2025-08-31-accounts

Reigate Grammar School

A Registered Company Limited by Guarantee

Consolidated Financial Statements

for the year ended 31 August 2025 together with Governors’ and Auditor’s reports

Registered Company Number: 3954365 Registered Charity Number: 1081898

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Report of the Governors for the year ended 31 August 2025

The Governors, who are also directors, present their annual report on the affairs of the Group, together with the financial statements and auditor’s report for the year ended 31 August 2025, and confirm that the financial statements comply with the requirements of the Companies Act 2006 and the Charities SORP (FRS102).

Reference & Administrative Information

Reigate Grammar School was incorporated as a company limited by guarantee in 2000 and has been granted exemption under S60 Companies Act 2006 from the requirement to use ‘Limited’ as part of its name. The liability of its members is limited to £1 each and it is also a registered charity.

St Christopher’s School Trust (Epsom) Limited, an independent nursery and pre-prep school in Epsom, Surrey, merged with Reigate Grammar School on 30 April 2025.

Box Hill School Trust Limited, an independent senior school in Mickleham, Surrey, merged with Reigate Grammar School on 30 June 2025. The school is now operating under the name of RGS Surrey Hills.

The six principal operating arms are Reigate Grammar School (‘RGS’), RGS Surrey Hills (RGS SH), Reigate St Mary’s Preparatory & Choir School (‘RSM’ or ‘Reigate St Mary’s’), Chinthurst School (‘Chinthurst’), Micklefield School (‘Micklefield’) and St Christopher’s School (‘St Christopher’s’) together known as ‘the Schools’. There is also a subsidiary charity, the Reigate Grammar School Trust (‘RGS Trust’), and two subsidiary trading companies, Reigate Grammar School Trading Limited and Reigate Grammar School International Limited (‘RGSI’).

Governors Mr Mark Elsey (Chair) *∞ Mr Duncan Anderson * Dr Shrilla Banerjee[O ] Mr Marc Benton * ∞ Mrs Mary Braughler-Edmunds[O] Mrs Helen Crossley[ O] (appointed 30 April 2025) Mr Brian Day † ∞ * (resigned 17 March 2025) Mr Christopher Dixon † Mrs Johanna Hamilton † Mr Luke Herbert[O] ∞ (resigned 17 March 2025) Mrs Maxine Hulme[O ] † Mrs Lisa Page[O] Mr Alistair Dominic Roberts * (appointed 30 April 2025) Mrs Maggie Shipley * Mrs Rebecca Sturt[ O] Mr Christopher Townsend[ O] (appointed 1 September 2025) Mr Nicholas Weber * Mr Edward Wheeler †

O Member of the Education & Welfare Committee * Member of the Finance & Foundation Committee † Member of the Estates & Premises Committee ∞ Member of the Governance & Risk Management Committee

Headmaster – Senior Mr Shaun A Fenton MA MEd OBE

Headmaster – Reigate St Mary’s Mr Marcus B Culverwell MA Mr Nick Oakden BA MEd (appointed 1 April 2026) Headteacher – Chinthurst School Miss Cathy Trundle BA QTS Headteacher – Micklefield School Mr Ryan Ardé BA NPQH Headteacher – St Christopher’s School Mrs Bronia Grehan BA QTS, NPQH, NPQEL, MA Bursar & Company Secretary Mrs Helena Briggs BA FCA

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Address and Reigate Grammar School Registered Office Reigate Road Reigate Surrey RH2 0QS Bankers Barclays Bank Plc Level 12, 1 Churchill Place London E14 5HP Auditor HaysMac LLP Statutory Auditor 10 Queen Street Place London EC4R 1AG Solicitors Goodyear Blackie Herrington LLP Oak House Tanshire Park Shackleford Road Elstead Surrey GU8 6LB Farrer & Co LLP 66 Lincoln’s Inn Fields London WC2A 3LH

Structure, Governance & Management

Governing Document

The Schools are governed by the Articles of Association last amended on 8 September 2015.

Governing Body

The Governors aim to achieve a wide spread of knowledge and experience amongst its Board of Directors (“the Board”) in order to fulfil their statutory obligations and determine the aims and overall conduct of the Schools. When vacancies on the Board arise, nominations are received and decisions on whom to select for appointment are made at a general meeting of the Board. This procedure is reviewed by the Governance & Risk Management Committee of the Board, prior to decisions being taken at full Board meetings. It is the Governors’ policy that all Governors will be appointed to serve on at least one Committee of the Board. All Governors serve for an initial 3-year term after which they become eligible for re-election for up to two further 3-year terms. Governors retire automatically at the end of their third 3-year term, with some exceptions.

Governor Training

New Governors are inducted into the operations of the Schools, and of the Group as a registered charity, including Board Policies and Procedures, via an initial information pack provided by the Bursar, as well as by attendance at Board Meetings and during term-time, at Governors’ Days and Parent / Teacher meetings. Workshops for all Governors are held on an annual basis, usually on a day that coincides with a full Board of Governors Meeting. They are also encouraged to attend external courses run by AGBIS and other relevant professional organisations.

Organisational Management

The Governors meet as a Board at least three times a year to determine the general policy of the Schools, as well as reviewing their overall management and control, for which they are legally responsible. Implementation of the Board’s policies is carried out by several committees of which the principal ones are the Education & Welfare Committee, the Finance & Foundation Committee, the Estates & Premises Committee and the Governance & Risk Management Committee, all of which meet at least once a term. These Committees are currently chaired by Luke Herbert (to March 2025) and Lisa Page (from March 2025) (Education & Welfare), Marc Benton (Finance & Foundation), Brian Day (to

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

March 2025) and Edward Wheeler (from March 2025) (Estates & Premises) and Maxine Hulme (Governance & Risk Management).

The day-to-day running of the six schools (RGSl, RGS SH, RSM, Chinthurst, Micklefield and St Christopher’s) is undertaken by the Headteachers of each school and the Bursar. These seven individuals are the key management personnel. The Board sets remuneration, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding fairly and responsibly individual contributions to the Schools’ success. The Headteachers of RGS SH, RSM, Chinthurst, Micklefield and St Christopher’s report in respect of operational matters to the RGS Headteacher.

Objects, Aims, Objectives & Principal Activities

The object remains the education of boys and girls at our schools in or near Reigate.

Aims and Intended Impact

Within the main object, the aims of the charity are:

• To continue the traditions of the Schools in providing an excellent all-round education to talented students aged between two and eighteen from a wide range of social backgrounds.

• To stimulate intellectual curiosity in all areas of learning and to enable students to fulfil their academic potential.

• To provide a disciplined and caring environment that will encourage boys and girls to develop into morally and socially responsible young people.

• To provide all students with the essential skills and experiences that will equip them for the world outside School.

• To ensure that the development of these intellectual, physical, creative and social abilities is conducted in a happy and mutually respectful environment.

• With RGS International Ltd (RGSI), we have a strategic vision to establish and provide educational consultancy services for British-style schools around the world under licence from RGS.

Ethos

The Schools operate as a charity that seeks to provide the best possible education to our students and thereby to provide public benefit. Our fees are set at a level to ensure the financial viability of the Schools and at a level that is consistent with the above aims.

Our Schools are committed to safeguarding and promoting the welfare of our students and we expect all staff and volunteers to share this commitment. The Schools’ child protection policies may be accessed in full on our websites.

Admission to the Schools

The Schools welcome students from all backgrounds. To admit a prospective student, we must feel reasonably sure that we will be able to educate and develop the prospective student to the best of his or her potential and in line with the general standards achieved by the student’s peers. Entrance interviews and, where appropriate, academic assessments are undertaken to satisfy parents and ourselves that potential students can cope with the pace of learning and will benefit from the education we provide.

Prospective students are judged solely by the above criteria, which are published in more detail on the Schools’ websites. The Schools are open to all students who meet these criteria regardless of gender, ethnicity, race, religion or disability.

Our Schools pride themselves on being an inclusive institution that embraces equal opportunities for all. We are committed to providing an environment that is free from any form of discrimination on the grounds of colour, race, ethnicity, religion, gender, sexual orientation or disability. We make reasonable adjustments to meet the needs of staff or students who are or become disabled.

Grant-making policy

This academic year the net cost of scholarships, bursaries, sibling and staff discounts made to the Schools’ students were £4,113,517 (2024: £3,718,299) which is 9.8% of gross income (2024: 10.0%). Details of the value of awards are also set out in Note 1 to the accounts.

a) Bursaries (RGS only)

The Governors are determined to ensure that they provide education to students from a wide range of backgrounds. To achieve this aim, funds are provided each year to help families who cannot afford the full fees. This provides assistance to those who meet our general entry requirements and awards are made solely on the basis of parental means. All

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

bursaries are means-tested, including Harrison scholarships, Gershon scholarships and 1675 scholarships. Funds for the Harrison, the Gershon and 1675 scholarships are supported by external philanthropic donations.

In assessing parents’ means, we take a number of factors into consideration including family income, investments and savings, and family circumstances, for example, dependant relatives and the number of siblings. Donation of funds from external sources as a contribution towards funding our awards helps the school in its objective of ensuring a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their child’s education, and those benefiting from the awards.

The value of a Bursary ranges from 10% to 100% remission of fees. In cases of extreme hardship, we sometimes also offer help with extras such as school transport, lunches and uniform. Information about our Bursary scheme is included in the prospectus and on the school’s website.

Harrison Scholarships (RGS only)

The local charity, The Peter Harrison Foundation, has supported School bursaries for many years. In the past, families who lived in the borough of Reigate and Banstead and who were applying for a place at RGS may have received bursary support made possible by the annual donation of the Peter Harrison Foundation (Charity No. 1076579). Although the Peter Harrison Foundation no longer supports bursaries for new pupils, it continues to support 25 existing bursary recipients who currently remain in the School and are known as Harrison Scholars.

1675 Scholarships (RGS only)

From donations provided largely by alumni and others with an interest in the school’s wellbeing, the 1675 Bursary Fund supports the provision of 1675 Scholarships. During the academic year, twelve new 1675 Scholarships were awarded (2024: thirteen), bringing the total number of 1675 Scholars currently in school to 63 (2024: 62), including one Gershon scholar. Details of the 1675 Bursary Fund can be found in Note 16, and the role of the RGS Foundation is described on page 23.

Temporary Bursaries (all schools)

These provide short-term assistance only and are offered to relieve hardship where a student’s education and future prospects would otherwise be at risk, for example, in the case of the redundancy of a parent.

b) Scholarship policy (RGS and RGS SH only)

The purpose of our scholarship awards is to recognise either high academic potential, or the ability to excel in Sport, Music or in our extra-curricular activities. Scholarships are awarded with a remission of up to 25% of fees per annum, but where further assistance is required, awards may be supplemented by a means-tested Bursary. Further details of our scholarships are available on our website.

c) Choral Scholarships

During the year ended 31 August 2025 the Godfrey Searle Choir, a semi-professional choir of boys and girls which draws its boys and girls exclusively from RSM and RGS, provided scholarships with £1,200 per annum remission of fees in return for singing at services in St. Mary’s Parish Church and elsewhere. Children normally enter the choir at the age of eight whilst at Reigate St. Mary’s, but can continue through to RGS until the age of 13. The choir makes a major contribution to the musical life of the Schools.

d) Sibling discounts

To underline the value we place on continuity for families, we offer sibling discounts where parents have more than one child at the Schools: a 5% discount is allowed in respect of the second child, and a 10% discount for the third and any subsequent children.

e) Staff discount

In order to enable us to attract and retain the very best quality staff, we offer a discount scheme for members of staff who educate their children at our Schools (subject to the normal entry requirements).

Objectives for the Year

The principal objective for the year has been maintaining and improving the educational provision across the Schools. This includes not only the academic standards as measured by public examinations, but also the extra-curricular life of the Schools.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Other objectives have included:

• Achieving student numbers at RGS above 1,100, RSM above 370, Chinthurst above 250, Micklefield above 250, St Christopher’s above 150 and RGS SH above 350;

• The provision of continuing support of our students already in receipt of fee assistance through Bursaries;

• To continue to develop and extend the School estates; and

• To retain and develop our teaching and support staff.

In setting our objectives and planning our activities our Governors continued to give careful consideration to the Charity Commission’s general guidance on public benefit.

Strategies to achieve the year’s objectives

Each year, the Governors agree the School Development Plan for the Schools. These plans outline actions and targets for each of the strategic priority medium term development goals. Governors review progress for each of the mediumterm development goals, which have a strategic priority at the appropriate committee meetings and at each full Board meeting.

The continuing improvement of academic standards at RGS is achieved by further use of value-added data to track the progress of students against national standards, supported by an extensive performance management system to deliver high quality professional development to all teaching staff. The school also remains committed to its sporting and cultural programme and has ensured that students continue to receive the broadest possible range of opportunities.

At Reigate St. Mary’s the system of staff performance reviews has continued to ensure both consistency and delivery of quality throughout the school. Heads of Department are required to draw up action plans for their areas of responsibility to meet the objectives of the School Development Plan. The enhancements previously made to the admissions process to ensure better targeting and follow up of all potentially interested parents have again proved to be very effective with student numbers remaining close to full capacity on 31 August 2025.

At Chinthurst additional market research has been performed to ensure that the school focuses its resources in the right areas and also puts in place measures to strengthen the marketing and PR of the school, in order to continue to expand its pupil numbers, Chinthurst has recruited additional teachers and teaching support staff to ensure it retains quality teaching provision for its pupils.

At Micklefield, there has been significant emphasis on enhancing marketing and admissions efforts to draw more families to its events and activities, with a particular focus on increasing pupil numbers in the lower school. Priority is also being placed on optimising resources and upgrading facilities to ensure exceptional curriculum opportunities for all children.

St Christopher’s and RGS Surrey Hills will be monitored in more depth as they continue to embed into the RGS Group of schools.

Principal activities of the year

As stated above, the Charity’s main object is the provision of education, in or near Reigate, to both boys and girls. Students are educated at Reigate St. Mary’s, Chinthurst and Micklefield up to Y6, and at St Christopher’s up to Year 2 (from 1 May 2025). Those in Years 7 to 13 are educated at Reigate Grammar School, and RGS Surrey Hills (from 1 July 2025).

The objectives listed above had all been met by the end of the year. Student numbers in Reigate Grammar School reached c. 1,200, Reigate St Mary’s c. 400, Chinthurst c. 300, Micklefield c. 250, St Christopher’s c.150 and Surrey Hills c. 350.

The Governors’ policy is to set tuition fees at a level that covers both ongoing operational costs and our ambitions to continue to invest in new facilities. Termly fees for the current academic year 2025/26 can be found on each school’s website.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Public benefit

The Schools demonstrate their public benefit in the following ways:

High quality education

The Schools provide a public benefit through the provision of high-quality education. A high proportion of our prep school pupils progressed to our selective secondary school, with pupils also achieving places at other well-regarded selective secondary schools. At RGS, 94% of all A-Level grades were A to B, with 71% of grades being either A or A. At GCSE 73% of grades awarded were grades 8 or 9 while 90% of grades were 7 or better.

Bursaries

The Governors’ aim is to enable all students who fulfil our admission criteria to be able to attend RGS. To facilitate this, RGS provides means-tested Bursaries, and Temporary Bursaries, which can be up to 100% of full fees. In the year ending August 2025, we were able to provide bursary funding worth £2,591,214 (2024: £2,408,651). A proportion of these bursaries are funded by RGS’s 1675 Bursary Fund which contributed £1,375,000 (2024: £1,250,000), an external charity, the Peter Harrison Foundation (Charity No. 1076579), which contributed £140,884 (2024: £139,899), as well as a Bursary Fund established by Sir Peter Gershon to support individuals who excel in STEM subjects. After the contribution of the RGS Trust to bursary funding of £3,000 in the year (2024: £3,000), the net cost of bursaries to the Schools was £1,072,330 (2024: £1,015,752). In cases of extreme hardship, RGS also subsidises other expenses such as uniform, school meals, transport and school trips.

Partnerships and use of facilities

Throughout last year there were several Outreach and Partnership ventures by the Reigatian Community. At RGS, we ran Master Classes for our local primary schools, including Modern Foreign Languages and Maths. These were hosted by our teachers and sixth form students. The events were wonderfully received and enjoyed by our local community.

Students have had the opportunity to help younger pupils with their reading at our local state primaries, including St John’s, Reigate Parish, St Paul’s, Hatchlands, Lime Tree and St Joseph’s. Students also made a weekly visit to Beaumont Care Home where they played cards and scrabble with the elderly residents and performed music for them, and to Brooklands School to spend time with the pupils.

Students visited Stripey Stork, a charity for vulnerable local families, where they helped with sorting items in its warehouse and with raising awareness. Throughout the year we have also reached out to our RGS community to help with donating stationery, toiletries, and coats to Stripey Stork. We have continued our Partnership with local charity Loveworks; pupils of the third form have been visiting the warehouse weekly, fundraising at RGS, and raising awareness on the streets of Reigate.

In the Autumn Term, First and Second Form students baked cakes for the MacMillan Big Coffee Morning and at Christmas time all the pupils of the First Form wrote Christmas cards to the residents of the Live at Home Scheme. In November First Formers also took part in a giant Zumbathon to raise money and awareness for Lepra, and in December Second Formers completed their elf run to raise money for Tadworth Children's Trust. The House Christmas Market again proved very popular, raising funds for their chosen charity, Shooting Stars, and House teams volunteered to run the water stations at Run Reigate in September.

In the Spring term we ran our state primary book club, where five state schools attended to discuss books donated to them by RGS. We also hosted our first community Iftar, raising money for Doctors Without Borders, and the House committees held a joyful and successful fundraising event on Valentine's Day.

In the Summer term we held our Treasure Hunt for new First Formers at RGS to raise money and awareness for Sal's Shoes. In Enrichment Week over 200 students participated in our community day, supporting projects in local schools and care homes, working with conservation groups to tackle invasive species, and collaborating with Stripey Stork to prepare 350 school bags for local children. In August, the Surrey Young Carers used our site for a day of activities with their young carers. Throughout the year children from the Surrey Young Carers have also been invited to school productions.

Throughout the year we ran non-uniform days to raise money for our charity partners - Loveworks, Giant Pledge, Tadworth Children’s Trust, Lucy Rayner, Renewed Hope and Stripey Stork. We have lent our minibuses to many local schools and charities. We have supported District Sports events for local state schools by providing both facilities, at Hartswood and on the main site, and staff expertise to run the events. Sports have included Athletics,

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Cricket and Netball. Our music collaborations are growing, with RGS staff teaching at local state primaries and the pupils from these schools performing in RGS group concerts. Staff also give their time generously: our Head of Careers regularly volunteers to go into state secondary school to give careers advice and mock interviews; colleagues are Governors for local state schools; and staff volunteer time as instructors at local holiday camps and open DofE centres. Students also give their time generously through volunteering outside of school, assisting with local Guiding and Scout groups, and supporting local charities. In total, RGS students and staff contributed over 8,000 volunteering hours in the local community and raised over £25,000 for local and national charities.

Chinthurst's House charity events continue to raise funds and awareness for local and national charities, this year supporting KSS Air Ambulance, The Children's Trust, Epilepsy Society and the World Wildlife Fund through fun and engaging events such as 'anything but a bag' day, dress as your favourite animal day, something 26 day and crazy hair day. We have also had whole school non-uniform and celebration days in aid of Jeans for Genes Day, Children in Need, Save the Children, Comic Relief and Anti-Bullying week, as well as supporting the Royal British Legion with their poppy merchandise. Our Year 6 Business Enterprise event saw the children creating, marketing and selling their crafts, raising over £850 for the Evelina London Children's Charity.

Chinthurst organised collections of food and toiletries for the Epsom & Ewell Foodbank and Stripey Stork in several events across the year. We also support our local church, The Church of the Good Shepherd, as well as local charity Renewed Hope, with collections at the end of some of our parent attended services and events.

Chinthurst’s outreach relationships include organising sports afternoons for our lower school children with local school Fetcham Infants, as well as providing our minibuses to them, to enable them to take part in sporting events across the area. Our swimming pool is regularly used by two local primary schools for their curriculum swimming lessons, Walton on the Hill Primary School and Shawley Community Primary Academy, as well as a local swim school. We support our community with the use of our sporting facilities, which are used for events such as the local resident association meetings and by local football and cricket clubs for training.

During the year, pupils and staff at St Christopher’s participated in a range of charitable and community activities. Year 2 visited the residents of Linden House to sing Christmas carols, and the whole School and Nursery took part in the annual Elf Run, raising over £2,500 for The Children’s Trust in Tadworth. In the Autumn Term, the School’s Harvest Festival raised over £300 for the Save the Children Fund, alongside food donations collected for the Epsom & Ewell Foodbank to support local families. Year 2 also contributed to fundraising for the Epsom Medical Fund through carol singing in the Ashley Centre. In the Spring Term, staff supported Age Concern by volunteering with their annual Easter Egg Hunt in Epsom.

Across the past year, Micklefield has had a continued commitment to community engagement through a wide range of charitable and creative initiatives. We have supported Stripey Stork by taking part in the Santa Dash and organising a Mother’s Day collection and contributed to Loveworks with generous Harvest food donations. We have partnered with the Make ‑ A ‑ Wish Foundation, joining the Festive Dash fun run and preparing for an upcoming Pyjama Day fundraiser, while also raising money for Macmillan Cancer Support through a community cake sale. The school further extended its environmental focus by supporting Sea Changers, a marine conservation charity, raising funds through an Ocean Day and themed activities.

Alongside fundraising, Micklefield built meaningful relationships with local care homes (Ridgegate and Beamont care homes) by running creative workshops, producing art pieces and cushions and collaborating on bespoke art commissions. The nursery continued its warm connection with residents at Abbeyfield Care Home, where children visited regularly to sing, garden and share small Christmas gifts.

Micklefield enjoyed supporting RGS events at Run Reigate, strengthening ties within the wider community. The sports ground is also used by local community sports groups including Reigate Priory Cricket Club and Reigate Priory Youth Football Club. Altogether, these contributions reflect a year marked by generosity, creativity, environmental awareness, and a strong commitment to local partnerships.

At RSM, the Sports Hall is used widely by local community sports groups for cricket, badminton, and five-a-side football.

The Arts

The Schools provide a public benefit by promoting music, drama and art. Concerts and plays are held regularly, often outside the Schools and open to the public. Local primary and preparatory schools are often invited to performances at no cost, both for school productions and for performances given by outside groups. The Godfrey Searle Choir, a semi-professional choir of boys and girls, with some adult choristers, sings services regularly at churches in the local

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

area as well as further afield, and RSM is a member of the Choir Schools’ Association. The RGS Activities Week, which runs for a week at the end of each summer term, holds performances, exhibitions and workshops, which are open to the public.

Sports

The Schools provide public benefit by providing coaching in amateur sports including rugby, football, hockey, netball, cricket, athletics, tennis, badminton, squash, golf and swimming. Students are encouraged to develop to the best of their ability and many have gone on to county and international honours. Students frequently play for local clubs, especially the Old Reigatians Rugby and Hockey clubs, and Reigate Priory Hockey and Cricket clubs.

Outdoor Activities

The Schools promotes a healthy lifestyle amongst their students, including taking part in outdoor activities. All students over the age of 14 are encouraged to join either the Duke of Edinburgh Award Scheme or the Combined Cadet Force, both of which teach leadership skills, self-reliance, teamwork, and community understanding. The Combined Cadet Force also contributes to the promotion of the efficiency of the Armed Forces.

Strategic Report

Review of Activities 2024-2025 – Reigate Grammar School

Examination Results

Reigate Grammar School’s A Level and BTEC results with 94% of all grades being A to B, 71% of grades being either A or A and 34% of grades at A* demonstrates the continued success of the school. At GCSE 73% of grades were 8 or 9 while 90% of grades were 7 or better.

For the tenth year running, all RGS students applying to medical, dental and veterinary schools gained an offer and secured their place. This is testament to the students’ hard work, the dedication of their teachers and the effectiveness of the school’s programme which prepares students for medical school application.

Careers and UCAS

The Careers department held careers talks at least every two weeks, providing up-to-date information for students on a wide range of career options. We now have a large bank of recorded presentations on our Careers website careers.reigategrammar.org. We are now running a mixed programme of online and face-to-face events; there was an Art and Design Careers evening, an Apprenticeships evening and a Green Careers evening. The Higher Education Information evening featured a presentation on ‘How to choose your course and university, and how to make yourselves excellent candidates for university’ from Jane Marshall (formerly Admissions at LSE). We also had presentations on apprenticeships and Oxbridge admissions. We held a Careers Convention in February with more than 60 careers represented. In the Summer Term students enjoyed a face-to-face Q&A with former RGS university students about their university courses. Students had practice university interviews run mainly by RGS parents and former pupils, and the teachers ran mini-medical interviews for prospective medics, dentists and vets. Fifth and Lower Sixth Form students took part in a careers profiling exercise with follow up interview with an external provider; and students and parents were invited to attend a CV and interview preparation evening. Every year group had a careers lesson during Careers week, and Fourth Form students all undertook a 5-week careers course. Lower Sixth Form students had a UCAS/alternatives preparation course, two UCAS days and trips to Universities of Imperial and UCL. A weekly newsletter included ideas for online courses, work experiences and reading that students could undertake at home. In addition, the Careers department offered feedback on student CVs.

Combined Cadet Force (CCF)

With strong numbers once again this year, the RGS CCF has successfully retained over 100 cadets, continuing its upward trajectory. The year began with the preparation of our new recruits for the exciting events ahead. In November, cadets proudly represented the school in the Lord Mayor’s Show for the second consecutive year, earning RGS another moment in the national spotlight. Among our many achievements, we celebrated one cadet being appointed as First Sea Lord Cadet, the second in recent years, highlighting the exceptional calibre within our ranks. Cadets also enjoyed flying and gliding experiences and attended Black Sunday alongside the Grenadier Guards regiment, strengthening their connection to military tradition.

The momentum continued into the Easter holidays with an Army Camp at Tangier Woods in Kent, where cadets demonstrated resilience through military exercises, enjoyed evenings around the campfire, and embraced the spirit of

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

adventure and fun. This was followed by a joint RAF and Royal Navy trip to Walton Firs, featuring high ropes challenges, leadership tasks, and cart building, an excellent opportunity for teamwork and skill development.

The end of last year saw a hugely successful Tri-Service Week, where cadets enjoyed an action-packed programme of climbing, abseiling, caving, gorge scrambling, and trekking; an unforgettable experience that showcased teamwork and resilience. The year concluded on a high with the appointment of our Senior Army Cadet as Lord Lieutenant Cadet for Surrey for the 2025–2026 academic year.

Beyond the CCF the Outdoors Education programme continued to grow, with target sports (archery and axe throwing) remaining popular co-curricular clubs. The purchase of a mobile climbing tower allowed us to expand our climbing programme, enabling more students than ever before to discover this popular Olympic sport and be introduced to the core skills of roped climbing. These skills were evident on the annual rock-climbing trip to the Peak District, where students tackled iconic gritstone crags with confidence. Students also had the opportunity to explore a wide range of activities on our annual trip to the Jurassic Coast, experiencing paddle sports, rock climbing and mountain biking.

Drama

Drama performed a full programme of shows, including a full-scale production of the Shakespeare in Love , featuring students from the Second to the Upper Sixth Form working collaboratively together. The production was nominated for four National School Theatre Awards for Best Play, Best Actor, Best Actress, and Best Supporting Actor; we were extremely excited to win Best Actor (Fergus W) and very proud of all our nominations. Featuring a cast of 36, stunning period costumes, a cleverly designed multi-level set, and even thrilling sword fights choreographed, the judge particularly noted the seamless scene transitions, engaging storytelling, and the balance of humour and heartfelt romance that made the show so captivating.

This 350th anniversary year saw a very special production, carefully curated and directed by Marianne Hare, RGS in the West End. Taking over The Ambassadors Theatre in London’s West End, a large number of students from First Form to Upper Sixth performed a unique show exploring what it takes to make a Reigatian. Humorous and moving sketches, songs, scenes and plenty more, entertained sold-out audiences as we showcased our wonderful students on a national stage.

Theatre trips for various year groups saw a variety of plays and shows in the West End’s Theatreland, informing their own practice as actors, and set, lighting and costume design. The summer term saw the Head’s garden transformed into Narnia for the Junior School production of The Lion, the Witch, and the Wardrobe. Loved by students and parents alike, the production was an overwhelming success.

Curriculum Drama continued to stretch and harness the political and social brains of the students, with GCSE devised performances exploring a range of challenging and topical topics. GCSE scripted exams ranged from Harold Pinter to Caryl Churchill, and were excellently received by the exam board, who were effusive in their praise for the depth and quality of the work. A Level work included a reworking of the Ibsen classic A Doll’s House in the style of physical theatre company Shared Experience, which explored the impact of coercive control in relationships.

Duke of Edinburgh Award (DofE)

RGS continues to thrive in the Duke of Edinburgh programme, with many of our students completing their Bronze (159 students), Silver (90 students) and Gold Awards (46 students) last April. In May, many of our Gold Award recipients attended the ceremony at Buckingham Palace, where they celebrated their achievements and met the Duke of Edinburgh. For the 2024–2025 academic year, a further 306 students have taken on the challenge. Among them, 154 began their Bronze Award in January, embarking on two expeditions in the Surrey Hills in May and October. For many, it was their first experience of camping without parents, navigating 25 kilometres of footpaths over two days with their small teams. 90 Silver Award students faced tougher expeditions across both the North and South Downs, covering more than 130 kilometres in total and 2 nights camping on each expedition. Those who thrived at Bronze and Silver then chose to take on the Gold Award in Wales, with demanding hikes in July and August. Despite difficult terrain and very hot weather, they rose to the challenge and finished at the seafront with a huge sense of achievement.

Beyond the expeditions, the DofE programme requires commitment to three core sections: skill, physical and volunteering. Each participant dedicated an hour a week to each section, carefully logging their progress. Many Bronze students volunteered at RSM, supporting younger pupils, or joined Reigate Action Conservation Volunteers to help protect the local environment. A large number of Gold students gave back by mentoring Bronze participants as Gold Award Leaders, inspiring the next cohort with their DofE. Popular sports included netball, football and swimming, while some chose more unusual activities such as climbing and street dance. Skills ranged from singing and chess to circus skills, with many students embracing the chance to try something new, along with 25 students completing a course in basic first aid.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Beyond the core DofE expeditions, Trek and Explore proved to be a popular addition to the outdoor education programme. This series of day walks in the local area provides Second Form students with an opportunity to develop navigation skills and confidence on day hikes before they embark on the Bronze DofE expedition section. Students also embraced the challenge of further developing, and being recognised for, their navigation skills by completing the 2-day NNAS Bronze navigation award.

Through dedication, teamwork and perseverance, RGS has cemented its reputation as one of the most successful DofE school units in the country, and the programme remains an ever popular and rewarding part of school life.

House System

The House system at RGS once again proved to be a cornerstone of school life, bringing students and staff together through a rich variety of activities, shared experiences and friendly rivalry. The year opened with the ever-popular, and newly branded, Christmas House Singing, where both unison and harmony performances filled the Sports and Concert Halls with festive spirit.

As the Autumn Term unfolded, Houses threw themselves into a wide spectrum of events. Long-standing favourites such as Senior Debating and the Senior Quiz stood proudly alongside newer additions, including the fast-growing ESports competitions. A highlight of the term was the annual House Christmas Market. Running in tandem with the lunchtime ice rink during the final week, it offered imaginative games and activities and raised an impressive amount of money for the Giant Pledge (our house charity for the year).

Across the remainder of the year, students embraced a broad mix of competitions, from Chess to Philosothons, Pokémon, the Science Challenge and the ever-spirited Tug of War.

House Sport continued to showcase remarkable participation and camaraderie. Fixtures and tournaments in Rugby, Hockey, Netball, Golf, Swimming, Tennis, Cricket, Ultimate and Rounders, along with the traditional Athletics competition on Sports Day, ensured that every student had the chance to get involved.

As ever, the House system is about much more than the competition. Weekly assemblies and House family gatherings offered valuable opportunities for students to connect with peers from other year groups and strengthen the sense of belonging that lies at the heart of our community. House groups also embraced meaningful ways to make a difference, from fundraising through Valentine’s activities and volunteering at Run Reigate water stations to working collaboratively on eco projects promoting sustainability. Across the year we raised over £900 for the house charity.

We continue to look ahead with excitement to seeing the House system continue to grow, inspire and unite our community!

Model United Nations

The Model United Nations Society at RGS remains one of the school’s most popular clubs, attracting many students, particularly in the Sixth Form, who are passionate about politics, law and international relations. Both our senior and junior clubs meet weekly to debate global issues, building critical thinking and public speaking skills. In October 2024, we hosted the 28th annual ReiMUN conference, welcoming 280 students coming from 21 schools. The event featured a keynote speech by a former UN official and in this conference the MUN committee introduced a paperless system for processing resolutions using QR codes, which was praised for its efficiency and environmental benefits. The conference also provided an excellent opportunity for the Sixth Form MUN committee members to develop leadership and organisational skills by managing such a large-scale event. In May 2025, we hosted our Junior ReiMUN conference, which allowed over 50 students from 6 schools to participate. For many RGS and visiting students it was their first ever MUN conference and as such was a highly valued and regarded conference from visiting schools. It also allowed our new MUN 6[th] form committee to organise the conference, deliver skills workshops and chair the various committees. They were a credit to the school and gained valuable experience prior to hosting our 29[th] ReiMUN in October 2025.

Additionally, our students represented RGS at conferences hosted by Gordon’s School, Epsom College and Lingfield College, earning several awards for their efforts. These events were particularly inspiring for first-time participants, who gained valuable insights and experience in diplomacy and debate. We are proud of the dedication and achievements of our students and look forward to another successful year for RGS MUN!

Music

The school’s 350[th] anniversary was a focal point for RGS Music, an opportunity to rethink our calendar and depth and breadth of opportunity.

Special 350 events included Evensong at St Paul’s Cathedral, a performance of Saint-Saens Organ Symphony (featuring U6 organist, Bronwen R), Rachmaninoff’s Piano Concerto no. 2 (performed by U6 pianist, Matty O), and the mighty

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Mozart’s Requiem, performed en masse by all our choirs (including Parent Choir), accompanied by our symphony orchestra, at Guildford Cathedral, and the inaugural RGS Young Musician of the Year adjudicated by internationally renowned musicians Crispian Steele-Perkins, David Owen Norris, Andy Panayi, and Susan Gritton; the standard was extraordinarily high, as attested by each of our visiting professionals. Bob Chilcott, composer and conductor, spent the day with RGS musicians in composition and choral workshops, culminating in him conducting our choirs in a performance of an A Level composition by Eleanor B.

In addition, we hosted our usual full programme of concert performances from the re-branded informal concerts (now entitled ‘Concert and Cake’) for soloists and small ensembles, and all our choirs at Carols by Candlelight, to the everpopular bands, orchestras and choirs which feature in the major concerts of the year: RGS in Concert at Leatherhead Theatre, RGS in Concert at St Mary’s Church, Hartsfest 350, Plugged, Unplugged, Lower School Unplugged, and much more. Live musical performances continued to be an integral part of all school events with open morning, assemblies, services and evening events invariably prominently featuring RGS musicians.

The RGS Music Partnership Project continued to thrive, enhancing and developing the provision of music education in our community. Music department staff continued to visit local primary schools on a weekly basis, working with class teachers to deliver an engaging and inspiring music education programme and the RGS Staff & Parent Choir, rehearsing on a weekly basis under the direction of the Director of Music and Head of Choral Music continued to expand its membership, with many RSM parents joining too. RGS Saturday Music College, continued to provide musical opportunity for students aged 6 to 18 from a variety of education settings through weekly instrumental lessons.

In the region of a hundred students sat ABRSM examinations, a high proportion of whom were at Grade 7, 8 and Diploma levels. Two Lower Sixth Form students successfully auditioned for the Royal College of Music Junior Department, adding to the Upper Sixth Form students already there. Academic music continued to thrive with encouraging GCSE and A Level results: 55% 9/8 at GCSE and 100% A* at A Level. A record three A Level students have taken up places to read Music at Durham University, adding to last year’s student already there.

Sport

Sport at RGS continues to flourish, driven by a clear commitment to developing great people through sport alongside sustained excellence and opportunity for all. Participation and performance have grown in parallel, supported by enhanced structures, expert coaching, and a strong values-led culture. This year has seen further investment in performance support, greater collaboration across the RGS group, and the expansion of provision into new and adventurous areas of physical activity.

Our pupils have achieved outstanding success on the national stage. RGS reached the National Finals in both swimming and cross country, with greater representation than any other co-educational day school in the country. Athletics continues to be a major strength, including a British U16 long jump record holder, the second ranked U13 girl in the UK for 800 metres, and numerous county, regional, and national representatives across endurance disciplines including biathlon and track. We also celebrated international caps in netball and lacrosse, alongside regional success in equestrian sport.

Golf remains a flagship programme, with a National U15 Champion, a Surrey U13 Champion, Smarden Bell team and individual winners, and a rapidly expanding squad of over 150 active golfers, including more than eight competing at Category 1 level. Core performance sports continue to grow strongly, with hockey, rugby, and cricket all benefiting from enhanced strength and conditioning, a refined scholars programme, high performance sessions, and individual development plans. Netball and football participation remains exceptionally high, with football benefitting from our partnership with Dorking Wanderers FC which provides access to all-season pitches and club coaches.

Academic PE results remain exceptional, with 67% grade 9 at GCSE, strong outcomes at A Level, and a fifth consecutive year of 100% Triple Distinction* at BTEC. Together, these achievements reflect a sport programme that is ambitious, inclusive, and firmly student centred.

Review of Activities 2024-2025 – RGS Surrey Hills

Leadership throughout the year focused on strengthening systems, consistency and accountability. Parent feedback improved steadily, reflecting increased confidence in leadership decisions, clearer communication and a more visible senior leadership presence. The school responded constructively to feedback, demonstrating a willingness to reflect and adapt practice where needed.

Staffing was a significant area of change, with approximately one third of staff new to the school. This included the appointment of a Deputy Head Pastoral, a critical and necessary addition following a period from January 2024 during which the Head had been carrying the DSL and pastoral leadership responsibilities concurrently. The strengthening of

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

pastoral leadership has already had a positive impact on safeguarding oversight, staff capacity and pupil support, and further stabilisation and embedding of leadership structures remains a priority.

Leadership roles for pupils were expanded and embedded across academic, pastoral, co-curricular and outreach areas, supporting the development of responsibility, confidence and initiative.

There was a renewed and deliberate focus on teaching and learning during the year. The consistent use of the IB Learner Profile provided a coherent framework for promoting effective learning behaviours, reflection and personal development across the curriculum. This has supported greater alignment between academic expectations and character education. Equally, the need for intervention classes, revision classes, increased 1:1 sessions and stretch and challenge was hugely necessary across all areas of the curriculum. This was implemented with high levels of success, achieving the best exam results at GCSE in the school’s history at 77% of all pupils achieving grades of 7-9.

While progress has been made in strengthening classroom practice and curriculum oversight, academic outcomes over time, when compared to national averages, remain an area requiring further improvement. This has been clearly identified by leadership and acknowledged as a strategic priority. The stated aim is and was a minimum 100 percent pass rate across all GCSE subjects, alongside improved consistency and value added across departments.

The co-curricular programme continued to provide high quality enrichment and challenge. Notable achievements included an 8th place finish out of 40 teams in a national STEM go-karting competition at Goodwood, a successful Adventure Race in Scotland, and five pupils representing the school at the Round Square International Conference in Colombia, reflecting strong preparation, confidence and global awareness. Whilst efforts and intentions were good in the Sports Department, the need for the recruitment of a new team ready for September 2025 was clear.

Conversations with Chelsea Football Club began in March further to a successful residential programme, with the intention of working more closely with the club for the benefit of our students in the future.

Positive and necessary changes were made to behaviour management systems during the year. Expectations were clarified, routines strengthened and consistency improved across staff teams. This led to calmer learning environments and a more purposeful atmosphere across the school. While continued embedding is required, the direction of travel is clear and positive.

Safeguarding arrangements were maintained effectively throughout the year. The appointment of a Deputy Head Pastoral strengthened leadership capacity in this area, improving oversight, responsiveness and staff support. Health and safety remained a priority, with essential estate works completed to ensure compliance and pupil safety.

The school placed strong emphasis on pupils’ personal development through leadership opportunities, service learning and enrichment beyond the classroom. MAD (Make a Difference) Week provided a whole school focus on charitable engagement and social responsibility. Pupils participated in workshops with the local press, contributed to community art murals and took part in sports festivals in the run up to the summer holidays. These experiences supported the development of confidence, communication skills and civic awareness.

Leadership roles were prevalent and meaningful, enabling pupils to contribute actively to school life and develop independence, resilience and teamwork.

Investment in the estate during the year was necessarily limited and focused on essential works. This included roofing repairs, window replacements and further improvements linked to health and safety. While visible refurbishment was minimal, the school remained compliant, safe and fit for purpose. Longer term estate enhancement remains an identified area for future planning.

Review of Activities 2024-2025 – Reigate St Mary’s Preparatory and Choir School

Once again, numbers at the school were at their maximum, rising to 403 during the course of the year. A strong surplus was generated allowing for improvements to playground facilities, resources in core subject areas; particularly maths, outdoor learning areas and for the maintenance of buildings and refreshing of paintwork internally and externally.

With the introduction of VAT on school fees, the school absorbed 7% of this rather than passing it onto parents, from January 2025, meaning less surplus was available for reinvestment. However, as a popular school and with recognition from parents that the school was working hard to minimise the financial impact, numbers remained strong.

Academic outcomes were again pleasing with standardised testing showing that pupils in both Early Years and the primary age range, were significantly outperforming comparable schools in the area and are well above national norms.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

At the end of the academic year, 89% of our year six leavers moved to our selective senior school, having attained a high level of academic achievement. The remainder moved to other independence and state schools in the locality.

Sport, music, drama, IT, STEAM and ESR remain great strengths of the school, with special days off timetable for sports tournaments, music concerts at prestigious settings in London, for Lego robotic regional competitions and for the integration of technology and sustainability within the curriculum.

Outreach this year has included six local, national and international charities. Charities/values leaders in year six visited the local charities warehouses and produced promotional videos, sharing their learning with the local community, and thereby raising the profile of the charities, benefiting them further.

Review of Activities 2024-2025 – Chinthurst School

During the 2024/25 academic year, excellent results were again achieved, with 37 Year 6 children all gaining places at their first choice of school. Out of this cohort, 24 children were offered a place at RGS, with 20 accepting. 12 children took the 11+ resulting in 23 11+ scholarships awarded consisting of Academic, Sports, Performing Arts/Drama, Music and Headteacher’s Scholarships Award. 12 children accepted offers across Epsom College, Box Hill (now part of the group), Dunottar, St John’s, Kingswood House and Cranleigh. Additional offers were also received from Downsend, Cranmore and Reeds. 12 RGS Scholarships were awarded, and a total of 11 scholarships to other schools.

During the year to 31 August 2025, Chinthurst continued to demonstrate strongly with both its sport participation and performance. A total of 245 fixtures were played with 67 teams representing the school in football, netball, rugby, hockey, cross-country, cricket and swimming with the aim each week to have one fixture for each child. The genderneutral sports programme continues to work well, with children enjoying the opportunity to choose their main sport for the term. The wide choice of extra-curricular clubs also gives the children opportunities to try different sports or further develop their main sport choice. A highly successful multi-Sport week was again organised, which gave the children opportunities to try some alternative sports. These activities were either taken by the sports department or by visiting specialist coaches and staff from RGS.

This year has been a vibrant and successful one for Music at Chinthurst. Under the Head of Music, the department grew in confidence, participation and quality, offering pupils a broad and inclusive musical experience. Instrumental learning remained strong, with whole-class lessons in keyboard, recorder, violin, ukulele and djembe, plus individual and group tuition across many instruments with a total of 153 pupils learning an instrument. The curriculum followed a clear spiral structure, balancing singing, instrumental work, notation, composition and listening. Highlights included Recorder Karate in Year 2, violin in Year 3, opera and musical theatre in Year 4, jazz and ukulele in Year 5, and Year 6 film-music composition. Music thrived beyond lessons too. Orchestra, concerts, assemblies and seasonal events provided over 20 performance opportunities. At the Reigate and Redhill Festival, pupils won seven cups, with the Year 5–6 Choir and the Chinthurst Cello Duet selected for the gala concert. Older pupils developed arranging and composition skills through ICT work on iPads and GarageBand.

The 2024-25 academic year was a particularly good year for the drama department where we surpassed all records and achievements from the previous year yet again. In addition to the very successful nativity plays in the Autumn term, the Year 3 production in the spring term, Year 4 production in the Spring term and the Year 5 production in the summer term, the Year 6 production of Super Stan was a particular highlight in our school calendar and the show was complimented by the head of drama from RGSSH as one of the best Year 6 productions he has ever seen. In June 2025, a record number of 174 children were entered for their LAMDA drama exams (varying from individual acting exams, duologue performances to poetry and prose recitals) and a total of 16 students were awarded high merits (75% - 79%) and a phenomenal 158 children achieved Distinction awards (80% and above). Our proud record of 100% pass rate was again maintained and 90% of all entries this year received Distinction awards - another record! Looking ahead to this current academic year, almost 60% of children in Year 1 to Year 6 are taking additional LAMDA drama lessons. Scholarship awards to senior schools have also increased with a total of 4 students receiving drama scholarships to RGS, RGSSH and Epsom College.

Our co-curricular provision provided the opportunity for all children to sign up to 2-4 clubs a week to further enhance their schooling experience. These included sport coaching, singing, ballet and tap, musical instrument lessons, cooking, crafts, Mandarin, Nature and Wildlife, construction, chess, coding and Lego to name a few.

Works at Chinthurst in the last academic year have included the insulation and resurfacing of the existing flat roof over Reception and Nursery classes to modern thermal and fire standards, improving heat retention, durability and weather resistance. Some offices and the common areas of Morris House and Main Building, including corridors and stairwells, have been recarpeted and redecorated, providing a refurbished and attractive welcome to the school. We have upgraded the radiators in two classrooms to low surface temperature, more efficient units, improving safety and

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

performance. One of our reception classrooms has been transformed with new flooring and LED lighting. Further improvements to lighting with LED replacements have also taken place, with more classrooms and corridors upgraded. The pergola in the lower school play area has been built out with sides, a roof and a living wall, providing an undercover area for the children to use at break times. Rubber matting has been placed under the grass in front of this, to allow use throughout the year. We have installed an outdoor music system, to provide an enhanced experience for the children at events and some break times. We continue our success in the Green Flag Eco School system, achieving the accolade this year with distinction.

Our new house system, with four houses, has shown considerable success with increased charitable fundraising for charities including The Children’s Trust, WWF, Epilepsy Society, KSS Air Ambulance, The Woodland Trust and Marine Conservation, Stripey Stork and Evelina London Children’s Charity, together with other school fundraising drives for Renewed Hope, The Church of the Good Shepherd, Children in Need, Save the Children, Comic Relief and Epsom and Ewell Foodbank. We have also increased our partnerships with other local schools and community groups, by providing access to our facilities.

Review of Activities 2024-2025 – Micklefield School

The 2024–25 academic year has been another remarkable year at Micklefield, filled with achievement, growth and memorable experiences for our pupils. Our numbers have continued to rise, a clear reflection of the confidence families place in our provision. This increase has allowed us to invest further in our facilities and resources, ensuring that every child benefits from an enriched learning environment. Our children have also enjoyed the privilege of using the RGS facilities for masterclasses and sporting events, broadening their horizons and strengthening their skills.

We are delighted to celebrate the excellent success of our Year 6 cohort, with every child securing a place at their chosen Senior School. This achievement highlights the dedication of our staff, the commitment of our pupils and the strong academic and pastoral foundation that Micklefield provides.

An exciting highlight of the year was our Global Superheroes Theme Week, which inspired children to think about their role as global citizens and “Change Makers.” The week was filled with engaging activities, including a Wildlife Bird Man show, a Junk Orchestra experience, theatre company performances, a Bring and Buy Sale, an Endangered Animal Escape Room, litter picking initiatives and a whole-school sustainable Fashion Show. These experiences not only entertained but also encouraged pupils to reflect on sustainability, responsibility and the importance of collective action in shaping a better world.

The performing arts have continued to flourish, with many memorable events taking place throughout the year. Class and music assemblies, educational outings and the trip to Wembley for Voice in a Million were all standout moments. Reception welcomed families for their Someone Special event, while productions such as Nativity “Baubles”, the Year 3 and 4 show “What a Knight!”, and the Year 5 and 6 show “The Greatest Show” at the Leatherhead Theatre provided unforgettable experiences for both pupils and parents.

Residential trips once again offered pupils the chance to develop independence and resilience, with Year 4 travelling to Kent, Year 5 to the Isle of Wight and Year 6 enjoying an enriching experience in France. These trips remain a cornerstone of our curriculum, offering opportunities for adventure, teamwork and personal growth.

We are proud to have been awarded the Eco-Schools Green Flag with Distinction for the second consecutive year, a recognition of the commitment our staff and pupils show towards sustainability and environmental responsibility. In addition, we are thrilled to have been shortlisted for Independent Prep School of the Year 2025, an accolade that reflects the breadth and depth of opportunities available at Micklefield. From focused academic learning and sports programmes to the joy of performing arts and cross-curricular exploration, every child is encouraged to grow in confidence and curiosity. With future-focused digital learning and a strong foundation in our core values of Kindness, Respect, Resilience and Responsibility, we aim to prepare our pupils not just for Senior School, but for life.

Our Nursery has also enjoyed a year of exciting adventures, including the Voices of the Wild project, which focused on protecting endangered animals. Our Nursery is a place where the journey truly begins, offering a rich and stimulating environment supported by highly qualified staff. It provides a school-ready setting in which children can thrive, enjoy learning and build confidence, while also supporting them carefully through their transition into Reception via our dedicated School Ready programme. Alongside this, the children visited a local veterinary surgery run by one of our parents, explored the local library and took part in a Nursery vote to adopt an endangered animal through WWF, using their mathematical skills to compare results. They also participated in the national Mini Marathon by Joe Wicks, running two miles over several days to raise sponsorship funds for WWF.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Our facilities have continued to evolve, with significant improvements made across the school. The new bleacher seating in the School Gym has transformed the viewing experience for parents attending productions and performances, while the redevelopment of a woodland area has opened up exciting opportunities for outdoor learning. Reception classrooms and the Art room have been refreshed and the Netball Court resurfaced, ensuring pupils benefit from modern, wellmaintained spaces. Looking ahead, plans are underway for a new STEM classroom, which will further strengthen our provision in science, technology, engineering and mathematics.

Micklefield continues to thrive as part of the RGS Group, combining traditional values with a modern vision. Our commitment to holistic development ensures that children’s educational, emotional and social needs are met, while our strong partnership with parents and staff fosters a supportive and collaborative community. It has been a privilege to witness the enthusiasm, creativity and resilience of our pupils throughout this year and we extend heartfelt thanks to our dedicated staff, whose tireless efforts ensure that every child receives the very best educational experience.

Review of Activities 2024-2025 – St Christopher’s School

The past academic year at St Christopher’s School and Nursery has been one of remarkable achievement and progress with a continued commitment to excellence has been reflected not only in outstanding academic results but also in creative achievements, community engagement, and a strong culture of belonging, ensuring that every child thrives in a supportive and vibrant environment.

Academically, our pupils have excelled, with 100% of Year 2 students achieving expected levels in reading, 94% in writing and 94% in maths —well above national averages. 100% of our Year 2 children were accepted to their first school of choice in Year 3, including prestigious institutions, reflecting the robust foundation they receive at St Christopher’s. This year, internal audits across curriculum, safeguarding, and mental health have strengthened policies and identified areas for innovation. Highlights included a refreshed science curriculum, enhanced technology integration in learning, and new standardised assessments to better track and support student progress.

Our celebrations extended far beyond the classroom. Children achieved multiple first-place awards in the ISA Regional Art Competition and shared their talents through concerts, productions, and talent showcases. Year 2 shone in their pantomime Cinderella Rockerfella, carol singing at the Ashley Centre, and performances for local residents. Schoolwide events, including our 85th Anniversary celebrations, themed school days, and a Festival of Light, brought joy and created lasting memories.

Learning was enriched through a wide variety of educational visits. Reception explored nature at Painshill Park, Year 1 visited Gatton Park, and Year 2 engaged with history at The Poppy Factory and Bourne Hall during Remembrance events. In-class experiences included PTA-funded Virtual Reality lessons on global sustainability, Diwali-inspired dance workshops, and Black History Month activities. STEM Week, Children’s Mental Health Week, and World Book Day, featuring author Kate Thompson, further inspired creativity and curiosity.

Parents remained central to school life through Information and Parents’ Evenings, Open Mornings, and Sharing Our Learning mornings, allowing them to engage directly with their children’s education.

Sporting achievement was also celebrated, from a vibrant Sports Day to our first cross-country event, where pupils demonstrated resilience, determination, and team spirit.

The year culminated in our merger with the Reigate Grammar Group of Schools which marks an exciting chapter for St Christopher’s.

Overall, this year has highlighted St Christopher’s dedication to nurturing the potential of every child, fostering creativity, encouraging academic excellence, and building a community where all can flourish.

RGS International

RGS International Ltd (RGSI) was established in 2017 as a 100%-owned trading subsidiary of Reigate Grammar School (RGS) with a strategic vision to establish British-style schools around the world under licence from RGS. RGSI aims to deliver an increasing international dimension to the opportunities, understanding and experiences of our pupils as part of a global village; financial support for further investment and bursaries; and the opportunity to enhance the educational experiences and outcomes of pupils in countries with less developed education systems. We consider RGSI expansion opportunities carefully and only pursue these if we are satisfied that the international schools share our ethos and values and we are able to exert influence over quality standards in key areas such as pupil welfare and pastoral matters, teaching and learning philosophy, and curriculum design.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

RGSI signed two new multi-school partnerships, one in Vietnam in 2021 and the other in Saudi Arabia in 2022. Two schools have been re-branded to become RGS Vietnam and RGS Riyadh, with a second school campus opened in Riyadh in September 2024.

RGSI also has a school agreement in China, with our first school in Nanjing being open at Kindergarten, primary and now high school level. Recent regulatory changes in China means that plans for further schools under this agreement will now not take place.

RGSI has successfully stepped up its global business strategy in the last twelve months and has now officially opened in Phnom Penh in Cambodia and Kuala Lumpur in Malaysia (September 2025). RGSI has agreement for two schools in the UAE (Sharjah and Dubai), due to open in 2027 and 2028. Meanwhile, RGSI has signed a multi-school collaboration and licence agreement in Turkey with RGS Istanbul due to open in September 2026. RGSI has signed a collaboration in the UAE to establish several feeder nursery schools. RGSI continues to work towards further diversification in its geographical coverage and global reach, and we are continuing to explore potential projects in Africa, Central Asia, South-East Asia and Europe.

Plans for the future

During the 2025/26 academic year, the Schools continue to focus upon a balance of visible projects to enhance our provision for pupils, as well as conducting repair and refurbishment programmes for the school estates. At RGS we have been successful in obtaining planning permission for a new Sports Centre and have spent the last year working with a design team to take this exciting project forward, which we envisage will start to be constructed from summer 2026.

We have plans to improve the estates at each of the six schools this academic year:

• During the 2025/26 academic year at RGS we are planning a number of projects, such as the refurbishment of the Geography classrooms. We are also continuing to make plans for how to best utilise and refurbish the current 1970s Sports Hall once the new Sports Centre has been constructed, probably with a new performing arts and drama space.

• At Reigate St Mary’s, we plan to replace some of the play equipment to provide better facilities for our pupils on the Bund area.

• At Chinthurst School we are intending to replace the current Art and Design Technology block (a 1960s building) with a new modular two classroom building. We are also planning to relocate the maintenance area to make way for this exciting new building.

• At Micklefield we are aiming to refurbish a wooden building which is currently used as storage to create a new outdoor classroom and after-school care facility.

• At St Christopher’s we are intending to replace fencing to enhance security and are also scoping a roofing project.

• At RGS Surrey Hills, we are aiming to refurbish some of the boarding facilities.

Across all six schools, we will continue to invest in the IT infrastructure to support the delivery of IT in the classroom.

Our target across all six schools is to maintain exam results at the very high levels of recent years and to continue to help students on to the best next step beyond school. In the future, for the senior schools, that will continue to be Oxbridge and Russell Group universities alongside assisting pupils with applications for programs such as degree apprenticeships.

Reserves Policy

The Governors adopt a prudent and cautious approach in managing the financial resources of the Schools. They maintain close control over expenditure and set fee income at a level which will:

• meet all revenue expenditure, as well as the cost of providing some bursaries;

• generate a surplus sufficient to provide an adequate level of interest cover on the Schools’ financing costs;

• provide a level of cash flow that is appropriate for the financing of the Schools’ capital expenditure programmes; and

• maintain, as far as possible, stability in student numbers.

• The RGS Charity has nine restricted funds totalling £6.3m, as follows (please refer to Note 16 for more details):

• The RGS Foundation was set up to hold monies from fundraising undertaken by the Schools. All monies received have been credited, on the instructions of the individual donors, either to the 1675 Bursary Fund (which has £4.7m at 31 August 2025), to the Sport Centre Fund (which has £1.5m at 31 August 2025), or to a General Fund (which has £92k at 31 August 2025);

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

• There are six smaller restricted funds, with their associated values as at 31 August 2025, with the most notable being: the 100 Club fund (for providing opportunities for school trips, £27k), the CCF fund (£6k) the Stanley James Osmond Bequest (for the house system at RSM, £5k) and the Daniel Clarke Award fund (£3k).

• Chinthurst has one fund, the Illing Prize Fund, which is used towards annual prizes given by the school, which totalled £10k.

The RGS Trust has three restricted funds totalling £2.4m as follows (please refer to Note 16 for more details):

• The Paul Bewshea Fund (to provide financial assistance to students who have shown an interest in aviation or science as a career, £23k);

• The Foundation and Charity Funds (for prizes and awards, £13k); and

• The Godfrey Searle Property Fund (created by the donation of land and buildings by the Godfrey Searle Choir Trust in 2011, £2.4m).

Unrestricted reserves (general reserves) total £49.8m (2024: £35.2m).

As a consequence of this approach, all unrestricted reserves have been re-invested to improve the facilities of the Schools so there are no free reserves as defined by the Charity Commission. The Governors consider that the Group’s assets are sufficient to meet its obligations.

Financial Results

In these Financial Statements for the year ended 31 August 2025, ‘the Charity’ represents the results of RGS, RGS SH, RSM, Chinthurst, Micklefield and St Christopher’s. ‘The Group’ results include the Charity, Reigate Grammar School International, the RGS Trust and Reigate Grammar School Trading’ Limited for the twelve months ended 31 August 2025.

During the year the Group achieved net income before other recognised gains and losses of £15,930,618 (2024: £10,589,581). This has been another successful year for the Schools, with excellent results, increased pupil numbers and a stable staff body. We have also completed two additional mergers, with St Christopher’s School Trust (Epsom) Limited and with Box Hill School Trust Limited, which has had a positive impact on our net asset position. The overall impact is that the net assets of the Group increased from £42,665,172 to £58,916,855 during the year.

During this financial year, the Government implemented its policy of imposing VAT on independent school fees. Our schools supported families by sharing the cost. In January 2025, we reduced our fees so that the increased cost to parents of the new tax was circa 13% rather than 20%. We appreciate that the imposition of VAT on tuition fees is challenging for many families and so our means-tested bursary programme was extended to support those whose finances were put under significant pressure by the addition of VAT.

The imposition of VAT, loss of business rates relief, and significant increase in Employer’s National Insurance all put pressure on school finances but the Governors are confident that the RGS Group of schools remains well placed to face these challenges in the 2025/26 academic year and beyond through strong financial leadership and by continuing to boost our non-fee income from sources such as lettings, international school partnerships and fundraising via philanthropic giving.

Structure, Governance and Management

Governors’ duties under Section 172 of the Companies Act 2006

Section 172(1) of the Companies Act 2006 requires that a director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole and in doing so have regard to:

• the likely consequences of any decision in the long term;

• the interests of the company’s employees;

• the need to foster the company’s business relationships with suppliers, customers and others;

• the impact of the company’s operations on the community and the environment;

• the desirability of the company maintaining a reputation for high standards of business conduct; and

• the need to act fairly between members of the company.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

The Governors of the Schools have undertaken the following measures to maintain open working relationships and engage with employees at all six schools:

• Governors engage with senior staff from across the six schools in the Board Committees and Board of Governors meetings which occur regularly during each term. There is ongoing liaison between senior staff and Governors on a range of matters ranging from educational, estates, financial, Safeguarding, recruitment to health and safety and the wellbeing of staff and pupils. Governors are also in active dialogue with senior staff regarding any issues or concerns as they arise, such as any parental complaints, Safeguarding or pastoral matters. There is also a designated HR Governor who oversees all HR matters;

• The progress of all staff, from performance to wellbeing, is monitored by the Education and Welfare Committee of the Board. Governors meet new staff who join during the year at an informal event held prior to the first Committee meeting of each academic year;

• Through the ongoing dialogue with the senior teams of the Schools, Governors have been ensuring there has been ongoing information and communication with all staff. For example, this occurs at RGS with weekly staff bulletin and a whole teaching staff weekly meeting; and

• Governors and senior staff encourage a culture of openness and discussion, which helps ensure employees are well briefed on developments impacting their employment.

The Governors ensure that they are up-to-date and engaged with parents, pupils, the school communities and suppliers of the Schools through the following:

• Governors regularly attend school events, from concerts to art exhibitions to parents’ evenings to ensure that they are abreast with school matters which impact upon staff, parents and pupils;

• Governors continue to monitor and foster engagement between the Schools and the community, which has been outlined in detail in the ‘Public Benefit’ section of this report on pages 6 and 7;

• Governors have recently been fully involved in our ‘Inclusion and Diversity Review’ as we continue to review Equality, Diversity and Inclusion of both pupils and staff within our schools;

• Governors have also input to developing areas of the curriculum, such as Relationship & Sex Education (RSE); and

• Governors also review third party reports, such as Health and Safety reviews from consultants, Assurity.

Risk Management and Internal Control

The Schools maintains a Major Risk Register which the Governance & Risk Management Committee reviews annually, prior to this being circulated to the Board of Governors. The key risks identified, which are common to most independent schools, are the impact of the present economic climate on the ability of parents and prospective parents to afford fees (particularly with VAT having been levied on school fees), changes in the political and economic climate and the challenges which would face the Schools if there was a major incident.

Every major risk in the register has a number of separate actions which are taken in order to mitigate them as far as is possible. For example, fee increases are kept to a minimum to ensure that they remain affordable for current and prospective parents and budgets are prepared with contingencies for unexpected events. The schools update their Fire Procedures regularly and perform routine risk assessments of all extra-curricular and co-curricular activities.

The Committee monitors the effectiveness of internal and other controls which have been instigated to mitigate these perceived risks. The Committee also reviews any major risks that may arise from time to time, as well as the systems and procedures established to manage them. The Governors are satisfied that all major risks have been mitigated as much as is possible.

Simplified Energy and Carbon Reporting - Annual Submission for the year ended 31 August 2025

The energy use is predominantly from school buildings with a small amount from transport which is mainly minibuses and grounds vehicles, with a very small amount from staff mileage claims. This report has been prepared in accordance with the Environmental Reporting Guidelines January 2019. Data reported here is based on three applicable scopes. Scope 1 - Direct emissions derived from road fuel use for transport and ground works, the combustion of liquid fuels, and gas within stationary plant and equipment. Scope 2 - Indirect emissions are derived from metered electricity supplies to the various buildings which comprise the estate. Scope 3 – mileage claims where staff used their own vehicles on school business.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

UK Energy Use by Scope – RGS, RSM and Chinthurst Schools

SCOPE	TOTAL kWh USED	TOTAL kWh USED
	31 August 2025	31 August 2024
Scope1 -Transport	120,518	104,444
Scope1 -Grounds equipment	52,657	21,026
Scope1 -Gas	2,882,919	2,915,254
Scope2 - Electricity	1,302,263	1,313,547
Scope 3– Mileage claims	8,323	4,857
Total kWh Used	4,366,680	4,359,128

UK Emissions by Scope – RGS, RSM and Chinthurst Schools

SCOPE	TOTAL kgCO2e	TOTAL kgCO2e
	31 August 2025	31 August 2024
Scope1 - Transport	29,184	24,756
Scope1 -Grounds equipment	12,854	5,026
Scope1 -Gas	527,459	533,200
Scope2 - Electricity	230,501	271,970
Scope 3– Mileage claims	2,018	1,118
Total kgCO2e	802,016	836,070

Emissions Intensity Ratio (EIR)

It has been decided to use the total full-time population of the schools as the metric for comparison for SECR. This comprises the full headcount of staff of 475 (2024: 468) plus the average pupil numbers across the three schools for the school year 1,850 (2023: 1,827). The total population of the schools for the year 2024/25 was therefore 2,325 (2024: 2,295), resulting in the 2024/2025 EIR being 344.95 (2024: 364.30) kgCO2e/person.

Despite an increase in both kWh of energy used and, as a result, a small increase in absolute CO2 emissions in transport, grounds fuels, and mileage claims, the EIR for this year has continued to fall. Both electricity and gas consumption have continued their downward trend.

Micklefield School

Micklefield School became part of the Reigate Grammar School family on 28th June 2024, hence there are only two months of data to report for 2023/24. For this second reporting year, this data is reported separately to avoid affecting the year-on-year comparisons.

UK Energy Use by Scope – Micklefield School

SCOPE	TOTAL kWh USED	TOTAL kWh USED
	1/9/24 –31/8/25	1/7/24 –31/8/24
Scope1 -Gas	172,695	1,786
Scope2 - Electricity	128,920	11,769
Scope 3– Mileage Claims	331	0
Total kWh Used	301,946	13,555

UK Emissions by Scope – Micklefield School

SCOPE	TOTALkgCO2e USED	TOTAL kgCO2e USED
	1/9/24 –31/8/25	1/7/24 –31/8/24
Scope1 -Gas	31,596	327
Scope2 - Electricity	22,819	2,437

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

		for the year
Scope 3– Mileage Claims	84	0
Total kgCO2e	54,499	2,764

For future years, Micklefield’s consumption shall be rolled into the main SECR totals above, as full year-on-year comparisons will be possible.

Micklefield School was again awarded the Eco Schools Green Flag Award with Distinction in July 2025.

Specific measures taken at Micklefield during this school year include:

• A programme of replacing older-style fluorescent lighting with LEDs has continued.

• 3 x older double-glazed windows have been replaced with modern, ‘low e’ glass windows with insulation installed to the same wall.

• Staff awareness training has continued to encourage the switching off of lights and heaters when a room is not in use and the closing of external doors to prevent heat loss.

Emissions Intensity Ratio – Micklefield School: It has been decided to use the total full-time population of the school as the metric for comparison for SECR. This comprises the full headcount of staff (52) plus the pupil numbers as measured at the end of the school year (256). The total population of the school for the year 2024-2025 was therefore 308 persons. The 2024/25 EIR is 176.94 kgCO2e/person (2023/24 EIR N/A).

St Christopher’s School

St Christopher’s School and Nursery became part of the Reigate Grammar School family at the end of March 2025, hence there are only five months of data to report. For this reporting year, this data is reported separately to avoid affecting the year-on-year comparisons.

UK Energy Use by Scope – St Christopher’s School

SCOPE	TOTAL kWh USED
	27/3/25 –31/8/25
Scope1 -Gas	4,295
Scope2 - Electricity	11,147
Total kWh Used	15,442

UK Emissions by Scope – St Christopher’s School

SCOPE	TOTALkgCO2e USED
	27/3/25 –31/8/25
Scope1 -Gas	880
Scope2 - Electricity	1,973
Total kgCO2e	2,853

The above represents five months of data from acquisition until the financial year end and is included here for completeness.

Specific measures taken during this school year include:

• Staff awareness training has taken place to encourage the switching off of lights and heaters when a room is not in use, and the closing of external doors to prevent heat loss

Emissions Intensity Ratio - As the data reflected above is only for the last five months of the year, and the total energy used is heavily seasonally dependent, there is no meaningful EIR to be calculated for this SECR period.

RGS Surrey Hills

RGS Surrey Hills (formerly known as Box Hill School) became part of the Reigate Grammar School family on 1st July 2025; hence there are only two full months of data to report. For this reporting year, this data is reported separately to avoid affecting the year-on-year comparisons.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

UK Energy Use by Scope – RGS Surrey Hills

SCOPE	TOTAL kWh USED
	1/7/25 –31/8/25
Scope1 -Gas	70,617
Scope2 - Electricity	43,146
Total kWh Used	113,763

UK Emissions by Scope – RGS Surrey Hills

SCOPE	TOTALkgCO2e USED
	1/7/25 –31/8/25
Scope1 -Gas	14,621
Scope2 - Electricity	7,637
Total kgCO2e	22,258

The above represents 2 months of data from the acquisition until the financial year end and is included here for completeness.

Emissions Intensity Ratio - As the data reflected above is only for the last five months of the year, and the total energy used is heavily seasonally dependent, there is no meaningful EIR to be calculated for this SECR period.

Emissions reductions actions during this financial year

Reigate Grammar School has an ongoing programme aiming to reduce energy consumption, and hence CO2 emissions, which has been running for some years now. This year’s projects have included:

At RGS:

• A new high-efficiency, condensing gas boiler has been installed at the caretaker’s house.

• Plans are in place to upgrade equipment in a prioritised and phased manner in future years.

• All plant & equipment running hours are reviewed each term to reflect seasonal needs to achieve comfort levels in a range of different buildings with a reduction of energy usage outside core hours, including evenings, weekends and holidays where possible.

• The most energy efficient buildings, the Harrison Centre, PMH dining hall and Sport/Concert Hall areas are prioritised for use for parents’ evenings and other school events out of hours to maximise the use of newer plant and reduce, where possible, the use of less efficient buildings and systems.

• An energy awareness programme continues to curtail any non-essential uses, such as lighting in areas not in use, with the caretaking team only switching on lighting in key areas each morning so that staff can turn on lights when they actually need to use more individual spaces. A similar exercise is undertaken during the evening lockdown, with the team focusing on all areas not in use first for shutdown, whilst events/clubs etc continue in other areas.

• The programme for LED lighting upgrade continues with the most frequently used spaces such as classrooms, large venues, corridors and offices being prioritised for upgrade.

At Reigate St Mary’s:

• A new control system has been installed to enable full control of timing and temperature settings for the heating system in the main building.

• An enhanced energy awareness programme has been introduced to curb non-essential uses such as lighting.

At Chinthurst:

• The roof areas of both the reception and nursery classrooms have been replaced, incorporating additional insulation to curb heat losses.

• A programme of replacing older-style fluorescent lighting with LEDs has continued, with two further phases completed.

• An enhanced energy awareness programme continues to curb any non-essential uses such as lighting, including the automatic shutdown of PCs initiated to prevent any being left inadvertently out of hours.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Emissions Reductions from Scope 3 Emissions

Aside from mileage claims, Scope 3 emissions are beyond the mandated scope of this report as they deal mainly with emissions arising from the activities of suppliers or customers of an organisation which are not directly controlled by the organisation itself.

RGS has, however, been instrumental in encouraging its contracted supplier of coach transport for pupils to change their fleet to coaches whose emissions meet PSVAR Euro Cat. 5 or 6, which mandates a higher standard for vehicles of this type. The coach company now transports on average 400 students (approximately 35% of the student population) on twelve coach routes from around the county, to and from the school – this removes up to 400 family cars off the routes and should impact the traffic congestion and carbon emissions in and around Reigate’s roads. The coach company has invested in three new large coaches which will run more efficiently with regards to fuel consumption and carbon emissions. As a major customer, RGS has been proud to encourage and support this change.

Emissions reduction actions planned for the next financial year

• There are several major medium-term projects which are now under active consideration which, once enacted, will encompass a range of energy efficiency measures. These may however span more than one year hence are not detailed fully at this stage.

• The preferred use of the more energy efficient buildings such as the Harrison Centre for out of hours activities, parent’s evenings etc will continue to reduce non-core consumption.

• Energy efficiency policies for staff and pupils will continue to be further developed in order to increase awareness and create an ethos around the same.

• RGS has been awarded the Eco-Schools Green Flag Award with Merit having now formed a substantial EcoCommittee to address and formulate a plan towards net zero.

• As with all years, where older lighting types fail, these are being replaced with modern LED fittings.

Emissions Reductions Ambitions and General Policies

• All new buildings are built to enhanced standards so heating and ventilation are predominantly natural.

• As boilers are replaced, they are replaced with more efficient ones.

• The electricity for RGS, RSM and CH schools comes from certified renewable energy sources (REGO).

• In any new building projects photovoltaic panels for the roofs are actively scoped to produce energy for the school.

• In any new building projects, ground or air source heat pumps are actively scoped with a view to installation in preference to traditional heating sources.

Investment Policy and Performance

The Group has an Investment Manager, Rathbones Group, to manage funds on behalf of the RGS Foundation. A core strategic objective for the RGS Foundation and the 1675 Bursary Fund was to provide at least fifty sustainable places for 1675 Scholars by 2025 and to build an Investment Fund of at least £4m by this date, which has now been exceeded with sixty-three 1675 scholars in 2024/25 and a fund value at the year-end of £5.07m. The RGS Foundation seeks to produce the best long-term financial return within an acceptable level of risk. We assume a ‘medium’ level of risk. The mandate to Rathbones as the Investment Manager is discretionary. As at 31 August 2025, the Group had transferred £3.86m into this Rathbones fund (2024: £3.86m) and an unrealised investment gain of £320,903 (2024: a gain of £552,425) is recognised in the year. The net loss on other investments across the group totalled £683 in the year to 31 August 2025 (2024: a gain of £10,285). Considering current market conditions, the Governors are satisfied with the investment performance of both funds.

The RGS Foundation – 1675 Bursary Fund

The Foundation and Alumni Office has the twin purpose of maintaining contact with alumni through various events and reunions and the important task of obtaining donations for the Changing Lives campaign. With clusters of alumni now in contact in North America, Singapore, Hong Kong, the Middle East and Australia, as well as those in this country, these twin objectives have been very successfully achieved, resulting in support being provided during the 2024/2025 academic year for sixty-three recipients of 1675 scholarship awards, with a value of £1,375,000 (2024: £1,250,000).

Fundraising standards

The Governors recognise the importance of meeting the highest standards of practice and care in relation to fundraising activities. The Group has signed up to the fundraising code of practice and voluntarily registered with the Fundraising Preference Service. The Group keeps benefactors informed about fundraising activities through regular newsletters and reports. All fundraising activity is carried out by school staff, who all have received training on fundraising standards. No complaints have been received. The Schools only raise funds from former pupils, parents, staff and those with a personal connection with the school and do not undertake fundraising campaigns to members of the public.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Statement of Governors’ Responsibilities

The Governors (who are also directors of Reigate Grammar School for the purposes of Company Law) are responsible for preparing the Annual Report of the Governors, incorporating the Strategic Report, and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and the Group and of the incoming resources and application of resources of the Group. In preparing these financial statements, the Governors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity and the Group will continue in business.

The Governors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as we are aware:

• There is no relevant audit information of which the Charity's auditors are unaware; and

• The Governors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Auditor

HaysMac LLP has expressed its willingness to continue in office and a resolution to re-appoint it will be submitted to the Governors.

In signing this Report, the Board are also approving the Strategic Report included within these Financial Statements in their capacity as company directors.

On behalf of the Board

Mark Elsey	Reigate Grammar School
Chair of the Board of Governors	Reigate
	Surrey
8 May 2026	RH2 0QS

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Independent auditors’ report to the members of Reigate Grammar School

Opinion

We have audited the financial statements of Reigate Grammar School for the year ended 31 August 2024 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Statement of Cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 August 2024 and of the group’s net movement in funds, including the income and expenditure, for the year then ended;

• • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Governors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The Governors are responsible for the other information. The other information comprises the information included in the Report of the Governors. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a 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 nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the Report of the Governors (which includes the strategic report and 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 strategic report and the directors’ report included within the Report of the Governors have been prepared in accordance with applicable legal requirements.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Governors (which incorporates the strategic report and the directors’ report).

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

• adequate accounting records have not been kept by the parent charitable company; or

• the parent charitable company 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.

Responsibilities of Governors for the financial statements

As explained more fully in the Statement of Governors’ Responsibilities set out on page 19, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Governors 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 Governors are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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

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 understanding of the group, the parent charitable company and the environment in which it operate, we identified that the principal risks of non-compliance with laws and regulations related to The Education (Independent School Standards) Regulations 2014, safeguarding regulations, health and safety requirements, GDPR, employment law and charity law 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, the Charities Act 2011, the Statement of Recommended Practice for Charities (SORP 2019)), and consider other factors such as payroll taxes and VAT.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to improper recognition of revenue and management bias in certain accounting estimates and judgements. Audit procedures performed by the engagement team included:

• Inspecting correspondence with regulators and tax authorities;

• Inspecting the outcomes of any regulatory inspections;

• Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

• Evaluating management’s controls designed to prevent and detect irregularities;

• Identifying and testing journals, using data analytics to focus on higher risk entries; and

• Challenging assumptions and judgements made by management in their critical accounting estimates and challenge of the underlying assumptions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

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

Jane Askew (Senior Statutory Auditor) for and on behalf of HaysMac LLP, Statutory Auditor

10 Queen Street Place London EC4R 1AG

Date: 18 May 2026

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Consolidated Statement of Financial Activities

(incorporating income and expenditure account) for the year ended 31 August 2025

Notes Income from: Charitable activities: School fees receivable 1 Registration fees Trip income Catering income Coach income Other educational income 2 Donations and legacies 3 Lettings Investments Trading income Other income 19 Total Income Expenditure on: Raising funds: Fundraising & Development Charitable activities: Education Total Expenditure 4 Net Income/(Expenditure) from operations before transfers and investment losses Unrealised investment gains 8 Gain on disposal of tangible fixed assets Net Income/(Expenditure) Pension scheme actuarial (losses)/gains 19 Net Movement in Funds for the year Balance brought forward at 1 September 2024 Balance carried forward at 31 August 2025	Unrestricted Restricted Total Total Funds Funds 2025 2024 £ £ £ £ 37,793,420 - 37,793,420 33,100,146 87,308 - 87,308 105,700 901,373 - 901,373 855,159 678,228 - 678,228 665,657 519,249 - 519,249 489,612 150,473 2,360 152,833 109,092 13,249,258 2,489,827 15,739,085 7,297,163 461,918 - 461,918 212,358 809,803 63,037 872,840 333,828 1,360,331 - 1,360,331 922,995 - - - 1,301,750
	56,011,361 2,555,224 58,566,585 45,393,460
	420,611 9,815 430,426 482,242 40,814,577 1,390,964 42,205,541 34,321,637
	41,235,188 1,400,779 42,635,967 34,803,879
	14,776,173 1,154,445 15,930,618 10,589,581 (683) 321,191 320,508 563,213 - - - -
	14,775,490 1,475,636 16,251,126 11,152,794 - - - -
	14,775,490 1,475,636 16,251,126 11,152,794 35,445,080 7,220,649 42,665,729 31,512,378
	50,220,570 8,696,285 58,916,855 42,665,172

There were no recognised gains and losses other that those shown in the above Statement of Financial Activities. The accompanying notes form an integral part of this Statement of Financial Activities. Detailed comparative figures are shown in note 24.

page 27

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Balance Sheets

as at 31 August 2025 Notes Fixed Assets Tangible 7 Investments 8 Current Assets Debtors due within one year 9 Cash at bank and in hand Creditors: due within one year 10 Net Current Assets/(Liabilities) Total Assets less Current Liabilities Creditors: due after more than one year 11 Net Assets excluding Pension Scheme Liability Pension Scheme Liability 19 Net Assets Represented by: Unrestricted Funds: Designated Funds 15 General Reserve 15 Pension Scheme Reserve 15 Restricted Funds 16

Registered Company number: 03954365 Group Charity 2025 2024 2025 2024 £ £ £ £ 61,021,097 43,493,245 59,529,577 41,990,260 5,214,672 4,871,447 5,212,178 4,869,125 66,235,769 48,364,692 64,741,755 46,859,385 19,030,030 2,192,537 19,027,362 2,329,264 19,341,002 21,709,982 18,802,384 21,132,538 38,371,032 23,902,519 37,829,746 23,461,802 (30,325,772) (12,236,742) (31,058,915) (13,003,425) 8,045,260 11,665,777 6,770,831 10,458,377 74,281,029 60,030,469 71,512,586 57,317,762 (15,364,174) (17,364,740) (15,364,174) (17,364,740) 58,916,855 42,665,729 56,148,412 39,953,022 - - - - £58,916,855 £42,665,729 £56,148,412 £39,953,022

429,427 283,808 429,427 283,808 49,791,143 35,161,272 49,421,958 34,800,578 - - - - 8,696,285 7,220,649 6,297,027 4,868,636 £58,916,855 £42,665,729 £56,148,412 £39,953,022

The Parent charitable company’s net movement in funds for the year was a surplus of £16,195,392, (2024: a surplus of £11,143,246).

The financial statements were approved and authorised for issue by the Board and signed below on its behalf on 8 May 2026 by:

Mark Elsey Chair of the Board of Governors

The accompanying notes are an integral part of this balance sheet.

page 28

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Consolidated Cash Flow Statement

for the year ended 31 August 2025

Net cash outflow from operations (note (i)) Net cash provided by operating activities Cash flows from investing activities: Payments for tangible fixed assets Payments to acquire investments Investment income and bank interest received Cash transferred on mergers Net cash used in investing activities Cash flows from financing activities: Finance costs paid Repayment of bank loan Repayment of bank loan on merger New Loan drawdown Net cash used in financing activities Decrease in cash in the year Opening cash and cash equivalents Closing cash and cash equivalents Cash and cash equivalents comprise Cash at bank	2025 £ (1,555,285) (22,716) 872,840 2,838,918	£ 637,846 2,133,757 (5,140,583)	2024 £ (1,798,234) (52,689) 333,828 1,383,534	£ 21,156,146 (133,561) (2,246,139)
	(694,136) (4,439,682) (5,606,765) 5,600,000		(550,832) (1,695,307) - -
		(2,368,980)		18,776,446
		21,709,982		2,933,536
		£19,341,002		£21,709,982
		£19,341,002		£21,709,982

(i) Reconciliation of net income to net cash flow from operating activities Net income before investment gains Net assets acquired on merger (nil consideration) Depreciation Investment income Interest payable Fair value gains and losses on fixed assets Loss on disposal of fixed assets (Increase)/decrease in debtors (Decrease)/increase in creditors (Decrease)/increase in deferred income	2025 £ 15,930,618 (13,248,462) 2,259,690 (872,840) 694,136 - - (15,447,473) 11,162,379 159,797	£ £637,846	2024 £ £ 10,589,581 (5,967,164) 1,817,618 (333,828) 550,832 66,367 10,379 (1,387,935) 15,860,553 (50,257) £21,156,146

page 29

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

(ii) Analysis of changes in net debt

Cash in hand Sub-total Loans falling due within one year Loans falling due after more than one year Net debt	At 1 September 2024 Cash flows Other movements At 31 August 2025 £ £ £ £ 21,709,982 (2,368,980) - 19,341,002
	21,709,982 (2,368,980) 19,341,002 (1,091,557) 1,160,318 (945,962) (877,201) (3,856,583) - (1,374,674) (5,231,257)
	£16,761,842 £(1,208,662) £(2,320,636) £13,232,544

page 30

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Accounting Policies for the year ended 31 August 2025

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

Critical accounting judgments and key sources of estimation uncertainty

In the application of the accounting policies, Governors are required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

In the view of the Governors, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

The key judgements affecting the application of accounting policies relate to:

1. The useful economic lives of tangible fixed assets

2. The fair value of the group’s investment property

3. The assumptions underlying the valuation of the defined benefit pension scheme position

(a) Accounting Convention

The accounts have been prepared under the historical cost convention as modified by the revaluation of investments.

(b) Basis of Consolidation

The activities of the Group’s one subsidiary charity (the Reigate Grammar School Trust) and its non-charitable trading subsidiaries (Reigate Grammar School Trading Limited and Reigate Grammar School International Limited) have been included in the consolidated accounts on a line-by-line basis and are classified appropriately within restricted and unrestricted funds.

(c) Going concern

The Governors consider that there are no material uncertainties that would cast doubt on the Group’s ability to continue as a going concern.

Upon the approval of these financial statements in April 2026, pupil numbers remain consistently high across the family of schools for the remainder of the 2025/2026 academic year and projections for the 2026/2027 academic year and beyond remain positive. A minimal number of notifications have been received across the schools from parents to withdraw children from the schools at the end of the 2025/2026 academic year as a result of the current uncertain economic climate.

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements:

(d) Revenue recognition

All income is recognised when the criteria of entitlement, measurement and probability of receipt have been satisfied.

Tuition fees, less any allowances, bursaries or scholarships awarded from unrestricted funds, are recognised in the period in which the service is provided.

Grants, investment income, including interest receivable, and other miscellaneous income are accounted for on a receivable basis.

page 31

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Accounting Policies for the year ended 31 August 2025 (continued)

(see note 3a for more details). On 30 June 2025, the assets and liabilities of Box Hill School Trust Limited were transferred to Reigate Grammar School and treated as a donation in the accounts (see note 3a for more details).

Other income, which includes fees from lettings and insurance commissions, is accounted for on a receivable basis.

(e) Expenditure

Expenditure is recognised as soon as the related liability is incurred and has been classified under headings that aggregate all costs relating to that category. Liabilities are recognised as soon as there is a legal or constructive obligation committing the Group to the expenditure.

Employment benefits, including holiday pay, are recognised in the period in which they are earned. Termination benefits are recognised in the period in which the decision is made and communicated to the relevant employee(s).

Expenditure on raising funds comprises fundraising costs. Finance costs comprise loan interest payable and the net interest cost relating to the defined benefit pension scheme.

Expenditure on charitable activities comprises expenditure directly related to the provision of education.

Support costs represent indirect costs relating to raising funds and the Schools’ charitable activity. Support costs, including governance costs, are allocated to activities on bases that represent the Trustees’ best estimate of actual use.

Governance costs comprise the costs of running the Schools as a charity, including strategic planning for their future development, auditors’ remuneration, certain legal costs and all costs of complying with constitutional and statutory requirements, such as costs of Board meetings and of preparing the statutory accounts.

Operating lease rentals are recognised on a straight-line basis over the term of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the charitable company. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the SoFA so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

(f) Tangible fixed assets and depreciation

The Group has elected to use the carrying value on 1 September 2014, the date of transition to FRS 102, of any of the freehold land and buildings previously carried at a valuation, as their deemed cost. All other fixed assets are recognised at cost.

Depreciation is provided on freehold buildings in use at 2% per annum, other than the swimming pool (completed at the end of 2008) which is being depreciated over its estimated useful life of 20 years. The premises at Reigate St. Mary’s are freehold assets held within The Reigate Grammar School Trust as a result of the transfer from The Godfrey Searle Choir Trust. The improvements thereon are held within the Charity balance sheet and depreciated at 2% per annum. Depreciation is not provided on Capital Works in Progress until final practical completion of the same.

Depreciation is provided on other fixed assets to write off their cost over estimated useful lives at the following rates: Freehold Improvements 2%-20% straight line All weather pitch 5% straight line Furniture, fittings and equipment 20% straight line Motor vehicles 25% straight line Computers 33% straight line

page 32

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Accounting Policies for the year ended 31 August 2025 (continued)

(g) Investments

Investments are stated at market value and the investment property stated at open market value. Any gains or loss on revaluation is taken to the Statement of Financial Activities.

(h) Financial instruments

Basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable are accounted for on the following basis:

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Debtors and creditors

Debtors and creditors are measured at the transaction price less any provision for impairment. Any losses arising from impairment are recognised as expenditure.

Bank borrowings

Liabilities for borrowings which are subject to a market rate of interest are measured at the value of the amount advanced, less capital repayments.

(i) Pension Schemes

The teaching staff at RGS, RSM, CH, St Christophers, and some at RGS Surrey Hills, are members of the Department for Education superannuation scheme, run by Teachers’ Pensions.

The teaching staff at Micklefield, and some at RGS SH, are members of a defined contribution pension scheme run by AVIVA, known as APTIS.

Support Staff contribute to a number of defined contribution pension schemes:

• TPT – the Independent Schools Pension Scheme (ISPS)

• L&G

• Standard Life

In accordance with FRS 102 the following elements are charged to the SOFA:

• The service costs of pension provision relating to the year, together with the cost of any benefits relating to past service.

• The net finance cost represented by a charge equal to the increase in the present value of the Scheme liabilities and a credit equivalent to the long term expected return on assets.

• The actuarial gain or loss on the Scheme assets and liabilities.

The difference between the market value of assets of the Scheme and the present value of accrued pension liabilities is shown on the Balance Sheet. Where the Scheme is determined to be in a surplus position, a surplus is recognised as an asset only to the extent that this can be recovered in future years through reductions in employer contributions or through a specific refund/reimbursement from the Scheme.

(j) Funds

Unrestricted Funds comprise the accumulated surplus or deficit from the Statement of Financial Activities which is not restricted. They are available for use at the discretion of the Governors in furtherance of the general objectives of the Schools.

The Designated Funds portion of the Unrestricted Funds represents that part of the accumulated surplus which has already been specifically designated for future disbursement.

The Restricted Funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor-imposed conditions.

page 33

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements for the year ended 31 August 2025

1. Fees

1. Fees
Gross fees Total bursaries, scholarships and allowances Less: 1675 bursaries Less: Externally funded bursaries	2025 £ (5,632,401) 1,375,000 143,884	£ 41,906,937 (4,113,517)	2024 £ (5,111,198) 1,250,000 142,899	£ 36,818,445 (3,718,299)
		£37,793,420		£33,100,146

The 1675 bursaries are represented by £1,375,000 from the RGS Foundation (2024: £1,250,000). The externally funded bursaries are from the Peter Harrison Foundation of £140,884 (2024: £139,899) and grants awarded by the Paul Bewshea fund within the RGS Trust of £3,000 (2024: £3,000).

2. Other educational income

Other educational income
Insurance fees Sundry other income	2025 2024 £ £ 88,730 71,153 64,103 37,939
	£152,833 £109,092

page 34

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

3. Donations and legacies

1675 Bursary Fund donations Other donations and legacies Donation on Merger with Micklefield School Donation on Merger with St Christopher’s School Donation on Merger with RGS Surrey Hills	2025 2024 £ £ 2,481,021 1,230,363 9,602 99,636 0 5,967,164 4,864,585 0 8,383,877 0
	£15,739,085 £7,297,163

Note 3a. Charitable acquisition donations

On 28 April 2025, the whole of the assets and liabilities of St Christopher’s School were transferred to Reigate Grammar School. From that date St Christopher’s School operated as a division of the Reigate Grammar School. A summary of the assets and liabilities that transferred to Reigate Grammar School as a charitable acquisition donation are as noted below, recognised at their fair value.

On 30 June 2025, the whole of the assets and liabilities of Box Hill School Trust Limited were transferred to Reigate Grammar School. From that date Box Hill School operated as a division of the Reigate Grammar School. A summary of the assets and liabilities that transferred to Reigate Grammar School as a charitable acquisition donation are as noted below, recognised at their fair value.

Fixed Assets (note 7) Cash at bank and on deposit Other current assets Current liabilities Long term liabilities Restricted Funds Designated Funds Unrestricted Funds	St Christopher’s School 2025 Box Hill School Trust 2025 £ £ 3,511,869 15,389,295 1,842,622 996,296 361,514 359,601 (851,419) (2,754,550) - (5,606,765)
	4,864,585 8,383,877
	1,333 0 0 145,619 4,863,252 8,238,258
	4,864,585 8,383,877

page 35

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

4. Analysis of Total Expenditure: 31 August 2025

Raising funds: Fundraising and development costs Charitable activity: School operating costs Teaching costs Trip expenditure Welfare Premises Support Grants, awards and prizes Finance costs Total expenditure	Staff Other Depreciation Total Costs 2025 £ £ £ £ 289,086 141,340 - 430,426 20,524,116 3,164,688 698,048 24,386,852 - 905,005 - 905,005 - 2,628,454 - 2,628,454 3,185,269 2,403,321 1,561,642 7,150,232 2,635,065 2,425,613 - 5,060,678 - 1,380,184 - 1,380,184 - 694,136 - 694,136
	£26,344,450 £13,601,401 £2,259,690 £42,205,541
	£26,633,536 £13,742,741 £2,259,690 £42,635,967

Support costs include the following major categories of expenditure: Governance costs, marketing costs, professional fees and administrative costs. Governance costs comprise audit fees and expenses relating to Governors’ meetings.

page 36

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

Analysis of Total Expenditure: 31 August 2024

Raising funds: Fundraising and development costs Charitable activity: School operating costs Teaching costs Trip expenditure Welfare Premises Support Grants, awards and prizes Finance costs Total expenditure	Staff Other Depreciation Total Costs 2024 £ £ £ £ 337,525 144,717 - 482,242 17,599,240 3,118,845 560,155 21,278,240 - 851,558 - 851,558 1,736 1,936,656 - 1,938,392 1,498,230 1,912,442 1,257,464 4,668,136 2,523,213 1,256,139 - 3,779,352 - 1,255,127 - 1,255,127 - 550,832 - 550,832
	£21,622,419 £10,881,599 £1,817,619 £34,321,637
	£21,959,944 £11,026,316 £1,817,619 £34,803,879

page 37

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

4. Analysis of Total Expenditure (continued) Other costs comprise: Bank and loan interest (see Note 13) Transport costs Staff recruitment, training and travel Syllabus (incl. printing) School trips Catering Premises Rent, rates light and heat Marketing Insurances Postage and telephone Professional fees Bursaries funded from restricted funds Other	2025 2024 £ £ 693,817 550,812 1,050,886 961,707 175,968 207,607 812,996 782,287 905,005 851,558 2,530,611 1,871,020 566,723 553,636 1,162,641 906,362 362,102 299,622 152,269 130,260 83,719 72,255 605,638 234,752 1,375,000 1,250,000 3,265,366 2,354,438
	£13,742,741 £11,026,316

page 38

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

5. Operating Expenditure Auditors’ remuneration: Parent charity audit Subsidiary companies and charities audit Total auditors’ remuneration – for audit (excluding VAT): Other services (excluding VAT) Depreciation 6. Staff Costs Staff Costs Salaries and wages Social security costs Pension costs	2025 2024 £ £ 39,000 30,900 7,295 6,600 46,295 37,500 34,684 - 2,259,690 1,817,619 2025 2024 £ £ 20,247,522 16,471,017 2,337,312 1,769,865 4,048,702 3,741,025
	£26,633,536 £21,981,907

The key management personnel of the charity are the Head of RGS, the Head of RGS SH, the Head of RSM, the Head of Chinthurst, the Head of Micklefield, the Head of St Christopher’s and the Bursar of RGS. The total remuneration includes employer national insurance and employer pension contributions.

page 39

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements Continued

6. Staff Costs (continued)

The average monthly number of employees during the year was made up as follows:

Teaching (including teaching support staff) Welfare Premises Support (including management and administration)	2025 2024 No. No. 387 370 24 19 35 28 74 67
	520 484

Number of employees where emoluments exceeded £60,000 were: £60,000 – £70,000 £70,001 – £80,000 £80,001 – £90,000 £100,001 – £110,000 £110,001 – £120,000 £120,001 – £130,000 £130,001 – £140,000 £170,001 – £180,000 £320,001 – £330,000 £340,001 – £350,000	2025 2024 No. No. 65 49 9 7 6 3 1 0 2 6 3 2 1 0 1 1 0 1 1 0
	89 69

As at the 31[st] August 2025, 76 of these employees have retirement benefits accruing under defined benefit pension schemes (2024: 62).

There were six termination payments made in the year totalling £125,305, including payments in lieu of notice (2024: £nil). During the year neither the governors nor persons connected with them received any remuneration or other benefits from the Schools. No governors received reimbursement of expenses in the current or prior year.

page 40

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements Continued

7. Tangible Fixed Assets – Group

Tangible Fixed Assets – Group
Cost At 1 September 2024 Transfer on merger Capital Good Scheme Adjustment Additions Disposals Revaluation Surplus/(Loss) At 31 August 2025 Depreciation At 1 September 2024 Charge for the period Disposal At 31 August 2025 Net Book Value At 31 August 2025 At 31 August 2024	Freehold Land & Buildings Furniture, Fittings & Equipment Motor Vehicles Computers Group Total £ £ £ £ £ 55,174,588 1,306,310 264,784 1,763,806 58,509,488 18,500,000 215,759 2,883 182,521 18,901,163 (668,906) (668,906) 824,218 254,625 5,500 470,942 1,555,285 - - - - - - - - - -
	73,829,900 1,776,694 273,167 2,417,269 78,297,030
	(13,401,156) (572,991) (108,412) (933,684) (15,016,243) (1,419,843) (238,591) (62,311) (538,945) (2,259,690) - - - - -
	(14,820,999) (811,582) (170,723) (1,472,629) (17,275,933)
	£59,008,901 £965,112 £102,444 £944,640 £61,021,097
	£41,773,433 £733,319 £156,371 £830,122 £43,493,245

page 41

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements Continued

7. Tangible Fixed Assets (continued) – Charity

	Freehold	Furniture,
	Land and	Fittings and	Motor		Charity
	Buildings	Equipment	Vehicles	Computers	Total
	£	£	£	£	£
Cost
At 1 September 2024	53,524,453	1,306,310	264,784	1,763,806	56,859,353
Transfer on merger	18,500,000	215,759	2,883	182,521	18,901,163
Capital Good Scheme Adjustment	(668,906)				(668,906)
Additions	824,218	254,625	5,500	470,942	1,555,285
Disposals	-	-	-	-	-
At 31 August 2025	72,179,765	1,776,694	273,167	2,417,269	76,646,895
Depreciation
At 1 September 2024	(13,254,007)	(572,991)	(108,412)	(933,684)	(14,869,094)
Charge for the period	(1,408,377)	(238,591)	(62,311)	(538,945)	(2,248,224)
Disposals	-	-	-	-	-
At 31 August 2025	(14,662,384)	(811,582)	(170,723)	(1,472,629)	(17,117,318)
Net Book Value
At 31 August 2025	£57,517,381	£965,112	£102,444	£944,640	£59,529,577
At 31 August 2024	£40,270,446	£733,320	£156,372	£830,122	£41,990,260

page 42

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

8. Investments

Market value brought forward Additions Transfer on Merge Change in market value Market value carried forward Historical cost 9. Debtors Amounts due within one year Tuition fees Prepayments Sundry debtors Capital Good Scheme Adjustment Intercompany debtors

Group Charity 2025 2024 2025 2024 £ £ £ £ 4,871,447 4,255,545 4,869,125 4,253,387 0 52,689 0 52,689 22,717 0 22,716 0 320,508 563,213 320,337 563,049 £5,214,672 £4,871,447 £5,212,178 £4,869,125 £3,898,897 £3,876,180 £3,898,550 £3,875,833 Group Charity 2025 2024 2025 2024 £ £ £ £ 14,905,799 314,409 14,905,799 314,409 1,080,949 429,544 800,566 288,849 2,374,376 1,448,584 2,374,207 1,448,122 668,906 0 668,906 0 - - 277,884 277,884

£19,030,030 £2,192,537 £19,027,362 £2,329,264

page 43

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements Continued

10. Creditors: falling due within one year

Bank loan (Note 13) Amounts due to group undertakings Trade creditors Tax and social security Other creditors and accruals Composition fees (Note 12) Entrance deposits Fees received in advance	Group Charity 2025 2024 2025 2024 £ £ £ £ 877,201 1,091,557 877,201 1,091,557 - - 800,000 800,000 2,799,160 1,501,375 2,799,160 1,501,375 (5,570) (10,314) (5,570) (10,314) 18,756,508 1,152,360 18,689,651 1,119,043 5,764,595 6,851,261 5,764,595 6,851,261 400,002 76,425 400,002 76,425 1,733,876 1,574,078 1,733,876 1,574,078
	£30,325,772 £12,236,742 £31,058,915 £13,003,425

The bank loans are secured on certain freehold properties owned by the Group.

11. Creditors: falling due in more than one year

. Creditors: falling due in more than	one year
	Group		Charity
	2025	2024	2025	2024
	£	£	£	£
Bank loan (Note 13)	5,231,257	3,856,583	5,231,257	3,856,583
Entrance deposits	1,885,008	1,207,825	1,885,008	1,207,825
Composition fees (Note 12)	8,247,909	12,300,332	8,247,909	12,300,332
	£15,364,174	£17,364,740	£15,364,174	£17,364,740

page 44

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

12. Composition Scheme

. Composition Scheme
	Group		Charity
	2025	2024	2025	2024
	£	£	£	£
After five years	735,766	976,461	735,766	976,461
Within two to five years	3,885,483	6,305,853	3,885,483	6,305,853
Within one to two years	3,626,659	5,018,018	3,626,659	5,018,018
Total over one year:	8,247,908	12,300,332	8,247,908	12,300,332
Within one year	5,764,595	6,851,261	5,764,595	6,851,261
	£14,012,503	£19,151,593	£14,012,503	£19,151,593

Parents may enter the Schools’ Composition Scheme, to pay school fees in advance. Parents can pay into the scheme for a period of up to 14 years, from the beginning of Reception in the preparatory schools to the end of Sixth Form at RGS or RGS Surrey Hills. The money may be returned to parents, subject to specific conditions upon the receipt of written notice from the parents who have provided funds to the Schools. A commutation rate of 2.375% p.a. is applied to the funds in the scheme. The funds in the composition scheme will be applied as shown in the table above.

Below is a reconciliation of movements in the balance of the Group Composition scheme from 1 September 2023 to 31 August 2025:

Balance as at 1 September 2024 (and 2023) New payments into the Composition Scheme Amounts repaid to parents during the year Amounts drawn down from the Scheme to pay for school fees Commutation rate applied Balance as at 31 August 2025 (and 2024)	2025 2024 £ £ 19,151,593 2,773,732 2,340,587 17,790,400 (423,667) (112,355) (7,335,214) (1,335,522) 279,204 35,338
	£14,012,503 £19,151,593

page 45

Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

13. Loans

The bank loans are repayable as follows: Within one year One to two years Two to five years Over five years	Group Charity 2025 2024 2025 2024 £ £ £ £ 877,201 1,091,557 877,201 1,091,557 367,213 954,083 367,213 954,083 1,101,639 1,336,875 1,101,639 1,336,875 3,762,405 1,565,625 3,762,405 1,565,625
	£6,108,458 £4,948,140 £6,108,458 £4,948,140

The long-term bank loans comprise of two secured loans. One for £5.6m was drawn down in June 2025 for the purpose of refinancing a facility made available to Box Hill School Trust Limited in 2019. The balance as at 31[st] August 2025 on this loan is £5.6m. The second loan is an existing loan which was forward fixed at a rate of 4.01% from 7 June 2020 to 7 June 2026. The balance on this loan as at 31 August 2025 is £508,458 (2024: £1,154,390).

A Term loan for £5m, used to build the Harrison Centre, was fully repaid in June 2025. The balance as at 31 August 2025 on this loan is therefore £nil (2024: £2,193,750). Another term loan of £2m which was used by the charity in July 2019 to complete the buy-back of the Chinthurst main school building from J.H. Lorimer, was also fully repaid in June 2025. So the balance on this loan as at 31 August 2025 is also £nil (2024: £1,600,000).

A new ‘Revolving Credit Facility’ (‘RCF’) was entered in to in June 2025, for a period of 5 years. Under the RCF up to £11m can be drawn down at any one point in time, reducing by £1m each year. This facility was not drawn down as at 31 August 2025 (2024: No facility in place).

14. Operating Lease Commitments

At 31 August 2025, the Charity and Group had the following commitments under non-cancellable operating leases.

Operating leases which expire: Within one year In two to five years	2025 2024 £ £ 201,331 2,993 408,612 1,738
	609,943 4,731

The leases are in respect of equipment used by RGS SH, Micklefield and St Christopher’s.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

15. Unrestricted Funds – Group

Designated Funds: Building Development Fund Chinthurst RGS Surrey Hill General Reserve Total unrestricted funds Designated Funds: Building Development Fund Chinthurst General Reserve Pension scheme reserve Total unrestricted funds	01-Sep-24 Income Expenditure Transfers and Investment Gains and Losses Transfer from St Christopher’s & RGS Surrey Hills 31-Aug-25 £ £ £ £ £ £ 282,814 - - - - 282,814 994 - - - - 994 - - - - 145,619 145,619 35,161,272 42,764,232 (41,235,188) (683) 13,101,510 49,791,143
	£35,445,080 £42,764,232 £(41,235,188) £(683) £13,247,129 £50,220,570
	01-Sep-23 Income Expenditure Transfers and Investment Gains and Losses Transfer from Micklefield 31-Aug-24 £ £ £ £ £ £ 282,814 - - - - 282,814 994 - - - - 994 24,614,485 38,109,270 (33,538,028) 10,285 5,965,260 35,161,272 - - - - - - £24,898,293 £38,109,270 £(33,538,028) £10,285 £5,965,260 £35,445,080

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

16. Restricted Funds – Group and Charity

Charity RGS Foundation - 1675 Bursary Fund - Sports Centre Fund - General Fund Stanley James Osmond Bequest Paul Flanagan Prize Daniel Clarke Award 100 Club Fund Illing Prize Fund CCF Total Charity: RGS Trust Paul Bewshea Fund Foundation and Charity Funds Godfrey Searle Property Total RGS Trust: Total Group Restricted Funds:	01-Sep-24 Income Expenditure Transfers and Investment Gains and Losses Transfer from St Christopher’s & RGS Surrey Hills 31-Aug-25 £ £ £ £ £ £ 4,726,670 1,010,739 (1,375,000) 320,903 - 4,683,312 - 1,470,282 - - - 1,470,282 90,842 150 - - 1,333 92,325 5,442 - - - - 5,442 290 - - - - 290 2,926 - - - - 2,926 29,526 7,323 (9,815) - - 27,034 9,565 - - 116 - 9,681 3,375 2,360 - - - 5,735
	4,868,636 2,490,854 (1,384,815) 321,019 1,333 6,297,027
	26,494 - (3,363) - - 23,131 12,657 134 (363) 172 - 12,599 2,312,862 62,903 (12,238) - - 2,363,528
	2,352,013 63,037 (15,964) 172 - 2,399,258
	7,220,649 £2,553,891 £(1,400,779) £321,191 £1,333 8,696,285

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

16. Restricted Funds – Group and Charity

Charity RGS Foundation - 1675 Bursary Fund - General Fund Stanley James Osmond Bequest Paul Flanagan Prize Daniel Clarke Award 100 Club Fund Illing Prize Fund CCF Total Charity: RGS Trust Paul Bewshea Fund Foundation and Charity Funds Godfrey Searle Property Total RGS Trust: Total Group Restricted Funds:	01-Sep-23 Income Expenditure Transfers and Investment Gains and Losses Transfer from Micklefield 31-Aug-24 £ £ £ £ £ £ 4,193,882 1,230,363 (1,250,000) 552,425 - 4,726,670 88,818 120 - - 1,904 90,842 5,442 - - - - 5,442 290 - - - - 290 2,926 - - - - 2,926 10,010 19,516 - - - 29,526 9,225 - - 340 - 9,565 3,375 - - - - 3,375
	4,313,968 1,249,999 (1,250,000) 552,765 1,904 4,868,636
	29,819 - (3,325) - - 26,494 12,690 129 (325) 163 - 12,657 2,258,165 66,898 (12,201) - - 2,312,862
	2,300,674 67,027 (15,851) 163 - 2,352,013
	£6,614,642 £1,317,026 £(1,265,851) £552,928 £1,904 £7,220,649

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

16. Restricted Funds (continued)

The Charity has nine restricted funds, as follows:

• The RGS Foundation was set up to hold monies from fundraising undertaken by the Schools. All monies received have been credited, on the instructions of the individual donors, either to the 1675 Bursary Fund, the Sports Centre Fund, or to a General Fund. The General Fund is used to finance the cost of equipment or minor works that would not normally be funded by the Schools. Potential donors are made aware of these items which have been specifically identified in advance by the Schools. All Foundation monies held are recorded as separate restricted funds of Reigate Grammar School. In summer 2021, the Schools were gifted a property in Monks Walk, Reigate, from a former teacher, Mr Robin Bligh, in his will. This was valued at £800,000 in the accounts as at 31 August 2021. During 22/23 this property was sold and was included as an RGS Foundation restricted fund as at 31 August 2023 at the value it was sold, net of costs, which was £971,232 (this asset was held at £800,000, which was the probate value, as at 31 August 2021).

• The Stanley James Osmond Bequest represents monies left to Reigate St Mary’s Preparatory & Choir School for the express benefit of the four “houses” at that school.

• The Paul Flanagan Prize represents money donated to the Schools by the widow of Paul Flanagan, late Head of Economics, for the express purpose of providing an annual prize for Economics.

• The Daniel Clarke fund represents money donated to the Schools by the family of Daniel Clarke, a former pupil of Reigate Grammar School, for the purpose of providing a memorial to Daniel.

• The 100 Club has been created to establish funds to subsidise students to go on school trips.

• The income from the Illing Prize Fund is used towards annual prizes given at Chinthurst School.

• The Schools runs a successful CCF programme at RGS and a restricted fund has been created to ensure these monies are treated as a separate fund.

The RGS Trust has three funds, as follows:

• The Paul Bewshea Fund was set up to provide financial assistance to students who have achieved excellent academic results and have also shown an interest in aviation or science as a career.

• The Foundation and Charity Funds were set up to provide for the cost of awarding, as appropriate, other prizes and awards.

• The Godfrey Searle Property Fund was created by the donation of land and buildings by the Godfrey Searle Choir Trust in 2011. The transfer of the land to the Trust, rather than to the Schools, reflected that the land, in part, is subject to permanent endowment. The costs of maintaining the properties are borne by the fund and income arising accrues to the fund.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

17. Taxation

Reigate Grammar School and the RGS Trust are registered charities and are exempt from taxation on their income. VAT is payable on taxable supplies in accordance with current legislation.

18. Pensions

Teachers’ Pension Scheme

RGS, RSM, Chinthurst, St Christopher’s and RGS Surrey Hills participate in the Teachers' Pension Scheme ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £3,359,006 (2024: £2,778,880) and at the year-end £319,100 (2024: £253,534) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023.

Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation has valued the ‘greater value’ benefits for groups of relevant members.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements Continued

19. Subsidiary undertakings

Reigate Grammar School Limited has three subsidiary undertakings: Reigate Grammar School Trust (RGST); Reigate Grammar School Trading Limited (RGS Trading), and Reigate Grammar School International Limited (RGS International). Reigate Grammar School Limited is the sole Trustee of RGST, a charity registered in England and Wales (Charity Number: 312030). Reigate Grammar School Limited owns 100% of the share capital of RGS Trading, a company registered in England and Wales (Company number: 10163737). RGS Trading was incorporated on 8 May 2016. Reigate Grammar School Limited owns 100% of the share capital of RGS International, a company registered in England and Wales (Company number: 10815400). RGS International was incorporated on 13 June 2017. A summary of their results for the period and balance sheet position as at 31 August 2025 is set out below:

Income and expenditure Income Expenditure Investment (losses)/ gains Fair value movements Surplus/(deficit) for the year Balance sheet Tangible assets Investments Current assets Current liabilities Long term liabilities Net assets/(liabilities) Represented by: Unrestricted funds Restricted and designated funds Total funds	RGST 2025 £ 63,037 (15,964) 172 47,245 1,291,519 2,493 1,106,777 (1,531) - £2,399,258 - 2,399,258 £2,399,258	2024 £ 67,027 (15,851) 163 51,339 1,302,986 2,322 1,048,123 (1,418) - £2,352,013 - 2,352,013 £2,352,013	RGS Trading 2025 £ 8,293 (5,432) - 2,861 200,000 - 14,548 (281,026) - £(66,478) £(66,478) - £(66,478)	2024 £ 6,181 (3,581) - (66,367) (63,767) 200,000 - 11,851 (281,189) - £(69,338) £(69,338) - £(69,338)	RGS International 2025 2024 £ £ 1,360,331 922,995 (932,734) (501,025) - - 427,597 421,970 - - - - 497,844 458,628 (62,741) (29,152) £435,103 £429,476 435,103 429,476 - - £435,103 £429,476	RGS International 2025 2024 £ £ 1,360,331 922,995 (932,734) (501,025) - - 427,597 421,970 - - - - 497,844 458,628 (62,741) (29,152) £435,103 £429,476 435,103 429,476 - - £435,103 £429,476
						£429,476
						429,476 -
						£429,476

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements Continued

20. Related Parties

In the 2024/25 academic year, one Governor had a child who attends Reigate Grammar School as a pupil and pays full fees.

RGS occupies and maintains the main school building and associated land on behalf of the Reigate Grammar School Trust, which own the freehold. Reigate Grammar School Limited is the corporate trustee of Reigate Grammar School Trust which prepares, and submits, separate accounts. There is a £800,000 loan from the RGS Trust to RGS Limited (2024: £800,000). The loan is repayable at any time on demand by the Trust, and the Trust may at any time, by notice to RGS Limited, cancel its commitment to advance the Loan or any part of it. The maximum amount to be lent to RGS Limited is £1,000,000. Interest payable on the loan was £54,477 during the year (2023: £59,833).

RGS Limited lent an amount of £277,884 to RGS Trading to facilitate the purchase of freehold assets within RGS Trading in 2016. An intercompany creditor of £277,884 (2024: £277,884) is contained within the RGS Trading entity, with an equal and opposite balance being included within RGS.

Reigate Grammar School Limited bears the cost of its own Bursary scheme other than as set out in Note 1 above. Assets raised for the purpose of funding the Bursary Scheme prior to 2000 are held by Reigate Grammar School Trust, and in the year ended 31 August 2024 an amount of £3,000 (2024: £3,000) was received by the Schools from the Trust by way of subsidy.

There were no other related party transactions.

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements Continued

21. Analysis of Group Funds

Tangible fixed assets and investments Net current assets/(liabilities) Long term liabilities Net Funds Tangible fixed assets and investments Net current assets/(liabilities) Long term liabilities Net Funds

	Restricted	Unrestricted	Total
	Funds	Funds	2025
	£	£	£
	6,375,231	59,860,538	66,235,769
	2,321,054	5,724,206	8,045,260
	-	(15,364,174)	(15,364,174)
	8,696,285	£50,220,570	£58,916,855

Restricted	Unrestricted	Total
Funds	Funds	2024
£	£	£
6,065,340	42,299,352	48,364,692
1,155,309	10,510,468	11,665,777
-	(17,364,740)	(17,364,740)
£7,220,649	£35,445,080	£42,665,729

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Reigate Grammar School – Consolidated Financial Statements for the year ended 31 August 2025

Notes to the Financial Statements

Continued

22. Comparative statement of financial activities Income from: Charitable activities: School fees receivable Registration fees Trip income Catering income Coach income Other educational income Donations and legacies Lettings Investments Trading income Other income Total Income Expenditure on: Raising funds: Fundraising & Development Charitable activities: Education Total Expenditure Net Income from operations before transfers and investment gains Unrealised investment gains Gain on disposal of tangible fixed assets Net Income Pension scheme actuarial gains Net Movement in Funds for the year Balance brought forward at 1 September 2023 Balance carried forward at 31 August 2024	Unrestricted Restricted Total Funds Funds 2024 £ £ £ 33,100,406 - 33,100,406 105,700 - 105,700 855,159 - 855,159 665,657 - 665,657 489,612 - 489,612 109,092 - 109,092 6,045,260 1,251,903 7,297,163 212,358 - 212,358 266,801 67,027 333,828 922,995 1,301,750 - 922,995 1,301,750
	44,074,530 1,318,930 45,393,460
	482,242 - 482,242 33,055,786 1,265,851 34,321,637
	33,538,028 1,265,851 34,803,879
	10,536,502 53,079 10,589,581 10,285 552,928 563,213 - - -
	10,546,787 606,007 11,152,794 - - -
	10,546,787 606,007 11,152,794 24,898,293 6,614,642 31,512,935
	35,445,080 7,220,649 42,665,729

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