2025-08-31-accounts

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Registered number: 04002372 Charity number: 1084965

Dame Allan's Schools

(A company limited by guarantee)

Annual report

31 August 2025

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Contents

	Page
Reference and administrative details	1 - 2
Governors' report	3 - 18
Governors' responsibilities statement	19
Independent auditor's report to the members of Dame Allan's Schools	20 - 23
Statement of financial activities	24
Balance sheet	25
Statement of cash flows	26
Notes to the financial statements	27 - 50

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Reference and administrative details Year ended 31 August 2025

Governors	Mr D Arthur (Chairman), Co-optative Governor
	Mr M Ahmad, Co-optative Governor
	Ms C Aston (appointed 16 October 2025)
	The Very Reverend L Batson, Ex-officio Governor (appointed 17 October 2024)
	Mrs C Bell, Co-optative Governor (resigned 17 April 2025)
	Mr S Bell, Co-optative Governor (appointed 20 June 2024)
	Mr D Bowman, Co-optative Governor (appointed 25 January 2024)
	Mr A Chicken, Co-optative Governor
	Mr D Foreman, Co-optative Governor (appointed 17 October 2024)
	Mr T Gray, Co-optative Governor (resigned 27 January 2025)
	Mrs M Hinson, Co-optative Governor
	Dr S L Johnson, Parent Governor
	Dr V Morrell, Parent Governor
	Dr P Paes, Co-optative Governor (resigned 27 January 2025)
	Mrs M Peutherer, Co-optative Governor
	Mr S Taylor, Parent Governor (resigned 14 April 2025)
	Mrs L A Watson, Co-optative Governor (appointed 9 April 2025)
Company registered number 04002372 Charity registered number 1084965 Registered office Fowberry Crescent Fenham Newcastle upon Tyne NE4 9YJ Principal Mr W M Scott Clerk to the Governors Mrs V McDonald Independent auditor UNW LLP Citygate St James' Boulevard Newcastle upon Tyne NE1 4JE Bankers Lloyds Bank plc 102 Grey Street Newcastle upon Tyne NE99 1SL Solicitors Muckle LLP Time Central 32 Gallowgate Newcastle upon Tyne NE1 4BF

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Dame Allan's Schools

(A company limited by guarantee)

Reference and administrative details (continued) Year ended 31 August 2025

Investment advisers Brewin Dolphin Securities Limited Time Central 32 Gallowgate Newcastle upon Tyne NE1 4SR Rathbones Investment Management Earl Grey House 75-85 Grey Street Newcastle upon Tyne NE1 6EF Insurance broker Marsh Brokers Limited Capital House 1-5 Perrymount Road Haywards Heath West Sussex RH16 3SY

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report Year ended 31 August 2025

The Governors present their report and financial statements for the year ended 31 August 2025 and confirm they comply with the requirements of the Charities Act 2011, the Trust Deed and the Charities Statement of Recommended Practice (FRS 102).

PURPOSE AND ACTIVITIES

Dame Allan's Schools is a charitable company limited by guarantee. The Charity was established for the provision of day schools for girls and boys in or near the City of Newcastle upon Tyne.

Vision

Our vision is for every child at Dame Allan’s to seize opportunities for discovery and development with confidence, pursuing excellence in everything they do.

Our mission

Dame Allan's exists to provide a rich and inspiring experience of education, to bring opportunity and aspiration to the lives of children, to impart a lifelong love of learning and prepare them with the skills, attributes and values to lead meaningful and successful lives, enabling them each to make their own positive contribution to society.

Our ethos

Our values - we exist to provide the best education to every pupil, regardless of background, within an inspiring and supportive environment as informed by the Schools’ Anglican foundation and traditions. Embedded within our community is the expectation that pupils are not only purposeful and tenacious, but also tolerant, caring and supportive of each other, underlining that when children feel valued and known, there is far greater likelihood of them becoming happy and successful adults.

Discovery and achievement - Dame Allan's pupils are challenged to discover and develop their sporting, artistic, leadership and other talents alongside their academic abilities, and to aspire for excellence in all that they do. They should always strive for their best, recognising setbacks as opportunities to reflect and learn. At Dame Allan's, pupils are given a structure and richness of experience through which new skills are learnt and knowledge embedded. They grasp opportunities to achieve beyond any externally or self-imposed limits and press ahead confidently in their academic and personal development.

Within the Dame Allan's family and beyond - at the heart of our aims is a concern for each pupil’s welfare and for their positive development as an individual and member of the Dame Allan's family. Whilst the Schools are a community of pupils, parents, staff, alumni, governors and others, we value the individual’s needs and recognise the importance of supporting each other. We emphasise the interdependence of the individual and the community at local, national and international levels. We ask pupils to show care and concern for others within this orderly and supportive place, acting with consideration and respect for other people, themselves and their environment.

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

Allanian Core Values

Drawn from our ethos and objectives, we expect every pupil to develop values, skills and attributes that will enable them to achieve to the best of their abilities as follows:

Activities for achieving our purpose

Dame Allan's Schools aim to provide a first-class education for boys and girls aged 3 to 18, from all cultures and backgrounds, within a supportive environment informed by the Schools' Anglican foundation and traditions. Pupils are encouraged to make the best use of their many and varied abilities. The Schools look to establish and maintain high moral standards within a clear framework. The Schools provide a structure within which skills are learnt and knowledge gained so that pupils may achieve the best academic results of which they are capable. The Schools aim to prepare pupils to flourish as adults in a rapidly changing world.

The Schools also aim to provide a rich mixture of experiences for pupils to develop sporting, artistic, leadership and other talents alongside their academic achievements. They encourage pupils to develop an awareness of their individual strengths and to make full use of them.

The Schools encourage the development of the qualities of self-discipline, self-confidence and independence whilst creating a community in which all members care for each other as in a family. They also emphasise the interdependence of the individual and the community at local, national and international levels and encourage pupils to show care and concern for others.

At the heart of these aims is a concern for each pupil's welfare, for their positive development as an individual and as a member of the Schools' community both inside and outside the classroom. This development is to be within an orderly, safe and supportive community in which all members feel comfortable and act with consideration and respect for other people, themselves and the environment.

The Schools are committed to safeguarding and promoting the welfare of pupils and expect all staff and volunteers to share this commitment. The Schools have an excellent reputation for the pastoral care provided to pupils. Parents are given regular information about their children's social and academic progress through parents' evenings in addition to regular grading and annual reports. The Schools maintain regular contact with parents throughout the year through informal contacts and through newsletters and events.

The Schools provide a pastoral system with the staffing, skills and experience to meet the needs for attention and support of every individual child. The role of the Director of Teaching & Learning is to link the Schools' concern for pupils' pastoral care and their academic development. The role of the Director of Pupil Wellbeing is to ensure that pupil welfare is at the centre of our work. In the Junior School, the Head is supported by the Deputy Head, phase leaders and pastoral leads whose responsibilities are for the academic and pastoral

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

oversight of pupils in their care.

The Schools also make use of the services of external counsellors, an in-house psychological therapist and the chaplain who base their work in ‘The Snug’ a purpose-built facility for pupil wellbeing at the Senior Schools, and the ‘Cosy Snug’ at the Junior School. Senior pupils also provide support for younger pupils, both as form prefects and mentors, and also as students who complete the Schools' in-house listening skills and peer-mentoring courses.

The Schools' policy on admission states that they seek to select pupils of academic potential irrespective of any protected characteristics. Entrance examination and interview procedures are arranged to ensure that no applicant is disadvantaged. Special arrangements are made in advance of examinations or interviews for any applicant who has a disability including the provision of extra time for applicants who have a recognised specific learning difficulty. Arrangements are discussed in advance with the parents and the current school of the candidate. Relevant specialist reports are sought in advance of entrance examinations and interviews where appropriate.

Once admitted to the Schools, all pupils and staff are offered opportunities in accordance with the Schools' policy which states that the Schools are committed to securing equality of opportunity through the creation of an environment in which all individuals are treated on the basis of their relevant merits and abilities. The Schools oppose all forms of unlawful or unfair discrimination towards any members of the Schools' community on the grounds of any protected characteristic, and aim to ensure equal treatment for all. The Schools promote the concept of equality of opportunity throughout the organisation, both for staff and pupils.

The Schools are also committed to promoting the health, welfare and safety of their pupils both by ensuring that safe recruitment policies and practices are followed with regard to all staff - teaching and support - and also by maintaining and further developing the Schools' pastoral care.

STRATEGIC REPORT

Public benefit

All education provides public benefit in enabling young people to grow into successful, civic-minded contributors to society throughout their adult lives. Further to this, Dame Allan’s admits a significant number of pupils on means-tested bursaries, children whose families would not be able to afford the fees and who are therefore provided with the highest quality of education at no cost to the taxpayer. In 2024/25 means-tested fees remissions amounted to 9.2% of gross fee income, assisting 133 pupils in total.

Leavers go on to achieve many things, forging careers and building communities, adding to the civic capital of our country to the benefit of wider society. The Schools also engage in a significant number of partnerships with local charities, grassroots organisations and schools, enabling access to the Schools’ facilities and teaching expertise, for instance.

Examples of Dame Allan’s Schools’ public benefit are woven through this report, much as it is through the life of the Schools and their integral place in the local community.

Economic impact

As well as the public benefit summarised above and detailed through this report, Dame Allan’s provides a substantial economic benefit to the city of Newcastle and the surrounding region, as well as the national economy. Calculations from the Independent Schools Council estimate that in 2024/25 Dame Allan’s Schools’ total contribution to national GDP was £29.1m through direct and indirect channels; 1,293 pupils were educated at no cost to the state, providing a direct saving of £8.4m to the taxpayer; additionally, tax which was paid directly and indirectly as a result of our activities came to a total of £12.1m.

The local economy was supported by direct employment of an average of 236 staff over the year, the substantial

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

majority in higher-income roles, with an additional 343 jobs supported nationally through suppliers and the expenditure of staff incomes. The Schools’ situation in the west of Newcastle, a local authority recently ranked 53rd most income-deprived of 316 in England, means that they are bordered by wards in the 17% most incomedeprived in the country. Many pupils on bursary assistance live in these wards, within walking distance of the Schools. The economic and social benefits of the Schools are felt well beyond the walls through the employment, education and partnerships that are the hallmark of Dame Allan’s.

Pupil numbers and fees

Our educational activities are carried out through our Senior Schools, Sixth Form and Junior School. Pupil numbers in the Schools have fallen slightly, as expected, since the introduction of VAT in January 2025: the current roll of 1,246 showing a 3.6% reduction on the 2024/25 average figure of 1,293 and a 1.7% reduction from the 2023/24 figure of 1,267.

The Governors are conscious of the pressures on parents to meet fees and have continued to ensure that any rises are kept to the minimum possible. The fees are therefore set at a level to ensure the financial viability of the Schools and at a level that is consistent with our aim of providing a first-class education to boys and girls. The tuition fees for the academic year 2024/25 were £6,901 per term in the Senior Schools and in the Junior School £5,607 (Key Stages 1 and 2) and £4,240 (Early Years) per term respectively. Figures are inclusive of VAT.

Pupils’ academic progress

Academically, Dame Allan’s pupils have continued to achieve excellent outcomes across both A Level and GCSE. A broad and challenging academic curriculum ensures that all pupils thrive, both in relation to their individual starting points (value-added) and in national benchmarks.

Academic developments focus on meeting the needs of every individual learner, inspiring and expecting their best, challenging and supporting as needed, in order to encourage inquiry, aspiration and determination. Whether future doctors or dancers, every child is supported to achieve excellence in their chosen field. A key area of focus is raising the sights of all pupils, exposing them to valuable experiences and opportunities through trips, guest speakers and the co-curricular programme.

Beyond public exams, pupils across the Junior and Senior Schools have shone individually. In the Junior School, a Year 3 pupil won a gold award in the Primary Engineer competition, one of just three in the country. The challenging Extended Project Qualification (EPQ) saw over 60% of students achieve an A or A* grade, and pupil participation in challenging academic ‘extras’ including public speaking, enterprise projects, and the very popular pupil-led academic societies, continued to grow and thrive. At sixth form, A Level students successfully secured places at prestigious dance and music conservatoires, as well as for the most competitive courses in Medicine, Dentistry and Veterinary Science, and at Oxford and Cambridge to read Engineering, History and Spanish, and Philosophy.

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

A Levels

Of 410 results for 134 candidates, we had our best proportion of grades at A to B (in non-pandemic affected years) of over 78% and a strong A and A outcome at nearly 50%.

Dame Allan’s % cumulative results at each grade, last 8 years:

	A*	A	B	C	D	E
2018	5.6	24.4	56.7	83.3	94.4	98.9
2019	7.6	34.5	65.2	87.5	96.6	99.4
2020*	19.5	52.5	81.9	96.8	99.6	100
2021*	24.8	54.7	83.6	94.2	98.9	100
2022*	22.8	55.6	83.9	95.6	99.2	100
2023	16.9	48.1	74.6	90.4	98.3	99.7
2024	21.7	40.9	70.3	92.0	98.1	99.7
2025	17.5	49.3	78.6	93.2	99.3	99.8

*2020, 2021 and 2022 grades were pandemic affected

With national A Level grading now firmly re-established at 2019 standards for the last few years, we had a more stable basis for understanding the broader picture and our performance against that. Across England, A/A grade awards rose to 28.2% (from 27.6% in 2024; 26.5% in 2023). In the North East, 22.9% of grades were at A/A, down from last year and still the lowest region in England, and almost 10% points lower than the top region, London.

Our Maths and Further Maths candidates were top performers again this year, contributing between them 18 of the total of 68 grades awarded at A, alongside a strong haul of As and Bs. Other significant contributions to good overall results came from big subjects, including History, Chemistry and Economics. Among smaller subjects, Art did particularly well, with 4 of 11 candidates achieving A and all achieving at least B.

GCSEs

In this year group with 1355 GCSE entries across the 147 candidates in Boys’ and Girls' Schools, 62.3% were awarded grades 9 to 7, a rise of 3.0% points on last year and, barring the pandemic-affected years, the strongest since 2019’s first full set of reformed GCSE results. Particularly pleasing was the proportion of grade 9s at 26.4% of all grades awarded and grades 9-8 at 44.2%, significantly our strongest achievements in recent years. Another positive aspect of our results this year, on top of strong results at the highest grades, is the closing of the gap from boys to girls across the grade range.

Dame Allan’s % of GCSE results at grades 9 to 7, last 7 years:

	Girls	Boys	Combined
	% grade 9-7	% grade 9-7	% grade 9-7
2019	63.4	53.7	58.1
2020*	76.7	67.7	72.1
2021*	77.9	60.7	68.8
2022*	76.6	67.0	71.1
2023	64.6	58.0	60.7
2024	66.3	53.7	59.3
2025	67.1	59.0	62.3

*2020, 2021 and 2022 grades were pandemic affected

With national GCSE grading now firmly re-established at 2019 standards for the last few years, we have had a more stable basis for understanding the broader picture and our performance against that. Across England, results at grades 9 to 7 rose to 23.0% (from 22.6% in 2024, 21.8% in 2019); in the north east, 17.8% of results this year again were at grades 9 to 7 - still the lowest regional outcome, versus the highest in London at 28.4%. The independent sector average for grades 9 to 7 was down to 48.1% from 48.4% last year (47% in 2019).

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

As at A Level, among larger subjects, the Mathematics department has again been a strong performer with 72.1% of grades at 9-7 and an outstanding 28.6% at grade 9, as well as excellent Further Maths results at 60% grade 9. The separate sciences have also raised the average, with Biology notably strong at 75% grades 9-7 and much improved combined science results to add to the broader uplift.

Pupils’ personal development and welfare

Dame Allan’s pupils develop into happy, successful and well-adjusted young adults, with the Schools aiming to nurture the ‘whole child’ during their time in education. Much progress has been made over the last year in ensuring that the Schools are meeting the needs of all pupils as individuals and helping them to realise their personal development potential.

Dame Allan’s has always been forward-thinking when it comes to pastoral care; it was the first independent school in Newcastle to employ a dedicated counsellor over 20 years ago. Going forward, the Schools will persevere with their goal to be at the forefront of delivering industry-leading pastoral care. The Director of Pupil Wellbeing and her support team have been integral in driving forward our Personal Social Health and Economic Education (PSHEE) programme; expansion and restructuring of counselling and psychotherapy services; an increased focus on wellbeing in our Designated Safeguarding Leads training; and increasing use of systems to gauge wellbeing, such as the anonymous reporting platform Whisper and regular sleep and mental health surveys via Govox.

Within both the Junior and Senior Schools, care has been taken to ensure pupils have a safe and welcoming space to support their pastoral needs. The Cosy Snug at the Junior School and The Snug at the Senior School continue to be well-used and important safe spaces for pupils of all ages. These welcoming areas offer a relaxed and private setting for pupils who access SEND support, counselling and psychotherapy, as well as the support of the Schools’ therapy dogs, and therapeutic tools like the ‘Worry Monster’ and art therapy sessions.

Pupil-led initiatives have also shaped pastoral offerings, most recently suggesting that an anonymous whistleblowing service would enhance opportunities for logging pastoral concerns. This led to the development of the initiative ‘Whisper’, where pupils can text or email concerns to the pastoral team anonymously. Pupils suggested that it could be used for a wide range of concerns, from being worried about a friend not eating enough, to noticing themselves or others feeling down after minor friendship issues.

As well as keeping the mind healthy, pupils are encouraged and supported to keep their bodies healthy. Physical exercise and other co-curricular activities have long been a mainstay for our pupils. Our Director of CoCurriculum plays a key role in ensuring that our extensive programme offers something to benefit every pupil, with new trips and clubs regularly added. Pupils are encouraged to take part in at least two co-curricular activities and the spirit of ‘trying something new’ is very much ingrained in Dame Allan’s culture.

Sport: sport continues to thrive at Dame Allan’s Schools. In just a small example of sporting successes: our Senior netball team triumphed over RGS and NHSG to win the Senior TWSSA Netball Tournament, in football, our U11 boys A team were crowned overall winners of the HMC Cup, and we took a record number of rugby squads to Rosslyn Park. Three boys and two girls squads competed, plus an U11 squad from our Junior School. Our rowing programme, a relatively new addition to the school, continues to expand, with new sessions and competitions being organised regularly, as well as weekly on-water training, supported by Tyne United Rowing Club.

Outdoor Education: the Schools remain the biggest single centre for the Duke of Edinburgh Award in the whole of Northumberland and Newcastle, with pupils regularly progressing through to the Gold level of the award, strengthening their own skills and confidence, whilst helping others via the community service element of the award. Our Combined Cadet Force (CCF) continues to attract a great number of pupils, who take on regular parades, contingent camps and other challenges to build resilience - whilst forging friendships across year groups. The CFF also enjoyed a successful annual inspection from Major Johnstone, which they passed with flying colours. This year, we also introduced The Young Naturalist Award. Based in Gosforth Nature Reserve and in collaboration with the Natural History Society of Northumbria, this award has been designed to enable Year 8 pupils to explore their interest in nature.

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

Drama and Public Speaking: Public speaking and the Schools' drama programme are both nurtured through activities such as the annual Shakespeare Festival, the public speaking competition and the Schools' LAMDA provision. A wealth of school productions, from the Senior School production of A Servant of Two Masters, through to the Junior School's Nativity, all form a part of the range of opportunities for every pupil to take part. Co-curricular drama clubs also offer pupils the chance to stretch their creative muscles and perform, with Year 9 and Year 10 pupils putting on a special production of A Midsummer Night’s Dream in the quad.

Dance: Dame Allan’s Schools have an exceptional reputation for their dance provision. Dance has long played a central role in the performing arts at Dame Allan's, as is evident from the success of alumni in the world of dance with leading roles at the Rambert company and the London Contemporary Dance School. Pupils begin to learn dance in the Junior School, taking part in performances at the Senior School along with other local primary schools. In the Senior School, pupils enjoy dance as part of their games curriculum, with the option to study it further at GCSE and A Level. Regular guest workshops, such as sessions from an Olympic breakdance coach, keep dance fresh and interesting - particularly for male dancers. House Musical Theatre days also ensure that every pupil gets an opportunity to dance in front of an audience. This year, a Year 13 student also successfully secured a place at the prestigious Northern School of Contemporary Dance.

Music : Music at Dame Allan’s is embedded from the youngest years, with all ages being encouraged to try an instrument. This year saw the launch of our ‘Endangered Instrument’ programme, which supported Junior and Senior pupils to take up an instrument that is in danger of going ‘extinct’ in orchestras. This included the oboe and the French Horn. Both Junior and Senior pupils take part in a myriad of performances, such as Jazz Nights, Evensong in the local church, Drivetime Concerts, Carol Services, a pupil-led music festival and more. At the Senior School, regular lunchtime ‘Live for Five’ events encourage pupils to choose their own song to perform in front of their peers, helping to build confidence and demonstrate the talented musicians within the Schools. Musical participation is encouraged at all levels, with both novice and experienced pupils supported to get involved with music.

Community : The period has seen significant donations to a number of charities, with almost £10,500 raised during the period covered by these accounts. Fundraising activities across the Schools included non-uniform days, bake offs, Red Nose Day, tombolas, raffles and more. Pupils took ownership of many of these activities, choosing charitable causes and leading on the creation and execution of the event - such as the Year 9 music festival, which supported Cancer Research UK.

The Governors also wish to thank Dame Allan’s Parents’ Association and Junior School Parents’ Association for their valuable fundraising work.

Staff capacity

Dame Allan’s employees are well-qualified and motivated teachers, support staff and managers, all of whom work together effectively in order to provide excellent education and pastoral care, high-class facilities and support services, and effective leadership of the Schools. Effective recruitment processes and attractive terms of employment enable the Schools to attract well-qualified applicants. Well-resourced and targeted training, mentoring, staff appraisal and incentives encourage staff to engage in reflective practice and continuous processes of professional and career development. Career development opportunities and incentives promote retention of key staff in competitive recruiting markets. Dame Allan’s presents a positive, inclusive and supportive work environment.

The attraction of working in teaching or support roles at Dame Allan’s remains strong with high numbers of qualified candidates applying for advertised roles in most areas, aided by further promotion from the communications team. A significant proportion of teaching staff are also able to develop their careers while working at Dame Allan’s with nearly half of those who move to new posts, externally and internally, achieving promotion in their move.

The Governors wish to thank all staff at Dame Allan's Schools for their dedicated work and enthusiastic contribution towards ongoing developments. Demonstrating professionalism and commitment, staff have tirelessly sought to meet the needs of pupils.

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

Marketing, admissions and communications

Dame Allan’s continues to market itself strategically to ensure it is recognised by prospective families as a leading independent school in the North East, and a great choice for their child. Recent campaigns have focused on the breadth of the co-curricular offerings, including showing real pupils taking part in activities they enjoy, including: drumming, basketball, food tech, cricket, and computing. A mix of digital, print, and out-of-home placement ensured that the Dame Allan’s brand was at the forefront for prospective families.

This is supported by a robust programme of public relations activity, including the creation of editorial features, ‘good news’ stories shared with local press, the creation of compelling video content, and social media activity. Video production is an increasingly large part of planned communications activity. Recently, coverage has been achieved across local print press, including the Newcastle Chronicle, LUXE Magazine, Northern Insight Magazine, ITV, and BBC Radio Newcastle, with results day-specific stories often being shared in the national press.

Surveys and feedback from a wide range of stakeholders, including leavers and parents who chose other schools help to inform marketing and communications strategy. Brand management, marketing and communication plans are in place to continuously raise standards.

The success of this department, within the context of the wider successes of the Schools, means that demand for places has been strong in recent years and, over the longer term since the impact of the 2008 global financial crisis, pupil numbers have risen across the Schools by almost 45%. Demand remains strong with waiting lists at some entry points. Retention at the key transition points in Years 6 and 11 remains high, indicating that pupils and their families are satisfied with the quality of the education provided.

Development - fundraising, alumni and partnerships

Dame Allan’s engages with alumni, parents, partners and potential donors such as individuals, trusts and foundations, forging beneficial relationships to secure the future development of the Schools. 2025 saw the Schools’ second ‘Giving Day’ event, which was raising funds for both the bursary fund and for the new all weather pitch. This event, which spanned the Junior and Senior Schools, raised £106,000. A series of Allanian profiles and good news stories across Dame Allan’s communications channels have helped strengthen the link between alumni and the Schools, as well as a strong programme of Allanian events including coffee mornings, the London Drinks, and reunions. External parties understand the case for giving towards a range of Dame Allan’s objectives, and the support and activities of our associated parent and alumni bodies align with school planning and objectives.

A prominent example of alumni success is The Lectures, a high-profile speaker series that is funded and supported by an Allanian, designed to inspire pupils from Year 9 to Year 13.

This series sees renowned figures in business, inspirational speakers and other notable guests take to the stage at the Senior School to deliver an inspiring talk on their lives, ethos and success. Recent speakers have included: Matthew Syed, author, journalist and thought leader in performance psychology, internationally renowned speaker Marcus Child, and world-renowned space scientist and award-winning science communicator Dame Maggie Aderin-Pocock.

Bursaries and scholarships

Dame Allan’s works to ensure bright children are able to access a top-class education, regardless of financial background, via the Bursary Award scheme. This scheme is open to applicants from Year 7 upwards whose parental circumstances are such that they would not be able to attend the Schools without such an award. These awards are means tested and applicants must satisfy the Schools' entrance criteria. Bursaries are tenable throughout a child's school career, subject to satisfactory work and conduct under annual review.

Applicants for the Sixth Form are eligible for a Don Walker bursary, which is offered initially to our current students whose parents fulfil the same criteria as our regular bursary holders and then to the wider public.

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Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

Bursaries are offered according to parental means, the assessment of which considers a number of factors, including family income, investments, property, savings and family circumstances. Awards of up to 100% of fees are available. The Schools' bursary awards also support current pupils whose place in the Schools might be in jeopardy as a consequence of changes in family circumstances, such as parental illness or redundancy.

The Schools offer academic scholarships to senior school applicants—to a maximum of 50% of fee remission—in order to recognise high academic potential, plus music scholarships to support talented musicians with the cost of music lessons. Academic scholarship awards are based on results achieved in the Schools' entrance examinations.

The Schools also offer music and choral scholarships which provide support for participation and instrumental and voice tuition fees. A limited number of sports scholarships have also been offered at Years 7 to 9 pupils in recent years. Non-academic scholarships are aimed at attracting and supporting external applications of outstanding candidates whose contribution to the school would bring enhanced performance and competition opportunities for existing pupils.

Fee remissions are also available to the third and subsequent children of any family educated in the Schools, in order to underline the value we place on family links. A scheme also provides fee reductions to children of all staff employed by the Schools.

The Governors view bursary and scholarship awards as important in widening access and enhancing the education the Schools provide. The Governors regularly review the Schools' bursary awards policy to ensure that children can accept offers of places at our Schools through the availability of means-tested fee assistance.

Research by the Independent Schools' Council also indicates that Dame Allan's bursaries are providing education for pupils whose circumstances are such as to make paying for education an impossibility without such support. The Schools are delighted that, with the support of generous donors to our bursary campaign, they can remain true to the traditions of "good education", which our Founder established some 320 years ago.

For the year ended 31 August 2025, the value of means-tested bursaries totalled £1,799,336 (31 August 2024 - £1,884,069) and represented 9.2% (2024 - 10.3%) of our gross fees. They provided assistance to 133 or 10.3% (2024 - 147 or 11.6%), of our pupils, of whom 64 (2024 - 69) pupils benefitted from 'high-level bursaries' (defined as being a fee remission of over 90%). Given the independent sector average of 1% of all pupils being in receipt of such bursaries, the Schools are making a significant contribution to social mobility through this scheme.

During the 2024/25 academic year, 159 pupils (2024 -160 pupils) were in receipt of a scholarship, awarded for their educational merit and potential. Of this number 53 (2024 - 56) also qualified for means-tested bursary support and are included in the figures relating to bursary awards. The progress of pupils receiving scholarships is reviewed at least annually to ensure their progress is in line with their abilities. One scholarship was withdrawn in the year as a result of review.

Facilities and infrastructure

The Schools continue to develop facilities and infrastructure in support of our educational offer and effective management of the Schools, most recently with the extension and refurbishment of the sixth form building, The Queen’s Building. This enabled the addition of new classroom spaces, a silent study area, meeting room, study pods, group space, and a very popular café area.

Dame Allan’s offers functional and inspiring spaces for teaching, study, assembly, performance and exhibition. They also offer high quality sports facilities that enable elite programme development as well as wide pupil participation. The Schools’ physical presentation, facilities and development plans support pupil admissions at all times and we aim increasingly to use our facilities as a source of revenue, for example, via renting to half-term camps, to support our partnerships and to help keep our fees sustainable.

The most significant development of the last ten years was started in September 2021 and completed in time for

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

the start of term in September 2022 - the Jubilee Building. This project, to provide state-of-the-art facilities with a new block of classrooms, laboratories, an art suite and gallery, offices and other facilities, has transformed the north end of our Fenham site. Plans for further development on the Fenham site includes replacement of the astro pitch with a larger upgraded facility, including new netball courts and improved parking provision.

Structure, governance and management

Constitution

Dame Allan’s Schools, the charitable company, was incorporated on 26 May 2000. It is governed by Articles of Association last amended on 20 October 2022.

Method of appointment or election of Governors

The Governing Body consists of a minimum of ten Governors, being one ex officio Governor - The Dean of Newcastle - and at least nine co-opted Governors each serving for a term of up to five years. They can be reelected and a Governor may be reappointed for a maximum of two consecutive terms of office. The Governors are Trustees of the Charitable Body. On joining the Board all Governors receive an induction and undergo appropriate training to ensure their understanding of their roles and obligations under charity law, guidance and codes, in order to act in the best interests of the charity.

The co-opted Governors are co-opted by the existing Governors.

Pay policy for senior staff

The Remuneration Committee reviews the pay of the Senior Management Team on at least an annual basis taking into account current pay scales and benchmarked information for schools of a similar size and location.

Organisational structure and decision making

The Governors and management identify and prioritise strategic objectives for the development of Dame Allan’s Schools. Governors also monitor, verify, support and challenge management progress towards strategic objectives and the senior management team provides effective development and operational leadership towards meeting strategic objectives.

The Governing Body is supported by the following committees: Finance Committee - responsible for the sound management and control of the Schools’ finances Nominations and Governance Committee - responsible for identifying and nominating for the approval of the Governing Body candidates to fill Governor vacancies as and when they arise and to ensure governance processes and standards are in line with best practice.

Education Committee - responsible for reviewing all matters of the Schools’ education provision including academic, pastoral and co-curricular.

Remuneration Committee - to meet at least annually to review the pay of senior staff.

A Governor also sits as a representative on the Schools’ Health and Safety Committee.

Governors meet three times a year, at least once a term, as a full Governing Body with the individual committees also meeting three times per year, save for the Remuneration Committee which meets at least annually.

A key development in the governance of the Schools has been the creation of a strategic plan, with associated performance indicators, and regular, focused, reporting structures. A full review of the Schools’ governance was conducted in 2022 by the Association of the Governing Bodies of Independent Schools (AGBIS) in order to ensure that our structures and practice are at the standard of the best in the sector. Improvements have taken place in governor recruitment, induction, appraisal and training.

Recently, among other work to enhance the quality of the Schools’ governance, the board has adopted and

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

adapted the AGBIS governance manual in order to formalise governance arrangements. Governor training has been frequent, regular and focused on the key roles and responsibilities of governors and trustees, including in the safeguarding of children.

Governors have increased their awareness of issues and involvement in school life through a variety of means, such as lesson visits, department links and specific link governors for safeguarding and pupil wellbeing and health and safety oversight. The Governing Body regularly reviews its own mix of experience, skills and diversity.

The Schools are moving towards environmental sustainability. A programme of installation of LED lighting across both sites is ongoing and the new Jubilee building has been designed with PIR sensors to further reduce the Schools’ energy consumption. A ground-source heat pump is in operation at the junior school and both sites make use of photovoltaic panels, with additional panels recently added to the Jubilee Building and further panels planned for the senior school in the near future.

There is more that can be done and improving our environmental sustainability has been set as a strategic objective of the Schools. The recent appointment of an Estates & Facilities Manager will help to increase focus on this key issue and to reduce our impact on the environment as well as reduce costs.

Engagement with staff and equal opportunities

The Schools are an equal opportunities employer and all qualified applicants for job roles receive equal consideration. When recruiting staff the Schools look to appoint from a wide variety of backgrounds and are committed to creating an inclusive and diverse school culture. The Schools work with all staff to ensure appropriate training is provided and adjustments are made should an individual’s circumstances change during their employment, and that ongoing training, development and progression is available to all.

Consultation with employees, or their representatives has continued at all levels with the aim of taking the views of employees into account when decisions are made that are likely to affect their interests. Employees are made aware of the financial and economic performance of the Schools.

Related party relationships

Dame Allan’s Schools has no trading subsidiary company. The charitable company is the trustee of, or is required to manage, the Dame Allan’s Development Trust (‘DADT’) which has been linked by the Charity Commission for administration and reporting purposes.

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

FINANCIAL REVIEW

The Schools' day-to-day charitable activities are self-funded. The Schools' fee income for the 12-month period was £16,770,784 (2024: £16,453,550). Overall a net surplus, before gains and losses on investments, of £65,651 (2024: £273,933) is reported for the period. The net cash inflow from the Schools' operating activities for the financial period was £692,384 compared to a net inflow for the previous year of £3,062,084.

Going concern

At the balance sheet date, the charitable company had a net current asset position of £749,346 (2024: net current liabilities of £275,648). The net current liability position arose in the prior year due to fees in advance for 2024/25 being received before the year end and reflected as deferred income.

The Governors have prepared forecasts for the future activities of the charity covering a period of at least 12 months from the date of the approval of these financial statements, which show the Charity continuing to operate within available facilities. In addition, longer term scenarios have also been modelled which include evaluating the longer term impact of the introduction of VAT on fees, the loss of Business Rates Relief and increases to National Minimum Wage, National Insurance Contributions and contributions to the Teachers Pension Scheme.

In March 2026, the Governors secured a 25 year mortgage facility from Lloyds bank to consolidate existing loans and provide some further funds for the development of a full size astro pitch on the senior school site. The Schools continue to maintain close contact with the bank which has indicated that required levels of support will be available to meet the Charity's ongoing financial requirements.

The Governors therefore believe that the Schools have adequate resources in place to continue in operational existence for the foreseeable future and consequently the going concern basis has been adopted in preparing the financial statements.

Reserves

Note 21 to the financial statements shows the assets and liabilities attributable to the various funds by type, describes the various funds and summarises the year's movements on each fund. Unrestricted funds amounted in total to £13,312,924, however, this is not freely available because funds in excess of this figure are invested in fixed assets. Free reserves amounted to a deficit of £6,358,145 as at 31 August 2025 (2024: deficit of £7,930,354). Free reserves, after taking into account amounts invested in fixed assets and the loans taken out to develop those assets amounted to £2,043,020 (2024: 772,614). This is calculated on the following basis:

Unrestricted funds Unrestricted tangible fixed assets Funded by loans (per note 18) Free reserves	2025 £ 13,312,924 (19,671,069) 8,401,165 2,043,020	2024 £ 13,134,573 (21,064,927) 8,702,968 772,614

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

The Governors' objective is to maintain reserves that will permit them over time to maintain, develop and enhance the Schools' facilities in order to meet the Schools' long term charitable objectives, whilst at the same time maintaining tuition fees at a reasonable level. To that end, the Governors aim to ensure that there are sufficient reserves to afford reasonable protection to the charitable company in the context of current and anticipated commitments and exposure to identified risks.

The Schools' land and buildings are stated in the financial statements at historic cost. However the Governors consider the current valuation of these assets to be in excess of this. The Governors review the reserves position regularly and consider the current position to be satisfactory.

Investment powers policy and performance

The Governors' investment powers are governed by the Articles of Association. The Governors have delegated the management of the investment portfolios to Brewin Dolphin Limited and Rathbones Investment Management, but appraise their performance at regular intervals; the Governors' policy is to maintain income to fund bursaries, while preserving the market value of the investments.

Risk management

The Governors are responsible for the management of risk faced by the Schools. Risks are identified, assessed and controls established throughout the year.

A formal review of the risk management process is undertaken annually. Areas covered are:

• Governance and management;

• Operational risks;

• Financial risks;

• Environmental/external factors;

• Compliance (laws and regulations).

The key controls used include:

• formal agendas for all Board and Committee meetings;

• terms of reference for all Governors’ Committees;

• comprehensive strategic planning, budgeting and management accounting;

• formal written policies;

• clear authorisation and approval levels; and

• verification procedures as required by law for the protection of children.

As a result of the risk management process, Governors are satisfied that the major risks identified have been adequately mitigated where necessary. The principal risks facing the Schools are set out below. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

PRINCIPAL RISKS AND UNCERTAINTIES

The Governors review the principal risks facing the Schools regularly and maintain systems of oversight designed to manage and mitigate these risks where possible.

Government policy changes with respect to independent schools’ taxation

Recent government policy changes have materially altered the financial environment for independent schools. From January 2025, VAT has been applied to independent school fees and associated services, and from April 2025 charitable business rates relief has been removed for independent schools.

These measures represent a significant increase in operating costs for the Schools and may also affect affordability for families considering independent education. The full impact of these policies across the sector has not yet been fully realised and continues to be monitored carefully by the Governors.

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

The Governors therefore review the financial implications of these changes regularly and ensure that financial planning, cost control and investment decisions take account of the evolving policy environment. Political and regulatory developments affecting the sector are monitored closely and financial plans are adjusted as necessary in response.

Pupil numbers, demand and affordability

As with most independent schools, the Schools’ financial position is closely linked to the ability to maintain strong pupil numbers. Demand for places is therefore monitored carefully, including trends in applications, admissions and pupil retention.

The affordability of independent education remains an important consideration for many families, particularly following recent taxation changes affecting the sector. The Governors therefore review fee levels carefully and continue to provide bursary support within the limits of available resources in order to widen access to the Schools.

The Schools seek to mitigate risks to pupil recruitment and retention through maintaining high standards of academic provision, pastoral care and co-curricular opportunity. Investment in facilities, staff development and educational programmes forms part of this strategy, alongside careful monitoring of the Schools’ reputation and competitive position within the regional market.

Applications, enrolment and pupil retention trends are monitored regularly by the Governors as part of the Schools’ ongoing financial and strategic planning.

Teachers’ Pension Scheme and staff cost pressures

The Teachers’ Pension Scheme (TPS) represents a significant cost for independent schools participating in the scheme. Employer contribution rates have increased substantially in recent years, rising from 16.48% of salary prior to 2019 to 28.68% from April 2024 following successive scheme valuations.

As an independent school, Dame Allan’s does not receive government funding to offset these increases. Changes in TPS contribution rates, therefore, have a direct impact on the Schools’ operating costs.

To manage this risk and provide greater long-term cost stability, the Schools have introduced a defined contribution pension scheme for teaching staff. Existing staff may choose to join this scheme and new teaching staff are enrolled in it upon joining the Schools. These arrangements reduce the Schools’ exposure to further increases in TPS employer contribution rates while ensuring that pension provision remains a key element of the overall remuneration package for staff.

Estate management and capital investment

The Schools operate from a number of buildings across the Fenham and Hunter’s Moor sites, with some facilities dating from the 1930s alongside more recent developments such as the Junior School building and the Jubilee and Queen’s Buildings on the Senior School site.

Maintaining and developing the Schools’ estate is an important part of ensuring that facilities remain appropriate for modern teaching and learning. The quality of facilities available is also an important factor for families when choosing a school.

The Schools therefore maintain an ongoing programme of estate maintenance, refurbishment and capital development. Careful financial planning is required to ensure that investment in facilities is balanced with the need to maintain the Schools’ financial stability. The Governors review major capital projects carefully to ensure that they support the long-term educational needs of the Schools and represent prudent use of resources.

Capital investment decisions are therefore considered carefully in the context of projected pupil demand, the Schools’ competitive position within the regional market, and the long-term financial sustainability of the Schools.

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

PLANS FOR THE FUTURE

The Governors remain focused on ensuring that Dame Allan’s continues to deliver an outstanding educational experience for all pupils, supported by careful long-term investment in both facilities and educational provision. Alongside this, maintaining strong pupil numbers across the Schools continues to be an important priority. The Schools are highly regarded across the North East and, notwithstanding the impact of VAT on school fees and wider cost pressures affecting the sector, the Governors remain committed to prudent stewardship of the Schools’ resources. The Governors continue to monitor carefully the impact of the introduction of VAT on school fees, including potential effects on affordability and demand for places. In doing so, investment and educational initiatives remain aligned with the long-term interests of pupils and the wider Dame Allan’s community.

In May 2025, the Governors confirmed a strategic decision to move from the existing Diamond Model structure — with mixed classes from Nursery to Year 6 and in the Sixth Form, but single-sex teaching from Years 7 to 11 — to a fully co-educational structure throughout the Schools. This transition will begin in September 2026, when Years 7 to 10 move to mixed classes, and will complete in September 2027 with Year 11. The Diamond Model has served the Schools well since the merger of the Boys’ and Girls’ Schools in 1988, evolving over time to allow increasing levels of collaboration between pupils both socially and through co-curricular activities. Moving to full co-education represents the natural next stage in that development. It reflects the educational advantages of larger, integrated year groups — enabling greater curriculum flexibility and subject choice — as well as the broader shift in parental expectations and educational practice, where co-education is now the predominant model across both the independent and maintained sectors.

Alongside these strategic developments, the Governors continue to prioritise investment in the Schools’ facilities. In June 2025, planning permission was granted for a redevelopment of sports pitches and parking arrangements at the Fenham site. Detailed plans are now well advanced for this project, which will deliver high-quality sports facilities, including a full-sized all-weather pitch. The development will strengthen the range and quality of on-site sporting provision and broaden opportunities for pupils across all age groups, supporting participation, wellbeing and the Schools’ commitment to a balanced and active education.

The Schools also continue to develop their academic and co-curricular provision. Current initiatives include the expansion of academic enrichment through qualifications such as the Higher Project Qualification (HPQ), designed to promote intellectual independence, curiosity and deeper research skills. The Schools have also begun a whole-school ArtsMark journey — an Arts Council-accredited programme — strengthening and formally recognising Dame Allan’s long-standing commitment to the arts, culture and creativity. In the Senior School, the introduction of the Aspiration Award encourages Year 7 pupils to explore interests beyond the curriculum, take on new challenges and contribute to the life of the school community. Alongside these initiatives, continued investment in teaching expertise and learning resources ensures pupils are well prepared for a world shaped by rapid technological change, including the growing influence of artificial intelligence and digital technologies across many fields of study and work.

The Governors recognise that the independent school sector is operating in a period of significant change, including the introduction of VAT on school fees and wider economic pressures affecting families and schools alike. In this context, the Governors remain focused on maintaining the long-term financial sustainability of the Schools while continuing to invest in the quality of the educational experience provided. Through careful financial stewardship, continued investment in facilities and programmes, and a clear strategic direction, the Governors believe that Dame Allan’s is well placed to continue to thrive as one of the leading independent schools in the North East.

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Governors' report (continued) Year ended 31 August 2025

Disclosure of information to auditor

Each of the persons who are Governors at the time when this Governors' Report is approved has confirmed that:

• so far as that Governor is aware, there is no relevant audit information of which the charitable company and the auditors are unaware, and

• each Governor has taken all the steps that ought to have been taken as a Governor in order to be aware of any information needed by the charitable company and the group's auditors in connection with preparing their report and to establish that the charitable company and the auditors are aware of that information.

The Governors' report, which incorporates the strategic report, was approved by the Governors on 22 May 2026.

Approved by order of the members of the board of Governors on and signed on their behalf by:

Mr D Arthur (Chairman) (Chair of Governors)

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Statement of Governors' responsibilities Year ended 31 August 2025

The Governors (who are also the directors of Dame Allan's Schools for the purposes of company law) are responsible for preparing the Governors' report including 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. Under company law, the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Governors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Independent auditor's report to the members of Dame Allan's Schools

Opinion

We have audited the financial statements of Dame Allan's Schools (the 'charitable company') for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, 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 charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Auditor's responsibilities for the audit of the financial statements' section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 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.

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Independent auditor's report to the members of Dame Allan's Schools (continued)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Governors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion 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 Governors' report including the strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Governors' report and the strategic report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Governors' report including the strategic report.

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

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by me; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Governors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of Governors

As explained more fully in the Governors' responsibilities statement, 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

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Independent auditor's report to the members of Dame Allan's Schools (continued)

Auditor's responsibilities for the audit of the financial statements

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

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

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

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. However, it is the primary responsibility of the Governors, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

We obtain and update our understanding of the charitable company, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the company is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

Based on our understanding of the charitable company, we identified that the principal risks of non-compliance with laws and regulations related to laws and regulations that directly affect the financial statements including financial reporting legislation (including related company and charity legislation), pension legislation and UK tax legislation. In addition, the charitable company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines and litigation. We considered the extent to which noncompliance with laws and regulations might have a material effect on the financial statements and we have assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We also evaluated the 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 related to posting inappropriate journal entries to manipulate financial results, management bias in accounting estimates, as well as improper income recognition which includes fraudulent posting of journal entries to income.

Audit procedures performed by the engagement team included:

• Inquiry of those charged with governance regarding actual and potential litigation or claims as well as whether they have knowledge of any actual, suspected or alleged fraud;

• Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

• Reviewing meeting minutes to identify reported frauds and any potential non-compliance with laws and regulations;

• Identifying journal entries based on risk criteria and testing the identified entries to supporting documentation, in particular journal entries with unusual account combinations; and

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Independent auditor's report to the members of Dame Allan's Schools (continued)

• Challenging assumptions and judgments made by management in their significant accounting estimates and evaluating whether there was any evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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 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.

Use of my 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Coleman BSc(Hons) BFP FCA (Senior Statutory Auditor) for and on behalf of UNW LLP, Statutory Auditor Chartered Accountants Newcastle upon Tyne

Date: 22 May 2026

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) Year ended 31 August 2025

Note Income and endowments from: Donations and legacies 4 School fees 5 Commissions and lettings 6 Investment income Other income 7 Total income and endowments Expenditure on: Raising funds Charitable activities 8 Total expenditure Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2025 £ 50,748 16,770,784 22,147 159,521 1,933,239 18,936,439 140,994 18,718,145 18,859,139 101,051 178,351 13,134,573 178,351 13,312,924	Restricted funds 2025 £ 179,104 - 1,462 5,162 - 185,728 - 197,377 197,377 3,784 (7,865) 221,600 (7,865) 213,735	Endowment funds 2025 £ - - - - - - - - - - - 133,474 - 133,474	Total funds 2025 £ 229,852 16,770,784 23,609 164,683 1,933,239 19,122,167 140,994 18,915,522 19,056,516 104,835 170,486 13,489,647 170,486 13,660,133	Total funds 2024 £ 213,913 16,453,550 23,585 143,747 2,057,069
					18,891,864
					65,740 18,552,191
					18,617,931
					230,150
					504,083
					12,985,564 504,083
					13,489,647

The notes on pages 27 to 50 form part of these financial statements.

Page 24

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Balance sheet At 31 August 2025

Note Fixed assets Tangible assets 12 Investments 13 Current assets Debtors 14 Cash at bank and in hand 23 Creditors: amounts falling due within one year 15 Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after more than one year 16 Net assets Charitable company funds Endowment funds 19 Restricted funds 19 Unrestricted funds 19 Total funds	6,991,863 2,756,770 9,748,633 (8,999,287)	2025 £ 19,675,432 2,619,377 22,294,809 749,346 23,044,155 (9,384,022) 13,660,133 133,474 213,735 13,312,924 13,660,133	7,056,561 3,508,626 10,565,187 (10,840,835)	2024 £ 21,076,412 2,474,601 23,551,013 (275,648) 23,275,365 (9,785,718) 13,489,647 133,474 221,600 13,134,573 13,489,647

The financial statements were approved and authorised for issue by the Governors and signed on their behalf by:

Mr D Arthur (Chairman)

(Chair of Governors)

Date: 22 May 2026

Company registered number: 04002372

The notes on pages 27 to 50 form part of these financial statements.

Page 25

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Statement of cash flows Year ended 31 August 2025

Note Cash flows from operating activities Net cash provided by operating activities 22 Cash flows from investing activities Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Purchase of investments (net) Net cash used in investing activities Cash flows from financing activities Repayments of borrowing Interest paid Net cash used in financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 23	2025 £ 692,384 164,683 69,381 (728,040) (37,312) (531,288) (301,803) (611,149) (912,952) (751,856) 3,508,626 2,756,770	2024 £ 3,062,084 143,747 4,100 (2,309,364) (31,257) (2,192,774) (268,920) (673,759) (942,679) (73,369) 3,581,995 3,508,626

The notes on pages 27 to 50 form part of these financial statements

Page 26

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

1. General information

Dame Allan's Schools are engaged in the provision of day schools for girls and boys in or near the city of Newcastle upon Tyne. Dame Allan's Schools is a private charitable company incorporated in the United Kingdom and registered in England and Wales. The address of the registered office is Fowberry Crescent, Fenham, Newcastle upon Tyne, NE4 9YJ.

2. Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

2.1 Basis of preparation of financial statements

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

Dame Allan's Schools meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at market value.

The accounts are presented in pounds sterling and are rounded to the nearest pound.

2.2 Company status

The charitable company is a company limited by guarantee. The members of the charitable company are the Governors stated on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company.

2.3 Going concern

In determining the appropriate basis of preparation of the financial statements, the Governors are required to consider whether the charitable company can continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of signing of these financial statements.

The Governors have performed this assessment, have a reasonable expectation that the charitable company has adequate resource to continue to meet its liabilities as they fall due for the foreseeable future and have prepared the financial statements on a going concern basis which is considered appropriate for the following reasons.

The charitable company recorded a net surplus of income over expenditure in 2025 and has net assets at the year end of £13,660,133 (2024: £13,489,647).

The Governors have prepared profit and cash flow forecasts for a period in excess of 12 months from the date of their approval of these financial statements.

The cash flow forecasts that the Governors have prepared are based on their current best estimate of demand for school places and the charitable company’s expected cost base and show that the charitable company can maintain sufficient financial headroom and operate within the currently available bank facilities and existing covenants for the foreseeable future.

Page 27

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

2. Accounting policies (continued)

2.4 Income

All income is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Fees and similar income

Fees receivable and other income are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the charitable company from its unrestricted funds but include contributions received from restricted funds for scholarships, bursaries and other grants.

Fees that are received in advance of the financial year to which they relate are treated as a creditor and released to income in the financial year to which they subsequently relate.

Voluntary income

Voluntary income is received by way of donations and is included in full in the statement of financial activities when receivable. Grants and donations received for the general purposes of the charitable company are included as unrestricted funds. Grants and donations for activities restricted by the wishes of the donor are taken to restricted funds if these wishes are legally binding on the Governors.

Investment income

Investment income is accounted for in the period in which the charitable company is entitled to receipt. Incoming resources from endowment funds are restricted.

Page 28

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

2. Accounting policies (continued)

2.5 Expenditure

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all cost for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company, including those incurred in connection with the administration of the charitable company and compliance with constitutional and statutory requirements. They are apportioned against the activities of the charitable company in line with the estimated usage of those costs.

Costs of raising funds are costs incurred in attracting voluntary income and those incurred in trading activities that raise funds.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

Page 29

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation

Freehold property is included in the financial statements at its original cost including the cost of new equipment and fittings installed at the time of construction.

Tangible fixed assets are capitalised where they have an expected useful life of more than one year and where the original cost of the item exceeds the capitalisation threshold of £2,000. Where a significant number of components or similar items purchased together, costing individually less than the capitalisation threshold and the value of these purchases exceed the capitalisation threshold, then the items are treated as a capital asset.

Expenditure in respect of major capital refurbishment and improvement of buildings is capitalised and reported as property or plant and machinery, depending on its nature. This is appropriate as the expenditure provides a long-term continuing benefit for the charitable company.

The carrying values of tangible fixed assets are reviewed for annually for impairment or sooner when events or changes in circumstances indicate the carrying value may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.

Depreciation is provided on all tangible fixed assets, other than assets under construction, at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Depreciation is provided on the following bases:

Freehold land	- No depreciation
Freehold buildings	- 10 - 50 years straight-line
Plant and machinery	- 3 - 20 years straight-line

2.7 Investments

Investments are included at closing mid-market value at the balance sheet date. Any gain or loss on revaluation is taken to the statement of financial activities.

2.8 Debtors

Trade and other debtors are recognised at the settlement amounts after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Operating leases

Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term.

Page 30

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

2. Accounting policies (continued)

2.11 Liabilities

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.12 Financial instruments

The charitable company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, cash and bank balances and loan balances.

All such instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, in which case the transaction is measured at the present value of the future receipts discounted at a market rate of interest. All financial instruments are subsequently carried at amortised cost using the effective interest method.

2.13 Pensions

The charitable company operates two main schemes:

The charitable company participates in the Teachers’ Pension Scheme which is a defined benefit scheme and is for teaching staff only. The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the charitable company in such a way that the pension cost is a substantially level percentage of current or future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. The TPS is a multi-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

The charitable company also operates defined contribution pension schemes for both teaching and non-teaching staff. The assets of these schemes are held separately from those of the charitable company in independently administered funds. The charge to the statement of financial activities is the amount payable in the period.

Page 31

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

2. Accounting policies (continued)

2.14 Fund accounting

Unrestricted funds are available for use at the discretion of the Governors in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Donations received for the general purposes of the charitable company are included as unrestricted funds.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Donations for activities restricted by the wishes of the donor are taken to “restricted funds” if these wishes are legally binding on the Governors.

Donations required to be retained as capital in accordance with the donor’s wishes are accounted for as “endowments” - permanent or not according to the nature of the restriction.

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgments in applying the group's accounting policies

In preparing these financial statements, the Governors do not consider there to have been any other significant judgments that were required in the process of applying the charitable company's accounting policies.

Key sources of estimation and uncertainty

Estimates included within these financial statements include depreciation rates, accruals for employment costs (holiday pay), and asset impairments (for example provisions against debtors).

A VAT debtor has been recognised in relation to VAT to be recovered through the Capital Goods Scheme. Although not expected to change signicantly, there is an estimate in relation to the partial exemption recovery rate and this will be reassessed annually over the 10 year Capital Goods Scheme adjustment period.

None of the estimates made in the preparation of these financial statements are considered to carry significant estimation uncertainty, nor to bear a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.

4. Income from donations and legacies

	Unrestricted	Restricted	Total
	funds	funds	funds
	2025	2025	2025
	£	£	£
Other donations	50,748	179,104	229,852

Page 32

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

4. Income from donations and legacies (continued)

	Unrestricted	Restricted	Total
	funds	funds	funds
	2024	2024	2024
		£	£
Other donations	80,421	133,492	213,913

5. Fees receivable

	Unrestricted	Total	Total
	funds	funds	funds
	2025	2025	2024
	£	£	£
School fees receivable	16,770,784	16,770,784	16,453,550

The notional value to the charitable company of bursary provision in the year amounted to £1,799,336 (2024: £1,884,069) and £nil (2024: £3,199) was provided in relation to hardship support.

6. Income from other trading activities

Unrestricted funds 2025 £ Commission and lettings income 22,147 Unrestricted funds 2024 £ Commission and lettings income 21,944	Restricted funds 2025 £ 1,462 Restricted funds 2024 £ 1,641	Total funds 2025 £ 23,609
		Total funds 2024 £ 23,585

Page 33

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

7. Other incoming resources

Miscellaneous other income School trip income Profit on disposal of fixed assets Income from school bus provision Catering income	Unrestricted funds 2025 £ 85,351 812,921 2,829 109,202 922,936 1,933,239	Total funds 2025 £ 85,351 812,921 2,829 109,202 922,936 1,933,239	Total funds 2024 £ 77,803 1,042,064 4,100 81,834 851,268
			2,057,069

8. Analysis of expenditure by activities

Provision of school services Welfare Premises Provision of school services Welfare Premises	Activities undertaken directly 2025 £ 11,053,100 782,657 1,428,776 13,264,533 As restated Activities undertaken directly 2024 £ 10,577,417 681,750 1,797,052 13,056,219	Support costs 2025 £ 3,579,146 775,916 1,295,927 5,650,989 As restated Support costs 2024 £ 3,795,262 687,724 1,012,986 5,495,972	Total funds 2025 £ 14,632,246 1,558,573 2,724,703
			18,915,522
			As restated Total funds 2024 £ 14,372,679 1,369,474 2,810,038
			18,552,191

Page 34

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

8. Analysis of expenditure by activities (continued)

The prior year figures have been reclassified to correctly split out support staff costs relating to welfare and premises, which were previously included within direct premises costs. There is no impact on overall expenditure or total staff costs previously reported.

Analysis of support costs

Staff costs Governance Advertising, PR & events Insurance Other support costs School bus provision Depreciation Interest costs Staff costs Governance Advertising, PR and events Insurance Other support costs School bus provision Depreciation Interest costs	Provision of school services 2025 £ 1,425,000 120,234 237,588 146,789 1,038,386 - - 611,149 3,579,146 As restated Provision of school services 2024 £ 1,320,649 144,641 262,385 118,124 1,275,704 - - 673,759 3,795,262	Welfare 2025 £ 504,112 - - - - 271,804 - - 775,916 As restated Welfare 2024 £ 444,582 - - - - 243,142 - - 687,724	Premises 2025 £ 478,616 - - - - - 817,311 - 1,295,927 As restated Premises 2024 £ 234,205 - - - - - 778,781 - 1,012,986	Total funds 2025 £ 2,407,728 120,234 237,588 146,789 1,038,386 271,804 817,311 611,149
				5,650,989
				As restated Total funds 2024 £ 1,999,436 144,641 262,385 118,124 1,275,704 243,142 778,781 673,759
				5,495,972

Page 35

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

8. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

The prior year figures have been reclassified to correctly split out support staff costs relating to welfare and premises, which were previously included within direct premises costs. There is no impact on overall expenditure or total staff costs previously reported.

9. Net income/(expenditure)

This is stated after charging:

Depreciation on owned assets Bank and loan interest payable	2025 £ 817,311 611,149 1,428,460	2024 £ 778,781 673,759
		1,452,540

10. Auditor's remuneration

	2025	2024
	£	£
Fees payable to the charitable company's auditor for the audit of the
charitable company's annual accounts	17,700	13,850
Fees payable to the charitable company's auditor in respect of:
• All assurance services not included above	800	650
• All other non-audit services not included above	850	-

Page 36

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

11. Staff costs

Wages and salaries Social security costs Contribution to defined contribution and defined benefit pension schemes	2025 £ 8,848,048 988,140 1,849,775 11,685,963	2024 £ 8,311,992 849,685 1,723,082
		10,884,759

The average number of persons employed by the charitable company during the year was as follows:

Teaching Academic support Property management Administration	2025 No. 135 33 25 43 236	2024 No. 131 34 8 45
		218

The average headcount expressed as full-time equivalents was:

Teaching Academic support Property management Administration	2025 No. 126 22 15 32 195	2024 No. 122 25 7 32
		186

Page 37

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

11. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

	2025	2024
	No.	No.
In the band £60,001 - £70,000	8	6
In the band £70,001 - £80,000	5	3
In the band £80,001 - £90,000	3	3
In the band £100,001 - £110,000	1	1
In the band £140,001 - £150,000	1	1

The number of employees in defined contribution schemes was 109 (2024: 75). The number of employees in defined benefit schemes was 86 (2024: 131)

Key management has been determined to be the Governors and 12 (2024: 12) members of the senior management team. Governors receive no remuneration or benefits for their roles as Governors. The total remuneration of the senior management team (excluding employer national insurance costs) for the year was £1,239,461 (2024: £1,215,399).

Page 38

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

12. Tangible fixed assets

Cost or valuation At 1 September 2024 Additions Transfers between categories Disposals VAT reclaimed under Capital Goods Scheme At 31 August 2025 Depreciation At 1 September 2024 Charge for the year On disposals At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024	Freehold land £ 2,866,850 - - - - 2,866,850 - - - - 2,866,850 2,866,850	Freehold property £ 21,199,314 117,032 48,644 (81,152) (1,197,041) 20,086,797 4,736,059 459,610 (19,833) 5,175,836 14,910,961 16,463,255	Plant and machinery Assets under construction £ £ 2,596,427 103,700 269,907 341,101 - (48,644) (19,902) - (48,116) - 2,798,316 396,157 953,820 - 357,701 - (14,669) - 1,296,852 - 1,501,464 396,157 1,642,607 103,700	Total £ 26,766,291 728,040 - (101,054) (1,245,157) 26,148,120 5,689,879 817,311 (34,502) 6,472,688 19,675,432 21,076,412

Capital Goods Scheme adjustment

Following VAT registration on 1 November 2024, the capitalised cost of certain assets has been reduced to reflect recoverable VAT under the Capital Goods Scheme (CGS).

The amount recoverable is based on the school’s estimated partial exemption recovery rate and will be reassessed annually over the 10-year CGS adjustment period in line with actual taxable use. A corresponding amount has been recognised in debtors - see Note 14.

Page 39

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

13. Fixed asset investments

Cost or valuation At 1 September 2024 Additions Disposals Revaluations At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024 14. Debtors Due after more than one year VAT recoverable Due within one year Fees owing from parents Other debtors Prepayments and accrued income VAT recoverable	Listed securities £ 2,406,493 431,832 (380,520) 83,636 2,541,441 2,541,441 2,406,493		Cash held within portfolio £ 68,108 8,762 - 1,066 77,936 77,936 68,108 2025 £ 914,791 914,791 5,288,395 144,173 378,350 266,154 6,991,863	Total £ 2,474,601 440,594 (380,520) 84,702 2,619,377 2,619,377 2,474,601 2024 £ - - 6,530,549 75,020 450,992 - 7,056,561

VAT recoverable includes amounts recoverable under the Capital Goods Scheme - see Note 12.

Page 40

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

15. Creditors: amounts falling due within one year

Bank loans Trade creditors VAT payable Other taxation and social security Other creditors Accruals and deferred income Payments received in advance	2025 £ 333,933 358,371 1,052,882 421,933 14,007 6,186,924 631,237 8,999,287	2024 £ 297,387 273,783 - 418,453 67,775 6,761,058 3,022,379
		10,840,835

16. Creditors: amounts falling due after more than one year

Bank loans Payments received in advance Accruals and deferred income	2025 £ 8,067,232 1,021,172 295,618 9,384,022	2024 £ 8,405,581 1,066,687 313,450
		9,785,718

17. Deferred income

Deferred income totals £6,419,049 (2024: £6,752,927) and relates to invoices raised in advance for autumn term fees of £6,025,670 (2024: £6,279,685), amounts received in advance from parents for trips and other events of £58,027 (2024: £113,887) and admission deposits received of £335,352 (2024: £359,355).

Page 41

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

18. Bank and other loans

Due within one year Between one and five years In five years or more	2025 £ 333,933 1,564,393 6,502,839 8,401,165	2024 £ 297,387 1,408,219 6,997,362
		8,702,968

A mortgage loan of £4,100,000 was agreed in July 2011 with Lloyds Bank plc, with the principal repayable in monthly instalments from October 2013 until September 2036. Interest is charged at a fixed rate of 5.84% per annum. The loan is secured on the freehold property of the charitable company by way of a first legal charge and an unlimited debenture.

A variable rate loan agreement was entered into with Lloyds Bank plc in 2013, up to the sum of £1,900,000. Interest is charged at Base Rate plus an interest margin of 2.55%, which at year end was 6.55% per annum (2024: 7.55%). Principal repayments began in May 2014 and continue until January 2036. The loan is secured on the freehold land and buildings of the charitable company by way of a first legal charge and an unlimited debenture.

A further variable loan was taken out in 2023 for £4,931,219 with Lloyds Bank plc. Interest is charged at Base Rate plus an interest margin of 3.3%, which at year end was 7.30% per annum (2024: 8.30%). Principal repayments began in March 2023 and will continue until February 2048. The loan is secured on the freehold land and buildings of the charitable company by way of a first legal charge and an unlimited debenture.

Page 42

Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

19. Statement of funds

Statement of funds
Statement of funds - current year Balance at 1 September 2024 £ Unrestricted funds Schools general fund 13,134,573 Endowment funds Sinking fund no. 5 124,002 McClintock scholarship 9,472 133,474 Restricted funds Prize fund 138,355 EB Wood memorial Fund 35,995 Bursary fund - Design and Technology Centre 6,800 Sir Walter Plummer Scholarship Trust 4,916 The Lord Elliot Fund 6,978 Nixon Kaer Bursary Fund 1,515 Ruth Claydon Memorial Fund 2,832 Goodacre Hardship Fund 24,209 221,600 Total of funds 13,489,647	Income £ 18,936,439 - - - 4,017 2,309 179,104 - 225 - 73 - - 185,728 19,122,167	Expenditure £ (18,859,139) - - - (8,814) (2,659) (179,104) (6,800) - - - - - (197,377) (19,056,516)	Gains/ (Losses) £ 101,051 - - - 3,784 - - - - - - - - 3,784 104,835	Balance at 31 August 2025 £ 13,312,924
Unrestricted funds Schools general fund Endowment funds Sinking fund no. 5 McClintock scholarship Restricted funds Prize fund EB Wood memorial Fund Bursary fund Design and Technology Centre Sir Walter Plummer Scholarship Trust The Lord Elliot Fund Nixon Kaer Bursary Fund Ruth Claydon Memorial Fund Goodacre Hardship Fund Total of funds
				124,002 9,472
				133,474
				137,342 35,645 - - 5,141 6,978 1,588 2,832 24,209 213,735 13,660,133

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

19. Statement of funds (continued) Statement of funds - prior year Unrestricted funds Schools general fund Endowment funds Sinking fund no. 5 McClintock scholarship Restricted funds Prize fund EB Wood memorial Fund Bursary fund Design and Technology Centre Sir Walter Plummer Scholarship Trust The Lord Elliot Fund Nixon Kaer Bursary Fund Ruth Claydon Memorial Fund Goodacre Hardship Fund Total of funds	Balance at 1 September 2023 £ 12,623,314 124,002 9,472 133,474 125,499 36,019 - 23,907 4,691 6,905 1,515 2,832 27,408 228,776 12,985,564	Income £ 18,751,473 - - - 4,116 2,485 133,492 - 225 73 - - - 140,391 18,891,864	Expenditure £ (18,458,367) - - - (3,257) (2,509) (133,492) (17,107) - - - - (3,199) (159,564) (18,617,931)	Gains/ (Losses) £ 218,153 - - - 11,997 - - - - - - - - 11,997 230,150	Gains/ (Losses) £ 218,153 - - - 11,997 - - - - - - - - 11,997 230,150	Balance at 31 August 2024 £ 13,134,573 124,002 9,472
						133,474
						138,355 35,995 - 6,800 4,916 6,978 1,515 2,832 24,209
						221,600
						13,489,647

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

Unrestricted general funds

Unrestricted general funds may be used for any of the charitable objects of the charitable company.

Endowment funds

Endowment funds are all permanent and include the Sinking fund no. 5 and the McClintock Scholarship.

Restricted funds

The Prize Funds are used to fund prizes and awards, amounts awarded in the period total £3,237 (2023: £nil).

The EB Wood Memorial Fund is represented by two timeshares in the Lake District, the income from which is used to fund educational trips.

The Bursary fund (including the Marks Foundation) was a gift of investments and cash from the Dame Allan’s Development Trust which was to be used to fund scholarships, bursaries and appeals; this has now been fully utilised.

The Design and Technology Centre fund relates to donations received to build and equip the new centre built in the summer of 2015.

The Sir Walter Plummer Scholarship Trust was transferred from the Dame Allan’s Schools’ Trust. The fund is to be applied to provide scholarships to the Schools for boys who are members of the Church of England and who have preferably attended the Schools for two years and also been choristers at St Peter’s Church.

The Lord Elliott Fund was transferred from the Dame Allan’s Schools’ Trust. The fund is to be applied to a boy or girl at the Schools at the discretion of the Principal.

The Nixon Kaer Bursary Fund was transferred from the Dame Allan’s Schools’ Trust. The fund is to be applied to help students in case of need across the Schools.

The Ruth Claydon Memorial Fund was transferred from the Dame Allan’s Schools’ Trust. The fund was established to provide funds annually for prizes for conversational or spoken French. The principal beneficiaries are two maintained sector schools in Kent, any surplus to be awarded at the discretion of the Schools.

The Goodacre Hardship Fund represents donations received from the Goodacre Trust to be used in future to support those families in school suffering temporary financial hardship to enable fees to be paid during this time.

Linked charities

The charitable company is the trustee of, or is required to manage, the Dame Allan's Development Trust ('DADT') which has been linked by the Charity Commission for administration and reporting purposes.

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

20. Summary of funds

Summary of funds - current year

General funds Endowment funds Restricted funds	Balance at 1 September 2024 £ 13,134,573 133,474 221,600 13,489,647 Balance at 1 September 2023 £ 12,623,314 133,474 228,776 12,985,564	Income £ 18,936,439 - 185,728 19,122,167 Income £ 18,751,473 - 140,391 18,891,864	Expenditure £ (18,859,139) - (197,377) (19,056,516) Expenditure £ (18,458,367) - (159,564) (18,617,931)	Gains/ (Losses) £ 101,051 - 3,784 104,835 Gains/ (Losses) £ 218,153 - 11,997 230,150	Balance at 31 August 2025 £ 13,312,924 133,474 213,735
					13,660,133
					Balance at 31 August 2024 £ 13,134,573 133,474 221,600
Summary of funds - prior year
General funds Endowment funds Restricted funds
					13,489,647

21. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2025 £ Tangible fixed assets 19,671,069 Fixed asset investments 2,468,425 Debtors due after more than one year 914,791 Current assets 8,641,948 Creditors due within one year (8,999,286) Creditors due in more than one year (9,384,023) Total 13,312,924	Restricted funds 2025 £ 4,363 150,952 - 58,420 - - 213,735	Endowment funds 2025 £ - - - 133,474 - - 133,474	Total funds 2025 £ 19,675,432 2,619,377 914,791 8,833,842 (8,999,286) (9,384,023)
			13,660,133

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

21. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total	Unrestricted funds 2024 £ 21,064,927 2,322,953 10,373,246 (10,840,835) (9,785,718) 13,134,573	Restricted funds 2024 £ 11,485 151,648 58,467 - - 221,600	Endowment funds 2024 £ - - 133,474 - - 133,474	As restated Total funds 2024 £ 21,076,412 2,474,601 10,565,187 (10,840,835) (9,785,718) 13,489,647

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Gains on investments Dividends, interests and rents from investments (net) Profit on the sale of fixed assets Decrease in fixed assets cost as a result of VAT reclaimed under Capital Goods Scheme Decrease/(increase) in debtors (Decrease)/increase in creditors Interest paid Net cash (used in)/provided by operating activities	2025 £ 170,486 817,311 (107,464) (164,683) (2,829) 1,245,157 64,698 (1,941,441) 611,149 692,384	2024 £ 504,083 778,781 (233,589) (143,747) (4,100) - (730,101) 2,216,998 673,759 3,062,084

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

23. Analysis of cash and cash equivalents

Cash in hand COIF cash funds Total cash and cash equivalents	2025 £ 2,737,451 19,319 2,756,770	2024 £ 3,490,154 18,472
		3,508,626

24. Analysis of changes in net debt

Cash at bank and in hand Debt due within 1 year Debt due after 1 year	At 1 September 2024 £ 3,508,626 (297,387) (8,405,581) (5,194,342)	Cash flows £ (751,856) 301,803 - (450,053)	Other non- cash changes At 31 August 2025 £ £ - 2,756,770 (338,349) (333,933) 338,349 (8,067,232) - (5,644,395)	Other non- cash changes At 31 August 2025 £ £ - 2,756,770 (338,349) (333,933) 338,349 (8,067,232) - (5,644,395)
				(5,644,395)

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

25. Pensions

The charitable company's employees belong to two principal pension schemes, the Teachers’ Pension Scheme (England and Wales) for teaching staff and a personal pension scheme for support staff with Aegon. The total pension cost for the period was £1,849,775 (2024: £1,723,082).

The Teachers’ Pension Scheme ('TPS')

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,711,026 (2024: £1,603,319) and at the year-end £138,681 (2024: £200,339) was accrued in respect of contributions to this scheme.

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers’ Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions.

Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation outcome are:

• Employer contribution rates set at 28.68% of pensionable pay (including a 0.08% administration levy). This is an increase of 5% in employer contributions and the cost control result is such that no change in member benefits is needed.

• Total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £222,200 million, giving a notional past service deficit of £39,800 million

The result of this valuation was implemented on 1 April 2024. The next valuation result is due to be implemented from 1 April 2027.

Support staff pension schemes

The charitable company operate personal pension schemes for support staff and teacher's who have opted out of the TPS with Aegon (formerly Scottish Equitable) and the Pensions Trust.

From July 2014 the charitable company has been required to auto-enrol all eligible staff into a qualifying work place pension scheme and make contributions to such a scheme. Aegon, who operate the existing personal pension scheme for support staff, has also provided this qualifying scheme.

The pension charge for the period includes contributions payable to the pension scheme of £138,749 (2024: £119,763). At the year-end £45,291 (2024: £17,531) was accrued in respect of contributions to this scheme.

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Docusign Envelope ID: 5789C709-3805-8C28-81A0-A7D29C8EADEB

Dame Allan's Schools

(A company limited by guarantee)

Notes to the financial statements Year ended 31 August 2025

26. Operating lease commitments

At 31 August 2025 the charitable company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years	2025 £ 43,689 95,872 139,561	2024 £ 47,136 83,017
		130,153

27. Limited liability

The charitable company is limited by guarantee. Each member undertakes to contribute to the assets of the charitable company, in the event of the charitable company being wound up while he or she is a member, for the debts and liabilities of the charitable company and of the costs of winding up, such amount as may be required not exceeding one pound.

28. Related party transactions

There were no related party transactions in the current or prior period.

Details of remuneration of key management personnel is provided in note 11 to these financial statements.

29. Post balance sheet events

Post year end, on 27 March 2026, a refinancing took place in which the existing bank loans were repaid and replaced with a new £9.5m loan. Interest is charged at Base Rate plus an interest margin of 2.25% on £4.8m of the loan, and for the remainder, interest is charged at a fixed rate of 6.39%. Principal repayments began in March 2026 and will continue until March 2051. The loan is secured on the freehold land and buildings of the charitable company by way of a first legal charge and an unlimited debenture.

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