OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Bruton School For Girls

2025-06-30-accounts

Bruton School for Girls Annual report and financial statements for the year ended 30 June 2025

Registered Company Number: 4094352 Registered Charity Number: 1085577

BRUTON SCHOOL FOR GIRLS YEAR ENDED 30 JUNE 2025

Contents

Page
Governors, Directors, Officers and Advisers 3
The Annual Report of the Governors for the year ended 30 June 2025 4 - 8
Independent Auditor’s Report to the Members of Bruton School for Girls 9 - 11
Statement of Financial Activities for the year ended 30 June 2025 12
Balance Sheet as at 30 June 2025 13
Cashflow Statement for the year ended 30 June 2025 14
Notes to the financial statements for the year ended 30 June 2025 15 - 27

2

BRUTON SCHOOL FOR GIRLS YEAR ENDED 30 JUNE 2025

Governors, Directors, Officers and Advisers

Governors and Directors

Mr E G Hobhouse Mrs L A Anderson CPPtm MCSI FPFS Mr S L Donald Mr I Wilmshurst Mr L S Tuson MBE Mr J B Hopkins Mrs A L Gent

Company Secretary Mr L S Tuson MBE

Registered Office

Bruton School for Girls Sunny Hill Bruton Somerset BA10 0NT

Independent Auditors

RSM UK Audit LLP Davidson House The Forbury Reading Berkshire RG1 3EU

Bankers

HSBC Bank Plc 1 Middle Street Yeovil Somerset BA20 1LR

Solicitors

Veale Wasbrough Vizards Narrow Quay House Narrow Quay Bristol BS1 4QA

3

BRUTON SCHOOL FOR GIRLS THE ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 30 JUNE 2025

The Governors, who are also Directors of the Company for the purpose of the Companies Act 2006, present their annual report and the audited financial statements for the year ended 30[th] June 2025.

As set out previously the School closed on 2 July 2022, with the exception of the Nursery. The Nursery was closed at the end of the 2024-2025 academic year. The Trustee’s report includes the ongoing actions of the Trustees since the closure together with the financial statements.

The information, with respect to Patrons, Governors, Directors, Officers and Advisors, set out on page 3, forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association, applicable Accounting Standards in the United Kingdom, and the Statement of Recommended Practice (SORP (FRS102) “Accounting and Reporting by Charities” , the Charities Act 2011 and the Companies Act 2006 .

REFERENCE AND ADMINISTRATIVE DETAILS

Status

The School is a charitable Company limited by guarantee, incorporated on 23[rd] October 2000 (Company Registered No: 4094352) and a Charity registered with the Charity Commission (Charity Registered No: 1085577) for the advancement of education. Following an internal review of governance, the Memorandum and Articles of Association of the Company were last amended on 28[th] February 2022.

Organisation

The Company commenced operations on 1[st] September 2001, when it assumed responsibility for the objects, assets and liabilities of the Charity, Bruton School for Girls Trust (Charity Registration No 310271). The property (excluding the permanent endowment of the Charity) of Bruton School for Girls Trust together with the property belonging to the Sunny Hill Trust, (which was created by a declaration of trust dated 7[th] May 1970), was transferred to the Company by a Scheme approved by the Charity Commission dated 21[st] March 2002.

The endowed property of the former Charity remains the property of the Charity (Registered No 310271) under the name of Bruton School for Girls Trust of which Bruton School for Girls (the Company) is the sole trustee.

A uniting direction was issued by the Charity Commission on 10[th] June 2003 allowing the Bruton School for Girls Trust to be treated as forming a part of the Charity, Bruton School for Girls. No separate report is made for Bruton School for Girls Trust, it being incorporated in this report.

On 1 March 2022 King’s School, Bruton (KSB) with Charity Registration Number 1071997 took control of Bruton School for Girls (BSG). The financial year of BSG was re-aligned to match that of KSB terminating on 30 June. It was announced that BSG would close at the end of the academic year in May 2022 with the exception of the Nursery which closed in July 2025. The financial results of BSG have since been consolidated into those of KSB.

STRUCTURE GOVERNANCE AND MANAGEMENT

Governors

The Governors all of whom served throughout the year to 30[th] June 2025, and since the year-end, except where otherwise disclosed, are listed on page 3.

Group Structure and related Charities

The Company is the sole Trustee of the Bruton School for Girls Trust (Charity No 310271) that under the Scheme authorised by the Charities Commission on 21[st] March 2002 holds the endowed lands and properties thereon. These were passed on from the previous Charity of the same registered number. These lands and properties were acquired in two parts in 1912 and 1918 and as the financial statements of the former Charity dated 31[st] August 1992 indicate, all properties acquired before 1[st] April 1966 were written off in the year of acquisition. Accordingly, no value is attributed to the present holdings of the Bruton School for Girls Trust, which has neither traded nor acquired or realised any assets during the year.

4

BRUTON SCHOOL FOR GIRLS THE ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

Governance of the School

During the year under review, the Governing Body met, either in person or on-line, at least termly.

Recruitment and Training of Governors

Governors were elected to the Governing Body and nominated based on eligibility, personal competence, specialist experience, skills and availability.

Organisational Management of the School

The day to day running of the charity since the closure of the School has been undertaken directly by the Trustees and the Company Secretary with one member of staff remaining employed on the site in addition to those operating the nursery. Closure of the nursery has led to a redundancy programme for those staff and they will leave the employment of the charity on 31 August 2025. While the nursery remained in operation this year, the Head of Nursery was responsible for day to day activities with management oversight provided by the Head of Hazlegrove Prep School.

Investments powers, policy, and performance

The Governing Body delegates investment powers to the Finance Committee of King’s School, Bruton.

Trading Company

Bruton Girls’ School Company Limited (“Trading Company”) was dissolved in May 2024 during the previous reporting period.

Directors’ indemnities

As permitted by the Articles of Association, the Governors have the benefit of an indemnity which is a qualifying third-party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and remains so in the current year. The Company also purchased and maintained throughout the financial year, Governors’ and Officers’ liability insurance in respect of itself and its Governors.

OBJECTIVES, AIMS AND ACTIVITES

Charitable Objects

The primary objects of the School, as stated in its Memorandum of Association, were to:

The Trustees have engaged with the Charity Commission since the closure in order to secure a scheme with revised objects for BSG Trust to enable the specie land to be used appropriately in the future. Despite public consultations and full disclosure by the Trustees to the Charity Commission, a revised scheme which allows for the future use of the assets towards an agreed objectives has still not been produced.

5

BRUTON SCHOOL FOR GIRLS THE ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

Public Benefit

Although due to its closure, the School has had limited ability to provide direct benefit to the local community, it has made its facilities available to several organisations throughout the year, and has allowed the use of sporting facilities where it is safe to do so.

The nursery has continued to deliver Public Benefit by allowing the use of its facilities and resources by local groups. This ceased in the following financial year when the nursery closed in July 2025.

ACHIEVEMENTS AND PERFORMANCE IN THE SCHOOL YEAR

General Comments

The year has been marked by the work of Governors to enable the Charity Commission to make a decision with regard to a revised scheme for BSGT. The principal areas of activity have been as follows:

The nursery continued to inspire its pupils, providing a wide range of opportunities in and out of the classroom, encouraging them to be ambitious and to gain as wide and varied an experience as possible. From this they gained increased self-awareness, an appreciation of their strengths and what they enjoy, with an understanding for others, and are consequently better able to make good decisions for themselves as their lives unfold.

FINANCIAL REVIEW

Overall Financial Performance and Results for the Year

The deficit for the year was £841k (2024: £663k) and total reserves reduced from £1,417k to £577k due to the costs associated with the closure of the School, ongoing running costs and reduced income.

Key performance Indicators

The Governors considered the school key performance indicators to be the value of the assets held by the charity and the debt accrued. These are identified in the report.

Reserves

The School’s reserves comprise the value of the property it owns. These reserves will be used to service debt and continue to deliver the object.

Notes 15 and 16 to the financial statements shows the assets and liabilities attributable to each fund and shows the movement between each asset.

At the year end the School’s unrestricted funds stood at £577k (2024: £1,417k). Restricted funds at the year-end were nil (2024: £nil).

6

BRUTON SCHOOL FOR GIRLS THE ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

Risk Management and Principal Risks and Uncertainties

The key risks identified by the Trustee are associated with the sale of the property to meet the liabilities of the Charity.

FUTURE PLANS

Business Plan

Following the decision to close the School the Governors’ focus is on preserving the value of the assets of the School, principally the land and buildings, while the Charity Commission continue to consider a future Scheme for the BSGT property which is inextricably intermingled with the BSG assets. This is becoming increasingly challenging given that it is a vacant site and it has become increasingly the victim of urban tourism, vandalism and theft.

While it was hoped to continue the nursery, the ongoing losses sustained and the Charity’s inability to invest due to the uncertainty surrounding any future objects, have led to the decision on its closure at the end of the 2024 - 2025 academic year.

The ongoing plan is that the remainder of the School site will be used to ensure all liabilities of the charity are met and any residual assets will be used to continue to meet revised objects of BSG and BSGT if ever agreed by the Charity Commission.

Going Concern

In May 2022, the Charity Trustees decided that the school (Bruton School for Girls) was not viable from September 2022 as a result of falling pupil numbers and gross tuition fee income with the forecast operating losses for the next 5 years.

In February 2025 the Trustees took the decision to close the Nursery due to ongoing losses and a lack of certainty over the future of the site.

The charity, Bruton School for Girls, remains a going concern, with the support of King’s School Bruton as the sole member of BSG to enable a positive cash position to be maintained, while the school creditors are cleared. The charity assets (as valued in 2022) are significant and are able to cover all current debts of the School.

ACCOUNTING AND REPORTING RESPONSIBILITIES

Statement of Governors’ Responsibilities

The Governors (who are also Directors of Bruton School for Girls for the purposes of company law) are responsible for preparing the Annual Report of the Governors and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Governors are required to:

7

BRUTON SCHOOL FOR GIRLS THE ANNUAL REPORT OF THE GOVERNORS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

The members of the Governing Body are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, 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 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Relevant Audit Information

The Directors, as members of the Governing Body, are satisfied that at the date of approval of this report, there is no relevant audit information (information needed by the Company’s auditor in connection with preparing the audit report) of which the Company’s auditor is unaware. Each member of the Governing Body has taken all the steps that he or she should have taken as a member of the Governing Body in order to make himself or herself aware of the relevant audit information, and to establish that the Company’s auditor is aware of that information.

Auditors

A resolution to reappoint RSM UK Audit LLP as external auditors for the ensuing year will be proposed at the forthcoming annual general meeting.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

Approved by the Governing Body of Bruton School for Girls on 28.11.2025 including, in their capacity

as Company Directors, approving the Directors’ Report contained therein, and signed on its behalf by:

==> picture [184 x 56] intentionally omitted <==

----- Start of picture text -----
Mr E G Hobhouse wm
----- End of picture text -----

==> picture [77 x 56] intentionally omitted <==

----- Start of picture text -----
Date: 28.11.25
----- End of picture text -----

8

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRUTON SCHOOL FOR GIRLS

Opinion

We have audited the financial statements of Bruton School for Girls (the ‘charitable company’) for the year ended 30 June 2025 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

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 UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the Governors’ Report (The Strategic report of the Governors) other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Governors’ 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.

9

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRUTON SCHOOL FOR GIRLS (continued)

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Governors’ Report.

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

Responsibilities of trustees

As explained more fully in the Statement of Governors’ responsibilities set out on pages 7 and 8, 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 trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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.

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

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, 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.

10

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRUTON SCHOOL FOR GIRLS (continued)

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, the governing document and tax legislation. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents, inspecting correspondence with local tax authorities and evaluating advice received from external advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are The Education (Independent School Standards) Regulations 2014, Keeping Children Safe in Education under section 175 of the Education Act 2002, and the UK General Data Protection Regulation (UK GDPR). We performed audit procedures to inquire of management and those charged with governance whether the charitable company is in compliance with these laws and regulations and inspected correspondence with regulatory authorities.

The audit engagement team identified the risk of management override of controls and income recognition as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates. Additionally the audit team tested the completeness of donations by reviewing minutes and post year end bank receipts and substantively tested the income recorded around the year end.

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

Use of our report

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

KERRY GALLAGHER (Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartered Accountants Davidson House The Forbury Reading RG1 3EU

Date 2 February 2026

11

BRUTON SCHOOL FOR GIRLS STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted
Discontinued
Notes
Funds
Income from:
£
Charitable activities
Fees
2
234,531
Ancillary trading income
4
8,157
Other Grants
3
-
Investment income
5
-

Total income
242,688
Expenditure on:
Raising funds
6
228
Charitable activities:
School operating costs
6
839,217
Total expenditure
6
839,445
Net expenditure before transfers and
investment losses
7
(596,757)
Net losses on investments
11
(244,000)
Net expenditure
(840,757)
Transfers between funds
-
Net movement in funds
(840,757)
Funds balances brought forward
1,417,628
Funds balances carried forward
15
576,871		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Total
2025
£
234,531
8,157
-
-

242,688
228
839,217
839,445
(596,757)
(244,000)
(840,757)
-
(840,757)
1,417,628
576,871		 Total
2024
£
200,971
39,094
233,773
5
473,843
491
1,120,876
1,121,367
(647,524)
(15,002)
(662,526)
-
(662,526)
2,080,154
1,417,628

12

BRUTON SCHOOL FOR GIRLS BALANCE SHEET AS AT 30 JUNE 2025

Company Registration Number: 4094352 As at As at
30 June 30 June
2025 2024
Notes £ £
Fixed assets
Tangible assets 10 3,541,350 3,541,350
Investment property 11 206,000 450,000
3,747,350 3,991,350
Current assets
Stocks 12 - 1,621
Debtors 13 48,606 12,780
Cash at bank and in hand 31,624 6,842
Total current assets 80,230 21,243
Creditors: amounts falling due within one year 14 (3,231,282) (2,589,275)
Net current liabilities (3,151,052) (2,568,032)
Total assets less current liabilities 596,298 1,423,318
Provisions
Pension provision 17 (19,427) (5,690)
Net assets 576,871 1,417,628
Funds:
Unrestricted funds 15 370,871 967,628
Fair value reserve 15 206,000 450,000
Totalcharityfunds 576,871 1,417,628

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The financial statements on pages 12 to 27 were approved by the Governors and signed on its behalf by:

==> picture [74 x 51] intentionally omitted <==

----- Start of picture text -----
Kl
----- End of picture text -----

Mr E G Hobhouse Governor

13

BRUTON SCHOOL FOR GIRLS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025

BRUTON SCHOOL FOR GIRLS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
Notes
Net cash used in operating activities
18
Cash flows from investing activities
Interest received
5
Sale of investment property
Net cash (used in)/generated from investing activities
Financing
Proceeds of loan from parent company
Repayment of loan from parent company
Net cash generated from/(used in) financing activities
Increase/(decrease) in cash in the year
Cash balances at start of year
Cash balances at end of year
Relating to:
Bank balances and short-term deposits included in “cash at bank and
in hand”		 2025
£
(375,218)
-
-
-
400,000
-
400,000
24,782
6,842
31,624
31,624		 2024
£
(463,108)
5
520,000
520,005
300,000
(444,592)
(144,592)
(87,695)
94,537
6,842
6,842

14

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1: Principal accounting policies

General information and basis of accounting

Bruton School for Girls is a private company limited by guarantee, incorporated in England and Wales. Full details of the school constitution, place of business, and activities are given in the Annual Report of the Governors presented with these accounts.

The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include investment properties and certain financial instruments at fair value, and in accordance with the Companies Act 2006, Charities Act 2011, Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)) (issued in October 2019) – (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

In May 2022, the Charity Trustees decided that the school (Bruton School for Girls) was not viable from September 2022 as a result of falling pupil numbers and gross tuition fee income with the forecast operating losses for the next 5 years.

In February 2025 the Trustees took the decision to close the Nursery due to ongoing losses and a lack of certainty over the future of the site.

The charity, Bruton School for Girls, remains a going concern, with the support of King’s School Bruton as the sole member of BSG to enable a positive cash position to be maintained, while the school creditors are cleared. The charity assets (as valued in 2022) are significant and are able to cover all current debts of the School.

Discontinued operations

Following the decision by the Trustees to close the nursery all income and expenditure relating to this activity is classed as discontinued.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. The balance of income received for specific purposes but not expended during the year is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

Fees and similar income

Fees receivable and charges for services and use of premises are accounted for in the year in which the service is provided. Fees receivable are stated after deducting allowances, scholarships, and other remissions granted by the School, but include contributions received from restricted funds for scholarships, bursaries, and other grants.

15

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

1: Principal accounting policies (continued)

Expenditure

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. The irrecoverable element of VAT is included with the item of expense to which it relates.

Fund accounting

Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the School at the discretion of the trustees.

Pension costs

The Pension Trust Growth Plan is a multi-employer funded scheme whose contributions are recognised in the Statement of Financial Activities in the year to which they relate, as there is insufficient information available to used defined benefit accounting. A liability is recognised for contributions arising from an agreement with the multi-employer plan that determines that the school will fund a deficit.

Contributions are discounted when they are not expected to be settled wholly within 12 months of the year end.

All other pension arrangements are defined contribution schemes where the assets of the schemes are all held separately from those of the school in an independently administered fund. In all cases the pension cost charge represents contributions by the school to the fund. Contributions payable to the school defined contribution scheme are charged to the Statement of Financial Activities to spread the cost of pensions over the service lives of employees in the schemes.

Operating leases

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

Tangible fixed assets

Tangible fixed assets are stated at historic purchase cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Expenditure, over £1,000, on tangible fixed assets is capitalised. Repair, renovation, and replacement expenditure is written off in the Statement of Financial Activities.

Depreciation

Depreciation of assets is calculated to write off the cost of tangible fixed assets on a straight-line basis, less their estimated residual values, over the expected useful economic lives of the assets concerned. Assets during construction are not depreciated until they are brought into use. A full year’s depreciation is charged in the year of the acquisition and not in the year of disposal.

The principal annual rates used for this purpose, which were reviewed in 2020 are:

%
Freehold Property:
Land and buildings* 2
Sports facilities and car parks 5
Furniture & equipment 10
Computers, software & telephone 33.3
Motor vehicles 25

Gains on disposal of tangible fixed assets are shown in the Statement of Financial Activities.

16

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

1: Principal accounting policies (continued)

Tangible fixed assets (continued)

*No depreciation was charged on buildings as the Governors have assessed that their residual value is far greater than their cost in the year ended 30 June 2025.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.

Stocks

Stocks of stationery and consumables are stated at the lower of cost, on a first-in, first-out basis, and net realisable value.

Taxation

The school is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Accordingly, the school is potentially exempt from taxation in respect of income or capital gains received within categories covered by part 11, chapter 3 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include fees and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, because of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

17

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

1: Principal accounting policies (continued)

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings amounts are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Liabilities are recognised within the financial statements in respect of all expenditure for which the entity has a measurable obligation, be it constructive or legal, at the balance sheet date. Any expenditure which is committed to, but not measurable at this time, is disclosed within the notes to the financial statements as a contingent liability.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

Critical accounting estimates and areas of judgement

In the application of the school accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are relevant.

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

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Critical areas of judgement

Fair value of freehold and investment property

Investment property included within the financial statements is carried at fair value. The Trustees arrange valuations of the investment property by professional valuers in order to attain a representative fair value at the year end. The Trustees consider this to be an appropriate basis of valuation given the skills and expertise of the professional valuers. This is inherently judgemental.

18

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

2: Fee income

2:
Fee income
Gross Fees
Less: Total bursaries, grants, and allowances		 Total
2025
£
234,655
(124)
234,531		 Total
2024
£
201,431
(460)
200,971
3: Government Grants
2025 2024
Discontinued operations £ £
Turing Scheme - 233,773

The Turing Scheme was established by the Department for Education in 2021 as a student exchange scheme and to provide funding for international opportunities. The scheme came to an end during the prior year.

4: Ancillary trading Income

4:
Ancillary trading Income
Sundry receipts
Profit on disposal of tangible fixed assets
Lettings income
5:
Investment income
Interest from short term deposits		 2025
£
227
-
7,930
8,157
2025
£
-		 2024
£
3,057
14,113
21,924
39,094
2024
£
5

5: Investment income

19

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

6: Total expenditure

6:
Total expenditure
Cost of raising funds:
Marketing & publicity
Charitable activities:
Costs of providing education
Teaching
Welfare
Premises
Support costs
Governance costs
Total cost of providing education
Total expenditure on charitable activities
Total expenditure
Analysis of support costs include:
Staff costs
Finance and administration
ICT infrastructure		 Staff
costs
£
-
220,076
-
19,064
47,759
-
286,899
286,899
286,899		 Other costs
£
228
16,704
-
268,937
99,759
166,918
552,318
552,318
552,546
Educational
£
47,759
69,071
30,688
147,518		 2025
£
228
236,780
-
288,001
147,518
166,918
839,217
839,217
839,445
2025
£
47,759
69,071
30,688
147,518		 2024
£
491
252,478
238,625
198,398
263,208
168,167
1,120,876
1,120,876
1,121,367
2024
£
48,277
182,563
32,368
263,208

Included within charitable activities are other costs of £839,445 (2024: £233,773) relating to discontinued operations.

7: Net expenditure

Net expenditure is stated after charging:
Auditor’s remuneration for external audit services
Loss on disposal of fixed assets
8:
Employee information
The average number of persons (full time equivalent) employed by the school
during the year was:
Teaching
Premises
Support		 2025
£
8,350
-
2025
Number
8
-
2
10		 2024
£
7,950
15,000
2024
Number
8
1
1
10

8: Employee information

20

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

8: Employee information (continued)

Staff costs (for the above persons)
Wages and salaries
Social security costs
Pension costs
Termination and redundancy payments		 2025
£
209,734
19,399
31,156
26,610
286,899		 2024
£
203,389
17,910
34,458
15,825
271,582

There were no employees receiving total emoluments in excess of £60,000 (2024: none)

As a result of the closure of the nursery, redundancy payments were accrued for 8 members of staff. In the prior year, as a result of the closure of the school, redundancy payments were paid to 1 member of staff.

No Governor received any remuneration from the school during the year (2024: £nil). £nil (2024: £nil) was paid to Governors for reimbursement for authorised expenses.

9: Taxation

The school is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. The school is not registered for VAT and accordingly, all its expenditure is recorded inclusive of any VAT incurred.

10: Tangible fixed assets

10:
Tangible fixed assets
Computers,
Freehold Furniture & software & Motor
property equipment
telephone		 vehicles Total
£ £ £ £ £
Cost
At 1 June 2024 6,212,461 532,903 255,573 78,430 7,079,367
Additions - - - - -
At 30 June 2025 6,212,461 532,903 255,573 78,430 7,079,367
Accumulated depreciation
At 1 June 2024 2,671,111 532,903 255,573 78,430 3,538,017
Charge in year - - - - -
At 30 June 2025 2,671,111 532,903 255,573 78,430 3,538,017
Net book value
At 30 June 2025 3,541,350 - - - 3,541,350
At 30 June 2024 3,541,350 - - - 3,541,350

In addition to the above assets, the School owns certain land and buildings which it received for no value from the Bruton School for Girls Trust and the Sunnyhill Trust.

21

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

11: Investment property

11:
Investment property
Fair value
At 1 July 2024
Revaluations
At 30 June 2025		 2025
£
450,000
(244,000)
206,000

The fair value has been adjusted to reflect the value achieved on sale subsequent to the balance sheet date.

12: Stocks

Stationery and consumables
13:
Debtors
Amounts falling due within one year:
Fees
Other debtors
Prepayments & accrued income		 2025
£
-
2025
£
200
29,856
18,550
48,606		 2024
£
1,621
2024
£
393
384
12,003
12,780

13: Debtors

Fees invoiced in advance are shown within creditors and amounts not received by the balance sheet date are shown above as fee debtors.

14: Creditors: amounts falling due within one year

Trade creditors
Taxation and social security costs
Other creditors
Amounts due to group undertakings
Refundable deposits
Accruals
Contractual obligation		 2025
£
213,405
4,247
10,475
2,952,553
3,600
47,002
-
3,231,282		 2024
£
21,293
3,619
25,156
2,509,854
3,200
24,419
1,734
2,589,275

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

22

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

15: Funds

15:
Funds
Current year
Unrestricted funds
General fund
Fair value reserve
Total unrestricted funds
Total funds		 Balance at
1 July 2024
Income Expenditure
Investment
gains/(loss)
Balance at
30 June
2025
£
£
£
£
£
967,628
242,688
(839,445)
-
370,871
450,000
-
-
(244,000)
206,000
1,417,628
242,688
(839,445)
(244,000)
576,871
1,417,628
242,688
(839,445)
(244,000)
576,871

The fair value reserve represents movements in the fair value of investment properties compared to their original book value.

Prior year
Restricted funds
Turing scheme
Unrestricted funds
General fund
Fair value reserve
Total unrestricted funds
Total funds		 Balance at
1 July 2023
Income Expenditure
Investment
gains/(loss)
Transfers
Balance at
30 June
2024
£
£
£
£
£
£
-
233,773
(233,773)
-
-
-
1,082,491
240,070
(887,594)
(2)
532,663
967,628
997,663
-
-
(15,000)
(532,663)
450,000
2,080,154
240,070
(887,594)
(15,002)
-
1,417,628
2,080,154
473,843
(1,121,367)
(15,002)
-
1,417,628

The transfer represents the proceeds of sale of the investment property disposed of during the prior year.

The Turing Scheme was established by the Department for Education in 2021 as a student exchange scheme and to provide funding for international opportunities. The scheme came to an end during the prior year.

16: Analysis of the net assets between funds

The net assets are held for the various funds as follows:

Current year
Unrestricted funds
Fair value reserve
Total		 Tangible fixed
Assets
Investment
properties
Net current
liabilities
Pension
provision
Total
£
£
£
£
3,541,350
-
(3,151,052)
(19,427)
370,871
-
206,000
-
-
206,000
3,541,350
206,000
(3,151,052)
(19,427)
576,871

23

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

16: Analysis of the net assets between funds (continued)

Prior year

Prior year
Tangible fixed Investment Net current Pension
Assets properties liabilities provision Total
£ £ £ £
Unrestricted funds 3,541,350 - (2,568,032) (5,690) 967,628
Fair value reserve - 450,000 - - 450,000
Total 3,541,350 450,000 (2,568,032) (5,690) 1,417,628

17: Pensions

The Pensions Trust Growth Plan

The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 nonassociated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

30 June 2025 30 June 2024 30 June 2023
£ £ £
Present value of provision 19,427 5,690 14,938

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2019 to 30 September 2025:

£11,243,000 per annum (payable monthly and increasing by 3% each on 1st April)

24

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

17: Pensions (continued)

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

PRESENT VALUES OF PROVISION - RECONCILIATION OF OPENING AND CLOSING PROVISIONS

Provision at start of year
Unwinding of the discount factor (interest expense)
Deficit contribution paid
Remeasurements - impact of any change in assumptions
Remeasurements - amendments to the contribution schedule
Provision at end of year
INCOME AND EXPENDITURE IMPACT
Interest expense
Remeasurements – impact of any change in assumptions
Remeasurements – amendments to the contribution schedule
ASSUMPTIONS
30 June
2025
Rate of discount
4.40		 Year ended
30 June
2025
£
5,690
102
(7,633)
211
21,057
19,427
Year ended
30 June
2025
£
102
211
21,057
30 June
2024
5.28		 Year ended
30 June
2024
£
14,938
617
(9,880)
15
-
5,690
Year ended
30 June
2024
£
617
15
-
30 June
2023
6.40

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the year in which it arises.

It is these contributions that have been used to derive the company's balance sheet liability.

25

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

18: Reconciliation of net expenditure to net cash flow from operating activities

Net expenditure for the year
Investment income
Increase/(decrease) in pension provision
Losses on investments and investment properties
Decrease/(increase) in stocks
(Increase)/decrease in debtors
Increase in creditors
Net cash flow from operating activities
Cash at bank and in hand
Net Debt		 At
1 July
2024
£
6,842
6,842		 2025
£
(840,757)
-
13,737
244,000
1,621
(35,626)
242,007
(375,018)
Cash flow
£
24,782
24,782		 2024
£
(662,526)
(5)
(9,248)
15,002
(549)
109,524
84,694
(463,108)
At
30 June
2025
£
31,624
31,624

19: Capital

The school is a charitable company limited by guarantee. Each member has undertaken to contribute a sum not exceeding £10 to the assets of the company to meet its liabilities if called on to do so. The total amount guaranteed by members on 30 June 2025 is £50 (2024: £50).

20: Related party transactions

During the year the school incurred costs of £42,699 (2024: £152,681) which were paid by the parent company King’s School Bruton. At the year-end £1,382,223 (2024: £1,339,524) was outstanding and is included within amounts owed to group undertakings.

During 2023 the school received a loan of £1,314,922 from the parent company, King's School Bruton. During the year £400,000 was advanced and £nil was repaid (2024: £300,000 was advanced and £444,592 was repaid). As at 30 June 2025 £1,570,330 (2024: £1,170,330) was outstanding and is included within amounts owed to group undertakings.

21: Ultimate parent undertaking

King’s School, Bruton, a company registered in England and Wales, is the ultimate parent undertaking and controlling party. The group financial statements, which include this entity, are available from King’s School, Bruton, Somerset, BA10 0ED.

26

BRUTON SCHOOL FOR GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 (continued)

22: Comparative Statement of Financial Activities for the year ended 30 June 2024

Discontinued
Operations
Unrestricted
Restricted
Notes
Funds
Funds
Income from:
£
£
Charitable activities
Fees
2
200,971
-
Ancillary trading income
4
39,094
-
Other Grants
3
-
233,773
Donations, gifts & legacies
-
-
Investment income
5
5
-

Total income
240,070
233,773
Expenditure on:
Raising funds
6
491
-
Charitable activities:
School operating costs
6
887,103
233,773
Total expenditure
6
887,594
233,773
Net expenditure before transfers and
investment losses
7
(647,524)
-
Net (losses)/gains on investments
(15,002)
-
Net expenditure
(662,526)
-
Transfers between funds
-
-
Net movement in funds
(662,526)
-
Funds balances brought forward
2,080,154
-
Funds balances carried forward
15
1,417,628
-
Total
2024
£
200,971
39,094
233,773
-
5

473,843
491
1,120,876
1,121,367
(647,524)
(15,002)
(662,526)
-
(662,526)
2,080,154
1,417,628		 Total
2023
£
127,888
35,579
186,608
116
63
350,254
(65,394)
1,568,813
1,503,419
(1,153,165)
12,545
(1,140,620)
-
(1,140,620)
3,220,774
2,080,154

23: Post Balance Sheet Events

Property known as Highcroft which formed part of the Bruton School for Girls site and was held within Tangible Fixed Assets was sold subsequent to the balance sheet date for proceeds of £1.1m.

27