**Registered number: 04243510 Charity number: 1087839**
## **READING BLUE COAT SCHOOL**
**(A company limited by guarantee)**
**GOVERNORS' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2025**
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Governors and advisers**|1 - 2|
|**Governors' report**|3 - 16|
|**Independent auditor's report on the financial statements**|17 - 20|
|**Consolidated statement of financial activities**|21|
|**Consolidated balance sheet**|22 - 23|
|**Company balance sheet**|24 - 25|
|**Consolidated statement of cash flows**|26|
|**Notes to the financial statements**|27 - 52|
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025**
|**Governors**|H Williams, Chair of Governors1,2,4|
|---|---|
||L Hague (resigned 16 June 2025)2,3|
||P Etherington, Chair of the Finance & General Purpose Committee1,4|
||M Smith1|
||A Colpus1,3,4|
||M Rumbelow, Health & Safety Governor1|
||A Chandar2|
||C Freeman, Chair of Safeguarding Committee2|
||H Roberts, Chair of Education Committee3|
||S Taylor1|
||K Hallowell (appointed 17 March 2025)|
||K Hartshorn (appointed 2 December 2024)1,4|
||J Reed Johnson (appointed 8 May 2025)3|
|1
Member of the Finance and General Purpose Committee
2
Member of Safeguarding Committee
3
Member of Education Committee
4
Member of Remuneration Committee
**Company registered**
**number**
04243510
**Charity registered**
**number**
1087839
**Registered office**
Holme Park
Sonning-on-Thames
Reading
RG4 6SU
**Headmaster**
P Thomas
**Bursar and Company**
**Secretary**
A West
**Independent auditor**
Crowe U.K. LLP
R+ Building
2 Blagrave Street
Reading
Berkshire
RG1 1AZ
**Bankers**
Lloyds Bank plc
Market Place
Reading
Berkshire
RG1 2EQ||
Page 1
**READING BLUE COAT SCHOOL (A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
|**Solicitors**|Schofield Sweeney||
|---|---|---|
||Church Bank House||
||Bradford||
||BD1 4DY||
|**Insurance Brokers**|Marsh Limited||
||4 Milton Road||
||Haywards Heath||
||West Sussex||
||RH16 1AH||
|**Key Management**|P Thomas|Headmaster|
||A West|Bursar and Clerk to the Governors|
||E Trelinski|Second Master|
||K Magill|Deputy Head (Education Development)|
||G Williams|Deputy Head (Pastoral)|
||R Tidbury|Deputy Head (Academic)|
||K Richardson|Deputy Head (Co-Curricular)|
||S Bunnell-Pyper|Foundation Director|
||F Robinson|Director of External Relations (Resigned 13 December 2024)|
||C Cadby|Director of External Relations (Appointed 2 December 2024)|
||I Gregory|Director of Human Resources|
Page 2
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025**
The Governors of the School present their annual report for the year ended 31 August 2025 in accordance with the Charities Act 2011 and the Companies Act 2006, thus including the Directors’ Report and Strategic Report under the 2006 Act, together with the audited financial statements for the year, and confirm that the latter comply with the requirements of the Companies Act 2006, the Company’s Memorandum & Articles of Association and the Charities SORP 2015.
## **DIRECTORS’ REPORT**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
Reading Blue Coat School (“the Company”, “the School” or “the Charity”), is a charitable company limited by guarantee, company registration number 04243510 and charity registration number 1087839. In the event of the Company being wound up, the liability of each member is limited to a maximum of £1.
Reading Blue Coat School was founded in 1646 by Richard Aldworth, to provide “education and upbringing” to children. The charitable company was incorporated on 29 June 2001 and registered as a charity on 2 August 2001.
The Governors, Officers, Key Addresses and Advisors are set out on Pages 1 and 2.
The Company has a wholly owned subsidiary, Reading Blue Coat School (Trading) Limited.
The School is an active member of the Headmasters and Headmistresses Conference, the Society of Heads, the Association of the Governing Bodies of Independent Schools and the Independent Schools’ Bursars Association.
## **OBJECTS AND PRINCIPAL ACTIVITIES**
The main Object, as set out in the charitable company’s Articles of Association, is the advancement of education by carrying on or managing schools for boys and girls under the age of 25 years, in which religious instruction, in accordance with the doctrines of the Church of England, shall be given.
Reading Blue Coat School is a selective day school for boys and girls between the ages of 11-18, shaped by its Christian Foundation, and its strong links to the nearby city of Reading.
The Governors, in consultation with the Headmaster and Senior Leadership Team, regularly review the School’s purpose and strategic aims to ensure that the School’s principal activities are aligned to its charitable objects. The School commits to offering fourteen fully funded places at any one time (Foundation Awards) to reflect the original intention of its founders and benefactors. These are awarded to students from low socio-economic backgrounds, living in, or in the vicinity of, Reading, with priority given to those from the most deprived areas.
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**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## _**Governing Document**_
The School is governed by its Memorandum and Articles of Association, last amended on 27 November 2023.
## _**Governing Body**_
The Governors are all Directors of the Company and Trustees of the Charity. Governors are appointed by a resolution of the Board of Governors. The number of Governors shall not be subject to any maximum, but shall not be less than five (excluding any ex-officio Governors). There can be up to two ex-officio Governors (the priest of St Andrew’s Church, Sonning on Thames and the Chair of the Reading Blue Coat and Archbishop Laud Charitable Trust). One third of Governors must retire every year, but may offer themselves for re-election. No Governor shall serve for more than nine consecutive years, unless Governors consider it is in the best interests of the Charity.
Those who held office during the year are listed on page 1.
## _**Recruitment and Training of Governors**_
Potential Governors are identified by members of the Governing Body and considered against the Body’s specifications concerning eligibility, competence, specialist skills and local availability. New Governors are inducted into the workings of the School as a Charity and a Company through a familiarisation day to the School and at their attendance at termly meetings. They are issued with the ABGIS (Association of Governing Bodies of Independent Schools) Guidelines for Governors and the Charity Commission’s ‘The Essential Trustee’, as well as all key School Policies. They are also provided with Safeguarding training before they join the Board.
Training is regularly offered to all Governors. Bespoke courses are held in conjunction with Governors’ meetings to address particular areas. Governors are encouraged and expected to attend events during the School year (e.g. Open Days, Prize Giving, Sports fixtures, Performing Arts events), and to regularly undertake visits where they observe daily School life.
## _**Corporate Governance**_
The Governing Body is mindful of the principles and recommended practice set out in the Charity Governance Code for larger charities, and believes that it applies, much evidenced in this annual report, the specified principles of organisational purpose, leadership, integrity, decision making, risk and control, board effectiveness, diversity, openness and accountability.
## _**Organisational Management**_
The members of the Governing Body are legally responsible for the overall management and control of the School. The business of the Governing Body is carried out through meetings of the Board and its Committees. Details of the Committees are provided on page 1.
The Governing Body meets a minimum of four times a year. The September meeting is a review and planning meeting at which the Board considers progress made towards strategic objectives during the previous year, and identifies areas of focus for the coming year. The meetings in December, March and June are decision-making sessions, at which the Board receives reports and considers recommendations from the various Committees.
The Committees are the Education Committee, the Finance and General-Purpose Committee, the Safeguarding Committee and the Remuneration Committee. The Headmaster, Bursar and Second Master attend meetings of the Governing Body and its Committees (except Remuneration Committee) along with other members of Key Management where appropriate and invited. In addition, the Senior Leadership Team holds a termly Health & Safety Committee meeting which is attended by the Governor with responsibility for Health & Safety. In addition to the four scheduled meetings per year, the Governors meet at a Strategy Day annually.
A Governance review was undertaken in the year which led to the establishment of an Estate Committee and the reforming of the Remuneration Committee into a broader Governance Committee.
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## **READING BLUE COAT SCHOOL (A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
The Bursar is also the Clerk to the Governors, and is supported by a Secretary to perform the duties of Clerk.
The day-to-day running of the School is delegated by the Governors to the Senior Leadership Team of the School, as detailed on page 2 (key management personnel). The Senior Leadership Team is in turn supported by the Extended Leadership Team.
The remuneration of key management personnel is set by the Remuneration Committee, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the School’s success.
The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools to ensure that Reading Blue Coat School remains sensitive to the broader issues of pay and employment conditions elsewhere.
## **AUDITORS**
The Governors are responsible for ensuring that the Governors’ Report and other information included in the annual report is prepared in accordance with company law in the United Kingdom. So far as each of the Governors is aware at the time the report is approved:
- There is no relevant audit information of which the charitable company’s auditors are unaware; and
- • Each Governor has taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information (s.234ZA(2)).
In accordance with Section 485 of the Companies Act 2006, a resolution proposing the appointment of Crowe U.K. LLP as auditors of the company will be put to the Annual General Meeting.
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## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **STRATEGIC REPORT**
The School’s purpose is to:
- Inspire in our students a life-long love of learning and the confidence to individually flourish;
- Equip our students to thrive in a rapidly changing world;
- Cultivate a warm, kind, noticing culture where students are happy, and inclusion is the norm and diversity is celebrated;
- Develop grounded, socially responsible, outward looking students, ready to lead fulfilling lives and make a positive contribution to the world;
- Nurture a values-based community, on our shared values of aspiration, compassion, courage, integrity and service.
The School’s strategic aims underpin its purpose, and are set by the Governors, in conjunction with the Senior Leadership Team, after careful consideration of the Charity Commission’s general guidance on public benefit, and in particular of its supplementary guidance on advancing education.
The Headmaster and his Senior Leadership Team have a Development Plan to support each strategic aim, and progress against this plan is reviewed annually at the Senior Leadership Team Strategy Day. Governors also review the Development Plan annually.
As the School has continued to grow and the move to full co-education becomes increasingly embedded, we remain committed to fulfilling our purpose and enabling students to leave Reading Blue Coat as rounded and grounded individuals who have been encouraged to seize the many and varied opportunities on offer at the School.
The School’s performance was last examined by the Independent Schools’ Inspectorate in February 2024, and the School was found to be compliant with the standards specified in the Education (Independent School Standards) Regulations 2014. The report was highly complimentary of the School, noting “high-quality academic and personal outcomes” for students and highlighting the “rich and varied learning environments” created on the School site, which allow students to be “active, creative, reflective, spiritual and studious”.
## **OPERATIONAL PERFORMANCE OF THE SCHOOL**
The School’s primary operational focus is on the education of its students. The average figure enrolled during the year was 824.
Student numbers remain healthy, but the School is very mindful of the economic and political pressures facing Independent Education. Reading Blue Coat remains focused on ensuring that the offering on all fronts – academic, pastoral, co-curricular – is excellent value for money and of a very high quality, in order to ensure the School remains extremely attractive to families. The School welcomed the first cohort of Year 7 girls in September 2023, and their integration into the School community was a resounding success. The School will be fully co-educational in all year groups by 2027. The Governing body made this decision from a position of financial strength, in recognition of the changing social landscape.
Prudent optimism, along with a laser focus on the quality of an outstanding all-round education is both justified and necessary as we move forward.
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**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## _**Academic**_
The 2025 A Level cohort attained 84% A*-B achieving our longstanding target of 80% for the first time. These were the School’s best A level results under exam conditions. At GCSE, an average grade of 7.6 was achieved by the students, with 61% of results at the top 8 or 9 mark, again the School’s best ever results under exam conditions. 99% of grades were at grade 4 or above; tremendous results of which both students and staff can be rightly very proud.
The Futures programme ensures that every student is supported to make the right ‘next step’ for them when they leave Reading Blue Coat. 88% of leavers secured places at their university of choice, with the majority winning places at Russell Group universities. Four students achieved places to study medicine. Bristol and Exeter were the two most popular places to study, and Economics was the most popular course.
## _**Co-Curricular**_
The Co-Curricular provision at Reading Blue Coat School remains a vibrant and integral part of school life, with students and staff engaging enthusiastically across a wide range of activities. We are proud to maintain a 100% participation rate, reflecting our commitment to a holistic education that nurtures the whole person and prioritises character development. Through these opportunities, students are encouraged to explore the School’s values, develop a love of learning, and prepare themselves for life beyond Blue Coat.
## _**Co-Curricular: Performing Arts**_
Performing Arts continues to thrive as a dynamic and inclusive area of school life. This year’s productions included The Crucible, which showcased exceptional dramatic maturity and the musical Oliver! which brought together a cast of over 100 students, highlighting the scale and ambition of our theatrical programme.
Dance has grown significantly in its inaugural year, with students exploring a wide range of genres. Our first internal dance competition saw over 50 students take part, with winners of different categories going on to represent the School in an external dance competition. A new event this year was Feel the Beat, a collaborative evening of music and dance featuring students from Years 7–13, with performances ranging from tap to traditional Indian dance.
The Music Department continues to offer a rich programme, with 12 ensembles including String Quartets and Jazz Bands. The annual Grand Concert remains a highlight, bringing together musicians from across the School, while Swing into Summertime provided a joyful finale to the year.
Public Speaking remains a popular and well-attended activity, with over 100 students participating weekly and showcasing their skills at four major events throughout the year.
## _**Co-Curricular: Sport**_
Sport at Reading Blue Coat has enjoyed another outstanding year, with over 90 teams playing more than 400 fixtures and 80% of the student community representing the School in sport over the academic year. A number of our competitive teams enjoyed national success including the boys' football team and the girls' netball team.
Rowing continues to be a standout sport, with the First VIII pre-qualifying for Henley Royal Regatta after placing 6th fastest junior crew at Marlow International Regatta and 25th overall out of 111 elite, club, junior, and university men’s eights. Four of our top Year 11 rowers were also selected to trial for the GB vs France match.
Our Athlete Development Programme supports students from Years 8–13 with bespoke training, strength and conditioning, and one-to-one mentoring, ensuring athletes are nurtured at every level. This year also saw our rugby team embark on an unforgettable summer tour to South Africa.
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## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## _**Co-Curricular: Adventure Education**_
Adventure Education remains a cornerstone of life at Blue Coat. Students in Years 7–9 engage in a wide range of activities including Climbing, Bouldering, Sailing, Paddle Sports, Mountain Biking, and Bushcraft. These experiences are not just recreational but offer pathways to qualifications and leadership roles.
Year 9 students are introduced to the Combined Cadet Force (CCF), with opportunities to join the Army, Navy, or RAF sections. Weekly parades and external camps allow cadets to develop discipline, teamwork, and leadership skills.
Duke of Edinburgh participation has reached record levels, with 104 students this year registered to complete their Bronze Award, 34 Silver, and 20 Gold awards. The programme continues to promote the School’s fifth value of service, with many students engaging in community work through the Aldworth Partnership. This year also marked the return of long-haul expeditions post-Covid, with a two-week trip to Eswatini. Students immersed themselves in local culture and contributed to charitable projects, making it a truly transformative experience.
## _**Co-Curricular: Activities**_
The Activities Programme is central to the student experience at Reading Blue Coat. Students in Years 7–9 enjoy two timetabled sessions each week, exploring Adventure Education, Enterprise, and Service. As they progress, they are given increasing choice to shape their own co-curricular journey. Senior Activities for Years 10–13 take place every Thursday and are divided into six strands:
- Adventure
- Creative Arts
- Leadership and Social Action
- Sport and Wellbeing
- Service
- Super Curriculum
With over 40 sessions on offer, students have enjoyed everything from Dissection and Jewellery Making to Law, Ultimate Frisbee, and Meditation. These sessions foster new friendships, personal growth, and a spirit of curiosity and exploration.
## _**Co-Curricular: Clubs, Societies and Trips**_
With over 100 clubs running weekly, our co-curricular landscape is as diverse as it is inclusive. Most clubs are included in school fees, and students are encouraged to participate in as many as they wish. Recent additions, inspired by student voice, include War Hammer, Photography, and Media, alongside new offerings such as Art of Magic, Bee Keeping, Manga Drawing, and a new Art Club.
Our trips programme continues to offer a rich blend of academic and cultural experiences. This year, students travelled to Iceland, New York, Barcelona, and Italy, and took part in three ski trips. New additions this year include a Psychology trip to Krakow and a Year 7 cultural visit to the Rhineland.
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## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Pastoral & Wellbeing**
Pastoral care at the School is delivered primarily through a strong culture of positive relationships between students and staff. Each student is assigned to a Tutor, who is in turn managed by a Head of Year who has an overview of the cohort. Students meet with their Tutors most days, in groups and assemblies, and also meet fortnightly for one-to-one meetings. This enables strong communication and understanding, so that pastoral staff can support students proactively. This also enables staff to build a picture of the students, understanding their unique personalities, skills and interests, likes and dislikes, so that they can better advise them on how to make the most from their Blue Coat experience. We continue to build this system each year, improving the way we record and monitor one-to-one meetings, publishing a Tutoring Manual for staff, a Wellbeing Directory, and providing a wealth of training opportunities such as Coaching or Mental Health First Aid.
Blue Coat also delivers an innovative Wellbeing and Futures curriculum, in which the whole School participates in a weekly theme (e.g., relationships, or the world of work) and engages with it in an age-appropriate way. Using a wide variety of bespoke resources, alongside the best of external resources (e.g., the Wellbeing Hub, Morrisby), students are challenged to think critically and in context about issues that may affect their wellbeing and development, now and in the future.
The School also promotes a strong ethos of inclusion and celebrating diversity. Established and student-led groups meet each week, covering key topics such as racial and cultural inclusion, LGBT+, gender quality, neurodiversity. This provision also contributes to a significant events programme, such as celebrating Holi festival, Pride, and presentations from visiting speakers such as the author Laura Bates (January 2024).
For cases when students need some additional support, the School continues to develop its provision in the Montgomery Wellbeing Centre, where medical care is provided alongside access to counsellors and mentors. The School also promotes peer-to-peer support, through a proactive and approachable Pastoral Prefect team, Middle School Leaders, and Lower School Ambassadors, and through the development of inter-year group communication in ‘House families’ (groups of students in Houses who meet as a cross-section of all year groups).
Reading Blue Coat promotes wellbeing and happiness through its caring staff, excellent facilities and site, and exciting range of academic and co-curricular activities. Pastoral care, like all aspects of the School, is thoroughly informed by the core values of the School: aspiration, compassion, courage, integrity and service.
## **Premises, Infrastructure and Sustainability**
The School continues to maintain and improve the quality of its estate and facilities, whilst strategically developing longer term projects as part of the Estate Plan. The redevelopment of Way Hall and the Music Annexe into a new Performing Arts Centre commenced in July 2025 after nearly a decade of careful planning and preparation. The new facility is due to open in Spring 2027. The School is also seeking to become more sustainable by reducing its carbon footprint. The School has undertaken the following development projects during the reporting period:
- Refurbishment of the staff common room and WCs
- Replacement of kitchen water heaters
- New roof for the School café and cleaners’ cupboard
- Roofing works to School House
- Upgrades to internal & external drainage in School House
- Installation of temporary Performing Arts facilities
- Relocation of Lost Property
Investment continues to be made in refurbishing existing areas within the School.
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## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Fundraising performance**
During this year the Foundation Office has continued to engage with the community in order to raise funds in support of the Charity. The School’s fundraising campaign, ‘Defined by Vision, United by Ambition’, has been running since March 2022 and is aiming to raise £4,000,000 by 2032, thus doubling the School’s endowment which supports Foundation Scholars at the School. The School also has a legacy giving society (The Richard Aldworth Society) where the total number of known gifts pledged is in the region of £2,000,000. This year the School received two previously unknown gifts, in addition to the known legacies from the Richard Aldworth Society members.
For the year, donations totalled £738,049 (2024: £348,095), including unrestricted funds of £532,538. Funds were received in the year of £4,835 for the restoration of the Schools War Memorial and restricted funds for the provision of Foundation Awards of £205,511 (2024: £238,476). Of this, £135,000 (2024: £149,000) was received from Reading Blue Coat and Archbishop Laud Charitable Trust to fund means-tested bursaries to students. There is no change to how fundraising activities for the School are conducted. These are currently only conducted by School staff and all fundraising activities are managed by the Foundation Director with overall management by the Headmaster and oversight by the Governing Body. The Foundation Office continues to focus on developing a voluntary fundraising programme for the School in line with its charitable aims of managing a school for boys and girls under the age of 25.
No complaints have been received relating to fundraising activities by the School during this reporting period. The School has a complaints procedure in place should any complaints arise from our fundraising activity. The School is registered with the Fundraising Regulator and its logo is displayed on the School website. The School continues to comply with the Code of Fundraising Practice published by the Fundraising Regulator and its own Fundraising Policy which is reviewed annually. The School continues to be a member of the Institute of Development Professionals in Education (IDPE).
The School upholds appropriate standards for the operation and management of its fundraising activities. We continue to ensure vulnerable people and other member of the School’s community are protected and that no fundraising activity results in a member of the community being coerced into giving a gift against their will.
## **Equal Opportunities**
The School welcomes students from all backgrounds. To admit a prospective student, the School needs to be satisfied that it will be able to educate and develop a prospective student to the best of their potential. An individual’s economic status, gender, race, sexuality, religion or disability do not form part of our assessment process.
The School is an equal opportunities employer, and this is laid out in the Staff Handbook. Full and fair consideration is given to job applications from candidates of all backgrounds whatever their economic status, gender, race, sexuality, religion or disability. Due consideration is given to the training and employment needs of all staff who work at the School. The School will make reasonable adjustments to meet the needs of students or staff who are or who become disabled.
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## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Employee Engagement**
The Governing Body is kept fully informed of any employee concerns through regular formal and informal briefings from the Headmaster and Bursar. The Governors are committed to promoting a positive and healthy environment for all staff at the School for both their physical and mental wellbeing. The Governors promote inclusion in the workplace and provide resources for training and development opportunities for all staff. The Governors encourage recruitment and development strategies which seek to attract and retain talented staff.
At intervals through the year, usually immediately prior to the start of a term, Professional Development Days are held during which briefings and staff training takes place. Elements of these days will apply to the whole school staff, both academic and operational, with other periods being applicable to specific roles, functions or training requirements. Training on these days will often include training on safeguarding, data protection, and health and safety, as well as briefings on the School’s development and strategy.
## **PUBLIC BENEFIT**
The Reading Blue Coat School Governors, as charity trustees, have complied with their duty in s.17(5) of the Charities Act 2011 to have due regard to the Charity Commission’s published general guidance concerning the operation of the public benefit requirement under that Act. A summary of the public benefit offered is as follows:
## _**Principal activities**_
The School’s principal activity is to provide a high quality education to students aged 11 – 18. During the course of the academic year there were an average of 824 students in the School. The School continues to have a strong number of applications for the places on offer.
_**Means Tested financial support for students:**_ A total of £738,475 (2024: £774,950) was spent on meanstested support which was 4.4% of the School’s gross fee income. Assistance was provided in the form of 29 bursaries and 14 Foundation Awards, i.e. a total of 43(5%) of the students received some support. Foundation Awards cover 100% of school fees and also provide assistance with additional costs. The School receives a grant from the Reading Blue Coat and Archbishop Laud Charitable Trust in order to support the provision of Foundation Scholarships.
## _**Service to the Community and use of the School facilities by the Community:**_
The School is proud of its historic links with the town of Reading and the Ancient Parish of Sonning, as well as its more recent links with the Borough of Wokingham, and strives to build on and strengthen those links, so as to be recognised as an important member of the local community.
The Aldworth Partnership is the umbrella term for student led outreach work by the School in the local area and local community. This includes working with and in the local community as well as opening up the School’s facilities (often including access to our Staff) as well as fundraising for local charities. Much of the Aldworth Partnership activity is led by our Aldworth Partnership Prefects (Year 12 students) and is overseen by our Director of Aldworth Partnership (staff). The Aldworth Partnership is a key part of School life and is directly linked to one of the School’s core values of Service. Throughout the School’s long history, Reading Blue Coat students have been encouraged to participate in serving others, particularly those in the local community and we are proud to continue with this vital and wide-ranging work today.
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## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
The activities of the Aldworth Partnership for local service in the last year has included:
1. Opening up the School’s Futures Convention to 350 students from The Piggott School and Waingels College, providing access to more than 25 Universities, and 10 employers/apprenticeship providers.
2. Providing Oxbridge interview practice in partnership with The Piggott School.
3. Weekly visits to Highwood Primary School, Thameside Primary School and Willow Bank Infants School. RBC Sixth Form students work with students on activities ranging from focused playground activities, reading and singing.
4. Eleven RBC staff are Governors at local state schools
5. Four local state primary schools use RBC’s swimming pool free of charge in order to deliver their swimming and water safety lessons.
6. RBC loans its fleet of minibuses to primary schools and community organisations. Examples include Highwood Primary School, Crazies Hill Primary School, the Boys Brigade and Scouts.
7. Partnering with Berkshire Women’s Aid (BWA), RBC staff and students recycled beauty advent calendar by filling them with new toiletries and cosmetics which were donated by the School community. The boxes were distributed by BWA to women in need at Christmas.
8. RBC hosted two local state primary schools for Science, DT and Adventure Education sessions, and a third local primary School attended a Science Day at the School.
9. Students from Highwood Primary School enjoyed an activity course at the School. This was in lieu of a residential Activities Week for 20 students who were unable to join the rest of their year group on the trip.
10. The Geology department has created a box of teaching resources and a scheme of work (six lessons) for use by primary schools. The resources are regularly loaned out to primary schools in the local area. Peppard Primary School visited RBC for a Geology lesson in June and this provision can be offered to other schools.
11. RBC is involved with a number of appeals that benefit the local community. These appeals have been chosen by students and staff at RBC school. These include:
- Harvest Festival food donations for Woodley Food Bank and New Beginnings (Reading)
- Christmas jumper day raising money for Daisy’s Dream – a bereavement charity supporting children and young people.
- Easter Egg appeal for the Cowshed in Wokingham - a charity providing support for people of all backgrounds.
- A Christmas Toy and Gift collection for Reading Family Aid – a local charity supporting disadvantaged families with children.
- A football boot appeal for Reading Community Trust – the charity arm of the local football club who promote social inclusion and sports participation for young people.
- Easter fayre organised by students with profits going to the Thumbs Up Club – a full day holiday club based at Addington School for children with special needs.
RBC students in Year 12 are involved in a range of service activities in June. This year they erected and painted a perimeter fence at Highwood Primary School under the supervision of RBC maintenance staff. They also helped to refurbish the outdoor classroom area at Thameside Primary School. Next year we will also be working with Rivermead Primary School to improve their Key Stage 1 outdoor space.
Students in Year 9 and 10 produce products in the Design Technology workshops during activity lessons that benefit local primary schools. These have included wooden book boxes and an outdoor music station for Thameside Primary. Water play equipment was made for Willow Bank infants School.
Students also volunteer their own time to make products that can be sold by charities. These have included bird boxes and bird feeders for the Herbie Hedgehog Centre as well as craft products and Christmas decorations for Berkshire Women's Aid.
The English department at RBCS redistributed 30 boxes of fiction and non-fiction texts to local primary schools and schools in Africa.
Page 12
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
Working with Thomas Franks on their Feeding Communities program, students and staff used the school kitchens to prepare and package 300 meals to be distributed to free meal centres and community cafes. Some of the meals were delivered immediately to The Minster Church in Reading for the Soup Run organised by the Christian Faith charity.
## **Contribution to the national and local economy**
The School evaluates its economic impact using the ISC Economic Impact tool. It is estimated that:
- The School contributed £29m to national GDP, of which £16m is within the Local Authority Area (0.18% of local GDP)
- The School supports 489 jobs nationally, of which 250 are in the Local Authority Areas (0.25% of local jobs)
- The total amount of UK tax supported by School's activities is £8m, and the School generated savings for the UK tax payer of £6m as a result of attendance by students who could otherwise take up a free state school place.
Page 13
## **READING BLUE COAT SCHOOL (A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **FINANCIAL REVIEW AND RESULTS FOR THE YEAR**
## _**Financial Results**_
The financial results for the year are shown in the statement of financial activities on page 21 which shows a net surplus of £1,348,866 (2024: deficit of (£42,148)). Included within the result is a pre-gift aid surplus of £132,963 (2024: £71,241) attributable to the School’s wholly owned trading subsidiary, Reading Blue Coat School (Trading) Limited.
The level of surplus for the year generated in the unrestricted funds was £1,375,266 (2024: deficit of £(15,748)). The unrestricted reserves carried forwards will be used to manage the short-term turbulence caused by the imposition of VAT on Independent School fees, and finance future capital expenditure on the Performing Arts Centre. In the opinion of the Governors the market value of the land and buildings of the School is not less than the book value in the accounts.
## _**Reserves**_
The School’s funds are held to maintain the leasehold property and to cover normal fluctuations in working capital. The School’s assets are sufficient to meet its known and ongoing obligations. The School aims to maintain the following:
- Sufficient cash reserves to cover the working capital requirements of the School.
- Further implementation of the campus development strategy taking into account the requirements of extending co-education across all year groups.
- At the end of the reporting period the Group holds total funds of £21,153,235 (2024: £19,804,369).
- At the end of the reporting period the Group holds gross cash totalling £5,121,289 (2024: £5,774,654) and net cash (after bank and other loans) totalling £5,121,289 (2024: £5,774,654).
- The amount of funds which are restricted and not available for general purposes of the Charity at the end of the reporting period were £2,701,293 (2024: £2,727,693).
- At the end of the reporting period there were designated funds of £2,774,451 (2024: £2,260,690). This includes the Development Capital Expenditure Fund which was introduced in prior years in order to fund the School’s Estate Plan.
- At the end of the reporting period the following funds/amounts can only be realised by disposing of tangible fixed assets or programme related investments:
- Tangible fixed assets £20,290,596 (2024: £20,782,947).
- After making allowance for any restricted funds, designations, commitments (not provided for as a liability in the accounts) and the carrying amount of functional assets which the School needs to deliver its objects, there are no free reserves.
- At the end of the reporting period a comparison of the amount of reserves held with the Charity’s reserves policy was made.
Page 14
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **RISK MANAGEMENT**
## _**Process**_
The Governing Body is responsible for ensuring that the risks faced by the Charity are properly assessed. It is aware of the importance of protecting the business as far as possible from operational and reputational damage, as well as from the risks of unpredictable crisis and disaster. Risks are examined each year when updating the Risk Register and in the process of strategic planning. The key controls used by the School to manage risk include:
- Preparation and periodic review of the Risk Register.
- Formal agendas and minutes to support decisions on all Committee and Governing Body activities.
- Comprehensive strategic planning, budgeting, and management accounting.
- Established organisational and governance structure and lines of reporting.
- Formal written policies.
- Vetting procedures as required by law for the protection of vulnerable people.
- Clear hierarchical authorisation and approval levels.
The above structure formalises the risk management processes established for the Charity. Through these processes, the Governors identify the major risks to which the Charity is exposed and review the systems and procedures established to manage them. Nevertheless, it is recognised that such systems can provide only reasonable but not absolute assurance that major risks have been adequately addressed and can be managed.
## _**Principal Risks and Uncertainties**_
The Governing Body continue to keep the School’s activities under review, particularly with regard to any major risks that may arise from time to time. The risks that the Governors identify are reviewed, and systems or procedures are put in place to manage those risks. The Governors’ risk management policy is focussed on the following areas:
- Ensuring an appropriate governance structure is in place for the School.
- The School has adequate and appropriate facilities and operational infrastructure in order to support academic, co-curricular and pastoral objectives.
- To safeguard the wellbeing of all students.
- Compliance with all relevant legislation and regulations, including Health and Safety.
- Educational standards are maintained at a high level.
- The School’s finances are managed in order to maintain long term viability.
- External threats to the activities, operations and finances of the School are identified and mitigated where possible.
The Governing Body has invested significant time and effort during the year to manage the impact of VAT on School fees on both the School and parents, whilst committing to undertake a major capital project to build a new Performing Arts Centre. The School is working hard to control cost in the face of financial headwinds, as well as identify new ways to generate additional income through commercial activities and fundraising. The Strategic risk register reflects the very challenging operating environment currently faced by Independent Schools, but the Governors believe Reading Blue Coat is in a strong position.
The Senior Leadership Team and Governing Body is working to ensure that academic results are not only maintained but improved, especially at A Level.
Page 15
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **FUTURE PLANS**
The School’s strategic objectives out to 2027 are focused on the following areas:
1. Delivering strong academic outcomes for students, with excellent academic enrichment and a strong Futures programme.
2. Building on the breadth and excellence of the co-curricular provision.
3. Embedding a digital culture in the School.
4. Focusing on a culture where inclusion is the norm, diversity is celebrated and everyone belongs.
5. Providing personalised pastoral care and ensuring student wellbeing is at the heart of decision making.
6. Strengthening the School’s partnership work in and with the local community, and engaging with the Blue Coat community to widen access through Fundraising.
7. Developing the Estate, with a new Performing Arts Centre as the first priority.
8. Embedding co-education throughout the School.
9. Operate on a sustainable basis; environmentally, socially and economically.
10. Attracting, developing and retaining the best staff to ensure the School remains an employer of choice.
This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Governing Body of the Reading Blue Coat School on 8 December 2025 including in their capacity as company directors approving the Strategic Report contained therein, and is signed as authorised on its behalf by:
## **H Williams**
(Chair of Trustees)
Date: 8 December 2025
Page 16
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF READING BLUE COAT SCHOOL**
## **Opinion**
We have audited the financial statements of Reading Blue Coat School (the 'parent charitable company') and its subsidiary (the 'group') for the year ended 31 August 2025 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated 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 Group's and of the parent charitable company's affairs as at 31 August 2025 and of the Group's 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 Group 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 Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this report.
Page 17
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF READING BLUE COAT SCHOOL (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 us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Governors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
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 Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Page 18
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF READING BLUE COAT SCHOOL (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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the Group and charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, together with the Charities SORP (FRS 102) and the Charities Act. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the Group and charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the Group and charitable company for fraud. The laws and regulations we considered in this context for the School were The Education (Independent School Standards) Regulations 2014, Safeguarding regulations, Health & Safety legislation, General Data Protection Regulations and Food Hygiene Standards. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Governors and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance and General Purposes Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.
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.
Page 19
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF READING BLUE COAT SCHOOL (CONTINUED)**
## **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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Janette Joyce (Senior statutory auditor)**
for and on behalf of **Crowe U.K. LLP** Statutory Auditor R+ Building 2 Blagrave Street Reading Berkshire RG1 1AZ
Date: 12 December 2025
Page 20
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025**
|**Note**
**Income from:**
Donations and legacies
4
Charitable activities:
School fees
5
Ancilliary trading income
6
Other trading activities:
Non-ancilliary trading income
7
Trading income
Bank interest received
**Total income**
**Expenditure on:**
Raising funds:
Trading expenditure
Financing and other costs
8
Charitable activities
9
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**532,538**
**15,876,630**
**2,497,859**
**3,630**
**132,204**
**196,863**
**19,239,724**
**(17,872)**
**14,507**
**17,867,823**
**17,864,458**
**1,375,266**
**17,076,676**
**1,375,266**
**18,451,942**|**Restricted**
**funds**
**2025**
**£**
**205,511**
**-**
**-**
**-**
**-**
**-**
**205,511**
**-**
**-**
**231,911**
**231,911**
**(26,400)**
**2,727,693**
**(26,400)**
**2,701,293**|**Total**
**funds**
**2025**
**£**
**738,049**
**15,876,630**
**2,497,859**
**3,630**
**132,204**
**196,863**
**19,445,235**
**(17,872)**
**14,507**
**18,099,734**
**18,096,369**
**1,348,866**
**19,804,369**
**1,348,866**
**21,153,235**|_Total_
_funds_
_2024_
_£_
_348,095_
_14,787,884_
_2,293,495_
_10,348_
_148,705_
_109,406_
_17,697,933_
_61,084_
_45,609_
_17,633,388_
_17,740,081_
_(42,148)_
_19,846,517_
_(42,148)_
_19,804,369_|
|---|---|---|---|---|
Page 21
## **READING BLUE COAT SCHOOL (A company limited by guarantee) REGISTERED NUMBER: 04243510**
## **CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2025**
|**Note**
**Fixed assets**
Tangible assets
13
**Current assets**
Debtors
15
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
17
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
20
Unrestricted funds
Designated funds
20
General funds
20
Total unrestricted funds
20
**Total funds**|**2,137,693**
**5,121,289**
**7,258,982**
**(5,588,517)**
**2,774,451**
**15,677,491**|**2025**
**£**
**20,290,596**
**20,290,596**
**1,670,465**
**21,961,061**
**(807,826)**
**21,153,235**
**21,153,235**
**2,701,293**
**18,451,942**
**21,153,235**|_408,152_
_5,774,654_
_6,182,806_
_(5,465,425)_
_2,260,690_
_14,815,986_|_2024_
_£_
_20,782,947_
_20,782,947_
_717,381_
_21,500,328_
_(1,695,959)_
_19,804,369_
_19,804,369_
_2,727,693_
_17,076,676_
_19,804,369_|
|---|---|---|---|---|
Page 22
# **READING BLUE COAT SCHOOL**
**(A company limited by guarantee) REGISTERED NUMBER: 04243510**
# **CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025**
The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Governors and signed on their behalf by:
## **H Williams**
(Chair of Governors)
Date: 8 December 2025
The notes on pages 27 to 52 form part of these financial statements.
Page 23
## **READING BLUE COAT SCHOOL (A company limited by guarantee) REGISTERED NUMBER: 04243510**
## **COMPANY BALANCE SHEET AS AT 31 AUGUST 2025**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
14
**Current assets**
Debtors
15
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
17
**Total net assets**
**Charity funds**
Restricted funds
20
Unrestricted funds
Designated funds
20
General funds
20
Total unrestricted funds
20
**Total funds**|**2,097,978**
**5,022,162**
**7,120,140**
**(5,582,636)**
**2,774,451**
**15,544,532**|**2025**
**£**
**20,290,596**
**2**
**20,290,598**
**1,537,504**
**21,828,102**
**(807,826)**
**21,020,276**
**2,701,293**
**18,318,983**
**21,020,276**|_373,614_
_5,681,592_
_6,055,206_
_(5,409,068)_
_2,260,690_
_14,744,745_|_2024_
_£_
_20,782,947_
_2_
_20,782,949_
_646,138_
_21,429,087_
_(1,695,959)_
_19,733,128_
_2,727,693_
_17,005,435_
_19,733,128_|
|---|---|---|---|---|
Page 24
**READING BLUE COAT SCHOOL (A company limited by guarantee) REGISTERED NUMBER: 04243510**
# **COMPANY BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025**
The Company's net movement in funds for the year was _£_ 1,287,148 _(2024 - £10,089)_ .
The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Governors and signed on their behalf by:
**H Williams**
(Chair of Governors)
Date: 8 December 2025
The notes on pages 27 to 52 form part of these financial statements.
Page 25
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025**
|**Note**
**Cash flows from operating activities**
Net cash used in operating activities
22
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
Repayments of borrowing
Interest paid
Advanced fees received
Discounts allocated
Advanced fees allocated
**Net cash (used in)/provided by 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**
**£**
**2,386,347**
**196,863**
**(1,386,703)**
**(1,189,840)**
**-**
**-**
**-**
**35,000**
**(1,884,872)**
**(1,849,872)**
**(653,365)**
**5,774,654**
**5,121,289**|_2024_
_£_
_717,639_
_109,406_
_(878,415)_
**(769,009)**
_(875,000)_
_(12,066)_
_3,560,928_
_3,851_
_(341,121)_
**2,336,592**
**2,285,222**
_3,489,432_
_5,774,654_|
|---|---|---|
The notes on pages 27 to 52 form part of these financial statements
Page 26
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **1. General information**
The School’s principal activity in the year under review was the advancement of education by carrying on or managing schools for boys and girls under the age of 19 years. The incorporated charity (registered number 04243510 and charity number 1087839), is incorporated and domiciled in the UK. The address of the registered office is: Holme Park, Sonning-on-Thames, Reading, RG4 6SU.
## **2. Accounting policies**
## **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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Reading Blue Coat School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements. The surplus of income and expenditure for the charity (excluding Trading) for the year was £1,287,148 _(2024: £10,089)_ .
## **2.2 Going concern**
A budget for the year ending 31 August 2026, including cash flow projections, has been prepared on a consolidated basis for the School and the Trading Company. This budget, and the accompanying assumptions on which it is based, were agreed by the Full Board of Governors at the meeting on 16 June 2025. The Board reviewed the School’s strategic plan alongside detailed financial scenarios, and a range of sensitivities, for the next ten years at the Finance & General Purposes Committee in May 2025 and then as a Full Board at the Strategy Day in June 2025.
Significant care was taken to ensure the School has considered all risks posed by the current uncertain operating environment and is taking the required steps to monitor financial performance and pupil numbers. Governors carefully reviewed the underlying assumptions on which forecasts were based, and conducted stress testing of these assumptions, paying particular consideration to the capital commitments to the Performing Arts Centre project.
Accordingly, the Governors agree that both the School and the Trading Company have sufficient financial resources, and contingency planning is adequate to ensure the ability of both entities to continue as a going concern for the foreseeable future. The Governors consider this to be at least twelve months from the date of approval of the financial statements and have therefore prepared the financial statements on a going concern basis.
Page 27
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **Fees receivable and similar income**
Fees receivable and similar income are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships, bursaries and other remissions granted by the School.
## **Donations policy**
Voluntary incoming resources are accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable.
Voluntary income for the School’s general purposes is accounted for as unrestricted and is credited to the General Fund. Where the donor or an appeal has imposed trust law regulations, voluntary income is credited to the relevant restricted fund. Gifts in kind are valued at estimated open market value at the date of gift, in the case of assets for retention or consumption, or at the value to the School in the case of donated services or facilities
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **2.4 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.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 28
**READING BLUE COAT SCHOOL**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.6 Taxation**
The Company 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 Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 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.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
|Leasehold land and buildings|- 125 years|
|---|---|
|New buildings (including|- 40 years|
|mechanical and electrical||
|fittings)||
|Improvement to existing|- 20 years|
|buildings||
|Plant, machinery and equipment- 5 years||
|Motor vehicles|- 5 years|
|Furniture and equipment|- 5 years|
|Computer equipment|- 3 years|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated statement of financial activities.
## **2.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
Page 29
**READING BLUE COAT SCHOOL**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 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.
## **2.11 Liabilities and provisions**
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 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.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.
## **2.12 Fees in Advance scheme creditors**
Amounts received under the School’s Advance Fee Scheme contracts for education not yet used to settle school fees are recorded as deferred income and allocated as current liabilities where the education will be provided within 12 months from the reporting date and as long-term liabilities where the education will be provided in subsequent years.
## **2.13 Pupil deposits**
Under normal circumstances pupil deposits will be repaid over future years when the pupils complete their education at the School, pupils can leave at earlier dates. The School does not therefore have an unconditional right to retain the individual deposits for at least 12 months after the balance sheet date and, in line with the requirements in FRS 102, the balance of the deposits held at 31 August have been included within current liabilities.
## **2.14 Financial instruments**
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 30
**READING BLUE COAT SCHOOL**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.15 Operating leases**
Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight-line basis over the lease term.
Assets obtained under finance leases are capitalised within the balance sheet and are depreciated over their useful economic lives. The interest element of the lease is normally charged to the statement of financial activities account over the lease period. The capital element of the future payments is treated as a liability.
## **2.16 Pensions**
The School contributes to the Teachers’ Pension Defined Benefits Scheme at rates set out by the Scheme Actuary and advised to the Board by the Scheme Administrator. The scheme is a multiemployer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the School. In accordance with FRS102 therefore, the scheme is accounted for as a defined contribution scheme.
The School also operates defined contribution group personal pension scheme for teaching and nonteaching staff. This includes an auto enrolment arrangement. Contributions to the schemes are charged in the SOFA as they become payable, in accordance with the rules of the schemes.
## **2.17 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group 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.
Investment income, gains and losses are allocated to the appropriate fund.
Page 31
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **3. Critical accounting estimates and areas of judgment**
In the application of the Charity’s accounting policies, which are described in note 2, Trustees are 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 considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.
The Trustees consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.
## **4. Income from donations and legacies**
|**Unrestricted**
**funds**
**2025**
**£**
Donations
532,538
_Unrestricted_
_funds_
_2024_
_£_
Donations
_109,619_
**5.**
**School fees**
Gross fees
Less: Discounts
Scholarships and bursaries|**Restricted**
**funds**
**2025**
**£**
205,511
_Restricted_
_funds_
_2024_
_£_
_238,476_
**2025**
**£**
**16,847,044**
**(161,049)**
**(809,365)**
**15,876,630**|**Total**
**funds**
**2025**
**£**
**738,049**
_Total_
_funds_
_2024_
_£_
_348,095_
_2024_
_£_
_15,821,554_
_(185,233)_
_(848,437)_
_14,787,884_|
|---|---|---|
All school fees are unrestricted in both years.
Page 32
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **6. Ancilliary trading income**
|School trips and activities
School lunches
Registration fees
Exam fees
Pupil recharges
School transport
Miscellaneous|**2025**
**£**
**598,951**
**707,339**
**59,396**
**153,193**
**161,881**
**771,220**
**45,879**
**2,497,859**|_2024_
_£_
_561,836_
_649,322_
_54,200_
_131,573_
_138,610_
_712,068_
_45,886_|
|---|---|---|
|||_2,293,495_|
All ancilliary trading income is unrestricted in both years.
## **7. Non ancilliary trading income**
|Miscellaneous income|**2025**
**£**
**3,630**
**3,630**|_2024_
_£_
_10,348_|
|---|---|---|
|||_10,348_|
All non ancilliary trading income is unrestricted in both years.
## **8. Financing and other costs**
|Bank and loan interest
Other finance costs|**2025**
**£**
**-**
**14,507**
**14,507**|_2024_
_£_
_12,066_
_33,543_|
|---|---|---|
|||_45,609_|
All financing and other costs are unrestricted in both years.
Page 33
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **9. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2025**
**£**
Teaching
11,014,091
Welfare
1,405,908
Premises
3,133,616
Support
2,314,208
17,867,823
_Unrestricted_
_funds_
_2024_
_£_
Teaching
_10,267,602_
Welfare
_1,563,624_
Premises
_3,066,167_
Support
_2,471,119_
_17,368,512_|**Restricted**
**funds**
**2025**
**£**
231,911
-
-
-
231,911
_Restricted_
_funds_
_2024_
_£_
_264,876_
_-_
_-_
_-_
_264,876_|**Total**
**2025**
**£**
**11,246,002**
**1,405,908**
**3,133,616**
**2,314,208**|
|---|---|---|
|||**18,099,734**|
|||_Total_
_2024_
_£_
_10,532,478_
_1,563,624_
_3,066,167_
_2,471,119_|
|||_17,633,388_|
Page 34
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **9. Analysis of expenditure on charitable activities (continued)**
## **Summary by expenditure type**
|Teaching costs
Welfare costs
Premises costs
Support costs
Teaching costs
Welfare costs
Premises costs
Support costs|**Staff costs**
**2025**
**Depreciation**
**2025**
**£**
**£**
8,866,575
-
299,284
-
628,798
1,194,111
1,747,089
-
11,541,746
1,194,111
_Staff costs_
_2024_
_Depreciation_
_2024_
_£_
_£_
_8,284,910_
_-_
_288,008_
_-_
_577,298_
_1,150,292_
_1,599,909_
_-_
_10,750,125_
_1,150,292_|**Other costs**
**2025**
**£**
2,379,427
1,106,624
1,310,707
567,119
5,363,877
_Other costs_
_2024_
_£_
_2,247,568_
_1,275,616_
_1,338,577_
_871,210_
_5,732,971_|**Total**
**2025**
**£**
**11,246,002**
**1,405,908**
**3,133,616**
**2,314,208**|
|---|---|---|---|
||||**18,099,734**|
||||_Total_
_2024_
_£_
_10,532,478_
_1,563,624_
_3,066,167_
_2,471,119_|
||||_17,633,388_|
Included in support costs are governance costs of £26,810 _(2024: £26,950)._
## **10. Net income/(expenditure)**
|**Group**
Depreciation - on owned assets
Auditors remuneration - Audit
- Other services
Operating leases
Loss/(profit) on sale of fixed assets|**2025**
**£**
**1,194,111**
**23,810**
**22,425**
**202,963**
**9,229**
**1,452,538**|_2024_
_£_
_1,150,292_
_22,950_
_4,750_
_209,537_
_-_|
|---|---|---|
|||_1,387,529_|
Page 35
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **11. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2025**
**£**
**8,513,150**
**955,673**
**2,072,923**
**11,541,746**|_Group_
_2024_
_£_
_8,202,572_
_854,506_
_1,693,047_
_10,750,125_|**Company**
**2025**
**£**
**8,513,150**
**955,673**
**2,072,923**
**11,541,746**|_Company_
_2024_
_£_
_8,202,572_
_854,506_
_1,693,047_|
|---|---|---|---|---|
||||||
|||||_10,750,125_|
The average number of persons employed by the Company during the year was as follows:
|Teaching
Welfare
Premises
Support|**Group**
**2025**
**No.**
**107**
**17**
**16**
**86**
**226**|_Group_
_2024_
_No._
_102_
_17_
_15_
_82_|
|---|---|---|
||||
|||_216_|
The number of employees whose employee benefits (excluding employer pension costs and pre salary sacrifice amounts) exceeded £60,000 was:
||**Group**|_Group_|
|---|---|---|
||**2025**|_2024_|
||**No.**|_No._|
|In the band £60,001 - £70,000|**22**|_20_|
|In the band £70,001 - £80,000|**3**|_3_|
|In the band £80,001 - £90,000|**3**|_2_|
|In the band £90,001 - £100,000|**1**|_2_|
|In the band £120,001 - £130,000|**1**|_-_|
|In the band £200,001 - £210,000|**1**|_1_|
There were 19 _(2024: 25)_ higher paid employees in the Teachers Pension scheme and 12 _(2024: 3)_ employees in a Defined contribution scheme. The total contributions paid in the year for these staff members towards these schemes were £525,235 _(2024: £465,687)._
Key management personnel comprise the Governors (Directors) and the key management personnel listed on page 1. They received aggregate remuneration (including employer’s pension and employer’s national insurance) of £1,320,757 _(2024: £1,235,695)._
Page 36
## **READING BLUE COAT SCHOOL (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **12. Governors' remuneration and expenses**
During the year, no Governors received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 August 2025, no Governor expenses have been incurred _(2024 - £NIL)_ .
Page 37
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **13. Tangible fixed assets**
## **Group and Company**
|**Cost or valuation**
At 1 September 2024
Additions
Capital Goods Scheme adjustment
(VAT Asset)
Disposals
At 31 August 2025
**Depreciation**
At 1 September 2024
Charge for the year
On disposals
At 31 August 2025|**RBCS**
**buildings**
**£**
**18,041,043**
**-**
**(388,492)**
**(13,711)**
**17,638,840**
**5,897,602**
**445,593**
**(15,042)**
**6,328,153**|**Leasehold**
**land and**
**buildings**
**£**
**3,300,000**
**-**
**-**
**-**
**3,300,000**
**607,200**
**26,400**
**-**
**633,600**|**Improvements**
**to buildings**
**£**
**8,294,780**
**215,770**
**(359,314)**
**(622,074)**
**7,529,162**
**3,342,194**
**397,080**
**(620,242)**
**3,119,032**|**Plant,**
**machinery**
**and**
**equipment**
**£**
**3,782,038**
**217,494**
**-**
**(1,782,485)**
**2,217,047**
**3,263,237**
**255,229**
**(1,746,892)**
**1,771,574**|**Motor**
**vehicles**
**£**
**39,283**
**41,740**
**-**
**(9,846)**
**71,177**
**39,283**
**41,740**
**(9,846)**
**71,177**|**Furniture,**
**fixtures and**
**fittings**
**Assets**
**under**
**construction**
**£**
**£**
**566,703**
**402,234**
**4,314**
**1,006,357**
**-**
**-**
**(128,501)**
**-**
**442,516**
**1,408,591**
**493,618**
**-**
**28,069**
**-**
**(128,486)**
**-**
**393,201**
**-**|**Total**
**£**
**34,426,081**
**1,485,675**
**(747,806)**
**(2,556,617)**
**32,607,333**
**13,643,134**
**1,194,111**
**(2,520,508)**
**12,316,737**|
|---|---|---|---|---|---|---|---|
Page 38
## **READING BLUE COAT SCHOOL (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **13. Tangible fixed assets (continued)**
## **Group and Company (continued)**
**Plant, Leasehold machinery Furniture, Assets RBCS land and Improvements and Motor fixtures and under buildings buildings to buildings equipment vehicles fittings construction Total £ £ £ £ £ £ £ £ Net book value -** At 31 August 2025 **11,310,687 2,666,400 4,410,130 445,473 49,315 1,408,591 20,290,596** _- At 31 August 2024 12,143,441 2,692,800 4,952,586 518,801 73,085 402,234 20,782,947_
All assets are stated at cost except the leasehold land and buildings.
The above valuation of £3,300,000 for the School’s 125 year lease of its land and buildings was carried out by Dunster and Morton in March 2000. The historic cost is £1.98m.
Page 39
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **14. Fixed asset investments**
|**Company**
**Cost or valuation**
At 1 September 2024
At 31 August 2025
**Net book value**
At 31 August 2025
_At 31 August 2024_|**Investments**
**in**
**subsidiary**
**companies**
**£**
**2**|
|---|---|
||**2**|
||**2**|
||_2_|
## **Principal subsidiaries**
The following was a subsidiary undertaking of the Company:
|**Name**|**Company**|**Registered**|**Principal activity **|**Class of**|**Holding Included in**|
|---|---|---|---|---|---|
||**number**|**office or**||**shares**|**consolidation**|
|||**principal place**||||
|||**of business**||||
|Reading Blue Coat|4242660|Holme Park|Management of|Ordinary|100% Yes|
|School (Trading)||Sonning|the external|||
|Limited||Berkshire|lettings of the|||
|||RG4 6SU|School's facilities|||
The financial results of the subsidiary for the year were:
|**Name**|**Income**|**Expenditure**|**Profit/(Loss)**|**Net assets**|
|---|---|---|---|---|
||**£**|**£**|**/ Surplus/**|**£**|
||||**(Deficit) for**||
||||**the year**||
||||**£**||
|Reading Blue Coat School (Trading)|**132,204**|**(70,484)**|**61,720**|**132,963**|
|Limited|||||
Expenditure includes a management charge from the School of £17,117 _(2024: £16,380)_ and gift aid paid during the year of £71,241 _(2024: £123,478)_ , both of which are eliminated on consolidation.
Page 40
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **15. Debtors**
|**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
VAT asset|**Group**
**2025**
**£**
**818,253**
**-**
**132,121**
**439,513**
**747,806**
**2,137,693**|_Group_
_2024_
_£_
_155,120_
_-_
_33,411_
_219,621_
_-_
_408,152_|**Company**
**2025**
**£**
**738,039**
**40,499**
**132,121**
**439,513**
**747,806**
**2,097,978**|_Company_
_2024_
_£_
_108,255_
_12,327_
_33,411_
_219,621_
_-_
_373,614_|
|---|---|---|---|---|
The VAT asset relates to an allowable retrospective claim under the capital goods scheme on the introduction of VAT on school fees. An amount of £144,825 is receivable within one year.
## **16. Creditors: Amounts falling due within one year**
|Trade creditors
Fees in advance
Deposits repayable
Deferred income - Advanced fees (note 18)
Other taxation and social security
Other creditors
Accruals|**Group**
**2025**
**£**
**826,759**
**1,454,116**
**839,359**
**963,393**
**1,019,315**
**272,241**
**213,334**
**5,588,517**|_Group_
_2024_
_£_
_336,780_
_1,823,430_
_743,088_
_1,925,132_
_256,206_
_258,508_
_122,281_
_5,465,425_|**Company**
**2025**
**£**
**826,750**
**1,454,116**
**839,359**
**963,393**
**1,019,413**
**271,341**
**208,264**
**5,582,636**|_Company_
_2024_
_£_
_336,771_
_1,823,430_
_743,088_
_1,925,132_
_205,248_
_257,608_
_117,791_|
|---|---|---|---|---|
|||||_5,409,068_|
## **17. Creditors: Amounts falling due after more than one year**
|Deferred income - Advanced fees (note 18)
Other creditors|**Group**
**2025**
**£**
**804,105**
**3,721**
**807,826**|_Group_
_2024_
_£_
_1,692,238_
_3,721_
_1,695,959_|**Company**
**2025**
**£**
**804,105**
**3,721**
**807,826**|_Company_
_2024_
_£_
_1,692,238_
_3,721_|
|---|---|---|---|---|
|||||_1,695,959_|
Page 41
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **18. Deferred income - Advanced fees**
Parents may pay lump sums to the School as advance payment of future fees. Assuming pupils remain in the School, advance fees received will be applied as follows:
|Less than one year
Within 1 - 2 years
Within 2 - 5 years|**2025**
**£**
**963,393**
**435,136**
**368,969**
**1,767,498**|_2024_
_£_
_1,925,132_
_990,953_
_701,285_|
|---|---|---|
|||_3,617,370_|
The balance represents the accrued liability.
The movements in the year were:
|Balance at 1 September 2024
Receipts from contracts
Discounts allocated
Advance fees utilised|**2025**
**£**
**3,617,370**
**-**
**35,000**
**(1,884,872)**
**1,767,498**|_2024_
_£_
_393,712_
_3,560,928_
_3,851_
_(341,121)_|
|---|---|---|
|||_3,617,370_|
Page 42
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **19. Financial instruments**
|**Financial assets**
Financial assets measured at amortised costs
**Financial liabilities**
Financial liabilities measured at amortised
cost|**Group**
**2025**
**£**
**6,819,469**
**Group**
**2025**
**£**
**(3,174,729)**|_Group_
_2024_
_£_
_5,963,185_
_Group_
_2024_
_£_
_(1,720,481)_|**Company**
**2025**
**£**
**6,680,627**
**Company**
**2025**
**£**
**(3,168,848)**|_Company_
_2024_
_£_
_5,835,585_|
|---|---|---|---|---|
|||||_Company_
_2024_
_£_
_(1,664,124_|
Financial assets measured at fair value through income and expenditure comprise fees receivable, other debtors, prepayments and accrued income, amounts due from subsidiary and cash in hand.
Derivative financial instruments measured at fair value through income and expenditure comprise bank loans, trade creditors, deposits repayable, other creditors, accruals and net obligations under finance leases, less deferred income.
The Group’s income, expense, gains and losses in respect of financial instruments are summarised below:
||**Group**|_Group_|**Company**|_Company_|
|---|---|---|---|---|
||**2025**|_2024_|**2025**|_2024_|
||**£**|_£_|**£**|_£_|
|**Interest income and expense**|||||
|Total interest income for financial assets held|||||
|at amortised cost|**196,863**|_109,406_|**196,863**|_109,406_|
|Total interest expense for financial liabilities|||||
|held at amortised cost|**-**|_12,066_|**-**|_12,066_|
Page 43
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **20. Statement of funds**
**Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Charities Fund
Muir Prize Fund
Old Blues Fund
Roger Johnson Fund
Dr Fopp Public Speaking Fund
Staff Fund
Headmaster's Scholarship
Fund
Allotment Fund
Aldworth Partnership Fund
Other designated funds
Donated assets
Development Capital
Expenditure Fund
**General funds**
General Funds - School
Trading Company
**Total Unrestricted funds**|**Balance at 1**
**September**
**2024**
**£**
**-**
**200**
**13,798**
**504**
**5,580**
**363**
**800**
**113**
**8,166**
**666**
**-**
**2,230,500**
**2,260,690**
**14,744,745**
**71,241**
**14,815,986**
**17,076,676**|**Income**
**£**
**1,217**
**-**
**3,632**
**-**
**1,700**
**2,220**
**-**
**-**
**366**
**5,755**
**71,670**
**-**
**86,560**
**19,020,960**
**132,204**
**19,153,164**
**19,239,724**|**Expenditure**
**£**
**(2,659)**
**-**
**(3,494)**
**-**
**(200)**
**(2,220)**
**-**
**-**
**(2,258)**
**(4,540)**
**(71,670)**
**-**
**(87,041)**
**(17,706,933)**
**(70,484)**
**(17,777,417)**
**(17,864,458)**|**Transfers**
**in/out**
**£**
**1,442**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**512,800**
**514,242**
**(514,242)**
**-**
**(514,242)**
**-**|**Balance at**
**31 August**
**2025**
**£**
**-**
**200**
**13,936**
**504**
**7,080**
**363**
**800**
**113**
**6,274**
**1,881**
**-**
**2,743,300**|
|---|---|---|---|---|---|
||||||**2,774,451**|
||||||**15,544,530**
**132,961**|
||||||**15,677,491**|
||||||**18,451,942**|
Page 44
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **20. Statement of funds (continued)**
|**Restricted funds**
Arthur Newbury Prize
Embling Memorial Fund
Summer Ball Fund
Edwards Bequest
Melrose Prize
Ali Driver Sonning Grant
Helen Wells Donation
Hambling Donation
Wilkinson Donation
El Downey Donation to Chess
Club
Performing Arts Centre
Rowing Fund
Bursary Fund
Property Revaluation Surplus
Fund
**Total restricted funds**
**Total of funds**|**Balance at 1**
**September**
**2024**
**£**
**100**
**100**
**4,000**
**2,000**
**200**
**374**
**11**
**4,167**
**1,000**
**20**
**15,250**
**7,671**
**-**
**2,692,800**
**2,727,693**
**19,804,369**|**Income**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**205,511**
**-**
**205,511**
**19,445,235**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**(205,511)**
**(26,400)**
**(231,911)**
**(18,096,369)**|**Transfers**
**in/out**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Balance at**
**31 August**
**2025**
**£**
**100**
**100**
**4,000**
**2,000**
**200**
**374**
**11**
**4,167**
**1,000**
**20**
**15,250**
**7,671**
**-**
**2,666,400**|
|---|---|---|---|---|---|
||||||**2,701,293**|
||||||**21,153,235**|
Page 45
## **READING BLUE COAT SCHOOL**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **20. Statement of funds (continued)**
## **General Funds**
The School funds are held to maintain the leasehold properties and to cover normal fluctuations in working capital, future development costs and general reserves.
## **Designated funds**
Designated funds are in respect of donations received, which are set aside, at the discretion of the Governors for particular purposes.
The Development Capital Expenditure Fund, which is built up from the School’s reserves is intended to support investment in the School’s Estate.
## **Restricted Funds**
These are various donations given with a specific request that they be used for prizes or other specified purposes.
## **Bursary Fund**
This is a fund for donations given with a specific request that they are awarded as bursaries.
## **Property Revaluation Surplus Fund**
This has been set up to cover the net book value of the leasehold property.
Page 46
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **20. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Charities Fund
Muir Prize Fund
Old Blues Fund
Roger Johnson Fund
Dr Fopp Public Speaking Fund
Staff Fund
Headmaster's Scholarship
Fund
Allotment Fund
Aldworth Partnership Fund
Other designated funds
Development Capital
Expenditure Fund
**General funds**
General Funds - School
Trading Company
**Total Unrestricted funds**|_Balance at_
_1 September_
_2023_
_£_
_-_
_200_
_15,658_
_504_
_5,780_
_-_
_800_
_113_
_5,876_
_666_
_2,000,000_
_2,029,597_
_14,939,349_
_123,478_
_15,062,827_
_17,092,424_|_Income_
_£_
_3,890_
_-_
_3,525_
_-_
_-_
_2,196_
_-_
_-_
_4,584_
_-_
_-_
_14,195_
_17,296,557_
_148,705_
_17,445,262_
_17,459,457_|_Expenditure_
_£_
_(3,994)_
_-_
_(5,385)_
_-_
_(200)_
_(1,833)_
_-_
_-_
_(2,294)_
_-_
_-_
_(13,706)_
_(17,260,557)_
_(200,942)_
_(17,461,499)_
_(17,475,205)_|_Transfers_
_in/out_
_£_
_104_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_230,500_
_230,604_
_(230,604)_
_-_
_(230,604)_
_-_|_Balance at_
_31 August_
_2024_
_£_
_-_
_200_
_13,798_
_504_
_5,580_
_363_
_800_
_113_
_8,166_
_666_
_2,230,500_|
|---|---|---|---|---|---|
||||||_2,260,690_|
||||||_14,744,745_
_71,241_|
||||||_14,815,986_|
||||||_17,076,676_|
Page 47
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **20. Statement of funds (continued)**
|**Restricted funds**
Arthur Newbury Prize
Embling Memorial Fund
Summer Ball Fund
Edwards Bequest
Melrose Prize
Ali Driver Sonning Grant
Helen Wells Donation
Hambling Donation
WIlkinson Donation
El Downey Donation to Chess
Club
Performing Arts Centre
Rowing Fund
Bursary Fund
Revaluation reserve
**Total restricted funds**
**Total of funds**|_Balance at_
_1 September_
_2023_
_£_
_100_
_100_
_4,000_
_2,000_
_200_
_374_
_11_
_4,167_
_1,000_
_20_
_15,250_
_7,671_
_-_
_2,719,200_
_2,754,093_
_19,846,517_|_Income_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_238,476_
_-_
_238,476_
_17,697,933_|_Expenditure_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_(238,476)_
_(26,400)_
_(264,876)_
_(17,740,081)_|_Transfers_
_in/out_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_Balance at_
_31 August_
_2024_
_£_
_100_
_100_
_4,000_
_2,000_
_200_
_374_
_11_
_4,167_
_1,000_
_20_
_15,250_
_7,671_
_-_
_2,692,800_|
|---|---|---|---|---|---|
||||||_2,727,693_|
||||||_19,804,369_|
Page 48
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **21. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
17,624,196
Current assets
7,224,089
Creditors due within one year
(5,588,517)
Creditors due in more than one year
(807,826)
**Total**
18,451,942|**Restricted**
**funds**
**2025**
**£**
2,666,400
34,893
-
-
2,701,293|**Total**
**funds**
**2025**
**£**
**20,290,596**
**7,258,982**
**(5,588,517)**
**(807,826)**
**21,153,235**|
|---|---|---|
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_18,090,147_
_6,147,913_
_(5,465,425)_
_(1,695,959)_
_17,076,676_|_Restricted_
_funds_
_2024_
_£_
_2,692,800_
_34,893_
_-_
_-_
_2,727,693_|_Total_
_funds_
_2024_
_£_
_20,782,947_
_6,182,806_
_(5,465,425)_
_(1,695,959)_
_19,804,369_|
|---|---|---|---|
Page 49
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **22. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Dividends, interests and rents from investments
Loss on the sale of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Interest paid
Capital Goods Scheme (VAT Asset)
Non cash fixed asset adjustment
Adjustments for donated fixed assets
**Net cash provided by operating activities**
**23.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**|**Group**
**2025**
**£**
**1,348,866**
**1,194,111**
**(196,863)**
**9,229**
**(1,729,541)**
**1,084,831**
**-**
**747,806**
**27,300**
**(99,392)**
**2,386,347**
**Group**
**2025**
**£**
**5,121,289**
**5,121,289**|_Group_
_2024_
_£_
_(42,148)_
_1,150,292_
_(109,406)_
_-_
_17,200_
_(310,365)_
_12,066_
_-_
_-_
_-_
_717,639_
_Group_
_2024_
_£_
_5,774,654_
_5,774,654_|
|---|---|---|
Page 50
**(A company limited by guarantee)**
## **READING BLUE COAT SCHOOL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **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**
**£**
**5,774,654**
**(1,925,132)**
**(1,692,238)**
**2,157,284**|**Cash flows**
**At 31**
**August 2025**
**£**
**£**
**(653,365)**
**5,121,289**
**961,739**
**(963,393)**
**888,133**
**(804,105)**
**1,196,507**
**3,353,791**|
|---|---|---|
Debt due within one year and debt due after 1 year relates to the Advanced fees scheme.
## **25. Capital commitments**
At 31 August 2025 the School had capital commitments amounting to £6.5million in respect of the Performing Arts Centre _(2024: £Nil)_ .
## **26. Pension commitments**
There are two pension schemes available to eligible employees of the School, the Teachers’ Pension Scheme, and a Group personal pension scheme.
## **Teaching Staff – Defined Benefit Scheme**
The School is a member of the Teachers’ Pension Scheme (“the TPS”) for its teaching staff; as of 31 August 2024 the scheme closed to new joiners to the School, with hybrid pension arrangements in place, and therefore the School’s exposure to the scheme is limited. The pension charge for the year includes contributions payable to the TPS of £984,626 _(2024: £1,383,991)_ and at the year-end £108,197 _(2024: £172,735)_ was accrued in respect of contributions to this scheme.
The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.
The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.
Page 51
**READING BLUE COAT SCHOOL**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **26. Pension commitments (continued)**
Existing teachers who opt to leave the TPS will be able to elect to join the Aviva Pension Trust for Independent Schools (APTIS) scheme, Teachers who join the School after 31 August 2024 will be automatically enrolled into the APTIS scheme. Contributions totalling £704,507 (2024: £Nil) were payable to this scheme for the year.Contributions totalling £62,789 (2024: £Nil) were unpaid at the year end.
## **Non-Teaching Staff**
The company contributes on a money purchase basis to a Group personal pension scheme. Contributions totalling £383,790 _(2024: £309,056)_ were payable to this scheme for the year. Contributions totalling £32,857 _(2024: £32,981)_ were unpaid at the year end.
## **27. Operating lease commitments**
At 31 August 2025 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|**Land and buildings**
Not later than 1 year
Between one and two years
Between two and five years
Later than 5 years|**Land and**
**buildings**
**2025**
**£**
**78,297**
**94,800**
**248,200**
**5,986,600**
**6,407,897**|_Land and_
_buildings_
_2024_
_£_
_90,319_
_95,877_
_239,200_
_6,073,000_
_6,498,396_|**Other**
**2025**
**£**
**98,155**
**96,410**
**14,139**
**-**
**208,704**|_Other_
_2024_
_£_
_99,327_
_94,468_
_108,932_
_-_|
|---|---|---|---|---|
||||||
|||||_302,727_|
## **28. Related party transactions**
The intercompany transactions during the year with Reading Blue Coat School (Trading) Limited can be seen under Note 14. The year end balance owed by Reading Blue Coat School (Trading) Limited is £40,499 _(2024: £12,327)_ .
Mr A Colpus, one of the School Governors, provided consultancy services to the School amounting to £Nil _(2024: £120)_ , and at the year end there was no balance outstanding _(2024: £Nil)_ .
Page 52