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2025-08-31-accounts

Registered number: 04228443 Charity number: 1088480

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

GOVERNORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Governors and advisers 1 - 2
Governors' report 3 - 15
Independent auditor's report on the financial statements 16 - 19
Statement of financial activities 20
Balance sheet 21
Statement of cash flows 22
Notes to the financial statements 23 - 46

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025

Directors/Governors Br I LeBlanc SC, BS, Med, MPS (deceased 26 September 2025)
Mr S Watson BA, FCA (resigned 9 December 2024)1
N Lloyd (resigned 8 October 2024)
H Loveman (resigned 7 October 2024)
Br Ronald J. Hingle, SC, M Ed, BS
Mr O Adams, BA1
Br J Holthaus SC, MA1,2
Mrs BM Elliott MA (Cantab), PGCE2
Mr E van Dijk (appointed 26 September 2024, resigned 23 January 2026)1
Mr S Bryne BA(Open), MA, NPQH (appointed 8 October 2024)2
Ms EM Sharpe, PGCE, SENCo, MEd (appointed 26 September 2024)2
Mr D Keogh (appointed 26 September 2024)1
Mrs M Moroney (appointed 3 February 2025)1
Br R Hetu (appointed 5 December 2025)
1
Member of Finance and General Purposes Committee
2
Member of Education, Strategy and Policy Committee
Company registered
number
04228443
Charity registered
number
1088480
Registered office and
principal address
King Harry Lane
St Albans
Hertfordshire
AL3 4AW
Officers
Head of College – Mr K Guest MA
Bursar – Mrs RJ McHattie, BA (Hons), ACMA
Independent auditor
Crowe U.K. LLP
R+ Building
2 Blagrave Street
Reading
Berkshire
RG1 1AZ
Bankers
Barclays Bank
11 Bank Court
Marlowes
Hemel Hempstead
HP1 1BX
Solicitors
Stone King LLP
13 Queen Square
Bath
BA1 2HJ

Page 1

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS GOVERNORS AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Insurance Brokers

Marsh Commercial 3rd Floor Ashton House 499, Silbury Boulevard Milton Keynes MK9 2AH

Page 2

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Governors present their annual report together with the audited financial statements of the Charity for the year 1 September 2024 to 31 August 2025. The Annual report serves the purposes of both a Governors' report and a directors' report under company law. The Governors confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

REFERENCE AND ADMINISTRATIVE INFORMATION

Details of the Governors, executive officers and principal advisors at the time of signing, unless otherwise indicated, are shown on page 1.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational Management

The Members hold the reserved authority over appointing Board Members, disposals, constructions, loans, contracts and purchases planned or unbudgeted beyond prior limits set by the Members; questions affecting ethos and Catholicity of the College; and the appointment of Governors. The Governors appoint the auditor for the Charity; receive the accounts of the Charity for the previous financial year; receive notice of the retirement of Governors whose terms of office will have come to an end; reappoint Governors as applicable, and to discuss and determine any issues of policy or deal with any other business put before them.

The Governors are duly registered with Companies House as Directors of the Company and the Charity Commission. To discharge their duty, they meet as a Board at least three times each year. The work of implementing most of their policies is carried out by two committees which have agreed, and annually revised, Terms of Reference to assist their functionality. The committees are as follows: Finance and General Purposes Committee; Education Strategy and Policy Committee. Further subcommittees may be constituted as required. The operational management of the College is delegated to the Headmaster and Bursar, who together are supported by the College Leadership Team (CLT). The Headmaster and the Bursar are attendees at Governors’ meetings. Members of the CLT may attend Governors’ meetings by invitation.

Governing Documents

The governance structure of St Columba’s College and Preparatory School (the College) is set forth in its Memorandum and Articles of Association (2001, revised 2012) which define the duties and powers of the Members, Trustees and Governors. An Instrument of Government further defines the roles of Governors, the Headmaster, the Head of the Preparatory School, the Bursar, and the Dean. The Instrument affirms that the College is conducted as a Roman Catholic school, and it establishes policy governing the admission of pupils.

Recruitment, Induction and Training of Governors

Governors will normally serve a term of office no longer than nine years. A full induction programme is managed by the Clerk to the Board of Governors. Governors receive induction in respect of safeguarding; sources of revenue; property and asset holdings; Board Policies and Procedures. The Dean inducts new Governors with briefings on the mission and charism of the College. Governors are made aware of specialist training opportunities, including workshops and seminars, by the Clerk as appropriate. In addition to familiarisation with current Strategic and Financial Planning documentation, new information is cascaded to the full governing body at its regular meetings. The Board holds an annual away day at which strategic matters are discussed.

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Governance and Leadership

The Governors discharge their legal duties and responsibilities for the overall governance in accordance with the College Articles of Association, Instrument of Government and Terms of Reference documentation. Regular scheduled Board and sub-committee meetings are held, both in person and virtually. Alongside their committee responsibilities, Governors regularly visit departments within the College to meet with staff and see the College in operation. One Governor is appointed by the Members as Dean to the College and there are Governors nominated for Safeguarding and Health and Safety.

The educational leadership of the College is delegated to the Headmaster, who is supported by the College Leadership Team.

The Bursar, who serves as Company Secretary and Clerk to the Governors, is responsible for the overall leadership and management of the support functions of the College and reporting of the financial and property resources; she is supported by departmental managers.

Key Management Personnel Remuneration

The College’s key management personnel are named in note 11 of this report. Arrangements are in place for setting the remuneration for these personnel and the arrangements have due regard to benchmark information and market pay for these roles. This exercise, together with the overall remuneration of other personnel, forms part of the budget process and the Board’s annual salary review.

Relationships

The College advances its religious mission in cooperation with the Diocese of Westminster. It collaborates with other Catholic schools in both the independent and state sectors. The College supports the work of the Brothers of the Sacred Heart (Charity No. 1146264). It also collaborates with the Catholic Agency for Overseas Development (Charity No. 285776), to strengthen our students’ solidarity with the developing world and annually supports local charities.

The College actively supports the attainment of the highest standards in the independent schools’ sector through the membership of the following:

The Headmaster is a member of the:

The College is a member of the:

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

OBJECTS, AIMS AND OBJECTIVES

Principal activities

The Charity provides education in St Albans to young people from the age of 4 to 18. The College also runs summer schools for its own students. Public examination results were strong (see below) and 71% of students gained their first choice of university place.

This year, the College’s Senior School averaged 589 students (2024: 599) and the Preparatory School averaged 241 students (2024: 221) .

Charitable Objects

The object of the Charity Company, set forth in the Memorandum of Association, is to advance the Roman Catholic religion by the conduct of a Roman Catholic School or Schools.

Aims and Intended Impact

St. Columba’s College is a Catholic, independent, co-educational day school, established in the educational tradition of the Brothers of the Sacred Heart, for pupils from 4-18. St. Columba’s College is committed to promoting and realising Gospel values in an environment of academic endeavour and personal discipline. We work in partnership with students and parents and in accordance with the traditions of the Catholic Church and the charism of the Brothers of the Sacred Heart.

We seek to provide a Christian education in which each student is personally valued and challenged to pursue the highest standards in spiritual, moral, cultural, intellectual and physical development. We aim to share an experience of Christian community in which all grow in faith through worship and mutual support and by responding to the needs of the community at large. We expect each student to develop their own particular talents in pursuit of their God-given vocation.

'' Forming Young People of Faith, Hope and Love for the Future. "

This college community believes that every one of our students is uniquely equipped to make a profound contribution to society.

Our Aims

In order to meet each individual’s needs, the College aims to nurture young people who are: -

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

OBJECTS, AIMS AND OBJECTIVES (continued)

Our Offer

To achieve the above, we offer: -

Our Values

Our values are grounded in the charism of our founder, Andre Coindre. We believe education, in the spirit of this charism is holistic, rooted in religious values, structured through friendly discipline, nurtured by personal attention, and committed to academic excellence.

In January 2025 the College was inspected by the Catholic Schools Inspectorate and was rated “Outstanding”. Inspectors commented:

Objectives for the Year

In shaping our objectives for the financial year and planning our activities, the Governors have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public Benefit: Running a Charity’ (PB2).

Objectives for the 2024/25 school year were:

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

STRATEGIC REPORT

Risk Management

Governors are responsible for the governance management of the risks faced by the College. Detailed consideration of risk is delegated to the College Leadership Team. Risks are identified, and controls established throughout the year. A formal review of the Charity's risk management processes is undertaken on an annual basis. Through the risk management processes established for the College, Governors are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

The key controls used by the Charity include:

For the financial year ended 31st August 2025; the key risks identified were the continued financial pressure on our parent demographic and competition from local high-achieving maintained schools and academies who are funded by central government. The College is also aware of the risks posed to all independent sector schools by current political headwinds such as the potential loss of charitable status; the loss of business rates relief; and the imposition of VAT on school fees in the October 2024 budget. In addition to the above the local and national decline in the birth rate is beginning to impact schools and will have implications for future pupil numbers in all sectors.

BURSARY, SCHOLARSHIP AND FAMILY DISCOUNT PROVISION

Bursarial Provision

Whilst understanding that, as a business, the College aims to generate sufficient operating surpluses to be able to invest in its infrastructure, it is important that the education it offers is available to those whose parents are unable to afford the benefits of an independent education. Governors have given careful consideration to the Charity Commission’s general guidance on Public Benefit and in particular to its supplementary Public Benefit Guidance on advancing education and fee charging.

St Columba’s College provides public benefit by offering means-tested bursaries to students for whom independent education is beyond the family financial means. Alongside traditional bursary awards, in fulfilment of the Charity’s object to advance the Roman Catholic religion, Coindre Bursaries are offered to Catholic pupils who would not otherwise have access to the benefits of an independent Catholic education. All bursaries are meanstested on application, and annually, through the submission of a Confidential Statement of Financial Circumstances form and supporting documentation by parents or guardians. Qualifying candidates must meet the College’s standard entrance requirements for admission.

21 bursaries with a total value of £385,241 (2023/24 twenty-four awards totalling £428,720) were in place for the 2024/25 school year gifting a remission of fees from 50% to 100%.

Information about the bursary and the application process is available on the College’s website alongside the Coindre Bursary provision which is also publicised annually in Roman Catholic primary schools across Middlesex, North London and Hertfordshire.

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

STRATEGIC REPORT (continued)

The Charity also offers financial assistance to existing family households undergoing hardship; however, as the charity does not have a substantial endowment, financial assistance is means-tested to ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their children’s education, and the beneficiaries of financial aid.

Scholarships

The College awards scholarships to students who perform at a high academic, musical, dramatic or sporting level. The continuance of the scholarship award is dependent on the pupil maintaining a level of progression relevant to the award high standards of behaviour and maintaining the ethos of the College.

Family discount provision

To assist families who have more than one child in the school, the Charity offers a sibling discount of 3% for the second child, 4% for the third child and 5% for the fourth child enrolled at the College.

In 2024/25 a range of scholarships were linked to remission of fees with a total of £511,706 (2023/24: £499,811) being awarded in scholarships and sibling discounts.

OPERATIONAL PERFORMANCE OF THE SCHOOL

Prep School

The Prep School has enjoyed a busy and rewarding year. From September 2025 the Prep School will be fully coeducational and we are delighted to have appointed our first Head Pupil for the coming academic year.

The Prep Leadership Team reviews activities and events on a regular basis and repeated the hugely popular Columban Fest in May 2025 with over three hundred people attending for an afternoon of family fun. Parents and families are regularly invited into the school to encourage and maintain the family feel of the school. This frontfacing dialogue and engagement is very important to the parental body. We even had a staff versus parent football Charity match which will become an annual event.

The Prep Sport and Music offer continues to flourish with some ninety-nine sporting fixtures offered throughout this year including pre-season mini-tours local to the College. The number of Prep children performing in College music recitals is impressive.

Student Leadership opportunities are extensive, and children are given the opportunity to present or perform at one of two weekly Assemblies.

Transition to the Senior School is very high at just over 80% which echoes the value of the 4-18 education offer.

All children are encouraged to understand and support the charism and ethos of the College as well as the journey of the Brothers of the Sacred Heart.

The Forest School Area was completed during the year and provides a wealth of joy and opportunity to explore for our pupils and staff alike. Over the summer a number of classrooms were refurbished, and the Prep Playground will be renovated in the coming year.

There is a continued focus on promoting the wellbeing of children and staff including 'Feelgood Friday' and the Staff Book Club.

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

STRATEGIC REPORT (continued)

Senior School

2025 represented another outstanding year of public examination results for St Columba’s College.

16.8% of all GCSE entries achieved the highest grade of 9. This is more than three times higher than the national average for grade 9s (5.2%). Two students gained a perfect set of eleven grade 9s and nearly 40% of this cohort of students gained at least one grade 9. Moreover, 55% of all entries were rated at the top grades of 9-7 which maintains our strong record at this level and which betters the independent school average of 48.4%.Thirty-eight students (44%) had an average GCSE grade of 7 or higher across their suite of subjects. As in 2024, a full two thirds of the year group gained between seven and eleven GCSE grades at 9-6. Seventy-six students (87%) achieved at least one grade 7 or higher. In a year in which the College is celebrating a rating of ‘Outstanding’ in all categories of the Catholic Schools Inspectorate Report, special mention should go to GCSE Religious Studies in which 28% of the year group achieved a grade 9. Credit should be given to all involved in securing at least five grade 4 grades for every single Form 5 student. 100% of them achieved a minimum of two GCSEs in Science at grade 4 or higher.

These stellar achievements reflect the magnificent GCSE value-added scores that have been achieved as a result of the strong relationships built between our hardworking students and enthusiastic teaching staff. There is a positive residual in almost every GCSE subject with nine subjects adding on average, a full grade or more per student when compared to their Yellis prediction. No fewer than seventeen subjects added at least half a grade per student. The average value-added per subject was an impressive 84% of a grade.

The A Level results are, once again, impressive with a record A-A rate of 42.1%. Our top performer scored 3 A grades and an A grade. 71.5% of entries were awarded A-B, compared to the national average of 55.0%. A record twenty students gained at least three A grades (26%) and the median measure of performance based on A Level grades has increased to ABB. Students taking Religious Studies, Drama and Geography achieved a 100% A-B rate and fifteen subjects saw all entries scored at A*-C.

Charities & Public Benefit

Columban Fayre: In November, hundreds of current and former staff, students and their families come to the Fayre which has been part of College life for over sixty years and is a popular event in the St Albans calendar. Beneficiaries of the 2024-25 Fayre were:

Christmas Jumper Day: a wonderfully festive way to end the Michaelmas Term and raised £385 towards the Mission Appeal, which took place in Mount St Charles Academy Rhode Island in July 2025.

Foodbank Appeal: 2024-25 Foodbank Appeal collected for the Borehamwood Foodbank and the St Albans Community Pantry. It was led by Lower Sixth students who met with staff from both charities and presented the campaign to the school. Once again, over a tonne of food was donated as part of the Lenten Appeal.

Homeless Sleepout for Open Door: 2025 saw six staff, twenty Sixth Formers and over fifty students from Form 3 and Form 4 take part in this immersive experience raising £1,418 for Open Door, a St Albans homeless shelter.

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

STRATEGIC REPORT (continued)

CAFOD & The CAFOD Young Leaders Programme (CYL): St Columba’s College has raised more than £70,000 for CAFOD over the past eighteen years through a wide range of events, from bike rides to world record attempts. The College is a beacon school for their work. This year, as part of Public Benefit Outreach, the College hosted five schools at the first training day in October. CYL enables Sixth Form groups in the Diocese of Westminster to share ideas and fundraisers to promote social justice.

The Inter House Bake Off has become a famous school tradition. The CAFOD group introduced the new class of ‘Hope’ to celebrate the ‘Jubilee Year of Hope.’ Over 50 large cakes were entered along with numerous cupcakes making it one of the tastiest fundraisers of the year and raising £1,021.

St Albans Half Marathon: Some eighty students, staff, and parent volunteers helped with the distribution of medals at the two finishing lines of this event. Sixth Form students raised £500 for Project Respond 2025 by offering car-parking at the College.

Duke of Edinburgh Award Bronze and Gold Schemes: As part of the qualification, students undertake voluntary work in the local community, including working in care settings, charity shops and a variety of environmental projects. Over sixty-one students took part in the Bronze Award and twenty-nine Sixth Formers participated in the Gold award clocking up a minimum of 2,500 hours of volunteering with a significant impact in the local community.

Combined Cadet Force (Army and RAF): The Combined Cadet Force (CCF) continues to attract a considerable number of recruits, with one hundred student cadets on roll. The contingent led the Park Street Remembrance Day Parade in 2024 – parading there in memory of Old Columban Capt. James Phillipson who was killed in action.

For the second year running one senior member of the Army Section held the prestigious position of the Lord Lieutenant of Hertfordshire’s Cadet. This is a significant honour for the student, the Section and the College.

Skydiving for Ovarian Cancer and Movember: This charity project raised awareness about the two charities both in PSHE lessons and the invitation of guest speakers to address students and staff. Eight College staff participated in a number of tandem parachute-jumps in Wiltshire over the summer and raised a staggering £7,448.

International Trips

St Columba’s students first participated in the Student Mission Trip with other Brothers of the Sacred Heart Schools in 2022 and it is now established as an annual event. Two members of staff took five Form 5 students to meet students from nine schools from the Province of the United States of America. For the first time, this was both a student leadership conference and a mission service trip and was successful in forging connections with our American sister schools. Volunteering included work at a veterans’ ranch, the Brothers retirement home in Pascoag and a Community Harvest Farm.

The pinnacle of formation and service experience is the Project Respond trip to Zambia, which has been running since the 1990s. Thirty-one students and three staff committed three weeks of their summer holidays to work in Zambia. Students raised thousands of pounds throughout the year to fund their travel costs and to buy muchneeded supplies for the schools. The students were supported in their work in Zambia by generous donations of decorating supplies from Columban families.

Other School partnerships: Currently seven staff volunteer their time as Governors in state schools. The College has played host to local schools for Maths Challenges and sporting events. Our Sixth Form volunteers continue to work in the local special needs school, Watling View, and mainstream St Adrian’s Primary School.

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW

The College’s financial performance is set out in the Statement of Financial Activities on page 20.

During the financial year to 31st August 2025, the Company made a profit of £1,045,927 (2024: profit of £153,086). Overall cash in hand balances increased over the year by £454,744. The College invested in the estate, completed the two artificial pitches, seeded the lower grass pitch and refurbished classrooms in both Prep and Senior schools.

Income is derived largely from the charging of tuition fees and the College’s charitable status ensures that parents have the assurance that all income is reinvested in the College to improve its assets and facilities for the benefit of current and future pupils. The College continued to allocate significant resources to staffing to reflect the importance of recruitment and retention of high-calibre teaching and support staff.

Overall fee income has increased by 9.9% on last year; this reflects the corresponding increase in the College roll of 4.9%. When setting the fees, the Governors are mindful of the need to balance the quality of the educational services provided against the fees charged to parents for those services. The College considers a number of key performance indicators in relation to financial performance. These indicators allow the College to monitor performance of budgets and cashflow over time and in relation to the sector in general. As Governors, we consider the financial position in keeping with market conditions and are pleased with the results for the year.

Reserves policy

The Reserves Policy is to maintain financial resources sufficient to meet the College’s normal working capital requirements, as well as current and future bursary and capital expenditure obligations and plans. This policy is reviewed at least annually.

The reserves of the College are represented by the unrestricted and restricted funds as shown in note 20. The total funds held by the College at the end of the year were £14,527,148. Of these funds £245,173 was restricted and not available for general use. This leaves an unrestricted funds balance of £14,281,975 of which £11,119,608 represents the tangible fixed assets of the Charity and £84,865 have been designated. Available unrestricted reserves therefore amount to £3,077,502.

The Governors are delighted to report investment of substantial sums into College buildings as part of an ongoing programme of refurbishment, development and investment to maintain excellent teaching facilities for our students. The College has a rolling long-term maintenance plan, and Governors are confident that future capital expenditure requirements in this area can be met from funds generated from continuing operations.

The Governors are satisfied that ongoing capital expenditure can continue to be funded from annual operating surpluses and so consider that the existing levels of reserves are appropriate for the short and medium operational needs of the College. Additional reserves generated from ongoing operations will continue to be used to support the award of further bursaries and to finance continuing capital expenditure on improvements to the facilities, infrastructure and buildings on the College campus which will further improve the offer for our pupils and the wider community.

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Restricted and Designated Funds

There were six restricted funds held by the College during the year:

There were two designated fund held by the College during the year:

Investment policy

The College does not have an investment portfolio. Cash surpluses and advances are held by the College’s bankers in separate interest-bearing accounts as applicable.

Fundraising Statement

St Columba’s College is registered with the Fundraising Regulator (ID-165872) and follows its regulatory code of fundraising practice. The College raises funds principally from alumni, staff and current parents. The College is also fortunate and grateful to receive donations and occasional legacies from individuals, particularly from people who are part of, or have been part of, our Columban Network and wish to show their appreciation and support. St Columba’s College does not engage in large-scale fundraising activities such as mass mailings, telephone fundraising or door-to-door campaigns. St Columba’s College has not received any complaints about any aspect of its fundraising.

Page 12

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

FUTURE PLANS

Formation Goals

Academic Goals

Community Engagement

Resource Development

Page 13

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Br Ivy le Blanc

It is with deep sadness that we announce the passing of Brother Ivy Joseph LeBlanc, S.C., a devoted Brother of the Sacred Heart, Governor of St Columba’s College, educator, and servant leader, on Friday 26 September 2025. Brother Ivy dedicated his life to Catholic education, serving at schools across the U.S. and internationally, and leaving a lasting legacy of faith, leadership, and compassion. Our thoughts and prayers are with his Brothers, family, students, and friends.

Statement of Governors' responsibilities

The Governors (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Governors' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare financial statements for each financial year. Under company law, the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Governors are required to:

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

Disclosure of information to auditor

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

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Auditor

The auditor, Crowe U.K. LLP, has indicated his willingness to continue in office. The designated Governors will propose a motion reappointing the auditor at a meeting of the Governors.

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

Br Joseph Holthaus Dean and Trustee

Date:

Mrs RJ McHattie Company Secretary

Page 15

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

Opinion

We have audited the financial statements of St Columba's College & Preparatory School (the 'charity') for the year ended 31 August 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

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ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST COLUMBA'S COLLEGE & PREPARATORY 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:

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.

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:

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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 17

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST COLUMBA'S COLLEGE & PREPARATORY 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 design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the 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 taxation legislation, together with the Charities SORP (FRS 102) and Companies Act 2006. 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 College’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. 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 within the override of controls by management. Our audit procedures to respond to the risk of management override included enquiries of management 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, 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 noncompliance 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 noncompliance 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 18

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST COLUMBA'S COLLEGE & PREPARATORY 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.

Alastair Lyon (Senior statutory auditor)

for and on behalf of

Crowe U.K. LLP

Statutory Auditor R+ Building 2 Blagrave Street Reading Berkshire RG1 1AZ

Date: 30 March 2026

Page 19

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

Note
Income from:
Donations and legacies
5
Charitable activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
Gains on revaluation of investment
property
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
25,400
16,539,060
165,526
16,729,986
40,232
15,673,119
15,713,351
1,016,635
-
1,016,635
13,265,340
1,016,635
14,281,975		 Restricted
funds
2025
£
125,969
-
-
125,969
-
96,677
96,677
29,292
-
29,292
215,881
29,292
245,173		 Total
funds
2025
£
151,369
16,539,060
165,526
16,855,955
40,232
15,769,796
15,810,028
1,045,927
-
1,045,927
13,481,221
1,045,927
14,527,148		 Total
funds
2024
£
114,299
15,365,395
69,178
15,548,872
43,662
15,437,731
15,481,393
67,479
85,607
153,086
13,328,135
153,086
13,481,221

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 23 to 46 form part of these financial statements.

Page 20

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee) REGISTERED NUMBER: 04228443

BALANCE SHEET AS AT 31 AUGUST 2025

Note
Fixed assets
Tangible assets
13
Investment property
14
Current assets
Stocks
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
20
Total funds		 1,020
1,306,552
5,520,630
6,828,202
(5,041,466)		 2025
£
11,119,608
2,759,196
13,878,804
1,786,736
15,665,540
(1,138,392)
14,527,148
245,173
14,281,975
14,527,148		 1,488
280,674
5,065,886
5,348,048
(4,206,139)		 2024
£
11,532,134
2,750,000
14,282,134
1,141,909
15,424,043
(1,942,822)
13,481,221
215,881
13,265,340
13,481,221

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:

Br Joseph Holthaus

(Dean and Trustee) Date:

The notes on pages 23 to 46 form part of these financial statements.

Page 21

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Note
Cash flows from operating activities
Net cash generated from operating activities
23
Cash flows from investing activities
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Purchase of investment property additions
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Repayments of finance leases
Interest received
Fees on account
Receipts from payments on account
Net cash 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
24
The notes on pages 23 to 46 form part of these financial statements		 2025
£
663,562
-
(502,302)
(9,196)
(511,498)
-
-
165,526
137,154
302,680
454,744
5,065,886
5,520,630		 2024
£
900,848
12,000
(688,572)
(56,326)
(732,898)
(691)
(4,746)
69,178
3,036,377
3,100,118
3,268,068
1,797,818
5,065,886

Page 22

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. General information

St Columba’s College and Preparatory School is a private company limited by guarantee and incorporated in England and Wales. The registered office is King Harry Lane, St Albans, Hertfordshire, AL3 4AW.

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.

St Columba's College & Preparatory 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.

2.2 Going concern

After making enquiries, the Governors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Fees and similar income

Fees receivable and similar income are recognised in the period for which the service is provided. Fees are stated after deducting bursaries, scholarships, and other remissions granted by the College.

Grants and bursaries

Bursaries and allowances from unrestricted funds towards College fees are treated as a reduction in those fees. Bursaries funded from restricted funds are included as expenditure in the period in which the award is given or committed.

Donations policy

Donations received for the general purpose of the College are credited to “unrestricted funds”. Donations received for specific projects or activities are credited to “restricted funds”. All donations are accounted for when the Governors know with certainty that they will be received.

Investment income

Investment income is recognised on a receivable basis.

Page 23

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

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 Charity 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 Charity's objectives, as well as any associated support costs.

2.5 Taxation

The Charity 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 Charity 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.

The College became registered for Value Added Tax (VAT) with effect from 1 December 2024, following legislative changes requiring independent schools to charge VAT on certain supplies. From this date, income and expenditure are recorded net of VAT to the extent that amounts are recoverable. Irrecoverable VAT is recognised in the Statement of Financial Activities within Administration costs.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £5,000 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.

Page 24

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. A full years charge of depreciation is charged in the year of acquisition. No depreciation is charged in the year of disposal.

Depreciation is provided on the following bases:

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.8 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.

2.9 Cash at bank and in hand

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

2.10 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 Charity 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 Statement of Financial Activities as a finance cost.

2.11 Financial instruments

The Charity 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 25

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.12 Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.13 Pensions

The charity contributes to the Teachers’ Pension Defined Benefits Scheme at rates set 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 College. In accordance with FRS102 therefore, the scheme is accounted for as a defined contribution scheme. The charity also operates a defined contributory group personal pension scheme for non-teaching staff.

From 1 January 2024, the College entered into phased withdrawal from the Teachers' Pension Scheme. All teaching staff joining on or after 1 January 2024 are enrolled into a defined contribution scheme run by AVIVA (APTIS). Existing teaching staff may opt out of the Teacher's Pension Scheme and join the APTIS scheme if they wish to do so.

During the period the company also paid benefits into a Standard Life Defined Contribution scheme for non-teaching staff. Contributions are charged to the Statement of Financial Activities as incurred.

2.14 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 Charity 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 Charity 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.

2.15 Investment property

Investment property is carried at fair value determined annually by the trustees and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Financial Activities.

Page 26

ST COLUMBA'S COLLEGE & PREPARATORY 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, Governors 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.

Critical accounting estimates and assumptions:

The Governors consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.

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.

4. Deposits

The Governors have reviewed the contract terms under which pupil fee deposits are held by the College. Although under normal circumstances these will be repaid over future years when the pupils complete their education at the College, pupils can leave at earlier dates. The College 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 2025 have been included within current liabilities. The prior year pupil fee deposits balance has been similarly represented.

5. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
25,400
Unrestricted
funds
2024
£
Donations
32,110		 Restricted
funds
2025
£
125,969
Restricted
funds
2024
£
82,189		 Total
funds
2025
£
151,369
Total
funds
2024
£
114,299

Page 27

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

6.
Income from charitable activities
The College's fee income comprised:
Gross fees
Less: Scholarships, bursaries and other discounts
Other educational income
Entrance and registration fees
Other ancillary activities
College coaches, sales of text books, and other income
7.
Investment income
Bank interest receivable		 2025
£
16,860,947
(1,368,113)
15,492,834
25,238
1,020,988
16,539,060
2025
£
165,526
165,526		 2024
£
14,944,757
(1,339,706)
13,605,051
36,282
1,724,062
15,365,395
2024
£
69,178
69,178

Page 28

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

8. Expenditure on raising funds- Financing costs

Costs of raising voluntary income

Unrestricted
funds
2025
£
Bank charges
26,111
Fundraising costs
14,121
40,232
Unrestricted
funds
2024
£
Bank charges
33,276
Finance lease interest
691
Fundraising costs
9,695
43,662		 Total
funds
2025
£
26,111
14,121
40,232
Total
funds
2024
£
33,276
691
9,695
43,662

Page 29

ST COLUMBA'S COLLEGE & PREPARATORY 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

Summary by fund type

Unrestricted
funds
2025
£
Teaching
8,158,545
Teaching support costs
2,539,531
Premises maintenance
2,355,652
Administration costs
1,796,182
Depreciation
823,209
15,673,119
Unrestricted
funds
2024
£
Teaching
7,565,349
Teaching support costs
2,707,735
Premises maintenance
2,569,742
Administration costs
1,637,538
Depreciation
901,074
15,381,438		 Restricted
funds
2025
£
-
-
-
96,677
-
96,677
Restricted
funds
2024
£
-
-
-
56,293
-
56,293		 Total
2025
£
8,158,545
2,539,531
2,355,652
1,892,859
823,209
15,769,796
Total
2024
£
7,565,349
2,707,735
2,569,742
1,693,831
901,074
15,437,731

Page 30

(A company limited by guarantee)

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

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
Teaching support costs
Premises maintenance
Administration costs
Depreciation		 Staff costs
2025
Depreciation
2025
£
£
7,665,953
-
1,345,048
-
344,819
-
832,947
-
-
823,209
10,188,767
823,209		 Other costs
2025
£
492,592
1,194,483
2,010,833
1,059,912
-
4,757,820		 Total
2025
£
8,158,545
2,539,531
2,355,652
1,892,859
823,209
15,769,796

Teaching support costs include payments to the Brothers for working at the College.

Included within support costs are governance costs of £30,924 (2024: £30,381) .

Teaching
Teaching support costs
Premises maintenance
Administration costs
Depreciation		 Staff costs
2024
£
7,089,597
1,128,795
315,780
819,560
-
9,353,732		 Depreciation
2024
£
-
-
-
-
901,074
901,074		 Other costs
2024
£
475,752
1,578,940
2,253,962
874,271
-
5,182,925		 Total
2024
£
7,565,349
2,707,735
2,569,742
1,693,831
901,074
15,437,731

Page 31

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

10. Net incoming resources

These are stated after charging:

2025 2024
£ £
Depreciation 823,209 901,074
Operating lease rentals 452,668 161,354
Fees payable to auditors: current period audit fee 24,110 26,304
Teachers’ Pension audit 1,200 1,308

11. Staff costs

Wages and salaries
Social security costs
Pension costs
Other staff costs		 2025
£
7,649,460
899,907
1,555,888
83,512
10,188,767		 2024
£
7,091,461
767,668
1,422,340
72,263
9,353,732

Included in wages and salaries is £21,665 of settlement costs (2024: £12,696) .

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

Educational
Welfare
Administration and campus support
Premises		 2025
No.
105
28
43
9
185		 2024
No.
102
25
42
8
177

Page 32

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

11. Staff costs (continued)

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

2025 2024
No. No.
In the band £60,001 - £70,000 19 16
In the band £70,001 - £80,000 8 5
In the band £80,001 - £90,000 1 1
In the band £90,001 - £100,000 1 2
In the band £100,001 - £110,000 2 -
In the band £140,001 - £150,000 1 1

Employers pension contributions in relation to the above totalled £589,640 during the year (2024: £417,064) .

Key management personnel (comprising the Headmaster, the Head of the Prep School, the Deputy Head and four Assistant Heads of the Senior School, the two Deputy Heads of the Prep School, the Heads of Sixth Form, the Dean of the College, the Bursar, plus the Governors) received aggregate remuneration of £914,655 (2024: £861,836) .

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, expenses totalling £ 961 were reimbursed or paid directly to 2 Governors (2024 - £701 to 2 Governors) for travel, accommodation, subscriptions, and subsistence.

Page 33

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

13. Tangible fixed assets

Cost or valuation
At 1 September 2024
Additions
Disposals
Reclaim of VAT
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
On disposals
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024		 Freehold
property
£
13,817,164
49,019
-
(3,329)
13,862,854
6,298,394
303,081
-
6,601,475
7,261,379
7,518,770		 Multi use
Games Area
£
1,723,094
82,579
-
-
1,805,673
53,184
55,380
-
108,564
1,697,109
1,669,910		 Plant and
machinery
£
2,229,214
159,556
-
(45,694)
2,343,076
1,973,949
88,116
-
2,062,065
281,011
255,265		 Motor
vehicles
Fixtures
and fittings
£
£
183,061
4,976,539
46,990
164,158
(20,145)
-
(4,476)
(38,120)
205,430
5,102,577
152,382
2,919,029
9,260
367,372
(20,145)
-
141,497
3,286,401
63,933
1,816,176
30,679
2,057,510		 Total
£
22,929,072
502,302
(20,145)
(91,619)
23,319,610
11,396,938
823,209
(20,145)
12,200,002
11,119,608
11,532,134

Page 34

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

14. Investment property

Valuation
At 1 September 2024
Additions
At 31 August 2025		 Freehold
investment
property
£
2,750,000
9,196
2,759,196

The Governors have assessed the open market value as at 31 August 2025, in consultation with local estate agents, and have concluded that the closing book value approximates market value. The property continues to be held for investment purposes.

15. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
1,014,753
56,384
235,415
1,306,552		 2024
£
55,760
75,905
149,009
280,674

Page 35

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

16. Creditors: Amounts falling due within one year

Fees in advance
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deposits repayable
Deferred income - Fees on account
17.
Creditors: Amounts falling due after more than one year
Deferred income - Fees on account		 2025
£
2,021,931
357,763
785,028
102,794
133,336
780,750
4,181,602
859,864
5,041,466
2025
£
1,138,392		 2024
£
1,431,793
303,186
366,215
64,803
123,087
823,500
3,112,584
1,093,555
4,206,139
2024
£
1,942,822

Page 36

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

18. Deferred Income - Fees on account

Amounts may be paid on account to the College to be applied toward the cost of future tuition fees. The money may be returned subject to the specific conditions stated within the Scheme literature. Assuming pupils will remain at the College fees on account will be applied as follows:-

Within 1 year
Within 1 to 2 years
Within 2 to 5 years
More than 5 years		 2025
£
859,864
859,864
460,017
633,082
45,293
1,138,392
1,998,256		 2024
£
1,093,555
1,093,555
834,874
982,840
125,108
1,942,822
3,036,377

The balance represents the accrued liability under the contracts. The movements during the year are detailed as follows:-

At 1 September 2024
Fees received on account
Utilised
At 31 August 2025		 2025
£
3,036,377
137,154
(1,175,275)
1,998,256		 2024
£
-
3,036,377
-
3,036,377

Page 37

(A company limited by guarantee)

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

19. Financial instruments

Financial assets and liabilities
Financial assets measured at fair value through income and expenditure
Financial liabilities measured at amortised cost
Interest income and expense
Total interest income for financial assets held at amortised cost
Total interest expense for financial liabilities helf at amortised cost		 2025
£
6,591,767
(1,374,643)
2025
£
165,526
-		 2024
£
5,197,550
(1,314,576)
2024
£
69,178
691

Financial assets measured at fair value through income and expenditure comprise fees receivable, other debtors, and cash in hand.

Financial liabilities held at amortised cost are bank loans, trade creditors, deposits repayable, other creditors, accruals and net obligations under finance leases.

Page 38

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

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
Hardship Fund
CCF
General funds
Unrestricted General Fund
Total Unrestricted funds
Restricted funds
Development Fund
Charism Fund
Sports Fund
BOSH Developing World Fund
Bursary Fund
CCF
Total of funds		 Balance at 1
September
2024
£
85,780
21,423
107,203
13,158,137
13,265,340
40,494
13,537
7,939
31,260
122,651
-
215,881
13,481,221		 Income
£
-
25,400
25,400
16,704,586
16,729,986
48,322
-
2,076
6,300
66,825
2,446
125,969
16,855,955		 Expenditure
£
(26,306)
(21,432)
(47,738)
(15,665,613)
(15,713,351)
(29,377)
(5,668)
-
-
(59,294)
(2,338)
(96,677)
(15,810,028)		 Balance at
31 August
2025
£
59,474
25,391
84,865
14,197,110
14,281,975
59,439
7,869
10,015
37,560
130,182
108
245,173
14,527,148

Page 39

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

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
Hardship Fund
CCF
General funds
Unrestricted General Fund
Total Unrestricted funds
Restricted funds
Development Fund
Charism Fund
Sports Fund
BOSH Developing World Fund
Bursary Fund
CCF
Total of funds		 Balance at
1 September
2023
£
85,230
11,467
96,697
13,041,453
13,138,150
47,526
13,537
7,939
24,890
93,856
2,237
189,985
13,328,135		 Income
£
550
31,560
32,110
15,434,573
15,466,683
-
-
-
6,370
69,271
6,548
82,189
15,548,872		 Expenditure
£
-
(21,604)
(21,604)
(15,403,496)
(15,425,100)
(7,032)
-
-
-
(40,476)
(8,785)
(56,293)
(15,481,393)		 Gains/
(Losses)
£
-
-
-
85,607
85,607
-
-
-
-
-
-
-
85,607		 Balance at
31 August
2024
£
85,780
21,423
107,203
13,158,137
13,265,340
40,494
13,537
7,939
31,260
122,651
-
215,881
13,481,221

Page 40

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

20. Statement of funds (continued)

Designated Funds

The Hardship Fund is intended to be used to support parents who have children at the College and have encountered financial hardship through circumstances outside their direct control, such as bereavement. The College aims to support the pupil through to the end of their current key stage of education.

The CCF Fund is intended to support the running of the CCF Contingent in the College and may be used at the discretion of the SSI and Contingent Commander in accordance with the financial policies and procedures of the College.

Restricted Funds

The Development Fund was set up to enable parents to support a range of teaching and learning projects and extra-curricular activities benefitting the students.

The Charism fund represents funds donated to support the development of and training in the charism of the Brothers of the Sacred Heart at St Columba’s College.

The Sports Fund relates to funds raised by the school community to support the sporting activities undertaken by the school.

The BOSH Developing World Fund holds funds raised via a voluntary annual levy on Columban parents to support the work of the Brothers of the Sacred Heart in less developed countries.

The Bursary Fund is intended to be used to provide assistance to those parents whose income is such that they would not otherwise be able to pay full fees.

The Combined Cadet Force (CCF) Fund relates to funds held for the sole use of the CCF contingent.

Page 41

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

21. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at
1 September
2023
£
96,697
13,041,453
189,985
13,328,135		 Balance at 1
September
2024
£
107,203
13,158,137
215,881
13,481,221
Income
£
32,110
15,434,573
82,189
15,548,872		 Income
£
25,400
16,704,586
125,969
16,855,955
Expenditure
£
(21,604)
(15,403,496)
(56,293)
(15,481,393)		 Expenditure
£
(47,738)
(15,665,613)
(96,677)
(15,810,028)
Gains/
(Losses)
£
-
85,607
-
85,607		 Balance at
31 August
2025
£
84,865
14,197,110
245,173
14,527,148
Balance at
31 August
2024
£
107,203
13,158,137
215,881
Summary of funds - prior year
Designated funds
General funds
Restricted funds
13,481,221

22. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
11,119,608
Investment property
2,759,196
Current assets
6,583,029
Creditors due within one year
(5,041,466)
Creditors due in more than one year
(1,138,392)
Total
14,281,975		 Restricted
funds
2025
£
-
-
245,173
-
-
245,173		 Total
funds
2025
£
11,119,608
2,759,196
6,828,202
(5,041,466)
(1,138,392)
14,527,148

Page 42

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

22. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2024
£
11,532,134
2,750,000
5,132,167
(4,206,139)
(1,942,822)
13,265,340		 Restricted
funds
2024
£
-
-
215,881
-
-
215,881		 Total
funds
2024
£
11,532,134
2,750,000
5,348,048
(4,206,139)
(1,942,822)
13,481,221

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

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest receivable
Interest payable on finance lease
Loss/(profit) on the sale of fixed assets
Decrease/(increase) in stocks
(Increase)/decrease in debtors
Decrease in creditors
Reclaim of pre-registration VAT
Net cash provided by operating activities		 2025
£
1,045,927
823,209
(165,526)
-
-
468
(1,025,878)
(106,257)
91,619
663,562		 2024
£
67,479
901,074
(69,178)
691
(9,287)
(390)
13,423
(2,964)
-
900,848

Page 43

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

24. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2025
£
5,520,630
5,520,630		 2024
£
5,065,886
5,065,886

25. 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
£
5,065,886
(1,093,555)
(1,942,822)
2,029,509		 Cash flows
At 31
August 2025
£
£
454,744
5,520,630
233,691
(859,864)
804,430
(1,138,392)
1,492,865
3,522,374		 Cash flows
At 31
August 2025
£
£
454,744
5,520,630
233,691
(859,864)
804,430
(1,138,392)
1,492,865
3,522,374
3,522,374

Debt due within one year and debt due after 1 year relates to the payment on account scheme.

26. Capital commitments

There were no capital commitments at the year end (2024: £Nil) .

27. Pension commitments

As explained in the accounting policies, the company contributed to three pension schemes on behalf of its employees during the year.

Teachers' superannuation scheme

The College participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,287,345 (2024: £1,291,748) and at the year-end £Nil ( 2024 - £156,402 ) 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.

Page 44

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

27. Pension commitments (continued)

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%.

From 1 January 2024, the College entered phased withdrawal from TPS following consultation with staff. All teaching staff joining the College on or after 1 January 2024 are enrolled into the APTIS scheme. Teachers and staff before 1 January 2024 may, should they so desire, opt out of TPS and join the APTIS scheme. Payments of £152,699 (2024: £29,015) were made to APTIS in 24/25 and there was a year end creditor of £Nil (2024: £6,289) for the scheme.

Non-Teaching Staff

The company contributes on a money purchase basis to a group personal pension scheme with Standard Life.

Contributions totalling £115,843 (2024: £130,593) were payable to this scheme for the year.

28. Operating lease commitments

At 31 August 2025 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Plant and Machinery
Not later than 1 year
Later than 1 year and not later than 5 years		 2025
£
546,126
431,458
977,584		 2024
£
146,099
393,743
539,842

29. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

Page 45

ST COLUMBA'S COLLEGE & PREPARATORY SCHOOL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

30. Related party transactions

The Charity has three trustees in common with the Brothers of the Sacred Heart, Brother Ronald Hingle and Brother Raymond Hetu and Brother Joseph Holthaus. During the year ended 31 August 2025, a number of payments were made to the Brothers of the Sacred Heart Charity. The following payments have been made during the period:

a) Payment under a transfer agreement of 25 June 2001 (as amended by
an agreement of 27 April 2009)
b) Payment for time spent by the Brothers working in the College
c) Payment for lodge rental and expenses		 2025
£
271,292
59,701
12,482
343,475		 2024
£
249,487
50,951
12,000
312,438

Page 46