2024-08-31-accounts

REGISTERED COMPANY NUMBER: 03687622 (England and Wales) REGISTERED CHARITY NUMBER: 1089055

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

THE GREGG SCHOOLS TRUST (A COMPANY LIMITED BY GUARANTEE)

Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR

THE GREGG SCHOOLS TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

	Page
Reference and Administrative Details	1 to	2
Report of the Trustees	3 to	15
Statement of Trustees' Responsibilities	16
Report of the Independent Auditors	17 to	20
Statement of Financial Activities	21
Balance Sheet	22
Cash Flow Statement	23
Notes to the Cash Flow Statement	24
Notes to the Financial Statements	25 to	43
Detailed Statement of Financial Activities	44 to	45

THE GREGG SCHOOLS TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2024

TRUSTEES	V J Davies (resigned 1.9.2024)
	Ms J L Preston
	Ms S H Sellers
	Ms C A Pulman
	J W Watts (resigned 1.9.2024)
	N Price (resigned 1.9.2023)
	L Jones (appointed 1.9.2023)
	Ms L Nicholls (appointed 1.9.2023)
	Ms A Hendon-John (appointed 1.9.2023)
	I Galvin (appointed 1.9.2023) (resigned 1.9.2024)
	R Humby (appointed 1.10.2024)
COMPANY SECRETARY	Ms C A Pulman
REGISTERED OFFICE	Highland House
	Mayflower Close
	Chandler's Ford
	Eastleigh
	SO53 4AR
REGISTERED COMPANY	03687622 (England and Wales)
NUMBER
REGISTERED CHARITY	1089055
NUMBER
AUDITORS	Hopper Williams & Bell Limited
	Statutory Auditor
	Highland House
	Mayflower Close
	Chandler's Ford
	Eastleigh
	Hampshire
	SO53 4AR
BANKERS	National Westminster Bank plc
	3 Lower Northam Road
	Hedge End
	Southampton
	Hampshire
	SO30 4PA

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THE GREGG SCHOOLS TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2024

SOLICITORS

Trethowans LLP Pavilion Botleigh Grange Business Park Hedge End Southampton Hampshire SO30 2AF

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

The trustees who are also directors of the charityfor the purposes of the CompaniesAct 2006, present their report with the financialstatements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the FinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

As set out in the Memorandum and Articles of Association, the Trust is establishedfor the promotion and advancement of education and in particular the operating of a school or schools for such purpose. Its principalactivitycontinued to be the provision of education for boys and girls at an independent primary and secondary school.

The Charity provides education for boys and girls aged 4-11 years at The Gregg Preparatory School and for boys and girls aged 11-16 years at The Gregg School.

The Trust's aim, as an educational charity, is to benefit the public by providing a first-class education independentof the State system. It also aimsto provide a forward-looking disciplinedenvironmentwhere pupils are given the opportunity to achieve their full potential, as well as helping to build self-confidence and a desire to contribute to the community.

In setting our objectives and planningour activities, our Trustees have considered the Charity Commission's general guidance on public benefit and in particular to its supplementarypublic benefit guidance on advancingeducation and on fee-charging.

The Gregg Schools Trust is a charitabletrust which seeks to benefit the public through the pursuit of its stated aims. Our fees are set at a level to ensure the financial viability of the schools and at a level that is consistent with our aims.

Our Schools welcome pupils from all backgrounds. An individual'sgender, ethnicity, race, religion and in most cases, disability do not form part of our assessment processes.

Our Schools are committed to safeguardingand promoting the welfare of our pupils and expect all staff and volunteers to share this commitment.

The Trust's main objectives are: - To achieve the highest academic performance commensurate with the cultivation of a well-rounded development of the personality in our students. - To widen public access to our system of education within the constraints of our funding as an independent education provider. - To work within the local communityin order that the public can also benefit from the students' education and development.

The Trust's strategies for achieving its objectives are:

• To ensure the continued development and motivation of staff through training and support. - To ensure that the Trust is suitably staffed with the relevant expertise to cope with the changes in educational ideas and legislation. - To ensure that suitable investment is made to aid the teaching process and the development of students. - To continually review and develop our methods for awarding means-tested bursaries to ensure wider access to s students from all backgrounds. - Develop and maintain links with local junior schools and nurseries within both the state and Independent Schools sector. - Continue to raise funds for other charities and provide musical and theatrical entertainment to the local residents.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES Significant activities and achievements

-	The continued delivery and enhancementof the Schools' curriculum, with the 2024 Year 11 cohort having started in Year 7 when the COVID pandemic struck. Given that their education was severely interrupted during the pandemic (class 'bubbles' for example), the GCSE achievements mentioned below are an impressive set of results.
-	Enhancement/refinementof school accommodation to provide specialistfacilitiesand accommodation on site for the benefit of students and staff.
-	Bursaries remain in place at the level of 9.2% of fees.
-	The focus on engagingnew Trustees with dedicated skillse.g., Finance, HR and previous board or governor experience, together with a revamp of the sub-committee offerings. Following the appointment of four new Trustees in September 2023, the Board has continued to train Board members and there will be a new Trustee starting with the Trust in September 2024 who has local government experience, again diversifying the skill set on the Board. Further Board members continue to be actively sought during 2024-5.
-	We have established links with several schools in the surrounding area who we lend our premises and minibuses to without charge, as well as the hospital schools and Naomi's House charity.
-	During the 2023-4 academic year, both schools were inspected by the Independent Schools Inspectorate. The Gregg Schools were some of the first schools to be inspected under a new framework, and while it was in some ways a quite different look and feel from previous Inspections, the Trust is pleased to say that both schools passed their respective inspections, where all Independent Schools Standards Regulations (ISSRs) were met. Under the new framework, schools are deemed to have met or not met the standards, with comments in plain English with no emotion.
-	Some of the quotes from these inspections:
	Prep School
	- Leaders recognise the need to improve their oversight of the curriculum and teaching. They have recentlyintroduced new staff roles as subject leaders. Their role is to develop a curriculum that ensures pupils build on their prior learningand to support leaders in the oversight of teaching, including the improvement of the consistency of staff feedback.
	- Pupils develop effective linguistic, literacy and numeracy skills, through a daily focus in these areas of learning. Staff have secure subject knowledge and use resources effectively to help pupils gain a greater understanding in lessons.
	Gregg School
	- Governors and senior leaders provide clear strategic decision makingfor the whole school which middle leaders implement effectively within their departments and across year groups. In doing so, they promote high levels of wellbeing.
	- The 'Respect' programme is a key influenceon the successful development of pupil's social and personal skills, including listening to the points of view of others and tolerance, empathy and cultural awareness.
	- Pupils' work shows teachers' recognition and celebration of positive work habits such as independence, resilience and accuracy.
-	The 2024 GCSE results clearly demonstrate the value the school has added to each and every student. The average grade a student achieves is a Grade 6, somethingto reallybe proud of. A key part of this success has been the range of revision and intervention opportunities offered by the various departments.
-	97% of students in the Class of 2024 achieved 5 or more Grade 4's and above. This continues to be an excellent performance for a non-selective school with an ethos of personal best for all students. These results surpass those of 2019, the last year before the COVID pandemic which is the real litmus test.
-	The number of Grades 7 to 9's achieved by students increased to 43% of all grades awarded overall.
-	The Gregg School continues to perform higher than national averages for non-selective schools. 94% of students achieved grade 9 to 4, against a national average of 67.4%.
-	Students from the Gregg School enjoyed success at a variety of national competitions includingone student being placed as a winner of the Annual University of Southampton Maths Challenge which received over 1300 entries from around the UK and beyond.
-	Two students took part in the regional ISA Art Competition 2024. One achieved a 'HighlyCommended' in ART 3D INDIVIDUAL KS4 and another 2nd place in FASHION AND ACCESSORIES KS3/4. An amazing achievement.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES

• In November, KS4 students were invited to participate in the Future Chef competition. A Year 10 student won the regional heat and went on to wow the judges at the final in London.

• • The swimmingsquad excelled at The Southampton Schools' SwimmingGala where The Gregg School was crowned overall 2024 champions. The boys came first team and the girls second, giving us victory for the 15th year in succession!
• • In 2023-4, more than fifty students took part in the Duke of EdinburghAward. Many of these students have finished at least one other section and we look forward to celebrating lots of completed Bronze Awards soon. In addition, nineteen of last year's Bronze participantshave moved on to Silver Level. These students are now very close to their final assessed weekend, which will take place in Purbeck in the autumn of 2024.

The Gregg School and The Gregg Preparatory School work very closely. The young students from the Preparatory School benefit from regular visits to the main school site, taking advantage of the facilities to enhance their learning across all areas of the curriculum.Gregg School staff regularlyvisit the Preparatory School also to share expertise. This close collaboration ensures a very smooth transition to our Senior School at the end of Year 6.

The Art Department at The Gregg School welcomed the Gregg Preparatory for a series of workshops looking at Kew Gardens to fit in with their project at looking the Victorians. Preparatory students painted some beautiful plant and leaf shapes and explored the hot houses of Kew and the industrial advances that made them possible.

The 2023-4 academic year has seen the further enhancement of a Forest School facility in the woods of the extensive grounds of The Gregg School at Townhill Park. This gives both the Preparatory School and Gregg School children a valuableoutside space to appreciate nature at its' best further cementingthe linksbetween the two schools - two schools and one business.

The Gregg School:

Just a small sample of some of the significant activities and achievements at The Gregg School in 2023-4 have included:

• 97% of students achieving grade 4 (and above) in English Language

• 96% of students achievinggrade 4 (and above) in Maths with 58% of students achievinga Grade 7 to 9. This is significantly above the national average.

• 96% of students achieving grade 4 (and above) on the Combined Science route. 100% of students who took individualsciences achieved grade 5 (and above) with an impressive 73% of grades awarded being grade 7 to 9.

• In many other subjects includingFine Art, Child Development, Chinese, Drama, French, Music, Religious Studies, Photography, Statistics and Textiles students achieved 100% pass rates in Grades 4 to 9.

• • The top 9 performers in the Year achieved a very impressivethirty-four Grade 9's and thirty Grade 8's. The Burford Prize for Best Performance was awarded to a student who achieved a phenomenal ten Grade 9's and two Grade 8's at GCSE.

• There were many students who performed exceptionally in terms of their attainment, and they will be recognised at the Year 11 Presentation Evening in October 2024.

• Alongside the amazingattainmentof the highergrades, there were manyhard-workingstudents who made substantialprogress over their time at The Gregg School. On average, the school has added 0.2 of a grade to every student who has taken the 5-year journey with the school.

• Year 9 students completed their Language Leader Award. This achievement is a favourite among students as they train to become primary school teachers, and it is also part of their Valor Additus Award.

• • An amazingarray of trips were organised for students in 2023-4 includingtheatre productions; visiting the Harry Potter Studios (which included a chance to take part in a script writing class and see exhibits from the filmnot usuallyshown to the general public); an informativeday at GCSE Science Live!; Marwell Zoo; Hengistbury Head; Bovington Tank Museum; London science museum; Hampton Court Palace and many more.

• Students also visited Barcelona, Berlin and Iceland on residential trips.

• There are a wide variety of clubs students can join rangingfrom sports to the debating club, to lunchtime creative writing, to science club and so many more.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES

• There was also extensive use of the stunning grounds for lessons includingfinding the tallest tree in the school grounds and calculating and recording its approximate height.

• • The Drama and Music departments came together for two nights of high energy fun in the school production of "Sister Act, The Musical". From October to March, over 50 students rehearsed weekly to bring this show to fruition at the Royal Theatre in Winchester. The audience were simply stunned by the level of talent amongst the student body. This was an exceptional experience for all involved and the departments are already busy planning next year's production.
• • The Gregg School was excited to welcome new staff to the Student Support Department, bringing valuable skills and expertise. Students who had received additional support exceeded expectations this year with some amazingindividualsuccess stories. The school continues to provide dedicated support staff for each year group, ensuring focused assistance for all students.
• • All students in Years 9 and 10 had at least one personalised careers interview to discuss their next steps.
• • A number of visiting speakers, including former students, gave a variety of talks to different years groups.
• • In Personal & Social Development (PSD) lessons students explored an array of issues including physical and mental health; the impact of bullying; prejudice and discrimination; and financial decision making.
• • High Performance Learners (HPL) had a busy year of trips, talks and projects including Susie Dent's fascinatingtalk about 'The Secret Life of Words' and Brian Cox delving in to the world of black holes and mind-blowing facts about the size of the universe.

• In December, the orchestra and choir provided festive music for the whole-school Carol Service which took place at St James' Church, West End. This was followed by a Winter Concert, where approximately 50 students entertained a packed hall with some festive and non-festive delights!

• Music students were keen to showcase their hard work and enthusiasticallyperformed at multiple events such as school and garden open days and achievement evening. This culminatedin a final concert in June (on one of the hottest days of the year!) where the audience were entertainedby our choir, orchestra, rock band, jazz band, string ensemble and soloists.

The Gregg Preparatory School:

2023-4 has been another educational, fulfillingand fun-packed year for students at The Gregg Preparatory School. A brief synopsis of just a few of opportunities and activities students have enjoyed are listed below:

• A wide variety of residential and day visits including to working farms; the beach; wildlife walks on Dartmoor; the Eden Project; Beaulieu Motor Museum and many, many more giving students the opportunity to extend their learningbeyond the classroom which plays a significantrole in developing their independence and helping create special and lasting memories and friendships.

• Exciting project-based learning to unleash their creative energy by creating a public product, app or presentation for a real audience, as well as EnterpriseWeek which provides the opportunity to discover any budding Richard Bransons and Alan Sugars which also generated over £500 for the school PTA.

• Language Ambassador roles have been created for Form 5 and 6 students. These Ambassadors played a key role in organising a successful Language Fun Day towards the end of the Summer Term. The event offered the childrenopportunities to sample different foods; learn greetings in various languages;and even decorate biscuits with country flags among other fun activities.

• A thrivingEco-Committee, made up of representatives from every class voted by their classmates, and the School Council which gave the students a strong voice in all matters related to the running of the school.

• • Opportunities for Key Stage 2 (KS2) students to participate in additional activities included but were not limited to Football club; Sports Club; Netball Club; Taskmaster; Music Club, Art Club; Sports Day; Swimming Gala and other external events and tournaments.

• KS1 students enjoyed a variety of trips includingMarwell Zoo, local parks, the Pantomimeand, of course, the Isle of Wight trip during the Summer Term.

• Reception enjoyed many adventures in the local community such as feeding the ducks, going to visit the local greengrocer to buy produce and visiting the local bookshop. Frequent walks in the local area also allowed them to extend their learning beyond the classroom by studying things they saw on their walks.

• • Forest School was a huge highlightin the Autumn Term and the childrenoften still talk about their forest adventures includingreal-lifeobservations of butterflies. They also had the opportunity to observe chicks hatching in their very own classroom which the children through were fabulous.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES

Principal funding sources and expenditure supporting the key objectives:

The principal source of funding continues to come from tuition fee generation, the total of which is determined by student numbers and the level of the advertised annual fees, as determined each year by the Trustees.

The principalform of expenditure is levied on staff salaries. A large proportion of the remainingfunds are expended on the maintenance and development of the schools' infrastructures and in the provision of teaching aids.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES Public benefit

Bursary and Scholarship Policy:

The Trustees view our bursary and scholarship awards as important in helping to ensure children from families who would otherwise not be able to afford the fees to access the education we offer.

Our schools do not have endowments and fund awards from within our own financialactivity. We must therefore be mindful of the balance between fee paying parents, many of whom make considerable personal sacrifices to fund their children's education, and those benefiting from the awards.

In accordance with our Bursary Policy, our bursary awards are availableto all students and are made solely on the basis of parental means or to relieve hardship, where a student's education and future prospects would otherwise be at risk. The awards normallyrange from 10% to 50% but additional support up to 100% would be considered in extreme or extraordinary circumstances.

Parents are required to complete a comprehensive application form (designed by The Bursars' Association) to provide full details of income and assets in order that each financialsituation can be assessed by the Trustees. Further information can be found within the Schools' Bursary Policy.

Scholarships and bursaries are advertised on the Schools' websites, within advertisements and within prospectus information.

Scholarshipsare offered for academic excellence, or for Art, Music, and Sport, when students initiallyapply to enter the school in year 7.

Academic scholarship awards are dependent on Entrance Examinationperformance. Art, Music, and Sport scholarships are awarded, one per subject.

Bursaries, Scholarships and Accessibility:

Both Schools continue to offer means tested bursaries to widen the accessibilityof our educational system. The Gregg School also offers part scholarships for academic excellence, music, art and sport. Both scholarships and bursaries are awarded from the Trust's own income and are therefore limited to affordability.

Means tested bursaries are available to all students and not dependent on performance in the Entrance Assessment provided that prospective students are considered to be able to access the GCSE curriculum. The schools are not academicallyselective. Selection is based on a number of considerations;Entrance Assessment, school reference, school report and observations during school visits. The Head teacher meets as many families as possible as part of the AdmissionsProcess. ChildrenrequiringLearning Support are invited to visit the Student Support department and meet the SENCo, prior to the Entrance Assessment taking place.

Bursary awards have fallen slightly over the last two years and are similar in value to scholarships.

This year 40 students were helped through means tested bursaries (46 students in 2022-2023), representing 9.2% of all students (8.3% in 2022-2023) with a value of £235,690 (£218,514 in 2022-2023) 3.9% of gross fee income (3.4% in 2022-2023).

A further 52 students (11.9%) were assisted through scholarshipswith a value of £141,164 (61 students in 2022-2023; 13.3% value of £142,967), 2.3% of gross fee income (2.2% in 2022-2023).

A further 76 students (83 students in 2022-2023) received a siblingdiscount of 10% or 15% representing1.8% of gross fee income (1.6% in 2022-2023) and there were 13 students (12 students in 2022-2023) in receipt of staff discounts representing 1.5% of gross fee income (1.2% in 2022-2023).

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES

Bursaries generallyallow parents a reduction in fees of up to 50%. However, in extreme overall circumstancesmore has been offered. During 2023-2024, 25 students benefitted from 50% assistanceand 0 students benefit from between 50% to 100% assistance. During 2022-23, 11 students benefitted from a 50% assistance and 1 student benefitted from 50% to 100% assistance.

Public and Community Involvement:

Students embrace their local communitythrough a wide range of charitywork and volunteeringactivities throughout the school year, and we greatly value the support we receive from the local business and public service communities in providing speakers on a wide range of topics and issues.

We are committed to ensuringthat students not only progress academically,but also embrace values which enhance their spiritual, moral, cultural and social development. Our charity and community programme plays a significant role in delivering these aims, enabling students to gain a wider understandingof their place in society and inspiringthem to develop a benevolent attitude to those less fortunate than themselves.

In February, students promoted Fairtrade during Fairtrade Fortnight making dishes with carefully considered Fairtrade ingredients.

In March, The Gregg School's maths department welcomed 112 Year 5 students from 17 different schools to take part in the PrimarySchool Maths Challenge.The students worked in teams of four to solve a range of different maths problems, putting their problem-solvingskills and logic to the test. It was a fiercely competitive day, but in the end St Mark's CE School were crowned the winners.

To celebrate the 200th anniversaryof the Royal National Lifeboat Institution (RNLI), the crew of Calshot Lifeboat organised a competition for students in the local area to design a tee-shirt logo for their uniforms. One of our teachers, who is a long-standing member of the Calshot crew, organised a house competition with a student from The Gregg School being judged best in the 11-16 age group.

In June, a group of Year 8 students enjoyed visitingHolt Farm. As part of the trip, the class learnt about how sustainable farming methods can support the environment.

Friends of Townhill Park House Gardens

The Friends of Townhill Park House and Gardens are a team of dedicated volunteers who help maintainthe stunning Grade II listed Gertrude Jekyll gardens.

In the gardens, our Grounds team and the 'Posse' of volunteers have been terribly busy again this year. The brickwork and paving have been cleaned and repointed. The pergola and orchard have had their annual prune, and the old woody lavenders and rosemary has been dug out. These will be replaced shortly. We sadly lost a large Cedar tree in the orchard this year which had to be removed.

We have however, planted a new apple tree in the orchard which is of the "CRISPIN" variety as a farewell gift to our departing Bursar, Crispin Ingham. It has already provided plenty of apples in its first year here.

Regular Garden Open Days enable members of the public to enjoy our beautiful environment and discover the heritage behind Townhill Park House with no admission fee being charged. Heritage Day and the three Garden Open Days in 2023-4 were once again well attended. The Duke of Wellington's Regency Dance Group provided stunning dance demonstrations to visitors, and displays of vintage cars took visitors back to days gone by.

We were also visited by members of the Gardens HampshireTrust, who had a tour around our gardens with committee members Peter and Rosaline.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES

The Gregg School:

The Gregg School has an enviable reputation for involvementin charitableprojects. We have maintainedthis reputation not only by continuing our calendar of well-established events, but also by participation in new ventures, raising many thousands for a range of worthy causes.

This year we have sought every opportunity to promote our three guiding principles of Realising Personal Best, Providing Enriching Experiences and Valuing All, not only in school but also within our wider community.

As part of our desire to establish a strong culture supporting the ideas of 'Belonging' and 'Legacy', we have joined in partnershipwith Naomi House ChildrensHospice and Jacksplace, the only hospice for young adults in our region. The partnership aims to develop students understanding of the support and care Naomi House & Jacksplace provide for many familiesand children alongside a range of fund-raisinginitiatives, a number of which are mentioned later in this report.

We started our year of fundraising in September by combining activities for the European Day of Languages with fundraising for MacMillan Cancer Support, the UK's leading cancer care charity. Competitions, raffles and a mouth-watering array of cakes from the cake bake combined to raise £350.

In November, members of our Creative Sewing Club made felt poppies which they sold in school in aid of The Royal British Legion. The lower school girls, some of whom had hardlyany sewing experience, did an amazingjob and sales were brisk. On Remembrance Sunday, our Head Girl, Deputy Head Girl and Senior Student joined West End parishionersfor their parade and service to pay their respects to those who had lost their lives in past conflicts on behalf of our school.

Our Childrenin Need non-uniformday, cake sale and teacher challengesraised an impressive£770 for the charity which supports disadvantaged children and young people across the UK. Students particularlyenjoyed the opportunities to soak their teachers with wet sponges and beat the Goalie in the penalty shoot-out.

As Christmas approached, our thoughts turned to those in need closer to home. Students donned items of festive clothing for our ChristmasLunch Day, and donated items for the Eastleigh Basics Food Bank and the Second Chance AnimalCentre in Mansbridge,whilst our ChristmasJumper Day raised £150 for Save The Children. Also in December, we welcomed donations of gifts for childrenand familiesin the Paediatric Intensive Care Unit at Southampton General Hospital, students and staff generously providingsocks, children'sbooks, craft and arts materials. In addition, our annual Carol Service at St. JamesChurch in West End was a highlightof the term, the collection raisingnearly£200 forAlfie's Wish`, the South of England charity that arranges memorable experiences for children living with cancer.

House sporting events provided a number of opportunities to raise money for various charitablecauses. In February, the House SwimmingGala commenced with a Swimathon Challengewith 98% of students taking part, swimming 1,040 lengthsbetween them - the equivalent of 16 miles!The spirit of the House system was well and truly alive, with students supporting one another and challengingthemselves to achieve personal goals, raising£260 for Cancer Research UK in the process. The House Cross Country afternoon in March also included a Colour Run, raising nearly £2,000 which was split between Comic Relief and Naomi House.

We hosted another Primary Schools Cross Country Challenge this year, our Year 10 GCSE PE students welcoming students from local primaryschools to compete in this annualchallenge. Unfortunately, the weather wasn't on our side, but the young students braved the torrential rain, running the very muddy course around our grounds with great gusto!

Collections at Sister Act production and the Gardens Open Day in May raised a further £53.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES

A number of staff and students took on the 'Classic Clarendon Way' or the 'Half Way Clarendon' on Sunday 2 June to raise money for Naomi House and Jacksplace. The 'Classic Clarendon' walk, a 26-mile walk from Winchester to Salisbury, took them through some of Hampshire and Wiltshire's most beautiful countryside, whilst the 'Half Way Clarendon' 12-mile walk followed an equally scenic route from Broughton to Salisbury. Other students, together with some parents, completed laps of our grounds stridingout to raise money and House Points. The combined sponsorship of all these events raised over £1200.

We supported ABIDE week in May, celebrating World Culture Diversity Day, with a range of activities in the lower school. A non-uniformday and cake sale raised £570 which was divided equallybetween Southampton Hospital School (The HAMWIC Education Trust) and Naomi House & Jacksplace.

Volunteering in our local community has also afforded students a host of enrichingexperiences and opportunities to realise their personal best whilst helpingothers. In particular, students on the Duke of Edinburgh Award Scheme have engaged in a host of voluntary roles, includingvisitingthe elderly in a local care home, helpingat Beavers/Cubs groups as Young Leaders, litter picking, marshallingat Parkruns, and mentoringyounger students. In total, they completed 624 hours of voluntary service during the year, which the Duke of Edinburgh scheme advises has a "social value" of £3,294.

The Gregg School is looking to work on a "Working in PartnershipArrangement"with neighbouringschools, which will allow the use of the grounds, facilitiesand minibusesof The Gregg School. In addition, the Gregg School has started to provide the outside space for use of local schools and are committed to doing more next year. Our grounds have been open to Southampton Hospital School, and minibuses have been provided to them and local schools.

The Gregg Preparatory School:

The Gregg Preparatory school, although small in numbers, also do their bit and have held several fund-raising and community events during the year. These include:

• A Macmillan Coffee Morning in September which raised £95

• • In support of Blind Awareness Month in October the school invited a representative from the Guide Dogs to talk to the children about the work of the Guide Dogs. £150 was raised for the RSPCA.
• • Food donations were sent to Southampton Sunday Lunch Project as well as Fareham Food Bank in support of Harvest.
• • The school raised £260 for Children in Need through donations on the day and a movie night in November.
• • Also in November, the school celebrated Remembrance Day by selling poppies donated by the British Legion.
• • In December the school supported Crisis at Christmas through donations made at our annual Nativity Performance which takes place at a local church. The donations made by parents are split between Crisis and the Church. £56 was raised for Crisis.

Volunteers

Other than salaried members of staff (Headteacher and Teacher), the schools' Trustees did not receive any payment for the work they carried out in the capacity for the charity in the year ending 31 August 2024.

New Governors and other volunteers are recruited and inducted in accordance with Schools' policy and DBS clearance is obtained.

The Gregg School has three volunteers helping with its Duke of Edinburgh programme.

The Gregg School's formal Gertrude Jekyll gardens are tended to by The Friends of TownhillPark House Gardens, who are all non-paid volunteers.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

OBJECTIVES AND ACTIVITIES

Student numbers - The Gregg School:

Student numbers in 2023-2024 averaged 334 (in 2022-2023 student numbers averaged 356). The start numbers for 2024-2025 are 334.

The Open Days are well supported as we continue to widen the links with a number of our feeder schools through invitationsto Science and Technology workshops. This has been supported by presentations to parents at these schools, including the biennial Sherborne House open event.

A major factor in recruitment is the provision of transport to and from school, with a total of 24 minibuseson site. The minibuses cover 22 different routes, up from 21 last year. Continued student demand saw 94% of our students using these services daily, havinga positive effect on the environmentwith only a smallnumber of parents needingto use their own cars.

Student numbers - The Gregg Preparatory School:

During 2023-2024 the main school student numbers averaged 83 (in 2022-2023 student numbers averaged 100). Numbers for the new school year 2024-2025 are 67.

Members' liabilities:

The charityhas no share capital and is limitedby guarantee. In the event of a windingup, each member of the company is liableto contribute an amount not exceeding £1. As at 31 August 2024 there were 9 members (in 2022-2023 there were 6 members). One new member has been recruited for the 2024-2025 academic year and will be effective from 01 October 2024.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Activities 2023-2024:

Continued reorganisation of the Schools' governing body to provide more involvement and support to both Schools has progressed well. Four new Trustees were appointed who will bring finance/audit, risk, HR, SEND, governance and project management experience to the Trust's skills base. We will look to increase the communication and education skills in the next year.

NOTE:

In 2021/2022, the Trust took the decision that from September 2022, the Trustees will be known as Governors going forwards. The reason for this is to reflect the wider accountabilitiesand responsibilities,to be better understood in the educational environmentand public domain and is the term used by AGBIS in their Governance manual.Therefore, any reference to Trustees or Governors in this report should be taken to mean the same person(s).

Fundraising activities

The charity adheres to charity sector guidelinesand regulations includingthe FundraisingCode of Practice and would take appropriate action to remedy any shortcomings identified. The Charity's fundraisingpractices are ethical. We are committed to protecting privacy and only use personal data that we collect in line with applicable laws, including the General Data Protection Regulation (GDPR): data is not shared, sold, swapped or rented to third parties for marketing purposes; communication is only sent to those who want it in the method they have agreed to.

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THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

FINANCIAL REVIEW Financial position Financial performance key indicators

The annual accounts are a consolidation of both The Gregg and The Gregg Prep Schools. The Trust has a rolling5-year financialplan, which includesCash Flow and Profit and Loss predictions. These plans are reviewed and updated each year.

Thisyear's accounts show a deficit of £308,498 after depreciation of £114,398 and after profit on sale of assets of £1,767 (2022/23: £111,121 surplus after £122,595 depreciation and profit on sale of assets of £8,600).

Fees for the school year, 2023/24 have been increased at both schools by 6.5%, The Gregg School to £5,169 per term and at The Gregg Prep School to £3,342 per term.

Tuition fee income generation amounted to £5,501,007 (2022/23: £5,745,083). Tuition fee income accounted for 90.58% of total income (2022/23: 90.63%) which was £6,073,082 (2022/23: £6,339,018).

To provide the education and support needed to achieve the key objectives of the Trust £4,522,485 (2022/23: £4,324,575) as paid in salaries(includingEmployers NI and Pension Contributions). This accounts for 82.21% of the fee income (2022/23: 75.27%) and 74.47% of total income (2022/23: 68.22%).

The combined schools' staff/pupil ratio was 6.92 (2022/23: 7.73), The Gregg School 6.70 (2022/23: 7.38) The Gregg Prep 7.83 (2022/23: 9.16).

Reserves policy

The Trustees have reviewed the charity'sneed for reserves in linewith the guidanceissued by the CharityCommission in SORP (FRS102). The ideal level of free reserves is two thirds of the Schools' operating costs being £4,254,387 (2023: £4,151,931). Unrestricted funds at 31 August 2024 amounted to £2,100,799 (2023: £2,405,154). After excluding unrestricted fixed assets £5,155,699 (2023: £5,212,814) (Note 20) and addingback related bank loans, there are negative 'free' reserves of £1,177,582 (2023: £845,697). However, the charityhas secured cash flow in the form of fees received in advance of £3,491,461 (2023: £2,835,639) (Notes 16 and 17) to meet its operating costs as they arise.

The Trustees regularlyreview the finances,budgets and spend against budget together with a monthlycash flow analysis as part of the effective stewardship of the Schools.

In common with other Independent Schools, the Trustees have invested funds into school buildingsin recent years and have a continuingprogramme of refurbishment,development and investment to maintainexcellent teaching facilities for our pupils. Although the free reserves are at a negative balance, this illustrates the extent of the investment in our Schools, which is a common practice by Independent Schools which have to finance their own capital investment plans.

The Trustees recognise that the level of reserves fluctuates duringperiods of investmentin the Schools and arrangements with our bank are in place to provide an adequate 'safety net' should it be required.

Valuation of land and buildings

The freehold land and buildings were professionally valued in December 2020 at £4,250,000. Land and buildings are recognised at historical cost less accumulated depreciation and so this valuation has not been reflected in these financial statements.

Financial effects of significant events

No major or significant borrowing has been taken within this financial year ending 31 August 2024.

Page 13

THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

FUTURE PLANS

The Gregg Preparatory at Winn Road continues to be leased from the Sutton Brothers. As ever our property footprint remainsunder regular review and opportunities to explore potential alternativesand seek a long-term solution are being considered. This will ensure that we have made provision for the long-term future of the school and its abilityto feed the Gregg School.

The two standalone classrooms near the HART building were ready on schedule and brought into service as a forest school and Humanities classroom in one case and an Art and DT classroom in the other.

The funding and construction of a new sports hall at The Gregg School remains the Trustees' significant goal when appropriate funds become available,although the long-term plans and solution for the Preparatory School site remains a top priority.

Following the General Election in July 2024, the Labour Party's proposed policies for Independent Schools has necessitated a deep and forensic dive into future plans. The major of these changes is the stated imposition of Value Added Tax (VAT) on school fees, which are currently exempt from VAT. In addition, Business Rate Relief, currently 80%, has been reduced to zero. The Trust continues to monitor the situation very closely and is taking proactive action to communicate with parents and guardians who are understandably anxious about any large increase to fees.

As part of this deep dive, all aspects of the schools' undertakingsare being considered, quantifiedand where appropriate, reapproved or amended to ensure the future proofing of the schools. If alternativeor possibly difficult decisions need to be made, the Trust want to be able to be able to make these decisions, having considered all options and with the necessary processes in place to transition.

The Trust continues to be focused on ensuringthe deliveryof the quality of education parents have come to expect, and as a charity, any surplus made is reinvested back into the schools and pupil opportunities.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The company is governed by its Memorandum and Articles of Association which were drawn up on 23 December 1998 and amended by Special Resolution(s) on 7 August 2001 and as amended by Special Resolution(s) on 21 February 2005 and as amended by Special Resolution(s) on 7 December 2018.

Organisational structure

The Trustees are responsiblefor all aspects of school: The educational and pastoral care provided by the Schools coupled with the financialand legal managementof the Schools. If a vacancy arises the Trustees will ensure that all skills continue to be covered. The main skills required are educational knowledge, legal and accountancy.

The day-to-day management is delegated to the Head Teachers and the Bursar.

Induction and training of new trustees

Proposals to introduce new Trustees are discussed and agreed within Trust meetings. New Trustees are interviewed by two Trustees and performance, as with all Trustees, is reviewed annually by the Chair.

Training of new Trustees is undertaken by the Chair and Bursar, backed by appropriate professionally run external courses and full use of publications available from the Charity Commission and AGBIS.

The pay of key management personnel is set by the Trustees, in line with the charity governing policy.

AUDITORS

Hopper Williams & Bell Limited, was appointed under section 487(2) of the Companies Act 2006.

The auditors, Hopper Williams& Bell Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Page 14

THE GREGG SCHOOLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

04 Dec 2024

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

..................................................................... Ms J L Preston - Trustee

Page 15

THE GREGG SCHOOLS TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024

The trustees (who are also the directors of The Gregg Schools Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Companylaw requires the trustees to prepare financialstatements for each financialyear which give a true and fair view of the state of affairs of the charitablecompanyand of the incomingresources and applicationof resources, including the income and expenditure, of the charitable company for that period. In preparing those financialstatements, the trustees are required to

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP;

• make judgements and estimates that are reasonable and prudent;

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

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financialposition of the charitablecompany and to enable them to ensure that the financialstatements comply with the Companies Act 2006. They are also responsible for safeguardingthe assets of the charitablecompany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company's auditors are unaware; and

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

The Trustees (who are also the Directors of The Gregg Schools Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Companylaw requires the Trustees to prepare financialstatements for each financialyear which give a true and fair view of the state of affairs of the charitablecompanyand of the incomingresources and applicationof resources, including the income and expenditure, of the charitable company for that period.

In preparing those financialstatements, the Trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financialstatements on the going concern basis unless it is inappropriateto presume that the charitable company will continue in business.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financialposition of the charitablecompany and to enable them to ensure that the financialstatements comply with the Companies Act 2006. They are also responsible for safeguardingthe assets of the charitablecompany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware: there is no relevant audit informationof which the charitablecompany's auditors are unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Page 16

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE GREGG SCHOOLS TRUST

Opinion

We have audited the financial statements of The Gregg Schools Trust (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of FinancialActivities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with InternationalStandards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financialstatements section of our report. We are independent of the charitablecompany in accordance with the ethical requirements that are relevant to our audit of the financialstatements in the UK, includingthe FRC's Ethical Standard, and we have fulfilledour other ethical responsibilitiesin 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 auditingthe financialstatements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identifiedany materialuncertaintiesrelatingto events or conditions that, individuallyor collectively, may cast significantdoubt 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 responsibilitiesand the responsibilitiesof the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other informationcomprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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

In connection with our audit of the financialstatements, our responsibilityis to read the other informationand, in doing so, consider whether the other information is materiallyinconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materiallymisstated. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Page 17

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE GREGG SCHOOLS TRUST

Matters on which we are required to report by exception

In the light of the knowledge and understandingof the charitablecompany and its environmentobtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

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

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

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

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

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

• the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitablecompany for the purposes of company law) are responsible for the preparation of the financialstatements and for being satisfied that they give a true and fair view, and for such internalcontrol as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Page 18

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE GREGG SCHOOLS TRUST

Our 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 materialmisstatement,whether due to fraud or error, and to issue a Report of the Independent Auditors 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, individuallyor in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities,includingfraud, are instances of non-compliancewith laws and regulations. We design procedures in line with our responsibilities,outlined above, to detect materialmisstatementsin respect of irregularities,includingfraud. Due to the inherent limitationsof an audit, there is a risk that we will not detect all irregularitieseven though the audit has been properly plannedand performed in accordance with the ISAs (UK). 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 that are applicable to the company, and the industry in which it operates. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Principles and the relevant tax compliance regulations for the company.

• We obtained an understanding of how the company is complying with these frameworks through discussions with management.

• We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures includingbut not limitedto a review of legal and professional costs, correspondence and a review of board minutes.

• We assessed the susceptibilityof the company's financialstatements to materialmisstatement,includingthe risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.

• We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understandingof the industryin which the company operates in, and their practical experience through training and participation with audit engagements of a similar nature.

A further description of our responsibilitiesfor the audit of the financialstatements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 19

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE GREGG SCHOOLS TRUST

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 auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilityto anyone other than the charitablecompany and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michaela Johns FCCA (Senior Statutory Auditor) for and on behalf of Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR 04 Dec 2024 Date: .............................................

Page 20

THE GREGG SCHOOLS TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024

Unrestricted fund Notes £ INCOME FROM Donations and legacies 3 - Charitable activities 5 School fees receivable 5,501,007 Additional school activities 541,702 Investment income 4 16,766 Other income 6 1,767 Total 6,061,242 EXPENDITURE ON Charitable activities 7 School operating costs 4,730,173 Welfare costs 430,388 Transport costs 439,971 Premises 765,065 Total 6,365,597 NET INCOME/(EXPENDITURE) (304,355) RECONCILIATION OF FUNDS Total funds brought forward 2,405,154 TOTAL FUNDS CARRIED FORWARD 2,100,799	Restricted fund £ 4,125 - 7,715 - - 11,840 11,840 - - 4,143 15,983 (4,143) 9,346 5,203	2024 Total funds £ 4,125 5,501,007 549,417 16,766 1,767 6,073,082 4,742,013 430,388 439,971 769,208 6,381,580 (308,498) 2,414,500 2,106,002	2023 Total funds £ 4,413 5,745,083 570,177 10,745 8,600
			6,339,018
			4,935,886 377,820 298,441 615,750
			6,227,897
			111,121 2,303,379
			2,414,500

CONTINUING OPERATIONS

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financialactivitiesalso complieswith the requirementsfor an income and expenditureaccount under the Companies Act 2006.

The notes form part of these financial statements

Page 21

THE GREGG SCHOOLS TRUST

BALANCE SHEET 31 AUGUST 2024

		2024	2023
	Notes	£	£
FIXED ASSETS
Tangible assets	13	5,158,863	5,220,121
CURRENT ASSETS
Stocks	14	14,720	16,291
Debtors	15	1,208,836	1,016,183
Cash at bank		1,578,790	1,363,271
		2,802,346	2,395,745
CREDITORS
Amounts falling due within one year	16	(3,609,426)	(3,317,277)
NET CURRENT ASSETS		(807,080)	(921,532)
TOTAL ASSETS LESS CURRENT
LIABILITIES		4,351,783	4,298,589
CREDITORS
Amounts falling due after more than one year	17	(2,245,781)	(1,884,089)
NET ASSETS		2,106,002	2,414,500
FUNDS	21
Unrestricted funds		2,100,799	2,405,154
Restricted funds		5,203	9,346
TOTAL FUNDS		2,106,002	2,414,500

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 04 Dec 2024 ............................................. and were signed on its behalf by:

............................................. J L Preston - Trustee

The notes form part of these financial statements

Page 22

THE GREGG SCHOOLS TRUST

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024

Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities Bank loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	2024 £ 399,523 (64,752) 334,771 (55,553) 4,180 16,766 (34,607) (84,645) (84,645) 215,519 1,363,271 1,578,790	2023 £ (155,814) (67,134) (222,948) (104,765) 8,600 10,745 (85,420) (84,356) (84,356) (392,724) 1,755,995 1,363,271

The notes form part of these financial statements

Page 23

THE GREGG SCHOOLS TRUST

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Profit on disposal of fixed assets Interest received Interest paid Decrease/(increase) in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operations ANALYSIS OF CHANGES IN NET DEBT At 1.9.23 £ Net cash Cash at bank 1,363,271 1,363,271 Debt Debts falling due within 1 year (83,172) Debts falling due after 1 year (1,878,791) (1,961,963) Total (598,692)	2024 £ (308,498) 114,398 (1,767) (16,766) 64,752 1,571 (192,653) 738,486 399,523 Cash flow £ 215,519 215,519 (3,202) 87,847 84,645 300,164	2023 £ 111,121 122,595 (8,600) (10,745) 67,134 (736) 113,150 (549,733) (155,814) At 31.8.24 £ 1,578,790 1,578,790 (86,374) (1,790,944) (1,877,318) (298,528)

2. ANALYSIS OF CHANGES IN NET DEBT

The notes form part of these financial statements

Page 24

THE GREGG SCHOOLS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES

Charity information

The Gregg Schools Trust (formerly The Gregg and St Winifred'sSchool Trust) is a private company limited by guarantee incorporated in England and Wales. The registered office is Highland House, Mayflower Close, Chandler's Ford, Eastleigh, Hampshire, SO53 4AR.

Basis of preparing the financial statements

The financialstatements have been prepared in accordance with the Trust's governingdocuments, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice" applicable to charities preparing their accounts in accordance with the FinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Trust is a Public Benefit Entity as defined by FRS 102.

The financialstatements are prepared in sterling,which is the functionaland presentationalcurrency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financialstatements have been prepared un the historical cost convention. The principleaccounting policies adopted are set out below.

Going concern

At the time of approving the financialstatements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. This confidence comes from steps the School has taken to strengthen ties between the two Schools alongside the genuine investment in marketing. The Trust also have a strong 5 year strategy supported by well resourced marketingand admissions plans. The forward momentum created by improved pass rates and a focus on Student Support all assist in this. Ambitious housing expansion plans released by Southampton City Council demonstrate a continuingincrease in numbers within catchment as more land is developed - all positive news for student numbers.

Accordingly, the trustees have prepared the financial statements on this basis.

Charitable funds

Unrestricted funds are defined as income realised or generated for the objectives of the Charity without further specified purpose and which are available as general funds.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure, which meets these criteria, will be identified to the fund.

Designated funds are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

Fund transfers

Resources are transferred from Unrestricted Funds to Restricted Funds where expenditure meeting the criteria laid down by a donor of restricted income exceeds this income.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met or are fullywithin the control of the charity, there is sufficient certainty that receipt of the income is considered possible, and the amount can be measured reliably.

Fee income

Tuition fee income comprises gross termly fees less allowances and discounts made. This and all other income except certain donations, represent unrestricted funds.

Fees received in advance of education to be provided in future years under an Advance Fee Payments Scheme contract are held as creditors until either taken to income in the term when used or else refunded.

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continued...

THE GREGG SCHOOLS TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES - continued

Income

Tuition fees are recognised on a receivable basis. Amounts invoiced in advance are deferred and carried forward within creditors and accruals, whilst amounts due but not yet received in the year are shown within debtors and prepayments.

Deferred income - advance fees

Where income is received in advance of meeting any performance related conditions and there is not unconditionalentitlement to the income, its recognition is deferred and included in creditors as deferred income until the performance conditions are met.

Donations and legacies

Funds from the appeals to raise financefor buildingsand future capital projects are accounted for on a receivable basis.

Donations are accounted for on a receivable basis and are recorded in line with the stipulationsattached to them by the donor.

All income was generated in the UK.

Expenditure

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise the costs of marketing to attract students to the School.

Expenditure on charitable activities includes the costs of teaching salaries, and other educational activities undertaken to further the purposes of the charity and their associated support costs.

Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charges as a cost against the activity which expenditure was incurred.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activity. Support costs include the costs of office salaries, and governance costs which support the School in the provision of education. The bases on which support costs have been allocated are set out in note 8.

Borrowing costs

General and specific borrowing costs directly attributable to the acquisition and construction of freehold properties and added to the cost of those properties untilsuch a time as the properties are ready for their intended use or sale.

Tangible fixed assets

Tangiblefixed assets are measured at cost (or deemed cost for land and buildingsheld at valuation at the date of transition to FRS 102) less accumulated depreciation and any impairment.No lower limitis applied to individual items that are capitalised.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES - continued

Tangible fixed assets
Freehold land and buildings	1.43% & 10% straight line
Leasehold land and buildings	Over the term of the lease
Plant and machinery	15% straight line
Fixtures, fittings and equipment	15% straight line
Motor vehicles	20% straight line or over the life of the lease

Freehold land and assets in the course of construction are not depreciated. Properties in the course of construction are carried at cost, less any identified impairmentloss. Cost includes professional fees and other directly attributable costs that are necessary to bring the property to its operating condition. Depreciation commences when the properties are ready for their intended use.

The gain or loss arisingon the disposal of an asset is determinedas the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Specific borrowing costs directly attributable to the construction of freehold properties are added to the costs of these properties until such a time as the properties are ready for their intended use or sale.

Impairment of fixed assets

At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carryingamount, the carryingamount of the asset is reduced to its recoverable amount. An impairmentloss is recognised immediatelyin income/(expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impairmentloss is treated as a revaluation decrease.

Recognised impairmentlosses are reversed if, and only if, the reasons for the impairmentloss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairmentloss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks

Stock is valued at the lower of costs, being the purchase price, and net realisable value.

Cash and cash equivalents

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

Taxation

The charityis exempt from tax on income and gains fallingwithinsection 505 of the Taxes Act 1988 and section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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THE GREGG SCHOOLS TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimumlease payments. The related liabilityis included in the balance sheet as a financelease obligation. Lease payments are treated as consistingof capital and interest elements. The interest is charges to net income/(expenditure)for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

Classification of leases

In categorising leases as finance leases or operating leases, management makes judgements as to whether significant risks and rewards of ownership have transferred to the School.

Retirement benefits

The pension arrangementsof the charityare defined contribution schemes where the assets of the scheme are held separately from those of the Trust in an independentlyadministered fund. The pension cost charge represents contributions payable by the Trust to the funds during the year in accordance with FRS 102.

School deposits

School deposits are currently classified between long term and short term in the financial statements. These deposits are not refundablein the event that pupils leave the school on one term's notice and it is discretionary as to whether a refund will be made. Short term deposits reflect those pupils that will be leaving the school within one year, and the long term deposits reflect those pupils that will be leavingthe school after 12 months from the balance sheet date.

Financial instruments

The Trust has elected to apply the provisions of Section 11 'Basic FinancialInstruments'of FRS 102 to all of its financial instruments.

Financialinstrumentsare recognised in the Trust's balancesheet when the Trust becomes party to the contractual provisions of the instrument.

Financialassets and liabilitiesare offset, with the net amounts presented in the financialstatements, when there is a legallyenforceable right to set off the recognised amounts and there is an intentionto settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financialassets, which include debtors and cash and bank balances, are initiallymeasured at transaction price include transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangementconstitutes a financingtransaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financialassets classified as receivable within one year are not amortised.

Impairment of financial assets

Financialassets, are assessed for indicators of impairmentat each reporting date. Financialassets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

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THE GREGG SCHOOLS TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES - continued

If an asset is impaired,the impairmentloss is the differencebetween the carryingamount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairmentloss arisingfrom an event occurring after the impairmentwas recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carryingamount would have been, had the impairmentnot previouslybeen recognised. The impairmentreversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financialassets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Trust transfers the financialasset and substantiallyall the risks and rewards of ownership to another entity, or if some significantrisks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financialliabilities,includingcreditors are initiallyrecognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate interest. Financial liabilitiesclassified as payable within one year are not amortised.

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged or cancelled.

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the applicationof the Trust's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilitiesthat are not readilyapparent from other sources. The estimates and associated assumptionsare based on historicalexperienceand other factors that are considered to be relevant. Actual results may differ from these estimates.

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

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

3. DONATIONS AND LEGACIES

Donations 4. INVESTMENT INCOME Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES School fees receivable £ School fees 6,077,194 Less: scholarships (141,164) Less: bursaries (235,690) Less: other discounts (199,333) Learning support - Coach fares - Canteen - Miscellaneous income - Hire of facilities - 5,501,007 6. OTHER INCOME Other income Net gain on disposal of tangible fixed assets	Donations 4. INVESTMENT INCOME Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES School fees receivable £ School fees 6,077,194 Less: scholarships (141,164) Less: bursaries (235,690) Less: other discounts (199,333) Learning support - Coach fares - Canteen - Miscellaneous income - Hire of facilities - 5,501,007 6. OTHER INCOME Other income Net gain on disposal of tangible fixed assets	Additional school activities £ - - - - 31,608 233,784 262,716 19,309 2,000 549,417		2024 £ 4,125 2024 £ 16,766 2024 Total activities £ 6,077,194 (141,164) (235,690) (199,333) 31,608 233,784 262,716 19,309 2,000 6,050,424	2023 £ 4,413 2023 £ 10,745 2023 Total activities £ 6,279,018 (142,967) (218,514) (172,454) 66,399 248,066 219,373 29,637 6,702 6,315,260
				2024	2023
				£	£
				1,767	8,600

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Page 30

THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

7. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
School operating costs Welfare costs Transport costs Premises SUPPORT COSTS School operating costs Welfare costs Transport costs Premises	Support Direct costs (see Costs note 8) £ £ 4,279,294 462,719 388,391 41,997 397,039 42,932 694,148 75,060 5,758,872 622,708 General support Governance costs costs £ £ 423,542 39,177 38,441 3,556 39,296 3,636 68,705 6,355 569,984 52,724	Totals £ 4,742,013 430,388 439,971 769,208
		6,381,580
			Totals £ 462,719 41,997 42,932 75,060
			622,708

8. SUPPORT COSTS

The charity initiallyidentifiesthe costs of its support functions. It then identifiesthose costs which relate to the governance function. Having identifiedits governance costs, the remainingsupport costs are apportioned on the basis of direct cost per activity as a percentage of total direct costs for charitable activities.

Support costs, included in the above, are as follows:

General support costs

General support costs
School operating costs £ Wages 262,563 Social security 23,962 Pensions 18,538 Telephone 16,199 Postage and stationery 6,815 Other costs 95,465 423,542	Welfare Transport costs costs £ £ 23,830 24,361 2,175 2,223 1,682 1,720 1,470 1,503 619 632 8,665 8,857 38,441 39,296
		39,296

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

8. SUPPORT COSTS - continued

General support costs - continued

Premises £ Wages 42,591 Social security 3,887 Pensions 3,007 Telephone 2,628 Postage and stationery 1,106 Other costs 15,486 68,705 Governance costs School operating costs £ Auditors' remuneration 10,656 Auditors' remuneration for non audit work 2,929 Legal and professional fees 25,592 39,177 Premises £ Auditors' remuneration 1,729 Auditors' remuneration for non audit work 475 Legal and professional fees 4,151 6,355

2024 2023 Total Total activities activities £ £ 353,345 238,362 32,247 22,620 24,947 16,657 21,800 22,275 9,172 7,582 128,473 167,367 569,984 474,863 Welfare Transport costs costs £ £ 967 989 266 272 2,323 2,375 3,556 3,636 2024 2023 Total Total activities activities £ £ 14,341 13,710 3,942 3,030 34,441 29,823 52,724 46,563

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

	2024	2023
	£	£
Auditors' remuneration	14,341	13,710
Auditors' remuneration for non audit work	3,942	3,030
Depreciation - owned assets	114,398	122,595
Surplus on disposal of fixed assets	(1,767)	(8,600)
Operating lease charges	200,609	267,844

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

10. TRUSTEES' REMUNERATION AND BENEFITS

A trustees received remuneration, including employer's pension contributions and benefits, for teaching and administrative services to the schools, as follows, in line with the charity governing document:

	2024	2023
	£	£
S Sellers	98,686	95,881
	98,686	95,881

Trustees' expenses

During the year 0 (2023: 2) trustees were reimbursed travel expenses totalling £nil (2023: £883). 1 (2023: 1) trustee attended a safeguardingcourse at a cost of £70 per person (2023: £215 per person). This cost was met directly by the Trust.

The school has paid for Trustee Indemnity Insurance for the year, the insurance premium is included within travellers school insurance policy.

11. STAFF COSTS

Wages and salaries Social security costs Other pension costs	2024 £ 3,911,398 336,282 274,805 4,522,485	2023 £ 3,738,758 324,542 261,275
		4,324,575

The level of remuneration is set in accordance with the National Leadership pay scales. The highest paid employee is on level 27 (2023 - 27) out of 43 on this scale.

The average monthlyhead count and average monthlynumber of full time equivalent(FTE) employees during the year were as follows:

	2024	2023
	FTE	FTE
Teaching	59.4	57.3
Teaching support	12.7	14.6
Grounds, maintenance and admin	18.6	18.8
Drivers and cleaners	13.9	12.9
	104.6	103.6

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

11. STAFF COSTS - continued

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

Teaching Teaching support Grounds, maintenance and admin Drivers and Cleaners	2024 63 21 26 38 148	2023 61 23 25 37 146

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

£60,001 - £70,000 £70,001 - £80,000 £80,001 - £90,000 £90,001 - £100,000	2024 1 1 - 1 3	2023 1 - 1 -
		2

Contributions were made into Pension Schemes for the higher paid employees of £17,593 (2023 - £12,394).

During the year, two employees received redundancy payments totalling £19,101 (2023 - £nil).

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund £ INCOME FROM Donations and legacies - Charitable activities School fees receivable 5,745,083 Additional school activities 568,823 Investment income 10,745 Other income 8,600 Total 6,333,251 EXPENDITURE ON Charitable activities School operating costs 4,931,310 Welfare costs 377,820 Transport costs 298,441 Premises 610,449 Total 6,218,020	Restricted fund £ 4,413 - 1,354 - - 5,767 4,576 - - 5,301 9,877	Total funds £ 4,413 5,745,083 570,177 10,745 8,600
		6,339,018
		4,935,886 377,820 298,441 615,750
		6,227,897

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ NET INCOME/(EXPENDITURE) 115,231 (4,110) RECONCILIATION OF FUNDS Total funds brought forward 2,289,923 13,456 TOTAL FUNDS CARRIED FORWARD 2,405,154 9,346 13. TANGIBLE FIXED ASSETS Freehold Leasehold land and land and buildings buildings £ £ COST At 1 September 2023 5,275,231 271,205 Additions - - Disposals - - At 31 August 2024 5,275,231 271,205 DEPRECIATION At 1 September 2023 371,822 157,617 Charge for year 48,462 3,965 Eliminated on disposal - - At 31 August 2024 420,284 161,582 NET BOOK VALUE At 31 August 2024 4,854,947 109,623 At 31 August 2023 4,903,409 113,588		Total funds £ 111,121 2,303,379
		2,414,500
		Plant and machinery £ 197,365 400 - 197,765 168,725 6,504 - 175,229 22,536 28,640

Page 35

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

13. TANGIBLE FIXED ASSETS - continued

COST At 1 September 2023 Additions Disposals At 31 August 2024 DEPRECIATION At 1 September 2023 Charge for year Eliminated on disposal At 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023	Fixtures, fittings and equipment £ 1,103,997 46,574 (24,157) 1,126,414 943,266 45,834 (21,744) 967,356 159,058 160,731	Motor vehicles £ 130,371 8,579 (12,995) 125,955 116,618 9,633 (12,995) 113,256 12,699 13,753	Totals £ 6,978,169 55,553 (37,152) 6,996,570 1,758,048 114,398 (34,739) 1,837,707 5,158,863 5,220,121

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

COST At 1 September 2023 and 31 August 2024 DEPRECIATION At 1 September 2023 and 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023	Motor vehicles £ 8,703 8,703 - -

Land and buildingsare held at deemed cost following the transition to FRS 102. At 31 August 2023, had the revalued assets been carried at historic cost less accumulated depreciation, their carrying amount would have been approximately £4,001,603 (2023 - £4,050,065).

Page 36

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

14. STOCKS Stocks 15. DEBTORS Amounts falling due within one year: Trade debtors VAT Prepayments and accrued income Amounts falling due after more than one year: Other debtors Aggregate amounts 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 18) Trade creditors Social security and other taxes Other creditors Accruals and deferred income Fees invoiced in advance Fees received in advance	2024 £ 14,720 2024 £ 1,110,698 5,802 79,836 1,196,336 12,500 1,208,836 2024 £ 86,374 128,292 77,431 2,716 277,989 1,588,893 1,447,731 3,609,426	2023 £ 16,291 2023 £ 965,873 5,444 32,366	2023 £ 16,291
		1,003,683
		12,500
		1,016,183
		2023 £ 83,172 50,691 80,467 - 272,606 1,480,209 1,350,132
		3,317,277

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 18) Fees received in advance LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instalments	2024 £ 1,790,944 454,837 2,245,781 2024 £ 86,374 89,144 201,155 1,500,645	2023 £ 1,878,791 5,298
		1,884,089
		2023 £ 83,172
		86,099
		316,628
		1,476,064

18. LOANS

The trust took out a loan for £1,980,000 in February 2021 repayable over 20 years at an initial fixed rate of 2.9% for the first 84 months. The loan is secured by a second legal charge over The Gregg School and its associated assets.

In June 2021, a further loan for £200,000 was taken out, repaying the CBILS loan taken out in the previous year. The new loan is for 20 years with interest charged at a rate of 2.39% over the base rate. The loan also has a second legal charge over The Gregg School and its associated assets.

19. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year Between one and five years In more than five years	2024 £ 177,935 249,387 1,944 429,266	2023 £ 156,173 180,116 -
		336,289

Leases of land and buildings are subject to periodic rental reviews.

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted fund £ Fixed assets 5,155,699 Current assets 2,800,307 Current liabilities (3,609,426) Long term liabilities (2,245,781) 2,100,799 21. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	Restricted fund £ 3,164 2,039 - - 5,203 At 1.9.23 £ 2,405,154 9,346 2,414,500 Incoming resources £ 6,061,242 11,840 6,073,082	2024 Total funds £ 5,158,863 2,802,346 (3,609,426) (2,245,781) 2,106,002 Net movement in funds £ (304,355) (4,143) (308,498) Resources expended £ (6,365,597) (15,983) (6,381,580)	2023 Total funds £ 5,220,121 2,395,745 (3,317,277) (1,884,089) 2,414,500 At 31.8.24 £ 2,100,799 5,203 2,106,002 Movement in funds £ (304,355) (4,143) (308,498)

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS Comparative net movement in funds, included in the above are a Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	At 1.9.22 £ 2,289,923 13,456 2,303,379 s follows: Incoming resources £ 6,333,251 5,767 6,339,018	Net movement in funds £ 115,231 (4,110) 111,121 Resources expended £ (6,218,020) (9,877) (6,227,897)	At 31.8.23 £ 2,405,154 9,346
			2,414,500
			Movement in funds £ 115,231 (4,110)
			111,121

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	At 1.9.22 £ 2,289,923 13,456 2,303,379	Net movement in funds £ (189,124) (8,253) (197,377)	At 31.8.24 £ 2,100,799 5,203
			2,106,002

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THE GREGG SCHOOLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

21. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	Incoming Resources resources expended £ £ 12,394,493 (12,583,617) 17,607 (25,860) 12,412,100 (12,609,477)	Movement in funds £ (189,124) (8,253) (197,377)

22. EMPLOYEE BENEFIT OBLIGATIONS

Defined contribution schemes

The Trust previouslyoperated a defined contribution pension scheme and now pays employer contributions into a Group Personal Pension Fund. The assets of both schemes are held separately from those of the Trust in an independently administered fund.

The pension cost charge represents contributions payable by the Trust to the fund and amounted to £274,805 (2023: £261,275). Contributions totalling £37,429 (2023 - £36,139) were outstanding at the year end and are included in accruals and other creditors.

23. RELATED PARTY DISCLOSURES

Remuneration of key management personnel

The remuneration of key management personnel is as follows:

	2024	2023
	£	£
Aggregate compensation	185,725	170,611

See note 10 for information on trustees expenses.

During the year, payments of £2,250 (2023: £2,279) from pupil subscriptions were made to The Gregg School Parents Teachers & Friends Association - Charity Number 1088756, also known as FROGS (Friends of The Gregg School). The headteacher and trustee, Mrs S Sellers, is also a trustee of this charity. Receipts of £10,255 (2023: £2,884) were received back from this charity as donations in the year.

Balances due from this charity as at 31 August 2024 were £nil (2023: £nil).

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the Trustees as shown in the Trustees Report.

25. COMPANY STATUS

The Trust is a company limitedby guarantee. In the event of the Trust being wound up, the members' liability is limited to £1 each. There are 10 members (2023 - 10).

26. RESTRICTED FUNDS

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at 1 September 2023	Balance at 1 September 2023	Balance at 31 Income Expenditure August 2024	Balance at 31 Income Expenditure August 2024	Balance at 31 Income Expenditure August 2024
	£	£	£	£
Library Fund	5,138	-	(3,094)	2,044
Sports Facilities Fund	1,026	-	(500)	526
New Build Fund	742	-	(148)	594
Table Tennis Tables	124	-	(124)	-
HART Sound System	137	-	(137)	-
Pizza Oven	140	-	(140)	-
Christmas Igloo	848	-	-	848
FROGS Honey	1,191	-	-	1,191
Music Room	-	45	(45)	-
Gardens	-	26	(26)	-
Frogs/Open Event	-	118	(118)	-
Sister Act	-	4,754	(4,754)	-
Table Tennis Tables	-	860	(860)	-
Picnic Tables	-	3,440	(3,440)	-
Diguru Banner	-	1,038	(1,038)	-
Defibrillator	-	540	(540)	-
Silly Science Half Day	-	539	(539)	-
Gregg Prep Table Tennis Tables	-	480	(480)	-
	9,346	11,840	15,983	5,203

The Library Fund represents a specific donation received for conversion of a school building into a library. Expenditure relates to depreciation being charged over the life of the asset.

The Sports Facilities Fund was set up to raise funds for improving the sports facilities the school is able to provide its pupils. Expenditure relates to depreciation being charged over the life of the asset.

The New Build Fund represents a donation received to help fund the cost of the new building. Expenditure relates to depreciation being charged over the life of the asset.

The Table Tennis Tables Funds represent a donation received to fund and improve the sports facilities for the students at the school.

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THE GREGG SCHOOLS TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024

26. RESTRICTED FUNDS - continued

The HART Sound System funds represent a donation to help fund the cost of purchasingthe sound system in the HART building.

The Pizza Oven represents a donation for the purchase and construction of a Pizza oven. The oven itself has been capitalised and therefore part of the expenditure represents depreciation charged over the life of the asset. The rest of the expenditure represents revenue expenditure on the project.

Christmas Igloo represents funds donated, but have not yet been expensed due to the pandemic.

FROGS Honey represents funds received from the making of honey. £1,000 of this is to be repaid to FROGS.

The Music Room fund was a donation to purchase sheet music.

The Gardens fund was set up as The Friends of Townhill Park House and Gardens did not have access to their bank account for a period of time and wanted to purchase a leaving present for two of their members. The school lent FTHPHG the money which was then paid back out of their takings from Heritage day.

The FROGS/Open Event fund was a donation for purchasing art materials used to make products sold at the Christmas Fair.

The Sister Act fund was a donation to cover outstanding costs from the School's production of Sister Act. This included theatre and costume hire.

The Table Tennis Tables fund was a donation to provide new sports equipment for the Senior school.

The Picnic Tables fund was a donation to cover the cost of 8 out of the 10 new picnic tables needed to replace old ones at the Senior school.

The Diguru Banner was a donation to purchase bannersfor the FROGS and House events and 3 feather flags for the Senior school for open events.

The Defibrillatorfund was a donation to cover halfthe cost of the installationof a defibrillatoroutside of the Prep school.

The Silly Science Half Day fund was a donation to cover the cost of a Science workshop for PreP school students.

The Gregg Prep Table Tennis Tables was a donation to cover the cost of 2 new table tennis tables for Prep school students.

Page 43

THE GREGG SCHOOLS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

INCOME Donations and legacies Donations Investment income Deposit account interest Charitable activities School fees Less: scholarships Less: bursaries Less: other discounts Learning support Coach fares Canteen Miscellaneous income Hire of facilities Other income Gain on sale of tangible fixed assets Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Rates and water Insurance Light and heat Welfare costs Other costs Depreciation of tangible fixed assets Bank loan interest Parent loan interest	2024 £ 4,125 16,766 6,077,194 (141,164) (235,690) (199,333) 31,608 233,784 262,716 19,309 2,000 6,050,424 1,767 6,073,082 3,558,053 304,035 249,858 40,592 46,025 77,456 416,828 886,875 114,398 64,752 - 5,758,872	2023 £ 4,413 10,745 6,279,018 (142,967) (218,514) (172,454) 66,399 248,066 219,373 29,637 6,702 6,315,260 8,600 6,339,018 3,500,396 301,922 244,618 37,239 33,661 75,963 373,882 949,061 122,595 63,186 3,948 5,706,471

Support costs

This page does not form part of the statutory financial statements

Page 44

THE GREGG SCHOOLS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

Support costs General support costs Wages Social security Pensions Telephone Postage and stationery Other costs Governance costs Auditors' remuneration Auditors' remuneration for non audit work Legal and professional fees Total resources expended Net (expenditure)/income	2024 £ 353,345 32,247 24,947 21,800 9,172 128,473 569,984 14,341 3,942 34,441 52,724 6,381,580 (308,498)	2023 £ 238,362 22,620 16,657 22,275 7,582 167,367
		474,863 13,710 3,030 29,823
		46,563
		6,227,897
		111,121

This page does not form part of the statutory financial statements

Page 45

Issuer

HWB Chartered Accountants

Document generated Wed, 4th Dec 2024 9:02:57 GMT Document fingerprint 30cec5be1df304c84ba5c7a6bb2a28b3

Parties involved with this document

Document processed

Party + Fingerprint

Wed, 4th Dec 2024 16:13:07 GMT Wed, 4th Dec 2024 16:16:20 GMT Wed, 4th Dec 2024 16:16:20 GMT Wed, 4th Dec 2024 16:16:20 GMT

Jo Preston - Signer (3b1c799e7baaf4a85a2c52b92543dc06) Michaela Johns - Signer (9afd724e6d44e5c57e3caa9b17dc6123) Matt Pickett - Copied In (42a56c0c27c13c1f5be49bfba23d0063) Hayley Cooke - Copied In (ca947ae390bf4556a903b3562265fb18)

Audit history log

Date Action Wed, 4th Dec 2024 9:02:57 GMT Envelope generated by Accounts Department172.167.126.112 Wed, 4th Dec 2024 9:02:58 GMT Document generated with fingerprint aa721168547fae06e92bad1e6b45040b172.167.126.112 Wed, 4th Dec 2024 9:02:58 GMT Document generated with fingerprint ca4260cc9ce1983a59a743f96f30e54d172.167.126.112 Wed, 4th Dec 2024 9:02:58 GMT Document generated with fingerprint 84eb114f82bd388c03d60f78fe98365e172.167.126.112 Wed, 4th Dec 2024 9:02:58 GMT Document generated with fingerprint 36e38524f645732503fc32d794e00699172.167.126.112 Wed, 4th Dec 2024 9:28:25 GMT Document generated with fingerprint 30cec5be1df304c84ba5c7a6bb2a28b3172.167.126.112 Wed, 4th Dec 2024 9:28:25 GMT Document generated with fingerprint 8a291ab4a9184f2da745dd9b95661e48172.167.126.112 Wed, 4th Dec 2024 9:40:52 GMT Sent the envelope to Jo Preston ([e-mail]) for signing172.167.126.112 Wed, 4th Dec 2024 9:40:52 GMT Document emailed to [e-mail]3.9.171.142 Wed, 4th Dec 2024 15:14:35 GMT Jo Preston opened the document email.2.25.56.115 Wed, 4th Dec 2024 15:14:35 GMT Jo Preston opened the document email.2.25.56.115 Wed, 4th Dec 2024 16:10:39 GMT Jo Preston opened the document email.2.25.56.115 Wed, 4th Dec 2024 16:11:07 GMT Jo Preston viewed the envelope2.25.56.115

Wed, 4th Dec 2024 16:13:07 GMT Wed, 4th Dec 2024 16:13:07 GMT

Wed, 4th Dec 2024 16:13:08 GMT

Wed, 4th Dec 2024 16:13:08 GMT Wed, 4th Dec 2024 16:15:52 GMT Wed, 4th Dec 2024 16:16:20 GMT Wed, 4th Dec 2024 16:16:20 GMT

Wed, 4th Dec 2024 16:16:20 GMT

Wed, 4th Dec 2024 16:16:20 GMT Wed, 4th Dec 2024 16:16:20 GMT Wed, 4th Dec 2024 16:16:21 GMT Wed, 4th Dec 2024 16:16:21 GMT Wed, 4th Dec 2024 16:16:30 GMT

Jo Preston signed the envelope2.25.56.115 Sent the envelope to Michaela Johns ([e-mail]) for signing2.25.56.115 Document emailed to [e-mail]18.134.150.18 Jo Preston viewed the envelope2.25.56.115 Michaela Johns viewed the envelope172.167.126.112 Michaela Johns signed the envelope172.167.126.112 Sent the envelope to Matt Pickett ([e-mail]) for signing172.167.126.112

Sent the envelope to Hayley Cooke ([e-mail]) for signing172.167.126.112 This envelope has been signed by all parties172.167.126.112 Michaela Johns viewed the envelope172.167.126.112 Document emailed to [e-mail]3.8.85.172 Document emailed to [e-mail]18.133.227.189 Michaela Johns viewed the envelope40.94.94.52