Charlty reglstratlon number 1091089 (England and Wales) Company reglstration number 4301828 EGERTON ROTHESAY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
EGERTON ROTHESAY LEGAL AND ADMINISTRATIVE INFORMATION Tru5t8•s Mr Jonathan Cooke (Chairman) Sir Jeremy Cooke Mr Stephen East Ms Eleanor Margesson Ms Bethany Lewis (Appointed 21 September 20241 S•¢rotsry Ms Sarah Vest Charlty number 1091089 Company numb8r 4301828 R•glst•red olfko Egerton Rt)thg$ay SGhool Durrant$ Lang Berkhamsted Hertfordshire Unil¢d Kingdom HP4 3UJ Audltor AtÈts Westpoint Lynch Wood Peterborough C8mbridg¢shire Unf(ed Kingdom PE2 6FZ 8ank•rn Bardays Bank The Dacorurn Group 11 Bank Gourt Hemd Hempstead Herts HP1 1BX Investm•nt managers JM Finn & Co 25 Coplhall Ave London EC2R STA
EGERTON ROTHESAY CONTENTS Pagè Trustees, report Statement of Tru$lees' re5ponsibalitie$ Independent audrtofs report Slalement of finanrAal activities Balance sheet 10 Notes lo tho finarKial statements 11-22
EGERTON ROTHESAY TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST2025 The Trusteos prasent thèir annual rèport and fina81 statements for the year ended 31 Augus12025. The finarAal slalemen15 have been prepared in a¢cordance with the o¢¢ounling ptslicies Set out in note 1 to the n8n¢i81 ytatements and comply with the Charity's gtsvèming documènt, thè Companies Act 2006 and "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities p parlng their accounts in accudance wilh th• FinanGi¥l Reporting Standard applicable in the UK and Republic of Ii&land IFRS 1021 (effective 1 January 2C1191" ObJKtlve$ and a¢tlvltles The objects lor which Egertcn Rolhesay is established are'.- To further the education of children attending Eg•rton Rolhesay S¢h¢d. The advancement of education in the United n9orn and elsewhere (including Social 8nd physlcgl Irainingl of person5 and children attèndiny schools, ¢ollege$ or other places of education in which religious instruction in a¢¢ordance with the doth'nes and principles ol the Protestanl and evangelical faith is given. The Charfty dogs not undertake fundralslng. The Tru51ees have paid due regard to gUidae issued by the Charity Comml$sion in deri(ng what activities the Charity should undertake. gerton41othosay School Limit•d EgertOThllR¢)thesay School Limited is a whdly owned subsidiary of the Charity. 11 is man•god by a Board of Diredors whi¢h includes Mr Stephen East ¥tho represents the Charity. R•view of Development, Actlvltles and Achlov•mènts The School continues to cary into effect the charitable objeelives ol the Trust. The School conth'nues to build on its provèn abihty lo provide an educational environmenl whtritr pupils who need additional support can achleve their polenllal. The School's focus is being build 8round the lollowing key strands of acts'vity.. Providing an ex¢lling, relevant and supported educational experience. For students wh¢ have found, cf might find, it drffi¢ult to mak$ progres5 and succeed wthin anoih8r school where there is inadequate provision lor their speciffi¢ need$. To rnake a unique and excellent contribution into the life of eath chitd en8uiing that they can be 8UPPOrted in the way that they personally neèd to mAMISè thÈir Individual learning potential. Provide an environrnent offering gx¢&pb"onal p¥sloral care and spiritual development basad on and infomied by the Sehod's Christian ethos. Wrth this fo¢u$ w ¢onlinu• to draw thildren from a wde area- made possible by our 7-rthrt¢ seNice and lo also act 8s speclalisl education provider to 10 Local Authorities who pay full le•9 for 141, part fees for 1 and no part of tha f¢fr$ for 9 ¢hildrtrn with EHCP'S so they can att8nd Egarton Rothesay School. As we are now well established in the SEN morket both on the open market privatè fee payir¥J parents and local authoriti'e5, the n8od for Op8n days has r8du¢gd amountlng to orie possibly per year. The average number of pupils for the year was 158. The school ha$ ntInUed to develop ils Ilnks Ics the Ioc81 Christs'an community as p1 of Its own ministry. We intend to build fvrther network links with both ministers and youth activilies in th& are8 trA)Ih lor If benefft of our own ¢hlldr•n and to enable them to make a contribution for others.
EGERTON ROTHESAY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Futur• developments The Trustees are keeping tho current a¢tivities and objèctivès under review and ar¢ looking al opportunities lo further the objects of the Charity, in particular in relation to the S¢hooJ, bul will also gerwaly examine opportunities a$ and when they ¥rise. Flnanclal revi•w The rnain 8Ctivrties ¢1 the Charity are conducted Ihr¢ugh r(s subsidiary EgertotFRothesay School Limited and these are revi$wed in furth¥r detail overleaf. The School continued lo implement the conclusion$ from a review of how its activities Should be focused going forward. The Trustees continue lo Supp¢ thtr chge$ to thè School's opérations. C¢nbnued an¥ are in place to ensure that the School has SLfficient resoLJrces available to finance it5 oporations through tho period of ¢hange. The School made a profft after lax btrfore donation$ to the chxrity of £415,312, vthich is hlgher than the pr¢frt In the previou$ year of £184,194. During the year the ChaTity received a distriblrtion from its subsidiary of £216,417 12024: £275,OCrf)l and donations from parènts induding grft aid of £9.57912024- £8,364). At the year end dale th• fund5 of the Charrty ¢onsl$ted of unrestncted funds Of £2,832,994 12024- £2,623.4971 and re51riclgd fijnds of £nil12024 - £nil} giving totsl fvnds of £2,832,99412024- £2,623,497). Al th8 year end dale the fvnds of the Grwp con5181ed ot unrestricted funds of £3.854,08412024 - £3.445.6921 and restricted fvnds of £nil (2024- £nil) glvlng total fvnd$ of £3,854,08412024- £3,445,692). It is tre policy of Egerton Roihesay to hold reserves in unrestricted funds that have not yet been commtted or degnated lor any partlcular purposg. The Trustees have retslned these reserves in order to provide a sound financial base for the charity as part of o policy of good finana81 management practice. Having considerèd the medium tenr requirements of the Chariiy, a fvrther £200,000 was invested in a portfdio of investments created for the Charity by J M Finn & Co Limited in previous years. Thè remainder tsf the Charty's funds are retained on deposit. The Truste8s continue lo kèep the needs and objectivès of the Charity under regular re&w. The Trustees has assessed the major risks lo which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risk5. Rssk management in relation lo the operation of the School are govemed by its own risk rnanagernenl poliGi¥s and Fxocèdures overseen by its Board ofTrustees. Struttur•, govwnance and monagement The Trustees are lected and appointed in a¢¢ordance with theArtides of Egerton Rothesay. The Trvstees. who a also the directors for the purpose of company law, and who served during the yoar and up lo the date of signature of the finan¢ial slatemÈnts were.. Mr Jonathan Cooke Ichairmanl Sir Jeremy Cooke hAr SteFknen East Ms Eleanor Marge$son Ms Bethany Lws (Woint¥d 21 September 20241 Three ol the Twstees each h8vè a long #s$ociatic with Egerton-Rothesay Sch¢XJl Limited and intèrest in its work. Having revi¢wgd the charity's needs they were pleased to welcome Eleanor Beih as additional Trustees. Togelher tY bring a range of skills to their role as Trustees and review the skills necessary for performance of Iheir duti8s and any training requirèments at least annually. They believe they have available to them the skills necessary tc• enable th& Charity lo satisfy ils c4)jectives.
EGERTON ROTHESAY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Orynl$atlon•l Stru¢tur• Egerton RotheBay is vemely by 118 Twstee BoBrd which is r8sponsit4e lor setting the strategic dirtrction of the organisation and the policy of the charity. The Trusl•¥s carry the umimale responsibility lor the o)nduct ol the charitae company and for ensudng that tt)e charity satisfles rts legal and contractual obltgatJns. Trustèes m•8t bannualty and produce formal minutes of the meeting and d8Feg8ts day4041ay operation of the Organisalion to senior management. The Trustee Board Is Sndependant from managamént. Thè Directors of EgertorpRothesay Schoc4 Mited meet quarterty and woduce formal minut•$ of th• m¥•ting. During the meetings the budget and school pèrfomance is VIewed. Truste. Inter•sts The Charity is a company limiled by waranlee. h¥ving no share capttal, with all the Trustees being members of th• company. The liability oflhe Members is limited lo £1 each in the trnt ofwinding up the company. Charitablé Status Egerton Rolhesay Is Incorporatg(l a$ a ¢haritable company limited by guarwleg Icharity number 1091089, company number 43018281 and is govemed by rts Memor2ndum and Artides ofAs50ci8b"on. Audltor In accordance with the company's artldes, a resolutie proposlng thalA2ets be reappolnled as autJ6tor of the ompany will be pul at a Gènèral Meeting. The TnJ8tè&8' report was apwoved by the Board ofTrustees. StepAeTh ga6t Mr Steph•n East Trustee Dated". 081051202fr" .
EGERTON ROTHESAY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees. who are also the directOTS ol Egerion Rothtrsay for the purpose of Company law. are responsible for preparing the Trustses. Report anij th8 finan¢ial statements in accordance with applic4bl¢ law and United lfj'ngdom Accounting Standards (United Kingdem Generally Accepted A¢¢ounting PradiGg1. Company law requires the Trustees to prepare finanual slalement5 for each financial year which givo a true and fair view of the Statè of affairs of the Charity and of the incotDing resources and application of resources, induding the income and expenditure. of the charitable company for that yèar. In prepafirrfJ these finantyal statements. the Trustees are required lo". sèlect suitable accounts'ng policies and then appty them ¢onsislenlly', observe the methods and principles in Ihe Charrties SORP., make judgernenls and eslirnal$$ that are reas¢>nable and prudent". stsle whelher applieable UK Accounting Standards have been followtrd. subject lo any material departures disclosed and explained in the financial statements." and prepare the financial ststaments on thg going concom basis unless il is inapprc*Ptlate lo pr$sum& that the Charty 11 Continue in operation. The Truslegs are responbie for keeping adequate accounting records Ihal dlsdose with reasonable accuracy at any lime the financial position of the Charity and enable them lo ensure that the financial statements comply with Ihe Companies Act 20C6. They are also rosponsle for safeguarding the assets of the Charfty and herrE for taking reasonable staps for th? prevention and detection of Iraud and olhei iriegubariknes.
EGERTON ROTHESAY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EGERTON ROTHESAY Oplnlon h8vè audktad the financial statements of Egerton Rothesay {the 'Charty'l Ihe year ended 31 August 2025 whi¢h MPrIse Ihe statement of financial a¢bvitie$. the balance sheet and notes lo the financial statements, induding &gnifirant a¢¢ounling policies. ThÈ ffinancial reporting framework that has been applied in their preparation is applicable law 8nd United Kingdom Accounting Standards, Iuding Financial Reporting Standard 102 The Financ1 Rgporting standa applicable in the UK and Republic ol Ireland (Unrted Kingdom Generalty Aepted Accounting Practicel. In our opinion, the financial statements.. give a true and fair view of the state of the chaTilaile eompany's affairs as at 31 Augu812025 arKJ of it8 incomiThJ resources and application of fesources, for the y88r tn ended., have been properly prep8r&d in 8ccordanee wrfh Untted Kingdom Generally Acceplad A¢counling practi,. and have been prep8re(I In accordonce with the requlremenls of the ¢ompaniesAct 20C6. BMI$ lor oplnlon We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under th08e standards are further deribed in the Auditorfs responsibilities for the budil ol the fin8ncI81 statemènts 5action of our r¢port. We are independent of the Charty in accordance wlh the ethical rèquirements that are relevant to our audii of the financial statements in the UK in¢luding the FRC'5 Ethical standard, snd we have fulfilled our other ethical responsibilities in accordantè VAth these requifements. We believe that the audrt evId0n wè h8ve obtained 1$ sufficient and approprtate to provKle a ba8is our opini. Conclusions rolatlng to going eone•r In auditing the fInGIal ¥lat•m•nts, we have toncluded that the Tru8tee8' use of the wing concem basis of accounting in the preparslion of the financial statements is appropriate. Based on the work we havÈ performed, we have not Identified any material uncertainties relating lo events or conditions that. iThJiwdually or collectively, may cast signfficanl doubt on the Charity's ability to continue as a goin9 ¢on¢ern for a p&riod of at least tsvelve months from when the financial stat8m8nts aro aLrthorised for i&8ue. Our respon%bilrties and the responsibililio$ of th• Trustees with respe{ to gL¥ng ccmcem are described in thè relevant sections of th1$ port. <Xhèr Infommtlon The other infomialion comprises Ihe inforrnation included In th8 annual report other than thtr finar¢ial statements and our auditor's report Ihereon. The Trustees are responsib for th8 other information conlaned willNn the annual report. Our opinion on the finanu31 statements does not ver the other infomiatton and we do not exprèss any f(xm of assurance condusion thereon. Our rèsponsibility is lo read the other information and. in thiing so. considr whether tho other infomiation is materially inconsistent with the finaw¥l slal$tnents or our knowledge tsblained the coum of the audit, or othemse appears lo be materially misststed. If we identify such material inctsngslenty¢s or apparent matèrial misstatements, we ar¢ required to determine whether this gi$ rl$¢ lo a mater1 misstslement in the financial slalemènts themselves. If, based ¢n the work we have perfomed, condude that there is material misstatemert ol Ihis other information. we arg required to report that fxl. 14IÈ have nothing lo report in this gard. Matters on vthkh aro roqulrgd to report by èxc•ptlon We have nothing to report in resy¢t of th& following matters in tslation to vthith th8 Charities (Accounts ¥nd Reports) Regulations 2008 requires u$ to rèport to you rf. in our opinion". the infomiation given irt thè finanaal statement8 1$ inconsistent in any material resped Yhlh the Trusl¢es' report,. or SLfficient accounting rècords have not been kept,. or the finan¢ial statemènts are not in agreern¢nt vAth the accounting records.. or we have not received all the information and explanations we wuire for our audrt.
EGERTON ROTHESAY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EGERTON ROTHESAY Rèsponsibilitits of Tntstee5 As explained more fully in the statement of Trustees. responsitslithes, the Trustees, who are also th• dIrtOrs of the Charity for the purprjse of COTllpany1ow, are responsible for th8 preparats'on of the financial statements and for being satisf18d that they giv a true and fair view, and for such intemal trol as the Trustees determine is necéssary to enatlè the preparation of financial ststements that Mre free from material misstatement, whether due to fraud or error. In preparing the financial slalernenls, the Trustees are SPonSible for assessing the Charity's ability to ¢ontinue as a going concem. disclosing. as applicable. matters rslated lo going ¢oncem and using the going ¢oncern basis of accounting unless the Trustees either Inlend to liquidate the ¢haritable company or to cease oper'ons, or have no realistic allemative bul to do so. Audltof's re$ponslbllltie5 for th• audit of the finanetal siatement8 We have been appointed as auditor under section 144 of the Charities Act 2011 and report in aOIdanCe wlh 1he Aci and re¥&nI regulations made or havlng effect Iheieunder. Our objectives are lo obtain Teasonable assurance afr1t vthether the financial statements as a are free Irom material misstatement, whether due to fraud or error, and to issuè an audiloT'S report that in¢ludes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accoTdan¢è with ISAS IUKI will aayS delect a material misstalemenl when il exists. Misstatèments can arise frem fraud or error and are con¥dered rnalerial if, individually or in the aggregate, th¢y could reasonably be expeclod lo influence the e¢onomic dwsions of users taken on the basis ol these financial 51alements. A fvrther des¢nption of our responsibilities 1$ availab on the Financial Reporting Council's webgte at.. https-11 w.frc.org.ukjauditorsrespon5ibilities. This dèscription forms part of our auditorfs report. Ext•nt to which the audit vns consid•rÈd capabl? of detectlng irrngularltles. includSng fraud liregularities, including fraud, are instanrxs of nonrfompliance wth laws and regulations. We design procedures in line wth our responsibilities. outlined above and on the Financlal Reporting Council's website, to deted material mi5slatemenls in rèspect of irr8gLJlarities, including fraud. È obtain and update our understanding of thè entity. it$ ath"vities, ils ¢onlrol environment, and likely fijture developments, including in relation lo the legal and i&gulalory framewoTk 8ppli¢able and how the entity is complyng with that framework. Based on this understanding, we identify and assess the risks of malwial misstalemenl of the financial ststements, whether due lo traud or error. desvJn and perfomi audit procedures responsive to those risks, 8nd obtain audit eviden¢e that is sufficient and approprrate to provide a b8$is for our opinion. This includes consideration ol the risk of 8cts by the enttty that werè C(trary to applicable laws ond regulations, induding fr8u<J. In fesponse lo the risk of irregularities and nonCoMplan¢9 wth laws and regulations, induding fraud, w• designed pro¢•dures 1¢h included.. Enquiry of rnanagement ¥nd those charged with govgmarrR around actual and potential litig8lion and daims as well as actual, suspected and alleged fraud.. Reviewing Minutes of rneelings of those charged with 9ovemance', As$èssing the Èxtent of compliance wlh thè laws and regulations ¢onsidered to have a direct material effe¢t on the financial statements or the operations of thè entity through enquiry and inspection., Reviewing financial statement disdosure5 lesling lo supporting do¢umentation lo assess complian¢e wrth 8pklicable laws and regul*"ons', Perfomiing audil work over the risk of mana9emenl bias and override Qf controls, including le51ing of journol entries and other adjustments for appropriateness, èvalualing the business rationale of sigrmficanl IransacliDns outside normal course ol buwness and reviwing accountin9 eslirnales for indItorS of potential bias. Becau8e of the inhergnl limitations of an audit, there is a risk that we will not detect 811 irrggLlarili85, induding those leading to a matèrial misslalement in the financial statements or norxompliancé wth regulation. This risk increases the more that compliance wth a law or regulation Is removed from the events and transactions refl¢cted in the finan¢io1 slalements, as we will be less likely to become ¥war8 of instsn¢es ol noTrcompliance. Th¢ risk ol not detecting a materi81 misstatement resulting from fraud is 9her than lor t)ne resulting from error, as fraud may invofve collusion. forgery, Intention81 omissions, misrepresentation$, or the overrfde of internal ¢wtrol.
EGERTON ROTHESAY INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF EGERTON ROTHESAY Use ol our report ThFs report is made solety lo tl* ¢harily'$ Iruslees. as a body, in a¢¢ordanc• wth Part 4 of the Charrties IA¢¢ounts and Reports) Regulation5 2008. Our audrt work has been undertaken 80 that we mlghl slate to the charivs trustee8 those matters we are required to stale to th$m in an auditor's report and for no oth¢r putpos8. To the fLdlesl extent permitted by kw, we do not accept or assumè responsibility to anyone other than the ¢harty and the charitys trustees as a bo¢Jy, for our audit work, for this rep¢Jrt. or for the opinlons we have formed. Mr Mark Jackson FCA DChA (Senlor Statutory Audltorl for and on behalf of Azets 1.1.:.6.:..g.o.Z.6 Chartered A¢¢ountants Statutory Auditor Wèstpoint Lynch Wood Pelerborough Carnbridgeshire PE2 6FZ ets is eligible for appointment as auditor of Ihe Charity by wrtue of its eligilty for apFQrtment 8$ auditor of mpany under section 1212 of th¥ Companies Act 2006.
EGERTON ROTHESAY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Group Unr¢stri¢t•d Unrestricted funds funds 2025 2024 Notes Donation$ and legacies Other trading activities Inveslments 9.579 5,969,641 17,686 8,364 5.591.586 15,095 Total Incom¥ 5.996,906 5.615,045 Olhei trading aclivitbes Charitable activities Interest pay8• Tax expense 5.559,567 58,449 6,480 11,6241 5.394.163 65,513 8,165 5,126 Total rèsour¢es •xpgnded 5,812,872 5,472,987 Ngt gainslllossesl on investrngnts 12 24,358 38,314 Net movemont In fun(Is 408,392 180,372 Fund balances at 1 September 2024 3,445,692 3.265,320 Fund balance$ at 31 August 2025 3,854,084 3.445,692 The 6ts18ment of financjal activities include5 all gains and losses recogni5ed in the year. The statement ol finanTh81 activities incjudes all gains and losses r8¢ognised in the year. All income and expendllure derive from cmlinuing aetivlb'es. The stslemeni of financial aclivili$s also complies wilh IhÈ requirements for an Incon and expenditure account under the CcMpanie5 Act 2006.
EGERTON ROTHESAY CONSOLIDATED BALANCE SHEET ASAT31 AUGUST2025 2025 2024 Notes Flx•d ass•ts Tangible assets Inv?¥lment 13 14 2,03S.842 764.989 2,152,932 531.411 2,801,831 2.684,343 Curr•nt as8•ts Debtors Cash at bank and in hand 16 34.618 2.987,702 13,221 2,183,224 3,Q22,320 2,196.445 Crgdltors: •mounts f•lllng du• within on• y•ar 18 11,830,433) 11,251,443) Nel euttent èssets 1,191,887 945.002 Totsl ass•ts l•ss cuYr•nt IlabSlltl•s 3,993,718 3,629.345 ¢redllors- amounts falllng due after more than one year 19 183,677) 1116,0721 Provlslons for Ilabllltl•s 155.957) 167,5811 Net assets 3,854,084 3,445.692 In¢om* fund$ Unrestricted knnds 3.854.084 3.445.692 3.854.084 3,445.692 The company is entiiièd to thè exèmption from thè audrt lequiremt contalnÈd In sÈ¢tion 477 of the cOmpansACt 2006, for the y¢ar &nd$d 31 August 2025. The directors acknowledge their responsibilities for complying with the requirernents of the Companies Art 2006 th respect to accounting records and the preparation of financial statemenls. These financial $latem¥nls h8ve bgen prepad Sn 8c¢orfJance wth the pro810n9 appliCae lo companies subject lo the small companies reylme. The fin8n¢ial statements were approved by the Trustees on Q810512ff26""" Mr Stephen East Trustee Company R8glstrallon No. 4301828
EGERTON ROTHESAY BALANCE SHEET ASAT31AUGUST2025 2025 2024 Notes Fixed a$sèts Investments 14 1,512,830 1,279,252 Currènt assets Dèbtors Cash at bank and in h¥nd 16 6.182 1,334,042 5,373 1,354,092 1,340,224 1,359,465 CTèdltors: amounts falllng du• wlthln one year 18 120,0601 115,2201 Net current assets 1,320,164 1,344,245 Total ass•ts less current liabllltl•$ 2,832,994 2,623,497 Incom• funds Unrestricted fund$ 2,632.994 2,623,497 2,832,994 2,823,497 The company 15 gntided to the exemptson from the audit requirement Cltalned in section 477 of th$ Companies Act 20(, for Ihe year ended 31 August 2025. The directors aCknoedg& their responsibilities for complying with the requifements of Compaiie5 Ad 2006 with respect lo accounting records and the preparation of financial statements. The members have not required the cornpany to obtain an audit of ils financial slalem8nls under Ihe reqrements ol the CompaniÈsAct 2006, for the year in question in aordanCe with sèction 476_ These financial stslemnts have bogn prepared in accordance qlh the Provisions appliGable lo Com19$ subject to the small companies regime. Th* financial statements wore approved by the Truslegs on8810512626...... SV£m gaat Mr Stephèn East Trustoe Company Registratlon No. 4301828 10-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcl•s Charity infomiotion Egerton Rothesay is a private company limited by guarwrtee incorporated in Engl¥md and Wdes. The registered offiGe is Eg&rtcx) Rolhesay ScF¥Jol, Ourrants Lane, Berkham$led. HertfCdshl, HP4 3UJ, Urited Kingdom. 1.1 Accounting ¢ortvention The financial stslements have b¢¥n pr•parèd in accordance with the Charity's g)verning document, the Companies Act 2006 and "A¢¢ovnts"ng and Reportin9 by Charities.. Statement of R&commended Practice applicable to ChareS preparing their accounts in a¢¢ord8n¢ wllh the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢live 1 January 20191 The Charity Is a Putlic B8nefit Enlity as d¢fined ty FRS 102. The Charity has taken advantage of the provisions in the SORP for charities •pplying FRS 102 Update Bullethn 1 not lo preparè a Statement of Cash Flows. The financial slalements are prePad In slerting. vthl¢h Is the fundlonal GurrgnGy of Ihg Charity. McThlary amounts in these )Inanal statements are rounded te the nearest £. The financlal ststemenl$ have boen propared under the historical c05t convention. The Principal accountsng pdicies 8dilPted are set OLrt behw. 1.2 Golng concern At the lime of approving th¢ financial statèments, the Trustees have a reasonable expectation that the Charity has adequate resources l() ¢onth"nue In opefational existence for the foreseeable future. Thus the Trustees continue lo adopt the going wncein b¥si$ of arUntIng in preparing the financial statements. Further. forecasts and tr&Jsinèss plans havè bèèn prepared thi¢h provide comfort thal the Group and Charity will continue to trade in the foreseeable future. 1.3 Charltable funds General unre51ri¢ted furmls rpresent funds which are eXpendae at the discTelion of the Trustees in the furtherance of the objects of the Ch8rfty. Restricted lunds represent fvnds whi¢h have been donated to the Group for a specific purpose. 1.4 Incom• Voluntary in¢cffle represents donations reCeId by the charity. and are a¢¢ounted for wh¢n rrf•ivÈd. Inv¥slmgnt income r8w¢sents bank interest receivable. other trading altieS reyesents amounts receivable for schoc4 fees and similar income phjs other operating income of the subsidiary Egerton-Rolh¢5ay School Limited. Revenue from school fees and similar income is recogni8ed in the term In which thè services are provided and when.. the amount of revenue can bg rneasured rgllably". and il is probab that the company will re¢eivè the considaration du&. Renue is d8ferred vknere reVed in advance ol the service. 1.$ Expendlturo Expendilwe is ro¢¢gni8ad M 8n 8ccru81s basi$ and lthan thera is a legal or con5trLrtNe obligation to do so. Charitable aCtltIeS rewesents the legal, wofessional 8nd other costs ol runnlng (arty. Olhtrr trading aclNilies are those costs incurred by the trading adivty of the subsidiary EgertoTrRothesay School Limited. 11
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcle5 Icontlnuedl 1.6 Tanglble fix•d as$•ts l assgts cosllng £500 or MO are capilalised and depreckled. Tangible fixed assèts are initially measured al cost aThJ sub$Èquenlly measured at cost or valuation. net of depreciats.on and any impairment ivsses. DepreGiation is recognised so as lo vrrile off the c¢$t valtion of assets less th?ir redUat value$ over IheiT usefvl lives on the following base5.' FTeehold land and buildings Flant and equipment 2% straight line 3 Its 8 years 8tr¥ight line The gain or 1058 arising on the disposal of an asset is deletmined as the difference between Ihe le proceeds and the ¢8rrying value of the a$set, and is rècognised In the statement of finanrAal aclivilias. 1.7 Flxèd asset investmènts Inve51menls for the charity are stated al m¥rk¢t value. Realised and unitralised gains and losses c investments are ¢(gnISed in the Statement of Financial Aetwthes. 1.8 Impoimiènt of fixed a$$ets Al each reporting end date, Ihe Charity reviéws the carrying arnounls ¢f its tangible ?ssets lo detem)ine whether there is any indication that those 8s$éts have sufféred an impalrment loss. If any such ind¢?li¢)n e$ts. the recoverdble amwnl of the asset is esbmated in order to determina the extent of the impairment loss Irf any). 1.9 cash and cash equlvalents Cash and cash equivalents IlL#e cash in hand, deposlts held al Call bank$, oth8r short4erm liquid invèstments with ¢riginal maturities of three monlhs or les5. and bank overdrafts. Bank overdrafts are shMI thin borrowings in current liabilities. 1.10 Finan¢lal Instmments The Charity has ele¢ted to appty the provisions of Seciion 11 'Basic Financial Instruments. and sec'On 12 'other Finana81 In51nhments Issues, of FRS 102 10 811 of its finan¢ial instruments. Financial instruments arg recognised Wb Ihe Charty's balance sheet when the Charity becomes party to Ihe ¢cffltractual pnvisions of instrument. Financial assets and liabilities are offsèt, with the nel amounts presented in the financial slalemenls, when there is a lègally enforceable nght to sel off the recognised amounts and there Is an Intention settle on a nel basis or to realise the asset anfj settle the lialIty simultaneously. Basic flnanclalassèts Basic financial assets, vthid) indude debtors and cash and bank balances, are initially measured at tr8nsaction pri¢$ including transaclion cost5 Mnd are subsequenlly carried al amortised cost using the effective interest method unle95 the arrangemènt conslilules 8 financing Iransaclion, where the transaction is measured at the presènt value of the fulure receipts discounted at a market iale of interest. Financial a55&1$ classified as receivablè within one year are not amoth"sed. 12-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Accountlng pollcSes Icontlnuedl Basic flnancial liabilities Basic financial liabilities, induding ¢redilors and bank loans are inilialty rewgnised at transoOn price unless the arrangement corsstilutes a financing transaction. where the debt instrument 1$ measured al th& pres¥nl value of the future payments discounted at a m8rkÈt ratè of interÈsL Financi81 liabilitiès eJ8AsifiÈd as pAyÉblÈ thin one year are not amortised. Debl instruments ¥r& $ubsgquenUy corned at amortised COBt. using the effective interest rate method. Trade creditors are obligation8 lo pay for go¢ds or serS that have been acqured in Ihe ordinary course of operations from yuppliers. Amounts payable are cl8ssrfied as current liabilities if paym8nt is due wrthin one year or less. If not, they are presented as non-currenl liablities. Trade credltors are i•¢ognis•d Initially transaction e and subsequently me*sured at amortised cost using the effeCte Inteiest method. Dere¢ognltlon of Ilnanclal Ilabllftl•s Financial liabilities are derecognised when the Charity's contra¢tuo1 ¢bligatn5 expire or are discharged or ¢on¢elled. 1.11 Tjxatton Egèrttsn Roth8say is a charitabl• company and does not cary out actNty that would te subject lo corporation tax. EgertoTrRolhesay School Limited. a subsidiary of Egerton Rothesay, is subject to Ctxporation tax. 1.12 R•tlr•m•nt bonefits The Company operate5 defined contribution plans for its &mpksyoes. A defined ntrIbutiOn pl 1$ a pension plan under which the Company pays fixèd contributions into a separate entty. Once the ¢ontribub"ons have been paid the Company has no further payrnent obligations. Tha contributiorts are recognis8d as an expense in the Statement of Ccfflprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The asse15 of the plan are held separately from the Company independenty administered fund& 1.13 DistrIbUtnS Drslribulign$ lo thè charity from th& subsidiary are recognised when IW we paid. Dislribulions are eliminated on n8011da110n. Crltlcal accounting estimatss and judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements, ostim81•s and a$$umpllons aboLrt the carying amount of assets and liabiifa'es that are not readlty apparent from other sour¢es. The e$limate$ and a$$ociated assumptions are based on hislofical experience and othor fxdors that arè eonsid•rÈd to be relevant. Actual results may drfler from these estimates. The estimates and undertying assumptitsn$ 8re revièwèd on an ongoing basis. Revisions to attountrng estimates are recognised in Ihe period in which tho eslimalè is rèvisèd vA)ere the revision affects o)ly Ih8t P8ric¢J. or in the period of the ievision and future peri¢6 where the ievision affeGts both curTenl and future P8riods. 13-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 Donatlons and lègacles Charlty 202S ChaT5ty 2024 Group 202$ Group 2024 Donations frorn parents includin9 gift aid Distributions from svbsidiary 9,579 218,417 8.364 275.000 9,579 8.364 225,998 283,364 9,579 Other tradln9 actlvltles Charlty 202 Charlty 2024 Group 2026 Group 2024 School fees and similar income 5.969,641 5,591,588 Investments Charlty 2025 Charlty 2024 Group 2025 Group 2024 Interest reeeivable 17.593 15,013 17,686 15,095 Raising funfls Charlty 202$ Charty 2024 Group 2025 Group 2024 in School expendture 5,559,567 5,394,163 5,559,567 5,394,163 14-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Charltable actlvllles Char5ty 2025 Charlty 2024 Group 2025 Group 2024 Legal and professional fees Investment management fees 50,076 8,373 51.894 13.819 50,076 8.373 51,694 13,819 58,449 65.513 58,449 65,S13 Induded in legal and professional fees is £12,50012024 - £20,000) which relates to sèrvicès purchased from MaT$h811 Lu¢a8 fc* the ye8r. They have b8en disclosed as a related party tr8nsacb.on in note 23. TrustO•$ None of the Trustee8 (or any [sonS connect9d wth them) recelved any remuneration or beneffts frcm the Charity dUrir the year. Enyloyees The average monthly number of employees during the year wa8.. Chartty 2025 Charty 2024 Group 2026 Group 2024 Average number of Trustees Average number of employees 156 159 161 Charity 2026 Charity 2024 Gmup 2026 Group 2024 Wages and salariès Socwl security Gosts Othol p•n$ion costs 3,334,636 313,538 580,496 3,279.029 272.254 568,645 4,228,670 4.119.928 15-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Employees {Continuedl The number of employe85 05* annual remunerabDn was £60,000 or more were.. 2025 Number 2024 Number £70.001 - £80.000 The key manègement personnel of the Group are deemed by the Trustees to be the members of the 'Managemenl and Laadership Tèam,. During the year there were 13 memb¢r$12024- 13 members) and their lotsl remuneration was £664,601 12024 - £647,961). This includes pension contribulvjns of £97,381 12024 - £104.704). 10 Taxation The charity is exempt from taxation on it5 aclNiti$s because all ils income is applied for tharitable purptsses. 11 Audltof$ remuneration Fees payable lo ¢harilVs auditor and asso¢i8le$'. 2025 2024 For audlt 5ervl¢e$ Audit ofthe fInCIal ststem•nls oflhe charity 13,400 12,550 For other sarvlces All other non-audil services 4,140 3,875 12 Net galnslllos5esl on Investments Charity 2026 Charity 2024 Group 2026 Group 2024 Rtralised gainlllossl on investment Unrealised gainlllos5} on investment 27,068 12.7101 (4,9081 43,222 27,088 12.7101 14,9081 43,222 24,358 38,314 24.358 38,314 16-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 13 Tangible fu•d •ss•ts Frtohold land and bulldings Pknbtt and gqulpm•nt Totsi Group only Cosl At 1 September 2024 Additions 2,675,839 799.186 14,314 3,475,005 14,314 At 31 August 2025 2,675,839 813.480 3,489,319 D•pr•clatlon and Impainnent Al 1 September 2024 Depredation Gharged in the year 839,916 52,549 482.157 77,855 1,322,073 130,404 At 31 August 2025 892,485 560.012 1,452,477 Carrylng amount At 31 August 2025 1,783.374 253,468 2.036.842 At 31 August 2024 1,835.923 317,009 2.152,932 17-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 14 Flxed asset investments Charity and Group Llsted Invèstments Cost or valuatlon At 1 September 2024 Additions Valuation change5 Disposals 531.411 228,171 30,294 {24,8871 At 31 August 2025 764,989 Carrying Amount At 31 August 2025 764,989 At 31 August 2024 531,411 Subsidlary undertaklng Charity Group Cost AI 31 ALQUSt 2024 and 31 August 2025 747.841 In the opinion of the Trustees. the aggregate value of the Charity's Snveslment in subsidiary undertaking5 IS not less than the amount included in the balance sheel. ompany Company number Shartti held Class Ordinary E9ertorpRothesay School Limited The main activities of the CharSly are conducted through its subsidlary EgertoTrRolhesay School Llmited. The aggrtrgate amount tsf capil81 and reserwes and the resuhs of these undertakings for thè last revant financial year were as follows". 02226604 100 Capital and reserv•s In¢om• Expeffidlturo Proflt for th9 y•ar EgertonwRtsthesay School Limited 1,768,931 5.969.732 5.554,420 415,312 The registered office of the subsidiary is the same as for the Charty. 18-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 15 Financial Instrum•nts CharSty 2025 Charlty 2024 Group 2025 Group 2024 Carrylng amount of flnanclal assets Listed investments Cash and cash equivalents 764,989 1.334,042 531.411 1.354,092 764,989 531.411 2,987,702 2,183.224 2,099,031 1,885,503 3,752,691 2,714,635 Carrying amount of fin#n¢lal Ilabllltl•s Trade credrf(or$ Othw ¢r&¢titors Accruals Borrowings 49,440 47,988 33.650 115.265 53.840 68.412 27.770 146,031 20,060 15,220 20.060 15,220 246,343 2,053 16 bt0$ Charity 2025 Ch•rity 2024 Group 2025 Group 2024 Amounts falllny due wlthln one y•ar. Trade debtors Olhèr debtors Ptepayynents and a¢¢rued income 13.033 15,817 5,768 6,182 S,373 10,629 2,592 6,182 5,373 34.618 13,221 17 Loans and overdrafts Charity 2025 Charlty 2024 Group 2026 Group 2024 Bank loans Other loans 22,894 92,371 33,936 112,095 115,265 146.031 Payable wlhin one year Payable after ontr year 31,588 83,677 29,959 116,072 19-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 17 Credltors: amounts falllng du• wlthln om year Charty 2025 Charlty 2024 Group 2028 Group 2024 Notes Bank loans Other borrowngs Taxation and soaal seujrity P8yments recèive¢J on 8c¢ount Trade creditors Other creditors A¢CalS and deferied incorne 17 10,220 21,368 440,306 1,227,461 49,440 47,988 33.650 9,413 20.546 60,871 1.010,591 53,840 68,412 27.770 20,060 15,220 20,060 15.220 1,830,433 1.251,443 Included in group other creditors is pension contributions payable of £47,98812024- £68,412). 18 Crèditors: amounis falllng du8 aftèr mor• than on• yèar Charity 202S Chariiy 2024 Group 2025 Group 2024 Notes Bank loans Other boThowings 17 12,674 71,003 24.523 91,549 83,677 116,072 8tcur•d h)an$ Banking faGililies ?re serured by the first gaI char98 ovér tha sita al DLtrrants Lana, Bèrkhamst8d, Herts, HP4 3UJ. Interest on bank loan5 is paid al 2.25% above the base rate. In 2013 a secured loan facilty was taken out for £300,000 in order to acquire the Woods Building which was previously rented. The year end balance is shown above within other borrowings and is secured by way ol a s¢¢ond legal charge over th& Durranl$ Lan$ sile. Interest on other loans Is paid at 4%. 19 Provlslon8 for deferred laxatlon Charfty 2025 Charlty 2024 Group 2025 Group 2024 At beginning otthe year Charge for the year 67,581 111,8241 62,455 5,128 55,957 67.581 -20-
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 21 Retlrement benefit •¢h•m•s D•flned contrlbutlon scheme$ The group operattrs ¥ defined contribution pension s¢hème for all qualifying emFAoyees. Th¥ assets of the scheme are held separatety Irom thc*se of the group in an independently administered fund. The pension cost charge lepr9nIS ¢ontribubons payable by th¥ group and amounted to t580,679 12024 - £122,643) in relation to defi1 c¢ntributign schemes. Dgfingd bon•fit schomes The group contributed to a defined benefrt Mult&mpIOYer pension schem¢, thfy Teachers Pensicfi Scheme (rpsi. Thls is an aggregate of the pre 2015 $¢h&me and the 2015 scheme. Conlrfbubons to the scheme wèrè delerrnined on the basis of quadrennial a¢tU8ri81 valualions carried out by the GovemmenlActuary. The Latest aduarial valuation try the TPS was carried out a$ at 31 March 2020. This sets out the contribution rat•s for the implementation period (1 April 2024 to 31 March 20271. The key elements of the valuation and subsequent consultation are". employer conlribub.on ratès set at 28.68% of pènsionable pay lincluding a 0.08% employer administration chargel total scheme liabilities {pen8itsn$ ¢urrently in payment and the e$limat•d cost of future ttneftsi for service to the effectivè datè of £262.000 million. and nob.onal assets (estimated future contribulions together with the notional inve51m¢nls held at the valuation dats) of £222,200 million giving a notional past serviGe deficit of £39.800 million the SCAPE rat8. set by HMT, is Ljsed te detem)ine the notictnal investmènt return. The current SCAPE rate is 2.4¢A above the rate of CPI. The assumed real rate of relum is 2.4% in excess ol prices and 2% in excèss of eamings. Thè ratè of real eamings growih 18 assumed lo be 2.2%. The assumeé norninal rate ol return including earning8 growth is 4.45%. The ¢ontributions during the yèar totallèd £Nil12024- £347.8751. A ¢opy Ctfthe valuation report and supporb'ng documentation is on the Teachers, Pension website. Under the definikn'ons set out in FRS102. the TPS is an unfunded rnullpemployer pension scheme. The group has recoyni5ed ¢onlributions to the s¢hemÈ As if it were a defined contribution s¢heme. Contributions lo18lling £Nil 12024 - £30,355) weie payable in respect of pen&on$ al the year end and are included in httr ¢rèdrtors. Th• School exited the Teather$' Pension Scheme on 31 August 2Q24. staff who were members ol the scheme were tran6ferrèd to 8 ijefined contribution scheme. 22 Analysi¥ Of n•t assots between funds Unrestrleted fvnds 2025 Al 31 August 2025- Tangible assets Inve$lm¥nts Current assetsllliabilitiesl Long term liabilities Provisions 2,036,842 764,989 1.191.887 183,6771 155,9571 3.854,084 -21
EGERTON ROTHESAY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 22 Analy81$ of not aets bètween fvnds Icontlnued Unrestrlctod funds 2024 At 31 AugUSt 2024: Tangible asstts Investments Current assetsllliablllliesl Long term liabilities Provisions 2.152,932 531,411 945,OQ2 1116.0721 167,5811 3.445,692 23 R•lat8d party transaction$ The Group has taken advantage of the exemption permitted by FRS 102 Section 33 "Related P•ty Oisclosure5" not lo provide disclosures of tr8nS¥Ctions entered into with olh&r wholly owned rnembers of the Group. Th¢ loan taken out lo purchaso the previousty rented Woods building is providèd by Pact Holdings Limited as tN51ee of God Save Britain Crusade (registered charity number 262703). Mr J C Cookè and Mr S J East are directors ol Pact Holdings Limited. The loan was lor £300.000. The loan amount outstanding al the year end was £92.37112024- £112,905) David Ve5ey, Dlre¢tor of Egerton-Rolhesay School Limited, operate8 as Marshall Lucas. Durn)g the year, the charity purchased services in the ordinary course ol business from Marshall Lucas amounting to £12,500 12024- £20,000). Chery Martin was appointed a5 Director of Egerton-Rolhe$ay School Limited on 1 January 2023 and sinc8 this date Mas provided consuttancy servicès to the Charily amounting to £22.80012024 - £20.4001. 24 Analysls of changes in ngt funds At 1 Sèptèmber 2024 ¢ash fl At 31 August 2025 Cash al bank and in hand 2,183,224 804,478 2,987,702 Logns falling due within one y?ar Loans falling due aftor more than one year 129.9591 1116,0721 11,6291 32,395 131,5881 183,6771 2,037.193 835,244 2,872,437 -22-