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2025-08-31-accounts

Registered number: 04390208 Charity number: 1093165

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

GOVERNORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the School, its Governors and Advisers 1 - 2
Governors' Report 3 - 10
Governors' Responsibilities Statement 11
Independent Auditors' Report 12 - 15
Statement of Financial Activities 16
Balance Sheet 17
Notes to the Financial Statements 18 - 31

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

Governors A Bock BSc MRICS (resigned 20 March 2025)
M A Casini BSc
A J Churchill OBE MA FREng FRAeS FIET
Professor K J Dell MA DPhil PhD DipLCM
S Gould BA(Hons) FCIPD
J R Hart BSC (Hons) MRICS (appointed 7 April 2025)1
E J F Hattersley BA (Hons)
E A Haydon MBE BSc PGCE NPQH
C D Hibbs BSc (Hons) FCA1
N P H Hillman OBE MA (appointed 7 April 2025)
B Hughes BSc (Hons)
R L Johnson BSc (Hons)
K Joshi MA (Cantab)
D Lloyd MSc MSt PhD CEng FIChemE CMIOSH (appointed 16 April 2025)
M J C Needham LLB1
E M Shires BA (Hons) FCA, Chairman1
N C Walford BA
S Wan BSc MBA DipM
J D Wyld BA (resigned 17 June 2025)
1Audit Committee Member
Company registered
number 04390208
Charity registered
number 1093165
Registered office The Bursar's Office
Repton School
Repton
Derbyshire
DE65 6FH
Principal operating Foremarke Hall
office Milton
Derbyshire
DE65 6EJ
Clerk to the Governing R D Mair BA (Hons)
Body
Head V Harding BMus(Hons), PGDip (RAM), PGCE, LRAM, ATCL
Independent auditors HaysMac LLP
Statutory Auditors
10 Queen Street Place
London
EC4R 1AG

1

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

Bankers National Westminster Bank Plc Crompton House Derwent Street Derby DE1 2ZG Solicitors Foot Anstey LLP 2 Glass Wharf Bristol BS2 0EL Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR

Surveyors Fisher German The Estates Office Ivanhoe Business Park Ashby De La Zouch Leicestershire LE65 2UZ

Insurance Brokers PIB Insurance Brokers Exeter House Stainer Way Derby DE21 6BF

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REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Governors (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of Repton Preparatory School (the Charity) for the year ended 31 August 2025. The Governors confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in 2019.

CHARITABLE OBJECTS

The school’s principle objective is to further the education of children and young persons. The principal activity is the provision of academic education enabling our pupils to go out into the world not just ready, but Repton Ready. Intellectually, physically, and emotionally prepared for the known and unknown; eager and equipped to achieve their full potential - whatever life holds.

Our core values are:

Our mission is:

OBJECTIVES AND ACTIVITIES

Rounded

We offer a broad curriculum and diverse extra-curricular experience to prepare our pupils for life beyond school, whilst ensuring that they stay children for longer. We value the transferable skills our pupils gain from a broad curriculum experience: teamwork, dedication, resilience, leadership and a sense of achievement – both collectively and individually. We know that participation, in whatever arena, fosters wellbeing and that physical activity is important for growing children.

Grounded

We offer our pupils the best in pastoral care; a feeling of personal security and safety whilst understanding their societal responsibilities. We help them to make wise judgements; to be able to discriminate between right and wrong, good and better. We can do this because we know each child as an individual. We also believe that no education is complete without a spiritual element to it, teaching children to appreciate beauty, to be creative and to value others. With these elements in place, we aim to work in partnership with parents to produce grounded young people with a global outlook.

Unbounded

We aim to build confidence without arrogance that fosters strong self-belief. A Repton education is about pride in performance, and Repton Prep School aims to provide the highest standard of teaching and learning, in an inspiring and spacious setting. We encourage our pupils to use their minds well. We want each pupil to achieve their personal best and to have the ability to approach all opportunities and challenges with conviction and resilience.

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REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

FUTURE PLANS

Principal activities of the year

The School Development Plan and Strategic Plan have continued to be at the core of our curriculum delivery and planning, to ensure commitment to a progressive vision for the Repton Prep community now and in the coming years. The Strategic Plan is structured to mirror and complement our five pillars of Academic Study, Pastoral Care, Sport, Extra-Curricular involvement and Spirit of Place. Our Progress at the Prep document is distributed twice a year – once in September to outline our commitment to change for the year ahead, and once in May to report on our delivery of these objectives. This is circulated to the whole school community, Governors, prospective parents, and agents. The school was shortlisted for Boarding School of the Year in the TES Awards 2025, as well as being a Finalist for Regional Independent School of the Year: Central Category. We also renewed our Eco Schools status with Distinction and maintained our Level 5 of the RHS Award through our Eco Committee initiatives.

Progress has continued to be made across the curriculum this academic year. The Media Suite has been used extensively to enhance school projects and as part of our extra-curricular programme through the introduction of Repton Prep News and other initiatives. VR headsets have been embedded across school lessons, with iPads facilitating editing, researching and coding activities. We have implemented a Design Hub to support DT, Art and Textiles projects and invested in iPad Airs to support these areas. Pupils have enjoyed the installation of a giant chess set on Front Green and the school site was used for themed days such as our Gruffalo Hunt, Woodland Adventure morning and Repton Prep Spring Watch. We have had a greater focus on career opportunities as part of the curriculum with a talk for Years 3-8 in assembly, as well as a Year 8 Careers Panel discussion as part of their Leavers’ Programme. We have also introduced Unifrog in Years 7 and 8 to support the PSHE curriculum. Wellbeing spaces have been established across all year groups in school to offer additional supportive spaces for pupils. The new changing facilities for girls and refurbishment of the external facade of the Swimming Pool was completed in the Michaelmas term and has enhanced this space on the school site. Many curriculum trips took place and we introduced a Classics Trip, Barcelona Sports Tour, and a French Trip as well as a new Geography Field Trip for Year 7, in addition to a number of curriculum trips and experiences by year group. There was significant investment throughout the academic year in the Theatre with a renovation to replace the seating, side curtains and flooring, as well as painting throughout and new stage curtains. This now provides a combined working studio and versatile performance space, capable of accommodating practical, creative workshop activity, alongside high end, multi-discipline productions and concerts.

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REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

The RPS Inspire Lecture series has continued with talks for pupils on Dark Matter and the History of Foremarke Hall, and our termly Dinner and Debate event has remained popular with new formats of debating promoting even more pupil participation. Academic Enrichment continues throughout the school, and pupils have been busy extending their knowledge with various projects beyond the curriculum, supported by our Repton Prep Enrich booklets. Pupils in Year 8 took their Repton Project Qualification award in the Michaelmas term and this culminated in their hugely successful symposium event. Our Year 7 pupils worked towards the official ISEB Independent Project Qualification (iPQ) award with 48% of pupils achieving a Distinction. A Year 8 pupil also won first place in The Lloyd Berger Information Technology Essay Competition, as well as pupils enjoying success in the Derby Flash Fiction and The Literacy Trust competitions.

We have continued a drive for greater parent involvement including regular coffee mornings and breakfasts, termly Form Reps meetings, as well as returning the Nearly New Uniform shop to the Prep, run by parents. A regular talks programme for parents is also in place which addressed issues such as Mental Health & Resilience from Bridge the Gap, Development of Speech and Language, a Tooled-Up Education Talk on Digital Risks and Harm, and a Pre-Prep Parent Talk with Dr Kathy Weston. In addition to this we have had staff-led curriculum talks on the Sports Curriculum, Outdoor Learning, Digital Health and Creativity, Humanities Curriculum and Challenge for All.

Repton Prep has a philosophy that is committed to an all-round education, and the provision of a wide range of extra-curricular opportunity enables our pupils to explore, grow and develop as well-rounded individuals. Extracurricular booklets are sent to Pre-Prep and Prep parents termly and, on average, we offer 75 different activities across 99 after school sessions a week.

We entered national Maths competitions: the First Maths Challenge (Years 3 and 4), the Primary Maths Challenge (up to Year 6), the UKMT Junior Maths Challenge (up to Year 8), and the Intermediate Maths Challenge (up to Year 11). Once again, our pupils performed very well across these competitions with a large number of pupils receiving bronze, silver or gold awards and some pupils qualifying for additional rounds of each competition: 4 pupils achieved Gold Awards and 4 pupils qualified for the bonus Kangaroo round in the Junior Maths Challenge; 1 pupil received a Gold Award in the Primary Maths Challenge; 11 pupils received Bronze and 1 pupil achieved Silver in the Intermediate Maths Challenge. A group of pupils entered the Townsend Warner History Prize and for the first time, we entered the UK Linguistics Olympiad with 3 pupils earning a Silver Certificate (top 15% in the country) and 4 pupils earning a Bronze certificate (top 35% in the country).

The year was filled with House sporting events across each term such as Tug of War, Hockey, Football, Swimming, Netball, and Tennis, where pupils demonstrated their sporting capabilities, team spirit and perseverance. These events culminated in the highly anticipated Sports Days for all pupils from Nursery to Year 8. In addition, our annual Young Musician of the Year and House Music events enabled pupils in Years 3-8 to work collaboratively to develop their creative and performance skills.

Pupils also represented their houses in a number of academic events such as the House Maths challenge, House Chess, Spelling Bee, Science Spectacular, House Geography and the General Knowledge Quiz. Alongside this, a number of creative events took place allowing pupils to design Christmas cards and take part in our House photography competition, our Play in a Day initiative and a House Bake Off event. We also introduced termly House Food Waste Days as part of our drive for a more sustainable school, as well as a House Hogwarts challenge linked to World Book Day.

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REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

Over the course of the 2024-25 academic year there was continued success at regional and national level in Athletics, Football, Hockey, Fencing, Tennis, Netball, Cricket, Triathlon, Equestrian, Cross Country and Swimming. Several pupils represented a variety of external Academies and Squads. In Football, these included Leicester City FC, Aston Villa FC and Leicester City LFC Academies, as well as representation in the ISFA National and Regional Squads and Derby County Ladies. In Cricket, 10 pupils were County Representatives for Derbyshire, Nottinghamshire, Staffordshire and Lancashire. 21 pupils played County Hockey for Derbyshire, Leicestershire and Staffordshire. 1 pupil represented Derbyshire in Cross Country and 1 pupil reached the English National Championships for Swimming in the disciplines of Backstroke and Butterfly. In Equestrian, 2 pupils qualified for the Burghley Horse Trials. In addition, pupils took part in over 200 fixtures each term.

In addition to our creative subjects and extra-curricular activities programme, pupils participated in a number of concerts throughout the year both at Repton Prep, and at the Senior School through a Chapel Service, Potential Scholars’ Concert and Steinway piano concert. We have continued to hold regular Informal Concerts to enable all pupils to share their skills with an audience. The Music School hosted five Young Musician of the Year recital evenings, a Festival of Singing, and houses enjoyed preparing for the House Showcase. An additional lunchtime concert was given at St Wystan’s Church, along with regular services at St Saviour’s Church; it is lovely for our boarders and musicians to share their talents with the wider community. The Carol Services, Remembrance Service and Harvest Services were highlights of the calendar year, alongside an additional special Holy Communion service led by the Bishop of Derby. ABRSM music examinations took place throughout the year with good success.

Pupils from Pre-Prep all the way to Year 8 took to the stage to perform to large audiences throughout the year. Many year groups performed in our Theatre for Christmas events, as well as the Year 3 and 4 Summer Performance. Years 5 and 6 presented a short series of scenes inspired by the board game ‘Cluedo’ in the summer term as part of the Activities programme, with a group of Year 8 Drama Assistants supporting backstage with sound, lighting and props, making it a great collaboration. The senior production was ‘Mary Poppins’ which was a magical and polished rendition of the classic musical and they performed to sold-out audiences over three nights. Our Year 8 Drama Scholars also performed their scholarship monologues in a showcase evening and it was inspirational to see their talent on display. Boarders took part in the Christmas Miscellany and put on their own summer showcase performance to parents. LAMDA exams took place throughout the year with excellent results across the board.

PUBLIC BENEFIT

Having considered the operation, achievements and performance and finances of the School, the Governors are satisfied that public benefit has been provided in accordance with the Charities Act 2011 and the guidance published by the Charity Commission. The Governors are satisfied that the school’s aims are charitable, and that its operation was and is consistent with those aims. The primary benefit was the provision of education to the pupils at the school. The school is registered with the Department for Education and is subject to inspections by the Independent Schools Inspectorate. As the pupils were aged 3-13, the Governors are satisfied that the principal beneficiaries were appropriate to the Charity’s aims.

Community Engagement and Volunteering

We held our annual MacMillan Coffee Morning in Pre-Prep where over £1000 was raised, and surplus food was donated to Derby City Mission. Our parent exercise donated money to The Theo Trust and the Head supported the judging of Barnardo’s National Choir Competition.

We increased our community connections with Year 2 pupils visiting Brookfield Nursing home to sing carols to residents, and many concerts took place for public benefit and raised money for charity in the process. Student musicians in ensembles and choirs provided entertainment to our local community on a number of occasions, most notably at St Wystan’s Church, Ticknall Village Fete, Repton Chapel and St Saviour’s Church, Foremark.

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REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

Pupils were brought together via their House fundraising efforts throughout the year, supporting a charity nominated by our House Captains, thus increasing pupil voice. Money raised from events such as mufti days, charity bake sale, our Christmas Fayre, and Parent Quiz Night, amongst other events, was donated to Bridge the Gap and a cheque for £7,500 was presented to them before the end of the academic year in assembly.

ACCESS

The governors are satisfied that access to the school meets the Charity Commission requirement to members of the public who might not be able to afford the full fees, with:

Some pupils benefit from contributions towards the fees from the Repton Foundation, other charities and organisations and public bodies such as local authorities and the Ministry of Defence.

Two Ukrainian pupils continued to be awarded transformational bursaries to attend the Prep School and the provision of free places means that people in poverty are not excluded from the opportunity to benefit from the school’s activity.

Having considered the operation, achievements and performance and finances of the School the Governors are satisfied that public benefit has been provided in accordance with the Charities Act 2011 and the guidance published by the Charity Commission.

FINANCIAL REVIEW

In the academic year 2024/25 the school had 396 pupils on-roll (2023/24: 414 pupils).

We look forward to further diversifying our international boarding community, along with expanding our UK catchment area to develop further boarding provision as the boarding community sits at the heart of our school offering.

The School’s incoming resources were £7.9m (2024: £7.5m) and total charitable expenditure was £8.1m (2024:

£7.6m), resulting in a deficit for the year of £242k (2024: £137k). The principal source of income was School fees which accounted for 93% of total income (2024: 92%).

The Governors estimate that the attendance of pupils at the School saved the public purse approximately £3.31m based on an average cost per maintained school place of £8,210 per annum.

Going Concern

The accounts have been prepared on a going concern basis as Repton Prep remains a key part of the wider Repton Group strategy, which includes plans to streamline the Group structure and deliver cost efficiencies that are expected to reduce net liabilities significantly, supported by the continued backing of the Group.

Reserves policy

Unrestricted funds, which have not been designated for other purposes, are available for use at the discretion of the Governors in furtherance of the general objectives of the Charity. It is the School's policy to donate its surplus unrestricted funds in excess of £100,000 to Repton School Trust, to fund future capital projects for the benefit of the School. The Trustees aim to build reserves toward the target level of £100,000 through strategic decision-making at Group level, maximising income generating opportunities and delivering cost efficiencies across operations.

I nvestment policy

The policy of the Governors is to maintain sufficient cash reserves for the ongoing operation of the School, with excess surpluses being donated to Repton School Trust to fund capital development.

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REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal status

Repton Preparatory School is registered as a charitable company limited by guarantee and a registered charity administered under the Companies Act 2006 and the Charities Act 2011, and was set up by a Memorandum of Association dated 4 July 2002, as amended 1 July 2003, 20 June 2008, 23 June 2017 and 29 July 2020. Recruitment and appointment of Governors

Up to nineteen Governors are co-opted. One further Governor is nominated by the Heads and full-time teachers of Repton School and Repton Preparatory School. Care is taken with the appointment of Governors to ensure they bring other relevant professional skills to the school including education, finance, property, and legal expertise. Each Governor serves for renewable terms of five years.

Induction and training of Governors

On appointment Governors are briefed by the Chairman of Governors and receive written information explaining the corporate organisation and copies of the constitutional documents. They are given the opportunity to tour the School and to spend time with the Headmaster and Chief Operating Officer. They are encouraged to visit the School, including the staff Common Room and boarding houses to meet the staff and pupils, and are invited to School events.

Details of training run by the Governing Bodies Association are circulated to Governors. To encourage their attendance, funding is provided for those who wish to attend.

Organisational structure

The Governors are responsible for the overall management and control of the School. The full Governing Body usually meets three times a year. The Governors’ committees to which certain responsibilities are delegated and which all report directly to the Governing Body include the Finance and General Purposes Committee, the Academic Committee and the Pastoral and Safeguarding Committee which all meet termly, and the Audit Committee and the Governance and Nominations Committee which both meet annually.

The School is a co-educational independent preparatory school for pupils aged 3 to 13 years and operates from land and buildings owned by Repton School Trust.

The day-to-day management of the school is delegated to the Head and Chief Operating Officer supported by their management teams. Housemasters and Housemistresses are responsible for pastoral care and overseeing pupils' progress through the School. Academic provision is managed through the Heads of Departments. All teaching staff are allocated to an academic department, and most are closely associated with one or other of the four boarding houses.

Key management personnel

The remuneration of key management personnel is set by the Remuneration committee and is kept under annual review. A number of criteria are used in setting pay:

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REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

Principal risks and uncertainties (The Repton Group)

The Trustees have undertaken a review of the principal risks facing the Repton Group, reflecting the expectation that risks are clearly identified, assessed and actively managed. The most significant risks identified include, but are not limited to:

The Trustees are responsible for the management of the risks faced by the Repton Group and regularly review the effectiveness of mitigation plans and controls. Oversight of risk is embedded within the governance framework and is considered throughout the year, with a formal review of the School’s risk management processes undertaken annually.

Detailed consideration of risk is delegated to the appropriate Committees, with support from the Executive, ensuring that risks are identified, assessed and managed in a timely and proportionate manner.

Key controls in place include:

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REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

Through these processes, the Trustees are satisfied that the principal risks to which the Repton Group is exposed are identified and reviewed, and that systems and procedures are in place to manage those risks. The Trustees recognise that such systems provide reasonable, but not absolute, assurance that risks are adequately mitigated.

Equal opportunities

The School supports the principle of equal opportunities and opposes discrimination on the basis of sex, marital or civil partnership status, gender reassignment, race, disability, sexual orientation, religious belief, part time or fixed term employment and age. Being a committed equal opportunities employer, the School takes every possible step to ensure that employees are treated equally and fairly in respect of these matters. All policies and practices seek to conform with the principle of equal opportunities in terms of recruitment, selection, training, promotion, career development, discipline, redundancy, and dismissal. With regard to disabled employees, this extends to having regard for their particular aptitudes and abilities; all reasonable steps are taken to continue theemployment of employees of the School who have become disabled persons whilst employed by the School, and for arranging appropriate training.

I nformation and consultation

Within the bounds of confidentiality, staff are kept informed of matters that affect the progress of the School and are of interest to them as employees.

Disclosure of information to auditors

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

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

Chris Hibbs

...............................................

C D Hibbs BSc (Hons) FCA

Date: 27/05/2026

Mark Shires

................................................ E M Shires BA (Hons) FCA

Date: 27/05/2026

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REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

STATEMENT OF GOVERNORS' RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025

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

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

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

11

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REPTON PREPARATORY SCHOOL

Opinion

We have audited the financial statements of Repton Preparatory School (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, Balance Sheet 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

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REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REPTON PREPARATORY SCHOOL (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Governors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Annual Report (which incorporates the strategic report and the directors’ report).

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

Responsibilities of Governors

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

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

13

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REPTON PREPARATORY SCHOOL (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations.WeWe design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to The Education (Independent School Standards) Regulations 2014, safeguarding regulations, health and safety requirements, GDPR, employment law and charity law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, the Statement of Recommended Practice for Charities (SORP FRS102) and consider other factors such as income tax and payroll tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to improper recognition of revenue and management bias in certain accounting estimates and judgements. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

14

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF REPTON PREPARATORY SCHOOL (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Stokes (Senior Statutory Auditor) for and on behalf of HaysMac LLP Statutory Auditors 10 Queen Street Place London EC4R 1AG

Date: 28/05/2026

15

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

Note
Income from:
Charitable activities
2
Investments
Other income
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Total funds brought forward
Total funds carried forward		 Restricted
funds
2025
£
-
-
-
-
-
-
-
2,732
2,732		 Unrestricted
funds
2025
£
7,870,041
35,866
12,309
7,918,216
8,160,370
8,160,370
(242,154)
(23,501)
(265,655)		 Total
funds
2025
£
7,870,041
35,866
12,309
7,918,216
8,160,370
8,160,370
(242,154)
(20,769)
(262,923)		 Total
funds
2024
£
7,455,519
11,017
1,850
7,468,386
7,605,554
7,605,554
(137,168)
116,399
(20,769)

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

The notes on pages 18 to 31 form part of these financial statements.

16

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee) REGISTERED NUMBER: 04390208

BALANCE SHEET AS AT 31 AUGUST 2025

Fixed assets
Note
Tangible assets
9
Current assets
Stocks
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
12
Total net assets
Charity funds
Restricted funds
13
Unrestricted funds
13
Total funds		 16,983
3,090,234
1,727,682
4,834,899
(3,929,769)		 2025
£
383,421
383,421
905,130
1,288,551
(1,551,474)
(262,923)
2,732
(265,655)
(262,923)		 4,129
3,568,187
1,106,664
4,678,980
(3,409,531)		 2024
£
469,851
469,851
1,269,449
1,739,300
(1,760,069)
(20,769)
2,732
(23,501)
(20,769)

The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Governors and signed on their behalf by:

Chris Hibbs

Mark Shires

................................................ ................................................ C D Hibbs BSc (Hons) FCA E M Shires BA (Hons) FCA

27/05/2026

Date: 28/05/2026

17

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Repton Preparatory School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The School’s Governors are its only Members however the School is considered to be part of the group headed by Sir John Port’s Charity.

The School has also taken advantage of the exemption to prepare a cash flow statement.

1.2 Going concern

The School meets its day-to-day working capital requirements through the close management of its cashflow from operations and calling on amounts due from group companies as required. After making enquiries, the trustees have a reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. The trustees acknowledge the overdrawn balance sheet position and group support will be available if required. The School therefore continues to adopt the going concern basis in preparing its financial statements.

1.3 Income

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

Fees receivable and charges for services and for the use of premises are recognised and accounted for in the period in which the service is provided. The School invoices pupils termly in advance and the income relating to these invoices is deferred until the start of the term to which they relate. Fees receivable are stated after deducting allowances, scholarships and other remissions allowed by the School.

Donations, grants and other forms of voluntary income are recognised and accounted for when received or when contractual obligation to pay arises. Donations subject to specific wishes of the donors are carried to relevant restricted funds, or to endowed funds where the amount is required to be held as capital. Donations received for the general purpose of the School are credited to unrestricted funds.

18

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

1. Accounting policies (continued)

1.4 Expenditure

Expenditure is accounted for on an accruals basis. Overheads and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff time or space occupied, as appropriate. The irrecoverable element of VAT is included with the item of expense to which it relates.

Governance costs comprise the cost of running the School, including the external audit, any legal advice and all costs of complying with constitutional and statutory requirements, such as the costs of Board and Committee meetings and of preparing statutory accounts and satisfying public accountability.

All educational supplies are written off in the year of purchase.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

1.5 Taxation

The School is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the School is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £10,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Assets in the course of construction are included at costs incurred to date. Depreciation on these assets is not charged until they are brought into use.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is not charged in the year of purchase.

Depreciation is provided on the following bases:

Freehold property - 2-10% on cost
Motor vehicles - 20% on cost
Teaching equipment - 20% on cost
Office equipment - 20-25% on cost

19

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

1. Accounting policies (continued)

1.7 Pensions

The School makes contributions to a defined contribution pension scheme on behalf of certain nonteaching staff. The School also makes contributions to the Teachers' Superannuation Scheme in respect of teaching staff, a notionally funded defined benefits pension scheme. Contributions to both schemes are charged in the Statement of Financial Activities as they fall due.

1.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the School and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the School for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

20

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

2. Income from charitable activities

School fees receivable
Other educational charitable activities
3.
School fees receivable
Gross fees
Less: Total remissions, scholarships and bursaries
4.
Other income
Profit on disposal of fixed assets		 Unrestricte
d funds
2025
£
7,178,606
691,435
7,870,041		 Total
funds
2025
£
7,178,606
691,435
7,870,041
2025
£
8,306,474
(1,127,868)
7,178,606
2025
£
12,309
12,309		 Total
funds
2024
£
6,894,494
561,025
7,455,519
2024
£
8,071,557
(1,177,063)
6,894,494
2024
£
1,850
1,850

21

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

5. Analysis of expenditure on charitable activities

Summary by fund type

Teaching
Welfare
Premises
Support and governance		 Unrestricte
d funds
2025
£
5,069,290
860,495
1,232,386
998,199
8,160,370		 Total
2025
£
5,069,290
860,495
1,232,386
998,199
8,160,370		 Total
2024
£
4,959,118
446,071
1,552,010
648,355
7,605,554

Summary by expenditure type

Teaching
Welfare
Premises
Support and governance
Teaching
Welfare
Premises
Support and governance		 Staff costs
2025
£
4,503,773
513,032
323,060
260,617
5,600,482
Staff costs
2024
£
4,376,111
62,469
720,992
263,208
5,422,780		 Depreciatio
n
2025
£
-
-
65,766
-
65,766
Depreciation
2024
£
-
-
22,288
-
22,288
Other costs
2025
£
565,517
347,463
843,560
737,582
2,494,122
Other costs
2024
£
583,007
383,602
808,730
385,147
2,160,486		 Total
2025
£
5,069,290
860,495
1,232,386
998,199
8,160,370
Total
2024
£
4,959,118
446,071
1,552,010
648,355
7,605,554

22

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

6. Governance costs

2025
£
Governance costs included in support costs:
Auditors' remuneration
8,000
Auditors' non-audit costs
2,500
10,500		 2024
£
6,360
3,450
9,810

7. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
4,335,883
456,627
807,972
5,600,482		 2024
£
4,311,446
403,274
708,060
5,422,780

Termination payments totalled £NIL during the year (2024: £89,005) and were processed through the payroll. At the balance sheet date, £NIL is outstanding (2024: £NIL).

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

Teaching
Assistants, domestic and catering
Management and administration		 2025
No.
75
96
-
171		 2024
No.
72
87
4
163

23

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

7. Staff costs (continued)

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

2025 2024
No. No.
In the band £60,001 - £70,000 4 3
In the band £70,001 - £80,000 - 1
In the band £80,001 - £90,000 - 1
In the band £110,001 - £120,000 1 1

The aggregate remuneration and benefits received by key management personnel was £449,122 (2024 -£420,573).

8. Governors' remuneration and expenses

During the year, no Governors received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 August 2025, no Governor expenses have been incurred (2024 - £NIL) .

24

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

9. Tangible fixed assets

Cost or valuation
At 1 September 2024
Additions
Disposals
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
On disposals
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024		 Freehold
property
Motor
vehicles
£
£
272,181
304,135
29,033
107,240
(259,681)
(41,794)
41,533
369,581
-
232,801
-
39,281
-
(25,076)
-
247,006
41,533
122,575
272,181
71,333		 Teaching
equipment
£
20,057
-
-
20,057
20,057
-
-
20,057
-
-		 Office
equipment
Other fixed
assets
£
£
175,081
-
80,088
39,373
-
-
255,169
39,373
48,744
-
26,485
-
-
-
75,229
-
179,940
39,373
126,337
-		 Total
£
771,454
255,734
(301,475)
725,713
301,602
65,766
(25,076)
342,292
383,421
469,851

25

(A Company Limited by Guarantee)

REPTON PREPARATORY SCHOOL

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

10. Debtors

Due within one year
Fee debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Creditors: Amounts falling due within one year
Refundable deposits
Trade creditors
Other creditors
Other taxation and social security
Deferred income
Accrued expenses
Deferred income at 1 September
Resources deferred during the year
Amounts released from previous periods		 2025
£
982,767
1,885,788
20,683
200,996
3,090,234
2025
£
133,070
309,361
429,465
494,598
2,501,097
62,178
3,929,769
2025
£
2,294,690
1,837,849
(2,294,690)
1,837,849		 2024
£
863,890
2,544,286
107,485
52,526
3,568,187
2024
£
98,890
152,329
602,951
93,851
2,294,690
166,820
3,409,531
2024
£
2,388,481
2,294,690
(2,388,481)
2,294,690

11. Creditors: Amounts falling due within one year

Deferred income relates to fees in advance and the balance is trips and other miscellaneous income.

26

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

12. Creditors: Amounts falling due after more than one year

Refundable deposits
Other creditors		 2025
£
369,301
1,182,173
1,551,474		 2024
£
417,402
1,342,667
1,760,069

Repayment of refundable deposits is due on the child leaving the school, net of any charges outstanding. No interest is due on these balances.

27

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

13. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Drama prize fund
Bowesman-Jones Endeavour prize fund
Total of funds		 Balance at 1
September
2024
Income
£
£
(23,501)
7,918,216
1,832
-
900
-
2,732
-
(20,769)
7,918,216		 Expenditure
£
(8,160,370)
-
-
-
(8,160,370)		 Balance at
31 August
2025
£
(265,655)
1,832
900
2,732
(262,923)

28

REPTON PREPARATORY SCHOOL

(A Company Limited by Guarantee)

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

13. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Expendable funds for donation
General funds
General funds
Total Unrestricted funds
Restricted funds
Drama prize fund
Bowesman-Jones
Endeavourprize fund
Total of funds		 Balance at
1 September
2023
£
13,771
100,000
113,771
1,728
900
2,628
116,399		 Income
£
-
7,468,282
7,468,282
104
-
104
7,468,386		 Expenditure
£
-
(7,605,554)
(7,605,554)
-
-
-
(7,605,554)		 Transfers
in/out
£
(13,771)
13,771
-
-
-
-
-		 Balance at
31 August
2024
£
-
(23,501)
(23,501)
1,832
900
2,732
(20,769)

The income funds of the School include restricted funds comprising the unexpended balances of grants held on trust to be applied for specific purposes as above.

29

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

14. Pension commitments

A group defined contribution pension scheme is operated which non-teaching staff are eligible to join. The total cost to the School was £95,106 (2024 - £95,402), which represents the contributions made by the School to this scheme. At 31 August 2025, £12,450 (2024 - £12,450) of pension contributions were due to the non-teaching staff group personal pension scheme.

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £923,590 (2024 -£620,239) and at the year-end £64,949 (2024 - £71,616) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

15. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.

16. Related party transactions

TThe following balances were owed by Repton Prepatory School at the year ended 31 August 2025

Repton School was owed £125,262 (2024 - 1,259,338) Repton Enterprises Limited was owed £256 (2024 - £18,771) Repton Trust was owed £2,785,788 (2024 - £1,266,286)

The children of the elected trustees who attended Repton Prepatory School are charged fees and receive remissions at the normal rate as for all other children.

There were no other related party transactions during the year.

17. Controlling party

The School’s Governors are its only Members however the School is considered to be part of the group headed by Sir John Port’s Charity. Copies of the consolidated financial statements of Sir John Port's Charity are available from Companies House.

30

REPTON PREPARATORY SCHOOL (A Company Limited by Guarantee)

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

18. Contingent liabilities

The charitable company has a contingent liability in respect of a multilateral cross guarantee, relating to the bank overdraft facility granted under a group set off arrangement between Repton School, Repton Preparatory School, Repton School Trust and Sir John Port's Charity. This guarantee is limited to £1,500,000. At the balance sheet date the total amount of secured debts due to the bank amounted to £Nil (2024 - £NIL).

31