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2025-08-31-accounts

YARM SCHOOL EDUCA TlING Foli LIFE Annual Report 2024-2025 klil (•) Registered Charity Number 1093434 Registered Company in England and Wales4451356

Contents Directors. Report Page 4 Statement of Directors. Responsibilities Page 21 Audit Report Page 22 Group Siaiemeni of Financial Aciivities Page 26 Group and Company 8a13nce Sheet Page ?7 Group Cash Flow Statement Page 30 Notes io the Financial Sialements Page 31 Page 3

Structure, Governance and Management The Board of Directors present their annual report lor the year ended 31 August 2025 under the Companies Act 2006 las amended by the Economic Crime and Corporate Transparency Act 20231 and the Charities Act 2022, together with audited Financial Statements of the Group for the year and confirm that the latter comply with the requi rements of the Companies Act 2006, the Company's Memorandum and Articles of Association, and the requirements ol the Charities SORP (Statement ol Recommended Practice) 2019. REFERENCE ANDADMINISTRATIVE INFORMATION accounting, legal, medical and education sectors and some may be parents of current or former pupils. Yarm School was founded in 1978. It is constituted as a company limited by guarantee registered in England, Company Number 4451356, and is registered with the Charity Commission under Charily Number 1093434. Training New directors are introduced to the operation of the School by the Headmaster and Senior Managers, and through an induction programme provided by The School operates two schools known asyarm the School Manager- also Clerk to the Governing School IDIE nLJmber 808160021 and Yarm Preparatory Body- which covers their tripartite responsibilities School IDIE number 808160031. as directors. trustees and governors. There is also a range of training opportunities available There is one Governing Body for the two schools. through courses provided by the Association ol Details ol the members of the Governing Body are Governing Bodies of Independent Schools IAGBISI. listed, together with the School's principal personnel All governors are encouraged to attend specialist and advisers on pages one and two. courses on the role and responsibilities ol charitable trustees in addition to attending regularly any other relevant courses by AG8IS and other providers. Governors are provided with training and knowledge which supports them to fulfil their statuiory duties regarding school life, such as safeguarding training and health and safety policy. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Documents The company is governed by its Memorandum and Article5 ofAssociation last amended on 28 June 2011. Governors also report on an 3nnual basis any training undertaken in their professional lives which may also be relevant to School. This information is held centrally in the Clerk to the Governors, office, as the Governors. Register of Training. Governing Body The Governing Body must number between 6 and 15, and all governors are required to be trustees of the charity and directors of the company. Director5 are formally appointed at the Annual General Meeting IAGMI but may also be appointed by the Board at any ti me on a temporary basis until formal appointment at the next AGM. One third of directors retire at the AGM; they may be re-elected but rnay not normally serve beyond nine years. Organisational Management The Governing Body determines the general policy and strategic direction ol the School. The Governing Body. a5 the charity trustees, is legally responsible for the overall management of the school. The Main Board meets four times a year. twice in the autumn term and once each in the spring and summer terms. Directors are appointed to ensure a wide range of 5ki115 and experience are brought to the Governing Body. Directors are sought from the business,

Jlll'h.4 The Main Board is also supported by sub- comfflittees whose membership is drawn from the Board of Directors.. Finance & General PurposesCommitt&. This committee meets in advanceof Main Board meetings to review li nancial performance and development strategies lor the future ol the School. It scrutinises revenue, budgets and All commitlees report to tho Main Board, where their capital expenditure, and oversees the production business is reviewed and approved. ol the School's annual audited financial statements and annual report, lor approval by the Governing Body., Salaries Committee. This committee considers proposals for annual salary reviews of all employees of the School, including teaching and non-teaching staff. The remuneration of senior managers is considered by a smaller sub- committee. the Senior Salaries Comrnittee. The remuneration policy is reviewed annually and COn5ider5 pay and conditions in Similar Schools and sector wide. Staff costs are Ihe largest single element of our charitable expenditure. Group Strurture and Relationships Education Committee. This committee considers Yarm School has one wholly owned subsidiary, cademic, p3storal and extra-curricular Yarm School Trading Limited. whose 3ctivities are to policy, together with reviewing the School's provide a school uniform showroom for pupils and rolling programme of self-review for subject to operate the Princess Alexand ra Auditorium. departments across all phases of the School. Compliance Committee. This committee monitors and reviews all aspects of legislative compliance, paying particular regard lo inspection requirements and any wider legislative changes which could affect the School. The day-to-day managementofthe School is delegated to the Headmaster and the Senior Management Team ISMTI, which includes the Head of the Prep School. Certain members of the SMT attend all meetings of the Governing Body's committees Whe￿ relevant. except on rare occasions when governors request otherwise. However, SMT members do not have voting right5 at those meetings and attend as observers or to present information to the Governing Body. Page S

Structure, Governance and Management (continued) The School seeks to lullil its mission 'Educating lor In addition to placing funds on deposit the Trustees Life, in all aspects of its operations. It aims to achieve agreed to invest a portion of Surplus funds to provide high academic standards whilst promoting personal a return that maintains the real li nflation adiustedl growth lor all pupils through a broad extracurricular value of the capital 35 measured by the Consumer programme and has active membership ol a number Price Index, while also generating an income to of bodies who also seek to promote this aim, support the work of the ch3rity. including the Independent Schools Council IISCI. the Heads, Conference IHMCI, the Independent Association ol Preparatory Schools IIAPSI, the Association ol Governing Bodies ol Independent Schools IAGBISI, the Independent Schools. Bursars Association IISBAI. Wherever possible and in accordance with Charity Commission guidelines, the Trustees wish to make investments in ways that are consistent with the values and charitable aims ol the School. When considering investment strategies, The Finance and General Purposes Committee will take i nto account the published guidance ol the Charity Commission on ethical and socially responsible investment ol charitable funds and the School's investment philosophy and restrictions. Employment Policy Yarm School 15 an equal opportunities employer and, as such, is committed to a policy of equal treatment and opportunity with regard to its policies and practices for both employees and potential employees. This means that no employee or applicant will be treated less13vourably on the grounds ol any ol the protected characteristics as defined by the Equality Act 2010. Consultation with employees, or their representatives, has continued at all levels with the ai m of taking the view of employees into account when decisions are made that are likely to affect their interests. Employees are made aware ol the financial performance of the School, together with its plans lor future development, on an annual basis. Following a review of performance ol the portfolio during the year and consideration ol various options available to the school the investment portfolio wa5 moved to the Coutts Managed Fund in August 2025. The portfolio is reviewed by the Governing Body at the Finance & General Purposes Committee on a termly basis. Performance over the preceding 12 months will be considered carefully in comparison to other appropriate investment portfolios available which may result in changes to the funds held to maximise best value to the School. Investment Policy and Objerts The Directors are permitted by the Memorandum and Article5 of A550Clation to invest any surplu5 funds ol the school not immediately required lor the furtherance of its objects. The agreed policy is to place such funds on deposit in high interest bearing bank accounts which will still allow access to the The school has Free reserves of £4.3m which funds when necessary. The rate of interest received is represent unrestricted funds, less tangible fixed reviewed regularly to ensure it remain5 competitive. ssets and longer terrn loans. Long term108ns have It is always the intention of the directors to obtain been excluded as they are secured over the fixed the most advantageous returns for the Company assets of the School. whilst weighing up all relevant risks. Reserves Policy The School s reserve policy is to maintain sufficient unrestricted income reserves to enable it to meet it5 short-term financial obligations in the event ol an unexpected revenue shortfall. Internal funding will continue to be accumulated in order to further develop the school's facilities whilst

maintaini ng funds to meet the day to day working capital requirements. The School'5 total reserve5 of £42.4m at the year-end include restricted funds of £242k. a number of staff across the School. A Health and Safety Committee. which comprises key teaching and administrative stsff takes place once a term. A range ol generic controls are in place in order to minimise routine operational risk, such as.. Prfnclpal Rlsksand Uncertalntles The Board considers the main areas ol the School s operations and regularly reviews the main risks in each of these areas, as assessed by the Senior Management Team using Specified escalation criteria. Detailed terms of reference and formal agenda5 lor all Board committees and activity., Strategic development planning, which is reviewed annually., Comprehensive budgeting and accounting; Clear and established organisational structures and reporting. Formal written policies. with clear authorisation and approval levels., Comprehensive vetting and recruitment procedures required by law for the protection of vulnerable groups In the opinion of the Directors. the School has established resources and reviewed systems, which, under normal conditions, should allow these risks to be mitigated to an acceptable level in day-to-day operations. The Governing Body considers the economic turbulence in recent years, political uncettsinty and change5 to arrangements regardingVAT and The School receives occasional donations frorn Business Rates and the affordability of fees by parents but does not undertake significant parents across the independent sector to be the fundraising from the public and does not use major risks faced by the School, alongside the more commercial participator. Additional income comes recent threats of economic uncertainly and its effects from activities run by the school such as holiday on our parents. clubs and the hiring out ol the auditorium. There is therefore no regulatory scheme lo be followed. Other key risks include the loss ol key personnel from No complaints have been received about our the Executive Team and, while unlikely, the potential fundraising practices. lor incidents Ihealth and safety, child protection etcl which stand to impact on employees, pupils and affect the wider reputation of the School. The major ri5k5 are reviewed annually by the Governors through the Compliance Committee, following recommendation5 from the Senior Management Team. The recommendationsfrom thecompliance Committee regarding risk management are then escalated annually to the Main Board lor uthorisation. On a day to day ba515. the breadth of activities and associated risks are managed by careful planning and risk a55essment. Risk assessments are monitored by the Educational Visits Coordi nator, the Estates Manager and the Senior Deputy Head, as appropriate, with involvement of Page 7

Objects, aims, objectives and activities Yarm School's mission is'Educating for Life,: the School's purpose is to provide excellent education to enable pupils to fulfil their potential as individua15 and develop skills to become adults who will contribute positively to society. The School's educational purpose is about more than mere academic attainment. Charftable Objects Strateglc Vl$lon The School's charitable objects are set out in the The School s 5 year Strategic Vision sets out the Memorandum and Articles of Association as'the Mission. Ethos and Aims of the School, and the Key independent education ol children in the couniies of Priorities to achieve those aims. Durham and North Yorkshire and the former county of Cleve13nd'. Aims Prfnclpal activlty Yarm School s principal activity, as set out in the Memorandum and Articles ofAssociation, and in conjunction with its charitable duties, is'the advancement ol education,. In this regard, the School has had another very successful year. Pupil numbers on roll have remained Strong over the past lew years and are currently approximately 1,150. The School attracts regular enquiries from prospective parents, from the Open Mornings and Preparatory School Open Week, other advertising and by word- of-mouth. This success is the result of the Governing Body's resolve to maintain the high academic standards, exceptional extracurricular provision and outstanding facilities for which the School is highly regarded in the north-east region. Our pupils, academic progress and achievements for the year are summarised on page 14. The School aims to.. encourage our pupils to strive for high personal, academic and social stsndards whilst taking full advantage of the opportunities on offef to them. enable pupils to enjoy thei r education, to see learning as a valuable and lifelong experience and to support them in making important career decisions., build and sustain a compassionate, generous and inclusive community in which all its members are valued equally and demonstrate a sense ol pride in contributing lo the local and wider community. develop in our pupils personal qualities such as curiosity, honesty, industry, silience. empathy, self-awarene55 and respect. In the Prep School this is delivered via the Prep School Value5.' Re50urceful, Ambilious, Safe, Respectfu I, Responsible, Cornpassionate.. foster an active and open relationship with parents. supporting them in raising confident, positive and well-rou nded young people. ensure that sustainability and environmental awareness are central to our strategy and that pupils are engaBed and involved in achieving this. Intended Impact Within its ch6rit6ble object5, the School strives to provide a first-class educational experience, through its strong academic tuition and by developing broader life skills that enable every pupil to realise his or her potential. School life, whether through the curriculum or the wider programme of ctivitie5, nurtures skills in pupils which encourage individual learn ing, sportin& musical and theatrical achievernent, team-building and Social skills. This policy aims to foster life skills in pupils. an understanding ofthe value of service and a willingness and interest in contributing to the wider comrnunity whilst at School.

Five Key Prforfties The School has identified five Key Priorities to achieve these aims, which support and drive the Development Plan. Academic excellence and aspiration, built on a foundation of inspirational teaching and a (Ltlture of development and professional learnin& Holistic pastornl care. building resilience. self-knowledge and a sense of wellbeing whilst ensuring that pupils develop empathy in their interactions with others. 8ro•d and robust skius development for our pupils. offering a rich and diverse range of extracurricular opportunities Engagement with our community. Inclusion ol the whole School community, including former pupils. in our development. Active engagement with and contribution to our local and regional communities. Contlnued •milronmentally r•sponslble caplt•l d•v•lopm•nt to ensure the best facilities for leaming. Commitment to sustainability and envlronmental Issues. Strategles to achleve the prfnclpal objectlves In recent years, the Governing Body has continued an extensive programme ol capital development across the School. the school submitted plans to develop this site into a 0-3 year old Nursery. The planning application was successful and the building work5 are due to commenceearlyinautumn2025. In addition, during 2024 the School purchased a further office building In January 2025, the latest phase of our plan to to enable additional space within the main School develop the Prep School opened with a new building sile to be released for use as classrooms and pupil to house a School Hall, kitchen and dining facilities. facilities. supporting the continuing growth ol the library and learning resource space and three new School community. The Governors and SMT are alert classrooms, as well as a new reception and arriv31 to future opportunities to acquire such properties space for the Prep School. that support the furtherance of the charity's aims and objective& The School is committed to ensuring that its plans to enhance all facilities are carefully and sensitively Govemors also consider the School 5 responsibilities developed, bearing in mind its geographical position towards public benefit and, through Ihe Compliance in the town and other local factors. In September committee, regularly review activities being 2023 the School purchased a buildin8 OPPOSlte undertaken within School in partnership with the the Senior School site and a short walk from the community. and other charitable activities, explained Prep School to provide flexibility for operational in more detail over the next few pages. and strategic priorities i n the luture. During 2024 Pa8e9

Objects, aims, objectives and activities (continued) Future Plans The School's current development plan is kept under regular review by the Senior Management Te3m, for periodical submission to the Governing Public Benefit Body. The pri mary future plans for Yarm School Consistent with the principles set out in 'Hallmarks are set out in the Development Plan, and include of an Effective Ch3rity'. the School take5 seriously a number ol issues which are influenced by the ICS role within the local and national community, national education agenda over which the School seeking to promote the highest possible all-round has mi ni mal influence, such as curriculum reviews at education for its own pupils, promote these A level and GCSE. The School is also engaged in an academic ambitions more widely and integrate ongoing cycle of sell-review for subject Departments, closely with the community in support of activities welfa re and pastoral support, in addition to and events, which are to mutual enjoyment and improvements of our sports and academic facilities benefit. Yarm School remains committed to its across the School sites. founding principles ol providing public benefit to the local community. A summary ol the imp3Ct of our workforpublic benefitcan be found in ourannual Impact Report on our website. growing partnerships programme which comprises a range of initiatives, projects and events. An innovative and developmental programme of Profe55ional Learning, including engagement with Action Research through academic departments, drives excellence and development in pedagogy, with pupil experience and outcomes at the core of teachers, profe55ional development. A focus on pastoral development forms part ol all teachers, development objectives, and Heads ofyear and other Pastoral Leaders support Tutors to provide individualised and effective pastoral care, with an unwaveri ng commitment to safeguarding. All teaching staff are involved in the wider extracurricular provision, with an ongoing focus on providing pupils with an outstanding range of experiences and the opportunities to engage with these within and beyond the timetable The School will not deviate from its educational objectives, aiming to continually improve the experience for our pupils, supporting their academic development nd success in public examination5 whilst further developing the extra-curricular opportunities available to them. Widening Access to a Yarm Education through Bursaries Yèrm School works alongside a charity called the Royal National Children s Springboard Foundation Ispringboardl who focus on harnessing the power ol educational opportunities at some of the U K's leading schools lo benefit young people who need them the most. They vvork with independent boarding and day schools lo place children who have faced challenging circumstances- children and teenagers in or on the edge of care, or growing up in households and communities where opportunities to flourish are limited, with participating schools offering 110% bursary places (those that cover all fees and extras) as well as the additional pastoral and academic support these children may need. Yarm School 15 orie of the first cohort of 15 day schools working with Springboard, specifically supporting its Looked-After and Vulnerable Children ILAVCI programme, and we aim to continue to support The School will continue to allocate fund5 to children to join Yarm from these backgrounds. extend the availability of places to those who would There are currently two pupils within the school benefit from education in the School but who13ck community that havejoined via the Springboard the financial ability to afford the fees. It remains Foundation and we are committed to a further pupil committed to engagi ng with and providing benefit to joining us for the 2025126 academic year. the local community through a well-established and

As a relatively young school, Yarm School does not have any endowments or foundations which exist specifically to support the edLJCation ol pupils from low income farllilies. Pupils who receive bursaries contribute to school life in a variety of ways and So the benefit from their attendance is not only felt by them, but by the whole School. The criteria lor support are under continual review in order to ensure that these lunds are applied to support the education of the recipients in the most effective way possible. There is 31so a separate range of scholarships available to Sixth form pupils. are under, meaning we go out to visit schools where transport costs to come to us are restrictive, we plan according to their timescale, and we ensure projects complement their curriculum. Our partnership work covers are35 that are sometimes under-resourced, and projects include Programming with Micro.'Bits, Clay Workshops, Virtual Reality Sessions, Iniernet Safety, Woodland Sessions, SportsAfternoons, Team Quizzes, Author Visits and more. Activities can take many shapes depending on the individual school need., we have single show format visits delivered i n school halls, like our Physics Roadshow with Dr Craig, smaller interactive workshops delivered over several weeks to enable maximum participation, such as our VR workshops, and lull days on-site at Yarm School where we can offer space and lacililies, such as our STEM Days in association with the North East Stem Foundation, and Singing Days. While the provision of bursaries is a measurable means of providing public benefit. the Governing Body lakes the view that bursaries must not exist to the exclusion ol a much wider benefit that the School provides through ils Partnership activity and comrnunityengagement Working with Local Schools We are delighted that our relationships with schools in our local area continue to thrive with a huge range of collaborative projects taking place. Over 6000 children participated in over 10,000 hours of partnershi p activities in the year 2024125, with 56 schools participating across 18 projects. Everyone involved in our partnershi ps- the teachers and pupils from partner schools and the teachers and pupils from Yarm School - are overwhelmingly positive about their experiences. Teachers value the opportunity to work together in new setti ngs and with different pupils, while pupils from all schools are proud lo be involved and learn new skills. Pupils This year saw the launch of the'you and I, Clay project, in partnership with Stockton-on-Tees Borough Council, and artist Mackenzie Thorpe, which plans to see over 1000 primary school children represented by a 5elf-modelled clay figure at community art installation in 2026- over 400 models are already made. We a150 developed and trialled an Internet Safety Escape Room, in collaboration with Cyents Educational Escape Rooms, a division of Cluedini Live Escape Rooms, which we are offering out to Tees Valley schools from January 2026 onwards. Our Primary School partnership programme has been developed to suit the needs of local schools. We remain agile and adaptable to alleviating the budgetary and time pressures that many schools Page 11

Objects, aims, objectives and activities (continued) develop resourcefulness and respect lor each other through the experience of working in diverse groups to solve problems; for example on Singing Day they mix in a range of grou ps to develop collaborative performances, and on Sports Afternoons they are in mixed groups as they explore new sports such asfencing. NolonlydoourPrep pupilstakepartin partnership projects with local schools, our Year 6 Digit31 Leaders 3Ctually run workshops out in the community teaching peers throughout the year. opportunity for potential medicine, dentistry and veterinary science students from partner schools to access our ultimate multiple mini interview gu ide, which includes information, traini ng and mock MMIS. Communlty and Charfty Partnershlps Working wiihin our local community 10 foster and maintain impactful relationships is very important to us. Our Music Department enjoys close and varied As we have grown our partnership programme connections locally and in the wider Tees Valley we have always ai med to develop the skills and area. We work with local musician and community knowledge of our partner schools and their engineer, Mike McGrother on a variety ol impactlul staff. During the Primary Singing Day we offer a projects. This year we were delighted to work with CPD workshop lor teachers wilh music as their Yarm Town Council and in partnership with Stockton- specialisffl, in our Coding Masterclass our Yarm on-Tees Borough Council, to make Yarm s Christmas teacher works alongside the class teacher who then Lights Switch-on a truly memorable event, when builds on the project, and where our clay sessions the Singing Christmas Tree led the huge crowd in are delivered by Yarm teachers, the class teacher can festive song. We were also honoured to be part of the learn techniques alongside so that they can then musical reception lor His Majesty King Charles111 and teach these skills themselves in the future. Her Majesty Queen Camilla s visit lo Teesside. Pu pils accompanied Mike and musicians from across the Supportlng CareerAsplratlons In the Teesvalley are3 to tell the story of Middlesbrough through music We are proud to work with local secondary schools and song at the event. and loc31, regional and national business and education institutions lo inspire young people from We host regular Memento sing-along events- joyful across the Tees Valley. All our career events are built and moving sessions of music and shared memory on the desi re to share the very best information, led by Mike McGroiher. These gatherings bring advice and guidance with the very widest audience. together people living with dementia, their carers Our careers provision is continuously adapting to the and supporters, care home groups, and members demands ol the education and training sectors, as of the wider community who simply want to join well 65 the employment market. and we are proud in. Held at school. the event5 feature performances to offer a large bien nial Career Convention open to from Yarm School pupils alongside Mike, creating 11 students 14-19 which sees 160 delegates from an uplifting experience centred around music. business and tertiary education and receives more connection, and inlergenerational understand ing. than 1000 visitors from schools across the region. Everyone involved speaks passionately about We host regular'career Cluster, events, which locus the impact ol Ihese sessions. Older attendees On P3rticular career areas and involve discu55ions enjoy the benefits of live music, companionship, and questions with experienced leaders from those and meaninglul engagement with young people career areas, mid-level practitioners. and those while our students gain valuable life 5kills- who arè trai ni ng or just entering the career area_ developing empathy, patiencè, and respect through These events are attended by students throughout performance and interaction in an environment the region. Qur careers provision also includes the that s consislently filled with positivity and shared joy.

We share music with the community in other diverse food parcels to Sprouts, as well as raising money ways. for example through our open invitation to our to go directly towards the charities, work. We work Commun ity Christmas Concerts, our Primary Singing with charities further afield such as The Meserani Days, and through our Choral Society community Project in Tanzania and The Mustard Seed Project in choir, Kenya, in addition to contributing to d isaster relief funds including the UNICEF'S Child ren 5 Emergency We're proud lo have strong connections with local Fund and the Disasters Emergency Committèe commu nity groups and to play an active role in IDECI. Our Prep School h3s long-standi ng link5 supporting inclusive initiatives. As an accredited to local charity The David Ashwell Foundation lor partner of the national charity PHAB, we run a whom they raise money each year (alongside House lortnightly club th31 brings iogeiher young people- charities that are chosen annually). These mutually with and without disabilities- from both the school beneficial partnerships teach our students the values and the wider community. The club is a great success ol compassion and service which are core Yarm and is thoroughly enjoyed by all involved, including School values, and part of our aim in 'educating our pupils, guests, and the parents and carers who for life,. Parents also connect the school to charity see the positive impact it has. and community partners through our two Parents, Associations (YPSSC and YSAI, with both groups raising substantial funds for loc31 and national charities like Homestart Teesside and Cardiac Risk in the Young as well as smaller amounts throughout the year. We enjoy 3 great relationship with businesses on our local High Street, with the annual 'Yarm Apprentice, Busi ness competition lor students involving collaboration with High Street and other local businesses, as tasks involve anything from setting new cale menu items to proposing an office well-being programme. Our Combined C3det Force are the main uniformed contingent at the town's annual remembrance parade, which sees over 1000 members of the public pay their respects. Our'silver Stories, project sees Middleton Hall Retirement Village linkwith pupilslrom Year2toYear6who enjoy sharing stories with residents in regular online video chats, with residents occasionallyvisiting school and pupils occasionally visiting the retirement village. Our 5PaCIOU5 Princess Alexandra Auditorium is offered for numerous community events such as the Stockton Borough Council Dementia Awards. the Tees Valley Business Club, local Dance Schools. Shows, the Tees Valley Youth Choir. and Police Awards events. We have a partnership with Yarm Rugby Club who use our rugby fields a5 their training and match pitches for many years to come. We work with local charities such as Yarm Wellness and Sprouts to provide hands-on support such as pai nting a mu ral in the wellness centre and donating Page 13

Strategic Report Review of achievements and performance A. grades, threeAgrades and one B grade between Yarm School prides itself on preparing every pupil for them and are going off to study 3 wide range of the needs and challenges of their future lives. With courses including Medicine at UCL, Economics and small class sizes. outstanding teaching, exceptional Mathematics at Warwick. Economics at Oxford and pastor31 su pport, high expectations and healthy Chemistry at Bath. ambition, Yarm pupils are supported to fulfil their academic potential in Ihe wide range ol subjects on offer at Yarm. At the same time, our strong commitment to educating the whole person gives them exciting experiences outside the classroom through our rich extra.curricular programme. Economics. Finance. Business and Management continue to be popular university courses for Yarm students with nearly 20Wo of the cohort going to Study these courses at a wide range of u niversitie5, including Oxford, Warwick, Durham and UCL. A number ol students have secured competitive In the summer 012025. we once again received some Degree Apprenticeships at prestigious companies. outstanding GCSE and A level results. At GCSE, nearly hall149¥01 of all grades awarded the top 9-8 Our pupils gained notable success in 3 range IA'I mark, and just under a Ihird at the highest grade ol national competitions such as Olympiads in 9. Thirteen pupils achieved nine or more grade 95, subjects including Malhefflatics. Biology. Physics. with four pu pils earning 3 perfect eleven grade 9s. a Chemistry, Computer Science, Debating, and more. leal achieved by only 145 pupils nationwide lasi year Two students achieved the highly prestigious (Source- Olqual dalal. Roentgenium Award in the Cambridge Chemistry Challenge, a first in Yarm School's history. The At A Level nearly half1470/0l of all grades were at A. or Roentgenium Award is given lo the top 0.5% of A, for the second consecutive year 30(¥0 ol students entrants. Over 32 Yarm pupils took part, with 5 achieved three or more A'.A grades. Seven students earning Copper. 9 Silver and 2 Gold awards in the secured three or more ol the very highest A. grades. competition run by the University of Cambridge. This exceptional group ol students accumulated 22 GCSE Results Yann Sch¢)ol NationalAverage GCSE Grades CJ_71061 70 23 GCSE Grades 9-51961 55 A Level Results Yawm School NationalAverage A Level Grades A'.A Ilol 47 28 GCSE Grades A'_B19'01 75 55

Jjil, DJ. Extra-currfcularactlvltles and elite-level success. At the Prep School, a strong Yarm conti nued to deliver an outstanding extra- foundation is laid through a'sport lor all, philosophy curricular programme throughout the year, enriching that fosters both excellence and p3rtiClP3tion, its specialist teaching, exemplary pastor31 care, and ensuring every child has the opportunity to thrive. exceptional Facilities. Drama and performing arts conti nue to flourish at Sport at Yarm continues to go from Strength to Yarm, from lively productions and dance at the Prep strength, with outstanding achievements on the School to House Drama and major performances national stage. The school s sustained success in the slunning Princess Alexandra Auditorium. across a wide range of disciplines- including (￿er 150 dancers look to the stage in a vibrant rowing, boys, and girls, hockey, netball, rugby, and high-energy Dance Showcase, while pupi Is cricket, tennis, swimming, 3nd athletics- reflects a150 demonstrated their talent through powerful the depth of talent and commitment among both monologues and duologues in the Discourse pu pi15 and staff. A highlight thi5 year wa5 Yarm competition. The Fourth Year performed Goodnight being crowned champions of the U 14 National Mister Tom, and the Fifth Year brought a movinE Schools Netball Final, a testament to the strength production of Journey's End to the stage. Sixth Form of our netball programme. For the first time, 3 students showcased their creativity and maturity women s crew qualified to compete at Henley Royal with compelling interpretations ol Antigone and The Regatta - the Junior Women's Quadruple Scull raced Storm. demonstrating the depth and diversity of in the Diamond Jubilee Challenge Cup a truly performance across the school. monumental achievement for both the boat club and the school. The boys, U18 Hockey team also enjoyed a superb 5eo50n. earning a place in the National England Hockey Schools Cup Semi-Final followi ng a series of outstanding performances. Across many sports and agegroups, Yarm teams have reached n3tional finals, and numerous pupils have been su pported in achieving representative Music is an important part of life at Yarm, with specialist starf teaching a wide range OF instruments and ample opportunities for participation within ensembles, groups. bands, and choirs. and performances in the school and the wider community. Formal termly concerts and smaller performance opportunities allow pupils of all levels Page IS

MY BE THE BEST FNfilAF4D NETBALL NATIONAL L IHL8tS1 ¥ SCH(IILS ¥ NETBALL U14 INNERS 2025 and experience to perform, with many opportunities lor members of ou r local community to attend and enjoy the varied musical life ol the School. Environmental consciousness is deeply embedded in our school's ethos, and we are proud to be a 'zero to landfill, school, to use ground source and air source heat pumps in our Riverside, Auditorium Yarm offer a broad range of Outdoor Education and Hazel Andrews buildings, and to h3ve installed opportunities which include more local challenges solar panels and EV charging points at Prep School. and explorations, such as climbing gorge-walking Our senior school is an eight-tiflles Eco Schools caving and hiking in the Lakes and Yorkshire Dales, Green Flag Award winner, with the latest two awards as well as trips further afield such as mountaineering having been bestowed with Distinction. This year in Scotland, bouldering in Fontainebleau and the Eco Team's'cut Your Carbon, campaign saw saili ng in Greece. This year saw the biennial increased participation, with pupils embracing Outdoor Education trip for Sixth Form students visit practical ways to reduce carbon emissions. they southern France lor canoein& hiking, canyoning and hosted an Eco Week packed with initiatives, and bouldering. supported biodiversity by introducing tnicroponds on the site. The Prep School were also awarded the Eco Schools Green Flag with Distinction ! Their many initiatives saw them continue their regular beach cleans. partner with Stagecoach to design a zebra- themed print for a new electric bus, and progress the development of green spaces at Prep School- the latter earning them the highest level of recognition from the RHS School Gardening Awards (Level 51. In both the Preparatory and Senior Schools. Yarrn offers a diverse range of lunchtime and after- school clubs weekly, covering dance, chess. drama. music, fencing and more. Additionally, pupils at Senior School participate in timetabled activity lessons twice a week, engaging in activities such as spanish chat, creative crochet, mindfulness, entrepreneurship. community action projects. Eco School initiatives, and various sports and outdoor education opportunities.

Financial Review Resultsfortheyear Following the introduction of VAT on school fees. During the year the consolidated net sljrplus of the the anticipated impact on pupi l admissions has School from unrestricted funds was £602k. As a result been carefully monitored. Encouragi ngly, the the School's unrestricted funds grew to £42.2m. overall picture for 2025-26 has remained strong. Pupil numbers continue to be high, and interest in joining the Senior School in September 2026 remains broadly in line with expectations. The Prep School also continues to experience high levels of demand for places throughout. Fee support avai lable to assist families struggling with the effects ofthe current economic turbulence remained in place. General bursary support remained consistent allowing over 40 pupils to attend the school who would not otherwise be able to attend. Debt levels remain consistent and are causing no concerns. Regular scenario planning exercises are undertaken to assess the potential effects of changes in pupil numbers, possible fee increases. salary costs, and the ongoing impact ofVAT. This analysis, alongside the strong level of reserves, provides confidence that the charity is well placed to meet its financial obligations as they fall due. Having regard to the above, the Directors believe it appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements. Yarm School directly employs in excess of 240 staff, which generates more than £3.6m of tax and saves the economy more than £7.5m annually through educating pupils privately. The school's total contribution to UK GDP is more than £29m annually of which £14.7m is the contribution to GDP within the local area. N1

Statement of Accounting and Reporting Responsibilities The Directors are responsible for preparing the Directors, Report and the financial statements in accordance with applicable law and regulation5. RelevantAudit Information Each of the persons who are directors at the time when thi5 Directors, Report is approved has confirmed that.. so far as that director is aware. there is no relevant audit information of which the company's auditors are unaware; and that director has taken all the steps that ought to have been taken a5 a director in order to be aware of any information needed by the company s auditors in connection with preparing its report and to estsblish that the company's uditors are aware ol that information. Company law requires Directors to prepare financial statements for each financial year. Under that law the Di rectors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice Iunited Kingdom Accounting Standards) and applicable law. Under cornpany law the Directors must not approve the financial slalements unless they are satisfied that they give a true and lair view ol the state ol affairs of the company and the group and of the surplus or The auditors, Waltons Business Advisers Li m ited, delicil of the group for that period. In preparing these have expressed their willingness to conti nue in linanciol statements, the Directors are required to.. office and will be proposed for reappointment in select suitable accounting policies and then accordance with section 485 of the Companies Act apply them consistently., 2006. make judgements and accounting estimates that are reasonable and prudent- Approved by the Governing Body on 2nd December prepare the financial statements on the 8oin8 2025, including, in their capacity as company concern basis unless it is inappropriate to directors, approving the Directors, and Strategic presume that the group will continue in business. Reports contained therein, and signed on its behalf by.. The Directors are responsible lor keeping adequate accounting records that are sufficient to show 3nd oxplain the company's transactions and disclose with reasonable accuracy at any time the financial position ofthe company and group and enable them Mr MarkThompson (Chairman), BA, ACMA, CGMA to ensure that the financial statements comply with Director the Companies Act 2006. They are 3150 responsible Yarm School lor safeguarding the assets of the company and the group and hence for taki ng reasonable steps for the prevention and detection of fraud and other irregularities. Mrs Rebecca Brown (Vice-chairl, BA, ACA Director Yarm School Page 19

Officers and Professional Advisers Officers Investment Managers Headmaster DrP Hwilliams, BSc.PhD Coufts&co. 440 Strènd London.WC2ROQS Curnpany Secretary Mrs K M Hewjrd, BA.ACMA. CGMA Clerk to Governors Ms C J Evans, MA, MBA,ARCM Sollcltor Head ol Preparatory School Mrw E C Sawyer, BA, PGCE Bexley Beaumont Lid Centurion House 129 Deansgate Manchester. M3 3WR Registered Office & Principle Address Ei)deavour Partnership las 0128107125 merged with Vard Hadawayl Tobias House Sl1Oark's Court Teesdale Business Park Teesside, TS17 6QW The Friarage Yarm Stockton on Tees TS159FJ Auditor School Webslte 'laltons Business Advisors MJrilime House Harbour Walk The Marina Harilepool, TS24 OUX www.yarm5chool.org Bankers National Westminster Bank 106 Linthorpe Ro3d MiddlesbroLJgh, TSI 2JX Insurnnce Broker A55uied Partners Hettle Andrews Eleven Brindley Place 2 Brunswick Square Birmingham. BL 2LP Barclay5 Bank PLC I Churchill Place London, E14 5HP Nationwide Building Society Nationwide House, Piper5 Way, Swindon, Wiltshire, SN38 INW

Governors, Directors and CharityTrustees The Governors of Yarm School are the charity trustees under ch31ity law and the directors of the charit3ble company. Those who served during the year are.. Mr M Thompson Ic￿￿r•IfjUyWnM￿ BAIHonsl. ACMA, CGMA MrJ Ferguson MA, FRCS Finance ar￿ General Purposes Cornmittee Salariescommittee Educèiion Commiltee Education Committee Compliantècommilteè A￿0T1[Wol￿Ing8I0￿psa5￿aYb? Jpffe￿ bvtheknhrJlrtsmtiMetotiw. Mrs R Brown 1￿C￿c￿lI1 BA,ACA MrCdeJong MA, MBA Finaiice ar￿ (neial Puiposes Commitiee Salarie5Commirtee ComplianceCommil(ee Finance8nd Generèl Purposes Cofflrnittee Mrl Lovat BSC, PGCE Drs Akowuah M8ChB. MRCGP. DRCOG. DCM Main board Education CommittQQ CompliancÈCtsmmillee Main tsoard Education Committee Compliancecomrnitt an¢oiheiVrti￿jn11rr￿S8s￿yte Mrs G Mitf hell BA, QTS MrP Barron Main Boafd £dJcalion Commiitee andgthprwUthbnR￿QU￿Sa5￿1Ybp R1eedb¥theBpa'df'pmlimeio Ilme Finance and Gener81 Purpt>5e5 Commiitee salari￿ Committee MrA M Turner Bsc, MB. ChB, MRCSIEngl, IHÈtlrtd41T1151 MRCSIEdl, FEAPV, PhD Mèin Board Compliancecotnrnittee otherwDTkingBtyup5b5mBybe a81£*dbytheBc0idf￿0Mi1￿e1QlIMe DrP Chapman MA, PhD Education Cotntnittee Compliancecommitiee andollieiworkingyoupsasmtybe reed by1ho￿rdIro￿ll￿￿E0tr￿e. All Governors Wlth 3 declared conflict of interest arising from their having children 3t Yarm School will routinely abstain from voting or otherwise influencing discussions on setting school fees. Page21

YARM SCHOOL

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF YARM SCHOOL

UNQUALIFIED OPINION

We have audited the financial statements of Yarm School (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 August 2025 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the School balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Page 22

YARM SCHOOL

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF YARM 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 Directors are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

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

Responsibilities of trustees

As explained more fully in the Directors' responsibilities statement, the Directors (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 Directors 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 Directors are responsible for assessing the group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Page 23

YARM SCHOOL

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF YARM 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. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

• Obtained an understanding of the nature of the sector, including the legal and regularity framework that the School and trading company operates in and how they are complying with the legal and regularity framework

As a result of these procedures we considered the most significant laws and regulations which have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006 and the School’s governing document. We performed audit procedures to detect non-compliance which may have a material impact on the financial statements which included reviewing the financial statements including the director’s report and remaining alert to new or unusual transactions which may not be in accordance with the governing documents.

The audit engagement team identified the risk of management override of controls and income recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Audit procedures performed included, but were not limited to:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 24

YARM SCHOOL

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

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an 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.

Heather O'Driscoll FCA (Senior statutory auditor)

for and on behalf of Waltons Business Advisers Limited

Chartered Accountants and Statutory Auditors

Harbour Walk

The Marina Hartlepool TS24 0UX

Date:

Page 25

YARM SCHOOL

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

Note
INCOME FROM:
Donations and legacies
3
Charitable activities:
4
School fees
Other educational income
Other ancillary income
Other trading activities
5
Investments
6
Other income
7
TOTAL INCOME
EXPENDITURE ON:
Raising funds
9
Charitable activities
10
TOTAL EXPENDITURE
NET INCOME BEFORE NET GAINS
ON INVESTMENTS
Net gains on investments
NET INCOME
Transfers between funds
26
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement in funds
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2025
£000
-
15,929
235
1,365
969
427
8
18,933
1,651
16,755
18,406
527
50
577
25
602
41,595
602
42,197		 Restricted
funds
2025
£000
81
-
-
-
-
-
-
81
-
-
-
81
-
81
(25)
56
186
56
242		 Total
funds
2025
£000
81
15,929
235
1,365
969
427
8
19,014
1,651
16,755
18,406
608
50
658
-
658
41,781
658
42,439		 Total
funds
2024
£000
102
15,760
233
1,283
810
359
24
18,571
1,490
15,716
17,206
1,365
208
1,573
-
1,573
40,208
1,573
41,781

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

The notes on pages 31 to 55 form part of these financial statements.

Page 26

YARM SCHOOL REGISTERED NUMBER: 04451356

CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2025

Note
FIXED ASSETS
Tangible assets
16
Investments
18
CURRENT ASSETS
Stocks
19
Debtors
20
Investments
21
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one
year
22
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
Creditors: amounts falling due after more
than one year
23
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
26
Unrestricted funds
26
TOTAL FUNDS		 30
533
4,663
1,876
7,102
(5,610)		 2025
£000
46,464
4,079
50,543
1,492
52,035
(9,596)
42,439
242
42,197
42,439		 30
458
4,510
4,988
9,986
(6,865)		 2024
£000
45,782
3,963
49,745
3,121
52,866
(11,085)
41,781
186
41,595
41,781

The Directors 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 Directors and signed on their behalf by:

Mr M Thompson (Chairman), BA (Hons) ACMA, CGMA

(Chair of Trustees) Date:

The notes on pages 31 to 55 form part of these financial statements.

Page 27

YARM SCHOOL REGISTERED NUMBER: 04451356

SCHOOL STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2025

Note
FIXED ASSETS
Tangible assets
16
Investments
18
CURRENT ASSETS
Stocks
19
Debtors
20
Investments
21
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one
year
22
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
Creditors: amounts falling due after more
than one year
23
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
26
Unrestricted funds
26
TOTAL FUNDS		 13
532
4,663
1,560
6,768
(5,259)		 2025
£000
46,432
4,079
50,511
1,509
52,020
(9,596)
42,424
242
42,182
42,424		 15
509
4,510
4,571
9,605
(6,525)		 2024
£000
45,759
3,963
49,722
3,080
52,802
(11,085)
41,717
186
41,531
41,717

The Directors 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 Directors and signed on their behalf by:

Mr M Thompson (Chairman), BA (Hons) ACMA, CGMA (Chair of Trustees) Date:

Page 28

YARM SCHOOL

SCHOOL STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 AUGUST 2025

The notes on pages 31 to 55 form part of these financial statements.

Page 29

YARM SCHOOL

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest and dividends received
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Pre registration VAT claim
NET CASH USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Cash inflows from new borrowing
Repayments of borrowing
Interest paid
Decrease/(increase) in over 3 month deposit accounts
Decrease/(increase) in cash held in investment portfolio
NET CASH PROVIDED BY FINANCING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR		 2025
£000
(415)
427
10
(2,202)
147
(1,618)
-
(140)
(720)
1,408
(70)
478
(1,555)
7,826
6,271		 2024
£000
7,778
359
24
(3,939)
-
(3,556)
1,000
(144)
(742)
439
(69)
484
4,706
3,120
7,826

The notes on pages 31 to 55 form part of these financial statements

Page 30

YARM SCHOOL

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

1. GENERAL INFORMATION

The School is a company limited by guarantee and incorporated in England and Wales. The address of the registered office is, Yarm School The Friarage Yarm TS15 9EJ

The members of the company are the Directors named on page 3. In the event of the School being wound up, the liability in respect of the guarantee is limited to £1 per member of the School.

2. ACCOUNTING POLICIES

2.1 Basis of preparation of financial statements

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

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

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the School and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The School has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.

The surplus on the income and expenditure account for the year dealt with in the financial statements of the School was £707k (2024: £1,501k) and the gross income of the School was £20m (2024: £18.9m).

2.2 Going concern

The Directors, having made due and careful enquiry and preparing forecasts, are of the opinion that the School has adequate working capital to execute its operations over the next twelve months. The Directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. As a result the Directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

Page 31

YARM SCHOOL

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

2. ACCOUNTING POLICIES (CONTINUED)

2.3 Income

All income is recognised once the 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 consist of charges billed for the year after deducting scholorships, bursaries and allowances.

Bursary, scholorship and allowance deductions are included in the period for which the award is given and are treated as a reduction of the fees to which they relate.

Donations received for the general purposes of the School are included in unrestricted funds. Donations for activities restricted by the wishes of the donor are taken to restricted funds.

Grants received for a specific purpose are taken to restricted funds.

Trading income includes income from performances in the auditorium, auditorium hire, bar sales and the sale of school uniforms and other goods in the school shop.

Investment income is recognised on an accruals basis.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Costs of raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities are costs incurred on the School's educational operations, including support costs and costs relating to the governance of the School and allocated on a specific basis.

2.5 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Directors 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 Directors 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.

Page 32

YARM SCHOOL

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

2. ACCOUNTING POLICIES (CONTINUED)

2.6 Advance fees scheme

The School gives parents the opportunity to pay fees in advance. A discount is allowed when calculating the advance payments to reflect the interest which can be earned by the School. Fees for future years are estimated when the advance fee is calculated and any difference when actual fee levels are known is charged/credited to parents’ main account.

2.7 Tangible fixed assets and depreciation

Expenditure on the acquisition, construction or enhancement of land and buildings costing more than £1k together with vehicles, furniture, machinery, ICT infrastructure and other equipment costing more than £1k are capitalised and carried in the balance sheet at historical cost. In the case of a large capital scheme costing in excess of £1k all amounts relating to this will be capitalised even if individual items are below £1k. In certain circumstances, where the original costs of assets are not ascertainable, a reasonable estimate of the cost, if material, has been used.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on the following bases:

Depreciation is not charged in the first 12 months of ownership.

2.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

2.9 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 33

YARM SCHOOL

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

2. ACCOUNTING POLICIES (CONTINUED)

2.11 Cash at bank and in hand

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

2.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the school anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.

2.13 Financial instruments

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.14 Pensions

The School contributes to the Teachers’ Pension Scheme at rates set by the Scheme Actuary and advised to the Directors by the Scheme Administrator.

The scheme is a multi employer pension scheme, and it is not possible to identify assets and liabilities of the scheme which are attributable to the School (see note 32). In accordance with FRS 102 therefore the scheme is accounted for as a defined contribution scheme. In addition the School operates defined contribution schemes for non-teaching staff. Contributions to both schemes are charged to the SOFA as they become payable in accordance with the scheme rules.

The School also contributes to the Aptis scheme. The scheme is a multi employer pension scheme, and it is not possible to identify assets and liabilities of the scheme which are attributable to the School (see note 32). In accordance with FRS 102 therefore the scheme is accounted for as a defined contribution scheme.

Page 34

YARM SCHOOL

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

3. INCOME FROM DONATIONS AND GRANTS

Donations
Total 2024		 Restricted
funds
2025
£000
81
102		 Total
funds
2025
£000
81
102		 Total
funds
2024
£000
102

4. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
2025
£000
School fees
15,929
Other educational income
235
Other ancillary income
1,365
17,529
Total 2024
17,276
4a.
SCHOOL FEES
School fees
Bursaries, scholarships and allowances
VAT financial support		 Total
funds
2025
£000
15,929
235
1,365
17,529
17,276
17,768
(1,039)
(800)
15,929		 Total
funds
2024
£000
15,760
233
1,283
17,276
16,839
(1,079)
-
15,760

Scholarships and bursaries of £531k were awarded to 63 pupils (2024 - £629k to 82 pupils). This includes £10k of additional hardship bursaries awarded.

Page 35

YARM SCHOOL

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

4b. OTHER EDUCATIONAL INCOME

Registration, exam fees and fees in lieu
After school activities and sundry		 204
31
235		 214
19
233

4c. OTHER ANCILLARY INCOME

Catering
Bus income		 1,002
363
1,365		 905
378
1,283

5. TRADING ACTIVITIES

Unrestricted
funds
2025
£		 Restricted
funds
2025
£		 Total funds
2025
£		 Total funds
2024
£
Charity trading income
Uniform sales 2 - 2 10
Auditorium and ticket sales 686 - 686 616
Holiday schools 53 - 53 55
Hirings 88 - 88 25
Other auditorium sales 140 140 104
Sub total 969 969 810
Charity trading expenses
Holiday school expenditure 53 - 53 54
Depreciation 5 - 5 1
Uniform costs 5 - 5 4
Refreshment and bar costs 441 - 441 415
Staff costs 230 - 230 103
Auditorium running costs 151 151 137
Sub total 885 - 885 714
Net (expenditure)/income from trading
activities		 84 - 84 96

Page 36

YARM SCHOOL

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

6. INVESTMENT INCOME

Dividend received
Bank interest received
Total 2024
OTHER INCOMING RESOURCES

Surplus on sale of assets
Total 2024		 Unrestricted
funds
2025
£000
96
331
427
359
Unrestricted
funds
2025
£000
8
24		 Total
funds
2025
£000
96
331
427
359
Total
funds
2025
£000
8
24		 Total
funds
2024
£000
95
264
359
Total
funds
2024
£000
24

7. OTHER INCOMING RESOURCES

Page 37

YARM SCHOOL

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

8. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

Staff costs
2025
£000		 Depreciation
2025
£000
Other costs
2025
£000		 Depreciation
2025
£000
Other costs
2025
£000		 Total
2025
£000		 Total
2024
£000
Costs of raising funds - - 765 765 776
Trading costs 230 5 650 885 714
Costs of raising funds 230 5 1,415 1,650 1,490
Teaching 9,552 895 1,355 11,802 11,314
Welfare - 2 1,090 1,092 1,056
Premises 846 303 1,292 2,441 2,104
Support 840 154 399 1,393 1,221
Charitable activities 11,238 1,354 4,136 16,728 15,695
Governance - - 27 27 21
Total 2025 11,468 1,359 5,578 18,405 17,206
Total 2024 10,561 1,474 5,171 17,206 -

9. RAISING FUNDS

Unrestricted
funds		 Total
funds		 Total
funds
2025 2025 2024
£000 £000 £000
Bank interest paid 720 720 742
Bad debt 45 45 34
Trading costs (note 5) 886 886 714
Total 2025 1,651 1,651 1,490
Total 2024 1,490 1,490

Page 38

YARM SCHOOL

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

10. CHARITABLE ACTIVITY

Teaching
Welfare
Premises
Support
Governance
Total 2025
Total 2024
11.
GOVERNANCE COSTS
Auditors'remuneration
Pension advice
Legal advice
Total 2025
Total 2024
12.
NET MOVEMENT IN FUNDS
Net movement in funds
Capital expenditure		 Unrestricted
funds		 Restricted
funds		 Restricted
funds		 Total
funds		 Total
funds
2025 2025 2025 2024
£000 £000 £000 £000
11,802 - 11,802 11,314
1,092 - 1,092 1,056
2,441 - 2,441 2,104
1,393 - 1,393 1,221
27 - 27 21
16,755 - 16,755 15,716
15,702 14 15,716
Unrestricted
funds		 Total
funds		 Total
funds
2025 2025 2024
£000 £000 £000
12 12 10
7 7 7
8 8 4
27 27 21
21 21
2025
£000
658
(2,202)
(1,544)		 2024
£000
1,573
(3,939)
(2,366)

Page 39

YARM SCHOOL

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

13. AUDITORS' REMUNERATION

2025 2024
£000 £000
Fees payable to the School's auditor for the audit of the School's annual
accounts 12 10
Fees payable to the School's auditor in respect of:
All taxation advisory services not included above 3 3

14. STAFF COSTS

Wages and salaries
Social security costs
Pension costs		 Group
2025
£000
8,441
947
2,080
11,468		 Group
2024
£000
8,010
824
1,727
10,561		 School
2025
£000
8,233
937
2,068
11,238		 School
2024
£000
7,907
824
1,727
10,458

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

Education
Premises
Support		 Group
2025
No.
185
45
24
254		 Group
2024
No.
188
39
23
250		 School
2025
No.
185
42
24
251		 School
2024
No.
188
31
23
242

The average headcount expressed as full-time equivalents was:

Education
Premises
Support		 Group
2025
No.
150
30
18
198		 Group
2024
No.
157
24
18
199		 School
2025
No.
150
24
18
192		 School
2024
No.
157
18
20
195

Page 40

YARM SCHOOL

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

14. STAFF COSTS (CONTINUED)

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

Group Group
2025 2024
No. No.
In the band £60,001 - £70,000 11 6
In the band £70,001 - £80,000 2 2
In the band £80,001 - £90,000 1 1
In the band £90,001 - £100,000 1 2
In the band £100,001 - £110,000 1 -
In the band £150,001 - £160,000 1 1

Contributions were paid to the Teacher's Pension Scheme for the higher paid employees.

Indemnity insurance is paid in respect of the Directors. It is not possible to quantify the premium paid as it is included in the School's public liability premium.

Total remuneration paid to key management personnel was £568k (2024 - £540k).

15. DIRECTORS' REMUNERATION AND EXPENSES

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

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

Page 41

YARM SCHOOL

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

16. TANGIBLE FIXED ASSETS

Group

Cost
At 1 September 2024
Additions
Disposals
Pre registrations capital goods scheme
reclaim
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
£000
53,453
1,775
-
(36)
55,192
9,087
939
-
10,026
45,166
44,366		 Motor
vehicles
£000
483
43
(27)
(12)
487
335
27
(27)
335
152
148		 Fixtures,
fittings &
equipment
£000
6,193
384
(390)
(99)
6,088
4,925
405
(388)
4,942
1,146
1,268		 Total
£000
60,129
2,202
(417)
(147)
61,767
14,347
1,371
(415)
15,303
46,464
45,782

Page 42

YARM SCHOOL

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

16. TANGIBLE FIXED ASSETS (CONTINUED)

School

Cost
At 1 September 2024
Additions
Disposals
Pre registrations capital goods scheme
reclaim
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
£000
53,453
1,775
-
(36)
55,192
9,087
939
-
10,026
45,166
44,366		 Motor
vehicles
£000
483
43
(27)
(12)
487
335
27
(27)
335
152
148		 Fixtures and
fittings
£000
6,169
370
(390)
(99)
6,050
4,924
400
(388)
4,936
1,114
1,245		 Total
£000
60,105
2,188
(417)
(147)
61,729
14,346
1,366
(415)
15,297
46,432
45,759

Included in land and buildings is freehold land at cost of £2,399k (2024: £2,399k) which is not depreciated.

Page 43

YARM SCHOOL

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

17. PRINCIPAL SUBSIDIARIES

Yarm School Trading Limited

Subsidiary name Yarm School Trading Limited Company registration number 04436079 Basis of control Shareholding Equity shareholding % 100% Total assets as at 31 August 2025 406,097 Total liabilities as at 31 August 2025 (390,909) Total equity as at 31 August 2025 15,188 Turnover for the year ended 31 August 2025 867,975 Expenditure for the year ended 31 August 2025 (862,656) Profit for the year ended 31 August 2025 5,319

The registered office of Yarm School Trading Limited is:

Yarm School The Friarage Yarm TS15 9EJ

18. FIXED ASSET INVESTMENTS

Group and School
Cost or valuation
At 1 September 2024
Dividends received
Revaluations
Additions
Transfers between classes
Investment manager fees
At 31 August 2025		 Listed
investments
£000
3,844
-
46
6
183
-
4,079		 Unlisted
investments
£000
119
87
-
-
(183)
(23)
-		 Total
£000
3,963
87
46
6
-
(23)
4,079

Page 44

YARM SCHOOL

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

19. STOCKS

Stock for resale
20.
DEBTORS
Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Fee debtors
Prepayments and accrued income
21.
CURRENT ASSET INVESTMENTS
Listed investments
Deposit accounts		 Group
2025
£000
30
Group
2025
£000
31
-
15
108
379
533
Group
2025
£000
20
4,643
4,663		 Group
2024
£000
30
Group
2024
£000
11
-
25
65
357
458
Group
2024
£000
15
4,495
4,510		 School
2025
£000
13
School
2025
£000
30
41
15
108
338
532
School
2025
£000
20
4,643
4,663		 School
2024
£000
15
School
2024
£000
-
63
24
65
357
509
School
2024
£000
15
4,495
4,510

The market value of the current asset listed investments at 31 August 2025 was £20k (2024: £15k)

Page 45

YARM SCHOOL

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

22. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
Trade creditors
Other taxation and social security
Development bonds
Fees in advance of term
Other creditors
Deposited fees
Acceptance deposits
Trading income in advance		 Group
2025
£000
144
355
1,109
8
1,483
841
1,320
34
316
5,610		 Group
2024
£000
127
299
205
8
3,834
784
1,277
27
304
6,865		 School
2025
£000
144
341
1,101
8
1,483
828
1,320
34
-
5,259		 School
2024
£000
127
280
197
8
3,834
775
1,277
27
-
6,525

Other creditors include pension contributions payable of £179k (2024: £172k).

The development bonds may be redeemed at the end of any School year.

Page 46

YARM SCHOOL

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

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

Bank loans
Acceptance deposits
Deposited fees		 Group
2025
£000
8,613
259
724
9,596		 Group
2024
£000
8,770
271
2,044
11,085		 School
2025
£000
8,613
259
724
9,596		 School
2024
£000
8,770
271
2,044
11,085

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

Payable or repayable by instalments Group
2025
£000
6,856
6,856		 Group
2024
£000
7,065
7,065		 School
2025
£000
6,856
6,856		 School
2024
£000
7,065
7,065

At the year end the loan facility is £17.5m to part-finance the development of the School buildings and facilities, and is repayable over a total of 25 years.

The bank loan is secured by a legal charge over the freehold property at Grammar School Lane, The Spital and The Friarage, Yarm.

The total loan is split into two parts. The first is a term loan over 25 years with interest charged at 2.25% over base rate. The second is a 10 Year Committed Facility structured by way of 5 year Revolving Credit Facility (RCF) to allow for development drawdowns, this is converted to an amortising Loan for the remaining 5 years based on a 20 year repayment profile.

Page 47

YARM SCHOOL

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

24. FEES IN ADVANCE

Parents may enter into a contract to make a deposit to pay fees in advance. The money may be returned subject to specific conditions.

Assuming pupils remain with the School, deposited fees will be applied as follows:

Within one year
Within one to two years
Within two to five years
The movements during the year were:
Balance at 1 September 2024
New receipts of deposited fees
Amounts utilised on fees to the School
Balance at 31 August 2025		 2025
£000
1,320
536
188
2,044
2025
£000
3,321
-
(1,277)
2,044		 2024
£000
1,277
724
1,320
3,321
2024
£000
60
3,299
(38)
3,321

25. ACCEPTANCE DEPOSITS

Other creditors include acceptance deposits which are repayable as follows:

Within one year
Within one to two years
Within two to five years		 2025
£000
34
259
-
293		 2024
£000
27
271
-
298

Page 48

YARM SCHOOL

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

26. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Unrestricted
funds
General Funds
Freehold
Property Fair
Value
Funds Held in
Trading
Subsidiary
Restricted
funds
Capital
Equipment
Development
and Resources
Fund
Bursary Trips &
Hardship Fund
Total of funds		 Balance at 1
September
2024
£000
35,447
6,083
65
41,595
139
24
23
186
41,781		 Income
£000
18,065
-
868
18,933
70
7
4
81
19,014		 Expenditure
£000
(17,543)
-
(863)
(18,406)
-
-
-
-
(18,406)		 Transfers
in/out
£000
205
(180)
-
25
(25)
-
-
(25)
-		 Gains/
(Losses)
£000
50
-
-
50
-
-
-
-
50		 Balance at
31 August
2025
£000
36,224
5,903
70
42,197
184
31
27
242
42,439

Page 49

YARM SCHOOL

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

26. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - PRIOR YEAR

Unrestricted
funds
General Funds
Freehold
Property Fair
Value
Funds Held in
Trading
Subsidiary		 Balance at
1 September
2023
£000
33,835
6,261
10
40,106		 Income
£000
17,715
-
754
18,469		 Expenditure
£000
(16,533)
-
(659)
(17,192)		 Transfers
in/out
£000
222
(178)
(40)
4		 Gains/
(Losses)
£000
208
-
-
208		 Balance at
31 August
2024
£000
35,447
6,083
65
41,595

Page 50

YARM SCHOOL

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

26. STATEMENT OF FUNDS (CONTINUED)

Restricted
funds
Capital
Equipment
Educational
Trips Fund
Development
and Resources
Fund
Bursary Trips &
Hardship Fund
Total of funds		 Balance at
1 September
2023
£000
37
12
35
18
102
40,208		 Income
£000
93
-
2
7
102
18,571		 Expenditure
£000
-
(12)
-
(2)
(14)
(17,206)		 Transfers
in/out
£000
9
-
(13)
-
(4)
-		 Gains/
(Losses)
£000
-
-
-
-
-
208		 Balance at
31 August
2024
£000
139
-
24
23
186
41,781

STATEMENT OF FUNDS

On transition to FRS 102 the School took the opportunity to revalue land and buildings. This uplift went to the fair value reserve. The new value is treated as deemed cost in the financial statements.

An annual transfer is made between the general unrestricted fund and the fair value reserve in order to reflect the element of depreciation due to this revaluation of land and buildings. This reserve will reduce over the life of the assets concerned.

The Capital Equipment Fund represent donations received to finance the purchase of equipment. Income represents donations towards assets and expenditure includes the depreciation charged on the assets to which the donations contributed.

The Educational Trips fund represents funds received towards specific trips.

The Development and Resources fund is for development expenditure or specific department resources.

The Bursary and Hardship fund represents donations made by parents following the reduction in summer term fees. These funds will continue to be used for bursary support (including fee support and trips).

Page 51

YARM SCHOOL

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

27. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted
funds
2025
£000
Tangible fixed assets
46,280
Fixed asset investments
4,079
Current assets
7,043
Creditors due within one year
(5,610)
Creditors due in more than one year
(9,596)
Total
42,196		 Restricted
funds
2025
£000
184
-
58
-
-
242		 Total
funds
2025
£000
46,464
4,079
7,101
(5,610)
(9,596)
42,438

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2024
£000
45,643
3,963
9,939
(6,865)
(11,085)
41,595		 Restricted
funds
2024
£000
139
-
47
-
-
186		 Total
funds
2024
£000
45,782
3,963
9,986
(6,865)
(11,085)
41,781

Page 52

YARM SCHOOL

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

RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 28. ACTIVITIES

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on investments
Interest and dividends received
Surplus on the sale of fixed assets
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Interest paid
Net cash provided by/(used in) operating activities		 Group
2025
£000
658
1,371
(50)
(427)
(8)
-
(75)
(2,604)
720
(415)		 Group
2024
£000
1,573
1,473
(208)
(359)
(24)
(6)
30
4,557
742
7,778

29. ANALYSIS OF CASH AND CASH EQUIVALENTS

Cash in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents		 Group
2025
£000
1,876
4,395
6,271		 Group
2024
£000
4,988
2,838
7,826

Page 53

YARM SCHOOL

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

30. ANALYSIS OF CHANGES IN NET DEBT

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Liquid investments		 At 1
September
2024
£000
4,988
(127)
(8,770)
4,510
601		 Cash flows
At 31
August 2025
£000
£000
(3,112)
1,876
(17)
(144)
157
(8,613)
153
4,663
(2,819)
(2,218)

31. CAPITAL COMMITMENTS

Group Group School School
2025 2024 2025 2024
£000 £000 £000 £000
Contracted for but not provided in these
financial statements
Acquisition of tangible fixed assets 1,460 202 1,460 202

32. PENSION COMMITMENTS

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 £1,819k (2024 - £1,549k) and at the yearend £179k (2024 - £172k) was accrued in respect of contributions to this scheme.

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. All teachers have the option to opt-out of the TPS following enrolment. The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions.

Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI.

The key elements of the valuation outcome are:

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YARM SCHOOL

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

32. PENSION COMMITMENTS (CONTINUED)

levy). This is an increase of 5% in employer contributions and the cost control result is such that no change in member benefits is needed.

The result of this valuation was implemented on 1 April 2024.The next valuation result is due to be implemented from 1 April 2027.

33. RELATED PARTY TRANSACTIONS

The school has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the School at 31 August 2025.

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