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2025-08-31-accounts

Salisbury Cathedral School Limited (A company limited by guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS

for the year-ended 31 August 2025

Company number: 04461932 Charity number: 1093554

Salisbury Cathedral School Limited (A company limited by guarantee) CONTENTS


CONTENTS
Page
Statutory Information 1
Report of the Governors 2 – 11
Report of the Auditors 12 - 14
Statement of Financial Activities 15
Balance Sheet 16
Statement of Cash Flows 17
Notes to the Financial Statements 18 - 32

Salisbury Cathedral School Limited (A company limited by guarantee) STATUTORY INFORMATION for the year-ended 31 August 2025

MEMBER

The Cathedral Church of the Blessed Virgin Mary of Salisbury

GOVERNORS

Mr J R W Clements – Chair of Governors Mr J Sloan* – Vice Chair

Mrs S Lumley (resigned 12[th] March 2025) Mr T M Olliff-Lee The Revd Canon A Macham* Mr W Ings Mr T J Crarer (resigned 8 October 2024) Mr L Lyon-Taylor (resigned 16[th] October 2025 Mrs C Firth (resigned 26[th] January 2025) Mr J W Cooper Mr A C Treadaway (appointed 24 January 2025) Mrs H R A Bagshaw (appointed 25 June 2025)

DIRECTORS

All Governors are recorded at Companies House as Directors.

SENIOR LEADERSHIP TEAM

Head Teacher Deputy Head Teacher Head of Pre-Prep Designated Safeguarding Lead Finance Manager Estates Manager

Mrs Sally Moulton Mrs Emma Reach Mrs Linda Cunningham-Brown Mr Tom Halliday (appointed 1 September 2025) Mr Jack Shrubsall Mr Josh Conway

ADDRESS & REGISTERED OFFICE

1, The Close Salisbury Wiltshire SP1 2EQ www.salisburycathedralschool.com

ADVISERS

BANKERS SOLICITORS AUDITORS Lloyds TSB Bank plc Wilsons LLP Fawcetts LLP, 38 Blue Boar Row Alexandra House, Windover House, Salisbury St John’s Street, St Ann Street SP1 1DA Salisbury Salisbury SP1 3SS SP1 2DR

Company number: 04461932 Charity number: 1093554

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GOVERNORS’ REPORT for the year-ended 31 August 2025

Salisbury Cathedral School Limited (A company limited by guarantee)

The Governors present their annual report together with the audited accounts for the year-ended 31 August 2025.

REFERENCE AND ADMINISTRATIVE INFORMATION

Salisbury Cathedral School (SCS) is a company limited by guarantee, incorporated on 14 June 2002, whose sole member is the Cathedral Church of the Blessed Virgin Mary of Salisbury (a corporation which acts through the body known as Chapter). The company is also a registered charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Body

Under the terms of the Articles of Association, the Directors are referred to as Governors of whom there shall not be less than eight and not more than fourteen, plus the Chairman.

Recruitment, induction and training of Governors

The Cathedral Church of the Blessed Virgin Mary of Salisbury has the power to appoint and remove Governors who are appointed for five year terms. Both the Governing Body and the Cathedral Chapter give careful consideration to new Governor appointments to ensure any skills shortages are filled. New Governors are inducted into the workings of the school, including policy and procedures at induction meetings with the Head and Clerk. Governors are encouraged to attend appropriate external training seminars and conferences.

Organisation

The Governors are legally responsible for the overall management of the school and meet at least three times a year. The work of implementing most of their policies is carried out by the members of the Finance and General Purposes Committee (F&GP) who typically meet two weeks before each meeting of the full Governing body.

The day to day running of the school is delegated to the Head Teacher, supported by their senior leadership team.

Risk Management

The Governors examine the major risks that the school faces each financial year. The Charity has developed systems to monitor and control these risks and to mitigate any impact they may have on the school’s future.

Key Management Personnel

Key Management Personnel comprises the Senior Leadership Team. The pay for Key Management Personnel is based on SCS Pay Scales and is agreed by Governors.

Volunteers

The school benefits greatly from having volunteers. These include work experience students, parents, community members and Governors.

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

Charitable Objects

The objects of the Charity are to promote and provide for the advancement of education and the advancement of religion in accordance with the practices of the Church of England for the benefit of the public. For the furtherance of these objects, the Charity has various permanent endowments and un-endowed trust funds held for special purposes in connection with the development of the school’s facilities and for scholarships, bursaries, prizes and other choral and educational purposes.

The Charity pursues its objects by running an IAPS accredited Preparatory School, with a Pre-Preparatory department located in the Cathedral Close.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2025

Aims & Objectives

Salisbury Cathedral School is committed to ensuring that pupils achieve an excellent academic grounding, and confidence in their abilities, ready for senior school. All pupils should benefit from the values, cultures and disciplines of the school throughout their time here and beyond.

In setting objectives and in planning the activities of the school, Governors have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to the supplementary public benefit guidance on advancing education and on fee charging. Our guiding aims and objectives are:

  1. To ensure all pupils reach their academic potential, through effective teaching, learning and assessment.

  2. To provide wide-ranging and high quality co-curricular and enrichment opportunities for all pupils both within and beyond the curriculum.

  3. To ensure our school and community reflects our Christian foundation by providing the best possible provision for the spiritual, moral, social and cultural development of our pupils.

  4. To provide pupils with the very highest quality of pastoral care by valuing and supporting them in the diversity of their identities, beliefs, interests and needs.

  5. To establish strong partnerships in our community:

  6. By fostering and developing our dedication to a shared purpose with our core partners (parents,

  7. alumni, Salisbury Cathedral and CSA).

  8. Through charitable activities and events with the wider community.

  9. To maintain and further develop a strong business model through careful financial management and an effective commercial strategy.

  10. To nurture and develop our resources with sustainability, coherence and ambition.

EXECUTIVE SUMMARY

Salisbury Cathedral School provides a broad and high-quality education, ensuring pupils achieve strong academic outcomes and are well-prepared for senior school. All pupils leaving in summer 2025 gained entry to their first-choice schools, with a high proportion awarded scholarships across a range of disciplines. Assessment data confirms attainment in English and Maths at or above national averages.

The Pre-Prep and Nursery have developed further, with enhanced facilities, specialist teaching, and effective wrap-around care. Key transitions are well-supported to ensure continuity and confidence.

Music, drama, and sport remain key strengths of the school. Pupils benefit from extensive ensembles, regular performances, and high-quality instruction, with many achieving scholarships and high examination results. Partnerships with the Cathedral, local schools, and community organisations provide unique opportunities for learning, partnership, and charitable engagement.

The Sports Scholarship and Performance Sport Programmes continue to thrive, offering tailored coaching, competition, and leadership development. Teams performed strongly across disciplines, including football, rugby, netball, hockey, athletics, and cricket, with new initiatives such as a cricket tour enhancing experience and resilience.

Salisbury Cathedral School maintains strong links with the local and wider community. Choristers perform in Cathedral services, diocesan concerts, and charitable events, while pupils contribute to local schools, Exeter House, and charitable initiatives. Fundraising and alumni engagement remain active, with the Garden Project progressing successfully and continued support from parents and local businesses.

Overall, the school continues to deliver its aims: fostering academic excellence, high-quality co-curricular provision, Christian values, pastoral care, and strong community partnerships.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2025

REVIEW OF ACTIVITIES & ACHIEVEMENTS

The most noticeable indicator of the school’s success is a healthy pupil role, and a high percentage of Year 8 children being awarded a scholarship, at a time when other similar prep schools are suffering in the current economic climate. Maintaining and improving pupil numbers is one of the school’s key objectives.

Pupil Numbers

The number of pupils at the end of the school year was 224 including 10 boarders.

At the end of the academic year there were 40 new pupils scheduled to start in the autumn term 2025.

Teaching and Learning

The school educates and prepares all pupils to meet the standards required to enter the next school most suited to their needs. This is evidenced by the fact that all pupils leaving in the summer of 2025 gained entry to their first-choice school at 13+. Furthermore, a number of pupils secured places at local grammar schools at 11+ in the face of strong competition. As usual, a high percentage of leavers were awarded scholarships to their next school across a range of disciplines.

ISI Inspection

The school hosted a routine ISI inspection in Autumn 2024. The summary of inspection findings included the following statements:

ISI Inspection Recommendations and Actions

Action taken: Year 8 had a dedicated careers day, which included a ‘speed dating’ style event with parents from a variety of careers speaking with the children. There was also a talk and demonstration from a farrier, and pupils had the opportunity to discuss agriculture while viewing a modern tractor brought on site.

Ensure the analysis of assessment data is used consistently and effectively to support lesson planning in order to achieve the best possible outcomes for pupils.

Action taken: A new assessment lead was employed in January 2025. A full review of assessment data, tracking and analysis took place. Individualised pupil summaries of assessment data can now be produced and shared with parents. Development in this area is ongoing.

Furthermore, pupil progress is tracked to monitor the effectiveness of teaching throughout the school, and this has been used to develop and enhance policy and classroom practice. National benchmarks were used to assess pupil performance in English and Maths and to identify both strengths in curriculum delivery and areas for development. Throughout the year, we continued to monitor and develop the teaching of spelling, with the aim of improving outcomes in this area of literacy.

Reassuringly, assessment data consistently shows that SCS attainment is at or above the national average in English and Maths across all year groups.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2025

Nursery

Apple Tree Nursery opened in January 2025 and continues to develop successfully. The 2-year-olds’ room is almost full, with waiting lists on some days across the nursery. Two Nursery Managers oversee operations alongside the Head of PrePrep - one focusing on educational quality and the other on operational management. There is an ongoing programme of staff recruitment to support expansion, and two practitioners are currently completing their Level 3 Early Years apprenticeships.

Teaching and Learning in the Pre-Prep

We continue to use Supersonic Phonic Friends as our phonics scheme, which engages the children effectively and has led to positive outcomes. In mathematics, we follow Karen Wilding EY Maths in Reception and White Rose from Year 1 onwards, ensuring a clear progression of skills and understanding. Children also benefit from a range of specialist teaching sessions, and every child in Pre-Prep has a timetabled Outdoor Learning session with Mr Frost, which is both enriching and loved by all.

Over the summer, significant development work was completed, including the construction of a new sandpit and play tunnel, as well as the relocation and expansion of the Year 2 classroom. The classroom is now a spacious, well-equipped learning environment with accessible toilet facilities. Further plans are in place to continue enhancing our garden and outdoor spaces to to provide the best possible environment for the children.

A number of children receive speech and language support from our external speech therapist, and the school also benefits from the expertise of the in-house Learning Support Department. Transitions between year groups are carefully planned and supported to ensure continuity and confidence for every child.

The ethos within the EYFS, including the Reception class, combines nurture with high expectations for personal, social, and academic development. The curriculum is built around children’s interests and fascinations to engage them fully. Outcomes at the end of Reception are strong, and during a recent visit, the ISI inspector noted that he was “seriously impressed.”

Many of our Pre-Prep children have working parents, and our wrap-around care provision, from 7:30 am to 6:00 pm, is popular and highly valued by the school community.

Transitions from Year 2 to Year 3 were a key focus, supported through meetings, documentation, and opportunities for Year 2 pupils to spend time in the Prep School ahead of the new school year. This included Year 2 parents taking a tour of the Prep School, and Year 2 children regularly attending hymn practice and Wednesday assemblies

Teaching and Learning in the Prep School

Years 3 & 4 have continued with their topic-based learning. This has involved offsite visits to enhance the learning experience. Focused interventions were put in place, some short term and others long term, to meet the needs of children in specific areas, such as reading, spelling and maths.

The Key Stage 2 Literacy Leader, appointed in December 2024, has developed the teaching of reading, writing, and spelling across Key Stage 2, ensuring clear progression from Key Stage 1 to 2, and from Key Stage 2 to 3. Promoting reading has been a particular focus, supported by various reading initiatives. A key text is now used as the basis for subsequent English work throughout Key Stage 2. Encouraging reading, particularly among boys, remains an ongoing area for development.

Sharing of good practice has enabled staff to engage with a wider variety of teaching and learning strategies and to respond effectively to the specific needs of individual pupils. The continued move away from the Common Entrance (CE) assessment framework at Key Stage 3 (Years 7 and 8) has been reinforced by the fact that the majority of senior schools no longer require CE results, instead using ISEB pre-tests and CAT4 at 11+ and 12+.

The assessment system in Years 7 and 8 for foundation subjects ensures that a range of techniques is used to provide a broad representation of each pupil’s progress, attainment, and learning style. Most Year 8 pupils required to sit the CE exams were only expected to complete papers in core subjects, although some pupils also sat CE exams in Latin and French.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2025

The teaching of Spanish was extended into Year 8 in 2024–25, demonstrating the school’s commitment to developing modern foreign languages.

Learning Support

The Learning Support Department has introduced child-in-focus plans and pupil passports to help teachers tailor teaching and learning to the range of abilities and needs within the classroom. The SEND register has been refined, and a monitoring system has been introduced. This works alongside a BRAG rating system to ensure all pupils are monitored academically and pastorally. The SENCO meets regularly with the Assistant Head (Wellbeing, DSL) and the ELSA teacher to ensure that all pupils are supported effectively. Dedicated training has been provided for teaching staff on ADHD, ASC, and strategies employed by an occupational therapist. This training will continue on a regular basis.

Extracurricular Activities

The school continues to offer a varied extra-curricular programme, both in terms of the number of clubs available and opportunities for external visits, such as trips to museums and outdoor areas of interest. Where possible, pupils are encouraged to explore the local environment.

Music

Music remains a key strength of Salisbury Cathedral School, with pupils and staff achieving consistently high standards. Our ensembles include choirs, orchestra, jazz orchestra, concert band, Ceilidh band, and chamber groups, and pupils are encouraged to form their own groups, such as a Year 6 rock band.

Partnerships with the Cathedral and wider community continue to flourish. The Voices InSpire project reached around 600 primary school children, culminating in Cathedral concerts, while Year 1 and Year 6 pupils worked with Exeter House and La Folia musicians to create music performed at the Salisbury International Arts Festival. These activities demonstrate the school’s commitment to Guiding Aim 5, combining partnership and charitable engagement.

Within the school, pupils regularly perform in chamber concerts, the Spring Concert, weekly Informal Concerts, and the Music Festival. Around 80% of the Prep School performed in the Spring Concert, and events such as Picnic in the Park raise funds to support Exeter House. Year 7 musicians also performed for the Retired Clergy at St Nicholas Hospital. Pupil achievement continues to be strong. Examination results included a Grade 8 piano merit, and pupils were awarded music scholarships to a wide range of senior schools. Seasonal performances included the Pre-Prep Nativity, the Christmas Carol Service, and a full programme of musicals across all year groups, with excellent standards of singing throughout.

Our Visiting Music Teachers continue to inspire pupils and contribute significantly to the school’s musical life. We bade farewell to Nicki Bond on her retirement and welcomed Billy Maton to teach Contemporary and Jazz Piano.

Drama and Public Speaking

At Salisbury Cathedral School, we believe that opportunities in drama should be engaging and inclusive. All year groups participated in drama through play rehearsals and drama club. School productions included the Nativity (Nursery to Year 2), Magpie Manor (Years 3–4), Lion King Junior (Years 5–6), and Bugsy Malone (Years 7–8), all combining music and acting. Smaller-scale performances were also presented to parents throughout the year by the drama club. Pupils achieved excellent results in LAMDA exams, with all but one attaining distinctions, and one pupil awarded a merit.

As part of the Year 7 and 8 leadership programme, pupils organised a series of information evenings with external speakers and led question-and-answer sessions. Pupils also took the lead in presenting assemblies, including during Dyslexia Week and Green Week, and were offered numerous opportunities to develop debating and presentation skills within lessons.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2025

Sport and Physical Education

The 2024/25 sporting year at Salisbury Cathedral School built on the progress of previous years, with strong performances across disciplines, continued success in IAPS competitions, and new opportunities for pupils both on and off the field.

Sports Scholarship Programme

Following its successful introduction in 2023/24, the Sports Scholarship Programme continued to flourish in 2024/25, supporting 16 scholars in their first full year. The programme provides specialist training, mentorship, and tailored support to foster both physical and mental development. Scholars benefit from individualised coaching, strength and conditioning plans, nutritional guidance, fitness assessments, and sports psychology input, all designed to maximise their potential on and off the field.

A key component of the programme is the Performance Sport Programme (PSP), which provides structured pathways for skill refinement and game understanding. Scholars have participated in dedicated coaching sessions, exclusive Gifted and Talented events, and competitive opportunities to challenge and develop their abilities. These experiences not only enhance performance but also strengthen applications for senior schools, giving pupils a strong portfolio of achievements.

Performance on the Field

Across all sports, pupils have demonstrated dedication, teamwork, and resilience. Teams competed at a high level in IAPS tournaments, showing progression and consistency from previous years. Notable achievements were recorded across football, rugby, netball, hockey, athletics, and cricket.

This year also saw the successful introduction of a cricket tour, providing pupils with competitive experience away from school, fostering team cohesion, and developing resilience in new environments.

Partnerships and External Facilities

The school continues to explore opportunities for external facilities to broaden access to specialist coaching and highquality training spaces. Existing partnerships, including Salisbury Hockey Club, provide excellent support for pupils’ sporting development.

Public Benefit and Community Links

Salisbury Cathedral Choir

The school is part of the Cathedral’s foundation and is closely linked to its life and work. The Cathedral and associated endowments fund choral scholarships for up to 40 boy and girl choristers and probationers. In cases of financial need, the school works closely with parents to identify and secure additional means-tested funding.

In partnership with the Cathedral, the aspiration is that all pupils who are successful at voice trials are able to take up a place in the choir, regardless of parental means. To support this, the school engages an external provider to ensure that each family’s circumstances are assessed thoroughly and objectively.

The Salisbury Cathedral Choir continues to deliver an exceptional standard of music through eight sung services per week during term time. Choristers alternate weekends and Monday and Friday services, with boys singing Evensong on Tuesdays and girls on Thursdays. This rota ensures a fair distribution of workload, and at major festivals and special occasions, all choristers sing together, producing a particularly powerful and unified sound. While recruitment, especially of boys, remains a challenge, numbers continue to hold up well.

Beyond regular worship, the choir performed concerts across the diocese to raise funds for local churches, including Martin, Durweston, Winterbourne Whitechurch, Melksham, and Wimborne St Giles. The choir also sang Evensong at an alumni gathering at St Matthew’s, Westminster, and welcomed visiting choirs from Portsmouth Cathedral, Grace Cathedral, St John’s Devizes, and Wimborne Minster. Collaborations with the Salisbury Cathedral Junior and Youth Choirs further enhanced the musical experience. Senior choristers also performed Christmas carols at Salisbury District Hospital, a valued contribution to the local community.

Special highlights of the year included singing at the memorial service for The Very Reverend Robert Willis, former Dean of Canterbury and former Chaplain at Salisbury Cathedral School. The choir participated in two live BBC Radio 3 broadcasts of Choral Evensong, including the Southern Cathedrals Festival, hosted by Salisbury this year. The festival

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2025

featured a choral workshop led by Sir John Rutter for his eightieth birthday and concluded with performances of Mozart’s Vesperae Solennes De Confessore and Haydn’s Nelson Mass.

The choir’s repertoire also included three well-attended services of Darkness to Light, Christmas services, Bach’s Cantata 140, Handel’s Messiah, and Bach’s St John Passion, performed shortly after a tour of The Netherlands with concerts in Amsterdam, Leiden, Utrecht, Zutphen, Wijk bij Duurstede, and the Bavokerk in Haarlem.

Use of Facilities

Salisbury Cathedral School continues to provide its facilities for community use. Two local adult choirs and the Cathedral’s Junior and Youth Choirs regularly rehearse on site. The school’s premises are also used for various events throughout the year, including sports activities.

Policy Review

Governors keep under review the school’s Fee Remission policy to inform development of policy and help ensure the objective of wider access is achieved . Our current Fee Remission policy is 8% of Gross Fee Income, to enable more pupils to benefit from means tested support .

Assistance for staff

To attract and retain high-calibre staff, the school offers a Fee Remission scheme, allowing eligible staff to educate their children at SCS. All staff also have access to the Employer Assist Programme, providing confidential support and advice.

Bursaries

This year the value of means tested bursaries totalled £223,374 (2024: £286,559) and represented 6.0% of our gross fees (2024: 7.5%).

Community Involvement

The school maintains strong links with local schools and community groups. Musical outreach includes the Voice Inspire programme, led by the Director of Music, which engages several local primary schools and culminates in termly concerts in the Cathedral attended by parents. Sports outreach includes hosting St Osmund’s School for sports days, with support and refreshments provided by SCS sports leaders.

Links with Exeter House, a local special school, enabled choristers to rehearse and perform alongside its pupils. The evening song, performed by SCS choristers and Exeter House pupils, was an emotional highlight of the year. During term and holiday periods, the school’s facilities are made available to visiting choirs singing daily Cathedral services, as well as to local sports clubs, choirs, and other community groups.

Charity support

The school supports various charity endeavours throughout the academic year, including the Salisbury based Children’s Chance, providing extra-curricular opportunities for disadvantaged children. In addition, the school supported Salisbury’s food bank charity, the Trussell Trust. Our annual Children in Need and Remembrance Day events raised funds for important charities, and enabled our pupils to learn the value of philanthropy and the part they can plan in helping the lives of others. Collections from chapel services have helped to provide funding for international relief efforts.

Fund Raising & Alumni Relations

The Development Office continued to deliver a range of events throughout the year to raise funds in support of the school, with significant progress made on the Garden Project, aimed at transforming the outdoor learning spaces surrounding the Pre-Prep buildings.

In Spring 2025, the school hosted a successful Garden-a-thon, which raised over £6,000 and brought together pupils, parents, staff, and volunteers to improve the school grounds. Funds contributed directly to the Garden Project. Phase one, completed during the summer holidays of 2025, included:

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2025

Three alumni events were held to strengthen connections between former pupils and staff: Drinks after Darkness to Light, Evensong at St Matthew’s, London, and the 40th anniversary of the Pre-Prep in June 2025. Together, these events welcomed over 300 alumni back to the Salisbury Cathedral School community.

The Pipe Dreams initiative continues to thrive. Our first Organ Scholar progressed to Godolphin for Year 9. He continues his organ studies at SCS on our renovated organ. The second scholar entered her second year, and a third began the programme in September 2025.

The school also welcomed support from the local business community, with Salisbury Glass Centre, Wilson’s Solicitors, and Soper & Co. Mortgage Brokers joining as sponsors. The parent association, The Friends, and the chorister parent group, AMICI, organised a variety of events throughout the year, raising valuable funds for the school and the Choral Foundation.

Conclusion

The 2024–25 academic year has been one of consolidation, progress, and achievement across all areas of school life. Salisbury Cathedral School has maintained high standards in teaching and learning, co-curricular activities, and pupil wellbeing, while strengthening community links and charitable engagement.

Looking forward, the school will continue to develop its facilities, programmes, and partnerships to ensure that pupils benefit from a rich, broad, and fulfilling education. The commitment to academic excellence, co-curricular achievement, pastoral care, and public benefit remains at the heart of everything the school does, ensuring that all pupils are wellprepared for the next stage of their education and life beyond Salisbury Cathedral School.

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

The results for the year are set out on page 14 of the financial statements.

The school’s total income for the period 1 September 2024 to 31 August 2025 after adjusting for school bursaries and other remissions was £3,667,286 (2024: £3,690,056). School expenditure was £3,740,953 (2024: £3,850,597). This resulted in a loss before gains on investments of £73,667 (2024: £158,901).

At the end of the year, the net assets of the school were £423,165 (2024: £505,043) out of which £66,470 (2024: £145,638) were represented by unrestricted reserves. Restricted funds amounted to £94,655 (2024: £89,154) and the endowment funds amounted to £262,040 (2024: £270,251). Restricted and endowed funds are not available for the general purpose of the charity but must instead be used for their intended purpose.

As a Charity the parents of our pupils have the assurance that all the income of the school must be applied for educational purposes. As an educational Charity we enjoy tax exemption on our educational activities and on our investment income and gains provided these are applied for our charitable aims.

As a Charity we were also entitled to an 80% reduction on our business rates on the property we occupy for our charitable purposes. This relief ended on 1 April 2025.

From 1 January 2025 onwards, school fees became subject to VAT following changes to Government policy. The school registered for VAT with an effective date of 1[st] December 2024 and subsequently has been able to reclaim VAT input tax on qualifying expenditure.

We also pay tax as an employer through the national insurance contributions we make.

In addition to the very substantial benefits our School brings to our pupils, the local community and society through the education we offer, the contribution of our choirs, our musical and sports outreach and bursary programme create a social asset without cost to the Exchequer.

Company number: 04461932 Charity number: 1093554

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Salisbury Cathedral School Limited (A company limited by guarantee) GOVERNORS’ REPORT (continued) for the year-ended 31 August 2025

Developments and Maintenance

The school continues to invest in the maintenance of its fabric and resources, with this year's focus being on general maintenance around the school, improvements to general teaching rooms in the Bishop’s Palace and the other buildings on the kitchen garden site, improvement and refurbishment work carried out at the swimming pool changing facilities and work on the outdoor environment around the pre-prep area.

Reserves and Financial Health

The Governors regularly review the finances, budgets and spend against budget as part of the effective stewardship of the school.

The deficit within unrestricted funds for the year has decreased the school’s unrestricted funds at the year-end to £66,470 (2024: £145,638).

The school holds reserves for a number of purposes, including funding current and future spending on fixed assets, financing the school’s working capital and providing a contingency against the risks and uncertainties inherent in running an independent school. The Governors’ policy is to hold sufficient reserves to cover three months of recurring expenditure and to spend any surpluses generated by the school on improving its facilities. Three months of expenditure is £934,697 and therefore the Governors are taking steps to build reserves to this level including increasing the use of school facilities for external lettings, building pupil numbers and creating efficiency savings where possible.

Investment policy

Salisbury Cathedral School Limited seeks to achieve steadily growing income and the preservation of its capital assets in real terms. It works within the parameters of the Church of England’s ethical investment policy and has its own investment policy reviewed by Governors.

FUTURE PLANS

The Governors are committed to improving facilities and are working with the Governors’ Development Committee in looking at ways in which this can be realistically achieved. The Governors support the school’s senior leaders in recognising the importance of having a paid member of school staff helping to run the development office.

The agenda for future capital projects centres on

The Governors are working with the Cathedral Chapter to further secure the long-term future of the School.

RISK MANAGEMENT

The Governors have given consideration to the major risks to which the school is exposed. The governing body has ultimate responsibility for managing any risk faced by the school. Detailed consideration of risk is delegated to the F&GP and from there to each of the other sub-committees. The risk management process and the resulting report identifies risks, assesses their impact and likelihood and, where necessary recommends controls to mitigate and monitor those risks that are identified as high.

Principal risks and uncertainties

The board continues to identify and review the major risks to which the school is exposed. In particular, and in common with all independent schools, the school now faces financial risks caused by external forces, including VAT being levied on school fees and the removal of Business Rates Relief. These could become significant if pupil numbers diminish to any significant extent. We mitigate this through the provision of a desirable education, the extension of our nursery to an all year-round provision and welcoming two-year-olds (effective January 2025) and the marketing of these provisions.

Company number: 04461932 Charity number: 1093554

10

Salisbury Cathcdral School Limited (A coinpany limited by guarantee) (TOVb,IINORS' REI)OR'I' (copiliI7ued) foi. Ihc ycdr-tindLd 31 August 2025 Doiiig so ha5 ensured Il)al the ￿lI001'S pupil roll has remained sliY)ng going into the coming fiiMncial year. Th¢ scliool a150 fBtc% ll grgwing iiurnbcrof COTnpliance and Icgislalive rcquircincn15 Ivliich thc scliool's maiiagemciit nccd lo b¢ awair of and adlieir to. Iii Ilie opinion of Ilic Board. Ihc scliool has eslablislied resoiirces and review sy%iem$ whicli, und¢T iiormal coi)dilions, sliould allow Ilie5e risk5 to b¢ tnanaBtd lo ali acceplable level in ils day-to-day op¢ralioJis. STA'fEMRNT OF COVERNORS, RESPONSIBILITIES The Govemots (who are also directors of the company for ihe PilTP(>ses of ¢ornpgny law pnd Iru51¢¢s of th¢ ch81.ity for the purposcs of cliarity lawl arc responsible foi. prcpai'iiig Ilie Repon of the Goveinors {including the SlraieEiC Report) and the financial siaiemeijis in accordance with dpplicdble law and Unil¢d Kinudoin Accounting Staiidai'ds Iuiiited Kingdom Gcnerally Acceplcd Accounting Pracliccl. Company law requiiES the Govemors to pirpaTe financial stal¢meiils for each financial year, which give a true and fair view ofihc Slk)Ic ofalyaii's of Ihccliarilablc compaiiy k)nd of the iiicorniiig IEsourcesaiid ai)plicalioii of resources, iiicluding thc income and expenditure. of tlie Gharitabl¢ coinpgny for that pcriod. In pirparing thosc financial slalcmcnls, the Govemors are required to: select suitable accouniing policies and then apply them consisiettily. bseive Ihe Tnethuds and principles in Ihe Charilies SORP 2020 IFRS 1021. make jiidgeniejils alld accouiiliiig ¢sliinales Ilial are reasonablc and priideiii., 51ale whcth¢r applicuble UK Ac¢oiiiiling sthndal￿s hav¢ beeii followed, subject to any material departures disclosed aiid explained in the flnancial slatemenls., prepai'¢ th¢ financial slalemenls on the goiiig conceill basi5 unle55 jl j5 iiiappropriate to pr¢sutne that the charilable cojnpally will coiiliniie in opcralion Tlie Goveinors are respoiisiblc for keeping adeqiialc accouiiliiig i'¢cords wliich disclose with rvd8onable accui?cy al any time the fiiiartcial posiiion ol the charilablc company aiid tD enable thetn to etisiire tlial the fiiiaiicial staleinen15 comply with Ihc Companies Act 2006. Thcy arc also rcspoiisiblc for safcguarding Ihc assets of the charitable company artd hence for lakiiig reasonable steps for the prevenlion ajjd deleclion of fraud and other irregiilarilies. STATEI MENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the Govemors are aware, Ihere is t]0 relevant aiidii information las defined by Section 418 of Ihe Companies Act 20061 of Ivhicli Ihe cofflpany's audil01s dit unaivaiy, and each GgveiTror h35 taken all Ilie slep5 that he or she ought to havc takcii as a GoVc1￿Or in ordcr to rnakc liimsclf or licrsclf awarc of any r¢lcvant aiidit information and 10 establish Ihai th¢ ¢otDpany's auditoi's ar¢ awar¢ of that infoiThaiion. AUDITORS The audiiors, Fawcells LLP, will be proposed for re-appointmeni ai Ilie forthcoming Anrtual Gerteral Meeting. ON BEHALF OF THE BOARD OF GOVERNORS". The Govetnors lirt their capacily as diiEctors of the Colnpdny and Iruslees of ihe charity) approve tli¢ Report of Ilie Govetnor$ &rtd the Sit8t¢gi¢ Report for th¢ ye8r end¢d 31 August 2025. JÈme5 Chair o Governors Dated.. L4 Tro Cotnpaiiy niimbei": 04461932 Cljdrity number.. 1093554

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SALISBURY CATHEDRAL SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE)

Opinion

We have audited the financial statements of Salisbury Cathedral School Limited (the ‘charitable company’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows 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 auditor 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 UK, 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 trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not 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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Report of the Governors, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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:

Company number: 04461932 Charity number: 1093554

12

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SALISBURY CATHEDRAL SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE)

Matters on which we are required to report by exception

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Report of the Governors.

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 Statement of Governors’ Responsibilities set out on page nine, the Governors (who are also 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.

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 auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Identifying and assessing potential risks related to irregularities

Irregularities, including fraud, are non-compliance with laws and regulations. We design procedures, in line with our responsibilities, as set out in the auditor's responsibilities for the audit of the financial statements section, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, are detailed below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations we consider the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: revenue and resource recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK

Company number: 04461932 Charity number: 1093554

13

INDEPENDENT AUDITOR'S REPORT TO THE IWJEMBERS OF SALISBURY CATHEDRAL SCHOOL LlhlllTED (A COMPANY LIMITED BY GUARANTEE) Companies Act and lax Icgisl4?tion. Aiidit i'esi)(knse to risks identificd As a rcsuli ofpci'formiiig Ihc abovc, Ivc idciitificd rcveniieand profil rccognition a key aiidil tnalter related to Ihc pot¢nlial risk of fraud. Oiir pro¢¢d111¢5 to respoii(I lo i-isk5 idenlified inLliided Ihe fullowirtE.' I'eviewiiig Ihc fiiiaiicial slalcjnciil disclosuirs and lcsliiig lo siipporfing docurn¢iilalion lo 3ssess conipliatice with piovi.sion£ of Televanl1l£ Ivs aiid regiilalion% descTibed liaving a diirci elfccl on Ihc financial sialcmenls., cnquirillg of managctncnt conccmiiig 8Ctiial and polcnli81 liligalion and tlgims., niis%lalemcnl diie lo fraiid. reading miniites of meelinEs of Ihose charEed with governance. iii addiessiiig the risk of fiaiid Ihroiigli rnanabTerneiit uverride uf LoniiDls, lesiiiiLT Ihe dppropriaielless ofjouimal eniries and oihcr adjiisljneiiis,. assessing whcilier Ihc jiidgcmciils made in rnaking accoiinting ¢51imat¢5 are indicative of a pol¢n1181 bias,. and evaluaiittg Ihe biisittess raiionale of arty signifieani transactions tlial are uniisiial or outside the noiThal coiirse of business. Wc also cornmiiiiicatcd rclcvaiil idcntificd law5 aiid r¢gulgtion5 and polcntial fruud i-i5k5 to all engagernent team membeiE Owing io thc iiilicrcnl limitations of an aiidil. thcrc 15 an iit]avoidablc Tisk tliat we may llol liav¢ dcteclcd sorne rnattrigl missiaiemenis irt ilie fjnancidl sidteinenis, even IhoiiEh we have propej'ly plaiined aiid perforjned our alidil iii accordaiice from the events 8nd ITans&ciions reflected in tlie financial slatemenis, Ihe Icss likcly ihc inhcrcntly limilcd proccdiircs requirtd by aiidili1￿ staiidaid5 would ideiitify it. In addilioii, gs with any audil, Iheir Tetnained a hiLTher risk of nun- ov¢n"id¢ of internjl contro15. We are not iesptrnsible for preventing nort-compliance and eanrtol be expected lo detect non-compliance with all laws and regillatiol￿. A fiirtlicr description of our Lrspoiisibilitie5 foT Ihc audit of the finaiicial 51aleTneiit5 is located on Ilie Financifyl Reporting Council's ivebsile ai ivwiv.frc.oi'E.uklaudilorsresponsibilities. This description forins pail of our audiioi s repoit. Use of oirr report Thi5 repoit 15 made 501ely to the charitable company's members. gs a body. in acu)rdance ivith Chapier 3 of Pari 16 of Ilie CoiiipatiiesAcl 2006. Oiii. audit ivoi'k lia5 been iiiideilakeii 50 that ive iiiight slaleto the Cliai'itable wmpany'5 membei's Iliose rtknilters we are required to slate io Ihcm in a Rcporl of Ilic Auditors and for no olhcr piirposc. To Ihc fiillcst cxtcnt pcrinillcd by la%Y, Ivc do iiol 8CCePt OL-a&%iitnc respDnsibilily to 8nyon¢ oiherihlln Ilie ¢hari18bl¢ company and ihecharitable cojnpany's membti3 as a body. foi. oiir aiidii woj'k, for this J'epoit, ol. for Ilie opiniotis we have forined. Idm FCA DChA (Senior S12111tory Auditor) roi. and on bclialf ofFawcells LLP Chartered Accourtianig and Sialiitory AiidiloEE Windovei. Hoiise, St Aiin Sir¢el Salisbury SPI 2DR Dated.. Curnpdliy iiiimbei.: (H461932 Cliarily iiiiinbci.: l OlJ3554 14

Salisbury Cathedral School Limited (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (and statement of income and expenditure) for the year-ended 31 August 2025

Notes
Unrestricted
Funds
£

INCOME AND ENDOWMENTS FROM:
Charitable activities:
Fees receivable
2
3,302,745
Other educational income
3a
218,058
Other trading activities:
Investment income
3b
28
Rents, lettings and other income
68,837
Donations
22,286
Total income
3,611,954
EXPENDITURE ON:
Charitable activities:
Teaching costs
1,945,642
Educational support costs
1,370,772
Premises
391,475
Total expenditure
4
3,707,889
Gains on investments
Unrealised (losses)gains on
investments
9
-
Net income/(expenditure)
(95,935)
Transfers between funds
16,767
Net movement in funds
(79,168)
Funds brought forward at
1 September 2024
145,638
Fund carried forward
at 31 August 2025
66,470		 Restricted
Funds
£


-

-

7,379

-

47,953

55,332

-

31,543

1,521

33,064

-

22,268

(16,767)

5,501

89,154

94,655		 Endowment
Funds
£

-

-



-

-


-



-



-

-

-



-

(8,211)

(8,211)

-

(8,211)

270,251

262,040		 Total
2025
£
3,302,745
218,058

7,407

68,837

70,239
3,667,286
1,945,642
1,402,315

392,996
3,740,953

(8,211)

(81,878)

-

(81,878)

505,043

423,165		 Total
2024
£
3,329,755
274,826
7,263
40,389
37,823
3,690,056
1,881,992
1,496,409
472,196
3,850,597
21,029
(139,512)
-
(139,512)
644,555
505,043

All income and expenditure arises from the charity’s continuing activities. The notes on pages 17 to 31 form part of these financial statements.

Company number: 04461932 Charity number: 1093554

15

Salisbury Cathedral School Limited (A company limited by gllai?ntee) BALANCE SHF,ET asat31Au list 2025 Not¢s 2025 2024 FIXED ASSETS Intangibl¢ as5els TatlLiible assels Inv¢51tn¢iils 4,424 246,495 270,351 236.548 262,140 498,688 521,270 CURRCNT ASSETS Stock Debtors Cash al bank and ill I￿nd 34,703 226,612 510,879 35.281 206.834 983.872 12 772,194 1,225.987 CREDITORS.. Amoiinls falling duc within onc year 13 1720,371) 11,075,864) NET CUIIRENT A.SSETS 51,823 150,123 T()1'AL ASSL'fs LLSS CURRENT LIABILITIES 550,511 671,393 CREDITORS.. Arnoiin15 falling due after more than one year NKT Assfi TS 14 1127,3461 1166,350) 423,165 505,043 R¢presenliiig'. ENDOWED FUNDS 16 262,040 270.251 RESTRICTED FUNDS 17 94.655 89.154 UNRESTRICTED FUNDS Geiieixl Fund 66,470 145,638 TOTAL fiUNDS 18 423.165 505.043 These finan¢i&l staiemenis have been prepared in aceordattce with the special provtsions forsmall companies linder pait 15 of Ilie Coinpanies Act 2006. Tli¢ financial slalemenls were approved aiid autlioi'ised for i5sii¢ by th¢ Boai of Govemors on'L+*.x4and 5ign¢d on its belialf by.. rJ menis, Gov or Coinpgny iiiiinb¢i': 04461932 Chariiy niimbcr.. 1093554 16

Salisbury Cathedral School Limited (A company limited by guarantee) STATEMENT OF CASH FLOWS for the year-ended 31 August 2025

Note
2025
£
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by operating activities
21
(388,951)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of tangible fixed assets
(50,676)
Interest received
28
Dividends received
7,379
Proceeds on sale of tangible assets
-
NET CASH (USED IN)/PROVIDED BY INVESTING
ACTIVITIES
(43,269)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan repayments
(40,774)
NET CASH (USED IN)/PROVIDED BY FINANCING
ACTIVITIES
(40,774)
(DECREASE) / INCREASE IN CASH IN THE YEAR
(472,993)
CASH AND CASH EQUIVALENTS AT 1 SEPTEMBER
983,872
CASH AND CASH EQUIVALENTS AT 31 AUGUST
510,879		 2024
£
254,217
(17,510)
-
7,263
300
(9,947)
(38,186)
(38,186)
206,084
777,788
983,872

Company number: 04461932 Charity number: 1093554

17

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

GENERAL INFORMATION

Salisbury Cathedral School Limited is a private charitable company limited by guarantee, incorporated and registered in England and Wales.

The address of the charitable company’s registered office and principal place of business is 1 The Close, Salisbury, Wiltshire, SP1 2EQ.

The company’s principal activities are disclosed in the Governor’s Report.

BASIS OF PREPARATION

These financial statements have been prepared in accordance with FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (‘FRS 102’) and under the historical cost convention, with the exception of investments which are included at market value. In accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP) (as amended for accounting periods commencing from 1 January 2019) and the requirements of the Companies Act 2006.

Salisbury Cathedral School Limited meets the definition under FRS102 of a public benefit entity.

These financial statements are prepared in sterling which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated.

GOING CONCERN

In considering whether the going concern basis is appropriate, the Governors have considered income and expenditure and cash-flow projections prepared for the period to 31 August 2026 with longer term projections to 31 August 2031 also being considered. These projections have been based on known and expected pupil numbers and costs and indicate that the school will have sufficient cash and reserves to be able to meet its liabilities as they fall due.

In light of the above the Governors have concluded that there are no material uncertainties over the school’s ability to continue as a going concern for a period of at least 12 months and as such it is appropriate to use the going concern basis in the preparation of these financial statements.

INTANGIBLE FIXED ASSETS

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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

Computer software 20% straight line basis

TANGIBLE FIXED ASSETS

Motor vehicles, major items of office equipment and major property improvements have been capitalised and are being depreciated over their estimated useful economic lives. Routine repairs to properties are written off in the year of acquisition, because it is not considered that they have any recoverable value. Fixed assets are initially recorded at cost. Items costing less than £500 are written off as an expense as acquired.

The following rates of depreciation are used: Motor vehicles 20% straight line basis Furniture and office equipment 10% - 33% straight line basis Property improvements 10% straight line basis

Company number: 04461932 Charity number: 1093554

18

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

STOCK

Stocks are stated at the lower of direct cost or net realisable value. Stocks comprise of catering raw material and consumables and uniform stock. Provisions are made for obsolete stock.

INVESTMENTS AND INVESTMENT INCOME

Investments are included at market value at the balance sheet date. Any gain or loss on revaluation is taken to the statement of financial activities. Investment income is accounted for in the period in which the charity is entitled to receipt.

CONSOLIDATED FINANCIAL STATEMENTS

The charitable company has taken advantage of the exemption in section 402 of the Companies Act from the requirement to prepare consolidated financial statements. Consequently, these financial statements present the financial position and financial performance of the charitable company as a single entity.

OPERATING LEASES

The rent payable under the leases for the school buildings, Boarding House and grounds are related to the level of the fees, and is charged as expenditure in the period to which it relates. Rent payable under other operating leases is charged as expenditure on a straight line basis over the lease terms.

FEES AND SIMILAR INCOME

Fees receivable and charges for services are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the school from its restricted funds.

DONATIONS AND FUND ACCOUNTING

Donations received for the general purposes of the charity are included as unrestricted funds. Donations for purposes restricted by the wishes of the donor are taken to “restricted funds” where these wishes are legally binding on the Governors. Donations required to be retained as capital in accordance with the donor’s wishes are accounted for as “endowments” – permanent or expendable according to the nature of the restriction. Designated funds are those allocated to specific projects out of unrestricted funds, in accordance with Governors’ decisions.

EXPENDITURE

Expenditure is allocated to the charity’s principal activity where the costs can be identified as being directly related to that activity. All costs that cannot be identified as relating directly to the charity’s principal activity are categorised as either support costs or governance costs and are allocated based upon a suitable ratio applicable to the nature of the cost involved. The irrecoverable element of VAT is included with the item of expense to which it relates.

Governance costs comprise the costs of running the charity including strategic planning for its future development and external audit, any legal advice for the Governors, and all the 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.

Company number: 04461932 Charity number: 1093554

19

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

PENSION COSTS

The school operates defined contribution group personal pension schemes for teachers and other employees.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in hand, deposits held at call with banks and, other short-term liquid investments with original maturities of three months or less.

ACCEPTANCE DEPOSITS

Acceptance deposits are paid to the school to secure a place for the child at the school. Deposits held form part of the general funds of the school until the child leaves the school at which point they are credited without interest to the final payment of the fees or other sums due to the school. Deposits are held as creditors on the balance sheet and are classified as owing within one year and over one year based on when they are expected to be credited against income.

FINANCIAL INSTRUMENTS

The charitable company 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 listed investments which are subsequently measured at fair value.

FINANCIAL ASSETS

Fees and other debtors which are receivable within one year are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in income and expenditure for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in income or expenditure.

FINANCIAL LIABILITIES

Creditors and provisions are recognised when the charitable company has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

TERMINATION BENEFITS

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

Company number: 04461932 Charity number: 1093554

20

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

CRITICAL AREAS OF JUDGEMENT

In preparing the financial statements, the trustees are required to make estimates and judgements. The matters detailed below are considered to be the most important in understanding the judgements that are involved in preparing the financial statements.

Bad debt provisions

The school has recognised bad debt provisions where there is uncertainty whether specific accounts receivable are collectable. The judgements, estimates, and associated assumptions necessary to calculate these provisions are based on historical experience and other reasonable factors.

FEES RECEIVABLE
Gross fees receivable
Less:
Means tested bursaries
Discounts
Add back discounts and scholarships paid out of restricted funds		 2025
£
3,696,444
(223,374)
(201,868)
3,271,202
31,543
3,302,745		 2024
£
3,799,487
(286,559)
(212,848)
3,300,080
29,675
3,329,755

All income from fees receivable was unrestricted in both 2025 and 2024. Fees receivable in 2025 are shown net of Value Added Tax.

(a) OTHER EDUCATIONAL INCOME
Reimbursements:
Chorister Holidays
Recoverable extras and related income
Registration fees
Uniform Shop income		 2025
£
45,000
45,000
137,831
7,600
27,627
173,058
218,058		 2024
£
63,000
63,000
180,525
3,500
27,801
211,826
274,826

All income from other educational activities was unrestricted in both 2025 and 2024.

Company number: 04461932 Charity number: 1093554

21

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

(b) INVESTMENT INCOME
Bank interest received
Dividend income		 2025
£
28
7,379
7,407		 2024
£
-
7,263
7,263

The income from investments was £7,407 (2024: £7,263) of which £28 (2024: £0) was unrestricted and £7,379 (2024: £7,263) was restricted.

4 ANALYSIS OF TOTAL EXPENDITURE

Charitable expenditure:
Teaching costs
Educational support costs:
Staff training & recruitment
Household expenses
Property and grounds
Other school running costs
Marketing costs
Loss/(profit) on disposal of
fixed assets
Premises
Governance costs		 Staff costs
£
1,918,681
-
-
112,802
630,828
-
-
-
-
2,662,311		 Depreciation
and
amortisation
£
-
-
-
-
6,600
-
-
58,446
-
65,046		 Other
costs
£
26,961
16,145
182,099
-
387,046
54,727
-
334,550
12,068
1,013,596		 Total
2025
£
1,945,642
16,145
182,099
112,802
1,024,474
54,727
-
392,996
12,068
3,740,953		 Total
2024
£
1,881,992
30,020
206,583
77,006
1,109,763
56,144
(300)
472,496
16,893
3,850,597

The expenditure on charitable activities was £3,740,953 (2024: £3,850,597) of which £3,707,889 (2024: £3,741,627) was unrestricted and £33,064 (2024: £108,970) was restricted.

Company number: 04461932 Charity number: 1093554

22

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

STAFF COSTS
Wages and salaries
Social security costs
Pension costs		 2025
£
2,222,584
221,512
218,215
2,662,311		 2024
£
2,141,604
194,411
213,078
2,549,093
The average numbers of employees, analysed by function, were:
Teaching
Household
Maintenance
Administration		 2025
Number
48
15
3
13
79		 2024
Number
50
17
3
8
78

The number of employees whose emoluments (excluding pension contributions) exceeded £60,000 were:

2025 2024
Number Number
£60,000-£70,000 2 1
£100,000-£110,000 1 1

Contributions to pensions were made in respect of these employees of £39,464 (2024: £9,423).

The Governors have not received remuneration for their services in either year. No Governors were reimbursed any travel or expenses in either year.

Remuneration of key management personnel

The remuneration of key management personnel is as follows:

Remuneration of key management personnel
The remuneration of key management personnel is as follows:
2025 2024
£ £
Aggregate compensation (including employer’s NI) 371,126
356,161

Company number: 04461932 Charity number: 1093554

23

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025


NOTES TO THE FINANCIAL STATEMENTS
for theyear ended 31 August 2025
6
EXPENDITURE
Charitable activities expenditure includes:
Operating lease charges – Building & land
Operating lease charges - Other
Depreciation and amortisation
(Profit) / Loss on disposal of fixed assets
Governance costs include:
Auditor’s remuneration:
Audit services
7
INTANGIBLE FIXED ASSETS
COST
At 1 September 2024
Additions – separately acquired
At 31 August 2025
AMORTISATION
At 1 September 2024
Charge for the year
At 31 August 2025
NET BOOK VALUE
At 31 August 2025
At 31 August 2024		 2025
£
105,000
15,861
65,046
-
12,000		 2024
£

105,000
16,177

65,303

(300)

16,893
Computer
software
£
31,538
-
31,538
27,114
4,424
31,538
-
4,424

Company number: 04461932 Charity number: 1093554

24

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

8 TANGIBLE FIXED ASSETS

Property
improvements
Motor
vehicles
£
£
COST
At 1 September 2024
658,637
63,630
Additions
30,123
-
Disposals
-
-
At 31 August 2025
688,760
63,630
DEPRECIATION
At 1 September 2024
500,257
41,630
Charge for the year
25,132
6,600
Elimination on disposal
-
-
At 31 August 2025
525,389
48,230
NET BOOK VALUE
At 31 August 2025
163,371
15,400
At 31 August 2024
158,380
22,000
9
(a) INVESTMENTS IN FUNDS
Market value at 1 September 2024
(Loss) on revaluation
Market value at 31 August 2025
Cost at 31 August 2025
Cost at 31 August 2024
The holdings in charitable common investment funds consist of:
CBF Church of England Investment Fund
Units
Value		 Furniture
and
equipment
£
221,647
20,552
-
242,199
155,532
28,890
-
184,422
57,777
66,115
2025
£

11,584

262,040		 Total
£
943,914
50,675
-
994,589
697,419
60,622
-
758,041
236,548
246,495
Common
Investment
Funds
£
270,251
(8,211)
262,040
104,141
104,141
2024
£
11,584
270,251

Company number: 04461932 Charity number: 1093554

25

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

(b) INVESTMENTS IN SUBSIDIARIES
2025 2024
£ £
Investments in subsidiaries 100 100

10 SUBSIDIARIES

These financial statements are separate company financial statements for Salisbury Cathedral School Limited.

Details of the company’s subsidiaries at 31 August 2025 are as follows:

Name of undertaking Registered Nature of Class of % Held Direct
office business shareholding
Salisbury Cathedral School a) Dormant Ordinary 100.00
Enterprises Ltd
a) 1 The Close, Salisbury, Wiltshire, SP1 2EQ
11 STOCK
2025
2024
£
£
Uniform 34,513
35,091
Food 190
190
34,703
35,281
12 DEBTORS
2025
2024
£
£
Fees 158,154
120,925
Prepayments and accrued income 51,597
85,909
Other debtors 16,861
-
226,612
206,834
13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
£
£
Fees received in advance 414,398
843,909
Trade creditors 112,005
56,418
Amounts owed to subsidiary 100
100
Other taxation and social security 52,869
43,103
Refundable deposits 5,375
6,750
Accruals and deferred income 21,259
20,921
Other creditors 72,886
63,914
Bank loan 41,479
40,749
720,371
1,075,864

Company number: 04461932 Charity number: 1093554

26

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

14 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

EDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Refundable deposits
Bank loan		 2025
£
43,000
84,346
127,346		 2024
£
40,500
125,850
166,350

The school has two bank loans which are due for repayment by 2027, interest is payable at 5.74% on the fixed rate bank loan and 2.93% plus the Bank of England base rate on the variable rate bank loan.

15 FINANCIAL INSTRUMENTS

CARRYING AMOUNT OF FINANCIAL ASSETS
Financial assets measured at fair value through profit and loss		 2025
£
2024
£
262,040
270,251

16 ENDOWMENTS

Scholarship funds
Windsor Prize Fund
Fitzgerald Scholarship Trust
Head Master’s Fund
Scholarship funds
Windsor Prize Fund
Fitzgerald Scholarship Trust
Head Master’s Fund		 Balance at
31 August
2024
£
210,526
19,177
17,008
23,540
270,251
Balance at
31 August
2023
£
194,144
17,685
15,685
21,708
249,222		 Movement in funds
Income
£
Losses
£
Transfers
to other
funds
£
-
(6,396)
-
-
(583)
-
-
(517)
-
-
(715)
-
-
(8,211)
-
Income
£
Gains
£
Transfers
to other
funds
£
-
16,382
-
-
1,492
-
-
1,323
-
-
1,832
-
-
21,029
-		 Balance at
31 August
2025
£

204,130

18,594

16,491

22,825

262,040
Balance at
31 August
2024
£

210,526

19,177

17,008

23,540

270,251

The above losses consist of revaluations in investment assets.

The Endowment Funds are represented by fixed asset investments. The income of all the funds must be used for restricted purposes as explained in note 17.

Company number: 04461932 Charity number: 1093554

27

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

17 RESTRICTED FUNDS

(a)
Usage of funds
Scholarship funds
Windsor Prize Fund
Fitzgerald Scholarship Trust
Head Master’s Fund
John Robinson Fund
Ouseley Trust
Tindall Trust
Dupuy Science Prize
Pipe Dreams
Sustainability Fund
Friends of SCS
Griffiths Organ Sponsorship
Garden Project
(a) Usage of funds
Scholarship funds
Windsor Prize Fund
Fitzgerald Scholarship Trust
Head Master’s Fund
John Robinson Fund
Ouseley Trust
Tindall Trust
Ukrainian bursary
Dupuy Science Prize
Pipe Dreams
Swimming pool
Sustainability Fund
Friends of SCS
Griffiths Organ Sponsorship
Other		 Movement in funds
Balance at 1
September
2024
£
Income
£
Expenditure
£
Transfers
to other
funds
£
29,329
7,379
-
-
3,372
-
-
-
8,068
-
-
-
3,552
-
-
-
1,872
88
-
-
15,999
3,000
(10,500)
-
2,711
10,500
(10,882)
-
546
-
-
-
10,538
59
(1,520)
-
50
-
-
(50)
1,187
-
-
-
10,057
11,121
(10,162)
-
1,873
38,943
-
(32,475)
89,154
71,090
(33,064)
(32,525)
Movement in funds
Balance at 1
September
2023
£
Income
£
Expenditure
£
Transfers
to other
funds
£
22,816
7,263
(750)
-
3,372
-
-
-
8,068
-
-
-
2,352
1,200
-
-
1,752
120
-
-
14,999
15,000
(14,000)
-
2,535
10,500
(10,324)
-
-
-
-
-
546
-
-
-
24,013
765
(14,240)
-
-
-
-
-
53,150
-
(53,100)
-
-
11,075
(9,888)
-
5,614
9,784
(5,341)
-
-
3,200
(1,327)
-
139,217
58,907
(108,970)
-		 Balance at
31 August
2025
£

36,708

3,372

8,068

3,552

1,960

8,499

2,329

546

9,077

-

1,187

11,016

8,341

94,655
Balance at 1
September
2023
£
22,816
3,372
8,068
2,352
1,752
14,999
2,535
-
546
24,013
-
53,150
-
5,614
-
139,217		 Balance at
31 August
2024
£

29,329

3,372

8,068

3,552

1,872

15,999

2,711

-

546

10,538

-

50

1,187

10,057

1,873

89,154

Company number: 04461932 Charity number: 1093554

28

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

(a) Usage of funds

Scholarship funds

The income from the endowments of these funds is to provide particular academic and music scholarships to pupils at the Cathedral School.

Head Master’s Fund

This fund may be spent at the Head Master’s discretion for the benefit of the Cathedral School or its pupils.

Windsor Prize Fund

This fund was set up to provide two annual prizes for musical ability, one to a chorister the other to a non-chorister. The prize has been awarded against fees due.

John Robinson Memorial Fund

This fund was donated by the Sarum Voices committee to assist a new probationer/chorister, who might otherwise be financially challenged, to have instrumental lessons for one year.

Ouseley Trust Fund

This fund was set up to provide funding to named choristers.

Tindall Trust

This fund was set up to support the music department’s outreach work.

Hardship Bursary

This fund was set up to assist individuals who were in financial difficulties, particularly due to the impact of COVID-19.

Ukrainian Bursary

This fund was set up to help the school cover the costs of giving places to two Ukrainian pupils.

Dupuy Science Prize

This fund was donated by a parent to create an annual prize that recognises achievement in Science.

Pipe Dreams

This fund was created in order to raise funds to refurbish the school organ as well as to create two organ scholarships.

Swimming pool

This fund was created to raise funds in order to refurbish the swimming pool plant equipment and changing rooms.

Sustainability Fund

This fund was created to raise funds for projects that reduced carbon emissions and help contribute to an efficient and sustainable school environment.

Company number: 04461932 Charity number: 1093554

29

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

Friends of SCS Fund

This fund was created for fundraising activities undertaken by the PTA. All funds are transferred to unrestricted funds during the year.

Griffiths Organ Sponsorship Fund

This fund was set up to provide funding for organ scholars.

Other restricted funds

This fund was donated by a parent of an ex-student to be used, at the discretion of the school, to help other families in need of financial assistance

18 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 August 2025 are represented by the following net assets:

Intangible fixed assets
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities		 Unrestricted
Funds
£
-
236,548
100
677,539
(720,371)
(127,346)
66,470		 Restricted
Funds


£
-
-
-

94,655
-
-
94,655		 Endowment
Funds
£
-
-
262,040
-
-
-
262,040		 Total
£
-
236,548
262,140
772,194
(720,371)
(127,346)
423,165

Fund balances at 31 August 2024 are represented by the following net assets:

Intangible fixed assets
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities		 Unrestricted
Funds
£
4,424
246,495
100
1,136,833
(1,075,864)
(166,350)
145,638		 Restricted
Funds


£
-
-
-
89,154
-
-
89,154		 Endowment
Funds
£
-
-
270,251
-
-
-
270,251		 Total
£
4,424
246,495
270,351
1,225,987
(1,075,864)
(166,350)
505,043

Company number: 04461932 Charity number: 1093554

30

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

19 PENSIONS

Royal London Pension Fund

The School operates a defined contribution scheme with Royal London for its teaching staff.

The pension charge for the year includes contributions payable to the scheme of £193,170 (2024: £193,170) and at the year-end £51,083 (2024: £48,378) was payable and included within creditors.

Support Staff Pension Fund

The School operates a defined contribution scheme. Total employer contributions for the year were £17,575 (2024: £18,239).

The total pension contributions outstanding at 31 August 2024 amounted to £4,159 (2024: £4,599).

20 COMMITMENTS

At the reporting date, the total of the school's future minimum lease payments under non-cancellable operating leases was:

Leases which expire:
Within one year
In one to five years		 2025
£
122,712
54,185
176,897		 2024
£
120,979
16,716
137,395

21 NOTES TO THE STATEMENT OF CASH FLOWS

Reconciliation of net income to net cash inflow from operating activities:

Net income
Depreciation of tangible assets
Amortisation of intangible assets
Loss/(profit) on disposal of fixed assets
Revaluation of investments
Interest received
Dividends received
(Increase)/decrease in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors		 2025
£
(81,878)
60,622
4,424
-
8,211
(28)
(7,379)
578
(19,778)
(353,723)
(388,951)		 2024
£
(139,512)
58,995
6,308
(300)
(21,029)
-
(7,263)
4,944
(97,693)
449,767
254,217

Analysis of changes in net funds:

At 1 September Cash flow At 31 August
2024 2025
£ £ £
Cash at bank and in hand 983,872 (472,993) 510,879

Company number: 04461932 Charity number: 1093554

31

Salisbury Cathedral School Limited (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

(a) Transactions with the Member

The School’s land and buildings are leased from The Cathedral Church of the Blessed Virgin Mary of Salisbury and from trusts managed and controlled by them. The rent payable during the year-ended 31 August 2025 was £105,000 (2024: £105,000).

The Cathedral Church of the Blessed Virgin Mary of Salisbury reimbursed expenses incurred by the School for administering the choirs and accommodating them during school holidays at a cost of £45,000 (2024: £63,000). The Cathedral also made contributions to school fees of £329,401 (2024: £329,401).

No amounts were outstanding at the year-end (2024: £nil).

(b) Transactions with Governors

There were no transactions with Governors during the year ended 31 August 2025.

(c) Transactions with Subsidiary Company

At the balance sheet date, the charity owed Salisbury Cathedral School Enterprises Limited £100 (2024: £100).

Company number: 04461932 Charity number: 1093554

32