Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Company registration number: 04680792
Charity registration number: 1096567
LONGACRE SCHOOL
(A company limited by guarantee)
FINAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31 July 2025
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
LONGACRE SCHOOL
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
| CONTENTS | PAGE |
|---|---|
| Legal and Administrative information | 3 |
| Report of the Governors | 4 – 9 |
| Report of the Independent Auditors | 10 – 12 |
| Statement of Financial Activities and Income and Expenditure Account | 13 |
| Balance Sheet | 14 |
| Cash Flow Statement | 15 |
| Notes to the Financial Statements | 16 - 24 |
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 3
LONGACRE SCHOOL
REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2025
GOVERNING DOCUMENT:
Legal and Administrative information and Articles of Association Company limited by guarantee number 04680792
REGISTERED CHARITY NUMBER: 1096567 REGISTERED OFFICE AND Hullbrook Lane PRINCIPAL ADDRESS: Shamley Green Guildford, Surrey GU5 0NQ HEAD: Mrs S. Baber BA (Hons) PGCE PGDip BURSAR: Mr Alexander Cartwright BA(Hons) MSc GOVERNORS AND CHARITY TRUSTEES: Mr A. Blurton Mr P. Brooks – retired 31 August 2024 Mrs F. Gibbons Mr R. Herring Mr T. Jenkins – retired 31 December 2024 Mrs S. Maxwell – retired 31 August 2024 Miss S. Michalopoulou – retired 31 December 2024 Mr S. Moore – retired 31 December 2024 Mr A. Noorani Mrs R. Pugh – retired 31 December 2024 Mrs H. Sheppard - retired 27 March 2026 COMPANY SECRETARY Mr Alexander Cartwright BA(Hons) MSc SOLICITORS: GBH Law 7/8 Innovation Place, Douglas Drive, Godalming, Surrey GU7 1JX AUDITORS: Menzies LLP Magna House 13-32 London Road Staines-upon-Thames TW18 4BP BANKERS: Lloyds Bank Plc Connaught House, Alexandra Terrace, Guildford, Surrey GU1 3DA
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 4
LONGACRE SCHOOL
REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2025
Introduction
The Governors are pleased to present their report and the audited financial statements for the year ended 31 July 2025.
Objective of the Charity and its status
The objective of Longacre School (School) was to provide education at a day school in Shamley Green, Surrey, for children from 2 to 11 years of age.
Longacre School is a company limited by guarantee. The governing document is the Memorandum and Articles of Association dated 19 November 2013. The School is governed by a Board of Governors. At the date of this report there are four Governors of the School. The Governors are members of the Company, Directors under the Companies Act 2006 and Trustees as defined by charity law.
Following a full strategic review undertaken during 2024, the Governors identified a number of challenges facing the School, including a decline in pupil numbers, increasing competitive pressures within the local market, the changing economic climate, the potential removal of business rate relief for independent schools and the introduction of VAT on school fees.
Having considered the options available and held discussions with a number of Senior schools to determine the optimal operational fit and alignment of ethos, the Governors concluded that a merger with Bridewell Royal Hospital (Bridewell), a larger charitable school foundation, represented the most sustainable option and was in the best interests of the School and its beneficiaries. In reaching this conclusion, the Governors took account of the strong alignment between the educational ethos, values and charitable objectives of the two organisations, together with the opportunities presented by being part of a larger foundation.
Following successful negotiations, the School and its net assets were transferred to Bridewell on 1 January 2025. From that date the operations of the School were conducted by Bridewell and the legal entity Longacre School ceased to operate as a school and became a dormant entity. As a result, the financial information in respect of the School for the year ended 31 July 2025 in these financial statements, including all its trading operations, is only in respect of the five months from 1 August 2024 to 31 December 2024.
Organisational management and governing body
The Governors determined the strategic policy of the School and reviewed its management and control. The day-to-day management of the School was delegated by the Governors to the Head, the Bursar and the School’s Senior Leadership Team.
Governors (who are trustees of the charity and directors of the company) were recruited and appointed by the Board of Governors, through the Governance Committee. Governors were appointed, and could be reelected for further terms of office, in accordance with the Memorandum and Articles of the School. Training and development activities were conducted to meet regulatory requirements, to inform and support the Governors in the fulfilling of their responsibilities and to further enhance the capabilities of the School.
Four separate Committees of the Governing Body met each term. These Committees were Governance; Education; Welfare; and Finance & Estates. The four Committees reported their findings and proposals to the Full Board. The Governors also met each term as a Full Board. In addition, the Full Board and its Committees held further meetings each term to consider other matters as they arose. These Committee and Full Board meetings set the leadership and strategic direction of the School.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 5
LONGACRE SCHOOL
REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2025
Aims of the School and principal activities
The School aimed to provide high standards of pre-school, pre-preparatory and preparatory school education, and prepared its pupils for entrance examinations to their chosen senior schools. It aimed to be inclusive and provided education to children from a diverse range of backgrounds. It aimed to have wellbeing at the centre of its ethos, a high level of pastoral care and wide ranging extra-curricular activities.
The learning philosophy at Longacre School was inextricably linked to the school motto of “A happy heart goes all the way”. The Board, the Head and the Senior Leadership Team have been clear that children can best learn, progress, find fulfilment, challenge, and excitement in their studies, when they are truly happy. Critical to this was the strong relationship between the pupils and their teachers, regular feedback to pupils, clear targets and aspirations without pressure, and regular involvement with parents being some of the hallmarks of a Longacre School education.
Review of achievements and activities
Longacre School delivered academic progress significantly above standardised educational scores. In addition, a Longacre School education provided the less tangible elements of emotional intelligence and life skills. These enabled our pupils to speak with confidence and listen with care, to innovate, problem-solve and collaborate with others to reach a higher understanding, to share and to be kind.
Children with all ranges of abilities were supported; the School worked in partnership with parents to ensure the development of every pupil. Longacre School provided a wide range of academic, non-academic and enrichment activities. It aimed to inspire and enable pupils with the ambition to achieve their highest academic and other capabilities, whilst nurturing and supporting each pupil on a journey of self-development.
At the conclusion of the 2023-24 academic year the Year 6s received 55 offers from 16 different Senior Schools with 19 scholarships being awarded for academia, sport, drama, performing arts, music, design and technology, computing and art.
The School promoted good citizenship and to enable pupils to develop a caring, tolerant and supportive way in their lives. Pupils learnt to appreciate and respect differences in society, including those from disability, culture, race and economic wellbeing. They also learned to understand their place within the local and global communities, as well as understanding British Values. Community links continue to be of great significance. Community activities range from Years 1 and 2 weekly visits to spend time with the residents of the Elmbridge Village retirement village to supporting the Shamley Green village events, such as the summer fete.
The School continued its focus on mental health and wellbeing in 2024 and ensured that this was at the forefront of the School’s activities, promoting this for the good of our pupils, staff and parents. Our Assistant Head (Pastoral) worked closely with the School Counsellor and Listener to provide on-going support for the whole Longacre School community. The hugely successful Bear Hut was available for children during the school day and was operated by our staff on a voluntary basis to support our children. The School Counsellor and Listener provided meditation and mindfulness for children, individually as well within whole class sessions, focussing on specific year group topics.
Staff received wellbeing support through the School, including organised therapy sessions with our Counsellor, participating in the walking club, and being involved in social evenings. Longacre School was committed to further supporting our staff’s needs.
The School assisted its pupils in their understanding and embracing of independence, resilience and resourcefulness, alongside a continuing increase in academic capability. Longacre School consistently achieved well above average in nationally comparable formative assessments.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 6
LONGACRE SCHOOL
REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2025
The School supported diverse and wide-ranging co-curricular and enrichment activities including music, drama, art, dance and sport. These were further enhanced by educational visits to external establishments in these fields, which advance pupils’ thinking and abilities. Pupils also undertook a variety of business ventures to increase their skills for their lives ahead. Longacre School had advanced its teaching, underlining a commitment to critical thinking, philosophy and skill development for its pupils. Forest school and outdoor learning, as well as Teamwork and Leadership, were on the curriculum for all Longacre School pupils; these added to the rich and varied range of learning opportunities that the School provided.
Pupils at Longacre School continued to participate in a wide range of team sports at School including football, netball, cricket, hockey and rugby. Team sports were mixed gender, with boys and girls able to choose their favoured sport for each term. They also participated in matches against local schools and in area tournaments. Longacre School had an overarching objective of endeavouring to ensure that all pupils are included in teams to represent the School, enabling their sporting spirit to always be paramount. Longacre School held an annual football tournament for state and independent schools in Year 2. Longacre School teams continued to achieve great success during the year, with this wider area of sports involvement enhancing their team and individual capabilities for their progression in life.
Children benefited from a team of Emotional Literacy Support Assistant (ELSA) staff as well as a Drawing & Talking practitioner. The learning support department was responsible for providing additional structured support for pupils with a variety of needs including dyslexia, visual and hearing impairment and pupils with Education, Health and Care Plans (EHCPs). For those pupils that had individual educational programmes, the School worked in partnership with parents to provide these pupils with additional support. The Head of Learning Support had continued to expand this important element of the School’s provision.
The School had systems and processes in place to ensure the full development of each pupil, in a safe and secure environment. The Governors’ compliance and governance roles assessed whether the School operated these policies and procedures effectively in managing these areas.
During the five months ended 31 December 2024 before the School was transferred to Bridewell, the School’s Parent Teacher Association continued to be involved in the School’s activities. The Governors remained very appreciative to the PTA for their proactive involvement and assistance.
Public Benefit
The School continued to exceed its obligations in Section 17(5) of the Charities Act 2011 regarding Public Benefit. When setting the School’s strategy, its objectives and planning, the Governors ensured full adherence to the Charity Commission’s guidance on public benefit and its supplementary guidance on advancing education and fee charging.
The School continued to enable local sports clubs and teams to use its on-site facilities and invites local schools to special performances held at Longacre School. Links with Elmbridge Retirement Village continued and were important benefit for residents at Elmbridge Village and for Longacre School pupils.
For many years the School worked closely with the local community on local traffic issues through a wide range of measures, including its own specifically formed Traffic Committee. This Committee comprised representatives from the local Parish Council, Waverley Council, local residents from varying roads around the School, and the School itself. The primary objective of the Committee was to minimise traffic impacts on roads adjacent to the School. The School formulated a variety of policies which improved traffic aspects which it promoted for the benefit of the community. These included daily morning and afternoon minibus collections, car sharing, a weekly walking bus, and a regular cycling bus. The importance of reducing car journeys within the vicinity of the School was regularly advised to parents and other stakeholders in the School.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 7
LONGACRE SCHOOL
REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2025
The Governors promoted continuing public educational benefit through the provision of bursaries for pupils who could otherwise not attend the School. During the year ended 31 July 2025, Longacre School provided means tested bursaries and hardship support for 17 pupils (2024: 27) at a cost of £56,205 (2024: £272,423), funded by the School. The School informed prospective beneficiaries of the opportunities for financial support and bursary provision in documents that it issued and through advertisements and social media channels.
Principal risks and uncertainties
Responsibility for the day-to-day management of risks was delegated to the Head and Senior Leadership Team, who report results and proposed enhancements to the School’s management of risk to the Board on a termly basis. The Governors reviewed the major strategic, safeguarding, operational, financial and external risks which the School faced, and managed these risks.
As set out under the Objective of the Charity and its status, the Governors identified a number of risks facing the School, including a decline in pupil numbers, increasing competitive pressures within the local market, the changing economic climate, the potential removal of business rate relief for independent schools and the introduction of VAT on school fees. To mitigate these risks the decision was taken to merge the School with Bridewell and to transfer the net assets of Longacre School to Bridewell which was completed on 1 January 2025.
Financial Review
Transfer to Bridewell
During the year ended 31 July 2025, Longacre School traded for five months from 1 August 2024 to 31 December 2024. On 1 January 2025 Longacre School became part of Bridewell and ceased to trade as an independent entity. The net assets of Longacre School were transferred to Bridewell on that date, and an application was made to Companies House to have the company Longacre School wound up. Accordingly, these accounts have been prepared on a basis other than Going Concern. See Note 19 for further information.
Results for the Year
During the year ended 31 July 2025 Longacre School received total income of £1,394,124 (2024: £4,123,301). Within this, £1,097,491 (2024: £3,703,177) was from School fees net of bursaries, hardship awards and discounts. An analysis of the School fee income is provided in Note 2 to the financial statements. During the year £181,422 of other income was received, for early repayment of the fixed interest loans, as shown in Note 13. The net deficit for the year before the transfer of the Charity’s net assets to Bridewell was £172,406. As part of the merger, Longacre School’s net assets were transferred to Bridewell at their net book value of £4,842,493 as referred to in Note 19. The net deficit for the year after the transfer of net assets to Bridewell was £5,014,899 (2024: surplus £118,265).
Balance Sheet
On 31 July 2025 the net assets of Longacre School were £nil, due to the transfer of the Charity to Bridewell on 1 January 2025.
Immediately prior to the transfer, the Charity's net assets amounted to £4,842,493. These net assets primarily represented the School's land, buildings and other fixed assets, which had a carrying value of £6,225,063 as set out in Note 8. At the point of transfer, the Charity held cash balances of £286,117 together with other debtors and prepayments of £15,297. These assets were offset by liabilities comprising fees received in advance of £770,924, pupil deposits of £106,850, trade creditors of £56,050, and accruals and other creditors of £80,160. The Charity also had outstanding external borrowings of £2,090,954. Prior to the transfer, Bridewell provided funding of £670,000 to support the repayment of these borrowings, with responsibility for the remaining indebtedness transferring to Bridewell as part of the merger.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 8
LONGACRE SCHOOL
REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2025
General Fund and Reserves policy
The Board’s strategy was to reinvest annual surpluses into the School to increase the General Fund, which was unrestricted. As part of the merger, the General Fund of £4,842,493 was transferred to Bridewell on 1 January 2025, meaning that as of 31 July 2025 the General Fund stood at £nil, (2024: £5,014,899). Following the merger and transfer of net assets, Free Reserves comprising Net Assets less fixed assets and related loans at 31 July 2025 were £nil (2004: £1,006,000).
Pay Policy for School Leadership, Senior Staff and Governors
The Head, Bursar and Senior Teaching Staff comprised the key management personnel of the School. Remuneration of the Head and Bursar was reviewed annually by the Chair of Governors in line with their contracts of employment, considering their own performance and by benchmarking against schools of similar size in the locality. Remuneration of Senior Teaching Staff was reviewed annually by the Head and benchmarked against National Scale Rates for teaching staff of equivalent experience, seniority and responsibility. Annual reviews were effective from the start of the academic year in September 2025. The Governors gave their time and expertise to the School voluntarily throughout the year and did not receive any remuneration in the current or previous year.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 9
LONGACRE SCHOOL
REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 JULY 2025
Statement of Governors’ responsibilities in relation to the financial statements
The Governors, who are the Directors of Longacre School for the purposes of company law, are responsible for preparing the Report of the Governors and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Governors are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Statement of Recommended Practice; Accounting and Reporting by Charities (SORP) October 2019;
-
prepare the financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, the Companies Act 2006 and the 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);
-
make judgments and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Governors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and for taking reasonable steps for the prevention and detection of fraud and other irregularities
The Governors are responsible for the maintenance and integrity of the corporate and financial information included on the School’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Each of the Governors has confirmed that:
-
that Governor has taken all the steps that ought to have been taken as a Governor in order to be aware of any information needed by the Company’s auditors in connection with preparing their report and to establish that the Company’s auditors are aware of that information; and
-
so far as that Governor is aware, there is no relevant audit information of which the Company’s auditors are unaware.
The financial statements have been prepared under the historical cost convention and in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
This report and the associated financial statements have been approved by the Board of Governors and have been signed on its behalf by:
Mr A Blurton – Governor
Date: 9 July 2026
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 10
REPORT OF THE INDEPENDENT AUDITORS
TO THE MEMBERS OF LONGACRE SCHOOL FOR THE YEAR ENDED 31 JULY 2025
Opinion
We have audited the financial statements of Longacre School (the 'charity') for the year ended 31 July 2025 which comprise the Statement of financial activities, the Balance sheet, the 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:
-
give a true and fair view of the state of the charity's affairs as at 31 July 2025 and of its incoming resources and application of resources for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
-
and have been prepared in accordance with the requirements of the Charities Act 2011.
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's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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.
Emphasis of matter - financial statements prepared on a basis other than going concern
We draw your attention to Note 19 of the financial statements which explains the transfer of the operations and net assets from Longacre School to Bridewell Royal Hospital on 1 January 2025 and application to Companies House to have the legal entity wound up. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 1. Our opinion is not modified in respect of this matter. Our responsibilities and the responsibilities of the board members with respect to going concern are described in the relevant sections of the audit report.
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees 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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
REPORT OF THE INDEPENDENT AUDITORS
Page 11
TO THE MEMBERS OF LONGACRE SCHOOL FOR THE YEAR ENDED 31 JULY 2025
-
the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of the Members of the Board
As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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.
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:
-
The Charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the law and regulations that were most significant were the Charities Act 2011, Safeguarding Vulnerable Groups Act 2006 and employment law. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
-
We understood how the Charity is complying with these legal and regulatory frameworks by making enquiries to those charged with governance. We corroborated our inquiries through our review of board minutes.
-
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area.
We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to posting of fraudulent journal entries, authorisation, processing, and payment of fraudulent grant claims and timing of revenue recognition.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 12
REPORT OF THE INDEPENDENT AUDITORS
TO THE MEMBERS OF LONGACRE SCHOOL FOR THE YEAR ENDED 31 JULY 2025
Audit procedures performed by the engagement team included:
-
Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
-
Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
-
Challenging assumptions and judgments made by management in its significant accounting estimates; and identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditor's report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's 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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Menzies LLP
Chartered Accountants Statutory Auditor Magna House 18-32 London Road Staines-upon-Thames TW18 4BP
Date: 9 July 2026
Menzies LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 13
LONGACRE SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2025
| R THE YEAR ENDED 31 JULY 2025 | ||
|---|---|---|
| Notes INCOME AND ENDOWMENTS FROM: Donations Income from charitable activities School fees 2 Other educational income Other ancillary trading income Sundry income 3 Investments Bank and other interest Other Other income 13 Total Income EXPENDITURE ON: Raising funds School financing costs Charitable activities Education 4 Other Transfer of net assets to Bridewell 19 Total expenditure Net (Deficit)/Income and Net Movement in funds for the year Reconciliation of Funds: Fund Balance at 1 August 2024 Fund balance at 31 July 2025 |
Period to 31 July 2025 £ - 1,097,491 3,450 72,538 6,009 33,214 181,422 1,394,124 36,233 1,530,297 4,842,493 6,409,023 (5,014,899) 5,014,899 - |
Year ended 31 July 2024 £ 29,022 3,703,177 9,550 289,448 31,016 61,088 - |
| 4,123,301 | ||
| 106,797 3,898,239 - |
||
| 4,005,036 | ||
| 118,265 4,896,634 |
||
| 5,014,899 |
All funds are unrestricted.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from discontinuing activities.
Notes 1 to 19 form part of these financial statements.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 14
LONGACRE SCHOOL
BALANCE SHEET AT 31 JULY 2025
Company Registration Number 04680792
| BALANCE SHEETAT 31 JULY 2025 Company Registration Number 04680792 |
||
|---|---|---|
| Notes Fixed Assets 8 Current Assets Debtors 9 Cash at bank and in hand Creditors:amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: amounts falling due after more than one year 11 NET ASSETS THE FUNDS OF THE CHARITY Unrestricted Funds |
31 July 2025 £ - - - - - - - - - - |
31 July 2024 £ 6,280,360 |
| 90,374 2,082,759 |
||
| 2,173,133 (872,252) |
||
| 1,300,881 | ||
| 7,581,241 (2,566,342) |
||
| 5,014,899 | ||
| 5,014,899 |
Notes 1 to 19 form part of these financial statements.
The Governors acknowledge their responsibilities for:
-
a) ensuring that the charitable company keeps accounting records that comply with Sections 386 to 387 of the Companies Act 2006; and
-
b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company at each year end of 31 July and of its surplus or deficit for each financial year in accordance with Sections 394 and 395 and which comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
Approved by the Board of Governors on 9 July 2026.
Mr A Blurton – Governor
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 15
LONGACRE SCHOOL
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2025
| Notes Net cash (outflow)/inflow from operations Net (debt)/cash generated from operations 7 Cash flows from investing activities: Purchase of tangible assets 8 Net cash used in investing activities Cash flows from financing activities: Loans repaid Interest paid Interest received Cash transferred to Bridewell Cash received from Bridewell Net cash utilised in financing activities Net change in cash and cash equivalents during the year Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
Period to 31 July 2025 £ (333,418) (39,250) (39,250) (2,090,954) (36,782) 33,762 (286,117) 670,000 (1,710,091) (2,082,759) 2,082,759 - |
Year ended 31 July 2024 £ 1,099,454 |
|---|---|---|
| (124,780) | ||
| (124,780) | ||
| (113,281) (167,885) 61,088 - - |
||
| (220,078) | ||
| 754,596 1,328,163 |
||
| 2,082,759 |
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 16
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
STATUTORY INFORMATION
The charitable company is registered in England and Wales as a private company limited by guarantee. The registered office is Longacre School, Hullbrook Lane, Shamley Green, Guildford, Surrey GU5 0NQ and the company registration number is 04680792. The company is registered with the Charity Commission under number 1096567. The Charitable company meets the definition of a public benefit entity under FRS102.
1. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared under the historical cost convention in accordance with the Companies Act 2006 and the 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). On 1 January 2025 Longacre School became part of the charity Bridewell Royal Hospital. As a result, the financial information in these financial statements in respect of the School for the year ended 31 July 2025, including all its trading operations, is only in respect of the five months from 1 August 2024 to 31 December 2024. On 1 January 2025 the net assets of Longacre School were transferred to Bridewell Royal Hospital and the School ceased to trade as an independent entity on that date. Application has been made to Companies House to wind up the company. Accordingly, these accounts have been prepared on a basis other than a Going Concern.
(b) Critical accounting judgements and key sources of estimation uncertainty
In their application of the accounting policies, the Governors are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on a regular basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects current and future periods.
(c) Fees and similar income
Fees receivable and similar income for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting bursaries, hardship allowances and other remissions granted by the School.
(d) Donations
Voluntary income resources are accounted for as and when entitlement arises, the amount can be reasonably reliably quantified and the economic benefit to the School is considered probable. Donations receivable for the general purpose of the School are credited to Unrestricted funds. Donations for purposes restricted by the wishes of the donor which are legally binding on the Governors are credited to Restricted funds.
(e) Taxation
The School is a registered charity. As such it is exempt under present legislation from assessment to corporation tax on its net income and is able to reclaim tax from donations made to the School through Gift Aid.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 17
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
(f) Tangible fixed assets and depreciation
All capital projects with a value of £2,000 or more are capitalised. Fixed Assets are included in the financial statements at their historic cost and accumulated depreciated which is charged over their estimated useful lives at the following annual rates:
Freehold land - Not depreciated - Freehold buildings 1% on straight line basis - Computer equipment 33% on straight line basis - Furniture and other equipment 15% on straight line basis Motor vehicles - 20% on straight line basis
(g) Expenditure
Expenditure is accrued as soon as a liability is considered probable and discounted to present value for longerterm liabilities where interest rates incurred are different from prevailing market rates. Expenditure is apportioned in the year to cost categories based on the estimated amount attributable to each activity. VAT incurred is currently irrecoverable and is included with the item of cost to which it relates.
Support costs comprise the relevant proportion of staff costs and relevant overheads of the School. Redundancy costs are expensed when commitments are incurred. Governance costs are those incurred in connection with the governance of the School and compliance with constitutional and statutory requirements.
(h) Operating leases
Rentals under operating leases are charged on a straight-line basis over the lease term. Benefits receivable as part of an operating lease are similarly spread on a straight-line basis over the lease term.
(i) Pension schemes
All staff are auto enrolled into the defined contribution personal pension scheme operated by the School. The pension scheme meets the Pensions Regulator's rules for a qualifying pension scheme. The School’s contributions in respect of these pension arrangements are reflected in these financial statements.
(j) Debtors
Trade and other debtors are recognised at the settlement amount due. Provision is made against debts where recoverability is in doubt.
(k) Cash at bank in hand
Cash at bank and in hand includes cash held in bank deposit accounts, in instant access bank accounts and cash available for day-to-day operations.
(l) Creditors and provisions
Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in a transfer of funds or value to a third party and the amount to settle the obligation can be reliably measured or estimated.
(m) Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. In subsequent years, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction, it is measured at present value.
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 18
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
(n) Financial instruments
The charitable company has financial assets and liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and in subsequent years at their settlement value.
| 2. SCHOOL FEES Fees receivable Less bursaries and awards provided by the School |
Year ended 31 July 2025 £ 1,200,950 (103,459) 1,097,491 |
Year ended 31 July 2024 £ 4,071,450 (368,273) 3,703,177 |
|---|---|---|
During the year ended 31 July 2025 means tested bursaries and hardship support totalling £56,205 was awarded to 17 pupils (2024: £272,423 means tested bursaries awarded to 27 pupils).
3. SUNDRY INCOME
| Receipts from hire of premises Income from additional activities |
Year ended 31 July 2025 £ 4,016 1,993 6,009 |
Year ended 31 July 2024 £ 28,742 2,274 31,016 |
|---|---|---|
- ANALYSIS OF TOTAL EXPENDITURE
| Note Charitable activities School operating costs: Teaching costs Welfare costs Premises costs Support costs Governance costs 5 |
Year ended 31 July 2025 Year ended 31 July 2024 Staff Depreciation Other Total Total £ £ £ £ £ 799,053 - 41,139 840,192 2,434,884 - - 136,539 136,539 333,178 41,511 79,590 141,313 262,414 456,264 148,097 14,957 126,877 289,931 656,456 - - 1,221 1,221 17,457 988,661 94,547 447,089 1,530,297 3,898,239 |
|---|---|
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 19
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
| 5. GOVERNANCE COSTS Year ended 31 July 2025 £ Trustee insurance 1,077 Audit fees - Governor training 144 1,221 The £10,000 fee for the audit of these financial statements has been paid by Bridewell. 6. STAFF COSTS Year ended 31 July2025 £ Wages and salaries 819,499 Social security costs 79,240 Pension contributions (Note 16) 89,922 988,661 Staff remuneration in excess of £60,000 per employee was as follows: Year ended 31 July2025 No of staff £60,001 to £70,000 - £70,001 to £80,000 - |
Year ended 31 July 2024 £ 1,077 13,080 3,300 17,457 Year ended 31 July2024 £ 2,083,874 194,526 216,812 2,495,212 Year ended 31 July2024 No of staff 2 1 |
|
|---|---|---|
Contributions totalling £nil (2004: £16,963) were made by the School for these employees to the defined contribution pension scheme operated by the School. The staff remuneration amounts in the above table do not include pension contributions.
Key Management Personnel
| Key Management Personnel | ||
|---|---|---|
| Year ended | Year ended | |
| 31 July2025 | 31 July2024 | |
| £ | £ | |
| The aggregate employee benefits of key management personnel were: | 202,976 | 640,993 |
During the reporting period there were 9 key management personnel (2024: 11).
The average number of employees during the reporting period was as follows:
| Teaching staff Administrative staff |
Year ended 31 July2025 46 15 61 |
Year ended 31 July2024 54 14 68 |
|---|---|---|
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 20
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
Following completion of the merger, there were no staff employed by the Charity from 1 January 2025. As a result, the average staff number for the year ended 31 July 2025 has been calculated by reference to the fivemonth period ended 31 December 2024. In addition to the above, the School has had a number of parent volunteers who between them provide approximately 10 hours (2024: 10) of support per week when the School is physically in session.
7. NOTES TO THE CASH FLOW STATEMENT
Reconciliation of net (deficit)/income to net (debt)/cash generated from operations
| Reconciliation of net (deficit)/income to net (debt)/cash generated | from operations | |
|---|---|---|
| Net (deficit)/income for the year Adjustments for non-cash items and items separately disclosed: Finance income Finance costs Depreciation Fees received in advance in prior years credited to Income Transfer of net assets to Bridewell Net (debt)/cash generated from operating activities Movement in working capital Decrease/(Increase) in debtors Decrease in creditors Increase in fees in advance creditors Decrease in deposits received Net (debt)/cash generated from operations |
Year ended 31 July 2025 £ (5,014,899) (214,636) 36,233 94,547 (153,180) 4,842,493 (409,442) 75,078 (49,013) 50,965 (1,006) (333,418) |
Year ended 31 July 2024 £ 118,265 - 106,797 224,062 (63,429) - |
| 385,695 (3,879) (42,103) 765,585 (5,844) |
||
| 1,099,454 |
Analysis of changes in net debt
| Cash in Hand Bank Loans Bridewell Loan Total Change in Net Debt |
1 August 2024 £ 2,082,759 (2,272,376) - (189,617) |
Cash flow £ (375,688) 181,422 - (194,266) |
Loan from Bridewell £ 670,000 - (670,000) - |
Repayment of loan £ (2,090,954) 2,090,954 - - |
Net transfer to Bridewell £ (286,117) - 670,000 383,883 |
31 July 2025 £ - - - |
|---|---|---|---|---|---|---|
| - |
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 21
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
8. FIXED ASSETS
| 8. FIXED ASSETS | ||
|---|---|---|
| Freehold Land and Buildings Computer equipment Furniture and other Equipment Motor Vehicles £ £ £ £ Cost At 31 July 2024 7,793,823 313,339 405,470 108,970 Additions - 38,564 686 - Transfer to Bridewell (7,793,823) (351,903) (406,156) (108,970) At 31 July 2025 - - - - Accumulated depreciation At 31 July 2024 1,685,771 283,906 271,855 99,710 Charge for the year 64,113 12,063 15,477 2,894 Transfer to Bridewell (1,749,884) (295,969) (287,332) (102,604) At 31 July 2025 - - - - Net book value at 31 July 2025 - - - - Net book value at 31 July 2024 6,108,052 29,433 133,615 9,260 During the year ended July 2025 operating lease rentals included in School operating costs (2024: £11,160). 9. DEBTORS 31 July 2025 £ Fees receivable - Prepayments - Other debtors - - 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31 July 2025 £ Bank loans (Note 13) - Deposits received - Fees received in advance - Trade creditors - Tax & Social Security - Other creditors - Accruals - - |
Freehold Land and Buildings Computer equipment Furniture and other Equipment Motor Vehicles £ £ £ £ 7,793,823 313,339 405,470 108,970 - 38,564 686 - (7,793,823) (351,903) (406,156) (108,970) |
Total £ 8,621,602 39,250 (8,660,852) |
| - - - - |
- | |
| 1,685,771 283,906 271,855 99,710 64,113 12,063 15,477 2,894 (1,749,884) (295,969) (287,332) (102,604) |
2,341,242 94,547 (2,435,789) |
|
| - - - - |
- | |
| - - - - |
- | |
| 6,108,052 29,433 133,615 9,260 |
6,280,360 | |
| totalled £4,650 31 July 2024 £ 13,338 71,839 5,197 |
||
| 90,374 | ||
| 31 July 2024 £ 116,739 18,156 552,134 53,726 42,544 2,644 86,309 872,252 |
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 22
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
| 11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Deposits received Fees received in advance (Note 12) Bank loans (Note 13) |
31 July 2025 £ - - - - |
31 July 2024 £ 89,700 321,005 2,155,637 2,566,342 |
|---|---|---|
12. FEES IN ADVANCE
Parents may pay school fees in advance under individual contracts provided by the School. The balance received at each year end represents the fees received in advance assuming pupils remain in school for the remaining years in question. These were as follows:
| Within one year Between one and two years Between two and five years Movements during the year ended 31 July 2025 were as follows: Balance at 1 August 2024 Less amounts credited to pupils’ fee accounts in year Add amounts received for future years Less amounts transferred to Bridewell |
31 July 2025 £ - - - - |
31 July 2024 £ 552,134 203,418 117,587 |
||
|---|---|---|---|---|
| 873,139 | ||||
| Year ended 31 July 2025 £ 873,139 (153,180) 50,965 (770,924) - |
Year ended 31 July 2024 £ 84,205 (63,429) 852,363 - 873,139 |
|||
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 23
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
13. BANK LOANS
Until December 2024, the Company had four fixed rate bank loans from the same bank secured on its freehold land and buildings. In December 2024 all four loans, totalling £2,090,954 at that point were repaid using the School’s cash resources and a loan of £670,000 from Bridewell. A fixed rate loan repayment credit of £181,422 was received on their repayment.
| Remaining term of loan Interest rate payable per annum First loan - Founders Loan 4½ years 1% Second loan - Palmer Hall Loan 16 years Base + 1.8% Third loan - 2016 Fixed Loan 17 years 3.75% Fourth Loan - 2017 Fixed Loan 18 years 3.81% |
Loan repayments in next year Total loan drawn at 31 July 2025 Total loan drawn at 31 July 2024 £ £ £ - - 163,333 - - 697,968 - - 774,756 - - 636,319 |
|---|---|
| - - 2,272,376 |
Due:
| Within one year After more than one year |
- 116,739 - 2,155,637 - 2,272,376 |
|---|---|
14. CONTINGENCIES
At 31 July 2025, the Company had no outstanding commitments for future lease payments and other costs under non-cancellable obligations as follows:
| Payable not later than one year Payable later than one year but not later than five years |
Year ended 31 July 2025 £ - - - |
Year ended 31 July 2024 £ 8,484 570 9,054 |
|---|---|---|
15. CAPITAL COMMITMENTS
At 31 July 2025, the School had no commitments for future capital expenditure.
16. PENSION SCHEME
The School contributes to a defined contribution pension scheme for the benefit of all staff. The contributions for the year ended 31 July 2025 totalled £89,922 (2024: £216,812).
Docusign Envelope ID: 716AD8A1-267F-8B40-826E-F3A9CC6E84CA
Page 24
LONGACRE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2025
17. GOVERNORS AND RELATED PARTIES
In accordance with the Company's Articles of Association, the Governors are granted an indemnity from the Company in respect of liabilities incurred as a result of their office as Governors. The School carries insurance in respect of this indemnity. The cost for the year ended 31 July 2025 was £1,077 (2024: £1,077). No Governors received any remuneration during the year ended 31 July 2025 (2024: £nil).
Shortly before completion of the merger in January 2025, Bridewell lent £670,000 to Longacre School to assist in the repayment of its bank loans and the transfer of its net assets to Bridewell. On 1 January 2025, the net assets of Longacre School totalling £4,842,493 were transferred to Bridewell, further details of which are set out in Note 19. There were no other related party transactions during the current or previous year.
18. COMPANY LIMITED BY GUARANTEE AND CONTROLLING PARTY
The Company has no share capital and is limited by guarantee. As stated in the Memorandum and Articles of Association of the Company, the liability of each Governor in the event of a winding up of the Company is limited to £10.
19. TRANSFER OF CHARITY TO BRIDEWELL
On 7 October 2024, the Board announced that Longacre School had entered into binding commitments to merge with Bridewell, with the merger completed on 1 January 2025. The fair value of the net assets of Longacre School at 1 January 2025 were £4,842,493, as shown below.
The net debt position transferred to Bridewell was £383,883. This represented cash of £286,117 less a loan of £670,000 advanced by Bridewell to Longacre School.
| 000 advanced by Bridewell to Longacre School. | |
|---|---|
| Tangible Assets Trade Debtors Bad Debt Provision Other Debtors and Prepayments Cash Trade Creditors Accruals and Other Creditors Fees in Advance Deposits received Loan from Bridewell Fair value of the net assets of Longacre School at date of merger |
Total 6,225,063 40,321 (40,548) 15,524 286,117 (56,050) (80,160) (770,924) (106,850) (670,000) |
| 4,842,493 |