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||`Page`|
|---|---|
|`Company information`|`1`|
|`Trustees' report (incorporating the Strategic report)`|`2-12`|
|`Independent auditor's report`|`13-16`|
|`Financial statements of the group and the charitable company`|`17-46`|





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|`Trustees`|`Mr T E Fielden (Chairman)`|
|---|---|
||`Mr N J Pearce`|
||`Mr ED Theakston`|
||`Mr J M Gawthorpe`|
||`Mr L France`|
||`Mrs C Attey`|
||`Mrs A Coates`|
||`Mrs J Wood (appointed 4 December 2024)`|
||`Mr P Cramp (appointed 4 December 2024)`|
||`Ms.H Morgan (appointed 26 March 2025)`|
|`Secretary`|`Mrs KS Thompson`|
|`Charity No.`|`1098410`|
|`Company No.`|`4806128`|
|`Principal address and Registered Office`|`Queen Mary's School (Baldersby) Limited`|
||`Baldersby Park`|
||`Topcliffe`|
||`Thirsk`|
||`North Yorkshire`|
||`YO7 3BZ`|
|`Key Management Personnel`||
|`Head`|`Mrs F Beadnell (from 1 September 2025)`|
||`Mrs CA M Cameron (until 31 August 2025)`|
|`Bursar`|`Mrs KS Thompson`|
|`Auditor`|`Moore Kingston Smith LLP`|
||`9 Appold Street`|
||`London`|
||`EC2A 2AP`|
|`Bankers`|`Lloyds Corporate and Commercial`|
||`102 Grey Street`|
||`Newcastle upon Tyne`|
||`NE1 6AG`|
|`Solicitors`|`Wrigleys Solicitors LLP`|
||`19 Cookridge Street`|
||`Leeds`|
||`LS2 3AG`|
|`Insurance Brokers`|`Marsh Ltd`|
||`Capital House`|
||`1-5 Perrymount Road`|
||`Haywards Heath`|
||`West Sussex`|
||`RH16 3SY`|





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|`MrTEFielden`|`(Chairman)`|
|---|---|
|`MrAJFallows`|`(resigned 9 October 2024)`|
|`Mr NJ Pearce`||
|`MrED Theakston`||
|`Rev'd S Jukes`|`(resigned 24 November 2025)`|
|`Ms N Gunson`|`(resigned 25 November 2024)`|
|`Mr J M Gawthorpe`||
|`Mr L France`||
|`Mrs C Attey`||
|`Mrs A Coates`||
|`Mrs J Wood`|`(appointed 4 December 2024)`|
|`Mr P Cramp`|`(appointed 4 December 2024)`|
|`Ms H Morgan`|`(appointed 26 March 2025)`|



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||`Notes`|`Unrestricted`|`Restricted`|`Endowed`|`Total`|`Total`|
|---|---|---|---|---|---|---|
|||`Funds`|`Funds`|`Funds`|`2025`|`2024`|
|||`ε`|`£`|`£`|`£`|`ε`|
|`Income and endowments from:`|||||||
|`Charitable Activities`|||||||
|`School fees receivable`|`2`|`3,659,131`|||`3,659,131`|`4,164,022`|
|`Ancillary trading income`|`3`|`563,570`|||`563,570`|`515,232`|
|`Other trading activities`|||||||
|`Non-ancillary trading income`|`4`|`123.307`|||`123,307`|`126,568`|
|`Investments`|||||||
|`Investment income`|`5`|`141.102`|`66,306`||`207,408`|`162,187`|
|`Bank and other interest`|`6`|`459`|||`459`|`2.248`|
|`Other - Grants and donations`|||||||
|`Grants and donations`|`7`|`1.625`|`4,695`||`6,320`|`8.010`|
|`Other incoming resources`|||||||
|`TOTAL INCOMING`<br>`RESOURCES`|`24`|`4,489,194`|`71,001`||`4,560,195`|`4,978,267`|
|`Expenditure on:`|||||||
|`Raising funds`|`8`||||||
|`Non-ancillary trading`||`22,511`|||`22.511`|`51.805`|
|`Financing costs`|`9`|`5.164`|||`5.164`|`44.382`|
|`TOTAL DEDUCTIBLE COSTS`||`27,675`|||`27.675`|`96.187`|
|`Charitable Activities`|||||||
|`Education and grant making`|`8 `|`4,907,275`|||`4,907,275`|`4,937,082`|
|`TOTAL EXPENDITURE`||`4.934.950`|||`4,934,950`|`5,033,269`|
|`Net (losses)/gains on investment`<br>`assets`|`14`|`(107,904)`|`(73,907)`|`1,408`|`(180,403)`|`472,201`|
|`Net income before tax`||`(553,660)`|`(2,906)`|`1,408`|`(555,158)`|`417,199`|
|`Taxation`||`10`|||`10`|`(4,894)`|
|`Net income`||`(553,650)`|`(2,906)`|`1.408`|`(555,148)`|`412,305`|
|`Transfers between funds`|`24`|`72,098`|`(72,098)`||||
|`Net Movement in funds for the`<br>`year`||`(481,552)`|`(75,004)`|`1,408`|`(555,148)`|`412,305`|
|`Fund balances at 1st September`||`7,049,321`|`2,463,851`|`32,481`|`9,545,653`|`9,133,348`|
|`FUND BALANCES AS AT 31ST AUGUST`||`6,567,769`|`2,388,847`|`33,889`|`8,990,505`|`9,545,653`|





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||`Notes`|`Unrestricted`|`Restricted`|`Endowed`|`Total`|`Total`|
|---|---|---|---|---|---|---|
|`Income and endowments from:`||`Funds`|`Funds`|`Funds`<br>`3`|`2025`<br>`£`|`2024`|
|`Charitable Activities`|||||||
|`School fees receivable`|`2`|`3,659,131`|||`3,659,131`|`4,164,022`|
|`Ancillary trading income`|`3`|`563,570`|||`563,570`|`515,232`|
|`Other trading activities`|||||||
|`Non-ancillary trading income`|`4`|`58,551`|||`58,551`|`42,574`|
|`Investments`|||||||
|`Investment income`|`5`|`52,631`|`66,306`||`118,937`|`75,274`|
|`Bank and other interest`|`6`||||||
|`Other- Grants and donations`|||||||
|`Grants and donations`|`7`|`120,024`|`14,695`||`134,719`|`94,923`|
|`Other incoming resources`|||||||
|`TOTAL INCOMING`<br>`RESOURCES`|`24 `|`4,453,907`|`81,001`||`4,534,908`|`4,892,025`|
|`Expenditure on:`|||||||
|`Raising funds`|`8`||||||
|`Non-ancillary trading`|||||||
|`Financing costs`|`9`|`5.134`|||`5,134`|`44.305`|
|`TOTAL DEDUCTIBLE COSTS`||`5.134`|||`5,134`|`44,305`|
|`Charitable Activities`|||||||
|`Education and grant making`|`8`|`4,894,127`|`10,000`||`4,904,127`|`7,934,682`|
|`TOTAL EXPENDITURE`||`4,899,261`|`10,000`||`4,909,261`|`7,978,987`|
|`Net (losses)/gains on investment`<br>`assets`|`14,15`|`(9,430)`|`(73,907)`|`1,408`|`(81,929)`|`226,348`|
|`Net (expenditure)/income`||`(454,784)`|`(2,906)`|`1,408`|`(456,282)`|`(2,860,614)`|
|`Transfers between funds)`|`24`|`72,098`|`(72,098)`||||
|`Net Movement in funds for the`<br>`year`||`(382,686)`|`(75,004)`|`1,408`|`(456,282)`|`(2,860,614)`|
|`Fund balances at 1st September`||`3,776,808`|`2,463,851`|`32,481`|`6,273,140`|`9,133,754`|
|`FUND BALANCES AS AT 31ST`<br>`AUGUST`||`3,394,122`|`2,388,847`|`33,889`|`5,816,858`|`6,273,140`|





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## 

||`Note`|`Group`||`Charity`||
|---|---|---|---|---|---|
|||`2025`|`2024`|`2025`|`2024`|
|||`ε`|`£`|`3`|`£`|
|`FIXED ASSETS`||||||
|`Tangible assets`|`13`|`3,250,342`|`3,539,935`|`3,250,342`|`3,539,935`|
|`Investments`|`14`|`5,830,983`|`6,021,386`|`2,693,604`|`2,775,533`|
|`Investment in subsidiaries`||||`2`|`2`|
|||`9,081,325`|`9,561,321`|`5,943,948`|`6,315,470`|
|`CURRENT ASSETS`||||||
|`Stock`||`36,066`|`43.233`|`36,066`|`43.233`|
|`Debtors`|`15`|`1,228,787`|`1,178.438`|`1,265,535`|`1,203,241`|
|`Cash at bank and in hand`||`1,351,967`|`1,582,713`|`1,273,079`|`1,515,381`|
|||`2,616,820`|`2,804,384`|`2,574,680`|`2,761,855`|
|`CURRENT LIABILITIES`||||||
|`Creditors payable within one year`|`16`|`(2,458,984)`|`(2,180,608)`|`(2,453,114)`|`(2,164,741)`|
|`NET CURRENT ASSETS`||`157,836`|`623,776`|`121,566`|`597,114`|
|`TOTAL ASSETS LESS CURRENT`<br>`LIABILITIES`||`9,239,161`|`10,185,097`|`6,065,514`|`6,912,584`|
|`LONG TERM LIABILITIES`||||||
|`Creditors payable after one year`|`17`|`(248,556)`|`(639,344)`|`(248,556)`|`(639,344)`|
|`Provisions for liabilities`||||||
|`TOTAL NET ASSETS`||||||
|`EXCLUDING PENSION`||`8,990,605`|`9,545,753`|`5,816,958`|`6,273,240`|
|`ASSET/(LIABILITY)`||||||
|`NET ASSETS`||`8,990,605`|`9,545,753`|`5,816,958`|`6,273,240`|
|`REPRESENTED BY:`||||||
|`CALLED UP SHARE CAPITAL`|`21`|`100`|`100`|`100`|`100`|
|`ENDOWED FUNDS`|`24,25`|`33,889`|`32,481`|`33,889`|`32.481`|
|`RESTRICTED FUNDS`|`24.25`|`2,388,847`|`2,463,851`|`2,388,847`|`2,463,851`|
|`UNRESTRICTED FUNDs`||||||
|`General reserve`|`24,25`|`6,567,769`|`7,049,321`|`3,394,122`|`3,776,808`|
|||`8,990,605`|`9,545,753`|`5,816,958`|`6,273,240`|





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|||`2025`|`2024`|
|---|---|---|---|
||`Notes`|`£'000`|`£'000`|
|`Cash flows from operating activities:`||||
|`Net cash used in operating activities`|`28`|`(571,675)`|`(159,472)`|
|`Cash flows from investing activities:`||||
|`Dividends, interest and rents from investments`||`207,867`|`162,250`|
|`Purchase of property, plant and equipment`||`(52,298)`|`(163,713)`|
|`VAT reclaimed under Capital Goods Scheme`||`175,360`||
|`Purchase of investments`|||`(2,240,000)`|
|`Withdrawals from investments`||`10,000`||
|`Net cash provided by (used in) investing activities`||`340,929`|`(2,241,463)`|
|`Cash flows from financing activities:`||||
|`Repayments of borrowing`|||`(116,305)`|
|`Fees in advance - new contracts`|||`1.197.211`|
|`Net cash provided by (used in) financing activities`|||`1,080,906`|
|`Change in cash and cash equivalents in the year`||`(230,746)`|`(1,320,029)`|
|`Cash and cash equivalents at the beginning of the year`||`1,582,713`|`2,902,742`|
|`Cash and cash equivalents at the end of the year`|`29`|`1,351,967`|`1,582,713`|






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|||`2025`|`2024`|
|---|---|---|---|
||||`£`|
||`The school fees income comprises`|||
||`Gross fees`|`4,378,396`|`4,764,627`|
||`Less: Total scholarships, bursaries, etc`|`(719,265)`|`(600,605)`|
||`Add back: Scholarships, Grants etc paid for by Restricted`||`25,639`|
||`Funds`|||
|||`3,659,131`|`4,189,661`|
||`*This has been presented as transfer between funds in 2025 - see note 24`|||
||`Scholarships, bursaries and other awards were paid to 99 pupils (2024: 111 pupils). Within this,`|||
||`means-tested bursaries totalling £356,830 were paid to 27 pupils `|`(2024: £338,417 to 32 pupils)`||
|`3.`|`CHARITABLE ACTIVITIES -ANCILLARY TRADING INCOMЕ`|||
|||`2025`|`2024`|
||`Extras`|`266,798`|`217.216`|
||`Entrance fees and registration fees`|`6,020`|`5,350`|
||`Pupil transport`|`35,853`|`42,906`|
||`Rent receivable and related income`||`13,875`|
||`Commissions and related income`||`172`|
||`Sundry other income`|`254,899`|`235,713`|
|||`563,570`|`515,232`|
|`4. `|`ОТНER TRADING ACTIVITIES`|||
||`Group`|`2025`|`2024`|
|||`£`|`£`|
||`Non-ancillary trading income`<br>`Woodard Lettings Enterprise company trading turnover`|`74,756`|`93,994`|
||`Lettings income`|`34,000`|`30,504`|
||`Interest receivable - pupil bills`|`8,294`|`1,750`|
||`Other non-ancillary trading income`|`6,257`|`320`|
|||`123,307`|`126,568`|
||`Charity`|`2025`|`2024`|
|||`ε`|`£`|
||`Non-ancillary trading income`|||
||`Lettings income`|`34,000`|`30,504`|
||`Interest receivable - pupil bills`|`8,294`|`1,750`|
||`Other non-ancillary trading income`|`16,257`|`10,320`|
|||`58.551`|`44,574`|





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|`5. INVESTMENTS - INVESTMENT INCOME`|`5. INVESTMENTS - INVESTMENT INCOME`|`5. INVESTMENTS - INVESTMENT INCOME`||||
|---|---|---|---|---|---|
|`Group`||||||
||`Unrestricted`|`Restricted`|`Endowed`|`Total`|`Total`|
|||||`2025`|`2024`|
||`E`|`£`|`£`|`£`|`£`|
|`Investment income`||||||
|`Equities`|`141,102`|`66,306`||`207,408`|`162,187`|
||`141,102`|`66,306`||`207,408`|`162,187`|
|`Charity`||||||
||`Unrestricted`|`Restricted`|`Endowed`|`Total`|`Total`|
|||||`2025`|`2024`|
||`£`|`ε`|`£`|`E`|`ε`|
|`Investment income`||||||
|`Equities`|`52,631`|`66,306`||`118,937`|`75.274`|
||`52,631`|`66,306`||`118,937`|`75,274`|
|`6. INVESTMENTS - BANK AND OTHER `||`INTEREST RECEIVABLE`||||
|`Group`|`Unrestricted`|`Restricted`|`Endowed`|`Total`|`Total`|
|||||`2025`|`2024`|
|||||`£`||
|`Bank interest`|`459`|||`459`|`2.248`|
||`459`|||`459`|`2.248`|





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|`Group`||||||
|---|---|---|---|---|---|
||`Unrestricted`|`Restricted`|`Endowed`|`Total`|`Total`|
|||||`2025`|`2024`|
||||||`£`|
|`Other grants and`<br>`donations`|`509`|`4.695`||`5,204`|`8,010`|
|`Queen Mary's`<br>`Friends`|`1,116`|||`1,116`||
||`1,625`|`4,695`||`6,320`|`8,010`|
|`Charity`||||||
||`Unrestricted`|`Restricted`|`Endowed`|`Total`|`Total`|
|||||`2025`|`2024`|
|||||`£`|`F`|
|`Woodard Lettings`<br>`Yorkshire Schools Ltd`|`29.928`|||`29,928`||
|`Queen Mary's`<br>`Foundation`|`88,471`|`10,000`||`98,471`|`86,913`|
|`Queen Mary's Friends`|`1,116`|||`1,116`||
|`Other grants and`<br>`donations`|`509`|`4.695`||`5,204`|`8,010`|
||`120,024`|`14,695`||`134,719`|`94.923`|





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## 

|`- `||||||
|---|---|---|---|---|---|
||`Staff`|`Support`|`Depreciation`|`Total`|`Total`|
||`costs`|`costs`||||
||`(note 10)`||`(Note 13)`|`2025`|`2024`|
||`£`|`ε`||`ε`|`£`|
|`Costs of raising funds`||||||
|`Non ancillary trading`|`20,936`|`1,575`||`22,511`|`51,805`|
|`Financing cost (note 9)`||`5,164`||`5,164`|`44,382`|
|`Total cost of generating`<br>`funds`|`20,936`|`6,739`||`27,675`|`96,187`|
|`Charitable expenditure`||||||
|`Teaching`|`1,988,309`|`359.296`|`9,291`|`2,356,896`|`2,249,214`|
|`Welfare`|`273.208`|`515,226`||`788,434`|`805,157`|
|`Premises`|`122.271`|`469.446`|`157,240`|`748,957`|`831.927`|
|`School administration`|`533,662`|`360,422`||`894,084`|`951,037`|
|`Governance (note 8d)`|`10,993`|`107,911`||`118,904`|`86,767`|
|`Education and grant`<br>`making`|`2,928,443`|`1,812,301`|`166,531`|`4,907,275`|`4,924,102`|
|`Total Expenditure`|`2,949,379`|`1,819.040`|`166,531`|`4,934,950`|`5,020,289`|
|`Charity`||||||
||`Staff`|`Support`|`Depreciation`|`Total`|`Total`|
||`costs`|`costs`||||
||`(note 10)`||`(Note 13)`|`2025`|`2024`|
||`£`|`£`||`ε`|`£`|
|`Costs of raising funds`||||||
|`Financing cost`||`5.134`||`5,134`|`44,305`|
|`Total cost of generating`<br>`funds`||`5.134`||`5,134`|`44,305`|
|`Charitable expenditure`||||||
|`Teaching`|`1,988,309`|`359,296`|`9.291`|`2,356,896`|`2,249,214`|
|`Welfare`|`273,208`|`515.226`||`788,434`|`805,157`|
|`Premises`|`122,271`|`469.446`|`157,240`|`748,957`|`831.927`|
|`School administration`|`533,662`|`360,422`||`894,084`|`951,037`|
|`Donations`|||||`3,000,000`|
|`Governance (note 8d)`|`10,993`|`104,763`||`115,756`|`84,367`|
|`Education and grant`<br>`making`|`2,928,443`|`1,809,153`|`166,531`|`4,904,127`|`7,921,702`|
|`Total Expenditure`|`2,928,443`|`1,814,287`|`166,531`|`4,909,261`|`7,966,007`|





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|`b) Comparative analysis of expenditure`||||||
|---|---|---|---|---|---|
|`Group`||||||
|||`Staff`|`Support`|`Depreciation`|`Total`|
|||`costs`|`costs`|||
|||`(Note 10)`||`(Note 13)`|`2024`|
|||`ε`|`Σ`||`£`|
|`Costs of raising funds`||||||
|`Non ancillary trading`||`18.802`|`33,003`||`51,805`|
|`Financing cost (note 9)`|||`44,382`||`44,382`|
|`Total cost of generating funds`||`18,802`|`77,385`||`96,187`|
|`Charitable expenditure`||||||
|`Teaching`||`1,959,956`|`269,100`|`20,158`|`2,249,214`|
|`Welfare`||`278,281`|`526,876`||`805,157`|
|`Premises`||`134,233`|`516,641`|`181.053`|`831,927`|
|`School administration`||`547,337`|`403,700`||`957,037`|
|`Governance (note 8d)`||`8.620`|`78.147`||`86,767`|
|`Education and grant making`||`2,928,427`|`1,794,464`|`201,211`|`4,924,102`|
|`Total Expenditure`||`2,947,229`|`1,871,849`|`201,211`|`5,020,289`|
|`Charity`||||||
|||`Staff`|`Support`|`Depreciation`|`Total`|
|||`costs`|`costs`|||
|||`(Note 10)`||`(Note 13)`|`2024`|
|||`£`|`£`||`£`|
|`Costs of raising funds`||||||
|`Financing cost`|||`44,305`||`44,305`|
|`Total cost of generating funds`|||`44,305`||`44,305`|
|`Charitable expenditure`||||||
|`Teaching`||`1,959,956`|`269,100`|`20,158`|`2,249,214`|
|`Welfare`||`278,281`|`526,876`||`805,157`|
|`Premises`||`134,233`|`516,641`|`181,053`|`831,927`|
|`School administration`||`547.337`|`403.700`||`951,037`|
|`Donations`|||`3,000,000`||`3,000,000`|
|`Governance (note 8d)`||`8,620`|`75,747`||`84,367`|
|`_Education.and.grant.making.`|`_`|`2,928,427-`|`4,792,064`|`201:211`|`7,921,702`|
|`Total Expenditure`||`2.928,427`|`4,836,369`|`201,211`|`7,966,007`|





## 

## 

|`accommodation, where a claim is made. No governors were reimburs`|`ed during the year (`|`024: None).`|
|---|---|---|
||`2025`|`2024`|
|||`£`|
|`Remuneration paid to auditor for audit services`|`27,194`|`23,940`|
|`Depreciation of tangible fixed assets:`|||
|`- owned by the charitable company`|`203,615`|`201.211`|
|`- adjustment to depreciation relating to VAT (see note 13)`|`(37,084)`||
|`Operating lease rentals:`|||
|`- other assets`|`52,789`|`24,019`|
|`Reimbursement of personal expenses to governors`|||
|`d) Governance costs`|||
||`2025`|`2024`|
||`ε`|`£`|
|`Audit fees`|`27.194`|`23,940`|
|`Accountancy fees`|`47,986`|`29,371`|
|`Clerk to the Governors`|`10,993`|`8,620`|
|`Other governance costs`|`32,731`|`24,836`|
||`118,904`|`86,767`|
|`9. FINANCING COSTS`|||
|`Group`|`2025`|`2024`|
||`ε`|`£`|
|`Bank interest payable`||`2,185`|
|`Other interest payable`||`47`|
|`Bank charges`|`3.670`|`692`|
|`Other finance costs`|`1,494`|`10.039`|
|`Provision for bad and doubtful debts`||`31,419`|
||`5,164`|`44,382`|
|`Charity`|`2025`|`2024`|
||`£`|`E`|
|`Bank interest payable`||`2,185`|
|`Bank charges`|`3,640`|`662`|
|`Other finance costs`|`1,494`|`10,039`|
|`Provision for bad and doubtful debts`||`31,419`|
||`5,134`|`44,305`|





## 

## 

|`10. STAFF COSTS`|||
|---|---|---|
||`2025`|`2024`|
||`£`|`£`|
|`The aggregate payroll costs for the year were:`|||
|`Wages and salaries`|`2,423,189`|`2,411,395`|
|`Social security costs`|`264,490`|`223,334`|
|`Other pension costs`|`261,700`|`312,500`|
||`2,949,379`|`2,947,229`|



||`2025`|`2024`|
|---|---|---|
||`£`|`£`|
|`Aggregate employee benefits of key management personnel`|`277,673`|`223,413`|
|`The number of higher paid employees whose annual emoluments were`|||
|`£60,000 or more was:`|||
||`2025`|`2024`|
||`No`|`No`|
|`£60,001 - £70,000`|||
|`£70,001 - £80,000`||`1`|
|`£80,001 - £90,000`|`1`||
|`£90,001 - £100,000`|`1`||





## 

## 

## 

|`The average number of employees during the y`<br>`(2024: 87)`|`ear calculated on a head count basis, was`|`82`|
|---|---|---|
||`2025`|`2024`|
||`No`|`No`|
|`Teaching`|`43`|`48`|
|`Welfare`|`8`|`7`|
|`Premises`|`5`|`7`|
|`Support`|`25`|`25`|
|`Other activities`|||
||`82`|`87`|



## 

## 



## 

|`13. TANGIBLE FIXED ASSETS`|||||||
|---|---|---|---|---|---|---|
|`Group and charity`|`Freehold`||||||
||`Land &`|`Plant &`|`Furniture &`|`Computer`|||
||`Buildings`<br>`Σ`|`Equipment`<br>`£`|`Fittings`<br>`£`|`Equipment`<br>`£`||`Total`<br>`£`|
|`Cost`|||||||
|`At 1st September 2024`|`5,093,839`|`195,985`|`194,447`|`490,741`||`5,975,012`|
|`Additions`|`45,553`||`6,745`|||`52,298`|
|`Disposals`|||||||
|`Adjustment for VAT`|`(175,360)`|||||`(175,360)`|
|`At 318t  August 2025`|`4,964,032`|`195,985`|`201,192`|`490,741`||`5,851,950`|
|`Depreciation`|||||||
|`At 1st September 2024`|`1,580,956`|`178,224`|`194.447`|`481,450`||`2,435,077`|
|`Charge for the year`|`187.383`|`6,379`|`562`||`9,291`|`203.615`|
|`Disposals`|||||||
|`Adjustment for VAT`|`(37,084)`|||||`(37,084)`|
|`At 31st August 2025`|`1,731,255`|`184,603`|`195,009`|`490,741`||`2,601,608`|
|`Net book value at 31st August`|||||||
|`2025`|`3,232,777`|`11,382`|`6,183`|||`3,250,342`|
|`Net book value at 31st August 2024`|`3,512,883`|`17,761`|`- `|`-`|`9,291`|`3,539,935`|





## 

## 

## 

||`Investments`|`Investments`|
|---|---|---|
||`2025`|`2024`|
||`£`|`£`|
|`Group investments`|||
|`At 1 September`|`6,021,386`|`3,309,185`|
|`New money invested`||`2,240,000`|
|`Amounts extracted`|`(10,000)`||
|`Unrealised gains/(losses) on`|`(180,403)`|`472,201`|
|`investments`|||
|`Group investments at 31 August`|`5,830,983`|`6,021,386`|
|`Investments comprise:`|||
|`Listed investments`|||
|`Equities`|`5,830,983`|`6,021,386`|
|`Group investments at 31 August`|`5,830,983`|`6,021,386`|
||`Investments`||
||`2025`|`2024`|
||`ε`|`£`|
|`Charity investments`|||
|`At 1 September`|`2,775,533`|`3,309,185`|
|`New money invested`||`2,240,000`|
|`Amounts extracted`||`(3,000,000)`|
|`Unrealised gains/(losses) on`|`(81,929)`|`226,348`|
|`investments`|||
|`Listed investments at 31 August`|`2,693,604`|`2,775,533`|
|`Investment in subsidiaries`|`2`|`2`|
|`Charity investments at 31 August`|`2,693,606`|`2,775,535`|
|`Investments comprise:`|||
|`Listed investments`|||
|`Equities`|`2,693,604`|`2,775,533`|
||`2,693,604`|`2,775,533`|
|`Investment in subsidiaries`|`2`|`2`|
|`Charity investments at 31 August`|`2,693,606`|`2,775,535`|





## 

## 

## 

## 

|`Investments which are valued atmore than 5% of the value o`|`f the portfolio are:`||
|---|---|---|
||`2025`|`2024`|
||`ε`|`£`|
|`The CBF Church of England Investment Fund Inc`|`5,797,095`|`5,988,905`|



|`DEBTORS`|||||
|---|---|---|---|---|
||`Group`||`Charity`||
||`2025`|`2024`|`2025`|`2024`|
||`ε`|`ε`|`£`|`£`|
|`School fees receivable`|`1,005,142`|`1,026,864`|`1,005,142`|`1,026,864`|
|`Trade debtors`|`20,996`|`957`|||
|`Other debtors`|`107`||`107`||
|`Prepayments and accrued income`|`202,364`|`150,617`|`202,209`|`150,617`|
|`Amounts due from subsidiary`|||`57,899`|`25,760`|
|`company`|||||
|`Amounts due from ultimate parent`|`178`||`178`||
|`company`|||||
||`1,228,787`|`1,178,438`|`1,265,535`|`1,203,241`|





## 

## 

|`CREDITORS: amounts falling due w`|`thin one ye`|`ar`|||
|---|---|---|---|---|
||`Group`||`Charity`||
||`2025`|`2024`|`2025`|`2024`|
|||`£`|`ε`||
|`Bank loan`|||||
|`Deposits from parents`|`151,544`|`128,751`|`151,544`|`128,751`|
|`Fees received from parents in`|`1,116,223`|`1,020,806`|`1,116,223`|`1,020,806`|
|`advance of term`|||||
|`Trade creditors`|`266.437`|`223.096`|`265,239`|`222,123`|
|`Taxation and social security`|`70,420`|`56,117`|`70,420`|`54,792`|
|`VAT`|`259,840`||`259,840`||
|`Other creditors`|`6,783`|`21,841`|`6.784`|`21,841`|
|`Pension creditor`|`56,109`|`38.357`|`56,109`|`38.357`|
|`Fees in Advance Scheme (note 18)`|`398,067`|`557,867`|`398,067`|`557,867`|
|`Accruals`|`58.986`|`82.404`|`54,311`|`73.629`|
|`Deferred income`|`74,575`|`51,369`|`74,575`|`46,573`|
|`Amounts due to subsidiary`|||`2`|`2`|
|`company`|||||
||`2,458,984`|`2,180,608`|`2,453,114`|`2,164,741`|
|`Summary of movements indeferred `|`income`|||`£`|
|`Balance at 1 September 2024`||||`51.369`|
|`Amounts arising in the year`||||`74.575`|
|`Amounts transferred to SOFA`||||`(51,369)`|
|`Balance at 31 August 2025`||||`74,575`|





## 

## 

|`17. CREDITORS: amounts falling due after one year`|`17. CREDITORS: amounts falling due after one year`||||
|---|---|---|---|---|
||`Group`||`Charity`||
||`2025`|`2024`|`2025`|`2024`|
||`£`|`£`|`£`|`3`|
|`Fees in Advance Scheme (note 18)`|`248,556`|`639,344`|`248,556`|`639,344`|
||`248,556`|`639,344`|`248,556`|`639.344`|



## 

|`Parents and others may enter into a contract to pay for `|`fixed contributions towards pupil tuition fees`|`fixed contributions towards pupil tuition fees`|
|---|---|---|
|`for a number of years in advance. The money may be returned subject to specific conditions on the`|||
|`receipt of notice. Assuming pupils remain in the school, fees in advance will be applied as follows:`|||
||`2025`|`2024`|
||`£`||
|`Within 2 to 5 years`|`76,383`|`274,172`|
|`Within 1 to 2 years`|`172,173`|`365,172`|
|`Due after more than one year`|`248,556`|`639,344`|
|`Within 1 year`|`398,067`|`557,867`|
||`646,623`|`1,197,211`|
|`Summary of movements in liability`||`£`|
|`Balance at 1 September 2024`||`1,197,211`|
|`Amounts transferred to SOFA`||`(550,588)`|
|`New contracts`|||
|`Balance at 31 August 2025`||`646,623`|



## 

|`The future, minimum commitments under non-`|`cancellable operating leases are:`||
|---|---|---|
||`Other`||
||`2025`|`2024`|
||`Σ`|`ε`|
|`Within 1 year`|`12,454`||
|`Within 1 to 5 years`|`171,054`||
|`After 5 years`|||
||`183,508`||





## 

## 

|`20. FINANCIAL INSTRUMENTS`|||
|---|---|---|
||`2025`|`2024`|
|||`£`|
|`FINANCIAL ASSETS:`|||
|`Debt instruments at amortised cost`|||
|`Trade debtors`|`20,996`|`957`|
|`Other debtors`|`1,005,320`|`1,026,864`|
|`Accrued income`|`5,180`||
|`Bank and cash`|`1,351,967`|`1,582,713`|
||`2,383,463`|`2,610,534`|
|`FV through P&L`|||
|`Investments`|`5,830,983`|`6,021,386`|
||`5,830,983`|`6,021,386`|
|`FINANCIAL LIABILITIES:`|||
|`Financial liabilities at amortised cost`|||
|`Trade creditors`|`266,437`|`223,096`|
|`Other creditors`|`336,226`|`293,247`|
|`Accruals`|`58,986`|`77,829`|
|`Borrowings - bank loans`|||
||`661,649`|`594.172`|
|`21. SHARE CAPITAL`|||
||`2025`|`2024`|
||`ε`|`£`|
|`Authorised`|||
|`100 Ordinary Shares of £1 each`|`100`|`100`|
|`Allotted, called up and fully paid`|||
|`100 Ordinary Shares of £1 each`|`100`|`100`|





## 

## 

## 

## 

## 

## 

## 



## 

## 

|`23. ANALYSIS OF NET `|`ASSETS BETWEEN `|`FUNDS`||||
|---|---|---|---|---|---|
|`Group`||||`Total`|`Total`|
||`Unrestricted`|`Restricted`|`Endowed`|`2025`|`2024`|
||`£`|`£`|`£`|`ε`|`£`|
|`Tangible fixed assets`|`3,250,342`|||`3,250,342`|`3,539,935`|
|`Investments`|`3,438,372`|`2,358,722`|`33,889`|`5,830,983`|`6,021,386`|
|`Net current`|`127,611`|`30,125`||`157,736`|`623,676`|
|`(liabilities)/assets`||||||
|`Long term liabilities`|`(248,556)`|||`(248,556)`|`(639,344)`|
||`6,567,769`|`2,388,847`|`33,889`|`8,990,505`|`9,545,653`|
|||||`Total`|`Total`|
||`Unrestricted`|`Restricted`|`Endowed`|`2024`|`2023`|
||`ε`||`£`||`£`|
|`Tangible fixed assets`|`3,539,935`|||`3,539,935`|`3,577,433`|
|`Investments`|`3,556,276`|`2,432,629`|`32,481`|`6,021,386`|`3,309,185`|
|`Net current`<br>`(liabilities)/assets`|`592,454`|`31,222`||`623,676`|`2,320,028`|
|`Long term liabilities`|`(639,344)`|||`(639,344)`|`(73,298)`|
||`7,049,321`|`2,463,851`|`32,481`|`9,545,653`|`9,133,348`|





## 

## 

|`Charity`||||||||`Total`|`Total`||
|---|---|---|---|---|---|---|---|---|---|---|
||`Unrestricted`|||`Restricted`|`Endowed`|||`2025`|`2024`||
|||`£`||`£`||`£`||`£`|`£`||
|`Tangible fixed assets`|`3,250,342`||||||`3,250,342`||`3,539,935`||
|`Investments`||`300,995`||`2,358,722`||`33,889`||`2,693,606`|`2,775,535`||
|`Net current`||`91,341`||`30,125`||||`121,466`|`597,014`||
|`(liabilities)/assets`|||||||||||
|`Long term liabilities`|`(248,556)`|||||||`(248,556)`|`(639,344)`||
||`3,394,122`||`2,388,847`|||`33,889`|`5,816,858`||`6,273,140`||
|||||||||`Total`|`Total`||
||`Unrestricted`||`Restricted`||`Endowed`|||`2024`|`2023`||
|||`£`||`ε`||`£`||`£`|`2`||
|`Tangible fixed assets`|`3,539,935`||||||`3,539,935.`||`3,577,433`||
|`Investments`||`310,425`|`2,432,629`|||`32:481`|`2,775,535`||`3,309,187`||
|`Net current`<br>`(liabilities)/assets`||`565.792`||`31,222`||||`597,014`|`2,320,432`||
|`Long term liabilities`|`(639,344)`|||||||`(639,344)`|`(73,298)`||
||`3,776,808`||`2,463,851`|||`32.481`|`6,273,140`||`9,133,754`||
|`24. SUMMARY OF MOVEMENTS ON FUNDS`|||||||||||
|`Group`|||||||||`At `|`31`|
||`At. 1 Sept`|`Incoming`||`Resources`||||`Gains/`|`August`||
||`2024`|`resources`||`expended`||`Transfers`||`(losses)`|`2025`||
||`ε`||`£`||`Σ`||`£`|`ε`||`£`|
|`Endowed - Permanent`|||||||||||
|`General reserve`|`21,976`||||||||`21,976`||
|`Revaluation`|`10,505`|||||||`1,408`|`11,913`||
|`Total Endowment`|`32,481`|||||||`1,408`|`33,889`||
|`Restricted Funds`|||||||||||
|`Joyce Shaw award`<br>`fund`|`2,455,841`||`66.306`|||`(72,098)`||`(73,907)`|`2,376,142`||
|`Funds under £10,000`|`8,010`||`4,695`||||||`12,705`||
||`2,463,851`||`71,001`|||`(72,098)`||`(73,907)`|`2,388,847`||
|`Unrestricted Funds`|||||||||||
|`General  Reserve`|`7,049,321`|`4,489,194`||`(4,934,940)`||`72,098`||`(107,904)`|`6,567,769`||
||`7,049,321`|`4,489,194`||`(4,934,940)`||`72,098`||`(1.07,904)`|`6,567,769`||
|`Total Funds`|`9,545,653`|`4,560,195`||`(4,934,940)`||||`(180,403)`|`8,990,505`||





## 

## 

## 

|`Charity`|||||||
|---|---|---|---|---|---|---|
|||||||`At 31`|
||`At 1 Sept`|`Incoming`|`Resources`||`Gains/`|`August`|
||`2024`|`resources`|`expended`|`Transfers`|`(losses)`|`2025`|
||`£`||`f`||`£`|`Σ`|
|`Endowed - Permanent`|||||||
|`General reserve`|`21,976`|||||`21,976`|
|`Revaluation`|`10,505`||||`1,408`|`11,913`|
|||`_  _`|||||
|`Total Endowment`|`32,481`||||`1,408`|`33,889`|
|`Restricted Funds`|||||||
|`Joyce Shaw award`<br>`fund`|`2,455,841`|`66.306`||`(72,098)`|`(73,907)`|`2,376,142`|
|`Funds under £10.000`|`8,010`|`14,695`|`(10,000)`|||`12,705`|
||`2,463,851`|`81,001`|`(10,000)`|`(72,098)`|`(73,907)`|`2,388,847`|
|`Unrestricted Funds`|||||||
|`General Reserve`|`3,776,808`|`4,453,907`|`(4,899,261)`|`72,098`|`(9,430)`|`3,394,122`|
||`3,776,808`|`4,453,907`|`(4,899,261)`|`72,098`|`(9,430)`|`3,394,122`|
|`Total Funds`|`6,273,140`|`4,534,908`|`(4,909,261)`||`(81,929)`|`5,816,858`|





## 

## 

## 

|`Group`||||||`At 31`|
|---|---|---|---|---|---|---|
||`At 1 Sept`|`Incoming`|`Resources`||`Gains/`|`August`|
||`2023`|`resources`|`expended`|`Transfers`|`(losses)`|`2024`|
||||`£`|||`£`|
|`Endowed - Permanent`|||||||
|`General reserve`|`21,976`|||||`21,976`|
|`Revaluation`|`7,659`||||`2,846`|`10,505`|
|`Total Endowment`|`29,635`||||`2,846`|`32,481`|
|`Restricted Funds`|||||||
|`Joyce Shaw award`<br>`fund`|`2.240.000`|`48,851`|`(25,639)`||`192,629`|`2.455,841`|
|`Boarding fund`|`50,000`||`(12,980)`|`(37,020)`|||
|`Funds under £10.000`||`8,010`||||`8,010`|
||`2,290,000`|`56,861`|`(38,619)`|`(37,020)`|`192,629`|`2,463,851`|
|`Unrestricted Funds`|||||||
|`General Reserve`|`6,813,713`|`4,947,045`|`(5,025,183)`|`37,020`|`276,726`|`7,0`**`49`**`,321`|
||`6,813,713`|`4,947,045`|`(5,025,183)`|`37,020`|`276,726`|`7,04`**`9`**<br>`4 ,321`|
|`Total Funds`|`9,133,348`|`5,003,906`|`(5,063,802)`||`472,201`|`9,545,653`|
|`Charity`|||||||
|||||||`At 31`|
||`At 1 Sept`|`Incoming`|`Resources`||`Gains/`|`August`|
||`2023`|`resources`|`expended`|`Transfers`|`(losses)`|`2024`|
||`ε`|`ء`|`Σ`||`ε`||
|`Endowed - Permanent`|||||||
|`General reserve`|`21.976`|||||`21.976`|
|`Revaluation`|`7,659`||||`2,846`|`10,505`|
|`Total Endowment`|`29,635`||||`2,846`|`32,481`|
|`Restricted Funds`|||||||
|`Joyce Shaw award`<br>`fund`|`2,240,000`|`48,851`|`(25,639)`||`192,629`|`2,455,841`|
|`Boarding fund`|`50,000`||`(12,980)`|`(37,020)`|||
|`Funds under £10,000`||`8,010`||||`8,010`|
||`2,290,000`|`56,861`|`(38,619)`|`(37,020)`|`192,629`|`2,463,851`|
|`Unrestricted Funds`|||||||
|`General Reserve`|`6,814,119`|`4,860,803`|`(7,966,007)`|`37,020`|`30,873`|`3,776,808`|
||`6,814,119`|`4,860,803`|`(7,966,007)`|`37,020`|`30,873`|`3,776,808`|
|`Total Funds`|`9,133,754`|`4,917,664`|`(8,004,626)`||`226,348`|`6,273,140`|





## 


## 

## 



## 

## 

## 

||`2025`|`2024`|
|---|---|---|
||`£`|`£`|
|`Net (expenditure)/ income for the period (as per the Statement of`|`(555,158)`|`417,199`|
|`Financial Activities)`|||
|`Adjustments for`|||
|`Depreciation charges`|`166,531`|`201,211`|
|`Losses/ (gains) on investments`|`180,403`|`(472,201)`|
|`Dividends, interest, and rents from investments`|`(207,867)`|`(164,435)`|
|`Financing costs`||`2,185`|
|`Tax paid in subsidiary company`|`(1,315)`|`(3,569)`|
|`Movement in Fees in Advance creditor`|`(550,588)`||
|`Decrease in stocks`|`7,167`|`6.463`|
|`(Increase)/decrease in debtors`|`(50,349)`|`301,408`|
|`Increase/(decrease) in creditors`|`439,501`|`(447,733)`|
|`Net cash provided by (used in) operating activities`|`571,675`|`(159,472)`|
|`29. ANALYSIS OF CASH AND CASH EQUIVALENTS`|||
||`2025`|`2024`|
||`£`|`£`|
|`Cash in hand and at bank`|`662,940`|`438.268`|
|`Notice deposits`|`689,027`|`1,144,445`|
|`Total cash and cash equivalents`|`1,351,967`|`1,582,713`|





## 

## 


||`At 1st Sept`||`At 315t`|
|---|---|---|---|
||`2024`|`Cash flows`|`Aug 2025`|
||`£`|`£`|`£`|
|`Cash and cash equivalents`||||
|`Cash`|`438,268`|`224,672`|`662,940`|
|`Notice deposits`|`1,144,445`|`(455,418)`|`689,027`|
|`Total`|`1,582,713`|`(230,746)`|`1,351,967`|



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|`32. Consolidated Statement of `|`Financial Activities - Comparative `|`Financial Activities - Comparative `|`figures by fund `|`type`|
|---|---|---|---|---|
|`Year Ended 31 August`|`Unrestricted`|`Restricted`|`Endowed`|`Total`|
|`2024`|||||
||`£`|`£`|`£`|`ε`|
|`Income and endowments`|||||
|`from Charitable activities`|||||
|`School fees receivable`|`4,189,661.`|`(25,639)`||`4,164,022.`|
|`Ancillary trading income`|`515,232`|||`515,232.`|
|`Other trading activities`|||||
|`Non-ancillary trading`|`126,568`|||`126,568`|
|`income`|||||
|`Investments`|||||
|`Investment income`|`113.336`|`48,851`||`162,187`|
|`Bank and other interest`|`2,428`|||`2,428`|
|`Voluntary sources`|||||
|`Grants and donations`||`8,010`||`8,010`|
|`Other incoming resources`|||||
|`Total Incoming Resources`|`4,947,045`|`31,222`||`4,978,267`|
|`Expenditure on:`|||||
|`Raising funds`|||||
|`Non ancillary trading`|`51,805`|||`51,805`|
|`Financing costs`|`44,382`|`-`||`44,382`|
|`Total Deductible Costs`|`96.187`|||`96,187`|
|`Charitable activities`|||||
|`Education and grant making`|`4,924,102`|`12,980`||`4,937,082`|
|`Total resources expended`|`5,020,289`|`12,980`||`5,033,269`|
|`Net gains/(losses) on`<br>`investment assets`|`276,726`|`192,629`|`2,846`|`472,201`|
|`Net income before tax`|`203,482`|`-210.871`|`2,846`|`417,199`|
|`Taxation`|`(4,894)`|||`(4,894)`|
|`Net income/(expenditure)`|`198,588`|`210,871`|`2,846`|`412,305`|
|`Transfers between funds`|`37,020`|`(37,020)`|||
|`Other recognised`|||||
|`gains/(losses)`|||||
|`Pension scheme actuarial`|||||
|`gains/(losses)`|||||
|`Net movement in funds`<br>`for the year`|`235.608`|`173,851`|`2.846`|`412,305`|
|`Fund balances at 1st`<br>`September`|`6,813,713`|`2,290,000`|`29,635`|`9,133,348`|
|`Fund Balances at 31st`<br>`August`|`7,049,321`|`2,463,851`|`32,481`|`9,545,653`|





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