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2024-08-31-accounts

Reglstered number.. 04864342 Charlty number.. 1099823 Spring Grove School 2003 {A Company limited by guarantee) Trustees. report and financial statements for the year ended 31 August 2024

Sprlng Grove School 2003 IA company limited by guarantèe) Contents Page Reference and admlnlstratlve details of the company* Its Trustees and advlsors Trust8as' r8port Independent auditor's report on the financlal statements 9-12 statement of flnanclal actlvltles 13 Balance sheet 14 Statement of cash flows 15 Notes to the flnanclal statements 16-29

Sprlng Grove School 2003 (A company Ilmited by guarantee) Reference and admlnlstratlve dotails of the Company. Its Trustees and advisers forthe year ended 31 August 2024 Truste8S D Sweetland, Chair Ireslgned 31 August 2024) S Burwell C Harding {resigned 27 Saptembèr 2024) TLee A Marlin, Chair {appoinled as Chair on 1 September 20241 A Mcculloch M Murray J Thomas D Uralld G Welhered Company reglstèred number 04864342 Charlty register8d number 1099823 Registered offlce Harville Road Wye Ashf{￿d Kent TN25 SEZ Company seGrotary G Wethered Senlor leadershlp team T Jaggard, Head V Jonas, Bursar Independent audltor Kreslon Reeves LLP Chartered Accountants Slalulory Auditor Monlague Plac Quayslde Chatham Maritime Chatham Kent ME4 4QU Page I

Sprlng Grove School 2003 {A company limlted by guarantee) Trustees. report for the year ended 31 August 2024 The Trustees present their annual report together with Ihe aL￿lled financial slalements of Spring Grove School 2003 Ilhe Company) for the year ended 31 August 2024. The annual report serves the purposes of both TrLJslees' Report and 8 Directors, Report under company law. The Trustees confirm that the annual report 2nd financial statomenls of the charllable company comply with the current statutory requiremenls, the requirements of the Company's goveming document arkd the provisions of the Slalement of Recommended Practice ISORPI applicable to chaiities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeclive 1 January 20191. Since the Company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies tjnder the Companies Act 2006 Istralegic Report and Direclars. R6POrt) R8gul8tlons 2013 has been omilled. Alms and Oblectlves The princlpal objective, as set out in the Memorandum of Association, is to educate the school's pupils (between tho agos of 2 and 111 lo a hlgh 81andard and to provide a wide rarwe of extracurricular aclivilies. The objective is not to oxpand In slze. as in a conventional business. but lo maintain a flexibly-driven cosl-efficienl operation, uslng funds as avallable lo enhance the educallon provision, maintain the infvaslructure of the school and al the samo Ilme to 88118fy the strategy on bursary provlslon havlng glven due conslderalion to meeting publiG benefit guidance. The school is commilled lo developing all the children who loin Sprlng Grovo to their full potential, academically, socially. physically and emotionally in a supportive, caring and frlendly community. Within a beautiful rLtral setting the school is small enough for the staff lo know every child and their famlly and en¢ourage them lo support the school mollo of"Always Do YoLtr B881'. The slated aims of Ihe school are.. To allow all of our children lo love leaming and enjoy living To develop can-do, résourceful and curious chlldren To ensure all of our chlldron und6r81and tho valuos ol klndnoss and respect To nurture communily.mlnded. publicrysplrfled global cllizens To cullivale an appelile for adventure and a lolercince for error To live out the schwl mollo.. 'Always Do Your Best, These alms are closely aligned wlth the flve school values: Curloslty, Confldence. Crealivlty, Consideralionlcare and Craftsmanshlp. We conllnue lo embed our values as a whole school so we are acllvely li￿ng them out. W8 b81iev8 Ihal inculcallng our pupils wilh our simp18 golden rules provldes a flrm foundallon upon which to build a good Ilfe. "Look after your neighbour. and "Show common sense al all Ilmes. both demar￿ a consideration for others in &veryday life al school and have a direct link with the British values of.. Democracy Rule of law Indivldual Ilberty Mutual respect Tolerance of those who hold different faiths or beliefs Page 2

Sprlng Grove School 2003 {A company Ilmlted by guarantee) Trustees, report {contlnued) for thg year ended 31 August 2024 Key objectives for the year includ8d'. To shapa maslery pedagogy within phonics, writing, and m21hemalics lo strengthen leachlng and learning oulcomos To review and reflne how and when progress and a¢hievem8nls are reported lo parents To further develop and sequence Ihe leaching of foundation subjects lo ensure coherence and progression To revlew the leaching of spelling aoross Ihe sGhool and implement the Edshed Èchem6 to support consislenl spelling improvement To continue lo enhance pastoral and SEN care, with a focus orh improving behaviour management slrategles for SEN puplls To build on the development of Jigsaw, the PSHE programme, lo further embed and improve delivery To enhance Qualily Assurall￿ procèsses, Includlng lesson monitoring. endorsement of teacher 2ssessmenls, and largeled small group inlervenllons To reviaw and furiher develop Gonlinuous provislon In EYFS and Year 1 to strengthen early learning experiences To conllnue the slralegic use of data lo supporl lèachlng and learning and provide CPD opportunllies relalod lo CAT Tests To incorpor8la problem-solving and Invesllgallve acllvlllos lo dovolop children's fluency, reasonlng, and expeflise in théir learning, and encourage crltlc81 Ihlnking Ihrough high-order questions such as. Can you provo it?" Why?" and "Can you explain how?" To launch the use of YOUHQ to monitor pupil wellbeing To ensure a smoolh Iranslllon in the Nursery with the appointment of a new Head of Early Years To launch a new 50-week provislon in the Nursery, providing holiday care for working parents To complete a review of school unlform to provlde parenls with besl value for money and qualily To launch a new school website Revlew of Aetlvltles and Achlevéménts Pupll numbers were on largel in September 2023, with 166 children the school, and 55 in (he Nursery. The success of tho school's Prep 6 pupils in the Kent {11 +1 Test is reflected In Ihe leav8rs' destinations for July 2024.. 16 children went to local grammar schools, 5 ¢hildren continued lo independent schools, 6 went to non-grammar slate schools and 1 relocated lo France. 2 chlldren achieved scholarship awards to Independenl schools for academiG ability and music. We were delighted and proud that a pupil in Prep 6 was Key Stage 2 National Winner in the Independenl School Mathematician of the Year 2023 competition (result announced in January 20241. Spring Grove's Nurswy once agaln atthieved a serios of posilive reviews on tha influential DayNurseries website wllh a 9.4110 ranking on Ihe webslte page. Spring Grove continues to fly the Eco Schools Green Flag (re-awarded in August 20241 and to improve ils eco credenllals. In January 2024, the School was awardod Artsmark Gold by the Arts Council of England In recognition of th6 school's excellent creative and performlng arts provision. The Arlsmark assessment found that 'Spring Grove School has developed a rlch arts curAculum and provides a stimulating variety ol opportunities for chlldren lo learn In and through the arts as parl of ils regular routinos and limelab5es as well as one-off sp8cial projects. Public Beneflt and Communlty Involvement The Trustees confiim that they have complled with the duly In secllon 4 of th8 Charllies Act 2006 to have due regard lo the public b6nefil guidance published by the Charily Commlsslon in d&l6rmlnlng the activities undertaken by the charllable compar)y 8nd In particular to Ils supplamentary guldance on advancing educallon and on fee-charglng. The Memoranclum stales th81 lh8 income arK5 properly of the Company can only be appliod loward th8 promotion of thé oblecls of the Company. No profit can be paid out lo members. Goverrnors are appolnled on th8 condition that they receive no remunerallon or other benefit in kind from the Company. However, the Company is enlilled to pay a reasonabl8 rate of interest on money lent by members of the Company. Page 3

Sprlng Grove School 2003 IA company Ilmlted by guarantee) Trustees. report Icontlnued} for the year ended 31 August 2024 The Memorandum allows the Company lo carry out any building works or malntenance of the sGhool properly where nec8ssary to promolg the charilsls objects. Bursaries can be created and adminlslarad. Appeals ean be organised and donations rec8ived as long as the Company does not undertake permanent trading actimlles In raising funds, other than for its primary charitable objects. In selling objectives and planning for activities. the Trustees have given du6 conslderalion to general guidanGe published by tho Charity Commission relating lo public benefit. including the guldancè 'Publi¢ benefil.- running a charity {P821'. Spring Grove is pgrt of the wlder communlty of Wye and has close links with organlsatlons such as Wye Church, Wye Parish Council and Brambles Car& Home. Thg Reception, Year l and Yoar 2 children make regular visits to the Brambles Care Home lo lake part in activities with the residents. The School's weokly lorm-time new8leller Ilhe Messenger) is used by a wide range of local businesses for advertI￿ng. Olher acllvitles with local business involvement in¢ludo tho annual Christmas Fayre lorganised by the school's PTAI. and tho communily Bonflre Night in November. The School choir also takes part in the annual Princess of Walas's Royal Regiment Carol Se*vi¢e in Canterbury Cathedral, alongside Wickhambreaux Primary School. Spring Grove believes that giving lo charity should be a positive experience, and lo help ensure that Ihls is the case we acknO￿edge the damaging imp8¢t an excessively aggressive approach lo fundraising can have on vulnerable people, whether from unreasonably persistent approaches being madè or undue pressure lo g5 being applied, and great cara is undertaken to 8nsur8 that such praclices ar8 not adopted by tha School. The School is proactive in supporting pupils, staff and parents in individual or group fundraising efforts held out of school - for example the Flolding Little Hands charity which is run by a parent. the Aspire Channel Swim undertaken by a Member of staff, and the Edward Showl8r Foundation. Harvest donations were delivered to the Food Bank in Ashford in the Autumn term, as well as a poppy appeal in school for donations to Ihe Royal Brlllgh Legion. Many fundraising efforts within school are entirely pupil-led, for example a Christmas calendar put together and sold to raise money for Porchlighl. A school-wide Ihemed w&8k held In the Summer term raise money for Breast Cancer Now. Overall fund-raising and collections within the school have benefited the following charities and organisalion8 over the course of the year.. Children in Need, Place2Be, Jeans for Genes, Porchlight, Royal British Legion, Save the Chlldren. Wye Church, RNIB. Breast Cancer Now, Ashford Food Bank and Comic Relief. The charity does not ulilise the services of any external commercial fundraisa¢s. Given that the fundraising aclivllles mentioned are for the benefit of other charities, the trustees do not consider il n@cessary10 8ubscribe to a Fundr8lsing Regulator. Th8 charity welcomes fe8dback on ils fundraising approach and seeks lo make improvements wherever il can. Any complaints received In respect of our fundraising aclivilies are taken very seriously and are acted us)on Imm￿lately. We are pleased lo report Ihal during Ihe year no complaints were re￿iVed in respect of our fundralsing aclivily. Spring Grove's Forest School ar￿ th6 pupil-led Eco Council remain importarht aspects of life al school. The Eco Council encouraged partlcipation in th8 RSPB'S Great Birdwatch, as well as continuing to work on th8 school's eco garden. Pupils regulady tak8 part In Iltter picks on local beaches during the Summer term, as part of their Beach School. Sport plays a large part Sn Ilfe for the chlldren al Spring Grove. The school holds annual cross eounlry, football, alhlelics and fun run events to which puplls from kncal primary schools are invited. Spring Grove offers transport lo those events for schools Ihal do not have Ihelr own mlnibuses. The school encourages participation in local sports clubs in Ashford. Canterbury and elstswhere. and ￿lebrateS pupils, out of school aohievemenls in a wide Variety of sports. The school conlinues lo look at ways In which il can ext8nd Its outreach into the local community, in order to fulfil ils obligations as a Charity. Page 4

Sprlng Grove School 2003 (A company limited by guarantee) Trustees. report {¢ontiNuedl forthe year ended 31 August 2024 Bursary Awards Mèans lesled bursary awards ar8 genor211y made in respect of pupils who are new to the school from Year 3 pwards, allhough existing pupils whose paranls become unable to pay their fe8s are also ellglble for hardship bursaries. Bursaries are reviewed annually to lake Into account changes in circumstance. During the year, the school contlnued lo provide support lo our puplls already in rec6ipt of fe8 assistance through bursaries. As part of our emphasls on allractlng and rotalning high calibre staff, we offèr a discount scheme where staff m8mbers choose to educate Ihe5r chlldren 81 our school. Safeguardlng and Child Protèctlon The school lakes Ils responsibililies for safegu8rdlng chlldren very seriously. Designated SafèguardSng L6ads IDSL) are in place and are up lo dale wllh required training. A governor, who has speciflc responslblllly for sal8guarding mallers. meets with th8 DSL annually for 8 full ieview. All related instances are reported lo the Safeguarding Governor as soon as they arise. All staff are briefed regularly on Ihe importance of being aware of child proleclion Issues. Flnancial Review The results for the year and Ihe financial position of the Charity are as shown In the allached financial sl8lemenls. Fee Income al the school tolalled £2.365k (2023.. £2,252k) wilh 166 {2023.. 1651 puplls enrolled in the Main School {Receplion-Year 6) in summer 2024. With control of ¢osls, Sprlng Grove remained In Ilne wllh budgeted figures lo enable ¢onlinued investment back into the school. Early Years remained strong with 60 (2023: 66) ohilcgren enrolled In th8 Nursery during summer 2024. EBITDA (Earnlngs before Inlpresl, Depreclatlon and Amortisalionl was £222k 12023= £227kl- The School continues to Invest the surplu8 in staff development and Iralning. curriculum resoUr￿s, and maintenance of and enhanceménts to the groLtnds and buildings. Durtng 2023-2024, the followlng work was completed in the school-. Completion of the work requirèd lo extend the maln car park. improving the parking provlslon for parents Upgrade of the surfacing in front of the Main School, lo provide a second netball Iralning Arèa Inslallalion of a n8w front door and surrounding frame, and palnlinglrepair of lh8 woodwoKk at the front of the Main School building In addition, following fundraising by the PTA, new play equlpmenl was inslalled in the Key Stage 1 garden, and an auto4oser lo th8 swimming pool, slgnilicanlly reduclng the amount of lime the pool is out of action. a. Golng concern Aftèr making appropriate ellquiries, the Trustees have a reasonable expectation that the oompany has adequate résources lo Continue in operational 8xltslence lor the foreseeable fulure. For this r6ason they continue lo adopt the going concern basis in preparing the financial slalemenls. Further details regarding the adoption of the goin oncorn basis can be found in the Accounting Policies. Management accounts are produced monthly by Ihe Bursar and revlewed together with pupil numbgrs and cash collectlons by th6 Finance and General Purpose IF&GPI Commlllee, who meet at least tWi¢é Par term. Page 5

Sprlng Grove School 2003 IA company limited by guarantee) Trustees. report (eontinuedl for thè year èndéd 31 August 2024 b. Reserves pollcy 11 is the policy of the Board that 11 should aim to have general funds 818 level equivalent lo belween six and twelve months. expenditure. The Board's view is that general funds al this level provide sufficient headroom to enable the charily lo continue operating in the event of a sudden fall in income. General funds represenl all of the charity's assets excluding the Revaluation Reserve. Al 31 August 2024, the chari15ls general funds amounted to £1,908,560 which equates lo 18n months. expenditure 12023 - £1,739.270 equating to 9.3 months, expondllure) based on expenditure 16vels for tha respective years. Therefore, general funds at 31 August 2024 are in Ilne wllh the reserves policy. Tha level of reserves are monitored Ihroughoul the year as part of th8 normal monitoring arHI budgetary reporting process. The Rev8lu8lion Reserve Is unreslricled and represents the increase In value of the lanqible fixed assets of the charity. This policy of revaluallon serves lo reflect a satisfactory Loan lo Value ratio on the Secured Debt of the charity. Debt collection remains a top prtority and Is monitored by the F&GP Commi116e. c. Valuation and bank covenants Valuation of tho grounds and buildlngs was undertaken in June 2018 with a freehold value of £2.26m and an open mafkel value of £2.7m. Other assets are not material. This valuation confirms that the school remains comfortably within ils covenants for the Bank Loan charged againsl ils Freehold assets. Under the terms of the bank loan, the loan shall not at any lime exceed 700A of the property value. Structure, Governance and Managemenl a. Constitutlon The Gompany is registered as a charitable company Ilmlled by guarantee Iregislered charity number fO998231 and was sel up by a Memorandum of Association on 12 August 2003. The Memorandum & Articles of AssoGialion have been amended sinc6 conslilulion., the latest amendment was on 11 February 2016. The principal object of tho company is lo prowde educatlon lo chlldren between the ages of 2 and 11. b, Method of aRpolntment or el8ctlon of trusteès The management of the Company is tho responslblllty of the Trusteès who are elected and co-opted under the terms of the Articles of Assooialion. The Arlicles of Association of the Company stal8 that a Iruslee or govemor is also deemed lo be a director of the Company. There can be a minimum of three and a maximum of 12 governors, unless otherwise determined by a General Meeting. As al 31 Augvsl 2024 Ih8re were 10 governors on the CoMpan￿S board. Governors are appointed wlh the unanimous agreement of silting gov&rnors 8nd such appointments are reported in the board minutes. At each Annual General Meeting, one third of governors are rÈqulred to retire from office. whereby a rgsolullon can be made for reappoinlmenl of other persons In Ihelr place. P2ge 6

Sprlng Grov8 School 2003 IA company Ilmlted by guarantee) Trustees. report (contlnuedl forthe yearended 31 August 2024 Organlsational structure and d&clslon maklng The Board of Governors is responsible for the overall management and control of the school and meets al least threa limas a year. The school currently has the following commillees, all of which meet al least once a term, unless olherwse indicated in the terms of reference.. Full Governing Body- Working groups- Strategy & Development. Nominations and Marketing Educallon Commille8 {Academic and Curriculum) Financè & Goneral Pu¥pos8 IFG&P)- Working group- Remuneration Compllanca & Risk- Working groups.. Safeguarding and Pastoral, Eslales and Health & Safety The work of mor)iloring financial perfomiance is carried out by the members of the FG&P Commillge, where the audited accounts are revlewed prior to belng approved by the Governors. The F&GP Committee meets al least six limes per year. Management accounts are reviewed al each FG&P meeting to check aclualMore¢asl income and expendilure against both the budget and last y8arfs equivalent figures. Key performance indicators IKPIS) 8r6 used lo monitor trends and act as an early Indlcalor of potential problems. The F&GP commillee monitors pupil numbers, pupil teacher rallos, teacher staff costs per pupil. fe& concessions, cost ratios, le8 increases, capital 6xpendilure, deblors, surpluses and reserves. The R8munuralion Commillee meets once a year lo revlaw the performance of the Head. Burssr and senior slaff, and mako rvcommendalions to the Governlng Body on the lev81 of remuneration for the next academic year. The day lo day runnlng of the school is delegated lo the Head, supported by a Senior Leadership Team of senior teachers, Bursar and Head of Marketing & Admissions. The Head undertakes the key leadership role overseelng educational, pastoral and adminislr81iv6 funclioris, in consullalion with the senior staff. The day to day admlnislralion of the school is und8rtaken within the policies and procedures approved by the Governors, whlch provide for non-budgeled expenditure decisions ¥nd major capilal projects lo be referred lo the Governors for prior approval. The Head oversees the recrultmenl of all staff., the Bursar oversees management of adminislralive and non-leaching support staff. d. Policies adopted for the induGtlon and tralning of trustees Induction of now trustees includ8s a review of the CharÉly Commlsslon Handbook CC3 Yhe essential Iruslee.. what you naod lo know, what you r188d lo do the school's Articles & Memorandum of Association, recent Gove¥nlng Body mlnulos. Safeguarding & Child protecllon training and safeguarding obligations. The School Is 8 member of AGBIS (Association of Governing Bodies of Independent Schools) lo further the knowledge and training of the Board of Governors. Rlsk management The Trustees have assessed the major risks lo which th8 Company Is èxposed, In partlcular Ihoso ré121ed lo the operations and finances of the Company, and ara satislied that systems and proo8durgs are in pl4c8 lo mitigate our oxposure to Ihe major risks. Speclflc risks identified.. Risk Financial insecurities,. a fall in pupil numbers, particularly reflecting the requlrgmenl payment of VAT on school fees from l January 2025 Miti atin strate ies Continue to f￿u$ on markellng and retention of piipils, along wllh provldlng flnanclal 8UPPOrt Io families unable lo pay full f@es. Commllmenl to keep fees as affordable as possible. wllh cosls kept under carefijl revlew. M8lnlaln a strong financial position and reserves lo rovlde headroom Review of management accounts, including costs and KPIS with Governors al F&GP Meelin Strong Home Learning provision. Robusl Conlingency in lace Page 7 Inflationary pressures,. loss of business rale relief,. oor financial mana emenl and re ortin Loss of revenue through forced closure or partial closure ol the school

Spring Grove School 2003 IA company limited by guarantee) Trustaes. r8port {continuedl for the yèar ended 31 August 2024 statement of trustees. rèsponslbllltles Th8 Trus18es (who ara also direotors of Spring Grove School 2003 for the purposes of company lawl ara responsible for preparing the Trustees, report and the financi81 statements in accordance with applicÉblÈ12w and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice)- Company law requires the Trusloes to prepare financial slalemenls for each financial year. Under Company law the Trustees musl not approve the financial slal&m&nls unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable compAny 5Jnd of tha Incoming resDur¢es and application of resources, including the income And expenditure, of the charitab16 company for that period. In preparino thesè finarbcial slalemenls, the Trustees are required lo.. select suitabl8 accounting policies and then apply them consistently- observe the methods 2nd principles In Ihe Charities SORP IFRS 102)., make jiidgmenls and accounting eslimale8 th81 are rèasonable and prudenl., stale whether applicable UK Accounting Standards {FRS 1021 hava bèen followed, subject to any material departures disclosed and explained in the financial slaloments. prepare the linancial slalements on the going concern basls unless 11 is inapproprlate lo presume that the company will continue in operation. The Trustees are responsible for keeping adequale accounlir)g records that are sufficlenl lo show atKI explaln the charitable compan¥s transactions and disclose wilh reasonable accuracy al any lime the financial position of the charitable company and ellable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the asselb ol Ihe Ghari18ble company and h&nce for tsking reasonable steps for Ihe prevention and deleclion of Iraud and other irregularilleb. Disclosurè of information to auditor Each of tho persons who are Trust8es at the lime when Ihis Trustees, report is approvad has confirmod Ihal.. so far as Ihal Tyustee is aware. there is no relevant audit information of which the Gharilable oompanys auditor is unaware. and that Trustee has taken all the steps Ihal ought lo have been laken as a Trustee in order lo be aware of any relevant audil information and lo establish Ihal the charity's auditor is aware of Ihal information. Audltor The audilor, Kreston Reeves LLP, has indicalod its willingness lo contlnue in office. The deslgnaled TrnJ8tees WEII propose a molion reappointing the auditor at a meeting of the Trustees. In preparing this report, the Trustees have taken advantage of the small companies exemptlons provided by secl n 415A of the Companies Acl 2006. App ved by order of the rriembers of the board of Trusloes and signed on their beh81f by.. rtin Date.. 17 March 2025 Page 8

Spring Grove School 2003 (A company limited by guarantee)

Independent auditor's report to the Members of Spring Grove School 2003

Opinion

We have audited the financial statements of Spring Grove School 2003 (the 'charitable company') for the year ended 31 August 2024 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:

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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.

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Spring Grove School 2003 (A company limited by guarantee)

Independent auditor's report to the Members of Spring Grove School 2003 (continued)

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.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

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

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the 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 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 Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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Spring Grove School 2003 (A company limited by guarantee)

Independent auditor's report to the Members of Spring Grove School 2003 (continued)

Auditor's 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.

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:

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the Charity and sector as a whole, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, ISI inspections, safeguarding, GDPR and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) Second Edition (released October 2019), the Companies Act 2006 and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees' management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure. Audit procedures performed by the engagement team included:

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

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Spring Grove School 2003 (A company limited by guarantee)

Independent auditor's report to the Members of Spring Grove School 2003 (continued)

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

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

Lucy Hammond BSc, FCA (Senior statutory auditor)

for and on behalf of Kreston Reeves LLP

Chartered Accountants Statutory Auditor Chatham Maritime

Date: 20 March 2025

Page 12

Spring Grov6 School 2003 IA company limited by guaranteè) Statement of flnanclal actlvities (Incorporatlng Income and expendlture account) for the year ended 31 August 2024 Unr&strlct8d funds 2024 Total funds 2024 Total funds 2023 Note Income from.. Donations and grants Charitable 8clivllies Investments 5,579 2.514.188 11,557 5,579 2,514,188 11,557 6,328 2.397,237 1,957 Total incomè 2,531,324 2,531,324 2,405,522 Exp&ndllura on: Charitable activities 2,362,034 2,362,034 2,240,514 Total expenditurè 2,362,034 2,362.034 2,240,514 Nat movemént In funds 169,290 169,290 165.008 Reconclllation of funds: Total funds brought lorward Net rnovgmenl in funds 15 2,491,098 169,290 2.491,098 169,290 2,326,090 165,008 Total funds carrlad forward 15 2,660,388 2,660,388 2,491,098 The Statement ol flnanclal aclivilles includes all gains and losse$ recognlsed in the year. The notes on pages 16 10 29 form part of Ihese financial slalemenls. Page 13

Sprlng Grove School 2003 IA company limited by guarantee) Registered number: 04864342 Balance sheet as at 31 August 2024 2024 2023 Note Fix8d assets Tanglbl6 asse18 Current assats 10 3,490,112 3,449,791 Debtors Cash al bank and in hand 11 76,877 1,004,709 78,221 515.876 1.081,586 594,097 Creditors.. amounts falllng due wSlhin one yL)ar 12 1711,3411 {528.492) Net current a88et8 370,245 65,605 Total assets less currènt Ilabllltles 3,860.357 3,515,396 Creditors.. amour)Is falling due atier more than one year 13 {1,199.969 (1,024,298) Total net assals 2,660,388 2,491,098 Charity funds Unrestricted f￿ndS Revaluallon reserve 15 1,908,560 751,828 1,739,270 751,828 Total unreslrlcted funds 15 2.660.388 2.491.098 Total funds 2.660,388 2,491.098 The Trustees acknow16dg6 Ihelr rosponslbllllles for complying with the requirements of the Act with respect to accounting records and proparallon of financial slalemenis. The financial stalemenls have been prepared in accordance with th8 provlslons appllcable lo enlilies Sltbject to Ih6s all compani6s regim6. The nancial slalemenls were approved and aulhorised for issue by the Tnjslees and 8ign8d on their behalf by= rtln Chair Date.. 17 March 2025 The notes on pages 16 10 29 form part of these finane4al slalements. Page 14

Sprlng Grove School 2003 (A campany limltad by guarantee) statement of cash flows fortho year ended 31 August 2024 2024 2023 Note Cash flows from operating actlvitles Nel cash generated by operating aclivilies 17 630,389 101,180 Cash flows from investing actlvitles Divtdends. Interests and rents from invaslments Purchase of tangible flxed assals 11,557 1,957 177.556) (300,6201 Net cash used In Invastlng activities 165,999) (298.6631 Cash flows from finanGing activltles Interest pald Repayments of borrovAng {699) 174,858) (76,9491 Net cash used In flnanclng activities 175,557) (76.9491 Change in cash and ¢ash equlvalents In the year Cash and cash equivalents al the beglnning of the year 488,833 (274,432) 790,308 515,876 Cash and cash oqulvalents at the end of the year 18 1,004,709 515,876 The notes on pages 16 10 29 form part of these financial stalemenlg Page 15

Sprlng Grove School 2003 (A company limlted by guarantee) Note5 to the financial statements for the year ended 31 August 2024 General information Spring Grove School 2003 is a company limited by guar8nt66 regisler8d In England and Wales. The registered offlce Is Harvllle Road, Wye, Ashford, K8nt, TN25 5EZ. The principal aclivily of the corllpany is lo provlde educatlon lo chSldren betwaen the ages of 2 and 11. The financlal slalemenls are presented In s18rling and rounded lo the nearest £1. A summary of th6 principal accounting policies adopted (which have been applied consistently, except wh6rg notod), ludgemenis and key sources of esllmallon uncertalnly, Is set out below. A¢countlng pollcles 2.1 Basis of preparation of financial statements The fir¢ancial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities-. Statement of Recommended PraGlibe applicable lo chcirllles preparing their a¢¢ounls in accordance with the Financial Reporiing Standard applicable In the UK and Republic of Ireland (FRS 1021 {effe¢live 1 January 20191 and the Compar)i¢s Act 2006. Spring Grove School 2003 meets Ihe definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant ac¢ounting poli¢y. 2.2 Company status The company Is a company limited by guarantee. The members of the Company are the Trustees named on pagé 1. In the event of the company being wound up, Ihe liability in respect of the guarantee is limited to £1 per membar of the company. 2.3 Fund accountlng General funds are unrestricted funds which are availab5e for use al the discrètion of the Trustees In furtherance of Ihe gener21 objectives of the company and which have not been designaled for other purposes. 2.4 Golng concern The Trustees assess whether the use of going Con￿rn is appropriale l.e. whether there are any material uncertainlies related to events or conditions that may cast significant doubl on the abillty of the company lo continue as a going concern. The Trustees make this assessmenl in respect of a period of at least one year from the dale of aulhorisalion for issue of the financlal statements and have concluded that the company has adequate resources lo conlinue in operational existenc& for the foreseeable fLtlure and there are no material uncertainties about the companys ability lo conlirbue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 2.5 Incoma All income is recognised once tho company has enlillemenl to the income, il is probable that the income wll be received and the amounl of income receivable can be measured reliably. Page 16

Sprlng Grove School 2003 IA company limited by guarantee) Notes to the flnanclal statements lorlhe year ended 31 August 2024 Accountlng pollclès Icontlnuedl 2.6 Expèndlturé Expenditure is recognised once there Is 8 legal or conslructlve obligallon lo transfer economiG benefit lo a third party, il is probable that a transfer of economlc benefits wlll be required in selllemenl and Ihe amount of the obligation can be measured reliably. Support costs are those costs incurred dlreclly In support of expenditure on the objects of the company. Expendllura on charitable activities is inourred on directly undèrtaking the acllvllles which fLJrther Ihe Company's obl&clives, as well as any associated support costs. 2.7 Int8r8St racalvable Interest on funds held on deposit is included when receivable and Ihe amount can be measured re.Ilably by the company,. thls is normally upon nollficallon of the Inter881 paid or payablg by the inslilulion with whom the funds are d8POSlted. 2.8 Tanglble flxad asséts and depreciation Tangible fixed a8$8ls, under the cosl model, are slated at hlstorical cost less accumulated depreciation and any accumulated Impairment losses. Historical cost includes expenditure Ihal is directly atlrlbLJl8ble to bringing the asset lo the locatior) and condition necessary for11 lo be capable of operating in the manner intended by management. Al each rèportlng dale the company assesses whether there is any indlcat5on of impalrmont. If such indication exlsls, the recoverable amount of th8 asset is delermined lo be Ihe hlghèr of ils fair value less costs lo sell alld Its value in use. An impalrmenl loss is recognised where the carrylng amount exceeds the recoverable amount. Depreciation is charged so as lo allocate th& cost of langlble fixed assets less their residual value over Ihelr estimated useful lives. as follows.. Motor vehicles Office equipmont 200A on cost 20% on cost The assets, resldual values. useful lives and depreclallon methods are r8viewed, and adju8led prOSt￿ctIVelY if approprlale. or if there is an indication of a slgnificanl change Since the last reporting dale. Gains and losses on dl8posals are determined by comparing the proceeds wllh the carrylng amount and ar8 r8cognised in the Statement of financial activities. 2.9 Révaluatlon of tangible fixed assets The company has adopted the revmlualiori model lo revalue items of proptrrty whosé falr value can b6 measu¥ed rellably. The revaluations shall be made with sufficient regularity lo ensure that the carrying amount does not differ malerially from that whlch would be determined using fair value at the end of the reporting period. Th8 fair value of land and bulldlngs Is usually determined from markel-based èvidence by 2ppr81s81 that is rbormally undertak8n by professionally qualified valuers. In addition, the Trusleeg regularly consider the carrwng value of the school's tanglb16 fixed assels against the loaal market and South East house Price Index, along wlh the value of fre8hold property improvements. Pa9e 17

Sprlng Grove School 2003 IA company Ilmitad by guarantee) Notes to the flnanclal statoments fortho year ended 31 August 2024 Accounting policiès {¢onfjnuedl 2.10 Debtors Trade debtors and prepayments ara rècognlsed al the selllemenl amount after any trade discount offered. 2,11 Cash at bank and In hand Cash al bank and in har)d includes cash and short-lerm hlghly Ilqurd Investments with a short maturily of thr89 months or18ss trom the dat& of acquisition or opening of the deposit or similar account. 2.12 Liabilitias Liabilities are recognised when there is an obllgalior) at the balance sheet éate as a result of a past evonl, il is probable that a transfer of economic bènefll ￿11 be required in selllemenl, and the amount of the selllemenl can be estimated reliably. Liabiliti&s arg recognised at the amount that the company anticipates 11 will pay lo sellle the debt or th6 amount il has received as advan¢ed payments for the goods or service911 musl provide. 2,13 Financlal instruments The company onty has financial assets and linancial liab111116s of a kind that qualify as basic financial inslrumenls. 8asic financial instruments are initially recognised at transaction value and subsequently measured al their selllemenl valve with the exception of bank loans which are subsequently measured at amortised cost using the eff6¢tiv8 interest method. 2.14 Penslons The company operates a defined contribution pension schome and the pension charge represents the amounts payable by the company lo the furTrd in respect of the year. Income from donatlons, legacl85 and grants Unr&stri¢ted funds 2024 Total funds 2024 Total funds 2023 Donations 5,579 5,579 6,328 Total 2023 6,328 6,328 Page 18

Sprlng Grove S¢hool 2003 (A ¢ompany limited by guarant881 Notes to the flnancial statements forthe year ended 31 August 2024 Income from charltable aGtivitSes Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Charitable activities 2,514,188 2,514,188 2,397,237 Total 2023 2,397,237 2,397,237 Unr8stricted funds 2024 Total funds 2024 Total fuRds 2023 School faes Giraffes fees Teddies fees Sports and activities fees Outlngs and school trip8 Misoellan8OLES income Wrap around care inibus servlce Facility hire Bursaries and discounts 2,201,440 179,792 128,927 33,086 2,201,440 179,792 128,927 33,086 2,062,552 166,063 139,375 14.177 iii 41,284 41,284 38,497 27,450 27,450 47,253 37,537 37,537 37,699 3,380 3,380 2,212 6,243 6,243 5.535 (145,359) {145,359} 1116,1261 2,513,780 2,513,780 2,397,237 Total 2023 2,397,237 2,397,237 Investment Income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Bank Interest received 11,557 11,557 1,957 Total 2023 1,957 1,957 Page 19

Spring Grovè SGhool 2003 IA company limited by guarantee) Notes to the financial statements for the year ended 31 August 2024 Analysls of expenditure by activities Diract Costs Support costs 2024 Total funds 2024 Total funds 2023 2024 Charflable activllles 1,555,q26 806,908 2,362,034 2.240,514 Totsl 2023 1,386,117 854,397 2,240,514 Analysis of direct costs Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Staff costs Teaching materials Canteen costs Sports and aclivllies costs Outings and school trip costs 1.361.605 36,281 86,460 24,318 47,462 1,361,605 36,281 85,460 24,318 47,462 1,224,995 37,360 77,164 5,297 41,301 1,555,128 1,555,126 1,386,117 Total 2023 1,386.117 1,386,117 Page 20

Sprlng Grove School 2003 IA company limlted by guarantee) Notes to the fiiiancial statements for the yeargnded 31 August 2024 Analysls of expenditure by activities Icontinuedl Analysis of support costs Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Staff costs Depreciatio Auditor's remuneratlon Cleaning Legal and professional fees Repairs and renewals Bank loan inlerost Bank charges Bad debl provislon Motor an'd Iravelling expenses Sundry expenses Bookkeeper 360,781 37,235 360,781 37,235 400,346 35,231 53.707 25,218 124,131 27,016 4,443 11,1421 12,256 7,457 3,670 53,707 25,21 8 124,131 27,016 4,443 11,142) 12,256 7,457 3,570 38.592 32,848 114,915 28,976 2,771 4,433 15,334 9,973 3,240 L 111 Rent Rates and water 1,000 15,257 17,683 38,271 7,418 4,410 11,793 4,822 6,993 23,130 8,884 12,575 1,000 15,257 17,683 38,271 7,418 4,410 11,793 4,822 6,993 23,130 8,B84 12,575 1,000 13,648 17,794 46,521 6,194 Insurance Light and heat Staff welfare Equlpment hire Staff tralnSng T@lephono Printing, poslagg and stalionary Advertising Subsoriptions Governance costs - audit and accounlanGy 14,665 4,923 6,654 39,182 7,077 10,080 806,908 806,908 854.397 Total 2023 854,397 854,397 Page 21

Sprlng Grove School 2003 IA company limited by guarantee) Notes to the financial stat8m8nts for the year ended 31 August 2024 Auditor's remuneration 2024 2023 Fees payable to the company's auditor for the audit of the company's annual accounts 9,680 9,080 Fees payable to the company's auditor in respect of.. All non-audil services not included above 1,000 fj.000 Staff costs 2024 2023 Wagos and salaries Social socurity costs Contribution to defined conlrlbulion pension schem8S 1,518,467 138,273 65,646 q,433,869 125,046 66,426 1,722,386 1,625.341 The average number of persons employe(I by the company during the year was as foll(ws- 2024 2023 Headteacher Teaohers Classroom assistants Canteen staff Administration staff 20 21 20 21 Mainlenan Cleaners 59 58 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2024 2023 In the band £70.001- £80,000 The key management personnel of Spring Grove School 20Q3 comprise the Trustees and Senior Leadership Team listed on page l. The lolal remunerallon and benefits, inclLJding émployèr's nallonal insurance conlribulions, p8id to the key managemenl personnél for Ihelr sarvice8 lo the school during the year amounted lo £161,801 12023.. £166,333). Included wlhin this amount are employer's nallonal insurance contributions which total £14,986 {2023'. £15,816) and employer's pension conlribullons of £19.84512023.' £18,975). Page 22

Sprlng Grove School 2003 {A company Ilmited by guarantee) Notes to the flnancial statements for the year ended 31 August 2024 Trustees. remun¢ration and expenses During the year, no Truslaes received any rsmuneralion or other ben8fils12023 - £NIL). During the year ended 31 August 2024, one Iwslèe was relmursed expenses related lo travel and other expenses, lolalling £18612023 £Nill. 10. Tanglble flxed assets Freehold property Motor Fixtures and vehlcles fittings Total Cost or valuation Al 1 September 2023 Additions Dlsposals 3,333,262 56,655 38,819 366,912 20,901 1406} 3,738,993 77,556 14061 At 31 August 2024 3,389.917 3B.819 387,407 3,816,143 Depreclatlon At 1 September 2023 Charge for the year On disposals 36,099 2,720 253,103 34,515 14061 289.202 37,235 14061 Al 31 Augusl 2024 38,819 287,212 326.031 Net book value Al 31 August 2024 3,389,917 100,195 3,490,112 Al 31 August 2023 3,333,262 2,720 113,809 3,449.791 The exlsllrtg freehold land and bulldlngs were valued an open market basls on 16 July 2018, by Pinder8. to be £2,700,000. Since Ihls dale the school has spent £689,917 on Improvements lo ils premises. The Trustees have assessed the valuation taking into account both current market conditions and Ihe valug of Ireehold improvements, and believe that this expenditure has enhanced the valuation in dlrect prorx)rtlon lo the cosl. Page 23

Sprlng Grove School 2003 IA company limited by guarantee) Notes to th8 flnanclal statements fortho ygar ended 31 August 2024 At 31 August 2024 freehold property is staled as follows.. 2024 At cost Movement as a result of addllions and previous revaluations 2,581,434 808,483 Net book value of freehold property 3,389,917 11. Debtors 2024 2023 Due within one year Trade d8blors Prepayments and accrued income 27,782 49,095 26,fj70 51,551 76,877 78,221 12. Credltors: Amounts falllng duè within one year 2024 2023 Bank loans Trade creditors Other taxation 2nd social security Other Creditors Accruals 70,492 32,019 26,432 550,466 31.932 68,410 57,476 37,365 335,260 29,981 711,341 528,492 Bank loans are secured by a first charge over the company's freehold land and buildlngs. Page 24

Sprlng Grove SGhool 2003 IA company Ilmlted by guarantee) Notes to th8 financlal statements for th& year ended 31 August 2024 13. Credltors: Amounts falllng due after more than one year 2024 2023 Bank loans 900,783 299,186 977,723 46,575 Other credllors 1,199,969 1,024,298 Spring Crove School 2003 hold a loan from Barclays Bank UK repayablg in full in Augusl 2035, Interesl Is payable al a rate of 2.690/0 P8r anntjm. The loan is secured on the properly of the school. The aggregate amount of Ilabililies payable or repayable wholly or In part more than five years alter Ihe reporting date is.. 2024 2023 Bank loans DeposSls Sn advanoe 572.028 27,350 658,876 27,950 599,378 686,626 14. Advancè school fae payments 2024 2023 Balance brought forward New School fees Amounts ulilised in payments of fe8S School fees invoiced in advance 310,472 399,358 2,201,440 2,062,552 12,276,382) 12,151,438) 537,635 Balancè carrled forward 773,165 310,472 These advanc8 payments ere Included wilhin creditors falling due wlhin one ygar and morg than one year. Pagg 25

Sprlng Grov8 School 2003 IA company Ilmlted by guarantee) Notes to the flnanelal statements for tho year endod 31 August 2024 15. Statement of funds statement of funds - current year Balance at i September 2023 Balance at 31 August 2024 Income Expendlture Unrestricted funds General Funds 1,739,270 751,828 2,531,324 12,362,034) 1,908,560 751,828 Revaluation resetve 2,491,098 2,531,324 12,362,034) 2,660,388 Statement of funds - prlor year B818nce al 1 Soplemb6r 2022 8alanc6 at 31 August 2023 Income Expenditure Unrestricted funds General Funds 1,574,262 751.828 2,405,522 12,240,514) 1,739,270 751,828 Revaluation resarve 2,326,090 2,405,522 {2,240,5141 2,491,098 16. Analysis of net assets between funds Analysis of net assets belween funds - current period Unrestricted funds 2024 Total fund5 2024 Tangible fixed assets Current assets Creditors due within one year Cradilor8 due in mor6 than one year 3,4go.112 3,490,112 1,081,586 1,081,586 (711,341) (711.341) {1.199.969) (1,199.9691 Total 2,660,388 2,660,388 Page 26

Spring Grove School 2003 (A company Ilmlted by guarantee) Not8S to the financial statements forth8 year endéd 31 August 2024 16. Analysls of net assets between funds Icontlnutrdl Analysis of net assèts between funds prlor period Unreslrfcled funds 2023 Total funds 2023 Tangible fixed assets Current assets 3,449,791 3,449,791 594,097 594,097 1528,4921 1528,4921 11,024,298) {1.024,2981 Credilorg due within one year Creditors due in more than ono year Total 2,49fj,098 2,491,098 1Y. Reconciliation of net movement In funds to net cash flow from operating actlvltles 2024 2023 Net Income for the period las per Stslemenl of Flnanclal Activities) 169.290 165,008 Adjustments for: Depreclallon charges DSvidends, interests and rents from Investments Decreasollincreasel in debtors IncreaselldeGrease) in creditors 37,235 110,85B) 1,344 433,378 35,231 {1,9571 {20,5851 {76,5171 Net Gash provlded by operatlng actlvltl&s 630,389 101,180 18. Analysls of Cash and cash equlvalents 2024 2023 Cash in hand 1,004,709 515.876 Page 27

Sprlng Grovo S¢hool 2003 {A company limited by guarantee) Notes to the financlal statements for the year ended 31 August 2024 19. Analysls of changes in net debt At1 September 2023 Cash flows Other non- cash At31 changes August 2024 Cash al bank and in hand Debt due within l year Debt due after 1 y8ar 515,876 168,4101 1977,7231 488,833 1,004,709 170,492) 1900,783) 12,0821 76.940 {530,2571 488.833 74,658 33,434 20. Pension ¢ommltments The school operalas a defined contribution pension schema. The ass8ts of the schem8 are held soparately from thosé of the school in an independently administer￿ fund. Thg eonlribulions payable by the school lo the fund during tho financial year amounted to £65.646 12023.. £66,426). Gonlribulions lolalling £10,077 (2023: £10,479) were payable to th6 fund at the balance sheet date and are Included in crcdilors. 21. Operatlng lease commltments Al 31 August 2024 the company had commSlmenls lo make futur8 minimum lease payment8 under non- cancellablg operating 5eas8s as follows: 2024 2023 Not later Ihan 1 year 3,307 Page 28

Sprlng Grove School 2003 {A company limited by guarantee) Not8S to the flnancial statements forthe year ended 31 August 2024 22. Related party transactlons During the year, S Burwell Ilrusle81 had a chlld in the school for whom sohool 16es were paid and are illcluded within the school's income. The lolal income received was £14,715 {2023.' £13,755) for the academic year. No balances remain oulslandlng (2023.. £Nill. During the ye8r, C Harding Ilrusleel had children in Iha school for whom school fees were paid and are included within the school's income. The lolal income received was £25,445 (2023.. £20,517) for the academic y6ar. No balances rarnain oulslandlng12023: £NIII. During the year. G Welherad Ilrusleèl had a grandchild in the school for whom school fees w8ra paid and are included within the s¢hool's income. The lolal incoTne received was £4,400 12023.. £Nill for the academlc year. No balances ramain outstanding {2023'. £NIII. During the year, A Mcculloch {Iruslee) had childr8n In the SGhool for whom school fees were paid and are included within the school's Income. The lolal income received was £21,000 {2023'. £11,514) for the academic year. No balances remain ouis'landing {2023.. £Nill. Fees In advance of £25,31912023- £Nill were paid by A Mcculloch for future academic years, this is included in the Fees in advancè creditor balance al th8 year end. Durinq the year, V Jones (bursar) had a chlld in the school for whom school fees were pald and are included within the school's Income. Th6 total Income received was £7,358 12023: £6,877) for the academic year. No balances remain oulslanding12023'. £Nill. During the year, the sGhool paid £21,191 12023.. £22,863) lo Deus Solutions Limited In respect of IT services lo the school, a ¢ompany of which D Urand Ilrusleo) Is a director. £1,166 12023.. £1,654) was owing as al 31 August 2024. 23. Controlling party The company Is under the ultimate control of the Board of Trustees with no indlvldual having any greater control than any other. Page 29