2025-08-31-accounts

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

Charity Registration No. 1102931

Company Registration No. 5023969 (England and Wales)

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

CONTENTS

	Page
Company information	1
Directors’ report (incorporating the Strategic Report)	2
Independent auditor’s report	17
Financial statements of the company	21
Notes to the Financial Statements	25

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

COMPANY INFORMATION

DIRECTORS AND ADVISORS

Directors Mr R P Sartain (Chairman) Mr A J Barker FCA Mrs N Cooper BEd (Hons) Mr E Davies BA (Hons) Mrs H Fitzgerald MA (Oxon) Mr M N Holyoake BSc (Hons) FGS ACMA CGMA Mr R M Jenkins BA (Hons) MBA Mr J Sharman Hons BCom Ms A Stubbs BA (Hons) Mrs A J Thorn BA (Hons) MBE, DL Mr D Tyack MA (Oxon) Ms C Watson MA (Oxon) Mr N L Winkley MA (Oxon) MEd (Open) PG Cert Bus Admin (Open) Mr P Wood FCA Charity No. 1102931 Company No. 05023969 Principal Address and Registered Office Prestfelde School Limited London Road Shrewsbury SY2 6NZ Key Management Personnel Head Mr N Robinson MSc PGCE Bursar and Clerk to the Governors Ms A Allott MCMI, HND from 27/08/2024 to18/02/2025 Mr R I White BA (Hons) from 19/02/2025 (interim) Auditor Moore Kingston Smith LLP (Statutory Auditors) 6[th] Floor, 9 Appold Street London EC2A 2AP Bankers Barclays Bank 44 – 46 Castle Street Shrewsbury SY1 2BU Solicitors Messrs Hatchers Welsh Bridge, 1 Frankwell Shrewsbury SY3 8LG Insurance Brokers Marsh 1 Tower Place West Tower Place London EC3R 5BU

1

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

The directors present their report and financial statements for the year ended 31 August 2025 and confirm they comply with the requirements of the Charities Act 2011, including the Directors’ and Strategic Reports, under the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE INFORMATION

The charity was incorporated on 23 January 2004 and is registered with the Charity Commission as charity number 1102931. The charity is a limited liability company and was a wholly owned subsidiary of The Woodard Corporation (charity number 1096270). The charitable company is incorporated in the United Kingdom. Directors of the Company were also Fellows (members) of the Woodard Corporation and participated in the election of its board of management and were committed to its charitable objects. On 10 October 2025 the charity joined the Shrewsbury Family of Schools. Subsequent to this, the decision has been made to transfer the trade and assets of Prestfelde School Limited into Shrewsbury School from xx xx 2026 through a merger of the two Charities.

Note 29 provides details of connected charities.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The company is governed by Articles of Association as adopted by Special Resolution dated 20 March 2013, replacing those dated 20 January 2004 amended by Special Resolution(s) dated 25 January 2006, 28 April 2009 and 23 June 2009. They permit funds to be managed in such a manner as the directors see fit, provided that such powers are only exercised for the purposes of attaining the objects and in a manner which is legally charitable. The Articles of Association forbid the distribution of any property or funds, which are to be applied solely towards the promotion of the objects of the company.

Governing Body

The governors are the directors and charitable trustees of the company and comprise the governing body of Prestfelde School and are elected to hold office for five years. The school is governed by the governing body which operates using a number of committees. Membership of each committee is outlined on page 14. The governing body met 3 times during the year. Throughout the accounts the governing body will be referred to as either trustees, directors or governors.

Recruitment and Training of Governors

All governors are Corporate Fellows of the Woodard Corporation. Fellows are responsible for electing the Woodard Corporation Board. Governors are recruited on the basis of nominations from school contacts and from selection when a post becomes available. The governing body look to ensure a mix of skills and select new governors on the basis of background, competence, specialist skills and, in the case of Fellows, Christian commitment. Governors are provided with induction training by the Head, Bursar and staff and a wider programme of training events is organised by the Woodard Corporation. The school also encourages governors to attend events run by the Association of Governing Bodies of Independent Schools (AGBIS).

Where possible the governors consider that the skills and experience of the Board should comprise the following:

A Governor with a legal background.

A Governor with a financial/accounting background.

A Governor with education experience.

A Governor with senior managerial or business experience.

A Governor with experience of equal opportunities or disability needs.

At least one female Governor and at least one male Governor.

One Governor may have one or more of these skills.

2

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

Volunteers

Governors are volunteers providing their time for free to support the governance of the school. The school also relies on a number of other volunteers to undertake roles including helping the school to raise funds, assisting in school events, helping with reading, and providing other help where required. The governing body would like to thank all of the volunteers for their help and acknowledge the assistance given.

Organisational Management

The school is governed by the governing body which delegates work to a number of committees. Membership of each committee is outlined on page 15. The directors determine the general policy of the company.

Finance and General Purpose (F&GP) Committee – the F&GP Committee has a remit to consider budgets, both revenue and capital, cash flow information and financial reports, including the financial statements. It also considers financial policies and the financial regulations and develops the school’s estates strategy, including capital developments and maintenance of the buildings and discusses the overall health and safety of the site. It makes recommendations to the governing body for approval. The F&GP Committee met 5 times during the year.

Strategic Development Committee – the Strategic Development Committee develops the school’s estates strategy, including capital developments and maintenance of the buildings and it makes recommendations to the governing body regarding the strategic direction of the school. It met once during the year.

Safeguarding, Health and Safety and Boarding Committee – the Safeguarding, Health and Safety Committee is responsible for overseeing the compliance of the school in these key areas. This committee also oversees the policy and procedures in place to implement measures across the school. It met 3 times during the year.

Education, Pastoral, SEN and Spiritual Committee – the Education Committee is responsible for oversight of the academic performance of the school and educational policy, making recommendations to the governing body. It met 3 times during the year.

Marketing, Communications, Fundraising and Old Prestfeldians Committee – this Committee is responsible for the oversight of the internal and external marketing of the school and for making recommendations to the governing body. It met 3 times during the year.

Concessions Committee – Assessments following the bursary applications are circulated to the committee members who then send their responses to the Bursar and Head.

The day-to-day management of the company is delegated to the Senior Leadership Team which comprises the Head, two Deputy Heads, the Assistant Head, the Head of Little Prestfelde and the Bursar. The Head and Bursar are classed as Key Management personnel, overseeing educational, pastoral and administrative functions in consultation with the senior staff. The day-to-day administration is undertaken within the policies and procedures approved by the governors which provide for only significant expenditure decisions and major capital projects to be referred to the governors for prior approval.

The Head oversees the recruitment of all educational staff, whilst under delegated authority the Bursar oversees the recruitment of administrative and non-teaching support staff. The Head and Bursar are invited to attend governors’ meetings.

The remuneration of key management personnel is set by the governing body, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the school’s success.

The appropriateness and relevance of the staff pay policy is reviewed annually, including reference to

3

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

comparisons with other independent schools to ensure that the school remains sensitive to the broader issues of pay and employment conditions elsewhere.

We aim to recruit, subject to experience, at the lower to medium point within a band, providing scope for rewarding excellence. Delivery of the school’s charitable vision and purpose is primarily dependent on our key management personnel and staff costs are the largest single element of our charitable expenditure.

Group Structure and Relationships

The school has a wholly owned non-charitable subsidiary, Prestfelde School Enterprises Limited, the activities and trading of which are described below. Note 29 provides details of connected charities.

We have a range of facilities that we are able to let out to the local community. These include the theatre/chapel, gymnasium, classrooms, swimming pool, dining room and sports fields. We ran our own inhouse activity camp provision during some of the holiday periods, as well as hosting an external activity camp provider at other times.

The school continues to develop links with a wide range of organisations to ensure the widest possible access to our facilities and schooling. Through membership of the Independent Association of Preparatory Schools (IAPS); The Independent School’s Bursars Association (ISBA); and several other government and independent organisations linked to the provision of children’s education and through networking with peer groups we ensure that we are able to attain the highest standards of quality and performance. We encourage our pupils to develop an awareness of the social context of the all-round education they receive at the school, and they are engaged in a number of activities to enhance their understanding. We have a thriving alumni group, the Old Prestfeldians, who are generous in supporting the work of the school and whose support we greatly appreciate. We also cooperate with many local charities and local State schools in our ongoing endeavours to widen public access to the schooling we can provide, and to optimise the educational use of our cultural and sporting facilities.

CHARITABLE OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

Charitable Objects

The charity’s objects, as set out in the Articles of Association, are to promote and extend education (including spiritual, moral, social, cultural and physical education) in accordance with the doctrines and principles of the Church. The Church is defined as being the Church of England and churches in full communion with the See of Canterbury.

Intended impact

Woodard schools strive for the best all-round education of every aspect of each individual; they ensure high standards of religious education; and they see themselves as communities working together for the benefit of all members, and of the Church and the nation. They are strong Christian foundations which adhere to catholic belief as found in the Church, to Christian worship focused in the Eucharist, and to the care of each individual and the whole school community particularised in the ministry of the Chaplain.

Aims

Prestfelde School’s mission is to enable all children to develop their love of learning, academic potential and individual talents in a caring Christian community which fosters sensitivity, confidence, a sense of service and enthusiasm for life.

Primary objectives

The primary objectives for the school have been articulated in the 2029 Centenary Strategy published in September 2023. The vision is to ‘further develop our position as a leading UK prep school’ which will be recognised by:

4

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

Academic excellence focused on individual pupil progress and success

• Develop and implement an innovative new learning skills curriculum for pupils of all ages.

• Initiate a new tutorial and mentoring programme for our senior pupils to further enhance their learning and independence.

• Maximise all learning opportunities by the way we shape the day to make the best use of facilities and staffing across the school.

• Deliver progressive IT strategy that maximises technology, software and AI advancements to enhance and personalise pupils learning.

• Review the way we reward and report on the pupil’s achievements, successes and outcomes.

• Implementation of a progressive staff appraisal & development programme.

Inspiring co-curricular programme for all pupils

• Equality and opportunity in sport - football for girls and optimised Wednesday afternoon sports provision.

• Further enhance the Prestfelde Plus Saturday morning programme.

• Widen opportunities for the Creative Arts that enable greater participation and opportunities for excellence.

• Focus on trips and camps that broaden experience and adventure whilst remaining accessible.

• Increase the sport provision for pupils in Little Prestfelde.

Culture of positive wellbeing & inclusion for pupils and staff

• Re-energise House structure creating opportunities for pupils to mix, compete and experience a sense of belonging.

• Further develop the wellbeing environment for staff and pupils that creates a place of choice to work and learn, within a ‘one school’ focus.

• Establish genuine and meaningful opportunities for pupil voice for children of all ages.

• Develop Flexi boarding that is vibrant and encourages opportunities for growth.

• Ensure that Diversity, Equity, and Inclusion is embedded into the DNA of Prestfelde.

Forward thinking leadership & governance

• Ensure Prestfelde is underpinned by an effectively structured governing body and sub committees that are focused on delivering outstanding governance.

• Ongoing investment in the development of our senior leaders and managers.

• Deliver on a financial strategy that ensures long term stability through a portfolio of income streams that align to the ambitions and mission of the school.

• Be agile in a changing environment, but true to our strategic mission.

5

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

Community engagement through positive and enduring relationships

• Re-energise the Old Prestfeldian alumni to provide opportunities for former pupils and staff to engage positively with the school.

• Widen our outreach programme of state school partnerships and charity / community relationships.

• Broadcast Prestfelde’s vision, ethos and mission nationally through effective marketing.

• Be innovative through the provision of transformational bursaries.

Sustainable investment to deliver inspiring and high-quality facilities

• Complete Phase 1 of a capital investment campaign - the building of a new astro turf and the refurbishment of Highfield House.

• Create a forward-thinking estate master plan to ensure effective delivery of capital builds, ongoing refurbishment, and onsite traffic solutions.

• Drive carbon neutrality - in all our operations and decisions.

Strategies to achieve the primary objectives

The Full Council and Senior Leadership Team will employ a number of strategies to achieve the primary objectives including:

• Regular review, challenge and update of the strategic plan and associated school development plan.

• Governor opportunities to be ‘in school’ meeting staff and pupils and observing how the school is performing.

• Use of KPI’s against benchmarking data.

• Analysis of the wider marketplace and education sector.

• Ongoing PD and professional reviews of staff.

• Use of survey information to inform progress and areas to improve.

• Keeping abreast of educational best practise.

Principal Activities of the Year

The principal activity of the school is the delivery of education to pupils ranging from 3 to 13 years of age. We also run a number of holiday school activities, and the school is open at other times for use by the local community outside of school hours. Pupil numbers at the school during the year were as follows:

Preparatory School Pre-Preparatory School Total	2024/2025 215 107 322	2023/2024 225 113
		338

During the week we offer boarding on a flexi basis for 3 nights per week. The school does not offer full boarding.

6

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

Public Benefit

Within the objects, the school aims to create an environment to nurture children, to get the best from them and to allow them to develop and fulfil their potential. We provide them with a first-class independent education and a wide range of sporting and creative opportunities. Our public benefit aim is that all pupils will be caring, courteous, confident and happy individuals and desire to contribute to the wider community. Pupils are developed not only for exam success but also with a full appreciation and delight in all learning and all aspects of cultured living – in music and the arts or sporting and adventurous outside endeavour.

In furtherance of these aims the Prestfelde School governors, as the charity trustees, have complied with the duty in s.17 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance concerning the operation of the public benefit requirement under that Act.

Our school welcomes pupils from all backgrounds. To admit a prospective pupil, we need to be satisfied that our school will be able to educate and develop a prospective pupil to the best of their potential and in line with the general standards achieved by their peers. Entrance assessments are undertaken to satisfy ourselves and parents that potential pupils can cope with the pace of learning and benefit from the education we provide. An individual’s economic status, gender, ethnicity, race, religion or disability do not form part of our assessment processes.

The school ensures its facilities and expertise benefit the local community. The sporting facilities are used for local and county level clubs and activities in athletics, cricket, football, lacrosse, netball, rugby, tennis, dance and swimming.

We open up our facilities to local children in other schools through Sports festivals during the year for KS1 children in local primary schools. This year we continued our work with Shropshire Cricket, being the host for girls cricket in the county.

Our swimming pool is used by a number of local organisations, including local primary schools and local interest clubs offering activities for all ages. We host swimming galas for local schools and to encourage swimming as a survival skill for all children to learn.

We support our local community. Our minibus has provided transport for the local community so that they can attend support groups. Harvest Festivals take place and food deliveries were donated by our children and parent community working closely with Shrewsbury Food Hub supporting them in raising funds for them to distribute within their charity. We work alongside Christian organisations to raise awareness and promote fund raising across the Diocese.

The school shares good practice at Deputy Head and Head of Department level through hosting networking events to learn new ideas and discuss putting them into practice.

The school offers its expertise and shares best practice in many academic subjects. We have held two primary cluster meetings this year to support local primary schools. This is an opportunity to share good practice between practitioners, so that these strategies can be taken back to local primary schools and implemented.

We continue to participate in the John Muir Award in our Middle School in conjunction with the Wildlife Trust.

In science we held a competition day for local primary schools within the Severn Bridges group. This provided engagement in science for children who do not have access to science laboratories or specialist teaching.

In music the school participated in the ‘Big Band Workshop Day’ at Shrewsbury School and again at Wrekin College to bring local children together to enjoy performance music. Later in the year we also attended the Choral Workshop Day at Concord College attended by local primary school children to foster a love of singing together.

The school also continues to undertake charity work – both in time and money – at a local level and national level. This year pupils chose four Shropshire Charities and raised over £3000 to support their

7

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

causes.

Our school is a part of a wider community, and we are keen that our staff and pupils participate. Our governors are committed to developing our programme of cooperation and joint working with local maintained sector junior schools. The activities undertaken and the success of our programme are explained in the ‘review of achievements and performance for the year’ section of this report.

Prestfelde School strives to ensure that measures for public benefit are appropriate, and that significant sections of the public are not excluded from the opportunity to benefit from the education and facilities offered due to the need to pay a fee. In addition to significant provision of bursaries and other forms of financial support, the school provides a wide range of opportunities for community benefit and facilities and events are often open to all.

It is a key requirement of evidencing public benefit that any private benefit to individuals or elements of the charity will be incidental to the charity's objectives. An example of private benefit may be the reimbursement of travelling expenses for trustees attending training courses: any private benefit to individuals or elements of Woodard are incidental to delivery of the charitable objectives.

Concessions Including Bursaries & Scholarships

Our school does not have an endowment and in funding our concessions we have to be mindful that we must ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their child’s education, and those benefiting from the awards. Further details of our concessions polices and how to apply are available on our website www.prestfelde.co.uk.

All criteria and policies relating to concessions are kept under review and are updated when necessary.

Bursaries

Bursary awards are important in helping to ensure children from families who would otherwise not be able to afford the fees can access the education we offer. Our bursary awards are available to all parents who meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil’s education and future prospects would otherwise be at risk for example in the case of redundancy. In most cases the budget for bursaries is allocated using a “needs blind” approach as far as possible, whilst giving priority to the continuity of education of those pupils already at the school. Bursary applications are assessed by a third-party organisation.

This year the value of means tested bursaries totalled £203,451 (2024: £164,549) and represented 3.83% (2024: 3.1%) of our gross fees. They provided assistance to 35 (2024: 30) of our pupils with no pupils benefiting from a full remission of fees.

Scholarships

The purpose of our scholarship awards is to recognise high academic potential or the ability to excel in our co-curricular activities. Our scholarships are awarded on the basis of the individual’s academic potential or evidence of exceptional abilities which will contribute to our co-curricular activities. In addition, awards may be subject to conditions imposed by the original donor.

The school awarded scholarships to 39 (2024:38) pupils, based on their educational merit and potential, totalling £64,218 (2024: £80,091) and representing 1.21% (2024: 1.5%) of our gross fees. Of this number, 7 (2024: 5) also qualified for means-tested bursary support and are included in the figures relating to bursary awards.

The progress of pupils receiving scholarships is reviewed at least annually to ensure their progress is in line with their abilities. No scholarships were withdrawn in the year as a result of reviews.

Employment Policy

We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of colour, race, ethnicity, religion, sex, sexual orientation or disability. We will make reasonable adjustments to meet the needs of staff or pupils where required.

8

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

Engagement with Suppliers, Customers and Others in a Business Relationship with Prestfelde School

Prestfelde School seeks to engage actively and positively with all stakeholders in the local community and in the wider educational landscape. Collaborative relationships with suppliers, parents, educational partners and community leaders are seen as key enablers to achieving success in all of the group’s operations.

During the year the group has further promoted this engagement though specific initiatives including:

• Regular communication and engagement with parents and prospective parents of pupils attending Prestfelde School to enhance the understanding of the provision to each pupil and to fully coordinate support to pupils from parents and schools.

• Engagement with other educational organisations and partners at local and national levels to share best practice and to provide peer support.

• Active dialogues with local councils on matters which impact children and families in the community as well as relate to operation of each school.

• Engaging with local businesses to obtain best value and support local business growth.

• Seeking all possible opportunities to engage with local and national suppliers in the area.

• Seeking regular communication with all suppliers and ensuring good commercial practices of prompt payment and clear communication to optimise arrangements for supply of goods and services to Prestfelde School.

• Promoting and encouraging pupil and staff opportunities to engage in local voluntary and other projects to support the community.

• Providing community access to facilities to Prestfelde School and, in many cases, adopting a role that puts the school at the heart of a community.

STRATEGIC REPORT

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR

Responding to External Pressures

The independent schools’ sector, including Woodard independent schools, suffered unexpected cost shocks in the form of additional employer’s National Insurance and the adjustments to the National Minimum Wage on top of the expected loss of building rate relief and the imposition of VAT on independent school fees from 1 January 2025.

The introduction of VAT appears to be adversely impacting pupil recruitment so there are both fee income pressures and cost pressures on all independent schools and Prestfelde is not immune to these. Innovative ways to generate additional income and reducing costs become priorities for all schools.

School Performance and Achievements

Prestfelde has continued to perform exceptionally well in many areas of school life. The 2029 Centenary Strategy has provided energy and focus towards achieving our vision of further developing our position as a leading UK prep school. Key achievements in each of the strategic pillars include:

Academic excellence focusing on individual progress and success

• A record 37 scholarships were awarded to Year 8 pupils from a range of Senior Schools, including Shrewsbury School, Concord College, Malvern College and Gordonstoun with an impressive 13 Academic scholarships awarded.

• All Year 8 pupils passed Common Entrance and gained a place at their first choice Senior School.

• Pupil achieved exceptional EYFS Early Learning Goals results. 84% of children met the expected standard. Literacy and Maths a particular highlight with 92% of children at the expected standard. National and local data is yet to be published but this normally sits around the 60% mark, so we continue to be far ahead.

9

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

• A new INSET programme was implemented with all staff will be trained in children’s mental health certificate from the Wellbeing hub. Option blocks delivered by the academic team; EAL training, AI, Effective starts to lessons, online safety

• Continued and successful Teaching & Learning half termly bulletins have ensured a culture of ongoing professional development is being embedded across the whole staff team

Inspiring co-curricular programme for all pupils

• Wider Horizons Week was a huge success with Year 8 in the Ardeche, Year 6 in Normandy, Year 5 at the Great Escape and Year 4 at Condover hall. All other year groups enjoyed a week of onsite activities and day trips further afield.

• Sports Highlights

• U 13 boys Shrewsbury School football champions

• U 11 Boys, U 11 girls & U 13 boys all winning their sections of the Shrewsbury School Cross-Country Hunt. U 13 boys coming home in 1st, 2nd, 4th, 5[th]

• U 11 boys 4th out of 54 schools in the National Prep Schools Cross Country Championships

• U 11 girls 10[th] out of 36 schools in the National Prep Schools Cross Country Championships

• U 13 boys 6[th] out of 36 schools in the National Prep Schools Cross Country Championships

• U 12 boys County Cross Country champions, Individual 1[st] place winner

• U 12 girls County Cross Country runners up

• U 13, U12 girls County hockey champions

• U 12 girls County hockey champions & U11 girls runners up

• U 13 girls national quarter finals in the ESFA Football competition

• U 12 girls Malvern cricket champions & U 11 boys runners up

• 3 pupils qualified for the IAPS national swimming finals at the London Aquatics Centre

 Music Highlights

• Continuation of the Tea-Time Recital Series which this year has now become half-termly. We’ve had over 60 pupils performing as soloists in these recitals this year.

• A record number of internal ABRSM entries this academic year with well over 80 entries

• Recorder Concert in the Autumn Term. Featuring all 66 pupils across Years 2-3 who played their recorder in a massed ensemble

• 17 pupils across Years 3 – 8 attended the Shrewsbury School Big Band Day in the Spring Term.. The day involved workshops and rehearsals and cumulated in a performance to parents

 Drama Highlights

• Whole Year 7 cohort achieved the Bronze Arts Award in one term - 100% pass rate.

• LAMDA results - 17/26 pupils achieving a Distinction in the May exams

• Matilda the Musical - resounding success, large numbers of pupil involvement

• Professional working relationships made with researchers from Staffordshire University, the Creativity Collaboratives / Creative Exchange, FABRIC Dance Birmingham and multiple schools for a collaborative working (Tring Park School of Performing Arts, Thomas Telford School, The Telford Langley School, William Brookes School)

10

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

• Introduced MN Awards in Screen Acting, being one of the first schools in the country to do so. Fully accredited Grade 1 exams. Year 5-8 pupils involved, all passed with Merit or Distinction.

• Introduction of Prestfelde Theatre Company. Resounding success, with two schools opting to fully take part in the process next academic year (Haughmond and Coleham). The school we visited had their Ofsted inspection whilst we performed, and head commented that it was a great asset to their provision. Lots of links built between schools and colleagues.

• Production of ‘The Wardrobe’ play, which was our Head of Drama’s directorial debut for a play. Incredibly well received. Performances to Year 3+ and parents, all well attended. Collaboration between departments as the site team, Art, and DT all contributed

• Art

• The Advanced Art Exhibition in May showcased the extraordinarily high level of the current Year 8 cohort across a wide range of techniques.

• The new printing press from Ironbridge printmakers is now in regular use which has opened up so many opportunities to produce a very different range of successful outcomes for our pupils - a piece of equipment rarely used at this age group.

• The Kiln is in regular use across the board from Years 3 – 8, and our Monday Clay Club, with beautiful pieces of work being produced.

Culture of positive wellbeing & inclusion for pupils and staff

• New 5 night per week boarding model launched with great success and record numbers of children boarding

• Prestfelde joined the Wellbeing hub and staff and parents received workshops from Alicia Drummond.

• The Head of Wellbeing

• Introduced a series of Wellbeing Wednesdays, which have included breaktime activities such as fitness flash mob and musical lunches

• BSA Sleep Champions: We are proud to have been awarded the BSA ‘Sleep Champions’ award, following a thorough audit of our sleep routines. This recognition reflects our commitment to promoting wellbeing and focusing on sleep hygiene, which is essential to the health of our boarders.

• 12 Senior School pupils have been trained as Peer Mentors in order to support pupils wellbeing. They delivered an excellent assembly to the whole school outlining their roles and responsibilities.

Forward thinking leadership & governance

• The school held its first Governors In School & Strategy Day. Governors met with staff and observed lessons, and then met to review strategy and development plan progress,

• The Governor Strategy Committee and SLT successfully implemented the legislative VAT changes

Community engagement through positive and enduring relationships

• The first Prestfest was a resounding success and was a wonderful way to celebrate the community. Over 600 children, parents and friends of the school attended.

• The Old Prestfeldians hosted their first London event which was attended by 60 former pupils and staff

11

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

• The Marketing & Admissions Department have had a busy term and attended the Independent Schools Show in London for the first time increasing awareness of the school to a wider geographic area. A targeted and intensive marketing campaign Why Prestfelde? was launched in March and was a resounding success.

• Children from Nursery regularly visited the Oxbow Manor Care Home in November for the first time. The Nursery manager said said that the experience was “ AMAZING and we shared some absolutely golden moments. We really, really had a great time with so many precious interactions between very young and very old ”.

• Year 7 Senior School pupils are took part in a ‘£10 Apprentice Challenge’ in partnership with the 4AllFoundation, a local charity to Shrewsbury and the surrounding areas who are involved with supporting children and families from disadvantaged backgrounds

Sustainable investment to deliver inspiring and high-quality facilities

• The first phase of the redevelopment of Highfield House has been completed with an opening planned for the Autumn Term 2025

• The school successfully received planning permission for a new multi surface pitch

Key Performance Indicators

Prestfelde uses KPls internally and externally in line with anonymised results from national surveys. These KPls include surplus, pupil numbers, and financial ratios. These KPls are analysed within Prestfelde, by Governors and also by the Woodard Corporation.

Funds held as custodian trustee on behalf of others

Prestfelde School does not hold funds or act as custodian trustee on behalf of others.

FINANCIAL REVIEW

Results for the Year

Incoming resources for the year amounted to £5,279,017 (of which the school is £5,286,604) (2024: £5,316,426) of which the operating (deficit)/surplus on school activities was (£178,069) (2024: £68,258). Our targeted percentage of fee income set out in our long-term plans was not met. This deficit has been impacted with a rise in fees lower than inflation and against a background of strongly rising operating costs including the unexpected employment costs imposed in April 2025. We are not satisfied with this outcome despite it being against a backdrop of an uncertain year. Gross income for the year was down by some 0.71% on last year, reflecting a reduction in pupil numbers when modest fee increases are taken into account.

Our trading company Prestfelde School Enterprises continues to hire out facilities on the school’s behalf outside of school hours and during the holidays. The company contributed £16,042 to the school’s operating deficit (2024: £24,014). Group total funds decreased by £186,142 for the year, including revaluations.

The parents of our pupils often make significant sacrifices to pay the fees. In doing so they help to relieve the state of the financial burden of educating 338 UK based children. The saving is estimated to have a value in the last year of £2,643,620. Up to January 2025, the school was unable to recover the VAT on purchases it made. Up to the end of December 2024, Prestfelde School paid an estimated £70,421 in irrecoverable VAT on goods and services

Prestfelde School provides a pension to some staff under the terms of The Pensions Trust Growth Plan. As a result of this pension scheme being under funded, Prestfelde School is committed to contributing to a recovery plan. During the course of the year Prestfelde School made contributions to the recovery plan of £Nil (2024: £7,684) and the recognised liability under the plan reduced by £7,684 with this value being recognised in the Statement of Financial Activities. Further details can be found in note 22.

12

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

Reserves Level and Policy, and Financial Viability

Prestfelde School’s policy is to retain sufficient unrestricted income reserves to enable the company to continue to meet its short-term financial obligations in the event of an unexpected revenue shortfall. The aim is to budget so as to provide sufficient working capital to meet the present needs and future development requirements of the school without the requirement to have recourse to sales of tangible fixed assets.

The balance sheet contains a number of non-cash and longer-term liabilities, including those related to pensions. These items are excluded from consideration of the available reserves. Unrestricted funds decreased by £186,142 (2024: Increase £92,272) to total £4,361,030 (2024: £4,547,172), as shown in note 20. Prestfelde School plans to fund longer term capital expenditure and meet long term liabilities through careful management of resources and investments and through building reserves through operations and trading. The company’s unrestricted reserves are primarily invested in tangible fixed assets which are all used for its direct charitable activities.

In common with most independent schools, and due to having to fund their own capital investment plans, free reserves are at a negative balance illustrating the extent of the investment in our school. The school had total reserves of £4.345m at the year-end which were all unrestricted funds. Prestfelde School also has reserves of £41k for pension-funding deficit. Fixed assets held for charity use totalled £5,086m, leaving free reserves of £741k (2024: £628k) at the year-end. The school’s financial viability does not depend on income reserves but in its ability to continue to trade at a surplus on an annual basis, and on the substantial portfolio of fixed assets held for operational use. The school does not have, and cannot rely on, permanent endowments. The School’s total incoming resources totalled £5,287m for the year with a year-end bank balance of a deficit £37k (2024 surplus: £221k).

PRINCIPAL RISKS AND UNCERTAINTIES

The governors consider the economic turbulence of recent years and the affordability of fees by parents across the independent sector to be the principal risk faced by the school. In addition, the school is not alone in facing an increase in the cost of supplies and salaries as a result of inflationary and cost of living increases. The governing body, therefore, decided last year to increase the fees in September 2024 by 5.75%. For September 2025 the governing body has again limited fee changes, to a 3.7% increase.

The independent sector as a whole is currently subject to increased political risk following the introduction of VAT on school fees, and the removal of business rates relief. The introduction of VAT creates a level of uncertainty in business planning for all independent schools. Planning future income based on pupil numbers has become more difficult due to an increased level of uncertainty in demand. The full effect will not be known until levels of demand settle down, schools adapt and parents become more secure in their finances. This is unlikely to happen for a number of pupil recruitment cycles.

Health and Safety is always a significant area for risk management. The risks range from fire and damage to infrastructure, to personal risks (most notably when away from the site on trips and expeditions). The level and breadth of activity at the school is impressive and the risks associated with all activities are minimised by thorough planning and risk assessment.

The governing body is responsible for the identification and management of risks. The major risks to which the charity is exposed, as identified by the directors, have been reviewed and systems and procedures have been established to manage those risks. Detailed examination of the risks and establishment of controls to mitigate them is delegated to the Senior Leadership Team and the process is overseen by the governing body. A formal review of the risk management processes is undertaken annually.

The principal risks to which the group is exposed include those affecting protection of pupils and security and preservation of charitable assets both now and in the future. Significant risk areas:

• the governors consider possible catastrophic events and ensure that the school has a plan in place to allow education to continue in a range of different scenarios

• the market in which the school operates is highly competitive and we monitor developments in education to ensure that pupils always receive a first class, holistic and varied educational experience in our school

13

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

• we strive to ensure that all staff are able to work in a safe and supportive environment and policies, procedures and training in Human Resource Management and Health and Safety help to ensure that the school meets expectations

• the school operates in a highly regulated sector, including in matters of child protection, and we appoint appropriate professional advisers to ensure that we can keep up to date with all requirements; school or individual membership of bodies being the constituent associations of the Independent Schools Council also ensure that we have access to up-to-date information and support

• the school operates in an increasingly litigious environment, and we appoint appropriate professional advisers and purchase insurance using specialist brokers and advisers to ensure that we can keep up to date with all requirements and meet all challenges

• all organisations face difficult economic conditions, particularly in relation to the impact of inflation, and directors and senior managers in the school keep abreast of economic conditions locally, nationally and internationally to identify trends and develop plans to address issues.

The key controls used by the school include:

• formal agendas and minutes for all meetings of the governing body and committees

• terms of reference for all committees

• comprehensive strategic planning, financial forecasting, budgeting and management accounting

• established and identifiable organisational structures and reporting lines which are regularly reviewed

• comprehensive formal written policies

• clear authorisation limits

• vetting procedures, as required by law, for protection of the vulnerable

Financial risk management objectives and policies

The school uses financial instruments, other than derivatives, comprising loans, cash and other liquid resources and various other items such as trade debtors and creditors that arise directly from operations. The main purpose of these financial instruments is to raise finance for the group’s operations.

The main issues arising from the group’s financial instruments is liquidity risk. The school’s directors adopt policies for managing each of the risks and these are summarised below:

• Liquidity risk – the school seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs by partaking in pooled banking organised via the Woodard Corporation

GOING CONCERN

The governing body has continued to review any potential impact of the national economy, and particularly the impact of VAT on fees, on school operations and finances. School managers and governors continue to work hard to mitigate any potential financial impact reviewing costs and planning cashflow. With the transfer of the school’s activities into Shrewsbury School within the next twelve months, Prestfelde School Limited has prepared the financial statements on a basis other than going concern. No adjustments were required to the financial statements as a result of this

FUTURE PLANS

The Head and Council continue to refine the 2029 Centenary Strategic Plan to ensure that Prestfelde remains one of the largest and most successful Preparatory Schools in Shropshire and beyond.

We shall continue as a co-educational day and boarding school with a Nursery, Pre-Prep and Prep departments, for ages 3-13 years within the Shrewsbury Family of Schools. Our focus will be on sustaining the very high standard of academic work and achievement at the same time as enhancing our extracurricular opportunities.

The Strategic Pillars of the current plan are:

• Academic excellence focusing on individual progress and success

• Inspiring co-curricular programme for all pupils

• Culture of positive wellbeing & inclusion for pupils and staff

• Forward thinking leadership & governance

• Community engagement through positive and enduring relationships

14

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

DIRECTORS’ REPORT ( incorporating the Strategic Report ) YEAR ENDED 31 AUGUST 2025

• Sustainable investment to deliver inspiring and high-quality facilities.

DIRECTORS

The directors who served during the year, and the committees of which they are members, are:

Mr R P Sartain (Chairman)	F&GP, Education, Safeguarding, Health & Safety and
	Boarding, Education, Pastoral, SEN, and Spiritual,
	Strategic Development, Marketing, Communications &
	Fundraising, Remuneration, Nominations
Mr R M Jenkins BA(Hons) MBA	F&GP, Concessions, Remuneration, Audit.
Mr M N Holyoake BSc(hons) FGS	F&GP, Marketing, Communications and Fundraising,
ACMA CGMA	Strategic Development.
Mr D Tyack MA (Oxon)	F&GP, Safeguarding, Health & Safety and Boarding,
Mrs A J Thorn BA (Hons) MBE, DL	Marketing, Communications & Fundraising, Safeguarding,
	Health & Safety and Boarding, Remuneration.
Mr N L Winkley MA (Oxon) MEd	Education, Pastoral, SEN, and Spiritual.
(Open) PG Cert Bus Admin (Open)
Mr A J Barker FCA	F&GP, Concessions, Remuneration, Audit
Mrs H Fitzgerald MA (Oxon)	Education, Pastoral, SEN, and Spiritual
Mrs N Cooper BEd (Hons)	Education, Pastoral, SEN, and Spiritual, Safeguarding,
	Health & Safety and Boarding
Mr J Sharman Hons BCom	Marketing, Communications and Fundraising, Strategic
	Development.
Mr E Davies BA (Hons)	Education, Pastoral, SEN, and Spiritual
Ms A Stubbs BA (Hons)	Education, Pastoral, SEN, and Spiritual
Ms C Watson MA (Oxon)	Education, Pastoral, SEN, and Spiritual
Mr P Wood FCA	F&GP

None of the directors has any beneficial interest in the company. Prestfelde School buys trustees and officers insurance on behalf of the directors.

AUDITORS

Moore Kingston Smith LLP, having expressed their willingness to continue in office, will be deemed reappointed for the next financial year in accordance with section 487(2) of the Companies Act 2006 unless the company receives notice under section 488(1) of the Companies Act 2006.

15

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED DIRECTORS’ REPORT (incorporating the Strategic Report) YEAR ENDED 31[ST] AUGUST 2025

DIRECTORS’ RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Directors’ Report, the Strategic Report included within the Directors’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare group and company financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group and the company for that period.

In preparing each of the group and company financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP (FRS 102);

• make judgements and accounting 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 group and the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and the company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and the 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors confirm that:

• so far as each director is aware, there is no relevant audit information of which the charitable company’s auditor is unaware; and

• the directors have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Board of Directors of Prestfelde School on 08 June 2026 including, in their capacity as company directors, approving the Directors’ and Strategic Reports contained therein, and signed on its behalf by:

R P Sartain

CHAIRMAN

16

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF PRESTFELDE SCHOOL LIMITED YEAR ENDED 31 AUGUST 2025

Opinion

We have audited the financial statements of Prestfelde School Limited (the ’parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 August 2025 which comprise the Consolidated Statement of Financial Activities, the consolidated and Parent Charitable Company Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 group’s and the parent charitable company’s affairs as at 31 August 2025 and of the group’s incoming resources and application of resources, including its income and expenditure, 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 Companies Act 2006 and 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter- financial statements prepared on a basis other than going concern

We draw attention to note 1(b) to the financial statements which explains that the school has ceased to trade post year end and will be transferring net assets to Shrewsbury School therefore do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 1(b), Our opinion is not modified in respect of this matter.

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 there is 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.

17

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF PRESTFELDE SCHOOL LIMITED YEAR ENDED 31 AUGUST 2025

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the trustees’ annual report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 require us to report to you if, in our opinion:

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 15, 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 group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company 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 the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

18

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF PRESTFELDE SCHOOL LIMITED YEAR ENDED 31 AUGUST 2025

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the group and parent charitable company’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or parent charitable company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit report.

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.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

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 objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

19

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF PRESTFELDE SCHOOL LIMITED YEAR ENDED 31 AUGUST 2025

• We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are [the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council

• We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance.

• We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

• We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

• Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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 and, in respect of the consolidated financial statements, to the charity’s trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters which 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 any party other than the charitable company, the charitable company’s members, as a body, and the charity’s trustees, as a body, for our audit work, for this report, or for the opinion we have formed.

Date: 9/6/2026 Robert Kersse (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor 9 Appold Street London EC2A 2AP

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

20

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 31ST AUGUST 2025

	Notes	Unrestricted Funds	Restricted Funds	Total 2025	Total 2024
		£	£	£	£
Income and endowments from:
Charitable Activities
School fees receivable	2	4,843,237	-	4,843,237	4,936,101
Ancillary trading income	3	309,562	-	309,562	278,877
Other trading activities
Non-ancillary trading income	4	126,216	-	126,216	123,098
Investments
Bank and other interest	5	2	-	2	2,519
Voluntary sources
Grants and donations	6	-	-	-	-
TOTAL INCOMING RESOURCES	20	5,279,017	-	5,279,017	5,340,595
Expenditure on:
Raising funds
Net financing (income)/costs	7/8	79,529		79,529	17,365
			-
		79,529	-	79,529	17,365
Charitable Activities
Education and grant making	7	5,385,630	-	5,385,630	5,230,958
TOTAL EXPENDITURE		5,465,159	-	5,465,159	5,248,323
Net Movement in funds for the year		(186,142)	-	(186,142)	92,272
Fund balances at 1st September		4,547,172	-	4,547,172	4,454,900
FUND BALANCES AS AT 31ST AUGUST		4,361,030	-	4,361,030	4,547,172

21

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 31ST AUGUST 2025

Notes Income and endowments from: Charitable Activities School fees receivable 2 Ancillary trading income 3 Other trading activities Non-ancillary trading income 4 Investments Bank and other interest 5 Other - Grants and donations Grants and donations 6 Other incoming resources TOTAL INCOMING RESOURCES 20 Expenditure on: Raising funds Net financing (income)/costs 7/8 Charitable Activities Education and grant making 7 TOTAL EXPENDITURE Net Movement in funds for the year Fund balances at 1st September FUND BALANCES AS AT 31ST AUGUST	Unrestricted Funds £ 4,843,237 309,562 109,789 2 24,014 - 5,286,604 79,398 79,398 5,385,275 5,464,673 (178,069) 4,523,158 4,345,089	Restricted Funds £ - - - - - - - - - - - - - -	Total 2025 £ 4,843,237 309,562 109,789 2 24,014 -	Total 2024 £ 4,936,101 278,877 98,929 2,519 - -
			5,286,604	5,316,426
			79,398	17,260
			79,398 5,385,275	17,260 5,230,908
			5,464,673	5,248,168
			(178,069) 4,523,158 4,345,089	68,258 4,454,900
				4,523,158

All amounts relate to continuing activities. All recognised gains and losses in the current and prior year are included in the statement of financial activities. The notes on pages 26 to 50 form part of these financial statements.

22

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

CONSOLIDATED AND CHARITY BALANCE SHEETS

AS AT 31ST AUGUST 2025

Note FIXED ASSETS Tangible assets 12 Investments 13 CURRENT ASSETS Debtors 14 Cash at bank and in hand CURRENT LIABILITIES Creditors payable within one year 15 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES LONG TERM LIABILITIES Creditors payable after one year 16 TOTAL NET ASSETS EXCLUDING PENSION LIABILITY Net pension liability 22 NET ASSETS REPRESENTED BY: CALLED UP SHARE CAPITAL 18 RESTRICTED FUNDS 19/20 UNRESTRICTED FUNDS 19/20	Group 2025 2024 £ £ 5,085,581 5,175,288 - - 5,085,581 5,175,288 2,059,164 403,029 10,513 221,141 2,069,677 624,170 2,645,880 1,107,091 2,645,880 1,107,091 (576,203) (482,921) 4,509,378 4,692,367 107,040 119,990 4,402,338 4,572,377 41,208 25,105 4,361,130 4,547,272 100 100 - - 4,361,030 4,547,172 4,361,130 4,547,272	Charity 2025 2024 £ £ 5,085,581 5,175,288 100 100 5,085,681 5,175,388 2,068,469 396,753 1,129 211,716 2,069,598 608,469 2,661,842 1,115,403 2,661,842 1,115,403 (592,244) (506,934) 4,493,437 4,668,454 107,040 119,990 4,386,397 4,548,464 41,208 25,105 4,345,189 4,523,359 100 100 - 4,345,089 4,523,259 4,345,189 4,523,359	Charity 2025 2024 £ £ 5,085,581 5,175,288 100 100 5,085,681 5,175,388 2,068,469 396,753 1,129 211,716 2,069,598 608,469 2,661,842 1,115,403 2,661,842 1,115,403 (592,244) (506,934) 4,493,437 4,668,454 107,040 119,990 4,386,397 4,548,464 41,208 25,105 4,345,189 4,523,359 100 100 - 4,345,089 4,523,259 4,345,189 4,523,359
			5,175,388
			396,753 211,716
			608,469 1,115,403
			1,115,403
			(506,934)
			4,668,454 119,990
			4,548,464 25,105
			4,523,359
			100 - 4,523,259
			4,523,359

The financial statements were approved and authorised for issue by the Board on 08 June 2026 and signed on its behalf by

R P Sartain CHAIRMAN

Company registration number 05023969

23

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

CONSOLIDATED CASH FLOW STATEMENT

AS AT 31ST AUGUST 2025

Note Cash flows from operating activities: Net cash provided by operating activities 23 Cash flows from investing activities: Dividends, interest and rents from investments Proceeds from the sale of property, plant and equipment Purchase of property, plant and equipment Net cash (used in) investing activities Cash flows from financing activities: Financing costs Net cash (used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 24	2025 £'000 (126,986) 2 22,978 (74,669) (51,689) (79,529) (79,529) (258,204) 221,141 (37,063)	2024 £'000 362,438
		2,519 - (455,678)
		(453,159) (17,365)
		(17,365) (108,086) 329,227
		221,141

24

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

The principal accounting policies, all of which have been applied consistently throughout the year and in the preceding year are:

a) Basis of Accounting

The accounts of the group have been prepared under the Companies Act 2006 and in accordance with the Statement of Recommended Practice for Charities (‘SORP (FRS102)’) and with applicable UK Accounting Standards. They are drawn up on the historical cost accounting basis except that property and share investments held as fixed assets are carried at fair value.

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

The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. Further details are provided in note 31, and in the accounting policies for depreciation of fixed assets, for pensions and for bad debts. The financial statements are presented in sterling (£) and the functional currency is sterling (£).

b) Going Concern

As of 10 October 2025, the school has joined the Shrewsbury family of schools, with the assets, liabilities and business of the school transferring from Prestfelde School to Shrewsbury within the next twelve months at their carrying amounts. Therefore, the Prestfelde School entity has ceased to trade and the accounts have been prepared on a basis other than that of a going concern. No adjustments to the financial statements were required to be made as a result of this.

c) Group Accounts

The financial statements consolidate the financial statements of the company, and its subsidiary company, charitable trusts and funds with all inter-company balances being eliminated. Entities are consolidated where Prestfelde School exercises overall control either through ownership of shares, or through having common trustees with a common objective. Accounting policies are consistently applied between group companies.

d) School Fees Receivable and Similar Income

Fees receivable and other educational income are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions by the school, but include contributions received from restricted funds for scholarships, bursaries and other grants.

Debts are provided for if not recovered within one term. Estimating amounts to provide against recovery of debts is a matter of judgement.

e) Ancillary and Non-Ancillary Trading Income

Ancillary trading income represents amounts from activities to generate funds within the charitable objects, for example school shop sales, coaches to and from school and school trips. Non-ancillary trading income represents amounts from activities not directly related to the charitable objects, for example lettings of school facilities out of term time and rental from spare school buildings. Income from these activities is recognised in the Statement of Financial Activities when the goods are sold or services provided.

f) Voluntary sources, Grants and Donations

Voluntary incoming resources are accounted for as and when entitlement arises, the amount

25

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

can reliably be quantified, and the economic benefit is considered probable.

Voluntary income for general purposes is accounted for as unrestricted and is credited to the General Reserve. Where the donor or an appeal has imposed trust law restrictions, voluntary income is credited to the relevant restricted fund and incoming endowments are accounted for as permanent trust capital or expendable trust capital, according to whether the donor intends retention to be permanent or not. Gifts in kind are valued at estimated open market value at the date of gift, in the case of assets for retention or consumption, or at the value to the school in case of donated services or facilities.

g) Expenditure

Expenditure is accrued as soon as there is a contractual obligation or a liability is considered probable, discounted to present value for longer term liabilities. Expenditure is allocated to expense headings either on a direct cost basis or apportioned according to time spent. The irrecoverable element of VAT is included with the item of expense to which it relates. Bad debts are provided for in accordance with the group bad debt policy. The cost of refurbishing and converting existing buildings is written-off in the year in which it is incurred except where the useful life has been extended.

h) Finance and Other Costs

Bank interest payable is accounted for on an accruals basis. Other costs include amounts accrued in accordance with the terms of Fees in Advance Scheme Contracts.

i) Pension Costs

From September 2021 the school moved away from the Teachers’ Pension Scheme following consultation with staff. The school this year participated in the Royal London scheme, which is a defined contribution scheme, and The Pensions Trust scheme, both of which provide benefits based on career average pensionable pay. The funds of the schemes are separate from the company and so the pension costs are accounted for as defined contribution schemes.

The company offers membership of the Pensions Trust Growth Plan to employees other than the full-time academic staff. The Pensions Trust Growth Plan is a multi-employer pension scheme where the scheme assets are pooled for investment purposes and cannot be attributed to individual employers. Benefits are paid from the total scheme assets. It is in most respects a money purchase arrangement but has some guarantees. As a result, it is not possible or appropriate to identify the assets and liabilities of the scheme which are attributable to the company, though, due to the guarantees inherent in the scheme, the companies remain potentially liable for a debt on withdrawal from the scheme. In accordance with Financial Reporting Standard (FRS) 102 (section 28) therefore, the scheme is accounted for in a fashion which is similar to a defined contribution scheme.

The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises. More detail is given in notes 22 and 28.

j) Tangible Fixed Assets and Depreciation

In accordance with Section 35.10 (d) of FRS102, Prestfelde School has elected to use the carrying value of any of the above freehold land and buildings previously carried at a valuation, as their deemed cost at the date of transition to FRS102, 1 September 2014.

Tangible fixed assets are stated at cost less depreciation. Individual capital items, or projects, with a value greater than £10,000 are capitalised. Assets in the course of construction are stated at cost less any provision for impairment. They are transferred to completed assets when substantially all of the activities necessary to get the asset ready for use are complete. Where appropriate cost includes our own labour costs in relation to construction, and directly attributable overheads.

Where tangible fixed assets have been acquired with the aid of specific grants they are included in the balance sheet at cost and depreciated over their expected useful economic life. The related grants are credited to a restricted fixed asset fund (in the statement of financial activities and carried forward in the balance sheet). The depreciation on such assets is charged in the

26

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

statement of financial activities over the expected useful economic life of the related asset on a basis consistent with the depreciation policy.

Depreciation is provided at rates calculated to write off the cost, less estimated residual value of each asset based on current market prices, over its expected useful life, as follows:

Freehold land is not depreciated.

Freehold Buildings	- Buildings <50 years – 2% - 6.66% on cost
	- Buildings >50 years – 0.0074% on cost
	- Swimming pool – 2% on cost
	- Car Park/Cage – 10% on cost
Freehold improvements	- Over the useful economic life of the improvement
Leasehold land	- Over the shorter of the economic life of the asset or the
	life of the lease
Computer equipment	- 25% on cost
Telephone system	- 10% on cost
Fixtures and fittings	- 25% on cost
Motor vehicles	- 25% on cost

The company has reviewed its tangible assets, which comprise land, buildings and initial fixtures and fittings. The company undertakes an annual review of all buildings assessing their useful economic life. In some cases, the useful economic life of a building is anticipated to be of considerable length, often in excess of 100 years. The buildings are capitalised in the financial statements at historic cost. Where the calculated depreciation charge is a material figure, it is charged in these financial statements but, where the carrying value is not more than the estimated recoverable amount and the depreciation on the building is not material to these financial statements, it has been assessed, but not charged on the basis that it is not material. The directors will continue to carry out annual assessments of the recoverable amount and the estimated useful life of all buildings and where the depreciation is a material value, it will be charged. The review is based on the directors’ assessments of the market value and the future economic benefit derived from an asset versus its carrying value in the financial statements.

When the company undertakes a significant refurbishment project that will have an economic benefit, the cost of the refurbishment is capitalised, recorded separately under ‘Freehold Improvements’, its useful life is estimated, and it is depreciated over that useful life.

Prestfelde School exercises judgement in selection of appropriate rates for depreciation of fixed assets, and for matters of impairment.

k) Financial Instruments

Prestfelde School only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

l) Investments

Investments are carried at cost.

m) Leasing Commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight line basis over the lease term. Lease incentives are accounted for over the lease term on a straight-line basis.

n) Fee Deposits

Refundable fee deposits are currently classified between long term and short term in the financial statements. These deposits are refundable in the event that the pupils leave a school on one term's notice and as such the deposit would be refunded to the parents at that point. However, it is assumed that the majority of children will remain in school for their full years of education and therefore the deposit will be refunded to them when they leave school.

Short term deposits reflect those pupils that will be leaving a school within one year, and the

27

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

longer-term element reflects those pupils that will be leaving a school after 12 months from the balance sheet date.

o) Fund Accounts

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Designated funds comprise funds which have been set aside at the discretion of the directors for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

p) Taxation

Prestfelde School is a registered charity and as such are exempt from income tax and corporation tax under the provisions of Section 478 of the Corporation Tax Act 2010. There is no similar exemption for VAT, which is included in expenditure or in the cost of assets as appropriate.

Total Incoming Resources exclude VAT on taxable outputs and Total Expenditure excludes recoverable VAT. Irrecoverable VAT is included as a cost, where applicable.

The school has a subsidiary company that is subject to taxes including corporation tax and VAT in the same way as any commercial organisation. The tax charged to the profit and loss account is based on the subsidiary company’s profit for the year and takes into account tax arising because of timing differences between the treatment of certain items for tax and accounting purposes.

The subsidiary company distributes the majority of its profits to Prestfelde School under Gift Aid and tax liabilities are kept to a minimum.

q)

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

28

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

2. CHARITABLE ACTIVITIES - SCHOOL FEES RECEIVABLE

The school fees income comprises Gross fees Less: Total scholarships, bursaries and other discounts	2025 £ 5,333,884 (490,647) 4,843,237	2024 £ 5,355,851 (419,750)
		4,936,101

Scholarships, bursaries and other awards were paid to 141 pupils (2024: 150 pupils). Within this, means-tested bursaries totalling £203,451 were paid to 35 pupils (2024: £164,549 to 30 pupils)

3. CHARITABLE ACTIVITIES – ANCILLARY TRADING INCOME

Extras Entrance fees and registration fees Pupil transport Commissions and related income Sundry other income	2025 £ 249,857 4,808 30,057 1,812 23,028 309,562	2024 £ 209,673 5,600 18,622 1,127 43,855
		278,877

4. OTHER TRADING ACTIVITIES

Non-ancillary trading income Prestfelde Enterprise company trading turnover Management charge Lettings income Rents receivable Interest receivable - pupil bills Other non-ancillary trading income	2025 £ £ Group School 96,654 - - 80,227 9,081 9,081 2,400 2,400 2,133 2,133 15,948 15,948 126,216 109,789	2024 £ £ Group School 107,212 - - 83,043 - - 8,928 8,928 - - 6,958 6,958 123,098 98,929	2024 £ £ Group School 107,212 - - 83,043 - - 8,928 8,928 - - 6,958 6,958 123,098 98,929
			98,929

29

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

5. INVESTMENTS – BANK AND OTHER INTEREST RECEIVABLE – GROUP AND CHARITY

Unrestricted Bank interest 2 2 6. OTHER – GRANTS & DONATIONS Unrestricted Gift aid donation from trading subsidiary 24,014 24,014 7. ANALYSIS OF EXPENDITURE a) Total expenditure Charity Staff costs Support (note 9) Costs £ £ Costs of raising funds Financing cost (note 8) - 79,398 Total cost of generating funds - 79,398 Charitable expenditure Education Teaching 2,687,073 274,207 Welfare 32,223 429,447 Premises 436,330 518,819 School administration 412,896 284,071 Grants awards and prizes (note 7b) - 1,878 Movement in Pension Deficit Reduction - 16,103 Governance - 150,830 Education and grant making 3,568,522 1,675,355 Total Expenditure 3,568,522 1,754,753		Restricted - - Restricted - - Depreciation (Note 12) £ -			Total 2025 £ 2 2 Total 2025 £ 24,014 24,014 Total 2025 £ 79,398			Total 2024 £ 2,519 2,519 Total 2024 £ - - Total 2024 £ 17,260
		-			79,398			17,260
		25,486 47,974 67,938 - - - -			2,986,766 509,644 1,023,087 696,967 1,878 16,103 150,830			2,955,280 519,639 1,013,580 684,274 3,481 (17,879) 72,533
		141,398			5,385,275			5,230,908
		141,398			5,464,673			5,248,168

30

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

7. ANALYSIS OF EXPENDITURE – Continued

a) Total expenditure

Costs of raising funds Financing cost (note 8) Total cost of generating funds Charitable expenditure Education Teaching Welfare Premises School administration Grants awards and prizes (note 7b) Movement in Pension Deficit Reduction Governance Education and grant making Total Expenditure	Staff costs (note 9) £ - - 2,687,073 32,223 436,330 412,896 - - - 3,568,522 3,568,522	Group Support Depreciation Costs (Note 12) £ £ 79,529 - 79,529 - 274, 25,486 429,447 47,974 518,819 67,938 284,325 - 1,878 - 16,103 - 150,830 - 1,675,710 141,398 1,755,239 141,398	Total 2025 £ 79,529 79,529 2,986,867 509,644 1,023,087 697,221 1,878 16,103 150,830 5,385,630 5,465,159	Total 2024 £ 17,365
				17,365
				2,955,280 519,639 1,013,580 684,324 3,481 (17,879) 72,533
				5,230,958
				5,248,323

b) Grants, awards and prizes (group and charity)

Prestfelde School makes awards to individual families to support schooling.

From Unrestricted Funds: Other grants and awards Prizes and leaving awards	2025 2024 £ £ 1,878 3,481 1,878 3,481

31

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

c) Total resources expended include (Group and charity):

Prestfelde School reimburses governors for out-of-pocket expenses including travel subsistence and accommodation, where a claim is made. Nil trustees (2024 - NIL) were reimbursed during the year.

year.
Remuneration paid to auditor for audit services Remuneration paid to auditor for prior year Depreciation of tangible fixed assets: - owned by the Charitable Company Operating lease rentals: - other assets	2025 £ 20,000 9,172 141,398 69,735 240,305	2024 £ 22,000 90 132,955 45,149
		200,194

8. FINANCING COSTS

Bank charges Other finance costs Provision for bad and doubtful debts	2025 £ £ Group Charity 7,230 7,099 20,488 20,488 51,811 51,811 79,529 79,398	2024 £ £ Group Charity 3,793 3,688 2,019 2,019 11,553 11,553 17,365 17,260

32

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

9. STAFF COSTS – GROUP AND CHARITY

STAFF COSTS – GROUP AND CHARITY
The aggregate payroll costs for the year were: Wages and salaries Social security costs Other pension costs Private medical insurance	2025 £ 2,903,333 310,843 349,664	2024 £ 2,840,891 259,941 353,323
	4,682	2,359
	3,568,522
		3,456,514

Included in staff costs are redundancy or termination payments totalling £2,516 (2024: Nil). The amount outstanding at the year-end was £0 (2024: £0).

None of the governors received remuneration or other benefits from Prestfelde School or from any connected body.

The Head and Bursar are classed by the school as being the Key Management Personnel.

Aggregate employee benefits of key management personnel The number of higher paid employees whose annual emoluments were £60,000 or more was: £60,001 to £70,000 £120,001 - £130,000 The number with retirement benefits accruing: - in Defined Benefit schemes was Of which the contributions amounted to	2025 £ 236,715 2025 No 1 1 2 25,785	2024 £ 221,038
		2024 No 1 1 2 31,170

For 2025 there are NIL (2024: NIL) employees earning over £60,000 per year that have chosen not to participate in a pension scheme.

During the year a third-party consultant company was paid £38,750 for its services.

33

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

9. STAFF COSTS (Continued)

The average number of employees during the year calculated on a head count basis, was 103 (2024: 105)

(2024: 105)
Teaching Other activities	2025 No 68 35 103	2024 No 67 38
		105

10. DIRECTORS

None of the directors (or any persons connected with them) received any remuneration during the year. No scholarships were awarded to children of directors attending the school (2024: £0).

During the year, none of the group’s directors received reimbursement of travel and training expenses (2024: £0).

11. TAXATION

The company is a registered charity and therefore no liability to corporation tax arises on its charitable activities.

34

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

12. TANGIBLE FIXED ASSETS

Group and company Cost At 1stSeptember 2024 Additions Disposals Transfers At 31st August 2025 Depreciation At 1stSeptember 2024 Charge for the year Disposals At 31st August 2025 Net book value at 31st August 2025 Net book value at 31stAugust 2024	Freehold Land & Buildings £ 5,373,198 58,326 (22,978) - 5,408,546 497,969 67,940 - 565,909 4,842,637 4,875,229	Work in Progress £ 33,414 4,265 - - 37,679 - - - - 37,679 33,414	Plant & Equipment £ 489,755 - - - 489,755 273,621 47,973 - 321,594 168,161 216,134	Computer Equipment £ 188,470 12,078 - - 200,548 137,959 25,485 163,444 37,104 50,511	Total £ 6,084,837 74,669 (22,978) -
					6,136,528
					909,549 141,398 -
					1,050,947
					5,085,581
					5,175,288

All assets are used for charitable purposes.

There is £786,000 (2024: £786,000) of land included in freehold land and buildings.

Finance leases and hire purchase contracts

There are no assets under finance leases or hire purchase contracts in the year or preceding year

13. INVESTMENTS

Investment in subsidiary Company investments at 31 August	2025 £ 100 100	2024 £ 100
		100

Prestfelde School owns all of the share capital of Prestfelde School Enterprises Limited, a company incorporated in England/Wales. Further details are provided in note 26.

35

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

14. DEBTORS

School fees receivable Trade debtors Other debtors Prepayments and accrued income Staff Loans Amounts due from subsidiary company Amounts due from parent company	Group 2025 2024 £ £ 1,801,934 201,996 2,936 8,782 18,489 5,301 235,245 186,854 560 - - - - 96 2,059,164 403,029	Company 2025 2024 £ £ 1,801,934 201,996 1,056 2,416 18,499 5,311 235,245 186,854 560 - 11,175 - - 176 2,068,469 396,753	Company 2025 2024 £ £ 1,801,934 201,996 1,056 2,416 18,499 5,311 235,245 186,854 560 - 11,175 - - 176 2,068,469 396,753
			396,753

School fees receivable are net of £27,339 (2024: £27,339) provided for doubtful debts.

15. CREDITORS: amounts falling due within one year

Bank loans and overdrafts Other loans Deposits from parents Fees received from parents in advance of term Trade creditors Taxation and social security Other creditors Owed to subsidiary company Owed to parent company Accruals and deferred income	Group 2025 2024 £ £ 47,575 - 23,450 23,450 417,498 730,620 258,621 95,228 365,980 70,649 17,368 8,878 - - 11,245 - 1,504,143 178,266 2,645,880 1,107,091	Company 2025 2024 £ £ 47,575 - 23,450 23,450 417,498 730,620 258,621 95,228 382,021 70,649 17,368 8,878 - 8,312 11,165 - 1,504,143 178,266 2,661,842 1,115,403	Company 2025 2024 £ £ 47,575 - 23,450 23,450 417,498 730,620 258,621 95,228 382,021 70,649 17,368 8,878 - 8,312 11,165 - 1,504,143 178,266 2,661,842 1,115,403
			1,115,403

16. CREDITORS: amounts falling due after one year

Deposits from parents Fees in advance	Group 2025 2024 £ £ 107,040 119,990 - - 107,040 119,990	Company 2025 2024 £ £ 107,040 119,990 - - 107,040 119,990	Company 2025 2024 £ £ 107,040 119,990 - - 107,040 119,990
			119,990

36

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

Parents pay to the school a deposit of £500 in advance. The money may be returned subject to specific conditions on the receipt of one term’s notice. Assuming pupils all remain in the school (which the vast majority do based on historical information), refundable deposits are credited on bills when children leave the school.

There are debentures in place dated 5[th] June 2020 and 25[th] May 2022 with Barclays, including fixed and floating charges over assets as security for all debts and liabilities outstanding. At year end there were no such liabilities due to Barclays.

17. COMMITMENTS UNDER OPERATING LEASES

COMMITMENTS UNDER OPERATING LEASES
Within 1 year Within 1 to 5 years Over 5 years	Other 2025 £ 58,266 220,727 2,189 281,182	2024 £ 77,552 46,001 5,233
		128,786

18. SHARE CAPITAL

SHARE CAPITAL
	2025	2024
	£	£
Authorised
100 Ordinary Shares of £1 each	100	100
Allotted, called up and fully paid
100 Ordinary Shares of £1 each	100	100

37

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

19. FUNDS

Prestfelde School’s funds can be classed under unrestricted funds.

a) UNRESTRICTED FUNDS

Unrestricted funds represent accumulated income from the school’s activities and other sources that are available for the general purposes of the school.

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Net current assets/(liabilities) Long term liabilities Provision for Liabilities and Charges Tangible fixed assets Net current assets/(liabilities) Long term liabilities Provision for Liabilities and Charges	Unrestricted £ 5,085,581 (592,244) (107,040) (41,208) 4,345,089 Unrestricted £ 5,085,581 (576,203) (107,040) (41,208) 4,346,130	Charity Restricted Share Capital £ £ - - - 100 - - - - - 100 Group Restricted Share Capital £ £ - - - - - - - - - -	2025 £ 5,085,581 (592,144) (107,040) (41,208) 4,345,189 2025 £ 5,085,581 (576,203) (107,040) (41,208) 4,346,130	2024 £ 5,175,388 (506,934) (119,990) (25,105)
				4,523,359
				2024 £ 5,175,288 (482,921) (119,990) (25,105)
				4,547,272

38

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS – Continued

Prior Year Comparative

Tangible fixed assets Net current assets/(liabilities) Long term liabilities Provision for Liabilities and Charges Tangible fixed assets Net current assets/(liabilities) Long term liabilities Provision for Liabilities and Charges	Unrestricted £ 5,175,388 (507,034) (119,990) (25,105) 4,523,259 Unrestricted £ 5,175,288 (482,921) (119,990) (25,105) 4,547,272	Charity Restricted Share Capital £ £ - - - 100 - - - - - 100 Group Restricted Share Capital £ £ - - - - - - - - - -	2024 £ 5,175,388 (506,934) (119,990) (25,105) 4,523,359 2024 £ 5,175,288 (482,921) (119,990) (25,105) 4,547,272	2023 £ 4,852,665 (222,146) (132,435) (42,984)
				4,455,100
				2023 £ 4,852,565 (222,146) (132,435) (42,984)
				4,455,000

39

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

20. SUMMARY OF MOVEMENTS ON MAJOR FUNDS

Charity At 1 Sept Incoming Resources 2024 resources expended £ £ £ Unrestricted Funds General Reserve 4,523,259 5,286,604 (5,464,774) Total Funds 4,523,259 5,286,604 (5,464,774) Group At 1 Sept Incoming Resources 2024 resources expended £ £ £ Unrestricted Funds General Reserve 4,547,172 5,279,017 (5,465,159) Total Funds 4,547,172 5,303,031 (5,465,159) 21. CAPITAL COMMITMENTS At 31 August 2025, the group had capital commitments as follows: 2025 £ Expenditure contracted for but not provided in the accounts 21,307	At 31 August 2025 £ 4,345,089
	4,345,089
	At 31 August 2025 £ 4,361,030
	4,361,030
	2024 £ 100,000

40

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

22. PENSION SCHEMES

Royal London

Following a period of consultation, the school exited Teachers’ Pension Scheme. From 1 September 2021 the school has offered a Defined Contribution Scheme through Royal London for all teaching staff. The cost for the year represents the School’s contributions to the scheme of £291,474 (2024: £285,412).

Pensions Trust Growth Plan

The school participates in the TPT Retirement Solutions - The Growth Plan, which is a multiemployer scheme providing benefits to over 638 non-associated participating employers and the TPT Retirement Solutions – Independent Schools’ Pension Scheme for 51 non-associated independent schools. The schemes are defined benefit schemes in the UK. It is not possible for the school to obtain sufficient information to enable it to account for the schemes as a defined benefit scheme. Therefore, it accounts for it as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last man standing arrangement'. Therefore, the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

Summary of provision for pension deficit recovery plan

Summary of provision for pension deficit recovery plan
	Company
	2025	2024
	£’000	£’000
TPT Retirement Solutions - The Growth Plan	-	8

TPT Retirement Solutions - The Growth Plan Deficit Contributions

A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets of £514.9m, liabilities of £531.0m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present Values of Provision	2025	2024
	£	£
Present value of provision	-	7,620

41

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

22 . PENSION SCHEMES (Continued)

Reconciliation of opening and closing provisions

Provision at 1 September Unwinding of the discount factor Deficit contribution paid Remeasurements - impact of any change in assumptions Remeasurements - amendments to the contribution schedule Provision at 31 August Income and expenditure impact Interest expense Remeasurements - impact of any change in assumptions Remeasurements - amendments to the contribution schedule Contributions paid in respect of future service * Costs recognised in income and expenditure account	2025 £ 7,620 64 (7,684) - - 2025 £ 64 - - - -	2024 £ 24,822 915 (18,128) 11
		7,620
		2024 £ 915 11 - - -

*includes defined contribution schemes and future service contributions (i.e. excluding any deficit reduction payments) to defined benefit schemes which are treated as defined contribution schemes. To be completed by the company

	2025	2024
Assumptions
	% per	% per
	annum	annum
Rate of discount	4.37	5.13

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

42

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

22 . PENSION SCHEMES (Continued)

Deficit Contributions Schedule

The following schedule shows the deficit contributions agreed between the company and the scheme at each year end period:

		2025	2024
		£	£
Year	1	-	7,684

TPT Retirement Solutions – Independent Schools’ Pension Scheme

The company participates in the scheme, a multi-employer scheme which provides benefits to some 61 non-associated employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last man standing arrangement'. Therefore, the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out with an effective date of 30 September 2023. This actuarial valuation was certified on 11 December 2024 and showed assets of £99.2m, liabilities of £151.5m and a deficit of £52.3m. To eliminate this funding shortfall, the trustees and the participating employers have agreed that additional contributions will be paid, in combination from all employers, to the scheme as follows:

Deficit Contributions

From 1 September 2025 to 31 January 2034	£6,000,000 per annum (payable monthly and increasing by 3% on each 1stSeptember)

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2020. This valuation showed assets of £201.1m, liabilities of £256.3m and a deficit of £55.2m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

From 1 September 2022 to 30 June 2032	£2,687,000 per annum (payable monthly and increasing by 3% on each 1stSeptember)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present

43

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present Values of Provision 31 August 2025 (£s) Present value of provision 41,208 Reconciliation of opening and closing provisions Provision at start of period Unwinding of the discount factor (insert expense) Deficit contribution paid Remeasurements – impact of any changes in assumptions Remeasurements – amendments to the contribution table Provision at end of period Income and Expenditure Impact Interest expense Remeasurements – impact of any change in assumptions Remeasurements – amendments to the contribution table Assumptions Rate of discount	31 August 2024 (£s) 31 August 2023 (£s) 17,485 18,162 Period Ending 31 August 2025 (£s) Period Ending 31 August 2024 (£s) 17,485 18,162 763 979 (2,407) (2,337) (176) 681 25,543 -
	41,208 17,485
	Period Ending 31 August 2025 (£s) Period Ending 31 August 2024 (£s) 763 979 (176) 681 25,543 - 31 August 2025 % per annum 31 August 2024 % per annum 4.79 4.68

44

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

22 . PENSION SCHEMES (Continued)

Deficit Contributions Schedule

The following schedule shows the deficit contributions agreed between the company and the scheme at each year end period:

		2025	2024
		£	£
Year	1	5,325	2,407
Year	2	5,485	2,479
Year	3	5,649	2,553
Year	4	5,819	2,630
Year	5	5,993	2,709
Year	6	6,173	2,790
Year	7	6,358	2,874
Year	8	6,549	2,467
Year	9	2,811	-

The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

It is these contributions that have been used to derive the company's balance sheet liability.

23. RECONCILIATION OF NET (INCOME)/EXPENDITURE TO NET CASH INFLOW FROM OPERATING ACTIVITIES

Net income for the year (as per the statement of financial activities) Adjustments for: Depreciation charges Dividends, interest and rents from investments Financing costs (Increase)/Decrease in debtors Increase/(Decrease) in creditors Net cash operating activities	2025 £ (202,184) 141,398 (2) 79,529 (1,656,055) 1,510,328 (126,986)	2024 £ 92,272
		132,955 (2,519) 17,365 (117,006) 239,371
		362,438

45

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

24. ANALYSIS OF CASH AND CASH EQUIVALENTS

24. ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash at bank and in hand Total cash and cash equivalents 25. ANALYSIS OF CHANGES IN NET DEBT At 1 Sept 2024 £ Cash and cash equivalents Cash 221,141 Overdraft facility repayable on demand Total 221,141	Cash flows £ (221,141) (37,063) (258,204)	2025 £ (37,063) (37,063) Other non- cash changes £ - - -	2024 £ 221,141 221,141 At 31 August 2025 £ - (37,063)
			(37,063)

26. SUBSIDIARY

The Company owns all of the share capital of Prestfelde School Enterprises Limited, a company incorporated in England Company number: 05181895. This company commenced trading in September 2021.

Prestfelde School Enterprises Limited had a turnover of £96,654 (2024: £107,212), gross profit of £22,196 (2024: £46,088), and a loss before tax and gift aid of £4 in the year ended 31 August 2025 (2024: profit of £24,014). At 31 August 2025 the company had shareholder’s funds of £0 (2024: £24,014).

The company carries out lettings and rental activity on behalf of the school.

46

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

27. Consolidated Statement of Financial Activities – Comparative figures by fund type (Group)

Year Ended 31 August 2024 Income and endowments from Charitable activities School fees receivable Ancillary trading income Other trading activities Non-ancillary trading income Investments Bank and other interest Voluntary sources Grants and donations Total Incoming Resources Expenditure on: Raising funds Non ancillary trading Financing costs Total Deductible Costs Charitable activities Education and grant making Total Resources Expended Net movement in funds for the year Fund balances brought forward at 1st September Fund Balances at 31st August	Unrestricted £ 4,936,101 278,877 123,098 2,519 - 5,340,595 17,365 17,365 5,230,958 5,248,323 92,272 4,454,900 4,547,172	Restricted £ - - - - - - - - - - - - -	Total £ 4,936,101 278,877 123,098 2,519 - 5,340,595 17,365 17,365 5,230,958 5,248,323 92,272 4,454,900 4,547,172	2023 Total £ 4,743,388 275,276 125,664 - -
				5,144,328
				- (23,459)
				(23,459) 5,031,407
				5,007,948
				136,380 4,318,520
				4,454,900

47

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

28. CONTINGENT LIABILITIES

The Company has been notified by The Pensions Trust of the estimated employer debt on withdrawal from the Plan based on the financial position of the Plan as at 30 September 2020. As of this date the estimated employer debt for the Company was an estimated £178,380 (GP: £85,470 and ISPS £92,910), including Series 3 liabilities.

29. POST BALANCE SHEET EVENTS

On 10 October 2025, Prestfelde School Limited was acquired by Shrewsbury School registered charity number 528413. Shrewsbury School is an independent school for pupils age 13 to 18, which also encompasses Packwood and Terra Nova Schools , independent prep schools for pupils age 4 to 13, both based in Shropshire. The assets, liabilities and trade were transferred into Shrewsbury within the next twelve months.

30. ULTIMATE CONTROLLING PARTY

The Woodard Corporation Limited was the ultimate controlling party, a registered charity number 1096270, which is incorporated in England and Wales. Copies of the financial statements of the Woodard Corporation can be obtained from High Street, Abbots Bromley, Rugeley, Staffordshire, WS15 3BW. The accounts of Prestfelde School Limited are included within the consolidated financial statements of the Woodard Corporation Limited. Shrewsbury School, a registered charity number 528413 became the ultimate controlling party on 10[th] October 2025.

31. RELATED PARTIES

As stated in note 30, Prestfelde School Limited was a wholly owned subsidiary of The Woodard Corporation. The following costs were invoiced to the school by Woodard Corporation during the year.

Central Service Levy to meet running costs Other: Solution Services Walton Carpentry Stanton Ralph	2025 £ 34,024 - 4,950 1,440 40,414	2024 £ 33,793 13,140 5,750 -
		52,683

At 31 August 2025 £11,165 was due to Woodard Corporation (2024: £176 due from) This will be paid in full to Woodard Corporation during the new 2025/26 financial year.

Fees in Advance Commission Summer term Central Service Levy	2025 £ 176 (11,341) 11,165	2024 £ 176 -
		176

The company also controls a subsidiary trading company, Prestfelde School Enterprises Limited, (registered number 05181895). The company started trading from September 2021 and as at 31 August 2025 £11,175 (2024: £15,781) was owed by the subsidiary. Management charges for the year were £80,227 (2024: £83,043) and gift aid £24,010 (2024: £0).

48

Docusign Envelope ID: C83100FC-7177-8E52-80A5-287BDA3AC501

PRESTFELDE SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025

32. ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing the financial statements, the directors are required to make estimates and judgements. The matters detailed below are considered to be the most important in understanding the judgements that are involved in preparing the financial statements and the uncertainties that could impact the amounts reported in the results of operations, financial position and cashflows. Accounting policies are shown at note 1 to the financial statements.

Pension scheme deficit reduction payments

As explained at note 22, there is a deficit reduction plan in place in respect of Prestfelde School’s membership of the Pension Trust’s Growth Plan. FRS 102 requires a liability to be recognised in respect of the present value of future contributions payable under the terms of the deficit recovery plan. The incorporation of this liability in the financial statements involves the exercise of judgement in a number of areas, including the selection of an appropriate discount rate.

Pension scheme contingent liability

As explained at note 22, there is a contingent liability in the event that Prestfelde School were to withdraw its membership of the Pension Trust’s Growth Plan. The independent qualified actuaries advising the Pensions Trust in respect of the contingent withdrawal liability exercise significant judgement in determining the amount of that liability. Judgement is exercised in a number of areas, including future changes in salaries and inflation, mortality rates and the selection of appropriate discount rates.

Provision for bad debts

Debts are provided for if not recovered within one term. Estimating amounts to provide against recovery of debts is a matter of judgement.

Depreciation, impairment and residual values of fixed assets

Judgement is exercised in estimating the residual values of fixed assets, the selection of appropriate rates for depreciation, and for matters of impairment.

49