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← The Quest School

2025-07-31-accounts

Registered number: 04669567 Charity number: 1106112

The Quest School

(A company limited by guarantee)

Trustees' report and financial statements For the year ended 31 July 2025

The Quest School

(A company limited by guarantee)

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 11
Independent auditors' report on the financial statements 12 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 32

The Quest School

(A company limited by guarantee)

Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 July 2025

Trustees I S J Martin, Chair
L M Edmans, CBE (resigned 22 October 2024)
D J Bruce
P Whiteley (resigned 22 October 2024)
K Wilson (appointed 1 July 2025)
P C Mepsted
P Barnett
S Conway (resigned 15 May 2025)
D Baker (appointed 1 August 2024)
A Yip (appointed 1 August 2024)
Company registered
number
04669567
Charity registered
number
1106112
Registered office
Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ
Company secretary
A Carter-Mepsted
Independent auditors
Kreston Reeves Audit LLP
Statutory Auditor
Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ
Bankers
HSBC Bank plc
1-5 Week Street
Maidstone
Kent
ME14 1QW

Page 1

The Quest School

(A company limited by guarantee)

Trustees' report For the year ended 31 July 2025

The Trustees present their annual report together with the audited financial statements of The Quest School for the 1 August 2024 to 31 July 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The objectives are to advance the education of children with autism in particular by developing, maintaining, carrying on and managing a school. The Quest School is a registered charity, started by parents in 2003, to offer specialist education for children with autism, ranging in age from 5 to 19. Pupils at Quest are placed and funded by local authorities. The majority of pupils at the school are severely impacted by their autism. As a result, local authorities often experience difficulty in finding appropriate placements, and therefore require, for these pupils, the degree of autism specialism that is provided at Quest.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'

b. Main activities undertaken to further the Charity's purposes for the public benefit

In keeping with the aims of the charity, The Quest School successfully meets the needs of pupils who are severely impacted by autism, and for whom, as a result, local authorities experience difficulty in finding appropriate school placements.

There is significant public benefit arising from ensuring such pupils remain in a beneficial educational placement. The degree of autism specialism that is provided by Quest, and the outstanding progress made by its pupils, ensures that pupils, on leaving Quest, have a greater level of independence and appropriate functional skills for their adult lives.

Furthermore, by providing appropriate local education, it avoids the need for local authorities to place pupils with complex needs in expensive residential placements, which may be located geographically distant from families. Hence a placement at Quest often means that families are kept together.

Page 2

The Quest School

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 July 2025

Achievements and performance

a. Main achievements of the Charity

The Quest School started in 2003 with 3 pupils and has grown steadily since then. At the end of July 2025, the school had a total of 26 pupils and a staff of 33 (including some part-time staff).

The school provides a specialist learning environment, designed around the specific needs of pupils with autism, and uses a structured teaching approach built on the principles of behaviour science. The school has a proven track record of achieving excellent outcomes for its pupils, most of whom face very significant challenges due to the severity of their autism and learning disabilities.

The school has robust processes for measuring pupil progress, including referencing against national standards for academic progress for pupils with Special Educational needs. The data shows that pupils at Quest consistently make excellent progress.

The school places great importance on developing functional skills for pupils, in order to promote independence and improve their quality of life. Pupils’ individual learning programmes include development of skills in the following areas:

b. Key performance indicators

Ofsted Inspection September 2025

The most recent full Ofsted inspection in September 2025 judged the school to be Outstanding in every category, validating the accuracy and robustness of whole school self-evaluation processes, and whole school philosophy and endeavour of excellence and continuous improvement.

We were extremely proud of achieving this Outstanding rating from Ofsted; this was the fourth consecutive inspection in which we achieved the highest rating and means we have been graded as Outstanding since 2012.

History of Ofsted inspection ratings:

Quotes from the most recent Ofsted inspection report :

“Pupils truly thrive at this school. They feel very happy and safe. This is because staff make every effort to know each pupil and their needs individually.”

“Leaders have a strong, palpable vision for all pupils to learn the knowledge and skills that they need to function effectively as adults who make a positive contribution to society.”

“Enabling pupils to communicate effectively and to self-regulate their emotions sits at the school’s core.”

“Supporting pupils’ personal development is a particular strength. Through the life skills curriculum, pupils learn the knowledge that they need to live independently.”

Page 3

The Quest School

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 July 2025

Achievements and performance (continued)

Whilst graded Outstanding Quest still invests in further improvements. We reviewed the school’s reporting systems to improve parental engagement, support pupil progress through individualised review points and ensure better efficiency of workload for staff. The changes we made enabled documents to be collated and therefore quicker to produce and allowed for more flexible parent meetings to occur at timely points in relation to the pupils' annual reviews. Parents provided positive feedback regarding the changes that had been made. During the year, we also implemented supervision for the UKBAcert and Masters qualifications. This involved contextualising the new competency framework to align with how Quest operates and successfully implementing a more structured approach of delivery using both Supervisors and external UKBAcert consultants.

Key Performance Indicators (KPI's)

The school monitors Key Performance Indicators at Senior Leadership Team meetings, and at Boards of Management and Trustees. The whole school KPI's per month, reported to regular Board of Management and Trustee meetings include:

Safeguarding

The school has 3 fully trained Safeguarding Leads (one Lead & 2 deputies), and 3 staff trained in Safer Recruitment practices. All school staff (including office based team) undertake (at least) annual training in Safeguarding, including online safety.

One of the school’s Trustees is the designated Safeguarding Trustee, and joins the school Safeguarding team to undertake a comprehensive annual audit of Safeguarding policy and practices.

Staff are encouraged to report any safeguarding concerns, even if seemingly minor. These Record of Concerns are kept securely and confidentially, and monitored by the Safeguarding Leads. The number of concerns per month are reported to the Boards. If any subsequent action is required, such as a referral to Child Protection services, these decisions are taken by the Safeguarding Lead and Deputy. The number of referrals is also reported to the Boards.

Pupil roll

The number of pupils on roll has been maintained, with a small number of leavers and joiners. During 2024-25, there were 3 new pupil joiners. Challenges with ongoing staff recruitment (as mentioned below) as well as limited classroom space, impacted the number of new pupils we were able to admit.

The age profile remains positive, with greater numbers of younger pupils, likely to remain at the school for the entirety of their school life, hence providing a stable basis for their education and continued school growth. The designated pupil roll is 30 pupils.

Page 4

The Quest School

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 July 2025

Achievements and performance (continued)

Staffing

Leadership Transition:

The school has continued with its leadership succession with The Headteacher of more than 20 years retiring in July 2024. The new Co-Headteachers have been in post since September 2024.

Other staffing:

The school continues to employ high calibre staff as well as working with external consultants, Speech & Language Therapists and Occupational Therapists, in order to enhance the learning of all pupils. Staff receive training in ABA, as well as relevant statutory training including Safeguarding, First Aid and Fire Safety Awareness.

During 2024-25 in line with many others in the Special Needs Education sector (and many other sectors in the economy), the school experienced a continued challenge in the recruitment and retention of staff. There were periods of time during the year in which staffing fell below targeted levels.

c. Review of activities

Pupil Progress:

Pupil progress data for 2024-25 shows that pupils continued to make excellent progress. Below are some examples of individual progress.

Examples of pupil progress:

Pupil A: During the academic year 2024-2025, pupil A began to display an increasing level of aggressive behaviours towards staff (e.g., hitting, biting, scratching, hair pulling and grabbing others) and highly dysregulated episodes (i.e., screaming and throwing himself on the floor). It was assessed that triggers for these behaviours were seeing other pupils playing with toys in the playground and noise from the walkie talkies. These behaviours were highly impactful on staff and peers. The behaviours also restricted the amount of time pupil A could spend in the playground with other pupils and within locations outside of his classroom where he might hear the walkie talkie sound. Programmes to teach the pupil to tolerate other pupils playing with toys in the playground and to desensitise pupil A to noise from the walkie talkie, as well as desensitising pupil A to wearing ear defenders, were implemented. These programmes successfully increased the pupil’s tolerance for these events and in turn reduced the frequency of aggression and dysregulated episodes, as well as enabling him to remain more integrated within the school community.

Pupil B: During the academic year 2024-2025 pupil B began to refuse to transition around the school and cooperate with instructions. It was found some of these behaviours were triggered by the presence of other pupils who made unpredictable noises as well as general dysregulation, possibly linked to anxiety. Social stories were implemented to increase pupil B’s awareness of his peers, their feelings and why they may make certain noises. A transition protocol was also implemented which consisted of a visual schedule of who would be there and what he would be doing, a choice of locations to transition to if appearing anxious and to engage in ‘blue zone’ strategies as needed. Pupil B would also receive reinforcement when successful transitions were completed. By implementing this package of interventions, Pupil B was able to reduce the number of unsuccessful transitions and increase the number of successful transitions he completed. This, in turn, enabled Pupil B to successfully re-engage in his learning and community activities.

Page 5

The Quest School

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 July 2025

Achievements and performance (continued)

Curriculum development: the school works hard to continually improve and develop the provision for its pupils; hence there is an ongoing programme of development and innovation relating to pupils’ education.

During 2024-25, we developed group phonics lessons, to increase pupils’ generalised phonics knowledge and provide them with more opportunities to read and practice phonics. Over the year we increased the number of pupils learning phonics in a group setting by adding an additional 2 phonics classes to the timetable. Pupils have made significant progress in all 3 phonics groups. New whole school tracking of phonics levels demonstrates an increase in progress taking into account both individualised and group phonics lessons. Pupils are reading every day and being read to by adults every day. The implementation of a new reading assessment tool resulted in an increase in the accuracy of how we assess pupils' reading level.

By January 2025, all pupils' learning and behaviour programmes were successfully moved to ACE Digital. We have seen evidence of significant improvements in pupils’ progress whilst learning through ACE Digital compared to before the platform was introduced. 65% of pupils made better learning progress with target acquisition when using ACE Digital and the average % increase of target acquisition was 185%. Across the year we also saw a positive impact on staff workload with the platform enabling more efficient ways of working for staff.

d. Fundraising activities and income generation

During 2024-25 Quest received donations from a number of individuals, either as one-off gifts or by regular standing order payments. All donations have been used to enhance the educational provision and experience for Quest pupils.

During 2024-25, Trustees took the decision to increase pupil fees (for new pupils and pupils at Key Stage Transition points) by 5%, rather than the usual level of 2.5%. This was done in order to fund increases in employer National Insurance contributions and to aid recruitment and retention.

Stakeholder engagement:

In April 2025, one of the long-term supporters of Quest and a colleague successfully climbed Mt Toubkal in the Atlas Mountains, to raise funds for Quest (and another charity). There was also a fundraising dinner and auction in March 2025. In total, the challenge and fundraising dinner raised £18,104 for The Quest School.

Financial review

a. Going concern

For the year 2024-25 there was a total income of £1,616,435 and expenditure of £1,365,793 with total funds increasing to £1,689,836. The income included £18,380 from fundraising and donations.

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

The directors are pleased that numbers of pupils have remained healthy, with a small number of leavers and joiners during the year 2024-25, overall pupil roll was maintained at 26 pupils.

Page 6

The Quest School

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 July 2025

b. Reserves policy

The directors have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be sufficient to cover a range of potentially adverse scenarios, including winding up the charity should this be required in extremis. This latter amount, is currently estimated as being £514,500 which equates to approximately 4-5 months’ operating expenses.

At this level, the directors feel that they would be able, in the event of a significant drop in pupil numbers and associated funding, to adjust as necessary the current activities of the charity. These reserves should also be sufficient to perform a managed wind up. The Directors have identified that, in the event of a very significant drop in pupil numbers, a slow ‘wind up’ of the charity would be required, given the significant needs of the pupils, and the potential difficulty in securing alternative educational provision.

The Trustees have therefore ring fenced these reserves as a ‘Contingency Fund', leaving a designated fixed asset and future premises fund of £1,086,336. The future premises funds have been accumulated in anticipation of the planned expansion of premises, given that the current premises are at full capacity and approaching the end of their current lease.

As the property project progresses the trustees have made the decision to ring fence any spare unrestricted reserves from general funds at a pre-set limit of £35k and above. This will allow the charity to achieve a competitive advantage and act immediately if and when a suitable plot is identified.

The charity aims to manage any under or over provision of reserves over a rolling three year period. Any excess amounts will be deployed in benefiting the aims of the charity, namely through effective, good value educational provision for those impacted by autism.

c. Material investments policy

The directors invest surplus cash in deposit funds. The policy is to utilise risk free investments which therefore do not generate significant returns but which are secure and available at notice to provide funds as and when required.

d. Principal risks and uncertainties

The school’s funding comes from local authorities, on a pupil by pupil basis. Fees are set at the time of entry for each pupil and amended at each Transition stage. Additional fees are charged if pupils have extra provision specified within their EHCP, such as for provision of direct therapies. There is currently a fairly strong pipeline of pupil referrals, and all indicators from local authority strategy plans, is that the demand for educational places for pupils with ASD is continuing to increase.

The school’s main expenditure is on the teaching and support staff and these costs are determined by the number of pupils placed with the school.

There were some concerns related to the proposed introduction of VAT for independent schools. It was confirmed that VAT can be reclaimed by Local Authorities, and since January 2025 we have successfully implemented processes for charging and accounting for VAT.

We have been paying the new NI contributions over the last year. Our budget was amended accordingly.

There was some uncertainty regarding new Business rates for charities over the course of 2024-25. We have verified that we will remain exempt.

As previously stated, there is also an ongoing challenge in terms of recruitment and retention of high calibre staff. This is in line with issues experienced nationally, as unemployment remains at low levels.

Page 7

The Quest School

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 July 2025

e. Financial risk management objectives and policies

The school has a risk management strategy which comprises:

The school monitors its cash flows very carefully and has prepared projections, which show that the school will have sufficient resources to meet its liabilities as they fall due over the next twelve months.

f. Principal funding

The principal funding is income from the local authorities for the education of children with autism.

Structure, governance and management

a. Constitution

The Quest School is registered as a charitable company limited by guarantee. The governing document is the company memorandum and articles of association as amended by special resolution dated 2nd September 2004. The day to day management of the charity vests in the Board of Management (BoM), comprising 2 Trustees, the Co- Headteachers, The ex - Head Teacher and the Company Secretary. The BoM report to the independent Board of Trustees, which is responsible for ensuring that the charity is operated in accordance with the Charity Commission requirements

The Trustees meet at least three times a year to receive reports from the BoM and also engage directly with the School through an annual cycle of purposeful targeted visits linked to different areas of school monitoring, or to formal self evaluation monitoring meetings. The Trustees are recruited to provide a cross section of backgrounds to give a broad basis of experiences to the charity. Where required, the Trustees and Board of Management take input from a range of specialist individuals and organisations including for ABA, Speech & Language, Occupational Therapy, School Improvement Partner, IT, Legal, Accountancy, Health & Safety, HR & Employment matters.

b. Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

A Board Effectiveness review is planned for the next academic year.

A succession plan for the current Board of Trustees has previously been agreed, with a timeline for refreshing the Board members.

During 2024-25 three Trustees resigned. Laurie Edmans and Peter Whiteley had been Trustees since the commencement of the school and Susan Conway had reached the end of her term of commitment and was no longer able to maintain her commitment to the role. During the year, three new Trustees were elected, David Baker, Allan Yip and Katie Wilson.

The Board also agreed that Ian Martin and Peter Mepsted should continue in their respective roles of Chair and Deputy Chair.

Page 8

The Quest School

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 July 2025

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

Policy adherence and review:

The school maintains a regular cycle, monitored by the Board of Management, of reviewing all policies to ensure they remain current. Staff regularly sign a policy adherence confirmation to acknowledge that they comply with all school policies. Where any staff member had not complied with a particular aspect of policy, a log is made and appropriate action, such as additional coaching for staff, is implemented.

d. Policies adopted for the induction and training of Trustees

Induction of the new Trustee followed our usual induction process.

e. Staff pay matters

During 2019-20, the Board agreed to the introduction of two staff appreciation and retention initiatives: an enhanced pension contribution matching scheme and a non-contractual five year ‘retention incentive’ payment scheme. These schemes remain discretionary and are non-contractual.

In September 2021 a further scheme was introduced to reward new staff for their loyalty and dedication to Quest. New starters receive a payment of £1000 after 2 years’ service, to be paid the term following completion of 2 full years’ service. The schemes have been refined since then but retain the same broad parameters.

The Board believe these schemes have played a significant role in retaining the services of our talented and committed long- serving staff upon whom Quest is dependent for the achievement of high quality pupil outcomes, and enabling such committed and loyal staff to adequately prepare for retirement.

From time to time The Boards benchmark salary rates against available relevant comparators such as the broader educational sector and similar specialist schools.

f. Related party relationships

The charity was founded by a number of families who had children with autism, having established that the needs of their children were not being met by any facility in the area. Two of these families are still active in the charity. Ian Martin is the Chair. His wife, Anne Martin, NPQH (National Professional Qualification in Headship) retired as the Head Teacher in July 2024. From September 2024, new Co-Headteachers were appointed; Anne Martin remains on the Board of Management. Anne’s brother-in-law David Baker is a Trustee. Peter Mepsted is Director/Trustee and his wife, Ashley Carter Mepsted is the Head of Development & Projects. Peter also provides services to the school in relation to his occupation as a Health and Safety Consultant. All decisions relating to remuneration and employment of connected members of staff and consultants are taken by the Board of Trustees in their absence and in the absence of their spouses. Appropriate day to day operational controls and disclosures to Trustees are in place.

Plans for future periods

Future developments

During the year planning permission was denied for the plot of land on the Yalding site for a new build premises. An existing building on the same Yalding site was identified and deemed suitable for a potential new Quest school premises. Following granting of planning permission in July 2025, the purchase price was agreed between the developers and an investor to buy the plot and to provide the school with a 25-year lease. It is expected that contracts will be signed in 1Q2026. The school will fund the fit-out using the accumulated designated property fund and grants. A Premises Trustee subcommittee has been established to oversee the project.

Page 9

The Quest School

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 July 2025

Premises developments

The School operates from The Hop Farm at Paddock Wood and during the year we have continued our programme of ongoing redecoration and repairs to enable the continuing enhancement of the facilities for both pupils and staff.

The lease is on an annual renewable basis, pending a move to new, long term premises.

Improvements to IT infrastructure

During 2024-25, the school embedded a new digital system for tracking individual pupils’ learning and behaviour progress. This was supported by the purchase of new ipads for each pupil at the school. A strategic review of the school’s IT infrastructure is underway with a view to making enhancements as part of the move to new premises.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

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

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Page 10

The Quest School

(A company limited by guarantee)

Trustees’ report (continued)

For the year ended 31 July 2025

Auditors

The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the company on 6 October 2025.

The auditors, Kreston Reeves Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on behalf by:

¢ P C Mepsted (Trustee)

|S J Martin

(Chair of Trustees)

and signed on their

Page 11

The Quest School

(A company limited by guarantee)

Independent auditors' report to the Members of The Quest School

Opinion

We have audited the financial statements of The Quest School (the 'charitable company') for the year ended 31 July 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 12

The Quest School (A company limited by guarantee)

Independent auditors' report to the Members of The Quest School (continued)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 13

The Quest School (A company limited by guarantee)

Independent auditors' report to the Members of The Quest School (continued)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud

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

Page 14

DRAFT

3/2/2026 15:16

The Quest School

(A company limited by guarantee)

Independent auditors' report to the Members of The Quest School (continued)

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

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

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Kreston Reeves Audit LLP

Kreston Reeves Audit LLP

Statutory Auditor Maritime Place Quayside Chatham Maritime Chatham Kent ME4 4QZ

Date: 26 February 2026

Kreston Reeves Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 15

The Quest School

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 July 2025

Note
Income from:
Donations and legacies
4
Charitable activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
18,380
1,540,448
57,607
1,616,435
2,348
1,363,445
1,365,793
250,642
1,439,194
250,642
1,689,836		 Total
funds
2025
£
18,380
1,540,448
57,607
1,616,435
2,348
1,363,445
1,365,793
250,642
1,439,194
250,642
1,689,836		 Total
funds
2024
£
21,401
1,397,110
55,610
1,474,121
-
1,267,951
1,267,951
206,170
1,233,024
206,170
1,439,194

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 19 to 32 form part of these financial statements.

Page 16

The Quest School

(A company limited by guarantee) Registered number: 04669567

Balance sheet

As at 31 July 2025

2025 2024
Note £ £
Fixed assets
Intangible assets 11 1,398 2,041
Tangible assets 12 12,754 15,038
14,152 17,079
Current assets
Debtors 13 15,991 13,053
Investments 14 1,100,000 1,100,000
Cash at bank and in hand 593,540 374,128
1,709,531 1,487,181
Current liabilities
Creditors: amounts falling due within one
year 15 (33,847) (65,066)
Net current assets 1,675,684 1,422,115
Total net assets 1,689,836 1,439,194
Charity funds
Restricted funds 16 E: =
Unrestricted funds 16 1,689,836 1,439,194
Totalfunds 1,689,836 1,439,194

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on on their behalf by:

==> picture [48 x 10] intentionally omitted <==

----- Start of picture text -----
and signed
----- End of picture text -----

==> picture [332 x 44] intentionally omitted <==

----- Start of picture text -----
< \
1S J Martin P C Mepsted
(Chair of Trustees) (Trustee)
----- End of picture text -----

The notes on pages 19 to 32 form part of these financial statements.

Page 17

The Quest School

(A company limited by guarantee)

Statement of cash flows For the year ended 31 July 2025

Cash flows from operating activities
Net cash used in operating activities (see note 18)
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Net cash provided by investing activities
Cash flows from 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
The notes on pages 19 to 32 form part of these financial statements		 2025
£
163,173
57,607
(1,368)
56,239
219,412
374,128
593,540		 As restated
2024
£
157,215
55,610
(2,367)
53,243
210,458
163,670
374,128

Page 18

The Quest School

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

1. General information

The Quest School is a charity and a company limited by guarantee incorporated in England. The charity's registered office is Maritime Place, Quayside, Chatham Maritime, Chatham, Kent, ME4 4QZ. The principal activity of the charity is to provide specialist, individualised education services to children with autism.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Quest School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Company Status

The charity is a company limited by guarantee. The members of the charity are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

2.3 Going concern

The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

2.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Page 19

The Quest School

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

2. Accounting policies (continued)

2.5 Expenditure (continued)

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.8 Intangible assets and amortisation

Intangible assets costing £1000 or more are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Computer software - 33 % 3 year Straight Line

Page 20

The Quest School (A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

2. Accounting policies (continued)

2.9 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance method..

Depreciation is provided on the following bases:

Long-term leasehold property - Over term of lease
Motor vehicles - 20% reducing balance
Fixtures and fittings - 25% reducing balance
Computer equipment - 33% straight line

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and 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.

2.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.13 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 21

The Quest School

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

2. Accounting policies (continued)

2.14 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straightline basis over the lease term.

2.15 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Tangible fixed assets

The charity has recognised tangible fixed assets with a carrying value of £12,754 (see note 12). These assets are stated at their cost less provision for depreciation and impairment. The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful economic lives and residual values are re- assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Page 22

The Quest School (A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

3. Critical accounting estimates and areas of judgment (continued)

Critical areas of judgment:

The charity has entered into a range of lease commitments in respect of property and equipment. The classification of these leases as either financial or operating leases requires the Trustees to consider whether the terms and conditions of each lease are such that the charity has acquired the risks and rewards associated with the ownership of the underlying assets.

4. Income from donations and legacies

Donations
Legacies
Total 2024		 Unrestricted
funds
2025
£
16,118
2,262
18,380
21,401		 Total
funds
2025
£
16,118
2,262
18,380
21,401		 Total
funds
2024
£
21,401
-
21,401

5. Income from charitable activities

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Educational operations 1,540,448 1,540,448 1,397,110

6. Investment income

Deposit account interest
Total 2024		 Unrestricted
funds
2025
£
57,607
55,610		 Total
funds
2025
£
57,607
55,610		 Total
funds
2024
£
55,610

Page 23

The Quest School

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

7. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Fundraising Expenses 2,348 2,348 -

8. Analysis of expenditure by activities

Educational operations
Total 2024		 Activities
undertaken
directly
2025
£
1,217,009
1,103,789		 Support
costs
2025
£
146,436
164,162		 Total
funds
2025
£
1,363,445
1,267,951		 Total
funds
2024
£
1,267,951

Analysis of direct costs

Staff costs
Educational supplies and activities
Staff development and recruitment
Educational consultancy
Curriculum development
Postage and stationery
Other consultancy
Total 2025
Total 2024		 Educational
operations
2025
£
1,108,421
4,743
27,652
27,034
2,747
10,612
35,800
1,217,009
1,103,789		 Total
funds
2025
£
1,108,421
4,743
27,652
27,034
2,747
10,612
35,800
1,217,009
1,103,789		 Total
funds
2024
£
1,010,262
3,426
20,001
14,235
2,898
14,069
38,898
1,103,789

Page 24

The Quest School (A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation
Insurance
Rent and rates
Light and heat
Repairs and renewals
Cleaning costs
Telephone
Postage and stationery
IT expenditure
Legal and professional
Statutory enquiries
Accountancy
Travel costs
Other support costs
Total 2025
Total 2024		 Educational
operations
2025
£
4,295
5,587
44,880
13,647
15,519
2,819
3,491
2,272
33,622
3,157
4,564
10,135
2,152
296
146,436
164,162		 Total
funds
2025
£
4,295
5,587
44,880
13,647
15,519
2,819
3,491
2,272
33,622
3,157
4,564
10,135
2,152
296
146,436
164,162		 Total
funds
2024
£
4,892
5,525
44,880
15,765
12,373
13,358
3,800
2,682
40,421
2,401
4,348
11,829
1,767
121
164,162

During the year ended 31 July 2025, the charity incurred the following Governance costs:

£1,647 (2024 - £1,922) included within the table above under Accountancy, in respect of Accountancy fees.

£8,488 (2024 - £9,907) included within the table above under Accountancy, in respect of Audit fees.

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
953,724
95,530
59,167
1,108,421		 2024
£
877,038
75,882
57,342
1,010,262

Page 25

The Quest School

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

9. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

Management
Administration
Teaching		 2025
No.
4
3
31
38		 2024
No.
4
3
32
39

No employee received remuneration amounting to more than £60,000 in either year.

The total employee benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the charity was £297,867 (2024: £281,759), of which £28,966 (2024: £25,314) was employer national insurance contributions.

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 July 2025, no Trustee expenses have been incurred (2024 - £NIL).

11. Intangible assets

Cost
At 1 August 2024
At 31 July 2025
Amortisation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Computer
software
£
3,500
3,500
1,459
643
2,102
1,398
2,041

Page 26

The Quest School (A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

12. Tangible fixed assets

Cost or valuation
At 1 August 2024
Additions
At 31 July 2025
Depreciation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Motor
vehicles
£
16,000
-
16,000
7,296
1,741
9,037
6,963
8,704		 Fixtures and
fittings
£
43,748
1,368
45,116
37,414
1,911
39,325
5,791
6,334		 Computer
equipment
£
18,615
-
18,615
18,615
-
18,615
-
-		 Leasehold
improvements
£
230,920
-
230,920
230,920
-
230,920
-
-		 Total
£
309,283
1,368
310,651
294,245
3,652
297,897
12,754
15,038

13. Debtors

Due within one year
Other debtors
Prepayments and accrued income		 2025
£
2,595
13,396
15,991		 2024
£
-
13,053
13,053

14. Current asset investments

2025 2024
£ £
Fixed term deposit 1,100,000 1,100,000

Page 27

The Quest School (A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

15. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Statement of funds
Statement of funds - current year
Balance at 1
August 2024
£
Unrestricted funds
Designated funds
Designated fixed asset and
property fund
821,194
General funds
General Fund
35,000
Contingency Fund
520,000
Staff retention fund
63,000
618,000
Total Unrestricted funds
1,439,194		 Income
£
-
1,616,435
-
-
1,616,435
1,616,435		 Expenditure
£
-
(1,365,793)
-
-
(1,365,793)
(1,365,793)		 2025
£
1,322
26,327
-
6,198
33,847
Transfers
in/out
£
265,142
(250,642)
(5,500)
(9,000)
(265,142)
-		 2024
£
22,957
26,409
8,680
7,020
65,066
Balance at
31 July 2025
£
1,086,336
Unrestricted funds
Designated funds
Designated fixed asset and
property fund
General funds
General Fund
Contingency Fund
Staff retention fund
Total Unrestricted funds
35,000
514,500
54,000
603,500
1,689,836

16. Statement of funds

Designated fixed asset and property fund - A prospective site for new premises for the school has been identified; the building will require fairly significant renovation. Planning permission (for change of use to Educational) was granted in July 2025, and the purchase price has been agreed between the developers and an investor to buy the plot and to provide the school with a 25-year lease. It is expected that contracts will be signed in 1Q2026. The school will fund the fit-out using the accumulated designated property fund and grants. A Premises Trustee subcommittee has been established to oversee the project.

Page 28

The Quest School (A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

16. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Designated fixed asset and
property fund
General funds
General Fund
Contingency Fund
Staff retention fund
Total Unrestricted funds		 Balance at
1 August
2023
£
710,014
35,010
435,000
53,000
523,010
1,233,024		 Income
£
-
1,474,121
-
-
1,474,121
1,474,121		 Expenditure
£
-
(1,267,951)
-
-
(1,267,951)
(1,267,951)		 Transfers
in/out
£
111,180
(206,180)
85,000
10,000
(111,180)
-		 Balance at
31 July 2024
£
821,194
35,000
520,000
63,000
618,000
1,439,194

17. Analysis of net assets between funds Analysis of net assets between funds - current year

Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2025
£
12,754
1,398
1,709,531
(33,847)
1,689,836		 Total
funds
2025
£
12,754
1,398
1,709,531
(33,847)
1,689,836

Page 29

The Quest School (A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

17. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
15,038
2,041
1,487,181
(65,066)
1,439,194		 Total
funds
2024
£
15,038
2,041
1,487,181
(65,066)
1,439,194

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Dividends, interests and rents from investments
Increase in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities		 2025
£
250,642
3,652
643
(57,607)
(2,938)
(31,219)
163,173		 2024
£
206,170
3,725
1,167
(55,610)
(303)
2,066
157,215

19. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2025
£
593,540
593,540		 As restated
2024
£
374,128
374,128

Page 30

The Quest School

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

20. Analysis of changes in net debt

Cash at bank and in hand
Liquid investments		 At 1 August
2024
£
374,128
1,100,000
1,474,128		 Cash flows
£
219,412
-
219,412		 At 31 July
2025
£
593,540
1,100,000
1,693,540

21. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £59,167 (2024 - £57,342). Contributions totalling £Nil (2024 - £8,680) were payable to the fund at the balance sheet date and are included in creditors.

22. Operating lease commitments

At 31 July 2025 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2025
£
34,312
1,442
35,754		 2024
£
34,443
2,153
36,596

Page 31

The Quest School (A company limited by guarantee)

Notes to the financial statements For the year ended 31 July 2025

23. Related party transactions

A E Martin, spouse of I S J Martin, a trustee, is employed by the charity as Principal. A E Martin’s employment continues in open competition and I S J Martin is not involved in decision's relating to performance review and terms of employment. A E Martin is paid within the normal pay scale for her role and receives no special treatment as a result of her relationship to a trustee.

A Carter-Mepsted, spouse of P C Mepsted, a trustee, is employed by the charity as Head of Development and Projects. A Carter-Mepsted’s employment continues in open competition and P C Mepsted is not involved in decisions relating to performance review and terms of employment. A Carter-Mepsted is paid within the normal pay scale for her role and receives no special treatment as a result of her relationship to a trustee.

L Duvall, sister of A Carter-Mepsted and P C Mepsted, a trustee, is employed by the charity as the Finance Manager. L Duvall’s employment continues in open competition and neither A Carter-Mepsted or P C Mepsted are involved in decisions relating to performance review and terms of employment. L Duvall is paid within the normal pay scale for her role and receives no special treatment as a result of her relationship to a trustee.

P Mepsted, a trustee of the charity, invoiced the charity £45,400 (2024: £35,002), for the provision of property, health and safety and other consultancy services.

P Barnett, a trustee of the charity, invoiced the charity £1,470 (2024: £1,400) for the provision of school improvement services.

All of the above transactions were approved by the Board of Trustees and are documented in the Trustees minutes.

Page 32