2025-08-31-accounts

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RISHWORTH SCHOOL

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Charity registered number: 1115562 Registered Company number: 05855479 (England & Wales)

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CONTENTS

Legal and Administrative Information	2-3
Annual Report of the Governors	4-23
Parent Statement of Financial Activities	24-25
Consolidated Statement of Financial Activities	26-27
Parent Balance Sheet	28
Consolidated Balance Sheet	29
Consolidated Cash Flow Statement	30
Notes forming part of the Financial Statements	31-49
Independent Auditors’ Report	50-54

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

Reference and Administrative Information

Charity Name Rishworth School Charity Registration Number 1115562 Company Registration Number 05855479 Registered Office and Operational Address Rishworth School Rishworth England HX6 4QA Operational address for Rishworth Preparatory School Rishworth Preparatory School Rishworth HX6 4QF Web Address www.rishworth-school.co.uk

Governors

The Governing Body comprises the Governors, who are also the charity trustees and directors of the charitable company. Governors are appointed by the existing Governors following a resolution of the Board. The Articles of Association provide for a minimum of three Governors. The Governors who served during the year are listed below.

Reverend Canon H Barber (Chair) Dr F J Ellam (joint Vice Chair) (resigned 06/10/2025) Mrs M Garbett (joint Vice Chair) Mr T M Wheelwright (resigned 22/05/2025) Mr C Bell (passed away 19/06/2025) Mr B H Moore Mr O Handley (appointed 05/03/2025) Mrs E Davies (parent Governor) (appointed 23/05/2025) Mrs E Dinnis (parent Governor) (appointed 23/05/2025 / resigned 09/02/2026) Mrs J Kaye (parent Governor) (appointed 23/05/2025) Mr R O’Toole (appointed 03/03/2026)

Officers

Head - Mrs J Sheldrick appointed 01/09/2024 and due to resign on 31/08/2026 - Mr T Bayley due to be appointed on 01/09/2026 Clerk to the Governors and Company Secretary - Miss A Blacker appointed 01/09/2024 / resigned 17/03/2026 Director of Finance and Operations - Mrs L Twigg appointed 20/01/2025

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

Bankers	Lloyds TSB Bank Plc
	14/16 High Street
	Huddersfield
	West Yorkshire HX1 2LE
Solicitors	Schofield Sweeney
	Springfield House
	76 Wellington Street
	Leeds
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	LS1 2AY
Auditors	Streets Audit LLP
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Investment Advisors	Titan Private Wealth Limited
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	HG3 1GY

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

The Governors are pleased to present their Annual Report for the 12 month period ended 31[st] August 2025, together with the audited financial statements for the year. The Governors’ report contains a group director’s report relating to the company and the subsidiary. We confirm that the financial statements comply with the requirements of the Charities Act 2011, the Trust Deed, the Charities SORP (FRS 102) and the Companies Act 2006. The Governors have complied with the duty in Section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission, including public benefit guidance.

1. Accounting Period

The Company was incorporated on 22[nd] June 2006. Activity commenced through this Company on 1[st] August 2006, as explained in section 3 below.

2. Executive Summary

The 2024/25 financial year was a period of significant challenge and strategic transformation for Rishworth School. The School reported a deficit of £442,895 while maintaining a strong cash position of £2.2 million, providing stability as Governors responded to the considerable pressures facing the independent school sector, including VAT on fees, the removal of business rates relief, increasing employment costs and changing patterns of pupil recruitment and retention. In response, Governors completed a comprehensive strategic review and implemented a range of measures to secure the School's long-term future, including the closure of the Preparatory School, the planned disposal of non-core assets, restructuring of staffing and operations, curriculum and marketing reviews, investment in boarding and sports facilities, and actions to reduce future pension liabilities. These measures form part of a robust three-year recovery plan, with the financial and operational benefits to be delivered progressively over that period rather than immediately. Consequently, FY26 is expected to remain a transitional year and is likely to report a further deficit, reflecting one-off restructuring and redundancy costs, together with the timing lag between implementing cost reduction initiatives and receiving the proceeds and ongoing benefits from planned asset sales. To support this transition, the School has secured an additional funding facility which provides liquidity for investment and operational requirements ahead of asset sale receipts and serves as a prudent contingency to strengthen reserves and resilience against any further unexpected microeconomic or macroeconomic pressures affecting the sector. The Governors remain confident in the School's ability to return to a sustainable financial footing over the medium term.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

3. Reference and Administrative Details

The School was originally founded in 1724 and registered as a charity with the Charities Commission under a scheme dated 30 July 1928 and as amended by subsequent schemes made on 13 November 1953, 28 August 1968 and 26 July 2006. On 31 July 2006 the expendable assets of the Rishworth School Trust (529161) were transferred to Rishworth School, a company limited by guarantee (Company Number 05855479) and registered with the Charities Commission under Charity Number 1115562. Under a direction made by the Charities Commission on 26 July 2006, Rishworth School Trust and its remaining associated funds (Rishworth School Trust, The Stocks Prize, Gaukrodger Scholarship, The Mabel and Dorothy Fielding Scholarship and The Cockcroft and Wadsworth Scholarship) are to be treated as forming part of the Charitable Company for the purposes of Part IV (registration) and Part VIII (accounting) of the Charities Act 2011. The Rishworth School Governors, executive officers and principal addresses of the Charitable Company are as listed on page 2. Particulars of the Charitable Company’s professional advisers are given on page 3.

Rishworth School Trading Limited (06637465) is a wholly owned subsidiary of Rishworth School Limited (1115562). Their accounts for the 12 month period ended 31 August 2025 are consolidated into these financial statements. The principal activity of the Company is the provision of sports facilities with the company making a positive contribution to the School’s reserves.

4. Structure, Governance and Management

Governing Document

Rishworth School, a company limited by guarantee, is governed by Memorandum and Articles of Association incorporated on 22 June 2006 and registered as a Charity on 25 July 2006. Rishworth School is the sole trustee of Rishworth School Trust which is governed by its Trust Deed constituted under a revised scheme made in 1928 (amended 1953, 1968 and 2006).

Structure of the Schools

Rishworth School provides education for pupils between the ages of 3 and 18 years. Pupils aged between 3 and 11 are educated at Rishworth Preparatory, the Preparatory School to Rishworth School, (referred to, prior to April 2025 as “Heathfield”). Rishworth Preparatory also incorporates a Nursery for pupils aged between 3 and 4 years. The Senior School (referred to as “Rishworth”) caters for pupils between the ages of 11 and 18.

Governing Body

The Charitable Company is led by a Governing Body whose members are listed on Page 2 of this document.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

4. Structure, Governance and Management (Continued)

Recruitment and Training of Governors

Our aim is to have and, as a vacancy arises, to recruit, responsible people who are actively interested in our Charitable Company and who can give the necessary time commitments. New Governors are inducted into the workings of the Charitable Company, including board policy and procedures. On-going training, including annual safeguard training and biannual Prevent training, is provided through external and internal training courses, through the observation of normal school operations and attendance at school events.

Organisational Management

Governors are appointed for a term of three years and are eligible for re-election at the end of that time. The Governors, who set the overall policy for the running of the School, in consultation with the Head and Senior Leadership Team, hold board meetings usually four times a year, with an annual strategy day taking place annually in January.

In addition to the main Governing Body there are sub committees which meet regularly and report to the full Governing Body meetings. The current subcommittee structure is as follows: Quality of Education and Safeguarding & Pastoral Marketing & Admissions Finance, Business, Audit & Risk Joint Consultative and Negotiation Committee

Risk Management

The Board of Governors holds overall responsibility for management of the risks faced by the School. The Board of Governors appoint executives to which day-to-day management of these risks is delegated. Risks have been identified and are regularly reviewed through the Sub Committee structure and the Risk Register.

The key Risk Areas which have been identified and are managed through the risk management process at Sub Committee level are as follows:

 Quality of Education

Curriculum Structure and Quality Exam Board centre approval Progress & Performance Complaints & Concerns SEND Staff CPD Student careers advice PSHCE including RSE and RE

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

4. Structure, Governance and Management (Continued)

British Values, Spiritual, Moral, Social and Cultural Development Enrichment and Extension

Stretch and Challenge of All Students

 Safeguarding & Pastoral

Complaints and Concerns Equal Opportunities and Protected Characteristics Student Experience and Voice Staff and student wellbeing and attendance E-safety Safeguarding including Trafficking Antibullying Boarding and NMS Single Central Register

 Marketing & Admissions

School Roll Internal Activity – Retention External Activity – Recruitment Rishworth International Football Academy Resourcing Equal Opportunities UKVI License

 Finance & Business, Audit & Risk

Management Accounts Cash Flow & Budgets Fee Rates Staffing Costs & Other Expenditure Capital Expenditure and Operational Expenditure Human Resources Financial Reporting Legislative or Political Policy Changes Asset Register Internal Controls & Risk Management Systems Whistleblowing & Fraud External Audit including ISI inspection covering EYFS and NMS and HSE Reporting Responsibilities Statutory Testing

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

4. Structure, Governance and Management (Continued)

VAT and other economic risks Employment costs Site Inspection and facilities GDPR Staff skills and capacity Stakeholders

• Joint Consultative and Negotiation Committee Consultation and Negotiation with National Educational Union

The School is forward facing in its view of the turbulence facing the Independent School sector including the political threats, economic and macro influences. A strategic development plan has been agreed to look to maximise revenue streams through use of assets, diversification and student recruitment.

Pay and Remuneration of Key Management Personnel

The review and setting of remuneration for key management personnel is undertaken annually by the Governors. Pay and remuneration is determined by reference to achievement of objectives and independent benchmarking data that is available for the sector.

5. Strategic Report; Objectives, Activities, Achievements, Performance, Support of Vulnerable Students

Objects

The objectives of the Charitable Company are to carry on a school or college or schools and colleges for the provision of education . The School’s objects fall under the heading “advancement of education” (included within the Charities Act 2011 as part of a list of recognised charitable purposes).

Rishworth is an independent school for both boarding and day students, set in some 100 acres of exceptional scenery, including a river (on the Rishworth Preparatory site), woodland and playing fields, both on site and off. Most of our day students come from families in the surrounding areas in Yorkshire and Lancashire, with boarding students originating from all corners of the globe, as well as from the UK. The Rishworth International Football Academy (RIFA), run in partnership with Street World Soccer, has attracted young sports people from geographical areas not previously seen at the School.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

5. Strategic Report; Objectives, Activities, Achievements and Performance (continued)

Overview

During the year, the School experienced a challenging operating environment, with external political and economic factors significantly impacting both pupil recruitment and retention. Despite ongoing recruitment activity, overall pupil numbers declined during the year, falling from 417 to 410, with a further reduction anticipated for September 2025. Consequently, Year 7 intake will reduce to two forms of entry rather than three.

Staffing levels have been carefully managed in response to these changes, with surplus teaching capacity addressed through natural staff turnover rather than redundancies. However, financial pressures have increased substantially. In January 2025, the School was required to pass on the full 20% VAT on school fees to parents at the same time as the removal of charitable business rates relief. In addition, rising staff costs—including higher than budgeted employer National Insurance contributions, above-inflation increases in the National Minimum Wage, and elevated Teachers’ Pension Scheme contributions—have added further fixed cost pressures.

These financial factors have affected parental decisions, particularly within the Prep School, where a number of families have opted to move to the state sector or independent preparatory schools offering pathways into non-fee-paying grammar schools. This has contributed to in-year pupil losses at the Prep level. Senior School numbers have remained comparatively stable, with most pupils continuing their education at Rishworth. Retention into Year 12 for September 2026 is expected to be consistent with historic trends.

Across all age groups, there has been a notable increase in demand for bursaries and fee assistance, alongside greater use of scholarships and discounts by both prospective and existing families. The Old Rishworthian Scholarship Fund has provided valuable support, enabling the School to assist families experiencing financial hardship.

The international boarding market has also shifted, with some families reducing the length of their children’s stay in the UK and seeking more cost-effective alternatives overseas. This has resulted in more short-term placements and increased pressure on the Marketing and Admissions teams to sustain pupil numbers. The School has identified a growing “try before you buy” trend within international recruitment and is adapting its marketing strategy to capitalise on the increased demand for short-stay placements.

In January 2025, Rishworth School was inspected by the Independent Schools Inspectorate (ISI). The inspection confirmed that the School meets all required standards across leadership and governance, quality of education, pupil wellbeing, social development, and safeguarding. Inspectors commended the strength of leadership and governance, noting the School’s commitment to placing pupil wellbeing at the centre of decision-making. The curriculum was

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

5. Strategic Report; Objectives, Activities, Achievements and Performance (continued)

judged to be broad and well-structured, supporting strong pupil progress, with particularly effective provision for pupils with SEND and those with English as an additional language.

The report also highlighted the School’s positive culture of respect, inclusivity, and personal development, supported by a comprehensive PSHE programme and a wide-ranging cocurricular offering. Pupils were found to be well prepared for life beyond school, demonstrating maturity, responsibility, and financial awareness. Safeguarding arrangements were judged to be robust and effective. Recommendations focused on further strengthening academic challenge and enhancing oversight of enrichment provision within the Senior School, reflecting the School’s commitment to continuous improvement.

While the School is not designed to support pupils with complex or severe needs, it maintains a strong Special Educational Needs and Disabilities (SEND) department, working closely with pastoral teams to provide tailored support. This provision was expanded at Easter 2025 with the establishment of a Specialist Resource Provision, offering a small number of Local Authority-funded places. As part of this development, the Learning Support Centre is being relocated to a larger facility for September 2025, which will include a sensory room, dedicated teaching spaces for interventions, and adaptive environments to meet the needs of pupils.

Rishworth operates as a through-school for pupils aged 3 to 18. The continuity of education, combined with relatively small class sizes, enables staff to develop a strong understanding of each pupil’s individual needs and character. This supports smooth transitions between phases and ensures pupils are well prepared for higher education, vocational pathways, or employment. Destination outcomes remain strong, with pupils progressing to Russell Group universities, degree-level apprenticeships, and professional sporting careers.

The School offers a broad programme of academic extension and enrichment, with over one hundred activities delivered each term. These include opportunities for academic development, such as Further Mathematics at GCSE and the Religion and Philosophy short course, alongside the Higher Project Qualification and Extended Project Qualification. The co-curricular programme encompasses a wide range of sporting, creative, and specialist activities, including team sports, individual pursuits, performing arts, robotics, chess, Warhammer, Young Farmers, and community projects.

A Rishworth education is underpinned by the School’s motto, Res Non Verba (“Deeds Not Words”), and its core values of Curiosity, Valour, Kindness, and Individuality. These values are embedded across all aspects of school life and are actively promoted and recognised. The School is proud of its pupils and alumni, who consistently demonstrate these qualities and go on to make meaningful contributions to society.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

5. Strategic Report; Objectives, Activities, Achievements and Performance (continued)

Public Benefit

In fulfilling its charitable objectives and adhering to guidance issued by the Charity Commission, Rishworth School delivers clear and demonstrable public benefit through its day-to-day educational provision, community engagement, partnerships, and support for local charities and organisations.

At a national level, the School contributes to the wider public good by educating young people who go on to play active and productive roles in society. In addition, the independent education sector provides a direct financial benefit to the public purse by reducing demand on maintained school places. By educating pupils independently, the School alleviates pressure on oversubscribed local state schools, enabling public funding to be deployed more widely across the education system and other areas of public expenditure. The recent introduction of VAT on school fees further contributes to public finances.

Rishworth School continues its partnership with the Buttle UK Trust, providing a fully funded boarding place for a young person in the UK who has experienced significant personal hardship, including financial disadvantage and challenging social circumstances. This initiative reflects the School’s commitment to widening access and supporting vulnerable individuals.

The School maintains an active programme of charitable fundraising and outreach. Each term, pupils select a charity to support, and all fundraising activities during that period are directed towards the chosen cause. In addition, all pupils have the opportunity to participate in the Duke of Edinburgh’s Award scheme at Bronze, Silver and Gold levels, which includes a strong focus on community service. Dedicated curriculum time is also allocated for community project work. During the year, pupil-led and school-supported initiatives included:

• A whole-school charity day in support of BBC Children in Need

• Local litter-picking initiatives in Rishworth and Ripponden

• Participation in Ripponden in Bloom, including maintaining village planters

• Environmental projects, including the planting of 1,000 bluebells and 240 saplings on the school site

• Support for the dementia-friendly Riverside Café, including seasonal activities and community engagement

• Preparation of Winter Care Parcels for the Voluntary and Community Calderdale Group (VSI Alliance)

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

5. Strategic Report; Objectives, Activities, Achievements and Performance (continued)

• Contributions to Focus4Hope through harvest donations and assistance with Christmas food hampers

• Hosting a Macmillan Coffee Morning open to the wider community

• Creating festive decorations for the Starlight Charity to support children in hospital

• Ongoing engagement with Age UK in Halifax, including befriending activities, events, and outings for elderly individuals

The School also supports pupils’ personal development through engagement with external speakers and organisations, covering key topics such as road safety, disability awareness, drug education, and financial literacy.

Rishworth School’s facilities provide significant value to the local community through an extensive lettings programme. The School supports a wide range of local organisations, including Halifax Swimming Club, which was accommodated following the closure of a local authority pool. Local primary schools utilise the facilities for curriculum swimming provision. The School’s sports facilities are regularly used by community groups including rugby, badminton, netball, and cricket clubs, often at reduced rates. Partnerships also extend to Elland Tennis Club, RLSS lifeguard training provision, and Ryburn United Football Club, supporting grassroots sport in the region.

Beyond facility provision, pupils actively contribute to local sporting initiatives. Sixth Form students lead the annual Calderdale Tag Rugby Championships for over 40 local primary schools, while BTEC students assist in delivering Calderdale schools’ athletics events.

Staff also contribute to the wider education sector and community. Two members of staff serve as Trustees on the boards of maintained Multi-Academy Trusts, and a member of the leadership team provides coaching support to colleagues across both maintained and independent sectors.

Through its charitable and community-focused initiatives, the School seeks not only to meet but to exceed its obligations as a charitable company. A central aim is to ensure that pupils actively participate in meaningful public benefit activities, embedding these values within the ethos of the School and reinforcing the “Rishworth Spirit”.

Academic Achievements & Performance

The School maintained strong academic performance in the 2024–2025 academic year, with outcomes at both GCSE and A Level continuing to compare favourably against national benchmarks.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

5. Strategic Report; Objectives, Activities, Achievements and Performance (continued)

At GCSE, 90% of grades were awarded at 9–4, exceeding the national average by 22.5 percentage points. Higher-grade attainment was also strong, with 70.3% of grades at 9–5 (18.4 percentage points above national) and 45.7% at 9–6 (10.3 percentage points above national). Performance in core subjects was particularly notable, with attainment in English, Mathematics, and Science exceeding national averages by 36.7, 29.9, and 30.2 percentage points respectively. Overall results reflect strong value-added progress, with pupils achieving significantly above expected levels. This year's value-added score was an exceptional +1.7, indicating that, on average, students achieved nearly two full grade boundaries above their predicted performance levels, a reflection of both academic progress and personalised support throughout their educational journey.

At A Level the School reported a positive value-added score of +0.47, indicating that students, on average, exceeded their predicted outcomes. Notably, 38.8% of grades were awarded at A*–A, exceeding the national average by 10.5 percentage points, demonstrating continued strength at the highest attainment levels.

Vocational qualifications also performed strongly, with 75% of results achieved at Distinction or above.

Pupil destinations remain strong, with the majority progressing to higher education, including competitive universities, or entering professional pathways such as apprenticeships, sport, and the creative industries.

Overall, these results demonstrate the School’s continued focus on academic achievement, pupil progress, and the delivery of a high-quality educational experience.

Protection of Vulnerable People at Rishworth School

Rishworth School is committed to safeguarding and promoting the welfare of all members of its community. As a co-educational day and boarding school for pupils aged 3 to 18, as well as a responsible employer, the School places the protection of vulnerable individuals at the core of its operations.

The School’s Equal Opportunities Policy underpins this commitment, promoting an inclusive environment in which all pupils are treated as individuals according to their merits and abilities. The School actively opposes all forms of unlawful discrimination and seeks to ensure equality of opportunity for all, regardless of personal characteristics or background.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

5. Strategic Report; Objectives, Activities, Achievements and Performance (continued)

This commitment is implemented through a comprehensive framework of policies and procedures aligned with statutory requirements and best practice. The School has a Designated Safeguarding Lead (DSL), supported by trained Deputy DSLs across all sections of the School, including dedicated safeguarding leadership within the Early Years Foundation Stage and the Preparatory School. Safeguarding concerns are systematically recorded and monitored using the Child Protection Online Management System (CPOMS), ensuring robust oversight and timely interventions.

Pastoral care is a key strength, with the Deputy Head (Pastoral), SENDCo and School Matron providing frontline support for pupils experiencing social, emotional or mental health difficulties. A number of staff are trained in mental health first aid, further enhancing the School’s capacity to respond effectively to pupil needs. Pupils are also supported through the use of recognised screening tools, including the Strengths and Difficulties Questionnaire (SDQ), to help identify and address potential mental health concerns.

Support for pupils with Special Educational Needs and Disabilities (SEND) is coordinated by the SENDCo and tailored to individual requirements, whether through one-to-one support, in-class provision or specialist teaching within the Learning Support Centre. Relevant information is shared confidentially with staff to ensure appropriate and consistent support.

The School engages with external safeguarding bodies, including membership of the Calderdale Safeguarding Board, and maintains a strong programme of staff training and professional development. This includes regular safeguarding updates, online training, and awareness programmes covering a wide range of topics, such as mental health, equality, and pupil wellbeing.

Pupil education in safeguarding and inclusion is delivered through assemblies and a comprehensive Personal, Social, Health and Citizenship Education (PSHCE) programme, which addresses topics including equality, diversity, relationships education, and personal safety. Through these measures, the School seeks to maintain a safe, inclusive and supportive environment, ensuring that all pupils are protected, valued and able to thrive.

6. Strategic Report; Financial Review and Results for the Year

Financial Review

The School reported a deficit of £442,895 for the year ended 31 August 2025, an increase from £278,857 in the prior year.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

6. Strategic Report; Financial Review and Results for the Year (continued )

Total income increased by 7.6%, rising from £5,986,938 to £6,440,669. This growth was driven in part by a 3.7% increase in fee income, with the remaining increase attributable to a change in pupil mix, including a higher proportion of students in older year groups. Discount levels remained consistent with the prior year at approximately 14% of income.

Investment returns were lower than in the previous year, which had benefited from exceptionally strong performance. The School disposed of its investment portfolio in the year and the capital was released to unrestricted funds. The value of investments at the year end was £269 compared to £1,495,911 in the prior year.

Total resources expended increased, reflecting underlying cost pressures across the School. Staff costs rose by 5.5%, equating to an increase of £256,854, alongside the full-year impact of the increase in employer contributions to the Teachers’ Pension Scheme (from 23.68% to 28.68%), resulting in an additional cost of approximately £76,000. Premises costs also increased due to the removal of business rates relief, adding £69,640 to expenditure.

Administrative costs rose as a result of higher bad debts, increased costs associated with recruiting international boarding pupils, and higher employer National Insurance contributions following threshold changes. In addition, increases in the National Minimum Wage of 9.8% contributed to the overall rise in operating costs.

Overall, the financial position reflects a combination of modest income growth and sustained inflationary and structural cost pressures impacting the School during the year.

The Balance Sheet reflects the liquidation of the investment portfolio during the year, together with a reclassification of funds from endowed to unrestricted, providing the School with greater financial flexibility.

Debtors increased significantly, primarily due to affordability pressures on fees following the introduction of VAT. Conversely, creditors decreased as advance fee payments received prior to the implementation of VAT have been utilised during the period.

During the year, the School also sought and obtained approval to remove certain historic restrictions on charitable funds, enabling these resources to be deployed more effectively in support of the School’s current operational and strategic needs.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

6. Strategic Report; Financial Review and Results for the Year (continued )

Going Concern

The Governors have given careful consideration to the School’s financial position and future viability, particularly in light of the introduction of VAT on school fees and the subsequent impact on pupil numbers, affordability, and cash flow. In the period leading up to and following implementation, the School experienced a number of related pressures, including a reduction in admissions, increased movement of pupils to grammar school pathways, a rise in bursary applications, and a corresponding increase in debtor balances.

In response, the Governors undertook a comprehensive strategic review of the School to ensure its long-term sustainability and continued delivery of its charitable objectives. As a result of this review, a number of key decisions and actions have been implemented.

These included the closure of the Preparatory School, which closed at the end of the 2025 – 26 academic year, and the planned sale of its site, reflecting the significant decline in pupil numbers within that part of the School and its resulting lack of financial viability. In addition, the Governors have committed to the disposal of certain underutilised assets that fall outside the core operational footprint of the School, enabling reinvestment into priority areas aligned with its strategic objectives. The sale of Goat House Barn is due to complete in August 2026.

The School has secured funding to support investment in its facilities and cover any other cash requirements ahead of asset disposals being finalised. Capital projects, including enhancements to boarding and sports facilities, are progressing as planned for completion by Summer 2026 and are considered critical to strengthening the School’s appeal to both domestic and international markets.

Alongside these measures, a curriculum review at the Senior School has been undertaken to ensure a high-quality and sustainable academic offering. A strategic review of marketing and admissions has also been completed, providing a clearer focus on brand positioning and recruitment priorities.

Leadership and governance are being strengthened, with the appointment of a new Head commencing in September and a planned review of the Governing Body to ensure that it has the appropriate skills and experience to support the School’s future development.

Having considered the financial forecasts, available funding, planned asset disposals, and the mitigating actions noted above, the Governors are satisfied that the School has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

6. Strategic Report; Financial Review and Results for the Year (continued )

Cash Availability

The School maintains a strong focus on liquidity and cash flow management to ensure it can meet its financial obligations as they fall due. Cash availability is monitored through a robust financial planning framework, including rolling 13-week cash flow forecasts, detailed annual budgets, and a longer-term 10-year financial plan. These processes enable the Governors to assess short-, medium-, and long-term funding requirements and respond proactively to changing circumstances.

The School’s cash management approach includes careful monitoring of working capital, including debtor balances and fee collection, together with clear identification and segregation of restricted funds and fees received in advance. This ensures that funds are applied in accordance with their designated purpose and supports effective treasury management. Regular review of cash flow forecasts, alongside sensitivity analysis, provides assurance that the School has sufficient liquidity to meet operational needs and planned strategic investments.

Key performance indicators and financial report

The Governors monitor a range of financial and operational key performance indicators to assess the School’s performance and long-term sustainability.

Financial performance reflects continued cost pressures and changes in pupil numbers. The net expenditure increased to £442,895 (2024: £278,857), despite total income growth of 7.6% (2024: 4.8%). Fee income per pupil increased to £16,624 (2024: £15,025), while fee remissions remained stable at 14.1% of gross fee income (2024: 14.0%). Staff costs increased slightly as a proportion of income to 75% (2024: 71%).

Pupil numbers declined modestly to 410 (2024: 417), with overall capacity utilisation at 75% (2024: 76%) against a total capacity of 550. Sixth Form retention decreased slightly to 54% (2024: 56%). Boarding occupancy increased significantly to 49% (2024: 31%), reflecting a recovery in demand within this area.

Operational metrics remain stable, with an average class size of 13 in the Preparatory School and 17 in the Senior School. The teacher–pupil ratio increased to 8.9 (2024: 8.0), reflecting a reduction in pupil numbers. Total staff headcount remained broadly consistent at 118 (2024: 115), with 94 full-time equivalent staff.

Liquidity and cash collection remain under close review. The provision for bad debts reduced to 1.7% of fee income (2024: 3.6%), with the total provision decreasing to £97,302 (2024: £195,822).

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

6. Strategic Report; Financial Review and Results for the Year (continued )

These indicators are reviewed regularly alongside forecasts and strategic plans to support effective decision-making and ensure the School’s ongoing financial resilience.

Recruitment & Marketing

During the 2024–2025 financial year, the School experienced resourcing challenges within the Marketing and Admissions functions due to ill health and personal circumstances. This impacted the School’s ability to maintain consistent marketing activity and admissions conversion processes during the period and resulted in a complete change in personnel within the Marketing and Admissions team.

In addition, the Governors commissioned and completed a comprehensive strategic review of Marketing and Admissions during 2025–2026. This review established a clear framework to strengthen recruitment, improve conversion, and enhance the School’s market positioning. The key strategic priorities arising from this review include:

• Establishing a clear and consistent brand proposition , with defined messaging and differentiation to improve market visibility and communicate the School’s strengths more effectively

• Refocusing admissions processes on conversion and engagement , including improved enquiry handling, personalised communication, and structured follow-up activity

• Developing targeted marketing activity , prioritising core local catchment areas and key growth segments such as boarding and international markets

• Implementing a more efficient and data-led marketing approach , including strengthened digital presence, improved use of website and social media platforms, and a “test and learn” methodology to maximise return on investment

These actions are designed to improve enquiry levels, strengthen conversion rates, and support the long-term sustainability of pupil recruitment.

Fundraising

The school does not use any external fundraisers. All fundraising undertaken during the year was monitored by the Governors.

Reserves Policy

The Governors recognise the importance of maintaining an appropriate level of reserves to enable Rishworth School to continue to fulfil its charitable objectives. Reserves provide financial stability, allowing the School to manage unforeseen fluctuations in income and expenditure while also supporting investment in strategic development and the ongoing maintenance and enhancement of the School’s estate, including its historically significant buildings.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

6. Strategic Report; Financial Review and Results for the Year (continued )

In setting the reserves policy, the Governors seek to balance the need to retain sufficient funds to ensure financial resilience against the requirement to invest in staffing, facilities, and the delivery of a high-quality educational provision.

At 31 August 2025, total funds amounted to £2,190,564 (2024: £2,633,459), comprising £99 of restricted funds (2024: £571,926) and £21,125 of endowed funds (2024: £989,455), with the remainder held as unrestricted funds. Free reserves were in a surplus position of £55,225 (2024: £1,160,223 deficit), representing an improvement on the prior year but remaining below the target level of £2.0 million established by the Governors.

The Governors remain committed to restoring free reserves to a positive and sustainable level over the medium term. To support this objective, the School has developed plans to dispose of non-core assets and to review the status of certain restricted and endowed funds, with a view to removing historical restrictions where appropriate and legally permissible. These measures are intended to strengthen the School’s financial position and provide greater flexibility in the deployment of resources.

Investment Policy

The School aims to manage its cash balances to provide for the day-to-day working capital requirements of its operations, whilst protecting the real long-term value of any surplus cash balances against inflation. The Governing Body have formed an Asset Group whereby Senior Management personnel can work with Governors to realise the full potential of all assets held by the School. All the Schools investments are held in Environmental Social and Governance (ESG) and ethically friendly funds with a medium to low risk.

7. Strategic Report; Future Plans

Creativity flourishes throughout Rishworth School, gaining us an enviable reputation in our provision of music and the performing arts. We have also established a standing as one of the best schools in the region for sports with international-standard coaching.

Programmes such as the Duke of Edinburgh and the Extended Project Qualifications are components of our wider focus on service, leadership and the building of character which helps Rishworthians become well-rounded, productive and successful contributors to a modern society.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

7. Strategic Report; Future Plans (continued)

Future Plans and Strategic Outlook

The Governors and Senior Leadership Team remain focused on ensuring the long-term financial sustainability of the School while continuing to invest in areas that enhance the educational experience, strengthen pupil recruitment, and diversify income streams. A number of strategic initiatives are planned which are expected to improve operational efficiency, support future growth and increase resilience against external financial pressures.

Short-Term Strategic Priorities

During the next financial year, the School will focus on a number of key initiatives designed to strengthen both financial performance and market position.

A significant development will be the football partnership with the Huddersfield Town FC Foundation, which is expected to enhance the School's sporting provision, increase pupil recruitment opportunities and strengthen community engagement.

The School will also invest in the development of a new 5-a-side 3G pitch and Multi-Use Games Area (MUGA). In addition to supporting the School's sporting programme, these facilities will create opportunities for increased commercial lettings and external revenue generation outside of term time.

Further investment is planned within the boarding provision to improve facilities and enhance the attractiveness of the School to both domestic and international boarding pupils. Supporting this objective, the School will implement changes to the marketing structure, placing greater emphasis on engagement with international agents and the wider boarding community to strengthen recruitment pipelines.

To maximise existing educational provision, the School intends to establish a waiting list for Year 6 pupils with the objective of extending and maintaining this provision where demand supports continued delivery.

The School will continue to review its cost base and operational efficiencies. Measures include the closure of the Prep School and associated staffing reductions, alongside a wider restructuring of staffing and operational resources within the Senior School. Boarding operations will also be

reviewed, with boarding houses restructured where appropriate to improve occupancy levels and reduce staffing costs.

Changes to GCSE option blocks are planned in order to align curriculum delivery more effectively with pupil demand and improve resource efficiency whilst maintaining educational quality.

The School will further review underutilised transport routes and implement restructuring measures to ensure that transport services remain financially sustainable and aligned with pupil requirements.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

7. Strategic Report; Future Plans (continued)

Financial sustainability remains a key priority. The School has already exited the Teachers' Pension Scheme (TPS) for new starters, remaining staff are due to leave the TPS in September 2026, reducing future employer pension contribution liabilities. In addition, opportunities will be pursued to dispose of non-core assets located outside the School footprint, releasing capital and reducing ongoing maintenance obligations.

The School has also secured an appropriate funding facility to provide additional financial stability, improve cash flow resilience and ensure the ability to respond effectively to unforeseen challenges or changing economic conditions.

Finally, the School is pleased to have secured support from the Old Rishworthian community to fund an Alumni Events and Engagement Manager role, strengthening alumni relations, encouraging philanthropic support and enhancing long-term fundraising opportunities.

Longer-Term Strategic Priorities

Looking beyond the next financial year, the School remains committed to a programme of investment and transformation designed to support sustainable growth and maintain its competitive position within the independent education sector.

A comprehensive IT roadmap will be developed and implemented, focusing on improvements to network infrastructure, cyber security, digital learning resources and the integration of technology within the curriculum.

Capital investment plans include enhancements to the Music and Drama facilities, together with improvements to the Performing Arts Centre. These developments will support the School's commitment to delivering a broad and high-quality co-curricular experience while improving the attractiveness of the School to prospective families.

Subject to market conditions and appropriate approvals, the School intends to pursue the sale of the former Prep School site, with proceeds supporting the School's wider strategic and financial objectives.

The restructuring of transport services will continue over the longer term to ensure routes remain efficient, cost-effective and aligned to changing patterns of demand.

The School will also maintain a strong focus on maximising the value of its estate and facilities through increased commercial activity. Opportunities for lettings, partnerships, sporting activities, events and other commercial ventures will be actively explored to create sustainable non-fee income streams that support the School's overall financial resilience.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

7. Strategic Report; Future Plans (continued)

Conclusion

These strategic priorities reflect the School's commitment to balancing prudent financial management with targeted investment in its facilities, people and educational provision. Through a combination of cost efficiencies, asset optimisation, commercial income generation and focused investment in key growth areas, the School aims to strengthen its financial position and ensure its long-term sustainability while continuing to provide an outstanding educational experience for its pupils.

8. Responsibilities of the Governors

Company Law requires the Governors as Trustees of the Charity to prepare accounts for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year.

In preparing the accounts the Governors should follow best practice, and:

• select suitable accounting policies and apply them consistently;

• make judgements and estimates that are reasonable and prudent;

• follow applicable accounting standards and the Charity SORP, disclosed and explained in the accounts; prepare the accounts on the ‘going concern’ basis unless it is inappropriate to assume that the Charity will continue in operation;

• Company law requires that they 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 the surplus or deficit of the charity for that period.

The Governors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Governors are responsible for preparing the director’s report and the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. 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 and are also responsible for the maintenance and integrity of the financial information included on the Charity’s website.

Governors, who are Directors for the purpose of Company Law and Trustees for the purpose of Charity Law, who served during the year and up to the date of this report, are set out on Page 2.

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RISHWORTH SCHOOL

Annual Report of the Governor (Incorporating the Directors’ Report) for the Year Ended 31[st] August 2025

8. Responsibilities of the Governors (continued)

• In accordance with Company Law, as the Company’s Directors, we certify that:

• so far as we are aware, there is no relevant audit information of which the Company’s Auditors are unaware; and

• we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the Charity’s Auditors are aware of that information.

Approved and authorised by the Board of Governors on 13[th] August 2026 and signed on its behalf by:

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B1C90000-D034-8EB4-588B-08DEF92304FD
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Reverend Canon H Barber

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RISHWORTH SCHOOL

Charitable Company Statement of Financial Activities (including Income & Expenditure Account) for the Year Ended 31[st] August 2025

Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities: Fees receivable 2 Other educational income 3 Other ancillary income 4 Investments 5 Earned from other activities Bank and other interest Donation from subsidiary Total incoming resources RESOURCES EXPENDED Raising funds Investment management Charitable activities Teaching costs Welfare Premises Grants and scholarships Administration and support Total resources expended 6/7 NET INCOME / (EXPENDITURE) BEFORE TRANSFERS Transfers between funds 8 NET OPERATING SURPLUS / (DEFICIT) Net Gains / (losses) on investments 9 Net Income / (expenditure) Reconciliation of funds Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted Endowed Restricted Total for Funds Funds Funds Year to School School 31 Aug 2025 £ £ £ £ 46,334 - - 46,334 5,781,564 - 71,122 5,852,686 6,283 - - 6,283 349,781 349,781 - 8,757 3,853 12,610 51,570 - - 51,570 121,405 - - 121,405
	6,356,937 8,757 74,975 6,440,669
	- 8,952 4,606 13,558 3,825,300 - 71,122 3,896,422 561,433 - - 561,433 998,114 - - 998,114 - - - - 1,459,622 - - 1,459,622
	6,844,469 8,952 75,728 6,929,149
	(487,532) (195) (753) (488,480) 1,584,794 (1,011,965) (572,829) -
	1,097,262 (1,012,160) (573,582) (488,480) - 43,830 1,755 45,585
	1,097,262 (968,330) (571,827) (442,895) 1,072,078 989,455 571,926 2,633,459 2,169,340 21,125 99 2,190,564

The statement of financial activities includes all gains and losses in the year. All incoming resources derive from continuing activities.

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RISHWORTH SCHOOL

Charitable Company Statement of Financial Activities (including Income & Expenditure Account) for the Year Ended 31[st] August 2025 (Comparative Figures for the Year Ended 31[st] August 2024)

Notes INCOME AND ENDOWMENTS FROM Charitable activities Fees receivable 2 Other educational income 3 Other ancillary income 4 Investments 5 Earned from other activities Bank and other interest Donation from subsidiary Total incoming resources RESOURCES EXPENDED Raising funds Investment management Charitable activities Teaching costs Welfare Premises Grants and scholarships Administration and support Total resources expended 6/7 NET INCOME / (EXPENDITURE) BEFORE TRANSFERS Transfers between funds 8 NET OPERATING SURPLUS / (DEFICIT) Net Gains / (losses) on investments 9 Net Income / (expenditure) Reconciliation of funds Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted Endowed Restricted Total for Funds Funds Funds Year to School School 31 Aug 2024 £ £ £ £ 5,355,273 - 44,369 5,399,642 9,201 - - 9,201 427,205 - - 427,205 - 17,738 8,869 26,607 17,003 - - 17,003 107,280 - - 107,280
	5,915,962 17,738 53,238 5,986,938
	- 11,325 6,030 17,355 3,577,100 - 44,369 3,621,469 547,713 - - 547,713 928,474 - - 928,474 - - 9,570 9,570 1,292,118 - - 1,292,118
	6,345,405 11,325 59,969 6,416,699
	(429,443) 6,413 (6,731) (429,761) 8,935 (8,935) - -
	(420,508) (2,522) (6,731) (429,761) - 89,731 61,173 150,904
	(420,508) 87,209 54,442 (278,857) 1,492,586 902,246 517,484 2,912,316 1,072,078 989,455 571,926 2,633,459

The statement of financial activities includes all gains and losses in the year. All incoming resources derive from continuing activities.

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RISHWORTH SCHOOL

Consolidated Statement of Financial Activities (including Income & Expenditure Account) for the Year Ended 31[st] August 2025

Account) for the Year Ended 31st	August 2025
Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Fees receivable 2 Other educational income 3 Other ancillary income 4 Investments 5 Earned from other activities Bank and other interest Trading income Total incoming resources RESOURCES EXPENDED Cost of Raising funds Investment management Trading legal and professional fees Charitable activities Teaching costs Welfare Premises Grants and scholarships Administration and support Total resources expended 6/7 NET INCOME / (EXPENDITURE) BEFORE TRANSFERS Transfers between funds 8 NET OPERATING SURPLUS / (DEFICIT) Net Gains / (losses) on investments 9 Net Income / (expenditure) Reconciliation of funds Total Funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted Endowed Restricted Total for Funds Funds Funds Year to School School 31 Aug 2025 £ £ £ £ 46,334 46,334 5,781,564 - 71,122 5,852,686 6,283 - - 6,283 349,781 - - 349,781 - 8,757 3,853 12,610 52,203 - - 52,203 122,152 - - 122,152
	6,358,317 8,757 74,975 6,442,049
	- 8,952 4,606 13,558 1,380 - - 1,380 3,825,300 - 71,122 3,896,422 561,433 - - 561,433 998,114 - - 998,114 - - - - 1,459,622 - - 1,459,622
	6,845,849 8,952 75,728 6,930,529
	(487,532) (195) (753) (488,480) 1,584,794 (1,011,965) (572,829) -
	1,097,262 (1,012,160) (573,582) (488,480) - 43,830 1,755 45,585
	1,097,262 (968,330) (571,827) (442,895) 1,072,078 989,455 571,926 2,633,459 2,169,340 21,125 99 2,190,564

The statement of financial activities includes all gains and losses in the year. All incoming resources derive from continuing activities.

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RISHWORTH SCHOOL

Consolidated Statement of Financial Activities (including Income & Expenditure Account) for the Year Ended 31[st] August 2025 (Comparative Figures for the Year Ended 31[st] August 2024)

Notes INCOME AND ENDOWMENTS FROM Charitable activities Fees receivable 2 Other educational income 3 Other ancillary income 4 Investments 5 Earned from other activities Bank and other interest Trading income Total incoming resources RESOURCES EXPENDED Cost of Raising funds Investment management Trading legal and professional fees Charitable activities Teaching costs Welfare Premises Grants and scholarships Administration and support Total resources expended 6/7 NET INCOME / (EXPENDITURE) BEFORE TRANSFERS Transfers between funds 8 NET OPERATING SURPLUS / (DEFICIT) Net Gains / (losses) on investments 9 Net Income / (expenditure) Reconciliation of funds Total Funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted Endowed Restricted Total for Funds Funds Funds Year to School School 31 Aug 2024 £ £ £ £ 5,355,273 - 44,369 5,399,642 9,201 - - 9,201 427,205 - - 427,205 - 17,738 8,869 26,607 18,781 - - 18,781 107,014 - - 107,014
	5,917,474 17,738 53,238 5,988,450
	- 11,325 6,030 17,355 1,512 - - 1,512 3,577,100 - 44,369 3,621,469 547,713 - - 547,713 928,474 - - 928,474 - - 9,570 9,570 1,292,118 - - 1,292,118
	6,346,917 11,325 59,969 6,418,211
	(429,443) 6,413 (6,731) (429,761) 8,935 (8,935) - -
	(420,508) (2,522) (6,731) (429,761) - 89,731 61,173 150,904
	(420,508) 87,209 54,442 (278,857) 1,492,586 902,246 517,484 2,912,316 1,072,078 989,455 571,926 2,633,459

The statement of financial activities includes all gains and losses in the year. All incoming resources derive from continuing activities.

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RISHWORTH SCHOOL Company Number: 05855479 Charitable Company Balance Sheet as at 31[st] August 2025

Notes FIXED ASSETS Tangible assets 10 Investments 11 CURRENT ASSETS Debtors and accrued income 12 Cash at bank and in hand LIABILITIES Creditors due within one year 13 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Due after more than one year 13 TOTAL NET ASSETS THE FUNDS OF THE CHARITY Unrestricted funds Endowment funds Restricted income funds TOTAL FUNDS 15/16	£ 482,320 2,200,194	31 August 2025 £ 2,135,071 269	£ 342,533 2,126,358	31 August 2024 £ 2,253,257 1,495,911
		2,135,340 877,229		3,749,168 88,894
	2,682,514 (1,805,285)		2,468,891 (2,379,997)
		3,012,569 (822,005)		3,838,062 (1,204,603)
		2,190,564		2,633,459
		2,169,340 21,125 99		1,072,078 989,455 571,926
		2,190,564		2,633,459

Authorised and approved by the Board of Governors on 13[th] August 2026 and signed on behalf of the Board by:

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B1C90000-D034-8EB4-589A-08DEF92304FD
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Reverend Canon H Barber

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RISHWORTH SCHOOL Company Number: 05855479 Charitable Consolidated Balance Sheet as at 31[st] August 2025

Notes FIXED ASSETS Tangible assets 10 Investments 11 CURRENT ASSETS Debtors and accrued income 12 Cash at bank and in hand LIABILITIES Creditors due within one year 13 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Due after more than one year 13 TOTAL NET ASSETS THE FUNDS OF THE CHARITY Unrestricted funds Endowment funds Restricted income funds TOTAL FUNDS 15/16	£ 370,751 2,313,144	31 August 2025 £ 2,135,071 268	£ 245,929 2,224,463	31 August 2024 £ 2,253,257 1,495,910
		2,135,339 877,230		3,749,167 88,895
	2,683,895 (1,806,665)		2,470,392 (2,381,497)
		3,012,569 (822,005)		3,838,062 (1,204,603)
		2,190,564		2,633,459
		2,169,340 21,125 99		1,072,078 989,455 571,926
		2,190,564		2,633,459

Authorised and approved by the Board of Governors on 13[th] August 2026 and signed on behalf of the Board by:

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B1C90000-D034-8EB4-589F-08DEF92304FD
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Reverend Canon H Barber

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RISHWORTH SCHOOL

Consolidated Cash Flow Statement for the Year Ended 31[st] August 2025

Notes NET CASH INFLOW FROM OPERATING ACTIVITIES 19 RETURNS ON INVESTMENTS AND SERVICING OF FINANCE Investment income Interest receivable NET CASH INFLOW FROM RETURNS ON INVESTMENTS AND SERVICING OF FINANCE CAPITAL EXPENDITURE AND FINANCIAL INVESTMENTS Purchase of tangible fixed assets Purchase of investments Proceeds from sale of fixed assets Proceeds from sale of investments NET CASH INFLOW / (OUTFLOW) FROM INVESTING ACTIVITIES INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 20	£ 12,610 52,203	Year ended 31 August 2025 £ (1,430,534) 64,813 1,454,402	£ 26,607 18,781	Year ended 31 August 2024 £ 1,608,395 45,388 (125,038)
	(26,091) (419,762) - 1,900,255		(145,009) (513,004) - 532,975
		88,681		1,528,745

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

General information

The charitable company is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Rishworth School, Rishworth, HX6 4QA

1. Accounting Policies

Basis of Accounting

The financial statements are prepared on historical cost convention except that:

• Land and buildings are included at their 1934 valuation, adjusted by the cost of additions and disposals since that date. This valuation has been adopted as the historical cost under the transitional provisions of the Financial Reporting Standard 102. Where property owned before 1934 has been sold, the cost is assumed to be immaterial and the entire proceeds credited to the Foundation’s capital account.

• Investments are included at market value as at 31 August 2025.

The financial statements have been prepared in sterling, which is the functional currency of the entity. The financial statements are prepared in accordance with applicable accounting standards; Financial Reporting Standard 102, The Charities Statement of Recommended Practice (FRS102), the Companies Act 2006 and where applicable, the Charities Act 2011.

In accordance with the requirements of the Statement of Recommended Practice the School’s scholarship funds are incorporated into the Statement of Financial Activities and the Balance Sheet as restricted funds.

The opening fund balances and reserves of the School are classified according to the assets held for each purpose as follows:

Endowment funds Properties forming part of the original endowment together with investments purchased out of endowment capital.

Endowment funds are funds, the capital of which must be maintained: only income arising from investments of the endowment may be used as unrestricted funds, depending upon the purpose for which the endowment was established.

Restricted funds Investments and monies donated for scholarships and prizes, to the extent that they have not already been distributed for their intended purpose.

Unrestricted funds Accumulated surpluses, principally represented by the property, equipment and working capital of the School.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

Going concern

Details of the School's activities, principal risks and strategic response are set out within the Governors' Report. The Governors have considered carefully the School's financial position, future forecasts and principal risks when assessing the appropriateness of adopting the going concern basis.

The School reported a deficit of £442,895 for the year ended 31 August 2025. The operating environment continues to be challenging due to the introduction of VAT on school fees, increased employment costs, inflationary pressures and the impact these factors have had on pupil recruitment and retention. In addition, debtor balances have increased reflecting affordability pressures experienced by some families.

In response, the Governors have undertaken a comprehensive strategic review and implemented a number of actions to strengthen the School's financial resilience and long-term sustainability. These include the closure of the Preparatory School, the proposed sale of the Preparatory School site, the planned disposal of selected non-core assets, restructuring of staffing and operational resources, a review of curriculum delivery, and a refreshed marketing and admissions strategy focused on pupil recruitment and growth in boarding and international markets.

During the year the School realised a substantial proportion of its investment portfolio and obtained approval to release historic restrictions on certain endowed and restricted funds. This resulted in transfers of £1.58m to unrestricted funds and increased financial flexibility. At 31 August 2025 unrestricted funds amounted to £2.17m and net current assets were £877k, compared with £89k in the prior year. Cash balances at year end were £2.2m.

The School maintains detailed financial oversight through monthly management accounts, rolling 13-week cash flow forecasts, annual budgets and longer-term financial planning. Sensitivity analysis is regularly performed to assess the impact of adverse changes in pupil numbers, income and expenditure assumptions. The Governors have also secured an appropriate funding facility to provide additional liquidity and support planned investment programmes.

Having reviewed forecasts covering a period of at least twelve months from the date of approval of these financial statements, together with available cash resources, the secured funding facility, planned asset disposals and the strategic actions already implemented, the Governors have a reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Governors continue to

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

adopt the going concern basis of accounting in preparing the financial statements and do not consider that any material uncertainty exists in relation to going concern.

Revenue recognition, Fees and Similar Income

Fees receivable and charges for services and for the use of premises are accounted for in the year in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and bursaries awarded by the School. Scholarships are provided in the same year as the service. Where scholarships are provided by restricted scholarship funds the fee income is shown gross in the School’s accounts and the scholarships are shown as a deduction from the fund account. Fees received in advance of education, to be provided in future years, are held as liabilities until either taken to income in the term when used or else refunded.

Resources Expended and support cost apportionment to activity

Resources expended are accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of the resources. Costs in relation to operating leases are charged to the income and expenditure account on a straight line basis over the lease term. Governance costs comprise the costs of running the charity, including strategic planning for its future development, audit and legal advice for the Governors and all other costs of complying with constitutional and statutory requirements. Governance costs include audit fees and an allowance for the costs of support staff serving governors’ meetings.

Value Added Tax

Any irrecoverable VAT is charged to the Statement of Financial Activities or, capitalised as part of the cost of the related asset, as is appropriate.

Donations

Donations are credited to revenue on a receivable basis. Donations receivable for the general purposes of the charity are credited to unrestricted funds. Donations for purposes restricted by the wishes of the donor are taken into restricted funds where these wishes are legally binding on the Governors.

Pension Schemes

Retirement benefits to teachers at the School are provided by the Teachers' Pension Scheme (TPS) and Royal London. The TPS is a defined benefit scheme. This scheme is a multi-employer pension scheme and it is not possible to identify the assets and liabilities of the scheme, which is accounted for as a defined contribution scheme. Royal London is a defined contribution scheme. Non-teaching staff are automatically enrolled on the NEST pension scheme. This is a defined contribution scheme.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees' working lives with the School in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of valuations using a prospective unit credit method. TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

Tangible Fixed Assets

Depreciation is provided at the following rates:

ed at the following rates:
Freehold buildings	1% - 2% of cost
Property improvements/refurbishment	6% - 15% of cost
Furniture and equipment	10% of cost
Computer equipment	25% of cost

The Governors believe the total net realisable value of fixed assets to be in excess of the carrying value at 31 August 2025. They believe the freehold buildings to have an estimated useful life in excess of 100 years. A valuation was carried out in 2025 which accorded an estimated value of £58,500,000 for insurance purposes. Foundation property, which comprises land and listed buildings, is not depreciated; any depreciation chargeable would not be material.

Investments

Investments are valued in the Balance Sheet at their closing market value at the Balance Sheet date. Realised and unrealised changes in the market value of investments are dealt with in the Statement of Financial Activities. Investment income is accounted for in the year in which the Charity is entitled to receipt. Investment income management costs are charged as expenditure out of relevant funds.

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.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

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.

Recognition of creditors and liabilities

Liabilities are recognised when an obligation arises to transfer economic benefits as a result of past transactions or events.

Basis of consolidation

These financial statements consolidate the results of the charity and its wholly owned subsidiary undertaking drawn up to 31 August 2025.

The consolidation is carried out on a line-by-line basis. Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiary are eliminated in full.

Accounting policies of the subsidiary have been changed where necessary to ensure consistency with the policies adopted by the group.

Financial instruments

The School only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the school and their measurement basis are as follows:

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Fixed asset investments are measured at fair value.

Cash at bank – is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any key judgments or estimates.

2. Fees Receivable

School Fee income comprises: Gross Fees Less: Total bursaries, grants and allowances Add back: Scholarships, grants etc. paid for by restricted funds	Year to Year to 31 Aug 2025 31 Aug 2024 £ £ 6,816,032 6,265,559 (963,346) (875,487) - 9,570 5,852,686 5,399,642

Included within fee income is £71,122 (2024: £44,369) of Early Years Education Funding including £NIL (2024: £NIL) Deprivation Supplement and £NIL (2024: £NIL) Quality Supplement that is classified as restricted income. All this restricted income was spent on qualifying restricted expenses in the period.

3. Other Educational Income

. Other Educational Income
Other educational income Entrance and registration fees . Ancillary Income Property income Student deposits Short stay boarding Other income Insurance claim Gain on disposal of fixed assets	Year to Year to 31 Aug 2025 31 Aug 2024 £ £ 6,283 9,201 6,283 9,201
	Year to Year to 31 Aug 2025 31 Aug 2024 £ £ 29,245 57,963 218,839 148,003 101,697 126,575 - 23,200 - 71,464 - - 349,781 427,205

4. Ancillary Income

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

5. Investments

Listed investments Common investment funds	Year to Year to 31 Aug 2025 31 Aug 2024 £ £ 12,610 26,607 - - 12,610 26,607

Investment income comprises of income from investment units held in the UK and the listed investments are quoted on the London Stock Exchange.

6. Total Resources Expended

PARENT Charitable activities Teaching costs Welfare Premises Administration of the school Costs of schooling Grants, awards and prizes Cost of Raising funds Investment management Total resources expended CONSOLIDATION Charitable activities Teaching costs Welfare Premises Administration of the school Costs of schooling Grants, awards and prizes Cost of Raising funds Investment management Trading costs Total resources expended	Staff costs Other Depreciation Year to 31 Aug 2025 £ £ £ £ 3,625,753 267,678 2,991 3,896,422 352,601 208,832 - 561,433 265,111 591,717 141,286 998,114 687,555 772,067 - 1,459,622
	4,931,020 1,840,294 144,277 6,915,591 - - - -
	- 13,558 - 13,558
	4,931,020 1,853,852 144,277 6,929,149
	Staff costs Other Depreciation Year to 31 Aug 2025 £ £ £ £ 3,625,753 267,678 2,991 3,896,422 352,601 208,832 - 561,433 265,111 591,717 141,286 998,114 687,555 772,067 - 1,459,622
	4,931,020 1,840,294 144,277 6,915,591 - - - -
	- 13,558 - 13,558 - 1,380 - 1,380
	4,931,020 1,855,232 144,277 6,930,529

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

PARENT Charitable activities Teaching costs Welfare Premises Administration of the school Costs of schooling Grants, awards and prizes Cost of Raising funds Investment management Total resources expended CONSOLIDATION Charitable activities Teaching costs Welfare Premises Administration of the school Costs of schooling Grants, awards and prizes Cost of Raising funds Investment management Trading costs Total resources expended	Staff costs Other Depreciation Year to 31 Aug 2024 £ £ £ £ 3,330,474 282,846 8,149 3,621,469 349,829 197,884 - 547,713 242,232 511,627 174,615 928,474 703,860 588,258 - 1,292,118
	4,626,395 1,580,615 182,764 6,389,774 - 9,570 - 9,570
	- 17,355 - 17,355
	4,626,395 1,607,540 182,764 6,416,699
	Staff costs Other Depreciation Year to 31 Aug 2024 £ £ £ £ 3,330,474 282,846 8,149 3,621,469 349,829 197,884 - 547,713 242,232 511,627 174,615 928,474 703,860 588,258 - 1,292,118
	4,626,395 1,580,615 182,764 6,389,774 - 9,570 - 9,570
	- 17,355 - 17,355 - 1,512 - 1,512 4,626,395 1,609,052 182,764 6,418,211

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Zoho Sign Document ID: 4AE6BA39F-GUWPRXGXMGP4WOEMKTRKCJLMAC8VY-PMIA-BD6YNNIK

RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

7. Total Resources Expended Includes the Following Items

Charitable activity expenditure includes: Premises repairs Depreciation Governance expenditure includes: Auditors’ remuneration for: - Statutory audit Governors’ liability insurance Total staff costs comprising Wages and salaries Social security costs Pension contributions Total staff costs	Parent Year to Year to Year to 31 Aug 2025 31 Aug 2024 31 Aug 2025 £ £ £ 114,645 98,542 114,645 144,277 182,765 144,277 8,500 7,800 8,500 4,700 5,570 4,700 3,826,363 3,733,390 3,826,363 426,290 362,300 426,290 629,146 529,255 629,146	Consolidated Year to 31 Aug 2024 £ 98,542 182,765 7,800 5,570 3,733,390 362,300 529,255
	4,881,799 4,624,945 4,881,799	4,624,945

The average number of employees was 118 (2024: 115) of whom 51 (2024: 51) were teaching staff.

The number of employees whose emoluments (excluding pension contributions) exceeded £60,000 in the accounting period was:

			Year to	Year to
		31	Aug 2025	31 Aug 2024
£80,000	- £90,000		1	1
£70,000	- £80,000		0	2
£60,000	- £70,000		1	1

The number of employees whose emoluments exceeded £60,000 and who were accruing pension benefits under the two schemes were:

Teachers’ pension / Royal London	Year to Year to 31 Aug 2025 31 Aug 2024 No £ No £ 2 36,564 3 51,347

The pension benefits accrued in the Teachers’ pension scheme amounted to £NIL (2024: £40,118) for the year and £36,564 (2024: £11,229) was accrued in the Royal London scheme.

The total value of key management personnel emoluments during the year was £161,624 (2024: £200,333). Key management personnel comprise senior management staff as noted on page two.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

8. Transfer Between Funds

Income released from endowed funds Loan replacement fund Released from endowed fund Released from restricted fund	Year to Year to 31 Aug 2025 31 Aug 2024 £ £ 8,757 18,597 (9,662) (9,662) 1,012,870 - 572,829 - 1,584,794 8,935

By an order dated 6 January 1992 the Charity Commissioners agreed that the School could expend up to £410,517 from the permanent endowment of the Charity towards development works at Heathfield. This sum resulted from the sale of various surplus foundation properties and is to be replaced out of the income of the Charity in 60 equal instalments of £6,842. The sums so set aside are to be held and invested as permanent endowment of the Charity.

By a further order dated 19 July 1999, the Charity Commissioners agreed that the School could expend up to £141,000 from the permanent endowment of the Charity towards the creation of a Performing Arts Centre. This sum is to be replaced out of the income of the Charity in 50 equal instalments of £2,820. The sums so set aside are to be held and invested as a permanent endowment for the Charity.

During the year, the School sought and obtained approval to remove certain historic restrictions on charitable funds, enabling these resources to be deployed more effectively in support of the School’s current operational and strategic needs. This has resulted in a transfers to unrestricted funds of £1,012,870 from endowed funds and £572,829 from restricted funds.

9. Net Gains / (Losses) on Investments

Realised Unrealised	Year to Year to 31 Aug 2025 31 Aug 2024 £ £ 45,585 (22,494) - 173,398 45,585 150,904

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

10. Tangible Fixed Assets (Parent & Consolidated)

Freehold foundation property Freehold school buildings £ £ Cost At 1stAugust 2024 20,956 2,316,694 Additions - - Disposals - - As at 31st August 2025 20,956 2,316,694 Depreciation At 1st August 2024 - 706,484 Charge for the year - 23,167 Eliminated on disposals - - As at 31st August 2025 729,651 Net Book Value As at 31st August 2025 20,956 1,587,043 As at 31stAugust 2024 20,956 1,610,210 1. Investments Unrestricted £ Balance as at 1stSeptember 2024 1 Additions - Disposals at opening market value - Change in market value - Increase/(Decrease) in cash - Balance as 31st August 2025 1 Comprising: Investment in subsidiary 1 Listed Investments - Common investment funds - Cash awaiting investments - 1		Freehold foundation property Freehold school buildings £ £ 20,956 2,316,694 - - - -	Freehold foundation property Freehold school buildings £ £ 20,956 2,316,694 - - - -	Freehold foundation property Freehold school buildings £ £ 20,956 2,316,694 - - - -	Property improvement/ refurbishment £ 4,837,799 - -	Furniture and equipment £ 1,114,899 20,091 (9,985)	Computer Equipment Total £ £ 1,357,532 9,647,880 6,000 26,091 (971,324) (981,309)
			20,956 2,316,694		4,837,799	1,125,005	392,208 8,692,662
			- 706,484 - 23,167 - -		4,287,574 103,708 -	1,047,506 14,411 (9,985)	1,353,059 7,394,623 2,991 144,277 (971,324) (981,309)
			729,651		4,391,282	1,051,932	384,726 6,557,591
			20,956 1,587,043		446,517	73,073	7,482 2,135,071
			20,956 1,610,210		550,225	67,393	4,473 2,253,257
				Unrestricted £ 1 - - - -	Restricted Endowment Total £ £ £ 527,411 968,499 1,495,911 146,840 272,922 419,762 (653,146) (1,247,109) (1,900,255) 1,753 43,829 45,582 (22,759) (37,972) (60,731) 99 169 269 - - 1 95 168 263 - - - 4 1 5 99 169 269
				1
				1 - - -
				1

11. Investments

All above investments are held in the UK and are held as nominee by Titan Private Wealth Limited (formerly Cardale Asset Management Limited). All investments are held primarily to provide an investment return for the charity and to fund scholarships and bursaries.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

Subsidiary undertaking:

Rishworth School owns 100% of the issued share capital of Rishworth School Trading Limited (Company no. 06637465), a company limited by shares. The subsidiary's main trading activity is the letting of facilities owned by Rishworth School. At 31[st] August 2025 the subsidiary had current assets of £124,166 (2024: £109,973) and current liabilities of £124,165 (2024: £108,472). The results of the trading subsidiary are included in the consolidated results on pages 25, 26, 28 and 29. The principal address of the trading subsidiary is the same as Rishworth School as detailed at page 2. The company traded as follows:

Turnover Administration Costs Interest receivable Covenanted donation to Rishworth school Net Profit/(Loss) for the Year	Year to 31 August 2025 Year to 31 August 2024 £ £ 122,152 107,014 (1,380) (1,512) 633 1,778 (121,405) (107,280) - -

12. Debtors and accrued income

Fees Other debtors Rishworth School Trading Ltd Prepayments and accrued income 3. Creditors Amounts falling due within one year Fees received in advance (note 14) Trade creditors Taxation and social security VAT liability Final term deposits Accruals and deferred income Amounts falling due after more than one year Fees received in advance (note 14) Final term deposits	Parent Consolidated 31 Aug 31 Aug 31 Aug 31 Aug 2025 2024 2025 2024 £ £ £ £ 128,073 83,627 128,073 83,627 - - 11,216 11,868 122,785 108,472 - - 231,462 150,434 231,462 150,434
	482,320 342,533 370,751 245,929
	Parent Consolidated 31 Aug 31 Aug 31 Aug 31 Aug 2025 2024 2025 2024 £ £ £ £ 1,203,385 1,709,309 1,203,385 1,709,309 208,373 237,891 208,373 237,891 166,049 81,506 166,049 81,506 8,730 - 8,730 - 145,043 268,129 145,043 268,129 73,705 83,162 75,085 84,662
	1,805,285 2,379,997 1,806,665 2,381,497
	515,125 953,469 515,125 953,469 306,880 251,134 306,880 251,134
	822,005 1,204,603 822,005 1,204,603

13. Creditors

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

Final term deposits:

Fees in advance, include fees paid in full for the following academic year and future charges. Final term deposits are paid when a pupil registers to join the School and are held until the pupil’s last term when they are released against fees and other charges.

14. Fees Received in Advance

Within 1 year Within 1 to 2 years Within 2 to 5 years Over 5 years Balance at start of year Amount released to income Amount deferred in the year Balance at end of year	31 Aug 31 Aug 2025 2024 £ £ 1,203,385 1,709,309 208,478 421,725 224,768 378,891 81,879 152,853 1,718,510 2,662,778 31 Aug 31 Aug 2025 2024 £ £ 2,662,778 751,898 (1,709,309) (726,898) 765,041 2,637,778 1,718,510 2,662,778

These amounts are expected to be released in the periods as shown above.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

15. Analysis of Charitable Funds

Unrestricted funds

General funds General funds Endowment funds Endowment funds Endowment funds	01/09/2024 Income Expenditure Transfer Gains/(losses) 31/08/2025 1,072,078 6,356,937 (6,844,469) 1,584,794 - 2,169,340
	1,072,078 6,356,937 (6,844,469) 1,584,794 - 2,169,340
	01/09/2023 Income Expenditure Transfer Gains/(losses) 31/08/2024 1,492,586 5,915,962 (6,345,405) 8,935 - 1,072,078
	1,492,586 5,915,962 (6,345,405) 8,935 - 1,072,078
	01/09/2024 Income Expenditure Transfer Gains/(losses) 31/08/2025 989,455 8,757 (8,952) (1,011,965) 43,830 21,125
	989,455 8,757 (8,952) (1,011,965) 43,830 21,125
	01/09/2023 Income Expenditure Transfer Gains/(losses) 31/08/2024 902,246 17,738 (11,325) (8,935) 89,731 989,455 902,246 17,738 (11,325) (8,935) 89,731 989,455

Endowment funds relate to the following:

• Foundation property – £20,956 (2024: £20,956)

• Investments held by Titan Private Wealth Limited – £169 (2024: £968,499)

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

Restricted funds

Titan Gaukrodger Titan Fielding Titan Cockcroft Gaukrodger Fielding Greenwood Cockcroft Early Years Funding Titan Gaukrodger Titan Fielding Titan Cockcroft Gaukrodger Fielding Greenwood Cockcroft Early Years Funding	01/09/2024 Income Expenditure Transfer Gains/(losses) 31/08/2025 1,619 6 (7) (1,616) 1 3 169,095 1,237 (1,479) (174,662) 5,850 41 356,696 2,610 (3,120) (352,035) (4,096) 55 649 (649) - 31,602 (31,602) - 11,949 (11,949) - 316 (316) - - 71,122 (71,122) - - -
	571,926 74,975 (75,728) (572,829) 1,755 99
	01/09/2023 Income Expenditure Transfer Gains/(losses) 31/08/2024 1,703 57 (34) - (107) 1,619 145,188 2,111 (4,096) - 25,892 169,095 326,077 6,701 (11,470) - 35,388 356,696 649 - - - - 649 31,602 - - - - 31,602 11,949 - - - - 11,949 316 - - - - 316 - 44,369 (44,369) - - -
	517,484 53,238 (59,969) - 61,173 571,926

Restricted funds are held for the following purposes:

• Gaukrodger fund – For the promotion and encouragement of the education of one or more boys at the School.

• Fielding fund – To provide scholarships to male boarders who have lived in the ancient parish of Halifax for the last 6 years.

• Cockcroft fund – To provide scholarships to pupils.

• Greenwood fund – For appropriate use by the school.

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Zoho Sign Document ID: 4AE6BA39F-GUWPRXGXMGP4WOEMKTRKCJLMAC8VY-PMIA-BD6YNNIK

RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

16. Allocation of Net Assets

Parent Unrestricted funds Endowment funds Restricted funds Consolidated Unrestricted funds Endowment funds Restricted funds Parent Unrestricted funds Endowment funds Restricted funds Consolidated Unrestricted funds Endowment funds Restricted funds	Tangible fixed assets Investments Net current assets/(liabilities) Long term liabilities Total 31 Aug 2025 £ £ £ £ £ 2,114,115 1 877,229 (822,005) 2,169,340 20,956 169 - - 21,125 - 99 - - 99
	2,135,071 269 877,229 (822,005) 2,190,564
	Tangible fixed assets Investments Net current assets/(liabilities) Long term liabilities Total 31 Aug 2025 £ £ £ £ £ 2,114,115 - 877,230 (822,005) 2,169,340 20,956 169 - - 21,125 - 99 - - 99
	2,135,071 268 877,230 (822,005) 2,190,564
	Tangible fixed assets Investments Net current assets/(liabilities) Long term liabilities Total 31 Aug 2024 £ £ £ £ £ 2,232,301 1 44,379 (1,204,603) 1,072,078 20,956 968,499 - - 989,455 - 527,411 44,515 - 571,926
	2,253,257 1,495,911 88,894 (1,204,603) 2,633,459
	Tangible fixed assets Investments Net current assets/(liabilities) Long term liabilities Total 31 Aug 2024 £ £ £ £ £ 2,232,301 - 44,380 (1,204,603) 1,072,078 20,956 968,499 - - 989,455 - 527,411 44,515 - 571,926 2,253,257 1,495,910 88,895 (1,204,603) 2,633,459

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Zoho Sign Document ID: 4AE6BA39F-GUWPRXGXMGP4WOEMKTRKCJLMAC8VY-PMIA-BD6YNNIK

RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

17. Commitments

At the year-end there were no capital commitments, authorised or contracted for (2024: £nil).

Other financial commitments

Operating lease commitments

Due in under one year Due in one to five years Total operating lease commitments not provided in the financial statements	Parent Consolidated 31 Aug 31 Aug 31 Aug 31 Aug 2025 2024 2025 2024 £ £ £ £ 69,404 81,151 69,404 81,151 196,160 224,037 196,100 224,037 265,564 305,188 265,564 305,188

Total expenditure incurred under operating lease contracts during the year was £74,659 (2024: £88,380).

18. Pension Schemes

Teachers’ Pension Scheme (TPS, ‘the scheme’):

The School participates in the Teachers’ Pension Scheme (England and Wales) (“the Scheme”), for its teaching staff. This is an unfunded multi-employer defined benefits pension scheme and it is not possible or appropriate to identify the assets and liabilities of the Scheme which are attributable to the School. The scheme is an unfunded defined benefit pension scheme where contributions payable are credited to the Exchequer and a notional set of investments maintained. The pension cost is assessed every five years by the Government Actuary. A copy of the valuation report and supporting documentation is on the Teachers’ Pension website (https://www.teacherspensions.co.uk/news/employers/2025/10/valuationresult.aspx).

The contributions payable by the School during the accounting period were equal to 23.68% of pensionable salaries. The employer’s pension cost paid to TPS in the period amounted to £492,764 (2024: £401,071). Under the definitions set out in the FRS 102, the TPS is a multi-employer pension scheme. The School has accounted for its contributions to the scheme as if it is a defined contribution scheme. The pensions charge recorded by the School during the accounting period was equal to the contributions payable.

Group Personal Pension Plan:

Rishworth School operates a Group Personal Pension Plan for all its employees who are not eligible to join the Teachers’ Pension Scheme. All new and existing non-teaching staff will be automatically enrolled into this pension plan although staff are able to opt out of this should they wish. The scheme is a defined contribution pension scheme. As a result, the amount charged to the income and expenditure account represents the Company’s contributions payable to the Plan in respect of the accounting period.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

19. Reconciliation of Net Incoming Resources to Net Cash Flow from Operations

Surplus / (Deficit) Depreciation charged Profit on sale of fixed assets Investment income (net) Bank deposit interest Decrease / (increase) in debtors (Decrease) / Increase in creditors Decrease / (increase) in cash awaiting investment NET CASH INFLOW FROM OPERATING ACTIVITIES	Year to Year to 31 Aug 2025 31 Aug 2024 £ £ (488,480) (429,761) 144,277 182,765 - - (12,610) (26,607) (52,203) (18,781) (124,822) (23,892) (957,430) 1,935,389 60,734 (10,718) (1,430,534) 1,608,395

20. Analysis of Changes in Cash and Cash Equivalents

Balances at 31st August 2023 Net cash inflow/(outflow) Balance at 31st August 2024 Net cash inflow/(outflow) Balance at 31st August 2025	Bank Accounts Total £ £ 695,718 695,718 1,528,745 1,528,745 2,224,463 2,224,463 88,681 88,681 2,313,144 2,313,144

21. Related Party Transactions

No expenses have been reimbursed to Governors (2024: £Nil). No Governor received remuneration or has received any other benefits from the charity (2024 £Nil).

Owing to the nature of the School's operations and the composition of the board of governors being drawn from local public and private sector organisations, it is inevitable that transactions will take place with organisations and individuals in which a member of the board of governors may have an interest. All transactions involving such organisations are conducted in accordance with the School's financial regulations and normal procurement procedures.

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RISHWORTH SCHOOL

Notes to the Consolidated Financial Statements for the Year Ended 31[st] August 2025

22. Events after the Balance Sheet Date

On the 25[th] March 2026 subsequent to the balance sheet date, the Governors resolved to close the Preparatory School with effect from 31 August 2026, being the end of the current academic year. The decision was taken to support the long-term financial sustainability of the School and to facilitate a return to operating surpluses. As a consequence of this decision, redundancy costs of £198,661 are expected to be incurred. This event has been considered a non-adjusting post balance sheet event as the decision was made after the balance sheet date.

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RISHWORTH SCHOOL

Independent Auditors’ Report to the Members of Rishworth School for the Year Ended 31 August 2025

Opinion

We have audited the financial statements of Rishworth School (‘the parent charitable company’) and its subsidiary (‘the group’) for the period ended 31 August 2025 which comprise the Company Statement of Financial Activities (including the income and expenditure account), the Consolidated Statement of Financial Activities (including the income and expenditure account), the Company Balance Sheet, the Consolidated Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• have been prepared in accordance with the requirements of the Companies Act 2006.

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 group and parent 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ (‘the governors’) 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 group and parent 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.

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 governors are responsible for the other information contained in 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.

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RISHWORTH SCHOOL

Independent Auditors’ Report to the Members of Rishworth School for the Year Ended 31 August 2025

In connection with our audit of the financial statements, 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 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 or a material misstatement of the other information. 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.

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 annual report of the governors (incorporating the strategic report and the directors’ report prepared for the purposes of company law) for the financial period for which the financial statements are prepared is consistent with the financial statements; and

• the annual report of the governors (incorporating the strategic report and the directors’ 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 its environment obtained in the course of the audit, we have not identified material misstatements in the annual report of the governors including the Strategic Report.

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

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

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

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

• we have not obtained all the information and explanations we require for our audit.

Responsibilities of the governors

As explained more fully in the governors’ responsibilities statement set out on page 18, the governors (who are also directors of the charitable company for 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 they 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 governors are responsible for assessing the group’s 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 governors either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

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RISHWORTH SCHOOL

Independent Auditors’ Report to the Members of Rishworth School for the Year Ended 31 August 2025

Auditor’s responsibilities for the audit of the financial statements

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

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

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the charitable company through discussions with directors and other management;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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RISHWORTH SCHOOL

Independent Auditors’ Report to the Members of Rishworth School for the Year Ended 31 August 2025

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions;

• assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• inquiring of management as to actual and potential litigation and claims; and

• reviewing correspondence with relevant regulators including the Independent Schools Inspectorate.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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RISHWORTH SCHOOL

Independent Auditors’ Report to the Members of Rishworth School for the Year Ended 31 August 2025

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body for our audit work, for this report, or for the opinions we have formed.

Sally Shacklock FCA (Senior Statutory Auditor)

For and on behalf of Streets Audit LLP Chartered accountants and statutory auditor Tower House Lucy Tower Street Lincoln LN1 1XW

Date: 13 August 2026

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