Registered number: 06084879 Charlty number: 1118435 BROMSGROVE SCHOOL FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
BROMSGROVE SCHOOL FOUNDATION CONTENTS Page Refor•nc• and AdmlnSstratlvg DgWI$ Trugtees. Report Independent Auditors. Report on the Financial Ststemènts 7-10 Statement of Flnanclal A¢tlvltlo$ 11 Balancè Sheèl 12 Notes to the Financial Statements 13-21
BROMSGROVE SCHOOL FOUNDATION REFERENCE ANDADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2025 Trust•es Mr M Taylor. Chèlmian Mr M Luckman, Chaim)an ol the Schocl Governors Mr P Sl J Bowen Mr M l Eseclme Judge R J S Foster Mr T M Hort(M) Mrs J Lodge MrSToweC8E Mr S J Bradley Mr J D8nby- reslgned 13.01.26, rp)led 20.03.26 Miss A Toffloni Mr R Marshall- 8pwinted 20.01.26 Company reglst•r numb•r Charlty r•glstorod numb•r 1118435 R•gl$t•r•d offic• Brc¥ns9rove s¢ Wofce$ter Road Bronwrove Worcesiersh B617DU Company secr•tary James Somn)errille Wèb8116 Audltor8 HaysMaG LLP 10 Que8n Street Place Lon EC4R 1AG Bankers LloydsTSB Bank Pk 19 Church Green Roddbtch B98 (BZ Soll¢ltor8 VeAle Wasbrxough Ofchard Couri Ofchard Lane Brisl BS15WS Inv•$tm•nt Advlsgr¥ CCLA One Angel Lane London EC4 Page 1
BROMSGROVE SCHOOL FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Saran & Parlners LLP 1(M) St Paul's ChWthryd L(UMJon EC4M 88U In$urance Brokers Hallle Andrews Eleven B(indley Place 2 UnSW1ck Square Birmingham B12LP Page 2
BROMSGROVE SCHOOL FOUNDATION TRUSTEES. REPORT FOR THEYEAR ENDED 31 AUGUST2025 Thè FcrtJndalion'$ Tnislees present Iheir rèwt for the year 6nd&l 31 Au9usI 2025 under lh8 Companie$ Act 2006 together with the audited financial slalèmènts the yeac and confirm that lh6 financial slalemenls comply with Ihe requirements of th8 Acl, the charily's governin9 dctumenl and the Stalemenl of Recommended Practice.. Accounling and Reporting by Charities ISORP 20151 Sec(md EdilK)n. effective 1 January 2019. REFERENCE AND ADMINISTRAnVE INFORMATION 8rornsgrove Scfthl F1ndatIOn was incorporated as a mpAnY limiled by 9uaranlee Ire9islefed company number 06084879) on 6 February 2007, and as a charily (registered charily number 11184351 on 20 Mareh 2007. STRUCTURE. GOVERNANCE AND MANAGEMENT Gov•rnlng Documont The Charity is wverned by ils M¢Mandum and Artides of Asswaiion èrisiro from incofP(xalion in 2007. Dlrè¢tor$ and P¥ofesslonal Advls•rs A lisl of TnJ81ees and profeSsal advisers appears on p•Je 1. The Trustees are also Ihe Diiectors ol the charitabl8 company. R•cruStm•nt and Tralnlng of TTuslees The Charity's Trustees are appointed al a meeliTrJ of the Board of Trustees. following a sde¢lion process which lakes into consideralion elyibilily. personal competence, Spec11$1 skills and tral availability. New Tfuslees are inducled into the workings of Ihe Schcd Foundation. irtiuding the provision ol key information covering trx)ard policy. School elhos aThY financial InfrMatIon. R18k Managèmènt The Foundation Tfuslees erA)ducl artrnualty a formal rev¢ew ol Ihe mai( iisks lo which Ihe Fovndalion is expDseiJ. These risks are reviewed on a rolling basis arKJ milKJalion and conlrol proce(lures aro pul in place as necessary. OBJECTS. VISION. OBJECTIVES AND ACTMTIES Charltab19 Oblg¢ts The Charily's objecls as sel out in Ihe MemoraTrJum of Ass(xialion 8.. lo promote and advance anychaittable puvwJ5e (xjnnected with Bromsgrove School I'the S¢hool"I: ar¥J lo promot& other èducational charity purposes Iwhelher Of Th)1 connected with Bromsgrove Schor)11 lor the benefit ol Ihe local communily. Vl8lon To provid@ a Nrsl class educatlon to all deserving pupllg. irra$18 otthe¥parents' abilily lo pay schocl feès. PwJe 3
BROMSGROVE SCHOOL FOUNDATION TRUSTEES. REPORT{CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 OBJECTS, VISION, OBJECTIVES AND ACTIVITIES Icontlnuéd Oblectlvo To raise sufficient funds ullimalely lo enable the School lo provide places to all deserving pupils on a negjs blind basis. This is a k)ng. possibty very loro-lemi ambit wl¥ch will be affecled by investment returns and levels ol econcmic Confide8. as w811 as other fatiors which cannot accuratety bo foreseen al any on6 lime. From Iwng lo tim$. Ihè Trustee8 agfee wilh the Sthoc4 inlerirn milestones towards the ultimate ambition. Actlvltles To meet the ab¢)v6 objectives, il is inteTrJed Ihat appeals will conlinue lo bo mad8 lo all I$& wth a conneth.on lo Br59r0ve School i.e. alumni. parents and friends lo eUrage regular giving and legacies. This is supported by a programme of friend-raising events desiwed to enCOtsre inlefest and involvement with the School and lo raise the prolila of Ihe Fnd8.0n. The annual Appfedauon Lrh ow donors and Lègacy Sodety members was hdd al tho School In May 2024. Sncludlng Ihosa who had given nol lusl moneiary donations but also gifts in kind li.a., olf6rtny advlce lo crn1 sludenls)- Therè Is always a chance for Old 8romsgiovians lo reconnect with Ihe SchDDI al èvenls such as the Fokjndauon L8clur8 in London. and Ihè Speakef's Lunch. held in Roulh H811. Commemor81ion Day Is also a bSg part ol the Bromsgrovian Community. even after pupils and families have loft. In Oecembor 2024. a special Alumni Chrislrnas C¢Mcert was held in Covenl Gar(Jen. Cèntral LcdOn. wilh members ol the School Choir pérforming Handel's Mesah. Tho choir also induded Old Bromsgrovians who rèturned lo p8rform especially lor Ihis concert. Thes6 evénls bring logethef all sections ol tho School. induding OBS, parents (past And presentl. Governors and frien(Js. We ¢onlinu¢ lo host visils by Ohy Bromsgrovians and their families lo the Heritage Centre and off8r tours of Ihe Schod. The Foundatic and Bromsgrovian Office also works with the Fulures deparlmenl lo ensLre Ihal Old Bfoms9rovians conlinue lo offer help arKI suppcrt lo Current pupils. The IocL¢S oflundraising aclNity in the year has teen legaa8s and partal deposit donalions. During the Summer Term, som8 ol our Upper Sixth parenls donated all (Y part of the acceplante d6rrt)sits lo Ihè Feund81ion lolalling £34,51312024.. £17.341). In tm yèar. there were two le9aci8s received lolalling £3.722 {2024.. £100,0(KJ) a. FINANCIAL REVIEWAND RESULTS FOR THE YEAR During thè year, donalKins and legacies have been re¢6iv¢<l of £131,96012024: £193,201). Invoslmenl income of £57.116 (2024: £50.3921 was aL80 eafned. The Foundation Trustees transferred £149,375 (2024= £100.384) lo the School in Ihe year lo assist in the fundin9 ol bursaries. The decision on Ihe amcwnl to be Iransfefred lo the School for use in bursaries and scholarships remalns al the sde discretion of the Foundalion Twslees Pag8 4
BROMSGROVE SCHOOL FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDEO 31 AUGUST 2025 b. In¥tment Pollcy 8nd rI0ne* The Truslees are permilled lo hold a portfolio of inveslmenis and th6 guidance given lo the School's Inveslmenl Committee is lo balance gfowih and income with a medium level of risk. Thesè objects.ves are lo be achieved by investing prleI in a broad rawè of fixed inleresl securits'es and oouilies which are quoted on a rècogrtised Investmenl Exchange unil trusts and OEIC'S l¢)pen ènded inveslmenl companies) which are authorised under Ihe Financial Services and Markets 2fy)0. The FoundaliM's funds ar6 imiesled In th8 CCLACharilies Investment Fund and the Sarisin fund. The Equlllbrium fund was closed during ihe year aThJ funds moved lo Sarasin. The Investment Commillee continues lo nnitOr the perltsrmance ol these funds agalr1 markel benchmarks induding Ihe Private Invest(w Balanced Indox benchmark over a rolling Ihree-year peri(AJ. The inveslmenls have decreased in value over the year £1.993.205 10 £1.943.196. There are underlwn9 unrealised investsmenl losses of £50.00912024'. gain of £148.284) the year end valualior). c. Publlc Bonoflt The Truslees confim Ihal they have ¢¢pIled wlh the duly in Sectic 17 01 Ihe Charities Act 2011 lo have due regard lo the public benefil guanCe published by the Ch8rity Comrni5sion in delem)ining the aclivilies unéerlaken by the charity. d. ReGor¥es Pollcy Al 31 Avgusl 2025. the lelal unrestft"cle<J funds of Ihe Foundal¢on amounled lo £2.165,611. Tho Trusleeg are satisfied Ihal these reserves are sufficient lo meel Ihe FoutNJalion's cucrenl c¢ynmilmenl lo the School in awarding lunds for bursafies. The Trustees have a medium term largel ol raising unreslricled funds lo around £3m in order th81 future awards for lile changin9 bursaries can be made. At 31 August 2025. Ihe total reslricled funds of Ihe Foundation amounted lo £17,697. Nole 13 to the financial slalemenls sel out an analysis ol Ihe assets allribulable lo these funds and the purpose of the funds. Page 5
BROMSGROVE SCHOOL FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Statement of Truste•s' responsl)11111os The Trustees (who aw also Ihe ¢Jireclors of Ihe Company for iho pufFM)se$ ol company lawl are responsible for prepariro thè Tfuslees. R8POrt and Ihe financial slalemenls in with appkcablo law and United Kingdom Accounting Standards Iuniled Kingdom Generalty Accepted Accouniing Pfaclicel. Company law reqvires the Trvslees lo prepare financial slalements each finanelal year. Undèr company law. the Trustees musl Ml approve the financial slal8menls unless Ihey ar6 satisfied Ihal U)ey give a true and fair view ol the slatè of affairs of th8 Company and of ils incoming resources and apIcation ol resources, including ils income and expendilure. for thal perio(l. In preparirwj Iheso financial slal8m8nls, the Tnjslees are required lo= selecl SLJitabl8 C(nting p(4 and then apply tlwn CsIStenI. observe the meihods and prir)cipks of Ihe charit5 SORP {FRS 1021.. makèjudgménls ar acctsunling estsmalés that ar8 re*sonab18 and pnjdenl., stale whetr applicable UK Accounling Slandards (FRS 102) have been followed, subject lo 8ny material departures disclosed and exk4ained in the financial stslements- prepare the financial stalements on the Ang wicem basi5 vnless il is inappropriate lo presL4me Ihal the Company will conllnue in buslness. The Tru51ees are resp)nsible for keeping adequate accounling rewds that are Slrfficienl lo show and explain the Company's Iransacliorbs and disclose with a$able accuracy al any time the financial position ol the Company and enable lo ensure that the fa[la1 statements comply the Companies Act 2006. They are also responsible lor 5afeguaiding ihe assets ofthe Company and hence for taking reasonabk steps for the prevention and detection of fraud and other irregulariligs. Dlsclosure ol inforrnption to ¥uditors Each of the persons th are Trustees at Ihe time %then this Trustees. Rep(xt is approved has conffirmed that.. 80 far as that Trustee is aware. Ihere is no relevant avdil informalicm of whith the charity's aLKlilors are unaware, and that Trustee has taken all the sleps Ihal ought lo Imve been takèn as a Trustè8 In order lo be aware of ny relevant audit informatM)n and to est81}sh that the chatty's auditors are aware of that information. Audltors HaysM8c LLP wtll b6 proposed lor rèthaprmnlnI as authtors In a¢¢or(latKe wilh selOn 485 of tho Companies Act 2006. In preparing this reporl, Ihe Twslees have tsken advania9e ol the small companies exempti$ provided by seclM)n 415A ol the Companies Act 2006. Approved by order of the memters of Ihg board of Truslees aThJ signed on their behalf by.. M Tgybr- an Date.. 14th May 2026 Page 6
BROMSGROVE SCHOOL FOUNDATION INDEPENDENT AUDITORS. REPORTTOTHE MEMBERSOF BROMSGROVE SCHOOL FOUNDATION Oplnlon We have audited Ihe financial siatemenls of BrsgrOVe Sch(M)l Foundalion (the 'charitable company'l for the year ended 31 AugLJsI 2025 which compiise ihe Statem1 of Fit)ancial Activities, the Balance Shoel and the related notes. including a summary ol significant accounting policies. The fancial reporting framework that has been applied in their preparati is aw)licable law aMI United Kit)gdom Accounling Standards, ildIng Financial Reporting Stsr¥Jard 102 'The Financial Reporling SlaiKlard aOicable in the UK a¢KI Republic ol Ireland, Iuniled Kingdom Generally Accepled Acc(wnliro Prte). In our Opini the financial statements= give a true and fair view of the slate of the tharIlab company's affaiis as at 31 Augusl 2025 and of ils incoming iesources ar appl811¢) of reswrces. Including its IrMe and expenditure foi the year then ended: hav& been properly ppared In &crMlanc8 wSlh Uniled Kingdom G6nerally Accapled Accounllng Practice: and havg boen prepared in aC[danWIth the requirements of Charibes Art2011. 8a5is for opinlon We condLKted our audit in aCCdance with Intemabonal Standards on AuditiThJ IUKI IISAS (UK)) and apFAicable law. Our responsibilitie5 under those standards are lurthw des(bed in the Al1¢Or$. restK)nslbilities for Ihe audit of the financial slatèm8nls s8clion ol oui report. We are independer)l of the charitable company in aGcordance with the ethical requirewnents that are rdevanl to our audit of the financial slalements in the Uniled Kingdom, Including the Financial ReportirrfJ Council's Ethical Slar¥Jard. and wè havè lulfillèd our othèr ethical responsibilitias in a¢¢ordance th th8s8 requirements. We belteve Ihal the audit evidence we have oblained 15 sufficient and apprc¢)rlale lo provhje a basls our cwnlon. Conclusions r8latlng to going concern In auditing Ihe financial statèmenls, we have conchJd8d that the Truste8s' uso of the wng ¢on¢em basis of accounting in the preparation of the financial ststemenls iy aFyr(yiale. Based on the w(Kk have perfomied, we have Kjentified any mateiial uneertainties ielaling lo events or conditions that. individually LY cdlecbvety. may ¢ast Signian1 doubt on the ChaT[tab companls abilily lo ¢onlinuè as a going concèm for a ri¢)d of al least iwelve Ircmn when thè financial slalemènts are aulhorised for issue. Our responsibilities and the resp>JnsiLMlities of the Tru$lÈes with respecl to going concern are described in the relevanl sections of this Teport. Page 7
8ROMSGROVE SCHOOL FOUNDATION INDEPENDENT AUDITORS. REPORTTOTHE MEMBERS OF BROMSGROVE SCHOOL FOUNDATION (CONTINUED> Olhèr Infomiatlon The other informali¢)n comprises Ihe informaiion included in the Annual Report other than Ile financial slalernenls and our Auditors, Report Ihereon. The Truslees are responsible lor the other informalion conlained within the Annual Report. Our opinion on Ihe financial statenwls d¢xs not cover the olher informalion and, except lo Ihe exlenl othewwse explicilty slaled in our report. we do not express any form of assurance ¢1ClUSIon Ihereon. Our reswnsibility is lo fea¢J the other information and. in doing so, Consider whether the other inlomialion is materialty inconsistenl wilh the financial slatements or our kNOe¢jge obtaine(l ir) Ihe course of the audit, or otherwise appears lo bo matwially mssslaled_ If we identty such material Incor6islencw C apparenl malerlal misslalefflenls, we are required lo delemline whether this glves rtse lo a material mlsstslemenl in the financial sEalements theelves. If. based on the WL¥k we have perfOrr[d. we condude that there is a material misstatement ol this other information. we are required io wort that fact. We have wlhing 1¢ port in Ifms regard. Matters on whlch w• ar• r8qulred to r•port by ex¢gptlon W8 have nothing lo report in fespecl of the followrKJ mallers vthere Ihe Charits"es {Accounls and Reporlsl Regulati$ 2C#)8 requiS us to repcfft lo yw if. in our opinion: the information given in the Trustees. Report 15 irKon5islenl any material respecl wilh the financial 8tstements', or sufficienl accounting recor(Is have Th)1 been kepl: or the financial slalemenl$ ale not in agement with th6 &c(xJnting [ecd$ and ieluins- we have ml received all the informalion and explana'OnS we require lor our audit. Responslbllltlo5 of tnistO05 As explained more fully in Ihe Twslees, RespOnSili11eS Stskmenl. the Truslees (w7 are also the direclors of th6 charitable company Irx the purposes of MpanY tawl are responsible lor the preparalion of Ihe financial si81enIS and for being satisfied that Ihey 9bve a Iwe and fair view. and for such inlernal conlrol as the Twslees delermine is necessary lo enable the preparalion of finanaal slalements Ih8t are free from material misslalemenl. whelhef due lo fraud oi eNor. In preparirg Ihe financial $18lemenls. the Trustees are responsible for assessing Ihe charilable company's ability lo continue as a gn9 concern. disdcing. as applicable. maltefs related lo going concern and using Ihe going ¢oncem basis ol accountia unless the Trustees eith8r intend lo liqukjale the chafilabl6 company or lo cease operations. cw have no realistic allernalive but lo ¢Jo 50. Page 8
BROMSGROVE SCHOOL FOUNDATION INDEPENDENT AUDITORS. REPORT TOTHE MEMBERS OF BROMSGROVE SCHOOL FOUNDATION (CONTINUED) Audltors. r•sponsibllStlo5 for tho audlt of thg flnanclal slat¢m•nts Wg have been appoinle¢J as audilor under seclK)n 145 of the Charilies Act 2011 and fepori in accordance with Ihe Act an¢J relevant regulations made or having effect IheieurKler. Our obJ"eclives are lo obtain (easonab assurarte about whether Ihe financial slalemenls as a whole are free from material misslalemenl. whelher due lo fraud or error. and lo issue an Auditors, Repori Ihal includes our opinion. Reasonable assuran¢e is a hi9h level of assurance. bul is not a guaiantee that an audit conducted in accordance with ISAS IUKI will aayS delect a mateilal misstslement when it exists. Misslaternenls can arise from fraud eiror and are consldered material rf. indimdually or in the aggregale. they could reaSonaY be xpecled lo influence the decisions ol useis taken ¢)n the basis of these financial statements. Irregularities. including Iraud. are inslances of non-comptiance wlh laws and regulalws. We design predureS in line with our responsibililies. outlined above. lo detecl material misslatennls in respecl ol irregularilies, ir)cluding fraud. The extent lo whit procedures are capable of delecling irregularilifrs. including fraud is detailed below.. Based on our underslandin9 01 the charilable company and the environment in which il operates, we idonlifi8d Ihal (he principal risks of non-compliance wilh laws and fegvlalions relaleo lo charity law, and we considered the extent lo which Tr)n-compliance might have a material effeel on the Iinanual stalemenls. We also considered those laws and iegulalions that have a direcl impact the preparation of the financial slalemenls such as Ihe Companles Act 2CK)6 and the Charities Act 2011. We evalualed management's incentives an¢J opportur)ities lor fraudulent m8nipu181l of Ihe financial slalemenis lincludin9 the risk of override of conlrolsl. Audit procedUS performed by the engagement team included.. Inspecung c¢xr8spondence wlth reguL8lL¥S aThJ tax authCtieS. Discussions wilh management including consideralion of kTh)wn or suspeded instances of non-compliance with laws and regulation and fraud., Evaluating managemènt's controls designed to wevent a5 detect IrrèJularities,' Identifying and testing irna. Challenglng assumptions and judgernenls made ty management in Ihelr #c&ThI1rJ a8MIl&s. Because ol the inherent limitations ol Èn audit. Ihér6 is a risk that we will not delect all Irregularilles, Includlng tho5818ading to a material misslalemenl in the financlal slalemenls or non-compllan¢e wilh règulallon. Thls rfsk Increases the me that compliance with a L2w or regulouon Is removéd from the events and transactions relle¢l8d n the Ilnandal slalemenis. as we 11 be less likely lo become aware of instances of rn-complI8nC@. The risk is also gcèater regardlng IrrèguL4riti8s mrd due to fraud ralher Ihan error, as fraud Involves Inlènlional concealment. forgery, colluslon, onNssion or misr8presenlatM)n. A further description of our reSpOnsli1111eS lor the audil of fancial $18lements is located on the Financial Reporting Council's w8bslte al= ¥Mv.frc.or .uklaudilorsres nsilxlilies. This descrlplion lorms part of trjr Audllors. Report. Page 9
BROMSGROVE SCHOOL FOUNDATION INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF 8ROMSGROVE SCHOOL FOUNDATION (CONTINUED) Use of oui r•port This report is made solely lo the chari18ble compan$ Iwslees. as a ts)dy. in accordance wilh Part 4 01 Ihe Charilies (Accounts arKI Reportsl Regulal#)ns 2008. Oyr a¢>Jil work ha5 been undertaken so Ihal we might stale lo Ihe charitable cornp4ny'5 Iruslees Ihose matters we are required lo state lo them in an Auditors. Report and for oltter purpose. To Ihe lullesl extent FErmitted by law. we do nol accept or assume restKTrr)sibility lo anyone other than the charitsble company its members. 85 a body. for audit work. for this rep)rt. or fctr the opir)ions we have lorr1. Hay5Mac LLP Adam Halsey {Ser)ior statul¢yYAJIIor1 10 Queen Streei Place London EC4R 1AG Dale-. 2110512026 Haysmac LLP are eligible to act as authlix5 in tÈmis of section 1212 of the Companies Act 2CK6. Page 10
BROMSGROVE SCHOOL FOUNDATION STATEMENT OF FINANCIALACTIVITIES (INCORPORATING INCOME AND EXPENDttUREACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2025 R•strkt•d Unrestrlct¢d funds funds 2025 2025 Total funds Total lunds 2024 2025 Income from.. Voluntary inc(¥me'. Donations and legacies Investments 131.960 57,116 131.960 57,116 193.201 50.392 Total income 189.076 189,076 243.593 Expenditure on: RaSsing funds Chaiitable aclNthes 149,375 149,375 100,458 Total expendllure 149,375 149.375 100.458 Net Income before net galns Iloss851 on Investments Nel gairks (losses) M inves1nIS 39,701 150.009) 39,701 150,0091 143.135 150.115 Net movom•nt In funds 110,3081 110,3081 293.250 Rèconclllallon of funds: Total funds broughl foTh¥ard N61 movemenl in furKIs 17.697 2.175.919 {10,3081 2,193.616 (10.3081 l,9.36fj 293.250 Total funds carrf•d forward 17.697 2.165.611 2,183.308 2.193.616 All of Ihe eharilable c(xnpanWs activities during the above Iwo financial years derived from eonlinuing 8clivities. All ol the charitable company's irKome, expendiluie 8nd gains in Ihè Prior year related ID unrestricted funds. The noley on pages 13 to 21 fomi part of these ffinancial slalements. Page11
BROMSGROVE SCHOOL FOUNDATION REGISTERED NUMBER: 060848T9 BALANCE SHEET AS AT31 AUGUST 2025 2025 2024 Nolo Flxed ass•ts Fixed assel inveslments 1.943.196 1,993,205 1,943,196 1.993.205 Current assets D8blor$ Ca¥h 81 bank gnd Wb harKJ 1722 294.506 53.889 195,520 297,228 249,409 Cieditors.. 8mounts falli due within <e year 10 157,116) (48.998) Net ¢urr6nt assets 240.112 200,411 Total assets less current liabiltties 2.183,308 2.193,616 Charlty funds Reslricled funds Unr8slricled funds 11 17,697 1165,611 17.697 2.175,919 Total fund$ 2,183,308 2.193.616 The flnanclal slalamenls have been pr6par8d kn accc*danc8 wilh the ryovlslons aprlicabl8 lo enlStles sublact lo th6 small compan5 règimè. hefi al stalemenls were approved and aulhortsed forissue by the Trustees and signed on their behalf by: M Taylor- Cha an Dat8.. 14th May 2 The notes on pages 13 to 21 form part ol these financial slatemenls. Page 12
BROMSGROVE SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 G•n•ral Informallon Bromsgrove School Foundalion is a c£mpany limited by guarantee, nol having a share c8pi181 and Is govemed by Sts memorandum and artleS of assodalion. A¢countlng pollcles 2.1 Bas18 of prèparatlon of flnanclal 8iatoment$ The financial slalemènts have bew rwred in ath)rdanc8 wilh th8 Chariliés SORP IFRS 102} - Accounting and Rewriing by Charities.. Slalemenl ol Recommended Praclice applicable lo charilies preparing their 8ccounts in accordance with ihe Financial Reporting Standard applic8bl8 in the UK an RerAJbllc ol Ireland IFRS 102)16ffeelive 1 January 20191. lh8 Financial Reporting Slanclard applicable in the UK and ResxJbli¢ of IreL4nd IFRS 102) and lh8 Companies Act 2W6. 8romsgrovè Scthool Foundatth mÈ6ts Ihè d8linlt4on of a publ nÈrIt enllty under FRS 102, Assèl$ and liabili118s ir6 inilièlty r6¢09nised al hislrxical eosl or Iransaction valué unlèss olh6nvise slalod in Ihe relevant accounlin9 policy. 2.2 InGome Inveslment income is accnted for on a receivable basls. Donalions and18gacie$ are induded on receipl crf bèing notif 018 dislribulion if 6arh'er. 2.3 Expendltur9 Expendllufe Is allocaled to th6 partkular actNity where the cost relales difecily lo Ihal aclNIty. Expendllure on ch8rilable aclivilies Is Sncufred on direclly undèrtaking lh8 activiti@s which furthèr lh• Company's objeclNes. as well as any assock4led suptx)rt cosls. Grants payable are charged in Ihe year wthen Ihe offer is madg excepl In those ¢as8s wheré lh8 off8r is conditional. such grants bwng recognised as expenditure wn the conditions allaching are (ullilled. Gfanls off6fed suW"6cI to tdI1$ which have nol been m81 al th6 year and are noted as a commitment, bul not accrued as expenditure. Govemance costs &imprise direct cosls for Ihe slalulory and govemanca expèndilura of the charlly logelher with an allocat ol suppcrf ¢osls. 2.4 Investments Listed inveslmenls are vakjed al bvJ-p¥ice on the balare sheel dale. Realised and unrealised gainsAosses on investments are induded in the Slalemenl of Financial Aciivities. 2.5 Debtorn Other debtors are recognised al the Set1ment &noJnt. 2.6 Cash at bank 8nd In hand Cash at bank arbd in hand includes cash and short-term highly liquid inveslmenls with a short maturlty of three months or less Irom the dats of acquisition opening of the deposit or similar accounl. Page 13
BROMSGROVE SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 AccountSng pollcl•$ {¢ontlnu•dl 2.7 Llabllltl8s and provlslons LiaLMlilies are recogni5ed when there is an oblall0 at th& Balance Sheet dalo as a rosull of a pasl evenl. il is probable that 8 transfer ol economic Ixnefit wll be required in setuemenl, and the amwnl of the settlement can be estimated reliably. 2.8 Financlal In5trurnents The Company only has financial assels and financial liabililies ol a kind that qualify as basic financial inslrurnenls. Basic financial in51rumenls are inilially reco9nised al Irans8ciion value and subsequently rneasured 81 their settlemelll value with the exception of bank loans whKh ale subsequenuy measured al amcrfised cost using the effeth? terest metlK¥J. 2.9 Fund Unrestricted funds comprise accumulated surptuses and deficits general funds. They are available f(* use al Ihe thscfetw ol the Trustees In fvrtherance ol the general charitable objects. Reslricled funds are fuTrJs which afe to be usgj in accordarKe wilh Specific restriclions imped by the donor. Income from donatii>ns and legacie¥ Unrestrlctod funds 2025 Total funds 2024 funds 2025 DonatnS 131.960 131.960 193.201 Total 2024 193.201 193.201 Invostmont Incomo Vnrestilctod funds 2025 Total funds 2025 Total funds 2024 Income from local lisle(l inveslwEnls 57.116 57,116 50.392 Total 2024 50,392 50.392 Pa9e 14
BROMSGROVE SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of expenditure on charitable a¢tiNrylie$ Summary by fund type Unre$trf¢ted lund5 2025 Total 2025 Tot 2024 Awards 149,375 149,375 100.384 74 Expendiluie 149,375 149,375 100,458 Total 2024 100.458 100.458 Page 15
BROMSGROVE SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGVST 2025 Analysis of eipendilure by activities Activities undertaken directly 2025 Total funds 202S Total funds 2024 Awards Expenijlu 149,375 149.375 1LX).384 74 149.375 149.375 100.458 Total 2024 100.458 100,458 Fixed asset investments Listed Investsnenls 2025 2024 Valuatlon At 1 September 2024 Additions 1,993.205 1,843.328 373,000 Disposals 1373.2391 Revalua11$ {,009) 148,284 RealSsed gains 1,832 Al 31 Augusl 2025 1.943.196 1.993,205 Page 16
BROMSGROVE SCHOOL FOUNOATION Trustees Remuneration No Irustee re(*lved any mme[3110n or re1mlent ofexp8ns8. Dgbtors 2025 2024 Other det4ors 2.722 53.8B9 10. Creditors- Amounts falling due within one year 2025 2024 knounts payable to Brornsgroye Schcd 57.116 48.998 Page 17
BROMSGROVE SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 11. Stst•m•ntoffunds Balance at 1 S¢pl¢mber 2024 Balance at Gainsl 31 August (Losses) 2025 Income Expenditure Unreslrkted funds General Funds- all lunds 2.175.919 2,175.919 189.076 189.076 1149.375) 1149,3751 150,0091 150,0091 2.165,611 2.165,611 Rè8trf¢td funds Restricted Funds . all fvnd¥ 17,697 17,697 Total of funds 2,193.616 189.076 {149,375) 150.0091 2.183,306 The Reslricled Funds include.. The John Nichoms Fund 1£5.251). whKh represents a donalion lo be used f(x the Brcnsgrove School Expedition Club or iflhis is not rx)ssible Ihe inleresl shwld be used to fund an annijal award lo a deserying Sixth Forfflei 10 3tten(l a qualifng course al one of the Gfeal (hJldwr Pursuit Cenlres. The Roger Brazier Fund1£2.4461. represents donalions to be used to supk*yt the learning of pupils with Dyslexia. The Tim Taylor fund (£10.CM)01. whith is to be used for development ol the Leaming Resource Centre Page 18
BROMSGROVE SCHOOL FOUNDATION NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2025 11. Statemenl ol funds {ntinued) Statement ol funds- prfor year Balance al 1 Septemb 2023 Gainsl IL055es) 31 August 2024 Income ExrK11tre Unrestricted funds General Funds- all funds 1.882.669 243.593 (1W.458) 150.115 2.175,919 R•$trlct•d funds John Nicholls Fund Roger Brazier Fvr¥J Tim Taylor Fund 5251 5.251 2.446 10.000 10.CI)O 17,697 17,697 Total of lunds 1,9LK).366 243.593 (ILK).4581 150.715 2,193.616 Page 19
BROMSGROVE SCHOOL FOUNDATION NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12. Summary¢ffunds Summary of fund¥- Current y•ar 8alan¢e at 1 S¢ptembei 2024 Balance at Gainsl 31 August {L05ses) 2025 InryNne Expenditure General funds Re5tric¢ed funds 2,175,919 17,697 189.076 (149.375) Iso.0091 2.165,611 17,697 2.193.616 189.076 (149.3751 ISO.CrfI9I 2.183,308 Summary of fundg. prlor year Balance al 1 September 202? Balance al 31 Augusl 2024 Gainsl IL¢)ssesl Irme Expendilure General funds Restle fvrvjs 1.882.669 17.697 243.593 1100.4581 150,115 2.175,919 17,697 I.9.368 243.593 1100,4581 150,115 2.193,616 13. Analysls of net assets between fvnds Analysls of net a$t$ between funds- Current period R•$trlcted Unr•strlcted lundts funds 2025 2025 Total fund8 2025 Fixed asset yeS¢mentS 1.913,196 1,943,196 279.531 297,228 (57.1161 157,116> Current ats Cre(lilors due wiihln one year 17.697 Total 17.697 2.165.611 2,183.308 Page J)
BROMSGROVE SCHOOL FOUNDATION NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Analysis of not assets between funds (continued Analysis of net assets between funds - prior peri¢d Restrle Unrestricted fwds funds 2024 2024 Total funds 2024 Fixed asset investments Net Ojrient assets Creditors due wilhin one year 1,993.205 231.712 148,9981 1.993,205 249.4Q) 148.9981 17.697 Total 17,697 2,175.919 2,193.616 14. ULTIMATE PARENT UNDERTAKING Bmmsgrove Sch1 Llmbted is the sole mémber of Broms9rovè SchcM)l Foundatlon and is Ihe ullimal8 parenl company. The Foundalion made awards of £149.375 12024." £1(K).3841 lo Bromsgrove School Limiléd towards Ihe IVling ol l)ursariès. There were no other related party IransaclN)ns. Page 21