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2025-08-31-accounts

Charity number: 1137167 Registered number: 07252866 England and Wales

Ruskin Mill Trust Limited (A Company Limited by Guarantee)

Trustees’ Report and Financial Statements

For the year ended 31 August 2025

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

CONTENTS

Page
Legal and Administrative Information 3
Report of the Trustees 4
•
SECTION 1: Introduction by the Chair of Trustees		 4
•
SECTION 2: Strategic Report		 12
•
SECTION 3: Structure, Governance & Management		 22
•
SECTION 4: Environmental Report		 25
•
SECTION 5: Section 172 Statement		 30
•
SECTION 6: Financial Review		 32
Independent Auditor’sReport 34
Group Statement of Financial Activities 38
Group Balance Sheet 39
Charity Balance Sheet 40
Group Cash Flow Statement 41
Notes to the Financial Statements 42

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Legal and Administrative Information Legal and Administrative Information
Trustees Aonghus Gordon OBE, Hon DUniv, MEd (Chair)
Helen Kippax (Vice-Chair)
Constantin Court
James Fearnley
Lynne Griffin
Vivian Griffiths
Dr Johannes McGavin (appointed 16 September 2024)
Guy Vassall-Adams KC
David Wragg
Company Secretary Anna-Marie Daniels (appointed 15 September 2025)
Founder Aonghus Gordon OBE, Hon DUniv, MEd
Executive Team Aonghus Gordon OBE, Hon DUniv, Med–Founder (resigned from
Executive Team on 1 September 2025)
Tara Gratton–CEO
Oliver Cheney–Director of Colleges & Rise
Helen Kippax–Senior Executive Mentor
Constantin Court–Director of PSTE Pedagogy & Staff Training
Associate Members Shazuli Iqbal–Chief Financial Officer
Lindsay Wilkinson–Chief People Officer
Registered Number 07252866
Charity Number 1137167
Registered Office Ruskin Mill
Old Bristol Road
Nailsworth, Stroud
Gloucestershire
GL6 0LA
Auditor RSM UK Audit LLP
10th Floor
103 Colmore Row
Birmingham
B3 3AG
Bankers Lloyds Bank Plc Triodos Bank NV Brewin Dolphin
12 Rowcroft Deanery Road 81 Colmore Row
Stroud Bristol Birmingham
GL5 3BD BS1 5AS B3 2AP
Solicitors RWK Goodman
69 Carter Lane
London
EC4V 5EQ

Notes: The Registered Office (above) is also the principal office of Ruskin Mill Trust Ltd. The Trustees are also Directors for the purposes of the Companies Act 2006 and company law.

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Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Report of the Trustees

The Trustees present their Report, including their Directors’ Report, Strategic Report and Financial Statements for the year ended 31 August 2025, which have been prepared in accordance with statutory requirements, the Articles of Association and the Statement of Recommended Practice 'Accounting and Reporting by Charities'. The Legal & Administrative Information on page 3 forms part of this Report.

In undertaking their responsibilities during the year, the Trustees have given due consideration to Charity Commission published guidance on the operation of the Public Benefit Requirement.

Throughout this Report, wherever reference is made to “Trust”, this refers to “Ruskin Mill Trust Ltd”.

Section 1: Introduction by the Chair of Trustees

I am delighted to confirm that the Trust continues to grow. The schools are expanding, as are the colleges, with pupils and students participating and experiencing new and innovative ways in which their education may be delivered. Along with Practical Skills Therapeutic Education (“PSTE”) as the researched method of the Trust, young people also take regular exams: GCSEs and vocational qualifications. Our pupils and students achieve remarkable results, due to the care and support they receive from staff.

At the end of every year students graduate and an individual or notary accompanies the celebration, handing out the qualifications, certificates and achievements. Students offer gratitude to their parents, fellow pupils, carers, tutors and craftspeople, who build formidable and long-lasting relationships with them.

Brantwood Garden School pupil:

“It’s like a very big, warm embrace when you come to Brantwood.”

Freeman College student:

"Before I came to Freeman, I felt like l couldn't do anything...but now I've had my work exhibited in the V&A Museum!"

Ruskin Mill College students being handed their graduation certificates by Olympian, Peter Reed

Students from across the Trust are working hard on a cross-Trust Parcival play, written by Peter Oswald. This play will tour the UK in the following two years. A play like Parcival, who is seeking to answer the deeper questions of life, contributes to the searching of a new identity which our students experience themselves.

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

There are more new developments across the Trust. At Sunfield we have designed and built a new lower garden school, opened in May 2025.

Drawing of the Sunfield Lower School by Dilly Williams

We were delighted by the visit of HRH Princess Royal, who visited the Wool Barn on 7[th] June 2024 and spoke to staff and students. HRH was gifted a rug made by a student, Delano, who subsequently received a handwritten note of thanks.

HRH The Princess Royal talking with students and staff in the Wool Barn

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

In conversations with Ruskin Mill Trust trustees, I have brought it to their attention that I wish to step down from the CEO position in Ruskin Mill Trust. However, I wish to contribute in a number of other areas within the Ruskin Mill family. With this in mind, the Trustees have endorsed Tara Gratton, to step into a succession process moving into the role of CEO from 1 September 2025.

We were delighted with the opening of Grace Garden Upper School at the Helios Centre in Bristol, giving specialist provision to students to achieve both academic and practical skills. The ground floor remains as an Anthroposophic medical centre, including Doctors and therapists whose services are offered privately.

Looking to the future, we are also pleased to confirm the opening of Ashdown Garden School, on the site of Emerson College, will be opening July 2026, as well as the planned opening of Coleg Tyr Eithin in September 2026.

We are also delighted that the second group of Masters students in Practical Skills Therapeutic Education started a 2[nd] round in the trust method. We want to congratulate the current group for completing their theses and dissertations.

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Aonghus delivering a presentation at Sekem and a group photo of the conference delegates

In September 2024, Aonghus and Dr Sarah O’Flynn travelled to Egypt, to take part in the World Goetheanum Association conference at Heliopolis University and Sekem, looking at Sustainable Development for Global Impact. Both Aonghus and Sarah presented on PSTE and the method to the conference delegates, which was very warmly received.

Achievements by pupils & students

Throughout the year, as part of the curriculum offer, pupils and students received a wide range of qualifications.

In the Colleges:

85% of students made good/excellent progress

Across Ruskin Mill Trust colleges, students achieved 181 accredited qualifications in English, maths and vocational/ personal development.

In addition, 183 different work experience placements were accessed by Ruskin Mill Trust college students over the year, helping students to develop key vocational skills.

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

In the Schools:

Across the Ruskin Mill Trust Schools, 77 qualifications, including A levels and GCSE’s were achieved by pupils.

Statutory Inspections

During the year, Ruskin Mill Trust received a number of inspections from Ofsted, Estyn, CIW and Ofsted Care. In all cases, the results have been Good or Outstanding and the profile of the Trust has risen due to these results and positive comments from Inspectors. The results set out in the table below show the impact of the increasing levels of skill and commitment of staff across the whole Trust, in being able to implement all aspects of the method and vision of the Trust, Practical Skills Therapeutic Education .

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

SCHOOLS Educaton Date of Inspecton Care Date of Inspecton
Brantwood School Good 1 July 2025
Sunfeld Garden
School		 Good to
Outstanding		 21 May 2024 Good 9thSeptember 2025
Clervaux Garden
School		 Good to
Outstanding		 26 November 2024
Grace Garden School Good to
outstanding		 3 June 2025
COLLEGES Educaton Date of Inspecton Care Date of Inspecton
Ruskin Mill College Good 16 May 2023 Good to Outstanding 7 September 2021
Glasshouse College Good 12 October 2021 Good 15 March 2022
Argent
College		 Good 12 October 2021 Good 15 March 2022
Freeman
College		 Good 6 March 2024 Good 13 July 2022
Coleg Plas Dwbl Good 1 July 2024 Good 29 June 2024
Ty'r Eithin Good 1 July 2024 Good to Outstanding 11 July 2024
RISE N/A N/A Care Date of Inspecton
Clervaux Rise Good 14 June 2018
Seòl Rise Good to
Outstanding		 9 May 2025

Governance and Senior Leadership

At the 2025 AGM, the following were appointed as trustees to govern the Trust:

Aonghus Gordon OBE, Helen Kippax, Constantin Court, Guy Vassall-Adams KC, James Fearnley, Dr Johannes McGavin, Lynne Griffin, Vivian Griffiths, David Wragg.

The operational and strategic management of the Ruskin Mill Trust group is delegated by the Board of Trustees to an Executive Team that meets weekly and is the senior leadership team for the whole group. Membership is: Aonghus Gordon OBE – Founder & Chair (resigned 1 September 2025) Tara Gratton – CEO Oliver Cheney – Director of Colleges & Rise Helen Kippax – Senior Executive Mentor

Constantin Court – Director of PSTE Pedagogy & Staff Training

Associate Members: Shazuli Iqbal – Chief Financial Officer Lindsay Wilkinson – Chief People Officer

In addition, the Board of Trustees has formed two Sub-Committees, each comprising trustee members and co-optees and each with specific Terms of Reference and a mandate that has been delegated by the main Board.

Finally, I would like to thank our parents, students and pupils for their progress at Ruskin Mill Trust’s Centres, and I would also like to thank our patron Karen Morgan OBE for her steadfast support. Many of the stories of success, achievement and overcoming significant barriers to learning were described in great detail at the End of Year ceremonies at each of the Trust’s schools and colleges. It is humbling to hear them.

Aonghus Gordon OBE, Hon DUniv, MEd – Founder & Chair

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Ruskin Mill Trust Limited

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Section 2: Strategic Report

2.1 Operational Performance

Report from the Executive Team

The Executive Team has continued to provide strong leadership for the Trust’s operation throughout the academic year. As part of the CEO succession planning, Tara Gratton took on the role of Chair of the Executive Team from January 2025. The Civil Service has continued to work closely with the Executive Team, providing additional expertise and guidance in key cross-Trust operational areas. The Executive Team, with the support of the Civil Service, has then been able to focus on key operational and developmental areas including the developments at Emerson College, and planning for Ashdown Garden School.

The Executive Team has continued to monitor data and review outcomes as part of the ongoing quality assurance process, but also in preparation for external quality assurance visits from local authorities Ofsted, Estyn etc. Over the year, the colleges and schools have received several local authority visits, and Coleg Plas Dwbl, Grace Garden School and Brantwood Garden School have received Ofsted/ Estyn inspections, the outcomes of which were all good. In addition, Seól Rise had a Scottish Social Care inspection which had very good results. Full results of all inspections can be found in Section 1.

The Executive Team has worked closely with Provision Leaders and the Ruskin Mill Civil Service heads to address areas, including operational concerns, provisions growth and development, and infrastructure development. The Executive Team continues to receive weekly reports from each of the provisions and the Ruskin Mill Civil Service and now also receives termly reports from the Biodynamic Land Managers. These reports help to identify areas where the Executive Team needs to work more closely with an operational area and where they can celebrate successes.

In addition to the weekly review of key areas of compliance including safeguarding, health and safety, student concerns, staff concerns, complaints and compliments, over the past year, the Executive Team has had several key areas of focus:

Since Emerson College came into Ruskin Mill Land Trust in October 2024, the Executive Team has supported the transition and developments in several ways. One key area the Executive Team has been exploring is how to increase income and make Emerson courses more affordable and accessible. Working with Mark Higgins, (Head of Quality (Qualifications & PSTE Assessment)), the Executive Team has explored whether or not some courses could be delivered at Emerson using the Apprenticeship Levy funding. Courses are currently being identified that sit within the 4 pillars of Emerson (Health, Education, Arts and Land) and where the apprenticeship frameworks could be adapted to include the insights and trainings connected to PSTE. The next step is to start the process of registering Emerson College with the Apprenticeship Scheme.

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Under Tara’s leadership and chairing of the meetings, the Executive Team continues to be able to provide strategic leadership, support and challenge to the operations.

Staff Training and Development

The Ruskin Mill Centre for Practice (RMCP) and Hiram Education & Research Team (HEaRT) are tasked with furthering the second of the Trust’s charitable objects: “To promote research into the practice and development in [learning difficulties and/or behavioural problems or special educational needs through training in the areas of arts, crafts, agriculture and environmental sciences, with particular reference being given to the indications and insights of Rudolf Steiner in these areas] these areas of education provided that all research findings will be widely disseminated.” To achieve this, the Trust continues to invest in staff and trustee training that centre on mandatory requirements, knowledge and skills in the Trust’s unique Method, Practical Skills Therapeutic Education (PSTE).

The Trust’s commitment to the development of staff skills and professionalism, and its unique position within the education arena, has led it to the significant development of establishing RMCP. This is its Higher Education provision and is responsible for the design and delivery of its master’s degrees and, ultimately, for seeking registration with the Office for Students (OfS) and its application to gain Taught Degree Awarding Powers (TDAP). In time, this will enable the Trust to deliver, validate and award its own degrees.

Whilst working towards OfS registration and TDAP, RMCP has designed and delivers MA in PSTE (validated through a collaborative partnership with the University of Huddersfield) which is currently recruiting its third group of students who will start in August 2026. This degree critically explores and examines the function and impact of the Seven Fields of Practice helping to safeguard the Trust’s Method for the future and secure its authenticity and integrity, ensuring students and pupils benefit from innovative research-enhanced practice. Additionally, RMCP has signed a further Collaborative Partnership with Arts University Bournemouth, to validate our newest master’s degree, MA in Transformative Learning. This degree will start in October 2026 and offers a distinctive approach to postgraduate study, integrating artistic practice, scientific observation and philosophical inquiry to re-imagine ways of knowing and becoming for contemporary challenges.

Analysis and feedback from last year’s training offer:

Taking all the education and training offered in the last academic year 2024-25, HEaRT offered a total of 1,260 training sessions (excluding online training and Ruskin Mill Trust Courses as they are delivered centrally) and there were 29,147 training occurrences cross-trust (including online training and Ruskin Mill Trust courses). Every staff member completed an average 19 distinct trainings over the academic year, which continues the average of 2023–24. Analysis shows there were 2,109 occurrences of Ruskin Mill Trust Course attendance in 2024-25, a 47% increase on 2023-24.

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All training (online, Ruskin Mill Trust courses and provision based) broadly fits into four categories: Knowledge: Teaching and Learning; Specialist Diagnoses; Personal Care etc. Mandatory and Compliance: Safeguarding; Prevent; Safety Intervention Training; Health & Safety etc. PSTE (method, skills and craft): Visions & Values; Seven Fields; experiential craft etc. PSTE (Ruskin Mill Trust courses): Nutrition; Homemaking; Pedagogic Potential of Craftwork etc.

PSTE courses contributed the largest proportion of occurrences this year, although there is an even divide across the categories. This continues the trend for a more balanced offer of courses compared to the years 2017 - 2022, where there were more occurrences of mandatory and compliance trainings.

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Employment of disabled persons

The group gives full and fair consideration to applications for employment from disabled persons, having regard to their particular aptitudes and abilities. Should an employee become disabled during their time with us, the group strives to ensure their employment continues, arranging appropriate training and making reasonable adjustments where possible. The group’s policy is to encourage the training, career development, and promotion of disabled persons.

2.2 Financial Review

Admissions & Business Development

The Trust experienced another year of strong growth in 2024-25. Both fee income and student & pupil numbers for the group showed substantial gains compared to the previous year. Student and pupil numbers are currently 483 for 2025-26. Projections for student & pupil numbers in 2026-27 are satisfactory.

In the Group Statement of Financial Activities, Fee income is included in ‘Charitable activities’ for charitable companies and ‘Other trading activities’ for non-charitable companies.

The Admissions teams have been diligent to ensure that all leavers are replaced with new students to maintain and grow numbers. The Trust is in a strong position in terms of student numbers for the academic year 2025-26 and beyond, working on future year cohorts, as many enquiries are in for 2-3 years ahead.

There has been focus on areas like Clervaux, and the school is now nearly at capacity due to a lot of proactive work from the central admissions team and the team at Clervaux. Admissions will continue to promote the profile of Clervaux Rise to work on increasing their numbers further. The Trust Head of Business Development is working closely with teams at Ashdown Garden School and Coleg Ty’ r Eithin to ensure promotion and engagement, which is key for the growth of both these two new provisions.

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All the national events are scheduled for this year in England, Wales and Scotland to promote the Trust and engage with parents and professionals to encourage new student interest in all the schools, colleges and adult provisions.

The student numbers on roll are the highest the Trust have had. Student numbers have increased 10% from the same time last year and a 32% increase from the same time 4 years ago in 2022.

Consolidated Performance

The consolidated financial statements for 2024-25 include the results of the Trust’s subsidiary companies for the full twelve months. Trustees value the consolidated surplus of £3,508,227 made during the year (2024: Surplus of £3,614,544).

Investment Powers, Policy & Performance

Investment powers are governed by the Trust’s Memorandum & Articles of Association and permit its funds to be invested in a wide range of assets.

Financial Management & Reserves Policy

Monthly Management Accounts and Cash Flow Forecasts are scrutinised by the Executive Team before being reported to the Board’s Finance Sub-Committee, and then to the Main Board of Trustees for review.

The group’s Reserves Policy is that unrestricted reserves (i.e. designated reserves plus general reserves) should consistently exceed three months staff related expenditure.

The restricted reserves currently held in the group at year-end are £645,612 (2024: £714,616). Designated reserves are £2,500,000 (2024: £Nil) and general reserves are £15,659,053 (2024: £14,581,822). Total funds held are £18,804,665 (2024: £15,296,438).

Three months of staff related expenditure was approximately £10,785,232 throughout the year, therefore the group has operated in line with Policy.

The group’s free reserves, i.e. general reserves (i.e. not including designated reserves) less fixed assets are £3,918,783 (2024: £5,264,989). The Trustees are satisfied that the group has sufficient free reserves.

The group’s designated funds are funds set aside for specific capital projects that will contribute towards future growth. The group does not require to dispose of fixed assets to achieve any restricted fund purpose. Capital commitments not provided for as a liability in the accounts are disclosed in the notes to the accounts.

Within the charity there are £339,186 (2024: £547,648) restricted reserves. Designated reserves are £1,500,000 (2024: £Nil) and other unrestricted reserves are £8,243,945 (2024: £7,024,208). Total funds held are £10,083,131 (2024: £7,571,856).

The charity’s free reserves, i.e. general reserves (i.e. not including designated reserves) less fixed assets are £481,615 (2024 deficit: £(440,251)). The Trustees are satisfied with the increase in free reserves from last year.

The charity’s designated funds are funds set aside for specific capital projects that will contribute towards future growth. The charity does not require to dispose of fixed assets to achieve any restricted fund purpose and does not have any capital commitments not provided for as a liability in the financial statements.

2.3 Risk and Uncertainties

These are perceived to be the key risks and uncertainties facing the Ruskin Mill Trust group and the mitigations currently in place. This has been drawn from the Risk Register for 2024-25.

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Strategic Risk Specifc Risks to the Trust Comments/ Mitgatons
The Trust loses or
fails to represent its
method		 Failure to provide an interestng
and compettve ofer
Failure to maintain a unique
selling point
Decline in quality of educaton
and care, student experience and
outcomes
Loss of biodynamic land/Demeter
certfcaton
Loss of opportunity for working
with like-minded organisatons		 Ruskin Mill Trust has developed a
comprehensive staf training, development and
research programme that engages staf from
their Inducton to Masters’ and Ph.D. degrees.
The admissions team closely monitor
compettors to ensure that we have
comparable fees and ofers.
The Civil Service and Directors provide robust
quality assurance for the provisions, and a Trust
Head of Biodynamic Land has been appointed
to oversee the quality of the Trust’s land.
Trust policies and procedures are informed by
research and underpin the Trust’s method of
PSTE.
The Trust has good partnerships with a wide
range of like-minded organisatons, who
support the work of the Trust.
Death or harm to an
individual		 Poor quality risk assessments and
support planning
Unsafe work environments
Failure to follow policies and
procedures leading to poor
working practces
Abuse		 Students’ Risk Assessments and Support plans
are all held within Databridge, our
management informaton system.
The Trust employs a health and safety manager
who oversees H&S across all our sites,
supervising a team of H&S leads.
Staf are fully trained in our Trust wide, and
site-specifc policies and procedures.
The likelihood of staf abusing students is very
low. We have robust policies and procedures in
place to protect students from any form of
abuse that could be presented by members of
staf in additon to robust support and
disciplinary processes as required.
Failure to maintain
availability and data
security of trust
informaton systems		 Poor informaton security leading
to a hack
Power and/or communicatons
infrastructure fails (trust wide or
natonally/internatonally). Poor
informaton handling leading to a
data breach
Patching, sofware changes or
sofware updates resultng in
system failure
Failure to adequately maintain or
improve hardware infrastructure		 The standards required by Cyber Essentals
certfcaton means that we must refresh our
equipment on a regular basis, maintaining
equipment that receives functonality and
security updates.
Mult-Factor Authentcaton is also required on
all accounts where it is available.
Break-glass' grab folder to be provided from
central point in provision when systems
unavailable. Generators and uninterruptable
power supplies to be rolled out to mitgate
power outages

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Failure to develop and use
informaton systems to meet
changing Trust needs		 GDPR training is provided, with specifc focus
on email best practce
Pilot groups to be identfed when making
changes to Trust sofware, 'break glass' grab
folder as above
Civil Service connects IT and MIS to operatonal
need.
Unable to recruit and
retain a skilled
workforce		 Inadequate training to meet
students and organisatonal need
Lack of succession planning &
non-compettve salaries
Excessive recruitment costs, and
high staf turnover
Failure to respond to poor
performance
Failure to follow safer
recruitment processes/ risk of
non-compliance
Employment tribunals		 Robust training programme for staf in the
method, including bringing in specialist trainers
when required.
The Trust’s PDR process identfes training and
personal development opportunites to support
internal staf progression.
The Trust has engaged with an external
consultant to review pay and grading across the
Trust, HR teams monitor market data on
salaries and benefts.
The Trust has a specialist team of recruiters to
support the recruitment of staf. This has also
enabled a more robust interview and vetng
process to help with retenton.
The HR team supports line managers to
monitor performance within their teams and
ofer support/ training to address areas of poor
performance quickly.
The HR team ensures that all appropriate
vetng is undertaken before an individual
starts. The Single Central record is checked
regularly and working with the HR team
undertakes regular quality audits process to
ensure compliance.
The Trust engages with an external legal frm to
support employment tribunals.
Failure to maintain or
increase student
numbers and income		 Insufcient admissions structure
to address enquiries
Lack of marketng materials and
strategies
Provisions not responding to
meet changing market need/
student profle		 The admission structure is reviewed annually as
part of the budgetng process to ensure there
are sufcient staf.
The Trust Head of Business Development works
closely with the Trust publishing department to
review and develop marketng materials for all
provisions.
The Trust Head of Business Development
monitors changing government legislaton to
ensureprovisions can adapt to changes.

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Organisatonal
infrastructure does
not have enough
capacity for growth
and development		 Insufcient resourcing and
capacity during period of growth
Inconsistent decision-making
processes, communicaton and
appropriate responses.
Failure to adequately maintain a
business contnuity plan		 ET and Civil Service will identfy needs and
recommend resource requirements.
There are weekly ET meetngs and Civil Service
check ins to ensure good communicaton. Clear
organisatonal structures and cross Trust team
working helps to embed consistency in practce.
The Civil Service has a regular schedule for
reviewing both the Trust Risk Register and
Business ContnuityPlan.
Financial
management		 Government funding changes
reduces income or impacts cash
fow
Inaccurate fnancial informaton
supplied to Executve
Team/Trustees
Poor fnancial controls lead to
non-compliance/ risk of fraud/
overspend
Trust budget is prepared
inaccurately
Failure to monitor spending
including staf costs and capital
spend
Inability to maintain cash fow
due to local authorites not
paying		 The Trust monitors changes in government
legislaton to determine fnancial impact.
Management accounts are presented monthly
to the Executve Team and there are monthly
meetngs with Directors and provision leaders
to review accounts and budget.
The Trust has robust fnancial policies and
systems in place to ensure good fnancial
control.
The Trust budget is prepared by the Chief
Financial Ofcer and approved by the Trustees
following meetngs with all provision leaders
and Directors.
Monthly review of accounts by the Executve
Team and Directors ensures acton can be taken
quickly.
The Trust retains reserves to support cash fow,
and the Chief Financial Ofcer and Directors
monitor which local authorites are not paying
and act accordingly.

2.4 Future Plans

An increasingly important feature of the Trust’s forward planning process is the Annual Strategic Review which brings together Trustees and senior leaders for three days each autumn to debate and analyse the key strategic challenges facing the organisation, and to develop plans for addressing them creatively and effectively in furthering the Trust’s Objects.

At the 2025 Review, Trustees resolved that the group’s strategic Aims & Priorities for 2025-26 were:

Overall Strategic Direction

Focus the Trust’s work and direction of travel through PSTE in these 5 areas:

  1. Garden Schools & Children’s Homes: For children/pupils aged 6-19 in day and residential settings

  2. Further Education Colleges: For students aged 16-25 in day and residential settings

  3. RISE: Post-education day and residential provision for those without an Education, Care & Health Plan (EHCP)

  4. HEaRT: An internal Staff Training & Development Programme (up to and including Masters level)

  5. Outward Facing/International Programmes: An outward facing Adult Education Programme (up to and including Masters level), delivered both overseas and at Ruskin Mill’s Adult Education Centres – Emerson College, Trigonos and the Field Centre

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Specific Objectives for 2025-26

Schools

Colleges

RISE

Training

Charitable objects

Finance

IT & Management Information Systems (MIS)

Human Resources

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Capital Programme

In partnership with Ruskin Mill Land Trust, and under the oversight of its in-house Architect, the group continues to develop and implement a Trust-wide capital programme of key projects to ensure the continued investment in and maintenance of the Ruskin Mill estate

Research

Continue to work closely with Ruskin Mill Centre for Practice (RMCP) & Ruskin Mill Centre for Research (RMCR) to establish protocols that ensure research findings flow back into staff training and inform the Trust’s policies & practice.

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Section 3: Structure, Governance & Management

3.1 Governing Document

The charity Ruskin Mill Trust Ltd is governed by its Articles of Association of 12 May 2010, most recently updated on 24 March 2025.

3.2 Objects

The charity’s objects, as set out in the Articles of Association are for the public benefit to:

3.3 Governing Body

Ruskin Mill Trust was registered with Companies House on 13 May 2010 (Company number 07252866) and with the Charity Commission on 29 July 2010 (Charity number 1137167). The charity is a company limited by guarantee. The Trustees of the charity, whose names are listed on page 3, are also the directors for the purposes of the Companies Act 2006.

3.4 Recruitment and Training of Trustees

The charity’s practice regarding recruitment is for members of the Board to make recommendations for suitably skilled and experienced people who are then appraised and interviewed by the full Board. The names of the current Board and details of any resignations or appointments since the beginning of the year, are set out on page 3 of this report.

Each new trustee receives an induction which includes a description of the Trust and the structure of the group. This is supplemented with trustee training to which all trustees in the group are invited and that includes sessions on the role of a trustee, charity law and good governance practice, together with mandatory trainings such as Safeguarding, H&S, Prevent and Equality & Diversity. In arranging this training with HEaRT, good use is made of the charity law expertise of the Trust’s Head of Legal Services.

3.5 Organisational Management

The Trustees are legally responsible for the overall governance and control of the charity and met six times during the year. While maintaining full overall control of the Trust and accountability for it, the Trustees have continued to delegate day to day leadership and management to an Executive Team in line with Article 55 of the Trust’s Articles of Association.

The membership of this Executive Team is currently Tara Gratton (CEO), Oliver Cheney (Director of Colleges & Rise), Helen Kippax (Senior Executive Mentor) and Constantin Court (Director of PSTE Pedagogy). Shazuli Iqbal (Chief Financial Officer) and Lindsay Wilkinson (Chief People Officer) are Associate Members of the Executive Team. Elisabeth Johnson (Executive Operations Manager) administers meetings of the Executive Team. Aonghus Gordon OBE (Founder) resigned as a member of the Executive Team on 1 September 2025.

The Trust’s comprehensive Pay & Grading Policy together with the results of the annual Personal Development Review, are used as the basis for setting the pay and remuneration of key management personnel. Benchmarking is conducted externally and based on the results of this, action is taken as required.

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3.6 Group Structure and Relationships

Overall, the group, which comprises Ruskin Mill Trust and its subsidiaries, has continued to show itself to be a powerful and effective structure within which aligned organisations can work together in a mutually supportive way to achieve common objectives.

The extent and breadth of the group’s activities throughout the UK can be seen in the Map of Provisions at the end of Section 1. This covers both the Ruskin Mill Trust group and the Ruskin Mill Land Trust group and provides a snapshot of both current provisions and provisions that are in the pipeline.

Ruskin Mill Trust has the following subsidiaries:

Brantwood Specialist School in Sheffield, Catherine Grace Trust near Bristol and Clervaux Garden School near Darlington operate specialist garden schools within a craft and land-based curriculum for pupils with specialist educational needs aged between 7 and 19. The registered office for each of these subsidiaries is Ruskin Mill, Millbottom, Nailsworth, GL6 0LA.

Sunfield Children’s Homes Ltd operates a specialist garden school and children’s home for pupils with specialist educational needs aged between 6 and 19 near Stourbridge. Its registered office is Ruskin Mill, Millbottom, Nailsworth. GL6 0LA. The school uses the unique craft and land-based curriculum to nurture a calming environment where each young person is given the space, time and care to grow.

Transform Residential Ltd is responsible for college residential services in Wales. Its registered office is Ruskin Mill, Millbottom, Nailsworth, GL6 0LA.

Clervaux Trust Ltd near Darlington and Seòl Trust at Fairhill in East Lothian provide education and work experience facilities for adults with learning differences who have completed their formal education, supporting them on the path of becoming more independent and confident, to gain qualifications and contribute to the community. Clervaux Trust Ltd also operates Clervaux Fold, a dedicated family centre working with veterans and the local community. Clervaux Fold has workshop areas for craft and land-based activities, a communal lounge area for socialising and a play park for children to play. The registered office for Clervaux Trust Ltd is Ruskin Mill, Millbottom, Nailsworth. GL6 0LA and for Seòl Trust is Fairhill Rise, Pishwanton Wood, Longyester, Haddington, Scotland, EH41 4FH

Trigonos Trading Ltd operates the Trigonos Retreat & Conference Centre in North Wales. Its registered office is Ruskin Mill, Millbottom, Nailsworth, GL6 0LA.

On 10 October 2024, Ashdown Garden School was established as a subsidiary of Ruskin Mill Trust Ltd with the aim of creating and operating a school on land leased from the Emerson College Trust. Its registered office is Ruskin Mill, Millbottom, Nailsworth, GL6 0LA. It is anticipated that this new school, Ruskin Mill Trust’s fifth, will open in July 2026.

Any profits made by non-charitable subsidiaries are donated via gift-aid to Ruskin Mill Trust Ltd.

Extracts from the subsidiaries’ audited financial statements are included in the notes to the accounts.

3.7 Related Parties and Partnerships

The Trust leases most of the property it occupies from Ruskin Mill Land Trust (or one of its subsidiaries), also from the Responsive Earth Trust and the Living Earth Land Trust. The charity leases its headquarters from Ruskin Mill Ltd. For full details of related parties and their relationship to the Trust, its trustees and senior management, please refer to note 25 to the Financial Statements.

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3.8 Risk Management

The Trustees have assessed the major risks to which the charity is exposed. In particular, those relating to its operations and finances and are satisfied that systems are in place to mitigate exposure to the major risks. See Section 2.3 of this Trustees’ Annual Report for an assessment of the key risks and uncertainties facing the Trust.

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Section 4: Environmental Report

10 Year Environmental Plan

The Trust recognises that good environmental management must be an integral and fundamental part of its group Strategy & Vision. It believes that the protection and enhancement of the environment, and adopting sustainable practices, are an essential part of good educational practice and it is fully committed to reducing the harmful impacts of its operations. It aims to continuously improve its environmental performance through careful management of the estate, and all its operations.

Respect for the relationship between humanity and the environment is inherent in the Trust’s vision and is made manifest through its method (PSTE) and, specifically, through the adoption of Biodynamic land practices. However, the deterioration of the global ecosystem and recognition that more action is needed, has led the Trust to begin development of a 10 Year Environmental Plan. This covers Climate Change, Biodiversity, Land Management & Food Production, Pollution and the Use of Materials. As the Plan is developed, it will review the current position across the whole group and set challenging targets and will also spell out clearly how those targets are going to be met within a realistic timescale. It will also include updates to the Trust’s Environmental Policy.

Streamlined Energy & Carbon Reporting (SECR)

As a concrete step towards reducing its carbon emissions, the Trust has prepared its Streamlined Energy & Carbon Report (SECR) for the whole group. The SECR is intended to encourage the implementation of energy efficiency measures and the adoption of low or zero carbon practices. The methodology used was in accordance with Government guidelines and the results will be used as a benchmark for future reports. The exercise of determining the Trust’s Carbon Intensity Ratio has itself highlighted opportunities to improve and this will form a key component to the 10 Year Environmental Plan.

Annual Reporting Figures

a) Consumption and location-based emissions figures

The following tables show the consumption and associated emissions for financial years ending August 2025 and August 2024 for all operations. 2024-25 is the fifth year that Ruskin Mill Trust Ltd and its subsidiaries have reported this information.

Scope 1 consumption and emissions include direct combustion of natural gas and other fuels, including fuels utilised for transportation operations, for example, company vehicle fleets.

Scope 2 consumption and emissions cover indirect emissions cover indirect emissions related to the consumption of purchased electricity and heat in day-to-day business operations.

Scope 3 consumption and emissions cover emissions cover emissions resulting from sources not directly owned by the Ruskin Mill Trust Ltd group, i.e. grey fleet business travel undertaken in employee-owned vehicles only.

Location-based emissions: Methodology to calculate Scope 1 and 2 emissions using the average grid emissions factor of a region.

tCO2e: Greenhouse gases have different global warming potentials and are converted to a carbon dioxide equivalent to ease comparison and reporting.

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Total UK energy consumption (kWh) figures for Ruskin Mill Trust Ltd and its subsidiaries are as follows:

Utility and Scope 2024-25 Consumption
(kWh)		 2023-24 Consumption
(kWh)
Scope 1 Total 6,789,958 6,389,963
Natural gas and other fuels (Scope 1) 6,013,560 5,673,933
Transportation (Scope 1) 776,398 716,030
Scope 2 Total 2,614,705 2,746,573
Grid supplied electricity (Scope 2) 2,336,915 2,460,423
Heat, steam & cooling (Scope 2) 277,790 286,150
Scope 3 Total 737,818 747,666
Transportation (Scope 3) 737,818 747,666
Total 10,142,481 9,884,202

Total UK location-based emissions (tCO2e) figures for Ruskin Mill Trust Ltd and its subsidiaries are as follows:

Utility and Scope 2024-25 UK Consumption
(tCO2e)		 2023-24 UK Consumption
(tCO2e)
Scope 1 Total 1,343.72 1,242.82
Natural gas and other fuels (Scope 1) 1,160.52 1,075.55
Transportation (Scope 1) 183.20 167.27
Scope 2 Total 462.32 560.84
Grid-Supplied Electricity (Scope 2) 413.63 509.43
Heat, steam & cooling (Scope 2) 48.69 51.41
Scope 3 Total 164.21 166.64
Transportation (Scope 3) 164.21 166.64
Total 1,970.25 1,970.30

Total UK location-based emissions intensity metrics figures for Ruskin Mill Trust Ltd and its subsidiaries are as follows:

Intensity Metric 2024-25 2023-24
Turnover (£m) 74.42 65.50
All scopes tCO2e per turnover (£m) 26.47 30.09
Percentage change (11.99%)
Staff FTE 1,070 967
All scopes tCO2e per Staff FTE 1.84 2.04
Percentage change (9.63%)
Property area 39,185.29 38,975.65
All scopes tCO2e per Area (m²) 0.05 0.05
Percentage change (0.54%)

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b) Year on year changes

Natural Gas and Other Fuels (Scope 1) emissions increased by 7.90% in FY2025 compared to FY2024, primarily due to higher levels of building utilisation and the expansion of the Trust’s property portfolio. Increased gas consumption was particularly evident at Mia Cottage, 2 Upper Grange, and 7 Wollaston Road, reflecting greater occupancy and operational use of these buildings.

Electricity and Purchased Heat (Scope 2) location-based emissions decreased by 17.56% in FY2025 compared to FY2024. This reduction reflects lower grid-electricity emission factors for 2025. Energy efficiency measures had further impact on reducing electricity emissions.

Transport (Scope 1 and 3) emissions increased by 4.04% in FY2025 compared to FY2024, primarily due to increased operational activity. While grey fleet emissions reduced over the year, company car emissions increased. This increase is linked to higher student numbers, which in turn have driven additional trips, expanded use of properties, and a greater overall demand for transport services.

Carbon intensity decreased by 11.99% in FY2025 compared to FY2024, primarily due to a decrease in electricity emissions.

c) Energy Efficiency Improvements

Ruskin Mill is committed to year-on-year improvements in its operational energy efficiency. A register of energy efficiency measures has been compiled, with a view to implementing these measures in the next five years.

Measures undertaken in 2024-25

• Green Energy Purchasing

Ruskin Mill has continued to procure electricity through green energy tariffs where possible. Maintaining these tariffs demonstrates the Trust’s ongoing commitment to environmental responsibility.

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• Electric Vehicle Charging Infrastructure

Sunfield School has installed two 7kW electric vehicle (EV) charging points for use by staff and visitors. This infrastructure supports the transition to low-emission transport by encouraging the uptake of EVs.

• Gas Boiler Upgrades & Replacement

Gas boiler upgrades were completed at Sunfield Upper School and at one of Ruskin Mill’s residential properties. Boilers at Glasshouse College were fully replaced as well which improved efficiency by 10%.

• Energy Manager Recruitment

Ruskin Mill has recruited a dedicated Energy Manager to lead and coordinate energy reduction initiatives across the organisation.

• Glasshouse College – LED Lighting Installation

Ruskin Mill has continued the rollout of LED lighting at Glasshouse College, replacing older and less efficient systems.

• Sunfield School - Window Improvements

Single-glazed windows at Sunfield School have been replaced with UPVC double-glazed units. This upgrade will significantly enhance thermal insulation and heat retention, reducing the demand for heating.

Measures to be addressed in 2025-26

• Sunfield Main School Boiler Replacements

In FY2026, Ruskin Mill plans a major project to upgrade the heating boilers at Sunfield Main School, including a transition away from oil as a heating fuel.

• Trust-wide LED Lighting Replacements

Ruskin Mill will continue to roll out LED lighting across the estate. The Trust has identified several opportunities, including further installations at Sunfield School.

• Sunfield School – Building Improvements

Further window upgrades will be undertaken at Sunfield School to replace old single-glazed windows. Additionally, other fabric efficiency measures have been identified, such as upgrading loft insulation where feasible.

• Review of Heating Controls

A comprehensive review of heating controls across multiple Trust properties is planned for FY2026. This review will focus on improving zoning, time schedules and temperature set points to better reflect building usage and occupancy patterns.

d) Reporting Methodology

The SECR report (including the Scope 1, 2 and 3 kWh consumption and CO2e emissions data) has been developed – and calculated using the GHG Protocol A Corporate Accounting and Reporting Standard (World Resources Institute – and World Business Council for Sustainable Development, 2004); Greenhouse Gas Protocol Scope 2 Guidance (World Resources Institute, 2015); ISO 14064-1 and ISO 14064-2 (ISO, 2018; ISO, 2019); Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting Guidance (HM Government, 2019).

Government Emissions Factor Database 2025 version 1.0 has been used, utilising the published kWh gross Calorific Value (CV) and kgCO2e emissions factors relevant for the reporting period 1 September 2024 to 31 August 2025.

Estimates were undertaken to cover missing billing periods for properties directly invoiced to Ruskin Mill Trust Ltd. These were calculated using relevant CIBSE energy benchmarks (kWh/m²/year) and the site’s floor area.

All estimations in 2024-25 equated to 2.86% of reported consumption. This is an improvement from the 2023-24 estimation level of 7.62%.

Ruskin Mill Trust Ltd chose not to include self-generated energy within SECR calculations as the energy generated was minor throughout the year ended 31 August 2025.

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Market-based emissions were calculated using supplier-specific fuel mix factors and Renewable Energy Guarantee of Origin (REGO) certificates. Residual fuel mix factors were used where the supplier was unknown. The marketbased emissions are reported in tCO2 only, and the supplier-specific emission factors used are as follows:

British Gas 0.000081 tCO2/kWh, Yu Energy 0.0004811 tCO2/kWh, Eon Next 0.000331 tCO2/kWh, Positive Energy 0 tCO2/kWh, SSE 0.000374 tCO2/kWh, Octopus 0 tCO2/kWh, OVO 0.000474 tCO2/kWh, Scottish Power 0.000468 tCO2/kWh, Ecotricity 0 tCO2/kWh, EDF 0.000233 tCO2/kWh, Good Energy 0 tCO2/kWh, Rebel Energy 0.000432 tCO2/kWh, Smartest Energy 0 tCO2/kWh.

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Section 5: Section 172 Statement

The long-term consequences of decisions

The Vision, Values, Purpose & Method of the Trust are set out in its Strategic Plan. Each year Ruskin Mill Trust’s Board of Trustees holds a Strategic Review with senior leaders at which Strategic Aims & Priorities are reviewed, and the Strategic Plan is updated and rolled forward. Integral to this process is an assessment by Trustees and senior leaders of the short, medium and long-term consequences of those decisions. The origins of the Trust date back almost 40 years and its steady growth during that period, up to its present position as a leading provider of specialist education and care services, is a testament to the quality of its decision-making and foresight, particularly at critical points in its history.

The interests of the group’s employees

Trustees fully appreciate the work of the Trust’s staff, and this appreciation is guided by values that are embodied in the Strategic Plan, namely:

This is backed up with access to a comprehensive staff training & development programme, including access to Higher Education, opportunities for promotion and transfer within a group of organisations that now employ approximately 1,400 staff, a well-developed Pay & Grading Scheme with structured, annual Personal Development Reviews and, more recently, free access to a well-established Health Plan.

The need to foster the group’s business relationships with suppliers, customers and others

The Trust recognises the value in fostering relationships with all its stakeholders; it leads to loyalty, mutual respect, trust and openness which are central to its Vision & Values as a charitable organisation with high principles. Feedback from local authority customers is positive, evidenced by the growing number of students and pupils who attend Trust provisions, and at each of its Centres local staff have worked hard to develop good, long-term relationships with local suppliers which are based on fair payment arrangements and mutual respect.

The impact of the group’s operations on the community and the environment

The Trust has a fine track record of positive community engagement and making its facilities available to the local community and public at large. This is part of the design thinking whenever a new Centre is developed and includes, subject to Trust safeguarding policies and practices, access to permissive rights of way, cafes (using organic and biodynamic ingredients, including food grown on Trust land), retail outlets, theatres and other performing spaces that are used by local societies and the local community for a variety of purposes, and festivals such as the biennial International Festival of Glass that was held at the Glasshouse for 20 years.

The Trust also has a fine track record of making a positive impact on the environment within which it operates. Its approach over almost years has been to acquire, refurbish and re-purpose sites that have fallen into decay and disrepair. Many of these sites contained iconic industrial or agricultural buildings with a rich heritage, which the Trust has restored sensitively and to high environmental standards and which now form the basis of the local curriculum for students and pupils. Hand in hand with the sensitive refurbishment of buildings, land is converted to biodynamic standards as it is acquired. However, despite these positive steps, the Trust acknowledges that it has more to do and fully embraces the need for the 10 Year Environmental Plan that it is committed to producing.

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Maintaining a reputation for high standards of business conduct

The Trust’s Vision & Values enshrine the importance of high standards in its external relationships, and these encompass maintaining high standards in the way that the whole group conducts its business. As a result, and because it is also ‘Not-for-Profit’, the Trust has developed an enviable reputation which is supported by the use of rigorous vetting of new staff and the ethical ethos that underpins its operations. The Trust has also fostered, with the assistance of its Auditors, a culture that rejects any form of fraudulent practice, bribery or corruption. Almost 40 years of successful operation, fifteen in its current legal form, reflects well on the Trust’s standards of business conduct.

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Section 6: Financial Review

6.1 Financial review and trading results for the 12 months to 31 August 2025

Trustees value the consolidated surplus of £3,508,227 made during the year ( 2024: £3,614,544

Fundraising at Ruskin Mill Trust is managed by its own Fundraising Department which is led by the Director of Fundraising who supervises a small in-house team. No use is made of any external, professional fundraiser or any commercial participator, so no fundraising activities were carried out on their behalf during the year nor were any approaches made to vulnerable individuals in pursuit of the raising of funds for the charity or any of its charitable subsidiaries.

Ruskin Mill Trust has signed up to the Fundraising Regulator’s Code of Fundraising Practice, and it pays an annual levy to the Regulator. During the year there was no failure to comply with a scheme or standard cited nor were any complaints received about the fundraising activities conducted by the Trust. Money raised through fundraising activities is used by the Trust as agreed with the donor and complies with any conditions attached by the donor.

• Subsidiaries

The Trust’s subsidiaries generated £28,892,902 (2024: £25,997,089) in fees from educational, care and health income, a 11.1% rise compared to the previous year (excluding intercompany transactions).

Ashdown Garden School is planning to receive its first students in July 2026.

Brantwood Specialist School received a total income of £5,105,396, a (1)% fall compared to the previous year.

Catherine Grace Trust received a total income of £4,215,952, a 24% rise compared to the previous year.

Clervaux Garden School received a total income of £2,138,922, a 10% rise compared to the previous year. This includes £6,969 (2024: £Nil) of inter-company donations.

Sunfield Children’s Homes Ltd received a total income of £14,769,627, a 14% rise compared to the previous year.

Clervaux Trust Ltd received a total income of £830,831 a (24)% fall compared to the previous year. This includes £214,100 (2024: £Nil) of intercompany donations.

Seòl Trust received income excluding internal donations of £252,448, a 35% rise compared to the previous year.

Transform Residential Ltd received a total income of £2,631,024, a 71% rise compared to the previous year.

Trigonos Trading Ltd received a total income of £492,169, a rise of 52% compared to the previous year.

Any profits from the trading activities of non-charitable subsidiaries are donated to the charity to be used in the furtherance of its Objects.

Throughout the year there was continued uncertainty about how local authority funding might affect the Trust’s services, and tight control over expenditure has had to be maintained. Significant measures were also undertaken across the Trust to reduce current and projected costs.

• Capital Expenditure and Borrowings

Capital expenditure by the charity and its subsidiaries for the year was £4,070,038 (2024: £2,085,246). There were £Nil new borrowings in the year (2024: £Nil).

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6.2 Statement of Trustees’ responsibilities

The Trustees (who are also directors of Ruskin Mill Trust Ltd for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with 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).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

6.3 Qualifying third party indemnity provisions

Trustees’ indemnity insurance, indemnifying each director against liability to third parties, has been in place throughout the year ended 31 August 2025 and up to the date of approval of this report.

6.4 Provision of Information to Auditor

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

6.5 Auditor

The auditor, RSM UK Audit LLP, was appointed during the year and will be proposed for reappointment at the annual general meeting.

Approved by the Trustees on 27 April 2026 and signed on their behalf by:

....................................................................... A C H Gordon OBE, Hon DUniv, MEd: Executive Chair and Trustee

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF RUSKIN MILL TRUST

Opinion

We have audited the financial statements of Ruskin Mill Trust (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 August 2025 which comprise the Group Statement of Financial Activities, the Group and Company Balance Sheets, the Group Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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’ 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’s or 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 Report of the Trustees other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Report of the Trustees. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report or the Strategic Report included within the Trustees’ Report.

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

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ responsibilities set out on page 33, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’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 trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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.

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

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the

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financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Companies Act 2006, the Charities Act 2011, the parent charitable company’s governing document and tax compliance regulations. We performed audit procedures to detect noncompliances which may have a material impact on the financial statements which included reviewing financial statement disclosures, inspecting correspondence with local tax authorities and evaluating any advice received from internal/external tax advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to the Education Inspection Framework under the Education and Inspections Act 2006, Keeping Children Safe in Education under the Education Act 2002, the Care Act 2014, Care Quality Commission regulations, the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018. We performed audit procedures to inquire of management and those charged with governance whether the charitable company is in compliance with these law and regulations and inspected correspondence with regulatory authorities

The group audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates and tests of detail in respect of income.

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

Use of our report

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

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Anna Spencer-Gray

ANNA SPENCER-GRAY (Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartered Accountants 10[th ] Floor 103 Colmore Row Birmingham B3 3AG 05/05/26

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Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Group Statement of Financial Activities (Net Income and Expenditure Account) For the year ended 31 August 2025

Notes
Income
Grants and donations
2,3
Charitable activities
4
Other trading activities
Investment income
5
Total Income
Expenditure
Charitable activities
Governance costs
Other trading expenditure
Total Expenditure
7
Net income / (expenditure)
before gain on investments
Gain on investments
Net income / (expenditure)
6
Net loss on disposal of fixed
assets
Net income and net movement
in funds
Reconciliation of funds
Total funds brought forward
19,20
Total Funds Carried Forward
19,20		 Unrestricted
Funds
Restricted
Funds
Total Funds
2025
Total Funds
2024
£
£
£
£
237,846
560,989
798,835
368,621
65,206,014
-
65,206,014
57,974,557
8,283,318
-
8,283,318
7,025,178
134,243
-
134,243
100,187
73,861,421
560,989
74,422,410
65,468,543
(61,812,502)
(293,088)
(62,105,590)
(55,541,011)
(399,253)
-
(399,253)
(426,694)
(8,030,224)
(336,905)
(8,367,129)
(5,938,114)
(70,241,979)
(629,993)
(70,871,972)
(61,905,819)
3,619,442
(69,004)
3,550,438
3,562,724
33,723
-
33,723
53,912
3,653,165
(69,004)
3,584,161
3,616,636
(75,934)
-
(75,934)
(2,092)
3,577,231
(69,004)
3,508,227
3,614,544
14,581,822
714,616
15,296,438
11,681,894
18,159,053
645,612
18,804,665
15,296,438

All amounts relate to continuing operations.

The notes on pages 42 to 80 form part of these financial statements.

38

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Registered Number: 07252866

Group Balance Sheet 31 August 2025

Notes
Fixed assets
Intangible assets
11
Tangible assets
12
Investments
13
Current assets
Stock
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts due after more than one year
16
Net assets
Funds
Restricted funds
19
Designated funds
20
Other unrestricted funds
20
Unrestricted funds		 2025
2024
£
£
74,948
87,440
11,065,784
8,641,325
599,538
588,068
11,740,270
9,316,833
18,643
16,210
8,500,657
5,556,677
6,758,156
7,636,273
15,277,456
13,209,160
(8,160,061)
(6,830,555)
7,117,395
6,378,605
18,857,665
15,695,438
(53,000)
(399,000)
18,804,665
15,296,438
645,612
714,616
2,500,000
-
15,659,053
14,581,822
18,159,053
14,581,822
18,804,665
15,296,438

The parent charity’s net surplus for the year was £2,511,276 (2024: £2,411,842).

The financial statements were authorised and approved for issue by the Trustees on 27 April 2026 and signed on their behalf by

……………………………………..

A C H Gordon OBE Executive Chair and Trustee

The notes on pages 42 to 80 form part of these financial statements.

39

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Registered Number: 07252866

Charity Balance Sheet 31 August 2025

Notes
Fixed assets
Tangible assets
12
Investments
13
Current assets
Stock
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net current assets
Total assets less current liabilities
Net assets
Funds
Restricted funds
19
Designated funds
20
Other unrestricted funds
20
Unrestricted funds		 2025
2024
£
£
5,696,497
5,398,626
2,065,833
2,065,833
7,762,330
7,464,459
18,643
16,210
7,900,162
4,973,809
879,334
966,581
8,798,139
5,956,600
(6,477,338)
(5,849,203)
2,320,801
107,397
10,083,131
7,571,856
10,083,131
7,571,856
339,186
547,648
1,500,000
-
8,243,945
7,024,208
9,743,945
7,024,208
10,083,131
7,571,856

The financial statements have been prepared in accordance with the Companies Act 2006.

The financial statements were authorised and approved for issue by the Trustees on 27 April 2026 and signed on their behalf by

……………………………………..

A C H Gordon OBE Executive Chair and Trustee

The notes on pages 42 to 80 form part of these financial statements.

40

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Group Cash Flow Statement For the year ended 31 August 2025

Notes 2025 2024
£ £
Cash flows from operating activities
Net cash provided by operating activities 22 2,838,013 5,964,437
Cash flow from investing activities
Investment income 134,243 100,187
Purchase of tangible fixed assets (4,070,038) (2,085,246)
Proceeds on disposal of tangible assets 53,771 32,731
Disposal of subsidiary (donation) 639,063 -
Adjustment to tangible fixed assets - 101,560
Payments to acquire fixed asset investments (70,410) (94,206)
Proceeds from sale of fixed asset investments 92,663 29,559
Net cash used in investing activities (3,220,708) (1,915,415)
Cash flow from financing activities
Interest paid (276,634) (291,781)
Repayment of bank loan (246,000) -
Net cash used in financing activities (522,634) (291,781)
Change in cash and cash equivalents in reporting period (905,329) 3,757,241
Cash and cash equivalents at the beginning of the reporting period 7,636,273 3,879,032
Cash and cash equivalents at the end of the reporting period 23 6,730,944 7,636,273
Cash and cash equivalents includes cash at bank and in hand and overdrawn bank balances:
Cash at bank and in hand 6,758,156 7,636,273
Bank overdraft (27,212) -
Total cash and cash equivalents 6,730,944 7,636,273

The notes on pages 42 to 80 form part of these financial statements.

41

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

Statutory information

Ruskin Mill Trust Ltd is incorporated in England and Wales as a company limited by guarantee (registered no. 07252866) and has no share capital.

Ruskin Mill Trust Ltd is also registered as a charity with the Charity Commission (registered no. 1137167).

The registered and principal office of Ruskin Mill Trust Ltd is Ruskin Mill, Old Bristol Road, Nailsworth, Stroud, Gloucestershire, GL6 0LA.

1. Accounting policies

1.1

Basis of accounting

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

Ruskin Mill Trust Ltd meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are presented in sterling (£) which is the functional currency of the charity. Amounts are rounded to the nearest £1.

For the year ended 31 August 2025 the group financial statements consolidated the financial statements of the charity and its subsidiaries. All inter-group transactions have been fully eliminated on consolidation for the year ended 31 August 2025 and the prior year.

The parent charity has taken advantage of the exemptions available to a qualifying entity in FRS 102 from the requirement to present a Company only Statement of Cash Flows and certain disclosures about the charity’s financial instruments within the Consolidated Financial Statements. The charity has also taken the exemption from presenting an unconsolidated Statement of Financial Activities as permitted under Section 408 of the Companies Act 2006 and paragraph 397 of the SORP. The unconsolidated surplus of the charity for the year is disclosed below the group balance sheet.

42

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

1. Accounting policies (continued)

1.2 Going concern

Ruskin Mill Trust Ltd manages its working capital requirement through bank balances and borrowings.

The Trust ensures that robust budgets are set, and the actual spend against these budgets is analysed monthly by both the Executive Team and the Board of Trustees’ Finance Sub-Committee. The full Board also receives these monthly management accounts and reviews them on a two-monthly cycle. The Trust is currently negotiating fee increases with local authorities to mitigate the impact of inflation on the Trust’s expenditure.

The forecast figures for 2025-26 show positive cash flow estimated at £6.2m.

After making detailed enquiries and considering the factors discussed above, the Trustees consider that there is no material uncertainty about the Trust’s ability to continue as a going concern, and therefore it is appropriate to prepare the financial statements on a going concern basis.

1.4

Income

Donations are credited to revenue when the charitable company has entitlement to the funds, any performance conditions attached to the revenue have been met, it is probable that the income will be received, and the amount can be measured reliably.

College, school and RISE fees receivable and charges for services, are accounted for in the year in which the service is provided.

Other income from charitable and other trading activities is accounted for in the period in which the income is earned.

Any profits from the trading activities of its non-charitable subsidiaries are gift aided to the charity to be used in the furtherance of its objects. The charity records gift aid donations to distributable profits in the year in which received. The associated profits earned by its non-charitable subsidiaries relate to the preceding financial year.

Grant income, including government grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable. The capital grants received by the Trust are not permanent endowments.

Income from investments is included in the year in which it is receivable.

1.5

Expenditure

All expenditure is 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 headings, they have been allocated to activities on a basis consistent with the use of resources.

Charitable activity expenses are allocated to functional headings on a direct cost basis or apportioned according to staff time or space occupied.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

Governance costs include the cost of raising funds and financing costs.

43

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

1. Accounting policies (continued)

1.6 Operating leases

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

1.7 Termination payments

Termination payments are accounted for as soon as the charitable company is aware of the obligation to make the payment.

1.8 Pensions

Teachers at one of the subsidiary companies are eligible for membership of the Teachers’ Pension Scheme, which is a defined benefit scheme. It is a multi-employer scheme and the charity’s share of any deficit cannot be identified. Therefore, it is accounted for as a defined contribution scheme in accordance with the provisions of FRS 102.

All other staff are eligible to join the charitable company’s defined contribution scheme. Amounts paid in relation to this scheme are charged to the Statement of Financial Activities when they fall due. All pension costs are allocated to unrestricted funds.

1.9 Intangible fixed assets and amortisation

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. Goodwill is amortised over the estimated economic useful life of 20 years. No amortisation is charged in the year of acquisition.

1.10 Tangible fixed assets and depreciation

Assets with a cost below £1,000 are not capitalised.

Depreciation is charged to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property 2%
Leasehold improvements Over the term of the lease
Fixtures, fittings and equipment 10% - 33%
Motor vehicles 25%

Depreciation is not charged on assets under construction.

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of a significant change since the last reporting date.

1.11 Investments

Listed investments are stated at market value at the balance sheet date. The charity balance sheet also includes investments in subsidiary companies. These investments are accounted for at cost less any impairment at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposal throughout the year. The Trust’s investment objective is to seek to maximise total return within its chosen investment criteria by a combination of income and capital growth and within an acceptable level of risk.

44

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements For the year ended 31 August 2025

1. Accounting policies (continued)

1.12 Stock

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

1.13 Debtors

Short term debtors are initially measured at transaction price, less any impairments. Prepayments are measured at the amount prepaid.

1.14 Cash and cash equivalents

Cash includes cash in hand, bank deposits and other short-term deposits.

Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to known amounts of cash with insignificant risk of change in value.

Cash and cash equivalents are stated net of any bank overdraft.

1.15 Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably. Creditors and provisions are recognised at their settlement amount after allowing for any trade discounts due.

1.16 Restricted funds

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

1.17 Unrestricted funds

The unrestricted funds comprise the accumulated surplus. As such, the Trustees consider these funds to be within the definitions contained in the Charities Act in that they can be used in accordance with the charitable objectives at the discretion of the Trustees

1.18 Financial Instruments

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. The listed investments are initially recognised at their transaction cost and are subsequently measured at their fair value (market value) as at the balance sheet date. Debtors and creditors held by the group are initially recognised at transaction value and subsequently measured at their settlement value.

1.19 Taxation

As a registered charity Ruskin Mill Trust Ltd is entitled to taxation exemptions on all its income and gains, properly applied for its charitable purposes.

45

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

1. Accounting policies (continued)

1.20 Significant estimates and judgements

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

Useful economic lives of intangible and tangible assets

The annual depreciation charges for the intangible and tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation and the physical condition of the assets.

Impairment of debtors

The group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of fee and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

46

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

2. Grants and donations

Grants & donations received:
Restricted (Note 3)
Unrestricted
Grants & donations received - restricted
Received by Ruskin Mill Trust Ltd Restricted Funds:
Wool Barn Build
Steiner Research
Arts Council
Glass Gallery
Music Curriculum
Parkwood Lake Development
Received by Subsidiary Companies:
Ashdown Garden School
Clervaux Trust
Brantwood Specialist School
Clervaux Garden School
Clervaux Trust Ltd
Catherine Grace Trust
Seòl Trust
SunfieldChildren’s Homes Ltd		 2025
2024
£
£
560,989
124,995
237,846
243,626
798,835
368,621
2025
2024
£
£
-
2,000
40,000
40,000
17,100
-
-
11,000
-
10,500
-
5,000
10,000
-
500
-
-
500
321
-
43,093
25,308
-
7,400
-
3,000
449,975
20,287
560,989
124,995

3. Grants & donations received - restricted

47

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

4. Income from charitable activities

College fees
Respite care fees
Subsidiary charitable income
Other charitable income
5.
Investment income
Bank interest and dividends received
6.
Net income / (expenditure)
Net income / (expenditure) is stated after charging:
Amortisation–intangible fixed assets
Depreciation–owned tangible fixed assets
Operating lease expense
Auditor’s remuneration:
- audit services for the parent company
- audit services for subsidiary companies
- other services		 2025
2024
£
£
38,460,725
33,270,330
4,797,225
4,665,355
21,156,482
19,324,749
791,582
714,123
65,206,014
57,974,557
2025
2024
£
£
134,243
100,187
2025
2024
£
£
12,492
12,492
787,873
631,498
4,529,034
3,657,185
31,300
30,500
67,200
60,700
3,290
1,100

48

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

7. Expenditure

Year ended 31 August 2025
Charitable activities
Ruskin Mill Trust Ltd:
Teaching and educational
costs
Premises costs
Support costs and
administration
Charitable expenditure
within subsidiaries
Total expenditure on
charitable activities
Governance costs:
Fundraising costs
Financing costs
Total governance costs
Other trading expenditure
Non-charitable expenditure
within subsidiaries
Total expenditure		 Staff
Costs
(note 9)
Depreciation
(note 12)
Other
Costs
2025
2024
£
£
£
£
£
21,043,513
-
6,363,093
27,406,606
23,961,518
-
293,882
6,213,670
6,507,552
5,417,808
5,139,641
255,031
6,064,009
11,458,681
9,868,662
26,183,154
548,913
18,640,772
45,372,839
39,247,988
12,218,247
188,450
4,326,054
16,732,751
16,293,023
38,401,401
737,363
22,966,826
62,105,590
55,541,011
132,752
-
7,008
139,760
163,973
-
-
259,493
259,493
262,721
132,752
-
266,501
399,253
426,694
4,606,775
50,510
3,709,844
8,367,129
5,938,114
43,140,928
787,873
26,943,171
70,871,972
61,905,819

Charitable activities are the provision of education, health, care and well-being services.

49

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

7. Expenditure (continued)

Year ended 31 August 2024
Charitable activities
Ruskin Mill Trust Ltd:
Teaching and educational
costs
Premises costs
Support costs and
administration
Charitable expenditure
within subsidiaries
Total Expenditure on
Charitable Activities
Governance costs:
Fundraising costs
Financing costs
Total governance costs
Other trading expenditure
Non-charitable expenditure
within subsidiaries
Total expenditure		 Staff
Costs
(note 9)
Depreciation
Other
Costs
2024
£
£
£
£
17,885,142
-
6,076,376
23,961,518
-
278,007
5,139,801
5,417,808
4,241,825
169,893
5,456,944
9,868,662
22,126,967
447,900
16,673,121
39,247,988
10,636,052
140,706
5,516,265
16,293,023
32,763,019
588,606
22,189,386
55,541,011
158,639
-
5,334
163,973
-
-
262,721
262,721
158,639
-
268,055
426,694
4,170,665
42,892
1,724,557
5,938,114
37,092,323
631,498
24,181,998
61,905,819

Charitable activities are the provision of education, health, care and well-being services.

50

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

8. Income from trading activities of subsidiaries

Ruskin Mill Trust Ltd owns the whole of the share capital of two of its subsidiaries, Sunfield Children’s Homes Ltd and Transform Residential Ltd.

Ruskin Mill Trust Ltd is also the sole member of Brantwood Specialist School, Catherine Grace Trust, Clervaux Garden School, Clervaux Trust Ltd, Seòl Trust and Trigonos Trading Ltd.

Ashdown Garden School was incorporated on 11 October 2024, and Ruskin Mill Trust Ltd is the sole member of Ashdown Garden School.

Helios Trust was a wholly owned subsidiary of Catherine Grace Trust. On 29 August 2025, Catherine Grace Trust donated Helios Trust, to a related party, Ruskin Mill Land Trust Ltd, acting as sole corporate trustee of Ruskin Mill Land Trust (charity registration number 1059302). Trading activities of Helios Trust are not included in this note, as not material.

a) Sunfield Children’s Home Ltd – a private limited company with share capital, company number 00413810 and charity number 527552. Sunfield provides education and care for young people with severe and complex learning needs including those with autistic spectrum disorder.

Its trading results for the year to 31 August 2025 as extracted from the audited financial statements are summarised below:

Income
Expenditure
Investment gain
Gain on disposal of tangible fixed assets
Net Income
Total assets
Total liabilities
Total Funds		 2025
£
2024
£
14,769,627
12,947,988
(13,318,188)
(12,832,686)
29,480
51,533
2,000
-
1,482,919
166,835
8,560,070
6,761,404
(1,202,993)
(887,246)
7,357,077
5,874,158

Transactions with the parent undertaking, eliminated on consolidation include a donation of £1,950,000 (2024: £2,255,000) made to Ruskin Mill Trust Ltd.

51

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

8. Income from trading activities of subsidiaries (continued)

b) T ransform Residential Ltd – a private limited company with share capital, company number 07275053. Transform Residential Ltd provides residential placements in Wales.

Its trading results for the year to 31 August 2025, as extracted from the audited financial statements, are summarised below:

Turnover
Cost of sales
Gross Profit
Administrative expenses
(Loss) / profit before tax
(Loss) / profit for the year
Total assets
Total liabilities
Capital and reserves		 2025
2024
£
£
2,631,024
1,541,064
(113,310)
(75,248)
2,517,714
1,465,816
(2,574,262)
(1,429,284)
(56,548)
36,532
(56,548)
36,532
885,510
901,133
(78,584)
(37,659)
806,926
863,474

Transform Residential Ltd provides residential and respite care on behalf of Ruskin Mill Trust Ltd. All the company's turnover is with Ruskin Mill Trust Ltd. A donation of £838,267 (2024: £Nil) was made to Ruskin Mill Trust Ltd during the year.

52

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

8. Income from trading activities of subsidiaries (continued)

c) Brantwood Specialist School - a company limited by guarantee, company number 07481656, operates Brantwood Garden School which provides education to young people with emotional and behavioural difficulties and special learning needs.

Its trading results for the year to 31 August 2025 as extracted from the audited financial statements are summarised below:

Total assets
Total liabilities
Capital and reserves
Turnover
Cost of sales
Gross Profit
Administrative expenses
Other operating income
Net gain on disposal of fixed assets
Profit before tax
Profit for the year		 2025
2024
£
£
5,105,396
5,131,776
(279,215)
(253,613)
4,826,181
4,878,163
(4,468,087)
(4,578,284)
54,778
16,552
6,845
3,000
419,717
319,431
419,717
319,431
1,423,760
1,230,573
(467,746)
(339,810)
956,014
890,763

Transactions with the parent undertaking, eliminated on consolidation include a donation of £1,054,466 (2024: £900,000) made to Ruskin Mill Trust Ltd. In addition, a donation, treated as a movement on reserves, was also made to Ruskin Mill Trust Ltd of £354,466 (2024: £219,228).

53

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

8. Income from trading activities of subsidiaries (continued)

d) Catherine Grace Trust – a company limited by guarantee, company number 00462901 and charity number 311740. Catherine Grace Trust operates Grace Garden School which provides education to young people with emotional and behavioural difficulties and special learning needs.

Its trading results for the year to 31 August 2025 as extracted from the audited financial statements are summarised below:

Income (including investment gains / (losses)
Expenditure
Investment gain
Net (Expenditure) / Income
Total assets
Total liabilities
Total Funds		 2025
2024
£
£
4,215,952
3,392,537
(4,323,719)
(3,239,237)
4,244
2,379
(103,523)
155,679
2,147,127
2,752,226
(395,267)
(896,843)
1,751,860
1,855,383

A donation of £200,000 (2024: £400,000) was made to Ruskin Mill Trust Ltd and a donation of £4,000 (2024: £Nil) was made to Clervaux Trust Ltd. Both were eliminated on consolidation.

e) Clervaux Garden School – a company limited by guarantee, company number 11740783 and charity number 1190556. Clervaux Garden School provides education to young people with emotional and behavioural difficulties and special learning needs.

Its trading results for the year to 31 August 2025 as extracted from the audited financial statements are summarised below:

Income
Expenditure
Gain/(loss) on disposal of tangible fixed assets
Net (Expenditure)/Income
Total assets
Total liabilities
Total Funds		 2025
2024
£
£
2,138,922
1,942,502
(2,221,565)
(1,509,612)
622
(4,039)
(82,021)
428,851
722,079
776,864
(141,578)
(114,342)
580,501
662,522

A donation of £287,701 (2024: £100,000) was made to Ruskin Mill Trust Ltd and a donation of £191,100 (2024: £Nil) was made to Clervaux Trust Ltd. Donations were received from Clervaux Trust Ltd of £2,301 and from Ruskin Mill Trust Ltd of £4,668 (2024: £Nil). All were eliminated on consolidation.

54

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

8. Income from trading activities of subsidiaries (continued)

f) Clervaux Trust Ltd – a company limited by guarantee, company number 04295400 and charity number 1143033. Clervaux Trust Ltd operates Clervaux Rise and Clervaux Fold. Clervaux Rise delivers education and work experience for adults with special needs, both day and residential. Clervaux Fold is a dedicated family centre working with army families attached to the nearby Catterick Garrison, as well as local non-military families.

Its trading results for the year to 31 August 2025 as extracted from the audited financial statements are summarised below:

Income
Expenditure
Gain/(loss) on disposal of tangible fixed assets
Net (Expenditure) / Income
Total assets
Total liabilities
Total Funds		 2025
2024
£
£
830,831
1,091,275
(1,064,005)
(1,029,485)
2,585
(600)
(230,589)
61,190
710,259
554,716
(1,100,810)
(714,678)
(390,551)
(159,962)

A donation of £191,100 was received from Clervaux Garden School; £4,000 was received from Catherine Grace Trust and £19,000 was received from Ruskin Mill Trust Ltd. A donation of £2,301 (2024: £Nil) was paid to Clervaux Garden School. All were eliminated on consolidation.

g) Seòl Trust - a company registered in Scotland and limited by guarantee, company number SC626147 and charity number SC050258. Seòl Trust sub-leases from Ruskin Mill Centre for Research (related party), Pishwanton Woods, a 60-acre woodland with pastures, for the purpose of delivering work and living skills training for young people and adults with special needs both day and residential.

Its trading results for the year to 31 August 2025 as extracted from the audited financial statements are summarised below:

Income
Expenditure
Net Income
Total assets
Total liabilities
Total Funds		 2025
2024
£
£
348,448
825,114
(344,332)
(293,969)
4,116
531,145
67,685
57,525
(13,845)
(7,801)
53,840
49,724

A donation of £96,000 (2024: £638,063) was received from Ruskin Mill Trust Ltd and eliminated on consolidation.

55

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

8. Income from trading activities of subsidiaries (continued)

– h) Trigonos Trading Ltd a company limited by guarantee, company number 13906633. Trigonos Trading Ltd provides hospitality and event services.

Its trading results for the period to 31 August 2025 as extracted from the audited financial statements are summarised below:

Income
Cost of sales
Gross Profit
Administrative expenses
Net Expenditure
Total assets
Total liabilities
Total Funds		 2025
2024
£
£
492,169
322,971
(19,899)
(22,177)
472,270
300,794
(557,889)
(479,508)
(85,619)
(178,714)
207,400
219,829
(480,768)
(407,578)
(273,368)
(187,749)

There were no transactions with the parent company (2024: £Nil).

i) Ashdown Garden School - a company limited by guarantee, company number 16012835 and charity number 1216592 was incorporated on 11 October 2024. Ashdown Garden School was established for the purpose of building and running an independent special needs school at Forest Row, East Sussex.

Its trading results for the period from 11 October 2024 to 31 August 2025, as extracted from the audited financial statements, are summarised below:

Income
Expenditure
Net Expenditure
Total assets
Total liabilities
Capital and reserves		 2025
£
-
(129,880)
(129,880)
139,802
(269,682)
(129,880)

There were no transactions with the parent company.

56

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

9. Staff costs

Wages and salaries
Social security costs
Pension costs		 2025
2024
£
£
37,965,500
33,154,532
4,046,456
3,051,856
1,128,972
885,935
43,140,928
37,092,323

The monthly average number of full-time equivalent employees during the year was as follows:

Teaching
Care support and administration
Management		 2025
2024
No.
No.
276
256
705
635
89
76
1,070
967

The monthly average headcount number of employees during the year was as follows:

Teaching
Care support and administration
Management		 2025
2024
No.
No.
349
324
924
847
101
88
1,374
1,259

The numbers of employees earning more than £60,000 excluding employer NI and pension costs were:

2025 2024
No. No.
£60,001 - £70,000 10 11
£70,001 - £80,000 9 6
£80,001 - £90,000 2 5
£90,001 - £100,000 3 -
£100,001 - £110,000 1 3
£110,001 - £120,000 1 -
£120,001–£130,000 1 -

Contributions payable into the pension schemes for higher paid employees amounted to £33,203 (2024: £37,036) .

Key management personnel are the executive team and associate members. Remuneration for key management personnel including employer NI and pension costs totalled £721,233 in the year (2024: £621,576) .

During the year there were termination payments made which amounted to £78,260 (2024: £199,869) .

57

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

10. Trustees’ emoluments

Trustees received emoluments for their roles within the Executive Team as follows

The remuneration for Aonghus Gordon was £108,527 (2024: £105,366) with employer’s pension contributions of £52,631 (2024: £12,348). Remuneration for Helen Kippax was £53,554 (2024: £57,899). Remuneration for Constantin Court was £92,261 (2024: £86,865) with employer’s pension contributions of £3,015 (2024: £1,321).

An exceptional pension contribution of £130,608 was made in the prior year to Aonghus Gordon, being a correction to contractual entitlement for 2024 and prior years.

All payments to Trustees are authorised in the Charitable Company’s Memorandum of Association and the Charity Commission has been informed.

Expenses reimbursed to 6 Trustees (2024: 6) during the year amounted to £77,947 (2024: £106,335) all of which were for travel and subsistence apart from one small personal gift.

11. Intangible fixed assets

Group
Cost:
1 September 2024 and 31 August 2025
Amortisation:
1 September 2024
Charge for the year
31 August 2025
Net book value:
31 August 2025
31 August 2024		 Goodwill
£
249,836
162,396
12,492
174,888
74,948
87,440

Goodwill arose from the acquisition of shares in subsidiary undertaking Transform Residential Ltd from Ruskin Mill Land Trust. Goodwill is amortised over the Trustees’ estimate of its useful economic life.

58

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

12. Tangible fixed assets – Group

Cost
1 September 2024
Additions
Transfers
Disposals
Disposal of subsidiary
31 August 2025
Depreciation
1 September 2024
Charge for the year
Disposals
Disposal of subsidiary
31 August 2025
Net Book Value
31 August 2025
31 August 2024		 Freehold
Property
Leasehold
Improvements
Fixtures,
Fittings &
Equipment
Motor
Vehicles
Assets Under
Construction
Totals
£
£
£
£
£
£
780,000
8,363,792
3,234,199
929,689
1,698,484
15,006,164
-
2,850
300,490
607,211
3,159,487
4,070,038
-
3,424,017
226,123
500
(3,650,640)
-
-
(128,466)
(62,947)
(121,662)
(100,934)
(414,009)
(780,000)
-
-
-
-
(780,000)
-
11,662,193
3,697,865 1,415,738
1,106,397
17,882,193
36,400
3,001,836
2,690,059
636,544
-
6,364,839
15,600
336,586
262,946
172,741
-
787,873
-
(128,466)
(50,397)
(105,440)
-
(284,303)
(52,000)
-
-
-
-
(52,000)
-
3,209,956
2,902,608
703,845
-
6,816,409
-
8,452,237
795,257
711,893
1,106,397
11,065,784
743,600
5,361,956
544,140
293,145
1,698,484
8,641,325

The net book value of assets held under hire purchase contracts for the group was £3,679 (2024: £11,532) .

Capital commitments

At 31 August 2025, there were group capital commitments totalling £926,492 (2024: £Nil) for restoration of two Victorian stable blocks with modern extension to create new facilities in the grounds of the school at Sunfield Children’s Homes Ltd.

59

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

12. Tangible fixed assets – Charity

Cost
1 September 2024
Additions
Transfers
Disposals
31 August 2025
Depreciation
1 September 2024
Charge for the year
Disposals
31 August 2025
Net Book Value
31 August 2025
31 August 2024		 Leasehold
Improvements
Fixtures
Fittings and
Equipment
Motor
Vehicles
Assets
Under
Construction
Totals
£
£
£
£
£
6,359,965
1,937,130
624,997
953,642
9,875,734
2,850
173,043
289,201
488,815
953,909
512,392
9,746
500
(522,638)
-
-
(27,155)
(29,693)
(93,482)
(150,330)
6,875,207
2,092,764
885,005
826,337
10,679,313
2,420,234
1,631,231
425,643
-
4,477,108
293,882
153,695
101,336
-
548,913
-
(14,605)
(28,600)
-
(43,205)
2,714,116
1,770,321
498,379
-
4,982,816
4,161,091
322,443
386,626
826,337
5,696,497
3,939,731
305,899
199,354
953,642
5,398,626

Capital commitments

At 31 August 2025, the charity had no capital commitments (2024: £Nil).

60

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

13. Investments

Listed investments
Investment in Sunfield Children’s Homes Ltd
Shares in other subsidiaries at cost		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
599,538
-
588,068
-
-
2,065,832
-
2,065,832
-
1
-
1
599,538
2,065,833
588,068
2,065,833

Sunfield assets were gifted and acquired on 15 May 2017 and are held at valuation equal to the net assets on that date.

Shares in other subsidiaries are the shares held in Transform Residential Ltd at cost.

Investments in subsidiaries are classified as social investments.

Listed investments:
Market value 1 September 2024
Acquisitions at cost
Proceeds on disposal
Gain in the year
Market value 31 August 2025
Investments at market value:
SunfieldChildren’s Homes Ltd:
UK Bonds
UK Equities
Overseas Bonds
Overseas Equities
Alternative Investments
Property
Other Investments
Catherine Grace Trust:
Invesco
Henderson
Threadneedle
Total Investments at Market Value		 2025
2024
£
£
588,068
469,509
70,410
94,206
(92,663)
(29,559)
33,723
53,912
599,538
588,068
2025
2024
£
£
59,204
54,012
91,338
95,581
40,039
47,062
340,136
302,317
45,094
32,214
8,760
9,213
14,967
16,517
599,538
556,916
-
20,239
-
4,788
-
6,125
-
31,152
599,538
588,068

61

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

13. Investments (continued)

The following investments represent more than 5% of the total market value:

2025 2024
£ £
IShares Core S&P 500 69,059 57,303
Vanguard US Equity Index 55,711 48,116
Brown Advisory US Sustainable Growth 36,212 34,195
ebtors: amounts falling due within one year
Group Charity Group Charity
2025 2025 2024 2024
£ £ £ £
Trade debtors 7,491,543 5,648,008 4,749,507 2,865,635
Amounts due from group undertakings - 1,465,201 - 1,531,474
Other debtors 674,593 499,911 423,988 229,300
Prepayments and accrued income 334,521 287,042 383,182 347,400
8,500,657 7,900,162 5,556,677 4,973,809

14. Debtors: amounts falling due within one year

15. Creditors - amounts falling due within one year

Bank overdraft
Trade creditors
Amounts owed to group
undertakings
Social security and other taxes
Pension contributions payable
Other creditors
Fees in advance
Accruals and deferred income
Fees in advance
Amounts brought forward
Amounts received during the year
Amounts utilised during the year
Amounts carried forward		 Group
2025
Charity
2025
Group
2024
Charity
2024
£
£
£
£
27,212
-
-
-
3,730,476
2,877,625
2,319,114
1,854,857
-
855,501
-
907,209
1,424,204
630,329
801,596
465,461
334,845
117,398
152,375
86,840
704,195
592,660
705,361
594,481
1,372,922
998,693
2,264,654
1,565,925
566,207
405,132
587,455
374,430
8,160,061
6,477,338
6,830,555
5,849,203
Group
2025
Charity
2025
Group
2024
Charity
2024
£
£
£
£
2,264,654
1,565,925
2,138,497
1,512,385
70,069,120
38,460,725
62,082,750
33,270,330
(70,960,852)
(39,027,957)
(61,956,593)
(33,216,790)
1,372,922
998,693
2,264,654
1,565,925

The closing balance of fees received in advance relates to fees received in respect of the 2025-26 academic year.

62

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

16. Creditors – Amounts falling due after more than one year

Bank loan
Pension liability		 Group
2025
Charity
2025
Group
2024
Charity
2024
£
£
£
£
-
-
346,000
-
53,000
-
53,000
-
53,000
-
399,000
-

Bank loan

The bank loan was partially repaid during the year by an amount of £246,000. The subsidiary in which the bank loan is held, was subsequently donated to a related party. The loan is repayable on an interest only basis until the maturity of the loan in May 2037, at which point the capital will become due. Interest is charged at 2.95% above the Lloyds bank base rate.

Pension liability

One of the charity's subsidiaries makes pension payments to certain former employees under an unfunded pension arrangement. A provision has been made to reflect the costed liability of these payments.

17. Operating lease commitments

At the year end the group had total commitments due under non-cancellable operating leases as set out below:

Expiry Date:
Within 1 year
Between 2 and 5 years
Over 5 years		 Land and
Buildings
Other
Land and
Buildings
Other
2025
2025
2024
2024
£
£
£
£
2,266,671
33,727
2,366,454
45,298
7,243,094
68,144
7,209,190
46,340
4,272,655
-
6,988,268
-
13,782,420
101,871
16,563,912
91,638

18. Group financial instruments

roup financial instruments
2025 2024
£ £
Financial assets measured at fair value 599,538 588,068

Financial assets measured at fair value comprise listed investments and is the market value at the balance sheet date.

63

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

19. Restricted Funds

Restricted funds - 2025
Charity
Building Improvements
Ruskin Mill College Farm Projects
Freeman College Crafting the Land
Youth Exchange 2
Freeman College Ridan Composter
Freeman College Defibrillators
Fisheries Response
Outdoor Centres
Felting
Steiner Research
Farm Machinery
Willow Weaving Equipment
Tyr Eithin Ridan Composter
Horticulture/Farm Equipment
Hen House
Green Woodwork
Battery Powered Tools
Andrew Greary Stone Plaque Project
Bike Equipment
Apple Pressing Equipment
High Riggs Shepherd's Hut
Animal Shelters
Soft Fruit Garden
Iron Mongers Equipment
Arts Council
High Riggs Compost Toilet
Freeman College Ewe Crate
Plas Dwbl Arbor Trolley
Hen House & Wellies
Freeman College Apple Pressing
Equipment
Donation from Jonathan Stedall
Pembrokeshire Coast Park Grant
Music Curriculum
Glass Gallery
Parkwood Lake Development
Ashdown Garden School
Clervaux Trust
Charity restricted funds		 1 September
2024
Incoming
Resources
Outgoing
Resources
Transfer
31 August
2025
£
£
£
£
£
188,873
-
(113,068)
-
75,805
6,388
-
(6,388)
-
-
2,795
-
(2,795)
-
-
4,028
-
(4,028)
-
-
3,344
-
(3,344)
-
-
1,234
-
(1,234)
-
-
10,000
-
(10,000)
-
-
1,193
-
(1,193)
-
-
500
-
-
-
500
160,000
40,000
-
-
200,000
1,782
-
(1,782)
-
-
750
-
-
-
750
3,500
-
(3,500)
-
-
6,750
-
-
-
6,750
950
-
(950)
-
-
6,695
-
-
-
6,695
5,002
-
-
-
5,002
3,000
-
(3,000)
-
-
125
-
-
-
125
1,295
-
(1,295)
-
-
1,952
-
(1,952)
-
-
500
-
(500)
-
-
354
-
(354)
-
-
8,105
-
-
-
8,105
91,815
17,100
(108,915)
-
-
1,000
-
(1,000)
-
-
650
-
(650)
-
-
1,755
-
(1,755)
-
-
612
-
(612)
-
-
1,333
-
(1,333)
-
-
10,000
-
-
-
10,000
320
-
(320)
-
-
6,094
-
(6,094)
-
-
11,000
-
-
(11,000)
-
3,954
-
-
-
3,954
-
10,000
-
11,000
21,000
-
500
-
-
500
547,648
67,600
(276,062)
-
339,186

64

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

19. Restricted Funds (continued)

Restricted funds - 2025 (continued)
Charity restricted funds
Brantwood Specialist School reserves
Catherine Grace Trust reserves
Clervaux Garden School reserves
Clervaux Trust reserves
Seòl Trust reserves
SunfieldChildren’s Homes Ltd
reserves
Group restricted funds		 1 September
2024
Incoming
Resources
Outgoing
Resources
Transfer
31 August
2025
£
£
£
£
£
547,648
67,600
(276,062)
-
339,186
6,599
-
(6,599)
-
-
10,106
-
(10,106)
-
-
5,000
321
(321)
-
5,000
69,882
43,093
(86,587)
-
26,388
5,381
-
(3,881)
-
1,500
70,000
449,975
(246,437)
-
273,538
714,616
560,989
(629,993)
-
645,612

This is a Building Improvement Fund (BIF) grant from the EFSA to help improve the buildings Building across all sites. The capital projects undertaken include improvements to the Merlin Improvements Theatre, Harleston House and Gables Farmhouse. These funds will be held as restricted for the next ten years, in line with the terms of the BIF grant. Each applicable year a transfer is made from this fund.

Ruskin Mill College Farm Projects

Donations have been received for Farm Projects at Ruskin Mill College. The expenditure within the year has been on equipment for the Farm.

Freeman College Crafting the Land

Donations were received for the Crafting the Land project that is run at High Riggs Biodynamic Garden. These funds have now been used for this purpose.

Youth Exchange 2

Erasmus Funded Project for students of Ruskin Mill Trust to travel to Germany on a cultural exchange programme. This project has now been completed and is closed.

Freeman College Ridan Composter

Donations have been received for the purchase of a Ridan Composter at High Riggs Biodynamic Garden. This has been purchased and enables the garden to have improved composting facilities on site.

Freeman College Defibrillators

Donations were received to purchase additional defibrillators for other Freeman College sites. One has been placed at High Riggs and a second at the Merlin Theatre.

Fisheries Response

A £10,000 donation was received from the Fisheries Response. This donation has been spent on the fish farm at Ruskin Mill College.

65

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

19. Restricted Funds (continued)

Restricted funds - 2025 (continued)

This donation was received to develop the outdoor centres of Ruskin Mill Trust and Outdoor Centres has now been spent at High Riggs.

A £500 donation was received to develop a felting workshop at Tyr Eithin. This will be Tyr Eithin Felting put to good use in 2025-26.

Steiner Research These donations have been received to further research into the Steiner method.

Donations have been received for Farm Machinery for Ruskin Mill College. A brush Farm Machinery cutter was purchased last year, and further purchases were made in 2024-25.

Willow Weaving This donation was received to purchase equipment for a willow weaving workshop at Equipment Tyr Eithin. This will be put to good use in 2025-26. Various donations were received to purchase a Ridan Composter at Tyr Eithin. This Tyr Eithin Ridan has been purchased and enables the site to have better composting facilities and Composter improved production.

Horticulture/Farm Various donations were received for the purchase of horticulture and farm Equipment equipment at Tyr Eithin. These will be used to develop the site and curriculum. A donation was received for the purchase of a Hen House at Tyr Eithin. This has now Hen House been purchased.

Donations were received to develop the Green Woodworking curriculum at Tyr Eithin. Green Woodwork These will be put to good use in 2025-26. Battery Powered This donation was received for the purchase of battery powered tools for Tyr Eithin. Tools This will enable the site to be developed and will be purchased in 2025-26. Andrew Greary A donation was received for the Andrew Greary Stone Plaque project. This project Stone Plaque has been completed with the students. Project A donation was received for bike equipment at Tyr Eithin. Items will be purchased in Bike Equipment 2025-26. Donations were received to purchase apple pressing equipment at Ruskin Mill Apple Pressing College. The college now produces its own apple juice using apples from its own Equipment orchard; and which is sold in the shop and café. High Riggs Various donations were received to purchase a Shepherd's Hut at High Riggs. This Shepherd's Hut has been purchased and is now being used as a classroom on site. A £500 donation was received so an animal shelter can be purchased at High Riggs. Animal shelters This is now in place.

66

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

19. Restricted Funds (continued)

Restricted funds - 2025 (continued)

Soft Fruit Donations were received and have created a soft fruit garden at Tyr Eithin. Garden Iron Mongers Donations were received for the purchase of Iron Mongers equipment at Tyr Eithin. Equipment This will enable the curriculum to be expanded and hopefully attract further students. Donation have been received from the Arts Council. These have been used to develop Arts Council the arts centre at Glasshouse College, including improved lighting. High Riggs A £1,000 donation was received from the James Neil Trust towards the cost of new Compost Toilet compost toilets now built at High Riggs. Freeman A £650 donation was received from the Yorkshire Agricultural Society and has been College Ewe used to purchase a ewe crate at Freeman College. Crate Plas Dwbl Arbor A £755 donation from the POBL Trust, and a £1000 donation from the Barnard Trolley Kenneth Hufton Charity have been used to purchase an Arbor Trolley at Plas Dwbl. A £2,000 donation was received from the Worshipful Company of Woolmen to Hen House & purchase a hen house and wellies. The final equipment was purchased in the 2024Wellies 25 financial year. Freeman A £1,333 donation was received from the Westfield Health Giving Back Committee College Apple for the purchase of apple pressing equipment at High Riggs. This has now been Pressing purchased. Equipment Donation from A £10,000 donation has been received from Jonathan Stedall to increase awareness Jonathan Stedall of the film "The Challenge of Rudolph Steiner". Pembrokeshire Coast Park This grant has now been spent. Grant

A £10,000 donation was received from Horlock Education and a further £500 from New Music Champions Charity for the development of a new music curriculum. These donations Curriculum have been used to buy a wide variety of music instruments for use throughout several of the Trusts schools and colleges.

An £11,000 donation from the Sterling Charity has been reallocated to contribute Glass Gallery towards the development of the new Ashdown Garden School.

A £5,000 donation was received from the Dennis Gould Foundation. This is to further Park Wood Lake develop the animal curriculum. An Ecology Survey has taken place at Park Wood on Development the Gloucester site and this project is still in progress.

67

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

19. Restricted Funds (continued)

Restricted funds - 2025 (continued)

Ashdown Garden School

During the year, donations were received from the Worshipful Company of Woolmen, £2,500 and the Dennis Gould Foundation, £7,500. These donations will be used for items required by the new Ashdown Garden School.

Clervaux Trust

The donation in the year of £500 was received from the Champniss Charitable Trust. These funds are allocated to Clervaux Trust Ltd for their Knit & Natter fund.

Restricted funds comparative - 2024
Charity
Sunfield - Grant
Building Improvements
Farm Projects
Crafting the land
Youth Exchange 2
Glastir Capital Works
Wool Barn Build
Ridan Composter
Student Activities
Defibrillators
Covid-19 Donations
Fisheries Response
Outdoor Centres
Felting
Steiner Research
Pathways Project
Farm Machinery
Willow Weaving Equipment
Ridan Composter
Hort/Farm Equipment
Hen House
Green Woodwork
S Reed–Erasmus
Battery Powered Tools
VHF Tractor
Andrew Greavy Stone Plaque Project
Bike Equipment
Apple Pressing Equipment
High Riggs Shepherd's Hut
Animal Shelters
Soft Fruit Garden
Iron Mongers Equipment
Arts Council
Carried forward		 1 September
2023
Incoming
Resources
Outgoing
Resources
Transfer
31 August
2024
£
£
£
£
£
2,065,832
-
-
(2,065,832)
-
301,941
-
(113,068)
-
188,873
6,388
-
-
-
6,388
2,795
-
-
-
2,795
4,028
-
-
-
4,028
41,669
-
(41,669)
-
-
77,014
2,000
(79,014)
-
-
3,344
-
-
-
3,344
1,495
-
(1,495)
-
-
1,234
-
-
-
1,234
7,565
-
(7,565)
-
-
10,000
-
-
-
10,000
1,193
-
-
-
1,193
500
-
-
-
500
120,000
40,000
-
-
160,000
138
-
(138)
-
-
3,000
-
(1,218)
-
1,782
750
-
-
-
750
3,500
-
-
-
3,500
6,750
-
-
-
6,750
950
-
-
-
950
6,695
-
-
-
6,695
20,997
-
(20,997)
-
-
5,002
-
-
-
5,002
20,436
-
(20,436)
-
-
3,000
-
-
-
3,000
125
-
-
-
125
1,295
-
-
-
1,295
1,952
-
-
-
1,952
500
-
-
-
500
354
-
-
-
354
8,105
-
-
-
8,105
100,467
-
(8,652)
-
91,815
2,829,014
42,000
(294,252)
(2,065,832)
510,930

68

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

19. Restricted Funds (continued)

Restricted funds - 2024 (continued)

Restricted funds comparative - 2024
(continued)
Brought forward
High Riggs Compost Toilet
Ewe Crate
Arbor Trolley
Hen House & Wellies
Apple Pressing Equipment
Donation from Jonathan Stedall -
Cupola
Pembrokeshire Coast Park Grant
Music Curriculum
Glass Gallery
Parkwood Lake Development
Charity restricted funds
Brantwood Specialist School reserves
Catherine Grace Trust reserves
Clervaux Garden School reserves
Clervaux Trust reserves
Seòl Trust reserves
SunfieldChildren’s Homes Ltd
reserves
Responsive Earth Grant
Group restricted funds		 1 September
2023
Incoming
Resources
Outgoing
Resources
Transfer
31 August
2024
£
£
£
£
£
2,829,014
42,000
(294,252)
(2,065,832)
510,930
1,000
-
-
-
1,000
650
-
-
-
650
1,755
-
-
-
1,755
2,000
-
(1,388)
-
612
1,333
-
-
-
1,333
10,000
-
-
-
10,000
320
-
-
-
320
-
10,500
(4,407)
-
6,093
-
11,000
-
-
11,000
-
5,000
(1,046)
-
3,954
2,846,072
68,500
(301,093)
(2,065,832)
547,647
10,350
500
(4,250)
-
6,600
16,354
7,400
(13,648)
-
10,106
6,666
-
(1,666)
-
5,000
77,956
25,308
(33,382)
-
69,882
2,840
3,000
(459)
-
5,381
111,665
20,287
(61,952)
-
70,000
16,523
-
(16,523)
-
-
3,088,426
124,995
(432,973)
(2,065,832)
714,616

The conditions that were attached during the merger of Sunfield Children’s Homes Ltd and Ruskin Mill Trust Ltd are now met. The amount of £2,065,832 was transferred from restricted to unrestricted reserves at 31 August 2024.

69

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements For the year ended 31 August 2025

20. Unrestricted funds

Unrestricted funds - 2025

Charity
Designated funds
Other unrestricted funds
Charity unrestricted funds
Subsidiaries
Designated funds
Other unrestricted funds
Subsidiary unrestricted
funds
Group subtotals
Designated funds
Other unrestricted funds
Consolidation
adjustments
Goodwill on consolidation
Disposal of investment in
Helios Trust
Group unrestricted funds		 1 September
2024
Incoming
Resources
Outgoing
Resources
Transfers
31 August
2025
£
£
£
£
£
-
-
-
1,500,000
1,500,000
7,024,208
43,641,904
(40,922,167)
(1,500,000)
8,243,945*
7,024,208
43,641,904
(40,922,167)
-
9,743,945
-
-
-
1,000,000
1,000,000
7,470,176
30,177,306
(29,393,451)
(1,000,000)
7,254,031
7,470,176
30,177,306
(29,393,451)
-
8,254,031
-
-
-
2,500,000
2,500,000
14,494,384
73,819,210
(70,315,618)
(2,500,000)
15,497,976
87,438
-
(12,492)
-
74,946
-
-
86,131
-
86,131
14,581,822
73,819,210
(70,241,979)
-
18,159,053

Designated funds

Designated funds have been created to finance capital building and renovation works for planned growth of the charity and one of its subsidiaries.

70

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

20. Unrestricted funds (continued)

Unrestricted funds – 2024

Unrestricted funds–2024
Charity unrestricted funds
Subsidiary unrestricted funds
Consolidation adjustments:
Goodwill on consolidation
Group unrestricted funds		 1 September
2023
Incoming
Resources
Outgoing
Resources
Transfers
31 August
2024
£
£
£
£
£
2,313,942
42,725,047
(40,080,613)
2,065,832
7,024,208
6,179,596
22,670,320
(21,379,740)
-
7,470,176
99,930
-
(12,492)
-
87,438
8,593,468
65,395,367
(61,472,845)
2,065,832
14,581,822

The conditions that were attached during the merger of Sunfield Children’s Homes Ltd and Ruskin Mill Trust Ltd are now met. The amount of £2,065,832 was therefore transferred from restricted to unrestricted reserves at 31 August 2024.

21. Analysis of net assets between funds

31 August 2025
Restricted funds
Unrestricted funds
31 August 2024
Restricted funds
Unrestricted funds		 Fixed
assets
Net current
assets
Long term
liabilities
Fund
balances
£
£
£
£
-
645,612
-
645,612
11,740,270
6,471,783
(53,000)
18,159,053
11,740,270
7,117,395
(53,000)
18,804,665
-
714,616
-
714,616
9,316,833
5,663,989
(399,000)
14,581,822
9,316,833
6,378,605
(399,000)
15,296,438

71

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

22. Cash flows from operating activities

Net movement in funds
Gain on investments
Investment income and interest received
Financing costs
Depreciation of tangible fixed assets
Loss on disposal of tangible fixed assets
Amortisation of goodwill
Increase in stocks
(Increase) / decrease in debtors
Decrease in cash on disposal of subsidiary
Increase / (decrease) in creditors
Net cash provided by operating activities		 2025
2024
£
£
3,508,227
3,614,544
(33,723)
(53,912)
(134,243)
(100,187)
276,634
291,781
787,873
631,498
75,934
2,092
12,492
12,492
(2,433)
(1,421)
(2,943,980)
1,721,862
(10,191)
-
1,301,423
(154,312)
2,838,013
5,964,437
23.
Analysis of changes in net funds
Cash at bank and in hand
Bank overdraft
Cash and cash equivalents
Bank loan falling due after more than
one year
Net funds		 1 September
2024
Cash
Flows
Non-Cash
Changes
31 August
2025
£
£
£
£
7,636,273
(878,117)
-
6,758,156
-
(27,212)
-
(27,212)
7,636,273
(905,329)
-
6,730,944
(346,000)
(246,000)
(100,000)
-
7,290,273
(1,151,329)
(100,000)
6,730,944

The bank loan was partially repaid during the year by an amount of £246,000. The subsidiary in which the bank loan is held, was subsequently donated to a related party.

72

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

24. Pensions

The charity operates a defined contribution pension scheme in respect of the staff. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the group and amounted to £1,128,972 (2024: £885,935).

One of the subsidiaries, Sunfield Children’s Homes Ltd participates in the Teachers’ Pension Scheme (“the TPS”) for certain teaching staff. Included with the pension charge above are contributions payable to the TPS of £125,848 (2024: £55,170) and at the year-end an amount was payable of £153,586 (2024: £6,669). During the year, the scheme was opened to additional employees. The balance at 31 August 2025 includes a provision of £131,595 for back-dated contributions due.

The TPS is a statutory, multi-employer defined benefit occupational pension scheme, governed by the Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Further details are included in the financial statements for Sunfield Children’s Homes Ltd.

73

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

25. Related party transactions

2025 transactions and year-end balances between the parent entity and its subsidiaries:

Ashdown Garden Brantwood Specialist Clervaux Transform SunfieldChildren’s Clervaux Garden Seòl Catherine Grace Trigonos Helios
School School Trust Residential Ltd Homes Ltd School Trust Trust Trading Ltd Trust
£ £ £ £ £ £ £ £ £ £
Donations
received - 1,408,932 - 838,267 1,950,000 287,701 - 200,000 - -
Donations paid - - (19,000) - - (4,668) (96,000) - - -
Trade debtor
amounts 228,516 - 896,925 - - - - - 339,759 -
Trade creditor
amounts - - - (791,201) - (64,300) - - - -

2024 transactions and year-end balances between the parent entity and its subsidiaries:

Ashdown Garden Brantwood Specialist Clervaux Transform Sunfield Children’s Clervaux Garden Seòl Catherine Grace Trigonos Helios
School School Trust Residential Ltd Homes Ltd School Trust Trust Trading Ltd Trust
£ £ £ £ £ £ £ £ £ £
Donations
received - 1,119,228 - - 2,255,000 100,000 - 400,000 - -
Donations paid - - - - - - (683,063) - - -
Trade debtor
amounts - - 596,925 - - - - 594,144 274,599 65,805
Trade creditor
amounts - - - (295,948) (611,261) - - - - -

74

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

25. Related party transactions (continued)

During the year, trustees of Ruskin Mill Trust Ltd were directors / trustees of other companies and charitable organisations with which the group transacted as follows:

Aonghus Gordon was a director of Ruskin Mill Land Trust Ltd, the sole corporate Trustee of Ruskin Mill Land Trust. Aonghus Gordon resigned as a director and trustee of Ruskin Mill Land Trust Ltd on 31 August 2025.

Aonghus Gordon is a director of Ruskin Mill Land Trust subsidiaries: Academy of Makers Ltd, Emerson College Trust Ltd, Ruskin Glass Centre Ltd

Aonghus Gordon, Helen Kippax and Constantin Court are directors of Ruskin Mill Land Trust subsidiary: Ruskin Mill Centre for Practice

Aonghus Gordon and Helen Kippax are directors of Ruskin Mill Land Trust subsidiaries: Ruskin Mill Centre for Research, The Life Science Trust

Aonghus Gordon is Trustee for The HIRAM Trust, The Responsive Earth Trust

Aonghus Gordon is a Director of Ruskin Mill Ltd, The Living Earth Land Trust, Trigonos

One connected party of Aonghus Gordon received remuneration of £14,209 (2024: £12,541) in the year as an employee. One connected party of Helen Kippax received remuneration in the year as an employee of £5,947 (2024: £29,315).

75

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

25. Related party transactions (continued)

2025 transactions between the group and its related parties:

The The Living Ruskin Mill The Life Academy Ruskin Ruskin Mill Emerson
Ruskin Mill Responsive Earth Land The HIRAM Ruskin Mill Centre for Science of Makers Glass Centre for College
Land Trust Earth Trust Trust Trust Ltd Practice Trust Trigonos Ltd Centre Ltd Research Trust Ltd
£ £ £ £ £ £ £ £ £ £ £ £
Purchases:
Ruskin Mill Trust Ltd 2,623,571 33,896 52,515 7,500 120,535 1,657,119 - - 78,631 12,892 - -
Brantwood Specialist School 217,994 - - - - - - - - - - -
Catherine Grace Trust 218,129 - - - - - - - - - - -
Clervaux Trust Ltd 90,503 - - - - - - - - - - -
Sunfield Children’s Homes
Ltd 370,800 - - - - - - - - - - -
Seòl Trust - - - - - - - - - - 40,788 -
Transform Residential Ltd - 20,194 - - - - - - - - - -
Trigonos Trading Ltd - - - - - - - 44,187 - - - -
Charitable donations paid:
Ruskin Mill Trust Ltd 740,000 - - - - - - - - - - -
Catherine Grace Trust 725,194 - - - - - - - - - - -

76

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

25. Related party transactions (continued)

2025 transactions between the group and its related parties (continued):

Ruskin Mill The The Living Ruskin Mill Academy Ruskin Ruskin Mill Emerson
Land Trust Responsive Earth Land The HIRAM Ruskin Mill Centre for of Makers Glass Centre for College
Group Earth Trust Trust Trust Ltd Practice Trigonos Ltd Centre Ltd Research Trust Ltd
£ £ £ £ £ £ £ £ £ £ £
Trade debtor amounts due:
Ruskin Mill Trust Ltd 60,039 - - 2,665 15,200 - - - - - -
Trade creditor amounts
due:
Ruskin Mill Trust Ltd (1,552,059) (14,124) (8,752) - (38,443) (381,497) - (6,424) (2,164) - (60,000)
Clervaux Trust Ltd (9,050) - - - - - - - - - -
Sunfield Children’s Homes -
Ltd (30,900) - - - - - - - - -
Catherine Grace Trust (18,177) - - - - - - - - - -
Transform Residential Ltd - (1,683) - - - - - - - - -
Seol Trust - - - - - - - - - (3,399) -
Trigonos Trading Ltd - - - - - - (3,682) - - - -

77

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

25. Related party transactions (continued)

2024 transactions between the group and its related parties:

Ruskin Mill The The Living Ruskin Mill The Life Academy Ruskin Ruskin Mill
Land Trust Responsive Earth Land The HIRAM Ruskin Mill Centre for Science of Makers Glass Centre for
Group Earth Trust Trust Trust Ltd Practice Trust Trigonos Ltd Centre Ltd Research
£ £ £ £ £ £ £ £ £ £ £
Sales:
Ruskin Mill Trust Ltd - - - - (15,000) - - - - - -
Purchases:
Ruskin Mill Trust Ltd 1,817,806 32,909 - 7,500 145,321 1,456,688 - - 73,163 22,285 -
Brantwood Specialist School 211,813 - - - - - - - - - -
Catherine Grace Trust 211,776 - - - - - - - - - -
Clervaux Trust Ltd 87,867 - - - - - - - - - -
SunfieldChildren’s Homes Ltd 360,000 - - - - - - - - - -
Seòl Trust - - - - - - 7,004 - - - 36,300
Transform Residential Ltd - 19,605 - - - - - - - - -
Trigonos Trading Ltd - - - - - - - 42,900 - - -
Charitable donations paid:
Ruskin Mill Trust Ltd 600,000 - - - - - - - - - -

78

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements For the year ended 31 August 2025

25. Related party transactions (continued)

2024 transactions between the group and its related parties (continued):

Ruskin Mill The The Living Ruskin Mill Academy Ruskin Ruskin Mill
Land Trust Responsive Earth Land The HIRAM Ruskin Mill Centre for of Makers Glass Centre for
Group Earth Trust Trust Trust Ltd Practice Trigonos Ltd Centre Ltd Research
£ £ £ £ £ £ £ £ £ £
Trade debtor amounts due:
Ruskin Mill Trust Ltd 60,039 1,995 - 2,665 15,000 - - - -
Trade creditor amounts
due:
Ruskin Mill Trust Ltd (740,276) - (8,995) - (7,393) (142,138) - (5,899) (38,617) -
Transform Residential Ltd - (3,268) - - - - - - - -
Trigonos Trading Ltd - - - - - - (3,575) - - -

79

Ruskin Mill Trust Limited

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025

Notes to the Financial Statements

For the year ended 31 August 2025

26. Group statement of financial activities for the year to 31 August 2024

Notes
Income
Grants and donations
2,3
Charitable activities
4
Other trading activities
Investment income
5
Total Income
Expenditure
Charitable activities
Governance costs
Other trading expenditure
Total Expenditure
7
Net income / (expenditure)
before gain / (loss) on
investments
Gain / (loss) on investments
Group net income /
(expenditure)
6
Transfers between funds
19
Net (loss) / gain on disposal of
fixed assets
Net income and net movement
in funds
Reconciliation of funds:
Total funds brought forward
Total Funds Carried Forward
19,20		 Unrestricted
Funds
Restricted
Funds
Total Funds
2024
£
£
£
243,626
124,995
368,621
57,974,557
-
57,974,557
7,025,178
-
7,025,178
100,187
-
100,187
65,343,548
124,995
65,468,543
(55,220,354)
(320,657)
(55,541,011)
(426,694)
-
(426,694)
(5,825,798)
(112,316)
(5,938,114)
(61,472,846)
(432,973)
(61,905,819)
3,870,702
(307,978)
3,562,724
53,912
-
53,912
3,924,614
(307,978)
3,616,636
2,065,832
(2,065,832)
-
(2,092)
-
(2,092)
5,988,354
(2,373,810)
3,614,544
8,593,468
3,088,426
11,681,894
14,581,822
714,616
15,296,438

80

Ruskin Mill Trust Limited