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2025-08-31-accounts

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust

(A Company Limited by Guarantee)

Incorporated in England and Wales No. 09223197 Registered Charity No. 1160465

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

For the year ended

31 August 2025

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust

CONTENTS for the year ended 31 August 2025

Page
Trustees' Report 1
Auditors' Report 8
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Financial Statements 15

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust REPORT OF THE TRUSTEES for the year ended 31 August 2025

Trustees A Durban
M Kutner
S Sultman
H Zetter
L Portnoi
S Daniels
Governors Ron Brown Governor (Resigned on 18 Oct '25)
Mark Cohen Governor
Steven Daniels Governor
Ali Durban Governor
Leandri Ferreira Associate Governor (Resigned on 11 Apr '25)
Bradley Hartstone Parent Governor
Paul Hodgkinson Associate Governor (Resigned on 4 Jun '25)
Jonathan Mindell Governor
Jane Rome Governor
Annabel Rose Governor (Appointed on 12 Dec '24)
Nigel Rose Parent Governor (Resigned on 15 Apr '25)
Graham Sherling Associate Governor
Per Simonsson Governor
Patricia Soyemi Governor (Resigned on 3 Mar '25)
David Summers Associate Governor
Kalliopi Vardava Governor (Appointed on 20 Mar '25)
Rama Venchard Chair of Governors
Tamaryn Yartu Headteacher
Head Teacher T Yartu
Company registered number: 09223197
Charity registered number: 1160465
Registered Office: Gesher School
Cannon Lane
Pinner
HA5 1JF
Bankers: National Westminster Bank Plc
250 Bishopsgate
London
EC2M 4AA
Auditors: Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust REPORT OF THE TRUSTEES

for the year ended 31 August 2025

The Trustees present their annual report together with the financial statements and independent auditors’ reports of the charitable company for the year 1 September 2024 to 31 August 2025. This annual report serves the purposes of a Trustees' report, a Directors' report and a Strategic Report under company law.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the company’s Memorandum and Articles of Association, Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and in accordance with the requirements for a Directors’ report prepared for a small company under the Companies Act 2006.

As demonstrated in this report, we are very pleased to state that The Gesher Trust is still considered a ‘going concern’ and that we have met all regulatory and statutory compliance commitments.

Objectives and Activities

The primary objects of the Gesher Trust (‘’the Charity’’) are to advance, for the public benefit, the education of children with special educational needs in the United Kingdom, in particular by establishing, maintaining, carrying on, managing and developing a school or schools providing education for children with special educational needs following the principles of the Jewish faith.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Our longer-term aims include achieving our total capacity of 120 children on roll; maintaining the quality of education we provide to the children we serve; building a fully equipped life skills room; overhauling the external play and learning spaces; continuing to adapt and upgrade the school building; and building relationships with the community and employer partners.

Achievements and performance

Numbers on roll

In September 2024 we introduced Year 10 for the first time. By 31 August 2025, we had a total of 72 pupils on roll, i.e. 34 pupils in Primary and 38 students in Secondary.

Project Based Learning

Project Based Learning (PBL) continues to grow from strength to strength across the school, and the level of creativity and thought has been outstanding, which has been reflected in the work produced, feedback from parents and the general engagement and excitement of students across the school. An external moderator stated 'The pedagogy is strong, with very few inconsistencies. Particular high-quality features are the effectiveness of staff modelling high expectations, behaviours, social interactions, how to do something, and what the desired outcome should look like. Also, the quality and extent of adaptive teaching for all pupils so that they enjoy learning, make academic progress and develop independence.'

Dining

Dining and lunch times are used to facilitate communication, social and life skills. 70% (2024: 69%) of the pupils are eating either a full meal or trying new foods daily, which is a real triumph for our pupils who were picky eaters. The following clubs are offered during lunchtimes to further support social skills: Creative Club, Football Club, Girls Club, Board Games, Pokemon Club, Lego Club, Train Club, Zen Club and Disney Club.

Attendance

Pupil attendance over the past year has been 93.6% (2024: 92.9%) compared to the national average for state special schools of 87.1%. We have an aspirational target of 96%. A recent review by the London Borough of Harrow Attendance Officer reported that ‘The school’s commitment to fostering strong relationships with pupils and families, alongside its proactive and flexible approach to attendance, is clearly embedded in its practice. Staff demonstrate a deep understanding of their community and work collaboratively to remove barriers to attendance, ensuring every child has the opportunity to thrive. The systems in place are robust, reflective, and responsive, and the school should be commended for the positive impact this has on pupil engagement and attendance outcomes.’

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust

REPORT OF THE TRUSTEES (CONTINUED)

for the year ended 31 August 2025

Parent, staff and student feedback

Over the year we had a number of student, staff and parent surveys alongside the Ofsted survey conducted as part of the inspection in July. With this we had an overwhelming positive response with some key actionable next steps for us to takeaway and embed. Staff said the following 'Gesher is wonderful in so many ways. You have created an environment where I can express any suggestions and problems', and next steps ideas from one staff member, including 'Ensuring that we continue to celebrate all who work here for their hard work and achievement, from the wellknown to the unsung.’

Parents said the following ‘ Excellent resources on your website, thank you for this' , ' More overnight trips ', ‘Opportunity for media studio in Y10 & Y11 to further explore DT, art and photography' and ‘Thank you for going the extra mile to support. I am appreciative of the excellent and outstanding service.’

From our student survey, 94.4% of primary students feel safe at school, with 5.6% feeling safe sometimes. In the secondary phase, 75% of students report having an adult to talk to at all times, while 25% feel they only have someone to talk to sometimes.

Assessment Framework

Our Assessment Framework has been further developed to focus on six key areas encompassing the whole student, not just essential skills such as literacy and numeracy, but covering technological, analytical, social, life and selfmanagement skills.

The Bridges Foundation

Our bespoke life skills scheme, ‘Bridges’, continues to be enhanced as students earn badges, which are now recorded on SOLAR as part of the new assessment framework. Bridges for Life, for secondary students, is being implemented based on the mapping process. Feedback from this implementation and student responses are helping to develop specific and detailed award descriptors. The next steps include formatting and creating the handbook to accompany the Bridges Foundation program.

Careers

Over the year we have continued to meet Gatsby's Benchmarks by providing opportunities for most of our Year 10 cohort to participate in some form of meaningful work experience linked to their interests. These include spending time at a local nursery, at a local office and at stables. Preparing for this experience has helped initiate conversations around pupils' next phases and the different pathways they may take when they leave Gesher after Year 11.

All Year 9 and 10 pupils participated in work shadowing around the school, which was a huge success. Many of them felt a sense of pride and enjoyed the responsibility of supporting various areas of the school, including the younger primary classes, the security team, and premises maintenance.

We held another successful whole school Careers Day which catered for all year groups. This year, our theme was 'I Can Do Anything', which consisted of hosting a diverse Careers Fair, running various career simulations in classrooms, and an Enterprise afternoon focusing on entrepreneurship for secondary studies. We had 3 guests who came in to discuss their business they started from scratch. The aim of this day was for pupils to explore different transferable 'soft skills' that are used across industries.

We have appointed a 'Head of Partnerships' who is now dedicated to helping build relationships with both businesses and local career orientated organisations e.g. Career Hubs. Conversations with various local organisations and settings have begun with the aim of sharing best practices in careers education curriculum.

Engagement with the Jewish Community

Pilot synagogues have established Accessibility WhatsApp groups and have held regular meetings with neurodiverse members of their communities to discuss how to enhance inclusivity and identify necessary resources.

The United Synagogue, along with the Gesher Lead Advocate for Additional Needs, has collaborated with JAMI on a suicide prevention project that represents neurodivergent individuals and is part of the JAMI Youth and Mental Health Network. This partnership has led to the development of the "Herts for Change" parent-carer support group for synagogues in the Hertfordshire area.

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust REPORT OF THE TRUSTEES (CONTINUED)

for the year ended 31 August 2025

Five inclusive resource booklets have been developed into a box set which have been in the Chief Rabbi Magazine for schools and with other Jewish educators, highlighting the benefits of using these materials. Two schools have reached out to discuss ways to incorporate them into their curriculum and Chagim lessons. The school has also been involved with other schools, families, and some rabbis regarding how to make Bar and Bat Mitzvahs more inclusive and less stressful for neurodiverse families celebrating their simchas.

We continue to provide a range of training across the community, including two educational conferences and sessions for four religious and youth organisations. These initiatives aim to provide deeper insights into the triggers that may occur for neurodiverse individuals during formal and informal education and events. Participants will learn proactive strategies to ensure that lessons and activities are more inclusive, accessible, and engaging, along with techniques to support and calm individuals who may be dysregulated.

The school has coordinated with GIFT to implement a comprehensive approach to teaching and promoting Chesed (acts of kindness) throughout the years. This will include kindness initiatives and awards starting from Year 3 to Year 8, beginning next year.

Ofsted

In the last week of the Summer term, the school was inspected by Ofsted. We are thrilled to announce that for the third consecutive time, Gesher was rated as 'Outstanding' in every area! Inspectors highlighted that “pupils excel at this exceptional school,” acknowledging the highly personalised and holistic support we provide for our children and young people, and we couldn't be prouder of this feedback. This achievement stands as a testament to the dedication of our specialist teachers and therapists, the hard work of our students, as well as the invaluable relationships we foster with our parents and the wider community.

The report also highlights the significance of our Project-Based Learning approach, and how our: "ambitious curriculum expertly meets the varied needs of its pupils" . Importantly, the inspectors note how our projects: “offer real-world contexts and practical experiences, helping our students develop crucial language and communication skills”.

Site works

Over the Summer holidays the Charity completed Phase 4 of the internal building works which included the refurbishment of all the staff and student toilets and showers and other decorations, as well as the redevelopment of the 5 a side football pitch and the installation of a new all-weather multi-use games area. In the academic year 2025/26, the Charity is planning a new-build extension to house the Life Skills room and an additional learning space for our Post-16 transition support offer.

IT Security

We have a password policy with a minimum complexity requirement; we encrypt sensitive information; all internet and external access points to our network are secured by a firewall; we have malware/virus protection on all endpoints; we perform regular back-ups of sensitive information and critical data; our back-ups are encrypted; our data is stored in the cloud; we have regular mandatory training of employees and governors to increase IT security and data privacy awareness; we conduct regular employee phishing campaigns; we have implemented email filtering; we restrict the number of users with administrator or privileged access rights and not provide such access rights to general users; and we conduct regular (at least annual) penetration testing / vulnerability scanning across our entire technology estate to ensure that systems are configured to be secure.

Strategic Objectives

We agreed Gesher School’s Strategic Objectives for 2025-26:

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust REPORT OF THE TRUSTEES (CONTINUED)

for the year ended 31 August 2025

Government Policy Changes

The external policy environment is currently subject to a high degree of uncertainty, and in particular, those relating to the education sector. Likely reforms to the SEND system including EHCP’s and funding for high needs, together with the Government’s policy drive to keep more pupils in mainstream rather than Special settings provides a high degree of uncertainty and risk for the special school sector. This risk is being monitored closely by the Board of Governors and Trustees, and actions will be taken in response to policy announcements in order to mitigate this risk. Furthermore, as the school grows, we are looking at other sources of revenue generation.

Fundraising

Since opening in 2017, the Charity has received no statutory funding for creating the school and developing the site - just amazing donors. To date, the Charity has received donations through philanthropy, to deliver a three-time Ofsted ‘Outstanding’ all-through school that reimagines education for 120 children and young people who are differently able and who learn differently.

During the course of 2024/25, we had planned to run a Charity Extra Campaign to raise £450,000:

•To enable our specialist team to deliver outstanding education and therapeutic support, to ensure each child will reach their full potential; •To help us develop key learning spaces throughout the school to meet the growing needs of all our learners - places where confidence, capabilities and friendships can blossom; and

•To allow us to enrich our Life Skills Programme to equip students with the independence they need to succeed far beyond the classroom

The campaign actually took place on October 19th to 20th 2025 and we are delighted to report that we raised in excess of £600,000. This was assisted through securing match funding from several of our key donors.

Financial review

The financial performance of the Charity in 2024/25 resulted in a surplus of income over expenditure of £690,677.

The Charity’s operational activities have been funded by a combination of donations from benefactors and charitable institutions and from local authorities paying fees pursuant to Education, Health and Care Plans (‘’EHCP’’) as well as parents paying fees privately where EHCPs are not available or have not yet been granted.

At 31 Aug ’25, the Charity had a bank balance of £2,326,666 (2024: £1,598,157).

During 2022/23, the Charity purchased the freehold of the school site for £4million which was funded by donations and a £2,000,000 loan secured by a first mortgage over the school site and a debenture over the Charity from CAF Bank, repayable over 25 years, together with a second charge of £250,000 repayable over 3 years. As at 31 Aug ’25, the balances on these loans were £2,000,000 and £220,000 respectively.

Gesher Assessment Centre Limited

In 2022/23 the Charity formed a wholly owned subsidiary, Gesher Assessment Centre Limited (“GAC”) which is a new assessment and diagnosis centre offering children and young people who may have ADHD, Autism, and specific learning difficulties, a bespoke multi-disciplinary assessment, diagnosis, and report service. GAC has been funded predominantly by a grant from the Charity, and it operates independently of the Charity, and in the fullness of time will distribute surplus profits back to the Charity. Unfortunately, GAC did not deliver the expected financial outcomes and having then considered GAC’s forecasts and all the information available, the Charity decided that no further financial support should be made available to GAC. GAC eventually ceased trading at the end of August 2025.

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust

REPORT OF THE TRUSTEES (CONTINUED)

for the year ended 31 August 2025

Reserves Policy

The Board continues to give consideration to maintaining a policy of keeping a proportion of surplus cash as free reserves. The Trustees have opted to allow the value of free reserves to fall below 3 months’ expenditure as a result of committing funds to the capital expenditure on the purchase of the freehold of the school site and a continuing programme of building works adapting the building to the needs of the school. We will continually review our reserves policy in the event that funds are needed for the running of the school or for capital expenditure.

As at 31 August 2025, our total fund balance was £4,134,450 (2024: £3,443,773). £725,811 (2024: £718,998) of this total are restricted funds and not available for general purposes, as set out in Note 17. A further £3,049,614 (2024: £2,606,898) is held as designated funds which have been set aside out of unrestricted funds by the Trustees for specific purposes, as set out in Note 17, leaving free reserves of £359,025 (2024: £117,875).

Risks attached to achievements of objectives

The Board of Trustees have continued to undertake a formal risk management process and carried out an assessment of business risks from which they have implemented risk management strategies and compiled a risk register which is monitored and tracked by the Board of Governors. The Board of Trustees have not identified any other material factors likely to affect the financial performance of the school going forward.

Structure, governance and management

The Charity is a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association. The Trust was incorporated on the 8 September 2014. The Charity’s registration number as a charity is 1160465 and its company registration number is 09223197.

The Trustees who served during the year and up to the date of the financial statements were:

  1. Ali Durban

  2. Michael Kutner

  3. Sarah Sultman

  4. Howard Zetter

  5. Lee Portnoi

  6. Steven Daniels

Trustees are nominated and elected at meetings of the Board of Trustees. Newly elected Trustees are given information on the background of the Charity along with a description of their responsibilities as a Trustee. Five of the current six Trustees are currently or were previously Gesher School Governors and thus undertook Governor Induction Training. The remaining two Trustees are experienced and conversant in the role of a Trustee and Company Director and have not undertaken any formal training for this role.

The Board of Governors appointed by the Trustees to manage Gesher School (‘’the school’’) on their behalf during the 2024/25 year were:

  1. Ron Brown - Governor (Resigned on 18 Oct '25)

  2. Mark Cohen - Governor

  3. Steven Daniels - Governor

  4. Ali Durban - Governor

  5. Leandri Ferreira - Associate Governor (Resigned on 11 Apr '25)

  6. Bradley Hartstone - Parent Governor

  7. Paul Hodgkinson - Associate Governor (Resigned on 4 Jun '25)

  8. Jonathan Mindell - Governor

  9. Jane Rome - Governor

  10. Annabel Rose - Governor (Appointed on 12 Dec '24)

  11. Nigel Rose – Parent Governor (Resigned on 15 Apr '25)

  12. Graham Sherling - Associate Governor

  13. Per Simonsson - Governor

  14. Patricia Soyemi - Governor (Resigned on 3 Mar '25)

  15. David Summers - Associate Governor

  16. Kalliopi Vardava - Governor (Appointed on 20 Mar '25)

  17. Rama Venchard - Chair of Governors

  18. Tamaryn Yartu – Headteacher

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust REPORT OF THE TRUSTEES (CONTINUED)

for the year ended 31 August 2025

Day to day decisions in respect of the running were made by the Headteacher and those were monitored by the Board of Governors who devolved a number of its functions to the following committees:

  1. People

  2. Learning

  3. Infrastructure

  4. Pay

The Board of Governors met at least once a term and the committees met on an ad hoc basis but also at least once a term and fed information into the Board who ratified all decisions of the committees. These in turn were monitored by the Trustees.

Statement of Trustees' responsibilities

The Board of Trustees (who are also directors of the company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

· state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

· state whether a Statement of Recommended Practice (SORP) applies and has been followed, subject to any material

· make judgements and accounting estimates that are reasonable and prudent;

· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees’ report was approved by the Board of Trustees.

H Zetter

Date: 22/4/2026

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE GESHER TRUST for the year ended 31 August 2025

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

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

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

We have nothing to report in this regard.

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE GESHER TRUST for the year ended 31 August 2025

Opinions on other matters prescribed by the Companies Act 2006

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

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

· the trustees’ annual report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

· adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

· the financial statements are not in agreement with the accounting records and returns; or · certain disclosures of trustees’ remuneration specified by law are not made; or

· the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the trustees’ annual report and from preparing a strategic report.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 7, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE GESHER TRUST

for the year ended 31 August 2025

Auditor’s Responsibilities for the audit of the financial statements

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

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

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

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

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

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

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

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

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Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE GESHER TRUST

for the year ended 31 August 2025

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

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

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

Our approach was as follows:

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

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

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

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

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

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

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the 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 any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

James Saunders (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

Date : 30 April 2026

6th Floor 9 Appold Street London EC2A 2AP

Page 11

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust

STATEMENT OF FINANCIAL ACTIVITIES

(including the income and expenditure statement)

for the year ended 31 August 2025

Notes
INCOME FROM:
Charitable Activities
School fees
3
Other educational income
4
Investments
Investment Income
5
Voluntary sources
Grants and donations
6
Total income and endowments
EXPENDITURE ON:
Costs of raising funds
Fundraising and development
7
Interest and other costs
Charitable activities
Education
7
Total expenditure
7
Net operating income/(expenditure)
Net income/(expenditure)
Transfer between funds
Net movement in funds
Fund balances brought forward
Fund balances carried forward
16		 Unrestricted /
Designated
funds
£
3,084,383
24,099
30,470
301,570
3,440,522
64,164
145,418
3,073,715
3,283,297
157,225
157,225
526,639
683,864
2,724,775
3,408,639		 Restricted
funds
£
24,900
-
-
658,087
682,987
-
-
149,535
149,535
533,452
533,452
(526,639)
6,813
718,998
725,811		 Total
2025
£
3,109,283
24,099
30,470
959,657
4,123,509
64,164
145,418
3,223,250
3,432,832
690,677
690,677
-
690,677
3,443,773
4,134,450		 Total
2024
£
2,543,899
33,592
16,035
1,660,467
4,253,993
73,102
158,744
3,119,579
3,351,425
902,568
902,568
-
902,568
2,541,205
3,443,773

The statement of financial activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The accompanying notes form part of these financial statements.

Page 12

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust

BALANCE SHEET

as at 31 August 2025

Notes
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS: Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:Amounts falling due after more than one year
14
NET ASSETS
FUNDS
Called up Share Capital
16
Restricted funds
16
Unrestricted funds – general
16
Unrestricted funds - designated
16		 2025
£
5,269,614
5,269,614
416,906
2,326,666
2,743,572
(1,897,143)
846,429
6,116,043
(1,981,593)
4,134,450
-
725,811
359,025
3,049,614
4,134,450		 2024
£
4,826,898
4,826,898
909,704
1,598,157
2,507,861
(1,670,986)
836,875
5,663,773
(2,220,000)
3,443,773
-
718,998
117,877
2,606,898
3,443,773

22/4/2026

Approved and authorised for issue by the Board of Trustees on ........................................... and signed on their behalf by:

H Zetter Chairman of the Board of Trustees

The accompanying notes form part of these financial statements. Company Number: 09223197

Page 13

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust CASHFLOW STATEMENT

for the year ended 31 August 2025

CASH FLOW STATEMENT
Notes
Net cash inflow from operating activities
22
Cash flows from investing activities:
Bank interest received
Interest paid
Proceeds from sale of fixed assets
Payments to acquire fixed assets
Net cash outflow from investing activities
Financing:
Loans received
Loans repaid
Net cash outflow from financing activities
Increase/(decrease) in cash
beginning of the reporting period
end of the reporting period
Cash and cash equivalents at the
Cash and cash equivalents at the		 2025
£
1,403,521
30,470
(145,418)
-
(560,064)
(675,012)
-
-
-
728,509
1,598,157
2,326,666		 2024
£
1,558,323
16,035
(158,744)
-
(616,248)
(758,957)
-
-
-
799,366
798,791
1,598,157

Page 14

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

1 ACCOUNTING POLICIES The Gesher Trust is a company limited by guarantee with registered number 09223197, incorporated and domiciled in England and Wales. Its registered office is Gesher School, Cannon Lane, Pinner, HA5 1JF.

1.1 BASIS OF PREPARATION

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

These financial statements are prepared on the going concern basis, under the historical cost convention as modified by the revaluation of investments and in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. The principal accounting policies, which have been applied consistently throughout the year, are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2 GOING CONCERN

The Board of Trustees has a reasonable expectation that the Gesher Trust has adequate resources to continue in operational existence for the foreseeable future and have no material uncertainties. For this reason, Trustees feel that the use of the going concern basis of accounting in the preparation of the financial statements is appropriate. As such the School can expect to be able to meet its liabilities as they fall due in the period of at least 12 months from the date of approval of these accounts. However, there can be no certainty in relation to these matters.

On this basis the Trustees have concluded that the School is a going concern. The financial statements do not include any adjustments that would result from the School not being able to meet its liabilities as they fall due.

1.3 COMPANY LIMITED BY GUARANTEE The company is limited by guarantee. 1.4 FEES RECEIVABLE AND SIMILAR INCOME

Fees receivable are accounted for in the period in which the service is provided.

1.5 DONATIONS AND FUND ACCOUNTING Donations received for the general purposes of the school are included as unrestricted funds. Donations restricted by the wishes of the donor or the terms of an appeal are taken to restricted funds. Donations required to be retained as capital in accordance with the donor’s wishes are accounted for as endowments – permanent or expendable according to the nature of the restriction.

1.6 EXPENDITURE Expenditure is allocated to expense headings, which aggregate all costs relating to the category either on a direct cost basis, or apportioned according to time spent. The irrecoverable element of VAT is included with the item of expense to which it relates.

All costs associated with the provision of education are allocated to Charitable Expenditure. Only the costs directly associated with, or incurred solely in, Raising Funds are allocated to this category. For example, the costs of kitchen and domestic staff who are employed on a short term basis during the school holidays are allocated to the Cost of Raising Funds whereas the costs of the permanent staff are allocated to Charitable Expenditure because they would have to be paid in any event. Likewise, only premises costs that are incurred because of, or to support, the letting activities are allocated to the Costs of Raising Funds.

Governance costs comprise the costs of running the Trust, including strategic planning for its future development, external audit, and all other costs of complying with constitutional and statutory requirements.

1.7 TEACHING COSTS

Supplies of games equipment, books, stationery and sundry materials are written off when the expenditure is incurred.

1.8 FIXED ASSETS AND DEPRECIATION All fixed assets are used in direct furtherance of the school’s objectives. Fixed assets are included in these financial statements at their original cost less depreciation and accumulated impairment losses provided to date.

Assets that cost less than £2,500 are not capitalised and are written off in the year of purchase.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the costs less estimated residual value of each asset, by equal annual instalments, over their expected useful lives which are considered to be:

Freehold property - 100 years
Leasehold property - 5 years
Plant and machinery - 20 years
Fixtures and fittings - 4 years
Motor vehicles - 4 years
IT equipment - 3 years

1.10 PENSIONS The school pays contributions into a Group Personal Pension Scheme for Teaching and Support staff. The Schemes are defined contribution pension schemes. The assets of the Scheme are held separately from those of the School in an independently administered fund. The Pension Scheme charge represents contributions payable by the school in accordance with the rules of the Scheme.

Page 15

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

1.13 CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.14 FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. See notes 12 and 13 for the debtor and creditor notes.

1.15 TAXATION

The company is a registered charity and is exempt from taxation as afforded by Section 505 ICTA 1988.

1.16 EMPLOYEE BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense.

In the application of the company's accounting policies, the Board of Trustees is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In the opinion of the Board of Trustee's, the estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Critical judgements

Useful economic lives

The annual depreciation charge for property, plant and equipment is 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 technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 11 for the carrying amount of the property, plant and equipment and note 1.8 for the useful economic lives for each class of asset.

3 FEE INCOME
The School’s activities are carried out within the UK.
The school's fee income comprised:
Gross fees
TA contributions
0156
4 OTHER EDUCATIONAL INCOME
Extras and disbursements
Other income
5 INVESTMENT INCOME
Interest received
Included within the above is an amount of £24,900 (2024: £23,600) which relates to restricted income.		 2025
£
3,084,383
24,900
3,109,283
2025
£
23,299
800
24,099
2025
£
30,470
30,470		 2024
£
2,520,299
23,600
2,543,899
2024
£
21,372
12,220
33,592
2024
£
16,035
16,035

Page 16

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

6 DONATIONS AND GRANTS

2025
£
Donations and gifts
902,504
Guarding reclaims
0207
57,153
959,657
7 EXPENDITURE
(a) Costs of Raising Funds
Other
Depreciation
£
£
£
Marketing costs
52,625
11,539
-
Financing costs
-
145,418
-
Total Costs of Raising Funds
52,625
156,957
-
Charitable expenditure
Other
Depreciation
£
£
£
Teaching
2,130,605
73,710
-
Welfare
63,061
-
-
Premises and Estates
118,314
205,392
72,547
Administration
319,295
176,364
44,802
Governance
-
19,160
-
Total Charitable Expenditure
2,631,275
474,626
117,349
Total Expended
2,683,900
631,583
117,349
Costs of Raising Funds
Other
Depreciation
£
£
£
Marketing costs
47,644
25,458
-
Financing costs
-
158,744
-
Total Costs of Raising Funds
47,644
184,202
-
Charitable expenditure
Other
Depreciation
£
£
£
Teaching
1,924,110
65,477
-
Welfare
35,365
844
-
Premises and Estates
122,903
200,188
59,272
Administration
280,802
330,021
82,075
Governance
-
18,522
-
Total Charitable Expenditure
2,363,180
615,052
141,347
Total Expended
2,410,824
799,254
141,347
(b) Other Governance Costs include:
2025
£
Auditors' remuneration
- Audit Fees
17,457
- Other Auditors remuneration
-
Staff costs
(note 8)
Staff costs
(note 8)
Included within Staff Costs and Other Charitable Expenditure is an amount of £149,535 (2024: £142,603) relating to restricted expenditure.
Included within the above is an amount of £658,087 (2024: £1,376,112) which relates to restricted income.
Staff costs
(note 8)
Staff costs
(note 8)		 2024
£
1,603,314
57,153
1,660,467
Total
2025
£
64,164
145,418
209,582
Total
2025
£
2,204,315
63,061
396,253
540,461
19,160
3,223,250
3,432,832
Total
2024
£
73,102
158,744
231,846
Total
2024
£
1,989,587
36,209
382,363
692,898
18,522
3,119,579
3,351,425
2024
£
18,068
-

Page 17

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

(c) Administration Costs
Salaries
National Insurance
Pension Costs
Other Staff Costs
Staff Training
Other Staff Related Costs
Subscriptions
Staff travel
Operating Leases
IT support
Postage and stationery
Telephones
Marketing and advertising
Bad debts
Depreciation
Recruitment Costs
Legal and Professional Fees
Other Administration Costs
Bank charges and interest
8 STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
Other staff costs
Supply teachers
2008
The average monthly number of employees during the year was as follows:
The number of employees whose emoluments amounted to over £60,000 in the year was as follows:
£60,000 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000		 2025
£
208,448
29,695
12,366
24,900
15,158
28,728
14,215
156
1,724
30,996
4,610
2,008
21,519
66,212
44,802
14,502
17,994
1,123
1,305
540,461
2025
£
2,181,308
228,168
142,360
80,424
51,640
2,683,900
2025
No.
60
2025
No.
2
2
-
1
5		 2024
£
182,448
25,418
8,618
1,277
36,704
26,337
10,598
2,588
3,784
34,374
4,876
861
17,197
156,637
82,075
55,803
36,481
5,431
1,391
692,898
2024
£
1,813,132
179,608
114,480
89,986
213,618
2,410,824
2024
No.
53
2024
No.
2
-
1
-
3

Pension contributions for the year amounted to £23,754 (2024: £14,121) for these employees.

9 TRUSTEES AND GOVERNORS REMUNERATION AND BENEFITS

There were no Trustees' or Governors' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.

Travel and subsistence expenses of £1,703 (2024: £454) for 1 trustee/governor were paid by the charity during the year.

Key management personnel includes the headteacher only. The total pay and benefits received by key management personnel were £103,791 (2024: £152,429).

10 NET INCOME FOR THE YEAR

NET INCOME FOR THE YEAR
2025 2024
£ £
Net income is stated after charging:
Depreciation of tangible fixed assets 117,349 141,347
Loan Interest 145,418 158,744
Operating lease rentals – other 1,724 3,784

Page 18

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

11 TANGIBLE FIXED ASSETS

Freehold
Freehold
Property
Property
£
£
Cost:
At 1 September 2024
4,617,603
Additions
526,639
At 31 August 2025
-
5,144,242
Depreciation:
At 1 September 2024
52,187
Charge for year
38,751
At 31 August 2025
-
90,938
Net book value:
At 31 August 2025
-
5,053,304
At 1 September 2024
-
4,565,416
12 DEBTORS
Fees and extras
Prepayments and accrued income
13 CREDITORS
Amounts falling due within one year:
Bank and other loans
Trade creditors
Taxation and social security costs
Fees in advance
Other creditors
Accruals
Deferred income:
Brought forwards
Released in year
Received in year
Carried forwards		 Fixtures
&
Fittings
£
102,446
3,137
105,583
50,288
26,257
76,545
29,038
52,158		 Plant
&
Equipment
£
146,741
7,710
154,451
11,141
7,539
18,680
135,771
135,600		 IT
Equipment
£
238,972
22,578
261,550
176,071
35,524
211,595
49,955
62,901		 Motor
Vehicles
£
72,208
-
72,208
61,385
9,277
70,662
1,546
10,823
2025
£
383,933
32,973
416,906
2025
£
238,407
23,129
188,367
1,104,691
22,899
319,650
1,897,143
2025
£
984,987
(984,987)
1,104,691
1,104,691		 Total
£
5,177,970
560,064
5,738,034
351,072
117,348
468,420
5,269,614
4,826,898
2024
£
876,429
33,275
909,704
2024
£
-
352,132
55,948
984,987
19,300
258,619
1,670,986
2024
£
738,852
(738,852)
984,987
984,987

Deferred income relates to schools fees received in advance for the following term.

Page 19

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

14 CREDITORS DUE AFTER ONE YEAR

Amounts falling due after more than one year:
Bank loan
Other Loan
Movement on loans
Between one and two years
Between two and five years
After five years		 2025
£
1,981,593
-
1,981,593
2025
£
37,647
131,449
1,812,497
1,981,593		 2024
£
2,000,000
220,000
2,220,000
2024
£
238,407
121,737
1,859,856
2,220,000

During 2023 the Trust obtained a mortgage loan of £2,000,000 from CAF Bank PLC. Interest is payable on this loan at the greater of 2.7% and the Bank of England base rate plus 2.7%. The loan is repayable by February 2048. It is secured by a charge over the property.

During 2023 the Trust obtained a mortgage loan of £250,000 from one of the trustees of the school. No interest is payable on this loan. The loan is due to be repaid in February 2026, and is included within short term creditors. It is secured by a second charge over the property.

15 FINANCIAL INSTRUMENTS

Carrying amount of financial assets
Measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
STATEMENT OF FUNDS
Gains/
(losses)
£
Unrestricted funds:
General reserve
-
Designated fund:
Fixed asset fund
-
Core fundraising campaign
Total designated
402,496
Restricted funds:
Security grant
-
Teaching assistant claim
-
Building capital works
-
Staffing contributions
Other small funds
Total restricted
(526,639)
Total funds
(124,143)		 £
117,877
2,606,898
2,606,898
-
-
715,372
-
3,626
718,998
3,443,773
At 1 September
2024		 Income
£
3,260,804
-
179,718
179,718
57,153
24,900
538,861
45,000
17,073
682,987
4,123,509		 Expenditure
£
(3,143,799)
(117,349)
(22,149)
(139,498)
(57,153)
(24,900)
(3,818)
(45,000)
(18,664)
(149,535)
(3,432,832)		 2025
£
383,933
234,395
Transfer
Between
Funds
£
124,143
560,065
(157,569)
402,496
-
-
(526,639)
-
-
(526,639)
-		 2024
£
876,429
427,380
£
359,025
3,049,614
-
3,049,614
-
-
723,776
-
2,035
725,811
4,134,450
At 31 August
2025

16 STATEMENT OF FUNDS

Page 20

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

Gains/
Unrestricted funds:
General reserve
Designated fund:
Fixed asset fund
Total designated
Restricted funds:
Learning materials & resources
Security grant
Teaching assistant claim
Staffing contributions
Building capital works
Other small funds
Total restricted
-
Total funds
-		 £
154,347
2,131,997
2,131,997
901
-
-
-
250,000
3,960
254,861
2,541,205
At 1 September
2023		 Income
£
2,854,281
-
-
-
57,153
23,600
50,000
1,262,499
6,460
1,399,712
4,253,993		 Expenditure
£
(3,067,475)
(141,347)
(141,347)
(901)
(57,153)
(23,600)
(50,000)
(4,155)
(6,794)
(142,603)
(3,351,425)		 Transfer
Between
Funds
£
176,724
616,248
616,248
-
-
-
-
(792,972)
-
(792,972)
-		 £
117,877
2,606,898
2,606,898
-
-
-
-
715,372
3,626
718,998
3,443,773
At 31 August
2024

Designated funds

The fixed asset fund represents the net book value of tangible fixed assets less any loans outstanding on these assets. The Trustees wanted to show the assets that are not readily available in a separate fund.

The core fundraising campaign reflects the funds raised through this specific initiative, which are used to support the school’s general operating costs and capital projects.

Restricted funds

Learning materials and resources represents a fund for curriculum resources.

Security grants are funds reclaimed from CST for security of the school grounds.

Teaching assistant claims are funds claimed from parents to cover the costs of additional teaching assistants required by the students during the year.

Building capital works are funds towards the improvements required at the school.

Staffing contributions are funds received towards therapist salaries in the year.

Transfers in the year are made up of a transfer of restricted capital expenditure into the designated fixed asset fund.

Page 21

Docusign Envelope ID: E8BA4A47-742A-4E8F-B213-2FE04AC25748

The Gesher Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

17 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Endowment
fund
£
Tangible fixed assets
-
Current assets
-
Current liabilities
-
Long term liabilities
-
Total net assets
-
Endowment
fund
£
Tangible fixed assets
-
Current assets
-
Current liabilities
-
Long term liabilities
-
Total net assets
-		 Unrestricted
funds
£
-
2,017,761
(1,658,736)
-
359,025
Unrestricted
funds
£
-
1,788,863
(1,670,986)
-
117,877		 Designated
funds
£
5,269,614
-
(238,407)
(1,981,593)
3,049,614
Designated
funds
£
4,826,898
-
-
(2,220,000)
2,606,898		 Restricted
funds
£
-
725,811
-
-
725,811
Restricted
funds
£
-
718,998
-
-
718,998		 2025
Total
£
5,269,614
2,743,572
(1,897,143)
(1,981,593)
4,134,450
2024
Total
£
4,826,898
2,507,861
(1,670,986)
(2,220,000)
3,443,773

18 COMMITMENTS UNDER OPERATING LEASES

At 31 August 2025, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
Land &
Land &
Buildings
Buildings
Due within one year
-
-
Due between two and five years
-
-
-
-		 2025
Office
equipment
558
-
558		 2024
Office
equipment
744
558
1,302

19 RELATED PARTIES

During 2023, one trustee advanced a loan to the charity of £250,000. As at 31 August 2025, the balance due on the loan was £220,000 (2024: £220,000). This loan is repayable by February 2026 and is interest free.

20 SUBSIDIARY

The Trust has control over its subsidiary, The Gesher Assessment Centre, by virtue of its trustees holding the full share capital of the company in trust for the Gesher Trust. Each of the six trustees holds one share of the Gesher Assessment Centre. The company is registered in England & Wales number 14370772 and provides assessments to young people with SEND. Its taxable profits and distributed under the rules of the gift aid regime to the school subject to the working capital requirements of the company. The Gesher Assessment Centre ceased trading on 23 August 2025.

21 CAPITAL COMMITMENTS

At 31 August 2025, the company had capital commitments totalling £522,000 (2024: £31,706) in respect of capital building works at the school site.

22 NOTES TO THE CASHFLOW STATEMENT

Reconciliation of operating result to net cash inflow from
operating activities
Net movement in funds
Depreciation
Bank interest received
Interest payable
Increase/(Decrease) in creditors
(Increase)/Decrease in debtors		 2025
£
690,677
117,348
(30,470)
145,418
(12,250)
492,798
1,403,521		 2024
£
902,568
141,347
(16,035)
158,744
817,609
(445,910)
1,558,323

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