2025-08-31-accounts

WELLINGTON SCHOOL 1837

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

REGISTERED CHARITY

NO. 1161447

REGISTERED COMPANY

NO. 09316033

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2025

CONTENTS

	Page
Governors, Officers and Advisers	3-4
Governors’ Report (including Strategic Report)	5-31
Statement of Governors’ Responsibilities	32
Report of the Independent Auditor to the Governors	33-36
Consolidated Statement of Financial Activities	37
Consolidated and Charity Balance Sheets	38
Consolidated Statement of Cash Flows	39
Statement of Accounting Policies	40-43
Notes to the Financial Statements	44-63

WELLINGTON SCHOOL 1837

GOVERNORS, OFFICERS AND ADVISERS

FOR THE YEAR ENDED 31 AUGUST 2025

GOVERNORS

The Governors of Wellington School 1837, “The Charity” or “The School”, who are also the charity trustees under charity law and the directors of the charitable company, and who served during the year and up to the date of signing the accounts were as follows:

Ms A Govey BSc, MSc - Chair Mr R Palfrey MA, PGC – Vice Chair Mr R G Harding CBE Mr J Vick BA (Hons), PGCE, MA Mrs S Page BSc Mrs S Merry BSc, RGN Mr M W Rowe BSc (Hons) Mr D J S James Meng Ceng MIMechE MBA Mr K A F Wheatley LLB, PGCE. NCTJ Mrs H Grant Bed Mr C Reah PCIAM, BSc * Mr G Mitchell ACIB *

• Members of the Finance Sub-Committee.

OFFICERS

The Headmaster A Battison MA, MBA (appointed 01 September 2024) Deputy Head (Academic) H Barker BA (Hons) PhD, PGCE Deputy Head (Pastoral) A Kemp BSc, PGCE (Resigned 31 August 2025) Deputy Head (Co-Curricular) N Renyard BA (Hons), MSC, PGCE Head of the Prep School V Richardson BSc, PGCE Director of Finance F Taylor ACMA, CGMA Director of Development R Debenham BA FCIPD Director of Human Resources E Weiss BA (Hons), MCIPD Director of Operations J Talling MRICS, FAAV (Resigned 31 August 2025) Clerk to the Governors S Tier LLB Hons, PG Dip

REGISTERED OFFICE AND PRINCIPAL ADDRESS

Wellington School South Street Wellington Somerset TA21 8NT

The day to day running of the School is delegated to the Headmaster.

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WELLINGTON SCHOOL 1837

GOVERNORS, OFFICERS AND ADVISERS

FOR THE YEAR ENDED 31 AUGUST 2025

ADVISERS

Bankers

Solicitors

Independent Auditor

Insurance brokers

Lloyds Bank plc 10 Canons Way Harbourside Bristol Somerset BS1 5LF Porter Dodson 15 High Street Wellington Somerset TA21 8QR Stone King LLP Upper Borough Court (UBC) Upper Borough Walls Bath BA1 2HJ Crowe U.K. LLP 4[th] Floor, St James House St James’ Square Cheltenham Gloucestershire GL50 3PR Endsleigh Insurance Services Limited Quadrangle Imperial Square Cheltenham GL50 1PZ

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GOVERNORS’ REPORT

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2025

REFERENCE AND ADMINISTRATIVE INFORMATION

Wellington School is a company limited by guarantee (number 09316033) registered in England and Wales, and is a registered educational charity with the Charity Commission (number 1161447). The Governors, officers and advisers of the charity are set out on pages 3 and 4.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

All the undertakings of the School were transferred across to a new company, Wellington School 1837, on 1 September 2015, with the exception of the endowed properties; these will continue to be held in the old trust (Wellington School). A ‘Uniting Order’ was obtained from the Charity Commission removing the need to prepare separate accounts for both the company and the trust in the future. The new company became a Corporate Trustee of the old trust on 1 September 2015 and the company is governed by Articles of Association as amended on 22 August 2018 and 21 June 2024.

Governing Board

The Governing Board consists, when complete, of up to sixteen persons, being seven nominated Governors and nine co-opted Governors. Governors can serve for two consecutive periods of five years.

The nominated Governors are appointed as follows: One by Wellington Town Council One (not being staff at the School) by the staff of the School.

Recruitment and Training of Governors

The Governing Body looks for diversity of knowledge and experience in recruiting Governors and seeks to create a body in which gender, race, religion and the social and economic groupings in society are properly represented. The Governing Body requires breadth and depth of experience to carry out its duties effectively and efficiently and in addition, consideration is given on recruitment to the passion for the work of our School and an understanding of education as a holistic and rounded experience of personal growth. New Governors are required to visit the School for a conducted tour and a structured induction. In addition to in-house briefings Governors are encouraged to attend outside seminars on matters relevant to their duties and responsibilities.

Organisational Management

The Wellington School Governors, as company directors and trustees of the Charity, are legally responsible for the overall management and control of the School. They meet four times a year. The work of implementing most of their policies is carried out through committees of which the Finance Committee is principal. Financial control is exercised over the activities of the School by means of an agreed annual budget. The other committees are the Academic Committee, External Relations Committee, Operations Committee, Pastoral and Co-Curricular Committee and the Governance Committee. All committees meet three times per year, and can meet more frequently if required to do so. Other committees and working parties are formed to meet specific requirements of the Governing Body.

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WELLINGTON SCHOOL 1837

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Organisational Management (continued)

The day to day running of the School is delegated to the Headmaster; the Head of the Prep School is responsible to the Headmaster for the day to day running of the Prep School. The Headmaster and Head of the Prep School attend meetings of the Governors and Committees. Members of the Leadership Team attend the committee meetings relevant to their area of responsibility.

Key Management Personnel

The Governors, together with the Headmaster, Deputy Head (Pastoral), Deputy Head (Academic), Deputy Head (Co-Curricular), Head of Prep School, Director of Development, Director of Finance, Director of Human Resources and Director of Operations constitute the School’s Executive body. The Governors give of their time freely and the pay and remuneration of the Headmaster is set by the Full Governing Body and is kept under annual review. A number of criteria are used in setting pay:

• Nature of the role and responsibilities

• Competitor salaries in the region

• The sector average salary for comparable positions in relation to size and type of school

• Trends in pay

• Annual performance and appraisal reviews.

Relationships with other Organisations

Wellington School actively supports the attainment of the highest standards in education and holistic development of its pupils through membership of the Association of Governing Bodies of Independent Schools (AGBIS), the Headmaster’s membership of The Heads’ Conference (HMC), the Head of Prep’s membership of the Independent Association of Prep Schools (IAPS) and the Director of Finance’s membership of the Independent Schools Bursars Association (ISBA). In addition, these standards are achieved by networking with other schools in the independent and maintained sectors ensuring staff are professionally developed and evaluated for quality and performance. Membership of HMC and ISBA also permits appropriate representation to government and regulators of the views of the sector.

The School also works closely with other charities and public organisations to develop social awareness in our pupils and widen public access to the schooling and facilities available. Wellington School also benefits from a thriving network of past pupils and other supporters through the Old Wellingtonians’ Association and Friends of Wellington School CIO. As the second largest employer in the town, there are few families in Wellington who do not have a connection with the School.

Employment Policy

The School is an equal opportunities employer. Full and fair consideration is given to job applications from disabled persons and due consideration is given to their training and employment needs. Consultation with employees, or their representatives, has continued at all levels with the aim of taking the views of employees into account when decisions are made that are likely to affect their interests.

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Employment Policy (continued)

Communication with employees continues through normal management channels in a variety of forms, including the Headmaster’s Advisory Group and Wellington School Works Council, and also through exceptional channels to appraise staff of current issues. The School continues to submit annual Gender Pay Gap Reports to the Government Equalities Office.

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

Charitable Objects

The Charity’s Objects, as set out in its Articles of Association, are ‘the provision and conduct, in or near Wellington, of a day or day and boarding school for boys’ and girls’.

Aims and Intended Impact

Within these Objects, the aim of the School is to provide education in a supportive, caring and appropriately disciplined environment. Within this environment pupils are encouraged to develop independence of thought, self-motivation, respect, high standards of behaviour and consideration for others. They are expected to work hard and to make the most of their talents by participating fully in the curricular and co-curricular life of the School and by contributing both to the Wellington School and wider community.

The School’s educational philosophy rests on three pillars: building outstanding relationships, the pursuit of excellence and a love of learning. These three pillars confirm our ‘process orientation’. We have high expectations of our children and we proudly celebrate their many remarkable achievements. However, we do not focus on outcomes as an end in themselves. Rather, we concentrate on getting our processes right and believe that optimal outcomes will follow. This removes the weight of institutional pressure and expectation from children and replaces it with an environment in which children can grow and develop in an affirming and nurturing environment.

The objectives for the School were set having considered the Charity Commission’s general guidance on public benefit and in particular its supplementary guidance on advancing education and on fee setting. The Governors and Officers of Wellington School view the awarding of scholarships and bursaries as an important public benefit in helping to ensure that children from families who would not otherwise be able to afford the fees can access the education being offered. Further details on other public benefit provided by the Charity can be found on page 11. The Governors and Officers take the public benefit guidance into account in planning activities during the year.

The key objectives for the year included:

• Supporting the wellbeing of pupils and staff.

• Continuing the development of pupils’ independent learning skills and giving pupils the opportunity to consciously reflect on the wider skills they are developing as they engage in curricular and co-curricular activities.

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Aims and Intended Impact (continued)

• Reviewing the use of IT in the classroom to ensure that our provision is appropriately supportive of our pupils’ learning.

• Ensuring sufficient capital investment across the School’s campus.

• Ensuring that the School’s taught curriculum recognises that extensive and valuable contributions made by women, and members of the black, Asian and minority ethnic (BAME) and LGBTQ+ communities.

• Providing parents with more opportunities to socialise and establish relationships through school activities.

• To create and launch a new fundraising strategy for bursaries and a capital project.

Strategies to Achieve the Year’s Objectives

The Governors’ strategy for achieving the objectives is focused on maintaining and improving on the School’s academic curriculum, teaching practices and achievement in public examinations through review and benchmarking to ensure that they are meeting the needs of further education and employment for our pupils. The Governors are mindful of the need to widen access to the School and welcome pupils from all backgrounds. To achieve this strategy the Governors and Officers:

• Provide a process for continual improvement of the curriculum to meet changing educational demands whilst establishing consistency and progression within and across grade levels and subjects.

• Continue to improve the School’s facilities through increased investment in technology and development of classrooms, workshops, learning and social spaces, and day and boarding facilities.

• Continue to develop and enhance co-curricular activities to ensure our pupils are stimulated and challenged.

• Continue to invest in the wellbeing of pupils of staff and continue to undertake surveys to ensure the investment is targeted where needed.

• Continue to review and develop the School’s scholarship and bursary structure to widen access to pupils from all backgrounds.

• Continue to resource appropriately the Marketing, Admissions and Development offices in a way that will best serve the School into the future.

• Continue to support The Friends of Wellington School in running social events.

Principal Activities, Achievements and Performance of the Year

The School continues to develop its already high standards of teaching and learning by providing opportunities for teaching staff to reflect on their pedagogy and share best practice. There is a continued and strong commitment to focusing on delivering excellent teaching, with a particular focus on supporting students to become effective independent learners. Furthermore, 2024-2025 has seen the School community starting to imagine how the school can continue to review and develop its educational offering in the future.

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GOVERNORS’ REPORT

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Principal Activities, Achievements and Performance of the Year (Continued)

INSET training at the start of the academic year focused on practical ways to integrate the School’s ‘Outstanding Relationships’ and ‘Independent Learner’ frameworks into daily practice, as well as a session focused on Positive Psychology in the School Setting.

Spring term INSET focused on teaching and learning, with a staff participating in an Educational Futures Workshop. Summer term INSET training developed this theme further, with a session entitled ‘Creating the Future’. This was followed by a number of different working parties meeting during the summer term to develop ideas for ‘Project 2028’ further.

The School has developed four actionable principles for the future of education: Embrace complexity; Spark connections; Lead together; Act today. These four principles will increasingly be used as the lens to design and evolve educational experiences at Wellington in the future.

The School has been awarded Gold CyberFirst School status and has developed a new Digital Literacy course, which will start with Year 7 pupils in September 2025. A second course focused on developing pupils’ study and research skills through project and enquiry-based learning has also been created.

Departmental self-evaluation forms and development plans have been updated to align closely to the ISI 2023 Framework. The Head and Deputy Head (Academic) review these documents and discuss their content with Heads of Department at the start of each academic year.

Co-curricular activities continue to flourish, constructed around five core elements: Sport, Music, Drama, Outdoor Education (including The Duke of Edinburgh Award scheme at Bronze, Silver and Gold) and the Combined Cadet Force (CCF). A wide range of enrichment clubs, from Chess to Debating and Politics to Conservation, enhance provision further. The Co-Curricular ‘Directory’ lists over 170 activities that pupils can participate in outside of the classroom. The Norman Cup House competition continues to be very successful in developing House spirit and promoting a breadth of participation. The relatively new House structure, introduced in 2023, sees six houses across the school from Nursery to Year 13. The Prep School compete for their House trophy and the senior schoolhouses compete for the Norman Cup. In 2024-5, Houses participated in over 220 events during the academic year.

The Drama department continues to thrive. LAMDA tuition has never been more popular with over 270 entries into examinations over the past academic year. The department have been pleased with a 100% pass rate, with 85% of entrants being awarded a Distinction. Performances this year have included Charlie and the Chocolate Factory, the Sponge Bob Musical and Midsummer’s Night Dream. The performance opportunities have been accessible for all the pupils, either in acting or supporting roles.

The Stage School and The Dance School has been met with great enthusiasm in the School and the wider community. We currently have 60 students signed up to take ballet or modern dance classes and over 55 students signed up for the Saturday morning Stage School. The growth of our performing arts is one of the great success stories of the last few years. We have a number of pupils performing at the highest level in film, TV and Bristol theatres.

The Director of Sport and Physical Health continues with his involvement in partnership programmes with feeder schools in both the maintained and independent sectors, promoting an increased level of

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Principal Activities, Achievements and Performance of the Year (continued)

physical literacy into their PE offer; links with local cricket and rugby clubs has enabled the School to widen access to sporting excellence. The school also hosts ‘parents’ clubs’ in many sports, including rugby, hockey, netball, football and cricket.

The Chapel Choir continued to rehearse and enjoyed performances throughout the school year. Three excellent carol services in the School Chapel, with additional Compline and Evensong services through the year. Trips to the churches at Culmstock and Wiveliscombe have been well-supported by local communities and the parents of choristers. There have also been trips to sing in Salisbury cathedral and Tewkesbury. Our community choir and community orchestra, joined members of the School (318) to perform at the Summer Proms Concert.

The Wellington Young Musician programme was launched back in 2020, with competitors in three different experience classes competing for a range of prizes. This initiative ensures a vibrant approach to instrumental learning, as the School campaigns to promote participation in a wide range of instruments.

Physical activity and leadership experience via the CCF (Combined Cadet Force) and Outdoor Education programmes continues to have a significant impact. The CCF have a close partnership with the Wellington Town ACF (Army Cadet Force) providing range-qualified instructors to allow cadets from the community to participate more fully in their activities. Our Corps of Drums plays an important role in the town’s Remembrance Day activities, The Wellington Carnival and the St George’s Day Parade in Taunton.

Approximately 290 cadets make up the three sections, Army, Royal Navy and Royal Air Force. From summer 2025 we will welcome Year 9 pupils into the CCF. In January 2026 we will officially start a Royal Marines Troop.

Outdoor Education has grown in range and quality, with more than 110 students taking part in the Duke of Edinburgh Award Scheme, expeditions, camping or walking up Snowdon embedded in years 7 to 9 as an expectation for all pupils, and the Ten Tors challenge in addition to overseas expeditions forming a core part of the opportunities available for older students. This year we entered three teams into the Ten Tors challenge: one team from year 10 (35-mile route), one team from year 12 (45-mile route) and for the first time in 20 years, one team from year 12 in the 55-mile challenge.

Volunteers

The School is indebted to the many volunteers who give up much of their time to assist with activities or to raise funds to help improve the facilities. In particular, the Governors would like to take this opportunity to thank The Wellington School Foundation, the Old Wellingtonians’ Association, the CCF volunteers, and the Friends of Wellington School for their considerable hard work in developing the school community. Their help is invaluable in providing the extras that improve the quality of life and enhance learning for our pupils.

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PUBLIC BENEFIT

Bursaries

The Governors and Officers of Wellington School view the awarding of scholarships and bursaries as important in helping to ensure that children from families who would not otherwise be able to afford the fees can access the education being offered. Following the discontinuation of the Government’s Assisted Places Scheme, the Governors immediately introduced an Academic Grant scheme which, partly funded by current parents and ex-pupils and supporters, allowed the School to continue with the wide access to Wellington that we are known for and which has given so much to the ethos of the School. From September 2010 the maximum means tested academic grant was increased from 66% to 120% of full fees to allow qualifying recipients to be free of tuition fees as well as additional assistance to cover ancillary costs such as meals, travel, educational visits and trips. The Academic Grant system has now been replaced by a bursary system and the Governors view our bursary awards as important in helping to ensure children from families who would otherwise not be able to afford the fees can access a Wellington School education. The awards are made available to all who meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil’s education and future prospects would otherwise be at risk for example in the case of redundancy.

This year the value of scholarships, bursaries, grants, prizes and other awards made to the School’s pupils once again exceeded 14% of total fee income. In addition, and as part of our emphasis on attracting and retaining high calibre staff, we offer a discount scheme where staff members choose to

educate their children at Wellington School. A substantial legacy donation to The Wellington School Foundation and the generous gift from a former pupil has allowed for one full boarding and one full day place to be provided out of Foundation income from September 2010. Scholarships are awarded at 11+, 13+ and 16+ and are awarded for academic, sporting, artistic, musical and dramatic performance.

The Wellington School Foundation supports a number of pupils at the School with some bursaries available at 100% of fees.

Access Policy

Children benefit from learning within a diverse community and with pupils from all social and ethnic backgrounds. Consequently, the Governors are adamant that access to a Wellington School education is not restricted to those who can afford the fees. The policies for scholarships and bursaries continue to be developed to support this aim. With help from The Wellington School Foundation, the School has been pleased to be able to widen access and support young people whose financial circumstances would not otherwise allow them a Wellington School education.

Admission to Wellington School depends upon a prospective pupil meeting the criteria required to maintain and, if possible, improve the educational and general standards for all its pupils, commensurate with the School’s ethos and aims. The School must also be confident that it will be able to educate and develop the prospective pupil to the best of his or her potential and in line with the general standards achieved by the pupil’s peers. Entrance assessments and interviews are

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Access Policy (Continued)

undertaken to satisfy the School and parents that potential pupils can cope with the pace of learning and benefit from the education provided. An individual’s economic status, gender, race, ethnicity, sexual orientation, religious beliefs, and in most cases disability, do not form part of this selection process.

We are proud to have been shortlisted for many awards across the School;

2024-25

• Winner – BSA – Best Community Work

• Finalist – BSA – Sustainability

• Highly Commended – Muddy Stilettos – Giving Something Back

• Highly Commended – Muddy Stilettos – Dynamic Performing Arts

• Shortlisted – Independent Schools of the Year – Student Careers

• Woodland Trust – Gold Award

• Green Tree School – Platinum Award

• Cyber First – Gold Award

• Winner – Oppidan Mentoring Awards

• Finalist – Education Choices – Working with Local Charities

• Finalist – Education Choices – Supporting Sustainability

Community activities

Wellington School has been part of the Wellington community since 1837 and we take great pride in playing a full and active role in the life of the town and the wider local area.

The community beyond our gates is an integral part of the identity of Wellington School and we are deeply committed to supporting it to the very best of our ability. Whether in the form of bursaries, sharing our facilities, community service or hosting joint learning and events, Wellington School seeks to support families, schools and partners in many varied ways.

At the heart of all our partnerships lies an unshakable belief in the importance of building outstanding relationships and these relationships are based on values such as kindness, empathy, inclusivity, equality and community.

Charity Support

Wellington School pupils are regularly involved in fundraising activities, raising money for local, national and international charities. We have Charity Captains, who work with Houses and individual groups to shape events and raise funds.

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Community activities (continued)

Each year the students bid for their favourite charities to support – there is always a local, national and international charity. The Senior School charities for 2024-5 were Why – We Hear You, Mind and Edukid. The Prep School selected The Cinnamon Trust and The Brain Tumour Charity.

We focus our fundraising efforts in order to build up strong links between the school and a charity over the course of a year, enabling our children to learn more about how and where their fundraising is spent and also to prevent ‘charity fatigue’.

Prep School – Funds raised for charity over £10,000 annually Senior School – Funds raised for charity over £12,000 annually

In addition, we also support many local initiatives and work to provide support for our local community. This takes the form of donations, practical assistance and financial assistance.

Fundraising for Edukid

One of our primary school charities for the next decade is Edukid – driven by a simple yet powerful belief: every child deserves the chance to go to school. Education is more than just a right—it’s the key to breaking the cycle of poverty and building a brighter future.

Across projects in Uganda, Cambodia, and Peru, they work tirelessly to be a platform for hope, equal rights, opportunity and inclusive education for all the children they support.

Wellington School is working with the Edukid vision on their Global Citizenship programme and is supporting the project in Uganda.

A group of Sixth Form students travelled to a township in Gulu, Uganda to see for themselves the impact we can have and were engaged in many aid activities.

Upper Sixth Students, Fin, Freddie, and Will completed a 15,000ft tandem skydive at Dunkeswell Aerodrome, to raise money for school charity Edukid.org.uk – Education for a Brighter Future Together they raised over £4,000 in sponsorship and this will go towards supporting the township in Gulu, Uganda. Our Sixth Form students hosted a silent disco along with an evening of great food and lively entertainment to raise funds for Edukid.

Feeding Communities

We are dedicated to supporting the charity Feeding Communities which gives carers a month’s worth of Friday night meals for them and their family so they can have some respite from cooking.

The Big Cook Challenge

The school community – students, parents and staff, took part in, The ‘Big Cook Challenge’. They all joined together to set a new GUINNESS WORLD RECORDS™ title for the most ready-made meals prepared in 24 hours! Over 100,000 meals were prepared by an army of volunteers spearheaded by our fabulous caterers Thomas Franks at Somerset County Cricket Club.

The meals were sent to local charities, showing how we can all come together to reduce food waste and fight food poverty!

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Community activities (continued)

Alex Kemp, Deputy Head at Wellington School, said: “We loved the record-breaking aspirations of this project and the opportunity for our students to learn about reducing food waste and supporting communities. The challenge also highlights the positive impact young people can make to wider society. The volunteering opportunity was identified and promoted in school by our amazing Student Leaders, and everyone involved gained valuable hands-on experience about the importance of social responsibility.”

Students created a video to encourage the community to take part in this initiative – watch it HERE Big Cook Ad

We also raised money to buy a community freezer which is located in school, which is filled with homemade meals for members of the community to access should they need a good meal throughout the year.

Taunton Food Bank

We are delighted to have been able to donate over 550kgs of food to Taunton Foodbank from our Harvest Festival. We are so proud of the generosity of our community that allows us to support those in difficult circumstances. Through our Harvest Appeal to all members of the Wellington School Community, we were able to deliver a huge amount of food to donate to the local community.

The Great Christmas Hamper competition for the Pantry Project

We have been delighted to support the excellent local Wellington Pantry Project to assist members of the community at Christmas. Tutor groups, colleagues and families got together to create a mountain of luxurious Christmas hampers which were presented to the trustee of The Wellington Pantry Project. The Wellington Pantry charity provides for people long term (food banks tend to be crisis only, and people get referred to them) so their members are generally those people who are chronically unable to afford food for themselves and their families over a long period of time.

Charity Days

We hold frequent charity days with endless activities, which raise over £2K for our school charities. With a huge array of activities from hand-decorated mugs, delicious cupcakes, brownies and epic hot chocolates, raffle, pick’n’mix sweets and musical entertainment.

A “firing squad” of brave volunteer teachers, including Headmaster Mr du Toit were pelted with wet sponges and soaked by the hose – very noble!

Our community is so generous and we are thrilled to have raised so much – thank you to parents, staff and students for joining in with the fun of the day and for donating so generously.

Swimathon

Each Year, all our Prep School children take part in the exciting Swimathon – to raise money for school charities. Parents and staff swim from 6am and have a very welcome bacon bap when they emerge. The target is over 6,000 lengths and the Head and Head of the Prep School traditionally make a special splash as they swim a bonus length!

Over £6,000 is raised through this.

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Community activities (continued)

Concerts and Charity Events

Our renowned Chapel Choir regularly travel around the country performing to raise money for charities and support local communities. Recent trips have included a wonderful Carol Service with Age UK Somerset at the magnificent Wells Cathedral, Evensong at Salisbury Cathedral, Truro Cathedral and Tewksbury Abbey.

Music Award holders also regularly perform for local care homes and residential homes.

Mullets off for Charity

Two Sixth Formers chopped off their much maligned and beloved mullets to raise funds for Macmillan Cancer Support. They raised a whopping £2,000.

Christmas Jumper Day

The whole Senior School from Year 7 to Sixth Form and staff getting into the Christmas spirit to raise funds for our School charities - £2 per jumper!

Charity Netball Match

Our Upper 6 girls vs boys netball match drew a huge crowd and raised more money for school charities.

Charity Bake Sales

We hold a number of Charity events when homemade cakes and hot chocolate are sold outside our Chapel to raise funds for our School charities.

Prep School Summer Fayre

Our Summer Fayre involved hard work from the children, staff and families and raised £1,500 for our Prep School charities.

Community Events

We are proud to be a central and pivotal resource within the local area. We integrate within the local community to provide resources, help, volunteering assistance and access to school events as well as hosting large scale events for the benefit of the wider community.

Christmas Fair

Each year, we run a fabulous Winter Wonderland, open to the whole community. With hordes of stalls from local crafters, Father Christmas (and elves), Christmas market and festive café, it is a truly integrated community events. It is a chance for local families to enjoy the run-up to Christmas with no entry fee for the Christmas market and I.

CCF and Corps of Drums

Over 200 students are part of our Combined Cadet Force with representation from Army, Navy and Air Force sections. In addition, we have a vibrant Corps of Drums band which participates in many local events. The CCF and Corps of Drums lead the Remembrance Parade through the town to the

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Community activities (continued)

Memorial on Remembrance Sunday, provide buglers for the town events, lead the St Georges Day Parade through Taunton and the local carnival parade, as well as supporting other local events.

Our CCF have provided a Lord-Lieutenant Cadet for many years. They assist the Lord-Lieutenant as required, often on parade for Royal visits, and act as ambassadors for their organisations and the young people of Somerset. Every year, 6 cadets from the whole of Somerset are chosen as His Majesty’s Lord Lieutenant’s Cadets. They represent the CCF and the Cadet force in General, and their role is to assist the Lord Lieutenant for Somerset with his or her formal duties. Year 12 CSM Olivia was invested as one of the 6 Lord Lieutenant’s Cadets for 2024 -2025.

Council Consultation

Year 7 and 8 children worked with Somerset West and Taunton Council who are producing a Wellington Place Plan. The Plan will help the Council in its decisions around the development, regeneration and conservation of Wellington.

It will look at potential options for growth to support housing and employment needs; retail and commercial function; transport systems; culture and heritage.

Duke of Edinburgh Award Scheme

As part of their Duke of Edinburgh Award Scheme, around 125 pupils each year volunteer for a minimum of 3 months at a range of local organisations and charities, including local care homes. Other activities have included:

• Creating maps for vulnerable communities globally without access to accurate maps (OpenStreetMap)

• Fundraising for a local church

• Collecting food and medicines for those shielding or with reduced mobility

• Working on a project to increase wild animal habitats using sustainable methods

Over 3,000 hours of community service

Community Action Group

• Around 80 Year 10 and 11 students take part in our CAG programme, which operates as a carousel of six different elements: Local, Global, Eco, Senior, Radio, Equal Citizens.

• We are also part of Citizens Somerset, working on campaigns associated with Fair fares for Young People (bus travel), a street safety campaign and currently leading an alliance listening campaign into Mental Health across Somerset.

• We are part of Taunton Transition T–wn - a group of individuals from the community working together to meet the twin challenges of Peak Oil and Climate Change- helping to protect the environment and educate the local community.

• As part of our involvement and work with the local community, we recently hosted the Citizens Somerset Wellington to Taunton Cycle route Stakeholder conference. With input from

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Community activities (continued)

• Wellington Town Council, Transition Town Wellington, local MP Rebecca Pow, students and staff, the conference helped to shape the future direction of the project.

• Our Citizens students hosted an Intergenerational Tea Party, and welcomed a large group of elderly people to enjoy chat and music. Organised through Age UK Somerset the aim was to engender empathy, understanding and build relationships across the age groups.

• Our students were also involved in a Beach Clean with Plastic Free North Devon.

• Our students also take part in regular clearing of local moorland and parkland to encourage wildlife.

Our Community Action Programme delivers over 5,000 hours of community service

Little Wellies Toddler Group

Our Prep School opens its doors each week to hosts of parents and toddlers from the surrounding community, who are invited in to use our facilities, enjoy some socialising time and put in place some learning building bricks. The sessions are run by our own teachers so a strong educational focus is always present.

Further Community Participation

Students at Wellington are also very involved with other areas of the local community;

• Local community invited to Drama productions and concerts.

• Host the annual Wellington Flower Show.

• Bi-annual choral production for whole community.

• Community choir and orchestra welcoming members from school and beyond annual gala performance.

• Chapel services open to all.

• Sam Sherwin Memorial Rugby Match – School v Town.

• Providing parking for local Farmers’ Markets and Community Hospital.

• Students displayed artwork in local art exhibitions.

• Participated in the Wellington Film Festival – providing a dance film which was projected onto the buildings of the town during the Festival.

Use of Facilities

As part of our commitment to the wider community, we are delighted to offer the use of our facilities to local organisations at heavily subsidised rates.

Organisations that benefit from our facilities include:

• Rockschool exam centre

• Wellington Camera Club

• Wellington Swords fencing club

• Local rugby, hockey clubs

• Holiday club throughout the summer

• Wellington Wildlife Watch

• History of Art Society

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Community activities (continued)

• Host Wellington Camera Club

• Scouts & Beavers parties

• St Johns Ambulance First Aid Courses

Use of Swimming Pool

We are thrilled to be able to help out our local swimmers by hosting a variety of clubs while the Wellington Sports Centre is shut. We welcome Wellington Swimming Club, Water Babies, Tri Wellington, Taunton Deane Artistic Club, and AST Swimschool.

Supporting Local Schools

Primary School Events

We run an ongoing programme of partnership events to involve local primary schools and individual children from outside the school community.

We are aware that many local primary schools do not have the resources and facilities that Wellington benefits from and we are pro-active in providing support, resources and practical help to many schools and children in the area.

Each year, we run a number of partnership activities, including;

“Come and Sing” day. Preparation in advance (recordings and scores created, visits to all schools and workshops.) Whole day rehearsals, “The Voice”- style sing-off and performance (400+ children)

“Mighty Orchestra” – Primary School instrumental pupils invited to rehearse and play with Wellington School orchestra (30+ children involved)

Maths Challenge

This has been running for 25 years and over 60 local primary schools – (250 children) come along for a morning of Mathematical conundrums and team challenges. With prizes and active participation, it is a firm fixture on the calendar of many local primary schools.

Drama Club

Our drama teachers run partnership drama clubs in local primary schools. They go into the schools to inspire and enthuse young pupils weekly throughout the year and all the children from the different schools then join us for an exciting showcase at the end of the year using our theatre and technical facilities. They are currently supporting 4 local primary schools.

Writing Retreat

Always with a clear theme, schools are invited to bring teams to be creative. With a live Q&A session with published children’s authors, top tips and some Creative writing tasks, competitions and challenges, it is a fantastic chance for budding literary stars and culminates with parents returning to hear children reading their work.

22 schools - over 200 children.

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Community activities (continued)

Music Masterclasses

We regularly run Masterclasses with professional musicians and artists – our own students join students from other schools to work with them for a day, culminating in an exhilarating concert incorporating all students and the professionals. This provides opportunities to explore a variety of genres and experience a high level of performance. We were delighted to welcome international acclaimed trombonist Dennis Rollins to work with our students.

Stage School

We have set up a Stage School every Saturday morning with great success, which is open to our own pupils and external children. Pupils from Year 1-8 are coached by our own Drama staff, within workshops and work towards regular showcases each term. We now have over 90 students engaged with the programme and last year, three students gained a place with the British Youth Music Theatre company.

Dance School

Our Dance School caters for children aged 3 to 18 and is open to pupils and local children. Classes are offered in ballet and modern with our RAD qualified instructor, in our purpose-built dance studio. Pupils of all ages love their ISTD Modern Dance and Ballet lessons.

Each year we welcome well over 1,000 children from surrounding primary schools to participate in events.

Local Secondary School Links

• Hosting Careers Fair - over 300 participants and 100 exhibitors

• Passmore lectures – local Secondary Maths students attended

• Horizons Academic lecture series – local schools invited

This year, we welcomed over 700 children from surrounding secondary schools to participate in events.

Local Club Events

• Elite Cricket Development - local clubs invited

• Wellington Foxes Hockey Team

• Foxes Hockey tournament

• Badgers veteran rugby club

Supporting Local Wider Education

Wellington School is committed to supporting teacher training and professional development for newly qualified teachers, now known as Early Career Teachers (ECT’s) in the region, by offering placements for PGCE students and supporting the two year Early Career Teacher programme. The school currently trains students through Buckingham University and the ECT 2 year post qualification

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Community activities (continued)

programme through IStip and we are proud of the following contributions to education and the local community:

• 9 ECTs in the past 2 years

• Supported 2 people through teacher training in the last 2 years

• 4 current individuals on apprenticeship schemes

• 4 members of staff sit on governing bodies of local schools

• Many members of staff are involved in coaching and training in local sports clubs

• Wellington School is one of the largest employers in the town, employing 350 local people

Sponsorship

Supporting the local community is really important to Wellington School, and we are proud to sponsor a number of local clubs and charities. Support includes providing kit, rosettes, awards and financial assistance. These include;

• Conquest Equestrian Disability Centre

• Wellington Rugby Club

• Exeter Chiefs

• Heathcoat Cricket Club

• Topsham Rugby Club

• Taunton RFC

• Exeter Rowing Club Regatta

• Trull School of Dance

• Wellington Pantomime

• Wellington Cricket Club

• Taunton Vale Pony Club

• Wiveliscombe & Wellington Community Radio

• Culmstock Cricket Club

• Exeter Cathedral School Charity concerts

Championing Sustainability

We are passionate and enthusiastic about the sustainability agenda and want to encourage the whole community to become involved in shaping our future.

We are all working together to create a sustainable campus by ensuring our built environment is managed in a way that is sympathetic to our environment and its historic context, meeting the needs of the pupils now as well as those of future generations.

Everyone, in whatever role, has an important part to play in contributing to the creation and maintenance of a sustainable campus and to living its values and ambition.

We have been busy developing sustainable solutions to environmental problems and have developed a number of projects.

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Community activities (continued)

Regenerating our Environment

• We are re-wilding areas of the campus to support regeneration of nature and student wellbeing and have planted new hedges and trees.

• • We have a Forest School site in the Blackdown Hills where Prep School children go weekly. Activities have involved tree and hedge planting, herb and flower planting, bird and bat box making, bug hotel, small pond building and log pile manufacturing for insects. No litter or waste is left at the site.

• We have an allotment and a vegetable garden enabling pupils to learn in an outdoor classroom.

• We also have a wild pond to encourage biodiversity and created a ramp for the pond to aid frogs and toads.

• Our Eco-citizens have been filling our newly constructed planters with soil ready to plant some winter veg and the many raised beds filled with flowers for bee pollination.

• • Water stations located across the school site provide clean, fresh drinking water.

• We work with Plastic Free North Devon for a beach clean day and we regularly litter picking on campus and in our community, creating a cleaner environment for us all.

• We have been awarded the RSPB Gold Schools Award and promote the RSPB Great Garden Birdwatch to increase awareness of the local environment and the changes to wildlife resulting both from climate change and the affects of local development.

• Biodivers–ty - grass areas has been seeded with wildflowers and are cut less frequently.

• • We have a hive of red mason bees. Filled nesting tubes are collected and stored until the late summer when they are sent to the Mason Bee project team, who harvest and inspect the cocoons for parasites. Cocoons are then stored over the winter and released in late spring.

• • We encourage wildlife, grow our own fruit, veg and herbs which go directly to the school kitchen for lunches.

• We create bug hotels, hedgehog homes and bird boxes, feed the birds, and have 5 bat boxes and a swift nest-cam so we can observe the hatching of the baby swifts.

• Ongoing litter picking projects.

• We have bought in native butterfly eggs/caterpillars which are kept in habitats so students can observe the life-cycle. Once the pupae are hatched, the butterflies are released in the wildflower meadow.

• Our campus team have all been on a bat education course to protect the species on site.

• Tree planting day and apple trees donated by Wellington Town Council.

Tree Planting

The School commissioned Brynley Andrews Associates to complete an arbicultural report of our site. The purpose of the report was to help us better understand how we could provide a tree management program for the next five years and to set objectives for the next 30 years. In addition, the report provided guidance on the upgrading of our green waste recycling methodology. It is hoped that Wellington school will be an exemplar of modern environmental education, urban greendesign, and sustainable development.

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Community activities (continued)

Over the past 12 months, we have planted approximately 850 trees including hedges, copses and woodlands.

In addition, the Woodland Trust have kindly donated over 400 trees as part of their ‘Trees for Schools and Communities’ initiative, and these are a mixture of indigenous varieties including hazel, blackthorn, crab apple, elder, dog rose and rowan. We held a ‘Grand Tree Planting Day’ plant where families, alumni and members of the community came along to help plant these trees in various locations around the campus. Members of the Campus Team were on hand to provide guidance as needed and offering insights on the trees being planted and tree maintenance more widely .

We also put in a bid to the Wellington Town Council for some dwarf apple trees as part of their free fruit tree scheme and representatives from the Eco-committee and the Prep School Gardening Club planted them to provide food for the summer bees and a valuable educational resource for years to come.

Reducing Electricity Usage and Waste

• We have an active Eco-committee who meet regularly and represent the whole community.

• We undertake energy audits.

• We have an EPC for all our buildings.

• We have installed lower electric LED lighting around the campus.

• We have replaced our diesel van with an electric van for our campus team and are exploring electric vehicle charging points and e bike charging to promote these forms of transport.

• We have vetoed single use plastics, refusing to use products that we no longer need, and have created WASP – Wellington against Single Use Plastic and created a logo.

• We have dedicated walk and cycle to school days.

• Our catering team use locally sourced food wherever possible to reduce our carbon footprint.

• Our Eco Committee has signed up to the Big Battery Hunt and will be collecting any used batteries which would otherwise end up in landfill. By collecting AAA, AA, C and D batteries we can recycle them in a safe and secure way.

• We also collect and recycle crisp packets, pens, soft plastic, bottle tops, toothpaste tube and other dental products.

• We have recycling bins around school and fresh water fountains.

• We encourage minimal mileage on all our purchased resources and reuse wherever possible.

• We recycle waste paper/card and reuse blank offcuts as scribble pads. We reuse empty paper boxes and then recycle.

• Our Canon copiers are leased from https://commercial.co.uk/ They have a Social Impact Report which also shows their journey towards Carbon Net Zero. We also recycle our toner cartridges and waste toner through them.

• We also use Canon Black Label Zero copy with a 100% farmed production of paper cycle, plant – grow – harvest.

• Pupils made an eco code.

• Created “10 ways to make your Christmas more sustainable” published in the school newsletters.

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Community activities (continued)

• Eco-committee spoke to sustainable leads from linked organisations.

• We have introduced a “Planting not Printing” initiative for brochures and prospectuses.

• All our suppliers have their own sustainability programmes.

• All cleaning products are green.

• We send all our old unused and defunct textbooks to is a company near Exeter that recycle old books, Pulp2! – they then manufacture wholly sustainable products, created from books we no longer read. The process of turning unused books into a range of paper products adds value to the world, spares timber resources and helps to end the use of landfill.

STRATEGIC REPORT

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR

Operational Performance of the School

The results for the 2025 external examinations show Wellington School to be well above the national average at all grade points at both A level and GCSE. The results are as follows:

• At A Level in 2025 15% of the grades awarded were at A, 40% of grades were awarded A to A, 71% A-B, and 90% were awarded A to C. We continue to have a strong track record of helping students to secure places onto highly competitive courses such as Medicine and Veterinary Science. The current 5-year averages for A Level are: A-A = 42%, A-B = 69% and A-C = 88%. In 2024 9 students completed the BTEC Sport course and the results were: 1x MP, 3x MM, 4x Dd and 1xDD. Furthermore, 12 students completed their Extended Project Qualification, with two thirds of the grades awarded A*-A. In 2025 100% of our students secured places at either their firm or insurance university.

At GCSE in 2025 29% of the grades were awarded grades 9-8, 44% of grades were awarded 9-7, and 92% were awarded 9-4. The current 5-year averages for GCSE are: 9-8 = 31%; 9-7= 48%, and 9-4 =

• 93%.

Post 16, A Levels, a BTEC in Sport, and the Extended Project Qualification are offered alongside an Academic Enrichment Programme, in addition to advice on Careers, UCAS and a range of academic societies. The School has a Sports Performance and Wellbeing department, which aims to combine a traditional sporting programme with a more innovative slant towards wellbeing and long-term physical literacy.

The School continues to support those interested in teacher training and has a number of partnerships, including most recently with the University of Buckingham. For the academic year 2024-2025 there were 3 Early Career Teachers who the School continued to support through their two-year induction period. An IStip school visit completed during the summer term 2023 judged the school’s provision for ECTs to be ‘exemplary’.

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Subsidiaries

The Wellington School Foundation is a company limited by guarantee (number 05176879), a charity registered in England and Wales (number 1105256), and was formed in 2004 primarily to promote the charitable work of Wellington School and further the education and advancement of present and past members of the School through the provision of scholarships, bursaries and grants. The Foundation achieves these and its other aims by liaison with school alumni and supporters to encourage them to provide financial gifts and pledges for the development of the bursary funds. These funds are used to help existing pupils whose family circumstances have changed who, without assistance, would have to leave the School and to support new bursaries to help children who could not otherwise afford a Wellington School education. The Foundation has, in conjunction with the Old Wellingtonians’ Association, been instrumental in raising funds to allow wider means tested support for children. Total income for the year was £320,136 (2024: £185,241) with investment income totalling £175,359 (2024: £175,393) and donations received £146,777 (2024: £9,848) . Net assets of the Wellington School Foundation were £3,266,375 (2024: £3,337,203) at the year end.

Wellington School (Somerset) Trading Company is a company limited by guarantee (number 03049392) and manages and supports the non-educational activities of the School including the sports facilities for community use including children and youth groups. The Trading Company encourages the use of these assets by local primary schools and community groups to help children from unfortunate families or social backgrounds. Total income for the year was £188,239 (2024: £241,230) versus net expenditure of £136,831 (2024: £168,695). Net assets of the Wellington School (Somerset) Trading Company were £19,905 (2024: £19,905) at the year end.

Wellington School International is a company limited by guarantee (14336110). Wellington School International Ltd did not trade and had £1 unpaid share capital at the balance sheet date.

STAKEHOLDER ENGAGEMENT AND SECTION 172 STATEMENT

Promoting the success of the School

Section 172 of the Companies Act 2006 requires the directors to act in the way they consider, in good faith, would be most likely to promote the success of the charity to achieve its charitable purposes. The Act states that in doing so, the directors should have regard, amongst other matters, to:

The likely consequence of any decision in the long term

The School has a comprehensive Strategic Development Plan which sets out long term objectives across all areas of the School. The intention of this Development Plan is to provide operational clarity across the major elements of school life, within a strategic framework. The Strategic Development Plan enhances efficiency, allows progress to be assessed against measurable success indicators, improves the ability of the Headmaster to support staff when support is needed and clarifies lines of communication. Any decision made takes account of the Strategic Development Plan and long-term consequences.

The governors and leadership teams hold regular planning days to consider the long-term strategy of the School.

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Employees

The School ensures that as an Equal Opportunities employer, it gives due regard to those employed or potentially employed by the School. Recruitment processes are transparent and fair, ensuring that existing employees and potential hires are considered based solely on their skills, qualifications, experience and aptitude for roles. The School recognises that employees play a key part in ensuring the success of the School and therefore focus is given to ensuring good communication, engagement and consideration for wellbeing.

Employees have access to information which supports this culture and they are encouraged to engage with governors, leadership and management teams at all available opportunities. A staff handbook is available to all staff on the School’s learning platform, providing advice and guidance on a number of areas of employee interest. Briefings take place weekly which update employees on current school developments and these are supplemented by twice termly staff meetings, termly INSET days and governors’ planning days. Governors regularly visit the school site, both formally and informally to engage with employees.

Two-way communication is further encouraged through surveys to all employees, which provide opportunities for regular feedback on matters relating to staff wellbeing and engagement. Trends and themes of this feedback are reviewed by senior leaders and shared with governors. There is a Works Council and Head’s Advisory Group, both of which comprise a cross section of employees, with each having clear terms of reference to represent employee interests.

The School provides access to a confidential employee assistance/counselling line, staff benefit from free use of the School’s sporting facilities and a review in 2021 of benefits resulted in enhancements to terms and conditions for all staff.

Suppliers

The School actively seeks to engage in service reviews with all key suppliers. These reviews are focussed on a two-way relationship with the School with an aim of helping one another to achieve an optimum service as efficiently as possible and according to the best value for money. We ensure invoices are paid in a timely manner.

Parents

The School recognises the importance of maintaining good relationships with parents. The School communicates with parents through termly newsletters, the Weekly Bulletin (Senior School) and The Eagle (Prep School). Parents have access to variety of information on both the website and My School Portal. The School receives regular feedback from parents through parental surveys, class representatives and parent forums.

Environment

We recognise our responsibility to care for the environment and aim to minimise our environmental impact in all our activities. As well as covering environmental issues in our school curriculum, the School encourages all staff and students to participate in initiatives to reduce negative environmental impacts. The School’s Eco-Committee’s recent initiatives include a ‘One Cup System’ to reduce waste, an energy survey and new recycling initiatives.

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FOR THE YEAR ENDED 31 AUGUST 2025

Culture and Values

The Board is responsible for knowing and supporting the aims of the School, its mission and for ensuring that these are achieved. Wellington’s ethos rests on three pillars: outstanding relationships, the pursuit of excellence and a love of learning.

We want children to feel secure and confident, to feel supported and understood, to feel able to turn to those around them for guidance and encouragement. Our relationships are informed by values such as kindness, tolerance, inclusivity and trust. We work together to bring out the best in one another.

As a learning community, we are process oriented; we work through problems, we don’t shy away from challenges, we understand that getting things wrong at first is part of getting them right in the end. We are ambitious in our aspirations, but humble enough to accept that there is always more we can learn.

FINANCIAL REVIEW

The Governors continue to make it a priority to keep fees as low as possible whilst still maintaining the estate at a high level of repair in addition to increasing investment in technology and in the pastoral and learning environment. Furthermore, the Governors have continued with their policy of investing income back into the School for educational purposes.

Maintaining fees as low as possible assists all parents in terms of affordability, however in addition to this and with the aid of the Foundation, many children from all walks of life and different financial circumstances also benefit from means tested bursaries. It is important to note that as an educational charity we receive some tax benefits and any surplus generated is applied to both improving pupil education and in helping to keep these fees at a low level. Adjustments to teaching staff and certain improvements around the campus continue to be managed within existing budgets.

The School continues to follow its Strategic Plan despite reporting a deficit for the year. Pupil numbers have declined compared to the prior year, which has impacted income levels. In addition, the School has faced significant financial pressures, including challenges with fee structures and VAT, rising operating costs driven by increases in the National Living Wage and National Insurance contributions, and higher business rates following the loss of charity relief. These factors have compounded the strain on resources. Management remains committed to restoring operational surpluses to ensure long-term sustainability.

Total Income for the Group decreased by £1,062,333 (2024: increased by £2,033,999) to £18,292,359 (2024: £19,354,692) and Total Expenditure increased by £137,028 to £18,527,095 (2024: £18,390,067) . This resulted in Net deficit before investment gains or losses of £234,735 (2024:Net income £964,625) . The balance sheet reflects the sound standing of the Group and the Charity. The statement of financial activities reflects the Governors’ policy to reinvest any surplus back into the fabric of the School and improve the resources to develop the education on offer by the School.

The subsidiaries provide support to the Charity in different ways and the Foundation continues to develop its support base to provide gifts and pledges to build, over time, a substantial bursary and scholarship fund. The Foundation’s investment programme has, with the help of donations from alumni, allowed the Governors to increase means tested bursaries and grants which will continue into

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FINANCIAL REVIEW (CONTINUED)

the future. The Trading Company continues to manage the commercial lettings and provides tremendous support to the School surplus. The Trading Company gift aids profit to the Charity.

Reserves

Note 13 to the financial statements shows the assets and liabilities attributable to the various funds by types and also describes the various trusts of the charity and summarises the year’s movement on each fund.

The total funds held by the Charity at the end of the year are £19,662,879 (2024: £19,922,895) of which £16,964 (2024: £13,693) are restricted and are not available for general purposes of the Charity. Unrestricted funds of the Charity amount to £19,645,914 (2024: £19,902,202) , a decrease of £256,288 (2024: increase £1,012,131) in the year. As the Charity has invested in the provision of educational facilities free reserves are negative at £3,986,045 (2024: negative £4,347,983) . There are no material amounts which have been designated or otherwise committed. Liabilities of £3,969,080 (2024: £4,334,290 ) can only be realised by disposing of tangible fixed assets.

The reserves policy is to continue building up reserves out of annual operating surpluses until sufficient cash is held that cash received in advance of the following term is not needed to fund working capital, subject to the prior demands of further capital expenditure to equip the School with the up-to-date facilities needed to maintain the standard of educational services currently provided.

Energy and carbon emissions

In accordance with the Streamlined Energy and Carbon Reporting (SECR) requirements outlined in 'The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulation’s 2018', our Group hereby presents the following statement regarding carbon emissions. This report encompasses energy consumption and the associated greenhouse gas emissions, including those related to gas, electricity, and transportation. Additionally, it provides intensity ratios and details regarding actions taken to enhance energy efficiency. The energy consumption figures have been calculated using the CHG Reporting Protocol and adhere to the 2024 Government emission conversion factors designated for greenhouse gas reporting by companies.

	2025	2024
Total energy usage from electricity consumption:	995,395 kwh	967,076 kwh
Total energy usage from gas consumption:	2,986,214 kwh	3,086,082 kwh
Total emissions through use of purchased electricity:	206,097 KgCO2e	200,233 KgCO2e
Total emissions through combustion of gas:	546,179 KgCO2e	617,216 KgCO2e
Total emissions from fuel consumption on transport fleet	79,048 KgCO2e	67,777 KgCO2e
Total Gross emission	831,323 KgCO2e	885,227 KgCO2e
Intensity ratio (KgCO2e per pupil)	959.96	971.35

Energy Efficiency Initiatives

The School is deeply committed to minimising energy consumption wherever feasible. To this end, we have an established Eco-Committee that actively engages in surveys focused on energy usage. These surveys play a pivotal role in identifying areas of energy waste and devising strategies to mitigate it.

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Energy and carbon emissions (Continued)

Notably, during the reporting year, the school's dedication to sustainability led to the attainment of the Green Flag award with distinction. We are determined to maintain this high standard in the coming reporting year and aspire to attain the status of a plastic-free school.

Environmental Upgrades

In our ongoing efforts to reduce our environmental footprint, the school made strategic investments during the financial year. Specifically, we replaced older, less efficient lighting systems across our campus with environmentally friendly and highly efficient LED lights. This initiative not only contributes to our sustainability goals but also demonstrates our commitment to responsible resource management.

Future Sustainability Goals

Looking ahead, the school is firmly committed to further reducing carbon emissions and enhancing overall efficiency. In the upcoming reporting period, we will complete our regulatory compliance with the Energy Savings Opportunity Scheme (ESOS). The insights and recommendations from ESOS, coupled with other pertinent factors, will guide our efforts to achieve even greater carbon emissions reductions and efficiency improvements.

Investment Policy and Performance

The Governors’ policy is to maintain income whilst preserving the real value of investments, to maximise income on temporarily restricted funds, and to match the return on invested Advance Fees Scheme monies in line with the maturity profile of the related liability to provide schooling in future years. Social, environmental and ethical considerations are considered when investing the charity’s funds.

PRINCIPAL RISKS AND UNCERTAINTIES

The Governors are responsible for the overseeing of the risks faced by the School. Detailed considerations of risk are delegated across the various Governor sub-committees and considered by the Senior Management Team at regular meetings. Risks are identified, documented in a Risk Register, assessed and controls established throughout the year with a formal review of the risk management process undertaken annually.

The main risk area for the School are risks associated with the protection of the Schools pupils, staff and assets. Procedures and systems to minimise these risks are reviewed and updated. Within financial risks, liquidity risk is managed by a combination of loans to finance long term projects and overdraft facilities to deal with month-on-month fluctuations in cash flow. External financial pressures that are outside the control of the school such as the removal of charitable relief and VAT on school fees are carefully monitored and planned for and Governors regularly review the risks associated with these changes.

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PRINCIPAL RISKS AND UNCERTAINTIES (CONTINUED)

The main risks identified include:

• 1) Finance – Our ability to continue is reliant on pupil fees and the ability to pay bills as they fall due. This risk is managed by effective marketing activity, having an excellent reputation for academic, pastoral and extra-curricular excellence and active cash-flow management.

• 2) Reputation – The School’s success is built on its reputation for the education and well-being of our pupils. We manage this risk through safeguarding policies, staff recruitment policies, pastoral support for both pupils and staff and active identification and resolution of health and safety related issues.

• 3) Curriculum – Academic excellence requires the most able teachers with good facilities delivering the curriculum to able students. We manage this risk by combining attractive salaries with additional allowances, on-going investment in our estate and an approach to enrolment that works well with supportive parents whose children have an appetite for learning and a scholarship/bursary scheme that recognises pupil achievement, aptitude and financial need.

The key controls are enhanced by:

• A strong, competent Board of Governors.

• A well-qualified, experienced Executive.

• Close monitoring of operational and financial performance.

• Robust recruiting and vetting policies.

• Comprehensive strategic planning, budgeting and management accounting.

• Formal written policies.

• Established organisational structure and lines of reporting.

Through the risk management processes established for the School, the Governors are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

FUTURE PLANS

The School has identified three overarching priorities for the period ahead:

• To continue to promote kindness, empathy, inclusivity, equality and a strong sense of community as essential characteristics of our community, notably in the relationships between our students.

• To continue to develop our excellence in teaching and learning and the opportunities available within our curriculum and co-curriculum that stretch and challenge our student body.

• To embed our four principles within all we do: Embrace Complexity, Spark Connections, Lead Together and Act Today.

In addition to these priorities, the School intends to:

• Further support the wellbeing of staff and pupils.

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FUTURE PLANS (CONTINUED)

• Enhance the clarity and rigour of academic tracking so that appropriately supportive interventions can be effectively implemented.

• Develop more numerous and impactful partnerships with external organisations and leading professionals in areas of our academic and co-curricular provision to stretch and challenge our students and staff.

• Progress with ‘Project 2028’ a community engagement programme that seeks to explore how our education can develop further for the modern world.

• Enhance the academic enrichment and inter-disciplinary, project-based learning opportunities for pupils in both the Prep and Senior Schools.

• Create more opportunities for building the skills to create the future, not just be prepared for it, including but not limited to: oracy, entrepreneurship, tackling real-world problems, futures/systems/design thinking and AI fluency. This work should be helping students to act whilst they are still at school to help bring more sustainable, just and equitable futures into being (for society and the environment).

• Develop our work experience programme to mirror to ambitions of Project 2028, focussing on leading businesses who are in the areas of entrepreneurship, re-generative practice and emerging technology.

• Continue developing the leadership of our pupils, and to give pupils the opportunity to consciously reflect on the wider skills and competencies they are developing as they engage in curricular and co-curricular activities.

• Review our use of IT and how we are integrating AI within our education.

• To ensure that the School’s taught curriculum recognises that extensive and valuable contributions made by women, and members of the black, Asian and minority ethnic (BAME) and LGBTQ+ communities.

• Continue our focus on effectively integrating the various sectors of our community (i.e. boarding and day, girls and boys, younger and older pupils).

• Develop a 5-year Campus Plan to support the School’s vision and support the Development programme.

• Continue to invest in the fabric of the School, with sustainability and energy efficiency being particular areas of focus.

• Reduce the School’s carbon footprint by developing a strategy and management plan to embrace sustainability across the campus via estates operations, initiatives and projects.

• Continue to widen the range of opportunities for Prep School pupils to benefit from the cocurricular resources and expertise of the Senior School.

• Ensure that girls and boys of all ages have equal opportunities to explore and develop their co-curricular interests and abilities.

• Provide parents with more opportunities to socialise and establish relationships through school activities.

• Work closely with the Old Wellingtonian Association in deepening relationships with alumni, both in the United Kingdom and around the world.

• Build on the success of our Giving Day in 2025 as we further advance fundraising for bursaries and capital projects.

• Review our academic and co-curricular community links to ensure that Wellington plays a substantive role in both supporting and raising levels of aspiration within the Wellington community.

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WELLINGTON SCHOOL 1837

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

FUTURE PLANS (CONTINUED)

The Charity Governance Code was released in July 2018, and in the interests of best practice the Governors assess themselves against this code including subsequent updates.

STATEMENT OF GOING CONCERN

The Governors believe that the Charity’s financial resources and contingency planning is sufficient to ensure the ability of the School to continue as a going concern for the foreseeable future and therefore the financial statements have been prepared on this basis. The Executive have been closely monitoring the finances and cashflow position and have undertaken detailed contingency planning for inflationary cost increases.

In our consideration of the presumption of going concern as the basis for the preparation of the report and financial statements, the Governors have concluded that no material uncertainties have been identified that may cast significant doubt about the ability of the School to continue as a going concern. The Governors therefore have a reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. For this reason, we continue to adopt the going concern basis in preparing the financial statements.

AUDITORS

Crowe U.K. LLP has indicated its willingness to be reappointed as statutory auditor. The Report of the Trustees, including the Strategic Report, was approved by the Governors on 10[th] December 2025 and signed on their behalf by

Ms A Govey BSc, MSc Chairman

Date:

31

STATEMENT OF GOVERNORS’ RESPONSIBILITIES

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2025

The Governors (who are also directors of Wellington School 1837 for the purposes of company law) are responsible for preparing the Strategic Report, Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

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

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgments and estimates that are reasonable and prudent;

• state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, 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 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditors

Insofar as each of the Governors of the charity at the date of approval of this report is aware there is no relevant audit information (information needed by the charity’s auditor in connection with preparing the audit report) of which the charity’s auditor is unaware. Each Governor has taken all of the steps that he/she should have taken as a Governor in order to make himself/herself aware of any relevant audit information and to establish that the charity’s auditor is aware of that information.

The Trustee’s Report and Strategic Report is approved by the Governors and signed on their behalf by:

Ms A Govey BSc, MSc Chairman

Date:

32

REPORT OF THE INDEPENDENT AUDITOR TO THE GOVERNORS OF

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2025

Opinion

We have audited the financial statements of Wellington School 1837 (‘the charitable company’) and its subsidiaries (‘the group’) for the year ended 31 August 2025 which comprise the Consolidated statement of financial activities, Consolidated balance sheet, Charity balance sheet, Consolidated statement of cash flows 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 Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 August 2025 and of the group’s 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 group 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 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 or the group’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 Governors’ with respect to going concern are described in the relevant sections of this report.

Other information

The Governors’ are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.

33

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2025

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements 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.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the Governors’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report included within the Governors’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Governors’’ report.

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

• adequate and proper accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

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

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

Responsibilities of Governors’

As explained more fully in the Governors’ responsibilities statement set out on page 31, the Governors’ (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 Governors’ determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

34

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2025

Auditor’s responsibilities for the audit of the financial statements

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

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, employment legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context were The Education (Independent School Standards) Regulations 2014.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Governors’ and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the accuracy of bursaries, scholarships and other discounts and the

35

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

WELLINGTON SCHOOL 1837

FOR THE YEAR ENDED 31 AUGUST 2025

override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, designing audit procedures over the accuracy of bursaries, scholarships and other discounts, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Tara Westcott Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP Statutory Auditor 4th Floor St James House St James’ Square Cheltenham GL50 3PR

Date: 18 December 2025

36

WELLINGTON SCHOOL 1837

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating a Consolidated Income and Expenditure Account)

FOR THE YEAR ENDED 31 AUGUST 2025

Notes INCOME Charitable activities School fees 1 Other educational income 2 Ancillary trading 2 Other trading activities 2 Investment income 2 Donations and legacies 2 Other income 2 Total income EXPENDITURE Raising funds Charitable activities Total expenditure 4 Net income before investment losses Net gains/(losses) on investments7 Net gains/(losses) on investment Properties7 NET INCOME Transfers 13a 13b NET MOVEMENT IN FUNDS Funds Balances Carried Forward at 1 September 202413 Fund Balances Carried Forward at 31 August 2025 13	Unrestricted Funds Revenue Revaluation £ £ 15,861,788 - 160,155 - 1,614,283 - 294,290 - 131,200 - 200 - 71,981 - 18,133,897 - 470,845 - 18,036,877 - 18,507,722 - (373,825) - - - - 540,018 (373,825) 540,018 202,330 (144,000) (171,495) 396,018 5,040,628 15,190,374 4,869,133 15,586,392	Restricted Funds £ - - - - 127 147,877 10,459 158,463 790 18,583 19,373 139,090 31,899 - 170,989 (58,330) 112,659 2,797,721 2,910,380	Total Funds 2025 £ 15,861,788 160,155 1,614,283 294,290 131,327 148,077 82,440 18,292,360 471,635 18,055,460 18,527,095 (234,735) 31,899 540,018 337,182 - 337,182 23,028,723 23,365,905	Total Funds 2024 £ 16,898,587 138,829 1,879,942 333,712 50,524 37,448 15,650
				19,354,692
				231,961 18,158,106
				18,390,067
				964,625 21,905 -
				986,530 -
				986,530 22,042,193
				23,028,723

The notes on page 44 to 63 form part of these financial statements.

37

WELLINGTON SCHOOL 1837

CONSOLIDATED AND CHARITY BALANCE SHEETS

AS AT 31 AUGUST 2025

COMPANY NUMBER 09316033

Notes FIXED ASSETS: Intangible assets 5 Tangible assets 6 Investment Properties 7 Investments 7 CURRENT ASSETS: Stock Debtors 8 Cash at bank and in hand LIABILITIES: Creditors: due within one year 9 NET CURRENT ASSTES/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: due after one year 10 TOTAL NET ASSETS RESTRICTED FUNDS 13a UNRESTRICTED FUNDS 13b Revenue reserves Revaluation reserve TOTAL FUNDS	Group 2025 £ 5,083 25,633,628 1,090,000 418,769 27,147,480 9,350 6,151,356 4,279,109 10,439,815 (12,281,815) (1,842,000) 25,305,480 (1,939,575) 23,365,905 2,910,380 4,869,133 15,586,392 23,365,905	2024 £ 9,393 26,856,728 - 237,660 27,103,781 14,924 845,456 7,811,468 8,671,848 (8,063,610) 608,238 27,712,019 (4,683,296) 23,028,723 2,797,721 5,040,628 15,190,374 23,028,723	Charity 2025 2024 £ £ 5,083 9,393 23,626,875 24,247,792 - - - - 23,631,958 24,257,185 9,350 14,924 6,190,842 938,061 4,079,417 7,512,115 10,279,609 8,465,100 (12,309,122) (8,078,093) (2,029,513) 387,007 21,602,446 24,644,192 (1,939,567) (4,721,297) 19,662,879 19,922,895 16,964 13,693 4,405,706 4,524,993 15,240,209 15,384,209 19,662,879 19,922,895	Charity 2025 2024 £ £ 5,083 9,393 23,626,875 24,247,792 - - - - 23,631,958 24,257,185 9,350 14,924 6,190,842 938,061 4,079,417 7,512,115 10,279,609 8,465,100 (12,309,122) (8,078,093) (2,029,513) 387,007 21,602,446 24,644,192 (1,939,567) (4,721,297) 19,662,879 19,922,895 16,964 13,693 4,405,706 4,524,993 15,240,209 15,384,209 19,662,879 19,922,895
				24,257,185
				14,924 938,061 7,512,115
				8,465,100 (8,078,093)
				387,007
				24,644,192 (4,721,297)
				19,922,895
				13,693 4,524,993 15,384,209
				19,922,895

The net movement in funds for the charity was a deficit of £260,016 (2024: £1,013,922) .

The financial statements were approved by the Governors of Wellington School 1837 on 10[th] December 2025 and signed on their behalf by:

Ms A Govey BSc, MSc Chairman Date:

The notes on page 44 to 63 form part of these financial statements.

38

WELLINGTON SCHOOL 1837

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

Note Cash flows from operating activities: Net cash provided by operating activities 18 Cash flows from investing activities Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments Investment income receipts Net cash used by investing activities Cash flows from financing activities Repayment of loan Receipts from new advance fee contracts Advance fees repaid Advance fees utilised Interest paid Net cash (used by)/provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 19 Cash and cash equivalents at the end of the year 19	2025 £ (1,502,472) (323,706) - (150,000) 131,327 (342,379) (94,027) 104,242 (118,039) (1,933,969) (71,037) (2,112,830) (3,957,681) 7,811,468 3,853,787	2024 £ 2,839,767
		(516,393) - (100,000) 50,524
		(565,869)
		(140,271) 4,067,227 (13,317) (910,690) (87,629)
		2,915,320
		5,189,218 2,622,250
		7,811,468

The notes on page 44 to 63 form part of these financial statements.

39

WELLINGTON SCHOOL 1837

STATEMENT OF ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 AUGUST 2025

Charity Status

The charity is a company limited by guarantee and does not have any share capital (company number: 09316033). The liability of the guarantors, who are the members, is limited to £1 per guarantor. The company is registered in England and Wales. The School is registered with the Charity Commission England and Wales (charity number: 1161447). The registered office is Wellington School, South Street, Wellington, Somerset TA21 8NT.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republics of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and Charities Act 2011. The financial statements have been prepared in sterling under the historic cost convention as modified by the recognition of certain assets at fair value.

The financial statements consolidate those of the charity and the subsidiary undertakings which it controls as detailed in note 17. All intra group transactions are eliminated on consolidation.

The Charity has taken advantage of the exemptions in FRS 102 from the requirements to present a charity only Statement of Financial Activities and Statement of Cash Flows.

In accordance with section 408 of the Companies Act 2006, no separate SOFA has been presented for the Charity alone. The Charity’s gross income for the year amounted to £18,292,539 (2024: £19,354,692 ), gross expenditure amounted to £18,527,095 (2024: £18,390,067), giving a net loss movement in funds of £234,556 (2024: gain £964,625) .

The charity meets the definition of a public benefit entity under FRS 102.

Preparation of the accounts on a going concern basis

The financial statements are prepared on a going concern basis. The governors have reviewed scenario plans which consider the impact of VAT on schools fees and the loss of charitable business rate relief and having reviewed the funding facilities available to the school together with the expected ongoing demand for places and the school's future projected cash flows, the governors have a reasonable expectation that they have adequate resources to continue its activities for the foreseeable future and consider that there are no material uncertainties over the school’s financial viability. Accordingly, they also continue to adopt the going concern basis in preparing the financial statements as outlined in the statement of governors’ responsibilities on page 29. There are no material uncertainties over the going concern status of the school.

In assessing the going concern of the group, Governors have been closely monitoring the finances and cash flow position of the group. As part of the assessment made to determine if going concern is the correct basis for the financial statements, the governors have considered a range of different scenarios spanning 24 months from the end of the financial year. With this in-depth planning and the financial resources available to the school the governors believe they can continue as a going concern for the foreseeable future.

Fees and similar income

Fees receivable and charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the School from its Unrestricted Funds, but include contributions received from Restricted Funds for Scholarships, Bursaries and Other Grants.

40

WELLINGTON SCHOOL 1837

STATEMENT OF ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 AUGUST 2025

Donations and fund accounting

Donations received for the general purposes of the charity are included as unrestricted funds. Donations for activities restricted by the wishes of the donor are taken to “restricted funds” where these wishes are legally binding on the Governors. Donations are accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the Charity is considered probable.

The Revenue reserve fund is retained to cover the cost of fixed assets and to provide working capital. The Revaluation reserve fund represents the surplus arising on the revaluation of land and buildings less depreciation charged on the surplus.

Trading and other income

Trading and other income is accounted for in the period in which the income is earned.

Grants

Income from grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the School has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.

Where entitlements occur before income is received, the income is accrued. Where income is received in advance of the School having entitlement to the funds the income is deferred.

Legacies

Legacies are recognised in Statement of Financial Activities when there is entitlement, probability of receipt and the amount can be measured with sufficient reliability.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accrual’s basis. Overhead and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories based on the estimated amount attributable to that activity in the year. These estimates are based on staff time or the floor area as appropriate. The irrecoverable element of VAT is included with the item of expense to which it relates.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives. The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

41

WELLINGTON SCHOOL 1837

STATEMENT OF ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 AUGUST 2025

Pension schemes

Since the School left the Teachers’ Pension Scheme on 31 August 2020, the School contributes to defined contribution schemes for both teaching and non-teaching staff. All pension costs are charged against unrestricted funds.

VAT

Following changes in legislation, the provision of education by independent schools became subject to VAT at the standard rate partway through the financial year. The school now applies VAT to tuition and boarding fees in accordance with HMRC guidance.

Taxation

The School has charitable status and, therefore, there is no liability to taxation on income or capital gains which are applied for charitable purposes.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation. The charity has taken advantage of the transitional provisions of FRS102 and the valuation of freehold properties at the date of transition to FRS102 has been treated as deemed cost.

Only items greater than £2,000 in value are capitalised.

Depreciation is provided to write off the cost or valuation, less estimated residual values, of fixed assets, except freehold land, over their expected useful lives on a straight-line basis. It is calculated at the following rates:

Permanent freehold buildings	10-50 years
Motor vehicles	4-10 years
Furniture and equipment	5-15 years
Computer equipment	2-5 years

Buildings in the course of construction are not depreciated until brought into use.

Intangible assets and amortisation

Intangible fixed assets are stated at cost less accumulated amortisation. There is no standard value above which an item is capitalised. Expenditure is considered and a decision made whether it is of a capital nature.

Amortisation is provided to write off the cost or valuation, less estimated residual values, of intangible fixed assets over their expected useful lives on a straight-line basis. It is calculated at the following rate:

Software

4 - 10 years

Investments and investment income

Investments are included at closing mid-market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities. Investment income is accounted for in the period in which the charity is entitled to receipt.

Stock

Stock is valued at the lower of cost and net realisable value.

42

WELLINGTON SCHOOL 1837

STATEMENT OF ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 AUGUST 2025

Advance fees scheme

The School offers parents the opportunity to pay for up to seven years tuition fees in advance in accordance with a written contract. This is treated as deferred income until the pupil joins the School whereupon the fees for each school term are charged against the remaining balance and taken to income. Any shortfall is treated as a finance cost and any excess is accrued as additional school income.

Debtors

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

Cash and cash equivalents

Cash and cash equivalents include cash in hand and held with banks and other short-term deposits.

Creditors

Creditors are initially measured at the transaction price.

Financial instruments

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value or fair value depending on the nature of the financial instrument. Loans are measured at amortised cost.

Investment Properties

Investment properties are land and buildings held for rental income or capital appreciation rather than for operational use. They are initially recognised at cost, including transaction costs, and subsequently measured at fair value, with changes recognised in the Statement of Financial Activities. Fair values are reviewed annually by independent valuers using market evidence.

Critical accounting judgements and estimation uncertainty

The preparation of the financial statements requires the Governors to make judgements, estimates and assumptions that affect the application of accounting policies and the amounts recognised in the financial statements. Estimates and judgements are reviewed on an ongoing basis and are based on the historical experience and other relevant factors.

Useful economic lives on intangible and tangible assets

The annual amortisation and 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 technological advancement, future investments, economic utilisation and the physical condition of the assets. See page 39 for the useful lives for each.

Impairment of debtors

The group makes an estimate of the recoverable value of fee debtors, trade and other debtors. When assessing the impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See Note 8 for the net carrying amount of the debtors and associated impairment provision.

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WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 FEES

Fees receivable consist of: Fees: Day Boarding Prep School Less: Scholarships and fee remissions	2025 £ 11,103,132 5,360,439 2,282,184 18,745,755 (2,883,967) 15,861,788	2024 £ 11,051,690 6,490,235 2,225,149
		19,767,074 (2,868,487)
		16,898,587

All scholarships and fee remissions are granted to students of the school. No support costs are allocated to this activity.

2 OTHER INCOME

Other educational income Music Lessons Extra English tuition Ancillary trading School trips School meals Transport charges Other pupil charges Entrance and registration fees Fees in lieu Other ancillary income Other trading activities Wellington School Somerset Trading Company Café 37 Rents receivable Investment income Listed investments (all within the UK) Bank and other interest	2025 £ 109,687 50,468 160,155 188,545 404,032 394,734 336,151 13,717 56,030 221,074 1,614,283 188,239 82,779 23,272 294,290 123 131,204 131,327	2024 £ 108,158 30,671
		138,829
		347,763 418,644 377,696 306,698 24,539 90,392 314,210
		1,879,942
		241,230 87,282 5,200
		333,712
		261 50,263
		50,524

44

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2 OTHER INCOME (CONTINUED)

Donations Donations Other income CCF Grants Other income Old Wellington Subscriptions 3 EXPENDITURE Net income is stated after charging: Depreciation Depreciation – finance leases Amortisation Auditors' remuneration: Audit of the charity Audit of the subsidiaries Tax services Operating lease charges Interest on bank loans Total staff costs: Wages and salaries Social security costs Pension contributions		2025 £ 148,077 148,077 10,459 64,940 7,041 82,440 2025 £ 856,801 121,434 4,311 24,969 7,476 4,200 394,266 40,624 2025 £ 8,444,548 835,105 885,686 10,165,339	2024 £ 37,448
			37,448
			5,000 - 10,650
			15,650
			2024 £ 870,530 124,651 4,312 23,541 7,049 3,260 387,119 48,613
			2024 £ 8,071,308 720,868 862,249
			9,654,425

The average number of full-time employees in the year was 149 (2024:151) of which 77 ( 2024:80 ) were teaching staff including technicians.

The average number of part-time employees in the year was 98 (2024:122) of which 17 (2024:31) were teaching staff.

During the year termination payments of £175,180 (2024: £17,751) were paid.

During the year three of the Governors were reimbursed expenses amounting to £1,241 (2024: 3 Governors £1,104) in relation to travel expenses .

45

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

3 EXPENDITURE (CONTINUED)

The number of employees whose emoluments exceeded £60,000 were:

£60,000 - £70,000 £70,001 - £80,000 £110,000 - £120,000 £130,001 - £140,000 The number with retirement benefits accruing were: Defined contribution pension schemes Contributions to defined contribution pension schemes	2025 No. 15 3 1 - 19 £233,743	2024 No. 11 3 - 1
		15 £167,280

The remuneration of key management personnel, as defined in the Governors’ Report, in the year was £878,537 (2024: £868,942).

46

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4 ANALYSIS OF EXPENDITURE

Raising funds Financing costs Total for Charity Trading costs of subsidiary Investment management Total for Group Charitable activities Teaching costs Welfare Premises Support costs of schooling Total for Charity Support costs of Foundation Total for Group TOTAL EXPENDITURE Charity Group	Staff Costs £ - - - - - - 7,268,012 413,154 842,186 1,641,987 10,165,339 - 10,165,339 10,165,339 10,165,339	Other £ 371,160 371,160 47,483 790 - 419,433 1,929,134 1,644,921 2,110,463 1,264,962 6,949,480 10,295 6,959,775 7,320,640 7,379,208	Depreciation and amortisation £ - - 52,202 - 52,202 19,989 16,128 683,830 210,399 930,346 - 930,346 930,346 982,548	Total 2025 £ 371,160 371,160 99,685 790 471,635 9,217,135 2,074,203 3,636,479 3,117,348 18,045,165 10,295 18,055,460 18,416,325 18,527,095	Total 2024 £ 119,292
					119,292 112,244 425 231,961
					9,034,100 2,277,422 3,465,741 3,371,929
					18,149,192
					8,914
					18,158,106
					18,268,484
					18,390,067

Included within support costs are governance costs of £43,134 (2024: £40,260) which comprise the costs of administering the charity, audit and tax.

47

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

5 INTANGIBLE FIXED ASSETS

Group and Charity Cost 1 September 2024 31 August 2025 Amortisation 1 September 2024 Charge for the year 31 August 2025 Net Book Values 31 August 2025 31 August 2024	Total £ 75,002
	75,002
	65,609 4,310 69,919
	5,083
	9,393

48

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

6 TANGIBLE FIXED ASSETS

Group Cost 1 September 2024 Additions Transfers Disposals 31 August 2025 Depreciation 1 September 2024 Charge for the year Transfers Disposals 31 August 2025 Net Book Values 31 August 2025 31 August 2024	Freehold Land and Buildings £ 30,932,698 - (697,200) - 30,235,498 6,243,783 518,441 (147,218) - 6,615,006 23,620,492 24,688,915	Assets in the course of construction £ 19,563 97,869 (117,432) - - - - - - - - 19,563	Furniture and Equipment £ 4,218,440 208,717 117,432 (231,682) 4,312,907 2,149,897 441,588 - (213,093) 2,378,392 1,934,515 2,068,543	Motor Vehicles £ 222,911 17,120 - - 240,031 143,204 18,206 - - 161,410 78,621 79,707	Total £ 35,393,612 323,706 (697,200) (231,682)
					34,788,436
					8,536,884 978,235 (147,218) (213,093)
					9,154,808
					25,633,628
					26,856,728

The net carrying amounts of assets held under finance leases included in Furniture and equipment is £244,745 (2024: £384,768).

49

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

6 TANGIBLE FIXED ASSETS (CONTINUED)

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 Values 31 August 2025 31 August 2024	Freehold Land and Buildings £ 27,625,407 - - - 27,625,407 5,545,428 466,239 - 6,011,667 21,613,740 22,079,979	Assets in the course of construction £ 19,563 97,869 (117,432) - - - - - - - 19,563	Furniture and Equipment £ 4,213,822 208,717 117,432 (231,682) 4,308,289 2,145,280 441,588 (213,093) 2,373,775 1,934,514 2,068,543	Motor Vehicles £ 222,911 17,120 - - 240,031 143,204 18,206 - 161,410 78,621 79,707	Total £ 32,081,703 323,706 - (231,682)
					32,173,727
					7,833,912 926,033 (213,093) 8,546,852
					23,626,875
					24,247,792

Under the transitional provisions of FRS102, the valuation of the freehold land and buildings at the date of transition to FRS102 has been taken as deemed cost.

The net carrying amounts of assets held under finance leases included in Furniture and equipment is £244,745 (2024: £384,768).

50

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

7 INVESTMENT PROPERTIES

Group Market Value at 1 September Transfer from tangible fixed assets Increase/(decrease) in market value Market Value at 31 August Historical Cost Net Book Value INVESTMENTS Group Market Value at 1 September Purchases at cost Management fees Increase/(decrease) in market value Market Value at 31 August Listed on Stock Exchange Cash held for reinvestment	Total 2025 £ - 549,982 540,018 1,090,000 549,982 Total 2025 £ 237,660 150,000 (790) 31,899 418,769 417,843 926	Total 2024 £ - - -
		-
		- Total 2024 £ 116,180 100,000 (425) 21,905
		237,660
		235,943 1,717

8 DEBTORS

Fees Extras VAT on 2025/26 fees Prepayments Sundry debtors Amounts owed by subsidiary undertakings	Group 2025 2024 £ £ 4,665,271 187,468 231,283 236,305 893,523 - 300,804 358,462 60,475 63,221 - - 6,151,356 845,456	Charity 2025 2024 £ £ 4,665,271 187,468 231,283 236,305 893,523 - 298,352 358,462 40,778 8,328 61,635 147,498 6,190,842 938,061	Charity 2025 2024 £ £ 4,665,271 187,468 231,283 236,305 893,523 - 298,352 358,462 40,778 8,328 61,635 147,498 6,190,842 938,061
			938,061

Fees debtors are stated after impairment provisions totalling £99,741 (2024: £29,282). The significant increase in debtors at the year-end is attributable to the implementation of VAT on autumn term fees. Under the new VAT requirements, income received in advance for the forthcoming autumn term is now deferred and recognised as a liability until the term commences. Previously, such receipts were applied to reduce the parent ledger control account and income was adjusted accordingly. This change results in higher receivables at the reporting date.

51

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

9 CREDITORS: due within one year

Bank Overdraft Bank loans (see note 10) Fees received in advance for 2025/26 Trade creditors Accruals & Other Creditors Deferred Income Student Deposits Taxation and social security Amounts owed to subsidiary undertakings Advance fees (see note 11)	Group 2025 £ 425,322 941,287 1,699,130 472,966 798,254 4,459,716 683,966 1,148,585 - 10,629,226 1,652,589 12,281,815	2024 £ - 94,026 3,906,778 667,497 518,711 - 831,851 230,064 - 6,248,927 1,814,683 8,063,610	Charity 2025 2024 £ £ 425,322 - 941,287 94,026 1,699,130 3,906,778 470,173 661,867 787,776 507,540 4,459,716 - 683,965 831,851 1,143,510 219,548 45,654 41,800 10,656,533 6,263,410 1,652,589 1,814,683 12,309,122 8,078,093	Charity 2025 2024 £ £ 425,322 - 941,287 94,026 1,699,130 3,906,778 470,173 661,867 787,776 507,540 4,459,716 - 683,965 831,851 1,143,510 219,548 45,654 41,800 10,656,533 6,263,410 1,652,589 1,814,683 12,309,122 8,078,093
				6,263,410 1,814,683
				8,078,093

Student deposits are received as new pupils begin their tuition at the School. This amount becomes repayable on their departure.

10 CREDITORS: due after more than one year

0 CREDITORS: due after more than	one year
Bank loans Advance fees (see note 11) Other Creditors Other loans	Group 2025 2024 £ £ - 941,287 1,699,546 3,367,675 240,029 374,334 - - 1,939,575 4,683,296	Charity 2025 2024 £ £ - 941,287 1,699,546 3,367,675 240,021 374,335 - 38,000 1,939,567 4,721,297
			4,721,297

Bank loan maturity statement

Group and School Within 1 year Within 1 to 2 years Within 2 to 5 years After 5 years	2025 £ 941,287 - - - 941,287	2024 £ 94,026 97,949 318,949 524,389
		1,035,313

A fixed rate bank loan of £941,287 is outstanding at 31 August 2025. The loan was taken out November 2018 and is repayable over 15 years. It is fixed at a rate of 4.09% inclusive of margins. The bank loans facility is secured by a charge over the Charity’s assets. At year-end, one of the loan covenants was not met, and a waiver had not been obtained from the bank. Consequently, the loan has been classified as due within one

52

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

year in accordance with reporting requirements. The School continues to maintain a constructive relationship with the lender and anticipates that the facility will remain available to support ongoing operations.

11 ADVANCE FEES

Parents may enter into a contract to pay the School up to the equivalent of seven years’ tuition fees in advance. The money may be returned to subject to specific conditions on the receipt of one terms’ notice. Assuming pupils will remain in the School, advance fees will be applied as follows:

Group and School Within 1 year Within 1 to 2 years Within 2 to 5 years After 5 years	2025 £ 1,652,589 825,429 690,190 183,927 3,352,135	2024 £ 1,814,683 1,665,271 1,450,611 251,793
		5,182,358

The advance fees balance represents the accrued liability under the contracts. The capital movements during the year were:

Group and School At 1 September VAT paid on existing contracts New contracts Amounts utilised in payment of fees to the School Discounts applied Amounts refunded At 31 August	2025 £ 5,182,358 (5,980) 104,242 (1,933,968) 123,522 (118,039) 3,352,135	2024 £ 1,989,922 - 4,067,227 (910,690) 49,216 (13,317)
		5,182,358

12 SECURED DEBTS

The following secured debts are included within creditors:

	2025	2024
	£	£
Bank loans	1,366,609	1,035,313

The bank loans and overdraft facility are secured by a charge over the Charity’s assets.

53

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

13 ALLOCATION OF NET ASSETS OF CHARITY AND GROUP

The net assets are held for the various funds and advance fees as follows:

2025 Group Restricted Funds Unrestricted Funds Charity Restricted funds Unrestricted funds 2024 Group Restricted Funds Unrestricted Funds Charity Restricted funds Unrestricted funds		Fixed Assets £ 2,680,000 24,467,480 27,147,480 £ - 23,631,959 23,631,959 Fixed Assets £ 2,860,215 24,243,566		Net Current Liabilities £ 230,380 (2,072,380) (1,842,000) £ 16,964 (2,046,477) (2,029,513) Net Current Liabilities £ (62,494) 670,732 608,238 £ 13,693 373,314 387,007		Long Term Liabilities £ - (1,939,575) (1,939,575) £ - (1,939,567) (1,939,567) Long Term Liabilities £ - (4,683,296) (4,683,296) £ - (4,721,297) (4,721,297)	Long Term Liabilities £ - (1,939,575) (1,939,575) £ - (1,939,567) (1,939,567) Long Term Liabilities £ - (4,683,296) (4,683,296) £ - (4,721,297) (4,721,297)	Total 2025 £ 2,910,380 20,455,525
								23,365,905
								£ 16,964 19,645,915
								19,662,879
						Long Term Liabilities £ - (4,683,296) (4,683,296) £ - (4,721,297) (4,721,297)		Total 2024 £ 2,797,721 20,231,002 23,028,723 £ 13,693 19,909,202 19,922,895
		27,103,781
		£ - 24,257,185
		24,257,185

54

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

13a RESTRICTED FUNDS

Forest School Passmore Memorial Fund Hardship Fund Fundraising Friends CCF The Wellington School Foundation	Balance Balance 1 September 31 August 2024 Income Expenditure Investment Gains Transfers 2025 £ £ £ £ £ £ 2,000 1,000 (519) - - 2,481 1,268 - - - - 1,268 1,984 100 - - - 2,084 3,229 - - - - 3,229 83 - (60) - - 23 5,128 10,459 (7,708) - - 7,879 2,784,029 146,904 (11,086) 31,899 (58,330) 2,893,416
	2,797,721 158,463 (19,373) 31,899 (58,330) 2,910,380

The transfer of £58,330 represents the net effect of the consolidation adjustments.

Passmore Memorial Fund - a long standing fund to be used for speakers for maths lectures.

Hardship Fund – a fund created to financially assist existing pupils whose family financial circumstance have changed.

Passmore Memorial Fund Hardship Fund Wellington School 1837 other restricted funds The Wellington School Foundation	Balance Balance 1 September 31 August 2023 Income Expenditure Investment Gains Transfers 2024 £ £ £ £ £ £ 1,268 - - - - 1,268 1,384 600 - - - 1,984 9,249 7,000 (5,809) - - 10,440 2,741,890 10,109 (9,338) 21,905 19,463 2,784,029
	2,753,791 17,709 (15,147) 21,905 19,463 2,797,721

The transfer of £19,463 represents the net effect of the consolidation adjustments.

Passmore Memorial Fund - a long standing fund to be used for speakers for maths lectures.

Hardship Fund – a fund created to financially assist existing pupils whose family financial circumstance have changed.

55

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

13b UNRESTRICTED FUNDS

Group Revenue reserve Revaluation reserve Foundation subsidiary Trading subsidiary Charity Revenue reserve Revaluation reserve	Balance 31 August 2024 Income Expenditure Transfers £ £ £ £ 4,978,380 17,945,658 (18,460,240) 332,860 15,190,374 - - (144,000) 42,959 - - - 19,289 188,239 (47,482) (130,530)	Balance 31 August Gains/(losses) on investments 2025 £ £ - 4,796,658 540,018 15,586,392 - 42,959 - 29,516
	20,231,002 18,133,897 (18,507,722) 58,330	540,018 20,455,525
	4,524,993 18,317,979 (18,581,269) 144,000 15,384,209 - - (144,000)	- 4,405,703 - 15,240,209
	19,909,202 18,317,979 (18,581,269) -	- 19,645,912

A transfer of £58,330 represents the net effect of the consolidation adjustments.

Group Revenue reserve Revaluation reserve Foundation subsidiary Trading subsidiary Charity Revenue reserve Revaluation reserve	Balance Balance 31 August 31 August 2023 Income Expenditure Transfers 2024 £ £ £ £ £ 3,597,182 19,095,753 (18,328,822) 614,267 4,978,380 15,622,374 - - (432,000) 15,190,374 42,959 - - - 42,959 25,887 241,230 (46,098) (201,730) 19,289
	19,288,402 19,336,983 (18,374,920) (19,463) 20,231,002
	3,080,862 19,449,938 (18,437,807) 432,000 4,524,993 15,816,209 - -(432,000) 15,384,209
	18,897,071 19,449,940 (18,437,807) - 19,909,202

56

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

14 OPERATING LEASE COMMITMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

		Group		Charity
	2025		2024	2025	2024
	£		£	£	£
Within 1 year	209,818		250,332	381,150	421,664
Between 1 to 5 years	69,935		327,665	755,262	1,012,993
After 5 years				342,664	513,996

15 FINANCE LEASE COMMITMENTS

Minimum lease payments under finance leases fall due as follows:

		Group		Charity
	2025		2024	2025	2024
	£		£	£	£
Within 1 year	121,147		110,345	121,147	110,345
Between 1 to 5 years	248,095		384,953	248,095	384,953

16 PENSIONS

The pension charge for the year represents the School's contributions to defined contributions schemes of £885,686 (2024: £862,249}.

All pension charges are charged to unrestricted funds, in line with the fund out of which wages and salaries are paid.

17 SUBSIDIARY UNDERTAKINGS

The financial statements consolidate the results of Wellington School 1837 and its subsidiary undertakings, The Wellington School Foundation and Wellington School (Somerset) Trading Company Limited. The results of the subsidiary undertakings are summarised below.

57

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

17a WELLINGTON SCHOOL (SOMERSET) TRADING COMPANY LIMITED

Some Officers, Governors and retired Governors of Wellington School hold shares as nominees in Wellington School (Somerset) Trading Company Limited and act as directors of the company. The company number is 03049392 and the registered office is Wellington School, Wellington, Somerset TA21 8NT. The company was established to conduct non-charitable trading activities on behalf of Wellington School. Surplus income of the company is passed up to Wellington School by Gift Aid.

During the year Wellington School 1837 invoiced Wellington School (Somerset) Trading Company Limited £98,197 (2024: £122,597) in respect of administrative expenses. Gift aided profits of £51,408 (2024: £75,920) were gifted to the school. At the year-end a balance of £nil (2024: £147,498) was due to the school and a balance of £nil (2024: £nil) was due from the school to Wellington School (Somerset) Trading Company Limited.

The following is a summary of the financial position of the company extracted from the accounts for the year end 31 August 2024 which have been consolidated into these financial statements.

Balance Sheet Fixed assets Current assets Current liabilities Long term liabilities Called up share capital Reserves Profit and Loss Account Turnover Direct costs and administrative expenses	2025 £ - 94,960 (75,055) - 19,905 6 19,899 19,905 2025 £ 188,239 (136,831) 51,408	2024 £ - 192,308 (172,403) -
		19,905
		6 19,899
		19,905
		2024 £ 241,230 (168,695)
		72,535

58

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

17b THE WELLINGTON SCHOOL FOUNDATION

The Governors of Wellington School can nominate five of the six trustees of The Wellington School Foundation which is a charitable company limited by guarantee, company number 05176879, charity number 1105256. The registered office is Wellington School, Wellington, Somerset TA21 8NT. The main objects of The Foundation are as follows:

• i) To promote the charitable work of Wellington School.

• ii) To further the education and the advancement in life of present and past pupils of Wellington School through the provision of scholarships, bursaries and grants.

• iii) To preserve for the benefit of the public the School Chapel and such other parts of the School site as are worthy of preservation in view of their historical, architectural or environmental significance.

• iv) To promote the education principally, but not exclusively, of persons resident or working in Wellington and its environs through the provision of teaching and the facilities for learning.

• v) To promote community participation in healthy recreation for the benefit of persons resident or working in Wellington and its environs by the provision of instruction and facilities for the same.

The Wellington School Foundation received rent of £171,332 (2024: £171,332) , donated £220,000 (2024: £144,000) to the School for bursaries and donated £nil (2024: £500) for prizes. During the year, £13,875 (2024: £19,116) was invoiced to The Wellington School Foundation for salaries and other administrative expenses. At the year-end, a balance of £5,754 (2024: £nil) was due from the School and a balance of £nil (2024: £nil) was due to the School. During the 2019/20 financial year, The Wellington School Foundation made a loan of £190,000 to Wellington School 1837 which is being repaid in five annual instalments from September 2021. The balance at the year-end was £38,000 (2024: £76,000 ). Interest of £1,900 (2024: £3,800) was accrued at year-end

The following is a summary of the financial position of The Foundation extracted from the accounts for the year ended 31 August 2025 which have been consolidated into these financial statements.

Balance Sheet Fixed asset investments Current assets Current liabilities Restricted funds Unrestricted funds Statement of Financial Activities Income Expenditure Investment gains Net income and movement in funds	2025 £ 3,098,769 172,535 (4,929) 3,266,375 3,223,416 42,959 3,266,375 2025 £ 320,136 (242,648) (148,316) (70,828)	2024 £ 3,097,875 244,954 (5,626)
		3,337,203
		3,294,244 42,959
		3,337,203
		2024 £ 185,241 (165,007) 21,905
		42,139

59

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

17c WELLINGTON SCHOOL INTERNATIONAL LTD

Wellington School has a 100% shareholding in Wellington School International Ltd. In the year Wellington School International Ltd did not trade and has no assets or liabilities at the balance sheet date.

18 RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net Income Net interest expense (Gain)/loss on investments (Gain)/loss on reclassification Investment income Investment management fee Depreciation charges Amortisation charges VAT adjustment on leased fixed assets VAT adjustment on fees paid in advance Loss/(profit) on disposal of fixed assets Decrease/(increase) in stocks (Increase) in debtors Increase in creditors Net cash provided by operating activities	2024 £ 337,182 194,559 (31,899) (540,018) (131,327) 790 978,235 4,310 18,591 (5,980) - 5,574 (846,184) (1,486,305) (1,502,472)	2024 £ 986,530 136,844 (21,905) - (50,524) 425 995,179 4,312 - - - 5,862 (105,925) 888,969
		2,839,767

The gain on reclassification relates to the transfer of certain properties from tangible fixed assets to investment properties during the year. In accordance with FRS 102, these properties were remeasured at fair value on the date of reclassification, resulting in a gain of £540,018, which is presented within the reconciliation of net income/(expenditure) to net cash flow from operating activities.

60

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

19 CASH AND CASH EQUIVALENTS

The amounts disclosed in the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these balance sheet amounts:

Cash at bank and in hand Bank overdraft	2025 £ 4,279,109 (425,322) 3,853,787	2024 £ 7,811,468 -
		7,811,468

61

WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

20 RECONCILIATION OF NET DEBT

21 RELATED PARTIES Cash at bank and in hand Bank Overdraft Loans falling due within one year Loans falling due after more than one year Finance lease obligations	Balance 1 September 2024 £ 7,811,471 - (94,025) (941,287) (484,680) (1,519,992) 6,291,479	Cash flows £ (3,532,362) (425,322) (3,923) 97,948 123,512 217,537 (3,740,147)	Balance 31 August 2025 £ 4,279,109 (425,322)
			(97,949) (843,338) (361,168)
			(1,302,455)
			2,551,332

During the year three of the Governors were reimbursed expenses amounting to £1,241 (2024: 3 Governors £1,104) in relation to travel expenses .

One of the governors was paid £3,991 (2024: £3,219) as an Exams Invigilator.

No other governors have been paid remuneration or has received other benefits from an employment with their charity or a related entity in the current or previous financial year.

One governor had a child at the school who was in receipt of exhibitions and a scholarship. These awards are on arms-length terms.

The Wellington School Foundation received rent of £171,332 (2024: £171,332) , donated £220,000 (2024: £144,000) to the School for bursaries and donated £nil (2024: £500) for prizes. During the year, £13,875 (2024: £19,116) was invoiced to The Wellington School Foundation for salaries and other administrative expenses. At the year-end, a balance of £5,754 (2024: £nil) was due from the School and a balance of £nil (2024: £nil) was due to the School. During the 2019/20 financial year, The Wellington School Foundation made a loan of £190,000 to Wellington School 1837 which is being repaid in five annual instalments from September 2021. The balance at the year-end was £38,000 (2024: £76,000 ). Interest of £1,900 (2024: £3,800) was accrued at year-end.

Wellington School 1837 invoiced Wellington School (Somerset) Trading Company Limited £98,197 (2024: £122,597) in respect of administrative expenses. Gift aided profits of £51,408 (2024: £75,921) were gifted to the school. At the year-end a balance of £61,636 (2024: £147,498) was due to the school and a balance of £nil (2024: £nil) was due from the school to Wellington School (Somerset) Trading Company Limited

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WELLINGTON SCHOOL 1837

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

22 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31 AUGUST 2024

INCOME Charitable activities School fees Other educational income Ancillary trading Other trading activities Investment income Donations and legacies Other income Total income EXPENDITURE Raising funds Charitable activities Total expenditure Net income/(expenditure) before investment losses Net losses on investments NET INCOME/(EXPENDITURE) Transfers NET MOVEMENT IN FUNDS Funds Balances Carried Forward at 1 September 2023 Fund Balances Carried Forward at 31 August 2024	Unrestricted Funds Revenue Revaluation £ £ 16,898,587 - 138,829 - 1,879,942 - 333,712 - 50,263 - 25,000 - 10,650 - 19,336,983 - 231,536 - 18,143,384 - 18,374,920 - 962,063 - - - 962,063 - 412,537 (432,000) 1,374,600 (432,000) 3,666,028 15,622,374 5,040,628 15,190,374	Restricted Funds £ - - - - 261 12,448 5,000 17,709 425 14,722 15,147 2,562 21,905 24,467 19,463 43,930 2,753,791 2,797,721	Total Funds 2024 £ 16,898,587 138,829 1,879,942 333,712 50,524 37,448 15,650
			19,354,692
			231,961 18,158,106
			18,390,067
			964,625 21,905
			986,530 -
			986,530 22,042,193
			23,028,723

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