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2025-08-31-accounts

Charity registration number: 1170355 Company registration number: 09993570

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

COMPANY LIMITED BY GUARANTEE

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

CONTENTS

Page
Trustees' report 1
Auditors' report 12
Statement of Financial Activities 16
Balance sheet 17
Statement of Cash Flows 18
Notes to the financial statements 19

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Charity name: Landmark International School Charity registration number 1170355 Company registration number Trustees 09993570

Trustees

Mr Martin Beazor Appointed as Chair 20/04/20 Mr John Barrett Appointed 18/12/18 Mr Mark Dawes Appointed 31/03/20 Mr Stuart Harris Appointed 19/08/25 Mr Andrew Rand Appointed 21/09/20 Richard Brent Appointed 30/09/21 Resigned 19/08/25 Linda Dennis Appointed 30/03/20 Resigned 30/09/25 Mrs Gill Owen Appointed 03/10/25

Registered office

The Old Rectory 9 Church Lane, Fulbourn, Cambridgeshire CB21 5EP

Key Management Personnel

Gareth Turnbull-Jones Headteacher Sabine Kite Bursar Carine Bennett Head of Primary and Designated Safeguarding Lead Sue Hilton-Taylor Head of Secondary Jenna Fritz Primary Years Programme Coordinator Georgie Palfrey SENDCo Penny Roche Secondary Years Programme Coordinator and Designated Safeguarding Lead

Auditors

Price Bailey LLP Chartered Accountants & Statutory Auditors Tennyson House Cambridge Business Park Cambridge CB4 0WZ

Bankers

Barclays Bank plc Leicester LE27 2BB

Page 3

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees of Landmark International School, Cambridge are pleased to present their annual report for the financial year ended 31st August 2025. The Trustees report is considered to be the directors’ report as required by company law.

OBJECTIVES AND ACTIVITIES

Landmark International School, Cambridge was formed in 2016 and is an independent school based just outside Cambridge in the village of Fulbourn. It offers a high-quality, caring and creative education within an international context.

The school was set up by a group of like-minded parents and a member of staff whose children were already in the independent international school system but who wanted a greater say in shaping the ethos and delivery of the type of education that they wanted for their children.

The school opened in September 2016 with 40 students. During its first academic year, the school provided classes for Year 2 to Year 11 for children between the ages of six to sixteen. In the academic year 2024/25 the school catered for children aged 4 to 16. The school did in January 2024 obtain planning permission to expand to a maximum capacity of 125 students.

The school’s objects as set out in the Articles of Association dated 5th February 2016 are specifically restricted to promoting the education (including social and physical training) for the public benefit of people under the age of 25 years in such ways as the trustees think fit, including by:

Vision and Mission

Landmark International School’s vision is to have a caring community that nurtures creativity and inspires global citizens. The mission of the school is to provide a human-centred approach to learning, ensuring that each individual is nurtured to be self-directed creative thinkers that contribute to making their communities and the world around them a better place.

Aims and objectives

The overall aim of the school is to create a friendly community environment in which British and international children can learn and develop. It aims to deliver an individualised educational programme for each student, focusing on the development of a child’s self-confidence by nurturing their academic talents and interests.

The school has the following objectives:

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Activities

Academic

Landmark International School is both an International Baccalaureate World School and a Cambridge Assessment International Education School. To support an international curriculum throughout the school the school offers two international curriculums. In the primary school we offer the International Baccalaureate Primary Years Programme (IBPYP) and in the secondary school we are a candidate school for the International Baccalaureate Middle Years Programme (IBMYP) and offer the opportunity to do International GCSEs across a broad range of subjects.

In the primary we follow a holistic model of learning using themes to support our students in understanding the connections of their learning to the world around them. Using the framework of the IBPYP, students explore a range of relevant, engaging and universal themes through conceptual lenses. Learning is led through inquiry with a focus on student voice, choice and agency, leading to meaningful action.

In each year of Primary, the students will explore relevant and engaging themes through a transdisciplinary approach to learning. The subject areas are integrated in order to enable authentic and relevant experiences, developing meaningful connections to their learning. Students have the opportunity to build their conceptual understandings, knowledge and skills through the six themes:

In the primary students develop an in-depth knowledge in subjects so in addition to the topics we use resources to support the students’ learning. For example in mathematics we use White Rose Maths and In English we use elements of the national curriculum and start our reading and writing journey with Supersonic Phonic Friends.

In the lower secondary (year 7-9) we are a candidate school for the IBYP. We teach in disciplines and work closely together to make interdisciplinary connections. The syllabus for the individual subjects is developed by the teachers to best suit the student needs, ensure the curriculum is relevant to events that are occurring in the world around them and prepare them for the next steps in their education. This is done through using resources such as the national curriculum, Cambridge Lower Secondary Curriculum and White Rose Maths to best support our choices in creating a rich curriculum for our students. In addition to the more traditional subjects we enrich learning through additional classes such STEM and Global Discussions, in which students are provided with choice around what they learn.

In the upper secondary (year 10 and 11) students work towards CIE IGCSE and JCQ GCSE qualifications. We support our students in finding the best combination of subjects for them. In addition, students have the opportunity to develop more vocational skills through ASDAN courses.

Throughout the primary and secondary in keeping with the international outlook of the school, a range of language options is offered to students including Mandarin, Spanish and French. Overseas students are offered ‘home and family language instruction’ classes to help them acquire literacy and other skills in their first language. For students needing extra help with their English, the school offers lessons with TEFL qualified teachers in English as an additional language, and intensive tuition in English if this is necessary.

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The wider curriculum

Music, art and drama are part of the school’s extracurricular offer. In addition, peripatetic music teachers visit the school for individual instrumental and singing lessons.

Sport is an important part of school life and students are given the opportunity to try a broad range both as part of the physical education curriculum and as extra-curricular clubs at lunchtimes and after school. These include football, tennis, badminton, netball, squash, cricket, hockey and swimming. Lessons take place at the local sports facilities in Fulbourn as well as in Cambridge. Other activities such as martial arts take place in the school hall.

The school offers wraparound care from 7.30am to 5.30 pm in term-time. After school activities include football, chess, drama and art.

Charitable Activities

The school is a registered charity which means that every penny is invested entirely into the education of its children and provides for the future development and stability of the school. In setting its objectives and planning its activities, the school has given careful consideration to the Charity Commission’s public benefit guidance.

With this in mind, the school has the following public benefit objectives:

The school has put into place a means-tested bursary scheme to assist as many families as practicable. The aim is to try and ensure that any child who it is thought would benefit from the small learning environment is not prohibited from attending because of financial circumstances.

Criteria for success

In order to measure success of the school, the following measures are taken into consideration:

Working with the Local Community and Public Benefit

The school has contracted with a number of local tradespeople and other business people. We currently use the local facilities to help us stock our catering facility. The school makes regular use of the local sports facilities in the village. Notices for job vacancies are posted on the Fulbourn Facebook page and in publications in the surrounding villages. We provide over 50 jobs to the community, which in turn support the local economy.

The school works diligently to ensure that school traffic is kept to a minimum and actively encourages more sustainable travel for staff and students. Staff, parents and visitors are instructed to park their vehicles within the school grounds and not on residential roads. Transport to and from school is provided by two minibuses for students in Cambridge and the surrounding villages, which reduces congestion during drop-off and pick-up at the site.

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Students, staff and parents have worked together to raise funds for charities such as Children in Need Sport Relief, Mind over Cancer and a local charity Fulbourn for youth. It is hoped that by setting a good example as a school, it can help to influence the expectations and behaviour of its students as future citizens, active members of the community, and leaders.

Grant making policy

A means tested bursary scheme has been put in place to encourage applications from students who would not otherwise be able to attend the school. This scheme forms part of the school's ambition to offer the advantages of small classes, excellent teachers, strong wellbeing support and a truly international environment to a broader range of families.

The school has a bursary policy and it is important to trustees to be able to offer subsidised places as part of its commitment to equality of opportunity and as part of the school’s public benefit. This is also in line with the school’s charitable objectives. Bursaries are available for students whose parents meet certain income thresholds.

Long term objectives

In the long term, the school aims to continue being able to provide education for the foreseeable future. In order to achieve this, the school would like to continue to increase awareness of its presence and offering in the local Cambridge area as well as internationally, through connections with the International Baccalaureate and other international schools. Relationships with relocation agencies and educational agencies have been formed which are helping to build the school's reputation. The school has worked hard to become a valued member of the local community and has been forging links with local businesses, the community centre which it rents for sporting facilities and by using the local shops and services. The school also aims to build reserves to be able to continue in existence in the long term.

ACHIEVEMENTS AND PERFORMANCE

Achievements 2024/2025

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW Fees and Bursaries

The termly fees for 2024/2025 were as follows:

Reception & Year 1 &2 £4,634 Years 3,4,5,6 £5,245 Years 7,8,9 £6,070 Years 10,11 £6,548

Additional fees are charged for family language lessons, additional English language lessons, additional special educational support, and some extracurricular activities as well as residential school trips. Daily hot lunch is included in the fees but there is an additional charge for minibus travel to and from school.

The number of bursaries offered in the year was 5 students with an annual combined value of £60,490, a decrease on the previous year. Bursaries awarded during the year are disclosed in note 4.

Going concern

Unrestricted free reserves of the school at the year end, being unrestricted funds less fixed assets, were in surplus by £232,043.

The trustees have considered a period of 12 months after the approval of these financial statements and believe there is sufficient cash and funds to continue operation on a going concern basis.

As VAT was implemented on school fees in January 2025, the school faced having to pass the cost on to parents and the worry of losing parents due to the increasing fees. Our families have been incredibly supportive and the school is still in a position where student numbers have increased over the last 12 months and continue to do so with strong enquiries which are ongoing.

The school continues to face rising costs such as utilities and food costs. Despite this, student numbers have remained positive and the school has a strong list of enquiries for 2025 and beyond. The school’s reputation has grown and there is more awareness of the provision the school offers within the Cambridgeshire community; this has caused the number of enquiries to rise considerably.

Given the school’s increasing reputational status, the recent positive Ofsted inspection and expansion of the International Baccalaureate curriculum into the secondary school, the positivity of our parent body, the school is confident that it will be in a positive financial position throughout the forthcoming year.

Financial results

FOR THE YEAR ENDED 31 AUGUST 2025

In the 2024/2025 academic year the school reported a surplus £57,613 compared to a deficit of £24,089 in 2023/24.

The trustees continually monitor the school’s solvency as part of their on-going risk assessment procedures and ensure that they follow the guidance specified in Charity Commission publication cc12. The school is required to have a statutory audit as its revenue has exceeded £1m in the current year.

In the academic year 2024/2025 the fee income was sufficient to cover direct expenditure on educational activities. This was due to careful financial management and a further increase in student numbers.

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

At the year end the school had total funds of £487,488, all of which were unrestricted.

Unrestricted free reserves of the school at the year end, being unrestricted funds less fixed assets, totalled £232,043.

As a charity, in the 2024/2025 year the school received part year tax exemption as well as an 80% reduction on business rates. This changed in January 2025 when 20% VAT required to be applied to school fees and other benefits such as Business rates relief were cut as well as employer National Insurance contributions were increased.

Reserves Policy

The trustees recognise the need for prudent financial management of the school’s resources and for building reserves over time to meet its immediate objectives and protect its current activities.

The aim is to build reserves to a position sufficient to cover one term’s costs, which, as per Landmark’s current budget forecast, is currently £697,540. The current free reserves position is £487,488 as per Note 11.

RISK MANAGEMENT

The principal risks that the school faces are:

VAT

VAT was introduced on school fees in January 2025. Families were extremely supportive of the school and the school did not experience any student losses as a consequence of VAT being implemented on school fees. The school will continue to work on a steady stream of student intake and keep student numbers secure.

Business Rates

Significant changes in the October 2024 Budget identified that private schools would lose the Charitable Rates relief from April 2025. The school had planned for this and made changes to the Budgets to ensure this was accounted for.

Energy Crisis

The School and the Trustees are monitoring the ongoing energy crisis and looking at ways to reduce costs. Staff and children are encouraged to turn lights off and reduce energy where possible. The school has changed lighting to LED lights and has put room sensors in rooms that have a tendency to be left on such as toilets and offices.

Continuous flow of student numbers

Potential student numbers are monitored on a weekly basis by the SLT and are reported to the Trustees at each Trustee meeting. The school’s reputation has grown and the school remains in a strong position for recruiting new students from all backgrounds including an increasing number of international students.

PLANS FOR FUTURE PERIODS

The Trustees and the school management team are looking at ways to bring in additional revenue during the school year when the children are on holiday. The school continues to work on relationships with the local community and other sources to rent out the building whenever possible.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure

The school is a company limited by guarantee and a registered charity governed by its memorandum and articles of association.

Page 9

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Key Personnel

Decisions on the day-to-day running of the school are taken by the Senior Leadership Team (SLT) which consists of the Headteacher, Bursar, Head of Secondary, Head of Primary (DSL), Secondary Years Programme Coordinator (DSL) and Primary Years Programme Coordinator, SENDCo. The SLT meets weekly to discuss the operational aspects of the school.

Strategic decisions are taken by the trustees, who are responsible for monitoring the overall performance of the school and ensuring that it meets its financial, legal and other regulatory requirements.

Recruitment and Appointment of Trustees

New trustees are introduced to Landmark through contacts with existing trustees, advertisements or people the Trustees or School known through business links. The Board has a selection Committee who meet termly to discuss potential applicants. The school will continue to establish links with others in the educational sector, as well as approaching interested professionals from a variety of backgrounds in order to broaden the composition of the governing body.

Decision Making

Financial proposals, such as the budget and department budget allowances, are made together by the Headteacher and Bursar. Trustees are informed during trustee meetings of new staff and building works/improvements, however they are only involved in the decision making process when there is a significant financial impact as per the finance policy.

Remuneration

These decisions are made by the Trustees as a group, with input from the Headteacher and Bursar. The current salary of a new member of staff joining the school, together with national guidelines and affordability of the cost by the school and comparison with other schools' payments for similar roles would also be taken into account.

Fundraising

The school understands its duty to protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches and undue pressure to donate, but does not currently fundraise from the public or use any internal fundraisers or external fundraising agencies for either telephone or face-to-face campaigns and received no fundraising complaints during the year.

Related Parties

Trustees are aware of the requirements surrounding related party transactions and monitor this closely. All transactions with related parties require approval by the trustees. Related party transactions during the year are disclosed in note 14.

TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

financial statements, the Trustees are required to:

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

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons, who are Trustees at the time when this Trustees' report is approved, has confirmed that: So far as that the Trustees are aware, there is no relevant audit information of which the charitable company's auditors are unaware, and that

The Trustees have taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the charitable company's auditors in connection with preparing their report and to establish that the charitable company's auditors are aware of that information.

AUDITORS

Price Bailey LLP were reappointed as the charitable company’s auditors during the year.

SMALL COMPANY PROVISIONS

Martin Beazor

Chair of Trustees

In preparing this report, the Trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Trustees on .........................................and signed on their behalf by:

Martin Beazor Chair of Trustees

Page 11

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

Opinion

We have audited the financial statements of Landmark International School, Cambridge (the ‘charitable company’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities (incorporating an income and expenditure account), the Balance Sheet, the Statement of Cash Flows, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Page 12

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

Other information

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

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Annual Report.

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

Page 13

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

Responsibilities of Trustees

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

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

Auditor’s responsibilities for the audit of the financial statements

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

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

We gained an understanding of the legal and regulatory framework applicable to the charitable company and how it operates and considered the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. This included those regulations directly related to the financial statements. In relation to the charitable company this included GDPR, health and safety, employment law, safeguarding and financial reporting. We communicated the identified laws and regulations with the audit team and remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

INDEPENDENT AUDITORS' REPORT

TO THE MEMBERS OF LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and- assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-foraudit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor's report.

Use of this 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.

Suzanne Goldsmith FCA Senior Statutory Auditor

For and on behalf of PRICE BAILEY LLP Statutory Auditor Tennyson House Cambridge Business Park Cambridge CB4 OWZ

Date:

Page 15

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

Note
Income from:
Charitable activities
2
Other income
3
Total income
Expenditure on:
Charitable activities
4
Net (expenditure) / income
being net
movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
£
1,946,210
269
1,946,479
(1,888,866)
57,613
429,875
487,488		 Restricted
£
174,637
-
174,637
(174,637)
-
-
-		 Total funds
2025
£
2,120,847
269
2,121,116
(2,063,503)
57,613
429,875
487,488		 Total funds
2024
£
1,871,691
74
1,871,765
(1,895,854)
(24,089)
453,964
429,875

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

All of the above amounts relate to continuing activities.

The notes on pages 19 to 29 form part of these financial statements.

Page 16

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE REGISTERED NUMBER: 09993570

BALANCE SHEET AS AT 31 AUGUST 2025

Note
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank in hand
Creditors: amount falling due within one
year
9
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
10
Net assets
Funds
Unrestricted funds
11
Total charity funds		 635,432
591,277		 2025
£
255,445
268,763		 400,905
688,898		 2024
£
305,396
163,866
1,226,709
(957,945)		 1,089,803
(925,937)
524,208
(36,720)		 469,262
(39,387)
487,488 429,875
487,488 429,875
487,488 429,875

These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The financial statements were approved by the Trustees on ………………………………. and signed on their behalf by:

Martin Beazor Chair of Trustees

The notes on pages 19 to 29 form part of these financial statements.

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

STATEMENT OF CASH FLOWS FOR

THE YEAR ENDED 31 AUGUST 2025

Note
Cash flow from operating activities
Net (expenditure) / income for the year
Depreciation
Dividends, interest and rent from investments
(Increase) / decrease in trade and other debtors
Increase / (decrease) in trade and other creditors
Net cash flow from operating activities
Cash flow from investing activities
Dividends, interests and rents from investments
VAT reclaimed on pre-registration assets
Purchase of tangible fixed assets
Net cash flow from investing activities
Net (decrease) in cash and cash equivalents
Cash and cash equivalents at start of year
Cash and cash equivalents at end of year
12		 2025
£
57,613
29,608
269
(234,526)
29341		 2024
£
(24,089)
23,512
320
(66,322)
196,048
(117,695) 129,469
(269)
31,685
(11,342)		 (320)
-
(197,286)
20,074 (197,606)
(97,621)
688,898		 (68,137)
757,035
591,277 688,898

The notes on pages 19 to 29 form part of these financial statements.

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LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

1.1. GENERAL INFORMATION

The Landmark International School, Cambridge is a private charitable company limited by guarantee and is incorporated in England and Wales. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. There are currently six (2024 – six) trustees who are also the members of the charitable company.

The Charity’s registered address is The Old Rectory 9 Church Lane, Fulbourn, Cambridge, England, CB21 5EP, the Charity’s registered number is 1170355 and the Company registration number is 09993570.

1.2. BASIS OF PREPARATION

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements have been prepared in pounds sterling and are rounded to the nearest pound.

Landmark International School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

1.3. GOING CONCERN

The trustees have considered a period of 12 months after approval of these financial statements and believe there is sufficient cash and funds to continue operation on a going concern basis.

The school faces new challenges with the introduction of VAT to school fees, changes in NI and the increase in Business Rates. The school has been very careful at keeping abreast with these changes and ensuring that parents and other stakeholders are kept informed.

Student numbers have remained positive and enquiries are very strong for the immediate future and looking forward.

The school’s reputation continues to grow year on year and this is evident with the enquiries we receive not only from a local market but also overseas.

Page 19

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACOUNTING POLICIES (CONTINUED)

Given the school’s increasing reputational status, recent accreditation as an IB World School, the positivity of our parent body, as well as the analysis of risk of current families in relation to BREXIT, the school is confident that it will be in a positive financial position throughout the forthcoming year.

1.4. FUND ACCOUNTING

1.5. INCOME RECOGNITION

All income is included in the Statement of Financial Activities when the school is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

1.6. EXPENDITURE

All expenditure is accounted for on accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Page 20

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (CONTINUED)

1.7. FIXED ASSETS

All purchased fixed assets are initially recorded at cost.

Assets donated for use by the school are recognised as income when receivable and capitalised at their open market value.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold improvements - Over the term of the lease Summer works - Over the term of the lease Equipment - 3-12 years straight line

1.8. DEBTORS

Trade and other debtors are recognised at the settlement amount due after any discount or bursary offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accruing income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

1.9. CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10. CREDITORS

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

1.11. FINANCIAL INSTRUMENTS

The School only has financial assets and 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, which is at cost, with the exception of:

Page 21

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (CONTINUED)

1.12. PENSION COSTS

The school operates a defined contribution pension scheme. Pension costs charged in the Statement of Financial Activities represent contributions payable by the school in the year.

1.13. OPERATING LEASES

Operating leases are recognised over the period of which the lease falls due. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the period of the lease.

1.14. SIGNIFICANT ACCOUNTING ESTIMATES

In the application of the School’s accounting policies, which are described above, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

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

The Trustees do not consider that there are any key estimates nor any critical judgements. There are no key assumptions concerning the future, nor key sources of estimation uncertainty at the reporting date that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

1.15. TAXATION

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 22

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. INCOME FROM CHARITABLE ACTIVITIES

Fee income
Special Education Needs funding
Catering income
Mother tongue tuition fees
Minibus income
Exam entry fees
Sport lessons
Registration fees
Sundry income
Other support		 Unrestricted
Restricted
Total 2025
£
£
£
1,791,076
-
1,791,076
-
174,637
174,637
-
-
-
10,603
-
10,603
38,504
-
38,504
3,398
-
3,398
-
-
-
1,898
-
1,898
58,378
-
58,378
42,353
-
42,353		 Total 2024
£
1,604,107
131,261
8,344
11,634
25,594
8,356
(49)
3,500
53,888
25,056
1,946,210
174,637
2,120,847		 1,871,691

Income from charitable activities in 2024 amounted to £1,871,691 of which £1,946,210 related to unrestricted income and £131,261 to restricted income.

3. OTHER INCOME
Unrestricted Restricted Total 2025 Total 2024
£ £ £ £
Government support income 269 - 269 74

Page 23

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

4. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Staff costs including agency
Bursaries awarded
Rent, rates & utilities
Catering costs
Teaching resources
Professional fees
Minibus expenses
Insurance
Sports
Exam fees
IT & telephone
Repairs & maintenance
Training & recruitment
Finance costs
Advertising
Events
Depreciation
Trips
Sundry
Charitable donations
VAT Adjustment
Governance costs:
Audit fees		 Direct
costs
£
Support
costs
£
Total
2025
£
1,259,049
155,613
1,414,662
113,144
-
113,144
179,481
-
179,481
26,863
-
26,863
23,058
-
23,058
-
60,063
60,063
31,294
-
31,294
-
17,571
17,571
9,601
-
9,601
7,818
-
7,818
9,481
-
9,481
66,213
-
66,213
12,073
-
12,073
-
340
340
-
7,982
7,982
21
21
-
29,608
29,608
28,608
-
28,608
-
19,259
19,259
65
-
65
(5,952)
-
(5,952)
12,150
12,150		 Direct
costs
£
Support
costs
£
Total
2024
£
1,114,850
137,790 1,252,640
139,645
-
139,645
156,538
-
156,538
18,345
-
18,345
20,700
-
20,700
-
51,503
51,503
36,349
-
36,349
-
23,590
23,590
6,920
-
6,920
9,476
-
9,476
10,170
-
10,170
85,037
-
85,037
6,848
-
6,848
-
320
320
-
8,246
8,246
-
-
-
-
23,514
23,514
30,088
-
30,088
-
4,650
4,650
475
-
475
-
-
-
-
10,800
10,800
_ 1,760,817____ 302,686_ 2,063,503 1,635,441_260,4131,895,854

The school is considered to have only one activity, which is the provision of education services.

Page 24

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

5. STAFF COSTS

Wages
Social security
Pension costs		 2025
£
1,261,104
99,991
53,567
1,414,662		 2024
£
1,140,036
81,131
31,473
1,252,640

The average number of employees during the year, on head count basis, was as follows:

Teaching
Administrative and support
Management		 2025
£
18
23
8
49		 2024
£
18
19
8
45

During the year, the number of employees with employee benefits (excluding employer pension costs) of £60,000 or over was as follows:

2025 2024
£60,000 - £70,000 1 1

The school considers the key management personnel to be those detailed in the reference and administration information in the Trustee’s report. The total employee benefits of the key management personnel of the school were £455,526 (2024: £460,181) including employer’s national insurance contributions of £43,384 (£41,500) and employer’s pension contributions of £19,616 (2024: £13,407).

6. NET INCOME

Net (expenditure) / income is stated after charging:

2025 2024
£ £
Depreciation 29,608 23,512
Auditor remuneration – audit fees 9,575 8,500
Auditor remuneration – other services 2,575 2,300
Operating lease rentals – buildings 126,750 126,750
Operating lease rentals - other 27,792 162

Page 25

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

7. TANGIBLE FIXED ASSETS

Cost
Leasehold
Improvements
£
As at 1 August 2024
193,669
Transfer between classes
146,997
Additions
5,422
Disposals
-
VAT reclaimed on pre-registration
assets
(27,948)
As at 31 July 2025
318,140
Depreciation
As at 1 August 2024
55,884
Depreciation eliminated on
disposal
-
Charge for year
19,566
As at 31 July 2025
75,450
Net book value
As at 31 July 2025
242,690
As at 31 July 2024
137,785
 Summer
works
£
Equipment
£
146,997
40,078
(146,997)
-
-
5,920
-
(8,644)
-
(3,737)
-
42,261
-
19,464
-
(8,644)
-
10,042
-
20,862
-
12,755
146,997
20,614
 Total
£
380,744
-
11,342
(8,644)
(31,685)
351,757
75,348
(8,644)
29,608
96,312




255,445
305,396

The prior year category ‘Summer Works’ represented work in progress and was not depreciated. During the current year, these assets were brought into use and transferred to ‘Leasehold Improvements’, where they are now subject to depreciation in accordance with the School’s accounting policy.

8. DEBTORS

Trade debtors
Prepayments and accrued income		 2025
£
572,711
62,721
635,432		 2024
£
342,241
58,664
400,905

Page 26

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Accruals and deferred income
Other creditors
Taxation and social security		 2025
£
63,739
647,992
105,175
141,039
957,945		 2024
£
56,317
648,509
202,446
18,665
925,937

Deferred income comprises income received in advance. Income deferred in the year relates to fees received in advance for August 2025 onwards.

Balance brought forward
Amount release during the year
Amount deferred in the year
Balance carried forward
10.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Accruals – rent free period		 2025
£
627,093
(627,093)
633,826
633,826

2025
£
36,720		 2024
£
524,325
(524,325)
627,093
627,093
2024
£
39,387

Page 27

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

11. FUNDS

a) Analysis of current year total funds

Opening
Balance
2024
£
Unrestricted general fund
429,875
Restricted funds
SEN funding
-
429,875
b) Analysis of prior year total funds
Opening
Balance
2023
£
Unrestricted general fund
453,964
Restricted funds
SEN funding
-
453,964		 Income
£
1,946,479
174,637
2,121,116
Income
£
1,740,504
131,261
1,871,765		 Expenditure
£
(1,888,866)
(174,637)
(2,063,503)
Expenditure
£
(1,764,593)
(131,261)
(1,895,854)		 Closing
balance
2025
£
487,488
-
487,488
Closing
balance
2024
£
429,875
-
429,875

Special Educational Needs funding

This is funding received from the Cambridgeshire County Council and Hertfordshire County Council in relation to the provision of education to children with special needs.

Page 28

LANDMARK INTERNATIONAL SCHOOL, CAMBRIDGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

12. RECONCILIATION OF NET DEBT

As at 1 Cashflows As at 31 August
September 2025
2024
£ £ £
Cash in bank and in hand 688,898 (97,621) 591,277

13. PENSIONS

The Charity makes contributions to a defined contribution stakeholder personal pension scheme on behalf of its employees. The charge to the Statement of Financial Activities represents those contributions payable by the Charity during the year.

At the 31 August 2025 £11,188 was outstanding (2024: £8,017). The contributions paid into the scheme during the year totalled £53,567 (2024: £31,473).

14. RELATED PARTY TRANSACTIONS

Three children of the employees of the school attended the school during the year, foregoing fees of £45,372 (2024: Three children of the employees of the school foregoing fees of £36,728).

Nil trustees were reimbursed expenses during the year (2024: £Nil). There were Nil other related party transactions which took place during the year (2024: Nil).

15. OPERATING LEASE COMMITMENTS

As at 31 August 2025 the school had commitments to making payments under non-cancellable operating leases as follows:

Land and buildings
Within one year
Between 2 and 5 years
Over 5 years
Other
Within one year
Between 2 and 5 years		 2025
£
112,000
441,000
640,058
7,673
4,560		 2024
£
126,750
447,417
745,058
27,797
12,233

Page 29