OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-08-31-accounts

ST. JOSEPH’S SPECIALIST TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Registered Charity Number 1177680

ST. JOSEPH’S SPECIALIST TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

CONTENTS Page
Trustees and Advisers 1
Executive Principal’s Annual Review 2 - 4
Trustees’ Report 5 - 12
Independent Auditors’ report 13 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 27

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES AND ADVISERS

FOR THE YEAR ENDED 31 AUGUST 2025

THE TRUST BOARD

Trustees

Dominic John Gorton, Chair of Trustees Fr. Jonathan Michael How, Vice Chair of Trustees Martin Hill Brian Patrick O'Donoghue (appointed 8 May 2026) May Ann Bravo (appointed 8 May 2026) Robert James Joseph Morello (appointed 8 May 2026) Sascha Yolanda Taylor (appointed 8 May 2026) David Nicholls (appointed 5 June 2026) Richard Boyle (resigned 31 August 2025) Simon Charleton (resigned 24 October 2024)

Governors

Tim O'Dwyer, Governor Monica Whitehead, Foundation Governor Will Davies (appointed 4 June 2025) Janette Wallace (appointed 4 June 2025) Kathryn Hitchings (staff Governor appointed 4 June 2026) Leonie Collingwood-Johnson, Chair of the Governors (resigned 13 May 2026) Richard Boyle, Chair of Governors (resigned 31 August 2025) Melissa Longmire, Foundation Governor (resigned 10 February 2025) Jean Keane, Governor (resigned 31 December 2024) Annie Sutton, Executive Principal Simon Jaggard, Head Teacher & Director of Education

Registered charity number 1177680
Registered Office Amlets Lane, Cranleigh, Surrey, GU6 7DH
Website www.st-josephscranleigh.surrey.sch.uk
Bankers: HSBC UK Bank plc
1 Centenary Square
Birmingham
B1 1HQ
Barclays Bank plc
1 Churchill Place
London
E14 5HP
Auditor Crowe U.K. LLP
R+ Building
2 Blagrave Street
Reading, Berkshire
RG1 1AZ

1

ST. JOSEPH’S SPECIALIST TRUST

EXECUTIVE PRINCIPAL’S ANNUAL REVIEW

FOR THE YEAR ENDED 31 AUGUST 2025

No limits… just possibilities” is the mission statement of St Joseph’s, seen every day in our caring community where actions speak louder than words.

This year, our community of approximately 226 staff have supported 75 young people from the age of 5 – 19 and 13 adults with complex and severe learning disabilities, many of whom are on the autistic spectrum, and have other associated difficulties. We are trusted by Local Authorities, not just locally but also nationally, to provide education and care for some of the most challenging young people who have reached a point of complexity and often of crisis, whereby they can no longer be supported safely or adequately within mainstream settings. We provide fully committed care supported by exceptional expertise and experience in this complex and often physically and emotionally challenging field. To uphold the trust placed in us by Local Authorities, we continue to provide a financially secure and stable environment. We invest all surplus funds into securing and ensuring the continued development and support of our beneficiaries. We are fully focused on the pursuit of securing for our young people a stable future quality of life that represents the highest levels of personal autonomy, self-respect and contentment as is possible for each individual.

We are a Catholic provision with Christian principles at our core; welcoming students, residents and staff of all faiths and of none. We are blessed to know that we can count on such guidance, on His wishes and to follow the wisdom that He has wished for us all.

The Trust has faced the usual challenges that we come to expect in our setting, including the continuing cost-of-living crisis and national shortages of skilled staff. St Joseph’s has continued in its unswerving dedication to the children and adults without compromising their needs. We have continued to work with a wider community of family, guardians and providers.

Once more this year we have sought to improve and excel in our specialist provision for students. Ofsted inspections in both Education and Care support our specialist provision and, in their observations, they highlight:

2

ST. JOSEPH’S SPECIALIST TRUST

EXECUTIVE PRINCIPAL’S ANNUAL REVIEW

FOR THE YEAR ENDED 31 AUGUST 2025

The educational highlights of the year include several notable achievements and initiatives:

The sterling work and commitment by the Adult Supported Living staff in the year have led to residents who use the service and their relatives, who speak highly of the service, feeling that they are supported in a kind and caring way. Residents with individual goals are able to live independent lives with maximum control that includes dignity, privacy and respect for human rights. Above all, the right culture, ethos, values, attitudes and behaviours of leaders and care staff ensure residents lead confident, inclusive and empowered lives. In addition, St Joseph’s has always ensured that Adult Supported Living accommodation, which is situated in residential areas, has no outward signs to differentiate it from other houses in the street, so that the residents are able to be a part of the community.

Our unique setting for children is in a 23-acre site situated on the outskirts of Cranleigh nestled in the scenic Surrey Hills. Cranleigh is England’s largest village, providing not only a supportive community but also many vibrant opportunities for the children and adults in our care; being just on our doorstep, we are most fortunate to benefit from its patronage in many ways. The site is surrounded with fields, woodland, local flora and fauna. A world that offers grace and guidance, a time for insight, renewal and healing, to listen and learn, and surmount the challenges the young people and adults face daily.

Such high standards highlight our greatest asset, our dedicated and committed staff who directly contribute towards the overall wellbeing, future happiness and quality of life of our young people and vulnerable adults. In turn, this also directly impacts the quality of life and the happiness of siblings and family members. They do so by collectively providing innovative leadership, teaching in classes, therapeutic support, safeguarding and protecting, being custodians of care in our children’s home and having vital support staff who, together with all staff ensure that St Joseph’s runs successfully and smoothly. As a 52-week, 24-hour, 7-day-a-week organisation, St Joseph’s never really sleeps or stops.

3

ST. JOSEPH’S SPECIALIST TRUST

EXECUTIVE PRINCIPAL’S ANNUAL REVIEW

FOR THE YEAR ENDED 31 AUGUST 2025

The current residential Children’s Homes have been updated to a very high level of comfort, practicality and homeliness. Major works are in progress in order to relocate the education facilities contained in the building referred to as a ‘School’ into the main College Building to enable us to safely remove this ageing and cost inefficient asset with the plan to eventually replace this with a purpose built, high efficiency provision that will fully meet the needs of our Explorers Pathway students.

Mindful of our duties towards the prudent use of public funds, we continue to provide a highly specialist provision that represents excellent value for our Local Authority Placement Partners. The provision at St Joseph’s continues to produce tangible and measurable results that support life changing improvements for the quality of life and prospects for independence to the extremely challenging and complex young people that we support regionally. The benefits of a placement at St Joseph’s extends further beyond the significant impact on the young person who attends St Joseph’s, and the opportunities to access education effectively and better-quality family life are seen in siblings, as well as affording parents the opportunity to return to employment and embrace a new, safer and fulfilling family life.

St Joseph’s strives every day to make positive futures from despair, conjuring happiness from sadness, creating the best possible quality of life right now for everyone at St Joseph’s and providing a lasting legacy of hope and security for the lives of the students, the supported adults and their families. As we go forward into the unknown elements of 2025-26, the support, love and compassion of our community is a given, the impossible becomes possible.

There are “no limits……just possibilities”,

Annie Sutton Executive Principal

4

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees present their annual Trustees’ Report for the year ended 31 August 2025, together with the audited financial statements.

About the Trust

St Joseph’s Specialist Trust comprises a non-maintained, co-educational school/college and registered children’s home for students aged 5-19 with Autism Spectrum Disorder (ASD) & complex needs and supported living accommodation houses for vulnerable adults. St. Joseph’s was originally founded by the Sisters of the Sacred Hearts of Jesus and Mary and, whilst a Catholic setting, welcomes those of all denominations or none.

At the heart of St Joseph’s, and reflecting its Catholic foundation, is a commitment to furthering the coming of God’s kingdom through ensuring that young people with ASD and complex learning needs are enabled to grow as children of God and members of the human family and to share as fully as possible in its life. St Joseph’s welcomes all those, like its staff, supporters, residents, students and their families, all those who share this aim, irrespective of their own faith or beliefs.

Established as an independent Charitable Incorporated Organisation (CIO) on 1[st] September 2018, the assets and liabilities of St Joseph’s Specialist School and College, an operation of the Diocese of Arundel and Brighton, were transferred to the Trust from the Diocese under a 999-year lease with peppercorn rent.

Objectives and Activities

The objects of the CIO are for the public benefit, and are given in its constitution as: (a) the advancement of the Roman Catholic religion; and, in accordance with the tenets, teaching and practices of the Roman Catholic religion: (b) the advancement of education and training; and

(c) the provision of residential accommodation and support to those in need,

This is achieved, particularly but not exclusively within Surrey and Sussex by: (a) the management, maintenance and development of St. Joseph’s Specialist School and College for children and young people with complex learning and behavioural difficulties and ancillary charitable activities; and

(b) the provision of residential accommodation to children and young people, and supported housing to adults, both of these with complex learning and behavioural difficulties.

The St Joseph’s campus sits on the former Wyphurst Estate in the Surrey Hills. The main house, surrounding buildings, some historical, some purpose developed, provide the secure and tranquil setting for some of the most complex and challenging young people in the UK allowing them to benefit from highly specialist education, care and therapy.

St Joseph’s School and College

St Joseph’s School and College offers a fully integrated approach that enables it to meet the needs of young people with complex learning needs, who additionally have often experienced crisis, rejection or exclusion leading to a fear of school. Learning and teaching at St Joseph’s is fully integrated with a broad range of therapies and opportunities, including speech and language therapy, occupational therapy, art, drama and music therapies, an arts centre with artist in residence, sports facilities, a swimming pool, horticulture provision, outdoor classrooms, a nature reserve and enterprise ventures including a student run café.

Each of the small classes is run by a trio of teacher, occupational therapist plus a speech and language therapist supported by a team of teaching assistants and designated therapy assistants who work to remove the obstacles to learning, which traditional educational approaches have failed to achieve.

Mental health and well-being are supported through daily therapy-led group sessions. The availability of a clinical psychologist and a psychiatrist in-house gives students fast and effective access to Child and Adolescent Mental Health Services (CAMHS) as required.

5

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

St Joseph’s School and College continued

In place of the usual Key Stages, students at St Joseph’s follow one of three educational pathways:

St Joseph’s engages in research through enrolment on the National Professional Qualification for Executive Leadership (NPQEL), the National Professional Qualification for Headship (NPQH), Masters degrees, and the National Professional Qualification for Special Educational Needs Coordination (NPQ SENCo). This includes research projects designed to broaden professional expertise. They also continue to support new resource development through the Books Beyond Words project, led by Baroness Sheila Hollins.

Children’s Home

St Joseph’s Specialist Trust is registered with Ofsted as a Children’s Home. There are 4 homes that encourage and support young people to maximise their full potential. Young people have the benefit of the waking day curriculum where they develop and achieve in many aspects of their lives and maximise key skills towards independent living. They can spend time pursuing their various hobbies and interests whilst achieving their objectives within their Educational Health and Care Plan (EHCP). Staff encourage and support young people in all areas of independence and the development of skills to enable interaction out in the community. The links to education and therapies ensure a cohesive and consistent approach in all areas of their home.

Adult Supported Living

Supported Living for vulnerable adults is provided at Springvale. This was opened as an adult supported living in 2012. Standing on the edge of Cranleigh village, it enables tenants to be a part of the local community with the social and training opportunities, retail and leisure facilities that it offers.

St Joseph’s is at the heart of the Cranleigh community. Goodwill towards the operation has attracted local patronage for various ventures. St Joseph’s works hard to continue to attract the significant donations necessary for the continuation and improvement of its aims.

The Trust had restructured Adult Supported Living arrangements in 2023/24, following a review of the costs incurred, and has terminated the provision of services at Long Barn in October 2023. The Trust opened a new location in September 2025, The Lodge, which is a supported living accommodation for 3 tenants.

Achievement and Performance

In 2024/25, St Joseph’s provided quality education to 75 children and young people (2024: 69) and supported living for 7 adults (2024: 13). Student progress is monitored using CASPA (Comparison and Analysis of Special Pupil Attainment) scores. Considering overall progress against expectations, of a cohort of 81 students in KS1-5:

The data further suggests that many students make significant progress above previous expectations when they move into the St Joseph’s setting.

6

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Achievement and Performance (continued)

The provision is highly rated. The School and College received an overall Grade 1 for effectiveness from the inspectors of the Catholic Schools Inspectorate (CSI) in December 2019, a judgement that was reaffirmed in February 2023. The Office for Standards in Education, Children’s Services and Skills (OFSTED) also maintained its assessment that the education provision is Outstanding in all areas. In June 2025, an inspection by Surrey Local Authority, carried out on behalf of the Commissioning Consortium for Residential and General (CCRAG), a joint commissioning group of local authorities, confirmed the continued high standards of provision.

The Care Quality Commission (CQC) inspect adult supported living provision. The last report on Springvale was following an inspection in January 2022 and which assessed “Good” across all aspects of provision. The CQC reviewed the information to date in July 2023 and confirmed that the service performed well and met the expectations. In November 2025, Ofsted Care confirmed the Trust provides effective care services that meet the requirements, with overall experiences and progress of children and young people as Good.

Financial Review

The Trust generated a surplus £2,138,980 for the year (2024: £172,071). The Trust’s work with Children and Young People generated a surplus of £1,788,113 (2024: a deficit of £132,901). Adult supported living generated a surplus of £303,743 (2024: £233,181). The movements in Restricted funds and the associated activities during the year total £47,124 (2024: £71,791), reflecting the utilisation of grant income and donations to support the Trust's core educational activities, capital investments, and targeted pupil support programs. Key Performance Indicators show a net surplus margin of 15.88%, working capital of £4.7m and a current ratio of approximately 8:1. This reflects the reserves policy established by the Trustees as set out below.

The principal source of income this year has been the fees and bursaries received from Local Authorities and the Education and Skills Funding Agency, to secure an appropriate and effective education and care that meets the significant additional needs of the children who are placed at St Joseph’s. The largest part of this relates to the funding provided by Local Authorities.

Despite a lengthy waiting list of potential applicants, the Trust is unable to increase intake to capacity because of severe staff recruitment challenges experienced across the sector. The Trust makes use of contractor/agency staff to fill some gaps, but the costs of these remain significant and account for some of the underlying volatility in overall staffing costs. The Trust has measures in place to alleviate this position and to retain directly employed staff. The Trust continues to apply robust cost controls to general overheads at the point of planning as well as delivery. This year, a newly repurposed administration building has enabled long-overdue modernisation of the main school building, including essential replacement of the deteriorating roof. The Trust’s fleet has been expanded with four new 7-seater vehicles to extend residents and students travel opportunities while enhancing safety and keeping costs manageable. Capital expenditure during the year has focused on upgrading educational facilities as part of a long-term strategy to ensure that higher standards are met. The Trust retains the use of the land and premises at the school and college and at Springvale for a peppercorn rent for a period of 999 years donated by the RC Diocese of Arundel & Brighton in 2018.

All funds raised in connection with operating activities are solely expended for the benefit of the Trust and its beneficiaries who are the Children & Young People and adults in Supported Living.

Reserves policy

The Trustees recognise the need for the Trust to maintain sufficient reserves to:

The Trustees have established an initial target for free reserves, in net current assets, of 6 months' operating costs. They plan to build this up over the coming years by generating a small operating surplus while meeting their duties to provide Value for Money for public funds. At year end, free reserves stand at £4,495,338 (2024: £3,136,232) against a target of £5.5 million. At 31[st] August 2025 the Trust has a restricted fund of £7,005 (2024: £14,741) in relation to general donations.

7

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Future Plans

During the year, the Trust has commenced the project to enhance the educational facilities within the main building, transforming it into a dedicated space exclusively for school and college activities, which is innovative, efficient and sustainable. The project will replace a separate post-war current school structure, which is deteriorating and would demand substantial financial investment in the near future to ensure a safe and healthy learning environment. This will take place following the completion of Phase 3, as outlined below and will be demolished.

The refurbishment project has been structured into three phases to ensure the works are financially viable and are delivered in a manageable, timely manner as approved by the Trustees. They are as follows:

The phased approach allows the Trust to carefully monitor expenditure, manage risk, and progress the development in line with available resources. Key to any development that the Trust considers is the maintenance of minimum reserves. The Trustees recommend that a minimum cash reserve of £3.5m should be held throughout the duration of the project. Any current and future operational surpluses will be reinvested fully into the refurbishment programme, which includes other smaller unrelated projects in the pipeline. This approach will support the completion of later phases without compromising the Trust’s ongoing financial stability. It is essential that the Trust maintains and invests in a fit-for-purpose capital expenditure programme.

The Care Quality Commission (CQC) has registered the Lodge as a new location for the provision of Adult Supported Living accommodation and new tenants have been moving in, all previously Children’s Home residents.

The past few years, with respect to the quality of education, have been spent focusing on driving the quality of teaching delivery and developing the pathway curriculum. Through this, we have seen a significant drop in negative pupil behaviour as an indicator of improved engagement, alongside other initiatives such as more ongoing and developmental Behaviour Support training for all staff and improved induction of new staff. We are now turning our heads towards the Cognitive Science, which underpins the curriculum; the repetition and spacing of information to optimise on the long-term retention of knowledge and development of skills. By lengthening the time between recalling information, a student will improve their long-term memory and hopefully their understanding. Teachers are also using evidence-based practice to support existing processes and explain why we use certain ASD friendly approaches, which provide them with both the credibility and the confidence in developing their practice.

Structure, Governance and Management

The Board of Trustees was originally appointed on the date of incorporation (23 March 2018). The Board of Governors of the School and College became a sub-committee of the Trust (Education Governing Committee), supporting the Trustees in the governance of the educational activities of the school and college. Members of the Education Governing Committee are still known as governors, though the usual responsibilities of a Governing Board now sit with the Board of Trustees. The current Trustees and Governors are listed on page 1.

The Board of Trustees, as the accountable body for the major decisions of St Joseph’s, ensures clarity of vision, ethos and strategic direction; it holds the executive leaders to account for the performance of the organisation and its management, and oversees the financial performance of the charity.

8

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Structure, Governance and Management (continued)

The Board meets at least four times a year. Day to day management of the charity is delegated to the Executive Principal who reports regularly to the Board of Trustees on the progress of key matters. The Board of Trustees has delegated to the Education Governing Committee, responsibility for overseeing the management of the School and College including policies, staffing and use of resources. The Governance arrangements for the School and College fall under the Non-Maintained Special School Regulations and mirror school governance within the Local Authority maintained sector.

The Constitution provides for up to eleven Trustees. Eight appointed by members of the CIO, two by the Diocese of Arundel and Brighton and one by the Bishop of Arundel and Brighton. The consent of both the Trustees and the Bishop of Arundel and Brighton is needed to amend the objects of the Trust. The Trustees have taken steps to ensure that they have the breadth and depth of experience and understanding to carry out their duties effectively and efficiently, particularly as regards education, SEND, care and therapy, financial, audit and legal, health and safety, HR and remuneration. The recruitment of suitable and available individuals remains a challenge in common with many charities. Following the resignation of two trustees for personal reasons in the year to 31 August 25, reducing the number of Trustees to just three, the members unsuccessfully sought to find new trustees through their usual channels. To secure the proper governance of the Trust the members engaged Prospectus, a recruitment agency specialising in charity and not-for-profit recruitment, to help find new trustees to bring the Board of Trustees back to strength. These new appointments are included in page 1 of this report. New Trustees receive an introduction to the work of the Trust from the Core Senior Leadership Team. Trustee training is accessed through Strictly 4 Education and other training services. Most Trustees bring significant skills from other settings. The Trustees and the Governors understand their roles in relation to equality and diversity, and comply with legislative requirements, including those relating to disability, safeguarding, and health and safety.

Management

The operational management of the Trust is delegated to its Core Senior Leadership Team, which comprises:

Annie Sutton Executive Principal
Alan Day Director of Residential Care
Cedric de Souza Director of Finance
Elizabeth Hurst Director of Business
Simon Jaggard Director of Education (Head Teacher)
Adrian Maxey Director of Estates & Facilities
Karen May Director of Therapies
Elizabeth Sanders Director of Human Resources

The Board of Trustees is responsible for determining the remuneration of the Executive Principal. Trust’s Core Senior Leadership Team remuneration is decided by the Executive Principal and agreed by the Chair of Trustees. In setting pay, the Trust follows an established pay policy designed to ensure that salaries are appropriate, proportionate, and sufficient to attract and retain staff with the skills required to deliver the Trust’s charitable objectives. Decisions are made using relevant benchmarking and with due regard to the charity’s responsibilities and resources.

Employee involvement

St Joseph’s policy is to work collaboratively with employees on matters likely to affect employees' interests through organised forums such as the anonymous “Ask the Boss” online facility and regular staff updates via weekly meetings and email circulars. Each half term welcomes all staff with an update on the current state of affairs led by the Executive Principal and supported by all Core and Senior Leaders. This may be information regarding matters of personal, local or national concern; we seek to achieve a common awareness on matters relating to strategic, operational and financial factors affecting St Joseph’s performance. In matters that significantly change policies or terms, full and extensive consultation processes are followed, to ensure that all staff are able to offer their opinions, suggestions and concerns. There is sound evidence that demonstrates that the consultation process at the Trust takes this on board and has adapted new proposals in line with suggestions offered by the wider staff. In some cases where there have been significant concerns raised by staff, new initiatives or changes have been abandoned. There is sound evidence that the Executive Principal leads the Core Senior Leadership Team and wider management team in giving serious consideration to all staff queries and gives respectful and full comprehensive feedback to staff.

9

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Equality and Diversity

St Joseph’s has a robust Equality Policy and Safer Recruitment process and is committed to ensuring equality of education, care and opportunity for students, residents and staff irrespective of race, gender, faith, sexuality, disability, or socio-economic background. We aim to encourage inclusion and diversity in which all those connected to the Trust feel equally valued and are able to participate fully .

Gender Pay Gap

In 2025, our strong, diverse and engaged network of 226 employees indicates a pay gap of 4% in favour of the male gender based on an hourly rate of pay. Further analysis is as follows:

Gender Staff Staff% Rate/Hour
Male 78 35% 18.31
Female 148 65% 17.50
The proportions of male and female employees in respective pay bands are as follows:
Quartile Female Male
Lower 78.6% 21.4%
Lower Middle 68.4% 31.6%
Middle 58.9% 41.1%
Upper 56.1% 43.9%

The Core Senior Leadership Team is comprised of 4 males and 4 females, with a pay gap of 9% in favour of the female gender and it is to be noted that this includes the Executive Principal of the organisation who is of the female gender.

Our strategy is to continue to create a culture of inclusion and development for everyone and we will continue to shape a more diverse and inclusive culture at the Trust.

Pupil Data

The school participates in the Department for Education (DfE) annual census in January each year. The school reported the following pupil numbers:

Key 2025 of which 2025 Key 2024 of which 2024
Stage Pupils Boarding Boarders Stage Pupils Boarding Boarders
KS 1 9 Weekly 4 KS 1 2 Weekly 4
KS 2 9 Termly 1 KS 2 8 Termly 1
KS 3 17 52 week 5 KS 3 21 52 week 5
KS 4 20 KS 4 16
KS 5 20 KS 5 22
Total 75 10 Total 69 10

Supported Living Tenancies at August 2025: Springvale: 7 tenancies (2024: 7 tenancies).

Admissions and Funding

Admissions criteria for the school and college require potential students to have an Education, Health and Care Plan that specifies a disability. Residential placements are only available to students either already in or taking up an academic placement. Adults accessing supported living accommodation must initially meet assessment criteria of Local Authority Adult Social Care or Continuing Health Care in order to apply for the provision. St Joseph’s specialises in provision designed to meet the needs of those with complex and significant learning difficulties. All education, care and adult supported living services are fully funded by public bodies. The majority of students are placed and funded by Local Authorities and tenants are charged rent capped at Housing Benefit maximum.

10

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Fundraising

The Trust does not engage any third-party fundraisers, the fundraising team ensure that all reasonable steps are taken to protect vulnerable people from inappropriate or unwelcomed fundraising approaches. The Trust has not received any complaints about any aspect of its fundraising. The Trust is registered with the Fundraising Regulator and follows the Code of Fundraising Practice which sets out the responsibilities that apply to fundraising carried out by charitable institutions in the UK.

Our donors take us above and beyond the core funding we receive from Local Authorities and enable us to provide new facilities and equipment for the young people at the Trust. This would not be possible without the support of so many organisations that have helped the Trust to secure the funds it needs to address our ambition for the children and young people we serve.

Compliance with Charity Commission Guidance and Public Benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Trustees have considered the question of public benefit and are satisfied that the Charity's activities are as defined by charity law and Charity Commission regulations.

St. Joseph’s is a member of the National Association of Independent Schools & Non-Maintained Special Schools (NASS) a membership organisation working with and for special schools in the independent, voluntary and private sectors within the UK. The Executive Principal is a Trustee of NASS ensuring that St Joseph’s is fully involved at a national level within the special educational sector. In addition, the Head Teacher ensures that St Joseph’s works collaboratively with the local maintained sector, and is an active member of the Cranfold Confederation, an informal confederation of schools in the South Guildford area.

Risk Assessment and Risk Management

During the period, the Trustees continued their oversight of the major risks to which the Trust is exposed and have put in place a comprehensive Risk Register. Major risks have not changed significantly during the course of the year and include the following major risks:

MAJOR RISKS MITIGATION
Poor safeguarding leading to Dedicated Designated Safeguarding Lead assisted by a Head of Safeguarding
injury, death, negligence or abuse and Inclusion and a Safeguarding Team manage referrals and compliance
requirements, ensure risk assessments are pertinent and up to date and
monitor potential risks as well as conducting in-depth training and providing
regular updates for staff.
Reputational damage Business Continuity Plan including crisis media management, validity of
insurance and comprehensive cover for entirety of operation, protecting
interests and managing concerns and expectations of local authorities, Ofsted,
CQC, parents/guardians and other stakeholders.
Reliance on local authority Maintenance of Ofsted, CQC, statutory and regulatory standards. Application
commissioning of rigorous admissions procedure. Management of contractual relationships
and attendant financial arrangements.
Cyber security Ensuring up to date protection for all equipment, systems and software across
the operation.
Insufficient staff to deliver services Proactive HR Department with strong recruitment strategies and expert
knowledge of sector.
Staffing adherence to EHCPs, Risk Assessments and Behaviour Support
Plans. Dynamic use of staff, timetabling and class structure.

Trustees have directed the Core Senior Leadership Team to continue to focus on risk reduction in 2025/26 in order to ensure the continued high-quality provision that has been maintained over recent years.

11

ST. JOSEPH’S SPECIALIST TRUST

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees 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).

The Trustees are required to prepare a financial statement for each financial year that gives a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as we are aware, there is no relevant audit information of which the charity’s auditor is unaware, the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and have taken steps to establish that the auditor is aware of that information.

Approved by the Trustees on 10 June 2026 and signed as authorised on their behalf by:

Fr Jonathan How Trustee

12

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF

ST. JOSEPH’S SPECIALIST TRUST

FOR THE YEAR ENDED 31 AUGUST 2025

Opinion

We have audited the financial statements of St Joseph’s Specialist Trust for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the 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:

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 charity 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 charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The trustees are responsible for the other information. 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.

In connection with our audit of the financial statements, 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.

13

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF

ST. JOSEPH’S SPECIALIST TRUST

FOR THE YEAR ENDED 31 AUGUST 2025

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees responsibilities statement set out on page 12, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’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 intends to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 noncompliance 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 charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, including financial reporting legislation and the Charities SORP (FRS 102), and tax regulations. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

14

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF

ST. JOSEPH’S SPECIALIST TRUST

FOR THE YEAR ENDED 31 AUGUST 2025

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 necessary to the charity’s ability to operate or to avoid a material penalty. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We also considered the opportunities and incentives that may exist within the charity for fraud. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the 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, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission 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 non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Crowe U.K. LLP

Statutory Auditor

Reading

Date: 19 June 2026

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

15

ST. JOSEPH’S SPECIALIST TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2025

2025 2025 2025 2025 2024
Note £ £ £ £ £
Children & Children & Adult
Young Young Supported Total Total
People People Living
Restricted Unrestricted Unrestricted
INCOME
Charitable activities
Fees Local Authorities - 11,334,802 858,908 12,193,710 9,816,417
Fees DfE - 729,567 - 729,567 738,647
Sundry income - 116,185 - 116,185 103,343
Voluntary income
Grants to meet expenditure 69,446 200,108 - 269,554 197,110
Donations 7,186 237 - 7,423 15,979
Other trading activities
Rental income - - 154,127 154,127 154,127
------------------------ ------------------------ ------------------------ ------------------------ ------------------------
Total income 76,632 12,380,899 1,013,035 13,470,566 11,025,623
------------------------ ------------------------ ------------------------ ------------------------ ------------------------
EXPENDITURE
Raising funds 3 -
(1,544)		 - (1,544) (13,766)
Charitable activities 3 (29,508) (10,591,242) (709,292) (11,330,042) (10,839,786)
------------------------ ------------------------ ------------------------ ------------------------ ------------------------
Total expenditure (29,508) (10,592,786) (709,292) (11,331,586) (10,853,552)
------------------------ ------------------------ ------------------------ ------------------------ ------------------------
Net movement in funds 47,124 1,788,113 303,743 2,138,980 172,071
Fund balances brought forward
at 1 September 2024 14,741 17,954,260 1,362,950 19,331,951 19,159,880
Transfers between funds (54,860) 54,860 - - -
------------------------ ------------------------ ------------------------ ------------------------ ------------------------
Fund balances carried forward
at 31 August 2025 7,005 19,797,233 1,666,693 21,470,931 19,331,951
=========== =========== =========== =========== ===========

There were no recognised gains and losses other than those included in the Statement of Financial Activities.

The notes on pages 19 to 27 form part of these financial statements.

16

ST. JOSEPH’S SPECIALIST TRUST

BALANCE SHEET

AS AT 31 AUGUST 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible fixed assets 5 16,936,851 16,166,247
Intangible Assets 6 31,737 14,731
CURRENT ASSETS
Debtors 7 877,513 152,859
Cash at bank and in hand 4,499,172 3,903,298
---------------------- ----------------------
5,376,685 4,056,157
CREDITORS: Amounts falling due within one year 8 (649,342) (628,184)
---------------------- ----------------------
NET CURRENT ASSETS 4,727,343 3,427,973
------------------------ ------------------------
TOTAL ASSETS LESS CURRENT LIABILITIES 21,696,931 19,608,951
CREDITORS:Amounts falling due after one year 8 (225,000) (277,000)
------------------------ ------------------------
NET ASSETS 21,470,931 19,331,951
=========== ===========
FUNDS
Children & Young People 19,797,233 17,954,260
Adult Supported Living 1,666,693 1,362,950
----------------------- -----------------------
Unrestricted funds 9 21,463,926 19,317,210
Restricted funds –Children & Young People 9 7,005 14,741
------------------------ ------------------------
TOTAL FUNDS 10 21,470,931 19,331,951
=========== ===========

The financial statements were approved and authorised for issue by the Trustees on 10 June 2026 and were signed below on its behalf by:

Fr Jonathan How Trustee

The accompanying notes form part of these financial statements.

17

ST. JOSEPH’S SPECIALIST TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

2025 2024
Notes £ £
Net cash provided by operations A 1,831,594 150,574
Cash flows from Investing Activities
Purchase of tangible & intangible assets (1,235,720) (656,228)
Net cash (used in) investing activities (1,235,720) (656,228)
---------------------- ----------------------
Change in cash and cash equivalents in
period		 the reporting B 595,874 (505,654)
Net cash and cash equivalents at the beginning of period 3,903,298 4,408,952
---------------------- ----------------------
Net cash and cash equivalents at end of period 4,499,172 3,903,298
======== ========
A. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET
CASH PROVIDED BY OPERATIONS
2025 2024
£ £
Net movement in funds 2,138,980 172,071
Depreciation 443,200 418,112
Amortisation 4,910 -
(Increase) / Decrease in debtors (724,654) (46,403)
(Decrease) / Increase in creditors (30,842) (393,206)
------------------------- -------------------------
Net cash provided by operations 1,831,594 150,574
========= =========
B. ANALYSIS OF CHANGES IN CASH
AND CASH EQUIVALENTS AND At Other At
NET DEBT
31-Aug-2024 Cash Flows Changes 31-Aug-2025
£ £ £ £
Cash and cash equivalents 3,903,298 595,874 - 4,499,172
----------------------- ----------------------- ----------------------- -----------------------
Net cash provided by operations 3,903,298 595,874 - 4,499,172
========= ========= ========= =========

18

NOTES TO THE FINANCIAL STATEMENTS

ST. JOSEPH’S SPECIALIST TRUST

FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - effective 1 January 2019. The Trust is a charitable incorporated organisation (charity number: 1177680) registered in England and Wales. The financial statements have been prepared under the historical cost convention.

Going Concern

The financial position and future prospects of the Trust have been assessed, taking into account the funding facilities available, the anticipated ongoing demand for services, and future projected cash flows. Based on this evaluation, the Trustees have a reasonable expectation that the Trust has adequate resources to continue its activities for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis, as the Trustees have not identified any material uncertainties that would cast significant doubt on the Trust’s financial viability.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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, or in the period of the revision and future periods if the revision affected current and future periods.

Judgements made by the Trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the depreciation rates of tangible fixed assets and are discussed below. In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

Income

Fees receivable and other fees are accounted for in the period in which the service is provided. Fundraising and other income are accounted for when entitlement arises, the amount can be reliably quantified and the economic benefit to the Trust is considered probable.

Expenditure

Expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been attributed to the functional categories of resources expended in the Statement of Financial Activities.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short-term highly liquid investments.

19

ST. JOSEPH’S SPECIALIST TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (continued)

Tangible fixed assets

Tangible assets, except the freehold property, are stated at cost less depreciation. Depreciation is provided on all tangible fixed assets other than freehold land, at rates calculated to write off the cost less their estimated residual value of each asset over its expected useful life, as follows:

Individual items costing less than £5,000 are normally written off as an expense on acquisition. Freehold land is not depreciated. Computer and IT costs of less than £5,000 per item are expensed through the Income and Expenditure account.

Depreciation of fixed assets starts in the year following the acquisition of an asset, and it is calculated over the expected useful life of the asset.

Intangible assets

The Trust capitalises the cost of third-party software that meets the criteria for recognition as an intangible asset. The software is amortised over its estimated useful life of 3 years. Impairment reviews are conducted annually or when indicators of impairment arise.

Amortisation of intangible assets starts in the year following the acquisition of an asset, and it is calculated over the expected useful life of the asset.

Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost, with the exception of investments, which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security, other taxes and provisions.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions

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

Taxation

The Trust is constituted as a registered charity, and therefore is exempt from direct taxation on its charitable activities. There were no tax reclaims in the year on gifts and donations received.

20

ST. JOSEPH’S SPECIALIST TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Pensions

The Teachers’ Pension Scheme - This scheme is a multi-employer pension scheme. It is not possible to identify the Trust’s share of the underlying assets and liabilities of the Teachers’ Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS102, accounts for the scheme as if it were a defined contribution scheme. The Trust’s contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable.

The charity also operates defined contributory group personal pension schemes for non-teaching staff.

Operating lease commitments

The rentals payable under operating leases are charged to the Statement of Financial Activities (SOFA) on a straight-line basis over the lease term.

Fund accounting

Funds held by the charity are:

2. NET INCOME 2025 2024
£ £
Net income is stated after charging
Depreciation of owned tangible fixed assets 443,200 418,112
Auditors’ remuneration – non-audit services 4,000 -
Auditors’ remuneration – audit services 23,150 21,907
Amortisation of intangible assets 4,910 -
3. ANALYSIS OF TOTAL EXPENDITURE
2025 2025 2025 2025 2024
Staff Costs Other Costs Depreciation Total Total
£ £ £ £ £
Raising funds 1,544 - - 1,544 13,716
Charitable activities
Teaching 4,123,225 156,790 - 4,280,015 3,844,731
Welfare 2,836,879 245,884 - 3,082,763 3,148,351
Premises 765,234 328,128 443,200 1,536,562 1,503,656
Support costs 1,560,776 840,418 - 2,401,194 2,303,639
Grants - 29,508 - 29,508 39,459
--------------------- ---------------------- --------------------- ---------------------- ----------------------
9,287,658 1,600,728 443,200 11,331,586 10,853,552
======== ======== ========== ======== ========

Restricted expenditure in the period in relation to grants received amounted to £29,508 (2024: £39,459).

The Trust is registered for VAT. Irrecoverable VAT is charged to the relevant expenditure heading. The charity is partially exempt and calculates recoverable VAT using the standard method.

21

ST. JOSEPH’S SPECIALIST TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

PARTICULARS OF EMPLOYEES 2025 2024
No. No.
The average persons employed by the Trust
during the period was:
226 219
====== ======
Their total remuneration was: £ £
Wages and salaries 7,050,079 6,396,304
Social security costs 742,493 612,886
Other pension costs 534,471 527,929
Other staff costs 305,398 208,725
--------------------- ---------------------
8,632,441 7,745,844
Agency staff 655,217 1,007,682
--------------------- ---------------------
9,287,658 8,753,526
========== ==========

4. PARTICULARS OF EMPLOYEES

The total remuneration of key management personnel during the period was £1,043,146 (2024: £932,656). Key management are considered to be the Core Senior Leadership Team and their total remuneration – gross pay, taxable benefits, employer’s pension and National Insurance contributions. None of the governors are considered to be key management personnel.

The number of staff with emoluments 2025 2024
within the following ranges were: No. No.
£60,001 - £70,000 9 8
£70,001 - £80,000 2 3
£80,001 - £90,000 3 1
£90,001 - £100,000 1 3
£100,001 - £110,000 3 1
£130,001 - £140,000 1 0
===== =====

Other pension costs include liability provisions for the period of £Nil (2024: £Nil).

The Trust made £138,134 (2024: £121,047) contributions to defined contribution and benefit pension schemes in the period in respect of the higher-paid employees.

Termination payments made in the year were £6,042 (2024: £7,083).

During the year, close family members of key management personnel received remuneration of £19,443 (2024: £4,427).

Trustees and Advisers' remuneration and reimbursed expenses

Trustees do not receive remuneration from the Charity. No trustee had any beneficial interest in any contract with the company during the year.

Trustees were reimbursed for travel expenses incurred in the course of their duties, and Disclosure and Barring Service (DBS) check costs were reimbursed during the year, totalling £311 (2024: £39).

22

ST. JOSEPH’S SPECIALIST TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

5. TANGIBLE FIXED ASSETS

Leasehold premises

The premises were acquired from the Trustees of Sacred Heart Sisters of Chigwell Convent on 1 September 1981 at a cost of £425,000 plus furniture and fittings £50,000 (part was sold in 1988 for £69,453). In addition, a house, Springvale, was purchased from the Sisters in September 1986 at a cost of £155,000. The use of the properties which are still owned by the RC Diocese of Arundel & Brighton, has been gifted through a 999-year lease with only peppercorn rent payable.

School
Leasehold
premises		 Springvale
Leasehold
premises		 Assets in
Construc-
tion		 Motor
vehicles		 Computers Fixture
and fittings		 Total
At cost or
valuation		 £ £ £ £ £ £ £
Beginning
of period		 17,053,264 789,637 362,827 52,070 9,716 132,803 18,400,317
Additions 361,083 - 585,033 113,969 - 153,719 1,213,804
Transfers 441,038 - (441,038) - - - -
End of year 17,855,385 789,637 506,822 166,039 9,716 286,522 19,614,121
Depreciation ------------- ------------- ------------- ----------- ------------- ------------- -------------
Beginning
of period		 2,115,788 92,643 - 10,414 3,886 11,339 2,234,070
Charge for the
period		 398,401
15,841		 - 10,414 1,943 16,601 443,200
Released on
disposal - - - - - - -
End of year 2,514,189 108,484 - 20,828 5,829 27,940 2,677,270
Net Book Value ------------- ------------- ------------- ------------- ------------- ------------- -------------
As at 31 August
2025		 15,341,196 681,153 506,822 145,211 3,887 258,582 16,936,851
As at 31 August
2024		 14,937,476 696,994 362,827 41,656 5,830 121,464 16,166,247
======== ======== ======== ======== ======== ======== =======

6. CAPITAL COMMITMENTS

The Trust has committed to the phased refurbishment of the building, which relates to Phase 1 construction works of £1,956k and an estimated £250k for associated ancillary costs. This is part of its long‑term programme to replace the existing deteriorating school structure with modern, sustainable educational facilities. Contractual commitments from suppliers relate to the provision of labour and specific professional services.

7. INTANGIBLE ASSETS

Opening Additions Disposals Amorti- Work In Transfers Closing
Balance sation Progress Balance
At costs £ £ £ £ £ £ £
Third-party 14,731 21,916 - 4,910 - - 31,737
Software
======== ======== ======== ======== ======== ======== ========
8. DEBTORS
2025 2024
£ £
Fee debtors 655,691 20,670
Other debtors 221,822 132,188
--------------------- ---------------------
877,513 152,859
========== ==========

23

ST. JOSEPH’S SPECIALIST TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

9. CREDITORS:

Amounts falling due within 2025 2024
one year £ £
Trade creditors 164,331 192,180
Accruals 111,920 146,365
Staff costs provision 0 62,566
Payroll creditors 333,801 201,340
Other creditors 39,290 25,733
--------------------- ---------------------
649,342 628,184
========== ==========
Amounts falling due after 2024 2024
one year £ £
Staff costs provision 225,000 277,000
========== ==========

Pension liabilities

The Trust was notified by the Teachers’ Pension Scheme in 2019 that they were to challenge the eligibility of one (2024: two) member of staff from the inception date of the scheme in 2010. This was accepted with one member who has since retired and a liability provision based on a settlement agreement between the Trust and the member is now in place and included in the accounts. The final decision by the TPS for the other member of staff who remains in employment has been referred to the Pensions Ombudsman. Pending this decision and following an independent valuation, a total provision of £225,000 (2024: £277,000) has been included in the accounts.

10. STATEMENT OF FUNDS – CURRENT PERIOD

Brought Carried
forward at forward at
01 September Income Expenditure Transfers 31 August
2024 2025 2025 2025 2025
£ £ £ £ £
Children and Young People 17,954,260 12,380,899 (10,592,786) 54,860 19,797,233
Adult Supported Living 1,362,950 1,013,035 (709,292) - 1,666,693
---------------------- --------------------- ------------------------- ------------------------- ----------------------
Unrestricted funds 19,317,210 13,393,934 (11,302,078) 54,860 21,463,926
Restricted funds 14,741 76,632 (29,508) (54,860) 7,005
---------------------- --------------------- ------------------------- ------------------------- ----------------------
Total funds 19,331,951 13,470,566 (11,331,586) - 21,470,931
=========== ========== ============ ============ ===========

24

ST. JOSEPH’S SPECIALIST TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Statement Of Funds – Comparative

Brought Carried
forward at forward at
01 September Income Expenditure Transfers 31 August
2023 2024 2024 2024 2024
£ £ £ £ £
Children and Young People 18,022,145 9,806,498 (9,939,399) 65,016 17,954,260
Adult Supported Living 1,129,769 1,107,875 (874,694) - 1,362,950
---------------------- --------------------- ------------------------- ------------------------- ----------------------
Unrestricted funds 19,151,914 10,914,373 (10,814,093) 65,016 19,317,210
Restricted funds 7,966 111,250 (39,459) (65,016) 14,741
---------------------- --------------------- ------------------------- ------------------------- ----------------------
Total funds 19,159,880 11,025,623 (10,853,552) - 19,331,951
=========== ========== ============ ============ ===========

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS – CURRENT PERIOD

Unrestricted Restricted Total Total
funds funds 2025 2024
2025 2025
£ £ £ £
Tangible Fixed & Intangible Assets 16,968,588 - 16,968,588 16,180,978
Current assets 5,369,680 7,005 5,376,685 4,056,157
Current liabilities (649,342) - (649,342) (628,184)
Non-current liabilities (225,000) - (225,000) (277,000)
----------------------- ----------------------- ----------------------- -----------------------
21,463,926 7,005 21,470,931 19,331,951
=========== ========== =========== ===========

Analysis Of Net Assets Between Funds – Comparative

Unrestricted Restricted Total Total
funds funds 2024 2023
2024 2024
£ £ £ £
Tangible Fixed & Intangible Assets 16,180,978 - 16,180,978 15,942,862
Current assets 4,041,416 14,741 4,056,157 4,515,409
Current liabilities (628,184) - (628,184) (859,807)
Non-current liabilities (277,000) - (277,000) (438,584)
----------------------- ----------------------- ----------------------- -----------------------
19,317,210 14,741 19,331,951 19,159,880
=========== ========== =========== ===========

25

ST. JOSEPH’S SPECIALIST TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

12. OPERATING LEASE COMMITMENTS

At 31 August 2025, there were operating lease commitments of an insignificant amount

13. PENSION COSTS

(a) Teachers’ Pension Scheme

The Trust participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £330,098 (2024: £277,463) and at the year-end £43,193 (2024: £36,900) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023.

Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation have valued the ‘greater value’ benefits for groups of relevant members.

The valuation confirmed that the employer contribution rate for the TPS would increase from 23.6% to 28.6% from 1 April 2024. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

(b) Group Personal Pension

The Trust participates in defined contribution schemes for its teaching and non-teaching staff who are not in a final salary scheme. The cost for the year of the Trust’s contributions was £292,040 (2024: £269,498).

14. POST BALANCE SHEET EVENT

After the reporting date, the Trust identified significant structural damage to one of its buildings. Although no independent specialist review has been undertaken, management considers the building to be unsafe and expects that full demolition will be required. The damage arose after the year-end as a result of pipes bursting during a period of unusually cold weather, and therefore does not relate to conditions existing at the balance sheet date. Accordingly, no adjustment has been made to these financial statements.

The net book value of the building at the year-end was £204,750.

26

ST. JOSEPH’S SPECIALIST TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

15. STATEMENT OF FINANCIAL ACTIVITIES – COMPARATIVE

2024 2024 2024 2024
£ £ £ £
Children & Children & Adult
Young Young Supported Total
People People Living
Restricted Unrestricted Unrestricted
INCOME
Charitable activities
Fees Local Authorities - 8,862,669 953,748 9,816,417
Fees DfE - 738,647 - 738,647
Sundry income - 103,343 - 103,343
Voluntary income
Grants to meet expenditure 101,539 95,571 - 197,110
Donations 9,711 6,268 - 15,979
Other trading activities
Rental income - - 154,127 154,127
------------------------ ------------------------ ------------------------ ------------------------
Total income 111,250 9,806,498 1,107,875 11,025,623
------------------------ ------------------------ ------------------------ ------------------------
EXPENDITURE
Raising funds - (13,766) - (13,766)
Charitable activities (39,459) (9,925,633) (874,694) (10,839,786)
------------------------ ------------------------ ------------------------ ------------------------
Total expenditure (39,459) (9,939,399) (874,694) (10,853,552)
------------------------ ------------------------ ------------------------ ------------------------
Net movement in funds 71,791 (132,901) 233,181 172,071
Fund balances brought forward
at 1 September 2023 7,966 18,022,145 1,129,769 19,159,880
Transfers between funds (65,016) 65,016 - -
------------------------ ------------------------ ------------------------ ------------------------
Fund balances carried forward
at 31 August 2024 14,741 17,954,260 1,362,950 19,331,951
=========== =========== =========== ===========

16. RELATED PARTY TRANSACTIONS

No Trustees made a donation to the Charity in the year (2024: £Nil). Details in relation to close family members, Trustees and Advisers' remuneration and reimbursed expenses are detailed within Note 4.

27