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2025-07-31-accounts

Registered number: 11074784 Charity number: 1188094

GREAT OAKS CHARITABLE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 17
Independent auditor's report on the financial statements 18 - 21
Statement of financial activities 22
Balance sheet 23 - 24
Statement of cash flows 25
Notes to the financial statements 26 - 42

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025

Trustees Killian O'Sullivan, Trustee
Harvinder Nandhra, Trustee (appointed 8 July 2025)
Robert Alexander, Trustee
Timothy Brennan, Trustee
Shaminder Kaur Rayatt, Trustee
Company registered
number
11074784
Charity registered number
1188094
Registered office
91-93 Windmill Road
Sunbury-on-Thames
TW16 7EF
Senior management
team
N Thomas, Principal
R Murr, Deputy Principal
R Price, Deputy Principal
P Jalan, Business Manager
Independent auditor
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Bankers
Natwest
275, 277 High St
Hounslow
TW31ZA
Solicitors
Browne Jacobson
Mowbray House
Castle Meadow Road
Nottingham
NG21BJ

Page 1

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025

The Trustees present their annual report together with the financial statements and auditors' report of the Charitable Company for the year 1 August 2024 to 31 July 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Objectives and activities

a. Legal status

The College is a Charitable Company, limited by guarantee, under the Companies Act 2006 and was established as a Special Educational Needs and Disability ("SEND") College.

The governing document, the Articles of Association, outlines the charitable objectives. The Company is registered as a Charity with the Charity Commission for England and Wales under number 1188094 and is subject to the Charities Act 2011. The Company directors are also referred to as Charity Trustees or Trustees.

b. Mission, vision, strategy and objectives

Great Oaks Charitable Trust, known as Great Oaks College, is established for the public benefit to provide advancement of education to young people under the age of 25 years with special educational needs. The college does this by providing and assisting in the provision of facilities and services to meet young people’s educational, developmental and social welfare needs so that they can achieve their full potential. We are proud to be an Ofsted outstanding provider of independent specialist education.

Mission Statement

Great Oaks College is established to provide extended educational opportunities to young adults who have severe learning difficulties in West London and Surrey. Our educational programmes are designed to prepare students for active lives, increasing the opportunities available to them through independence and communication skills.

At Great Oaks we believe that all our students can make outstanding progress and become more active members of their community. We deliver highly individual programmes of education precisely tailored to their individual learning styles, needs and interests.

Our Values

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Objectives and activities (continued)

Our Vision

Vocational Courses

The Vocational Pathway offers courses for people who have decided to pursue employment when they leave education and who have demonstrated that employment is a realistic option for them. Students applying for this course have shown the potential to gain employment with support from employability coaches and bespoke training.

Across all courses, students will attend two days of classroom-based learning; focusing on Functional Maths and English, PSHEC, Independent Living Skills and Employability skills and two days of work-based learning, which are supported by specialist teachers, instructors and employability coaches.

Life and Living Courses

The Life and Living Pathway offers two courses for students who need to develop practical skills to be as independent as possible, and who may also be working towards accessing community groups, transitioning into supported living or volunteering in life after learning.

Across both courses, our practical and community-based learning is complimented by small group tutorials across English, Maths, ICT and PSHEC, in which students will develop their functional literacy and numeracy skills, communication skills, digital skills and understanding of the world around them. Students also access specialist programs such as Lego Therapy, Attention Autism, Keyboarding Without Tears and SOSAFE as appropriate.

Our purpose-designed rooms provide a structured, meaningful learning environment in which students can develop their skills in line with Education Health Care Plan (EHCP) and therapy outcomes. Access to a wide range of community facilities and volunteering links with local organisations enables students to generalise these skills across settings. Students can develop their social interaction and self-regulation skills within our outdoor area.

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GREAT OAKS CHARITABLE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Objectives and activities (continued)

Engagement for Life Courses

The Engagement for Life Pathway consists of differentiated class groups to suit learners with a range of complex physical, sensory and cognitive needs. We support students to access the world around them and to make purposeful decisions about their lives. All of our class groups benefit from high staffing ratios, allowing for a highly person-centred approach to learning. Where appropriate, our staff will make this support more discreet, to empower our students to be as independent as possible. We use a variety of specialist programmes and strategies to support learning including Makaton, Intensive Interaction, TaSSeLs Tactile Signing, Objects of Reference, sensory diets, sensology, music cues and other sensory interventions.

Therapy

Our students are supported by a range of qualified therapists and health professionals onsite at College. All students receive a package of Speech and Language Therapy and Occupational Therapy as standard. Increased provision and additional therapies are delivered as indicated within an individual’s EHCP or based on our assessment.

Once a place has been accepted by the local authority, our therapists begin their assessments of an individual’s needs. This may include discussions with the student’s current therapists, a visit to their current setting, discussions with families and an examination of their EHCPs. This enables the college to ensure the young person has all the relevant equipment they need, ready for when they begin in September. Equipment may include positional or mobility equipment or AAC (communication) devices.

As required, the college source external support to provide advice and programs for students who have sensory impairments to ensure they can access their education fully.

Speech and Language Therapy

The Speech and Language Therapists (SALTs) at Great Oaks aim to provide personalised assessments of each students strengths and development needs in communication. This will comprise gaining knowledge about the students motivators, their functional communication needs and their skills in engaging meaningfully, to have fulfilling interactions with staff and peers at college and beyond.

The SALTs will select, design and recommend therapy interventions that will promote each student`s abilities with the following: engagement in their interactions, increase their understanding of language, expressing their ideas, thoughts, feelings and maintaining social interactions with a growing number of interaction partners, intelligibly within context.

Physiotherapy

Great Oaks College physiotherapy provision aims to enable students with learning disabilities and those with neurodivergent conditions to reach their full physical potential.

Through tailored individual treatment plans, specialist interventions, and motivating exercise-based activities, we facilitate movement, independence, and general well-being. Our interventions include hydrotherapy, postural management, pain management, functional mobility training, and much more tailored support according to specific student needs. Whether it’s enhancing motor skills, improving posture, or building confidence through movement, our physiotherapist works closely with students, families, and educators to create a supportive, inclusive, and dynamic environment.

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GREAT OAKS CHARITABLE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Objectives and activities (continued)

College Nurse

The college employs a part-time nurse to complete medical care plans for students and staff training and competencies so that educational staff can meet the medical needs of the young person.

Animal Therapy

The College has an onsite Therapy Dog called Samson. He works with students to support them if they have a fear of dogs, to encourage physical movement, to develop vocabulary and to provide comfort should a student be experiencing a challenging time.

In Summary

At Great Oaks College, our expert team of staff strive to provide each student with a bespoke package of education. We use an extensive range of specialist teaching techniques, therapy programmes and an ambitious curriculum to support our students to achieve their Preparation for Adulthood outcomes as set out in their EHCPs.

We design individual approaches to learning and progress, aiming to ensure that by the time students leave education, they have the skills to take their place in society as confident, resilient young adults, who can live active lives in accordance with their goals and aspirations.

Achievements and performance

This year has been a significant year in the journey of Great Oaks College. During this year, the college has planned and delivered a relocation project that has safely and effectively relocated its 111 students and 88 staff into new premises. Whilst this was a significant challenge; staff, students and families worked together to achieve a successful relocation.

During this year we:

All of this has been achieved is in addition to the regular hard work and achievement of students and staff including:

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Achievements and performance (continued)

Key performance indicators

The colleges key performance results are set out below

Ofsted rating: Outstanding in all areas

Student Progress

Framework % of students making expected or above expected progress
Core Skills Sensory Assessment 100
Core Functional Skills 98.8
Life Skills Course 94.7
Independent Living Course 100
Engagement for Life Course 100
Vocational Options 100

Across the year, 43 students engaged in work experience opportunities alongside other key learning achievements. Please see a case study of a vocational student learners' journey at Great Oaks College.

Student Case Study

When student A first arrived at Great Oaks College, he was very shy and found it difficult to express his emotions or engage in direct conversations. Over the last four years, student A has developed these skills remarkably—especially in the last two years while working alongside his Employability Coach. His communication and confidence have improved significantly, positively impacting both his social and work life.

Key achievements

Student A has achieved a number of personal and vocational milestones during his time at Great Oaks College:

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GREAT OAKS CHARITABLE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Transition Planning and Post-College Route

Student A will continue his education by transitioning to adult learning. This will run alongside his existing paid employment and will include a blend of leisure and continued learning activities. The transition plan has been designed to maintain their routine, support his ongoing development, and ensure a positive and structured progression into adult life.

Summary and Outlook

Student A has shown outstanding progress during his four years at Great Oaks College. From a shy and reserved individual to a confident and independent young adult, his development has been inspirational. His use of assistive technology, ability to travel independently, and success in gaining and maintaining paid work highlight his determination and capability.

Student A leaves Great Oaks College with valuable skills, strong support, and a clear path forward. He is wellprepared to take on the next stage of his journey with pride and purpose.

Student achievements

Students prosper at the College. 98.9% of students have made expected or above expected progress in 2024/25. 62 qualifications were achieved by students during the year (an increase from 47 last year), 5 students progressed to volunteering and 3 into paid employment on leaving the college. One student achieved an internship. The college is extremely proud of the achievements of our students.

During 2024/25 the College successfully ran another residential trip which was enjoyed by some of the students in our vocational pathway and held a Duke of Edinburgh Bronze and Silver award with some students in the Life and Living pathway.

Payment performance

The Late Payment of Commercial Debts (Interest) Act 1998, in the absence of agreement to the contrary, requires organisations, in the absence of agreement to the contrary to make payments to suppliers within 30 days of either the provision of goods and services or the date on which the invoice is received. During the accounting period 1 August 2024 to 31 July 2025, the College paid 91.35% of its invoices within 30 days of the document date (and 99.02% of its invoices within 30 days of the input date). The College incurred no interest charges for this period

Trade union facility time

The College does not recognise a trade union rep. Staff are welcome to be part of a union and are encouraged to call on their support when required, for example during a disciplinary or management of sickness and absence process but the college does not formally recognise or consult with trade unions.

Public benefit

Great Oaks College has formal registered charity status and is regulated by the Secretary of State for Education. The Members, who hold the Trustees to account, are disclosed on page 1. In setting and reviewing the College's strategic objectives, the Board has had due regard for the Charity Commission's guidance on public benefit and particularly upon its supplementary guidance on the advancement of education.

This year the college has investigated fundraising opportunities to support with the college relocation and has recently developed a fundraising plan.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

The College has no disclosures to make under the provisions of section 13 of the Charities (Protection and Social Investment) Act 2016.

In delivering its mission, the College provides identifiable public benefits through the advancement of education to 111 students all with high needs. Our achievements during the year in relation to this area are disclosed above.

Development and performance

Financial review

The College generated a surplus before other gains and losses of £1,363,604 for 2025 (2024 £999,663) from operations. At the Balance Sheet date the College held net current assets of £3,171,784 and net assets of £5,574,882.

During the year the college drew down on Tranche A of the loan from Big Issue Invest which was used to part fund the purchase of the new college premises alongside the charity's own reserves. The Trustees are also currently using reserves to fund construction on both the purchased premises (conversion from office to education) and the leased site to make this compliant and suitable for use by college students and staff.

The Charitable Company has accumulated reserves of £5,574,882 after its seventh year of operation. Cash and short term investment balances held at 31 July 2025 total £3,853,153.

The Trustees acknowledge the need for prudent financial risk management to preserve the College's primary objective. The College will review the Risk Register and Quality Improvement Plan to strategically plan the use of its reserves over the forthcoming years.

The College has significant reliance on the education sector funding bodies for its principal funding source, including grant income. In 2024/2025, local authorities provided 99% of the College's total educational income.

Future developments

The main focus for the College board has been the successful transition of the college to its new premises. A full due diligence was undertaken by Big Issue Invest prior to the loan approval and regular meetings have taken place with them to monitor progress. Once all students and staff are settled into our new sites, the college will look to rebuild its reserves and make plans to raise the funds required for Phase 2 construction works.

Phase 2 will involve the conversion of the 1st Floor of the new premises in Sunbury including the installation of a lift to make the site more accessible.

Financial plan

The College has an annual budget which is regularly reviewed. The college has a financial model in place to support the current relocation project and beyond to ensure that it can meet the financial covenants of the loan agreement and rebuild reserves over the longer term. Cash flow is being monitored on a weekly basis to ensure that the college can meet the covenants of the loan agreement.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Development and performance (continued)

Treasury policies and objectives

The College has treasury management arrangements in place via its bankers to manage cash flows, banking arrangements and the risks associated with those activities. Subject to the finance policy any short-term borrowing for temporary revenue purposes is authorised by the Principal as the Accounting Officer. All other borrowing requires the authorisation of the Trustee Board.

Reserves

Great Oaks College is responsible for the effective and efficient use of available resources to meet its vision and objectives. These responsibilities are outlined by the Charities Commission in their published guidance, and the key messages are that trustees will:

Maintaining an appropriate level of financial reserves is considered essential in protecting the College from financial risk. Such risks may include:

At 31 July 2025, the College had total funds of £5,574,882 including restricted funds of £176,569 and unrestricted funds of £5,398,313. After deducting the NBV of tangible fixed assets, less related loans, remaining free reserves are £3,389,147. The College reserves policy is to maintain sufficient unrestricted reserves to meet its short-term obligations. The Trustees consider an appropriate free reserves target to be equivalent to 12 months operational expenditure being approximately £5m. Though free reserves are below this level as a consequence of investment activity during the period, the College carefully manages liquidity requirements to ensure sufficient cash is available to meet its existing commitments. Consequently, after reviewing forecasts and budgets for the period to 31 July 2027 which include ongoing building costs, loan repayments and sensitivites around pupil numbers, trustees are satisfied that there are no material uncertainties surrounding the ability of the College to continue as a going concern.

In general, it is considered prudent to maintain a level of useable reserves sufficient to cover unexpected and unplanned events so that the College’s primary objective is preserved and so that beneficiaries are protected from such risks. At the same time, the College wishes to ensure that it uses its funding to benefit students which implies an imperative to consider actively the use of reserves to enhance educational provision.

As a charity the College has developed a policy which establishes a level of reserves that is right for the charity to ensure that reserve levels are not:

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Development and performance (continued)

difficulties, and increasing the risks of unplanned and unmanaged closure and insolvency.

We are accountable to our funders and as such need to work closely with the DfE and with local authorities to ensure costs are covered whilst delivering a high-quality educational experience for our students. Contingencies need to be set aside for factors such as students not taking up or leaving their place at college and increased cost demands due to inflationary pressures.

This policy will assist in strategic planning and risk management by considering how new projects will be funded. Trustees will monitor levels of reserves to ensure that a prudent level of reserves is maintained, bearing in mind recurrent spending needs to ensure high quality provision. In deciding the level of reserves Trustees will consider:

Unrestricted reserves are derived from income funds, grants, donations or operating efficiencies that can be spent at the discretion of the trustees in furtherance of the College’s objectives.

Restricted funds mainly derived through funding agreements but may include grants or donations provided for a specific purpose and must be used in accordance with the limitation of such agreements. As such they fall outside of the definition of reserves, but the College will monitor these funds should they become significant.

Capital funding mainly derived from Government funding is to be allocated to Capital projects in accordance with the funding agreement within the allocated time frame.

Academic year 2025-2026

During the academic year 2025-2026 the college relocation project will be completed. A financial model is in place to support the significant increase in expenditure required for this project and the Board has decided that reserves will be used to fund building renovations.

Financial forecasts indicate that during 2025/26 reserves will decrease to fund the capital expenditure project and are expected to drop to approx. 1.9m. The minimum level that cash will decrease to is 1m (as per the cash covenants in place with our lenders). The Board agrees to this level of reserve use. The financial forecast shows a recovery of reserves, and it remains the board’s aim to achieve a reserve of twelve months operational spend.

Cash flow will be closely monitored during this time, and cost savings measures will be implemented should reserves seem to be dropping to this level. A review of all budgets will be completed to decide whether a freeze needs to be placed on agreed non-essential expenditure.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Development and performance (continued)

Principal risks and uncertainties

The College has well developed strategies for managing risk and the Board strives to embed risk management in all that it does. Risk management processes are designed to protect assets, reputation and financial stability. The Board has overall responsibility for risk management and its approach to managing risks and internal controls is explained in the Governance Statement.

The College has a risk register which identifies the key risks, the likelihood of those risks occurring, their potential impact on the College and the actions being taken to reduce and mitigate the risks. Not all the factors are within the College's control. This register is reviewed at least annually by the Board, and the Principal completes regular SWOT analysis to identify opportunities to mitigate against presenting risks.

The main risk factors affecting the College are:

The College relies on its financial income which is solely linked to student numbers. Student numbers can vary year on year, and the Board uses scenario financial planning to ensure that it can achieve its budget with reduced intakes on an annual basis. Marketing takes place to ensure a good level of student applications each year along with close monitoring of any price increases to local authorities. A high level of attention is placed on the areas of staff recruitment, staff wellbeing and the retention of high-quality, well-trained staff.

IT Business Continuity Plan and Emergency Response Plans are in place to address any emergency situations that may present themselves and the College updates these regularly and when required.

Internal Control

Scope of responsibility

The Trustees are ultimately responsible for the College’s system of internal control and for reviewing its effectiveness. However, such a system is designed to manage rather than eliminate the risk of failure to achieve business objectives and can provide only reasonable and not absolute assurance against material misstatement or loss.

The Trustees have delegated the day-to-day responsibility to the Principal, as Accounting Officer, for maintaining a sound system of internal control that supports the achievement of the College’s policies, aims and objectives, whilst safeguarding the public funds and assets for which she is personally responsible, in accordance with the responsibilities assigned to her in the Funding Agreement between Great Oaks College and the funding bodies. The Principal is also responsible for reporting to the Trustees any material weaknesses or breakdowns in internal control.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Development and performance (continued)

The purpose of the system of internal control

The system of internal control is based on an ongoing process designed to identify and prioritise the risks to the achievement of College policies, aims and objectives, to evaluate the likelihood of those risks being realised and the impact should they be realised, and to manage them efficiently, effectively and economically. The system of internal control has been in place in Great Oaks Charitable Trust for the year ended 31 July 2025 and up to the date of approval of the annual report and accounts.

Capacity to handle risk

The Trustees have reviewed the key risks to which the college trust is exposed together with the operating, financial and compliance controls that have been implemented to mitigate those risks. The Board is of the view that there is a formal ongoing process for identifying, evaluating and managing significant risks that has been in place for the year ended 31 July 2025 and up to the date of approval of the annual report and accounts. This process is regularly reviewed by the Finance, Audit & Resources committee and the Board.

The risk and control framework

The system of internal control is based on a framework of regular management information, administrative procedures including the segregation of duties, and a system of delegation and accountability. It includes:

The Trustees have commissioned School Business Services to carry out the role of internal scrutiny services. Termly internal audits are carried out and reports provided along with an annual report. The report includes the independent opinion on the adequacy and effectiveness of the college’s system of risk management, controls and governance processes. These reports are reviewed and discussed by the board and action plans put in place to address any areas for improvement.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Governance

Governance Statement

The following statement is provided to enable readers of the annual report and accounts of the College to obtain a better understanding of its governance and legal structure. This statement covers the period from 1 August 2024 to 31 July 2025 and up to the date of approval of the annual report and financial statements.

Governance code

The College endeavours to conduct its business:

  1. in accordance with the seven principles identified by the Committee on Standards in Public Life (selflessness, integrity, objectivity, accountability, openness, honesty and leadership);

  2. in full accordance with the guidance to colleges from the Association of Colleges in The Code of Good Governance for English Colleges (“the Code”)

In the opinion of the Trustees, the College complies with the fundamental provisions of the Code. The Trustees recognise that, as a body entrusted with both public and private funds, it has a particular duty to observe the highest standards of corporate governance.

The College Trust

Great Oaks College governance structure comprises trustees who make decisions on the strategic direction of the charity and members who advise and ensure that the charity’s operations are being conducted in line with its charitable objectives.

The operation of the charity is delegated to College Principal. The senior leadership team is led by the College Principal and comprises of two Deputy Principals and a Business Manager. There is a middle leadership team who head up the three pathways within the college. The college employs a range of staff including teachers, support workers, therapists, employability coaches, admin, finance, HR and site team to deliver its educational services.

The Trustees who served during the year and up to the date of signature of this report were as listed in the table below.

Trustees Date of appointment
Killian O'Sullivan 20.02.20
Shaminder Rayatt 20.02.20
Tim Brennan 17.11.20
Robert Alexander 04.06.24
Harvi Nandhra 04.03.25

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

The Members of the College Trust are as follows:

Members Date of Appointment Date of Resignation
Matthew Sartin 21.11.17
Anne Clinton 17.11.20
Vincent John Boylan 06.12.22 04.03.25
Awune Ajumogobia 08.07.25

The Governance Framework

It is the College’s responsibility to bring independent judgment to bear on issues of strategy, performance, resources and standards of conduct.

The Trustees are provided with regular and timely information on the overall financial performance of the College together with other information such as performance against funding targets, proposed capital expenditure, quality matters and personnel related matters such as health and safety and environmental issues. The Board meets each term.

The College conducts its business through the main Board meeting and the Finance, Audit and Resources committee. The main Board meeting has a core agenda with different agenda items added for different meetings during the year. Full minutes of all Board meetings, except those deemed to be confidential by the Trustees, are available from the College’s registered address.

All Trustees can take independent professional advice in furtherance of their duties at the College’s expense and have access to the Business Manager, whose role reflects, within reasonable parameters, ensuring that applicable procedures and regulations are complied with.

Formal agendas, papers and reports are supplied to Trustees in a timely manner, prior to Board meetings. Briefings are provided on an ad hoc basis.

The Charitable Company has a strong and independent non-executive element, and no individual or group dominates its decision-making process. It is considered that each of its non-executive members is independent of management and free from any business or other relationship which could materially interfere with the exercise of their independent judgement.

There is a clear division of responsibility in that the roles of the Chair and The Principal are separate.

Appointments to the College

Any new appointments to the Board are a matter for the consideration of the Charitable Company as a whole. The Board is responsible for ensuring that appropriate induction and training is provided.

The Trustees are appointed for a term of office not exceeding three years. Under the Articles of Association, a Trustee can be re-elected for a maximum of two further terms.

College performance

An Ofsted inspection took place in April 2023, achieving an outstanding rating in all areas.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Remuneration committee

The Charitable Company does not have a separate Remuneration Committee established and it is the Board’s function to carry out this role. The Board discusses and makes recommendations on the remuneration and benefits of the Accounting Officer and other key management personnel.

Details of remuneration for the year ended 31 July 2025 are set out in the notes to the financial statements.

Finance, Audit & Resources committee

The Board has set up this committee comprising three Trustees. The committee operates in accordance with written terms of reference approved by the College.

The committee meets at least three times a year and provides a forum for reviewing the College’s internal accounting. The committee can also liaise with the external financial statements’ auditor, who has access to the Committee for independent discussion, without the presence of College management. The Committee will also receive and consider reports from the main funding bodies as they affect the College’s business.

The Trustees are conscious of the role of internal audit in reviewing the systems of internal control, risk management controls and governance processes. During 2024/25 School Business Services were appointed to carry out the internal audit function.

Management is responsible for the implementation of agreed audit recommendations and the role of the committee is to undertake periodic follow up reviews to ensure such recommendations have been implemented.

The Finance, Audit & Resources committee’s role includes a requirement to report annually to advise the Trustees on the appointment of internal, reporting accountants and financial statements auditors and their remuneration for audit and non-audit work.

The Finance, Audit & Resources committee met three times in the year to 31 July 205. The members of the committee and their attendance records are shown below:

Committee Member Finance, Audit and Resources Committee
Attendance
Tim Brennan 3/3
Shaminder Rayatt 3/3
Harvi Nandhra 1/1

Equality and diversity

Equality

The College is committed to ensuring equality of opportunity for all who learn and work here. We respect and value positively differences in race, gender, sexual orientation, disability, religion or belief and age. We strive vigorously to remove conditions which place people at a disadvantage. The Equality Policy is resourced, implemented and monitored on a planned basis. The College's Equality Policy is published on the College's website.

The College is committed to the principles and objectives of the Positive About Disabled Standard. The College considers all employment applications from disabled persons, bearing in mind the aptitudes of the individuals concerned, and guarantees an interview to any disabled applicant who meets the essential criteria for the post. Where an existing employee becomes disabled, every effort is made to ensure that employment with the College continues. The College's policy is to provide training, career development and opportunities for promotion which, as far as possible, provide identical opportunities to those of nondisabled employees.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Disability statement

The College seeks to achieve the objectives set down in the Equality Act 2010:

a) The College will assess students based on need and provide required facilities and equipment if able to do so.

b) The admissions procedure for all students is described in the Great Oaks College admission policy. Appeals against a decision not to offer a place are dealt with under the admission policy.

c) The College has made a significant investment in the appointment of specialist teachers to support students with learning difficulties and/or disabilities. There are a range of student support assistants who can provide a variety of support for learning. There is a continuing programme of staff development to ensure the provision of a high level of appropriate support for students who have learning difficulties and/or disabilities.

d) Specialist programmes are described in the College prospectus, and achievements and destinations are recorded and published in the standard college format.

The college does not currently work with volunteers apart from trustees and members of the board.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Statement of Trustees' responsibilities

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

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

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

Disclosure of information to auditor

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

Auditor

The auditor, Crowe U.K. LLP, has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Killian O'Sullivan

Date: 17th April 2026

Page 17

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GREAT OAKS CHARITABLE TRUST

Opinion

We have audited the financial statements of Great Oaks Charitable Trust for the year ended 31 July 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 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 18

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GREAT OAKS CHARITABLE TRUST (CONTINUED)

Other information

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

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In light of the 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 directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Page 19

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GREAT OAKS CHARITABLE TRUST (CONTINUED)

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 17, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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

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

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

We obtained an understanding of the legal and regulatory frameworks within which the charitable company 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.

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 charitable company’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.

Page 20

GREAT OAKS CHARITABLE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GREAT OAKS CHARITABLE TRUST (CONTINUED)

We also considered the opportunities and incentives that may exist within the charitable company for fraud. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of Non-dfe grant income and management override of controls. Our audit procedures to respond to these risks included designing audit procedures over the completeness and timing of the recognition of grant income, enquiries of management and the Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, 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 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.

Daniel Haines

Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP

Statutory Auditor London

Date: 29 April 2026

Page 21

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2025

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Total income
Expenditure on:
Charitable activities
8
Other expenditure
9
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
43,775
6,179,751
75,651
43,721
6,342,898
4,737,636
418,227
5,155,863
1,187,035
4,211,278
1,187,035
5,398,313		 Restricted
funds
2025
£
279,363
-
-
-
279,363
102,794
-
102,794
176,569
-
176,569
176,569		 Total
funds
2025
£
323,138
6,179,751
75,651
43,721
6,622,261
4,840,430
418,227
5,258,657
1,363,604
4,211,278
1,363,604
5,574,882		 Total
funds
2024
£
274,189
5,319,373
92,160
29,039
5,714,761
4,380,370
334,728
4,715,098
999,663
3,211,615
999,663
4,211,278

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 26 to 42 form part of these financial statements.

Page 22

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee) REGISTERED NUMBER: 11074784

BALANCE SHEET AS AT 31 JULY 2025

Note
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
17
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 315,752
3,853,153
4,168,905
(997,121)		 2025
£
4,551,811
4,551,811
3,171,784
7,723,595
(2,148,713)
5,574,882
176,569
5,398,313
5,574,882		 162,606
3,859,602
4,022,208
(114,968)		 2024
£
304,038
304,038
3,907,240
4,211,278
-
4,211,278
-
4,211,278
4,211,278

Page 23

GREAT OAKS CHARITABLE TRUST

(A company limited by guarantee) REGISTERED NUMBER: 11074784

BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025

For the year ended 31 July 2025 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

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

Date: 17 April 2026

The notes on pages 26 to 42 form part of these financial statements.

Page 24

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025

Note
Cash flows from operating activities
Net cash used in operating activities
20
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Cash inflows from new borrowing
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
21
The notes on pages 26 to 42 form part of these financial statements		 2025
£
1,732,012
(4,281,106)
(4,281,106)
2,542,645
2,542,645
(6,449)
3,859,602
3,853,153		 2024
£
645,750
(234,106)
(234,106)
-
-
411,644
3,447,958
3,859,602

Page 25

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

1. General information

Great Oaks Charitable Trust is a Company limited by guarantee with exemption under section 60 of the Companies Act 2006 from the requirement to use the word "limited". The Company was incorporated on 21 November 2017 with Articles of Association reflecting charitable status, such that the Directors are Charity Trustees as defined by section 177 of the Charities Act 2011.

2. Accounting policies

A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgments and key sources of estimation uncertainty, is set out below.

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the college's accounting policies.

Accounting convention

The financial statements have been prepared under the historical cost convention.

Great Oaks Charitable Trust meets the definition of a public benefit entity under FRS 102.

2.2 Going concern

The activities of the College, together with the factors likely to affect its future development and performance are set out in the Trustees Report. The financial position of the College, its cashflow, liquidity and borrowings are presented in the Financial Statements and accompanying notes.

The financial statements are prepared on the going concern basis. The Trustees have considered budgets and forecasts covering the period to 31 July 2027, which consider working capital requirements, planned capital expenditure repayment of borrowings, covenant compliance and sensitivity of key assumptions, including pupil numbers and cost inflation.

The Trustees are satisfied that the Trust has sufficient working capital to meet its commitments as they fall due over this period and that there are no material uncertainties surrounding its ability to continue as a going concern.

Page 26

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

2. Accounting policies (continued)

2.3 Income

All incoming resources are recognised when the College has entitlement to the funds, the receipt is probable and the amount can be measured reliably.

Revenue grant funding

Government revenue grants include funding body recurrent grants and other grants and are accounted for under the accrual model as permitted by FRS 102. Funding body recurrent grants are measured in line with best estimates for the period of what is receivable and depend on the particular income stream involved.

Where part of a government grant is deferred, the deferred element is recognised as deferred income within creditors and allocated between creditors due within one year and creditors due after more than one year as appropriate.

Grants (including research grants) from non-government sources are recognised in income when the college is entitled to the income and performance related conditions have been met. Income received in advance of performance related conditions being met is recognised as deferred income within creditors on the balance sheet and released to income as the conditions are met.

Capital grant funding

Government capital grants are capitalised, held as deferred income and recognised in income over the expected useful life of the asset, under the accrual model as permitted by FRS 102. Other, nongovernmental, capital grants are recognised in income when the college is entitled to the funds subject to any performance related conditions being met. Income received in advance of performance related conditions being met is recognised as deferred income within creditors on the Balance Sheet and released to income as conditions are met.

Educational fee income

Income from tuition fees is stated gross of any expenditure which is not a discount and is recognised in the period for which is consistent with the period that education is delivered.

Investment income

All income from short-term deposits is credited to the income and expenditure account in the period in which it is earned on a receivable basis.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Charitable activities

These are costs incurred on the College's educational operations, including support costs and costs relating to the governance of the College apportioned to charitable activities.

Page 27

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation

Assets costing £500 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.

Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the Balance sheet at cost and depreciated over their expected useful economic life. Where there are specific conditions attached to the funding requiring the continued use of the asset, the related grants are credited to a restricted fixed asset fund in the Statement of financial activities and carried forward in the Balance sheet. Depreciation on the relevant assets is charged directly to the restricted fixed asset fund in the Statement of financial activities. Where tangible fixed assets have been acquired with unrestricted funds, depreciation on such assets is charged to the unrestricted fund.

Depreciation is provided on all tangible fixed assets other than freehold land and assets under construction, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows: .

Depreciation is provided on the following bases:

Assets under construction - Not depreciated Motor vehicles - 20% on cost Fixtures and fittings - 10 - 16% on cost Computer equipment - 33% on cost

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

2.7 Debtors

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

Page 28

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

2. Accounting policies (continued)

2.8 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.

2.9 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the College anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 Financial instruments

The College only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the College and their measurement bases are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 16. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at face value.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in note 17. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

2.11 Pension costs and other post-retirement benefits

The College utilises NEST, which is a defined contribution occupational pension scheme backed by the government. Contributions payable to the scheme are charges to the statement of comprehensive income in the period to which they relate.

The College also has access to the Teachers' Pension Scheme (TPS) for teaching staff. TPS provides defined benefit plans, which are externally funded and contracted out of the State Second Pension. The TPS is an unfunded scheme. Contributions to the TPS are calculated so as to spread the cost of pensions over employees' working lives with the College in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by qualified actuaries on the basis of valuations using a prospective benefit method.

2.12 Short term employment benefits

Short term employment benefits such as salaries and compensated absences (holiday pay) are recognised as an expense in the year in which the employees render service to the College. Any unused benefits are accrued and measured as the additional amount the College expects to pay as a result of the unused entitlement.

Page 29

GREAT OAKS CHARITABLE TRUST

(A company limited by guarantee)

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

2. Accounting policies (continued)

2.13 Fund accounting

Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the College at the discretion of the Trustees.

Restricted income funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to conditions imposed by donors

3. Critical accounting estimates and areas of judgment

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

Critical accounting estimates and assumptions:

The College makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 30

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

4. Income from donations and legacies

Unrestricted
funds
2025
£
Grants
16-19 Tuition funding
(991)
Bursary funding
19,447
Free school meals
19,656
Teachers pension
-
Other grant
5,413
NPQ funding
-
SCA Grant funding
-
43,525
Donations
250
Other government grants
-
Subtotal
250
43,775		 Restricted
funds
2025
£
-
-
-
102,794
-
-
92,101
194,895
-
84,468
84,468
279,363		 Total
funds
2025
£
(991)
19,447
19,656
102,794
5,413
-
92,101
238,420
250
84,468
84,718
323,138		 Total
funds
2024
£
23,622
481
30,291
61,462
14,080
800
-
130,736
200
143,253
143,453
274,189

Other government grants includes funding from the London Borough of Hounslow toward property works, and funding from the DfE under the Devolved Formula Capital scheme.

5. Income from charitable activities

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Education fees & funding 6,179,751 6,179,751 5,319,373

Page 31

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

6. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2025
£
Catering income
15,024
Uniforms income
572
Events & trip income
435
Insurance income
20,594
Sale of other goods and services
39,026
75,651		 Total
funds
2025
£
15,024
572
435
20,594
39,026
75,651		 Total
funds
2024
£
13,054
547
2,436
26,100
50,023
92,160

7. Investment income

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Bank interest 43,721 43,721 29,039

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2025
£
Educational operations
4,737,636
Total 2024
4,380,370		 Restricted
funds
2025
£
102,794
-		 Total
2025
£
4,840,430
4,380,370		 Total
2024
£
4,380,370

Page 32

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

9. Other expenditure

Unrestricted
funds
2025
£
Wages and salaries
368,668
National insurance
25,533
Pension costs
24,026
418,227
Total 2024
334,728		 Total
funds
2025
£
368,668
25,533
24,026
418,227
334,728		 Total
funds
2024
£
290,924
20,524
23,280
334,728

10. Analysis of expenditure by activities

Activities
undertaken Support Total Total
directly costs funds funds
2025 2025 2025 2024
£ £ £ £
Educational operations 3,415,932 1,424,498 4,840,430 4,380,370

Page 33

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

10. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
IT costs
Examination supplies
Examination & related fees
Staff development
Educational consultancy
Goods & services
Minibus costs		 Activities
2025
£
3,132,243
1,342
29,257
3,074
51,779
186,612
2,858
8,767
3,415,932		 Total
funds
2025
£
3,132,243
1,342
29,257
3,074
51,779
186,612
2,858
8,767
3,415,932		 Total
funds
2024
£
2,874,472
56,044
44,054
2,516
61,208
246,244
4,342
15,472
3,304,352

Analysis of support costs

Depreciation
Office & advertising costs
Other support costs
Premises costs
Total 2024		 Activities
2025
£
33,333
6,512
1,302,971
81,682
1,424,498
1,076,018		 Total
funds
2025
£
33,333
6,512
1,302,971
81,682
1,424,498
1,076,018		 Total
funds
2024
£
31,561
71,733
299,962
672,762
1,076,018

Page 34

GREAT OAKS CHARITABLE TRUST

(A company limited by guarantee)

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

11. Net income

2025 2024
£ £
Depreciation of tangible fixed assets 33,333 31,561
Fees payable to the Company's auditor in respect of:
- current auditor 20,000 -
- previous auditor - 12,700
- other services - 1,900

12. Staff costs

a. Staff costs

Staff costs during the year were as follows:

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
2,837,686
273,830
438,954
3,550,470		 2024
£
2,596,953
248,736
363,511
3,209,200

There will be nil redundancy or termination costs in the year (2024: nil).

b. Staff numbers

The average number of persons employed by the Company during the year was as follows:

2025 2024
No. No.
Employees 88 86

Page 35

GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

12. Staff costs (continued)

c. Higher paid staff

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024
No. No.
In the band £60,001 - £70,000 6 3
In the band £70,001 - £80,000 2 3
In the band £80,001 - £90,000 - 1
In the band £90,001 - £100,000 1 -

d. Key management personnel

The key management personnel of the College comprise the Trustees and the senior management team as listed on page 1. The total amount of key management personnel benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the College was £462,696 (2024 - £449,659).

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 July 2025, no Trustee expenses have been incurred (2024 - £NIL) .

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

14. Tangible fixed assets

Assets
under
construction
£
Cost or valuation
At 1 August 2024
169,146
Additions
4,279,373
Disposals
-
At 31 July 2025
4,448,519
Depreciation
At 1 August 2024
-
Charge for the year
-
On disposals
-
At 31 July 2025
-
Net book value
At 31 July 2025
4,448,519
At 31 July 2024
169,146
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 Motor
vehicles
£
83,393
-
-
83,393
10,574
16,679
-
27,253
56,140
72,819		 Fixtures and
fittings
£
71,794
-
(25,994)
45,800
28,605
5,205
(25,994)
7,816
37,984
43,189		 Computer
equipment
£
51,405
1,733
-
53,138
32,521
11,449
-
43,970
9,168
18,884
2025
£
150,721
63,819
101,212
315,752		 Total
£
375,738
4,281,106
(25,994)
4,630,850
71,700
33,333
(25,994)
79,039
4,551,811
304,038
2024
£
19,833
68,313
74,460
162,606

15. Debtors

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

16. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2025
£
393,932
24,971
95,568
73,187
409,463
997,121		 2024
£
-
25,357
17,584
8,110
63,917
114,968

Included within other creditors is a £60k provision for potential settlement and associated legal costs relating to an ongoing employment matter.

17. Creditors: Amounts falling due after more than one year

2025 2024
£ £
Bank loans 2,148,713 -

In March 2025 the Trust obtained a loan facility from Big Issue Invest up to £3,255,588.

During the year to 31 July 2025 funds of £2,462,076 were drawn down to be used toward the purchase of the Windmill House site.

The term of the loan is 6 years, repayable over 75 monthly payments of principal and interest. The rate of interest payable on the loan an annual interest rate of 8.5%. The amounts due in <1 year is £393,932; between 2-5 years £1,181,797; >5 years is £842,984.

18. Statement of funds

Statement of funds - current year

Balance at 1 Balance at
August 2024 Income Expenditure 31 July 2025
£ £ £ £
Unrestricted funds
General Funds - all funds 4,211,278 6,342,898 (5,155,863) 5,398,313

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

18. Statement of funds (continued)

The specific purposes for which the funds are to be applied are as follows:

The College's main object is the provision of SEND educational services. Local Authority/DfE income and unrestricted grants, is directed to the general unrestricted fund given it is received for such educational purposes. Where funds are received with other restrictions on their use, such income and any related expenditure is reflected within restricted funds.

Restricted funds

Restricted Funds - all funds
Total of funds
Statement of funds - prior year
1
Unrestricted funds
General Funds - all funds		 -
4,211,278
Balance at
August 2023
£
3,211,615		 279,363
6,622,261
Income
£
5,714,761		 (102,794)
(5,258,657)
Expenditure
£
(4,715,098)		 176,569
5,574,882
Balance at
31 July 2024
£
4,211,278

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
4,551,811
Current assets
3,992,336
Creditors due within one year
(997,121)
Creditors due in more than one year
(2,148,713)
Total
5,398,313		 Restricted
funds
2025
£
-
176,569
-
-
176,569		 Total
funds
2025
£
4,551,811
4,168,905
(997,121)
(2,148,713)
5,574,882

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

19. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year

Unrestricted
funds
2024
£
Tangible fixed assets
304,038
Current assets
4,022,208
Creditors due within one year
(114,968)
Total
4,211,278
20.
Reconciliation of net movement in funds to net cash flow from operating activities
2025
£
Net income for the year (as per Statement of Financial Activities)
1,363,604
Adjustments for:
Depreciation charges
33,333
(Increase)/ Decrease in debtors
(153,146)
Increase/ (Decrease) in creditors
488,221
Net cash provided by operating activities
1,732,012
21.
Analysis of cash and cash equivalents
2025
£
Cash in hand
3,853,153
Total cash and cash equivalents
3,853,153		 Total
funds
2024
£
304,038
4,022,208
(114,968)
4,211,278
2024
£
999,663
31,560
81,138
(466,611)
645,750
2024
£
3,859,602
3,859,602

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

22. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1 August
2024
£
3,859,602
-
-
3,859,602		 Cash flows
£
(6,449)
(393,932)
(2,148,713)
(2,549,094)		 At 31 July
2025
£
3,853,153
(393,932)
(2,148,713)
1,310,508

23. Capital commitments

At the 31 July 2025 the Trust had capital commitments of £3,043,352 (2024: Nil).

24. Pension commitments

Teachers' pension scheme

The School 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 £363,654 (2024: £292,505) and at the year-end £nil (2024 - £nil) 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. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

Valuation of the teachers' pension scheme

The Government Actuary. using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years.

Based on the foregoing the present employer contribution rate is set at 23.68% of pensionable pay. The employer's pension costs paid to TPS in the year amounted to £210,553.

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GREAT OAKS CHARITABLE TRUST (A company limited by guarantee)

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

24. Pension commitments (continued)

Non-teaching staff pension scheme

Non-teaching staff are in the Nest Defined Contribution Scheme, unless they opt out. The College contributes 10% of relevant salary costs towards the scheme with the employee rate being 5%. The pension cost charge represents contributions payable by the College which amounted to £150,103. There were £17,584 of contributions outstanding at the balance sheet date.

25. Operating lease commitments

At 31 July 2025 the Company had commitments to make future minimum lease payments under noncancellable operating leases (which all relate to land and buildings) as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2025
£
100,000
-
-
100,000		 2024
£
-
-
-
-

26. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £NIL for the debts and liabilities contracted before he/she ceases to be a member.

27. Related party transactions

The College occupies facilities at Oaklands School under the Service Level Agreement. The key services provided are:

  1. Educational leadership

  2. Financial leadership and services

  3. HR services

  4. Premises and facilities management

  5. ICT services

The basis of the commercial agreement was a shared cost model was on a pro-rata pupil numbers basis. As the College has expanded the senior leadership team has grown and the level of services under 1 to 3 above has ceased, thus reducing the influence of Oaklands School over day to day activities at the College. During the year to 31 July 2025 costs recharged to the School from Oaklands College amounted to £869,438.

Page 42