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2025-07-31-accounts

Company Number: 01239211 Charity Number: 270757

COPTHORNE SCHOOL TRUST LIMITED t/a COPTHORNE PREP SCHOOL

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Annual Report and Financial Statements 2025

Page 1

COPTHORNE SCHOOL TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

INDEX INDEX Pages Pages Pages
3
 8
9
 12
Statement of Financial Activities 13
Balance Sheet 14
Cashflow Statement 15
Notes to the Financial Statements 16 28

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31 JULY 2025

The purpose of this report

The Governors (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements for the year ended 31 July 2025. The annual report serves the purposes financial statements of the company comply with the current statutory requirements, the requirements of the 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 (FRS 102) (effective 1 January 2019).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium omitted.

Status of the company

Copthorne School Trust Limited was incorporated under the Companies Acts 1948 to 1967 as a Company limited by guarantee on 2 January 1976, company number 01239211. The Company has charitable status with the number 270757. On the 1[st] February 2024 the sole member of the Copthorne School Trust Limited was Caterham School. The change of control occurred on the 1 February 2024 and all directors are appointed by the member.

Governing Body

The Governors of the Charity are the School's Board of Governors. The Board operates with two standing subcommittees: the Education Committee and the Finance and General Purposes Committee.

The Governors are covered by trustee indemnity insurance included in the School's insurance policy.

Mrs S Coutinho (legal surname: Seth) Chair of Governors Resigned 20 December 2024 Mr S Gibbons Resigned 28 July 2025 Mr B Moir Resigned 9 October 2024 Ms P Jubraj Mrs A Fletcher - Chair of Governors Appointed as Chair 20 December 2024 Mr O Byrne Ms D Grimason Mr P Clarke Appointed 1 August 2025

Governor training

All new Governors are inducted into the workings of the School. Individual Governors also attend specific training courses held by professional advisors and where appropriate cascade this information down to other Governors.

Registered office and principal address

Copthorne Prep School Effingham Lane Copthorne West Sussex RH10 3HR

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31 JULY 2025

Key executives and professional advisers

Executive Head Mr B Purkiss
Head of School Mrs K McGregor
Bursar/Secretary Mr S Araniyasundaran
Bankers National Westminster Bank, The Boulevard, Crawley, RH10 1XU
CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET
Auditors Moore Kingston Smith LLP, 9 Appold Street, London, EC2A 2AP
Solicitors Veale Wasbrough Vizards LLP, Narrow Quay House, Narrow Quay, Bristol, BS1 4QA

Organisation

The Governors of the School act in the capacity of the Company's directors for the purposes of the Companies Act and in the capacity of trustees in respect of its charitable objectives under the Charities Act. Governors are appointed at the discretion of the Governing Body through an established recruitment process. The Governors meet at least on a termly basis to review and direct the general educational charitable objectives of the Charity. Additional meetings are convened as required. The Curriculum Committee meets termly and oversees all aspects of academic activity and development together with pupil welfare and pastoral care . The termly meeting of the Finance and General Purposes Committee overseas all financial activities, Health, and Safety matters, as well as the oversight of the maintenance and development of the site and buildings. The Welfare, Child Protection and safeguarding Committee oversees all aspects on safeguarding and pastoral activities of the school.

The day-to-day operation of the School is controlled by the Executive Head and his Senior Leadership Team and the finances by the Bursar. Details of the Governors are shown on page 3.

The Executive Head is a member of the Incorporated Association of Prep Schools (IAPS). The School is a member of the Independent Schools' Bursars Association (ISBA), and the Association of Governing Bodies of Independent Schools (AGBIS). Guidance, support and advice is sought from the relevant associations.

Objects and principal activities as set out in the Memorandum are to promote and provide for the advancement of education and in connection therewith to conduct, carry on, acquire and develop in the United Kingdom any boarding or day school or schools for the education of children of either sex or both sexes.

Founded in 1902, Copthorne Prep School has developed an outstanding reputation for helping children to realise their full potential. By providing opportunities for all to succeed, children leave us as confident individuals, well prepared for their progression to senior schools of their choice. We inspire all our pupils to become lifelong learners, responsible global citizens and the very best that they can be.

We strive:

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31 JULY 2025

Academic Achievement

Academic excellence has been a priority this year. The curriculum was reviewed and updated at the end of last year, in line with the expectations across the independent sector. This was then refined over the summer and at the start of the autumn term. The curriculum development has focused on creating rich, broad and balanced educational experiences, underpinned by enquiry questions designed to foster global citizenship. Comprehensive curriculum overviews have been created and shared with parents.

the curriculum, in order to celebrate legacy whilst looking forwards and outwards. We will be drawing on the link to Dr Wilson and Antarctic exploration, the chapel with its war memorial history and making greater our working theatre, in order to enrich the curriculum further.

Alongside this, we have had a focus on developing high quality teaching. This has included revising key academic research and pedagogical approaches, and creating a set of expectations for Copthorne lessons, in order to ensure consistency across practice across the School. The first round of lesson observations will feed into the next areas of focus for staff training and development.

Our sports programme has also been restructured with a skills-based approach, supported by specialist teaching from Nursery onward. This period, we enhanced our swimming provision by bringing in a dedicated swimming teacher and introduced hockey. These efforts, alongside measurable targets for our Heads of Department, underscore our commitment to a rigorous and well-rounded academic environment.

Pupil Experience

Creating globally minded, confident young people lies at the heart of the pupil experience at Copthorne Prep School. The School provides a warm, nurturing environment where every child is encouraged to be curious, independent, and reflective, supported by teachers who inspire a love of learning and a willingness to think critically. This period has seen a significant focus on embedding our Global Curriculum, enabling pupils not only to enquire, analyse, and challenge, but also to develop the character and resilience needed for an ever-changing world. The Copthorne Way continues to guide pupils in becoming the best version of themselves, reinforced by an assembly programme that explores core character attributes and a pastoral system that celebrates kindness, effort, and thoughtful behaviour. Our Learning Powers have also become more deeply embedded across the School, particularly in Early Years, where learning is carefully scaffolded so pupils can understand and apply these values in their daily activities.

Beyond the classroom, pupils enjoy a rich and varied co-curricular programme that fosters creativity, confidence, resilience, and teamwork. With the arrival of a new Head of Music has come a renewed and energetic focus on musical learning, including expanded opportunities to learn instruments, a revitalised choir, and a commitment to performance that encourages pupils to express themselves and take pride in their achievements. Drama has also been a particular highlight this year, culminating in an exceptional whole-school production that showcased talent and collaborative spirit. Sport remains a cornerstone of school life, strengthened by specialist coaching and a growing emphasis on hockey, while outdoor learning continues to be a hallmark of the Copthorne experience, ensuring that every child benefits from a balanced, ambitious, and character-building education that nurtures both personal growth and a strong sense of belonging. This period has also seen renewed energy from the Friends of Copthorne, who have enhanced the pupil experience through family events that are fun, engaging, and community focused. These activities foster belonging, connection, and

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31 JULY 2025

-curricular opportunities, ensuring every child thrives within a vibrant and supportive school environment.

Public benefit

The School, in setting its objectives and planning its activities has given due regard to the duties set out in Section 17 of the Charities Act 2011 and the guidance given by the Charity Commission. During the period the School provided means tested bursaries, scholarships ,other discounts, including staff and sibling discounts, amounted to £68K.

The School also reaches out to the local community to provide access to its facilities. During the period, Copthorne Junior School used the School site for various sport related activities.

Pay policy for senior staff

The School's key management personnel are its Senior Leadership Team which comprises the Executive Head, Head of School, Deputy Head, Head of Teaching & Learning and the Bursar. Arrangements are in place for setting the remuneration for these personnel and consideration is taken to benchmark information and market pay for these roles.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Charity 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.

Future plans

have agreed strategic aims which incorporate educational developments, continued investment in staff, investment in innovation and technologies to support teaching and other School support services.

Principal risks and uncertainties

The Governors are responsible for the overseeing of the risks faced by the School. Detailed considerations of risk are delegated to the Senior Management of the School. Risks are identified, assessed and controls established throughout the period. Risk is managed and monitored by the Board at Strategic level.

The main risks that the Governors have identified and the plans to manage those risks are:

The Board is committed to high standards of corporate governance and reviews its activities on a regular basis. The Board is responsible for the Charity's system of internal control and for reviewing its effectiveness.

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31 JULY 2025

Financial Review

The financial results of the School are set out on pages 13 and 14 of the accounts. The School generated income of £2.592m (2024: £2.89m), costs to run the School amounted to £3.118m (2024: £3.24m) and fee discounts of £0.068m (2024: £0.165m) were given in year. At the year end the net assets were £1.761m (2024: £2.287m) including fixed assets of £2.552m (2024: £2.627m), cash balances of £0.143m (2024: £0.318m), fees received in advance and deposits, and other - working capital of £(0.286m), (2024: £0.139m month period. The School has taken steps in year to invest for the future, developing the curriculum, investing further in teaching staff and enhancing the learning environment for pupils to thrive and to drive future pupil recruitment. The School has developed and run commercial activities during the year, to supplement income. The commercial income is expected to grow in future years to enable further investment in core curriculum for the benefit of Copthorne Pupils.

Reserves policy

It is the Governors' policy to maintain reserves that will permit them to maintain and develop the School's facilities for the purpose of enhancing over time its ability to meet its long-term charitable objectives. To that end, the Governors seek to ensure that there are sufficient reserves to afford reasonable protection to the charitable company in the context of current and anticipated commitments and exposure to external and/or internal risks. The Governors review the reserves position regularly. At the period end unrestricted funds for the School stood at £1.751m (2024: £2.287m).

Information on fundraising practices

All fundraising activities for the School are carried out by School staff with assistance from the parents and pupils with the running of specific fundraising events. They decide, after consideration, which charities they wish to donate to therefore raising their awareness of both local and global issues. Charities varied from Crawley Open House, Children in Need, and the Royal British Legion to name but a few. The School does not use professional fundraisers or have any commercial participators. The School did not receive any complaints in respect of its fundraising activities.

The Governors (who are also directors of Copthorne School Trust Limited for the purposes of company law) are responsible for preparing the Governors' 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 Governors to prepare financial statements for each financial year. Under company law the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31 JULY 2025

Disclosure of information to auditors

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

Signed on behalf of the Board of Governors and approved by them on 26 November 2025.

Mrs A Fletcher (Chair of Governors)

Annual Report and Financial Statements 2025

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TO THE MEMBERS OF COPTHORNE SCHOOL TRUST LIMITED (Continued) FOR THE YEAR ENDED 31 JULY 2025

Opinion

year ended 31 July

2025 which comprise of the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting 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 statements section of our report. We are independent of the charitable company in accordance with the ethical 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

the preparation of the financial statements is appropriate.

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

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

Other information

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

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

We have nothing to report in this regard.

Annual Report and Financial Statements 2025

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TO THE MEMBERS OF COPTHORNE SCHOOL TRUST LIMITED (Continued) FOR THE YEAR ENDED 31 JULY 2025

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit,

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

Responsibilities of trustees

le 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.

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.

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

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

Annual Report and Financial Statements 2025

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TO THE MEMBERS OF COPTHORNE SCHOOL TRUST LIMITED (Continued) FOR THE YEAR ENDED 31 JULY 2025

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

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

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

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

Our approach was as follows:

Annual Report and Financial Statements 2025

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TO THE MEMBERS OF COPTHORNE SCHOOL TRUST LIMITED (Continued) FOR THE YEAR ENDED 31 JULY 2025

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

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

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the we are required t

we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Neil Finlayson (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

Date: 20 January 2026 9 Appold Street London EC2A 2AP

Annual Report and Financial Statements 2025

Page 12

COPTHORNE SCHOOL TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES (including summary Income and Expenditure) FOR THE YEAR ENDED 31 JULY 2025

Note
INCOME FROM
Charitable activities
School fees receivable
3
Other trading activities
Other trading income
4
Investments
Investment income
5
Voluntary sources
Grants and Donations
6
Total incoming resources
EXPENDITURE ON
Raising funds
Trading expenditure
Charitable activiities
Education
Total expenditure
8
NET EXPENDITURE
Transfer between funds
Net movement in funds
Fund balances brought forward 1
August 2024
Fund balances carried forward 31
July 2025
17		 Unrestricted
funds
£'000
2,381
195
5
-
2,581
15
3,102
3,117
(536)
-
(536)
2,287
1,751		 Restricted
funds
£'000
-
-
11
11
-
1
1
10
-
10
-
10		 Year to
11 mths to
2025
2024
£'000
£'000
2,381
2,817
195
53
5
20
11
-
2,592
2,890
15
17
3,103
3,218
3,118
3,235
(526)
(345)
-
-
(526)
(345)
2,287
2,632
1,761
2,287

There are no other recognised gains and losses other than the net income for the year. All operations and activities are continuing.

The notes on pages 16 to 28 form part of these financial statements.

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED BALANCE SHEET AS AT 31 JULY 2025

Note
FIXED ASSETS
Intangible fixed assets
11
Tangible fixed assets
12
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS:Due within one year
15
Net current (liabilities)/assets
Total assets less current liabilities
CREDITORS: Due after more than one
year
16
TOTAL NET ASSETS
FUNDS
Unrestricted funds
17
Restricted funds
17
TOTAL CHARITY FUNDS		 £'000
£'000
£'000
£'000
22
-
2,530
2,627
2,552
2,627
1,006
827
143
318
1,149
1,145
(1,435)
(1,006)
(286)
139
2,266
2,766
(505)
(479)
1,761
2,287
1,751
2,287
10
-
1,761
2,287
2025
2024		 £'000
£'000
£'000
£'000
22
-
2,530
2,627
2,552
2,627
1,006
827
143
318
1,149
1,145
(1,435)
(1,006)
(286)
139
2,266
2,766
(505)
(479)
1,761
2,287
1,751
2,287
10
-
1,761
2,287
2025
2024
2,627
139
2,766
(479)
2,287
2,287
-
2,287

The financial statements were approved and authorised for issue by the Board of Governors on 26 November 2025 and signed on their behalf by:

Mrs A Fletcher Chair of Governors

The notes on pages 16 to 28 form part of these financial statements.

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED CASHFLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2025

----- Start of picture text -----
2025 2024
£'000 £'000 £'000 £'000
Net cash flow from operating activities (15) (355)
Cash flow from investing activities
Interest income received 5 20
-
Purchase of intangible fixed assets (23)
Purchase of tangible fixed assets (245) (19)
Disposal of tangible fixed assets 162 -
Net cash flow from investing activities (101) 1
Cash flow from financing activities
Repayment of loan (46) (40)
Payment of loan interest (13) (17)
Net cash flow from financing activities (59) (57)
Net cash flow from financing activities (175) (411)
Cash and cash equivalents at 1 August
2024 318 729
Cash and cash equivalents at 31 July
2025 143 318
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH
FLOW FROM OPERATING ACTIVITIES
2025 2024
£'000 £'000
Net expenditure for the year (Per SOFA) (526) (345)
Adjustment for:
Amortisation charges 1 -
Depreciation charges 180 164
Loan interest 13 17
- -
Loss/(Profit) on disposal of fixed assets
Investment income (5) (20)
(Increase) in debtors (179) (154)
Increase/(decrease) in creditors 501 (17)
(Decrease) in cash provided by
operating activities (15) (355)
The notes on pages 16 to 28 form part of these financial statements.
----- End of picture text -----

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1. ACCOUNTING POLICIES

a) General information and basis of preparation

Copthorne School Trust Limited is a private charitable company, limited by guarantee, registered in England and The address of the registered office is given in the charity information on page 3 of these Financial

The charity constitutes a public benefit entity as defined by FRS 102.

The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1[st] The Financial Statements are prepared under the historical cost The Financial Statements are prepared

The significant accounting policies applied in the preparation of these Financial Statements are set out below. These

b) Going concern

Having reviewed the funding facilities available to the School together with the expected ongoing demand for places and the School’s future projected cash flows, the Governors have a reasonable expectation that the School has adequate resources to continue its activities for the foreseeable Accordingly, they continue to adopt the going concern basis in preparing the Financial Statements as outlined in the Statement of Governors’

c) Income recognition

All income is included in the Statement of Financial Activities ( SOFA ) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable

For donations to be recognised the charity will have been notified of the amounts and the settlement date in If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within

Income from charitable activities includes school fees receivable, registration fees and fees from ancillary School fees receivable consist of charges billed for the school year ending 31[st] July, less bursaries, discounts, and other Fees received for education to be provided in future years are carried forward as deferred Registration fees are non-refundable fees which are recognised once parents/guardians have committed for the child to attend the school in the school year ending 31[st] Income from ancillary activities is generated from additional activities such as music exam fees and after school clubs being offered to pupils in the school year ending 31[st]

Income from trading activities includes income earned from rents and lettings to raise funds for the Income is received in exchange for renting out the buildings and fields of the School in order to raise funds and is recognised

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

1. ACCOUNTING POLICIES (Continued)

c) Income recognition (continued)

Income from investments includes interest which is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Income from grants received are recognised when there is reasonable assurance that the School will comply with

d) Expenditure recognition

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

o

o Expenditure on charitable activities includes school operating costs such as teaching costs, welfare costs, premises costs and support costs. Finance and administrative staff costs and other support costs have been

e) Support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include administrative and governance They are incurred directly in support of expenditure on the objects of

f) Pension schemes

The School contributes to a Teacher-specific defined contribution scheme and it is accounted for as such. The School also contributes to a defined contribution personal pension scheme for non-teaching staff. All contributions

The School also has members in the Independent Schools Pension Scheme (ISPS). ISPS is a funded scheme, and the assets are held separately from those of the school in separate trustee administered funds. The scheme trustee commissions an actuarial valuation of the scheme every three years using the prospective unit credit method. The ISPS is a multi-employer scheme, and these is insufficient information to use defined benefit scheme accounting, therefore the school accounts for the scheme as a defined contribution scheme and the contributions are recognised in the period to which they relate. Where the actuarial valuation reveals a shortfall of assets compared to

g) Other employee benefits

When employees have rendered service to the school, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

1. ACCOUNTING POLICIES (Continued)

g) Other employee benefits (Continued)

Termination payments are recognised as an expense at the amount expected to be paid when the termination is

h) Operating leases

Rentals payable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease.

i) Intangible fixed assets

Expenditure on software and a new website have been capitalised and carried in the balance sheet at historical cost.

j) Amortisation

Amortisation has been provided on assets brought into use over 3 years.

k) Tangible fixed assets

Tangible assets are stated at cost less accumulated Cost includes costs directly attributable to

Depreciation is provided on all tangible fixed assets retained for use by the School at rates calculated to spread each asset’s cost, less its estimated residual value at prices ruling at date of acquisition, over its expected useful

Freehold buldings and improvements Over 5 - 50 years Plant and machinery 20% straight line Motor vehicles 25% straight line Fixtures and fittings 10% straight line

l) Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the

m) Cash

Cash at bank includes cash and short term highly liquid investments from the date of opening of the deposit or

n) Financial instruments

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

o Financial assets – Trade and other debtors, shown in note 14, are measured at amortised cost less impairment. Cash is measured at face value.

o Financial liabilities shown in notes 15 and 16 - Trade creditors, accruals and other creditors are measured at their

o Bank loans are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest rate.

Annual Report and Financial Statements 2025

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

1. ACCOUNTING POLICIES (Continued)

o) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a

p) Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable

2. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

Estimates and judgements are continually evaluated and are based on historical experience and other factors,

Critical accounting estimates and assumptions:

The School makes estimates and assumptions concerning the The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next

Under component accounting the freehold buildings are divided into major components which are considered to have substantially different useful lives. Judgement is used in allocating property costs between components and in determining the useful lives of each component and this judgement may have a material impact on the depreciation

Critical areas of judgement:

Deposits held by the School repayable when a pupil leaves the School are included in other creditors falling due

3. INCOME FROM CHARITABLE ACTIVITIES

ss fees
s: Bursaries, scholarships and allowances
d: Other charges to pupils
gistration fees		 Unrestricted
funds
£'000
2,292
(68)
154
3
2,381		 Restricted
funds
£'000
-
-
-
-
-		 Total
funds
Total
funds
Year to
11 mths to
2025
2024
£'000
£'000
2,292
2,816
(68)
(165)
154
161
3
5
2,381
2,817

All income from charitable activities in the prior period was unrestricted.

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

4. OTHER TRADING ACTIVITIES

Unrestricted
funds
Restricted
funds
Year to
Year to
2025
2025
£'000
£'000
Rent and lettings
185
-
Sundry income
10
-
Profit on sale of fixed assets
-
-
195
-
Bank interest
5
-
Donation to the School from:
Friends of Copthorne
-
11
Auditor's remuneration - current period
16
-
Other accountancy costs
-
-
Other governance costs
-
-
16
-
All income from other trading activities in the prior period was unrestricted.
INVESTMENT INCOME
GOVERNANCE COSTS
GRANTS AND DONATIONS		 Total
funds
Year to
2025
£'000
185
10
-
195
5
11
16
-
-
16		 Total
funds
11 mths to
2024
£'000
33
20
-
53
20
-
18
3
3
24

5. INVESTMENT INCOME

6. GRANTS AND DONATIONS

7. GOVERNANCE COSTS

During the period, the children of 1 (2024: 1) of the Governors attended the School. None of the children of the Governors received a bursary. Any applicable sibling discounts and scholarships have been awarded under the usual school criteria.

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

8. EXPENDITURE: Analysis of total expenditure

Cost of generating funds
Trading expenses
Charitable activities
Teaching
Welfare
Premises
Support
Expenditure on governance
Total charitable expenditure
Comparative total expenditure
Cost of generating funds
Trading expenses
Charitable activities
Teaching
Welfare
Premises
Support
Expenditure on governance
Total charitable expenditure		 Staff costs
(Note 9)
Year to
2025
£'000
-
1,431
141
231
228
2,031
-
2,031
2,031
Staff costs
(Note 9)
11 mths to
2024
£'000
-
1,545
118
148
191
2,002
-
2,002
2,002		 Year to
2025
£'000
-
9
-
171
1
181
-
181
181
11 mths to
2024
£'000
-
20
-
144
-
164
-
164
164
Depreciation
(Note 10)
Depreciation
(Note 10)		 Other
Year to
2025
£'000
15
131
77
361
300
869
22
891
906
Other
11 mths to
2024
£'000
17
214
98
382
334
1,028
24
1,052
1,069		 Total
Year to
2025
£'000
15
1,571
218
763
529
3,081
22
3,103
3,118
Total
11 mths to
2024
£'000
17
1,779
216
674
525
3,194
24
3,218
3,235		 Total
11 mths to
2024
£'000
17
1,779
216
674
525
3,194
24
3,218
3,235

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

----- Start of picture text -----
|||| |---|---|---| |9.|NET EXPENDITURE| |Year to|11 mths to| |2025|2024| |£'000|£'000| |Net expenditure is stated after charging:| |Depreciation of tangible fixed assets|180|164| |Auditor's remuneration - current period|16|18| |Auditor's remuneration - non-audit services|-|-| |10.|STAFF COSTS| |Wages and salaries|1,608|1,660| |Employer's NI costs|166|153| |Pension contributions|257|189| |2,031|2,002| |2025|2024| |Number|Number| |The average number of employees during the period was as follows:| |Teaching and teaching support|34|45| |Administration, domestic and maintenance|21|24| |55|69|

----- End of picture text -----

The number of employees who received total employee benefits (excluding employer pension costs) of more than

----- Start of picture text -----
|||| |---|---|---| |Year to|11 mths to| |2025|2024| |£'000|£'000| |£70,001 - £80,000|-|1| |£80,001 - £90,001|-|1| |-|-| |£110,001 - £120,000| |-|-| |£140,001 - £150,000|

----- End of picture text -----

Key management personnel are considered to be the School’s Leadership Team, comprising of the Executive Headmaster, Head of School, Deputy Head, Head of Teaching & Learning and the Bursar. The total remuneration and benefits received by key management personnel during the year was £148,940 (2024: £0.224m). The total

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

11. INTANGIBLE FIXED ASSETS

Cost
Additions and cost at 31 July 2025
Amortisation
Charge for the year and at 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Other
intangibles
£'000
23
1
22
-		 Total
£'000
23
1
22
-

12. TANGIBLE FIXED ASSETS

Cost
At 1 August 2024
Additions
Disposals
Transfers
At 31 July 2025
Depreciation
At 1 August 2024
Charge for the year
Disposals
At 31 July 2025
Net Book Value
At 31 July 2025
At 31 July 2024		 Freehold
property
£'000
4,531
215
(135)
-
4,611
2,058
131
-
2,189
2,422
2,473		 Plant &
machinery
£'000
231
-
(23)
-
208
151
24
-
175
33
80		 Fixtures,
fittings & IT
£'000
575
30
(4)
-
601
506
23
-
529
72
69		 Motor
vehicles
£'000
141
-
-
-
141
136
2
-
138
3
5		 Total
£'000
5,478
245
(162)
-
5,561
2,851
180
-
3,031
2,530
2,627

13. FIXED ASSET INVESTMENTS

Investment in group undertaking

On 13[th] November 1990, the Charity acquired 100 £1 Ordinary shares, for £nil consideration, representing the entire issued share capital of Copthorne School Services Limited, a company incorporated in England and Wales. Copthorne School Services Limited has remained dormant since incorporation in November 1990 and was dissolved in April 2025.

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

14.
Trade debtors
Other debtors
Prepayments and accrued income
15.
Bank loan
Trade creditors
Amount owed to parent undertaking
Other creditors and accruals
Fees received in advance and deferred income
Social Security and other taxation
16.
Bank loan
Deposits held
Pension liability (Note 19)
Reconciliation of movement in deferred income in the period
Balance brought forward
Released to the statement of financial activities
Received in the period
Balance carried forward
Deferred income relates to fees received in advance.
Bank loan
Due within 1 year
Repayable in 1 - 2 years
Repayable in 2 - 5 years
Due in more than 5 years
Balance carried forward
CREDITORS:Amounts falling due after more than one year
DEBTORS
CREDITORS:Amounts falling due within one year		 2025
2024
£'000
£'000
776
746
32
21
198
60
1,006
827
60
60
79
69
443
-
57
31
663
846
133
-
1,435
1,006
279
326
101
91
125
62
505
479
846
786
(846)
(785)
663
845
663
846
60
60
60
60
179
179
41
87
340
386

The bank loan is secured by charge on freehold property and will be repaid over 10 years. The rate of interest on the

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

17.
Current period
1 August
2024
£'000
Restricted funds
-
Unrestricted funds
2,287
2,287
Prior period
1 August
2023
£'000
Restricted funds
-
Unrestricted funds
2,632
2,632
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Current period
Restricted funds
Unrestricted funds
Prior period
Restricted funds
Unrestricted funds
FUNDS MOVEMENT		 Income
£'000
11
2,581
2,592
Income
£'000
-
2,890
2,890
Fixed assets
£'000
-
2,552
2,552
Fixed assets
£'000
-
2,627
2,627		 Expenditure
£'000
(1)
(3,117)
(3,118)
Expenditure
£'000
-
(3,235)
(3,235)
Net current
assets
£'000
10
(296)
(286)
Net current
assets
£'000
-
139
139		 Transfers
£'000
-
-
-
Transfers
£'000
-
-
-
Long term
liabilities
£'000
-
(505)
(505)
Long term
liabilities
£'000
-
(479)
(479)		 31 July 2025
£'000
10
1,751
1,761
31 July 2024
£'000
-
2,287
2,287
2025
£'000
10
1,751
1,761
2024
£'000
-
2,287
2,287

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

19. OPERATING LEASES

Operating lease payments totalling £11,093 (2024: £18,983) have been recognised as an expense in the Statement of Financial Activities.

At 31 July the charity had commitments to make future minimum lease payments under non-cancellable operating

Due within 1 year
Due within 1 - 5 years		 2025
£'000
11
5
16		 2024
£'000
1
4
5

20. RELATED PARTY TRANSACTIONS

There are related party transactions with the member, costs of £165K (2024: £26K) were paid by the member and was accrued as expenditure during the year (2024: £Nil). The sole member provided staff resources to the School during the year, which have been included in these accounts.

21. PENSION SCHEMES

The school runs defined contribution personal pension schemes for those members of staff not entitled to join the defined contribution teacher’s scheme: Aviva Pensions Trust for Independent Schools (APTIS). The net assets of the

The pension cost for the period represents the School's contributions to these schemes of £256,779 (2024: £189K) and there were no contributions due at the year end.

Contributions in respect of the school's defined contribution pension schemes are charged to the income and expenditure account for the period in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the period are shown as either accruals or prepayments at the period

Independent Schools’ Pension Scheme

The school participates in this scheme, a multi-employer scheme which provides benefits to some 66 nonassociated employers. The scheme is a defined benefit scheme in the UK. It is not possible for the school to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

21. PENSION SCHEMES (Continued)

The scheme is classified as a 'last-man standing arrangement'. Therefore, the school is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out with an effective date of 30 September 2020. This actuarial valuation showed assets of £201.1m, liabilities of £256.3m and a deficit of £55.2m. To eliminate this funding shortfall, the trustees and the participating employers have agreed that additional contributions will be paid, in combination from all employers to the scheme.

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the

Where the scheme is in deficit and where the school has agreed to a deficit funding arrangement the school recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

The school is required to pay £7,588 per annum from 1 September 2023, increasing 3% each year, for the next 10 years until 30 June 2032. The provision held for the present value of the contributions as at 31 July 2025 is £124,937 (2024: £59,547).

There will be a review of progress at the next valuation.

22. MEMBERS' LIABILITY

The member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while they are a member, or within one year after they cease to be a member, for payment of the debts and liabilities of the company contracted before they cease to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding £1.

23. ANALYSIS OF CHANGES IN NET DEBT

Cash at bank and in hand
Debt due within one year
Debt due after more than one year		 At 1 August
2024
318
(60)
(326)
(68)		 Cash flows
(175)
-
60
(115)		 Other non
cash
-
-
-
-		 At 31 July
2025
143
(60)
(266)
(183)

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COPTHORNE SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 JULY 2025

24. ULTIMATE CONTROLLING PARTY

The sole member of the charitable company Copthorne Prep School is Caterham school, the ultimate controlling company. Caterham School registered address is Harestone Road, Caterham, Surrey CR3 6YA, company registration number 5410210 and charity registration number 1109508. Caterham School prepares consolidated accounts which includes Copthorne Prep School.

25. CAPITAL COMMITMENT

At the year end the School had a capital commitment of £16,292 (2024: £Nil).

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