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 

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

|**INDEX**|**INDEX**||**Pages**|**Pages**|**Pages**|
|---|---|---|---|---|---|
||||3<br>|8||
||||9<br>|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 

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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:** 

- To instil a desire for excellence in all areas of learning, celebrating effort as well as achievement. 

- To offer a well-considered, stimulating curriculum which provides opportunities for children to be challenged, to be curious and to develop as independent learners. 

- To continue to develop the first-class pastoral care the School provides for pupils. 

- To provide a nurturing environment where all children are happy, valued and encouraged to develop as individuals. 

- To develop a strong sense of School community that is kind, inclusive and reflects the increasingly diverse and international dimension of School life. 

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**COPTHORNE SCHOOL TRUST LIMITED FOR THE YEAR ENDED 31 JULY 2025** 

- To provide strong pastoral care based on traditional Christian values of mutual respect towards all members of the community. 

- To develop a partnership with pupils, parents and staff to promote a culture of trust, ambition and high achievement. 

- To continue to monitor and review the key policies and procedures to ensure a safe environment for employees, pupils and visitors to the School. 

- To provide continuing support to the pupils already in receipt of fee assistance through means tested financial assistance. 

## **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 

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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: 

- Maintaining a high quality of education - managed by combining attractive staff remuneration with on-going investment in our estate and an approach to enrolment that works with supportive parents whose children have an appetite for learning. 

- Safeguarding of children managed through safeguarding policies, staff recruitment policies, pastoral support for both pupils and staff and active identification and resolution of health and safety related issues. 

- Economic factors (including fee affordability) in the short-term managed through effective cost management, financial planning and control, diversification of income streams and maintaining a quality product. 

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. 

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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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and accounting estimates that are reasonable and prudent; 

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

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. 

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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: 

- so far as that Governor is aware, there is no relevant audit information of which the charitable company's auditor is unaware, and 

- that Governor has taken all the steps that ought to have been taken as a Governor in order to be aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information. 

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


**Mrs A Fletcher** (Chair of Governors) 

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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: 

- 5 and of its incoming 

- resources and application of resources, including its income and expenditure, for the period then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our 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. 

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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: 

- period for which the financial statements are 

- prepared is consistent with the financial statements; and 

## **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: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

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

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime preparing a strategic report. 

## **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: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

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

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the trol. 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 

- audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on cause the charitable company to cease to continue as a going concern. 

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

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: 

- We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council 

- We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. 

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. 

- We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. 

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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 

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

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

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## **COPTHORNE SCHOOL TRUST LIMITED BALANCE SHEET AS AT 31 JULY 2025** 

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

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


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


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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 

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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. 

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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. 

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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<br>s: Bursaries, scholarships and allowances<br>d: Other charges to pupils<br>gistration fees|Unrestricted<br>funds<br>£'000<br>2,292<br>(68)<br>154<br>3<br>**2,381**|Restricted<br>funds<br>£'000<br>-<br>-<br>-<br>-<br>**-**|**Total**<br>**funds**<br>Total<br>funds<br>**Year to**<br>11 mths to<br>**2025**<br>2024<br>**£'000**<br>£'000<br>**2,292**<br>2,816<br>**(68)**<br>(165)<br>**154**<br>161<br>**3**<br>5<br>**2,381**<br>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<br>funds<br>Restricted<br>funds<br>Year to<br>Year to<br>2025<br>2025<br>£'000<br>£'000<br>Rent and lettings<br>185<br>-<br>Sundry income<br>10<br>-<br>Profit on sale of fixed assets<br>-<br>-<br>195<br>**-**<br>Bank interest<br>5<br>-<br>Donation to the School from:<br>Friends of Copthorne<br>-<br>11<br>Auditor's remuneration - current period<br>16<br>-<br>Other accountancy costs<br>-<br>-<br>Other governance costs<br>-<br>-<br>**16**<br>**-**<br>All income from other trading activities in the prior period was unrestricted.<br>**INVESTMENT INCOME**<br>**GOVERNANCE COSTS**<br>**GRANTS AND DONATIONS**|**Total**<br>**funds**<br>**Year to**<br>**2025**<br>**£'000**<br>**185**<br>**10**<br>**-**<br>**195**<br>**5**<br>**11**<br>**16**<br>**-**<br>**-**<br>**16**|Total<br>funds<br>11 mths to<br>2024<br>£'000<br>33<br>20<br>-|
|---|---|---|
|||53<br>20<br>-<br>18<br>3<br>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**<br>Trading expenses<br>**Charitable activities**<br>Teaching<br>Welfare<br>Premises<br>Support<br>Expenditure on governance<br>**Total charitable expenditure**<br>Comparative total expenditure<br>**Cost of generating funds**<br>Trading expenses<br>**Charitable activities**<br>Teaching<br>Welfare<br>Premises<br>Support<br>Expenditure on governance<br>**Total charitable expenditure**|Staff costs<br>(Note 9)<br>Year to<br>2025<br>£'000<br>-<br>1,431<br>141<br>231<br>228<br>2,031<br>-<br>2,031<br>**2,031**<br>Staff costs<br>(Note 9)<br>11 mths to<br>2024<br>£'000<br>-<br>1,545<br>118<br>148<br>191<br>2,002<br>-<br>2,002<br>2,002|Year to<br>2025<br>£'000<br>-<br>9<br>-<br>171<br>1<br>181<br>-<br>181<br>**181**<br>11 mths to<br>2024<br>£'000<br>-<br>20<br>-<br>144<br>-<br>164<br>-<br>164<br>164<br>Depreciation<br>(Note 10)<br>Depreciation<br>(Note 10)|Other<br>Year to<br>2025<br>£'000<br>15<br>131<br>77<br>361<br>300<br>869<br>22<br>891<br>**906**<br>Other<br>11 mths to<br>2024<br>£'000<br>17<br>214<br>98<br>382<br>334<br>1,028<br>24<br>1,052<br>1,069|**Total**<br>**Year to**<br>**2025**<br>**£'000**<br>**15**<br>**1,571**<br>**218**<br>**763**<br>**529**<br>**3,081**<br>**22**<br>**3,103**<br>**3,118**<br>Total<br>11 mths to<br>2024<br>£'000<br>17<br>1,779<br>216<br>674<br>525<br>3,194<br>24<br>3,218<br>3,235|Total<br>11 mths to<br>2024<br>£'000<br>17<br>1,779<br>216<br>674<br>525<br>3,194<br>24<br>3,218<br>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 -----**<br>
||||
|---|---|---|
|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 -----**<br>


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


**----- Start of picture text -----**<br>
||||
|---|---|---|
|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 -----**<br>


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



## **12. TANGIBLE FIXED ASSETS** 

|**Cost**<br>At 1 August 2024<br>Additions<br>Disposals<br>Transfers<br>At 31 July 2025<br>**Depreciation**<br>At 1 August 2024<br>Charge for the year<br>Disposals<br>At 31 July 2025<br>**Net Book Value**<br>**At 31 July 2025**<br>At 31 July 2024|**Freehold**<br>**property**<br>£'000<br>4,531<br>215<br>(135)<br>-<br>4,611<br>2,058<br>131<br>-<br>2,189<br>**2,422**<br>2,473|**Plant &**<br>**machinery**<br>£'000<br>231<br>-<br>(23)<br>-<br>208<br>151<br>24<br>-<br>175<br>**33**<br>80|**Fixtures,**<br>**fittings & IT**<br>£'000<br>575<br>30<br>(4)<br>-<br>601<br>506<br>23<br>-<br>529<br>**72**<br>69|**Motor**<br>**vehicles**<br>£'000<br>141<br>-<br>-<br>-<br>141<br>136<br>2<br>-<br>138<br>**3**<br>5|**Total**<br>£'000<br>**5,478**<br>**245**<br>**(162)**<br>**-**<br>**5,561**<br>**2,851**<br>**180**<br>**-**<br>**3,031**<br>**2,530**<br>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.**<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>**15.**<br>Bank loan<br>Trade creditors<br>Amount owed to parent undertaking<br>Other creditors and accruals<br>Fees received in advance and deferred income<br>Social Security and other taxation<br>**16.**<br>Bank loan<br>Deposits held<br>Pension liability (Note 19)<br>**Reconciliation of movement in deferred income in the period**<br>Balance brought forward<br>Released to the statement of financial activities<br>Received in the period<br>Balance carried forward<br>Deferred income relates to fees received in advance.<br>**Bank loan**<br>Due within 1 year<br>Repayable in 1 - 2 years<br>Repayable in 2 - 5  years<br>Due in more than 5 years<br>Balance carried forward<br>**CREDITORS:**Amounts falling due after more than one year<br>**DEBTORS**<br>**CREDITORS:**Amounts falling due within one year|**2025**<br>2024<br>**£'000**<br>£'000<br>**776**<br>746<br>**32**<br>21<br>**198**<br>60<br>**1,006**<br>827<br>**60**<br>60<br>**79**<br>69<br>**443**<br>-<br>**57**<br>31<br>**663**<br>846<br>**133**<br>-<br>**1,435**<br>1,006<br>**279**<br>326<br>**101**<br>91<br>**125**<br>62<br>**505**<br>479<br>**846**<br>786<br>**(846)**<br>(785)<br>**663**<br>845<br>**663**<br>846<br>**60**<br>60<br>**60**<br>60<br>**179**<br>179<br>**41**<br>87<br>**340**<br>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.**<br>**Current period**<br>1 August<br>2024<br>£'000<br>Restricted funds<br>-<br>Unrestricted funds<br>2,287<br>**2,287**<br>**Prior period**<br>1 August<br>2023<br>£'000<br>Restricted funds<br>-<br>Unrestricted funds<br>2,632<br>2,632<br>**18. ANALYSIS OF NET ASSETS BETWEEN FUNDS**<br>**Current period**<br>Restricted funds<br>Unrestricted funds<br>**Prior period**<br>Restricted funds<br>Unrestricted funds<br>**FUNDS MOVEMENT**|Income<br>£'000<br>11<br>2,581<br>**2,592**<br>Income<br>£'000<br>-<br>2,890<br>2,890<br>Fixed assets<br>£'000<br>-<br>2,552<br>**2,552**<br>Fixed assets<br>£'000<br>-<br>2,627<br>2,627|Expenditure<br>£'000<br>(1)<br>(3,117)<br>**(3,118)**<br>Expenditure<br>£'000<br>-<br>(3,235)<br>(3,235)<br>Net current<br>assets<br>£'000<br>10<br>(296)<br>**(286)**<br>Net current<br>assets<br>£'000<br>-<br>139<br>139|Transfers<br>£'000<br>-<br>-<br>**-**<br>Transfers<br>£'000<br>-<br>-<br>-<br>Long term<br>liabilities<br>£'000<br>-<br>(505)<br>**(505)**<br>Long term<br>liabilities<br>£'000<br>-<br>(479)<br>(479)|**31 July 2025**<br>**£'000**<br>**10**<br>**1,751**<br>**1,761**<br>31 July 2024<br>£'000<br>-<br>2,287<br>2,287<br>**2025**<br>**£'000**<br>**10**<br>**1,751**<br>**1,761**<br>2024<br>£'000<br>-<br>2,287<br>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<br>Due within 1 - 5 years|**2025**<br>**£'000**<br>**11**<br>**5**<br>**16**|2024<br>£'000<br>1<br>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<br>Debt due within one year<br>Debt due after more than one year|At 1 August<br>2024<br>318<br>(60)<br>(326)<br>**(68)**|Cash flows<br>(175)<br>-<br>60<br>**(115)**|Other non<br>cash<br>-<br>-<br>-<br>**-**|**At 31 July**<br>**2025**<br>**143**<br>**(60)**<br>**(266)**<br>**(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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