St. Edmund's School Trust Limited A Charitable Com Limited B Guarantee Com an Number: 01425355 istered Chari Number: 278301 ort Of The Governors And FinaneiAI Statements For The Year Ended 31st Au ust 2025 Index Page Report of the Governors I to8 Report of the Auditors Statement of Finan¢ial A¢tivilies 12 Stat¢m¢nt of Cash Flows 13&14 Balance Sheet 15 Notes foiThing part of the Finllncial Siatemenls 16to25 KNOX CROPPER
Page I St. Edmund's School Trust Limited ort OfThe Governors For The Year Ended 31st Au ust 2025 Reference And Administrative Information St. Edmund's School Trust Limited ('the School,) was incorporated as a company limited by guarante¢ on 4 June 1979, number 01425355, and is a registered charity, numbei. 278301. The liability of the Ineinbei's is liiniled to £1 each. The I'egistered office and principal address of the Coinpany is at Hindhead, Surrey, GU26 6BH. Governors The Gov¢mors of the School who are the directors of the Company and also the charity ti'ustees, are: J A Alliss B A Bower M Carter J A M Crowley. {appointed 2511112024) B E Fai'ley, BEM (to 3111212025) B E Gandy, (appointed 2110112026) Di. T G A Gi'ifyitlis, MA, DPhil (resign¢d 3111212025) L Maundei. L G Michael N G Neeson (appoiiiled 1110212026) D Sinclair (appointed 2511112024. resigned 2110312025) J E Taylor (resigned 0110412025) P Thacker (appointed 1010212026) (Chaim]an) (appointed 2110112026) (Deputy Chairman) Meinber of the ResoU¢S Committee Officers and advisors Headmaster.. A J Wallikei., MA(Cambridge), MBA, PGCE Butsar.. J Beeston, BSC. ACA Cotnpany Sectttary.. M Carter Auditors.. Knox Cropper LLP Office Suite I, Haslemere House Lower Street Hasletnei'e Sui'rey GU27 2PE Bankers.. Lloyds Bank plc 5 Tlie Square P¢tei'sfield Hampshir¢ GU32 3HL Solicitors: Blake Morgan LLP Hai'bour CoLlIt Coinpa5s Road North Hai'boui. Poitsmouth Hampshii'e P06 4ST
Page 2 St. Ediiiuiid's School Trust Limited R¢ ort Of The Goverilors Foi. The Yeai. Ended 31st Au ust 2025 PROFILE St. Ediniind's School is pi'oiid of ils jOLiriiey froin a well-regarded traditional pi'eparatoiy s¢hool to a thriving co-ediicational institution offei'ii)g a seainlcss educatioiial expei'ieiice fi'om Niirsery Ilirough to GCSE al age 16. Siiice lauiicl)ing tlie senioi. scctioii iii 2014, we liave coi)tii)Iied to biiild 01) oui. rich heritage, combiniiig acadginic excellLnce, creativity, pas101.al slrengili, and a Iiui'liii'ing eilios ii) ali inspii'ing rural settiiig of close to 40 aci'es. We now have circa 620 pupils wiihiii excess of 200 at our sister school. St Hilary's. Our Senior School Vision.. A distiiict identity that compleinents but i'emains connected lo our Pi'eparatory School. A ciiltiire of acadeinic I'igoui., iiidividual atlenlion. ai)d pa5tordl cxccllcnce. A broad and flexible GCSE curi'iculum tailoiEd lo pupils, slrengihs and aspirations. Sinall class sizes (avei'age of15 Plipils pet. class), ensiiring personalised l¢aming. A higli-qiiality, Inoi'e accessible alteriiative to local senioi. school options. A smooth transition fi'om Prep to Seiiior School, suppoiting continiiity and family Iieeds. Oui. ainbitioi) is siinple: to ciiable evely ¢liild lo tlii'ive intellectually, einotionally, creatively, and so¢ially. St. F.(Imund's School Trust St. Edmund's and st. Hilary's siiccessfully coinpl¢ted their mergei. in Novcinbcr 2024. ciEating a strengthened foiindation built on sliared valiies, educational excellence, and long-term siistaiiiability. Siiice tl)e Inei'ger, tlie pai'tiiei'sliip between the two schools has coiiliiiued to gl'ow succcssfullyg while preserving the distiiict ideiitity, ti'aditions, and leadei'sl)ip of eacl) school. The relationship is already delivei'ing clear educatioiial benefits tlirougl) shared expertise. expanded oppoitunities for piipils. 8nd improved opcratioiial I'¢silien¢c. The stioiig alignineiit bctwecii the two schools is I'cflcctcd iii pupil Ii'aiisition, willi 20D/o+ of tlie piipils joiniiig Y¢ar 7 ii) S¢pl¢inb¢r 2026 coinii)g fi.01 Si Hilaiy's School. 'I'liis demonsti'ates the contiiiued coi)fidei)ce families pla¢e in the pathway b¢tween the two s¢hools and the strength of ti)e partnei'ship moving fonvai'd. GROWTH ATr4D DESTINATIOIYS St. Edmund's contiiiiies to glow in botli reputatioii and eni'olinent, with particularly strong demand at tlie Year 7 ei)try point. Our distinctive coinbiiiatioii of acddeinic excellence and a sti'ong sense of coininuiiity Continue to attract piipils from a wide range of rcspcclcd scliools, iiicluding cnInore, DunhLllSt, Fi'eiisham I leights, Barrow klills, RGS, Scaford, and14ighfield. Oui. Year I I pupils consistei)tly achieve excellent GCSE resiilts, with recent leav¢i's piogi'essiiig to a niiinber of leading sixth foi'm colleges and ii)dependei)t schools siicli as Chai'lei'house, Bcdalcs, Bradfield, Godalming College, Reed's. Wellington, Crdnleigh, St Edwai'd's Oxford, and Winehest¢r College, among others. In I'ecent years, liowever, Chaiiges to VAT I'cgulations have infliienced post-16 choices, with 8 growing niimbci. of fainilics opting for sixth foim collegcs. As a I'csult, thc higl)est propoition of oiii. piipils iiow piogi'ess to Godalining College, followed by Bol)Iint. This rcprc5¢nls a significant cultui'al sliift coinpared with pallems seen prior to the VAT changes. Further details about our ¢oinpi'ehensive GCSE programme and leaveis, destinations can be found on liere: litti)q'.IlIVI1..S2 intediiiiiiids.co.liklp£1 ocI?title=Seiiioi'+Scliool+Fonns+9-1 l &pid-36
Page 3 St. E(linund's School Trust Limited ort Of The Governors Foi- Tlie Year Ended 31st Au U5t 2V25 PROFILE (CONTINUED) St. Edmund's Senior School Niimbers of piipils IliroiiglioLlt tlie scl)ool have continiied to grow this year and demand foi. pla¢es I'emaii)s stroiig. Scvei'al Op¢n Moi'nii)gs take place eacl) leiin foi. the diffei'ent sections of the scl)ool ai)d w¢ liosl a Senior Step-up Inoi'ning foi. prospective pupils, tliat Inay be joiniiig us in Foi'in 9 as well as eun'ent pupils. We host a 'FutUir Schools, eveniiig for pareiils aiid piipils in Foiin l O, where we provide all the information and advice reqiiii'ed to help guide piipils with the next stage of their education at 16+. Standai'ds at the school al'e al tl)e Iiighcst Icvcl aiid staff piovide tlie i)iiitLiring yel cliallei)ging environmei)t in wliicli tlie cliildren are able to thi'ivc, achieve, and ciijoy. An cxpand¢d Icadership teaiii was put iii place to cope with tlie expaiisioii and a new tiiiielablc Lising 60 Ininute lessoiis has beeii inti'oduced. Tl)e Inost recent inspectioi) by the Independent Schools Inspe¢loi'ate {ISI) took place in October 2024. The inspectioi) was cai'i'ied out undcr th¢ piolocols of the new 'FI'ainewoi'k 23, ai)d Ihc r¢ports do not contain ali overall jiidgeincnt oi. grading of the school. Therefoi'e, scliools al'e no longer rated 'excell¢iil" (oiii. pirvi011s gradiiig5) but instead the I'epoit fociisses on the extent to whicli a scl)ool Ineets tl)e ci'ilei'ia for tl)¢ ¢xp¢cl¢d stai)dai'ds in an indepeiident school. The ii)spectoi3 judged St. Edmui)d's to liave mel the I'equired Iiidepeiidei)t School Siaiidai'ds ii) all areas; leadership aiid iiiaiiagemeiit, ai)d governaiice. quality of education, Ii'ainin&i and re¢reation', pupils, physical and Inental health aiid etnolional wellbeii)g; pupils, social and economic education ai)d contribution to society. ai)d safeguarding, and tliey coininented positively on every aspect of the provision. Tl)e report includes som¢ i'cally fantasti¢ feedback about thc quality of education and sts'oiig sense of coininiinity heit ut St. Ediiiund's. The fiill I'epoit can be found on oui. website: www.saiiiicdmunds.co.ukl¢o-ed-ind¢pend¢nt-school-surreyliiisi)e¢iioii-report ACADEMIC EXCELLENCE Academic results continue to be very sli'ong. The school has continued to pcrform stroiigly financially Ircordiiig a sui'plus of £94,913 duriiig the yeai.. It is tlie governors, policy to apply siirpliises to iiivest in improv¢m¢nls to the s¢liool's provision foi. ils childi'en. In 2013 planniiig petThission was granted for a new classroom block in¢orpoi'a¢iiig two new senior science laboratories, a science pi'eparation room, an art studio, and six Lienei'al classraoms. Biiilding woi'k look place during the academic yeai. 2013114 ai)d the new biiilding, named the W H Aiiden Centre aftei. one of the s¢liool's famoiis Old Boys, was opened in October 2014 by tlie late Sii. Briice Foi'syth. A i)ew desigyi technology centre opened showcasing the latest Inachineiy and technology. In 2016, the Dimbleby Rooins, foul. new senior classrooms natned after tl)e bioadcaster Richard Diinbleby. were opened by our Old Boy Jonaihai) Dimbleby. Classi'ooms at il)e back of the Jiibilee Hall underweilt exteiisive I'cfurbishing and rebuildiiig worlcs whilst a new Miisi¢ Block of practice and ensemble rooms was crcated. In addition, a new Textiles Stlidio was opened adjacent to the Technology centi'e to allow focus on those ¢l¢inents of Al't ii)volving a wider range of Inatei'ials and a thii'd specialist Scieiice Laboratoi'y was opened. In Januaiy 2019 tlie Alliss Building was opei)ed for cliildreii in tlie lowei. yeais, pi'ovidiiig 8 spacious, air-conditioned classi'ooms and ai) extensivc decking aira allowing free-flow play. In 2021 we opened the new Fai'ley Hall inclLiding a lai'ge, combined sports hall aiid theatre Space with an adjoining classi'ooin and di'ama studio. Tl)is waq ¢loqely followed by a laig¢ dii)ing hall and kitch¢n in 2023 wl)icli lias allow¢d tl)¢ subsequent redevelopment of the fomer kitchen area into a new suit¢ of offic¢s ai)d Inain I'eccption ai'ea.
Page 4 St. Edmund'5 School Ti'ust Limited ort Of The Governors For The Yeai. Ended 31st Au ust 2025 ACADEMIC EXCELLENCE (CONTINUED) In 2026, we invested in a new outdoor classroom, the Hai'mony Hub, in response to the gl'owing demand for outdooi. leai'ning opportunities. Development of the school site has ¢ontinued throughoiit the yeai., witli further eiilianceinents made to botli the Inaiii buildii)g and suri'ounding outdoor ai'eas. The scliool has I'ecently received planning pernlission for a new Astroturf Miilti-Pui'pose sports facility and is currently preparing a planning application for a new Art and Technology teaching block A new suite of wellbeing rooms has also been created at th¢ top of the main school building, including a dedicated wellness space known as The Buri'ow. Staffed by a m¢mbei' of teaching staff thi'ougl)out the school day, this calm and suppoitive environment is available for pupils who may need a quiet space to reset before retui'ning to lessons. In addition, we have expanded oui. miisic facilities through investment in new peripatetic tniisic rooms and dedicated music technology rooms, fui'ther ¢nri¢liiii8 Opportunities foi. creative and performing ails education. CO-CURRICULAR EXCELLENCE At St. Edmiind's School, the Music Departtnent 15 ¢Otntnitted to delivering a rich and well-rounded musi¢al education, offering a wide range of opportiinities that cater to the diverse interests and abilities of oui. sludcnls. Throughout the academic year, we present a variety of concerts that higl)light student lalent across all levels- from beginners to advan¢ed musicians. These carefully progi'ammed performances take place in ai'ray of inspiring veniies, incliiding Fai'ley Hall, the Chapel, Jubilee Hall, St Luke's CIILir¢h in Gi'ayshoti but also Wii)cl)ester Caihedi'al, Cliicl)cster Cailledi'al and most r¢¢enily in Covent Garden at St. Paul's Chui'cli and not roi'gelting our Chapel Choir tour to Sicily last year. Pei'fomiing in sueh vai'led settings not oiily enriches Ilie concert expei'ience but also nuitui'es adaptability and aitistic giDwth. signifi¢ant numb¢r of our students receive individual luition from our dedicated visiting miisic teachets, who bl'ing expertise in voice. piano, violin, Cello, giiitar, di'ums, bagpipes, woodwind, and brass. Many pupils choose lo cliallenge themselves furtl)er by working towards ABRSM and Trinity music ¢xams, r¢fle¢ling their dedication to musical excellence. Our Year I I GCSE Music students are currently preparing for the next stage of their miisical journey, with many planning to Continue th¢ir studies at sixth forms and ¢oll¢g¢s renowned for their perfoming art5 provision. Beyond the classroom, w¢ offer a vibrant pi'ogramme of co-curriculai. activities design¢d to broaden students. miisical experiences. These iiiclude the Chapel Choir, The Probalionei's (our lowei. school cl)apel choii.), the Show Choii., the Vicars Choi'al of the Cliapel (senior chapel choir), oi'chestra, l'ock band. brass band, Inusic technology workshops, themed concerts with live bands, and full-scale musical productioiis. These activities not only support musical development but also fostei. teamwoi'k, confidence, and a strong sense of community. Music remains a vital and dynamic pait of our CLlI'I'iculiiin. Our teacliing combines traditional miisicianship with modern music technology, ensuring Students gain a ¢ompreli¢nsiv¢ iinderslanding of Inusic across geiii'cs ai)d eras. This integrated approach cultivates both technical skill and a deep appreciation for the rich tapesliy of classical and contemporary music. Drama We have a thriving Di'ama Departm¢nt hosting an exhilarating ari'ay of pi'oductions that showcase th¢ inci'edible talents of our studen15 frotn Form 3 to Foi'm I l. From piipil and pairnt demand we added an addilioi)al sliow to the di?ma piogramine this yeai. with Elf, The Musical added for our Foi'tn 7 and 8 pupils in the Michaelmas term 2025.
Page 5 St. Edmund's School Trust Limited orl Of The Governors For The Yeai. Ended 31st Au ust 2025 Drama (continued) Kicking off in March. our senior students brought West Side Story to life filling the auditorium with moving pei'formances aciY)ss 3 days. W¢ w¢re delighted to have been nominated in the best musi¢al category al the National School Tl)eatre Awards. In May, th¢ spotlight shifted to our Forni 3 and 4 students, who enchanted everyone with their enchanting rendition of 'Winnie The Pooh. As the yeai. progressed, oui. talented Form 5 and 6 students took centre stage in the iconic "Annie, The Musical. There were plenty of p¢i'fornian¢es for oiir GCSE Di'ama students in the academic year 2025-2026. November saw the Form 10 and I I sliideiils share tli¢ir cirativity with ilT]pi'essive, dcvised pieces that captivated a pa¢k¢d audi¢n¢e. Later in March. the FoiTh I Is showcased their theati'ical skills with exli'acts from 'The 39 Steps" by Pali'i¢k Barlow, a thrilling pei'forinance that was both assessed and integi'al to their final grades. Additioiially, our Fomi 9 students Swept eveiyone away with Iheir dynamic ¢xli'a¢ts from 'Shakespeai'e in Love,, a fresh and engaging adaptation of the beloved Oscar-winning film while in Jiine they pei'fomied their di'aina GCSE text performance of -A Monstei. Calls" Adding to this Markable year, ovei. 75 students from the LAMDA programm¢ undertook exains diiring the Sumtnei., achieving outstanding results. The pupils excelled in their examinations, with every child acliieving at Mei'it Level or above. An impressive 950/0 of grades were awai'ded Distinctioi)5, covering qualifications from Entry Level to Grade 6 (Bronze Medal). Thos¢ who took Ilieii. medal exams liave soine extlB UCAS points to be very proud of. Art The Art department continues to be very successful, and pupils have enjoyed developing woi'k in a range of two and three dimensional Inedia - showcasing ex¢ellent creative Skills. GCSE I'esults were fantastic, with extlEmely positive ¢omm¢nls made by Ihe exam board about the quality and bi'eadth of woi'k produced. Many students ar¢ choosing to work using Textiles as an Art medium and to high levels of ability. GCSE niimbers in Ai'l are continuing to inciEase compared lo pi'¢vious years. All children in the prep school are involved in our piiblic speaking eommunily programme, fioin pai'liamentary style debating in the wiTrtei' to Poetry Recital and Declamation in the spi'ing and suminei.. Educational ti'ips that support l¢ati)ing iii the English depaitment are ci'ucial to success fi'oin local community Iheati'e to pei'foi'mances / study day5 at the Globe theatre. We additionally support National Poetiy Day and World Book Day by organising poeliy writing competitions as well as hostillg visiting authoi's. Thei'e is a fully stocked library, manned by Fomi 8 children, which is continiioiisly accessed for l'eading l'est which houses a range of Young Adult fi¢tion and non-fiction. Sport Spoil at St. Edmunds has flourished ovei. the last year with our n¢w Dii'eclor of Sport, Petei. Beai'd, heading up the depaitment. Fixtui'es hav¢ continued lo be played with more teams going out than ever befoiE. On a Wednesday afternoon il is ¢ommon for ai'oLind 22 teams to head out and play a variety of schools around the area. In the Michaelmas term, the Pr¢p and Senior boys enjoyed football, while the gil'ls had hockey for Il)e first tenn. There wei'e soine fantastic r¢sulis all rouiid and botl) sports Irally flourished. The Prep Gil'ls I st Teain were crowiied National Plate finalists playing at the Home of England Hockey. The ¢xti'a curi'icular pi'ogramme has continued on a Fi'iday during gaTnes lessons with tnany piipils using the oppDrtunity lo lake up Judo, Golf, Tennis and Mountain Biking with specialist coaching. Our aftei'.s¢liool piogramme has also been extremely populai. with a wide vai'iety of clubs tlii'ougliout the week for all pupils, with dance lessons with a specialist teacl)ei' beittg exti'emely popular for the Lowei. Prep Scliool.
Page 6 St. Edmund's School Trust Limited ort Of The Governors For The Year En(led 31st Au ust 2025 Sport (eontinued) The fixture progi'amme continued into the Lent temi whei'e the girls enjoyed netball while th¢ boys moved on to rugby in tlic Prep and Seiiioi. School and the Seiiior boys also eiijoyed some Basketball. The Summer temi was thriving with cricket filling the fixture programme and all pupils taking pait in different athletic events during their Fi'iday games sessions. Our athletics, programin¢ l)as been strong with increased opportunities for pupi15 With Inore toui'naments and meets including Waverley Districi Trials at Charterhous¢. W¢ have also be¢ome more ¢omp¢litive playing tennis fixtui'es every few weeks against other local school5, alongside our annual golf matches with Highfield. Our Pirp and Senior sports days saw the 300m track retui'n and the bigger Long Jump and Triple Jump pit up on the Top Field, allowing pupils lo expand tl)eir run-ups and for recoi'ds lo be broken. There were a number of records broken in both the fi¢ld events and 01) the Ii'ack. The divisional lug of wai. sl)ow¢d some sti'ong Cotnpelilion. On the academic side of spot1, we had a strong set of Sport Science and GCSE PE I'esults with the students sliowing hard work and dedication to tlieir theory work as well as their practical exatn5. Our Saturday Clinics are ever populai., offered lo pupils in Fonn l O and Forni I I to provide exlra small group teaching time to assist with I'ecent topics, revision and coui'sework. STRUCTURE, GOVERNANCE AND MANAGEMENT GoverniDg document Tl)e Coinpany is govcmed by its Memorai)dum and Article5 of Association dated 4th June 1979, as amended by special resolution dated 17th March 2014 and a furtl)er amendment 011 25th June 2018. Governing body The Govei'nois, who are also requiiEd under the articles to seive as members of the Company, are elected at a full Governors, Board meeting. Govei'nors are I'e¢ruited on Ihe basis of nominations re¢eived lo the Board's specifications concerning eligibility, personal competence. specialist skills and local availability. Trustee training New Goveinors are inducl¢d into the workings of the School, and also of thc Coinpany as a registered chai'ity, including Board Policy and Pi'o¢edures. by the Head, Buisar. and Chaii'man and Deputy Chaii'man of Governoi's. Organlsational management The Governors meet as a Boai'd al least three tiTnes a year, once in each academic term, to deterniine the genei'al w)li¢y of the Company and rcvicw ils overall Inanagement and coiitrol, for which Il)ey al'e leb7ally responsible. The Board also meets annually for an 'Away Day, to disciiss the S¢hool's long-lerm strategy. The Resources Committee, chaired by the Board's Deputy Chaii'man, carries out the work of impleincnting most of the Board's poli¢ies and meets two weeks before each Ineeting of th¢ full Governing Board. The Remuneration Committee is a sub-coininittee of the Finance Committee and meets annually to review staff pay and benefits. T])e day-to-day running of the School is delegated to the Headmaster, suppoited by the BLlI'sar who is responsible for financial and admiiiisti'ation matters, and by other t¢a¢hing Illeinbets of the Seiiioi. Manageinent Team. The Resoui'ces Coinmittee and tlie W¢lfar¢ and Ediicalion Committee meet on¢e per academic term and assist in the overall manageinent of the gl'owing school.
Page 7 St. Edmund'5 School Trust Limited ort Of The Governors For The Year Ended 31st Au ust 2025 STRucfuRE, GOVERNANCE AND MANAGEMENT (CONTINUED) Relationsliip5 We welcotnc tlie local community in an ongoing piogramine to widei) PLiblic acce5S to the schooling we can provide, to optiini5e the educatioiial use of oiir culiiiral and sporting facilities and to awaken in oui. pupils an awareness of th¢ social ¢onl¢xl of the educalioii they receive at the Scl)ool. Exampl¢s are our Technology Day, our football and cricket lournainenls, Cioss Coiintiy events and use of oui. ii)door swimming pool by othei. 5cliools for their switntning lessons. In association with St Luk¢'s Chui'cli tl)e school co-sponsois and underwrites the employment of a Youth Worker in the local commui)ily. S¢hool minibiises al'e regularly loaned lo local schools and ¢hurch¢s. The School benefits from the support of a thriving Old St. Edinund's Association for formei. pupils, St. Edmund's is a meinber of the IAPS for the promotion of pi'¢paralory school standards and the Headmastei. is a member of the national Finance Comtnittee. Ris11 management Tlie tneinbei's of the Board of Goveinors have overall responsibility for ensuring tliat the School has appi'opriate systems of control, cai'e, financial and otherwise. The systems of financial conti'ol al'e desigiied to pi'ovide reasonable, bul not absolute. assui'ance agFainsl malei'ial misstatement of loss. They include an aiinual budget, approved by the Board of Govei'nors, reuyular review of a¢tual results and variances from budget, and delegation of authority and segi'egation of duties as far as possibl¢ given staffing levels. The Board of Governors formally monitors risks annually and sets up policies to mitigate them. The meinbei's of the Board of Goveniois are cotninitted to ensuring that the School's whole system of internal controls are adequate and effective. A iiumber of steps have been taken to ¢nhance further the existing systems of internal control. These include.. a) A progressive revision and upgrade of risk management arrangetnents. and b) A review of the Risk Assessment programme to incotyorate both qualitative and ¢omplianc¢ review of all of the School's activities. OBJECTS, AIMS, OBJEcfivES AND PIUNCIPAL AcfIviTIES The Object of the Company, in accordance with its Memoi'andum of Association. is the education of children. In the fuitherance of this Obje¢t, the Gov¢rnoi's have complied with the duty in section 4 of the Charities Acl 2006 10 have du¢ regard to the Charity Commission's guidance on public benefit when VIewIng objectives and planning activities. Strategie aim and intended effect The School's strat¢gi¢ aim is lo provide th¢ highest quality of academic luilion and extra-curricular activiti¢s where pupils Can develop and fulfil their potential and become active, responsible members of the Community. Objeetives for the year The Board's main objective continued to be lo educate all the School's PLipils to al least the same high standai'd acliieved by the School in previous yeais, so that they will be ideally placed to gain m&ximuin b¢n¢fit from their Chosen senior schools. Prlneipal Aetlvity St. Ediniiiid's Scliool continLies to opei'ate as a nui'sery &nd pre-preparatoiy school for boys and girls aged 2 to 7, a preparatory school foi. boys and gil'ls, aged 7 to 13, and a senior school for boys and gil'ls ages 14 to 16. with flexible boarding options. There were 620 pupils in 2025.
Page 8 St. Edmund's School Trust Limited R¢ ort Of The Governors For The Year Ended 31st Au ust 2025 OBJECTS, AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES (CONTINUED) Gi'ant-making This yeai. we have siippoited 73 piipils Il)roiigh scholatships and 27 throiigh means-tested bursaries, valiied at a ¢ombined total of £331,055 foi. the y¢ar. S¢holarships are awarded by the Headmastei., whilst means-tesled biirsaries are gj'anted by the Bui'sar, aftei. consultation with the Governors, Resources Committee. Public benefit We al'e considering meai)s of providing fuither support lo parents wliose cliildren would not otherwise be able to affoi'd private educalioi). The Governoi's have refei'red to the guidance contained in Ilie Charity Commission's guidance on publi¢ benefit. In partieulai. the Goveinoi's considered how planned aetivilies contribiite to the aims aiid objectives of the School and are satisfied that this ig the case. Examples of public bciiefit activitie5 can be found in thc piofile section of the Report of the Governors. Volunteers Fi'iends of St. Edmund's (FOSE) is a volunteer group of pai'ents that works tirelessly to organise and run a range of events that raiscs thousands of pouiids for the benefit of th¢ School whil¢ en¢oiiraging a fi'iendly, cohesive coininunity through social eveiils. Nuinerous pi'ojects al'e funded thi'ough this genei'oslty and the Board of Govei'nors wishes lo take this opportunity to express its gi'atitude for the coi)tiiiued suppoit and valuable work of these paiEnts and friends. REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR OperationAI performanee of the School All oui. leavers gained enliy to their first choice of senior school and the results in pre-tesls lo academically selective senior schools were at theii. highest in the school's I S l year history. Fundraising performance The money raised by FOSE this yeai. is being saved towai'ds a new Trim T17il to be cominissioned in the n¢xl 8¢8demic year. FINANCIAL REVIEW AND RESULTS FOR THE YKAR The Govemoi's al'e again very pleased with the financial results for the year. The surplus for th¢ y¢8r, excluding the Credit arising fiom the chai'ity combination, was £966k which is aftei. the annual depreciation chai-ge for the y¢ar of |£1,043k and interest payable on bank loans of £284k. Excluding the Charity coinbination ci'edit the School's Earnings Before Inlei'est Tax and Dcpreciatioii is therefore £2,294k for the yeai., 16% of n¢ fee income cotnpai'ed to a sector avei'age of l 00/0. This strong financial perfoi'mance reflects tlie tight fiscal management and growing pupil numbers despite the dfifficult economic climate for independent schools eui'i'¢i)Ily. Tlie School achieved an operating surplus of £4,280,872 which will be added to geiieral. restricted and endowinent funds as details iii the Statetnent of Financial aetivities. The pi'incipal soutrc of fLinding for the School remains tuition fees. Resee$ Policy The Charity Commission expects that all ¢hai'11ies liave plans to spend the money that they receive foi. chai'itable purposes. How¢ver, they also expect cl)arities to hold reserves to tneet specific longer tenn chai'itable purposes, and also to mitigate tlie risks iiil)er¢nt ii) their bLisinesses. Tl)e Govei'nors believe that Il)e major financial risks the School I'equir¢s I'eseives for are..
Page 9 Si. Edmund'¥ School Trust Limited Re ort Of The Governor5 Foi. The Year Ended 31st Au ust 2025 Reserves Policy (continued) To address the possibility of a rapid downturn in pupil numbers which would adversely affect our in¢ome generation. Thus a reserve would be needed to allow for a restructuring of the Sehool. 2. The School has built, and intends to continue building> reserve5 to ensure its existing operations remain fil for purpose and to develop new Services. 3. The School intends lo continue building reseives so as io be able lo ¢onlinue lo make iTnprovemenis lo facilities and the estate. The Balance Sheet showii in these financial statements, and broken down ill illore detail in note 13 shows the School to have Reserves of £8,527,697 at 31 sl August 2025. These reserves are held in unrestricted, reslricl¢d and endowment funds. GOING CONCERN The Governors consider that the School remains a going concern and that this is the appropriate basis on which to prepare the financial statements. FUTURE PLANS Planniiig p¢rniission has recently been approved for a new astro which will be a welcome addition to th¢ school's facilities. A potential new purpose-built Art and DT facility are also under considei'ation. STATEMEiYf OF GOVERNORSI RESPONSIBILITIES Company Law requires the Govemors lo prepair accounts for each financial year which give a true and fair view of the state of affaii'5 of the School and of ils i)et incoine or exp¢iiditure for the year. In preparing the accounts, the Govemors are required to.. select suitable accounting policies and then apply them consistently? make judginenls and eslimat¢s that are reasonable and pnJd¢nt' state whether applicable accounting staiidard5 liave been followed, subject to any mateTial depailures that are di5c105ed and explained in the financial statements- and prepare the accounts on the going-concern basis unless it is inappropriate to presume that the School will continue in business. The Governors are responsible for keeping proper a¢counting records which disclose with r¢asonable accuracy the financial posilioii of tlic Schotsl at aiiy tim¢, and to enable Ihein to ensure that the accouiils coinply with the Companieg A¢t 2006. Th¢y are also responsible for safeguardiiig the assets of the School and, thefOr¢, for taking reasonable steps for the pr¢v¢nlion and detection of errol., fraud or oih¢r irregiilarities. In the case of each of the persons who are gov¢mors al the time when the report of the governors is approved.. 50 far a5 eacli Governor is aware, there is no relevant aildil information {infoiThalion needed by the School's audit015 in connection with preparing their pOrt) of which Ilie Scliool's auditors are unaware; each Governor lias taken all the steps required of Govemors to Inake himself oi. h¢rself awar¢ of any levant audit infoiination aiid to establish that the School's auditors air aware of that infoimalion. AUDrroRS In accordance with Sectioi) s.485 of Il)e Companies Act 2006, a resolution pi'oposing th¢ reappoinlmenl of Knox Cropper LLP as auditois lo the S¢hool will bc put to the annual general meeting. Appioved by the BoaiQ of Governors at ils meeting on signed its behalf by.. 55 Cli an
Page 10 Inde endent Auditors, Re ort To The Membei's Of St. Ei dmund?s School Trust Limited Opinion We have audited the financial statements of St Edmund's School Trusl Limited (the 'charitable company,) for the year ended 31 st August 2025 which comprise the Statement of Financial A¢tivities, the Balaii¢¢ Sheet, the Siatem¢nt of Cash Flow5 and the I'elated notes. The finaiicial reporting fi'amework that l)as been applied in their preparation is applicable law ai)d United Kingdom Accounting Standai'ds (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial slatements.. give a ti'ue aiid fair view of the state of the charitable Company's affairs as at 31 st August 2025 and of its income and ¢xpendilure, including its I'esult, for the year then ended. have been properly prepared in accordance with United Kii)gdom Generally Aepted Accounting Practice. and have been pi'epared in accordance wilh the requii'ements of the Companies Act 2006. Basis for opillion We conducted our audit in accoi'dan¢¢ with Interiiational Standards on Audiling (UK) (ISAS (UK)) and applicable law. Oui. I'esponsibililies undei. those slandai'ds al'e fLlrthei' described in tlie Audiloi's responsibilities foi. the audit of the finan¢ial statements section of our rewrt. We are independent of the chai'ilable company in accordance with the ethical requii'einents that are I'¢levant to our audit of tli¢ financial statcments in the UK, including the fRC's Ethi¢al Standai'd, and we have fulfilled oiii. other etl)ical SpOnsibl[tieS in ae¢ordance with tl)ese I'equii'emenls. We b¢lieve that the audit evidence we have obtained is suffi¢ient and appropriate to pi'ovid¢ a basi5 foi. oui. opinion. Conelusions relating to golng ¢onceYn In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accoui)ling in the preparation of the finaiicial slal¢ments is appropriate. Based on the work we have performed, w¢ have not identified any material uncertainties relaciiig to events or conditions that, individually or collectively? may cast significant doubt on the company's ability to conliiiue as a going coneei'n for a period of at least twelve months from when the financial stateineiils are authorised for issiie. Oui. I'esponsibilities ai)d the responsibilities of the directors with respe¢t to going concern are desci'ibed in the relevant sections of this reTX)It. Other infoi'malion The Governors atE responsible for the other infoi'mation. The other information comprises the inforination included in the annual report, other than the financial slalements and oui. Report of the Independent Auditoi's th¢r¢on. Our opinion on th¢ financial Statements does not covei. th¢ other infom)ation and, except to the extent explicitly stated in our report, we do not ¢xpress any form of assurance conclusion Ihei'eon. In connection witl) our audit nf the financial statements, our responsibility is lo read the other information and, in doing so, considei. wliethei. the oth¢r ii)fomJalion is matei'ially inconsistent with Il)e financial statements or our knowledge obtained in tlie audit oi. otherwise appears to be matei-ially tllisslated. If we identify such matei'ial inconsistencies or appattnt misstatements, w¢ al'e reqUId to detei'mine whethei. tliei'e is a material misstatement in the financial statements or a material misslatem¢nl of the other information. If, based oli the work we have pei'foimed. we conclude that there is a Inaterial Inisstatement of this other infoi'mation. we are requii'ed to report that fact. We liave nothing to I'eport in this regard. Opinion on other matters prescribed by the CompAnies Aet 2006 In oui. opinion, based on the work undeitaken in the coui'se of Ilie aiidit.. the infoiination given in the Report of the Governors for the finan¢ial year for which the financial statements al'e prepai'ed is eonsistent with the financial stateinents. and Ihe Repoit of the Govei'nors has beeii prepared in accoi'dance witl) applicable legal reqiiii'einents.
Pa8e 11 Inde endent Auditors, Re ort To The Members Of St. Ei dmund's School Ti'ust Limited Matters on which we are requii'ed to report by exception In the light of Il)e knowledge and uiidei'stai)diiig of the cliaritable Company and its environment obtained in th¢ course of the audit, we have not identified material misstatements in the Report of the Governoi's. We have noihii)g to report in respect of the following Inatters where th¢ Companies Act 2006 requires us to report to you if, in oui. opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from bl'anches nol visited by us. oi. the financial statements are not in agreement with the accounting records and returns. or certain disclosures of Gov¢rnors' retnuneration specified by law are Iiot Inade. oi. we have not received all the infomiation and explanations we require foi. our audit. Responsibilities of governors As explained more fully in the Statement of Governors Responsibilities set oul on page 8, the governors (who al'e also Ilie direcloi's of the Chai'itable cotnpany for the purposes of company law) are respoiisible for the pi'epai'ation of the financial slalein¢nts and foi. beiiig satisfied that they give a true and fair view, and foi. siich internal Control as the goveriioi's detemine is necessaiy to enable the preparation of fiiiancial statements that al'e free from material misstatement, whether du¢ to fraud or ei'ror. In preparing the financial statements, the governors are responsible for assessing the charitable ¢ompany's ability to continue as a going ¢on¢ern, disclosiiig> as appli¢abl¢, matters related to going concern and using the going concei'n basis of accoiinting unless 11)¢ trusle¢s ¢ith¢i' intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain I'easoiJable assui'ance about whether the financial statesnents as a whole are fre¢ from matei'ial misstateinenl, wheil)er due to fi'aud or ei'ror, and to issii¢ a Report of the Indepcndent Auditors that includes oui. opinion. Reasonable assiii'ai)ce is a high level of assurance, bul is not a guai'ai)lee that an aiidil conducted in accordance with ISAS (UK) will always detect a Inaterial misstatement when it exists. Misstaternenls can arise fiom fi'aud or eiyor and are considei'ed matei'ial if. individually oi. in Il)e aggirgale. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these rinancial stateinents. Ii'regLilarities, including fraiid, are instances of non-compliance with laws and regulations. We design procedure5 in lin¢ witli oui. Irgponsibilities, outlined above, lo dete¢t material misstateinenls in respect of ii'regularilies, including fraud. The extent to which our procedures ar¢ capable of detecting irr¢gulariti¢s, including fraud is detailed b¢low'. We obtained an understanding of the legal &nd IEgulatoiy fi'ameworks that al'e appli¢able to the charitable company which have a direct impact on Ilie financial statetneiits and detennined that the most significant are Il)c Financial Reporting Standard 102 'The Financial Rcpoitii)g Standard applicable in the UK and Republic of Ireland, (Uiiit¢d Icingdom Generally Accepted AccoLinting Pra¢lice) and the Cotnpanies Act 2006. We understood how the charitable company is Complying with those fi'ameworks via communieation with thos¢ charged with 8ovei'nance, together with tlie review of the chai'itabl¢ ¢ompany's documented policies nd procedures. We a55¢5sed the sus¢¢ptibility of the charitable company's financial statements to material misstatement, including how fraud might occui. by consideriiig the key risks impa¢ting the finan¢ial statements. These includ¢d I'isks associated with revenue recognition. tnai)agemcnt overi'ide of contiols.
Page 12 Inde endent Auditors, Re ort To The Members Of St. Edmund's School Trust Lxmited Our responsibilities for the audlt of the financial statements (continued) Our appi'oach included agreeing the charitable company's recognition of incotne to th¢ terms of the uiid¢rlying contracts foi. fees. the review of joui'nal entries processed in the accounting I'ecords and the investigation of significant and unusual transaclioiis ideiitified fi'oin our review ofthe a¢¢ounting rccords. Based on Il)is UndetandIng we designed oiir aiidit procedui'es lo identify non-coinpliaiice willi SLicli laws and regulations. Oui. procedures involved revicw of tl)e I'eporting to the dii'ectoi's with respect to the application of the documented policies and procedui'es and review of the financial stateinents lo ensure complian¢e with the repoiting requirements of the charitable company. There are inherent limitations in the audit pi'ocediires described above and, the fuither reinoved non- coinpliance willi laws and I'egulations is fi'om the events and Ii'ansactions r¢flecled in the financial slalement4 the less likely we would become aware of it. The I'isk of not detectii)g a matei'ial Inisstatemeiit due to fraud is highei. thali the risk of not detccliiig one resulting fi'oin enor, as fi'aud may involve deliberate concealment by, for example, foi'gery or intentional misrepresentations, or throiigh collusion. A further description of our responsibilities for the audit of the fin8n¢ial statements is located on the Finan¢ial Reporliiig Council's website at www.frc.oi.g.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This I'epoit is made solely to the membei's, as a body. in accoi'dance with Chapl¢r 3 of Part 16 of the Companies Act 2006. Our audit woi'k has been undertaken so that we mighi state lo the ¢harilable company's m¢inbers those matt¢rs we are required to state to them in an auditors, report and for no oih¢i' purpose. To the fullest extent pei'mitted by law, we do not accept or assum¢ r¢sponsibility to anyone oth¢i' than Il)e Cliarilable company's and the charitable company's tnembers as a body? for oui. audit woi'k, for this report, oi. foi. th¢ opinions we have foi'med. Matthew Elkins FCA (Senior Stalulory Auditor) Foi. aiid on behalf of Knox Ci'oppei. LLP Chartei'ed Accouiilants and Statutory Auditors Office SLlit¢ l. Hasleinei'e House Lower Street, Haslemere Surrey GU27 2PE Dale.. 2)"16[kn
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Page 14 St. Edmund's School Trust Limited Statement Of Cash Flows For The Ye#r Ended 31st Au ust 2025 Total 2025 Total 2024 Net cash flow from operating activiti 836,390 2,804,726 Nel cash pi'ovided by/(used IN) invesling aclivilies Purchase of fixed assets Sale of fixed 8ss¢ls Intei'esl r¢ceiv¢d (863.293) (551,662) 750 7,117 Net cash provided by (used in) investing activities (856,176) (550,912) Net cashprovided by/(used in)financing aclivilies Interest paid Loan advance Repayment of loans and hire purchase (290,787) {304,839) 373.700 {293,281) (311,560) Net cash provided by (used in) financing activities (602,347) (224,420) Change in cash and cash equivalents in the period (622.133) (2,029,394) Cash and cash equivalents at the beginning of the rIOd 2,250,650 221.256 Cash and th equivalents at the end of the period £1,628,517 £2,250,650 Reconciliation of net income to net Cash flow from operating 8¢tivilies Net incoiy)e foi. the reporting period Investment incom¢ Interest paid St Hilaiy's gift excliiding cash acquired Deci'ease / (iiici'ease) in stocks Decrease / (increase) in debtors (Dccrease) l increase in creditors Depreciation L05sI(piofit) on disposal of fixed assets 4,280.872 (7,117) 290,787 (2,986,445) 2,781 162,934 (1,951,691) 1,043,393 786 94,913 304,839 602 (168,375) 1,576,095 996,207 445 Net cash tloiy from opei'ating activities £836,390 £2,804,726 Analysis of cash and cash equivalents Bank balances £1,628,517 £2,250.650
Page 15 Sl. Edmund's School Trust Limited Statement Of Cash Floivs For The Year Ended 315t Au ust 2025 Reconciliation Of Net Debt At 01.09.24 Cash Flows At 31.08.25 Cash and cash equivalents 2.250,650 (622.133) 1,628,517 Loans falling due within one year (227,651) {60,480) (288,531) Loans falling due aftei. mol'e than one year {5,429,402) 335,837 (5,093,565) Hire purchase ¢onlra¢ts falling due within one year {36,203) 20,089 (16,114) Hire purchase contracts falling due within one year (33,822) 16,114 {17,708) £(3,476,428) £(310,573) £{3,787,001)
Page 16 St. Edmund's School Ti'ust Limited Balance Sheet At 31st Au ust 2025 2025 2024 Notes Fixed Assets Tangible assets 15,118,136 11.169,347 Current A8sets Stock Debtors Cash at bank and in hand 6,862 834.697 1,628,517 9,733 560,040 2,250,650 2,470,076 2,820,423 Credilots.. Amoiints Falling Due Withii) One Year 10 3,072,577 3,229,939 Net Current Liabilities (602,501) (409,516) Total Assets Less Cun'ent Liabilities 14,515,635 10,759,831 Ci'editoi's.. Amounts falling Due After More Thali One Year 5.987,938 6,513,006 Total Net Assets £8.527,697 £4,246,825 The funds of the chai'ity.. Unrestrieted Funds Resti'icted funds Endowment Funds 12 12 12 8,320.489 38,474 168,734 4,246,825 £8,527,697 £4,246,825 i)ancial slalements were approved by tlie Board of Governoi's on 2<16)Aig. and signed on ils behalf by.. Mrs A Allis Governors M Carter Coinpany numbei.: 01425355
Page 17 St. Edmund's School Trust Limited Notes Formin Part Of The Financial StAtement8 For The Year Ended 31st Au ust 2025 Accounting Policie5 l. l Basis of preparation of financial statements and #ssessment of going eoncern The fiiiancial statements of the charity, which is a public benefit entity linder FRS 102, have been prepared iiiider the historical cost conveiition aiid ii) accoi'dance with tlie Charities SORP (FRS 102) 'Accoui)liiig aiid Repoitii)g by Charities.. Statement of Recommended Practice applicabl¢ to charities ptEpai'ing their accounts in accordan¢e with the Financial Reporting Standai'd applicable in the UK and Republic of Ii'eland (FRS 102) (second edition issued in Oclobcr 2019),, Finan¢ial Repoiting Standai'd 102 'The Financial Repoi1ing Standard applicablc in the UK and Republic of Ireland, and the Companics Act 2006. The financial statetnents are pi'epared in sterling, which is the pi'esentatioiial cui'ren¢y of the charitable company. Monetary amounts in these financial st8teineiils al'e rounded to the n¢ai'est £. The trustees consider Il)at there are no material uncertainties about the School's ability to conliiiue as a going conccm. Iii the noi'inal course of events and based on expected futiir¢ pupil numbers. the School expects to maintain a budg¢l¢d surplus for the foreseeable fiiliire. 1.2 Fund aeeounting General fiinds al'e Linrestricted funds which are available foi. use at the disci'etioii of the Goven)ors in fuitherance of the genei'al objectives of the charity and which have not been designated foi. othei. purposes. Designated funds comprise unresti'icted funds that have been set aside by the Govei'noi's for particular pury)oses. The aim and use of each d¢signated fund is sel out in the notes to the financial statements. 1.3 Fees and similai. ineome Fees I'eceivable and similar iiicome i'epresenls the value of educational sei'vices pi'ovided dui'ing the year and al'e stated after deducting allowances, scholai'ships and other remissions allowed by the School. Fees aiE genei'ally invoiccd terfflly in advance. Any payment received against such fees is deferred until the start of tl)e relevant teacliing period to wliich they relate. Income from donations is accounted for when received, and if for the general purposes of the School, is included in the genei'al fund. Wliere the donor specifies that the donation is foi. a particiilai. purpose, the incoime is iiiclud¢d in tl)e in¢oinii)g resources of restri¢ted funds when receivable. 1.4 Resources expended All expendiliir¢ is accounted for on an ac¢ruals basis and has been included under expense categories that aggregate all costs for allo¢alion to a¢tivilies. Where costs cannot be directly attributed lo paiticulai. a¢tivities they have been allocat¢d on a basis consistent with the use of the resources.
Page 18 S¢. Edmund's S¢hool Trust Livnited Notes Formin Pari Of The Financial Statements For The Yeai. Ended 31st Au ust 2025 Accounting Policies (Continued) 1.5 Depreeialion tkpi'eciation is provided on pemianent buildings acquired befoiE the year ended 31 st August 2000 al one half pei'cenl pei. aniiuin, ai)d foi. subsequent pi'operties at two peirenl per annum. This is aftei. allowing for the estimated cost of lai)d in the original Ii'ansfer valuc (not subject lo depreciation) of £60,000. In ac¢ordance with the requireinents of the SORP, properties are accounted for on a compon¢nt cost basis with each component beii)g depiEcialed over ils estimaid economic life. The principal components identified and the d¢preciation l'ate Applied loo each ¢omponent are set out b¢low'. Main fabric Roof structure and covering Windows & external dooi's Boilers I heating systems Kitchen Bathrooms I WC Mcchanical systems Electrics Over 70 years Over 70 years Over 30 yeat3 Over 20 years Over 20 yeai'5 Over 30 years Over 30 yeai's Over 40 yeais Depreciation is provided on other fixed assets to wi'ile off their cost ovei. estimated us¢fiil lives ai the following rates.. Freehold buildings of non-pemJanenl ¢onstru¢tion Stoi'age container5 200/0 p.a. on Cost Other 60/0 p.a. on cost Fui'niture, fitting5 and equipment Compulet 33,13% p.a. on cost Otlier l OQ/o p.a. on cost Motor vehicles 250/¢ p.a. on written down value 1.6 Stock Stock is valued at the lower of cost and net I'ealisable value. 1.7 Work in progress Work in progress relates to assets as the couise of construction and is capilalised as fixed assets. Depreciation is not accounted foi., however, until the asset is in economic use. 1.8 Gifts Miscellaneous gifts I'eceived foi. financing items of capital expendiliii'e or given to the h¢adinasl¢r foi. us¢, at his dis¢r¢tion, foi. s¢hool pui'poses are bi'ought into in¢oming I'esoiir¢es. 1.9 Finance leases leasing commitments Assets obtaiiied undei. fiiiance leases al'e capitalis¢d in the balance sheet. Those held linder such finan¢¢ leases are depreciated over Iheii. eslimaled useful life or the lease lemi, whicliever is shoiter.
Page 19 St. Edmund's School Trust Limited Not¢s Formin Part Of The FinaNcial Statementy For The Year Ended 31st Au list 2025 Accounting Policies (Continued) 1.9 Finance leases and leasing commitments (continued) The iiiterest elenient of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the futui'e payments is treated as a liability. Rentals paid und¢r operating leases are chai'ged to the Statetnent of Financial Activitl¢S 8S incurred. 1.10 Pension Costs The Scl)ool paiti¢ipates in the Teachei%' Pension defined benefits scheme (TPS) and also pays into defined contribution schemes open to the School's i)on-leacl)ing staff. The TPS is an unfunded scheme and ¢ontt'ibutions ar¢ calculated so as to Spi'ead the cost of pensions over employees, woi'king lives with the School in such a way that Il)e pension cost is a substantially level percentage of cui'rent and futiire pensionable payroll. The TPS is a miilti- employer pension schem¢ open to tl)e School's leaching staff and it is not possible lo identify the assets and liabilities of the scli¢m¢ attribiitable to the S¢hool. The TPS is Ii'eated a5 a defined contribution scheme aiid tli¢ ¢ontributions I'ecognised as they arc paid each year. The scheme is managed by the Department for Education. 1.1 l Taxation No provision is made for taxation, sinoe the company is a registered charity which has claimed tax exemption status. 1.12 Debtoys and ereditors Debtors and creditors are classified as basic financial instruments and are tneasured and r¢¢orded in the accounts at the initial trnnsaction pri¢e. 1.13 Financial Instruments The ¢hai'ity only has financial assets and liabilities of a kind that qualify as basic financial insli'uments, including ils debtors and creditoi's. These ar¢ initially recognis¢d at transaction value and subsequently valued at their settleinent valu¢. 1.14 Significant management judgements and estimation uncertainties The significant Inanagement jiidgemeiits aiid estimation unccrtainties applicable to these ao¢ounts relate to the areas of.. Impairment of fixed assets The governors assess the carrying value of significaiit fixed assets at the y¢ar end date to detern]ine whether a detailed iinpaii'ment review is indicated. Depreciation l'ates Managcmenl I'¢vi¢ws, and the Govei'iiors confirm, the useful lives of depr¢¢iabl¢ assets when the lemily manageinent accounts ai'¢ pi'epared. Provision foi. bad debts Management monitors the aged debt position Consistently throughout the y¢ai' and reports on a termly basis to the Finance Coinmitt¢e.
Page 20 St. Edmund's School Trust Limited Notes Formin Part Of The Financial Statements For The Year Ended 31st Au ust 2025 2025 2024 Charitable Activities Tuition and boai'ding fees L¢ss'. Scholarships, bui'sai'ies and awai'ds Extras and disbursements recovery R¢gisti'ation fees 16,074,299 (2.440,529) 271,094 15,516 11,222,941 {1,854,495) 171,015 17,925 £13,920,380 £9,557,386 2025 2024 Other Trading Activities Rei)ts and Icttings Sundiy in¢oin¢ 18,153 7.907 9,272 843 £26,060 £10,115 Analysis Of Resources Expended 2025 Staff costs Other eosts Depreciation Total Charitable activitie5 T¢a¢hing Welfare Pretnises Suppoiting Costs of schooling 6,316,729 83,014 605,944 838.632 812,611 1,239,504 1,037,427 1,058,157 482,941 7,612.281 1,322,518 2,160,559 1.940,053 517,188 43,264 £7,844,319 £4,147,699 £1,043,393 £13,035.41] 2024 Staff costs Other costs Deprlation Total CharitAble activitie5 Teacliiiig Weifai'e Premises Supporting costs of schooling 4,340,970 77,804 435,503 615,050 539,351 927,424 774,210 766,069 595,871 5,476,192 1,005,228 1,553,335 1,437,833 343,622 56,714 £5,469,327 £3,007,054 £996,207 £9,472,588
Page 21 St. Edmund's School Trust Limited Notes Formin Part Of The Financial Statements For The Year En(led 31st Au st 2025 2025 2024 Net Movement In Funds Tliis is staled after charging.. Depreciation of tangible fixed assets.. owiied held under hir¢ pui'chase Auditors, remuneration Audiloi's, non-audit costs Intei'est on bank loans Intci'esl on hire purchase contracts 1,014,712 28,681 10,200 3,000 283,962 6,826 959,259 36,948 9,300 3,900 293,663 7,746 2025 2024 Staff Costs Wages and salaries Social S¢eurity costs Pei)sion eonti'ibutions Appi'enticeship levy 6,065,859 655,435 1.107,326 15,699 4.259,272 403.533 800,836 5,686 £7,844,319 £5,469,327 The average monthly number of employ¢¢s in the year was.. 2025 Number 2024 Number Teaching full-time part-time full-tiine pait-time 69 48 13 12 68 Other 30 75 205 141 The number of employees receiving r¢inunei'ation benefits, excluding employer pension costs, of more than £60.000 during the Y]. was.. £230,000- £240,000 £210,000 - £220,000 £120,000 - £130,000 £1 10,000 - £120,000 £70,000- £80,000 £60,000- £70,000 Employinei)t benefits received by Key Manageinenl Pei'sonnel amount to £1,689,531 (2024.. £1,053,146). Key Management Personnel are those persons who, in addition to the Govei'noi's, have directly oi. indiirctly aiithoi'ity and respoiisibility foi. plaiining, directing and ¢ontrolling the activities of the School.
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Page 23 St. Edmund's School Trust Limited Note5 Formin Part Of The Financial Statements For The Year Ended 31st Au ust 2025 Sto¢k 2025 2024 Consumabl¢s £6,862 £9,733 Debtors Fees debtors Prcpaymenls and accrued in¢om¢ Other debtors 151,749 363,048 319,900 146,992 413,048 £834,697 £560,040 Fee debtors are stated net of a bad debt provision of £189,364 (2024.. £Nil). 10. Creditors: Amounts Falling Due Within One Year Fees charged in advan¢¢ Bai)k loans (¢uri'ent instalmenls) Hire purchase Trade creditors Taxes and social security costs Other ci'editoi's Acci'uals 1.460,158 288,131 16,114 282.054 557,691 345,173 123,256 2.365,767 227,651 36,203 190,436 97,653 84,517 227,712 £3.072,577 £3,229,939 Bank loans are secured on the School's freehold land and buildings. 'riic bank loans are repayablc by May 2026, July 2035, November 2038, August 2043, June 2044 and July 2045. Inlei'est is chai'ged respectively at 2.18 /0, 2.000/0 5.840/0, 2.94 /0 above the Bank of England base rate. Creditors: Amounts FAlling Due After More Than One Year rces in advance Bank loans Hirc pui'chase Other ci'¢dilors 468,165 5,093,565 17,708 408,500 743,782 5,429,402 33,822 306,000 £5,987,938 £6,513,006 The bank loans ii)clude wliich is repayable aftei. more than five years.
Page 24 St. Edmund's S¢hool Trust Limited Notes Formin Parl Of The Financial Statements Foi. The Year Ended 31st Au ust 2025 12. Funds 2025 At 0110912024 At 3110812025 Income Expenditure Unrestricted fmnds General fund 4,246,825 17.106,772 (13,033,108} 8,320,489 Restricted funds Bursary Fund Fi'eyberg Bequest Hiorns Pi'ize Fund Donations 36,025 4,175 327 250 {2,303) 33,722 4,175 327 250 40,777 (2,303) 38,474 Endoivment fvnds Foundees Capital Fiind Freyberg Bequest Hioms Priz¢ Fund 157.392 7,083 4,259 157,392 7,083 4.259 168,734 168,734 £4,246,825 £17,316,283 £(13,035,411) £8,527.697 2024 At 0110912023 Income At 3110812024 Expenditure Unrestricted funds General fund 4,151,912 9,567,501 (9,472,588) 4,246,825 £4,151,912 £9.567,501 £(9,472,588) £4,246,825 The GenerAI Fund repi'esents the unresli'icted fund8 wl)ich the Governors air free lo use in accoi'danee willi the charitable objects. Founder's Capital Fund This comprises the ¢ost as at l J&niiary 1966 of the fi'eehold property and the fixtures and fittings donated to the Company by Miss Mai'joi'ie Hioms, the founder of St Hilaiy's School, together with the net value of the residue of hei. estate bequeathed to tl)e charity in 1995. Freyberg Bequest Loi'd Firyberg bequeathed ceitain listed inveslinenls to the School to be used to generate incom¢ for the beiiefil of the S¢liool as a whole, bul wl)i¢h should b¢ used foi. items outsid¢ of the Lisual course of school expenditures nortnally budgeted for. Hiorns Prize Fund Under the terms of Miss Hioim's Will, a bequest was made to create a fund lo be invested so as to produce income that will meet the ¢ost of providing certain specific pi'izes.
Page 25 St. Edmund's School Trust Limited Notes Formin Part ofThe Finaneial Statements Foi. The Year Ended 31st Au ust 2025 13. Net A35ets By Fund 2025 Endowment Unrestricted Restricted Total Tangible fixed ass¢ts Cui'renl assets Ciii'rent liabilities Long-temi liabilities 14,960,744 2,420,260 {3,072,577) (5,987,938) 157,392 11.342 15,118,136 2,470,076 (3,072,577) (5,987,938) 38,474 £8.320.489 £38,474 £168,734 £8,527,697 2024 Endoivment Unre5ti'i¢ted Resti'icted Total Tangible fixed assets Curi'¢nt assets Curi'ent liabilities Long-teiTh liabilities 11,169,347 2,820,423 (3,229,939) (6,513,006) 11.169,347 2,820,423 (3,229,939) (6.513,006) £4,246,825 £4,246,825 14. RELATED PARTY TRANSACTIONS During th¢ year no Govei'nors received any remuneration or benefits in kind (2024.. £Nil). Two spouses of key managetnent personnel and five family tnembers on fiill time or part time bases received salaries 8nd pensions contributions during th¢ year along with associated social secui'ity costs totalling £164,446.
Page 26 St. Edmund's School Trust Limited Notes Formin Part Of The Finaneial Statements Foi. The Year End¢d 31st All st 2025 15. Teachers, Pension Scheme Financial Note The school participates in the Teachers. Pension Scheme ("the TPS") for it teaching staff. The pension cliarge for the yeai. includes coi)Ii'ibulions payabl¢ to the TPS of £783,284 (2024.. £690,930) and at the year-end £87,473 (2024: £84,423) was accrued in I'esp¢¢l of ¢oi)tributions to thi5 scheine. The TPS is an unfunded multi-employer defined benefits pension scheme governed by T])e Tea¢li¢r's Pensions Regulations 2010 (as amended) and The Teachers, Pension Scheme Regulations 2014 (as amended). Membei's ¢ontribute on a 'pay as you go, basis witli contributions fi'om members and the employer being credited lo the Exchequer. Retiretneiit and other pension benefits ar¢ paid by public funds provided by Pai'liament. The employer contribution rate is set by th¢ Secretaiy of State following scheme valuations undeitaken by the Government Acluaiy's Depai'lment. The most recent a¢luarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional a55Cts of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn. The einployer contribution I'at¢ for the TPS is 28.6/0, and employers al'e also required to pay a scl)eme administration levy of 0.080/0 giving a total employer contribulion rate of 28.684/0. 16. Glft On Charlty Combination On 29th Novembei. 2024, the School completed a Inei'ger with St Hilary's School in Godalming whei'eby the tde and assets of that School were trnnsferred io St Edinund's School Trust. The fair value of the net assets acquired is as follows.. 2025 Tangible assets Dcbtoi's Cash at Bank Creditors 4.434,207 133,059 330,359 (1.580,821) £3,316,804 Represented by.. Unrestricted Fiinds Restricted Fuiids Ei)dowmenl Funds 3,107,293 40,777 168,734 £3.316,804