Company No; 01535096 Charity Number: 281680 FAIRLEY HOUSE SCHOOL (A Company Limited By Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 FAIRLEY HOUSE SCHOOL CONTENTS PAGE FOR THE YEAR ENDED 31 AUGUST 2025 Page Information Page Governors Report. Sti-ategic Report & sta￿rnent of Governors, Responsibilities 2- 13 Report of the Audicor 14- 17 Sratrment of Financial Activlties 18 Balan¢e Sheer 19 Cashflow Statement 20 Note5 to the Financial Statements FAIRLEY HOUSE SCHOOL INFORMATION PAGE FOR THE YEAR ENDED 31 AUGUST 2025 BOARD OF DIRECTORS AND GOVERNORS: Paul Barnaby (Acting Chair)¥ CA Lawrence Dore (resigned 14 July 2025) Sarah Hamilton-Faii-ley Alexandra Gamon (appointed 07 February 2025) Fiona Dixon Jolyon Luke Rebecca Shalom Tina Tie4en (Chairl (resigned 05 May 2025) Ali Azam Emily McGhee (appointtd 02 July 20251 .Member ofthe Finonce Committee dt 31 August 2025 KEY MANAGEMENT PERSONNEL: Michael Taylor, Head {to May 2025) Heather Smith. Senior School Acting Head (from May 2025) Alex Benkreira, Junior School Acting Head (from May 2025) lane Graham, Bursar COMPANY SECRETARY & BURSAR: lane Graham CVO, Bsc (Honsl. PG Cert. FCA HEAD MASTER: Michael Taylor B,A. (Hon5), PGCE, FRGS REGISTERED OFFICE: 30 Causton Sii'ee¢ London SW I P 4AU WEBSITE: www.fairle IIou5e.or REGISTERED NUMBER: 01535096 CHARITY NUMBER: 281680 PROFESSIONAL ADVISERS: BANKERS SOLICITORS AUDITORS Barclays 8ank PIC Fleet Street Business Cencre 81 Fleet Street London EC4Y I EL Veale Wasbrough Vizards Nari'ow Quay House Narrow Quay Bristol BS14QA George Hay & Company 83 Cambridge Street Pimlico London SWIV 4PS FAIRLEY HOUSE SCHOOL GOVERNORS REPORT FOR THE YEAR ENDED 31 AUGUST 2025 INTRODUCTION The 2024-25 year at Falrley House was mixed bu¢ Started and ended on a high. The year began with flnalising the pyrchase of a 200-yeai' lease on 202 Lambeth Road, a beautiful building less than 5 minutes, walk fi'om our Junior School on Lambeth Road and backing on to Archbishop's Park. This ptjrchase in October 2024, secures our future, creating a pei'manenr Lambeth campu5 for Ehe school and cer(ain¢y of locatlon for parents, pupils and sraff, A huge thanks to all the parents who lobbied for u5 behind the scene5. While the property has previously been used as a school, it requires a complete refurbishment before our Senior School can occupy it. With current refurbishment estimates at around £5 million. we have sei up a fundraising committee and have engaged Kate Gray to work with us on raising the necessary funds to Support the building's refir, Our pupil numbers at the end of the year were 226, a significant increase from the 5tait of the year, The cos¢ base for 2024-25 increased due to the impact of salary inflation, incre35ed tosts from the new building and professional fee5. In February 2025, the school was visited by the Independent Schools Inspeccorate (ISI) for a routlne Inspection. The report identified many positive aspect5 of Fairley House and also highlighted a numbei. of improvements that needed co be made in regard to leadei-ship, management and governance and safeguarding. We welton)e the report's findings in how we develop "a culture thac supports the academic and personal development of pupils so that they can gain the qualifications, confidence and personal skills to pi'oceed successfully co furcher education and beyond" In particulai., the inspecrion found that our transdisciplinary approach. where SENCOS, therapists and teachers work together, 15 a "significant strength, leading co pupils throu8hout the school making good progress from their starting points" I'esulting in "a positive impact on the learnlng outcomes of pupils throughout the sch¢)ol and across all subjects" With the school's work in planning and adapting the curriculum. setting and implementing IEPS and EHC plans and putting in place appropriate acces5 arrangements, this 'careful individual planning enables each pupil to follow an appropriate course thac provides them with the qu2lification5 they need to pi'oceed successfully to further education". This results in "fftosr pupils attaining GCSE grade5 at oi. above their 5tandardised predicced grades" Thei'e was aclcnowledgement of the high prioricy placed on the emotional well-being and merital health of pupils thi'oughout the school and that our 'comprehensive and integrated 2pproach to well-being suppotts pupils in feeling secure and confident" Whilsc there is much we are proud of. we recognised the need to impi'ove in certain areas. The report found that additional appraisal and tralning was needed so leaders and governoi's could fully develop 'the knowledge and skills required to ensui'e that all of the standard5 are met consistentSy" It Stated that. although there is a commitment to saleguarding, the monitoring wa5 'llOt sufficiently rigorous" and that safeguarding risk assessments were not in place, which we have now addressed by consistently documenting the risk assessments we carry out. The report also identified that more effective partnerships 2nd timely refei'rals Eo key agencies are re9uired. The safety. welfare and well-being of our pupils has always been, and continues to be, a key prlorlty for the school. The Govei'nors and Senior Management Team, Supported by school s￿fI, worked throughout the Sprin8 and Summer tei'ms to address the points raised in the inspection and the pi-ogre5s monitoring inspection in July 2025 found chac the school met all the I'elevant standai-ds. Thi5 included setcing up and training staff to use a secui'e online safeguai-ding 5ysiem to record, monitor and rnanage pupil concerns. staff allegations and anonymous reporting, as well as Introducing a syscem FAIRLEY HOUSE SCHOOL GOVERNORS REPORT FOR THE YEAR ENDED 31 AUGUST 2025 to deal with low-level concerns. We have appointed a new Designated Saleguarding Lead. Shantha Appavoo who has lead responsibility for safeguarding and child protection at the school. We are also working with an external specia115t safeguarding team who will provide ongoing advice and support. During this period Govei'noi's have taken tlme to I'elresh training and I'e-visited I re.enforced policies and interactions with releyant third-party organisations. We are once again thrilled with oui. GCSE results.. these showcase the remarkable achievements of our students and the progress they have made Since joining the school. For many students, what was seen as impossible, has been proved to be possible. 67Yo achieved five GCSES or equivalenc qualifications, and we achieved a 77% pass l-ace ar grades 9-4, with pai'ticularly strong performance5 in English Literature, Fine Ai'c. and Functional Skills. Our overall value-added 5coI-e of 0.7 highlights the p051tive progress our student5 made beyond expected outcomes. Congratulations to our students for their efforts and per5eYerance. and a huge ¢h2nks to all our staff who enabled this to be achieved. We continue to strive for better communication within the school. Our staff surveys, Initiated in 2022- 23 are ongoing, and we have introduced exit interviews to learn how to improve the staff experience at Fairley House. Sadly, our Chaii. of Govei'nors, Tina Tietjen had to step down in May this year due to ill health. We al'e all extremely grateful for the tremendous, hard work she has done for the Fairley House School. She will be greatly missed. In the meantime. I have been appointed as Acting Chair whilst we work on finding a replacement. The Head, Michael Taylor. has been on leave since the end of May 2025, and we can confirm that he had (orm311y left the School in November 2025. We al-e gi-ateful to Michael for his many Lchievements at the School over the years. Our Senior Management Team, as referred to on page l under Kcy Management Personnel, have stepped up admirably to cover his role and also supported by school staff. Alongside my fellow governor5, who are so generous in giving cheir time and expei'tise to Fairley House, I would like to thank the school staff and the Senior Management Tearn for their dedication to the School and its pupils. Their roles are challengin8, and they accomplish this wirh distinction. Paul Barnaby Acting Chair 31Pc)g¢ FAIRLEY HOUSE SCHOOL GOVERNORS REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The dii'ectoi's. who are also rhe school governors 2nd trustees of the charitable company, have pleasure in presenting their report and financial statements for the year ended 31 August 2025, REFERENCE AND ADMINISTRATIVE INFORMATION Fairley House School was founded in 1980. The company, whose registration number is 01535096, is limited by guarantee 2nd is also a registered charity, No. 281680. The governors, all of whom are directors of the company are as statsd on page l. OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES The Objects of che charity are.. to 'advance the education of children with dyslexia andlor dyspraxia andlor specific learning difficultie5,- and to provide facilities foi. research into the causes and problems of and associated with these specific learning difficulties and into methods of diagnosing. assessing and advising on the treatment and education of such ehlldren,. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The Chai'ity is governed by Memorandum and Arcicles of Association dated 15 Detember 1980 as amended on 30 November 1994. 20 March 1996 and 25 lune 2014. Recrultment and Training of governors The Charity's elected governors al-e appointed at Meetings of the Governing 8oard on the basls of nominations received from Various sources. The Board will consider the eligibility of new membei-s having i-e8ards to their personal eompetence, specialist skills and enthusiasm. The current Acting Chair of Governors is Paul Barnaby, who joined the board in June 2012. The Finance Commitcee is chaii'ed by Paul Barnaby. Paul is a Chartei-ed Accountant registered with the Instiiute of Chartered Accountants of Scotland and works in a leadership position in a professional services oi'ganisation. The current composition of the Board meets the ski115 set nÈeded to address the challenges that face the charity in the near future. An experienced charitable trustee at chaii. level. Several governors with educational {including special educational need5} skill5, Several governors with commei'cial and financial Skills. New governors are encouraged to attend external tj-aining course5 to urtderstsnd their role and responsibilitie5 and are inducted into the woi'kings of che charity, including Boai-d Policy and Procedures by meetin8S Wlth the Chair of Governor5, Head and Bursar. Remuneration of key management personnel is set at an individual level by the governors and where POS5ible the goYernoi'5 have taken extei'nal professional advice which includes benchmarking, marke¢ trends 2nd advice on structui-ing incentlves. 41I)IigL FAIRLEY HOUSE SCHOOL GOVERNORS REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Governance The Trustees takes their governance responsibilities seriously. As a charity, we aim to have a governance framework that 15 fic for purpose, tompliant and efficient. The Board has established a solid foundation in governance. All of its tru5*es al'e clear about their roles and legal responsibilities. They are committed to supporting Fairley House to delivei. its objects elfeetiyely for the benefit of its beneficiai'les, and to an agenda of continuous improvement for the school. The Board of Tru5tee5 meets a very slgnifican¢ proportion of che recommended and best practice principles for governance contained within the Chai'ity Governance Code across (he seven areas and are comforcable there are no 5ignifitant areas of reyiew requii'ed. Ari'angements will continue to be monitored against the best practice pi-inciples conrained within rhe Code. Accountability for the ovèrall management and organisation of the school rests Wlth che Governor5, who meet at le25t once eve17 term. They are supPor￿a in carrying out their responsibilities by the Finance Committee which meets at least once every term in advance of the Boai'd of Governors meetings. In addition. the Board delegates various responsibilities to committees which meet a minimum of termly, ahead of Board meetings. The task of runnlng the School on a day-to-day basis is delegated co rhe Head and the Senior Management Team. The Head and Bursar attend all meetings of the full Governing body and may attend committee meerings at rheir discretion or if requested so to do. Decision making is governed by the scheme of delegation, which sets out which decisions are made by the whole governing body. committees or members of the Senior Management Team. The scheme of delegation is reviewed annually. The board works through the committee structure. Below is a report fi'om the Chairs of the six committees of the board on their focus and work In the reporting pei'iod. Finance, Chair Paul Barnaby: In the last year the main priorities of the Finance Committee have been to: Financial resilience: continue to maintain the flnancial stability of the school in the face of considerable macroeconomic challenges,. New property.. support efforts to pui'chase the new property acquired by facilitating and securing additional funding,, and Cost m3nagemenL ensure best value from all con¢i-acts and expenditure 51Page FAIRLEY HOUSE SCHOOL GOVERNORS REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Educatlon, Chair Alexandra Gamon: Csjrriculum.. continued the development of statutory career5 a¢fvice in light ofGatsby benchmarks to include greater contact with school alumni. Considered the implications of expanding to Sixch Form should increased space become available, in terms of leadership, curriculum design and staffing requirements. Inspection readiness: inspection training on new framework undertaken. Myconcern introduced for more effectlye tracking of pastoral issues, Pupil Yoice elevated. Outreach: continued the development of a robust pi'ogramme to meet the needs of charitable status in a hostile envlronment towards independent schoo15 and the burgeoning financial turmoil in the bi'oadei- SEND sector. People, Chalr Rebecca Shalorn: The People Committee has continued its focus on making Fairley House School a place where staff enjoy working and feel they can contribute and perform at their best. In particular this year we pi'ioritised the following.. RecrLFitment.' Re-enei'gised drive to fill key Skill gaps and vacancies. Staff engagement and developmenL Continued focLts on staff development and training. Continued with the Pulse survey to give stafi an ongoing oppoi'tunity 10 provide feedback 2nd raise issues. Staff engagement and development., Worked to implement a new HR and Payroll system to give staff access to their daca and provide Staff development tools. Pay and benefit5.' Benchmarking and review of benefits. The Board made the decision ro conduct a Pay Review in the 2025126 academic year. Safeguarding• Acting Chair Sarah Hamilton-Fairley: A geparate Safeguarding Committee w25 set up in June 2025 and has continued ro IocL6S on: S2feguarding.' continue to monitoi. and review any safeguarding issues, alongside monitoring any situations outside school which might have an impaci on the school's record and repiJtLtion in this area. Health and Safetyi Chair Fiona Dixon: The Health & Safery Committee was separated from the safeguarding Committee in June 2025 and has continued its focus on making Fairley House School a safe envii-onment for both pupils and staff. Health.. alongside our excernal consultants, Work Nest who act as our responsible officer, ensure all measures are in place to pi-otect all stakeholders. Safety., eonrinue with careful monitoring and actions against potential risks in both properties. A pi-oactive approach to fixing problem5 as they arise. 61PrALse FAIRLEY HOUSE SCHOOL GOVERNORS REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Business Development and Marl of which the charitable company's auditor is unaware. Each member of the Governing Body has taken all the s£eps that he or she should have taken a5 a member of the Governing Body in order to make himself or herself awai-e of the relevant audit information and to establish that the charitable company's auditoi. is aware of that information. 121P£1ge. FAIRLEY HOUSE SCHOOL GOVERNORS REPORT FOR THE YEAR ENDED 31 AUGUST 2025 AUDITORS George Hay & Company have expressed theii. willingness to continue iri office as auditors and a resolution proposlng their reappointmenc will be submitted to the forthcoming Annual General Meeting. Thls Annual Report. prepared under the Chai'ities Act 2011 and the Companie5 Act 2006, was approved by the Boai'd of Governors on 9 March 2026, including in their capacity a5 company governor's approving the Sti'ategic Report contained thei-ein, and is signed as authorised on its behalf by: Approved by the Board of Governors on 9 March 2026 and signed on its behall by.. Paul Barnaby 131 PciLie FAIRLEY HOUSE SCHOOL INDEPENDENT AUDITOR'S REPORTTO MEMBERS OF FAIRLEY HOUSE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025 Opinion We have audited the financial statements of Fairley House School (the 'charitable company'l for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Shee( the Cash Flow Statement and nore5 ro the financial statemenES, including a Summary of significant acceuniing policies. The financial reporting framework that has been applied in their preparation is applicable law and Unlted Kingdom Accounting Standards, including Financial Reporring Standard 102 The Finonciol Reporting Standard applicoble in the UK ond Republic of Irelond {United Kin8dom Generally Accepted Accounting Prac¢icel. In our opinion, the financial statements: give a true and fair View of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, Including its Income and expenditure, for che year then ended., have been propei-ly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in actordance with the requlrements of the Companies Acr 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS {UKII aT)d applicable law. Our responsibilities undei. those srandards are further described in che Auditoi s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the echical requirements chat are relevant to oui- audii of the financial statements in the UK. including the FRC'S Echical Srandai-d, and we have fulfilled our other ethical responsibilities in accordance with these requiremerits. We believe that the audit evidence we have obtained is sulficienc and appropriate to provide a basls for our oplnion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accouncing in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertaintles relating to events or condition5 chat, individually or collectively, may c2St signific2nt doubt on the entity's ability to continue as a going concern foi. a period of at least twelve months from when the financial statements are authorised for issue, Our responsibilities and the responsibilities of the truscees with respect (o going concei-n al-e desci-ibed in the relevant sections of this report. 141Pc1LSe FAIRLEY HOUSE SCHOOL INDEPENDENT AUDITOR'S REPORT TO MEMBERS OF FAIRLEY HOUSE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025 Other informatlon The other information comprise5 the infoi'macion included In the annual report other than the financial statements and our auditor 5 I-eport thei-eon. The trustees are responsible for the other infoi'matiot) contaFned within the annual I'eporc. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in oui. report, we do not express any form of assurance conclusion thereon. Our responsibility is to l-ead 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 coui'se of the audit 01- otherwise appears to be materially mis5tatrd. If we idencify such material inconsistencies or apparent matei-ial misstatements. we are re9uired to determine whether this gives rise to a material misstacement in the financial statements themselves. If. based on the work we have performed, we contlude that there is a material mi5Statement of this other information. we are required to report that fact. We have nothing to report in ¢his regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infoi-mation given in the trustees, report. which includes the directors, report (and the strategic report) prepared for company law purposes. for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the scrategic report and the direcioi-s, repor¢ included within the trustees, i-eport has been prepared in accordance with applicable legal requiremen(s. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitsble company and its environment obtained in the course of the audit, we have not identified material mis5¢arements in the trustees, report (including the strategic reporil. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requii-es us to report to you if, in oui. opinion: adequate accounting records haye not been kept, or returns adequate for our audit have not been received from branchel not visited by us: or the financial statemencs are not in agreement with the accounting records and retui'ns.. oi. certain disclosures of ti'ustees, I'emuneration specified by law al'e not made.. or we have not received all the information and explanation5 we require foi. our audit. 151Pr?Lfe FAIRLEY HOUSE SCHOOL INDEPENDENT AUDITOR'S REPORT TO MEMBERS OF FAIRLEY HOUSE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025 Responsibilities of tru5tee5 As explained more fully in the trustees, re5pon5ibilities Statement the trustee5 (who are a150 the directors of the charitable company for the pui'poses of company law) are responsible for the preparation of the financial statements and for being satisfied rh3t they give a true and fail. view, and lor such internal control as the trustees determine is netessary to enable the preparation of financial Statements that are free from material misstatement. whether due to fraud or error. In preparing the fin2nci21 Statements, the trustres are responsible for assessing the charitable company's ability to continue as a golng concern, disclosing, as applicable, mat(ers related to going concern and using the going concern basis of accounting unless the ti'ustees either intend ro liquidate the charitable company oi. to cease operations, or have no reallstic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from matei'ial misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assui'ance is a high level of assurance but 15 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 eri-or and are consi(lei'ed material if, individually or in the aggregate. they could reasonably be expected to influence the economic deci5ion5 of users taken on the basis of these financial stacements. Irregularitles, including fraud, are in5t2nces of non-compliance with laws and regulations. We design procedure5 in lifte with our responsibilities, outlined above, to de￿ct material misstacements in respect of irregulai-itie5. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detsiled below.. Based on our understanding of the charitable company's operations, we identified thac the principal rlsks of non-compliance wirh laws and I'egulations relates co an adverse report from the Independent Schools Inspectorate. We consldered the extent to which non.compliance might haye a material elfect on the financial statements that results in the situation where no further teaching can be provided. We a150 considered the relevant laws and regulations that have a direct impact on the preparation of the financial statements such as taxation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statement5, {including the risk of override of controls) and determined there were no principal risks directly impacting the chai-itable company's incoming resoui'ces and management bias in accounting estimates. 161Page FAIRLEY HOUSE SCHOOL INDEPENDENT AUDITOR'S REPORT TO MEMBERS OF FAIRLEY HOUSE SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025 Audit procedures performed by the engagèmertt ¢eam included.. Discussions w*th management including consideration of known or suspected instance5 of non. compliance with laws and re￿I￿tIon 2nd fraud., Evaluatlng management's tontrols designed to prevent and detect irre8ularities,' Identifying and testing transactions and balance5. including journals. in particular journal entries posted with unusual accoun¢ £ombTnation5 or with unusual de5criptions,' and Challenging assumptlons and ludgemen¢5 made by management in their critical accounting estimates. A further description of our responsibFlities for the audit of the financial statemen¢s is loca*d on the Financial Reporting Council's website at.. es. This description forms part of our auditor's report. Use of our report This report is made 501ely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 01 the Companies Act 2006. Our audit work has been vndertaken so that we might state to the charltable company s members those matters we are required to state ¢0 them sn an audltor's réport and for no other purpose. To the fullest extent permltted by law. we do not tctèpt or assumè rèsptsnsiblllry to anyone oth¥ than the charitablè con)pany and thè charitable company s members as a body. for our audi¢ work. for this reporL or for the opinions we h4Y¢ formÈd.J Marino Achilleos FCCA Senior Statutory Auditor For and on behalf of George Hay & Company. Statutory Auditors. 83 Cimbrldgè Stree( Pimllco, London, SWIV 4PS. Date 9 March 2026 171Page FAIRLEY HOUSE SCHOOL STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted Restricted Funds Funds 2025 Total 2024 Total Notes INCOME FROM Donations 5.334 19.719 25,053 14,546 Charitable Activities Fee5 receivable 8,531,384 8,531,384 7,856,850 Level 5 course fees 52,252 52,252 47,900 Asse55ment clinic fee5 79,860 79,860 98,450 Investments Bank interest 45.694 45,694 165,495 Other incomlng resources 23.141 23,141 11,088 Total Incoming Re50uvces 8,737.665 19,719 8,757,384 8.194,329 EXPENDITURE ON Raising Funds Other income generating activities 1.729 1,729 2,356 Charitable Expendlture School operatlng cosrs 8,748,683 8,748,683 7,872,496 Level 5 operating costs 49,185 49,18S 49,617 Assessment clinic operating costs 114,870 114,870 112,460 Total Resources Expended 8,912,738 1,729 8,914,467 8,036,929 Net (Expense) I Income for the Year Transfer between funds 1175,0731 17,990 (157,083) 157,400 12,900 (12,900) Fund Balances ac I September 2024 FUND BALANCES AT 31 August 2025 7,948,486 117,970 8,066,456 7,909,056 12 7,786,313 123,060 7,909,373 8,066.456 The notes on pages 20 to 32 form part of these financial statements 181Pago. FAIRLEY HOUSE SCHOOL BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2025 Notes 2025 2024 FIXED ASSETS Tangible fixed assets 10,671,869 4,786,953 CURRENT ASSETS Debtors 3,680,744 2,650,842 1,666,369 4,429,425 5,347,113 7,080,267 Cash at bank and in hand Total Current Assets CURRENT LIABILITIES Creditors.. Amounts lalling due within one year (4,218,373) (3,794,297) NET CURRENT ASSETS 1,128,740 3,285,970 TOTAL ASSETS LESS CURRENT LIABILITIES 11,800,609 8,072,923 CREDITORS: amounts falling due after more than one year <3,891,236) (6,467) TOTAL NET ASSETS 7,909,373 8.066,456 FUNDS Uni'estricced funds 1,090,616 2.304,881 Designated property fLFnd 938.121 Fixed asset fund 6,695,697 4,705.484 Restricted fund 123,060 117,970 FUNDS 7,909,373 8,066,456 The financial statements for Fairley House School, company number 01535096 wei'e approved and authorised for issue by the Board of GoYert)01-s on and signed on their behalf by. Paul 8aYnaby Date: g Htuth 1016 Chalr of Finance Committee The notes on pages 20 to 32 form part of these financial statements FAIRLEY HOUSE SCHOOL CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025 Note 202S 2024 CASHFLQWS FROM OPERATING ACTIVITIES Net cash provided by operating activities (207,424) (341,3331 Cash flows from investing activitie5 Interest i-eceived Purchase of propertyi plant and equipment Net cash used in investing activities 45,694 165,495 {6,238,602) 1199,338) {6,192,908) (33.843) Cash flow5 from financing activities Moi-tgage Finance costs Repayments of borrowing Net cash used in financing activities 4,000,000 (257,429) {3,161) (105,295) (73.3481 3.637,276 (76.509) Changes in cash and cash equlvalents In the reporting period Cash and cash equlvalents at the beginning of the reporting period Cash and cash equlvalents at the end of the reporting period {2,763,056) (451.685) 4,429,425 4.881,11 o 1,666,369 4.429.425 NOTES TO THE CASHFLOW STATEMENT 2025 2024 Note A Reconciliation of cash from operating actlvltles Net incoming Adjustment5 for Depreciation charges (Increa5e} I decrease in debror5 Increase in creditors (157,083) 157.400 353,686 329,473 (1,029,903) (863,107) 414,141 197.235 257,429 3,161 (45,694) (165,495) (207,424) {341,333) Bank interest paid Bank interest I'eceived Net cash provided by operating activitie$ Note B Analysis of cash and cash equivalents Cash 3¢ bank and in hand 1,666,369 4,429,425 1,666,369 4,429,425 Total cash and cash equlvalents FAIRLEY HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES Company information The charitable company. which is a public benefit entity, 15 2 private limited company by guarantee, Incorporated in the UK Iregisiei-ed number 01535096> and operates from its registered office 30 Causton Street, London. SW I P 4AU. Basis of accounting The financial statsments have been prepared in accordance with the Financial Reporting Srandard applicable in the UK and Republic of Ii-eland (FRS102), the Companies Ac¢ 2006 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in ¢he UK and Republic of Ireland (FRS 102) effec(ive l January 2019, These financial statement5 are drawn up on the historical cos¢ basis of accounting. The financial statement5 have therefoi'e been prepared on a going-concern basis a5 discussed within the Governors, Report in the Staiemeni of Governors, Accounting and Fieportins Responsibilities on page I l. b) Fees and simllar earned income Fees receivable are accounted for in the pei-iod in which the service is provided. Interest receivable is accounted for in the pei'iod to which it relates. Donations are accounted for when there is reasonable cercain¢y ol receipt. Expenditure Resources expended are accounted foi. on an accruals basis. Expenditure is directly allocated to cost categoi-ies based on the activity in the year, The irrecoverable element of VAT is included with the item of expense to which it relates. d) Tangible fixed assets Fixed Assets al'e initially recorded at cost. Depreciation is provided at the following annual rates in ordei. to write ￿ch asset down to their residual value over its estlmated useful life.. Depreciable Freehold Property Long-leasehold land and buildings Long-leasehold improvements Furniture. fittings and other equipment Computers and technological equipment Land straight line over 20 years straight linè over 40 years oi. to the length of the lease straight line over l O years straight line over either 5 or l O years straight line over 3 years is not depreciated The above rates of depreciation are applied to asset5 Costing more than £500 singularly or collective assets costing more than £2,000 where individual a55ets may be less than £500. Any assets costing less than these amounts are fully depi'eciated in the year of acquisition. No depreciation 15 provided on assets acquired prior to the Balance Sheet date bui ftoi bi'oughc into use until aftei- the year-end. Any potential impairmènc of fixed assets is reviewed on an annual basis. To date. no adjustmenc for impairment has been considered necessary. 21 | PcQLY(; FAIRLEY HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 e) Operating leases Rentals under operating lease5 are charged on a stralght-line basis over the lease rerm. even if the payments are not made on such a basi5. Benefits receiyed and receivable as an incentive 10 sign an operating lease are similarly spread on a strai8ht.line basis over the lease term. Pension schemes The Charity contributes to the Teachers, Pension Defined Benefit5 Scheme at rates set by the Scheme Actuary and advised to the Board by the Scheme Adminisiratoi.. The scheme is a multi- employer pension scheme and it is noc possible to identify the assets and liabilitie5 of the scheme which al-e attributable to the School. In accordance with the Financial Repoi-ting Standard applicable in the UK and Republic of Ii-eland (FRS 102) thei'efore. the scheme is accounted for as a defined contribution scheme. The Charity also contributes to an indlvidual personal pension scheme with Standard Life for other staff not within the teacher's pension scheme. Funds The general fund comprises the accumulated surpluses of unrestricted incoming resources over resources expended. which are available for use in furtherance of the general objectives of the chariry. Restricted lunds are funds subject to specifie conditions imposed by donors. The purpose and use of the I'estricted funds are set out in note I I ro rhe financial Statements. Amounts unspent at the year-end are cari'ied forward in the balance sheet. h) Flnanclal Instruments Basic financial instruments are initially recognised at tran5acrion value and 5ub5equently measured at amortised c05t, with the exception of investments which are held at fail- value. Financial assets held ac amortised cost comprise cash at bank and in hand, rogether wich rrade and other debtors. A specific provision is made for debts for which recoverabilicy is in doubt. Cash at bank and in hand is defined as all cash held in insrant access bank accounts and used as working capital, Financial liabilities held at amoi-tised c05t comprise all ci-ÈditOl-5 except social security and other taxes and provisions. Debtors Trade and other debtors are i-ecognised at the settlement amount due after any trade discounc offered. Prepayments are valued at the amount prepaid net of any trade discounrs due. Creditors Ci-editors al-e recognlsed whei'e the school has a presenc obligation resulting from a pasr event that will pi'obably resul¢ in ¢he ti-ansfer of funds to a thii'd pai'cy and the amount due to settle the obligation can be measured or escimated reliably. Credirors are normally I'ecognised at their settlement amount aftei. allowing for any trade discounts. k) Government grants Any government grants received will be i-ecogni5ed upon i-eceipt. FAIRLEY HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 INCOME FROM DONATIONS Unrestritted Restricted Total Totul Funds Funds Funds 2025 Funds 2025 2025 2024 Donations 5,334 19,719 25,053 14.546 ,334 19,719 25,053 14,546 Total 2024 2,887 11,659 14,546 CHARITABLE ACTIVITIES FEES RECEIVABLE 2025 2024 Fees receivable consists ol.. Gross School fees 8,531,384 7.856,850 8,531,384 7,856,850 Add.. fees paid for by restricted funds 12,900 8,544,284 7.856,850 STAFF COSTS 2025 2024 Teaching and support staff Administrative stalf 71 14 87 82 231P¢4g(.: FAIRLEY HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 STAFF COSTS (cont> The costs incurred in respect of these employees were: Wages and salaries Social security coscs Pension costs defined benefit Pension costs defined contribution 4,886,259 568.130 453,828 480,730 4,807,126 494,921 393,327 429.320 6,388.947 6,124,694 No governor. nor any person connected co them, received any income from the charitable Company. One governor had expenses reimbursed to them of £1.87512024: nil). During the year the number of employees whose total taxable emoluments exceeded £60,000 are illustrated as follows: 2025 2024 Between £60,000 and £70,000 Between £70,00 l and £80,000 Between £80,00 l and £90,000 Between £90,00 l and £100,000 Between £ 100,00 l and £ I l 0,000 Between £ I I 0,00 l and £120,000 Between £120.00 l and £130,000 Between £130,00 l and £140,000 Between £140,00 l and 1150,000 Between £150,00 l and £160,000 Eleven of the employees above al'e membei'5 of a defined benefit pension scheme and the school made contributions of £246.249 {2024.. £179,919 foi- 8 members) The key management personnel of the school al'e defined on page l. The total employee benefits of this group was £378,568 12024.. £356,301). Termination payments of £nil were made in 2025 {2024- £66,786), and no amounts were outstanding ai the year end. 241Pclge FAIRLEY HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 S. ANALYSIS OF EXPENDITURE Summary by Fund Type Unrestricted Restricted Total Total Funds Funds Funds FiJnd5 2025 2025 2025 2024 Cost of raising fund5 Cost of other activities 1.729 1,729 2,356 Operatln8 Cost5: School Teaching costs Premise5 5.919,348 886.129 5,919,348 886,129 213,242 1,704,461 25,503 8,750,412 49,185 114,B70 5,757.237 801.129 Wellare 213,242 1,704,461 220.932 Suppoit costs Governance c95ts 1,073.053 20.145 25.503 8.748,683 1,729 7.874.852 Level 5 49,185 114.870 49,617 112.460 A55e55mtnt ¢llnl¢ Total re50urc95 expended 8.912,738 1,729 8,914,467 8,036.929 Total 2024 8,034,573 2,356 8,036,929 251 PCILJ?. FAIRLEY HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 5. ANALYSIS OF EXPENDITURE (Cont) Summary by Expenditure Type reciation 2024 cos ot Cost of raising funds Cost of other activities ,729 1,729 2,356 Operating Cost%. School Teaching costs Premises Welfare Support costs Governance costs 5,353,461 501.067 597.263 213.242 942.832 761,629 25,503 6,296.293 2,100,433 64,820 5,919,348 5,757,237 288,866 886.129 801 129 213,242 220,932 1,704,461 1,073,053 25,503 20,145 353,686 8,750,412 7,874,852 49,IBS 49,617 Level S 47.791 1,394 Assessment clinic 44,863 70.007 114.870 112,460 Total resources expended 6,388.947 2,171,834 353,686 8,914,467 8,036,929 AUDITORS REMUNERATION 2025 2024 Fees payable to the Charity's auditors for the audit of the Charity's financial %cacements 17,763 15,225 17,763 15,225 2611) Balance at I September 2023 Incoming Resources Re50urce5 Expended Transfer Balance at Be¢ween 31 August Funds 2024 Restricted Funds PTA fund Bursai'y fund 30,766 77,901 9.299 2,360 (2.356} 37,709 80,261 Designated Funds Fixed asset fund Property fund 4,762,268 938,121 156,784) 4,705,484 938,121 General Fund 2,100,000 8,182,670 (8,034,573) 56,784 2,304,881 7,909,056 8,194,329 {8,036,9291 8,066,456 Restri PT This fund represents donations given to the school by parents through the oi%anisation 2nd woi'k of the School's Parent Teachers Association (PTA). The balance of funds has been desisnated by the PTA to use for improving catei'ing facilities within the school. Hardshi Fund The Hardship funds have been designated by the Governors to assist children who are already pupils ar che school and whose parents. circumstance5 change such that their pai'ents have financial difficulties. Des5 nated Fu ixed Asset Fund This fund represents ¢he amount of genei-al funds invested by the school in its tangible fixed assets aftei. deducting loans secured or) the pi-operties. Pro ert Fund This fund has been introduced by the Governors to separ'ately disclose Che allocared and available funds r-equired towai-ds the pi'oposed acqui%ition of a new school building including the provision of associated propercy i-elated costs. The Governors will review the charily's general ftjnd ai the end of each financial year and assess whether an appi'opriate and practical amount can be transferred. Any decision taken will also be in accordance with the chai'ity's reserves policy. as detalled within the Governors, repor¢. ranslers The iransfer between the general fund and the fixed asset fund repi-esent5 the movemenc on the fixed assets. The transfer between general fund and the YfA repre5ent5 the playground equipment spend. FAIRLEY HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restricted Funds Total 2025 Tangible fixed assets Net current assets 10,671,869 10,671,869 1,128,740 108,667 11,800,609 1,020,073 108,667 Tocal assets le55 current liabilities 11,691,942 Creditors: amounts lallin8 due after one year (3.891,2361 (3,891,236) Total net asset5 7,800,706 108,667 7.909.373 Unrescricted Funds Restricted Funds Total 2024 Tangible fixed assets Net curi-ent assets 4,786,953 4,786,953 108,667 3,285,970 3,177,303 Total as5eE5 less current liabilities 7,964.256 108,667 8,072,923 Creditors.. amounts falling dLte after one year (6,467) (6,467) Total net asse¢s 7,957,789 108,667 8,066,456 14. FINANCIAL COMMITMENTS Operatlng leases The company had annual commitments under non-cancellable operating leases as sec out belov. 2025 2024 Land and Buildings Land and Bulldlngs Operating leases thar expire: Wiihin one year In the second to fifth years 172,000 171,000 172,000 344,000 344,000 516.000 3111)1igp. FAIRLEY HOUSE SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. PENSION FUNDS Teachers, Pension Defined Benefits Scheme The School parcic1pa￿5 in the Teachers, Pension Scheme {"the TPS'I foi. its teachlng scaff. The pension charge for the year includes contributions payable to the TPS of £453,828 12024: £393,327) and at the year-end £Nil12024 £Nill was accrued in i-e5pect of contributions to thi5 scheme. The TPS is an unfunded multi-employei. defined benefits pension Scheme governed by The Teachers, Pensions Regulations 2010 {as amended) and The Teachers, Pension Scheme Regulations 2014 (as imendedl. Member5 contribute on a "pay as you go" b2SiS With contributions from members and the employer being credited to the Exehequer. Retirement and other pension benefit5 al-e paid by public funds provided by Parliament. The employer contribution rate is set by the Seci'etaiy of State following scheme valuations undei-taken by the Government Actuary's Department. The most IEcent actuarial valuation of the TPS was prepared as at 31 March 2016 and the valuation report, which was publlshed in Mai'ch 2019, confirmed an employer contribution rate for the TPS of 23.6Y. from I September 2019. Employers are also currently required to Pay a scheme administration levy of 0.08Yo giving a total employer conti'ibution rate of 23.68Y.. Personal Pension Schen)Ès The school algo contribuce5 to a personal pen5i0n scheme for its non-teaching staff. The school's, staging date foi- auto enrolment was July 2014. All staff who do no¢ contribute io the Teachei-s, Pension schemè are currently members of the Standard Life scheme. The cost for the year of £480,779 {2024.. £427,350) represents the sehool's contributions to this scheme of 14.1 Y. for Administration and Suppor¢ staff and 18.OY. for Teaching 5talf. 16. RELATED PARTY TRANSACTIONS There are no I'elated party transactions.