Cornpany fW*AtiOD t￿ber.. 01720539 Chgrity rew5trntion numt¢r.' 287037 Greenfields Educational Trust (A company lim1￿￿ by guarantee) AnTh￿￿ Report and Awdiied Consolida¢ed Financial Statements for the Yeat Ended 31 Awist 2025 Marjninztoths Stalutpry audiloT 39 High Sireet Batdc F.&st Suss¢x TN33 OEE Greenfields Educ#tioDal Trust Contents Reference and Adninistrative D¢tsils Strategit RCT 2to3 T￿￿tte* lieport 4107 Ind¢p¢ud¢nt Audiiory. lieport 8t0 11 Corisolid&t¢d Slatcment ofFinancial Activiiies 12to 13 CotL801ithtcd BAJance Shtet 14 Aalancc Shcel 15 Consolidated Statemertl of Cayh Flows 16 Stat¢mtnt of Cath Flows 17 Notes to the fpinatLtial &Jtem¢nts 18to40 Gre¢nfield5 EducalioDal Trust Ref¢r¢nce and Admimislrative Detai18 Cbalrm• P Hodkin Trw5t¢u P Hodkin SLRu5h A C Ca]cioli Setretary V Tupholme CtsoTLty m￿151r11*0D Number 287037 Cojllpauy Regtstrgtion N￿rtsber 01720S39 Country of Illt&rpor*lloD England and W&es Regijtettd Offiet Gr¢¢nfields School Priory Road Forest Row E&8t Susscx RH18 5JD Auditor Mannit)Elons Staiulory auditor 39 Hi&h Strccl Ballle East Suss Tr133 OEE Solltltor5 Hodkin & Cotnpany 42-44 CopthornE Koad Felbridge East Grinthad West Su55¢X RH19 2NS HSBC Bank plc 56-58 Londotb Road Easl Crin51ead West Sussex RH19 18J Page I GrceDfi¢ld5 EducationAI Trust Strategic R¢poTt for the Ye#r Ended 31 Aueust 2025 The ¢n￿lee¥, who arc director5 for the puJyoKs of cotwy law, preseni their stratt8ic r¢port for thc year end￿ 31 Attg￿t 2025. in complian¢¢ with 5414C. of the Companirs Act 2006. Aebltvtm¢ll¢$ ¥•d Perfor￿an￿e Tht a¢ad?mie y¢ar of 2024 10 2025, began with ¢4)nsiderable finan¢ial pressures and the forthcoming imp)3ltion or VAT on sthool fees and removal of charity rtlicf on property rJt¢$ ij) Janu8ry 2025. Both issues e5seniially exicerbat¢d the s¢hwl's finBncial defi¢iE al that titne. Howeytt, the fjnancial problems in the school continued io be addressed by the in vBrious wwys.. exPEr￿S were cui b￿k alld Ibete wer¢ sO￿t slatT￿u￿danc￿es mad¢, and some 25scts w¢re sold. ChlldreJ$ Hou5t Tr4urstry 'I"bc long-teth eife¢ts of the k￿k of trwnBd Siaff for eJllpltsym￿( continued to impiDge etwojmcnts and r￿ancIally¥ the nutsw conlinued to run at a10$5. li w&$ decid￿ thai ihe nurs￿ would have to close ai the end of the previous fiwcial yearto 3151 Augu812024. Tbe KffECtlv¢ Educ•ltoD Centre: Th¢ Effetuve Edu¢aiion CeJJir¢ a Boing concern I￿0 conlinued to (klivel private tlttoring and ch￿ilable s¢rviGes as always. Tr M￿ager ofthe fIn￿lY Bnnouttccd her IEliremeni another su￿eSSful tutoriThg organisation took up the premis¢s and the seNieing of the exi%tin8 clientel¢ itt D¢￿rnber 2024. The prtmi5es th¢5e adiviiies op¢r4tcd from ITJ Easl thin#¢ad wert the a55¢ts realised in fiDanciaJ ytar lo 31st AUg￿$t 2023. FiDaotlAI revi P•llcy 47M rescnes Free resErvt$ fimds wIM¢h gy¢ not restricted or repres¢ni¢d by fjxed assets or desi8tt*ed by the Trust for 8 particular purpose. Therc no free thi3 yw but th¢ TTus*¢S intend to build up the reserve as pupil nvmbcrs in¢Teas¢ $0 ￿ to have a rea5isii¢ levcl olreverses for th¢ luture. We operating 6tthe on having reserves te Covcr any c4piial eXPCTL8e5 that may arise from lime to tiffle. Inv¢sthJentptsll¢y ondoljjecttves Under the m¢moTandum and article$ of 838ocialion thc chartty the power lo invest in ally way the itiJslee5 with. The truste¢4 h4vin8 reggsd to th¢ li4uidity reqU￿eMents of the chaTity'3 OP¢rntions sjid io reserves pobcy, have operated apolicy olkeeping available fund$ in interest bearing d¢pusil accouiits. Pl*u$ for future ptri)ds AIMW attdkey obJe¢ifve$lvrfuts¢r¢p¢rto& Pi)silive plans ar¢ in place after reorganiS&1iTrn with studcnl numbeTS tn¢rea8ing and looking at boardtrtg to b¢ staTfrd again. The stratCBLC rcport Wd5 approved by Ik tsusiees, aDd authoristd for i35Ut on 25 Junc 2026 sizn¢d on their b¢haifby'. Fagc 2 Greenfields EducatlDnal Trust Strategic Report for the Year Ended 3L A￿gUSt 2025 P Hodki chaIr￿all PaEt 3 Greenfield$ Educatiollal Tn￿( Tr￿St￿￿' Report The trustees, %vts) are direciors for Ihc purposes ol cofftp4ny law. pre5Bllt the gnnual irport togcther with the rinJnci&l st&iemenls and auditors. reportofth¢ charitable coThp3ny for the year ended 31 Augu512025. Objcttlves aod actiTri¢it$ Otyects Thv objects of the thsrity zre IhE eY￿blishMenty rntinienance and op¢ration of schools and other educational ¢5tsblithents in th¢ Uwted Kingdom a￿1 elsewhere. Itt furlh¢r9n¢È of the T￿￿,$ objeL%ives. the charity QMryJ5 and Op¢ra￿ th¢ Greenfield8 School in Forest Row. Al ilway Approach, Easi Grin*ead th¢ Tru# OP¢Tat¢s the Children's Housc Nur5eryt Ihe free liiwa¢y HEI.P Cen the Effective Educalion Centre and ihe fjTecnfIelds English Language College. Publkb¢neJ71 The scFK)ol ha5 a poli¢y of trying io PTovide for all ryp¢s ofstlldents from all kind5 Of back8tounds r¢gaTdle5$ of t￿, colour. cr¢¢d or ihe inability 10 pay privat¢ fees. 'fo this end the amount of dis¢oLWt5 ailoMEJ in this r￿ancial ye¥tr iotai 14.3Qh12024- 12.25%) ofthe ￿11 gross lees, tn addiÉion ts> frec Iiial days. The trus1¢¢8 co]]fittD thai they have complied with the requiretncnt5 of sc¢lion 17 of the Chariiie5 Act 201 I to have due regard to the public b¢n¢fJt guidance publishe41 by the Charity Commission forErtBlattd and WJles. Goillg ¢ouctrD Th¢ school is experiellcing con5ideTable financial pressure du¢ to the Gurrent enviroJJmem for independent school5, and is having io r￿rgani* realisc assets. As 5UtrJ]n¥Iis￿ above pl￿ b¢in8 worked on to addrtss the effects of ttwe tnatters. and ihe tr￿1 remai￿ agoing concern ay 4 re5uIt. Trustru Ind Offi¢eTS The tr1￿5 and offiKr5 J¥rvin8 durin8 the year and sinc¢ th¢ y¢4rend wcre as foll(bw5.' Tr￿ttts.' P Hodkin J Scarfc E3c¢keu (Resigned 22 Septcmb¢r2024) S T. Ru8h A C Caicioli M McEntyr¢ (Resigned 7 JRTruary 20251 Chainnan: P Hodktj S¢oretary.' V Tupholme Stru¢ture? goverDiThe¢ aBd managernt•t fjreenfiel(l¥ FJlUC&ion￿ Trt￿ is a company limited by guarantee, gov¢m¢d by its memorattclum and Rrti¢l¢s vf a&sociaiion. li is TEglStered ￿ a¢hariEy with the Charity Cornmi5SiOn. Page 4 CTreenfields Educatio￿*1 Trust Trnsttts. Report New Iwsiees are 2ppointed by the ex1￿￿n& tnJsEe¢$. N¢w ItlJSte&s undtryo an ori¢ntation se.E5iQti to brief them on their legal obligations under chhrity and cofftpany law, th¢ content of1￿ memorandum alld artiGles of association, the decision Jn3&illg piuc¢ssvs, the business plarj and rccent firwlcial ￿￿rfOrnianC¢ of the ch8riiy. Th¢y will be giv¢0 a ¢our olth¢ rharity's operational Siles aThd an outiiDe of Ihe work of the various ￿¢tIOnS Araryementsforsethngkey K¢y management reJDunerdtion is set on a sliding pay scale which is kept in aligntnenl with th¢ resL of the Staff. It Illows for a sm￿1 yurly bonus lor added responsibility. This bonus has not changcd 5ignifiGanily over the Izst lo I'hc tn￿le¢S mcct ¥cgul4rly to d￿¢M71￿C the g¢neral poliry of the tLWt, Thc day to day m8nag¢menl of thc 3chool and oth¢r fa¢iliiies is d¢l¢gated ¢0 an ¢xeeutive o(fi¢e. Relatiollsbips wltb reknted parlles NewE*le FaT• Cottag¢5 Limitsd N'ewgale Farm Collages l.irni(ed is a subsidiary of the Trust esLiblished to mandge the iThcorne fro￿ ihese propBrties. AII PTof115 of thi5 cwpauy are pa53ed to the T￿51. The ￿Tr￿p,% activities expose it 10 a numkr ot'fLnancial risks intluding credil Tisk, cash tlow risk and liquidiry risk. The w¢ of r]nancial derivativ¢s ￿ govern¢d by the group'5 policie5 approved by the board of tnjslees, which PToviO¢ written principl&% i)n the of fin9ncl￿ derivtttivLs to manage Ihe8e risks. The 8TOUP does rtoi use dertvative rinancial instruments for speculative purposes. Crtshflow ris Th¢ group's activiti¢s il primgrily to Ihe financia] risks of ¢I￿nge$ itt foreign ¢urren¢y eXCh￿E￿ r&tes and iiieresl rales. Inierest bearing￿Se19 liabili¢ies are held 81 fLKeJ rHt¢ to ¢nsur¢ G¢n8iniy of r¥sh flpws. Page 5 GreeDfields Ed￿c￿lI0￿*1 Trusl Tru$t¢¢s' Report cred1r1￿k The group's piincip￿ finaDcial assets are bank ba]ances and ¢ash, tr&de and other reccivables. and invesim¢nts. 'Ihe group'% credit risk 13 prinarily auributsble 10 its trade teceiv8bles.-fhe amounts presented in the b￿￿¢¢ sheet are net of allowanGes for doubtlul receivables. An allo%%*nc¢ for impairrnent is mwje where Ihere is am identified loss ¢vent wlllch, ba8ed on pr¢viou5 experience. i5 evidence of a reduction in the ￿COV¢r3b)Iity of the cash flo The credit risk on liquid funds and derivaiive fman¢i81 instrLm)ents is li￿lI￿j because the wunteIpartieg arc bw&$ ih high Credtt_ratlt￿ ￿l&lled by Intetnation￿ ¢redit-ratiiig agenci￿. Thc group has no signifiwi collwilration of¢redii risL wilh exposure spread ovcr a laTgr ofcounterpartics aDd CUS￿mer In ordcr lo rntiintsth liquidity to ensurt ihat suffL¢ienl fwids are avai]able for on80ing op¢rgti(ms and futhr¢ dEVtlopmettts, the group ￿¢3 a rnixlure of Iot]g-iem 8md short-iemi debt finance. Fther &taiJs T¢gard￿8 liquidity risk cati be fvund in the Statcm¢nt ol a¢countthi po]icies in th¢ fuLanci slalernenls. Page 6 Creenfields Edlleational Tr￿St Trustees, Report Stat¢weDt of trn$¢ees' ruponslbllltks Thr tTUSt¢¢s Iwho also th¢ dir¢ciors of Cirecnlields F.dllutI(￿￿ Trust lor tk purp)5es of compny lawl 2re responsible for preparing iht Irv￿e¢S. report and lh¢ f￿anCial st&tements in accordanc¢ with applirable law and Urtiod Kirtgdom Aetounting Stattdards IL1tiiicd Kingdom Generally Awcptrd Accouming Praciicel, inGludiro FRS 102"The F￿￿￿la1 Reporting Standard appliLable in th¢ UK and Republi¢ oifrtland". C(¥npany law requires the In)￿eeS io prepare fjttattcial st&ternent5 for eaGh fIna￿Et￿ year. Under ¢oTrpany law tl Inwees MU￿ noi ¥prove ¢h¢ fir)9ncid ￿t￿Ern¢n￿ un1¢$5 they 3Te 5atisfiEd that th¢y giv¢ a Lruv and fair view ofthe stat¢ of affai￿ of the pArenl charitable CA)mpany 8rd the group 2nd of thé incoming res0￿rte8 and applicatlOD of resources. including its Èneom¢ and ￿￿ndit￿r¢, of th¢ charilabje group for that period. In preparing th￿e fllwjcial st8tcmcttts. the trus*¢s are required 10.. sel¢cl suitsbl¢ 8cwuntin8 policies ar￿ apply them consi#eJrtly', )setve the mell￿d$ and principl&8 in the Chariiies so1￿. m8k¢ judgements ¢5tim*¢5 thal ar¢ r¢4sondble and prndenl. e wheiher applicable attountinB standard%. comprising FRS 102 have been followtd. subject 10 any matrria] departur¢$ di￿loSed atsd expi&ined in the fjnaNial statsMent8.' and prerdre the filla￿la1 siaitmenls on the g(ping ¢(mcem basis unle$8 it 15 ingppropri8tr to presurn& that the pr4nt charitable COllbp&ny will ¢onlinue in b￿siness. The tru5tCe5 ¥e restx>nsibl¢ for keeping proper accounting Tecords (hat can di5clo8e iyiih Teasonable tc¢urA¢y ai 8ny lim¢ the fJnanGta] po5iiion (kf the parenl charitable company and the group and enable thBsn lo ¢n￿re that the rithanci8151w£ments comply wilh th¢ Compsnies Aot 20(kn. They w¢ glso T¢5ponyibl¢ for 5af¢gugrding th¢ a5Set$ of Ihc pwenl ¢haritablc company and thc 8rnvp and b¢nce for oking rcason8bl¢ 5L¢PS for the pr¢v¢niion and d¢t¢ction of frnud other itr¢guiaritits. The Intstees are responsible for the matntenan¢e and initgrily of the ¢orporaie and fthan¢iai ittfomaiion included on th¢ ¢haTiiable company'5 wtbsile. [￿lsIation Eoveming the PTepaTation athj dissemiDalioJJ or financi￿ iatrmetlls may differ Irom legislalion in other juii5diclions. DtstJ05ure of thformatititt to xudltor Each frus*¢ hAS lak¢fj Sieps that thcy to hBvc tsken as & t￿$t¢¢ in order to make Ihern5elves awBre of aThy relevant audii iofoTmaiion dnd 10 establish Ihal the charity's audiior i5 aware of that infonDalion. The trusiees ¢onfm that there is no relevant infotmwion that they know ofand of which they know th¢ audiwr is unawarL - h¢ annual r¢port was appr￿c¥j by thc tnJsL¢¢s of the charity on 25 June 2026 3nd 518ned on its behaifby-. P Hodkin Chairman Page 7 Greenfi¢lds Edu¢ational Trnsl llldependent Amditor's Report to the Members of Gr¢eDfi¢lds Educatiottal Trust OplDion We hav¥ audiicd thE financial ststements ofGr¢enfJelds EducaliDnal Trust Iihe ¢hgril&ble pareni company'l and its subsidiary Ilhe group) for the year ended 31 Augu512025, which th¢ consolida￿ Statrm¢nl of Financial Aclivities, consolidat￿ Balance Sheei, Bal￿¢¢ Sheel, Consolidated Stalem¢ni of Cash Flows, Sta*m¢nl of C￿h Flows and Notes to the fIN*￿Ial SlatemEnts. including ? Dr siwficant ac£ounling policies.'I"hc finonci&l ¢pJrting thai ha5 be¢n 4)plied in thciT prepar￿10￿ is Uniied Kingdom ArKounting Siandard& ¢omprisin8 Charities SOIiP - FRS 102 The Financial Reporting Slanilard applicable in th¢ UK and Republir of Jr¢land' ¥md 4)plicablc law (United Kingdorn General]y A￿ePted Accounting PtRctir¢l. lttour opinion the fll)anGial 5thtem￿ts'. give a truc and fair view of the s¢ale of the group's and ¢harity'S ￿TairS a5 #t 31 August 2025 and of its illcomu)g resourtts attd applicytiort of resources, includiThg its income and expcnditure. for the year then ended.. have been properly prepprtAI in ac¢ordartee with Unittyj Kingdom fjerw811y Acttpted ArcouTrling Pwtice. attd have been p￿Pared in atcfjrdancc with the requllem¢nty of the Compamies AGt 2006. B•sls for opthlo W¢ condu£ted ow audit in llcwrdance with IrtCTnational St3lldard5 OTr Auditing (UK) OSAS (UK)) And applicable law. Our T¢6POLsibiliiies under those slaftddrds are furthcr d¢s¢rihed in the audiior r¢5wnsibililies for Ibe audil of th¢ finfinciaj statt4nents s¢ction of our rewt. We are indepellde￿t of Ihe 8mup in accordancc with the ethical requirernents tILat ort relevant 10 tsur audii of the tittoncial 3taternents in Iht UK, iocludill¥ the FRC's Ethical Standard. and we ha￿ fvifilled our othef ethical reswnsibililies in accordan¢¢ with these requir¢mcnts. We believe IhJt Ihe audit evidett¢¢ we have obtained is sufficient and approprialeto provide a b&si5 for OUT Opltiion. Con¢lusloDs r¢lating to golkng ¢ODUrn In￿dIting the finBnciÈJ slatemenis, we have concluded that the twst¢f5 us¢ of the go&ng conccm ba515 of account in the pttparation of the finall¢t￿ slat¢m¢nts is appropriat¢. Bas&1 on the work we have perfomtd, ￿ hav¢ not ideniified any tnalrrial uncertaiIities relating io ¢v¢nts or conditiong thaL individually or collEcliv¢ly, mlly c&%t 8ignifi¢8nE doubl On Ihe grfrups ability to coniinue as a goin8 nc¢rn fora period of at least twelve months from Ivh¢A the original fin￿¢1￿1 $tÈtements were authorised lor i%sue. Ourr&%ponsibililies and th¢ r¢spon5ibilili&8 Df the th￿tee5 iyith r¢spe£tto g(>ing¢onctrn are d&*cribed in th¢ r¢l¢v&ni sections olthis report. Othtr Informatio The tnL8tees are Te8ponsible for the other inforniation. The other inforniation compri￿$ the intorniation inoluded in th¢ annual report, othBr thvm th¢ financial sthtem¢nts gnd oui. auditor's Teport the￿0Th. Our opinion on the financial 5tsternents does not Cover Ihe oih¢r information and. except lo Ihc exi¢DI otheph75e expli¢itly slated in OUT rtport, we do llDI ￿prts5 any forni of ￿vraNGe tonclusion thcreorL Page 8 Greenfields FAI￿¢4110￿￿1 Trttst Indep¢ndent AudStor's Report to the Members of Greenfields Ed￿￿tional Tr￿st Ill ¢onneaion with our audit uf the finallcial statements, our Fesp)n5ibility l5 to Ihe othet informalith ￿d, in doirtg so, consider whether the other infomiation is materially incoDsi5t¢ul with the financial 51atemenlS or vur knowled8e obtsined in audit or othcnvise oppcaTS to bc M*erI￿lY misslatrd. Jr we identify Such material ¢n¢un5151en¢i&% or appateni Maleri￿ misgialements, we are r¢quiTed lo determine whether there is a material misstatern¢hi in the fJnan¢id statements or a matsrial miss¢￿eMent of thc other infonn&tion. If, b85¢d on the work we have perfonned. we ¢onclude Ihtt there is & mai¢ri&l missiatem¢ni oFihis tKh#r information, we are requtred lo report It￿ fact. We have nothing io repon in Ihis regard. OplDion otber matter preseribed by tbt Cothpxbl&s Aei 2006 In our opinion, b¥ed on the ￿)rk undertaken in the course ofthe audit.. the ithrmation given in the Stralcgic Report a￿d.1 rus¢￿%, Rwrt lor thc finanei•l y¢ar for which the financiAJ st4t¢ment5 Are prepared is consislenl with the f￿ancial staiements., aj the Sttatrgic Report and Tnutees, R¢pon hdve been w¢p8r¢d in wth ¥pplicabl¢ l¢841 JEqU￿¢￿¢￿ts. Malt¢rs OD w¢ 4r¢ requI￿d to report by¢xctptsi In the IiEht knowledbJ¢ und¢Tridnding ofihe group and ihe Lhariiable pareni company and IL4 envirottment Ob￿ned in the ¢OUTse of the audil we hove not identified ma*rial missiatemej￿ in thc SirateEtc Report and the ThLS(ee5' Repo We havc nothing to teport itt r&we¢t ofthe followin8 mattws where the Companies Ath 2￿6 wuiru u$ to rcportto you if, in ouropinion.. adequate acGOUllting recor(b have nol been kept by Ihe parrnl ¢harii¥ble company. or JtNms adequatr for our audit h&v¢ not been received from bTanGhes nol visited by Lts,. or the parent charitsble coojpany f]nartcial stalemenis ￿t nol ÉD agrcemeiii with th¢ accounliog records an(f r¢iwDs,' or ¢ertaiTh disclosures olirustees remunerntion ￿etir1ed by law art ttot rttade., ot we have not recetved all the thfomiaiion ajyl ¢xplan91ions we require lor our audiL Respo￿51b￿lItkS of trusts¢s A5 explained more fully itt the Sialemeni Df Irustee5' r¢sponsibilities {sei out on pag¢ 71, th¢ tyustees are re5ponsibl¢ foT th¢ Preparation of Ihe fin8nGial slatem￿lS and for being 8a¢isfied that Ihey give a true and fair view, and ftr suth inL¢rnai control as the I￿le£S delerrnine is necessary io enalAe Ihe weparaiion of financial stsiements thai arc frcc from maierigj misSta¢emeni, whcthcr due io fraud or¢rror. In PTeparing the fillallci￿ $18¢meoi$. the Lrusiees are ￿ponSIble for &wssing Ihe charit￿8 ability to conlinue going £onGern. disclosing, as applitable. matters relaied ￿ going con¢cm and using th¢ Boing concern basi5 of accDuntin8 unless the trustees eilher intend io liquidaie thc chariiy or 10 operaiion% or have no r¢alislic icrnalivc bul to do s(k. Page 9 Greenfields Edut*tionxl Tru$t Independent Auditor'5 Report to the Members of Greenfields Educational Trust Audltor respott8lbilities ftrr tht •udfit of ttL¢ fiDanei•l statrmellts Our objc¢iive5 are to vbtsin r¢awnable L%Surattce about wh¢th¢r the fJLan¢ial Jatemenls as a whol¢ are free from mhtcrial misstatement. wh¢ther due ro fr8ud or error, io issue audI￿r'S Feport that includes our opinion. R¥asonable assurance is a high level of a53uranc¢, but i% hoi a guarBn*e that an audit conduded in accordaThGe with JSAJ liQ(I will ￿w￿yS dElect a material missiatem¢Tht when il ¥xists. Mi551at¢Tnents cat) Ui5e from fraud or error d are considered maI￿al if, tndividuaily or iti the aggTegaie, they could r¢asonably be ¢xpccted tv influen¢¢ Ihc onomic decisions of us¢rn laketL on the basis ofth¢s¢ fingtKial statcments. The Extent to which our pro¢edwes are capable rjf dctc¢ting irregularities, kne1Udll￿ frdud is detailed below.. The detection of fraud artd wregularities is a primary Consid￿￿tIOn of thc audit planning and is c￿led through to thc audit completiort stag¢. A risk assessmenl arHI preliminary at)￿y11(al rt¥i¢w is undcrt&k¢n at the planning sw and areas of concern are ihen built into ihe audit Strate￿ te5ling Éo ensure s￿￿lLit￿t proctthJr¢s evidence is obthined to give comfort Ihal mateTial irregularili&s and polcntial insith¢es of fraud are de￿Ied wtfft possibl¢. Btsih the PaMI fjreenfields Edurational T￿L 8nd the subsidiary Newgale Cottages T.imited arc both audiied 5¢VaAtely by us following the s￿¢ prOc￿e$ tailoredto eath entity. the ¢Oll$DlidatiLill 18 also audited. The audit 1¢am is F>rieFed regarding zny 8rcas or con(¢m. thB potential audii risks and conwueniial IMP￿1. 'The dit tEarn rtmAiThed vigilant thruu¥huul thew work 8Ni made cnquwi¢s of key manag¢ment finance personnel throughout. GrecnfJ¢lds artd Newga]¢ key mand¥ement finan¥e personncl w¢r¢ wn5ulted ort known or suspeued breaches in laws and rcgulaiions along with mi8appropriation offvnds ai both the planning and compleiion stages of lh¢ audit. Due LUDsideralion wa5 siveTr to Ilk possibl¢ use oFmanaRLxDent override and this was buili inlo our audii Th¢ iniliul Tisk as5e55m¢ni bi¥hli¥hted a poteniial show stopper bttirtg of norrcothpliartce with the ISI and Of5ted foT Greenfields Ihc Charity. We werc able to obtain a suffi¢i¢ni evidence thal llD poi¢ntial fisk h&$ aristn. The purpose of the pr¢luninary analytic￿ Teview of the finallc1￿ &at￿ents is 10 highlight any possible area5 of concern to invcsiiWe wheihcr the vgnante is expected or unexpxied. basd on the infomialion obtained as parl of the planning proc¢5s ajd th¥ rufrejlt climate Iht charity is opwaring under. RelevaDt aud>t te$15 ihen been planned to obtain supporting docum¢nlalioR to ensure Ihal ihry are wsthin Ihc Ch￿table objeciiv¢8 aThd no isappropriation of fund5 by wdy ol fraud, or misststcments. Latest accoutJL8 disclosure £hecklists availablt 3r¢ Jlso compl¢ted 10 eJJsur¢ lh¢ arcouttts ¢omply y￿1￿ lh¥ latest r¢porting framework that is appliGable to the ¢h8ritable company. There are aspects of the audi¢ which are delib¢rntely l￿predIcta1}le to 8581st in the detection of irregularities, such a¥ vwinR how we lest ittms which aTe more ￿￿tepfible to frdu4 on yeJr and by ijbcorporaling sysiemati sampling over the populaEi(trJkS lested. A fvrther descriplion of our ressM)n%ibilities is availabl¢ on the Finan¢i*l Rewritng Council's website At.. wMY.frc.or&uklaudiiorsttsponsibilities. Thib d¢5Gfipiion forn)s pdrt ofourauditor'3 report. Page 10 Gre¢nfi¢lds Edufational Tntst Indeptndtnt Auditor's Report to tbe Members of Greenfields Edu¢a¢lonal Trust This repori is made solely 10 the charitable partni Company s a5 a body¥ IA ar£ordance with Chapltr 3 of Port 16 of thc Cornpanie5 Act 2006. OUT audil WOTk has b¢en un(krtak¢n yo th& we Jnighi 318* to the group's trustees th￿se matter5 w¢ gr¢ required lo siatE to them in all a￿jItOr'S report and for no oiheT purpose. Tn the fullest exient pemLitted by law, w¢ do noi actspt or ¥sume Te5pvnsibilily io anyone oiher than ihe charitable parent eompany and its trUStc¢s as a body, lor our audit work, lor this report, or forihe opinioDS w¢ have fonned. Rowena T K Walsh (Senior &atutory Auditor) Trorond on b¢h&ifof Manningtons, Stat￿ory Auditor 39 High Stre E> Sussex ITr133 OEE 25 June 2026 P8g¢ 11 Greenfi¢lds Educational Trust Consolidated Statement of FinallciAI Acti&ities for the Year Ended 31 Avgust 2025 (Including CoD$olidated Income and Expendilure Account and StatemeRt of Total Reeognised GaiD$ and Losses) UDrtJlricttd fuud$ RtvaluatioD Reservé Total 2025 Nott Vatome *lld EDdoivm¢tLts trom: Donalions and It8aci¢s ChzTiiible a¢iivitie5 Subsidiw income Investhient it￿OMe (ther ￿COMe 46.593 ,213.552 23.7UO 46,593 .213.552 23,700 413 5,200 5,200 Totsl ir￿Me 1.289.458 1.289.458 ExptnditUTé QD- Subsithary Expenditure Charitable2rlivities {4.18(11 {1,533,3291 {179.739 (J,513,0681 ToLqI expendilurt Net cxprnditurt Net mOv¢m￿l irj funds 11.337.509) 179.739 (1,517.2481 148,051> 1179.739) 1227,7901 148.051} {179,739} 1227,7901 RettsD¢UiatiOD orfuttds Totsl tund5 brought forward 1.700,533 2,898,303 4,598,836 Totsl fiuLds c¥nttd forward 23 1.652,482 2,718.564 4,371,046 The no¢c5 on pAges 18 tts 4Tr fomi an In￿8[aL part ol"these fJllan¢ial s¢at¢m¢nts. Page 12 Greetlfields E￿￿￿tiOnal TTllSt CoRsolidated Sl*temeTrt of Financial Activities for the Year Ended 31 Augu8t 21125 UncludlDg Consolidatcd llleome EXpe￿di(Ure Aceaunt 4Dd Statement of Total Re¢ogni8ed Gains and L055es) Ullre5trlcted funds ReYal¥atioD Ré5erv¢ Totsl 2024 Nots IDCOmt Elldowments from.. t)orolions and legacies Charitsble eclivilie5 Subsidiary incomc Investrneni income Other income 18,139 1.893.994 24,00 2,247 34,80D 1.891.994 24.6(Kl 2.247 34.800 Totsl irhcome 1973 78Q 1,973,780 EKpeDdltsre OJJ: Subsidiary Expcnditurr Charitabl¢ a¢iivili¢s 112,617) 2.400,413 12.400.413) Total ¢xp¢nditure Net expenditure 2.413.030 2,413,030) 439,250 {439,250} Net movernenl in [￿d$ 1439250) 1439.250} Total funds brought forward 2,139,784 2.898.303 5,038,087 4,598,837 Total fund5 Ca￿led forwdrd 23 ,700,534 2,898.301 All of thc group'5 activities derive frorn continuing operations during the above two periods. llxt f￿)d3 breakth)wts for 2025 Artd 2024 is shown in note 23. Thc noic8 on pggcs 18 10 40forni an inl¢grnl pari ofihcs¢ financial sta*m¢JJis. ])age 13 Greenfield$ EducaÉiuDal Trust (Rcgistrntlon number: 01721)539) Consolidated Balance Sheet as 4t 31 Augus¢ 2025 202S 2024 Note Flxed assets Tangible assets 15 3.777,476 6,361,S07 Currtnt a$5et Stocks Debtors CÈ5h at and io h￿a 12,362 459.016 10,498 481.876 31.196 109,979 19 155,484 Credltors: Amounts falling due Yjithill ODt wr 20 829,671 620,7291 Net ¢yrrent liabl]ilie4 1347.7951 465.245) Totsl asjets It&* turrtnt liabilities 3,429,681 5.896.262 1,297,425 Crediton.. Amo•thts faming dut after more tbits year 21 11.238.373 Net gssets 4,191,308 4.59&837 V¥Mds of tbt grollp: UDrestricttd thtom¢ funds Unt¢5triCted fun(L% ReV￿uall0Tr reserv¢ 1.472.744 2.718.564 1,700,534 2,898,303 Tota) unrestricted fvThls 4,191.308 4,591,308 4,598.837 Totsl ￿ndS 23 4,598,837 Ihe f￿ar￿la[ s&iemems on ￿¢% 12 10 40 wEr¢ aH)roveA by the trustees, and authori5ed for i&sue on 25 June 2026 and 5ign¢d on their behalf by.. P Hodkin Lhaimian The notes on pages 18 to 40 forni an iAiegrNI parl olthe5e financial statements. Pag¢ 14 Gretnfields EdueatioAal Trust (Registration number: 01720539) Balance Sheet as at 31 Augpjsl 2025 1025 2024 FIA¢d 8isets Tgngkble a55¢ts Invesiments 5,777,476 6,361.507 5,777,477 6,361,508 Currtllt Stooks Debtors C&sh stbank and in hand 27 12,362 459,016 10,491 31,196 109.979 19 481.869 155,289 C*¢ditor8'. Amollnts f*lJillg due within oné yé (829.663} 1620.5351 Ntt turr¢D¢ Ilabilitit5 (347,7941 1465.2461 Tot*l assets le95 ¢urrent liabiliti¢ 5,429.683 5,896,262 Ctditsrs: fallbjg due after more than ont ytar 21 {1,238,373) 11,297,425} Net *s$ets 4,191.310 4 598,837 Fuuds of the eh*rlty: Uur¢strirttd ltstomt tstkds Unrestri¢*d furjds ReV￿uatIon rfXTVC 1,472,746 2,718.564 1.700,534 2,898,303 Tots] unr¢5trictcd funds 4,191,310 4,598,837 Tgt*l futsds 4,191,310 4.598.837 The fthancial statements on pages 12 10 40 weK approv￿ by the trustces, and athorised for issuc M 25 June 2026 and *gn¢d QD their behalf by: P Hodkin Chaimiart Thenoies on pages 18 to 40 fonn Bn integral part ofthe5¢ financial sialem¢nts. Pa8¢ 15 Greenfields Edueation#l Trnst Con501idated Statement of Cash Flows for the Year Ended 31 August 2025 2025 2024 t4ote Cask Iloivs from operdtiD% artlvttl¢s Net cath expenditur¢ 1227,790) {439,2501 Ad￿￿￿t￿ents to flfflys from llOn-¢￿h items DepTe¢iation Investment incotnc Los￿(profIt} on disposal of tangible fixed Dssets 13.298 14131 60.000 14,061 12,2471 17,(K)01 1434,4361 IIS4.905) Workin¥ clpital •djustm¢bts Decr¢as¢ in stocks InGr¢ase ￿ dthors {DccTeaseyincy¢&s¢ in¢reditors Incr¢￿¢ in relirtmeni ben¢fii tsbligation nel of )cwJrial chaNges 1&834 {349,0371 193.771) 3,549 144,044) 21.436 19,278) 18 20 Nei ￿8h llows from operating activities Casb nows troTB investlll2 actiYitht5 Inlercsi rtccived Aquisitions oftangible assets Proceeds from sale of latLgible ass¢ts 1530,879 (462.7731 413 733 510.ODO 2,247 16,8521 7,0 Ncl flows from investing ￿lIVitI Cash flows from fJnxD£knE *cthrltle5 P￿CeedS from new b&)k b)Trowing8 during ih¢ ￿riod Repayment olbank borrovrimgs Nrt tA%h flows from finat]¢in8 activiii¢s 2,395 1753.5001 819,422 173,78J 65.922 173,760 dec]tase in cth and ¢*sh equivalents C&%h and c&th equiyaiellts al I S¢ptember Cash It￿ cth cquivaients at 31 August 1286,618} 14,309 ]￿,92? 14JO9 All of th¢ ¢95h flows are deriv¢d fro]n tontinuing oFrdlions dwing the above two p¢rio(ts. The notes on pag&$ 18 ID40 form an in¢egrnl part of thcs¢ fi￿￿nCl￿ staiemettts. Page 16 Greenfklds Educational Trust Ststem¢nt of CA$b Flow$ for the Year EDded 31 August 2025 2025 2024 Note Cash flows from DperAtiDg *etivttits Nei tash expetsdiiure 1227,7881 1439.056) Adju5trnents to ca$b floviy frollL lttms Depreciation JDV¢Stment tncome Lo&(profitl Dndiswsai of tawble fjxed assets 13,298 14131 60,000 14,061 11247) 17.0001 1434.2421 1154,903) Workitt8 tapil41 adlustmellts Decrea￿ in siod(s Increase in debtors 1Dccrc￿Y1nGr￿e in Ctediiors De¢rtase in deferred In￿Me 17 18,834 1349,0381 {95.5781 3,549 140,1641 28.306 19.278 20 Net C8sh tiows from operdtingactivitie5 580.685 451,829 Cash llows fro￿ iDv¢*tillt#etivStl¢s Intr￿5( ￿CeIve Ae4Ui5ltions of tangibl¥ &%2ets PN)ceeds from s￿C of tsrtgible assets 413 733 510,000 2.247 16.8521 7.(K)O NEt cash flows from iThvesiing a¢iiviiies 2.39S C￿h nows froTr fiDaDcillE activities Procttd¥ from new bDirowings during th¢ period Repayment of bank bornhwings Nei cth flows from fIn￿cIng acliviti Nel decrease in and cash equ¢val¢nts Cash and cash cquivulents 4¢ I sep￿rnb¢r 1753.5(X)I 819.422 173,760 173,760 (3.617) 1275.674} 289,983 Cash and Ga5h ¢quiv3l¢nL% at31 Augu 10.498 14,309 All ofthe flows are derived from ¢onlinuin8 operations during the abtsve Nvo periods. The now on pagtx 18 tg 40 fom an iKlt8ral part ofthese fjnancial statem¢nts. PAg¢ 17 Greenfields E(lu£atioDal Trust Not¢s to tb¢ ￿nancISI StatemeDts for th¢ Year Ended 31 Allgust 2025 I Charity stitus -Ibc charity is limited by guaT&n*4 inc￿rated in Englana and Wales. consequently docs not have slwe capital. FAch of the tr￿tr$ is liable 10 conlribute an amount not ex¢eedin8 £1 the Osseiy of the Èhatiiy in Ihe evcnt of liquidaiiOJ]. Thc addr¢ss ofits regist¢r&4 office is: GT¢¢nfi¢lds School Priory Road Forest Row Fast Sussex RH185JD Z Ac¢ouDtIDg p0￿d￿% SumThary of sJgDifi¢4Dt *¢couDtly poli¢l¢s kry a¢c&unting t8￿mat*S The pri￿1paI zKcountin8 pobcie3 4)plied in the preparation of these finartcial staicments ore ￿ out below. These r4)li¢i¢5 have been tonsistgmly applied ￿ all rhe yeats presented, unless oth¢rwi8¢ Stated. ststtkntent •f Co￿p￿an￿ The financi￿ siatemenis have been prepared in arKordan¢e with Ac¢outhing llnd Reportitig by Ch8ritie5.' Sia*ment of RecomtTrcnded Practice {appli¢able lo charilies preparing their a(¢ounls in accordance with Ehe Financial Reporting Slarndard applicable in the UK and Republic Df Ir¢l&Dd {FRS 10211 {i5sued in O¢iob¢r 20191- IC.harities SORP IFRS 10211. Ihe FinHn¢ial Repoffin8 Standard appli¢abl¢ in the UK and R¢yubli¢ ofirelond Ir.RS 1021 and Ihe compani￿ Act 21Y)6. B*$is of prtPAratioD Greenfi¢ld5 Edu¢aiima] TnLU meths the definition of a public benefit entity under FKS 102. Ass¢ts and liabilitie5 are ini11￿[Y reco￿liSed at hi$tOTic81 CO￿ or trgnsa£lioL value unless otheywise 5tsted in thc relevgllt actounting poltcy notes. B¥$is of ion¥olldAtIoD solidated fJtTran¢i&l statements eonsvlidale the financial slathents of ih¢ charity and its $ubgidiary undertaking5 drawn up 10 31 thgu3t 2024. No Sfaiement of fin•ncid acliTriii¢8 is p￿S¢ntrd lor the ¢hariiy &$ by se¢iion 408 (bf the Companies Act 2006. The chatity made a juss after lax forth¢ financial of £227,79012024_1oss of £439.2501 Pa8e 18 Gr¢enfi¢lds Edu¢4tional Try$t Notes tli the FID&nefial Statements for the Year Ended 31 August 2025 A subs¥Jiary is an entity conirolled by the Gharily. Control is aBhi¢v¢d wh¢r¢ th¢ Ch￿ltY has the power 10 govern th¢ fiTHn¢ial and opergLtinE poli¢ies of hn ehtjLy $0 &q l(Tr oblaitt F￿nefits fmm its aclivitifxs. Intet-c4)mrony transactions, balances alld unlealised gains on tTrosadions b¢lwe¢n th¢ ¢harity and it5 subsiitiari￿, which are related parties, are elimina*d in full. Intra-group 105seg aT¢ dso elimina￿ blll may indi¢aie an impairment thai wutres recognition in the con801idated rinancial slale4nenl5. ACCI￿nting polTcies of subsidiaries have been changed whert TJecessary to ettsure Consistency I4iih the policies adopTed by the 8￿p. Ntsn4ontttrlliLg1rtierests irt the nei assets of ¢onsolid#t¢d subsidiaries are identified sepaNi¢ly from the group's 4uity therein. Non•controlliTrg intertsis eollsisi of the amouni of ihose interests at Ihe dale of ihe ()riginal business combination and Ihe non*coThlrolling shareholder's 5harc of changes in equity since Ihe dale of the combinaiion. Total wmweh¢n5lV¢ Lncom¢ 18 attribut¢d to non.wotrolling illt¢￿ts cven if rtsulis in th¢ tLOn-¢ontrolling int¢rests havin8 & dcficit balance. Goib¥ t•n¢eY Ttke trustees ¢DJJsidcrthat there ar¢ no material unc£rtaillucs abo￿ th¢ groups ability io continue as a going concern nor any signifionl arca$ of un¢trtainty that #fft¢l the £￿￿1n$ value Of&&£¢￿ h¢ld by Ihc group. The ￿knO1 is cxpeticncing considerable fitwicial press￿¢ duc io the current e*)vironmenl for independent schools, and is having lo rrorgatjise and reali5¢ aiseL5. Plan8 art bBiD8 Wotktd oj) 10 #ddw$ the erre¢L¥ ofth¢5¢ and th¢ trust agtsing aTesull. Judg*mettts R¢wgnilion of income, inc]uding f¢e income and discounts O'udgernenil Jud8emenl is required in deterniining the point at Nthith income ¢hariiable adivitics is le¢O￿l$ed, particulaTIy in relation lo fee income, diycounis and bursaries. The iruslEes Gonsider when Ihe charity becornes EnliilBd lo Ihe com¢, the probability of r¢ceipL gnd the ability ts measure the income reliably. DiscoutLls and bursarie5 are recognised as redudions in incomc when awaTded. CorL801idaiion of sub5idiw urndcrtaking tsudgerncntl The group consolidaies Newgale Far￿ Cottages LiTniied &8 a wholly subsidiary. Judgement is applicd iii det¢rmining th¢ appropriale Ite&tm¢nt of intra group tra]Isa¢tion5, including the elimination ol lh¢ subsidiary's Gift Aid distribution of £19.520to the par¢nl ch￿ily. The subsidiary ¢e&%ed trading after the year end followin4 the sale of Ihe New8￿￿ properties, lern￿nS under the control of the Charity at the balance sheet da￿ and i$ therefore con501idated. Pag¢ 19 Greenfields EdllcatioD81 Trust Not£s to the Financial Stat¢nJents for tbe YeY4r Ended 31 Augu812025 Key sourtes of estlmatioll unrtrt¥inty Valuaiign and impairment of iangibl¢ fix¢4 assets leslimats and Judgement boih apply) The group holds $ignificaThl langible fixed gssets, in¢lud2ng land and buildings. D¢ternining whether iudi¢ator5 of impairni¢nl ¢KI￿ requ￿¢8 judgement. pani¢ulbrly in li8hi of the ￿h(￿)1'S reorganisatiOD aftd a&8ei r¢aJisations during the year. Where indicators arc identified. the recovtAbl¢ amount is esiirna*d bdsed OD v￿ue in u5¢ or fyir value les$ Costs 10 sell. ¢al¢ulations requitt a5sumptiom Ttgardtng fuiure intome Stre￿8, thscouni sa1¢5 and mark¢t condilions. No impairment hgs beett recO￿lI¢d in the year, and the I￿￿tee5 consider thc ¢*rying values to retnqin suppDJtsble. Useful economic lives Df tsngiblc fixed &ssds Depreciation is ¢h8rged ￿ wri* down &£sets te th¢ir r&%idual Valu￿ over their estimatrd us¢ful lives. These usebjl lives are reviewed annudly and arnend￿ wlKrc n￿e$S￿. The eslimation of useful live% requirc$ judgem¢nt, pffiicul8rly for buildin8¥ and improvenents where th¢ condilion, usaKe and ex￿Ct¢d fjjiure pl8ny of the school rnay affect Iht period Dver which the 08￿ts provide ewttomic benefit. The win¥ amount is £5,777,476 (2024-£6,361,5071. Recoverability of debiors The tmsiees a85e5s the recovcrability of tradc and oiher reccivabltt% ba5cd on hlsiotical expErience and 5pBcifie knowledge of individual balanc&s. lThi$ includvs considetation of Ihe financial circumstances olfec paying fgmilies and th¢ itnpaci of th¢ wider ¢coDomic environmenL Provi8ions ar¢ mad¢ ￿l¢￿t recovery is eoDsider¢d doubt￿1. The cwrying amouui is £L49,66412024_£149,6641. In<0￿¢ aid tndowm¢uts All incoJn¢ is reco8nised once the charity h&4 entiilemenl to the incoth¢, li is probthle that tTrK inGomE will bB TecBived and the amount of th¢ iocome receivable ¢an b¢ mea5Urt4 reliably. Donati¢)ns are re¢o8tsised when th¢ ¢harity h&8 been notified in writing of bolh the amount and setilemcnt d&e. Its the event that i don&ion is 5ubjeci io condilions that requiTC a level of perfOrni￿¢¢ by the charity b¢r0￿ the charity is enlitltd to Ihe fvnds. th< income is d¢ferred and not r¢cognised uniil either ihose condiiions fully meL or the (￿ri]ment oftho¥e ¢onditlOnS Is wholly within th¢ control of th¢ charity und it 18 probablE that ihese coJJdition5 will be fvifJll¢d in the Teporting P¢AOd. Deferred th¢ome Defrrjrd income rept&8ents amounts rtc¢ive4 for fu(ure periods and is ￿leaS¢d to incymill8 resourt¢s in Ihe ptriod for which. Ll has been received. Surh inrome is only dderred when.. - I"hc donor Specifi￿ ¢hatthe ￿n[ ordortation must only be in full￿¢ ￿¢0￿nting ￿rIOdS., or - Tht donorhas imposd conditions which must bemd before the charity h35 uncondiliortaj cnlitlement. Inves1p￿ni Iheome Investment i1)come ¢omprise5 b8tJk int¢rts1 and is rccoglli5ed on a ￿l¥able basis. Pag¢ 20 Greenfields Education*1 Trust NotÈs to the Fil￿nCl￿1 Statements for the Year Ended 31 Augwsl 2025 Chartlabl¢ oclnvlres Charitsble incoElle is for Ihc pmvision of pre School through io sixth fom) education with add¢d 5UPPOrt by w4y of tutoring available kn all pupils and the gtn¢ral publi¢ inclusive for all who would like to leam. Olkép Olher inwme 1$ rents received from Children'8 Trlous¢ and EffBGtive Educatiott io Greenfielth School to rover the ¢ of tbc ple￿IseS owned by Gretnfields School. Exptndlture All eX￿dIlUre is ]rcogni5d onEE there is a lega] or Constructive obligation to thai cxpcnditure. il is probabl srftlement IS Tequired the arnuunt can be mea5ureil r¢liably. All costs are a]loCa￿d 10 the appliCRble expenditure hrading that aS￿rgate Similar costs tothat category. Whcrc coyts Cannot bB directly ￿thbuted to particulaT headings Ihey have been allocatrd on a basi5 COIISj5tEnl with the use of r¢sour¢6$, with central Staff costs allocatcd OTb the btsis of titthe sp¢ni *)d d¢pr¢cia¢ion charg¢s allocaied on the portion of thc as5¢1's us¢. OtheF SUPPOrt cosis aTe allo￿ted b&sed on the spread of staff costs. Thes¢ are Costs in¢utted in auracliTi8 voluntary illcome, the management of inv¢stm¢nLS dnd tho¥e inuurtd trading aGtivilieg thai raise furtds. Ch¢rlthble act1￿11￿1 Ch￿liable expenditure tomprises those costs incurred by the charity in th¢ delivery ol its &clivitie% alld servites for its benefi¢iatie& 11 irttludes both CO￿ th9t can be gIloGBted directly io su¢h athiviiies gmd ￿￿5¢ cO￿S of an it￿￿reCt aluTe necessary to sUPtx)rt th￿￿. Gov¢rAityt¢ tosts Th¢se include the costs atrtibthtblc 10 th¢ cbarity's compliBnce with consl1tulioT￿ and statutory reouir¢m¢ni5, including audiL strategic rn3nagenLetLt and trust¢u meeiings and reimbuiEed expen5U. T4Xatlo The Charity is considered to pa55 Ihc ta5ts 5cI out in Parngr#ph I Schedule 6 of the F￿a￿te Act 2010 attd therefor¢ it eets the deflwiion of a chariiable comydny for UK COTPDration tax pu￿05¢S. Accordin8ty, the rharily is poieniially cxempl f]otn taxation in respect of In￿￿¢ or (￿Pit￿ gains tEceived wjthin ¢ate8ories cOv￿￿d by Chapter 3 Part I I of the Corporation Tax Act 2010 or Sc¢tion 256 of Ihe Taxation of Chargeablc Gains A¢t 1992, to the extent that suckn orEaW¥ are applied exclusively lo charilable puryosts. Pagc21 Gr¢¢nfield$ D dueatioDal Trnsl Notes to the FinaDeial StAtem¢nts for tbe Year Ended 31 AuEilSt 2025 T¥ngible fixed ass¢ts Individual fjxed aSs￿S w3tiDg £200.00 or mor¢ ue inilia51y recorded at ￿$1. l¢ss any Subsequent a￿UMulated dep￿Clo110n a[￿ sub8¢quent aCcthnUla￿d impwTment losses. The land and buildings was rcvalued in 2016 fjttancial year by RH & RW ClulloD Chartered Survcyor5. L8nd Agen￿ R￿C8 ValuEt5, an Independent va14]Er I S¢ptemFrtr 2015. Th¢ revaluatiort was ty¢ated as deemed wsl the first year of adopting FRS 102. The idnd and building will remain record¢d at CO￿ ajbl will not be accounted for undcr Iht reV￿￿all0￿ modcl. Dtpreelatlon ￿￿Orth5*1i0￿ Depreciation is provided on tangible fix¢d 455elS so as w WTii¢ off the ￿81 or valuation, less any estimatEd iesidual V￿Ue, over their expected useful C￿noMiC lifr fr>llows'. Asset tlasj Fixtures and fittyjgs Motorvthicles Depretlatlom method rate 15¥4- 25Yo Str￿ght line 20Yi straight linc Busthtts ¢ornbittAllob$ Busine55 combin9tion5 are aCcOuDl￿ uThder the purthase method. Wh¢rc nwsary. adjusrments ar¢ tnade io th¢ finantial siat¢menls of subsid1￿￿e￿ io bring the a¢couniing wli&iBs LMI into line with thDSC used by Ihc group. All Ltrn-group transacti0rt5, balanccs, in¢ome and expens¢s arc elimll)ll*d on consolidatiDn. In accordance wilh s￿li0n 35 of FRS 102, Section 19 of FRS 102 h&s nol appli¢d in Ihc5¢ filw1ci￿ statcments in res￿1 of business owbinalioas efferted priot to th¢ date (kf transition. Stoc]K Stock is valued at the lower of cosl and eSti[na￿ selliDg price less ¢osts lo corllplete and sell. after due regard lor obsol￿e and Slow moving 5toEk& Cost is delemiin¢d using th¢ fust-ith, flys1-o￿ IFIFO}. Tride debtor4 TTad¢ debtors are 8tnounts du¢ Irorn custoroers form￿￿bandis¢ sold or %[Vi￿ performed in th£ Ordin￿ course of business. Trade debtors are reco￿1¥¢0 initially at th¢ tranya¢lion pric#. They are suwuently m¢asw¢d at amort15ed ¢05t using the eff¢cti¥e intei'esi method, less provision for impaillncnt. A provi$ion for the impairnienl of trade debtoTh is establish¢d when thtrc 1$ obj¢ctive ¢viden¢e that ihe Gharity will be able lo collc¢L all amounts dut a¢cording 10 the oJ?ginal Ths DftlLe receivabl65. Casb 4nd ¢￿sk tquivaients Cash And equivalents compllk tash on hand atyJ call deFKbSits, 8nd oth¢r $hort-tern knghiy liquid investrnenl3 that ar¢ r¢adily ¢ottveNible (o a known Wnollni ofcash aTLd art $ubjecttO an insigttificant risk of ¢h)thge in valug. PBgr 22 Greenflelds Eduealional Trll$t Notes to the Financial Statements for the Year Ellded 31 Augnst 2025 Trnde ertditorj Trade ryeditors are obligations w pay for goosts or s¢rvices Ihal hav¢ ken atqlli￿a in ihe ordinary cour£e of busin&55 from suppli¢rs. A¢covnts payabl¢ are cl&s4ilied ￿￿reAl liabilities if the ¢h8riry a(￿S nol have an unconditional right, al the ¢nd ofthe reporliJ]g p¢riod, to defer settlBItienl of Ihc crcditor for at l¢asl tw¢lve months gtter the r¢roning dale. If IhBre is ￿ unconditional righi ¢0 d¢f¢r Settle￿ protect the hDlder again51 the rtedtl dcierioration of th¢ issuer or a eaang¢ in control of the i55uer, or to protect thE holder or issuer ogairtsi ¢h&ng&% in levies appli￿ by a central bank orarisin8 from changes &n relevani iax*ion orlaw. lfj Contractual piovisions may p¢miil Ihc extension of Ihe iemi of the debt I￿8￿mEn￿ provided that ihe return to the holder and 8lly Other ¢on1rattU￿ provisions dpplicable durin8 the extended tem) saiisfy the condition5 or parngraph5 (al to (¢1. Debt instrLuncnts that Gla35ili¢d as payable or receivablB within otje ytdr on initial ￿cOgnItion and iyhith ￿tel the above conditions are rnea5ured al the un(tiscounted amount of the cash or othcr consideiation Expected to be paid or received, net of impainnem. With the exception ofsome hedging instrum¢nL4, oiher dcbl in5rrumenis not meeting ihese condilioD8 &ie measured ai fair value through profitorloss, CoJnmilmetLts 10 make Je¢eive loans which Ibe condiiions mcnitonel abov¢ me8sureJ at cost (which rnBy be nil) le$5 lryp3irn)w￿. Investments ill &ub5idiaties and associates are measured ai ¢￿t less impairnient. For investments in sub5idiaTies acquircd for cvn$id¢ration including the issue of$harts Qualifying ItrT m¢rget reli¢f, cijst 14 measure(I by r¢f¢renceto Ihe nomin&l vBlue ofthe thare5 issued plus fairvaltse ofoiher Consideraiiort. Atty prcmsiim is ignored. PAKe 25 Gre¢nfields Edu¢atlODal Trnst Notes to the FinaD¢l&l Statements for the Year Ended 31 Autust 2025 FoiTVrtlueme475UTimenl The bBs1 evi(knrK of fail is a quoled price for an idettiical as5el in aciive markel. When quoted pri(e5 art unavailable, the price ora Fecent trdn5aclion for *n id¢ntiGal asset pmvides evidence of fDir value as long ￿ thete has not bcen a significant ¢hang¢ in economic or a significanl oftime sincc thB transa¢iion look place. If the markcl is not ac(ive and recent Ir8nsatlion8 of8n idenli¢aS asset on theit are not a 8ood cslimal¢ of rairvalu¢, the fair vgllle is esEima¢ed by uyiftg a valuation Icohnique. 3 Incom* fronl a￿d legAd Utrre$trlcted fullds CtLtral Totsl 2025 T¢Jt41 2024 Donations 8nd1¢8&CiC5' Donaitons to najtrr appeals 46,593 46,593 18,139 4 llltome from tharitsble aetlvttlos Uwrestricte41 ruDds CeDerAI Totsl 2025 2024 Gr¢enfi¢lds SchoDI Childr¢n's Hw5tNuryery Ett￿tIVe FAlucaiion C¢trtr¢ 1,180,446 1,180,446 1.695.092 105,595 ,907 33,106 33,106 ,213.552 1.213 552 1.893,994 S Subsidiary Intowt UDre8tricted fllDd5 Tot¥1 2025 2024 Trading Lnwmc. NewEale F8rnL rents receivéd 23,700 23.7 24,600 23,700 23.7(NJ 24,600 Page 26 Gr¢enfleld$ Educ4tlODal Trllst Not￿ to the Financial Statements for the Ye*r Ended JI Augugt 2D25 6 l•véstmÈttt bhto UDrertricted funds GtherAI TolAI 2025 2024 InicT¢S¢ reccivable and Similar income. Intcre5t re£eivable on b3nk deposiL 413 413 2,247 7 Otberiu¢Dlll* VDresfricted hrDds GeD¢r41 Tot*1 2025 2024 Rental income 8 Subsidiary Exptlldi￿ xl Costs of tradlot aethpitits UDrestrict¢d fund5 Totsl 2024 2025 Note Newga]e Fami optrating ¢osls 4,180 4.180 12,017 4,180 4,180 2,617 Page 27 Greenfi¢ld5 FAlucatlODJI Trnst Nole5 to the Financial Stalemeols for the Yeor EDded 31 August 2025 9 Exptrtditve OD ¢harihbk *¢tiviti¢s UDrt5trirtsd fllnds GtutNI O¢her funds Totsl 2025 2024 Notè are¢nfields School Children's Ho￿¢ Nur5Cry Effe¢tiv¢ EducatLOll Centre Dep￿latIon, ainDrtisaiion and oth similar ¢osts fjotrernancc rosts 1.557.866 1.557.866 2.080.589 189,696 47.768 47,708 I09,83Q (286.179) 179,739 {I(NS,44Q} 12.293 7.CI51 10 l 333 329 1513.068 14eo 413 10 ADalysi9 of govtrn•Dee •Bd yupporteosts Gov¢rnante costs Uurestritttd fund5 G¢BeTai Totil 1025 TotAI 2024 Sta(fcosts Wages and saJ¥Ji¢y Audil fe¢s Audit ofthe financial siat¢ments Other fees patd io auditot 2,881 2.881 2.749 5,962 3,450 5,962 3,450 6,388 12,293 V8ge 28 Greenfields Ed￿¢￿tiOn¥1 Trust Notes to Ihe FiDancial StAttm¢nts for the Year End¢d 31 A￿ll$t 21125 11 Net lll¢omi•gloulg(ki•E w¢8oiir¢¢i N¢1 outgoiEJg rv50ur¢es for Ihe year in¢lude'. 2025 Audit fces Other nonvaudil Services Loss on disposal of fix¢d L3%L3 held for the £harity's own Depre£ialion of asse 5962 3,450 1119,739) 13.298 6.388 4,100 17,0001 14.061 12 Tru5tces rt]Dull¢rAtIon ADd txptlh8e$ No t￿ste£S. nor aNy persons ¢onnettsd with Iheto, have received any renJuDeJ*ion from th¢ 8TOUP during thtyw. No Irustses ba¥e teetived atty reimbuTsed ¢xpenses OT any oth¢Fb¢D¢fits from the charity during the year. 13 Stsff tosts Theaggregate payroll ¢0Sts W¢T¢ as follows.. 2025 2024 Stgff eosts duriig iht year w¢rt'. Wag&q S￿arleS Swi81 s¢curity costs Pension costs 961,594 83,854 17.279 1.428,552 24,813 1.062,727 ,563.538 Th¢ monthly dverd8e nll￿ber ofpeTh>n5 (includin8 senior mana8ement I Itadership *aml employcd by the rhwiry during ihe ye8rwas as follows.. 21n5 2024 Charitiable activities 46 76 46 76 Contri￿110￿5 lo the emplDyeB pcn5ion 5chuncs for they￿ i(ts]led £17,27912024. £24,113). TheJ)umb￿ ofemployees wh05¢ ¢molum¢nts fell ivithin the followin8 bands w￿.. Page 29 Gr¢¢Jbfields Educatio*al Tru5É Not¢s to the FiThAncial Ststement$ for the Year EDded 31 AuEUSt 2025 2025 2024 £60.001- £70,(h)o The knial employe¢ t¢n¢fjts key management personnel of Ihc group w¢re £138,387 (2024-£181,3901. 14 TaxAtIoD The group is a registered charity Bnd is therefort exempt from14xation. 15 '1'¥tt8lblt fixed gsstts Grollp *#d and ¢quipiiieDt Tot*1 Cost At 18eptem￿r 2024 Additions Inherited ass¢ls 6,330.275 366,946 1733) 6,697,221 (7331 {570,000) {57Q.0001 At 31 2025 5,760.275 366,213 6.126,488 D¢preclatlo At I Sep*mber 2024 a)ar8e for the year 335,714 13,298 335,714 13.298 Al 31 Augll5t 2025 349,012 349.012 book w*lue AI 31 August 2025 5.760,275 S,777.476 Al 31 Augusi 2024 6,330275 31,232 6,361.5 Pagt 3 Gree￿fIeldS Educatio￿1] Trus¢ Not¢8 to the Financial Statetnetsty for the Year Ended 31 August 2025 ch￿MY Furniturt equipment bulidillv Total Coyt Ai I Scptember 2024 Addition5 Ittheriicd &55Cts 6,33Q,275 366,946 {733) 6.697,221 1733) (570.000 570.0 At 31 Augusi 2025 5 760 275 366.213 6,126,488 DepreciatlOD Al I Septcmkr 2024 Chawg¢ for th¢ ye8r 335.714 335.714 Ai JI August 2025 349,012 349,012 Ntt botsk val¥e Ai 31 Augosi 2025 5,760,275 17,201 5.777.476 At 31 August 2024 6,330,275 31.232 6,361507 l6 Flxed *8set thvtt*meknt$ Chgrity Sb•re5 ID group undertakiny #ttd parlitip•tlllg illtertsts Subsidiary undertakin Totsl 2024 Cost Additions At 31 Augusi 2025 Net bookvalut Ai 31 August 2025 Pag¢31 Gre¢nfield$ Educational Trust Notey to the Financifil StateThents for the Ye#T Ended 31 Augujt 2025 Ikt#iis •(uDdertakings tkiails of the inv&%tments in whith thc Gharity holds 20% or more of the ]M)minal value of any Gla55 ofshK¢ capi¢ aTe 4$ follows.. CoDThtry of Incorporation ProportloD of voting ri%bts Prinelpal attd Sknar￿ held ttivhy UMdtrt¥king 202S 2024 Subsidiary ￿￿d¢rt4￿JjrS Other letting nd operating of o%vn or lea*J r¢ N¢wgale Farni Coitages Limited Ordinary Sharc 10(w/ i(x)% England and Wales Subsldtsrles All propErfic8were rcntrd and still were uthil the 58k ofproperties )x)st yeaT¢nd in November 2025. 17 Stoc CTharity 2025 2024 202S 2024 Sw¢ks 12.362 31,196 J2,362 31.196 Pag¢ 32 Greenfields EducatioD81 Trust Notes to the Fittan¢ial Sthtements for the Year L￿ded 31 AuguAI 2025 18 Dtbtors Gromp Charity 2025 2024 2025 2024 Tradr d¢i*orJ Prwmtnts VAT re¢overablc Bridging 86.747 68,079 4,190 300,00 82,416 27.563 86.747 68,079 4.19) 3(K),000 459,016 82.416 27,563 459.016 109.979 109.979 Group and Charity d¢btors includes £210,IY)0 (2024.. £Nill r¢rcivable aft¢r more than one year. Ths has arisen from thc sai¢ of Railway Approach Prope￿¢5 being sold and pr￿eeth received as & tDiX of casb and A bridging loon over 44 moTrtKs from May 2025. CbaTIty ZOZ5 2024 2025 2024 BridRiD8 Loan 210,(X)O 210,OOQ 19 CAsh tasb equivJLlents Group CltDrlty 202S 2024 2025 2024 Cash at bank Short-*rm deposits 4,992 5,499 11,620 2,494 5,499 2,494 10,498 14,309 10,491 Pag¢ 33 Gretnfields Educational Trust Notes to the FiDan¢ial Sthtements lor the Y￿r Ended 31 A￿g￿$t 2025 20 Crtditom: aJllOllllt$ fgljing dut wlthlkn yeir Group Charity 2024 2025 21124 Bank ltsans Trade ¢redili)18 Other loatt5 Duc to group undertakinBs Other taxation alld social 5¢writy Othcr (Tediiors ACc￿3]S ￿¢(¢￿ed hn¢ome 52.645 193.fy15 51&308 46.239 185.428 220,0 52.fv15 193.(42 518.308 10.340 17,984 25.744 46239 185,427 220,￿0 10.034 58,118 90,829 9.888 17.984 28,019 18.621 449 93,104 449 829 671 620,729 829,653 620.535 Otber borMwiDg Thc other lo•n secured by a leEal Ch￿8¢ ov¢r th¢ freehold business properly., New8￿¢ Fann. Priory Road previous fina￿la] y¢3r elld1nK2￿24. The loan repaid in during 2025 with intErt%t Charged at £50rM) (2024- DIII. Other loans reccived in thc Ye￿ but not 5e¢ured have awru¢d inEeiest ot'£24,807 within 2025, with & balance oe £518,308 al 315¢ Augusl 2025 and have been repaid after the fTtsm salc of Ncwgaic Prop¢rtie8. 21 Credltofs: #lhVJllllt$ f*lliryE due aftÈroDè yÈAr Croup CJt*rtty 2025 2024 2025 2024 Bank loans ,238,373 1297.425 123&373 1297,425 CILArity Includcd in th¢ crditors are tbe following amounts du¢ after more than fjve yeaTS.' 2025 2024 After moTe Iharj live years by inst￿l￿ents 1045,114 Page 34 GreeDfi¢ld5 Edu¢4tloD41 Trust Notes to tbe Financial StatemeDl$ for th¢ Y¢&T Ended 31 August 2025 Bajth HDd overdraft5 after five y¢8rs At th£ year ¢fK1 the Tn￿ ¢wo loans with hvo separate banks. L(KD 1 3nd Loan 2 include security held on different properti¢s. Low> I taken in Au8USt 2019 to purikne Newg91e Fa￿ ond is Secured by a leg81 Charge over (he freehold business property., Greenfield% Schwl, Priory Road. The loan is over 25 years with a ￿Trau d¥aw dowtt iaken in 31sE Au8iLqt 2019 fi[￿claI year end, then thc m8jority of loan was dra￿1 in 2020 financial year whEn the purchase wa5 Compl￿tIl. Interest ts charged al 2.50% abov¢ ba5E Tate, with a total itilUESi tharge for the year amounliDg 10 £85,41412024.£95,4291 Loan 2 i5 from 2018 over 10 years and is Secur￿ by a le8aL Charge over the fre¢hold bu$in¢ss pTop¢rty', 59 Rwlway AFvro3th. Interest is Charg￿ at 3.67V• above l>ase rate, with E lotsl Inte￿￿t charged for fh¢ ycar amounting io £10.258 {2024- £12,623}. 22 Olplig4¢Io￿5ulld¢r kases and pY￿bast eontr8tts Th¢ rvtsl valu¢ of fuiwe minimum le￿ pay]]*nts was a% follow$'. Group alarity 2025 2024 2025 2021 Wtthinone year In two EO fJv¢ years {25,7071 51.415 (25,7071 51,415 {25,7071 125,707) 102 829 Page 35 Grttnfi¢kJs Edueational Trust Notey to the Finallcial Stalemellts for the Year Ended 31 August 2025 23 Funds GroBp Balllllte at I September 2024 lts¢o]nittg rt50ur¢¢$ Rtsour¢¢$ ¢ApÈnded BilaD¢e at JI August 2025 UDwt$t]Ic¢ed fu￿￿$ Gthtr¢71 fund .460,252 1.289,458 11,430,119) 1,319.$91 Desiglluled Nor]nan L¢wis de8iEllat¢d [￿d 24Q,2112 87,129 153,153 TDtxl fuwd5 1.7(K),534 I,￿9,458 1,517,248 1.472,744 Bjlallce ¥t I Stpt¢mbtr 2025 ResDurc¢x txpeDded BaJau¢¢ At 31 August 1024 resourc UDre51rkted encrti fuNJ 1,802,106 1.973,78 {l315,6341 1,460,252 Nomian L¢wi5 dtsignated fund 337,678 97.3961 240,282 Totgl fund3 2,139,784 1.973,780 12,413,030) ,700.534 P4ge 36 GTeenfield$ Eduealional Trust Notej to the FiJ)aD¢ial Stattrnenty for th¢ Year Ended 31 August 2025 Charity Bolalltt at I Stptembtr 2024 ResoMr¢es expelldid Baiallce at 31 August 2025 resourets Unre5¢ri¢ted fund5 General General Fund 1,460,252 1,285,278 ,285.278 11,425.937) 1.425.937 1,319.593 1,460,252 1319.593 Norman Lews designaied fund 24Q,282 240,282 187,129} 153,153 187.1291 153.153 Totsl 1.700.534 1,285,278 1.513.066 1,472,746 BalaDC¢ ¥t I SEPttwbtr 2023 IDtOmiDg resourc¢s Rt5trurets expended Balallte at 31 Augu$t 2024 Unrestridtd fund$ Generul General Trund ,802,106 1,961,163 12.303,0171 1,460.252 Norn)an L¢wis dEsi* fijnd 337.678 197.396 240,282 T4JtAI fund$ 2.139.784 1,961,163 24110413 1.71JO,534 Tht JFGif)c purp03e3 forwhich the fun(ts art lo be applied as follow8., Nomjatt Lewi% desigm>J fvnd is monie5 gifted lo Greenfields School for Ihe general PU￿05¢5 of the charity and the (I￿rity has decided ￿ use li to ￿[ther develop the s¢hool's iDfa$trueture rtiher than (he day io day runDln8 of the school Paze 37 Greenfi¢ld$ Edu¢atiollAI Trust Noteg to the FiDanci41 Ststements for th¢ Y￿r Ended 31 August 2025 24 Allalysts Dfllet as#ts b¢tw¢¢n funds Group Total thuds It 31 August 2025 Unrestricted fundy GeDtr•l D¢$igtt*tsd Tatsgible r￿ed &%sets Currenr assets CU￿t￿t liabiliii¢5 CTcdit05s over l y¢ar 5.77A499 329.700 1829.6711 1,238.373) 977 152,176 5,777.476 481.876 {829.671} 1,238.3731 Tts1￿ net ￿ets 4,038.155 153.153 4,191,308 Totsl lunds It 31 August 2024 Ullr¢slri¢ted fulld$ GtDtYal Tangible fLKed assets Cw[e￿l a8se Cutrent li8bdities Crcditors over l year 6,358,815 (82,106) 1620.7291 1.297,425 2.6 237,590 6.361,5Q7 155,484 1620,7291 1,297,425 4,598,837 Tot￿ nel assets 4,358,555 240,282 Cb*rlty Totsl funds 9t 31 August 2015 UDrestrirt¢d furtds GtD¢rg1 De$igD¥ted T)ngible fixed ass¢is Fixed asset investmen Current assets Curr¢ni liabiliti Cr¢dilorts over l year 5,776.499 977 5,777,476 329.693 1829.6631 ,238,373 152,176 481.869 1829,6631 l.238.373 Total neL&s*ts 4038 157 153 153 4 191.310 P8ge 38 Greenfield5 Edutxtinnal Trllst Note8 lo Ibe FiD#iiei*l Statements for tbe Year Ended 31 August 2025 Totgl al 31 Augu51 2024 Uthrtttrict￿ lknnds G¢neral Designated Tgogible fixed assets F￿ed &set ItiV￿t￿e￿ts CuTteni osse(s CurT¢nt liabilities credito￿ over l ye4r 6.358,815 2,692 6.361,5fr7 182,5011 1620,5351 1,297,425) 237.590 155,289 (620,5351 1297,425 Total DEt 4.358,555 240.282 4.598,837 25 Rtl&ttd p#rty tr&￿$￿¢tIONS Group During the ye4r the group made the following relaied party tr4twction5.' NewE2le F*rJtt Cottages Llmlted (INewgale Fatm Collag￿ Ltd is a wholly own￿1 subsidiary of GreeJJfi¢ld8 EduCa¢ion￿ Trust Ltd. Both entilies have g direclur uj ciKnmon", Pel¥r Hollkin. I Newga]e Farth Collages rent out the properties owned by Greenfields E4uuiion31 Trust on liceTrc¢ whilst ￿t￿ertaking Ibe ru]Jning and MaInten￿Ce in doing so. AJ)y profits rcalised aje 10 bc donated lo the paTertt,' Oreenfiel(ts EducaiLtsn￿ Trtjsi. 2023 was the f￿5¢ lime NeWE￿E Fatrn Coiia8es LLd made a profit. now propertics ar¢ r¢furbished and rented $0 £19,520 was paid 10 parthl charily fjreenfields Educational TN5t ￿ a qualifying GIA Aid Distyibulion, a]ong wilh £1 1.983 in 2024.1 Atth¢ bdanc¢ she&t date the a1n0￿1 due to New8ale Fann Cotl8ges Lirniied was £10.34012024- £10,034). Greenfields Educatloll T￿￿t ¢wploy¢es 'ni¢ Hoadma51cr ofGrronfi¢lds School w¢upied one ofthe PT0￿rtIeS ai N¢wgal¢ Farni rent fr¢¢ to enable him to p¢rfoTrn his dulles Onsi￿ and ¢ompris¢5 part of hi5 i¢rnuneralioll paGkagc. Anoiher employec also r¢c¢iv¢d ]rduced rent in recogDition of ad￿]￿1$1￿1lon of Ncwgale Fgm undertak£n. Both of these arianBemettts had c¢a5¢d by 3 1st August 2024, as ¢mployee$ had left Grt¢nfielth school. The￿ ha$ been no IrdDsactions of this kittd irt the fLttan¢ial year 10 31st Augu512Q25.. Al the balance shett date the a￿(￿j￿1 duc idfrom Grccnlield3 Education Trust cThploye£s was £Nil {2024. £Nill- Cbarity During Lhe year the charity mad¢th¢ followi￿ itl&*d party Iransaciiorns.. Stlkool Fe TLwsl¢cs Calcioli and McEnlyre have childTen aitending the s¢hwl at agreed ratcs that ¢tsmply th¢ sGhool ftt PD11￿. Atth¢ ba]ance sheet dale the amount due 10 School Fees w75 £7,93612024- £3.2911. P#¥e 39 Gree￿rIC]d3 Edueational Trust Notes to the Fin#nci&l Statements for the Year Ended 31 August 21125 26 Off-b41ottte sbttt Arrangemtllts Gr¢¢nfields Edutatiottal .1 rust 501d Newg¥l¢ Cottages properties uj NoveDJber 2025, 8nd the subsidiary NeW8￿e Farm Cotiagts Lid ceaged trading. Page 40