Reglstered number.. 01901401 Charity number.. 291913 KINGDOM EDUCATION LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
KINGDOM EDUCATION LIMITED IA Company Llmlted by Guarantee) CONTENTS Page Reference and Admlnlstrative Detalls of the Company. its Trusteés and Advlsers Trusteos. Report 3-14 Trustees, Responsibllltlés Statement 15 Indépèndent Audltors. Report on the Fln8nclal Statements 16-19 Statement of Flnanclal Activities 20 Balance Sheet Statement of Cash Flows 23 Notes to the Financlal Statements 24-40
KINGDOM EDUCATION LIMITED IA Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Trustees A Farahat, Chair of Trustees, Safeguarding Trustee C Hammond, Pastoral Trustee C Ottaway, Deputy Chair M Skipper. Trustee & Company Secretary C Chalkley, Legal Advisor, Property & HR T Johnson, IT (resigned 16 March 2026) J Anjo, L8gal (appointed 22 September 2025) S Woolmer, Projects {appoinled 16 March 20261 Key Management Personnel A Reeves, Headleach&r. Appointed Deputy Designated Safeguarding Lead IDDSL) 1 Sept 2025 E Taylor, Bursar, HR, Premises, Appolnled Data Protection Officor IDPOI 26 January 2026, Mental Health Lead-slaff S Case, Manager, Highfield Preschool J Townsend, Deputy Head S Hart, Head of Secondary C Edmonds. Appointed DSL 17 July 2025, Resigned 28 Feb. 2026 J Towns8nd, Deputy Htsad M Cracknell. Head of Primary, Appointed 1 March 2026 J Judson, SENCO, Appointed lo SLT 25 Jan. 2025 H Lees, Deslgnaled Safeguarding Lead IDSLI, Resigned 31 August 2025 G Oduro, Desionated Saf8guarding Lead IDSLI. Appolnled 1 March 2026 01901401 Senior Leadership Team Company registared number Charity reglsterad number 291913 Rag15tered offlce Elmfield Ambro8e Lane Harpenden Hertfordghira AL5 4DU Company secrotary M Skipper Independont auditors Haslers Chartared Accounlanls Old Station Road Loughton Essex IG10 4PL Bankers National Weslminlsler Bank 72174 High Slrèel Wafford H8rtfordshire WDI 2BQ Page 1
KINGDOM EDUCATION LIMITED (A Company Llmited by Guarantee} REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Sollcltors Anthony Collins Solicit8 LLP 134 Edmund Street Birmlngham B3 2ES Veale Wasbrough Vizards School Fee Recovery Scheme Narrow Quay Hou88 Narrow Quay Bristol BS14QA United Kingdom Page 2
KINGDOM EDUCATION LIMITED IA Company Limlted by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Diréctors and Charity Trustees (the 'Trustees"l of Kingdom EdLJcalion Limited are pleased to presènt their report together with the audited financial slalements of the charity for the year lo 31 st August 2025. The flnancial statements comply with the Charities Act 2022, the Companles Act 2006, the Memorandum and Ariicles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice ISORP) applicable lo charities preparirbg Iheir accounts in accordanGe with the Financial Reporting Standard applicable in the UK IFRS 102) effective 31 January 2022. The accounts comply with the charity's trust deed and applicable law. The Trustees note that the Charities Statement of Recommended Practice ISORP 20261 is expected to apply 10 accounting periods beginning on or after 1 January 2026. The updated SORP introduces a tiered reporting framework and other revisions to enhance transparency and proportionallly in financial reporting, Based on the charity's current annual income, Kingdom Education Limited is expected lo report under Tier 2 of the new framework Ifor ¢haritles with income between £500.000 and £15 million). The Trustees will review the detailed requirements of SORP 2026 once flnalised and ensure the necessary changes are Implemented in future reporting periods. Trustees, Re ort for the ear ended 31st Au ust 2025 Kingdom Education Limited is established primarily to promote, provide for and assist in the advancement of educallon of childran in the United Kingdom and elsewhere. At The King's School, we see the development of the whole Gh15d, physlc&l, spiritual and emolior¢al as being important. We seek lo develop ability and character. BRIEF HISTORY The King's School was established In Hemel Hempstead with 75 pupils in 1982 and moved lo Harpend8n during 1987, The Current premises, leasad from Action for Children, are situated in beautiful grounds on the outskirts of Harpenden. The Trustees and S8nlor Leadership Team of Klngdom Education Limited maintain that The King's School 8nd Hlghfield Preschool offer a service to the Christian communlty.. we seek lo give our childrell arn excellent education, enabling them to develop academically, grow in character, discover their worth and achieve their polenlial. This is made possible by small class sizes, dedicated teachSng staff and outstanding pastoral care, underpinned by our School values, The King's Sthool Way. The King's School Provides 8 Chrisllan leaching environment. Our vislon Is lo partner wtlh parents in supporting them in helping their Ghlldren know God and be well prepared for His future for them. In doing so, we share with parents in the privilege of helping pupils dSscover God's plan for their lives. We are very proud lo offer this unique service to the Christian Communlly. STRUCTURE GOVERNANCE & MANAGEMENT Th8 Trustaes constitute the Board of Trustees of Klngdom Education Ltd, servlng both as diractors of the registered company and as Iruslees of the reglstered charity, Trustees are appolnted by elècllon by the Board and may cease to hold office through regignatlon or, where appropriate, through due process dètermlned by the Board. Page 3
KINGDOM EDUCATION LIMITED (A Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The Board of Trustees Is responslble for the governance And admlnistrallon of Kingdom Education Ltd, ensuring that all statutory obligations are mel, ir¢cluding compliance with the Independent School Standards Regulations. In addition, the Trustee8 provide strategic oversight of The King's School 2nd Highfield Preschool, maintaining particular focu8 on the qualily of leaching and learning and the progress achieved by pupils. The King's School, shares the registered office address, provides education for boys and girls ag$d 4 10 16 y&ars, up lo and including GCSE examinations, and has an approved capacity of 225 pupils. Highfield Preschool completes the provision as an Otsled-registered Earfy Years Foundation Stage IEYFS) setting. accommodating an average of 40 children aged 2 10 4 years. The Preschool operates from prtsmises a short distanc$ from the main school sile al the Youth With A Misslon IYWAMI base. on The Oval. Ambrose Lane. 11 is registered wllh the Department for Educalltsn as a Private. Voluntary and Ind6P6ndent {PVII nursery. The Tlljslees are responsible for setting the School's values and determining ils overall strategic direcllon and policies. Responsibilily for the day-lo-day management, leadership and culture of The King's School and Highfield Preschool is delegated lo the Headleacher, supported by the Bursar. The Trustees exercise oversight of Ihe School's financi21 affairs, ensuring ils ongoing viability, and have the authority to make investments in accordance with ils Articles of Association. During the year, no Trustee individually held any beneficial ir¢leresl in the charity. The Headleacher provides ovorall leadership across educational, pastoral and administrative functions, working in consullalion with the Senior Leadership Toam. Trustees oversee succession planning for senior lead8rshlp and Board members. The Headle8cher. Deputy Head and Bursar attend Trustee meetings and contribute lo governance discussM)ns. The Senior Leadership Team is completed by the Preschool Mar¢ager, Heads of Schools, the Design8led Safeguarding Lead with the SENCO, Mrs Jane Judson, as a recently appointed membef in January 2025. Safeguarding, health 2nd Safety, and the promotion of mutual respecl underpin all aspecls of school Ilfe. The Trustees receive regular safeguarding reports from Mr Ashraf Farahal, Safeguarding Trustee, who worked in liaison with Mrs Colleen Edmonds {Design8ted Safeguarding Lead and Head of Primary). Trustees also undertake annual health and safely audlls, reviews of the Single Central Register, and oversight of the Risk Register. The operation of Ihe Preschool, Primary and Secondary schools is conducted within policies approved by the Trustees. All sigr¢ificanl expenditure and capital projects require prior approval from the Board. The Headteacher. supported by the Bursar, leads the recruitment of all staff and support the continuing professional development of leaching staff. The Trusloes are responsible for the mar¢agemenl of risk w¢lhin the Charity, with a focus on maintaining effectiv6 internal controls ané appropriate miligalion strategies. They are satisfied that systems are in place to Identify and address the principal risks. Governance information is shared via the TrL¢Stees Hub and Policy Portal on Microsoft SharePoinl. They also monitor business continuity, and oslate development. includlng envlronmenlal su5talnability inilialives, while supporting extracurricular and 6nrichmenl opportunities, pastoral care, and pupil wellbeing. enSring that all asp8cls of school life phOld the Schts)I's values and ethos. In addillon to operatlonal oversight. the Trustees are responsible for the School's long-lorm slraleglc plannlng and development, including the formulation and monitoring of the Sch(N)I's Vision. Mission and Values, delegallng the School's Development Plan to the Sonior Leadership Team. Page 4
KINGDOM EDUCATION LIMITED IA Company Limlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Govemance accountability is maintalned through regular board self-evalualion, skills audits, and induction and trainlng for Truslees, alongside engagement with stakeholders including parents and the wider community and onsure that all aspects of School life uphold the Charity's values and ethos. The School's Risk Register is submitted annually to the audilors, Haslers Accounlanls. OBJECTIVES & ACTIVITI The King's School provides a broad curriculum with an emphasis on "The King's School Wav. lo meel the Charity objectives.. Klndness Helping and r6SP8Gling others, whoever they are Integrity Doing the right thing, even when it's hard Commltmant Giving our best in every situation Togethernass Playing our part ill tha school family Growth Becoming the best we can be Thankfulnèss Being grateful for all that we are given Faith Honouring Jesus Chrfsl in all we do., The foundation ofThe Klng's School Way These are values whlch we encourage in our PLtpiI's work and relationships al The Klng's School. The Trustees and Management Team of Kingdom Education Limited maintain that The King's School an Highfield Preschool provide quality academic preparation in an environm8ril which contlnues the Christian upbringing which has begun al home as a service to the Chrlstian community. The Klng's School is non-seleclive and aims lo mairltain high academic achievement, wllh pupils maximlsing Ih8ir potential through small class sizes (maximum 221. We offer an academic {subjecl-basedl curriculum structured across the Primary School and the Secondary School and, by allracling teachers who are p28sionale educators, we demonslrale oulslanding pastoral care, complemented by knowledgeable st8ff in their particular fields, It is Management's policy to 88SlSt children in developing thelr p8rson21 spiritual walk with the Lord. This expresses itself In class and School assemblies. Bibl8 study and pastoral care, in addition lo opportunities to travel locally and abroad to wilness in SGhools and churches. Page 5
KINGDOM EDUCATION LIMITED {A Company Limlted by Guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 The Company objectives for the coming year are as follows.. To maintaln the high curriculum standards that have been sel in academlc and spiritual terms in recent years by maintaining staff levels in numeric and quality terms. To secure, equip and develop excellent professional teachers while promoting inspimtional teaching with the assislance of compelont support staff. To pursue a high level of enrolment by means of porsonal recommendations ar)d by effective word of moulh advertising and inlernel marketing. To improve facilities on the school sile. OLtr objectives are addressed on INSET Days and through enrolling teachers for professional development courses, and by effective tracking of the academic progress of our pupils. We endeavour to promote pupil enrolment through Open Days, our School website, advertising in loe21 Media and by encouraging 0r parents lo promote the School by word of mouth. The Headleachgr meelg wllh local pastors lo build links with local churches their congregations. who fomi the bulk of our potential intake. We also maintain and develop good relalionshlps with local ministry groups. The Highfield Preschool actively promotes enrolmenl al The King's School. In developing the sile and facilities, we work In close cooperation with our landlords, Action for Children. In addition, the School funds development projects through fundraislng. 11 is a primary slm of our School that every member of the school Gommunily reels valued and respected. and that each person is treated laidy and well. We are a caring community, whose Christian values are bas6d on mulual trust, consideration and respect for all. The School has a Cod8 of Conduct, bul the primary aim18 not lo enforce a system of rules but rather lo promote good relalionships, by encouraging positive altitudes, so that 8veryone can work and learn together in an effeGllve and consid6rale way. The Klng's School was subject lo a full EQI and Compliance inspection by the Independent Schools Inspeclorale IISII in February 2024. The school was found lo be compllanl in all areas, with a long list of positive findings by the inspection team. There were three areas for development identified. as detailed in the blished report, which is linked on our webslle. Hlghfleld Preschool is very well subscribed and renowned wlthin the wlder Harpenden community. 11 is staffed by a compelenl Manager wlh very capable group leaders and support slaff. The Highfield Pre8Ghool continues lo delivar a hlgh standard of s8rvice lo th& Gommunily and had an 'Oulstanding in all areas, rating for ils Otsled Inspection in January 2020 and again more recently in September 2025. Pupil places are in high d8mand at the Preschool which has remained near capacity enrolmenl in recent years. The sterling work of the staff has seen 8 Gonlinu8d development of the product offered,. PE classes in the curriculum are a unique feature for our Preschool and benefits all our proschool pupils. We commend the an8g8r, Mrs Sandra Cas8 and her Team for their excdlenl work. Page 6
KINGDOM EDUCATION LIMITED IA Company Llmlted by Guarar¥tee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS & PE FORMANCE Pu 11 Numbers and Fees Our educational provision is delivered through both the Primary and Secondary Schools. Al the close of the academic year 2024-25, we had 171 pupils on roll. a similar figure lo the previous yearfs 175. The longer term trend remains positive though with healthy classes in the Primary School, and we have recruited well across the 2025126, meaning Ihat the year to come is likely lo see growth overall, rather than a dectine in number8. The school fee Structure was viewed in 2021 as part of Project 212. Fees for the 2024-25 academic year were increased by 5.50/0. During the school year, parents faced a further 20tyA increase with the fees becoming sublecl lo VAT from 1 January 2026. Academic Achievem8nts The School's academic achievements Gonlinue lo reach a high standard. A full attainment and progress report is published each September on the school website, The summary for the 2024125 cohort Is.. 43¥0 grade 7-9 85010 pass rale {grade 4 or above) 83°/0 of pupils achieved 5 or more passes. including English & Maths Value added score of +1.2 84 /v of CAT largel grades met or exceeded ecial Educatlonal Needs SEN The King's Schoo1 continues lo develop the provlslon within thè School's SEN Department, Jane Judson, our SENCO, liaises effectively with leaching staff and parents lo bring about the best outcomes for pupils across the Primary and Secondary Schools, including one pupil with an EHCP. Extra-currlcular Actlvltlos The school has an extensive sports and music programme, plus a range of clubs available al both lunchtime and after school. Highlights of the 2024125 year included.. One of our Table Tennis teams reaching the seml-finals of the National championshlps, an outstanding achievement for 8 school of our size. A new r6sidenlial trip for Years 5 & 6 to 'Rock UK, for a week of outdoor 8clivilies. Summer concerts in both Prlmary & Secondary which showcased our pupils, musical talents. Another successful exchange with a small Christian school in Switzerland, which 18 developing into 8 strong and fruitful link. Our annual Christmas party for local senior citizens, which was well attended once again. PUBLIC BENEFIT The Truste8s have respected the charitable slatL(s of Kingdom Education Limlted and have taken due account of the guldanc8 on public benefit published by the Charily Commission. The School operates a slruclured fee sth8dule, complemented by financial support, lo ensure that Ghildren whose financial circumstances have changed can continue to access a high-quality educallon, and to support those whose families might otherwise be unabl8 lo afford independent school fees. Page 7
KINGDOM EDUCATION LIMITED IA Company Limlted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 The King's School operates financial asslslance through Ils self-funded Bursary Fund, by foregoing school fee Income. The School currerklly offers Ihis support lo a number of families who have suffered short lo medium term economlc setbacks and lo a lesser exlenl lo new pupils. The funding laryel fluCtaleS annually bul is sel around 100/0 of the Charity'5 gross fee Income. Of course, parents, needs for bursaries flucluale annually, thereby affecting the level of fee income. This strategy runs coneurrenlly with the School's policy of keeping fees affordable in order lo remain accessible to as broad a section of the Christian community as possibl6. The School provides this financial assistance school fees, individually tailored to parental needs, usually ranging from 00/0 10 1000/0 remission of fees. Details of Bursa Fund In the financial year 2024125. the School offered support through the School's Bursary Fund, in the amount of £188,079. Bursaries were awarded for 15 families lo benefit 33 pupils - as against £161523 supporting 17 familias and 34 pupils in the previous year. Bursary sUPPOrt has remained substantial lo ensure that families experiencing financial pressures - such as tising living costs, inflallon, and constrained household budgets - can conllnue lo provide th61r children with a¢sS to a high?qualily education. Bursaries are normally means?lesled and reviewed annually. other Policies of Assistance Fee Policy The School endeavours lo keep our fee structure as affordable as posslble in order to remaSn accessible to as broad an economic spectrum of the Chrislian community as possible. This d068 ther¢ necessilale vory careful budgellng and spendirkg aonlrol. Feés are invoiced termly. Parents are reqLtired lo sellle f88s in advance on the first day of term. Allernalively, fees may be paid in advance by payment of 12 equal monthly inslalmenls by direct dtsblt. not exceeding 4 payments p6r term. Bad debt collection is actively managed lo miligale the Impact on cash flow, supported by ongoing monlloring of outstanding fees, structured credit control proce8ses, and eady intervention procedures lo reduce the risk of non-payment and protect the School's financial position. Famlly Discounts Polley The School offers a discount to famllies with more than one child enrolled. reflecllng ils commitment lo supporting its community. The School. through ils published School Fee Schedule, applies a 200/0 discount lo the second child, 40D/¢ lo the third, and 50Q/o lo any subsequent children. Addllionally, a 1 OOA discount is avallable lo membars of the clargy. Staff School Fee Remisslon To allracl and relain high-calibre staff, the School provides a fea remission scheme for employees who choose lo educate their children al the School, reinforclng both staff engagement and the value placed on our school community. Prlvata Healthcare Staff Schern In ils fourth year, staff hav6 benefited from a complimentary Pfivale healthcare sch8me, which provides acc8ss lo a 2417 GP helpline, self-referral for mental health support and physK)therapy se&sions, and olhsr healthcare s8nJices. Page 8
KINGDOM EDUCATION LIMITED IA Company Llmited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 In the Communlty As outlined in the Extra-curricular section, the School participates in, and hosts, a wide rat)ge of activilies that support and enrich the local communlly, and we continually seek new ways lo serve. Within the scop& of our resources, the School alms lo make a positive impact on the wider community. We also exchange educational support and extend spiritual supp)rt lo colleagues in other schools, invitirsg Christian teachers to join us for shar8d devotions twice each term. Alongside these initiatives, the School maintains a continued focus on eduGalional excellenca. ensuring that our pupils-and, by extension, the wider community-benefil from a high-quality learning experience. FINANCIAL REVIEW- 3108 2025 Incoming resources for the year ended 31 August 2025 increased by 2.7QA, from £1,628,590 in 2024 10 £1,672,719, following a decrease of 2.550/D in 2Q23124. The School ended the year wilh 171 pupils, from 175 in 2023124, compared with 186 pupils 31 the 2023 year-end, rellecling o slighl reduction in admissions over the longer term. Fee Income per pupil rose by 2.75010. despite the School implamenling a 5.5f*/a school fee increase for the year. The school also recorded a higher16vel of bursaries awarded, which lotalled 13.10/0 of gross schcx)I fee income, up from 11.5.10 in 2023124. The rise in bursaries demonslrales the School's commlimenl to providing continued access lo high-qu21ity education, supporting families In immedlale and ongoing financial need - within the Charity's public benefit oblig81ion. Overall, the modesl growth in Incoming resources reflects 2 combin81ion of stable pupil numbers, incremental fe6 Increases, and careful management of the Bursary Fund. helping to balance income generation with the SGhool's commitment lo supporting families where necessary. ResoL¢rces expended incre8S8d by 2.710/0 In 2024125, following rises of 16Vo in each of the prevlous two years 12023124 and 20221231- due to a combinallon of inflatlonary and statutory cost pressures- demonstrating the exlenl of the cosl-savings commenced in 2024125. Sllghtly lower pupll numbers and the conslralned fae increase in 2024125 Ilmilad the growih In income, insufiicient lo offset the increased costs. At the same lime, Staff costs, as the School's largest expenditure category, Increased primatlly as a result of statutory changes, including increases in employer Naiional Insurance conlributions land Ihresholdsl and the cumulative impact of a 17.2 10 increase in the National Minimum Wage over the past three years (April 2023 10 20251, which has affected both dlreclly employed staff al the lower end of the pay scale and those Immediately above it. These increases occurred despite no discrellonary pay awards being made lo staff for two consecutive years (since the 1Q/4 in 20221231. The removal of the 80, charllable business rates relief by the Government in April 2025 contributed lo Incr6ased costs and is expected lo place addltlonal pressure on future-year expendllure. Additional cost pressur8s arose from ulllities, maintenance, educational rasources, and prof8ssional services, alongside continued inv@slment in currlculum delivery and pupil support. While mulll-year energy contracts provlded soma protection agalnsl wider market volalillly. underlying costs continued lo rise. Th8 School implem8nled a range of ¢osl.saving measures during the yaar. which helped lo mitlgate some of these increases. Finally, it musl be noted that many of these additional Gosts could not have been passed on to par6nts in the 2024125 academic year, as the Impact of the 200k VAT introduced in January 2025 on them was already imminent when fees were sel in April 2024 - limiting the abllity to plan th8 recovery of costs through school f6es in 202415 and in 202516. Page 9
KINGDOM EDUCATION LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Taken logeiher, these factors oxplain the significant operational loss for the year, despite the cost savings and efficlency measures that were secured during the same period. Operatlonal losses recorded in 2024125 of £111,795 and in 2023124 of £104,366 were drlven by a combination of these faolors outlined above. The table below provides a summary of key financial and operational indicators over the past four years. This highlights the trend in pupil numbers, incoming resources, expenditure. and overall financial position of the School. Data il ,Numbers 2024125 71 2023124 175 2022123 2021122 186 167 Ineomin Resources ¢iided Nct Ex cndltui'e I IncoTne Net Assets Rcsouyeeg 1,672,719 1784514 111795 121 142 1628 590 1732 956 -104 366 232 936 1671273 1.493,961 177312 323 888 1,320 591 1336 588 146 577 During Ihe reporting period, the Charity has.. Carefully monitored 2024125 income and expenditure, in a light ffnancial environment, and ensured that financial largels wefft mel. Three-year energy contracts shlelded the Charity against energy inflation. Continued lo rèvlew and update the School's Risk Register, through careful rolling reviews. Set a balancsd consolidated budget for 2025126, w¢ih a modest 40/0 school fee increase, notwllhslanding a challenging financial and political environment. carefully controlling pgrformance agalnsl budget while seeking lo mltigale the impact of inflation and the slalulory changes effected in April 2025. Monitored the financial performance of Kingdom Education Ltd, and ensured that the Charity's resources were used appropriately to support the School and Preschool. IMPACT ANALYSIS The Trustees and school management have spent the last four years considering 'Vislon 2022,, involv4ng staff in the process, part of which is a focus on enabling a stronger financial position lo be mainlained. Wlth the final vision summary shared with the school communlty al our 40th anniversary celebrations in September 2022, trustees and staff conlirÈue lo explore how lo implement the Vision, part of which also includes our impact on the local, and wider, community. Corblinued improvement and marketing of the sch(xJl will pasiliv8ly affect its abllily lo sustain ils impact on the wider Christian community and lo relair¢ current puplls and attract new ones. The main priorities for the School's improvement and development are the continued professional development of our staff, maintaining the continued improvement of the physical facilities, teChnol(Y and sport provision, along with ensuring that all of our pupils make the best progress possible. These priorilias n8ed to remain in place, even in th8 contsxl of potentially necessary cosl-culling measures. We are exclled 8t thè potential for increasing the Chartly's impact on the wider communily, whlch th8 School'8 improvement and conllnued positive development, will facilitate, Page 10
KINGDOM EDUCATION LIMITED {A Company Limlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 GOING CONCERN During the year. the School recorded a deficit of £111,795 compared with £104,366 ill 2023124. As a result, net assets at the balanco sheet dale decreased lo £121,142 from £232,936 in the prior year. In assessing going concern, the Trustees have considered whether il remains appropriate to prepare the financial statements on this basis, taking into account the financAal results for the year and a range of foMard- looking risks and scenarios that COLAld affect future performance. This review included consideratlon of changes in pupil numbers, f8e income, and cost pressures such as staffing, ulililies, and other operating expenses. Scenario and sensitivity analysis was undertaken to assess the polenllal impact of different levels of incorne and cost inflation, as well as the School's ability lo respond through operational adjustments. The Trustees also considered miligaling actlons available lo management, including cost control measu8 and Improved effiuencies where required, once fee levels were fixed. Looking foward, continued linanclal sustalnability will depend on a combination of increased pupil numbers and future school fee increases, alongside ongoing cosl control arKI operational efficiency, In order to meet rising slalutory and operallng cost pressures. The long-term pi¢lur8 is 8 healthy one, despite Ihe current financial challenges that the recent budget imposes. The school finances are strongly linked lo pupil numbers, as the vast majority of Charily's income is through school fees. Due lo our changes to marketing and fee structure in recent years, we have recruited a healthy foundation class (Reception l Year O) for the last 5 years. Thls has meant strong classe5 moving up through the school for years to come. The intake for September 2025 looks healthy again, with another solid intake from our preschool, nol to mentSon any who come from elsewhere. The lamilies in these younger classes are acliV8 in school life, keen lo 'market' the school to Ihair friends and ar8 very happy with the service we are providing. In 2020 we launched Project 212, with the aim lo move from 148 pupils at that point lo 212 pupils by the end of Ihe 2027128 school ybar. This project was well ahead of schedule in the first 3 years, roaching 186 pupils in summer 2023, 19 ahead of the plan. In 2023124 wo look a hit of an unusual number ot pupils leavlng during the year across two secondary year groups (now years 9 & 101 leaving us with smaller than desired classes in these two cohorts. We finished the 2024125 academic year al 170 pupils, seven short of the 177 target. Numbers have settled, with no further loss, and we seek steady growth throughout this current academic year12025126). With a very full Primary school, which has grown from 59 pupils to 95 pupils during the last 5 years, the longer term picture Is very healthy as these luller classes mov6 up into the Secondary schoo5. With a smallish Year 6 class leaving Prlmary this summer. there is the opportunity lo grow by starting September 2026 with a larger Year 7 class. This will be dependent on good recruilmenl from outside of the school (we usually bring in about 10 pupils). Interest has remained steady bul again there are no guarantees of a large dass when it comes lo it. We'll need lo work hard at it in the coming months. We 8r8 working, with skilled voluntoers from our PTC (parent group), lo refresh and enhance our website, wlth the 8lm of generating increased Interest. Alongslde this, we are continuing to strengthen our presenc8 Within the local Christian community through closer partnerships with Churches and more tsrgeted promotional aclivily. Page 11
KINGDOM EDUCATION LIMITED IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Word-of-mouth reoommendation remair¢s our most effectlve form of markellng. For this reason, any necessary reductions In expenditure musl be carefully considered lo ensure they do not compromise the quality of our provision, as this could undermine the positive referrals on which we 80 slrongly depend, Cost savln Building on Ihg plans oulllned in 2023124, cosl-saving measures were initiated earlier than planned in the 2024125 financial year. These measures are expected lo continue into 2025126, with certain professional Services and external advice that the School utilises among Ihe expenses highlighted for reduction, The Bursar and Headteachor supported by the Senior Management Toam, continue lo review the School's expense budget lo identify areas where further savings can be made. While many of these reducllons are relatively sm211 Individually, collectively they contribute lo a meaningful over811 saving. Staffing remains the School's largest cost, and any adjustments in this area will be carefully considered and will depend on factors such as class sizes and pupil numbers across the dlfferent sections of the School. Our inllial projections suggested potential lolal savings of approximately £100,000. a portlon of which was realised in 2024125, with a further £60,000 anilcipaled in the 2025126 academic year. Rlsk Mana ement The Trustees mainlaln ovèrall responsiblllty for risk oversight, supported by the Senior Management Team. who embed risk awareness and control meaSUS within the School's day-lo-day operations. Risk is monitored continuously, with a structured review undertaken al least annu811y lo ensure that processes remain effective and responsive lo emerging challenges. Current risk oversight is organised across key operational 8reas. including safeguarding, pupil welfare. financial resilience, stsffing, site safely, educational activities. and communily engagement. In the period under review, particular attention has been given to the following areas.. Sustalning Educatlonal Quality The delivery of a high-qualily educational 8xperience depends on the School's ability lo allract, develop, and relain capable leaching staff, while supporting pupils th a wde range of needs and abilities. This is supported through careful recruitment, ongoing professional development, investment in facilities. and a bursary prog¥amme that enables continuity of education whe families face short-term financial pressures. Flnancial Stabllity and cOnnuitY Ensuring the School's financial resilience remains a central focus. Income continues lo be primarily derived from fees, making pupil recruilmenl and retention key priorities. Active financial planning, regular monitoring of cash flow, and access lo a short-term funding arrangement provide assurance that obligations can be met as they arise. Safeguarding and Community Confidence The School's reputation is closely linked lo the safely. care, arEd well-being of its puplls. Measures in place Include rigorous safeguarding Prodre8. thorough staff valling, strong pastoral systems, and a proactlve approach lo health and safety. These practices help maintain trust among parents and the wider community. The Trustees are Gonfidenl that the current framework for idenllfying and managing risk Is effective In addressing the most significant exposures facing the School. Nonetheless, they recognise that such systems are designed lo reduce, ralh8r than elimin8t8, risk, and Iherefore can offer reasonable bul not absolute assurance. Page 12
KINGDOM EDUCATION LIMITED IA Company Llmlted by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Flnanclal Mana ement and Com Ilance Maintaining financial stability remains a key priority for the School. alongside ensuring robust compliance with regulatory requirements. In April 2025, a potential risk of error related lo VAT was identified. Such errors could have financial or repulalional consequences if not properly mariaged. To address this, the School has sought lo strengthen internal controls by consulting professional advisors and has implemented regular reviews of financial processes lo ensure both accuracy and compliance with CLErrenl regLtlalions. FUTURE PLANS We continue Its take advantage of our uniqueness and plan to maximise our impact in the wider Christian community and lo keep our sch(K)l accessible to families. We aim lo bring famllies in at a young age and offer them an excellent 8chooS experience. such that they slay with us throughout their child's schooling. We sllll have interest from Hong Kong, with Christians there looking to take advantsge of their BNO vlsa status. meaning they can easily access work In the UK. The Trustees seek to continually develop the service offered to the school community In terms of the quality of leaching, th8 welfare and safely of pupils. further improved pupil progress and the pupil experience as they move through Ihe school in addltion lo the quality of the sile provlsion. W8 continue to strengthen our links with Ihe communlly. Develo m8nts and Maintenance The Trustees and Senior Management Team continue to revlew polenllal capital developments at the School, with careful consideration of priorities and fundlng feasibility. Any fullsre development will proceed only If sufficient funds can ba raised, as the bullding and maintenance of reserves remains a primary financial focus for the Chairty. The terms of the new lease will be crllical determinlng the liming, scope, and funding of any potential developments. Trustees are commilled to ensuring that any investment in facilities is in keeping wtlh long-lerm financial sustainability whlle supporting the School's educational mission. Reservo$ Pollc and Continult The Charity maintains reserves lo ensure financial slabilily, manage unfoieseen risks, and safeguard the conlinuily of operations. These funds provide 8 buffer agalnsl unexpected expenses, fluctuations IT) pupil numbers, or olher operal¢onal challenges. During the 2024125 financial year, the School recorded an operational loss which has led lo 3 subslanlial reduction in overall reSee$. Desplte this deGline, total reserves remain above the Trustees, largel level of £85,000. Overall reserves foll lo £121.141 in 2024125 from £232,936 in 2023124, with unrestrlcled res8Nes deeaSIng from £199,262 10 £85,981 by 31 August 2025. In the Trustees, meellng on the 26 January 2026, approval was granled for the wtential use of up to £50,000 of designated funds in the financial year 2025128 vla transfer to general funds should an income shortfall occur. Trustees intand lo replenish th8se designated funds over the next three to five years and achieve positlV8 mov8menl in reserves, énsuring sustainable operallons while maintaining transparent reporting. Page 13
KINGDOM EDUCATION LIMITED {A Company Llmited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 ReseNes are used prudently to support essential expenditure, maintain operational conlinuliy, and protect the long-term sustainability of the School. Decisions regarding the use of reserves are made carefully by the Trustees in Consultation with the Senior Management Team, balancing the neèd to safeguard the School's rinanci21 position with strategic investments in slaff, facilities, and key inilialives. The Trustees continue lo monitor reserve levels dosely. regularly reviewing both largels and actual usage. Improving cash llow from operating activities remains a key focus for the current year, alongside the contlnued management and replenishment of reserves lo strengthen the School's financial foundation. CLOSING COMMENT The Trustees recognise that, de8Plte the financial deficll recorded in the year, Kingdom Education Ltd. has continued lo operate effectively and deliver ils charitable objectives. This has been achieved through the commitment and hard work of tho Headleacher, Bursar, Preschool Manager, Leadership Team, staff, parents and pupils, all of whom contribute lo the ongoing success and stability of the Charity. DISCLOSURE OF INFORMATION TO AUDITORS Each of tho Trustees has conflrmed that there Is no information of which they are aware whlch is relevant lo the audit, bul of which th8 auditor Is unaware. They have further confirmgd that they have taken appropriate steps lo idenlily such relevant information and lo establish that the auditors are aware of such information. Approved by order of the members of the board of Trustees on 27 May 2026 and signed on their behalf by,, A Farahal Chalr of Trustees Page 14
KINGDOM EDUCATION LIMITED {A Company Limited by Guaranteè> STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The Trusl80s (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees. Report and the finan¢ial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees lo prepare financial slalem8nls for each financial Under company law, the Trustees musl not approve the financtal statemernls unless they are satisfied that they give a true and fair view of the slate of affairs of the Company 8nd of ils incoming rosources and application of resources, including ils income and expenditure, for that period. In preparing these financial slalements, the Trustees are qUired to-. select suitable accounting policies and Ih8n apply them consislenlly., observe the methods and principles of the Charities SORP (FRS 102)., make judgements and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards (FRS 1021 have been followed, subject lo any material departures dlsclosed and explained in the financial statements; prepare the financial statements on the going Gollcern basis unloss il is IrEappropriale lo presume that the Company will continuo in business. The Trustees are responslbl8 for keeping adequate accounting records that are sufficient lo show and 8xplain the Company's transactions and disclose with reasonable accuracy al any lime the financial position of the Company and enable them to ensure that the financial slalements comply with the Companles Act 2006. They are also responsible for safeguarding the assets of tho Coynpany and hence for 18klng reasonable steps lor the prevention and detection of fraud and other irregularities. Approved by order of tha members of the board of Trustees on 27 May 2026 and signad on its behalf by.. A Farahat Chair of Trustees Paga 15
KINGDOM EDUCATION LIMITED {A Company Llmlted by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF KINGDOM EDUCATION LIMITED Opinlon We have 8udlted the financial statements of Kingdom Educatlon Limil8d Ilhe 'charitable company'l for the year ended 31 August 2025 which comprise the Statement of Financial Activities. the Balance Sheet. the Statement of Cash Flows and the related noles, including a summary of significant accounting policies. The financial reporting framework that has been Fjpplied in their preparation is applicable law and United Kingdo Accounting Standards. InclLiding Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. IUni16d Kingdom Generally Acpted Accounting Practice). In our opinion the financial statements- give 8 Irtje and fair view of the stale of the chartlable company's affairs as at 31 August 2025 and of its incomlng resources and application of resources, Includlng ils income and expenditure for the year then ended., have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice.. 2nd have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conduoled audll in accordance with International Standards on Audlling (UK) (ISA8 {UKII and applicable law. Qur responsibilities under those standards are further described in the Audllors, responsibililias for the audit of the financial slalements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the Unlted Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these roquiremenls. We bolleve that the audit evidence we have obtained is sufficient 8nd appropriate lo provide a basis for our opinion. ConclusSons relating lo golng concern In auditing the financial stalemenls, we have corncluded that the Trusle8s' usa of the going concern basis of accounting in the preparation of the financial statements Is appropriate. Based on the work we have performed, we have not identified any material uncertainlies relating lo events or conditions that, indlvidually or collectively, may cast significant doubt on the charitable company's ability lo continue as a going Goncern for a period of al least twelve months from when the financi818lalements are authori8ed for issue. Our r8sponsibi111Ses and the r8sponsibililies of the Trustees with respect to going concern are described In the ral6vant sections of this report. Page 16
KINGDOM EDUCATION LIMITED (A Company Limlted by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF KINGDOM EDUCATION LIMITED (CONTINUED) Other Informatlon The other information comprises the informaliork Included In the Annual Report other than the financial slalements and our Auditors, Report thereon. The Twslees are responsible lor the other information contalned within the Annual Report. Our opinion on the financial slalemenls does not cover the other information and, eXp1 to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibilily is to read the other information and, in doing so, consider whether the other information is malerially inconsistent with the financial slalemenls or our knowledge obtained in the course of the audit, or otherwise appears lo b6 materially misstated. If we identify such material inconsistencies or apparent material mi581alemenls, we are required to determine whether this gives rise lo a material mlsslalemenl in the financial slalemenls themselves. If, based on the work we have performed, we conclud8 that there is a material misslatemenl of this other information. we are required lo reFM)rt Ihal fact. We hav8 nothing lo report in this regard. Matters on whiGh we ara requlred to report by excepdon We have nothing lo report in respect of the followirng mallers where the Charllles IAocounts ar¢d Reports) Regulations 2008 requires us lo report to you if, in our oplnion.. the information given in the TrLtstees' Report is inconslslent in any material respect with the financial slalements., or sufficient accounting records have not been kept., or the financial ststemenfs are not in agreement with the accounting records and returns., or we have not received all the inforrnalion and explanations we require for our audit. Re$ponsibilitl85 of trusteès As explained more fully in the Trustees, Responsibilities Slalemenl, the Trusleos (who are also the directors of the charitable company for the purposes of company lawl are reswnsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for 8uch inlem81 control as the Trustees determine is t76¢essary to enable tha preparation of financial statements that are fr8e from material misstatement, whether due lo fmud or error. In preparing the finaneAal statements. the Trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, matters r8lated to going concern and uslng the going Goncern basis of accounting unless the Trustees either Intend to liquidate the charitable company or lo cease operalions, or have no realistic alternative but to do so. Page 17
KINGDOM EDUCATION LIMITED (A Company Limlted hy Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF KINGDOM EDUCATION LIMITED (CONTINUED) Audltors, responslbilitles for the audlt of the financlal statements We have been appolnled as auditor under sectiork 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain fftasonable assurance about whether tha financial statements as a whole 8re free from material misslalemenl, whether due to fraud or error, and lo issue an Auditors, Report that includes our opir¢ion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audil conducted in accordance with ISAS IUKI will always detect a materi81 misslalemenl when il exists. Misslalem6nls can arise from fraud or error and are considored material if. individually or in the aggregate, they could reasonably be expected to influence the 8conomlc decisions of Ltsers taken on the basis of these flnancial slalements. Irregularities, Includlng fraud, are instances of non<ompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. lo delect material misslatemenls in respect of irregulariti6s, including fraud. The extent lo whlch our procedures are capable of detecting IrregLJlarilies. including frad is detailed below- Based on our Ljnderslanding of Ihe legal and regulatory frameworks that are applicable lo the entity we have nsidared those that have a direct and indirect material Impact on the financial slalemenls and operations of Ihe company. These include but aro not limlled lo the Charities Act 2011, GDPR, and Employment and Health & Safely legislation. We obtained an understanding of how the company are complying with those lagal and regulatory frameworks by making inquiries lo the management. We corroborated our inquiries through our review of documenlalio generated and assessing the extent of Complian with the relevant laws and regulations. We discussed among the audll engagement team regarding the opportunities and incentives. including management overrlde of controls. Ihal may exist within the organisalion for fraud and how and where fraud might i)ccur in the flnancial slalemenls. As a r8sull of perfomiing the above, we identified the greatest potential for material misslalemellls due lo fraud are in the following areas, and our specific pr(Kedures performed lo address these are described below.. The risk of management override of controls is the area where lae financlal slaloments were most susceptible lo material misslalemenl due lo fraud. In addition, the key principal risks related to the exlstenGe of inapproprlate journal entries lo impact the profil for the year and management bias in accounting estimates. Procedures perfomied to address those were as follows: Idenllfylng and assesslng the design effectiveness of controls management has in place lo prevent and delect fraud, Including known or su8pecled instances of non-compliance wlh laws and regulations, and fraud.. Undèrstanding how those charged wlth governance consklered and addressed the polenlial far override of controls or other inappropriate influence over the financial reporting process., Challenging assumptions and judgments made by managemonl in ils signiflcanl accounting eslimatas., Identifying and 1881ing IoLJrnal enlrle8, in particular any unusual joumal enlrles posted around the yaar-end and joumal 8nlries posted by infrequent system users,. and Ensullng that funds have been classlfied corraclly. Page 18
KINGDOM EDUCATION LIMITED IA Company Limlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF KINGDOM EDUCATION LIMITED (CONTINUED) Because of the inherent Ilmilatlons of an audit. there Is 8 risk that we will not detect all irregularities. including those leading to a material misslatemenl In the financial slalemenls or non-compliance with regulallon. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the flnancial statements, as we wtll be less Ilkely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional cOnalMent, forgery, collusion, omission or misrepres8ntalion. A further description of our responsibilities for the audit of th8 financial statements is located on the Financial Reporting Counc¢l's website at.. wMN.frc.or .uklaudilorsres onsibili s. This description forms part of our Auditors, Report. Usa of our report This report is made solely to th8 charltable company's trustees, as a body, in accordance with Part 4 of tho Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we mlghl slate lo the charitable company's trustees those maller8 we are required to slate to them in an Auditors, Report and for no other purpose. To the fullest extent permilled by law, we do not acpt or assume respon8ibilily to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. Haslers Chartered Accounlanls Statutory Auditor Old Slalion Road Loughton Essex IG10 4PL 27 May 2026 Haslers are eligible to act as auditors in tarms of section 1212 of the Companies Act 2006. Page 19
KINGDOM EDUCATION LIMITED IA Company Llmited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2025 Restrlcted Unrestrlcted funds funds 2025 2025 Total funds 2025 Tot81 funds 2024 Note Income from.. Donalions and legacies Charitable activities Other trading activities Investments 220,500 20.409 1,391,442 11,503 28.865 240,909 1.391,442 11,503 28,865 209,699 1,380,052 6,106 32, 733 Total income 220,500 1,452,219 1,672.719 1,628,590 Expendlture on: Raising funds Charitable acilvilies 529 231,192 4,397 1,548,396 4,92S 1,779,588 4,164 7, 728. 792 Total expenditure 231,721 1,552.793 1,784,514 1, 732,956 Net expenditure Transfars between funds 111,221) 12,708 1100,5741 {12,7081 (111,7951 (104,366) 15 Not movement in funds 1,487 {113,2821 (111,7951 (104,366) Reconcillation of funds.. Total funds brought foward Nel moveme1 in funds 33,674 1,487 799,262 (113,282> 232,936 {111,7951 337,302 (104.366) Total funds carried fonvard 35.161 85,980 121,141 232,936 The Statement of Financlal Activities includes all gains and losses recognised in the year. The notes on pages 24 to 40 form part of these ffnancial slalemenls. Page 20
KINGDOM EDUCATION LIMITED {A Company Llmited by Guarantee) REGISTERED NUMBER: 01901401 BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Flxed assets Tangible assets 10 173,718 191,030 173,71B 191,030 CUrn1 assets Debtors Cash at bank and in hand 461.847 187,474 389.368 303,655 649.321 673,023 Current liabilitles Creditors.. amounts falling due within one year 12 {597,2431 (544,453) Net current assets 52,078 128,570 Total assets less current Ilabilities Creditors.. amounts falling due after more than one year 225.796 3fg,600 14 {104,6541 (86,664) Total n8t assets 121.142 232,936 Charity funds Restricted fullds Unrestricted funds 15 35,161 33,674 Designated funds Gener21 funds 15 15 99,570 {13,589} 100, 152 99,110 Total unreslrioted funds 15 85.981 199,262 Total funds 121,142 232,936 Page 21
KINGDOM EDUCATION LIMITED IA Company Llmited by Guarantee) REGISTERED NUMBER.. 01901401 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025 Th& entity was enlilled to Oxemption from audit under section 477 of the Companies Act 2006. The members have not required the entity lo obtain an audit for the year in question In accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowlgdge Iheir responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial slalemenls. The firbancial statements have been prepared in accordance with the provisions applicable to entities sublecl lo the small companios reglme. The financlal sla19menls were approved and authorised for issue by the Trustees on 27 May 2026 and signed on their behalf by.. A Farahat The notes on pages 24 to 40 fomi part of these firsancial slalemenls. Page 22
KINGDOkq EDUCATION LIMITED IA Company Limlted by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JI AUGUST 2025 2025 2024 Cash flows from operatlng activltles Net cash used in operatlng aclivilles (106,9011 63,557 Cash flows from investlng activlties Dividends, interests and rents from investments Purchase of tangible fixed assets 3,835 113,1151 4,675 (9,608) Net cash used in invastlng actlvities 19,2801 14,9331 Cash flows from financlng activitl•s Net cash provided by linanclng actlvltles Changè In cash and cash equivalents In the year Cash and cash equivalents al the beginning of th& year {116.1811 303,655 58,624 245,031 Cash and cash equivalents at the ènd of the year 187,474 303,655 The notes on pages 24 10 40 form part of these financial slatements Page 23
KINGDOM EDUCATION LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 General Informatlon Kingdom Education Limtted Is a charitable company, limited by gu8ralltee, registered England and Wales. The registered charity r7umber if 291913 and the regislored company number is 01901401. Thè registered address is Elmfield, Ambrose Lane, Harpenden, Herts, AL5 4DU. The princlpal activity of the charity is pre-primary, primary and secondary education. Accountlng pollcies 2.1 Basls of preparation of financial statements The financial slalemenls have boen prepared in accordance with the Charities SORP {FRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charllles preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland {FRS 1021 {effeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and tha Companies Act 2006. Kingdom Education Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al hislorlc81 cost or transaction value unless otheNise stated in the relevant accounting policy. The financial ststements are presented In Pound Steding, the functional currency of the charity, rounded lo the nearest £. 2.2 Golng concern These ffnancial statements have boen prepared on the going conrn basis. The Iruslees have prepared plans and budgets, which lake into account all available information. These plans and budgets cover a period of at least 12 months following the aulhorising of these financial stalemenls. Based on these budgets, together with consideration of the level of cash and ass81s held al the year end. the IrLtstees have a reasonable expectation that the Company will conllnue in operational exlslence for the foreseeable future and therefore consider il appropriate to adopt the going concem basis of proparation for these financial statements. 2.3 Income All income is recognised once the Company has enlill¢menl lo the income, il is probabl8 that the income wi51 be received and the amount ol income receivable can be measured reliably. Grants are included in th6 Statement of Financial Activities on a receivable basis. The balance of income r8ceiv6d for specific purposes bul nol èxpended during the period is shown in the relevant funds on the Balance Sheet. Wher8 income is recaived in advance of enllllemenl of receipt, its recognition is deferred ar)d includ8d in credllors as deferred income. Where 8ntillemeHI occurs b8fore income is receivaé, the income is accrued. Page 24
KINGDOM EDUCATION LIMITED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles {continuedl 2.4 Expendlture Expenditure is recognised once th8re is a legal or constructive obligallon to transfer economic bonefit lo a third party, it is probablo that 8 transfer of economic benefits will be required i settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity arg made up of Ihe lolal of direct costs and shared costs, including support CO8ts involved in undertaking each aclivily. Direct costs allributable lo a single activity are allocated directly lo that aclivily. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consislenl wlh the use of resources. Central slaff costs are allocated on the basis of lime spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on raislng funds includes all Èxpenditure incurred by the Company to raise funds for its charitable purposes and includes cosls of all fundraisin9 activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaklng the activilies which further the Company's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except Sn those cases where the offer Is conditional, such grants being recognised as expenditure when Ihe conditions allaching are fulfi118d. Grayts offered subject lo conditions whlch have not been mel at the year end ar8 noled as a commitment, bLtI not acmjed as expenditure. 2.5 Government grants Government grants are credited to the Slalemenl of Financial Actlvllies as the grant proceeds are received. 2.6 Tangible fixed assets and depreciatlon Tangible fixed assels costing £500 or more are capilalised and rec(nISed when futuro ewnomic benefits are probable and the cost or value of the asset can be measured reliably. Tanglble fixed assets are initially recognised at cost. After recognition, under the cost modol. tangible fixed assets are measured al c08t less accumulated depreciation and any accumulated impalrmenl losses. All co8ts incurred to bring a tangible fixed asset into ils inl8nded working conditlon should be Included in the measur8menl of cost. Depreciation is charged so as to alloGale the cost of tangible flxed assets less their resldual value over Ihélr estimated useful life. 08preciatlon is provided on the following basis.. Long-term leasehold property Plant and machlnery Motor vehicles Fixtures and filllngs 50A slraighl line 33010 reduclng balance 334/0 reduclng balance 330A r8ducing balancè Paga 25
KINGDOM EDUCATION LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting pollcie5 {contlnuedl 2.7 Debtors Trade and other debtors are recognised al the selllement amount after any trade discount offered. Prepayments are valuad at the amount prepaid n6t of any trad8 discounts due. 2.8 Cash at bank and In hand Ca8h al bank and in hand includes cash and short-lerm highly liquid investments with a short malurily of three months or less from the date of acquisition or opening of the deposit or siynilar account. 2.9 Liabilities and provlslons Liabilities are recognised when there is an obligallon 81 the Balance Sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in Setllemenl, and the amount of the selllemenl can be estimated reliably. Liabililles are recognised al the amount that Ihg Company anlicipales it will pay lo settle the debt or the amount il has received as advanced payments for the goods or seNices it musl provide. Provlsions are measured al the bèst estimate of the amounts required lo sellle the obligation. Where the eflect of the time value of money is material. the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks speciflc lo the liability. The unwinding of the dlswunl is recognised in the Ststement of Flnancial Activities as a finance cost. 2.1 O Financlal instruments The Company only has flnancial assets 2nd financlal liabilitias of a kind that qualify as basic financlal inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their setlemenl value with the oxceplion of bank loans which are subsequently measured at amortised cost using the effective irslerest method. 2.11 Pensions The charity operates a defined contrtbution penslon scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. Pag6 26
KINGDOM EDUCATION LIMITED {A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles Icontinu8d) 2.12 Fund aecountlng General funds are unrestricted funds which are available for use al the discretion of Ihe Trustees In fL¢rtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds Ihal have been sel aside by (he Trustees for partFcular purposes. The aim and use of each desigrnated fund is set out in the notes to the financial statements. R8Stricted funds are funds which are to be used In accordarbce with speafic reslricllons impos6d by donors or which have been raised by the Company for particular purposes. The Gosts of raising and adminisleiing such funds are charged agalnst the specific fund. The aim and use of each reslrlcted fund is set out in the notes lo the financial statements. Investment income, gains and losses are allocated lo the appropriat8 fund. Income from donations and legacles Restrictad Unrestr4Cted funds funds 2025 2025 Total funds 2025 Total fvnds 2024 Donations Donations Grants 10,384 20,409 30,793 23,980 The King's School Highfield Preschool Inclusion Funding EYPP 39,592 167,488 2,750 286 39,592 167,488 2,750 286 8,808 171,161 5,255 495 220.500 20,409 240,909 209,699 Total 2024 194.418 15.281 209,699 Page 27
KINGDOM EDLICATION LIMITED IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from charltable activltles Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 School fees Bursaries Pre school fees Special supwrt fees Regislratlon fees School activities School trips Minlbus hire 1,440,986 1,440,986 1,398,993 (188,079) 1188,0791 {161,523) 55,665 55,665 74,667 23,660 23,660 3,383 3,383 29,602 29,602 18.103 18.103 8,122 8,122 5, 770 31,527 19,206 11,4t2 1,391,442 1,391.442 1,380,052 To1812024 1,380,952 1,380,052 Investment income Unrestricted funds 2025 Total funds 2025 Tolal funds 2024 Rental income Interest rec&ivable 25,030 3,835 25.030 3,835 28,058 4,675 28,865 28,865 32, 733 Tot812024 32, 733 32, 733 Page 28
KINGDOM EDUCATION LIMITED {A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysls of expendllure by actlvltles Actlvltles undertaken dlrectly 2025 Support costs 2025 Total funds 2025 Total funds 2024 Tuitlon Fees 1,330,156 449,432 1,779.588 1, 728, 792 Tolal 2024 1.278,388 450,406 1,728,792 Analysls of direct costs Total funds 2025 Total funds 2024 Staff costs School activities, events and supplies School trips Tralning 1,249,582 58,082 16,377 8,115 1,192,911 54,958 18,054 12,463 1,330.156 1,278,386 Page 29
KINGDOM EDUCATION LIMITED IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of expenditure by acllvltles Icontlnued} Analysls of 5UPPOrt costs Total funds 2025 Tol81 funds 2024 Depreciation Light. heat and water Rent Rates 30.427 57,021 93,280 27,336 780 51,271 17,145 10.034 42,421 68.435 92,824 10,714 1,793 63,980 16.744 14.830 Cleaning Repalrs and maintenance Insurance Telephone E li Printing, postage and slatlonery Mlnibus expenses Markeling Vehicle leasing Equipment leasIg Bad debts Licenses and subscriptions Computer costs Bank charges staff refreshments and events Grant funding of activities Professional fees 8,062 7,367 3.410 9,446 18,463 59,951 14,263 9,429 5,512 505 14,975 9,079 2,866 15,494 19,656 13,067 15,511 11.631 6.846 1,597 3,416 18,527 1,790 23,940 449,432 450,406 Audltors, remuneration 2025 2024 F&8s payable to the Company's auditor for the audit of the Compar¢y's annual accounts 9,950 10,752 Page 30
KINGDOM EDUCATION LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 staff Costs 2025 2024 Wages and salaries Social security costs Contribution lo dafined contribution pension schemes 1,098.845 97,655 53.082 1,068,455 72,372 52,084 1.249,582 1,192,911 The average number of persons employed by the Company dvring the year was as follows.. 2025 No. 2024 Teaching and leaching support staff Admlnistralive staff Premises slaff 41 11 44 11 58 60 No employee recelved remunerallon amountlng lo more than £60,000 in ellher year. The key management personnel of th8 Academy oomprfse the Trustees and tha senior management team as listed on page 1. The lolal employment benefits including employer pension contributions of the key management personnel wer& £286,17112024.' £283,716). Trustees. remuneration and expensas During the year, Trustee remunefalion tolalled £Nil {2024 - £NILI. A relative of a trustee has been pald remuneration dL¢ring tho year which has been disclosed on note 24. During the year ended 31 August 2025, no Trustee expenses have been incurred (2024 - £NIL). Page 31
KINGDOM EDUCATION LIMITED (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10. Tanglble fixed assets Long-term leasehold property Plant and machlnery Motor Fixtures and vehlcles fittlngs Total Cost or valuatlon Al 1 September 2024 Additions 471,797 13,115 188,377 109,219 77,391 846,784 13.115 Al 31 August 2025 484,912 188.377 109,219 77,391 859,899 Deproclation Al 1 September 2024 Charg6 for the year 320,705 16,971 165,944 7,678 94,567 4,836 74,538 942 655,754 30,427 Al 31 August 2025 337,676 173.622 99,403 75,480 686,181 Net book valua Al 31 August 2025 147,236 14.755 9,816 1,911 173,718 Al 31 August 2024 157,092 22,433 14,652 2,863 19t.030 11. Debtors 2025 2024 Due withln onè year Trade debtors Other debtors Prepayments and accrued incon7e 449,503 9,966 2,378 356,348 10,267 2,753 461.847 369,368 Pag& 32
KINGDOM EDUCATION LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12. Creditors: Amounts falllng due wlthin one year 2025 2024 Trade credilors Other creditors Accruals and deferred incomo 57,001 113,007 427.235 9,393 56,139 478,921 597,243 544,453 13. Deferred Income 2025 2024 Deferred income at 1 September 2024 Resources deferred in the year Amounts released from previous years 466,455 430,572 417.285 466,455 {466,455) (430,572) 417.285 466.455 As al the year end date, the school were holdlng fe88 recefved in advance from parents for the 2025126 academlc year. 14. Credltors,. Amounts falling dua after morè than one year 2025 2024 other creditors 104.654 86.664 Page 33
KINGDOM EDUCATION LIMITED {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. statement of funds statement of funds - current year Balance at 1 September 2024 Balance at 31 August 2025 Transfers Inlout Income Expenditure Unrestrlcted funds Designated funds Highfield Preschool Minibus fund Dawn Kids Sports Hall Fund Sir Halley Stewart Twsl Cash Reserves 9,175 148,0841 38,909 14.000 457 560 135 85,000 14.000 14571 560 10 85,000 11251 100.152 9,175 {48,2091 38,452 99,570 Genèral funds General Funds 99,110 1,443,044 11,504,583) 151,1601 {13.589) Total Unrestricted funds 199,262 1,452,219 {1,552,7921 (12,7081 85,981 Restricted funds Highfield Preschool SEN funding Bursary Fund Project Development Special Projects The King's School 167,488 {179,6671 15291 (8,897) 12,708 529 6.971 7,500 8,897 511 976 42,628 23,820 2,354 24,331 3,330 (42,6281 33,674 220,500 1231,721} 12.708 35,161 Total of funds 232.936 1,672,719 {1,784,5131 121.142 Pag8 34
KINGDOM EDUCATION LIMITED {A Company Llmited by Guarantee> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. Statement of funds {continued} The specific purposes for which the funds are lo be applied are as follows- Mlnibus Fund Monies generated from Parent use of the minibuses Set aside for purthaselreplacemenl minibus In 2025126 or 2026127. Dawn Kids Dawn Kids is a School pupil missionloutreach group whlch visits Ghurches to reach the less fortunate in various European courlries. Sir Halley Stewart Trust The School received funds from the Sir Halley Stewart Trust which are awarded to a music pupil as prize. Cash Resekves The Charity sets aside a cash reserve, l)elow which ils cash reseTve should not fall. This Is equivalent lo a month's flx&d expenses obllgalions, including payroll, rent, elc. During the year. there was a transfer from the Gash resetves lo reslrlcled I designated funds. Thls transfer represents cash funds used lo cover the d8flcil on the Highfield Pre-school fund. Highfléld Preschool Grants and donallor¢s rec61ved in order lo continue funding the Highfield preschool. SEN Funding Started with a donation from appreciative parents. The school Is to flnalise its use. Initially11 will be used for fundlng Special Education81 Needsl Education Psychologist assessmenls for SEN puplls whose parents cannot afford the cost. Bursary Fund The King's School Bursary Ftjnd is self-funded, supporting pupils In keeping with th8 Charity's charitable purpose and Public Benefit obligation. Historically, the School annLJally foregoes 10 /¢ of gross income to fund Bursaries, normally means tested. Launched in 2022 the Bursary fund replaced the Educational Development Fund. Project Development Fundlsports Hall Fundlspeclal Projects The School has initiated plans, and funds. to facilitate capital development on sile. This indudes several projects including, a new Sports Hall, conversion of the current Gym/Hall lo facilitate the serving of school dinners complete with kitchen, and a block of Secondary School classrooms to supplement the provision In the current S8nior Block. The Klng's School Grants recelved from the Gouncil in order to fund 8arly yeavs education. Page 35
KINGDOM EDUCATION LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15, statement of funds {contlnued} statement of funds - prlor year B818nc8 81 f Seplamber 2023 Balance al 31 Augusl 2024 Tr8nsfers in/out Income Expenditure Unrnstrlcted funds Deslgnated funds Highfield Preschojl Minlbus fund Dawn Kids Sports Hall Fund Sir Halley Stewart Trust Cash Reserves 34,863 14,000 457 560 135 85,000 5,992 (52,453) 11,598 14,000 457 560 135 85,000 125 (125) 135.015 6,117 (52,578) 11,598 1g0.t52 General funds General Funds 145,910 1.428,055 (1,463,257) (7 1,598) 99,110 Total Unreslrlcted funds 280,925 1,434, 172 (1,515,835) 199,262 Restrleted funds Highfl8ld Preschool SEN fundlng Bursary Fund Project Development Special Projects The Klng's School 7, 730 7,509 19.172 20,445 1,530 l Tl, 161 (178.891J T,500 4,500 3,375 824 (23,672) 23,820 2,354 14.558 (14,558) 56,377 194,418 (217.121) 33,6T4 Total of funds 337,302 1,628,590 (1, 132,956) 232,936 Page 36
KINGDOM EDUCATION LIMITED {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16. Summary of funds Summary of funds - current year Balance at 1 September 2024 Balance at 31 August 2025 Transfers inlout Income Expendlture Designated funds General funds Re81ricted funds 100,152 99,110 33,674 9,175 {48,2091 1,443,044 {1,504.5831 220,500 1231,721) 38,452 151,1601 12,708 99,570 (13,5891 35,161 232,936 1,672,719 {1,784,5131 121.142 Summary offunds- prlor year Balance at I SeptK3mbei 2023 Balance al 31 Augusl 2024 TnSfer8 in/oul Income Expenditu Design81ed funds General funds Reslrlcted funds 135,015 145,910 56,377 6,117 152,578) 1,428.055 (1,463,257) 194,418 {217,121) 11,598 (11,598) 100,152 99,110 33,674 337,302 1,628,590 (1,732.956) 232,936 Page 37
KINGDOM EDUCATION LIMITED IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATElk4ENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Analysls of net assets between funds Analysls of net assets between funds . current year RestriGted Unrestkl¢ted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assal8 Cr8dilors due within one year Creditors due in MO than one year 173,718 173.718 614,160 649,321 1597,2431 {597,2431 {104,e541 1104,6541 35,161 Total 35,161 85,981 121,142 Analysis of net assets between funds - prlor year R8Stricted Unr6Stric¢8d funds funds 2024 2024 Tot81 funds 2024 Tangible fixed assets Current assets Creditors due wlthin one year Creditors due in more than one year 191,030 191.030 63g,349 673,023 (558, 787) (544,453) (72,330) (86,664) 33.674 Total 33,674 199,262 232,936 Page 38
KINGDOM EDUCATION LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Reconcillatlon of net movement in funds to net cash flow from operatlng a¢tlvitles 2025 2024 Net expenditu for the year las per Statement of Flnancial Activities) 1111,7951 (104,366) Adjustments for. Depreciation charges Amortisalion charges Decreasellincreasel in debtors Increase in credilors 30,427 {3,835) (147,5481 62.889 42,421 (4.675) 65,327 64,850 Nèt cash provlded byl{used Inl operating activltles 1169,862) 63,557 19. Analysis of cash and cash equlvalent5 2025 2024 Cash hand 187,474 303.655 Total cash and cash equlvalants 187.474 303,655 20. Analysis of changes in net debt At1 Soptember 2024 Cash flows At31 August 2025 Cash at bank and in hand 303,655 1116,181) 187,474 303,655 (116,1811 187.474 21. Penslon commitments Contributions payable by the company during Ihe year amounted to £53,08312024: £52,084). Amounts outstanding at Ihe year end amount to £Nil {2024-. £NIII Page 39
KINGDOM EDUCATION LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 22. Operatlng lease commltments At 31 August 2025 the Company had commitments to make future minimum lease payments Ltnder non- cancellable oper81ing leases as follows: 2025 2024 Not later than 1 year Later than 1 year and not18ter than 5 year8 15,699 14,951 15,699 15,699 30,650 23. Members. liabillty Each member of the charitable company undertakes lo conlrlbule ta tha aet8 of the company in the event of il being wournd up while helshe is a member, or wilhln one year after helshe ceases lo be a member, such amount as rnay be required, not exceoding £10 for th8 dgbls and liabilities contracted before helshe ceases to b8 a member. Related party transactlons The followlng relative of trustees were paid remuneration in capacity of laaching dung the year.. 2025 2024 JaCqeline Faharat 16.445 14, T96 16,445 14,796 Page 40