Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 Company registration number. 01975995 Chanty regtstrab'on number." 293623 E. IVOR HUGHES EDUCATIONAL FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 RI LLP Chartered Accountants
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Contents Page Reference and Adminlstrknve Details Trustees. Report Independent Audf(orfs Rep)rt 11 statement ol Finanaal Activrties linduding Income arKI ExperKlrture Accounti 12 Comparative Statement of Financial ACtNit lincludirMJ Income and Expenditure Account) Balance Sheet 14-15 Statement ol Cash Flows 16 Notes to the Statement of Cash Flows Notes to the Financial Slalements 18-28
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Reference and Administrative Detsils For The Yèar Ended 31 August 2025 Trustees Mrs L D Grimes Mr R J Brod( Mr J cOrt Mr A R Olins Company Secretary Mr Q M Pounon Charity Numkr 293623 Company Number 01975995 Reglstsred Offlce BuckiTrJham College Preparatory School 458, Raynets Lane Pinner Mid¢Jlesex HA5 50T Audltors Ripe LLP Chartered Auntants aTrJ Regtstered AudrtoTs 9A 8urroughs Garden London NW4 4AU Sollcltor8 IBB Solicrto Caprtal Court 30 Windsor Street Uxbridge. Mithjlesex U88 1AB Page 1
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Company No. 01975995 Trustees. Report For The Year Ended 31 August 2025 The trustees present their report ar the financ1 slatements for the year ernled 31 ALVJUSt 2025. ObjÈctives and Activities Alms and Objectlves On 18 January 1984 the late Emest Ivor Hughes bequeath in his will the residuary of his estate. including three 8chth)Is to the Foundation. The E. Ivor Hughes Foundathon vs an incorwr*ed ¢harty with a liability limited by guarantee. The FouThlation's objectives are to promote and provwje for the thancement of education to chikdren in the United Kingdom and elsewhere. There has teen no Change lo Ihe objedNes durirg the year. The School operates as a Charrtab company limited by guarantee %•tho's Artides ol Association Indude the rules for appointment of Governors, all ol vthom are Iruslees ol the Charity aTrJ dire¢tors ol the Company. The FouThlation's objectives are to promote and proVe for the &Jvancement ol education lo children in the United Kingdom and elsewhere. The Governors are reswnsitAe for settin9 a strategy to achieve the Foundation's objectives. Slgnlflcant Actlvltles The FoUndatn continues lo operate a boys-onty preparatoyy ythool In Pinner, MKkJle8ex. We continue to l¢)ok for further opportunities within the se¢Xor. Induding actNely seeknng partners lo work wlh so that each party can maximise the use ol their assets. We will conlinue lo offer burSarS and scholarships. Publ1¢ Benellt The Iru6lees confirm that they have complied wth the fequirements ol Section 17 of the Chanties Act 2011 10 have due regard to the Charty C¢)mmwon'$ guwjance on publi¢ tenefrt Grant Maklno The value of $¢holarshiFS. bursaries and other awards made to the wts1 out of unrestricted funds in the year vrds £93,05612024. £98,319). such awards beiro at the dtscretion of the Governing Body. Achlevements and Performance Charltable Acttvltle5 Buckingham Preparatory Scho We are exceptionally proud ol our Year 6 boys. who have once a3ain achieved outstanding success in their applications to academically selethe Secondary 5chods This year, our pupils received a total of 46 offers from Independent arKI grammar schoo. includirKJ eight scholarshiFS recognising excellence in acajemic achievement, music and all-round contribution. 33% of OUT Year 6 cohort secured grammar school places, significantly exceeding the national averaje ol approximately 6% ..CONTINUED Page 2
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Trustees. Report Icontinuedl For The Yèar Ended 31 August 2025 Charitable Actlvities- continued Academic outcomes across the school o)ntinue lo be exceptionally strong. End-of-year assessments showed that, on average, pupits achieved scoTes around 30 poin15 above national expectations, reflecting the high standards of leaching and the commrtment shown by tx)th staff and pupiL8 Following another successful year in the Primary Maths Challeroe, a team of Year 6 boys has aLs0 qualified for the National Maths QUE Club Fina at the UnNersrty of Oxford, where they VAII Present the sch1 shortty after Speech Day Aongside the full school curriculum. we have continued to offer a wde range of after-school clubs. including debating, quiz club, craft, mindfulness, STEM and life 5kn1. SFecialisl prov1510n has remained an important part of school life. with cluts such as chess, musical theatre. judo. coding. ICT. and Art and Design continuing to Ihrwe. We have maintained our trxoad pr(xJramme of edutIOnal visrts and re$entIal experEnces throughout the year. These have included camping tllF6 to Phasel's WocJ. a cultural visrt to York for Year 5 pupils, and a week-long residential in N(¥folk for Year 6, degned lo prom¢4e outdoor learniThJ. resilience and teamwork as the boys prepare lor the next $lage of their education. 11 has once again been a busy and vibrant year, wth another highly su¢xessful Expressive Arts Week and an engaging Book WeeK both involving every memtr ol the school ¢ommunity from Pre-school through to Year 6 Building on the success of our lirst alumni event, we have lurther developed our alumni network, enabling former pupils lo return and support current Year 6 boys as they prepare for the transrtion to serx)ndary sthool. The Performing Arts continue to flourish, wth SUessIul Infant and Junior production5 showcasing not only acting ability bul also crealNrty In wribng. directing and stage desn. The boys have also continued to excel in their LAMDA examinations, achieving numerous qualifications acros5 Verse and Prose, Public Speaking. Reading for Performance. Acting and Shakespeare. Sporting success has remained a key lealure o15chool Iile, wlh pupi15 participating enthusiastically in a wide range of competrtions and toumaments, demonstratirg tearrmrk, IlEnce and sportsmanship alongside competitive achievement As a charitable loundalion, we have continued to support our regular fundraising Inrtiwes, induding Red Nc6e Day, Harrow Food 8ank, Chihjren in Need and Worhl Mental Health Day The Foundation has also continued rts Important work In supporting the edu¢alion ol pupils lacing difficun circumstsnees by providing financk91 assistance lo families in need, ensuring th a¢¢ess to a 8ud(Ingham Preparatory School edu¢ation remains aVailae regardless 01 financial baClond. Flnanclal Revlew Flnancial Po8ltlon During the finanaal year, the Charity feceived Inc¢¥ne of £1,624.461 12024.. £1,648,gJ31 and had annual expenditure of £1.670.07512024.' £1.640.1031 gMThJ a deficiet of the year of£45.61412024.' £8.800 $urplu$l. The Foundation's principal assets are rt5 woperties. Induding the freehold properties occupied by the schools which Is slated at £1,327,f65 12024 £1,327.E651 in the aUnts These are the premises from which the Foundation provides rts educational services In the opinion of the Trustees. the market value of thc6e properties are not less than the value al which the woperties are show in the actounts. The Charity has a series of investment properties. induding a commercial school property and five resident1 properties, Ythich are ststed al a value of £8,¥25,OW12024" £8.5,OclI in the acts)unts. In the opinion of the Trustees, the markel value of those properties are not tss than the value at vknich the properties are show in the aCunts. pe3
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Trustees. ReFrf)rt Icontinuedl For The Yèar Ended 31 August 2025 Reserves Policy The Governors believe that the Foundation shoukd maintain sufficient financial reserves to enab the Foundation lo meet the risks and uncertainties of operating schoo15. This objectwe is kept under peiicllic review. As of 31 AU$l 2024, the Charty had reseNes of £10.697,011 12024. £10,7742.6251. Endowment funds represent around 16% of total fuThJs 12024 16%) The use of the endowment fund has been restred by the donor and the endowment fijnd was created from the Estate ol Efnesl Ivor Hughes as directed by Will on his demise in 9 January 1986. Golng Concern The Governors have concluded that the ¢urrent level of reseNes, along secured overdraft and loan fa¢ililie8, are at present sufficient to cover the operating risks and uncertainties are adequate to fulfil the Foundation's current obligations. The gang concern basis has therefore been aloptal In these financial slaternenls and are nsidered lo be appropriate for the Fericé of at least 12 nK)nths from Ihe de of signing these fi'nancHI statements. Risk Monagemenl The Governors are responsible lor the ovetseeing of the nsks laced by the School The detailed considerations of ri8k are delegated lo the Senior Management Team ol the S¢hool Risks are idenlffied, assessed and controls pul in place throughout the year. The key controls used by the FJndati0n Incjude Monitoring of pupil intake and retentKin on a temly basts. • Budgeting and budget resFonsibility • Aulhorisalion procedures. • Formal written policies Safeguarding, Including ongoing review ol policy and termly review by the Governors at their meetings A proactwe Health & Safely policy, along wth ongoing Idenlffjcation, audrt and Implementation procedures. • Regular review ol relevant legislation, incltJing external support from recognLsed professional trdIeS Wthin the educational sector. Regular Governors meelirrfjs, lat least lermlyl. to review all asFects ol the business. The labour govemmenfs imF•)Srtion ol Vot on sth¢JoI lees along wth the kjss ol tharitae rates relief and the additional National Insurance payments have had a devaststing elfect on our sector 11 Is estimated th over 150 schools have closed over the past 18 months aThJ many more have merged wrth other Foundations in order to seek financial slabilrty. In common wrth most sd)001s arouTrJ the country we are seeing a reduction In our annual new intake. results'ng in a lowering of our overall pupil numkrs. The g)ntinued hvjh inflation rate aThJ re¢ent ¢c6t increases have put a further burden on our parents. finances. The Foundation was set up follon9 Ivor Hughes's death in order to continue educating ptjpils within the Harrow area. The Governor5 are committed to o)nlinuiThJ this mBsion and wll o)nlinue lo support Buckingham Preparatory S()ool through this diffi¢utt pen(Kl Thts SUPFX)rt wll include the use of financial reserves when necessary to ensure that the school can continue to provide a level the education VR currently wovide. The Foundation Is fortunate lo have significant level of reserves. which can be utilised throughout this difficult perit)l. The governors are mitmllul that this supwrt cannot be open*nded but at present they feel rt is the correct course of action dunng these trouIng times CONTINUED Page 4
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Trustees. Report Icontinuedl For The Yèar Ended 31 August 2025 Risk Management- continued Our parents continue to be appreuatNe of the supm teiro prOvKI by the Foundation. which has enabled the school fee Increase5 to be kept to a minimum. Our flexible payrnent optsons continue to be powlai with our parents and has helped in ensuring that there has teen no increased in bad debt throughout Ihe past year Our pupil retention has remained static. wlh the reduction in pupil numbers being primarily a5 a resur( of the ntinued lower Intake into the Reception dass We (x)ntinue to offer sKJnth(2nlly lower fees than our local competitor schooL8 ertsuring that they are as affordable as possit4e. We offer bursanes and Scholah1[6 to pupib who have sho1 a real need wthin this area. The Governors continue to meet on a regular basLS, reviewng the finances. fijtures budgets and forecasts. The Investment properties continue to underpin the financlal security of the Foundation and all properties remain fully let at this lime. Our Bchod continue5 to obtsin excellent academic re5uts aThl our year six have, once again, athieved places al many ol the lop itxleFendent and grammar schools. Structure, Governance and Management Governlng Document The Foundation is a company limiled by guarantee governed by its MemoraThJum aTrJ Articles of Assooalion dated 9 January 1986 and amended for current govemance on 22 April 1999 and 22 January 2004. Key Man4ement Remuneratbon Al Governors give freely ol their time and no iemuneratv)n was paN1 during the year. No Governor or person nnected wth a Governor re¢eNed any tenefft from erther mear6 tested bursarie$ or scholarships The Governors attach great Importance lo safeguarding arraTrJements, pastoral care and ensuring that the SchooL8' leaching meets and continues to meet pupils. needs. in order that all pupils reach their full potential. Arrangements are in place for settirg the remuneration of key management personnel and, the board has taken Into consideration beno*mark Information and the market pay for these roles ThL4 exercL4e. together with the overall remuneration of other personnel. forms part of the board's annual salary review. which takes placE as part ol the budget process. The Chair of Govemors has obtained salef recnjrtmenl training. Organisational Structur The governors, who are also trustees of the chafty and diiectixs of the company, vrfho Seryed during the year were.. R J Brock A R Olins L Gnmes J Corcut Governors are apwinted by the FouThJatKJn's GovemirvJ B¢)Jy, who are themselves govemors. None ofthe govemors has any enefioI interest in the company. AAron, R J Brock, A R Olins and Lynn Grimes are members of the Company and guarantee to contribute £1 in the event ol a windiTrJ-up. . CONTINUED pe5
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Trustees. Report Icontinuedl For The Yèar Ended 31 August 2025 OrganiSaoal StructUTe- continued Every governor of the Foundation shall be indemnffied Jt of the fvnds of the Foundatr'on against all costs. charge5, losses, damages and expenses which they shall re5PECtNety incur on any matter done or permitted by them in the bona Ivae exeojtion of Iheir respectNe offices aThJ shall be reimbursed by the foundation for all reasonable expenses Incurred by them on any legal Voceing5 or arbrf(ration on account ol the Foundation OT othetwise in the bona fKJe exe¢xrtion of their respertive offices The Governors form The Governiro Body which shoukl consist of not less than 5 nor more than 20 persons apFK)inled from lime lo time by ofdinary resolution of the company or by notice In WTrtiro lo the company 51gned by a majority ol the members The governing body determines the general p)Iicy of the Foundation. The Governors are also the Charty Iruslees, and are responsible for the overall management ar control ol the school. The Governors meet as a Board al least three times a year wlh more work being Uertaken throughout the year in conjunction wth the Senior management team There are Govemors with individual responsibilitie5 such as Safeguarding and Heaf(h & Safely. Organisational management The Governors determine the general pdicy of the School. The day lo day running of the School is delegated lo the Head Teacher, supported by the senior staff The Head Teacher uThJertakes the key aderShiP role over5eeiro educational, pastoral and adminLStralive lunctions in cor6urtation wth the senior staff. The day lo day adminislralion of the School Is undertaken vrthin the wlicies and pr¢xedures approved by the Governors. Financial managemenf B carried OLrt by the Bursar. in consurtation wrth the Head Teacher and senior staff, wlh only sonilicant expendrture deosKJns 8rn1 m8jOf captal projeds being referred lo the Governor8 for pnor approval. statemenl cl Trustees. Responslbllltle• The trustees Iwho are also the directors of E Ivor Hughes Educational Foundation for the purposes of company 18wI are responsible lor preparing the Trustees, Rep and the financial statements In accordance with applicable law and United Kingdom AOunt1rg Standard$ Iunrted Kingdom Generally AcceFled k¢ounting Practice). Company law requires the trustees lo prepare finanual statements for each financial year. uer ¢ompany law the trustees must not approve the financial statement unless they are satsfied that they give a true and lair view of the state ol affairs ol the charitable company and ol the incoming resources application of resources. inclLJing the income and expendrture, of the chafrtat4e ccmpany for that period. In prepafiriJ the financial slalemenls the Iruslees are required to. select suitable accounlirrtJ policies and then apply them cor6i8tenlty". ot6erve the methods and prinoples in the Charrty SORP. make judgments and accounb'ng estimates that are reasonable and prLKlent." and prepare the financial slalemenls on the going contrn basis unless il 16 Inapprtsprkgte to presume that the company wll continue in business The trustees 8re reSpOn&b lor keeping aduate accounliro re¢orts vthich disclose with reasonable accura¢y at anytime the finan¢ial position of Ihe charitable company lo enable them to ensure that the aOunt$ comply wrth the Companies Act 20(6 They are also responsible for safeguarding the assets of the company and hence for taking reasonable slepE for the prevention a1 ¢Jete¢Aion of fraj and other irregularities. The trustees are resFK)nsible for the maintenance integrty ol the corrxJre and financial inlormation included on the charrtable company's websrte. Legislation in the United Kingdom goveming the preparation and dissemination of financol statements may drffer from legLslion in otheriurisdi¢tions pe6
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Trustees. ReFrf)rt Icontinuedl For The Yèar Ended 31 August 2025 Statement cl Oisclosure of Information to Auditors Each of the persons who are trustees al the time sthen thi5 trustees. reFM)rt approved has confirmed that.. so far as the trustee is awdre, there i% no relewdnt audrt informat of whic* the chantable Company's alIorS are unaware.. and they have taken all the steF6 that they ought to have taken as trustees in order lo make themselves aware ol any relevant audit Information and lo establtsh that the charrtable company's auditors are aware of that information. Indendent Auditors The auditors Ripe LLP are deemed lo be Teappointed under seth.on 487121 of the Compan$ Act 2. The trustees, report vras approved by the board of Iwstees and ggned on tts behalf by.. 'NLS 12BCCm2DIO3""""___" Mrs L D Grimes Trustee Date 3010612026 Page 7
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 IndependentAuditor's Report to the Members of E. Ivor HughÈs Educational Foundation Oplnlon We have audited the finanaal statements of E. Ivor Hughes Educalional Fcmjndation Ithe charty I for the year ended 31 August 2025 which comprise the Statement of Financial ActNrties lincluding Income and Expendrture Account), Balance Sheet. Cash Flow Statement and the related notes. including a summary of significant accounting Folioes. The financial reporting frameNsrJrk that has been applied In their preparation rs applicable law and Unrted Kingd<yn Accounting Standards (Unrted Kingdom Generally Accepted Accountin9 Practice), including FRS 102 The Financial Rep)rting Standard appliCae In the UK and Republic of Ireland" In our opinion the finanaal statements. give a true and fair view of the state of the charrtable companys affairs as at 31 August 2025 and ol rts incoming resources and application of resource5, for the year then eThled. have been properly prepared in ac¢ordance wrth United Kingjom Generally Accepted Accounting Practice.. and have been prepared in accordan wth the requirements ol the Companies A¢t 20C6. Basls for Oplnlon We ¢onducted our audit in accordance wth International Standard$ on ALhditing IUKI IISAS IUKII and applicable law. Our responsbilitie5 under those standards are lurther described In the Audrtorfs re5ponsibilrties for the audrt ol the financial slalements section of our rewrt. We are IndepeThYenl of the charrtae company In accordance wlh the ethical requirements that are relevant to our audit of the financial statements in the UK. induding the FRC'S Ethical Standard, and we have lullilled our other ethical reswnsiblilies In accordance wrth these requirements We believe that the audil evidence we have obtsined is sufficient aThJ appropri to wovwje a t)asB for our opnion. Conclusbons Relatlng to Golng co¢1n In audilirg the financial statements, we have Concluded that the tnBtees' uge ol the going concern basis ol accounting in the preparation of the financial statements is appropnate. Based on the work we hove performed. we have not identified any material uncertainties relating to events or conditions that, indNidually or collectively. may cast sunificant doubt on the charitable company'5 ability lo continue a6 a going concern for a pericyj ol al least 12 months from when the financial stslemenls are aulhorised for issue Our resFonsibililies and the responsiknlits of the trustees %Mth respect lo going concern are de5crited in the relevant sections of this reFK)rt. Other Informatlon The other inforrnation comprises the infomiation inclL*Jed in the annual report. other than the financial slalements and our auditor's report thereon. The trustees are resw)nsible for the olhei infoimalion eontained wrthin the annual retK)rt. Our opinion on the linanual stalements does not cover the olher informab.on and, except to the extent otherwise expliatly stated In our report, we do not express any form of assurance conclusion thereon. In connedion wrth our audit of the financial statements, oui ieswnsilylty is to lead the other Infoimalion and, in doing so, consider whether the other Information is materially inconsBtent vith the financial statements or our knowledge obtained In the audrt or otherwise appear5 to be matenally rnisslaled. If we identity Such material Inconsislencie5 or apparent material misstatements, we are required to detemiine whether thi8 gives rise to a matenal misstatement in the financial statements themselves. If. based on the work we have perform&J. we conclude that there 15 a material misstatement of this other Information. are requir&J to report that fact. We have nothing lo ret In this regard Page 8
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 IndependentAuditor's Report Icontinuedl to the Members of E. Ivor HughÈs Educational Foundation Oplnlon5 on Other Matters Prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit. the InlorTnalion given in the Tru5tees' Report, includes the Directors Report prepared for the purposes of company law, for the financial year lor vthich the financial statements are prepared Is consistent with the linanaal statements, and the Directors ReKK)rt Induded Nmthin the TnJstees' ReKK)rt have been prepared in accordance wrth applicable legal requirements. Matt•rs on Whlch W• Are Roquirad to R•port by Exception In the light ol the knowledge and understaTrJing of the Charrtae company and rts environfnent obtained in the course ol the aLJdrt, we have not identifth material misststements in the Direclorfs Report Included within the Trustees, Report. We have nothing lo report in respecl ol the foll¢)vAng matters in relath?n lo %thich the Companies Act 2C(6 requires us to report to you Il, in our opinion. adequate accounting records have not been kept or returns quale for our audit have not been received from branches not visited by us,. or the financial slalements are not in agreement wrth the attounting re¢ords or returns", or certain discIureS ol trustees. remuneratK)n Speofied by law are not made.. or we have not received all the Information and explanations we r&]uire for our audrt, or the Iruslees were not enlrtled lo prepare the financial statements In acrdanCe with the small companies regime and take advantage ol the small companies, exemptions in preparirg the Trustees, Report and from the requlremenl to prepare a Slralèaic Rep)rt. Responslbllltles ol Trustees As explained more lully In the Twslees. Responsitslrt8 Stslement sel out on page 2-7. the Iruslees l¥tho are also directors of the charitable company for the purposes ol company lawl are reSponsie lor the preparation ol the financial statements and lor beiTrJ salL5fied that they gNe a true and fair vw, and lor Such Intemal control as the trustees determine Is necessary lo enable Ihe weparalion of finanoal slalements that are free from materkgl misstalemenl. whether due to fraud or errcrf. In preparing the financial statements. the trustees are reswnsible for assessing the charitable company's abilrty lo continue as a going concern. disclosing. as applicab. matteTS related to going concern and using the going concern basis ol accounting unless the Iruslees ather intend lo Iw]uidale the c*arity or to cease operations, or have no realistic alternative but to do so. Audltor's Responslbllltles lor the Audlt ol the Flnandal Statements Our obpctwes are lo obtain reaSonae assurance about vknelher the financial statements as a whole are free from material mBslatemenl, whether due to fraud or etror. and to issue an au¢Jilorf$ report that Includes our opinion Reasonable assurance is a high level of assurance. but is not a guarantee that an audrt conducted in accordance with ISAS IUKI wll aN¥ays detect a malenal misstatement Ythen rt exLsts Misstatements can arise from fraud or error and are considered material rf, indNidually or In the aggregate, they wuld reasonably be expected to influence the econom decisions of users taken on the basis ol these finanaal statements. The extent to whith our procedures are CaPae of detecting irregularrties, Inc1j1n9 tra Is detailed below. As part of an audf( in accordance ISAS IUKI, we exercise professional judgement and maintain professional sceplicism throughout the audit. We also. ..CONTINUED Page 9
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 IndependentAuditor's Report Icontinuedl to the Members of E. Ivor HughÈs Educational Foundation Audltor's Responsibilities for the Audit of the Finanthal Statements- continued Identify and assess the risks ol material mysstatement of the finanaal statements, whether due to fraud or error. design and perform audrt prOdureS re5pon5we lo thc6e risk5, and obtain audit evidence that sufficient and appropriate to provide a basis for our opinion The risk of not delectiThJ a material misstatement resulting from fraud is higher than lor one resulting from error. as fraud may Invofve collu510n, forgery, Intentional omissiorB, misrepresentslions, or the overrkje ol intemal c(mlrol. We desun procedures and tests in line with our resportsibilitS. wtlined ab)ve. lo detect material misstatements in respect ol irregularities, Including Iraud. The extent to which our procedures are capable of delecling irregularities. including fra, Is detailed below. We obtain an underslandiThJ of the legal and rUlatOry frameyrks that are applicatAe lo the entity by revIng the Companies Act 20(b and Charities SORP - FRS102' The Finan¢ial RekY)rting StaThJard appli¢aiSe in the UK and Republic ol IrelaThJ'. We make enquiries ol man•Jement and those charged wrth governance around actual atvj wlenlial litigation and claims. We review financial stslement disdc6ures test lo supportirvJ documentation lo assess comFJiance. We audit the risk ol management overrhje ol controls and evaluate the bjsiness rationale of significant transactions outside the normal ¢ourse ol business. Obtain an understanding ol internal control reant lo the audrt in order lo de51gn audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness ol the charrty's internal conlrd. Evaluate the appropfialeness of accounting p)Iic4es L1 aTrJ the reasonableness of accounliryJ eslimales and related di8ckJsures made by the trustees. Conclude on the apwopriateness of the Iruslees use ol the going concern basis ol accounting and, base¢J on the audit evKdence obtained. whether a material uncertainty exists related to events or condrtions that may cast slgnificanl doubl on the ¢harity's ability to ¢onlinue as a going ¢oncern If v eonclude that a material uncertainly exists, we are required to draw attention In our audrtor's rep)rt lo the related disclosures In the financial statements or, if such di5closure5 are Inadequate, lo modify our OniOn. Our conclugons are bas&J on the audit evidence obtained up lo the de of our audrtor's rewrt. Hoyover, future events or ndrtiCs may cause the charity lo cease to continue as a going concern Evaluate the overall presentation, structure and ¢onlenl of the financial slalements. Including the disclosures, and whether the financial statements represent the uThJerlying transactions and events In a manner that achieves fair presentation. Obtain sufficient appropriate 3Jrt evKJence regardiNJ the finanoal information of the enlilies or business activities wrchin the charty to express an opinion on the finanaal statements We are respcinsible lor the directK)n, supervision and perlormance of the chanty audrt. We remain SOlY respon5itJe for our audit opinion. A further description ol our responwbilities lor the audit of the finan¢ial statements is located on the Financkgl Reporting Counul's wetsrte vMw.Irc.org.ukJaLpJilorsresponbljl1Ies. Thi8 description lorrrs part of our auditorfs report. Page10
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 IndependentAuditor's Report Icontinuedl to the Members of E. Ivor HughÈs Educational Foundation Use Of Our Report This report is made solely to the tharrtable comFony's members. as a bcJy. in accordance wlh Chapter 3 of Part 16 01 the Companies Act 2(K. Our audit work ha5 been undertaken so that we Mht slate lo the charitable company's members those matters that we are required to stale to them in an auditorfs rewrt and for no other purpose. To the ftJlle5t extent permrtted by law, we do not accept or assume responsibility to anyone other than the charrftable company and the Charrtable mpanY'S memtrs as a bcrtyy, lor wr audrt work, for Ihis report, or for the opinions we have tormed. Lrfaw PtsATOStrPYM¢Itr..... Robert Glazer FCA (Senr Stslulory A3) Isenior Ststulory Audrtorl for aThJ on tehalf of RIF¢ LLP. Slat[rt Audrtor O*e 3010612026 Ripe LLP Chartered Accounlanls and Registered Audrtors 9A 8urroughs Garden London NW4 4AU P•Je 11
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation statement of Financial Activities (including Income and Expenditure Accounti For The Yèar Ended 31 August 2025 2025 2024 Unrestricted Endowment Total funds Total funds funds fund Nots8 INCOME ANO ENDOWMENTS FROM: Charitable aclivilies-. Fees receivable 1.320.708 I93,0) 379,547 17,262 1,320,708 1,374.795 193,0561 198,1811 379,547 369,977 17.262 2.312 Bursaries, scholar5hiF8 aTrJ alh)wances Investments other 1,624,461 1.624,461 1,648,903 EXPENDITURE ON: Charitable artivities.. Charitable a¢tivilies 11,670,07SI 11,670,075) 11,640,103) NET IEXPEMDITUREIIINCOMe 145,6141 145.6141 8.800 NET MOVEMENT IN FUNDS 145,6141 145.6141 8.800 RECONCILIATION OF FUNDS: Total funds brought fofward 9,25,015 1,717,610 10.742,625 10,733.825 TOTAL FUNDS CARRIED FORWARO 19 8,979,401 1,717,610 10,697,011 10,742,625 The notes on pages 17 to 28 lorm part of these financkgl statements. Page 12
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Comparative Statement of Financial Activities lincluding Income and ExFenditure Aount) For The Yèar Ended 31 August 2025 2024 Unrestricted Endowment Total funds fund fund Notes INCOME ANO ENDOWMENTS FROM: Charitable aclivilies-. Fees receivable 1,374.795 198,1811 9,977 2.312 1,374.795 198,1811 369,977 2.312 Bursaries, scholar5hiF8 aTrJ alh)wances Investments other 1,648.903 1,648,903 EXPENDITURE ON: Charitable artivities.. Charitable adivilies 11,640,103) 11,640,103) NET INCOME 8,8 8.800 NET MOVEMENT IN FUNDS 8.8C 8.800 RECONCILIATION OF FUNDS: Total funds brought fofward 9,016.215 1.717,610 10,733.825 TOTAL FUNDS CARRIED FORWARO 19 9,025.015 1,717,61 D 10,742,625 The notes on pages 17 to 28 lorm part of these financkgl statements. Page13
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Balance Sheet AsAt 31 August 2025 2025 2024 Unrestricted Endowment Total funds Total funds funds fund Nots8 FIXED ASSETS Intangible Assets Tangible Assets Investment Properties 11 2,5) 1.378.872 8.825,OC(I 2,550 3,570 1.378.872 1,429.590 8,825,000 8,825,000 12 13 10,206,422 10,2CE,422 10,258,160 CURRENT ASSETS Debtors 14 384,436 672,351 384,436 672.351 329.336 666.578 Cash at bank arKI in hand 1.056,787 1.056,787 995.914 Cr8ditors.' Amounts Falling Du8 Within On8 Year 15 1514.7481 1514.7481 1461.6491 NET CURRENT ASSETS ILIABILITIESI 542,039 542,039 534.265 TOTAL ASSETS LESS CURRENT LIABILITIES 10,748,461 10,748,461 10,792,425 Credltors.. Amounts Falllng Due After More Than Oneyear 16 151,4501 151,4501 149.8001 NET ASSETS 10.697,011 10,697.011 10,742,625 FUNDS OF THE CHARITY Endowment Funds Unrestricted Funds 1.717.610 1,717.610 8,979,401 9,025,015 TOTAL FUNDS 10,697.011 10,742.625 Page 14
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Balance Sheet Icontinuedl AsAt 31 August 2025 These accounts have been prepared atKI delivered in accordan wth the WOWSKsns appli(af)le lo companies subject to the small companies regime. The finanthal statements were approved by the t)8rd of tDtstees on WIQfj1202fj.... and were signed tsn its bèham by. Mrs L O Grimes Trustee The notes on pages 17 to 28 lorm part of these financkql stslennts. Page15
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation statement of Cash Flow5 For The Yèar Ended 31 August 2025 2025 2024 Note8 Cash flows from Operang actlvltles Net cash used in oper*ions Interest paid 1367,8631 15,9111 1287.0611 12.4971 Net cash used in operating a1vleS 1373,7741 1289.5581 Cash flows Irom invuting activiti Purchase of tangible assets Interest received 11.1291 10.460 359.517 6.554 372.993 Rents received from investment wopert Net cash generated Irom invesling actNib"es 379,547 368,848 Increase in cash an¢J cash equivalents Cash and cash equivalen15 at beginning of year 5.773 666,479 79.290 587,188 Cash and ¢ash equivalents at eThJ ol year 672.252 866.478 Page 16
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Note5 to the Statement of Cash Flows For The Yèar Ended 31 August 2025 1. Reconclllatlon of lexpendllurelllncome to cash used In operallons 2025 2024 Net lexpendrtureVin¢ome Adjustments for.. Interest expense Interest Income 145,6141 8.800 5,911 16,5541 1372.9931 1.020 50,719 2,497 110,4601 1359.5171 3.563 54,141 Income from investments Amortisation of intangible asset¥ Depreciation of tangible assets Movements in worju'ng caprtal Ilncreaselldecrease in trade and other debtors Increaselldecreasel in trade and other credrtcKs 155,1001 54,748 32.500 118.5851 Net cash uBed in operations 1367,8631 1287.0611 2. Cash and cash equlvalents Cash and cash equivalents, a6 staled in the Slalemenl of Cash Flows, relates to the following rtems in the Balance Sheet". 2025 2024 Cash al bank and in hand Overdraft facilities repayab on demand 672,3S1 1991 666,578 1991 Cash and cash equivalents as slated In the Ststement of Cash Fk)V+E 672,2S2 686.479 3. Analy$l$ of changes In net funds Asat1 September 2024 Cash flows Asat31 August 2025 Cash at bank and in hand 6e6,578 1991 5,773 672.351 1991 Overdraft facilities repayable on demand Cash and cash equlvalents 666.479 5.773 672.252 Page17
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements For The Yèar Ended 31 August 202S 1. General Informatlon E. Ivor Hughes Educational Foundation is a company limrted by guarantee. incorwrated in England & Wales. registered number 01975995 and reg15tered charrty number 293623. The iegistered office is Bud(iThJham College Preparatory School. 458, Rayners Lane. Pinner, Mid¢lesex. HAS SDT 2. Accountlng Pollcles 2. 1. Basi$ of Preparion of Financial Ststements The financial statements have been prepared In accoTdance wrth the Chanties SORP IFRS 1021"Accounting and Reporting by Charities Statement ol Recommended Practice applicable to ¢harilies preparing their accounts in accordance wrth the Financial Reporting Standard ap lcae In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" Finanoal Rep)rtirKJ Standard 102 The Financial Reporting StaThJard applicable in the UK and Republ of IrelaTrS' and the Companies Act 20C6 The Charitable wmpony is a Public Benefft Entty as defined by FRS 102. Assets Iiabilrties are Inrtially recognised at historical cc61 crf transa¢tion value un3 olherwse stsled in the relevant a¢counlirg policy notes. The linanttal slalemenls are presented In Slerliryd 1£) and foures afe shown to the nearest whole pound. 2.2. Golnq Conrn Dl•closure The linanc4al slalements have been prepar on a going ttncem basis. The Iruslees assess whelher Ihe use of goir¥J concem is apprOprle i e. whether there are any materkgl uncertainties related lo events or conditions that may cast sunificant doubt on the ability of the charity lo continue as a going concern. The Iruslees make this assessment in resped of a period of one year from the date of approval of the financial statemenis. 2.3. Slgnlflcantjudgements and estlmatlon8 In the application ol the Chanvs a¢¢ountiro wlties, vknith are des¢xbed in thi8 note, the Trustees are required to make judgements. estimates assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources The eslimale5 and associated assumptions are based on historical experience and other tsctors that are COnsered to be relevant Actual results may differ from these estirnates. The eslimales and uThJerlying assumptions are reviewed on an orooitYJ basLS. Revisions lo accounting estimates are recognised in the period in which the estimate is revised rf the revision affects only that perth. or In the penod of the revision and future peri(xJs rf the revisi¢n affeLs trK)Ih current and future FeiiLs. There are no ¢ritical a¢counts'ThJ judgements or key Sour of e*imatson uncertainty at the reportirg date. Page 18
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 2.4. Fund Accountlng Unrestricted fvnds can be used in accordance wrth the charrtable objectNes at the discreb'on of the IrLk8tees DesKJnated funds comprise unrestn¢ted lunts that have ien set aswje by the trustees lor a specific purpose Restricted lunds are to be used for SFe¢ffi¢ wrFoses as laKY do1 by the donor. Endowment funds are subject to SFecffic ThjIt1 by donors th the caprtal must t* preserved by the foundation. 2.5. Incomlng Resources Fees receivable are accounted for in the Feri¢xl in which the service 1$ provided. They are stated after deductiro allowance5 and bursaries granted, Ibul include contributions frorn other tharilable Inslilulionsl Gifts and donations are accounled f¢y in the perioj in whi¢h they are received. Fees received in athance of education to be provhded are deferred arKI are fecognraed in the Statement ol Financial Activrties In the term when used. Government grants in relation lo exFendrture are c¥edrted to profrt arKI loss a¢Unt Nthen the expenditure 15 charged lo profit and loss. 2.6. Resources Expended Expenses are rcgnised in the period they are inwrred. ex¢eFI for those texhing $upplie$ relating lo sut6equent academic years." whKh are deferred lo the followng year. Charitable expenditure mPrISeS those incurred by the ¢harty in the delNery of its artiwties and services for 115 beneficiarie5. 11 Includes both costs that can be allocated directly lo such activities and Ihcfje costs of an Indirect nature necessary to support them. These include the cos15 attritrwjlable to the charity's Comlance wrth conslrf(ulional and slalulory requirements, includiro audrt, strategic management and trustees's meetitYJs and reimbursed expenses. 2.7. IntanglkAe Flxed A88ets and AMOrOn- Other Inlanglble Intangib assets are slated In the 8alance Sheet at ¢06t accumulated amortisab.on and Impairment. They are amortised * 20% on a $lrayhl line basB. 2.8. Tanglble Fixed Assets and Depr¢¢lation Tangible fixed assets are measufed al cost W accumulated depreciation and any accumulated impairment losses Depreciation provided at rates cakulated to write off the cost of the fixed assets. less their estimat residual value, over their expe¢ted uselul lives on the follcfyving bases. Plant & Machinery Motor Vehides Fixtures & Frttirrf 20% on cost 25% on cost 25% on cost Page 19
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 The Foundaton foll a wlicy of continual maintenance of rts freehold prope"e$ which have not been depreoated on the basis that the estimated resdual value is not materially different from its carrying value and that they have a k)ng uselul economic lile. In accordance wrth Financial ReFk)rting Standard 102, all Ireehdd pryrties are subject to an annual fair value aThJ impaimient review_ The I[0k property ha5 not been revalued and rs shown at cost. Individual items c(6tsro less than £1,5 are written off as an exFense as acquired. 2.9. Investment Properties All Investment properties are carried at fair value determined annually and derived from the current market rents and Investment property ytias lor comparable real estate. adjusted if necessary for any difference in the nature. location or condition of the SFecrfic asset. No deprecialDn ts provided for. Changes in lair value are re¢ognLsed in the statement ol finan¢o1 adivrties. Investment income is recognised on a receNable basis. 2. 10. Cash and Cash Equlvalents Cash and cash equivalents are basic financial assets and indude cash in hand and deposits held at call wth banks, other 5hort-lerm highly liquid Investments Ihal mature In no rrrfjre than three months from the date ol acquisi(ion and are re•Jily convertibk to a known amount ol cash wth insKJnificanl rBk of change in value, and bank overdrafts 2. 11. Taxallon The charity is exempt from tax ay all rts i10m 15 charrtab applied for charitable purposes. 2 12. Penslons The Foundation contributes lo the Teachers, PensK)n Defined Beneffts Scheme al rates sel by the Scheme Actuary and advised to the Board by the Scheme Admintstrator. The scheme Is a muf(i4mployef n$)n scheme arnj rt Ls not k))swble to identify the assets and liabilities ol the scheme whh are attr1bUtae to the foundation. In ac¢ordance with FRS102. the scheme L8 8¢eounted for as a defined eontribulion scheme. The lound*'on also offers a $theme for rts rK)n-te¥hing slaff. vknich a defin&J ntribUtIon heMe. Contributions lo both schemes are d)anged in the Stslement of Financial Aclivrties as they become payable, in accordance wth the rules of the scheme$. 2 13 Tralo debtors Trade debtors are amounts due from ujstomers for merchandBe sdd or serwce5 performed In the ordinary course of business. Trade deblors are recoJnised inthalty at the trarBadion price They aTe subsequently measured at amortised cost using the effective Interest method, less provision for Impairment A provision for the Impairment of trade debtors B established when there is objectwe evidence that the charty will not be able to collect all amounts due according lo the original terms of the re1vable$. Paje 20
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 2. 14. rIle credltors Trade credrtors are obluations to FQY for gcS or services that have been acquired in the ordinary course ol business from 8upplier5. Accounts payable are dassified a5 j[rent Iiabilrties if the chanly ¢k)es not have an unconditional rKJhl, at the end ol the rerx)rting period. to defer settlement of the creditor for at least months after the reporting date If there B an uncondrtional ruht to defer settlement for al least tWee months after the reng date, they are presented as norkcurrenl Iiabilrties. Trade creditors are reccgnised inr(ially at the transaLlion ple and sut6ffjuently measur&J at amortised cost using the effective Interest method. 3. Investment Income 2025 2024 Unrestrlcted Unrgstrlctad funds lunds Interest on short-lerm depc6rts Renls received from investment Wopert5 6,554 372.993 10.460 359.517 379,547 369.977 4. Net IncomellExpgndltur•l The net lexpendrturellincome ts slated after d)arging1lc¥ed.ngI.. 2025 2024 Bad debts Depre¢ialion of tangible fixed assets- owned Amortisation of intangible fixed assets 7,745 50,719 1.020 54.141 3.563 S. An4lysl$ of Expendllure 2025 Actlvltles undèrtsken Support direcuy costs Isee note 61 (see note 71 Total Charrtable activrties 1,654,929 15,146 1,670,075 Page21
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 2024 Activities undertaken Support direcuy costs Isee note 61 (see note 71 Totsl Charrtable activitie8 1,621.923 18,180 1,640,103 6. Dlr¢ct Costs 2025 Charltsbl¢ activiti Fundraising activrties.. Advertisiro, marketir¥J, dired mail arKI w1Cty Employee costs. Wages and salar Employers pensions Teaching ¢08ls General adminislrion' 17,672 991.620 142.810 212,120 Repairs, renewals and maintenance Bad debts written off 184.933 7,745 Depreciation". Depreciation Amortisation 50.719 1,020 Interest payable.. 8ank charges Credit card charges other.. 2,838 3.073 Office expereS 40,379 1,654.929 2024 Charitablo activities Fundraising actwrties". Advertising, markeliNJ, dired mail and putjicrty Employee cost5. Wages and salars 23.758 969,476 ..CONTINUED Page 22
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 Employers pensions Teaching $ts General administration.. 138.740 222,082 Repairs, renewals and maintenance Bad deE*s written off Depreciation.. Depreciation Amortisation 167,948 54,141 3,563 Interest payable.. Bank charges Other". 2,497 Office expewes 39,712 1,621,923 7. Support Costs 2025 Charitabl• actlvltles Governance ¢osts". Auditor's lees 14,175 971 Legal lees 15.146 2024 Charltable actlvitl88 Governance costs. Audrtor's lees 17.040 1,140 Legal lees 18.180 Page 23
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 8. Audltor's Remuneratlon Remuneration received by the charrtable companls audrtors and their associates durirg the year was as follows.. 2025 2024 Audit Sèrvic8s Audit ol the company's financial statements 13,375 17.040 9. Staff C¢)sts staff costs were as folh)NK8'. 2025 2024 Wages and salaries Other pension co818 991.620 142,810 969.476 138.740 1, 134,430 1,108,216 The number ol employees whose employee beneffts (excling em0yer enon o)stsl lor the reporting period exceeded £60,000 was". 2025 2024 £60,000 10 £69,999 10. Average Mumbgr of Employees Average number ol employees durir¥J the year was as follcwts.. 202S 2024 Head office 8uckingham Preparatory School 31 31 32 32 11. Inlanglble Assets Software Development Costs Cost As at 1 September 2024 17.815 As at 31 August 2025 17.815 ..CONTINUED Page 24
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 Amortlsadon As at 1 September 2024 Provkled during the Feri¢)J 14.245 1.020 As at 31 August 2025 15.265 Net Book Value As al 31 August 2025 2.550 As al 1 September 2024 3,570 12. Tangible Assets Land & Property Freehold Plant & Machlnery Motor Vehlcle8 Fixtures & Flttlngs Totsl Cost As at 1 September 2024 1.327.e65 119.939 85,C62 447,512 1,980.178 As al 31 August 2025 1,327,665 119,939 85.C62 447,512 1,980,178 Depr8clatbon As at 1 September 2024 ProvKJed during the Ferivj 113,025 3.240 49,442 18.016 388,121 29,462 550,588 50.718 As al 31 August 2025 116.265 67 458 417,583 601.3C6 Nat Book Value As al 31 August 2025 1,327,665 3,674 17.604 29,929 1,378,872 As al 1 September 2024 1.327,665 6.914 35.620 59,391 1,429.590 13 Investment Property 2025 Falr Value As at 1 September 2024 and 31 August 2025 8,825.000 The property al Tanglewood iThlepernlently valued * £6.750.000 by Hunters estste agents in 2023 based on the current market conditions and current demand for th type of property in the area. The yoperty al Hamilon Road was indepernlenlty valtjed al £7(XI.000 by Hunters eslale agents in 2023 based on the current market conditions and current demand for IhB type of property in the area. The property at Landsdowne Gardens vras independently valued at £325.(KK) by Fox & sons estate agents in 2023 based on the current market corKIth'ons. availabilty of mortgages and the ojrrent demand for this type of property in the area. ..CONTINUED Page 25
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 13. Investment Property- continued The property at Landsdowne Drive was indeFendentty valued al £L5.CQO by Fox & sons estate agents in 2023 based on the current market COndOn5, availabilrty of mortgages and the ojrrenl dernand for thi5 type of property in the area. The property at 8urton Roa* Wds valLd at £350.IY)O by trustees in 2023 based on curTenl market condf(ions for this type of property in the area. The property at Chapel Barn was independently valued at £375,000 by Fox & sor6 estale agents in 2023 based on the Current market conditions, availabilrty of mortgages and the current demand for this type ol property In the area. 14. Debtors 2025 2024 Due within ono year Trade debtors 365,978 18,458 307.675 21.661 Other debtors 384,436 329,336 15. Creditors: Amounts Falling Duo Within One Year 2025 2024 Trade creditors 12,240 99 21,123 83,150 398,136 11.199 99 Bank loans and overdrats Other ¢re(Iitors TaxalDn and social securty Accruals and deferred income 28,481 17.816 406.054 514,748 461,649 16. Creditors: Amounts Falling DueAfter More Than One Year 2025 2024 other creditors 51.450 49.800 17. Contingent LIalItIeS There are no ongoing claims against the Foundation in vthich a liabilty is exFected to arise. Page 26
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 18. Penslon Commllments The charitable company OFerates a defined contribution pension scheme The assets of the scheme are held 8epaialely from those of the charitable company In an Independently &Jminisleied lund. During the year the charge to the $t*ement of financial actsvrties in resFe¢t of defined ntribUtIon sthemes £142,81012024. £138,740) At the balance sheet dale contributions ol £NIL were due lo Ihe fund aTrJ are included in credf(ors. 19. Movement in Funds Asat1 Sèpt•mb•r 2024 Asat31 August 2025 IA)me Expenditur& Unr8Strict8d funds General.. General unreslri¢ted luTrJ Endowment funds 9.025,015 1.624.461 11,670,075) 8,979.401 Permanent Endowment lunds 1,717,610 1,717,610 Total lund$ 10.742.625 1.624.461 11,670.0751 10.697,011 Asat1 September 2023 Asat31 August 2024 Ir•M8 Expendlturo Unrestrlctod funds General. General vnreslricted luTr Endowment funds 9.016,215 1,648.3 11,640,103) 9,025.015 Permanent. Endowment lunds 1.717,610 1,717.610 Total fuThls 10.733.825 1.648.903 11,640.1031 10,742.625 20. Transaction$ with TTu$tees None of the IrLBtees recewed any remuneration or any other benerrts from an employment with the charity or a related ents.ly during the current or previou5 yea¥. No trustee expenses have t)een inojrred. Page 27
Docusign Envelope ID." 2DB3F810418W&813&017E681X)1A73 E. Ivor Hughes Educational Foundation Notes to the Financial Statements Icontinuedl For The Yèar Ended 31 August 2025 21. Related Party Dlsclosures There have been no rekted party transact¥)ns in the reportirg perioj that require disclosure. Page 28