LEWESTON SHERBORNE The Catholic Schools Trust (A Charitable Company Limited by Guarantse} (Formerly known as L8weston School Trust) Annual Report and Flnandal SL*ments For the Year Ended 31 July 2025 Company Number: 02041443 (England and Wales Charity Roglstsrfrd In England and ¥Vales Number: 295175 The Catholic Schools Trust Contents For the Year Ended 31 Juty 2025 Reference and Administrative Delails Report of the Trustees (including Statement of Trustees. Responsibililies) Independent Audrtor's Report on the Financial Stat8ments 12 ConsolKlaled Statement of Financial Aclivitses 15 Balan￿ Sheet and Consolidated Balance Sheet 16 Consolidated Cashfflow Statement 17 Notes to Financial Statements 18 ProJLKed ty Atert LLP The Catholic Schools Trust Reference and Administrative C*tails For the Year Ended 31 July 2025 Governors Mr lan Lucas" (elected 24 June 2020, reswr*d 16 December 20251 Mr Dermot McKechnie" (elected 12 June 2018, resigned 16 December 2025) Mr Graham Best" (elected 24 April 2023. resig1￿d 16 December 2025) Ms Valerie Simmons De Fontanals" (elected 4 December 2019, resigned 16 DeCeM￿r 2025) Mr Mark Brunel-cohen (elected 7 June 2023. resigned 16 December 2025) Mrs Rebecca Peacock (elected 16 September 2020. resyned 16 December 2025) Professor Anthony Meehan. (eleded 11 May 2021. resigned 16 December 2025) Mr Simon Greenwood (elected 11 May 2021, reS￿ned 16 December 2025) Lieutenanl General Sir Jarnes Outton" lelecled 1 Juty 2022, resigned 16 Decemi*r 2025) Mr Paul Felbeck" {elected 22nd June 2022, resyned 9 October 2024) Mrs Janel Schofield"" (elected 22nd June 2022. resigned 16 December 2025) Briony Jamie Mead (elected 10 October 2024. resigned 16 t)ecemter 2025) Lucy Hawks (elected 21 November 2024, resigned 16 December 2025> Beverley Joanne Kemp {e￿CIed 6 January 2025, resigned 1 November 2025) Hugh Anthony Hayama Dickins￿ (elected 16 December 2025) Hary Anthony Hayama Dickinson (elected 16 December 2025) James William Hall (eleded 16 December 2025) Finance & General Purposes Committee Education Committee Clerk to tho Governors Claire Worsley Officers Head.. John Paget-Tomlinson BA Hons. MA {London). Msc, MRes (London), PGCE Head of Preparatory S¢hool: Richard Thompson BA Hons. PGCE Director of Business Strategy and Operat￿ns. Claire Worsley MA Hons (Oxon) Registered Office Leweston School Sherborne Dorset DT9 6EN Company Number: 02041443 Audltor Albert Goodman LLP Goodwood House Blackbrook Busness Park Taunton TA1 2PX Bank Nalwest PIC 2 Hendford Yeovil Somerset BA20 1TN PrcKkKed ty Atert GOtsJrr￿ LLP Thè Catholic Schools Trust Reference arml Administrative Details For the Year Ended 31 Juty 2025 Solicltors Wilsons Alexandra House St Johns Street Salisbury SP1 2SB Insurance Brokers Marsh Ltd Education Practice Capital House 1- 5 Perrymount Road Hawyards Health West Sussex RH16 3SY Inveslment Advlsers Investec Wealth and Investment Limitad 2 Gresham Streèt London EC2V 7QN School Webslte www.leweston.co.uk The Catholic Schools Trust Reports of the Trustees For the Year Ended 31 Juty 2025 The Trustees. who are also the mernbèrs and directors of the Charity for the purposes of the Companies Act. present their report and the audited consolidated ffinancial statements for the year ended 31 July 2025. STRUCTURE. GOVERNANCE AND IAANAGEMENT Governlng Documents The governing documents of the Trust are the Memorandum and Articles of Association. The Articles of Association were 8￿nded on 14 Decernber 2025. reducing both the minimum number of trustees required on the Board and changing the broadening the Twust's obj'ects to rnake clear that its role was to advance the Roman Catholic Religion and in particular to support Roman Catholic Education in general and to acquire, develop. provide and Gonduct Schools foT Roman Catholic and other children. Change In Structure, Govornan¢e and Managenwnt slnce the Year End On 16 December 2025, the Twst sold the bu￿TreSS of Leweston School and certawi of its assets and liabl1￿.e5. tO9ether with the Trust's subsidiary, Levfftton School Enterprises Limited. to Leweston School Isherborne) Limited. a vtholby-ovffled subsidiary of Concept Educath)n Limited. Further information on the sale is set out in Note 18 to the Accounts on page 34. On completion of the sale, the direciors and members of the Trust resigned and were replaced by new Members. who became ex-officio Direclors of the Trust. Subsequently the name of the Trust was changed from Laweston Schools Trusl to the Catholic Schools Trust on 2 February 2026. In this reFth. Teference to the 'Goveming Body. or 'Govemors' is to the drectors and mern￿rs of the Trust who were in office until sale of Leweston School. Reference to the Trustees is to the directors and mernbers of the Trust who are wrrently In office. Trustoos The Trustees are Members of the Trust, which is a company lirnited by guarantee and a registered charity. Members are required ex-officio to serve as Directors of the Trust. Pursuant to the Articles. the minimum number of directors is three. and the maximum number of directors is Iwefve. At least 500/0 of Tfuslees rnu5t be of the Roman Catholic fath. Currenlly all of the Trustees are of the Roman Catholic faith. As Charity Trustees, the Trustees have control of the Charity and it5 funds. The Twstees aim to comply with the Charity Governance Code for larger charities issued by the Charity Govemance Code Steering group Governing Body Idurlng tho financlal perlod under revlew) The Govemors vRre divid￿ into two Catego￿5. a Govwnor who was appointed by the Roman Catholi Bishop of Plymouth and Governors appointed thwough the normal system. The Articles required that 500A of Governors were of the Catholic farth. Govemors seNed a term of three years and were e1￿ible lo sland for re-election for a further hvo tern)s or longer in exceptional circumstances. Govemors were responsible for the govemance of both the Senior and Preparatory S¢hoob. Trustoe Recrultrnent and Tralnlng Trustees are appointed who provide a balance of personal competence. specialist expertise and experience relevant to the running of an independent Catholic charty focused on the educational sector. New appointments are selected to fill identifiable gaps in the Board's exisling skills and to meet the needs of good governance. ProJuGgJ ty AJW LLP The Cathollc Schools Trust ReF)orts of the Trustees For the Year Ended 31 Juty 2025 Organlsatlonal Managemant The Trustees meet as a Board three times a year to detennine the general policy of the Trust and review its overall management and control for which they are legally responsible. Dunng the period under rev￿, scnrtinisir¥J the Trust's policaes and perfonnance was carried out by the Finance and General Purposes Committee (F&GPC), which met five times a year, and an Education Committee, which met temly. Specific Governors had additN)nal responsibilities for Boarding and Pastoral Care. Child Protection and Enterprises and partiopated in the deliberations of Ihe School's officers in these areas, reporting to the full Board directly. or via the committees vthith met at least three times a year aTr often more frequently. The day to day running of the School was delegated to the Head, supported by his Senior Leadership Teams. The Head and the Director of Business Strategy and Operations also met for a wed(ly business meeting during temi time and atterKled the Board arKI all commtttee meetings. STRA TEGIC REPORT Risk Managément The Trustees are responsible for the management of risk. The Trustees are satisfied that the Trust has established resour￿$ and systems which, under normal conditions. will allow risks to be miligated lo an acceptable and reasonable tevel. The Truslees expect these rèsources and SysteN￿ lo grow as the Trust expands. During the period urM*r review The Boawd of Govemors was responsible for thè management of rtsk. A detailed Risk Management Plan was prepared by the Ehrector of Business Strategy and Operations and broken (Jown into risks whKh were owned by the various committees, or the Board itself. The risks were reviewed tsvice a tem by the F&GPC and temity by the Education Commiitee and submffted to the Board for approval. Key strategic areas that are addressed include the academic standards, market posf(ion. long term financial stability and continued investment in the Trust's reswces and facilities. Key Controls used by the School included.. Strategic planning, budgeting and marwement ￿0￿nti￿. Established organisational structure and lines ol reporting with Govemor representation; Comprehensive vKitten policies., Compliance with the procedures for the safeguawdrng of children and other regulatory requirements,. Formal agenda and minutes for Board. Csjnmittee and Senior Management meetings. INVESTMENT During thè financial year 2024125. the School invested £319.966 in cawtsl expenditure. Development projects included.. Resurfacing and upgrade to the All Weather pitch New compLrter equipment. including interactive Scfeens for leaching classroom5 Fittings and fixtures for The Leweston Chedington RKJing Academy New minibus for transport to events PUBLIC BENEFIT The Twst is a charitable trust which seeks to benefft the wblic through the pursuit of its stated aims. As an important part of its function, the school audils on an ongoing basis the public benefft it provides. Prcxlwd Ajtert G)o¢lM LLP The Catholl¢ Schools Trust Reports of the Trustees For the Year Ended 31 Juty 2025 EDUCATIONAL PERFORMANCE DURING THE PERIOD UNDER REVIEW Koy Stage Ono 82% (external data 84%) of Leweston pupils reached at ￿a$1 expected level in Reading 83% {external data 849/0) of Leweston pupils reached at lèast the expected level in Maths 100% of pupi15 reached the expeded in Science Key Stage Two 82.10 188•kn extemal data) of Leweston pupils reached al *st the exF*ctsd level in Reading versus 750 nationally 8411/0 (88Yts external data) of Leweston pupils reached at least the expected ￿Ve1 in Maths versus 740 nationally 91Yo of Leweston pupils reached at Seast the extErted levd in Science vs 82% nationally GCSE Leweston'$ GCSE results this year reflect the school's wnmitiiient to nurturing every pupil lo achieve their personal best across a broad and ambitious curriculum. Over nine in ten Leweslon GCSE entTies achieved Grade 4 or above, Signffj￿ntty exceeding the national GCSE pass rate in England (67% for 2025). This strong overall picture is underpinned by outstarKling ifwJi¥i(lual performances. including one student who achieved nine Grade 9s. placing her among the very h￿hest achievers nationalty. A further group of pupils secured multiple top e￿1 grades across academic and creative subJ"ects. demonstrating both depth and breadth of achievement. At departmental level, over ham of all grades awarded in Fine Art. Fashion and Textile Design, Drama. Geography. and PE were at Grade 7 or above. Over a third of gr￿e$ in Maths, English and Biology were a 7 or above. A Lovol Students at Leweston achieved excellent A-levd resuts. ￿rth over haff of all students achieving one or more A. or A grade. Over a quarter of all students achieved On￿ A" or A grades. 40% of all grades reached this milestone. and 95% of all grades were A"_E. The school had notable succe5se5 in Further Maths, 3D Design and Fine Art, where all grades were A or hTrgher. OTHER SCHOOL ACHIEVEMENTS AND PERFORMANCE Sport Thè school achieved exceptional re5uFts across a wMJe range of sports at national. regional and county bevel during the 2024-25 academic year. In swimming. the school was represented by seven pupils at the Nalional ISA Finals held at the London 2012 Olymp￿ Pool. where muttith gold and sifver medals were secured across individual events and relay disciplines, ￿th lurther strong perf0mlan￿$ at the Somersel County Chamwonships. In hockey, the Under-13 Girls. t&wn reached the final of the ISA National Toumament and also competed at the ISA National U13 Finals at the Lee Valley Hockey Centre. The Under-12 Girls, team won the Regional Tier 2 Dorsèt Hockey Toumament, quahfying f¢y the Regional Finals. The Under-14 Girls. team won the Dorset T3 Toumament. the Under-15 side were runners-up in the Dorset Under-16 T3 Toumament. and the Under-18 side won the Dorset Under-18 T3 Toumament - the first time all senior hockey teams have progressed to the Regional Finals simultaneous￿. In netball. the season was the most successfijl in recent years. with Ihe First Vll recording a 75Q/D win rate. The Under-12. Under-13, Under-14 and UndeT-15 teams all qualified for the County Finals. and one pupil was selected for the Tearn Bath Netball Under-17 Athkte Development Programme. Prcxlwed ty Albert i&*xlrTW LLP The Catholic Scho￿$ Trust Reports of the Trustees For the Year Ended 31 Juty 2025 In cross country, the school hosted the inaugural Dave Barfow Cross Country Races V￿th over 300 participants from ten vistting schools. The Junior Girfs, team reached Ihe National Finals of the ESAA Cross Country Cup in Leed5, fink%hing 15th nationally. The schocA also won bronze in the Girls. Under-13 category at the National Prep School Championships. Fourteen wpils qualifEd for the ISA National Finals in Leicestershire. arKI four pupils represented Dorset Schools at the EThJlish S(*ools' National Finals in West Sussex. In modern pentathlon. e￿ht pupils competed at the National School Games Pentathlon at Loughborough University. achteving mulliple relay and individual podium finishe5. Four pupiL8 represented Great Britain al the Olympic Hopes Pentathlon in Poland. In the National Sch¢)ols' Laser Run. pupils claimed national championship titles across muth'ple age categories. In the Soulh West Regional Pistol Shooting competition, the school was top team in the region, with wpils qualrfying for the National Finals in several categories. In rugby. the Under-18 side won the Bowl Final at the ISA Rugby 7s tt)e first time the school has enter￿1 this Gompetition. Two PLpils were selected for the Bath Rugby Under-16 Development Progranme. and one pupil was selected for Dorset and Willshire County Rugby Under-16s. Two pupils were a150 selected for the Independent Schools, Footbam Association national sqL￿d. In cycling, one pupil gained a place on the GB OtymFxc development pathway. In shooting, the Senior team qualified for and competed at the Nat¥Jnal Sthols. Shooting Finals. In fencing. one pupil was selected to represent Great Britain at two European Fencing Confederation Cadet events. Several pupils qualified for national biathlon finals across year group categories. Équ8Strlan The school's equestrian pr￿JramMe continued to perfom at th8 highest national level. At the National NSEA Championships at Addington Manor. the school achieved six team placings. includiig tsvo runner-up finishes, alongside mU￿1ple individual podium results acros$ 15 horses and 13 rKlers. Six teams qualified for the NSEA National Eventers Challenge (Arena Eventing) Championship5 at Hickstead, with ￿￿1Ve indwidual pupils eligible to compete for irwjividual honours. The school represented Dorset in three team Show Jumping events at the Inter-county NatTronal Championships and entered the NSEA Inter-county Dressage Championships in the open seclion as reigning Dorset County Champions. In total, the school competed across ewJht team championships and had e￿¥@n indivwjual tiues to contest at Hlckstead durin9 the May half te￿n. Drama The Senior School production of The Curious IncKlent ol the Dog in the Night-Time was presented in theatre- in-the-round fomiat, with notable stagin9 and use of d￿lta1 effects. GCSE ttrama candidates performed examination pieces drawn from established theatrical repertoire. vthile A-Level candidales presented both a devised piece and a text-based perfomiance. demonstrating advanced engapment wrth contemporary and classical theatrical practitioners. Art and D•sign At A-Level, pupils received offers from prestigious art schools, and one pupil secured a place at medical school Y￿h a top grade in Art. demonstrating the breadth of outcomes achieved by students in the department. The Creative Arts Showcase, held at an extemal venue, drew a large audience of parents and communty member5 and featured gallery-standard disFdays of scholars, bvork alOr￿Ide live Ferfonnance. Year 9 architectural studies culminated in professional-quality 3D model constructions and digital presentations, and the department launched an urrycling fashion proj'ect in preparation for a school fashion show. At Key Stage 3, puwls engaged in projects spanning metalwork. sculpture, portratture and laser-cut design. New sewing machines and a 3D printer were acquired to support curriculum delivery. Prc￿l￿￿ ty Abert LLP The Catholic Schools Trust Reports of thè Trustees For the Yeai Ended 31 Juty 2025 Muslc Selected choral scholars participated in a workshop and joint conc8rt wtth the Choral Scholars of St John's College, Cambridge. attended by a member of the Royal Famity. The school's choirs compeled at the Taunton Festival of the Arts. with the Festival Singers and Sthola Cantc￿uM both winning their respective categories. The Prep School Choir was placed second in a competitive r￿d. A group of pupils travelled to Wesuands in Yeovil to attend a Boumemoulh Symphony Orchestra performance of GCSE sel works. The school's annual Choral Society and Communty Orchestra Concert featured approximately 1 $0 perfomiers drawn from pupils. staff. parents and communty members spanning an age range of over ￿ght decades. The school recorded a 100% pass Tate in ABRSM examinations, with a high proportion of Merit and Distinction grades. GOING CONCERN The financial statement5 have been kxepared on the going concem basis which assumes that the School will Continue in operational existence for 12 months from the date of approval of these financial statements. At the balance sheet date. the School haJ net current liab11rt￿ of £2,719,256 {inclusi¥e of £400.000 of short- terrn loans). Cr8dilors falling due in more than year indude other loans due to the Funding Group of £3,865,253 and secured on the TrLBVs freehold land and buildings by means of a first legal charge. Following the sale of the School, the Trusts assets consist of its freePw)Id land and buiklings, valued at £8,120,293. Following the year end, the lemis of borrowing of the funding group were renegotiated and the loan is now repayable under a long-term loan agreement expinng on 31 December 2075. Followin9 the year end, Ihe Trust leased its land and buiklings to Leweston School {Sherbome) Limited. The renlal proceeds from the lease are suffi¢ient to pay the *)itial loan and inter&t repayments under the amended facility agreement V￿th the FurKling Group. In addition, the Ttust is seeking to raise up to £25.000.0￿ in charilable donations for its new objects. On this basis the Trustees have concluded Ihat the School is a going concern. The financial statements do not therefore include any adjustments that woukl result from the School nol being at48 to meel its liabilities as they fall due. FINANCIAL REVIEW AND RESULTS FOR THE YEAR The Trust recorded an ￿ratIng deficit of £770.970 (2024 deficii.. £486,9)0). During the year under revièw, which saw the introduction of VAT on school fees. the Governiry Body took a d8usion to seek a buyer for the School and this resufted in its sale post the year end. The results for the year are therefore largely of historic interest only. The financial results for the year include £206.031 of exceptTronal costs related to advisory fees relating to the sale of the School. Freehold land and buildings The Trust's freehold land and buildings a￿ subject to a ffirst legal charge to secure borrowings advanced by a group of lenders {"Funding Group"). Fdlowing the year end. the temis of borrowing of the funding group were renegotiated and the loan is now repayable under a long-lerm loan agreement expiring on 31 December 2075 Following the year end. the Trust leased its land and buildings to Leweston Sthool (Shert)Ofne Limited). The rental proceeds from the lease are sufficient to pay the initial loan and interest repaymenls under the amènded facilrty agreement with the Funding Group. The Trusl will continue to invest in the land arKI t￿l￿11￿9S *l)ilst mindful of the Grade 1 and 2 Listings on certain of its buildings. The Call￿11¢ Schools Trust Reports of the Trustees For the Year Ended 31 Juty 2025 Anclllary and Tradlng Income During the period under review the Trust had a vthol1y-0wr￿d subsidiary. Leweston Enlerrxk88s Limited ('Leweston Enterprises.). which wovides letsure and letting facllities to the pupils and staff of Leweslon School, to the local community aThJ to the general public. Post the year erKI, Leweston Enterprises was sold to Leweston School (Shefborne) Limited. Rosorves Policy The Trust holds reserves both restricted and unrestricted and an endowment fund. The School's policy is thal unrestricted reserves should not be accumulated from year to year. unless for a specific capital project., any surplus generated is invested in developing the buildings and resources of the TrusL The Trust's unrestricted funds are a result of the revaluation of the land ar¥J buiklings at the year-end. Romuneratlon Pollcy Prior to sale of the SchTr)I, the Governing Body took into consideration the recommendations of the F&GPC when agreeing annual budgets for staff remuneration. Academic staff salaries were reviewed annually in the light of national awards to tske effect from 1 st September. Support Staff were reviewed annually looking at govemment changes and market rates specffic roks. Following sale of thè school, the Trusl has no empbyees and its Trustees are not paid for their services, although are entitled to recharge reasonable exFenses. ACCOUNTING AND REPORTING RESPONSIBILMES statement of Trustees, responslbllltles The Trustees (who are directors of the Leweston School Trust for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance wth applicab￿ law and United Kingdom Accounting Standards. including Financial Reporting Standard 102, Ihe Financial Reporting Standard applicable in the UK arKI the Republic of Ireland (United Kingdorn Génerally Accepted Accounting Pr8Ctice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the in¢oming resources and application of resources. includbng the income and expendrture of the charitstle group for that period. In preparing these financial stalements. the Trustees are required to.. Select suitable accounting policies and then appty them consistenty,. Observe the methods and prinCip￿S in the Charities SORP: Make judgements and accounting eslimates that are reasonabk arwj prudent., Stale whether applicable UK Accounting Standard have been followed. sutlect to any material departures disclosed and ewained in the financial ststements, aThJ Prepare the financial statements on the going COr￿M basis unless it is inapwopriate to presume that the charitable company viill continue in t￿Siness. The Trustees arè responsible for keepiro adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charilable company and enable them to ensure thal the financial statements compty with the cofflpan￿ Act 2(￿. They aTe also responsible for safeguarding the assets of Ihe charitable company and the gri)up and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charilable company's website. Legislation in the Unrted Kingdom governing the preparation and dissemination of financial statemenls may differ from legislation in other jurisdictions. The Catholic Schools Tnmt Report5 of the Trustees For the Year Ended 31 2025 Statement as to disclosurn to our auditors In so far as Ihe Trustees are •*are ￿ the twn8 of apwovffy iyjr Trustees. annuaf rnport: There is relevant rrftymknn. ber¥ needed by Ihe auditor in connection wrlh preparlng ther rewt of which the 9n￿p.S audrtor rs Un￿￿8., *KI The Trustees have e¥h taken all the steps that they ought to have taken lo maké themse￿9 aware of any ra￿vant audit inf0M￿lon and to establish Ihat the audiknx 1$ awe of tho information AUDITOR The audrtors. Albert Goodman LLP, *e de￿ned to be reapp)inled wrfler soclion 487{2) of thè Companies Act 2006. &gned cm bthaff d the Trustees C￿ ..... ..... Hugh Drckinsi Pfodw&J by Albort G(￿an LLP 10 Leweston School Trust Independent Auditor's Report on the F#Hncial Stslements For the Year Ended 31 July 2025 Oplnlon We have audited the financial statements ol the Leweston School Trust for the Year Ended 31 Juty 2025, which comprise Ihe consolidated Staternent of Fiiancial Activities. the consolidated and parent charitable company Balan￿ Sheets, the consolidated Statement of Cash Flows, and Notes to the Financial Statement5, including a summary of signfficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingjorn Generally Accepted Ac¢ounting Practi￿, including Financial Reporting Standard 102.. The Financial ReportirvJ Standard applicable in the UK and Republi¢ of Ireland (Uniled Kingdom Generalty Accepted A￿Unting Practice). In our opinion the financial siatemerrts: give a true and fair view of the state of the group's and the parent charitable company's affairs as at 31 July 2025, and of the group's incoming resour￿ and application of resources. including its Income and expenditure, for Ihe year then ended.. have been property prepared in aCC￿dan￿ with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance wtth ihe requtrements ol the Companies Act 2Cth. 8asis for oplnlon We conducted our audit in accordan￿ with Intemational Standards on Audiling (UK) (ISAS (UK)) and applicable law. Our responsbililies under those standards are fijrther described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parenl charitable company in accordance V4ith the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilits'es in accordance wrÉh these requirements. We believe that the audit evidence we have obtained is sufficient and approwate to pro￿de a basts for our opinion. Conclusion in relatlon to golng concom In auditing the financial statements. we have conclude tof the year before transfers and galns and losses Transfers betrween funds (802,987) (802.987) (456,719) 14 Net Sncomel{exwndltur•) and nèt movement In funds for the {802.987) (802.987) (456.719) vp.ar Ro¢on¢lllatlon of funds Total funds brought foThvard 2.458 210 500.000 1,462.668 1,919,387 Total funds carrled forward 159.471 210 500.000 659,681 1,462,668 The statement of financial adivrtEs has been prepared on the basis that all operations are continuing operations. There were no gains or losses arising in the year that are not shown above. The statement of financial activities incorporates the income and expenditure account. Projwed ty AlL￿rt (3x¥JrrAn LLP 15 The Catholic Schools frust- Company Rryl8tratlon Numbor. 02041443 Balance Sheet and Consolidated 8alaru Sheel For the Year Ended 31 July 2025 2025 2024 Group Charity Group Charlty Fixed assets Tangible fixed assets Intangible assets Invèstment in sub8idiwi 8.057.239 7.999,542 .047.177 7,986.75S 8.057,239 7.999,543 8,047,177 7,986,756 Current as5•ts Stock Debtor5 Cash * bank and in h￿d 10 11 119,729 2.114.904 5.418 27.376 2.602.147 809.713 107.889 2.226.485 1.062.555 .40.463 2.650.871 951,128 3.140.051 3.439,236 3.396.929 3.642.460 Liabllltln.. Creditors faIlr￿ due wihin one ye 12 (6.319.411) (6.264.567) (6.116.185) (6.036.979) Net curr•rt liabilities {3.179.360) {2,825,331) (2.719.256) (2.394,519) Creditors". amnts faling due in rThYe than one year 13 (4,218,198) (4.218.198) (3,865,253) (3.865.253) Total net assets 659.681 956,014 1.462.868 1,726.984 The funds of the charity: Restricled funds Unrestricted funds Revaluation reserve End(WKnenl f￿d 14 14 14 14 210 210 210 210 (1.489,041) (1.192.708} (715,302) (450,986) 1.648.512 1.648,512 1,677.760 1.677.760 S￿.0(m) 500.CD) 5(K).O(K) S(KJ.O T¢)tal charfty fund8 659.681 956.014 1.462.688 1.726.984 Diff Thè Trustees have prepared woup acc(xmts in accordance with section 399 of the Companies Act 2CX)6 and section 138 of the Charilies Act 2011. These accounts constitute the annual ae£ounts required by the Companies Ad 2006 and are for circuL*'on to mwnbers of the C1￿11able company. Tho notes from pages 17- 34 fom pa1 crf these acuwnts. Apwoved and arth(Yised for issue by the 8o*d of Tru￿ by: and Si￿ed on Ihek behall ickinson Produced by Albert Goodman LLP 16 The Catholic Schools Trust Consolidated Cashflow Statement For the Year Ended 31 July 2025 2025 2024 Notes Group Group Cash ftows from operatlng actlvllles Net movements in funds for the year {Profitllloss on disposal of tangible fixed assets Depreciation Interest recewable Interest payable Working capital adjustments Decreasellincrease) in stocks Decreasellincrease) in trade debtors {Decrease)lincrease in trade creditors <802.987) 883 321.736 (13,672) 332,239 (456,719) 286.125 (6,499) 311,071 1b 10 11 12 (11,840) 111.581 53.226 12,868 130,901 892,067 Nel cash flow from operations Cash flows from Investlng actlvS1105 Inlerest rèceivabl8 Payments to acquire tangible fixed assets (8.834) 1,169,814 1b 13,672 {332.681) 6,499 (379,155) Net cash (outflowvinflow from investing activities {319.009) <372.656) Cash flows from financlng actlvltlos Interest paid Loan advances received Loans repayments (129.294) 350.000 (50.000) (91.834) (100.000) Nèt cash {ouffiow)linflow from financing aclivil 170.706 (191,834) Net increaselldecrease) in cash and cash equNalents (157.137) 605.324 Cash and cash equivalents at Ihe beginning of Ihe reporting period 1.062.555 457.231 Cash and cash equivalents at the end of the reporting period 905.418 1.C62.555 Consisting of.. Cash at bank and in hand 905.418 1,062,555 905.418 1,062.555 Pftxlwj Ly At*rt C*h>Jnwn LLP 17 The Catholic Schools Trusl Notes to the Financial Statements For the Year Ended 31 July 2025 Accountlng Pollcles The principal accounting polic￿ &Jopted in the weparation of the financial statements are as follows.. Basls of accounting The financial statements have been prepared in accordan￿ with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102). The charttable company and its subsidiaries are a public benefft group for the purposes of FRS 102 and therefore the School also prepared rts financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ wilh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (The FRS 102 charit￿s SORP), the Cornpanies Act 2006 and the Charities Act 2011. The financial statements are prepared in steding. whth is the functional currency of the School. Monetary amounts in these financial statements are rounded to the nearest pound. Golng concern The financial statements have been prepared on the going Concern basis which assume5 that the School will continue in operational 8XiStence for 12 months from the date of approval of these financial statements. After the balance sheet date. the trade of the school was transferred lo Leweston Enterprises Limited, which was then sold to Leweston School (Sherbome) Limited on 16 December 2025. Leweston School Trust relains ownership of the property and has entered into a lease agreem8nt with Lewe51on School {Sherbome) Limiled for the use of the laThJ and buildings. This income will be used to maintain Ihe woperty to amow its continued use as a Catholic school. On this basis the Trustee5 have concluded that the School is a going cor)cern. The financial statemenls do not incIL￿ any adjustments that would result from the School not being able to meet ils liabilities as they fall due. Basis of consolldatlon Th8 Trust's subsidiary began trading on 1 Juty 2010. These group financial statements consolidate on a line by line basis the financial Statem￿1$ of the School and its subsidiary undertakings made up to 31 July 2025. As pemiffted by S408 of the Companies Ad 2006. the parent charitable company's income and expenditure account has not been included in these financial statements. The parent charitable Company's defictt for the year was £770.970 (2024 deficit: £486,900). Prc#Juced by Abert LLP 18 The Catholi¢ Schools Trust Notes to the Financial Statements For the Year Ended 31 Juty 2025 Compary limltsd by guarantae The company is limited by guarantee. the guarantors at thé present time being the Trustees, to the extent of £1 each. Fees receivable and similar income Fees receivable and charges for services arKI use of premises are afxounted for in the period in which the Se￿￿ is provided. Fees receNable are stated after dedtKting allowances, scholarships and other remissions grante(I by the school. Donatlons and fund accountlng Donations receNed for t￿ general purposes of the sthool are included as restricted funds. Donations reStr￿ted by the wishes of the dor)or or the tenns of an appeal are laken to restrided funds. Donations Tequired to be retained as captal in accordan￿ the donors wishes are accounted for as endowments- pemanent or expendatle according to the nature of the restr￿lon. Expènditure Expenditure is allwated to expense headings. which aggregate all costs relating to the category either on a direci cost basis. or apportiorsed ac￿rdIng to time spent. The irrecoverable element of VAT is included with the item of expense to which it relates. All cosls associated wryth the provi8ion of education are althated to Charitable Expenditure. Only the costs directly associaled wilh. or incurred solely in. RaisirrfJ Funds are allocated to this category. For example. the costs of kitchen and domestic Staff who are employed on a short term basis during the school holidays are allocated to the Cost of Raising Funds vthereas the costs of the permanent slaff are allocated to Charitable Expenditure because they would have to be paml in any event. Likewise, only wemises costs that are incurred because of, or lo support. the letting activities are allocated to the Costs of RaisitYJ Fur)Js. Supplies of garnes equipment, iK)oks. stationery and surKlry materials are vKitten off when the expendilure is incurred. Governance costs comprise costs of running the Trust. including stralegic planning for ils future devdopment, external audit. and all olher costs of complying with constilutional and stalutory requirements. Loasos and hire purchaso contracts Where assets are financed by finance leases and hire purchase agreèments the assets aré included in the Balance Sheet at cost less depreCIa￿n in a￿D[dance viith the ￿h0o1.5 normal accounting policy. The present value of future rentals is shown as a liability. The interest element of rental obligations is charged to the Ststement of Financral ActNities over Ihe period of the lease in proportion to the balance of cakytal payments outstarvjing. Rentals paid under opérating leases are charged to the SL3tèment of Financial Activrties evenly over the peTiod of the lease. ProJLt8d ty A]b￿ LLP 19 The Cathollc Schools Trust Notes to the Financial Statements For the Year Ended 31 Juty 2025 Tangible flxed assets and deprnciation All fixed assets are used in direct furtherance of the school's objectives. Fixed assets are included in these financial statements at their original cost less ¢kpreciation provided to date. Assets that are exFected to have a useful ecorM)mic lrfe of less than two years andlcff cost less than £250 are not capitalised and are written off in the year of purchase. Depreciation is provided on all tangible fixed assets, other than freehold laThJ, at rates calculated to write off the costs less estimated residual value of each asset. by equal annual instalments. over their expected useful lives which are considered to be.. Freehold land Freehold buiklings and improvements Plant and machinery Fixtures and fitb'ngs Vehides Computers All weather pitch Not depreciated 50 years 10 years 10 years S years 3 years 15 years 1.10 Inlanglblè fixèd a$s•ts and amortlsatlon All fixed a55ets are used in direct furtherance of the sthool's obiectrves. Fixed assets are included in these financial statements at their original cost ￿$S amortisation wovided to dale. Amortisation is wovided on all intsngible fixed assets at rates calujlated to h￿rte off the costs less estimated residual value of each asset. by equal annual instalments. over their expected useful lives which are considered to be: Soltware 3 years 1.11 stock Stocks are stated at the lower of cost and net realisable value. 1.12 Investments Investments are valued in the balance sheel at their mvj-market value at the balance S￿et date. Investment management costs are accounted for as incthntal Gosts of the acquisrf(ion or disposal where transaction-based. ￿lIe investrnent income management costs are char9ed a5 expenditure out of the relevant income funds. 1.13 Gash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at caH wrf(h banks, other short-temi liquid investments with orvJinal malwities of three months or less. 1.14 Flnancial instruments The charrtablè company has elected to apply the provisions of Section 11 'Basic Financial Instruments. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitsble compan￿5 balance sheet the ¢haritsble company becomes party to the contractual provisions of the inslrumenl. Financial assets liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable rKJhl to set off the recognised amounts and there 15 an intention to settle on a net bas or to realise the asset and settle the liability simultaneously. Wrth the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. See notes 11. 12 and 13 for the debtor and credrtor notes. Pr(#l￿d ty Abert Gch)Jnw LLP 20 The Catholic Schools Trust Notes lo the Financial Statements For Ihe Year Ended 31 July 2025 1.15 Employee benefits The costs of short-term employee beneffts are recognised as a liability and an expense. 1.16 Penslons Full-time and part-time teaching stsff employed under a contracl of Servi￿ are eI￿ltsIe to contribute to the Teacher5. Pension Scheme ITPS) or the Royal London Pension Scheme. The TPS, a statutory. contributory, final salary scheme ts administered by Capita Teachers, Pensions on behalf of the Department for EdL￿tiOn and Skills. For the TPS scherne. the costs include nonnal and sUppkn￿ntary contributions. The regular cost is the normal contribution, expyessed as a percentage of salary of a teacher newly enlering service, which would defray the cost of beneffts payable in respect of that service. Variations from the regular P8nfAon cost are mel by a supplementsry contribution. This occurs if, as a resull of the actuarial investigation. rt is fouThJ that the accumulated liabilities for beneffts to past and present t6achers are not fulty covered by norrnal contributions to be paKI in the future and by the fund buitt up from past contributions. The noTmal and supplementary contributions are charged to the income and expenditure account in the year lor both persion schemes. TtE school also pays contribulions inlo a Group Personal Pension Scheme for Support slaff. The Scheme is a defined contribution pension scheff*. The assets of the Scheme aTe held separately from those of the School in an independentty administered fund. The Pension Scheme charge represents contributions payable by the school in accordance *ryth the rules of Ihe Scheme. 1.17 Taxatlon As a registered charity, the charitable company is not liab￿ to corporation tax or capiial gains tax to the extenl that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and ts th￿efOre induded in the relevant costs in the Statement of Financial Activities. The charity subsidiary is able to recover Value Added Tax and therefore it is not induded wrthin the relevant costs in the Stateffl￿t of Financial Activities. 1.18 Key •stlmat•s and judg•ments In preparing finanGial statements il is ne￿ry to make ￿rtain judgements. estimates and assumptions Ihat affect the amounts iecognised in the financial statements. The following judgements and estimates are considered by the Trustees to have most signthcant effect on amounts recognised in the financial statements. (i) Useful Economic Lives The annual xKlThn LLP 23 The Catholic Schools Trust Notes to the Financial Statements For the Year Ended 31 July 2025 2a Support costs of schoollng Staff training arKI recruitment Marketing activities Marketing - commiSs￿n Central costs Legal and profess￿nal Finance costs 52,095 204.870 79,421 220,170 237.155 357.873 69.747 244.819 71,321 320,371 88,401 356,908 1.151,584 1,151,567 2b Govemance costs Audit and accountancy fees Accountancy fees Governors expenses 46,376 16.516 16 30,142 15,000 747 62.908 45,889 24 The Cathollc Schools Trust Noles to the Financial Statements For the Year Ended 31 July 2025 Staff costs Wages and salaries So(aal security costs Pension costs 5.191,724 489,747 615,487 5.100.644 409,748 582.662 6,296,958 5.510,392 Number of ernployees The average monthly number ol em￿oYeeS during the year was: 2025 2024 Educational staff Support stsff Nursery staff 109 57 48 106 48 48 214 202 The number of employees whose annual emoluments MEre £60.000 or more were.. 2025 number 2024 number £60,001 - £70.000 £70,001- £80,000 £80,001- £90.000 £90.001- £1CQ,000 £100.000+ Nel inc¢>mel(expendlture) for the year This is stated after charging.. 2025 2024 Nel inwme is stated after charging." Depreciation of tangible fved assets - ovmed Operating lease rentals - other Auditors remuneration - A￿lt0￿S remuneratiorn - Audit services for the subsidiary - Non-audrt ser¥i 321.736 77.300 286,125 31.540 17,81XI 4,000 15,000 2.500 ProlLKad ty Abert LLP 25 The Catholic Schools Trust Notes to the Financial Statements For the Year Ended 31 Juty 2025 Governors dlrectors The Govemors were not paid or received any other beneffts from employment with the school or bts subsidiary in ihe year (2024 - £nil). No Governor received payment for wofessional or other seNices supplied to the Leweston School Tnjst {2024 £nil). The Leweston School Trust has paid for directors and offbcers indemnity insurance. Defined contribution penslon s¢hwne The charitabl& company operates a defined contribuiion pen￿On schwne. The pension cost charge for the year represents contribution5 payable by the charitable company to the scherne. Contributions totalling £68.857 (2024 £53.423) were payable to the scheme at the end of the year and are included within the taxation aThJ social securty credrtor. Leweston School Trust considers Ihat ￿ key managemerrt personnel comprise the govemors and the Senior Leadership Team who are the Head. Bursar. Deputy Academic Head. Deputy Head Pastoral. Director of Maxketing. Diredor of Boarding. Director of Teaching and Learning, Head of Prep and Head of Finance. The total employee bènefits including pension costs of the key management personnel of the group were £671.180 (2024.. £668.994). Prrx1￿ed Ly Al￿ LLP 26 rQ(y a)nrD lo￿(0 •4¢* ZLL cvj ro Oito a￿ rD(fj u) ¥) rfj o) f*) ly) •* 0> J(0 N¢D ) r44Y) pfo Z5V b) ouD ZLL The Catholic Schools Trust Notes to the Financial Statements For the Year Ended 31 July 2025 Intangiblo fixed assets Software Cost At 1 Augusl 2024 Additions 97.553 At 31 July 2025 97.553 ArnortSsatlon: At 1 August 2024 Charge during the year 97,553 At 31 Juty 2025 97,553 Balance at 31 July 2025 Balance at 31 July 2024 Investments Charlty 2025 2024 Leweston Enterprises Limrted Ordinary shares of £1 each Leweston Enterprises Limited (company no. 07212188) was incorporated in England and Wales on 6 April 2010 as a wholty owned trading subsidiary of Leweston School Trust. The parent charity holds 100.kn of the issued share caprtal arKI 1￿)°￿ of voting IwJhts of the subsidiary trading company. The principal activity of the company is the attendance of commercial operations on behalf of Leweston School Trust. The subsidiary gfft aids its taxable profits to Lewe5ton School Twst. and files audited acGounts with the Registrar of Companies. Pr(xlu¢ed ty Abert LLP 29 The Catholic Schools Trust Notes lo the Financial Ststements For the Year Ended 31 July 2025 A summary of the trading results is shown below: 2025 2024 Turnover Cost of sales 450,351 {450,724> 332,010 {275,3691 Gross (loss)I profft Adminislrative expenses (3731 (31.6441 56,641 (26,4601 Net profiU(loss) before tax Donation payable to Leweston School (32,017) 30,181 Retained in subsidiary (32.017) 30.181 The assets and liabilities V￿re.. Fixed assets Current assets Current liabilities 57,697 293.101 (647.130) 60,422 223,756 1558,4931 Total net assets (296,332) (274,315) Representing.. Called up share capital Profrt and loss account (296,3331 (264,316) (296,3321 {264.315) 10 Stock 2025 Charlty 2024 Charlty Group Group Consumables and stores Stock for resale 27,376 92.353 27.376 40,463 67.426 40,463 119.729 27,376 107.889 40.463 Prc￿￿￿ed by Abwt GxKlnw LLP 30 The Cathollc Schools Trust Notes to Ihe Financial Statements For the Year Ended 31 July 2025 11 Debtors 2025 Charlty 2024 Charity Group Group Fees and extras Other debtors Prepayments and accrued income Amount due from grotsp undertaking 1,949,996 3.493 161,415 1.872.334 3.493 159.915 566,405 2,158.095 2,59) 65,8Crf) 2.103.194 2,590 65,800 479,287 2,114,904 2.602,147 2.226,485 2.650.871 12 Credltors: Amounts falllng duo wlthln one year 2026 Charity 2024 Charlty Group Group Other loar Trade creditors Taxation and social security Fees in advance Other creditors VAT and other tsxes Accruals 400,000 434.119 105,689 4.244.420 591,848 499.234 44,101 400,WO 383,023 105.689 4.242.367 590.801 492.644 50.043 250.000 221,965 107.688 4,985.851 400.282 6,775 143.624 250.000 206,590 107,688 4,985,851 343,226 143,624 6.319.411 6.264,567 6,116,185 6,036,979 2025 Charlty 2024 Charity Group Group Deferred income: Brought foNards Re￿iVed in the yeai Released in the year 4.985.851 4.985.851 4.244.420 4,242,367 (4.985.851) (4.985.851) 3,676,422 3,676,422 4,985,851 4.985.851 (3.676,4221 13.676,422) Carried forwards 4.244.420 4.242.367 4,985.851 4,985,851 Other loans Other loans include an amourrt of £400.000 (2024.. £50.OIXI) are unsecured and are nol attracting interest. 31 The Catholic Schools Trust Notes to the Financial Ststements For the Year Ended 31 July 2025 13 Credltors: Amounts falling duo after moro than one y•ar 2025 Charity 2024 Charlty Group Group Olher loans 4.218.198 4,218.198 3,865.253 3,865,253 4.218,198 4,218,198 3,865,253 3,865.253 2025 Charity 2024 Charity Other loans Repayable by instaknents.. Group Group In one year or Between one and two years Between two and five years 850.000 2.122.SCrf) 1.645.698 850,000 2.122.500 1,645,698 250,OIYJ 1.833.5CIJ 2,031,753 250.000 1,833.500 2,031.753 4.618,198 4,618.198 4,115,253 4.115,253 Other loans Other loans 1 include an amount from the Funding Gr(￿p of £2,668.198 (2024.. £2.515.253). The loan attracted interest at 3.25% over the Bank of England Base Rate in the year. The amount is secured over freèhold property owned by Leweslon School Trust with a final repayment date of 31 December 2032. Other loans 2 include an amounl of £1.OIYI.O(KI {2024'. £1,000,000). The loan attracts interest at 3.25 % over the Bank of England Base Rate. The amount 15 secured over freehold propety ovmed by Leweston School Trnst with a final repayment date of 31 December 2032. Other loans 3 include an amount of £550.000 (2024.. £550,000). The amount is secured over freehold property owned by Leweston School Trust with a final repayment date of 31 December 2032. Following the transfer of trade post year erKI. the above bans have been renegotiated to be repaid via fixed repayments at a 3.75% interest rate. 32 The Catholic Schools Trust Not8s lo the Financial Statements For the Year Ended 31 July 2025 14 Summary of movement In funds Transfers Oulgoing & valuation Resources galns OwnSng Incomin9 Balance Resources Closing Balance Group Unrestricted funds General reserv8 Revaluation reserve {715,302) 9.780.255 (10.583.242) 1.677,760 29.248 (1.489.041) (29,248) 1,648,512 Re51ricted fund School production 210 210 Total restricted 210 210 Endowment fund 5Tr),OLM) s￿.000 1,462.668 9.780.255 (10,583.242) 659.681 Summary of movement In funds- prlor year Transfers Qulgolng & valuation Resour¢e$ galns Prlor year Openlng Incomlng Balance Resources Closlng Balance Group Unrestricted funds General reserve Revaluation reserve (287,831) 9.935.288 (10.392.007) 1.707.008 29.248 (29.248) (715,302) 1,677,760 Restricted funds School production 210 210 Total restricted 210 210 ErKlowment fund 500,000 1.919.387 9.935.288 {10.392,007) 1,462,668 33 The Cathollc Schools Trust Notes lo the Financial Slatefflents For the Year Ended 31 July 2025 15 Analysls of assets belwoon lunds Unr•strict•d R•stricted Funds Funds Endowment Funds Total 2025 Group Tangible fixed assets Current assets Current liabilities Long term liabilities 8.057.239 2.639,841 (6.319.411) (4.218.198) 8.057,239 3.140.051 (6.319,411) (4,218.198) 210 500.000 As at 31 July 2025 159.471 210 500,000 659,681 Unrestrlcted Restrlcted Endowmont Funds Funds Funds Total 2024 Prlor year Group Tangible fixed asséts Current assets Current liabilities Long temi liabilities 8,047.177 2,896,719 (6,116,185) (3,865,253) 8,047.177 3.396.929 {6.116.1851 (3,865.2531 210 500.0 As at 31 Juty 2024 962.458 210 500,000 1,462,668 16 Obllgatlons under leases The total fuiure minimum rentsb payabÈ under nOr￿an￿lIable operats.ng leases fijnded by unrestricted fvnds a￿ as follows: Due wtthin one year Due betsveen two to live year5 Due in over fNe years 62,260 152,147 126.541 181,505 214,407 17 Related parties Governors are entitled to recover reasonable expenses incurred solely and directly as a resutt of perfomiing their duties as a Governor and Trustee. Expanses which are likely to fall into this calegory include travel, subsistence. and training costs. During the year nil Governors 12024= nil) were reimbursed £nil in respect of Iravel (2024: £nil). 18 Post Balancè Shoot Events On 16 December 2025, the trade of the school was transfeThed to Leweston Enterprises Limrted. On the same date, the charity sold its shareholding in Leweston Enterprises to Leweston School (Sherbome) Limited and entered into a ￿8$e agreement ￿￿th Leweslon School {Sherborne) Limiled in relation to the land arKI buildings. More information is availab￿ in the T￿￿tee$ Report. PrcKlu¢ed by AJt*rt G￿(trr￿ LLP