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← The Howe Green Educational Trust Limited

2025-08-31-accounts

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 AUGUST 2025

Page
Report ofthe Trustees 1 to 6
Report ofthe IndependentAuditors 7 to 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 26
DetailedStatementofFinancialActivities 27 to 28

THE HOWE GREEN EDUCATIONAL TRUST LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 AUGUST 2025

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Object

The object of the company in accordance with its Memorandum and Articles of Association is the education of children.

Strategic Aim

The School's strategic aim is to provide a broad and balanced education which enables the children to develop and extend areas of strengths and interest. Extra curricular activities are offered to draw out abilities and academic potential and to develop wider interests in life, thus preparing the children for a successful transition to their chosen senior school.

Objectives for the Year

The Board's main objective continued to be to educate all the School's pupils to at least the same high standard achieved by the School in previous years, so that they will be able to fully benefit from their chosen senior school. Our strategy for achieving this is to maintain a high teacher ~~-t~~ o ~~-~~ pupil ratio, tailoring our services as appropriate in each case to suit individual needs.

Page 1

THE HOWE GREEN EDUCATIONAL TRUST LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 AUGUST 2025

ACHIEVEMENTS AND PERFORMANCE

Achievements & Performance

The past year at Howe Green House School has been one of continued progress, achievement and development across. all areas of school life. Alongside the daily work of teaching and learning, the school community has continued to focus on strengthening opportunities for pupils while ensuring the smooth and safe running of the school.

In July, the school underwent a full inspection by the Independent Schools Inspectorate (ISI), during which all aspects of school life were reviewed, including education, co ~~-c~~ urricular provision, safeguarding, compliance, wellbeing, leadership and governance. The process highlighted the dedication and professionalism of both teaching and operational staff. In particular, the compliance of the school received extremely positive feedback during the inspection process.

We continue to carry out all necessary health and safety checks across the school, including routine inspections and compliance monitoring. This year we have also benefited from working with the Judicitum Health and Safety advisory service, which has provided valuable guidance and support. Within our nursery provision, this is the second year of offering the 48 ~~-~~ week option for Little Oaks Nursery. This has proven to be a successful addition to the school and is particularly popular with new families joining the community. An external company now also provides a holiday club for older pupils during the school holidays. This offers valuable support for working parents and the wider community while also providing a regular income stream for the school.

Creativity continues to thrive across the school through our productions and performances. Our youngest pupils delighted audiences with the Pre ~~-~~ Prep Nativity, Year 3 performed a wonderful Easter production, and pupils in Years 5 and 6 rounded off the year with their much- ~~a~~ nticipated summer production.

Academic success remains strong. Year 6 pupils once again performed extremely well in their senior school entrance examinations, gaining places and a number of scholarships and awards at schools including Bishop’s Stortford College, St Edmund’s, St Nicholas and Hockerill Anglo ~~-~~ European College.

Our pupils have also achieved notable success in sport and the creative arts. Highlights include ISA London North victories in Tag Rugby and Under 9 Netball, strong performances in hockey and cricket competitions, and pupils representing the school at national athletics and cross ~~-~~ country events. In the ISA Art Awards, pupils received several regional second ~~-p~~ lace awards as well as numerous finalist and highly commended recognitions across a wide range of artistic disciplines.

We were also delighted to celebrate a successful Speech Day, where our guest speaker, author and entrepreneur Vese Aghoghovbia. Vese’s work has empowered young people to embrace their identity, to celebrate difference and to lead with kindness and confidence. Her message resonates deeply with our own school values.

The school has also developed a new school prospectus this year and will shortly begin work on a nursery ~~-s~~ pecific prospectus to further support the growth of Little Oaks.

As always, Howe Green House School remains committed to investing in its facilities, opportunities and people, ensuring that every child is supported to grow, achieve and thrive.

Page 2

THE HOWE GREEN EDUCATIONAL TRUST LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 AUGUST 2025

FINANCIAL REVIEW

Financial Position

The balance sheet shows total funds of £2,240,953.

Also included in total funds is an amount of £79,909 which is restricted. These monies have either been raised for, and their use restricted to specific purposes, or they comprise donations subject to donor imposed conditions. Full details of these restricted funds can be found in notes to the accounts together with an analysis of movements in the year.

Funds totalling £129,347 have been designated, or set aside, by the Governors for specific purposes. These purposes and an analysis of the movements on the funds are set out in the notes to the accounts.

Unrestricted funds of the charity at 31 August 2025 total £2,031,697.

These funds are represented by tangible fixed assets with a net book value of £2,773,552, which leaves the net current assets of the General fund in deficit by £30,774 with long term liabilities of £711,081.

Investment Policy

The Governors may act as Trustees of any property, endowment legacy, bequest or gift given, held or acquired for educational purposes. The Governors may invest the monies of the Company not immediately required for its purposes in or upon such investments, securities or property as may be thought fit, but so that monies representing property subject to the justification of the Charity Commissioners of England and Wales shall only be invested in such securities and with sanction as may for the time being be prescribed by law.

The Charity’s Assets

Acquisitions and disposals of fixed assets during the year are recorded in the notes to the accounts.

Company law requires the Governors to prepare accounts for each financial year which give a true and fair view of the company's financial activities during the year and of its financial position at the end of the year. In preparing accounts giving a true and fair view, the governors' should follow best practice and:

The Governors are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the sub ~~-~~ committees list objectives for the year against which they report on the achievements and performance of those objectives.

Reserves Policy

The Board has examined the requirement for free reserves i.e. those funds not invested in tangible fixed assets, designated for specific purposes, restricted nor otherwise committed. The Board considers that the level of free reserves should be increased as circumstances permit so as to provide the flexibility needed to cover temporary shortfalls in incoming resources due to the timing differences in income flows; and adequate working capital to cover core costs to allow the School to cope and respond to unforeseen emergencies, whilst specific action plans are implemented. Building of such reserves can only realistically be viewed over the medium term and the Board is satisfied that the school remains in a financially sound position and that the present level of free reserves is satisfactory.

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 AUGUST 2025

FINANCIAL REVIEW

Finance & Premises Committee

~~-~~ Toreview the budget for the following year and to set fees accordingly ~~-~~ | Tocontinue to review how the sessional facility within Little Oaks is operating ~~-~~ To monitor public benefit and potential changes to the status of VAT ~~-~~ To review policies in line with the School Development Plan

Education Committee

~~-~~ To review the appraisal process throughout the School ~~-~~ Toscrutinise the roles of subject co ~~-o~~ rdinators ~~-~~ Toreview the Bursary Award ~~-~~ To review policies in line with the School Development Plan

Marketing Committee

~~-~~ Toreview marketing for the school ~~-~~ To monitor effectiveness of Open Mornings ~~-~~ Toconsider options for a past pupils association ~~-~~ To review policies in line with the School Development Plan

FUTURE PLANS

Our key objective for the future remains the same as reported above for this year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Company is governed by its Memorandum and Articles of Association, which were amended in 1996, December 2006 and February 2009.

Governing Body

The Trustees, who are also required under the Articles to serve as Directors of the company, are elected at the AGM on the basis of nominations received from members of the company who are parents of the School. The Directors try to ensure that at all times there are four parent Governors. Directors also nominate people to serve on the Board from outside the School who have the necessary skills required to contribute fully to the charity's development. The Board consists of not less than three nor more than eleven people. Each Director is elected for a term of between | ~~-~~ 3 years and shall not exceed nine years in office.

Organisational Management

The Governors of the School act in the capacity of Company's Directors for the purposes of the Companies Act and in the capacity of Trustees in respect of its charitable objectives under the Charities Act.

The Governors meet as a Board on a termly basis, or more frequently when required, to review and direct the general educational charitable objectives of the Company. Sub ~~-~~ committees consisting of Governors, Head, and other members of the Senior Management Team, meet once or twice per term and cover Finance & Premises, Education and Marketing. The day to day running of the School is delegated to the Head, who is supported by the Bursar and other teaching members of the Senior Management Team.

Trustee Induction & Training

New Directors are provided with an induction pack giving full details of the workings of the School. Trustee training workshops are offered throughout the year with the focus on responsibilities and key issues for school governors, risk management, SORP and the role of the Charity Commission in school regulation.

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Key Management Remuneration

The trustees carry out and annual pay review to ensure that the charity's pay levels are fair, competitive and an effective use of charitable funds.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02138295 (England and Wales)

Registered Charity number 297106

Registered office Howe Green House Great Hallingbury Bishops Stortford Hertfordshire CM22 7UF

Trustees EC J Fielding S F Bristow A J Cutla ~~n-~~ Smyth AB White (resigned 25.2.25) AS James (appointed 26.3.25) E G Lester GC W Rogers ME Sanders M Calnan R JF Dalton WR Wells GB Ambepitiya (resigned 26.3.25)

Company Secretary

AB White

Auditors Brindley Millen Limited Statutory Auditors 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

The Howe Green Educational Trust Limited, trading as Howe Green House School and Little Oaks Nursery, is a Company limited by guarantee (No. 2138295) having been incorporated under the Companies Act on 8th June 1987.

The Company does not have a share capital, but its members, in the event of winding up, have guaranteed to contribute to the assets of the Company a sum not exceeding £1 per member. Any surplus on a winding up, after the provision of any pension or allowances to retired employees, shall be given or transferred to another charitable institution with objects similar to that of the Company. The Howe Green Educational Trust Limited is a registered charity (No. 297106) with the Charity Commission for England and Wales.

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

REPORT OF THE TRUSTEES

for the Year Ended 31 AUGUST 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Brindley Millen Limited, will be proposed for r ~~e-~~ appointment at the forthcoming Annual General Meeting. Brindley Millen Limited acquired Hewitt Warin Limited, the previous auditor who had been approved for r ~~e-~~ appointment at the AGM.

Approved by order ofthe board oftrustees ON 0.0...cesses and signed on its behalf by:

Samantha Bristow. (Mar.23, 2026 13:42:57 GMT)

S F Bristow ~~-~~ Trustee

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE HOWE GREEN EDUCATIONAL TRUST LIMITED

Opinion

We have audited the financial statements of The Howe Green Educational Trust Limited (the ‘charitable company’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with 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 responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE HOWE GREEN EDUCATIONAL TRUST LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant are those covered by the Statement of Recommended Practice for Charities (SORP 2019) and the Charities Act 2011. We assessed the risk of material misstatement in respect of fraud by making enquiries of management and trustees and by testing the implementation of accounting controls in place. Based on the results of our risk assessment we designed our audit procedures to identify non ~~-~~ compliance with such laws and regulations identified above by making enquiries with key personnel and reviewing relevant documentation such as minutes of Trustee meetings and correspondence with regulatory bodies. We considered the risk of fraud through management override by incorporation testing of journal entries and reviewing any requirements to meet performance targets. We also considered, and tested for, the possibility of unauthorised payments to related parties.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE HOWE GREEN EDUCATIONAL TRUST LIMITED

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Maurice Brindley FCA BSc (Senior Statutory Auditor) for and on behalf of Brindley Millen Limited Statutory Auditors 167 Turners Hill Cheshunt Hertfordshire EN8 9BH Date occ03/23/2026secesecsenesesenseseeeees

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

for the Year Ended 31 AUGUST 2025

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||||||||| |---|---|---|---|---|---|---|---| |31.8.25|31.8.24| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|£|£|£|£| |INCOME|AND ENDOWMENTS FROM| |Donations|and|legacies|2|33,796|-|33,796|46,726| |Charitable|activities|4| |Tutorial|costs|-|-|-|(48)| |Management and|administration|15,935|-|15,935|17,720| |Fees|receivable|1,894,459|-|1,894,459|2,097,444| |Investment|income|3|13,644|-|13,644|1,240| |Total|1,957,834|-|1,957,834|2,163,082| |EXPENDITURE|ON| |Charitable|activities|5| |Tutorial|costs|1,221,874|-|1,221,874|1,299,945| |Property|172,556|-|172,556|289,601| |Welfare|41,998|-|41,998|81,177| |Management|and|administration|281,470|-|281,470|281,814| |Finance|costs|48,309|-|48,309|56,315| |Total|1,766,207|-|1,766,207|2,008,852| |NET INCOME|191,627|-|191,627|154,230| |RECONCILIATION|OF|FUNDS| |Total|funds|brought|forward|1,969,417|79,909|2,049,326|1,895,096| |TOTAL FUNDS|CARRIED FORWARD|2,161,044|79,909|2,240,953|2,049,326|

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The notes form part of these financial statements

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED (REGISTERED NUMBER: 02138295)

BALANCE SHEET

31 AUGUST 2025

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||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |31.8.25|31.8.24| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|£|£|£|£| |FIXED|ASSETS| |Tangible|assets|11|2,773,552|79,909|2,853,461|2,861,971| |CURRENT|ASSETS| |Debtors|12|321,122|-|321,122|315,758| |Cash|at bank|539,270|-|539,270|660,475| |860,392|-|860,392|976,233| |CREDITORS| |Amounts|falling|due|within|one|year|13|(761,819 )|-|(761,819 )|(1,025,609|)| |NET CURRENT ASSETS|98,573|-|98,573|(49,376)| |TOTAL|ASSETS|LESS|CURRENT| |LIABILITIES|2,872,125|79,909|2,952,034|2,812,595| |CREDITORS| |Amounts|falling|due|after more|than|one|year|14|(711,081|)|-|(711,081|)|(763,269)| |NET ASSETS|2,161,044|79,909|2,240,953|2,049,326| |FUNDS|18| |Unrestricted|funds:| |General|fund|2,031,697|1,840,070| |Bursaries|Fund|39,952|39,952| |Repairs|and maintenance|fund|45,000|45,000| |Development|reserve|44,395|44,395| |2,161,044|1,969,417| |Restricted|funds:| |Restricted|capital|fund|79,909|79,909| |TOTAL FUNDS|2,240,953|2,049,326|

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The notes form part of these financial statements

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE CASH FLOW STATEMENT

for the Year Ended 31 AUGUST 2025

  1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.8.25 31.8.24
£ £
Netincome forthe reportingperiod (as per the Statement ofFinancial
Activities) 191,627 154,230
Adjustments for:
Depreciation charges 19,470 31,679
Interest received (8,369) (1,240)
Finance costs 48,309 56,289
Increase in debtors (5,364) (305,153 )
(Decrease)/increase in creditors (268,290) 713,341
Net cash (used in)/provided by operations (22,617) 649,146
2. ANALYSIS OF CHANGES INNETDEBT
Net cash At 1.9.24
£		 Cash flow
£		 At 31.8.25
£
Cash at bank 660,475 (121,205 ) 539,270
660,475 (121,205) 539,270
Debt
Debts falling due within 1 year (41,962) ~~-~~ (41,962)
Debts falling due after year (718,269 ) 47,688
(760,231 ) 47,688 (712,543 )
Total (99,756) (73,517) (173,273)

The notes form part of these financial statements

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 AUGUST 2025

  1. ACCOUNTING POLICIES

Basis of preparing the financial statements and assessment of going concern

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. These accounts have been prepared on the basis of a Going Concern. The Trustees have continued to take reasonable measures to mitigate the risks to the School with monthly accounts prepared by an external organisation. Trustees have weekly communications, regular meetings and review of policies, together with periodic inspections of safeguarding measures when in school.

The financial statements are presented in sterling (£).

Critical accounting judgements and key sources of estimation uncertainty

In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements. Useful economic life of tangible tangible fixed assets: The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Useful economic life of tangible tangible fixed assets:

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

School fees relating to the current financial year are included in income, Fees paid in advance are carried forward to be credited to income in the financial year to which they relate. Grants receivable are included in income when any conditions relating to them have been fulfilled.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settkement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

All assets with a cost greater than £1,000 and with an expected useful life exceeding one year are capitalised.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

~~-~~ Computer equipment 33% straight line

~~-~~ Fixtures and fittings 10% straight line

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued

for the Year Ended 31 AUGUST 2025

  1. ACCOUNTING POLICIES ~~-~~ continued

Tangible fixed assets

No depreciation is provided on freehold property and classrooms as the property is to be maintained regularly so that its residual value will not be less than the cost of the property. Any depreciation charge arising would not be material.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are available for use at the discretion of the Governors in furtherance of the general objectives of the company.

Designated funds comprise general funds which have been set aside at the discretion of the Governors for specific purposes. The purposes and use of the designated funds is set out in the notes to the accounts.

Restricted funds comprise gifts of cash for the restricted purpose of providing fixed assets for charity use, or for purchasing other identified specific items for charity use.

All income and expenditure is shown in the statement of financial activities.

Net current assets

Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

Funds received to acquire tangible fixed assets

Where funds are received to enable the Charity to acquire fixed assets for use in the delivery of its services, the funds are held as restricted income until the assets are acquired. When assets are purchased from such funds the restriction is regarded as discharged and the funds are transferred representing tangible fixed assets.

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

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|||||||||| |---|---|---|---|---|---|---|---|---| |NOTES|TO|THE|FINANCIAL|STATEMENTS|-|continued| |for|the Year|Ended|31|AUGUST|2025| |2.|DONATIONS|AND|LEGACIES| |31.8.25|31.8.24| |£|£| |Donations|and|sundry|income|33,796|46,726| |3.|INVESTMENT|INCOME| |31.8.25|31.8.24| |£|£| |Rents|received|5,275|-| |Deposit|account|interest|8,369|1,240| |13,644|1,240| |4,|INCOME|FROM|CHARITABLE|ACTIVITIES| |31.8.25|31.8.24| |Activity|£|£| |Bursaries|awarded|Tutorial|costs|-|(48)| |Grants|Management and|administration|15,935|17,720| |School|Fees|charged|Fees|receivable|1,457,968|1,659,683| |Little|Oaks|Fees|Fees|receivable|302,910|298,267| |Essex|County|Council|Free| |Early Education Entitlement| |Grant|Fees|receivable|53,646|51,983| |Lunches|Fees|receivable|77,084|83,649| |Registration|fees|Fees|receivable|3,345|4,230| |Supervision|fees|Fees|receivable|(494)|(368)| |1,910,394|2,115,116| |Grants|received,|included|in|the|above,|are|as|follows:| |31.8.25|31.8.24| |£|£| |Herts CC|15,935|17,720|

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued

for the Year Ended 31 AUGUST 2025

5. CHARITABLE ACTIVITIES COSTS

5. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 6) Totals
£ £ £
Tutorial costs 1,221,874 ~~-~~ 1,221,874
Property 172,556 ~~-~~ 172,556
Welfare 41,998 ~~-~~ 41,998
Management and administration 24,468 257,002 281,470
Finance costs ~~-~~ 48,309 48,309
1,460,896 305,311 1,766,207
6. SUPPORT COSTS
Management and administration		 Finance
£
~~-~~		 Governance
costs
£
257,002		 Totals
£
257,002
Finance costs 48,309 ~~-~~ 48,309
48,309 257,002 305,311
7. NETINCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors remuneration 31.8.25
£
4,250		 31.8.24
£
8,106
Depreciation~~-~~ownedassets 19,470 31,678
  1. TRUSTEES' REMUNERATION AND BENEFITS

No Governors received remuneration in their capacity as trustees during the year (2024: none).

Trustees’ expenses

No Governors received reimbursement in their capacity as trustees during the year. (2024: none)

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued for the Year Ended 31 AUGUST 2025

  1. STAFF COSTS
2025 2024
£ £
Staffcosts during the yearwere as follows:
Wages and salaries 1,076,719 1,171,841
Social security costs 107,981 100,934
Otherpension costs 103,671 100,858
1,288,371 1,373,633

Two employees earned between £60,000 and £70,000 per annum (including benefits) during the year (2024: one).

Thenumberofemployees, analysed by function was:
Teaching staff		 Thenumberofemployees, analysed by function was:
Teaching staff		 2025
37		 2024
37
Office management /Ancillary 14 15
51 52
The Governors consider that the Key Management Personnel of the organisation comprise the Board of Governors,
Co~~-H~~eads, Head of Little Oaks, Head of Pastoral, Teaching and Leaning Co~~-o~~rdinator and SendCo and Finance
Officer.Total KeyManagementPersonnel remuneration inthe yearwas £342,080 (2024: £294,223)
COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES
INCOME ANDENDOWMENTSFROM Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
£
Donationsand legacies 46,726 ~~-~~ 46,726
Charitable activities
Tutorial costs (48) ~~-~~ (48)
Management and administration 17,720 ~~-~~ 17,720
Fees receivable 2,097,444 ~~-~~ 2,097,444
Investment income 1,240 ~~-~~ 1,240
Total 2,163,082 ~~-~~ 2,163,082
EXPENDITURE ON
Charitable activities
Tutorial costs 1,299,945 ~~-~~ 1,299,945
Property 289,601 ~~-~~ 289,601
Welfare 81,177 ~~-~~ 81,177
Management and administration 281,814 ~~-~~ 281,814
Finance costs 56,315 ~~-~~ 56,315
Total 2,008,852 ~~-~~ 2,008,852
Page19 continued...

The Governors consider that the Key Management Personnel of the organisation comprise the Board of Governors, Co ~~-H~~ eads, Head of Little Oaks, Head of Pastoral, Teaching and Leaning Co ~~-o~~ rdinator and SendCo and Finance Officer.Total Key Management Personnel remuneration in the year was £342,080 (2024: £294,223)

THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued for the Year Ended 31 AUGUST 2025

10. COMPARATIVESFORTHESTATEMENTOFFINANCIAL ACTIVITIES~~- ~~ COMPARATIVESFORTHESTATEMENTOFFINANCIAL ACTIVITIES~~- ~~ continued
Unrestricted Restricted Total
funds funds funds
£ £ £
NETINCOME 154,230 ~~-~~ 154,230
RECONCILIATION OFFUNDS
Total funds brought forward 1,815,187 79,909 1,895,096
TOTAL FUNDS CARRIEDFORWARD 1,969,417 79,909 2,049,326
11. TANGIBLE FIXED ASSETS
COST
At 1 September2024
Additions		 Freehold
property
£
2,831,689
-		 Plant and
machinery
£
10,290
-		 Fixtures
and
fittings
£
197,204
2,001
At 31 August 2025 2,831,689 10,290 199,205
DEPRECIATION
At 1 September2024 67,277 414 121,313
Charge foryear ~~-~~ 1,055 14,683
At 31 August 2025 67,277 1,469 135,996
NETBOOKVALUE
At 31 August 2025 2,764,412 8,821 63,209
At31August2024 2,764,412 9,876 75,891

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued

for the Year Ended 31 AUGUST 2025

11. TANGIBLEFIXED ASSETS~~- ~~continued
Motor Computer
vehicles equipment Totals
£ £ £
COST
At September2024 14,250 119,361
Additions ~~-~~ 8,959 10,960
At 31 August 2025 14,250 128,320 3,183,754
DEPRECIATION
At		 September 2024
Charge foryear		 3,266
3,562		 118,553
170
At 31 August 2025 6,828 118,723 330,293
NETBOOKVALUE
At 31 August 2025		 7,422 9,597 2,853,461
At 31 August2024 10,984 808 2,861,971
12. The tangible fixed assets are used exclusively forthe educational purposes ofthe charitable company.
DEBTORS: AMOUNTS FALLINGDUEWITHIN ONE YEAR
31.8.25
£
Other debtors
276,127
Prepayments and accrued income
44,995		 31.8.24
£
298,464
17,294
321,122 315,758
13. CREDITORS: AMOUNTS FALLINGDUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 15)
Trade creditors
Social security and other taxes
VAT
Other creditors
Fees inAdvance
Acceptance Fees
Accruals and deferred income		 31.8.25
£
41,962
66,821
22,031
73,410
3,951
526,663
16,478
10,503		 31.8.24
£
41,962
47,216
23,747
~~-~~
25,640
842,633
31,500
12,911
761,819 1,025,609

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued for the Year Ended 31 AUGUST 2025

14. CREDITORS:AMOUNTSFALLINGDUEAFTERMORETHANONEYEAR
31.8.25 31.8.24
£ £
Bank loans (see note 15) 670,581 718,269
Acceptance fees 40,500 45,000
711,081 763,269
15. LOANS
An analysis ofthe maturity ofloans is given below:
Amounts falling due within one yearon demand: 31.8.25
£		 31.8.24
£
Bank loans and overdrafts 41,962 41,962
Amounts fallingbetween one andtwo years:
Bank loans ~~- ~~1~~-~~2 years		 48,794 57,700
Amounts falling due between two and five years:
Bank loans ~~- ~~2~~-~~5 years		 146,383 173,100
Amounts falling due inmore than five years:
Repayable by instalments:
Bank loansmore 5 yrby instal 475,404 487,469
16. LEASING AGREEMENTS
Minimum leasepayments undernon~~-c~~ancellable operating leases fall due as follows:
Within one year 31.8.25
£
13,864		 31.8.24
£
13,864
Between one and five years 27,729 41,593
41,593 55,457

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued

for the Year Ended 31 AUGUST 2025

17. SECURED DEBTS

The following secured debts are included within creditors:

Bank loans

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||| |---|---| |31.8.25|31.8.24| |£|£| |712,543|760,231|

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There are three commercial mortgages in operation The first is repayable by monthly instalments over 30 years with interest at 1.6% over base. The second is repayable by monthly instalments over 20 years with interest at 2.7% over base. The third is repayable by monthly instalments over 30 years with interest at 1.97% over base. They are secured by legal charges over the freehold land and buildings. The bank has a fixed and floating charge over all other assets.

18. MOVEMENT IN FUNDS

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Net| |movement|At| |At|1.9.24|in|funds|31.8.25| |£|£|£| |Unrestricted|funds| |General|fund|1,840,070|191,627|2,031,697| |Bursaries|Fund|39,952|-|39,952| |Repairs|and maintenance|fund|45,000|-|45,000| |Development|reserve|44,395|-|44,395| |1,969,417|191,627|2,161,044| |Restricted|funds| |Restricted|capital|fund|79,909|-|79,909| |TOTAL|FUNDS|2,049,326|191,627|2,240,953| |Net movement movement|in|funds,|included|in|the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|1,957,834|(1,766,207|)|191,627| |TOTAL FUNDS|1,957,834|(1,766,207|)|191,627|

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Net movement movement in funds, included in the above are as follows:

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued

for the Year Ended 31 AUGUST 2025

18. MOVEMENT IN FUNDS ~~-~~ continued

A current year 12 months and prior year 12 months combined position is as follows:

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||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Net| |movement|At| |At|1.9.23|in|funds|31.8.25| |£|£|£| |Unrestricted|funds| |General|fund|1,685,792|345,905|2,031,697| |Bursaries|Fund|40,000|(48)|39,952| |Repairs|and|maintenance|fund|45,000|-|45,000| |Development|reserve|44,395|-|44,395| |1,815,187|345,857|2,161,044| |Restricted|funds| |Restricted|capital|fund|79,909|-|79,909| |TOTAL|FUNDS|1,895,096|345,857|2,240,953| |A|current|year|12|months|and|prior|year|12|months|combined|net|movement|in|funds,|included|in|the|above|are| |follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|4,120,964|(3,775,059|)|345,905| |Bursaries|Fund|(48)|-|(48)| |4,120,916|(3,775,059|)|345,857| |TOTAL FUNDS|4,120,916|(3,775,059|)|345,857|

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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

The bursary fund was established to provide short term hardship grants and long term bursary awards for pupils at the discretion of the Governors. During the year no transfers were made to or from this fund (2023:none )

The repairs and maintenance fund was established to provide for the cost of maintaining the property of the company at the discretion of the Governors.

The Restricted capital fund consists of monies which were donated under Project 2012 for the restricted purpose of construction of the Cedar Wall building and associated development works and represents part of the capital cost of the building.

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THE HOWE GREEN EDUCATIONAL TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS ~~-~~ continued

for the Year Ended 31 AUGUST 2025

19. RELATED PARTY DISCLOSURES

At the end of the year four Governors were parents of children at the school (2024 ~~-~~ 3 Governors). School fee charges are on normal commercial terms and Governors derive no financial benefit.

There are no further related party transactions

  1. ULTIMATE CONTROLLING PARTY

In the opinion of the Governors, there is no ultimate controlling party.

21. LIMITED LIABILITY

The company is limited by guarantee and hence has no share capital. The amount guaranteed is £1 per member. There were 54 members of the company at 31 August 2025 (2024 ~~-~~ 57).

22.

CHARITABLE STATUS

The company is a registered charity (Charity Registration Number 297106).

  1. PENSION COMMITMENTS

Pension costs include payments by the company to APTIS (Aviva Pension Trust for Independent Schools) a Defined Contribution Scheme for teaching staff with employer contributions at 16.4% and under aut ~~o-~~ enrolment to NEST Workplace Pension Scheme.

Following Consultation the School exited the Teachers' Pension Scheme as at 31st August 2020 due to the significant increase in the level of employer contributions.

Employer contributions to APTIS and the NEST workplace pension scheme are recognised as an expense in the Statement of Financial Activities when they fall due.

Page 26

THE HOWE GREEN EDUCATIONAL TRUST LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 AUGUST 2025

for the YearYear Ended 31 AUGUST 2025
31.8.25 31.8.24
£ £
INCOME ANDENDOWMENTS
Donations and legacies
Donations and sundry income 33,796 46,726
Investment income
Rents received 5,275 ~~-~~
Deposit account interest 8,369 1,240
Charitable activities 13,644 1,240
School Fees charged 1,457,968 1,659,683
Little Oaks Fees 302,910 298,267
Essex County Council Free Early Education
Entitlement Grant 53,646 51,983
Lunches 77,084 83,649
Grants 15,935 17,720
Registration fees 3,345 4,230
Supervision fees (494) (368)
Bursaries awarded ~~-~~ (48)
1,910,394 2,115,116
Totalincoming resources 1,957,834 2,163,082
EXPENDITURE
Charitable activities
Tutorial costs Teachers salaries 1,079,969 1,133,494
Peripatetic Teachers 34,408 8,766
Teaching materials 29,479 38,571
Outings 34,342 50,348
Coach hire andpool hire 21,635 29,876
Training 4,062 6,355
Information technology 18,024 32,843
Property Maintenance salaries 420 29,217
Rates 25,357 12,582
Insurance 36,929 34,710
Electricity 19,318 24,953
Cleaning and cleaning material 49,873 56,297
Repairs andmaintenance 28,354 89,828
Garden maintenance 17,257 10,335
Depreciation 19,471 31,679
Carriedforward 1,418,898 1,589,854

This page does not form part of the statutory financial statements

Page 27

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