Regtstered C¢mpany number: 01942216 (England and Wales) Registered Charity number: 297580 GOVERNORS, REPORT, STRATEGIC REPORT AND FINANCIAL STATEMENTS FOR HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) FOR THE YEAR END 31 AUGUST 2025
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMITED-BY GUARAPITEE) LEGAL AND ADMINisfRATIVE INFORMATION Governors Mr 5 D Brookhouse Mrs R Hartley Mrs B A Hunwicks Mrs F Kitchen Mrs S L Maher Mr l A McKi550ck Dr C L Mcshane Mr L Pytel Mrj X Withrington Secretary Mr J Bell Head MrA Ward Charity Number 297580 Company Number 01942216 Re8iStered Office & Prlncipal Address Church Hill House Hor5ell Woking Surrey GU214QW Audltors TC Group The Courtyard Shoreharn Road Upper Beedih8 Steyning West Sussex BN44 3TN Bankers Lloyds Bank plc Woking GUI 3ZR Barclays Bank plc Woking GU216AE Solicitor5 Veale Wasbrough Bristol BSI 4QA GBH Law Ltd Elstead GU7 IJX
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) CONTENTS Page Governors. Report Ilncorporating Strategie Reportl Statement of Governors. Responsibilities Report of the Independent Auditors Statement of Financial ActivltSes 13 Balance Sheet 14 Cash Flow Statement 15 Notes to the Financial Statements 16
HAI5TEADST ANDREWIS SC+IOOL TRIIsHIMIFEI)4U¥fjUAR11ff£E> GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) The Governors of Halstead St. AndreWs School Trust Limlted present their annual report and audlted accounts forthe yearended 31st August 2025 and confirm they Comp with the qUIrementS of the Charities Act 2011, the trust deed and the charities SORP IFRS 1021. REFERENCE AND ADMINISTRATIVE DAlL5 OF THE CHARITY. ITS TRUSTEES & ADVISERS The dlrectors who held office at the date of thls report are as shown in the legal and administrative Information. STATUS AND ORGANISATION OFTHE SCHOOL Following the merger of Halstead and St Andrew's in 2023, the school was established as a company limlted by 8uarantee' company registration number 01942216. The charity registration number is 297580. The values and ethos ensure the children are happy because they know that this makes for better learning.. both schools promoted confidence and selF-esteem whlch lead to 2nd supported positlve and personal gr0h and achlevement for all pupils, and both provlded an inclu51ve, kind and secure environment. The sole actlvlty of the company in the year under revlew was that of running a fee-P2yln8 school, whlch represent5 its principal source of funding. OBJECTIVES To be the leadin8 Prep School in Woking and the surrounding areas. The school's vision is- HalsteadStAndrew s is ofomilyschool, prnvlg o caring4 secure t7ndnurturing environment that allows ourpupils to leorn oboutthemselvesundgrow in confidence. Wepasslonotelybelieve thothappychildren learn better, ond we make no opologyforensuring that happlne5S is a priorlty in ourschool. The school's mantra is.. Nurture- Thrive- Succeed The school prides itself on- Being a family-oriented, nurturlng environment, with values at its heart. Providing high-qualr(y enrichment opportunities and value added for pupils. The school aims to create a stimulating and happy environment of trust and support in which all pupils are encouraged and enabled to develop their skills, talents. Interests and potential to the full- Intellectuallys physically and Spiritually. regardless of social circumstances, age or religion: to provide a first-cla5s education, independent of the state 5y5tem, for boys Bnd glrls aged 2 to 13 years; to provide an environment, developing to the full each pupil'5 Iritellectual, sportlng, artistlc, musical, spiritual and social faculties, whilst ensuring that each child recognises that caring for others is also of utmost importance- to provide an envlronment where each pupil can develop and fulfil their potential In small class 51zes,' to produce well rounded individuals who. no matter what their stren8ths or weaknesse5 Tnay be, are able to contribute to a community that requires tolerance and understanding. It is important thal our alumni are of benefit to society as a whole- to strive for qualFty, excellence and the hlghest standards of education for all pupils; to provide awarm and caring communltywhere 211 member5 5howcommitment, courtesy, CWFeration, tolerance and compassion- to identify pupils, needs, settlng relevant tasks whlch will be re8ularly assessed to facilitate progress and fulfil their potential. to engender a spirit of learning so that pupils see education as a lrfelong process;
HAtSTEAD ST ANDREWIS KHOOL TRUST LIMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORn to offer a wide range of extra-turricular opportunitie5 and experiences,. to educate pupils to fit happily and confidently into their future schools,. to see ourselves as part of the wider community and adapt to meet the changing needs of Society. The Board of DI¢torS (who are the Governors and Trustees of the School) meet at least three times a year to determine mattèrs of gèneral policy. review its overall management and control and agree the School's stated objectives, lor which it is legally responsible. To achieve this, the Governors periodically review the strategic and finarTrcial aims of the school, monitor its progress against them, appoint the Head and Director of Finance / Dirèctor of Busine55 Operations (hereafter, Bursar), set fee rate5, agree cap¢tal expenditure, recommend and approve educational Policy and provlde general 5UPPOrt to the teachlng staff. Governo are appointed with relevant skills in the fields of education. èccountin& propertyi human resources, etc. New Governors are appointed by the Governors and suitable training is provided as required. Ex-parents are always encouraged to consider joining the Governors. The School is a member of AGBIS (Assaciation of Governing Bodie5 in Independent Schoolsl an association that supports the Governors and keep5 them fuliy informed of all regulatory changes. The day-to-day management of the School is delegated to the Head, Mr Andrew Ward and the Director of Financeloperations, supported by other teaching members of the Senior Leadership Team. Halstead St. Andrew's School 15 an active member of the Independent A550ciation of Preparotory Schools IIAPSI and the Independent Schools, Bursars Association IISBAI for the promotion and maintenance of preratory school standards generally. Sinte the merger, total pupil numbers are lower as the sertor has experienced signrficant change, with shift5 in parent financesi priorities and beliets about what best supports thelr child's development and education {e.g. some parents of daughters opting for a 5ingle-sex school environmentl- We continue to ensure the school is operating on an efficient and fully unified basis following the merger. The Head has been very clear wlth his moss3ging around this point, w¢th an understanding that HSA has one ethos. REVIEW OF THE YEAR'S ACTIVITIES AND ACHIEVEMENTS In 2024-2025 HSA has provlded a rich education for the pupi15, who have achieved excellent academic results. We have been extremely successful in achieving the pupils. first choice senior school entry and produce excellent added value for a non-5elective school. Pupils have Eained Several stholarship awards across a range of schools and subjects. the occepted scholarships can be seen below.. Year School HSA Iremainingl HSA 1MaInIng) HSA Iremainingl HSA Iremainingl HSA Iremainingl Lord Wandsworth St Teresa's St Teresa's St Te$a'S Tormead Scholarshlp Academi Artx2 Drama Music Sports x 9 Dance Academic x 2 Dma Sports x 2 Drama Cranmore King Edwards Lord Wandsworth Lord Wandsworth RGS Guildford st Catherine's Sports Art Academic Drama Academic Academic
HAISTEAO ST ANDREW'S SCHOOL TRUST LIMITED ILIMITED BYGUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) We are extremely proud of the pupils and ?11 they have achieved in the academic year 2024-2025. It is a combinatlon of the pupils, commitment and ability as well as the excellent teaching that has produced such excellent result5. We belleve the relationship5 that develop between the staff, pupils and parents helps malntain high standards and a love of learnlng. Senlor School Destlnations 2024125 Year 6 Year 7 Year 8 Charterhouse Cranmo Frensham Hei Gordon's Guildford High Hoe Bridge Hurstpierpoint King Edward's Lord Wandsworth RGS Guildford St Catherine's St John'5 St Teresa's Tormead Wellington hts The 2024-2025 academic year was another highly Successful and vibrant year for Halstead St Andrew's, with pupils beneffting from a wide range of educational, sportin& creatlve and enrichment opportunities. Throughout the year, puplls enjoyed an extensive proBramme of educatiortal visits and residential experiences that enhanced classroom learning and helped develop confidence, Independence and resilience. Educational visits included trips to Butser Ancient Farm, the Roald Dahl Museum, Hever Castle, Portsmouth Hlstoric Oockyard, Winchester Science Centre, Kew Gardens, the Seven Sisters coastline, local places of worship and theatre visits inclu(ling Matilda the Musical and The Lion, The Witch ènd The Wardrobe. Pupils also benefited from visitlll8 speakers and specialist workshops, including alurnni presentations, storytelling workshops and scholarshSp prepzration seminars. Residential experiences remained a key part of school life, with pupils vlslting the Three Peaks Centre. Oakwood Youth Centre, Ca15hot Artivities Centre, Hooke Court, Chateau de la Baudonniere in Normandy and the Dorset coast, each providin8 valuable opportunf(ie5 for personal growth and charatter development. Drama and the perforniing arts continued to play a signthcant role across the school. Parents and puplls enjoyed a wide variety of performances throughout the year including Year S's production of Jonah and the Whale, Year 4,5 Dr Oolittle and Monkey Mayhem, Year 6,5 production of Oliver Junior and the highly acclaimed Year 7 and 8 produrtion of School of Rock. The school also hosted services. concerts ond showcase events including the St Andrew's Day SeNice, Carol Services and a range of musical performances from choirs, ensembles and individual musicians. Pupils participated in opportunities beyond the school through events such as the Wellington Orchestral Day. Wellington College Choral Day and Epsom College Strings Day. Sport continues to be a major strength of the school and our commitment to a genuine sport-for-all ethos ensures that every pupll can represent the School. Pupils enjoyed extensive fixture programmes across a wlde range of sports and participated In numerous internal House competition5. There were notable successes in football, hockey, netball, athletics and swimming. Particularly pleasing was the rforManCe of the Year 6 relay team, who qualified for the En8land Schools National Swimmitsg Finals and flnished seventh in the country. Pupils a150 represented the school with distinction at district athletics competitions, with several achieving quallflcation standards for higher levels of competition. Alongside these achievements, many pupils tontinued to participate in county, regional and natM)nal performance pathway5 across a varlety of sports.
HALSFEADST ANDREW'S SCHOOL TRUST LIMITED (LIMrrED BY GUARArirEEI GOVERNORS, REPORT (INCORPORATING THE sfRATEGIC REPORT) Sports Days, swimming galas and House competitions remained highlights of the School calendar and were extremely well supported by pupi, parents and staff. The House system continues to be central to school life, tostering a stronB sense of belongin& he3hY competition and community spirit. House football, hockey, athletics, swimmin& cross- country, cricket, tug of war, bowling and general knowledge competitions all contributed to another suceessfvl year of House competition. Charfty days organised through the Houses continued to 5UPPOrt a ran8e of worthwhile causes whilst also developing leadership opportunities for older pupils. The school's enrlchment programme continues to expand and offer5 pupils a wide ranEe of opportunities beyond the classroom. Activities throughout the year induded mvsic, drama, debatln& chess, outdoor learning. sport, creative arts and academic enrichment. Pupils achieved success In several external competftSons, Includlng the World Scholar's Cup, Mathematics competitions an(1 LAMDA examinations. These opportunities help develop confidence, curiosty and a lifelong love of learning. Pupil leadership remains an important aspect of school Ilfe. Through the School Council, Eco Countil, House Captaincy system and è growing range of leadership positions, pupils are encouraged to contribute meaningfully to the development of the school community. The school contlnues to place sigfirficant value on pupil voice and the Positive influence that pupils can have on shaping their environment. Environmental awarene55 rernalned a 51ron8 focus throughout the year as highlighted by the Eco Council Initiatives. The school continues to provide bur5arial support as an important element of its educational mission. Halstead St Andrew'5 remains committed to widening access to tts education and supporting families where possible. The school firmly believes that education has the power to transform lives and takes seriously wts responsibility to ensure that opportunities are available to talented pupils from a broad ran8e of backgrounds. The year also saw continued development of the school's facilities and strategic direction. Followlng the successful merger of Halstead and St Andrew's, further work was undertaken to strengthen the school'5 provision and prepare for future development. These improvements. alongslde contlnued investment In teachln& learning and enrlchment, ensure that Halstead St Andrew's remains well positioned forthe tre whilst maintaining the carin& famlW<entred eth05 that lies at the heart of the school. RELATIONSHIPS, COMMUNITY UNKS AND PUBUC BENEFIT The Directors operate a policy of maintaining and fostering relationships and links with the wider community, to assist in demonstrating appropriate publlc benefit and the Director5, awarene55 of relevant Charity Commission guidance, but also to optimise the use of the School's sporting and other facilr(ies by the local community. In particular, this policy is de5i8ned to awaken In our pupils a social awareness and to educate them in attive citizenship and personal responslbllity. The school allows Its facilitSes to be used by the following organlsations- Appear Autistic Girls group. Wokin8 and Horsell Crickel Club - youth teams. The school hosts an Snter schools football tournament with five local primary schoo15. a netball tournament wf(h flve local primary schools and a hockey tournament wtth local schools. The School works with various local organlsations to prornote their work. Our Dirertor of Music ha5 run a year 2 choir event for local state Primary schools. Maybury school have visited to take part in various workshops.
"HALSTEAD ST ANDREWS"SCHOOL TRu¥fLIMrrED (LIMITED BY GUARANTEE) GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORT) The following is a comprehensive list of charities supported and monies donated last year: Orchard House Charity (Youn8 Minds Trust) St Mary'5 Church Hor5ell Children In Need Just Giving Enthuse Save the Children Royal Geographical Society Horsell Common Presetvatlon Society Castle House Charity {Homestartl Heath House Charity (Surrey Wildlife Trust) Ukrainian Embassy £l,OJ6 £300.36 £502.76 £91.5 £300.35 £267.9 £180 £10 £949.4 £873.02 £768.25 These measures implicitly fulfil our aims and objectlve to provide educatlonal support to the wider community. All of these artivities enhance the School's local reputation for excellence and contribution to the local community and accordingly. the Directors consider that the School has complied with the duty In section 4 of the Charitles Act 2006. FINANCIAL REVIEW AND FiJfuRE SUSTAINABIUTY Thè school has reported operatlng deficits in the current and prior financial years because of a combination of challenging economic conditions, increasing staff and operating costs, and pupil number presSus. The level of unrestricted reseNes available to support the school's activilies has reduced and Bovernors have taken correctlve actlon to create sustainability over the longer term. The Governors have undertaken a comprehensive reviewofthe school's financial position, operating model and future strategy. Followin8 this rèview, the Governors concluded that the disposal of one of tts site5 and a non-core property asset represented the most appropriate mean5 of providing the school with the financial flexibility required to Implement its strategic plans and secure Sts long-term future. After the year end, contracts were exchangedlcompleted forthe sale of the properties. The proceed5 of the disposal will strengthen the school's balance sheet, provide additional working capital and support the implementation of a revised and more sustainable operating model. Thls Includes measures to ali8n the school's cost base with projected income levels and to ensure that resoijrces are focused on the delivery of high-quality education in a financially Sustainable manner. The Governors acknowledge th? financial challenges experienced during the last two years. and note that such thallenges are widespread in the independent school sector at this time. They believe that the actions taken, together with the funds generated from the property disposals, provide a realistic basis for restoring financial stability. The Governors cor)tinue to monitor performance closely against budget and cash flow forecasts and are confident that the school Is appropriately posltloned to operate as a going concern whil@ implementing its revised gtrategic plan. RESERVES POUCY The Dlrectors consider it essential that the School should have adequate reserves to ensure its financial Security an(1 to enable the school to provide a full education to r(s pupils. Such reserves will be invested primarily in improvingthe facilities of the School, with appropriate amounts held in short-term bank deposit accounts to provide for future contlngencies. The completion of the property sales will materially improve the schoofs reserves, at which polnl the reserves policy will be further reviewed.
HAtSTEAtsST"ANDREWS SCHOOL TRtisr LMTED (UMITED BY GUARANTEE) GOVERNORS. REPORT (INCORPORATING THE STRATEGIC REPORT) PAY POUCY FOR SENIOR STAFF The Directors who are the Trust's trustees. and the senior le2dershlp team comprise the key management personnel of the charity in charge of directing and operating the Trust on a day-to-day basis. All Director5 give of theirtime free and receive no remuneration in the year. The pay of the senior staff is reviewed annually. In view of the nature of the charity, the Directors benchmark against other independent schools of similar size and location by takin8 part in the Baines Cutler triennial review of teaching staff 5alarie5 and the AGBIS annual Heads and Bursar's salaries. RISK MANAGEMENT The Oirectors have a rlsk management strate8y comprSslng a termly review of the principal risks fad by the ¢harity, the establishment of policies, systems and procedures to mitigate those risks, and the implementation of procedures designed to minimise or manage the potential impart on the charty should those risk5 materialise. The main risks identified, and the procedures in place to mf(igate them, ore as follows- l. A deCase In demand for places and a corresponding reduction in fee income The Governors recognise that any reduction in pupil numbersi pupil retention or demand for places would adversety affert fee income and the School's financial resilien. This risk 15 mitlgate(I through a welpplanned admissions and marketing strategy, regular open events, monttoring of enquiry-to-registration conversion rates, retention data and relevant competitor and tontextual Information. Admisslon5 and marketSng performance is reported to the Education CommTttee and VieWed by the Board of Governors on a termly basis. Cash flow projections and financial forecasts are prepared usin8 prudent assumptions. including conservative pupll- number assumptions and sensitivity analysis around pupil numbers, fee income and cost pressures. These projections are reviewed termly by the Finance and Property Committee and the Board of Governors, wtth corrective action considered where emerging IndS indicate a material risk to budget, reserves or future planning. Loss of charitable status, public benefrt Challenge or adverse change in charity ortax gulatIOn The Governors recognise the risk of challenge to the School's charttable status, public benefit provision or a55oEiated regulatory and tax treatment. The School mitigates this risk by keeping under regular review its charltable objerts, public benefrt artlvities, bursary provision, partnership work and compliance with Charity Commission reporting requirements. Public benefit is a standing item on ihe Governors, agenda and is considered when strategic, financial and operational decisions are made. The School also takes account of guidance from the Charity Commission, Companles House, its auditors and profes51onal advisers. and draw5 on sector guidance and briefings from AGBIS. ISC and ISBA. Governors continue to monitor legal, regulatory and policy developments affecting independent charitable schools. including sector-wide changes Slfch as VAT on school fees and the loss of business rates relief. The trustees. annual report explain5 how the School advances education for the public beneflt during the reportTrn8 period. Fallure of Care to pupils The Governors recDgnise that any failure In safe8uardin& pastoral care, health and safety. supefyi5ion or pupil wellbeing would present a serlous risk to pupils and to the School. This risk 15 mitigated throu8h clearly defined safeguardin& pastoral, behaviour, anti-bullyin& health and safety, educational visit5, complaints and whistleblowlng policies, whith are revlewed regularly and updated in line with statutory gurdance and regulatory expectations.
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED ILIMrrED BYGUARANfEE} GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) Implementation 15 overseen by the Head, the Designated Safeguarding Lead, the Deputy Head, Heads of House and form teachers, supported by regular staff training, safer recruitment procedures, monitoring of concerns and ppropriatè escalation routes. Governors maintain oversight through nominated safeguarding governance, regular reports to the Board, review of policy implementation and scrutiny of any significant 5afeguardin& pastoral or welfare trends. The School's approach is informed by ISI expectations, Statutory safeguarding guidance znd the Independent School Standards. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the directors are aware. there is no relevant audit information las defined by the Companies Act 2LK)61 of which the CoMpanS auditors a unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the companvs auditor5 are aware of that information. AUDOR5 TC Group have agreed to be appointed as auditors for the forthcoming year. This report has been prepared in actordante wf(h the special provisions of the Companies Act 2CQ6 relating to sm311 companies. BY ORDER OF THE 80ARD L Pytel, Chair of Governots Dated 22 July 2026
HALSTEAD sr ANDREWS SCHOOL TRtJST LIMITED GUARA£1 STATEMENT OF GOVERNORS, RESPONSIBILITIES The Governors, who are also the dirertoys for the purpose of company law, are responsible for preparin8 the Governors, Report and the accounts in accordance with applicable law and United Kinsdom Accounting Standards (United Kingdorn Generally Accepted Accounting praCte), includlng Flnanciol Reporting Standard FRS102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland,. Company law requires the Governors to prepare atcounts for each financlal year which give a true and fair view of the state of affalrs of the charf(able company and of the incoming resources and application of resourtes. including the Income and expenditure, of the charStable company for that year. In preparing these accounts, the Governors are required to: select suitable accounting policies and then apply them consistently,. observe the methods and princlples in the Charities SORP,. make judgements and estimates that are reasonable and prudent. and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will contlnue in operation. The Governors are responsible for keeping proper accountirg records that disclose with reasonable accuracy at any time the financial position of the chariiable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS We have audtted the financial Statements of Halstead St Andrew's School Trust Limited I'the charitable company'l for the year ended 31 Au8USt 2025 which comprise the Statement of Financial Activf(ies, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a sumrnary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5, including Financlal Reporting Standard 102 The Financial Reporting Standard applicable In the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our oplnlon, the financial 5tatements- give a true and fair view of the state of the charitable companvs affairs as at 31 August 2025 and of it5 incoming resources and application of resou$ forthe year then ended; have been properly prepared in accordance with Unlted Kingdom Generally Accepted Accounting Practlce: and have been prepared in accordance with the requirements of the Companies Act 2W6. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are Sndependent of the charitable company in accordance with ihe ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have tulfilled our other ethical responsibilities In accordance wtÈh these requirements. We believe that the audti evidence we have obtalned is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditlng the financi81 statements, we have concluded that the governors, use of the going concern basis of accounting in the preparation of the financial statements is approprlate. Based on the work we have performed, we have not Sdentified any material uncertaintie5 relating to events or conditions that, individually or collectively. may cast significant doubt on the charitable company's ablllty to continue as a going concern for a period of at least twelve months from when the fSnancial statements are authurised for issue. Our responsibilities and the responsibilities of the governors with respert to goin8 concern are described in the relevant sertions of thls report. Other Snformallon The governors are responsible for the other Informallon. The other information comprtses ihe information included in the 8overnors' annual report, other than the financial statements and our audito$ report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwlse explicftly stated In our report, we do not exp$5 any form of assurance conclusion thereon.
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMITED BYGUARANTEEI REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS 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 infomiation 15 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 inconsistencie5 or apparent material misstatements. we are qUired to determine whether there is a material mlsstatement in the financial statements or a material mi5Statement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to rep)rt that fact. We have nothing to report in this regard. Opinlons on other matters prescrlbed by the Companies Art 2006 In our opinion, based on the work undertaken In the course of the audit.. the informatlon given in the governor5, report lincurporating the strategic report) for the financial year for which the financlal statement5 are prepared is consistent wlth the financial statements; and the direclor5' report has been prepared in accordance wfth applicable legal requirements. Matters on which we are required to report by ex¢eptlon In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material mlsstatements In the governors, report Ilncorporating the strateglc report). We have nothing to report in respect of the following matters in relation towhich the Companies Art 2CM)6 requires us to report to you rf, in our opinion.. adequate accounting records have not been kept, or returns adequate for ouraudit have not been received from branche5 not visited by us; or the financial statements are not in agreement wfch the accounting records and returns: or rtain disclosures of directors, remuneration specified by law are not made,. or we have not receNed all the informatlon and explanatlons we require for our audit. Responsibilities of gr)vernors As explained more fully In the governors, responsibilitie5 Statement, the governors Iwho are also the direttors of the charitable company for the purpose5 of company lawl are responsible for the preparation of the financial statements and for belng satisfied that they gwe a true and fair view, and for such internal control as the governors determine 15 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 governors are responsible for assessing the charitable compan5 abllity to continue as a going concern, disclosin& as appllcable. matters related to going concern and usin8 the going concern basi5 of accounting unless the governors either intend to liquidate the charitable company or to cease operations. or have no realistic aiternative but to do so. io
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMrrED BYGUARANTEE) REPORT OF THE INDEPENDENT AUDITOR5TO THE MEMBERS Audilorfs respon51biliti•s for the audlt of the financial ststements Our objectives areto obtaln reasonable assurancè about whether the financial statements as a whole are free from material mi55tatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinlon. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in zccordance with ISAS IUKI will always detect a material missiatement when it exist5. Misstatement5 can arise from fraud or error and are considered materlal if, individually or in the a8gre8ate, they could reasonably be expected to influence the economic decision5 of users taken on the basis of these flnantial statements. Irregularities, including fraud, are instances of non-compliance wSth laws and regulation5. The extent to which our procedures are capable of detecting irregularttie5, including fraud, is detailed below. Extent to whlch the audit was considered capable of detect5ng Irregularilies, Includin8 fraud The objectives of our audit, in respect to fraud, are.. to identify and assess the risks of material misstatement of the fillancial statements due to fraud: to obtain sufficient appropriate audit evidence regarding the assessed rlsks of material mi5Statement due to fraud, through designing and implementing èppropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follows: We identified areas of laws and regulations that could reasonabty be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management las requlred by auditing standards), and discu55ed with the directors and other manègement the policies and procedures regarding compliance with laws and regulations; We identified the following areas as those most likely to have such an effect: health and safety* General Data Protection Regulation IGDPRI. Iraud; bribery and corruption, school in5pettions, keeping children safe in education (statutory guidance). DBS checks and employment law. Auditing standards limit the required audit proceduresto identlfy non-compliance with these laws and regulations to enqulry of the trustees and other management and inspectlon of regulatory and legal correspondence. if any. The identrfied actual or suspected non-tompliance was not sufficiently significant to our audit to result In our response being identrfied as z key audit matter. We consldered the legal and regulatory frameworks diredly applicable to the financial statements reporting framework IFRS 102 and the Companies Act 2006 and the Ch?rf(les Act 20111 and the relevant tax compliance regulations in the UK- We considered the nature of the charitable C0rnpanS operations, the control environrnent and buslness performance, including the key drivers for managemenys remuneration,. We communicated identified laws and regulations throughout our team and remained alert to any indlcations of non-compliance throughout the audit,. We considered the procedures and controls that the charitable company have established to addre55 risks identified, or that otherwise prevent, deter and detect fraud.. and how senior mana8ement monrtors those procedures and controls. li
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED {UMITED BY GUARANTEEI REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was ton5idered to be higher, we performed audit procedures to add55 each identified fraud risk. These procedure5 included-. testing manual journals: reviewing the financial statement disclosures and testin8 to 5UPPOrting documentation. performing anafytical procedures,. and enquiring of management. and were designed to provide re8sonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit, there is gn unavoidable risk that we may not have detected Some material misstatements in the flnancial statements, even though we have properly planned and performed our udit in accordance with audtting standards. For example, the further removed non-compliance wf£h laws and regulations lirregularitiesl is from the events and transartions reflected in the financial statements, the less like the inherently limited procedures required by auditing st3n(lards would identify it. The risk is also greater regarding irregularities occurrin6 due to fraud rather than error, as fraud invofves intentional concealment, forgeryi collusion, omission or misrepresentation. We are not responsible for preventlng non-compliance and cannot be expected to detett non-compliance with all laws and regulations. Use ot our report This report is made Sole to the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2(K)6. Our audit work has been undertaken sothatwe might statetothe charitable companrfs membeis those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibllrty to anyone other than the charf(able company and the charitable company's members as a bv, for our audit work, for this report, or for the opinions we have formed. Mark Cummins FCCA {Senior for and on behalf of TC Group Statutory Auditors Office.. Sussex tutory Auditar) 12
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED {UMITED BYGUARANTEEI STATEMENT OF FINANCIAL AcrivrriE5 IINCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST2025 INCOME FROM: Donatlons and le8acies Investments Charitable ?ctNlties Other income Total Income 2025 2024 Notes 11,182 11.387 5,866,742 10,099 5.899.410 16,167 6.304 6,402,539 9,439 6,434,449 EXPENDITURE ON.. Charitable activÉties Total expendlture io 6,869,531 6,869,531 7,395,675 7,395,675 Net movement in funds 1970.121) 1961,2261 Fund balances brought forward 20 5,420,395 6.381,621 Fund balance5 at carried fonvard 20 4A50,274 5,420,395 All income and gains forthe year are recognised above. All the school's activities otherthan those identified above are classed a5 continuin8. The Statement of Financial Activities also complies with the requirements for an income and expendlture account under the Companies Act 2Crt)6. All income and expenditure in the current year is unrestricted. 13
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMrrED BY GUARANTEE) BALANCE SHEEr AS A T31 AUGUST2025 2025 2024 Notes FIXED ASSErs Tangible assets 13 8,280,797 8,826,873 CURRENT ASSErs Debtors Cash at bank and in hand 14 1,765,743 8.318 1,774,061 1,194,814 1,449,967 2,644,781 CURRENT LIABIUTIES Creditor5 due within one year 15 (3,216,929) 13.084,044 NETCURRENTUABIUTIES (1,442.8681 1439,2631 TOTAL ASSETS LESS CURRENT LIABIUTIES 6,837,929 8,387,610 LONG TERM UABIUTIES Creditors due after one year 16 12,387,655) 12,967.2151 NET ASSETS 4,450274 5.420,395 REPRESENTED BY: 20 UNRESTRicfED FUNDS 4,450,274 5,420.395 4,450,274 5,420,395 The notes on pages 16 10 25 form part of these financial statements The accounts were approved by the Board of Governors and sisned on their behalf by- Governor Date: 22 July 2026 Company Number-01942216 14
HALSTEAD ST ANDREWS SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST2025 2025 2024 Notes Cash flow5 from operatlng activities: Net income for the year Adjustments for: Depreciation charges Interest paid Interest received Increase in debtors Increase/ldecre?sel In creditors (970,121) 1961,2261 13 io 278,646 153,860 {11,3871 {570,9291 1393,231) 276,816 158,592 16,3041 1975,1531 2,498,827 14 15,16 1543,0411 1.952,778 Net cash provided by operatlng activities 11.513,162) 991,552 Cash flows from investing artivltks: Interest reIVed Purchase of tangible fixed assets VAT reclalmed on fixed assets Net cash used In Snvesting artivitie5 11,387 157,3511 324,781 6,304 176,3051 13 13 278,817 170.0011 Cash from flnancing artivitie5: Interest paid Repayment of borrowings Net cash used In flnancing actlvltles io 1153,860) 153,444) 1158,5921 148.0271 1207.31YII 1206,6191 Increasel{detreasel In ¢ash and cash equlvalents In the year Cash and cash equlvalents at the beglnning ol the year Cash and cash equivalents at the end of the year 11,441,649) 714,932 1,449.967 735,035 8,318 1,449,967 Analy* of netdeté Cash at bank and in hand 8,318 1,449.967 Bank loan within one year Bank loan after one year 147,1701 (42,1091 {1.942.7981 11,890,567) Net debt 11.929,4191 1534.9401 15
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 STATUTORY INFORMATION The charlty is 3 char*table company, limited by guarantee, registered in England and Wales. The registered office, company number and charity number arè detailed in the Legal and Administrative Inform3tion. ACCOUNTING POLICIES 2.1 Ba$ls of accounting The financial statements have been prepared under the Companies Act 2006. The Charities Act 2011 and in accor(Jance with the Charitles, Statement of Recommended Practice ISORP IFRS 10211 and Financial Reporting Standard 102. The chèrrtable company meet5 the definition of a public benefit entity under FRS 102. Assets and liabilitles are initially recognized at C05t or trènsaction value unless otherwise stated in the relevant accounting policy. After reviewinB the charf(y's forecasts and projectlons, the Govèrnors have a reasonable expectation that the harity ha5 adequate resources to continue in operational existence for the foreseeable future. The charty therefore continues to adopt the going concern ba515 in preparing it5 financial statements. In reachlng thi5 conclusion. the Governors note their decision to dispose of the property asset at Woodham Rise, Wokin8 following the con501idation of the school onto a single site. subject to fulfilling the obligatlons under the Charities Acl. This significant post-balance-sheet event wlll materlally improve the school's reserves and facilitate the redemptlon of long-term loan commitments. In turn this will allow the school to rebalance its operating model to achieve stability and sustainabilty in the future. 2.2 Income Fees receivable and charges for seNic@s, less any allowances, scholarships and bursaries granted by the school against those fees ere accounted for in the period in which the servlce is provided. Where fees are received for future service period they are included in deferred income. Investment Income is accounted for on an accruals ba51S. Donations, le8acSes, grants and other voluntary income are accounted for as and when entitlement arises. the amount can be reliably measured and the economlc benefit is consldered probable. Where a donororan appeal has imposed restrictions the income is credited to 3 restricted fund. 2.3 Expendlture Expenditure is accounted foron an atcruats basss wh irrecoverable VAT Included with the item to whKh it relales. Redundancy and termination payments are charged to the Stitement of Financial Attivities on an accrua15 basis. Govemance costs include those costs associated wrth meeting the constitutional and statutory requirements of the Charity and include the audit fees and costs linked to the strategic management of the charity. All costs are allocated between expenditure categories and departments on a basis designed to refleLt the use of the resource. Costs relatingto a particular actNty are allocated dIrt. 16
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMITED BYGUARANTEEI NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 ACCOUNTING POUCIES {¢ontinuedl 2.4 Tangible fixed assets and depreciation Tangible fixed assets other than freehold land a stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over tts expected useful Ilfe as follows.. Freehold building5 Buildings on leasehold land Fixtures and fittings Motor vehicles - 2% on cost - Strai8ht line over 10 years - 2(PA on cost 25% on cost The school has a general capitalisation policy of £l,OW. However, the school's Policy is not to capitalise any property improvement lated expendlture under £lO,CI)). The Governors are satisfied that the market value of the freehold land and building5 15 in excess of value at which they are stated in these financlal ststement5. 2.5 Penslons Since l January 2021 the school has contributed to the Aviva APTIS scheme forTeachers. The school also Contributes to personal pension schemes for its non-teaching staff. 2.6 Cash at bank and In hand Cash at bank and in hand incluiles bank accounts, cash and short terni high liquid investment5 Wfth a short maturity of three months or less from the date of acqui51tion or opening of the deposlts or similar account. 27 Creditors and provisions Creditors and provisions are retognised where the charty has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. 2.8 Debtors Trade 4nd other debtors are recognlsed at the Settlent amount due. 2.9 Fund accounting Generalfunds and unrestrieted funds are available for use at the discretion of the Governors In furtherance of the general objectives of the charity and have not been desi8nated for other purposes. Restricted funds a funds which are to be used in accordance wlth specific restrirtions Imposed by donors or which have been raised bythe charlty for particular purpos@s. The Cost of raising and a(Imini5tering such funds are charged against the specific funds. 17
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED IUMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST2025 ACCOUNTING POLICIES (c¢tInued) 2.10 Critical accounti1 estlmates and judgements In the application of the charity's accounting policies, the Governors ?re required to makejudgement5, estimates and assumptions about the carrying amount of assets and liabilitie5 that are not readily appant from other sources. The estlmates and ass¢ciated assumptions are based on historical experience and other factors that ?re considered to be relevarrt. Actual resutts may differfrom these estimates. The estimates and underlying assumptions are reviewed on an on80ing basis. Revisions to accounting estimat are recognised in the period in which the estlmate Is revised. The governors do not conslderthatthere are any critical estimates or areas of judgementthat need to be brought to the attentlon of the reader5 of the financial statement& TURNOVER The turnover of the School is wholly attrlbutable to the objects of the school as stated in the Governors, Report and is earned entirely wrthin the UK. INCOME/{EXPENDITVRE) 2025 2024 This is after charging.. Depreciation Auditors, remuneration 278.646 15,200 276,816 13,2(K) TAXATION The charltable company is registered as a charf(y and all of its income falls within the exemptions under Part 11 of the Corporation Tax Att 2010. INCOME FROM DONATK)NS AND LEGACIES Total 2025 Total 2024 Donations 11,182 16.167 INCOME FROM INVESTMENTS Total 2025 Total 2024 Interest IL387 6,304 18
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 AU6UST2025 INCOME FROM CHARITABLE ACTIVITIES Totsl 2025 Total 2024 Gross school fees Less bursaries and allowances Net school fees Add.. 5,982,848 1453.921 5.528.927 6,590,050 1410,6181 6,179,432 Extras income Registration fees After school clubs Easter and Summer comps Other income 227.245 7.637 53.604 5.945 43,384 5,866.742 87,788 8,3 73,387 18.336 35,296 6,402,539 OTHER INCOME Total 2025 Total 2024 Sundry income 10,095 9,439 10,099 9.439 io ANALYS15 OF EXPENDITURE staff costs Depreclation Other costs Total Total Z025 2024 Charitable expÈnditure: Education Teachin8 Welfare Premises Support and 8¢)vern?nce 3,661,472 365.246 754.791 834,498 445.418 426,718 7SS,731 1,234,347 852,735 4,343,099 823,815 1,233,949 994,812 121,203 407,317 278.646 Total expenditure 4.190,932 278,646 2.399.953 6,869,531 7,395,675 19
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 io ANALYSIS OF EXPENDITURE Icontlnuedl Analysis of support and 8overnance costs: Total 2025 Total 2024 Governance costs- Current auditors, remuneration for aud((5eNices Accountancy seryices Governors, expenses Total governance cost5 15,200 8,329 13,200 4.118 80 17.398 23,529 rt costs: Printin& postage artd telephone Legal and professional fees relating to support Support staff wages, national Insurance and pension Advertising and marketing Interest payable 33,849 43,806 407,317 50.543 153,860 63,072 25,556 51,203 829,206 53.105 117,708 380,376 59,312 158,592 85,242 71,355 51,724 977,414 Bad debts Other support COSt5 Total support and 8overnance 852.735 994,812 li STAFF COSTS The average monthly number of employees during the year was.. 2025 Number 84 2024 Number 92 Teaching Premises Household support li li 99 108 The aggregate payroll costs for the year were as follows.. 2025 2024 Wages and salarles Social security costs Other pension costs 3,463,669 349,234 378.029 3,686,316 338,157 407,958 4,190,932 4,432,431 None of the governors received any remuneration or other beneflts from the school or any connected body. No Governors12024'. one) had expenses reimbursed in the amounts detailed in note 10. 20
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED ILIMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 li STAFF COSTS Icontinuedl staff paid in exces5 of £60,K) per annum in the following bands are.. 2025 Number 2024 Number £60,0(K)- £69,999 £70,000- £79,999 £IOO,OLNJ- £109,999 £130,000- £139,999 of the employees whose emoluments exceed £60,000, four12024- six) hwe retirement benefits accruing under defined contribution schemes. Total contrlbutiorbs payable by the school to those scheme5 for higher pald employees were £62,53812024.' £66,778). The key managernent personnel of the school comprise the Headmaster, the Bursar and teaching staff on the Senior Leadership Tearn. 2025 2024 Aggregate employee benefrts of key management personnel (including employer pension contributions) 642,066 614.378 Wages and salaries include5 £29,98712024: £117,984) of redundancy costs. 12 COMPARATIVE STATEMENT OF FINANCIALACTIVITIES- 31 AUGUST 2024 Total 2024 INCOME FROM: Donation5 and legacie5 Investments Charitable activities Other income Total income 16,167 6,304 6,402,539 9,439 6.434,449 EXPENDITURE ON., Charitable activities Total expenditure 7,395,675 7,395.675 Net Incomellexpenditurel and movement in fund5 1961,2261 Fund balances brought forward Fund balance5 at carried forward 6,381,621 5,420,395 21
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 13 TANGIBLE FIXEO ASSETS Freehold Property Leasehold Buildings Flxtures & Flttings Motor Vehicles Total Cost At I September 2024 Additions 4,697.413 2.204 5,531,585 29,670 1324,7811 5,236,474 646,499 25,477 105,889 10,981,386 57,351 1324.7811 10,713.956 VAT reclaimed At 31 August 2025 4.699,617 671?76 los89 Depreciation At I September 2024 Charge for the year At 31 August 2025 244,865 97,5¢)4 342.369 1,543,395 90,815 1.634.210 266,145 84,546 100.108 5,781 105,889 2,154,513 278,646 2,433,159 350,691 Net book value At 31 August 2025 At 31 August 2024 4,357,248 3.602,264 3,988,190 321.285 8,280.797 8,826,873 4.452,548 380,354 5,781 14 DEBTORS 2025 2024 Fee debtors 1,152,205 331.983 281,555 1,765,743 1,078,256 94.828 21,730 1,194,814 Prepayments and accrued income Other debtor5 22
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (UMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMEMfs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 15 CREDrroRS: due wlthln one year 2025 2024 Trade creditors 712,444 278,454 256,415 1.916,172 47,170 6,274 214,192 158,272 Other creditors aftd accruals Social security and othertaxes Fees in advance and deferred income Bank loans (see note 181 Finance lease 157,579 2.505,618 42.109 6,274 3,084,044 3,216.929 Fees In advance and deferred income includes £1,464.099 12024- £1,518,827) in respect of amounts due for Autumn term 2025. 16 CREDITORS.. due after one year 2025 2024 Pupil deposits Fees in advance and deferred income Bank loans (see note 181 Finance lease 17&050 313.454 I,8),567 5,584 217,115 795,444 1,942,798 11,858 2,387,655 2,967,215 17 ADVANCED FEES PAYMENT SCHEME PaTrts may enter Into a contract to payto theschool tuvtion fees in advance. The money may be returned subject to specific conditions upon the reIpt of one term's notice. Assuming pupils will remain in the school, advance fees will be applied as below. 2025 2024 Due within one year Due in more than one year 452.073 986,791 795,444 313.454 765,527 1.782.235 23
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 18 BANK LOANS Bank loans are wholly repayable in instalments as follows: 2025 2024 Less than one year In more than one year but less than fwe years Ir? more than five years 47,170 188,681 1.701.886 42,109 168,434 1,774.364 1.937.737 1,984,907 The bank loan is secured against all of the property and undÈrtakings of the charitable company. The bank loan Is due lo mature in October 2043, it ha5 a floating interest rate with a mar8in of 2.75%. 19 PENSION COMMITMENTS The school contributes to defined contribution schemes on behalf of its staff. Employer contributions payable to those schemes were £378,029 I2024.- £407.9581 and at the yearend £105,22312024- £53,261) was accrued in respert of contributions due to those schemes. 20 SHARE CAPITAL AND CONTROL The company is limited by guarantee and does not have any share capital. In the event of a wlnding up each member guarantees to contribute an amount of no more th3n £1. 21 RELATED PARTY TRANSACTIONS There were no related party transactions in elther 2025 or 2024. 22 COMMITMENTS UNDER OPERATING LEASES At 31 August 2025 the school had total commitments under non-cancellable operating leases as follows.. 2025 2024 Wtthin one year Between one and five years In more than five years 270.997 1.083,988 4,335,952 270,997 1,083,988 4,606,949 5,690,937 5.961,934 24
HALSTEAD ST ANDREW'S SCHOOL TRUST LIMITED {UMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 23 COMMITMENTS UNDER FINANCE LEASES At 31 August 2025 the school had the followlng finance lease commitment with future minimum lease payments of 2025 2024 Within one year Between one and five years 6,274 5,584 6,274 11.858 11,858 18,132 Theschool has finance leases for a period of 5 years. The asset carrying value at 31 August 2025 was Ell,858. 24 POST BALANCE SHEET EVENTS On 12th February 2026, the School completed the sale of part of its Freehold Property, North Lodge, for a total consideration of £634,914. The property was carried under the cost model at a net book value of £242,383 at the balance sheet date. The traactIOn will result in a profit on di5tx)sal of approximatelv £392,531. In May 2026, the School a¢¢epted an offer for the sale of its Freehold Property at Woodham Rise, Wokin8 for a total consideration of £5,200.OtX), and entered an exclusivity period to complete the Sale in August 2026. 25