AEPORTOF THE TRUSTEES. STRATEGIC REPORT AND FINANCIALSTATEMEP4TS FOR THE PERIOD ENDEO 8 SEPTEMBER 2025 FOR aAYESMORE SCHOOL COMPANY No. 00359779 REGISTEREO CHARITY No. 306214 •AF30E9EG* OfAW2020 C(WAPANIES HOUSE A18 #104 CLAYESMORE SCHOOI INDEX TO ThE FINANaAL STATEMENT5 for the perkMI ended 8 Septernbef 2025 Page Company Informatlon Staternent by Inspired iearnir¥ Group Report oftheTrustees lin£ludiTr8 Strate8k Report) Report of ihe Independent A￿￿￿15 14 statement of Mnandal Pthvlties 17 Balance Shteo Cash Flow Statement 19 Notes to the Flnandal SlatemeDts CLAYESMORE SCHOOL CIXIPANY INFORMATION TRUSTEES MrSMShah Mr N R Patel Mi S Rid)ards (appointed 8 September 20251 lèppointed 8 September 20251 (appointed 8 September 20251 GOVERNORS & TRUSTEES Mr J l Andrew5 Mr5 R A P Stiven Mr W Bedford Mrs J 8rown Mr A Edwards (resigned 8 September 20251 Iresigned 8 Septernber 20251 Iresigned 27 November 20241 I￿S1£ned 8 September 20251 Iresi8ned 4 D￿ember 20241 Iresigned 8 Septernber 20251 Ifesigned 8 September 20251 IresigneL18 September 20251 Iresigned 18 March 20261 Iresigned 8 Septembef 20251 (resigned 8 September 20251 (resigned 8 Septembei 20251 (resigned 8 September 20251 Mrs F Deernin8 Mr D C Haywood Mr T Ingram Mr D Kirby Mr R shaw Mr M Su55man Mrs F Waller Mrs S Wilst KEV MANAGEMENT PERSONNEL EAD Mrs J SThomson BA MBA QTS- to 31 December 2025 Mrs N Jones IActin8 Heatll- from l January 2026 SEcR￿ARy & CLERKTO COVNCILI DIREcfoR OF FINANCE & OPERATIOMS Mrs N Bailey Phinn 84 FCA REGISTEREO OFFICE aaye5rn0re School Iwerne Minster Blandford Forum DTII 8LL REGISTEREO NUMBER c￿359779 CHARITY REGISTRATION NUMBÉR 306214 AUDITORS Fawcetts lip Chartered Accountants ond Stotutory Audito Windover House St Ann Street Salisbury SPI 20R BW4KERS Barclays Bank PLC 1-3 Haymarket Tower5 Humberstone Gate Leicester LEI IWA Lloyds Bank pk 6 Market Place Blandfofd Forum DTII 7ÉE The above Informati￿ relates iothe date of appro¥al of the5efinancial S￿rements CLAYESMORE SCHOOI STATEMENT ON 8EHAiF OF INSPIRED LEARNING GROUP lor the pwiod ended 8 Seplernber 2025 On behalf of Inspired Leamin8 Gioup. l am pleased to kyesent the financial staiements of Oayesmore School for the vear ended 8 September 2025. This financial year marked a si8nificant mc￿ent in the lon8 hist¢)ry of Clayesmore. culminating in the School joinin8 Inspired Learnin8 Group on 8 September 2025. The chan8e to ihe accounting ieference date reflects this important transltion in ownership and the beginning of a new chapter for the School. By the time of siBnifig these financial statements. Clayesmore has now completed twO$￿essfUl terms as part of the Group and has entered an exciting Trew phase in its de¥dopment. Clayesmore is a school wrth a distinttive charatter. strty)8 values and a deepty rooted Sense of community. From the o￿tset. our intention has been to pre5er¥e and strengthen those qualities whilst provitlin8 the lonB-term financial resilience. operational support and strategic investment required to ensure the School coniinues to thrive in an ncreasingly challenging independeni education settor. The wider sellor has expeiienced considerable pressure durin8this per*)d. intluding the introduction of VATon School fees from January 2025. increase5 in employer National In5uraDce contributions. inflaiionary pressures and wider economic uncertainly affettinB many families. These challenges have required schools across the country to adapt quickly and carefully balance affordabilily. sustainability and educational excdlence. ainst this backdrop. Ihe decision for Claye5more io i(xn Inspired Learnrng Group was ly)th stralegic and forwar Icx)kins. As part of a family of indepentlent xhools, Clayesmore now benefits frorn the 5trersBth. expertise and shared resources ol a larger organisation whilst retaining its own ideniity. ethos and educational approach. Since joinin8 the Group. st8nificani wrk h35 been undertaken to position the School for bng-term sustainability and futu￿ growth. This has included investment in opeTational infrastrutt￿re. strenuhened financial oversight and the continued development ol new initiatives and income streams desi8ned io broaden the School's offering and enhance pupil opportunities. Areas ol devek)pment include new immersion programmes, expanded swimming provision. the launch of a new nursery and additional Pre-Prep cla55es. tO8ether wilh wider community engagement initiatives, all of which support both educational enrichment and lon8-temi resilience. Ir15pired Learning Group remains firmly committed to a holistic educational philosophy. recognising that academic aCh￿e¥ement rnust sit alongside strong pastoral care. character development and the nurturing of individual ialent. Clayesmre's longstanding rep￿atIon for providing a well-rounded education ali8nS Strongly with thesevalues. and we are confident in ihe School's future within the Group. I would liketo place on record my sincerethanks to theGovernors. ￿adership team. teachin8 and support staff fortheir dedication, professionalism and commitment throu8hoLrt a period of svdnificant change. Their hard work has ensure(I conrinuity, stability and ortgoin8 SUPPOrt lor pupils and families during this important transition. Clayesmre enters the next sta8e of its history from a FrfJ5ition of optimism ènd oppJrtuTriiy. We are excited aboLrt the f4Jture and remain committed to investing in the School. supporting its community anLI buildinB upon the strong foundations that already exist. Amit Mehta- Diiector Inspired Leamin8 Group CLAYEWORE SCHOOL REPORT OF THE TRUSTEES forthe eDOed 8 September 2025 The 8oard of Trustees present their annual report. vthich includes their strate8ic report. *or the period ended 8 September 2025 under the Charities Act 2011. tOBether with the audited financial statements for ihe year. and confirm rhai the latter comply with the requirements of the Act. the Trust Deed and the Charities SORP. REFERENCE AND ADMINISTRATIVE IP4FORMATION Clayesmore School 15 registered with the Charity Commissioners for England and Wales Iregisrration number 3c￿214). It is incorporated and reBlStered in England and Wales underthe Companie5 AU as a company lirnited by guarantee and not having a share capital Icompany number 3597791. its current Mernorandum and Articles of A550Clation bein8 dated 12 June 2010. The Boaro of Trustees is responsible for the svategic owsight of aaye5more School. Our dutie5 include ensurin8 the sthool's financial health. upholding its mission and value5. and supporting the Head and Senior LeaLler5hip Teom ISLTI n deliverin8 an exceptional educational experience. Throughout the year. we have focused on governance best practices. risk mèna8ement. and long-term strategic planning. REVIEW OF ACHIEVEMErirs AND ACTMTIES OF THE YEAR Clayesrnore continue5to providea distinctive education founded on strongpasloralcare. academic arnbition and a wide ran8e of opportunities beyond the classroom. Durin8 the year, the ￿h0o1 rec*ved an excellent outcome frorn the Independent 5(hools Inspectorate IISII and successfully renewed its accreditation wth CAeSTeD, reco8nisin8theoualityof provisi￿ for Fxjpils with specifK learning needs. Academic achievement rernainetl stron& svpported iw a broad curriculum and the Schoofs cot3ining fee affordability for our larnilie5 and have thereFore keptfee increases toa minimum wherever possible. Additionally. recent legislative changes. including the introduttion of VAT. an increase in employer National InSurar￿ecOTrtnbutionS and the removal of business rates relief. are expected to further affetr our financial wtlty)k. Reser¥es Poliri The School's policy is to invest any surplus generated from the ruDnin8 of the SchcK•l in developing the buildings. equipment and resources of the School. Invtstment Policy The School's investmeni policy is decided by the Trustees in accordance with its Memorandum and Article5 of Association. Future Plans The ILG Group remain deeply committed to safeguarding Oayesmor¥s distinttive ethos. ensuring it continues unchanged. Thi5 eth05 focu5es on delivering an academically inclusNe. a11-thro￿h education fe?luring a flexible, diverse. and innovative turriculum desi8ned to support and challenge ￿ery pupil to achieve their full potential. Aeco8nisinE the importance of strong 8overnance in todavs educational landscape. the Goverws have developed a ctear st¥ate8ic plan to guide ihe School's fwure. Following thc tran*fef of the Sch(KTrl to ILG.the Charity will coniinuc to opcrnie wilh a clearfocus on advancing education and supportin6 pupils at ClayesrTKire. The Charity intends to utilise lis remainin8 fvnds over the comin8 years to provide financial a5SlStance and other charitable support to pupils who may benefit fvom addIt￿n31 help in accessing the opportunities available at the SthocA. The Trustees will continue to oversee the careful stewardship of rhese funds. ensuring ihat they are applied in accoféance ￿th ihe Charitvs objectives and for the benefit of current and future generaiions of Claye5mre pupils. CLAYESMORE SCHOOL REPORT OF THE TRUSTEES for Ihe period ended 85eptembw 2025 STRucfuRE. GOVERNAHCE AND MANAfjEMENTlyntll 8 septem1￿ 2Q25) Go¥*rnint Council The strurtureof the Charity until 8 Septernber 2025 consisted of a Goveming CouncTI, the key details of which, includin8 committee mernberships. are explained on Pa%e 3. Other committees and 5ub(ornrninees exist or are formed as necessary to deal with Health and Safety. Remuneration. Financial Matters and Safe8u8rdinB. The governors are trustees of the Charity aThd directors for the purpose5 of company law. and are legally responsible for the overall management and control of Claye5moreSchool. All 8o¥ernor5 gr¥e freelyof theirtime and do not receive remuneration for their roles. Organisational Management The governors mew at least three times a year as a full Cwncil." additional meetings may be called if necessary. Council provide5 overall direction. wth more detailetl review rnonrtoring then carried out by the Finance and General Purposes IF&GPI Committee. which also me*s at least three times a year. The Chair of the Governing Council is also currently Chair of the F&GP Committee. The other key committee5 are the Education Cornrnittee and the Heohh and Safety Committee. The Education Committees deal with academic. pastoral and teaching staff issues in Senior and Prep Schools and rnea terrnly. while the Health and Safety Committee dea15 wilh health and safety and cornpliance matters and also meets iermly. The day to day running of the school is delegated tr) the Head. supported by the Senior Oeputy. the Diwtor of Finance and Operations. the pastoral deputy and rhe academic deputy." 108eiher formin8 the EMT. The Head and Director of Finance and Operations attend all of the key governors. meetings and the DIr￿t0￿ of Finance and Operations is also Clerk to the Governi06 Council. The Head and Deputy Heads a150 attend sorne comrnittee5. in panicular The Education Committees. Additional committees. sub committees and working Éroups a￿ established for specific purposes as required. including the SafeEuardin£ Monitoring Group. the aaye5more Society Committee. and various Friends and Parents Associations. and include governors and staff as members. as appropriate. Staff members attending Council or Comrnittee5 do not do 50 as governors and are not permitted to bvte. (￿rIn8 this crucial deci5ion-rnaking period, the Council has met 5iBnificantly rI￿re often. ALlditionally, a dedicatetl Steering Group wa5 established tofocu5 specifica1￿0nthe futurestnxture of theschwl. meetingai leastonce a month. Rlsk Management The Go¥erninB Council is responsible for the mana8ement of risks faced by the School. The risk re8iSter is completed by ihe Director of Finance and Operations. along with other members of the School's management. and reviewed on a regular basis by ihe F&fjP Committee and Council. Risks are identified. assessed, and EMT establishes regular risk control ihrou8hout the year. Risk$ are assessed within fNe main categories.. strategic. operational (split beiween academic and sUPPOrtI. governance. financial and compliance. Safe8uardin8 and reputation are a150 considered as separate categories. even though they are often driven by the main five categories. The key controls used by ihe Charity include.. vettin8 Pto(edures as requi￿ by law for the prolett￿)n of the wjlnerable. and a comprehensive Safeguarding Policy. including regular training updates for all stsff and governors formal Terms of Reference. agendas. minutes and repyts for am Committee and Council attivityio focus discussM)n at the strategic level detailed terms of reference for all Committees. ensuring clear role5 and responsibilities comprehenswe strategic plannin& bwlgding and management xcouniin& wirh key performance indicators. enabling moniiorin8 and review of financial performance CLAYESMORE SCHOOL REPORT OF THE TRUSTEES for the pernd ended 8 September 1025 established organisational strvttures and limes of reportin& with regular reviews and appraisals formal written policies and prrxedure5. which are regulady reviewetl, toBether wtth regular staff trainin8 authorisation and approval processes. including segregation of d￿leS where appropriate daailed checks of essential compliance issues ieported at F&GP andlor Educati1*) Committees. Through the risk mana8ement prtxesses establisheé for ihe School. the governors are satisfied that the major risks identified are rnonitored have been adequately mitigaied where necessary and are addressed through the School's Strategic Development Plans. It is recognised that Systems can only proviLle reasonable but not absolute assurancethat major risks have been adequatety rnana8ed. Pay Policylor 5enity staff All 8overnorslirustees give of th￿r time freely. Expense5 were paid in the year onfy as detailed in the financial siatemenrs. No governors received bursary benefrt. The goverhtsrs consider the Council of the Schty)l and the EMT 10 comprise the key mènaEemeni personnel of the School in charge of and direttin8 and controllin8 the runnin8 of the Charity on a day-to-day basis. The pay of seniw staff IEMn is reviewed regularly by Counctl and benchmarked a5 required. 08JECTS. AIMS, 08JECTIVES Objects and Aims The Charl￿$ Objetts. as set out in its Articles of Asyxiation. are the advancement of education. includingthe provision of a co*ducational school. This is achieved through the provision of a day and boardin8 school in Iweme Minster for children from the age of seven to wahteen. The School's principal aim 15 to support and challenge every pupil to fulh"I their potential and contribute to the world with confidence. ambition and compassion. As such. aayesrnore is". a school committed to the principles of educating the'whole person. broadly acadernically inclusive, vthilst remaininÈ challengin8 and ambiiious all-throu&h, currently fcom age 7-18 a school in which children fromall nationalitie5 haveopportunr(iestodevelopacrossa rangeof dimensions including the physical. spiritual. moral, aesthetic and social a kind school rooied in Christian traditions a strong community whith enttwra8es lifelong networks. Oblecti¥es Clayesmore School is committed to becoming a sustainable centre for educational excellence. We want to be widely recognised as an innovative school which artively prOM￿e5 the personal development of pupils in an inclusive and 5tirnulatinB environment. Claye5more pupi15 will have a stron8 sense of ethical. moral. environmental and social responsibility and will go on to become people who will make a positive impatt on the lives of others. The khool therefore has a double rnission.. to provide an excdlent traditional edtKation as well as io pursue a deeper tfansfomiatioThal a8enda throu8h the tultivation of personal d￿elOPment. The real¢sation of this challenge requires a distinct and 5hareiJ rnethodolow based on stron& respectful relationships all members of the community. The vehicle used to deliver these personal development goals is known as'LEX'. In setting objectives and planning the Schod's aaivTiies the Governors and EMT have 8i¥en careful consideration to the Charity Comrnission's general guidance on public benefit. Development plannin8 continues at all levels, incltsding financial and bu5ine5S plans. as well as academic. pastoral and pupil development. to ensure the SchLN)Vs educational offering is fit for purpose sn n￿dern world. is financially sustaina￿e for the lon8 term and represents 8ood value for money fof parents. CLAYESMORE SC+IOOL .REPORTOF ThE fRUSfEES foff the perw ended 8 Septernber 2025 Strateglts to athleve our objerti¥ To continue to provide exell•it education and pastoral care in the broadest Sense. with clear Academic, Pastoral (specifically including boardin81 artd Pupil Development Plans. To continue to cater For pupils within a wide ability range. motivatin8 and strelchin8 the more able and offering learning support to young people where fieeded. To maximise the all-through nature of the School with Stronger links between Prep and Senior years and a shared ethos. To continue io enable thecurriculum to eV￿Ve to meet ihe educaiignal. spirifual. moral. technological and cultural needs of ihe pvpils. to help them io prepa￿ ￿￿e effettivdy for the world of work. and to achiÉve personal and economic well-being. To ensure strong and resilient leadership and mana8ement, wrih a fiKus on professional skills develgpment and 5ucces5ion planning. To ensure efficient Use of our facilit￿. re5tyJrces and stafPin& investing or making sawnes where necessary to ensure we create the best possible environrnent and facilities for teachin& learnin8 and working. To ensure acce55 to pupi15 from all backgrounds and rnean5. by reviewng the fee structure and by the pmision of means tested bursary places across the School. wilh links to other eoucational Trusts to provide additional funding where needed. To develop and maintain a hardship lund to help pupils meet the cost of school trips. examination entrance fees nd similar expenses noi covered by a bursary award, where needed. To continue and further develop our links tmth the v￿r cornmunity. including local schools. local residents. clubs. char*ties and local organisaiions. POLICIES Admission Clayesmore School welcornes pupils from all bxkgrounds. Entrance Interview￿ and assessments a￿ undertaken to satisfy parenis and the School ihat potential pupils will benefrt Irorn the edvcation anij environment proviLled. An individual'5 econorni£ st￿lUS. 8enLler. Sex. sexual orientation. ethnictty. race. relieion or belief. or di53bility do not form part ol our assessment Pfc61 of which the chariiable company's auditofs are unaware. and each governor has taken all ihe steps ihat he or She OU8ht to have taken as a trustee in order to make himsem or herself aware of any relevant audit information and to establish that the charitable company's auditors are aware of that inforrnation srATtMENT OF TRUSTEES RESPONSIBILITIES The trustees (who are also direttors of the companyl are reswjnsible for weparin8 the Report of the Trustees (which includes the Strate8ic Reportl and the financial staternents in accordance wth applicable law and Uriited Kin8iJom Accountin8 Standards Iunited Kingdom Generally Accepted Accountin8 Practicel. Company law iequires the tiustees to prepare financial statements for each financ￿1 year. wh¢ch give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. includin8 the income and expenditure. of the charitable company for that period. In preparing those financial Statements. the 8overnors are required to.. select Sultable accouDtin£ polic￿ and then apptythem consistentty observe the methods and principles in the Charities SORP 2015 IFRS 1021 make judgernent5 and estirnates that are reasonable and pwdent State whether applicable accounting standards have been followed. subiert to any material departures disclosed ané explained in the financial statements." and prepare the firTrancial staternent5 on a going (￿￿ern basis urkless it is inappropriate to wesume that the charitable company will continue in operatK)n. The governors are responsible keeping adequate accounting records. which disch)se with reasonable accuracy at any time the financial Posiiion of the cornpany and enable them io ensure that the financial Statements cornply with the Companies kt 2Ci16. They are a150 responsible for safe6uarttin8 the Jssets of the company and hence for taking asonable steps for the prevention and detertion of fraud and other irregularities. 12 CiAYESMORE SCHOOI AEPORT OF THE TRL•STEES forth* ￿rItid ended 8 September 1025 ON BEHALF OF THE BOARD OF TRUSTEES The irustees Iwho are also directors of the tornpanyl appr¢>ve the of the Trustees and the Strate8ic Report f the period ended 8 Septernber 2025. Approved and authorised for issue by the t*)ard and signed on its behalf by.. 05/06/2026 Mr N R Patel- Trustee Dale 13 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CLAYESMORE SCHOOL Opinion We have audited the financial statements of Clayesmore School (the 'charTtable cornpanVI for the pe￿0d ended 8 September 2025 which comprise the Statement of Financial Artivitie5, the 8alance Sheet. the Statement of Cash Flows and notes tothe financial staternent5. including S￿nIfIcant accounting policies. The financial reportingframework that has been applied in their preparatK)n is applKable low and United Kin8dom Accounting Standards. including FinanrmatioTr is materialty incon515tent with the fiDancial statements or our knowledge obtained in the courseof the audit or otherwise appears to be materially misstated. If we iéentify such material inconsistencies or apparent material misstatements. we are reouired to determine whether this gives rise to a material mi55tatement in the financial Statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other 1nf0rrnat￿. we are required to report that fact. We have nothing to report in Ihis re8ard_ Oplnh)ns on other matter5 Prescril￿d bythe Cofflpanies Art 2006 In our opinion. based on the work undertaken in the course of the audii: the information given ifi the 80¥em￿. report, whith includes the strategic report and the directors, report prepared for thè purposes of company law. for the financial year for which the financial statements a￿ wepared is consistent with the financial statements." and the strategic report anLI the directors. included wiihin the 8oveinors' report have been p￿pared in accordance wth applicable legal requ1￿mentS. Matters on wh4th we are required to report by ex£eptioTr In the li8ht of the knowledge antl understandin8 of the charitable company and its environment obtaineLI in the course of the audit. we have not identified material misstatements in the strategic report or the dirertors. report included within the governors. report. 14 aAYESMORE SCHOOL REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CiAYESMORE SCHOOL We have nothin8 to report in respert of the followin8 wtters in relation to which the CoM￿nIeS Act 2CQ6 require5 115 to rep￿rt to you if. in wr opinion: adeqvate accounting records ha¥e not been kept. or return5 adequate for our audit have not been received from branches not visited by us.. or the financial statements a￿ not in a8reement with the ￿coUnting records and retums,. or certain disclosures of govemors. remuneration spectfied by law are not made.. or we have not received all the infomiation and explanaiions we require for our auditResFK)nsibilities olgovernors Re5pon5ibilities of Gty4tmors As explained rnore fully in the governors. responsibilitTes siatement set (*rt on page 5, the 8overnors (who are also the directors of the charitable company for rhe pvrposes of company lawl are respty)siNe for the preparation of the financial statements and for bein8 sat15fied that they Bive a true and fair view, and lor such internal conirol as the governors determine is necessary to ertable the preparation of financial statements that are free from material mi55taternent, whether éue to fraud or error. In preparing the financiol statemenis. Ihe 8overnors are responsible for assessin8 the tharitable company'5 ability to continue a5 3 going concern. disclosin& a5 applicable. matters rdated to going concern and using the going concern basis of accounting unle55 the governors either inten¢J to liouid*e the charitable tompany or to cease operation5. or have no realistic alternative but to do so. •luditQl Te5POn51blli￿5lQfthE dudil vl 111741l11415tat¥n￿n15 Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material rnisstaternenr. whether due to fraud or error. and to issue a Report of the Auditors that includes our opinion. Reasonable assufance is a hi8h level of assurance. but is not a guarantee that an audit condutted in accordance with ISAS IUXI will always detect a maierial misstatement when it exists. Misstatements can arise from fraud or error and are considered materiJl if. iridividuallyorin the aggregate. they could rea${￿ablY beexpetted to influencethe economit decisions of users taken on the basis of these financial statements. Irrpeiilaritips, inr.ludinc fraud, are in%tanre5 of non¥.nrnpliance with IAWS A Thd rp4ulations. We iJe5iBn proced¢ires in lino with our reswnsibilities. outlined above. to detect material misstaiements in respect of irregularities. includin8 fraud. The extent to which our procedures are capable of ijetecting irreeularities. including fraud is detailed below. F¥tent to whirh Ihp was considered capable nl rfrt•rtinc irrecvl3rit￿. iThdudinc fraiid. We identify and as5e55 the risks of material mi55totement of the financial statement5, whether due to fraud or error. and then de5ion and perfom audit procedures reS￿nSt¥e to ihose risks. including obtaining audit evidence that is ufficicnt and appropriatc to provide J ba: for our opinion. Id*ntifyin8 and assesslnt potentlal rSsks relèted to irre￿lay•tieS In iéentifyin8 and assessing risks of material rnisstaiement in respect of irre8ularities, includin8 fraud and nw- cornpliance with laws and re8ulations we considerthe following". the nature of the charity sector. control environmeni and financial performance- results of our enquiries of management about their own identilication and assessment ol the rlsks of irregularities.. any matters we identified having obtained and revbewed the charitrfs dLxumentation of their policies and procedures relating to.. identifyin& evaluating and comth.ng with laws and ￿￿lariOnS and whether they were aware of any instances of non-cornpliance.. detecting and re5pondin8tothe risksof fraud andwhetherthey havekDowled8eof any actual. 5uspe(ted or alle8ed fraud,. rhe internal contro15 established to mitigate risks of fraud or notsle for preventing non-compliance and cannot be experted ro detect non-compliance with all laws and regulations. A Further description of our responsibilities is available on the FRC'S website at-. hit www.frc.or ssurance auditor-s-res on$1￿-lItie$-ftsr-the-3Vdrt-Of-1he-fI descri tion-of-the-auditor%E2%80%99s-res for. Thi5 description forrns part of ourauditorf5 reF￿. auditor5 udi Use of our report This report is made solely to the charitable companrfs members, a5 a body. in accordance wilh Chapter 3 of Part 16 of the Companie5 Att 2￿6. Our audit work has been undertaken so thai we might stale to the charitable comp&n¢s member5 those matter5 we are requireLI to stateto them in an auditorf5 report and lor no other purpose. To the fullest extent permitted by law, we do not accept or assume fesrK)nsibility to anyone othw thart the tharitable company and the charitable cornpany's member5 as a body. fOr￿Jr audit work. forthis report. or for rhe opinions we have formed. Signed.. Simon Ellin6ham BA FCA DChA (Senior Statutory Auditor) for and on behalf of Fawceits Lip Chartered Accountafits and Statutory Auditor5 WindoveT House St Ann Street Salisbury SPI 20R 05/06/2026 16 CLAYE5MORE SCHOOL STATEMENTOF F114ANOAL AcnviTIES lindudin8 thtome and ejtpendiwre auounil Forthe perlod ended 8 September 1025 iknrestrided Funds Restricted Funds Total 2025 Total 2024 INCOME AND ENOOWMENTS FIIOM: Charltable artivil*S Fee5 rec•vable 13.166.561 1.025.817 53.500 13.166.561 IP25.817 53.500 13.174,253 751.107 37500 Other incorr Investment income Donatlowbs and le¢ao•$ 7.171 7.171 130,377 Other tradln# a¢ti¥itie&' Trading i ncon Holiday lettings Claye5fTK)re Society Total in¢om¢ 215.601 297.727 215.601 297.727 19,443 14.785.820 155911 227.897 36.126 14.513.171 19,443 26,614 14.759.206 RESOURCES EXPENDED Ch¥biable actl¥ities'. School operating costs 14.791,054 35.413 I4￿26.467 14.349,926 Other costs.. Donations & Le8acie5 eApenses Trading expenses Finance ané other costs 1.387 1.387 332.422 315.91B 9.083 658.810 271A?O 324.417 329.489 33394 959,170 332.422 315.918 ClayesnKJre Society 9.083 10.470 648.340 Total resouro5expended 15,439,394 45.883 15,485,277 15,309,096 Unfealised ga¢nslllos5esI on investments 694.512 694512 188.1611 INCOME & EXPÉNDIYURE FOftThE YEAR I 1680.1881 675,243 14.94S 1884,0861 Transfer ol •tsets •d Il•biMties io 16.194.055) I1￿10.017> 18.004.072) MOVEMEP4T111 FUNDS 16.874.243) 11.134.774) 18.009.0171 1884,0861 Fund balances brought forward at I September 2024 FUND BALANCES CARRIED FOAWAROAT ' 8 SEPIEM8ER 2025 6,875.328 1.247.931 .123.259 9,007,345 1.085 113.157 1141.242 ,123.259 CONMNUING OPERATIONS The company ceased to trade as a school on 8 ￿t￿mber 202S. The noies form part of these finantial statemerbts 17 CLAYESMORE SCHOOL BAiANCE SHEET As at 8 September 2025 202S 2024 M)tes FIXED ASSEIS Tangible assets Investments 14.980.820 525,701 15506.521 curiiENT ASSETS Stocks Debtors io 7.121 1.843,066 2.285.190 4.135,377 114.242 Cash at bank and in hand 24 114.242 CPEDrroRS: Amounts falling due within one year 12 7.687.078 N￿(VAlIENT Li4BinES: 114.242 13.551,7011 TOTAL ASSÉTS LÉSS CURRENT LiABILmES 114242 11.954,820 CREDITO￿. Amountsfalllng due after r￿rethan one year 13 3.831.561 114.242 8,123.259 FiA14DS Unrestricied fund5 - G￿￿31 16 6874.243 1.085 1247.931 Designated 16. 17 16. 18 1.085 113.157 Restricted fvnds 114.242 8,123.2S9 Approved and authorised for issue by the Boafd ofTrustees of aayesnweschool and si8n&l on its behalf bv". Date.. 0510612026 The note5 form part of these financial statements 18 CiAYESMOftE SCHOOL CASH FLOW ￿ATEll￿N7 tor the ended 8 September 2025 2025 2024 lthjtes CASH FLOWS FROM OPERATING ACTivmfs: Nei gro¥lded by operalTrx acti¥ities 23 12.270.223) 1371.069 C*h Ilowsfrom in¥estlng arti¥iti Purchase of tan8ible fixert assets 171.314 300.770 Nei cash used in inve5tin8 activitie5 171,314 300,770 Cash IIow5fr4)m fin•nunt att￿ltIeS. RepayrrEnt af borYowinÈs Finance lease repayments Loan repayma)ts after transfer to ILG Cash inflows from ILG 25 1463.3721 124.6731 12.990.061) 3.291.825 1436.0391 25 25 Net cash lused inllprovided by financing auivities 1186.2811 1436.0391 Chw In and equi¥¥•nts inthe ￿PortIng p¢rlod 12.285.190] 1.435.800 Cash and cash equivalents at I Septanber 2024 2285.190 849.390 Cash and Cash equS¥alentsat 8 Septernber 2025 24. 25 2.285,190 The n￿e$ fomi part of ihese financial statements 19 CLAYESMORE SCHOOL NOTES TO THE FINANCIAL STATEMENT5 forthe wiod ended 8 September 2015 I. ACCOUNTING POLICIES The principal xcountin8 policie5 adopted and con￿Stent1Y applied. jud8ements and key sources of estimation uncertainty in the preparatioD of the fiThancial statement5 are as folkjws.. Accountlni ronvention The financial siatements are prepa￿￿ in accordance with Accounting and ReF*JrtinB by Charitie5.' the Charities.. 5tatemeNt of Aecommended Praciice applicable to Charitie5 preparin8 iheir accounts In accordance wilh the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 li$5ued October20191- Chartties SORP IFRS 1021 and the Compallies Act 2006. Theyare drawn up on the hisiorical cosi accouniing basis and are prepared in Sierlsng IE) which is thefvnttional currency of the charitable company. The School meets the defiThition of a public benefit entity under FRS 102. Golng Concern The trade, Majority of the assets and all of the liabilities of Oaye5mfft School were transferred to the Inspred Learning Group on 8 Sepiember 202S following theexthan8eof contractson 2 May 2025. Therefore the business and operations of the School under the charity will no longer be conttnuing and. in these circurnstances. UKaccountin8 5tandard5 do not permit the financial statements to be prepared on a going concern basis. The operations ol the khool arecontinuing under ihe new owner on the existirt8 Site and. asthe school is continuing to traLle under the ownership of the Inswred Learning Group. Followin8 ihe transfer of the trade, assets and liabilities. the tru5tee5 of the charity will use the remaiThin8 funds to provide grants and financial support to pupils at Clayesmore School. Fees and similar income Fees receivable ané charges for services and use of premises a￿ acctyjnted for in the period in wh￿h the 5er¥ice is provided. Fees receivable are stated after deductinB allowances. scholarship5 and other remi5sion5 ollowed by the School. Donations. legaoes and othervoluntw In￿mIne restyr¢es Voluntary incoming resources are accounted for a5 and when entiilement arises. the anThJunt can be reliably ouantrfied and the economic benefit to ihe school is consideted probable. Rt5ources Expended All expenditure 15 included On an accruals basis and is retognised when there is a legal or tonstnKtive obligation to pav. Expenditure is allocated to expense headings •ther on a direct cost basis or apportioned according to time spent. The irrecoverable element of VAT is included wilh the item of expense to whiih it relates. Tangible flxed •ssets Expenditure on fixed assets is capitalised except for expenditure incurred on ihe replxement of assers of low value with a short life. The cost of fixed asset$ 15 their purchase cost, together with any incidental costs of acqui51tion. Depreciation is calculated to write off the cost of iangible fixed assets. le5S their estimated residual values. over the expected useful lives of the asset5 concerned. The principal annual rates used forthi5 pvrp05e are.. Land is not depreciated. Buildin85 are depreciated at rates between 1% and IO% per afinum on cost. The all weather pitch is dep￿lated at IO% per annum on Cost.. fixtures. fittin8s and equipment at rates between 20% and 33%; and motor vehicles ar 20%. Stock Stock is valued at the lower of cost and net realisable value. after making due allowancefor obsdete and slow moving items. The notes form part ofthese financial statements 20 CLAYESMORE SCHOOL P40TE5 TO THE FINANCIAL 5TATEMENT5 lor the perlod ended 8 September 2025 ACCOUNTING POUOE5 l¢ontlnued) Debtors Debtors are measured at their re£oveTrble ainwnt. Creditors and Provi￿On5 Creditgrs and provisions are reco8nised wherethecharityhasa present obligation resultln8from a past eventthatwill probably result in the transfer of funds to a third party and the amount tlue to settle the obli8ation can be measured or e5tirnated reliably. Creditor5 and provisions are normally recogni5ed at their settltmeTht amount afteT allowine for any trade discounts due. Hire purchase and leasing ¢ommitments Assets obtained under hire purchase contrart5 or finance le￿e5 are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estirnate(J useful lives. Those held under finance lease5 are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of tFiese obligations ts charged to the income and expenditure account over the rdevant period. The capital element of the fthute payment$ IS treated a5 liability. Rentals paid under operating leases are char8ed to the income and expenditure xcouni on a straight line basis over the period of the lease. Penslons Until 31 August 2024 the Scho)I contributed to the Teachers. p￿510￿ Schen*. This is è multi*rnployer pensK)n scherne. tt 15 not possible to iéentify the School's share of the underlying assets and liabilities of the scheme on a consistent and ￿liable ba515 and therefore, as required by FRS 102. the Sch¢￿1 accounted for the srheme as if it were a deFined contribution scheme. Contributions. which are in accordance with the recommendations of the Government Aauary, are char8ed in the period in which the salaries to which thtry relate ale payable. The School contributes to a Defined Contribution Scherne for teaching staff that have opted out of the Teachers, Pension heme. Conlributions are charged in the period in which the salaries to which they felate are payable. The School contributes to a Group Personal Pension S¢heffle for norb4eachinB staff. Conlributions ale char8ed in the period in which the salaries to which rhey relate are payable. Funds The School's funds consist of unrestritted and restrirted amounts. The School may use unrestricted arnounts at its dtscreiion. Restrirted funds can only be used for a particular purpose a5 specilied by the th)nor. Designated funds 3re unrestricted funds that the Governors have reserved for a particular purpose. Hed8in8 arrangen￿ntS Inter￿t rate swaps are held to managethe interest rate exposures of borrowings and are included in the financial statements at fair value. Movernents in lair value a￿ iec(enised in the ￿atefflent of financial attivities. Investments All investments are stated at rnarket value. Any 8ain or loss on re¥aluation istaken to the statement of financial activitie5. The notes form part of these financial statements 21 CLAYESMORE SCHOOL NOTES TO THE FINANCIAL STATEMEP4TS for the wiod ended 8 September 2015 INCOMING RESOURCES Thei ntome and net incorni￿ resovrces are attributabletothe one principal acti*Aty of theschool. Fees rectiveableconsisi of.. 2025 2024 Gross fees Le5s.' Total 5cholar5hips. bursarie5 and allowance5 16.639.059 3.472.498 13.166.561 16.333,492 3 159 239 13.174.253 OThER INCOME 202S 2024 Sundry inc¢ThT Fees in li￿ of notyce 901.349 124.468 680.337 70.770 1.025,817 751.107 sfAFF COST5 2025 2024 Wages and salaries S(Kial SEcurity costs Other pension costs .276.764 830.231 1 165 546 8,030,704 688.043 1231210 10,272.541 9.949.957 Theaverage number of employees durin8 the year. caltulated on a full equivalent basis was as follo%%s= 2025 103 125 228 2024 loo 156 256 Teachin8 Othws On a headcount basis the average number of employees was.. Teachin8 13612024.. 1241. Others 20512024: 2231 The rtotes form part of these financial statements 22 aAYESMORE SCHOOL NOTES TO ThE FINANCIALSTATEMEpirs for th* wriod end*d 8 Stptember 2025 AFF C0575 l¢ontinuedl 1025 2024 The nurnbu of ￿plOyeeS whose eAceeded £60.(X)O werw. £60.LX)1 - £70.ocKJ 70,CQI - £80.000 E80.(K)1- £90.000 £90.(M)I - £Ioo.000 £ioo.ooi- £iio,000 É140.001- £150.000 £160.001 - £170,000 DUri￿the year a total of £30S paid to oneGoVerr￿r{2O24- £2.008 paid to six Governor51 as reimbursed travel, accomrnodation and trainin8 expen5e5. With this eAception. none of the GovLYnors nor any persons connected ro them. rtteved ferI￿n￿atiOn or benefi.ts frorn the School. The Governors are Trustees ol the Charity. strff costs Include redundancy and termination payments totslling £293.62012024 £65.4481. EXPENOW 2025 2024 Expenditure t￿l￿deS.. Depreciation- owned assets (Profit) l L055 on disposal of fixoj assets Op￿ating lease ientsls - planL machinery and Vehicles Auditors, r￿Uneration- audit fee Auditors, remuneration- other Services 517.315 496.384 200,503 16.585 224581 10,287 EXCEPIIONAL nEMS Ouring the year the school received bncomeand incurred eApenditurethat areconsidered excepibonal by virttje of th*r size-. Non refundable deposit rLY¥ved 250 000 Redunllancy costs Legal and professional fees 293.620 388.389 682 009 The r￿leS form part of these financial 51aterrthrs 23 CiAYESMORE SCHOOL NOTES TO THE FINANCIAL STATEMENTS forthe perlod ended 8 5tpttmbtr 2025 ANALV515 OFTQTAL RESOURCES EXPENDED 2025 Total Staff Other Depreoation Charitable a¢ti¥ilies School operatingcosts.. Teachin8 costs Welfare Premises Management and administration Govunance costs 6.698214 1.658.809 453.029 1.259.692 674.004 708.880 310.344 2.529,275 71.325 10397 363,668 71.325 7,443,S43 2.378.686 1.127,041 3.860.292 10.069.744 4.239.408 517.315 14.826.467 Other ¢ort> Donations & Lqacies Trading costs Finonce Other costs Claye5moreSociety 1.387 129.62S 315.918 1.387 332.422 315.918 202.797 202.797 456.013 658.810 Unrealised investrnent costs Total resouros*xpendod 10 272 541 4 695 421 517 31S 15 485 277 Anatysis for romp¥alr¥e period 2025 aff c¢)As her Dewetiation Trfal Chwiiable attfviiks School operating costs.. Teachin8 Costs Welfare Premises Mana8ement and administration fjovernancecosts 6.605.041 1.5S6.713 543.041 1.185.875 663.354 828,566 410.751 2.051.906 64.353 7.481 360.198 64.353 7.332,748 2.392.760 1,313.990 3,302,133 9￿90.670 3.962.872 496.384 14.349,926 Other w5ts: Don8tions & Legacie5 Trading costs Finance and othw costs Claye5moreSociety I71￿70 172.985 329.488 271.870 324.417 329,488 151.432 151.432 807.737 959.169 Unrealised investment Costs 88.161 88,161 Total r¢sour¢esexp¢nded 496 384 15 397,255 The notes form part of these financial statemen 24 aAYESMORE SCHOOL 140TES TOTHE FINANaAL STATEMEPU5 for the perh>d etsded 8 September 2025 TANGI&É FrAÉD￿srrs FroohDhl Vtlths Equ￿￿e TOtsI COST At 1st Septeffkner 2024 Additions 15509008 386.49S 2ffj61 168A87 29 55 3.913.217 54.984 2252S.572 2.U27 LS509J08 13 96 At8 seMernber2025 PEPHÉCL4rnA AtIStStytember 2024 cha￿￿ toi theyear ElSrnjnateO on di5P05al At8 Septsrnber 2025 3.14B.457 193.450 163.31S 27568 190 2.L41*9S 90598 32 93 I￿3.?54 194.309 7.331 10.997 18 28 7,S44,7S2 517,3LS 061067 393 393 MEf•ooKvALUE At8 September 2025 At 31 ￿j?J>1 2014 12J61.3SI 213.l80 519.173 IA19.463 47.653 14380*20 On 8 Septth)v 2025 411 ofthefiw a55ers weuanslorrd atthorf Tr74t book¥alL*to the1n5pr￿ l￿rnIn86r￿. Irbcluded freehold land an¢J twJildiw •131 P4J•J5t2024 was land ttyalliwÉl.257SOOT*thichTJAS nOtdepre£DatsJ. TheSchod ¥ectyi. in a¢co¢daftt*￿4th 3S.IOldl otFaS102. tyusethecarry*nB¥alu¢w 1 Sopt￿r 2ts14.the dateDltrèilSilith) w FRS102.ofanyof theobmfreehold la￿ •Rd twildirfB pf*ri