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← Northease Manor School Ltd

2025-08-31-accounts

Charity Registration No. 307005

Company Registration No. 01078648 (England and Wales)

NORTHEASE MANOR SCHOOL LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

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BUSINESS
| ..a/ ADVISORS
— “ee Raccountanrs
One Bell Lane
Lewes
East Sussex
BN7 1JU
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NORTHEASE MANOR SCHOOL LIMITED

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CONTENTS

Page
Company information
Governors’ report 1-8
Statement ofGovernors’ responsibilities 9
Independent auditor's report 10-13
Statement of financial activities 14-15
Balance sheet 16
Statement of cash flows 17
Notestothefinancialstatements 18
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NORTHEASE MANOR SCHOOL LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Governors Mrs JToben (Chair)
Mr D Carpenter (Vice Chair)
MsP Field
Mr R Kantaria
Mrs C Nash (Appointed 12 November 2025)
Ms H Osei-Fosu (Appointed 15 October 2025)
Mr N Stanley (Appointed 3 October 2024)
Mrs M Stebbing
Headteacher Mrs C Stamos
Charitynumber 307005
Company number 01078648
Registered office Newhaven Road
Rodmell
Lewes
East Sussex
BN7 3EY
Auditor TCGroup
One Bell Lane
Lewes
East Sussex
BN7 UU
Bankers Lloyds Bank Plc
8 High Street
Lewes
East Sussex
BN7 2AD
Charity Bank Limited
Fosse House
182 High Street
Tonbridge
Kent
TN9 1BE
Solicitors Sherrards Employment Law Solicitors
4 Albourne Court
Henfield Road
Albourne
West Sussex
BN69FF

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NORTHEASE MANOR SCHOOL LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 31 AUGUST 2025

The Governors present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019).

Objectives and Activities

The objects are set out in the Memorandum of Association as being the promotion and provision of facilities for the advancement of education. Northease Manor School (Northease) is for students aged between 7 and 19 who have special educational needs and disabilities (SEND).

it remains the policy of the Governors that Northease should continue to be a centre of excellence for the education of neurodivergent young people.

We aim to provide an outstanding educational environment that restores and increases young peoples’ selfesteem and educates the whole child, so that each young person has the tools they need to overcome the societal barriers and attitudes to their specific learning support need. The school has a clear and focused objective to become a leading school in its field. We promote the academic, moral, and physical development of our students through our academic curriculum, pastoral, and therapeutic care, sporting, and other activities.

The Governors have read the Charity Commission's guidance on public benefit, and the specific guidance for charities whose objects include education. The Governors have paid due regard to the Commission's guidance, and all who make decisions about the activities the Charity undertakes are concerned to ensure that a real educational benefit is provided to a broad range of students. The Governors consider that the achievements and performance of the charity demonstrate success in this regard.

Governors keep under review the structure of the school to ensure that we meet the required standards for the curriculum. From the start of the Academic year 2019/20 the school ceased to provide boarding, focusing resources on day students, and expanding our sixth form provision.

School Values and Position

The school has evolved to reflect those needs and aspirations that are sought after by parents, carers and students. The school focuses on neurodivergent needs including speech, language and communication difficulties, autism spectrum condition (ASC), dyslexia and other processing, sensory and cognitive delays.

The school's aim is to ‘make the difference’. We achieve this by:

Clear expectations of the school community's attitudes and behaviours are set out in our school values:

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GOVERNORS’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)

NORTHEASE MANOR SCHOOL LIMITED

FOR THE YEAR ENDED 31 AUGUST 2025

Key Objectives

The school has a clear vision to become the leading special educational needs provider; equipping students with the skills, attitudes, behaviours, and opportunities to flourish. We aim to achieve this by:

The school’s strategy is based on delivery in 6 strategic pillars:

Ethos

Northease is a charity benefiting neurodivergent children and young people who have not flourished in other settings. The school’s fees are inclusive of all therapies, and it has a commitment to continue working with local authorities and parents and carers to provide an education that meets the needs of its young people.

The school celebrates students of all backgrounds and prides itself on its approach to equalities, diversity and inclusion which is embedded in the curriculum and school's culture.

The safeguarding practice in the school has been commended recently by ISI and the school continues to work with all agencies in relation to keeping children safe. The behaviour of students at Northease is good, reflecting the approach the school has in addressing behaviour based on individual need. The pastoral care allows students and staff to work in a safe environment so that students achieve academically, emotionally, and socially; many of our students have communication needs and the school is committed to instilling the life skills and preparation for adulthood required for students to contribute effectively to their communities and society in general.

Northease believes in equality of opportunity and is committed to the development of staff in line with its key objectives. At the school’s core is a culture which genuinely celebrates diversity and champions inclusion. These are more than just words for us; they are the hard-and-fast principles guiding how we build our teams, cultivate leaders, and create a community that is the right fit for every person inside of it.

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GOVERNORS’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

NORTHEASE MANOR SCHOOL LIMITED

FOR THE YEAR ENDED 31 AUGUST 2025

Curriculum

The curriculum is inclusive for all students. No students are restricted from entering any route of study and as such all have a balanced curriculum that meets their academic, social, and emotional needs. The school offers a curriculum in line with the maintained sector and in addition has subjects such as Horticulture, Duke of Edinburgh, Engineering, life courses such as 'ASDAN', PSHE as a distinct class for all students, and a full enrichment programme. We also have a ‘Preparation for Adulthood’ class in each year group that includes learning how to do the day-to-day tasks, including travel into the community, that many neurotypical people can take for granted. The social aspect of learning is key for our students and this preparation for independence beyond Northease is essential.

The school has integrated therapies as part of its local offer and students benefit from education staff who have been trained in practical aspects of Speech and Language Therapy and Occupational Therapy. The therapy team at Northease work with their teacher colleagues in partnership so that all students’ needs are at the forefront of what the school does.

We are able to offer P.E. classes, as well as sporting enrichments to all of our students as well as Sports Studies and Sports Leadership for GCSE.

The Arts are exceptionally popular at Northease; neurodivergent children and young people can often excel in these areas. The school offers GCSE, and skills-based classes to all students and achieves excellent results. The school also runs Project Northease, an arts-based Enterprise Project solely to promote the artistic achievements of our students. The end of year art, photography and textiles show is always commended by parents, carers and visitors.

Achievements and performance

GCSE results achieved by the students are, on average, more than one grade higher than predicted across all subjects. The school accommodates for the academic needs of its students and uses standardised tests to predict grades. Student needs are not just measured through academic attainment at Northease, rather the whole needs of the child are developed through the nurturing, supportive nature of classes, therapies and pastoral care.

Inspection

The school was inspected by the Independent Schools Inspectorate (IS!) in March 2025. The school was found to be fully compliant in all areas on both occasions, with no action points or recommendations. A further Local Authority safeguarding inspection took place in November 2024 which also did not raise any concerns.

Community

The school is now developing links with local schools and businesses as well as Independent SEND schools across the South East. The school development plan has a focus on engagement for students and with the community as well as centring our focus on the targets for each student in their EHCP.

Northease hosts new-parent coffee mornings, training opportunities provided by the in-house therapy team, as weil as Parent Evenings, a 6th form Open Evening, Preparation for Exams, and an Options Evening for those who require planning preparation and an Open Morning for professionals and prospective families. Parents and carers are welcomed on site to meet with teachers, therapists and the senior leadership team whenever they need as we maintain an open-door policy. Within the wider community the school is developing links with similar schools and is conducting and hosting visits to share current practice and provide a network of support.

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GOVERNORS’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)

NORTHEASE MANOR SCHOOL LIMITED

FOR THE YEAR ENDED 31 AUGUST 2025

Financial review

The school's financial performance is linked to several factors, the most significant being student numbers. The school has successfully reversed an adverse position where student numbers had fallen to below 50. The combination of two recent ISI inspections that met all compliance requirements, and the support we have received from our principle Local Authority partners (East Sussex County Council, West Sussex County Council and Brighton and Hove City Council) has seen student numbers increase year on year. The school started 2024/25 with 109 students with more joining ‘in year’. Historically, low student numbers and a series of unexpected significant costs, left the school running at serious deficit for a number of years. Increasing student numbers, negotiating an increased fee level with all local authorities over a three-year plan, and the improved oversight through the Finance and Estates Committee has had a significant and positive impact and provided a robust platform for the long-term sustainability of the school. The Governors regularly review a set of financial golden rules to ensure we have sufficient liquidity to cover our regular commitments; that we maintain active oversight of our loan portfolio, to build and maintain an appropriate level of reserve.

The year ended with a surplus of £564,139 post depreciation (£638,990 pre-depreciation). Following the demolition of the temporary block at the rear of the schoo! additional classroom spaces have been created within existing buildings. Further works to improve the provision of the school have taken place including a carpark extension due to the growth of traffic within the school, ongoing maintenance to our Grade II listed buildings as well as further development of our intervention classes and resources. Further spending will be needed for the increase in salary costs due to Employers National Insurance Contributions and the continuing increases in national minimum wage as well as a determination within the school’s Governance that staff are paid at a competitive market rate. The school has now implemented a Pay Policy to clearly outline increases in salaries for all staff and plans to remain competitive with its pay wherever affordable.

Our financial plan is supported by a mortgage from Charity Bank; a 25-year repayment mortgage for £410,000. This was put in place as part of our recovery plan to ensure sufficient capital was available and for the school to start to make necessary investments in the estate and equipment. A recent renegotiation has resulted in the interest rate being lowered by Charity Bank from 3.25% above base rate to 2.79% above base rate.

We are a registered charity which means we do not have commercial owners and any surpluses are put back into developing the school. We are Department of Education approved to accept students with local authority funding, if available, and because of our charitable status we can offer affordable fees for those who are self- funding.

Reserves policy

It is the policy of the school that its financial activities are maintained within a tight budget, which is approved annually by the Full Governing Body. The nature of the school’s activities determines that the reserves fund, property, and other net assets, are held to cover unexpected shortfalls on the Statement of Financial Activities. The Governors consider that, in the event of a significant drop in short-term funding, they will be able to continue the school's activities whilst consideration is given to ways in which additional funds may be raised.

Investment policy and objectives

There are no restrictions on the school's absolute powers of investment. The policy continues to be to put any retained funds in higher deposit interest accounts.

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NORTHEASE MANOR SCHOOL LIMITED

GOVERNORS’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Principal Risks and Uncertainties

The Governors review the schoo!'s current and planned future activities in the light of known and emerging risks, major risks and have the systems and procedures designed to manage them. The school is financially dependent on local authorities who have been adversely impacted financially. We plan future budgets based on possible scenarios, such as the proposed removal of business rates relief and VAT on fees in order to manage implications financially.

The economic context is rapidly changing with inflation upward movement and the continuing rise in energy pricing plus increased material and labour costs together with increases in teaching and support staff salaries, are being factored into forward planning. The rapid increase in student numbers through the last three years is giving us further confidence that our financial plan is robust, but we are not complacent.

The school has been well planned through dynamic risk assessments and business continuity planning. An increase in fees was agreed with all local authorities as well as private fee payers for the three years from 2023-24 to2025-26. We are now receiving the final year of these planned increases and have begun negotiations for a further increase with the local authorities for 2026-27.

Our plans and strategies for managing risk include maintaining effective internal controls, a strategic risk register, a considered risk appetite, incident-reporting and monitoring systems and appropriate insurance cover.

Plans for Future Periods

School numbers have increased more than 50% in the past 2 years For 2025 the school increased admissions again to nearing capacity. To date we have already exceeded our budgeted student numbers. The crisis facing SEND educational and family support systems in the southeast is a significant factor in the growth of admissions, but improved relationships with our local authority partners who see Northease as value for money in delivering excellent outcomes for our students is the key factor in the maintenance of student numbers. Increased fees with the local authorities have not had an effect on placements and increased publicity has assured our reputation as the gold standard for SEND education locally.

Northease continues to offer a high-quality provision that represents good value for money for our stakeholders. Current and forecasted economic conditions had added to the school's challenges in delivering on planned outcomes, and the school governors and leadership team are working together to form a strategy to ensure the school's continued success into the future. Following a safeguarding visit from East Sussex County Council in September 2022 considerable changes were required to ensure safeguarding; these were addressed and resulted in a further inspection in February 2023 which had no further improvements required. Follow up inspections in February 2024 and March 2025 also had no improvement to note.

Considerable requests have been received over the past two years for additional student placementsin lower year groups — from years 2 through to year 6. The school is registered with the DofE to educate students from age 9, but is currently unable to provide classroom spaces due to the makeup of the school site and the limited rooms its Grade Ul listed buildings can house. Further to this is an increased need for SEND specialised placements for younger students as needs have become more readily identified. In addition, the school recognises that SEND professional, such as diagnosticians and Educational Therapists are in demand and waiting lists growing for assessments. Consideration is therefore being given to an expansion of the school’s buildings to encompass a new build at the rear of the property on land currently not in use. This could potentially house a primary school setting as well as a diagnostic centre. Estimates of this expansion have not yet been obtained, but would approximate over £1,000,000 if realised. An additional fee uplift is needed for this vision to become a reality, as well as maintained financial security.

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NORTHEASE MANOR SCHOOL LIMITED

GOVERNORS’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Structure, Governance and Management

The charitable company’s original constitution is per the 1972 Trust Deed and registered with the Charity Commissioners under charity number 307005. The Memorandum and Articles of Association (1972) have been amended in subsequent years, the latest amendment being in 2021.

Northease Manor School Limited (the Trust) is the legal entity that owns the land, buildings, and other assets of Northease Manor School. The school operates as a charitable company limited by guarantee. The Board of Governors of Northease Manor School Limited (the Board) are the directors and trustees of the charitable company. The agenda for all meetings takes account of these separate but concurrent responsibilities.

None of the Governors have any beneficial interest in the company. All Governors are members of the company and guarantee to contribute £1 in the event of a winding up.

The Governors, who also act as Trustees and who are also the directors for the purpose of company law, and who served during the year and since the year end were:

Mrs J Toben (Chair)

Mr D Carpenter (Vice Chair)

Mr S Bridge (Appointed 3 October 2024 and resigned 8 November 2024) Mrs G Des Moulins (Resigned 7 January 2025)

MsP Field Mr R Kantaria Mrs C Nash (Appointed 12 November 2025) Ms H Osei-Fosu (Appointed 15 October 2025) Mr N Stanley (Appointed 3 October 2024) Mrs M Stebbing

Recruitment and Appointment of Governors

The Governors aim to maintain a Board with a diverse range of skills and expertise, experience, and perspective to provide effective direction and oversight. The Board consists of not fewer than five and not more than 9 Governors. The Board has absolute discretion as to the appointment of any Governor. The term of office for a Governor is three years and they are eligible to serve up to a further two terms.

The Chair is responsible for the leadership of the Board and ensuring its effectiveness in all aspects of its role. The Chair facilitates both the contribution of Governors and the constructive relations between the Board and the Head and Senior Leadership Team.

The Governors handbook includes role descriptions for Governors plus the Chair and Safeguarding Governor, a conflicts of interest policy and a code of conduct for Governors, based upon the Nolan Principles (the Seven Principles of Public Life). Terms of Reference have been established for Academic and Finance and Estates Committees.

The Board may from time to time, seek nominations from parents of students attending the school. The number of Parent Governors must not exceed one third of the Board. A parent governor ceases to be a Governor on the day their child leaves the school. No parent governors were in place during the academic year 2024/25.

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NORTHEASE MANOR SCHOOL LIMITED

GOVERNORS' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Organisational Structure

The Board is ultimately responsible for all aspects of the school and its future well-being. Through a Scheme of Delegation, it has delegated to the Headteacher in their role as Chief Executive, responsibility for the day-to-day operation and management of the school. The Board exercises an appropriate measure of control over this delegated responsibility by:

Education & Charitable Objects

Finance

Staff & Personnel Matters

Estate and Premises

Professional Advice & Support

The full Board of Governors meets at least four times a year. A regular skills audit of the Board t informs the recruitment of further suitably skilled Governors.

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NORTHEASE MANOR SCHOOL LIMITED

GOVERNORS’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Remuneration of Key Management

The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools to ensure that the school remains sensitive to the broader issues of pay and employment conditions elsewhere.

Funds held as custodian trustee

There are no arrangements where the charity or Governors are acting as custodians.

Auditor

In accordance with the company's articles, a resolution proposing that TC Group be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the Governors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

In approving the Governors’ Report, we also approve the Directors’ Report included therein, in our capacity as company directors.

The Governors’ report was approved by the Board of Governors.

Mrs J Toben (Chair) Governor

Date: 2g” Marck ants “

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NORTHEASE MANOR SCHOOL LIMITED

STATEMENT OF GOVERNORS’ RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2025

The Governors, who are also the directors of Northease Manor School Limited for the purpose of company law, are responsible for preparing the Governors’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Governors are required to:

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

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NORTHEASE MANOR SCHOOL LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF NORTHEASE MANOR SCHOOL LIMITED

Opinion

We have audited the financial statements of Northease Manor School Limited (the ‘charitable company’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of treland (United Kingdom Generally Accepted Accounting Practice}.

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

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NORTHEASE MANOR SCHOOL LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF NORTHEASE MANOR SCHOOL LIMITED

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Governors are responsible for the other information contained within the annual! report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Governors’ report.

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

Responsibilities of Governors

As explained more fully in the statement of Governors’ responsibilities, the Governors, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Governors are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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/ NORTHEASE MANOR SCHOOL LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF NORTHEASE MANOR SCHOOL LIMITED

Auditor's responsibilities for the audit of the financial statements

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

irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate 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:

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NORTHEASE MANOR SCHOOL UMITED

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INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF NORTHEASE MANOR SCHOOL LIMITED

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of fromManagement,fraud or error.and were designed to provide reasonable assurance that the financial statements were free

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible forregulations.preventing non-compliance and cannot be expected to detect non-compliance with all laws and

A further description of our responsibilities for the audit of the financial statements is located on the Financial ourReportingauditor’sCouncil'sreport. website at: https ://www.frc.org.uk/auditorsresponsibilities This description forms part of

Use of our report

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

: C. (cusp

David Martin FCA (Senior Statutory Auditor) for and on behalf of TC Group

Statutory Auditor

Office: Lewes

Date:c77,fore Qoob

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NORTHEASE MANOR SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Current financial year

Current financial year
Unrestricted Unrestricted Restricted Total Total
funds funds funds
general designated
2025 2025 2025 2025 2024
Notes £ £ £ £ £
Income and endowments from:
Donations and legacies 3 - - 5,350 5,350 5,881
Charitable activities 4 3,646,440 - - 3,646,440 3,152,282
Fundraising projects 5 1,802 - - 1,802 2,109
Investments 6 7,073 - - 7,073 5,809
Other income 7 86,552 - - 86,552 55,316
Total income 3,741,867 - 5,350 3,747,217 3,221,397
Expenditure on:
Raisingfunds 8 1,144 - - 1,144 2,328
Charitable activities 9 3,121,121 59,597 1,215 3,181,933 2,915,861
Other 15 - - - - 5,381
Total expenditure 3,122,265 59,597 1,215 3,183,077 2,923,570
Net incoming resources beforetransfers 619,602 (59,597) 4,135 564,140 297,827
Gross transfers between funds (139,459) 139,459 - - -
Net income forthe year/
Net movement in funds 480,143 79,862 4,135 564,140 297,827
Fund balances at 1September 2024 362,014 1,713,624 10 4 =©62,075,648 = 1,777,821
Fundbalancesat31August2025 842,157 =1,793,486 4,145 2,639,788 2,075,648

The statement of[financial][activities][includes][all][gains] and[losses][recognised][in][the][year.]

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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NORTHEASE MANOR SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Prior financial year

Prior financial year
Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2024 2024 2024 2024
Notes £ £ £ E
Income and endowments from:
Donations and legacies 3 - - 5,881 5,881
Charitable activities 4 3,152,282 - - 3,152,282
Fundraising projects 5 2,109 - - 2,109
Investments 6 5,809 - - 5,809
Other income 7 55,316 - - 55,316
Total income 3,215,516 - 5,881 3,221,397
Expenditure on:
Raising funds 8 2,328 - - 2,328
Charitable activities 9 2,857,804 53,897 4,160 2,915,861
Other 15 5,381 ~ - 5,381
Total expenditure 2,865,513 53,897 4,160 2,923,570
Net incoming resources before transfers 350,003 {53,897} 1,721 297,827
Gross transfers between funds (259,676) 261,542 (1,866) -
Net income forthe year/
Netmovement in funds 90,327 207,645 (145) 297,827
Fund balances at 1 September 2023 271,687 1,505,979 155 1,777,821
Fundbalancesat31August2024 362,014 1,713,624 10 2,075,648

-15-

NORTHEASE MANOR SCHOOL LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 17 1,862,665 1,756,408
Current assets
Debtors 18 1,217,042 897,732
Cash at bank and in hand 1,441,173 979,802
2,658,215 1,877,534
Creditors: amounts falling due within one 19
year (1,516,460) (1,182,853)
Net current assets 1,141,755 694,681
Total assets less current liabilities 3,004,420 2,451,089
Creditors: amounts falling due after more
than one year 20 (364,632) (375,441)
Net assets 2,639,788 2,075,648
The funds ofthe charitable company
Restricted income funds 25 4,145 10
Unrestricted funds - general 842,157 362,014
Unrestricted funds - designated 24 1,793,486 1,713,624
2,639,788 2,075,648

The financial statements were approved by the Governors on ee AG LODE

< Nae, ene Mrs J Toben (Chair) Governor

Company registration number 01078648 (England and Wales)

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i

NORTHEASE MANOR SCHOOL LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

==> picture [488 x 338] intentionally omitted <==

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|29|644,092|593,587| |Investing|activities| |Purchase|of tangible|fixed|assets|(181,108)|(275,634)| |Proceeds|from|disposal|of tangible|fixed| |assets|250|-| |Investment|income|received|7,073|5,809| |Net|cash|used|in|investing|activities|(173,785)|(269,825)| |Financing|activities| |Repayment|of bank|loans|{8,936}|(7,679)| |Net|cash|used|in|financing|activities|(8,936)|(7,679)| |Net|increase|in|cash|and|cash|equivalents|461,371|316,083| |Cash|and|cash|equivalents|at|beginning|of|year|979,802|663,719| |Cash|and|cash|equivalents|at|end|of year|1,441,173|979,802|

----- End of picture text -----

-47-

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

Northease Manor School Limited is a private company limited by guarantee incorporated in England and Wales and a registered charity. The registered office is Newhaven Road, Rodmell, Lewes, East Sussex, BN7 3EY.

1.1 Accounting convention

These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”}, “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a going concern basis. The Governors have prepared detailed budgets and cash flow forecasts for at least 12 months from the date of the approval of these financial statements. On the basis of these, along with a robust recovery plan and together with support from Charity bank, the Governors consider it appropriate to prepare the financial statements on a going concern basis.

1.3. Charitable funds Unrestricted funds are available for use at the discretion of the Governors in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Governors for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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NORTHEASE MANOR SCHOOL LIMITED

:

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

School fees receivable are charged for services and use of the premises are accounted for in the period in which the service is provided.

1.5 €xpenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion ofthe asset’s use.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

All resources expended are inclusive of irrecoverable VAT.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Capital iterns over £1,000 are capitalised at cost.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold land and buildings Not depreciated
Freehold buildings 15 or 50 years straight line
Computer hardware & software 3 years straight line
Fixtures, fittings & equipment 15% straight line
Motorvehicles 25%straightline

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

-19-

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.7 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention tosettle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition offinancial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

: : ‘ .

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

The school operates a defined contributions pension scheme. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Academic staff are members of the teachers’ superannuation scheme administered by the Teachers’ Pension Agency. Contributions to the scheme are charges to the statement of financial activities as they fall due.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

Depreciation

The charitable company exercises judgement to determine useful lives and residual values of property, plant and equipment. The assets are depreciated down to their residual values over their estimated useful lives.

3 income from donations and gifts

Restricted Restricted
funds funds
2025 2024
£ £
Donations and gifts 5,350 5,881

-24-

:

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

4 Charitable activities

School fees Other school Total School fees Other school Total
income income
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Gross fees 3,465,460 47,405 3,512,865 3,126,668 40,212 3,166,880
Less: Bursaries and
discounts - - - {14,598} - (14,598)
Grant income - 133,575 133,575 - - -
3,465,460 180,980 3,646,440 3,112,070 40,212 3,152,282
5 Income from other trading activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising events 1,802 2,109
6 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
interestreceivable 7,073 5,809

-22-

Li

e

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

7 Other income

Unrestricted Unrestricted
funds funds
general general
2025 2024
£ £
Net gain on disposal of tangible fixed assets 250 -
Rent and letting fees 2,988 2,988
Registration fees and miscellaneous income 83,314 52,328
86,552 55,316

8 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Fundraising events 1,144 2,328

-23-

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

9 Charitable activities

Teachingand Welfare Supportand Premises Total Total
educational costs administration costs
costs costs
2025 2025 2025 2025 2025 2024
£ £ £ £ £ £
Staffcosts 2,062,069 170,086 311,839 - 2,543,994 2,298,378
Depreciation and
impairment - 9,537 5,717 59,597 74,851 71,788
Other costs 40,920 57,609 218,232 200,037 516,798 492,261
2,102,989 237,232 535,788 259,634 3,135,643 2,862,427
Share ofgovernance
costs (see note 11) 46,290 - - - 46,290 53,434
2,149,279 237,232 535,788 259,634 3,181,933 2,915,861
Analysis byfund
. Unrestricted funds -
general 2,149,279 237,232 534,573 200,037 3,121,121 2,857,804
Unrestricted funds -
designated - - - 59,597 59,597 53,897
Restricted funds - - 1,215 - 1,215 4,160
2,149,279 237,232 535,788 259,634 3,181,933 2,915,861

-24-

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

9 Charitable activities (Continued)
Fortheyearended 31 August 2024
Teachingand Welfare Support and Premises Total
educational costs administration costs
costs costs
2024 2024 2024 2024 2024
£ £ £ £ £
Staff costs 1,848,912 163,916 285,550 - 2,298,378
Depreciation and impairment
Othercosts		 -
40,958		 10,645
49,295		 7,246
240,012		 53,897
161,996		 71,788
492,261
1,889,870 223,856 532,808 215,893 2,862,427
Share of governance costs (see note
11)		 53,434 - - - 53,434
1,943,304 223,856 532,808 215,893 2,915,861
Analysis by fund
Unrestrictedfunds -general		 1,943,304 223,856 $28,648 161,996 2,857,804
Unrestricted -designated - - - 53,897 53,897
Restricted funds - - 4,160 - 4,160
1,943,304 223,856 532,808 215,893 2,915,861
10 Charitable activities - other costs
Othercosts relating toteachingand educational costs 2025 2024
comprise: £ £
Educational equipment
Professional development		 28,069
3,604		 23,280
7,551
Specialist fees (exams)
Tuckshopexpenses		 6,361
2,886		 7,265
2,862
40,920 40,958

-25-

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

10 = Charitable activities - other costs

(Continued)

Other costs relatingto welfare costs comprise: 2025 2024
£ £
Catering supplies 50,832 45,140
Catering hospitality 6,777 4,155
57,609 49,295
Other costs relating to premises costs comprise: 2025 2024
£ £
Council tax & water 12,205 10,707
insurance 39,709 35,797
Fuel & light 55,552 65,113
Health & safety 7,987 7,183
Buildings maintenance 67,417 23,937
Grounds maintenance 6,748 6,428
Household expenses 8,296 10,577
Swimming pool expenses 2,123 2,254
200,037 161,996
Other costs relating to support and administration costs forschooling 2025 2024
comprise:
£ £
Stationery & printing 12,126 15,853
Postage 424 925
Telephone 12,056 9,290
Television, film & cameras 344 329
Legal & professional 7,598 13,000
Recruitment 149 2,661
Travelling& motor 2,364 4,346
Maintenance ofequipment 20,238 27,317
ITdevelopment & support 61,808 59,032
Bad debts (500) (291)
Miscellaneous 5,048 12,018
Subscriptions & licences 15,215 18,183
Outsourcing 70,007 67,407
Licences 10,255 9,942
217,132 240,012

-26-

.

:

: : E :

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

11 Governance costs

11 Governance costs
2025 2024
£ £
Audit fees 10,463 12,540
Accountancy 240 402
Bank charges (284) (2,469}
Clerking costs 1,156 855
Loan interest 29,915 32,894
Governor recruitment 4,800 9,212
46,290 53,434
Analysed between
Charitable activities 46,290 53,434
12. Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 10,463 12,540
Depreciation ofowned tangible fixed assets 74,851 71,788
(Profit})/loss on disposal of tangible fixed assets (250) 5,381
13. Governors

None of the Governors (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

14 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
66 63

-27-

.

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

14 Employees

(Continued)

Employment costs 2025 2024
£ £
Wages and salaries 2,077,020 1,885,095
Social security costs 183,946 146,891
Other pension costs 262,651 226,304
2,523,617 2,258,290

The number of employees whose annual remuneration was more than £60,000 is as follows:

2025 2024
Number Number
£80,000 - £90,000 1 1

Remuneration of key management personnel

Key management personnel received remuneration, which includes employers NI, and employer pension contributions, as follows:

Aggregate compensation

2025 2024
£ £
374,766 317,476

15 Other expenditure

==> picture [461 x 82] intentionally omitted <==

----- Start of picture text -----
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets - 5,381
----- End of picture text -----

NORTHEASE MANOR SCHOOL LIMITED

7

i

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

16 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

17 = Tangible fixed assets

17 = TangibleTangible fixed assets
Freehold Computer Fixtures, Motor Total
land and hardware & fittings & vehicles
buildings software equipment
£ £ £ £ £
Cost
At 1 September 2024 3,469,033 32,915 48,188 34,450 3,584,586
Additions 139,459 - 14,702 26,947 181,108
Disposals - - (8,056) (15,170) (23,226)
At 31 August 2025 3,608,492 32,915 54,834 46,227 3,742,468
Depreciation and impairment
At 1 September 2024 1,755,409 17,908 24,336 30,525 1,828,178
Depreciation charged in the year 59,597 5,612 5,717 3,925 74,851
Eliminated in respect ofdisposals - - (8,056) (15,170) (23,226)
At 31 August 2025 1,815,006 23,520 21,997 19,280 1,879,803
Carrying amount
At 31 August 2025 1,793,486 9,395 32,837 26,947 1,862,665
At 31 August 2024 1,713,624 15,007 23,852 3,925 1,756,408
18 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors 1,198,240 868,490
Prepayments and accrued income 18,802 29,242
1,217,042 897,732

~29-

: NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

19 Creditors: amounts falling due within one year

==> picture [485 x 413] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2025|2024| |Notes|£|£| |Bank|loans|21|10,706|8,833| |Other taxation|and|social|security|262,908|34,642| |Deferred|income|22|1,176,788|1,027,424| |Trade|creditors|22,597|69,065| |Other|creditors|32,511|30,349| |Accruals|10,950|12,540| |1,516,460|1,182,853| |20|=|Creditors:|amounts|falling due|after more than one year| |2025|2024| |Notes|£|£| |Bank|loans|21|364,632|375,441| |21|~Loans|and|overdrafts| |2025|2024| |£|£| |Bank|loans|375,338|384,274| |Payable|within|one|year|10,706|8,833| |Payable|after one year|364,632|375,441|

----- End of picture text -----

The bank loan is secured by fixed charges over the freehold property known as Northease Manor School together with funds held in the Debt Service Reserve Account.

The loan is repayable over a period of 25 years at an interest rate of 3.25% above the Bank of England base rate. A recent negotiation has resulted in the interest rate being lowered by Charity Bank from 3.25% to 2.79% above base rate.

: z B

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

22 Deferred income

Deferred income
2025 2024
£ £
Arising from Fees in advance 1,176,788 1,027,424
Deferred income is included in the financial statements as follows:
2025 2024
£ £
Deferred income is included within:
Current liabilities 1,176,788 1,027,424
Movements in the year:
Deferred income at 1 September 2024 1,027,424 914,533
Released from previous periods (1,027,424) (914,533)
Resources deferred in the year 1,176,788 1,027,424
Deferredincomeat31August2025 1,176,788 1,027,424

Deferred income represents winter term fees for the coming school year which are billed in advance.

23. Retirement benefit schemes

Defined contribution schemes

The school operates two pension schemes for the benefit of employees. The Teachers’ Pension Scheme (TPS), a defined benefit scheme, is available to all teachers. All other staff can enter a defined contributions scheme.

Defined contribution

The assets of the scheme are held separately from those of the School in an independently administered fund. Contributions to the scheme are charges to the Statement of Financial Activities as they fall due. Contributions payable by the charitable company at the year end amounted to £16,180 (2024 - £13,971).

The company also operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions totalling £3,519 (2024 - £2,974) were payable to the fund at the year end and are included in creditors.

-~34-

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

NORTHEASE MANOR SCHOOL LIMITED

FOR THE YEAR ENDED 31 AUGUST 2025

23 ~—-Retirement benefit schemes

(Continued)

Teachers’ Pension Scheme

Teachers’ Pension Scheme The Teachers’ Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers in schools. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers’ Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions.

Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation outcome are:

The result of this valuation will be implemented from 1 April 2024. The next valuation result is due to be implemented from 1 April 2028.

The employer’s pension costs paid to TPS in the period amounted to £246,471 (2024- £212,783).

A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website. Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The school is unable to identify its share of the underlying assets and liabilities of the plan.

Accordingly, the school has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The school has set out above, the information available on the scheme.

-32-

7

7 E

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

24 ~——sUnrestricted funds - designated

These are unrestricted funds which are material to the charitable company's activities.

Atl Resources Transfers At 31 August
September expended 2025
2024
£ £ £ £
Fixed asset fund 1,713,624 (59,597) 139,459 1,793,486
Previous year: At1 Resources Transfers At 31 August
September expended 2024
2023
£ £ £ £
Fixedassetfund 1,505,979 (53,897) 261,542 1,713,624

The Fixed Asset Fund has been established to reflect the charitable company's investment in its freehold property assets. A transfer is made each year from the genera! fund to reflect any additions paid by general funds and also disposals made in the year. The transfer from the general fund during 2025 totalled £139,459 (2024 - £261,542).

25 ~—siRestricted funds

The income funds of the charitable company include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Atl Incoming Resources Transfers At 31 August
September resources expended 2025
2024
£ £ £ £ £
Horticultural Area - 5,000 (1,205) - 3,795
Duke of Edinburgh 10 - (10) - -
Ralph's Tree - 350 - - 350
10 5,350 (1,215) - 4,145

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

25 ~—~‘Restricted funds (Continued)
Previous year: Atl Incoming Resources Transfers At 31August
September resources expended 2024
2023
£ £ £ £ £
Brighton HalfMarathon - 165 (249) 84 -
London to Brighton Walk - 2,566 - (2,566) -
Horticultural Area - 2,650 (3,241) 591 -
Swimming Pool 123 - (144) 21 -
Duke of Edinburgh - 500 (490) - 10
Library 32 - (36) 4 -
155 5,881 (4,160) (1,866) 10

The Brighton Half Marathon was completed by Nick Kennedy to raise funds for the purchase dyslexia reading pens.

The London to Brighton walk was completed by Kaye, Millie and Daisy to raise funds for phase one of the trim trail.

The Horticultural Area fund was set up to provide resources to help develop the horticultural area.

The Swimming Pool fund was set up to provide equipment for the swimming pool.

The Duke of Edinburgh fund was set up to help support the school in its purchase of resources.

The Library fund was set up to support the purchase of books for the library.

The Ralph's Tree fund was set up in memory of a school therapy dog and beloved pet of a staff member who sadly passed away during the year and funds were raised by staff and families to plant a tree and provide a seating area.

~ 34 -

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

26 = Analysis of net assets between funds

Unrestricted Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2025 2025 2025 2025
£ £ £ £
Fund balances at31August 2025 are represented by:
Tangible assets 69,179 1,793,486 - 1,862,665
Current assets/(liabilities) 1,137,610 - 4,145 1,141,755
Longterm liabilities (364,632) - - (364,632)
842,157 1,793,486 4,145 2,639,788
Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2024 2024 2024 2024
£ £ £ £
Fundbalances at31August2024arerepresented by:
Tangible assets		 42,784 1,713,624 - 1,756,408
Current assets/(liabilities)
Longterm liabilities		 694,671
(375,441)		 -
-		 10
-		 694,681
(375,441)
362,014 1,713,624 10 2,075,648

27 ~~ Operating lease commitments

Lessee

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025 2024
£ £
Within oneyear 1,984 3,076
Between two and five years 6,944 -
8,928 3,076

~ 35 -

NORTHEASE MANOR SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

28 Capital commitments 2025 2024
£ £
Amounts contracted for but not provided in the financial statements:
Acquisition of property, plant and equipment 16,161 42,934
29 Cash generated from operations 2025 2024
£ £
Surplus forthe year 564,140 297,827
Adjustments for:
Investment income recognised in statement offinancial activities (7,073) (5,809)
(Gain)/loss on disposal of tangible fixed assets {250} 5,381
Depreciation and impairment oftangible fixed assets 74,851 71,788
Movements in working capital:
(Increase)/decrease in debtors (319,310) 51,187
increase in creditors 182,370 60,322
Increase in deferred income 149,364 112,891
Cash generated from operations 644,092 593,587
30 = Analysis ofchanges in netfunds
Ati Cash flows At31August
September 2025
2024
£ £ £
Cash at bank and in hand 979,802 461,371 1,441,173
Loans fallingdue within oneyear (8,833) (1,873) (10,706)
Loans fallingdue aftermorethan oneyear (375,441) 10,809 (364,632)
595,528 470,307 1,065,835