Charlty Reglstratlon N(L 307019 Company Reglstrat40n No. 00924280 (England and WalÈsl THE FREWEN EDUCATIONAL TRUST UMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Governors D Hensley Ichairl P Kano H MSller V Mills A Moore-sick G Nash E North G Peiers Senlor LeadershipTeam Headmastèr Deputy Head- Postoral Deputy Head- Academk Bursar & Secretary Head of 8oardrn8 M Loveday K Skinner H Mccalvey Y Crundwell H Lewis Charlty Number 307019 Compan¥ NTrber )924280 Registered Oftlce & Prln¢lpal Address Frewen College Brickwall Rye Road Northiam Rye East Sussex TN316NL Audltors TC Group The Courtyard Shoreham Road Upper Beeding steynin8 West Sussex BN44 3TN Bankets HSBC Bank plc 4 Robertson Street Hastings East Sussex TN34 IHW
THE FREWEN EDUCATIONAL TRUST LIMITED (UMITED BY GUARANTEE CONTENTS Governors, Report Statement of Governor5. Responsibilities Report of the Independent Auditors statement of Financial Activities 8alance Sheet Cash Flow Statement 14 Notes to the Flnancial Statémènts 15
THE FREWEN EDUCATIONAL TRUST UMITED (UMITED BY GUARANTEE) STATEMENT OF GOVERNORS, RESPONSIBILITIES The GOVerr$ present their report and financial statements forthe year ended 31 Au8VSt 2025. vthich comp with the Charlty's MenY)randum and Articles of Association and with the Companies Att 2006 requiremertt for Directors Report. The financial stattments have been prepared In accordance with the Companies Art 2006. Clwrr(les Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities p paring iheir financial statements in accordance with the Financial Reportln8 Stsndard applicable in the UK and Republic of Ireland IFRS 1021. Strurture4 Kovernancè and management The Charity, regi5tratlDn number 307019, is a Ilmr(ed liability company governed by the meMondUm and Articles Df A$50Ciatitrn as amended by special resolution on 4 ottober 1996. The wmpany is reglstered In England and Wales and numbered C¥)924280. Details of the school's Senior Leadership Team, auditors, bankers. registered officeand Prinopal address can be found on the Legal and Adrnlnlr8tive Inforrnatlon Pa8& The Governors who are 4150 the directors for the purpose of company law, who served during the year We- J Steven50n Ichairmanl V Mills A Moore•Blck G Nash G Peters J Watts Ireslgned 7 February 20251 H Miller D Hensley (appointed 10 October 20241 On 21 NLvember 2025 John Stevenson resigned as Chalmian and was replaced by Davld Hen51ey. Goverwrs are proposed and appointed by current servln8fjovernors at a full rneetin8 of the members. None of the Governors has any beneficial interest in the company. All of the fjovkmors are mernber5 of tht companv and guarantee to conbUre El in the ?v¢nt of a windin8 UP. New Governor5 are usualty elther well known to existing Govemors in a professional capacity or are personally recommended to them by similar connertions. Prospettive Governors typKally receive an extensive briefing from the Chairman of Governors beforewsitingthe School and h£vin8the oppcKtunityto meetwith and question the Headmaster and members of the Senlor Leadership Team. Ellhaed Disclosure 3nd B3rrin8 Service checks are undertaken for all Governors. Governors are selected on the basis tsf their extensive knowled8e and experience in relevant settors. The Chairman ensures that a broad balance of experience Is maintsined en¢ompasslng the spheres of educatioll. finance. and business, as well as social and moral guidance. Governors are encouraged to attend those tralnin8 courses and conference5 which they consider helpful in broadenin8 and deepening their existing knowledge and strengths and as t$Sary to ensure ongolng compliance.
THE FREWEN EDUCATIONAL TRUST UMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS, RESPONSIBILITIES The school is governed thrOh a Comparry limited by guarantee. by an independent Board of Dlrettors which ¢Mrsee$ the manasement and sets the policies for the school. The Board members fulfll the role5 of school Govèrnors and act as frustees. The Headrnasterattends board Meetings and is entitled to siton the 8oard ifhe so chooses. The Board rneets once a term as a minimum. The Board ha5 also established a Finance and General Purposes Committee, a Health and Safety Committee. an Education Commee. a Boarding and Pastcral Committee, and a Marketing Committee. each of which meet5 at least ¢nce a tem. An independent vlsttor attends schooltwi£e perterm and checks asperts of safeguarding and the wellbeinB of boarders. Theexecutive function Is managed and accompllshed by a Senior Leadershlp Team led by the Headmaster. The day-to-dav runningof the School is delegatèd to the Senior Leadership Team. The School is re8(ered with the Deparrment for Education IDfEI, the Council for the R%istration of schIs Teaching DYei¢ Pupils ICReSTeDI and UK Visas and Immigration. The Headmaster is an eleaed member of the ISA. The school Is approved by the Independent Schools. Assoclation a1 the Children's Education Advisory serVi,aThd isa member Dfthe BoardingSchools'As50ciation, anda Supportingcorporate Mèrnberof the British Oyslexia Association. RiskmanaKement TheGovernors asatISfiedthat systern5 are in placeto rnanage exposureto majorri5k and thatallapprDpriate Steps have been taken to ensure the future finincial stability of the Company. A continuin8 process is in place In orderto identify, monirorand minimise all siwificant areasof ri5 The prlnclpal risks are consideredto - Failure to rnaintaln student numbers at a level tts ensure the SC01 remainsffnancialty viable,. Safe8uarding rlsL' Regulatory risk,. Performante ri51 whereby the school's reputation would suffer rf student5 did not make or exceed the expected progress. Objertlves and a¢tlvltles The principle object of the Charity ts that of maintainin8 an independent CodUtI?ndl xhool, kn¢)wn as Frewen Colle8& The aim of the schLy)l is to be a centre of ext*llence for educatin8 children with Dyslexia and associated SpecW4c Learning Difficultks ISpLDsl such as Dyscalculia and Dv$pXia and closely ielated difficultie5 includin8 Speech and Language and Sensory Integration problerns. The sch)ol includes a junior sectlon knDWll as Frewen Preparatory School. and a Sixth Form, which togethercater for pupilsaged 7-19. The Cornpary is established to delNerthe followir¥ pri1paI objects'.- al to promote the cause of educatlon., bl in furtherance of that otlecr, to estsblish and rry on any school or Schools,. to acqulre any schcol as a going concern subjett to any liabilities thereto,. cl to provide for the training and instruttion of pupi15 in ary school so acquired or establlshed in every branch of learning and knowledge,. in citizenship. and in arts and craft5 of all kinds, and on ihe ba515 of broad Christian principles to providÈ such puplls with spiritual. moral, mental and physical tinIn6 In a non-denorninational environrnent.. dl in fllrtherart of the foregoing oblects to do all or any of the thlnes laid down in the MemOndUrn of Association.
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE STATEMENT OF GOVERNORS, RESPONSIBILITIES In pur5UIt of the school's specialist educatlonal oblettives all appropriate clasSrM staff including teachin8 assistants are expected to undertake specialist training. Full time therapists ale employed offerin8 speech and lan8ua8e, occupational, and sensory intesratlDll. &llall C55 sizes are rnaintained. and individual provision plans are prepad foreach pupil. Additional readin8tuition is provided forall pupils in small groups aswell a5 regular intensive numeracytultk)n as requlred. School fees a funded vi£ independent plaenL via I£al authoritie5 (for EHCPS) and via the Services. Guldance is provided to parentsseeking Local Authorityfundin& and a means testéd bursarysthemè isavailable to assist parents of limited means who are unable to obtain fundin8. Services Bursaries are available to asslst Service familiès. Duringthe year, 3 pupils benefitsd from bUrry 5UPPOrt. The school continues to extend its pastoral activf(ies with both t¥)arding and day pupils. Des68nated sraff have timeallocatedfor rnentorin8 activities and h2ve undertaken specialisttrHinin8. Tutortirne allow5tutor5to rheck pupils, Welfa throughout the day,. along with tirnetsbled PSHEE (Personal Social Health and Economic Education) lessons across the school and 5EAL1Social and Emotional Aspetts ol Learning? lessons for KS2 & 3. The PSNEE curriculum has beell developed to ensurethatwe are addressing pupils. eMlOr1 wellbein8. as well 85 physical wellbeing. Boardin8 Staff regard the social development of their pupils a5 an integral part ol their role. Pupils give enthusiastic suprx)rt to fundraising activities such as BBC'5 Children in Need and the Chiliwiri School in Malawi project (which sends out a container of school unfform and trainersto the children). We offer a ranBe of enr(chment actlvf(les In our after-school clubs, includin8 4rchery, fencin& tW5h craft anLI Earden clubs, modein foreign languages. kayakin& GCSE revision, art and music.. and all pupils Ibtsarding and day pupils) are actively encoura8ed to take part ill these activities. The School renkins committed to maintalning smll class siies. thus ensuring that teachers know and understand 311 their pupils, needs, giving pupils the environment In whlch they can achieve thelr potential. This 1$ the first year ¢f Mark L¢vedaVs leadership. he was appointed as Headrnaster from September 2024 followin8 Nick Gootlman'5 retirement Bfter 10 year& Mark 15 3 Oy51exrd and SpLD specialist and 15 a Board Director for the National SpLD Assessment Standards Committee ISASCI. He regularly speaks at conference5 both nationallyand internationally, and 15 a Specialist Leader of Education, as designated by the DfE. The Headmaster w£s part of the SASC team who launched the new Delphi Study definition of dyslexla at the British Dyslexia Assotiation's internati¢nal ¢onference in the summer of 2024. Achievemènts and pèrftsmwntè The school's boardin8 proviOn was inspected by Ofsted in March 2025 and 355è55ed as'Goocf. 8oarders. who previDusly experlenced significant difficulties at ¥hool, respond to the individualised 5UPPOrt provided and make excellent progress. The SchLY)l 15 inspected by the Independent Schools Inspectorate which In November 2a23 found It to be compliant with its standards in all respects. The rnest recent CReSTeD report also reports ex1¥emely positivelyon all aspects of the school. We encourage puplls to slt GCSE exam5 or equivalent In as many subjetts as we believe they can mana8e.
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS, RESPONSIBILITIES Our Sixth Form has been establlshed forover 11 years with our cours&$ being offered in partnership wf£h Bexhill CollE8e. The remainderofihe week is 5pert at Frewen studyinsEnslish and Maths and reTriving support with independent Siudy, as well as lessons in lrfe ski115 intludlng careers advice. Where required, learners will also receive intervention from our onyte SALT. OT and Specialist teacher teams. Our leavers. destlnat10fi5 include numerous univer51ties. appntIce5hip cour5e5 and work., we keep In touch with many students and are deli8hted in their success. We are in the process of creatin8 an offlci81 school Alumni Association which will be knDwn asthe Fiewen Foundation. Year 11 re5ultslor summer 2025-. 63% of students achieved 5 GCSE passes at Grade 4+,. with 47% achievfjng 5 GCSE passes at Gde 4+ indudin8 English and Math5. Si¥th form resu5 for summer 2 25.. WÈ had a I{% pass across all Level 3 & 2 courses. At Level 3 $0% of srudents achieved a distinction. At level 2 43% of student5 achieved Distin¢tion. 29% at a Merit and 28% at a passgrade. Financlal wlew The robust fiThantial managernent resulted in a surplus of £405,59812024.. £438,740>. Thi55ummerasterm ended we started the malor refurbishmentand extension ofour kitchen, serveryand dining fODm whlch is due to be completed by December 2025. This will be a facility thatthe whole schcol will beneffit from and Includes an UPBrade of our fire detection system and an improved air extraction unit. As at the Balance Sheet date. the school had unrestricted reserve5 of £2,446,535 compared to £2,040.937 in 2024. These funds are to be kept at the discretion of the Govemors to further any of the Charity's objective5. We also have re5tricteil reserves of £405,510whlch relate to a donation received in 2023. Fees have been reviewed from September 2025, althoush Governors recognise the need to maintain 8ffordabllity of school fees and have continued to restrict the level of fee increase as far as Is consistent with financial prudence. The VAT exemption for Independent Schools was rernoved by the Government from January 2025,. therefore. all tees and addltional costs le.g. trips) were subject tD VAT. Rertwneratlon of S•nlor Managem?rt The day.tOpday running of the sch)ol 15 delegated to the Headmaster and Senior LeadershlpTeam. The rernuner*ion tsf key rnanagement is set by Governo, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewardingthemfairly and responsibwfortheirlndividual ontributionsto the school's succes5. The appropriateness and Televance of the remuneration policy is reviewed annualty, includin8 reference to compari50nS Wtth other independent schoo15to ensurethe5chool M81n5 sensitNelOthe broader is5ue50f pay and employment conditions elsewhere. Delivery of the school's charitable VIOn and purpose is primarlty depèndent on key management, and staff costs arethe largest 51n8le element of charitable expenditure.
THE FREWEN EDUCATIONAL TRUST UMITED (LIM ITED BY GUARANTEE) STATEMENT OF GOVERNORS, RESPONSIBILITIES Reserves pollcy It is the policy of the school that Itsfinantial affalrs are fflaintained within a tight budgetthat is approved bythe Governor5. The natureof the school's activities determines thatthe reserve5fund. propertyand other netassets are held to c¢)ver unexpected shortfalls on the Statement of Financial Activities. In previous years Governors have considered that, in the event of a significant drop in Short term fundin& they wlll be ae to continue the sthool's actiwtie5 while consideration is given to ways in which additional funds may be raised. There is no reason to chan8e this view however, to ensure the on80ing sustainability of the school Governors hav& determined that an annual surplus is essential to build reseS for capftal investment in the school. This Is consistent with other indEpenderrt xhools- an annual target of IO% of income has been 38rÉed, akhtsuBh it is re¢ognised ihat thi5 cannot be èchieved 1medIatelYWh11$t still rnaintaining affordability of lees. FdIng sourc•sand how ryenditure meetsoblertlve5 Schoo5 fees continue to represent the great majority of income. with addltfjonal Income 8enerated frorn grants and don*ions. and a small amount of rentsl income. The schty)I's Grade I listed bullding and grounds 15 also a wedding venue which is used durlng the school holidays. This raises much needed additional income to supportthe charitable objectives. The school is a150 reviewing and developing Dther wtentlal sources of income including the creation of the Frewen Advisorysupport selv1. offerlng external diagnostlcasse5smentslcY dyslexia, the wideningofthe Prep SchcM)I remit, and tTainin8 and development packages. All expenditure is dlrectly related io the salarie5 Df classroorn and support staff, the delivery of the school currlculum. and the upkeep of the school's premises, fixtures, fittin8s and equipment. The h0o1 continues to operate a robust means tested bursary scheme to as5i5t parents wfth school fees. Additional discounts and bursarles are available to children from Service fatniliÈs, and sibling discounts are provided. The Governor5 have a8reed a limit on the maximurn bursary commitments permissible, as proportion of total fee income. TheTru5t has wide investment powers, but any monies subjecttothe jurisdictlDn Df th2 Charity Commission for Eneland and Wale5 orthe secretary of State for Education or representing property so subject shall be invested On upon sLh investments and with such santtion lif any) a5 rnay for the time being be required by law. Pubwc Benefit l# setting the school's objective5 and plannin8 activitiès the Governors have 8iven careful conslderation to thè Charlty Commisslon's general guidance on public benefit. The school's specialist role. with a consequent hiBh proportion of Local Authority funded placement5, Sets It apart from the majority of the Independent sector. The means tested bursary scheme, and the 8uidance given to parents seeknng funding underpin the school's conviction that acce5S to specialist Éducation should be available to the broadest PQ$5ible Spectrum Dt pupils In terms of theirsoaal and èconomlc background. In addition, a number of the sehty)I's facilities are made available to the publi¢ in particular Northiam primary school adjacent to the school, the local villag¢ cricket club and h05ting a crgSS-COUlltry tluster event for local schools.
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS, RESPONSIBILITIES Brickwall Music andArts society, a lonEstablished charty stages regular muslc concerts in the schotsl'5 historic Drawin8 Rwm. and we h05ted the annual vill88e bonfire and firework dlsplay In october on behalf gf Northiarn Bonfire Stscièty, a re8iStered charlty. Asset coverfortunds The assets are sufflciÈntto meetthe charity's obligations. Plansfor th1 Cost controls continue to be developed to ensure a sound financlal operatln8 basis for the future. including adequate provlslon to secure the approprlate maintenance and future development of the premlses. Dlsclosure of Inform*lon to authtors Each of the direcrors has confimied that there is no information of which they are aware which is relevant to the audit, bLrt of which the audiror 1$ unaware. They have further confirmed that they have taken appropriate steps ro identify such relevant inforrnation and to establish that the auditors a aware of such Inforrnation. Audltors A resolutlon proposln8 that TC Group be reaFpointed as aliter5 of the company will be put to the Anhual General Meeting. On behalf of the Board of Governors Date D Hensley IChplnNnl
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF GOVERNORS. RESPONSIBILITIES The Governor5, who are also the dlrettors for the purposes of company law for the purpose of company law, ale responsible for preparing ihe Governors, Report and the accounts in accordance with applicable law and United KInM Accountln8 Standards (United Klngdom Generalty A¢pted Accountin8 Pratticel. C(¥Kpany law requires theGovernors to prepare accounts for each financlal yearwhith 8lVè a true and fair vlew of the state of affrai of the charity and of the incomin8 resource5 and application of resources, including the income and expenditure. of the charitable cornpany forthat year. In pparIng these accounts, the Governors are required to: select suitable accountin8 policies and then applythem conslstently,. observe the methods and principles in the Chariiles SORP., make judgements and estlmates that are reasonable and prudent., and prepare the accgunts on the 8oln8 concern basis unless It Is Snappropriate to presknme that the charty wlll tontirtue in Op¢tI9Th. Thefjovernors are responsible for keeping adequate accounting records that disclose with reasonable accur at any time the financial position of the charity and enable them to ensure that the accounts compty with the COmnieS Art 2006. They are also responsible for safeeuarding the assets of the charity and bEnce for taking rea50nabJe Steps for the prevention and detettion of fraud and other irregularitles.
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDEITf AUDITOR'S REPORT TO THE MEMBERS OF THE FREWEN EDUCATIONAL TRUST LIMITED We have audlted the financial statements of The Frewen Educaiional Trust Mited Limited Ithe 'charitablÉ c(Knpany'l for the year ended 31 Au8U5t 2025 whid) comprise the Statement of Flnancial Actrvities, the B31ance Sheet. the Cashflow Staternent and notes to the financial statements. The flnancial reporting fr3mework that ha5 been applied In their preparation is applicable law and Unlted xingdom Accounting Standards, Includin8 Financial Reportlng siandard 102 The Financlal Reporting Standard appllcable in the UK (United KingdomGenerallyAcceptedAccountingPracticel. In our opinion. the financlal statements.. 8lve a true and fair vlew of the state of the charitable company's affair5 as at 31 August 2025 and of Its Incomin8 resources and appllcation of resources. including its income and expenditure. forthe year then ended,. have been propedy prepared in a£cordance wlth Unlted nedrn Generally Accepted Accountin8 Practlce.. and have been prepared in accordancewith the requlrements ofthe CompaniesAtt2006. B8sis of oplnlon We conducted our audit In accordance with Intern8tlonal Standard5 on Audltlll8 IUKI IISAS IUKII and appllcable law. Our responsibllitles under those standards are funher described In the Auditor's responsibilleS for the audit of the flnancial statements section ol our report. We are independent of the charitable company in èCcDrd3n with the ethlcal requirements that are relevant to our audit of the financial statements in the UK. includin8 the FRC'S Ethical Standard, and the provislon5 avallable for small entitie5, and we have fulfilled our ethical responsibilities in accordance wlth these reouirements. We belleve ihatthe audit evldente we have obtsined is sufficlent and appropriate to proviile a basis for our oplnion. Concluslons relating to 8oln6 ¢oncem In auditing the linancial statements. we have concluded that the governorfs use of the 80in8 concern basls Df accounting in the preparatlon of the financial statements Is appropriate. Based on the work w¢ have performed. we have not Identlfied any materlal untertainties relat(ng to events or condltlons thaL inLlividually or collectively, may cast doubt on the charltable company'sabllity to continue as a 80ingconcern fora period of 8t lea5ttwelve months from when thefinanclal 5¢atements are authorised for Issue. Our responslbllltles and the responslbilitie5 of the gover$ with respect to going concem ore described in the relevant sectlons of this report. Other Infomiation The otherlnformation comprises the informatlon Included in the annual report, including the governorf5 report. other than the financial statements and our auditor's report thereon. The governors are responsible forthe other inf¢ymatSon. Our opinion on the financial statements does not ¢overthe other Information and. except to the extent otherwise expllcltly ststed in our report we do not express any form of assuran* conclusionthereon.
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OFTHE FREWEN EDUCATIONAL TRUST LIMITED In connertlon wlth our audit of the flnanclal statement5, our responsibllity Is to read the other informatlon and. in doing so, con5iderwhetherthe Dther Informatioh is materlally inconsistent wlth the fin8ndal statements or our knowledge obiained In the audit or otherwise appears to be materially mlsstated. If we Identlfy such material Inconslstencies or apparent material missiatements. we aré required to deterrnine whetherthere Ss a material misstatement inthefinanclal statementsora materlal misstatementoltheother information. If. based ontheworkwe have performed, we concludethatthere Is a matedal mi5Statementof thi5 Otherinformatlon. we are réquired io reportthatfart. We have nothlng to report in this regard. Opinlons on other matters prescrlbed by the Companles Act 2CW)6 In our opinion, based on the work undertaken in the course of the audlt.. the Inlormation given In the governors, report (incorporating the strategic report and the directors report) for the financial year for whlch the flnancial statements are prepared 15 consistent wlth the financial statements.'ènd the sÈrategic report and the directors. report have been prepad In accordance with opplicable le831 requirements. matte on whkh we are requlred to report by exceptlon Inihe light ofourknowledÉe and understanding ofthecharltzble companyand Its environmentobtained in the course of the audit, we have not identified material mlsststsment5 in the strate8ic report and the dlrectors. report. We have nothing to report In respect of the followlng matters In relation to which the CornpaniÈs Att 2006 requires us to report to you if, in our opinlon.. adequate accounting records have not been kept, or retums adequate for our audlt have not been received from branches not visited by us.. or thefinancial statements a notln agreernentwith theacrountin8 records and returns., or certain dlsc105uresof diréttors, remuneration specified bylaware not made.. or we have not recelved all the iaformation and explanation5we require., or the directorswere not entitled to prepare the financlal statement5 in accordance with the small companles regime ond take advantage of the small companies, exemptions In preparin8 thè governorf report and from the requlrementto prepare a strategic report. Responsibilitiesof gv¥emDf5 As explained morefuify in thegovernors, responsibilitiesstatemeni,thegovernorslwho are alsothe directors of the charitzble company for the purposes of company lawl are responslble for the preparation of the financial statements and for being satisfied that thty give a true and fair view. and for such intemal control as the gDvernor5 determine is necessaryto enable the preparotK)n of financial statement5 that are free from material mi55tatement, whether due to frdud Drerror. In preparin8 the financial statements. the governors are responsible for assèssing the char5table companrfs 8bility to continue as a 80in8 concern. disc105in& as applicable, matters related to going concern and using the going concern SiS of accounti unles5the8overnors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so.
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE FREWEN EDUCATIONAL TRUST LIMITED Auditorfs rewn51bllStlesfor thè audit of tfinanal staternents Our objectives are to obtain reasonable a55uronce about whether the financial ststemeftts a5 a whole are fieEfrom material misstatement. whetherduetofraud or error, 3ndtO155ueanauditor's reportthat includes Jr opinion. Beasonable assurance isa high level ofasSvnCe, but isnot a guaranteeth8t an audit condutted in accordance with ISAS IUKI will always detect a nNqterial misstaiemeffl wn rt exists. Misstatement5 on arise from fraud or error and are considered materfal if, individually or in the a88re8ate, they could reasonably be experted to inlluentè the eeonomK derisions of user5 taken on the basis of thes¢ fillancial stalement5. Irregularities. induding fraud, are instsnces of non-cornpliance with laws and regulatlons. The extent to which our procedures are capable of detectin8 irregularitles, Including fraud, 15 detailed below. E)rtent to whith the audlt was nSIdered (apablè of detectlnE Irregularitie5, Indudlryfraud The objertN25 of our audit, in r&spect to fraud, are.. to identifyand a55e55 the risks of material misstatement of the flnancial statements due to fraud,. to obtaln srlent appropriate audit evidence regardin8 the assessed risk5 of maierial misstatement due to fraud, through designing and implementing appropriate re5ponses,' and to respond appropriately to Iraud suspected fraud identified during the audit. However, the primary responsibilty for the preventiLlll and detertlon of fud rest5 With both those charged with governance of the entity and its management. Our 3pprcthch was as follows= We identified areas of laws and re8ulati0Tr5 that could reasonably be expected to have a materSè1 effert tsn the financial st3tement5 from ourgeneral sector experiente. and through discussion with the governors and other management la5 required by auditing standardsl, and discussed with the 80vernor5 and otheT man88ement the policies and pr¢xedure5 reBirding cornpliance with laws and regulations (see belowl.. We identified the follawing areas as those most likely to have such an effect.. health and safety., General Data Protecrion Regulation IGDPRI,. frauij., bribery and corruption. school Inspettlons. Keeping Children Safe in Education, DB5 checks. and employment law. Auditing standards limr( the required &udit proceduresto identify nort-compliancewh these laws and rè8ulatlon5 to enquiry of the8overnorsand other management and inspection of reBulatoryand leK41 correspondence, if any. The identified artual or 5U5pected non-compliance was not sufficiently signifKant to OUT audit to result in our response being identified as a key audit matter. We considered the legal and regulatory frameworks directly applicable to the financial ststements reporting Iramework IFRS102. the Companies Art 2006 and the Charities Act 20111 andthe relevant tax compliance regulations in the UK. We considered the nature of the charitable cornpanls operatic¢n5, the ¢ontrol envlronment and financial performance. We communicated identified laws and regulation5 thrgughout our team and remained alert to any Indication5 of non<ompliance throughoutthe audit. We considered the procedures and contrtslsthatthe charitable compaThy has establlshed to address risks identified, or that Dtherwise prevent, deter and detect fraud,. and how senior rnana8emÈnt monitors those prOdureS and controls. io
THE FREWEN EDUCATIONAL TRusf UMITED (LIMITED BY GUARANTEE) INDEPENDEMf AUDrroR'S REPORT TO THE MEMBERS OF THE FREWEN EDUCATIONAL TRUST LIMITED Based on this undefStandin8 we desi8n2d our audit prOdureS to identify non•compliance with such laws and reBulatlon& Where the rlsk was considered to be higher, we performed audit procedures to address e3ch identified fraud rlsk. These procedure5 included.. testlnE manual journals,. revlewlng the financial ststement disclosures and testing to supporting documentation,. performift8 analytical procedures.. and enquirin6 of mana8ement. and were designedto provlde reasonable assuraKe thatthe financial Statements werefree frorn fraud orerror. Owing to the Inherent1imttations of an audit. there is an unavoidabl@ rlsk that we may not have detected soffle material misst3tement5 in the financial statements. even though we have properly planned and performed our audit sn accordance with audttln8 stsndard5. For example, the further removed non- compliance with law5 and regulations lirregularitiesl is from the events and transartion5 rellerted in the financial statements. the less likefy the inherently Ilmited procedures required by auditing standards would identify it. The risk is also £ar regarding irregularities occurring due to fraud ratherthan error, as fraud Involves intentional concealmenL for8ery, collusion. omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non<ompliance with all laws and regulations. Use of ow report Thls report is made solely to the charltable company's wnernbers, as a boty, in accordance wr(h Chapter 3 of Part 16 of the Companies Act 2(K16. Our audit work has been undertaken $0 that we might state to the th3ritable cotnpany's members those matters we are requiredto ststeto them In anauditors, reportandfor the no other purpose. To the fullest extent permttted by law. we do not accept or assume responsibility 10 anyone otherthan the charitable CoMnY and the tharitable company's mernbérs, as a bod¥, for Dur audrc wofK orforthe gpinions we havefumied. Mark Cummlns FCCA Isenlor StatutoryAuthtorl lorand on behalf of TC Group Statutory Au(Itors Office.. Steynin& West Su55ex li
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST2025 Unrestrlcted Funds Restdded Funds Total 2025 Total 2024 Note5 INCOME FROM: Donations and legacle5 1,205 1205 279 Other trading artivities 23,735 23.735 42,951 Charitable actlvitles 4.712,548 4.712.548 4.580,935 Investment income 52,122 ll2 72,220 Total Income 4,789,610 4.78910 4.696,385 EXPEfrIDITURE ON: Raising funds 1,063 I63 1.214 Charitable a1VleS 4,381949 4.382.949 4.256,431 Total expendlture 4,384,012 4,384,011 4,257,645 Net IncomÈ and movement In funds 405,598 405.YJ8 438,740 Fund balqnces brought forward Fund balarKes carrled fowward 2,040,937 405.510 2A46A47 2,007,707 2A46.535 4D5.510 2,852,045 2A46,447 All ift¢ome and galns for the year are recognised above. AJI of the th¥rity'5 activities are classed as continuin8. The statement of financial activities also complies with the quIrements for an Income and Expenditu Account under the Companies Act 2006. 12
THE FREWEN EDUCATIONAL TRUST UMITED (LIMITED BY GUARANTEE) BALANCE SHEEr AS AT31 AUGUST 2025 2024 FIXEDA5SEts Note$ Tangible assets 2,175,993 L780.564 CURRENT AEr$ Stocks 1,750 Debtors 926,(191 1.011.071 Cash at bank and In hand 1.923,754 1,626,917 2,849.845 2.639,738 CURRENTLIABILITIES Credltors: amountsfalling due within one year cuRRENT ASSErs 12,173,793) 11,973.8551 676,052 665.883 TOTALASSEfs LESS CURRENTUABIUMESI NET ASSETS 52,045 2.446A47 REPRE5ENTEO BY: RESTRicfED FUNDS 18 405.510 405510 UNREsfRICfED FUNDS General funds 1446.535 2.040,937 1852K145 2,446.447 The atcounts were approved by the Board on ...2410412026............._.............-....-......... D Henslty IChaimi8nl CLvnpany ReglstraUon No. C#)875915 Charlty Reglstratlon No. 307019 13
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 2025 2Q25 2024 2024 Note5 Cash flow5 from operatin8 aetlvltles: Net In¢Le forthe year Adlu5tmentsfor. Depreciation charges Intert rKeiv¢d 405J98 438,740 12 122.949 152,1221 101,582 172.2201 Loss on sale of fixed assets 12 1.020 Decrease in stock 1,7SO 224 Decrease in debtors 13 84.980 219.642 Increaselldecreasel in creditDrs 14 199.938 148.4021 Net cash pro¥lded by opèratln8 a¢lIvleS 764,113 639,566 Cashflows from Investl artSvltle$: Interest received 72.220 Pre-Re8lStration vAT-red asset adjustment Purchase of tangible fixed assets 12 40.576 12 1559J741 1130,0361 Net cash used In TrNe5tln¥ arti¥iti•s 1467,2761 157,8161 Chan£e In cash and cash equlvalents In thèyeir 296A37 581.750 Cash and ¢ash equlvalents at the beglnnlng of the year 1,626J17 1,045,167 Cash and ¢a5h equfvalents * thè ènd of the year L923.754 1,626,917 Net cash At 01109ft4 Cash ffiow At 31108125 Cash at bank and in hBnd 1,626.917 296,837 1.923,754 1,626.917 296,837 1,921,754 14
THE FREWEN EDUCATIONAL TRUST UMITED {UMITED BY GUARANTEE) OTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGusf2025 ststutory Informat)n The charity is a charitablè company, limited by guarantee, registered in England and Wales. The registered office. company number and charity number a detailed within the Legal and Administrative Infomiation. Accountlng polkle5 2.1 Ba5 ot preparntion The financial statement5 have been prepared underthe Companies Art 2006. The CharltSe5 Act 2011 and in accordan with the Charities, StaternÉnt af Recommended Practice ISORP IFRS 10211 and Financial Reportin8 Stsndard 102. The financial statements are prepared in sterlin& which is the functional currency of the charity Monetary amounts in these financial statements are rounded to the nearest £. The charitable company meet5 the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at cost or transaction value unles5 Otherwise stated in the relevant accounting polrcy. 12 Golng concern After revlewing the charity's forecasts and projection5 10 the end of the 2025126 financial year and expertation of pupil nymbers beyond this, the 8ovemor5 have a reason3ble expectation that the charity has adequate resources to ConnUe in operational existence for the foreseeable future. The charitythèrefore contlnues to adopt the going concern basis in preparin8 its flnanoal 5tatèmnts. 13 Income Fee5 re[Vable and charge5 for serVis, less any 311owances, scholarships and bursariès granted by the school 38ainst th05e fees are accounted for in the period in which the service is provided. Where fees are received lor a future service period they a included in deferred income. including those fees ceiVed under an a¢fvante fee payment stheme. Investment and biomass RHI income is accounted for on an accruals basis. Donations, legacies. grants and other voluntary income are accounted for as and when entitlement arise5. the amount tan be rellably meèsured and the economi¢ benefit is consldered probable. whe a donor or an appeal has imposed restrSctions the intome Is credited to a restricted lund. 15
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 2. Accountln8 poll¢les IcontlnuÈdl 2.4 Expendlture Expenditure Is accounted for on an accrua15 basis With irrecoverable VAT included with the item to whith it relate5. Governance costs include those costs as50ciateiJ with meÈtTrn8 the constitutional ènd statutory requirements of ihe charity and include the audit fee5 and costs linked to the strategic management of the charity. Redundancy and termination benefits are rerognised immediately as an expénse when the charity 15 demonstrably committed to terminate the employment of an employee or to provide termination beTheflts. All costs are allocated beteft expenditure categories and departments on a basis designed to reflect the use of the resource. Costs relatlng to a particular attiwity are allocated directly. 2.5 TanEible fixed assets and depreclatlon Tangible fixed 8&sets other than freehold land are stated at C05t less depreciation. Depreciation is provlded at Trtes calculated to write off the cosi les5 estimated residual value of each ass•1 over its expected useful Ilfe as follows: Freehtsld land is not depreciated. Freehold buildings 1% -33% 5trai8ht line less estimated £SO,OCO for cost of land 25% dUcIng balancè 20% straight line 33% strdight line Portable buildings Flxtures, fittings and equipment Motor vehiclès 20% réducing balance Minor items of capital expenditure up to £1,[ are written off to the Statement of Financial Activities as incurred. 2.6 Leaslng and hire purchase Cummitmetrts Rentals paid under operating lease5 are charged against income on a stralght line basi5 over the period of the léasè. Assets obtained under hire purchase contracts and finance leases are capitalised a5 iangible assets and depreciated overthe shorter of the leaseterm and the useful life of the asset. Obligations under such agreements are included as CTeditor5 net of the finanTr charge allocated to future periods. Thè finance rharge element of the rental payment is charged to the Statement of Flnancial Activi(ies so as to produce a constant perrodic rate of charge on the net obligation outstanding in each period. 16
THE FREWEN EDUCATIONAL TRUST UMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 Z. Accounting pollcles Icontinuedl Z.7 P•nslons Teaching staff ernployed before l April 2024 are members of the Teachers, Pension Schème ITPSI, a defined benefit scheme administered by the TÈathers' Pension Agency. Contributions to the scheme are charged to the Statement of Financial Actnfitles 3S theyfall due. The TPS is an unfunded scheme. Contributions on a'pay as you go. basis are credited to the exchequer under arrangements govemed by the Superannuatlon Act 1972. Actuarial valuatlons are carried out on a notional set of investments. Under the definitions set out in FRS 102 the TPS is a multi-employer pension scheme. The charity is unable to identify its share of the underlying IhOti¢nall assets and liabilitie5 of the scheme. Accordingly, under FRS 102 the scheme is accounted for as if it werè 8 defined contribution scheme. From l April 2024 any new teachers are eligible to joln the Aviva Pension Trust for Independent Schools IAPTISI Scheme, a defined contribution scheme. The charity also contributes to personal pension schemes for its non-téaching staff. 2.8 Financlal Instruments The charity has elected to app the provisions of Section Il'Basic Financial Instruments, and Section 12'0ther Financial Instruments15sue5' of FRS 102 to 311 of its financial instruments. Financlal instrument5 are retognlsed In the charity's balance sheet when the charity become5 Partv to the contractual provisions ol the Instrument. B35ic fjnancial instruments are ¢0nised at amortised cost. 2,9 Debtors Trade and other debtors ère reco8nised at the settlerne¥rt amount due afterany trade discount. 2.10 Cash at bank and In hand Cash at bank and in hand intludes cash and short térm hl8hty liquid inve5tments.The 8ovemorssÉÈk to use shortand medium term deposltswhere possible to maxlmSse the return on monies held atthe bank and to manage $h flow. 2.11 Creditors and prOvIOn5 Creditors and provisions are recosni5ed where the charity has 3 present obli8ation resulting from a past event that will probably result Sn a transferof funds to a third party and the amountdye to settle the obligation can be measured or estimated reliab. 2.12 Fund ateountlng unStriCted fund5 comprise those funds which can be used in 3¢Cordan wlth the charitable objects at the discretion of the governors. Restrided funds are those funds that can only be used for particular re5tri¢ted purposes In accor(5ance wlth the wishes of the donor orwhen funds are raised for particular restricted purposes. 17
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 2. Accounting polides Icontlnued) 2.13 Judgements and key SoUrS of estimation uncertainty In the application of the company's accounting policies, the Governors are required to make Judgements, estimates and assumptions about the carrying amount of assets and liabilities that arè ncit readily apparent from other sources. The estimate5 and associated assumptions are based on historical experience and other factLirs that are considered to be relevant. Actual result5 may dtffer from these estimates. The estimates and underIn6 assurnptions are reviewed on 3n ongoing basis. RevTsionsto accountin8 e5timate5 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 fvtyre period5 where the revi5i9n affects both current and future periods. a. Crltlcal judgemènts In applyingthe entirfs aceounting polities Multlmployer defined benefft pension scheme Certain employees participate in 3 multirnployer defined benefit pension 5cherne wlth other entities. In the judgment of the govemors. the charity doe5 not have sufficient information on the plan assets and liabilities tg be able to reliably accountfor its Share of the defined benefit obligation and plan assets. Therefore the scheme is accounted for as defined contribution 5cherne, see note 16 forfurther details. b. Crltkal a¢countlnK estlmate$ and assumptlons The charity makes estlmates and assumptions toncerning the future. Thè resulting accountlng estimate5 will, by definition. seldom equ31 the related artual results. The estimates and 3ssumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities Wlthin the next financial year a addressed below. Useful economlc Ilves of tanglble assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic live5 and residual values of the assets. The uselul e¢on¢mic lives and residual values are re-as5ess2d 3nnually. They arE amended when rne5sary to reflect current e5timate5, based on technological advancement, future investments. economic utilisatlon and the physlcal condltion of the assets. See note 12 for the carrylng amount of the property plant and equlpmen( and note 2.5 for the useful ecowmlc1Sves for each class of assets. Impairment of debtors The charity makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtor5, management Consider5 factors including the current credit rating of the debtor. the ageing profile of debtors and historical experien.
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AU6UST2025 Tumover The turnover of the charlty is Whol attributable to the obleets of the ¢harity as Stated in the Governors, Report and is earned entirely wlthin the U Net 1ntorne/(expendttul Thls is ated after charging.. 2025 2024 Operating lease payments 34,377 32,498 Depreciatlon 122,949 101.582 Auditors. mneratIOn-audlt Services 13.200 14,820 Auditors. remuneration-non-audit seryice5 18.220 TaxatFon The charitable comparty Is registered as a charity and all of its Income falls within the exemptions under Part 11 of the Corporation Tax Act 2010. Income from donatlons and legaci Unrestrirted Restrt¢ted Total 2025 Total 2024 Donations 1.20S 1,205 279 Income from other trading aCtltIeS Unrestrfrted Restrftted Total 2025 Totsl 2024 Lettings income 680 850 Othw income 2,675 2.675 8ioma5s RHI income 18.732 18,732 22.63S Weddings 1,648 15.124 23,735 23,735 42,951 19
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGusf2025 Income from charitsblÈ actlvltles Total 2025 Total 2024 Gross sthool frees 4,468A75 4,437.230 Less bUrieS and allowanTr5 153,471) 1111,1761 Net SC01 fees 4A15,iX)4 4,326,054 Add- Registration fees iioo 3,ISO Extras Income 235.599 197.051 Schoot bu5trransport income 59.845 54,680 4.71Z.548 4,580,935 Analysls of Expendlture Staff Costs Oepreclatlon OthertDSts Total 2025 Total 2024 Cost of raisinglunds". Financing costs 1.062 1,214 Total of raisin¥fund5 1,214 Charftabl• pendItUre Educ*lon Teaching 2.222,929 394.585 1617,514 2.648,081 Welfare 325,286 119,338 429,920 Prefflise5 356,036 122,949 419,974 898.959 812,821 Support and governance 249,055 172.797 421OS2 365.609 Total charitable expendltwe 3,153306 122.919 1.106.694 4382.949 4,256.431 Total ExpendSiure 3,153306 122.949 1,107,757 4.384,012 4.257.645 20
THE FREWEN EDUCATIONAL TRUST UMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AU6UST2025 Analysis of Expendlture Icontlnuedl Analysls of sUPPOrt and governance costs: 2025 2024 Governance costs: Auditors remuneration for audlt servlces 13.200 14,820 Governors, expenses 423 423 Total Eovemance costs 13,623 15,243 Support cost5.. Auditors. remuneration for non-audit services 18.220 9,880 Legal and profe55i0nal fees relatingto support 36,430 43,161 Support staff wa8es. national insurance and pension 249.055 224.812 Other support costs 104,524 72513 421,852 365,609 10. Staff costs The average Tnonthty headcount wa5 9) staff 12024: 91 stsffj and the number of full time equivalertt employees during the yearwas.. 2025 Number 2024 Number Teachlng 43 47 Weffarè li io Premises 14 12 Support 73 74 The aggre6ate payroll costs for the year were as follows: 2025 2024 Wo8es and s3larie5 2.501,918 2,505.101 Social security Costs 271,313 233,620 Penslon costs 380.075 357,333 4153,306 3,096,054 21
THE FREWEN EDUCATIONAL TRUST LIMITED ILIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AU6UST2025 . Staff costs Icontlnuedl Staff earnlng in Èxcess of £GO.000 per annum In thÈ followlng bands are.. 2025 Number 2024 Number £60,000. £69,999 E70.000- £79.999 £80,000- £89,999 £ILX).OLKI- £109.999 £IIO.OLKI- £119.999 Of the ernployee5 whose ernoluments exe0 £60,000, 212024. 41 have retirement benefits accruing under defined benefit schemes and 112024.. 11 has retirement benefits accruing under a defined contribution stheme. Contributions payable by the company forthose employees were.. 202S 2024 Defined benefit xhemes 41.684 81.905 Defined contribution schemes 5,905 5.472 The key management personne1 Isenior LeadershipTeaml ofthe Sch)1 are detailed in the Governo. Report and LÈ8al and Admtnistrttive Information. 2025 2024 Aggrete ernployee benèfits of key mana8Èment personnel I I 432.551 561,847 * This includes ernployerfs national insurance and pension contributions. None of the governors received any remuneration or other benefits from the school or any connected body. One of the Governors hèd travel related expenses reimbursed totallinB £42312024.. £4231. 22
THE FREWEN EDUCATIONAL TRUST LIMITED (UMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 11. Comparatlve Statement of Flnanclal A¢tfvltle5- yèar ended 31 August 2024 Unrestricted Funds Rortrieted Funds Total 2024 INCOME FROM: Donations and le8acles 279 279 Othertradin8 attivitie5 42.951 42,951 Charitable artivities 4,580.935 4,580,g35 Investment in¢ome 72,220 72.220 Total Income 4,696,385 4,696,385 EXPENDITURE ON: Raising funds 1.214 1,214 Charitable activitios 4.256.431 4,256,431 Total expendi¢ure 4,257.645 4.257.645 Net Income/expendlture and movement In fund5 438.740 438,740 Fund balances brought fonward 1,602.197 405.510 2.CO7,707 Fund bal*Nes carried forward 2,040,937 405510 2,446.447 23
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 12. Tan8ible fixed assets Ass•ts Lknder Constnittion Freehojd Property Fixture5 & Flttlngs Motor Vehldes Total Cost At I September 2024 218,375 2.061.772 461,091 60,381 801,619 Additions 284.935 135,014 14Q,025 S5974 Disposals 185111 111.922 120A33) Pre-regisuath)n VAT adlustmeni 17.33SI 13.0931 127.2351 12.9131 140.5761 AI 31 Au8U5t 2025 495.97S 2.185.182 561J59 57.468 3.3J.SB4 Depredatlon At I September 2024 668.524 316.545 35.986 1.021,055 Charge foryear 39.263 74.585 9,101 122.949 Eliminated on dlsposal 18.slll 110.9021 119N131 At 31 August 2025 699.Z76 380,228 45.17 i.ll4,591 Net Bookvalue At 31 Au8USt 2025 495,975 IA85.9)6 181.731 12.381 2.175.993 At 31 Au8U5t 2024 218,375 1,393,248 144,546 24.395 1,780564 13. Debtors 2025 2024 Fee debtors 868091 945,661 Other debtors 17,993 17,993 Prepayments and accrued income 39.607 47,417 9Z6.091 1,011.071 24
THE FREWEN EDUCATIONAL TRUST UMITED {LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 14. Credlt¢rs: due within one year 2025 2024 Trade creditor5 44.280 51,956 Other creditor5 34A55 49.795 Accruals 213A15 40.362 Fees in advance I,51738 1.651.756 Pupil deposits 86,772 128,250 other taxes and soclal securrty Z77.333 51,T36 2,In,793 1.973,855 Fees In advance represent fees due for the Autumn term 2025. 15. Commltments under optratlng le35e5 At 31 August 2025 the company had totsl eomm(tments under non-tancellablé opÈratin8 leases payèble as fDIIows'. Othèr 2025 2024 rthin one year Between ce and flve years 30.000 17,933 47,933 31,237 55,443 Lease payments recognised as an expense In the year amount to £34,37712024.. £32,498). 25
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AU6UST2025 16. Pension commitments The Sch¢YJl p3rti¢ipates in the Teachers, Pension Scherne I"theTPS°I for its teaching stsff. The pension charge for the year includes contrlbutlons payable to the TPS of £275,61712024.. £292,960) and al the yearnd £29,347 12024. £26.6621 was accrued In respert of contributions to thi5 schen7e. The TP5 15 an unfunded multi-ernployer defined benefits pension scheme governed by The Teachers. Pensions Regulations 2010 las amendedl and The Teachers, Pension Scheme Regulations 2014 las amended). Members contribute on a'pay as you 89. ba515 Wlth contributions from mernber5 and the employer being credited to the Exchequer. Retirernent and other pension benefits are paid by wblic funds provided by Parliament. The employer contribution rate 15 Set by the Secretary of State following scheme valuations undertaken by the Government Attuarfs Department. The most recent actuarial valuson tsf the TPS was prepared as at 31 March 2020 and the Valuation Report was publithed in Ociober 2023. The Valuation Report 5how5 notional assets of £222.2bn and liabillties of £262bn. re5ukiffig in a xherne deficf( of £39.8bn. The employer contrfbutlon rate for the TPS is 28.S%, and employers art also required to pay a scherne administration levy of 0.08% givir8a total employer contribution rate tsf 28.68%. From l April 2024, any teaching staff who join the school are now eli8ible to join the APTIS defined contribution pensions scheme. Employer contributions payable to these schemes were £104.45712024: £63.0741 and at the year end £1,49212024.. £5.9601 was accrued in respect of contribLrtions due to these schemes. 17. Sharè capital and tontrol The charity is limitéd by guarantee and doe5 not have a share capital. In the ewent of a windin8 up each member guarantees to contribut? an amount of no rnore than £1. 26
THE FREWEN EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 18. Summary ot fund movements Ba18nce at I September Incomlng Resources Resources ExpeThled Balance at 31 August 2025 Transfers Unrestrlrtedfunds General reserves 2,040,937 4,7É9,610 14.384.012) 2,446535 Restrlcted fund5 Performance arts space 405.510 405,510 Total funds 2A46,447 4.789,610 14.384,0121 852.045 Unre5tritted funds: These a funds to be spent or applied at the discretion of the Governors to further any of the Charity'5 objectives. Restricted funds: Donation was recelved from Stanbridge Earls School Trust for the Charity to use towards the equippin8 the performance arts Space. As at the year end. no equSpment has been purchased by thè school yet. It is the intention of the schotsl to begin utilising this fundlng during 2026. 19. Analysk5 Ot neta55ets between funds UnStrIcted Funds Reslrbcted Funds Total 2025 Fund balances at 31 AuRwt 2025 are represented by. TaTrgible fixed as5et5 Cuirent assets Credltor5'. les5 than one year 2,175,993 2A44,335 12,173,793) 2,446,535 2,175,993 2W,845 14173,7931 2A52,045 405,510 405.510 Unrestrlctèd Funds Restrftted Funds Total 2024 Comparatlve Fund balan¢es at 31 Auiurt Z024: Tangible fixed assets Current asset5 Creditors.. lessthan one year 1,780,564 2.234,228 11,973,855) 2,040.937 1,780,564 2.639.738 11,973.8551 2,446,447 405,510 405.510 27
THE FREWEN EDUCATIONAL TRUST UMITED (UMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST2025 20. Related partie5 During the year governors were reimbursed travel expenses totslling £42312024.. £4231. There were no other related party transactions during the year12024= none). 21. Capitsl commTtments Atthe year end the school has capit41 commitsnents totallin8 £587,301 lextluding VAn in respect of the Kitchen proiert. 28