Ch)rity r•9btralk*n numb•r 307024 (England and Wal•8 eoimpony re91slratlon number 0ts543113 FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Governors N M S G Barthotompw AJSmith (AppoinW 19 November 2024> Charfty nyrnb•r 307024 Company number lQ543f13 R•gi¥tor•d offi¢• and prlnclwl address 8dn8y Cottrt Cro3sways Bdney Hayw.ards Heath Wesl Sussex RH17 5RD Auditor TC Group The Coijrtyard ShO￿h8M Road Uppgr Beeding st6WNt)g West &88ex BN44 3TN Accountant Moor8 IS¢)ulhl LLP 9 Sl Johns Place NewF(Jrt 1818 of Wighl P030 1LH Bankers Natwast Bank Pk 1 Muster Green Hayyrdrts Heath West Su55ex RH16 4AP FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED CONTENTS Pag• Tru8tees' r8port Stalement of truste9< respDn8ibililie8 Independenl audttoffs rep(¥l 9-11 Stal8m6nt of financial aclivike5 12 Balancè Bhèet 13 Stat8menl of c4h Ilryws 14 Notes lo the fln8n¢ial *atemw 15-30 FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 Th? Tw5tee$ ptesgnt th* report arwj the audtted finaftctal statements of Ihe Chwity for the year end￿ 31 AwJusi 2025. The Tyuste¢s have adcyted the Provisi￿$ of Ihe Stalemenl of Recommended Pr8¢tice ISORPI 'Accountu￿ and Reporting by Charfti¢s' IFRS102} in preparing tho anrwal rewt and finan(io1 statements of thg charity. Thls report roqulrements lor Ihe DITectors arKI Strate9lc Reprt as Tequired by Company Law. Thè fir￿la1 sl8tam8nts have b9en prepared in aC￿rdanCe with th• acwunting policAos s•1 out in nole I to the fviancial slat8m8nts and wly th• ch￿1￿$ a￿clOS of assodallon. STRATEGIC RepoRTr. OWECTNES. AIMS AND ACTIVfflES Famey Close Sch)ol's ain) is to provkle educational and social developmtrnl OPFK¥lunitles for chlhJr￿ and young people aged 9-18 w￿. folkm'ng the Introduclltsn of the Child￿Tr & Famlltes Act 2014, have an Education, Heatth & Care Plan for So¢fal, Emolicmal •KI Mentsl Health needs. An students who attenrj the sthool are referred by a rarpe ol L(￿81 Aulhoriiies Bcrosslh8 South and Soulhèast of England. Ow key obiectlvèA •re*o: Provide an academic. V0￿11¢nal. ar¥J S￿l01ty leamirrfJ envtronmerrt that supports students lo aGhieve economic ￿lIbeing, to be ablo to maka a positive contribution to thèw family. the lo￿￿ Comn￿￿1ty and to soaety In general. Prtsmote a posrtive seyse of personal weTlbÈiny amongst students. Provide slutlents with a fvll gntiuement to the Natitin81 CuThiculum and a rnnge of exarninatKsn suty"8cts at levels Ihal match their abilities and inidl8ctuaVcognilive capacty. PTovid& students with a packag8 of care that supports and develops thwr Bmutional maturity aThJ mg¥ts thgir gX4al educational nggds. Provide students with a range of vocationd OPFwMunilI￿ to support a SLw$$ful Ifansilion into the work- related •nvironm8nl Malntan tho 8uslainability oftho sthod thrcwgh: . Positsve Inspection 8nd monitoring reports. Managgd. rfjsponslble lee $¢ttlng, High Quality res¢)urces and aceommodalion, Regu19rqu8lrty *aff training and profeSS￿TraI development opwrtunths. Cond￿t[n9 qu8Mty a&surance exerclses 8nd the collectK)n and rewew of appropriatè data to ￿￿0m1 plann1￿. Our Ethos, Strats9y and Pollcles The charity alTh￿ to meet its obledv88 by carylThJ out Its acllvitth In line vrith the schods. policies and procedures. Antlkndlwknlnatlon and Equaltty Prowded they have an EdtLgtll)n. Heth & Core Plan. F*ney Close is open tr> students WIKJ ar• rgferrgd and I￿￿&d by their L0(31ALrttr￿rty. W8 are an equal opportunlty or9anisathM ojmmltted tr) a working 8nwronment that is fr10 from any fomi of dis¢r¢mination as id9nlifigd in th8 Equalily Act 2010. We WIH makg reasonable adjushrents to meet Ihg needs of Staff or pupils who are. or may bocom& dtsablod. &nce the incgption of the Equdity Acl 2010 tho School reviews its compliancg in thi8 area of legislaO¢)n annually. Publ1¢ B•nofft In 8ettlng ow oblethes and pLqnnlng our a¢0￿￿*8, the Tnths hfjve glv*n Careful consid•r8tton to the Char4ty Commisslon's general guidance on puMc ljenefit and In part(cular to Its StsFplementary PLtbllc bentsfft guidance advandng academic. SOCFal ed[￿ti￿ and on fe&charglrKJ. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORn (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Safvguarnlng Th8 schod continues to be commilled to 8*uarding and promotrrwJ thg wglfare of its students. This focLk818 $hafed by all fnu8to8s aTrJ staff. As part of thls. thfj sthcd'5 D6sNJnatsd SthgiJ8rding Lgads und&rlake regular 8tabJtw IraiThng to support thgSr duU95. All membgrs of staff ar8 tr8in8d in thg 8chool'8 Ch'kl PrOtsct￿n Proc8dur9. ￿ defined withÈn the guklanco s•t by th8 Local Safeguarding Tgam, wilh annual refwhgrs. A Safeguarding tsam is in place and conssts of.. D8signaled Safeguarding Lead IPrin(apa]l. Two Depthy Designated Saleguarding Leads (Head ofcare and Ihe sch￿1$ Soclal Worf(er), SENCO. . Nurse. . He8iJ of EdUrA￿nI81so the sth0015 CEOPS 8mb8s$8dwl. . Relenab and Inclusim Officer. . A Safegu8rrfJng Governor reprnsentativ& Both the Prindpal and the School'$ Soaal Worker are regisloTed wth s(￿ Work Ervjland. The SchoDt knial Worker wuks wilh all students benefit from secial work input. The &1￿1 Nurse and (pjr Referrals arKI Indusion OfficeT supwrl ￿￿th Safeguarding related mattBFS sumunding n*•W pUp￿S btrt has a partKular focA4$ on 8888S8n8nl of pol￿1181 nèw puwls and gnsuring high attendan¢x is maintangj. Thg sd)o(A continues to uso an embedded pro¢g5s of r8cording 811 S￿9￿ardIng o)nGems. along ￿th all nddents. ￿ our Management Infonnabon System - CPOMS. ThL8 enables us lo re¢onl, track and reflact on all ineident6 and cloarty recotdod tha follow up on all r8COfdings. Th8 continues to operate 8 behawour approach in a structsjred m8nner with rjeèr boundar5gs and expectstions of bohaviour in placg. Alongside this. Ih¢rapy and c4)unsdlin9 ￿&Y a vita] part in the work Ihal we do. Our SEND team has incroa¥ed ovei the la$1 ¢oup* of years and plays 8 Vital pgrt in both the academlc 8nd soclal progress of all 8knJents. The schtx4 18 on 8 lourney to bowne 8 Traurna Informed SCI￿1 with tralnlng having taken place for 811 stafi. Iwo staff rnember9 have o)mpl&ted th& Traum8 infr daswooms an¢J a forest gthooL4' area. Three staff undertook their Forest Schook trdining and we now h8ve a dedirAted area on the sthoDI site for Forest SCE￿Is. FO￿$t Schools is offeTBd through the Schryjl day to KS2 and KS3 pupils and also during the evening for cwr re81dential pupl$. A new OLrtdoor dassroom was donated to prowts ftjrther opportunities for ouldt 18aming. We are workng on obtthing ¢yJr Trauma Infor[￿1 Sch(MJl awa￿ which to achievo thb ygar120251 261. In January 202S we hw)vod fffjm 5 lesson$ a day lo 6 wilh the 6th b￿n9 0 losson dedi￿ted lo lifv skiiFs and W911being whlch will ￿ offered to all year groups. Thls will be rewewed, amended and embodijed ¢)ver the ¢omlny year. Th1$ opportunity promdes experiences to chlidren tr> Wp Ihem wep8rg lor adutthood as weFI as 18amlng o 8frn8e of wjventure In a safe en¥1￿me In Sept•mber 2025 wg lrfaled IntroduclNJ halr and beauty Into our v0¢4Uonal offor. A lo￿9•k ¢ours• has been un¢ert8ken by 3 Pul￿1¥. Th15 has boèn a ¥lgnlfl¢8nl suttgss so w• WIN bg looklng 8t how bosl IncorpoT8ting thls knto t￿r I￿41 pffor as wè move forward. We havg rOl￿at￿￿ our school Ibrary to a more location fty the thd8nts so Ihat we can further enhance r&arJing acmss schrd. Ovor thg coming acadgmk year wll be intrDducing an effiuenl and effective way of InonFtc*ing t)s)oks being laken out and retumed whilst increasing our ov6rsight of whth tMx)ks children are reading to ensure that Ihey contwiue to be acadamicalty cholleng8d in this ar8a. Care We aim to ¢ontrnue to pruYLote the Ir￿rt￿ of our resKkntlal experienc* in supporting st(Mknls in leaming through 8 24-hour curricLAuffl. Here the focus is on social and independent siolls to ¢nabb the students lo be¢ome adults th8t succeed irr society. Whilsl this Is a focus for our wotk Y￿th our resldent181 pup'ls, we also kok to offer pestor81 care to our day puimls. sijpporting Ihem in their journey Into adutthood. A new sockql. emotional ar￿ lea¥r￿ng fe¢ord ha8 been laurthTrd (Sept 20241 to record all students progress in th1$ aroa. Pr•mlg•• Development of the 8chool grounds 15 ongolng and fO￿S part of th8 fi¥e-year m8ln18nance and developm8nt plan for the whol8 sil8. Thi& vlll enhance the opportuniti8s for gnrl¢hment and Outd(￿ learning, whilst It knprove8 th8 s8¢urity and safoty of tho %hool sltg. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORn {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 STRUCTURE, GOVERPWICE AND PAANAGEMENT The Charity Is CQntrd￿d by its govpAnlng dotyJm8nt, th& Memorandum and Artides of Aysodalon. and 15 constthled as a limited o)mpony by guarantee. as defined by the Companl8gfvd 20C6. Thè Trustees of the Challty meet regularty to ensure that all safeguards and dpcks are in k4a¢e to milyte any ri$ks to thg Cornpany and lo ensure that it ¢omplles wlih Ihe Wulat￿n$ of Ihè Ch8riles 8nd the Companies, The Articles of AS￿lati￿ revthtten 8nd 8doptsd on 25 November 2024. The decision wo$ made to chonge the Charity n8n* to Famey Educalion81 Tru$t wlth Famey CbBe Schrx)i rem8Snlng 08 8 Iradlng name. The Trustees continue lo r¢vlew and approve the accounts. ané appolnt naw Trusiees as and when approprtate. When setttng SCI￿1 fves, the school Ils respons11￿lIty to WO￿ hard 8nd offer valEie for money lor r￿erlIng Local Authorities. At the sam& ￿Me. it also acknowledges its duty to malntsln an appropdat8ty b81anced provision for th8 sluderts. The Trustees, who 8ffj also the for the purposes of c>Jn7pany law, 8nd ¥tho seThed duthg the year and to Ihe date ol Bignatyre ofthe finand81 sl*ments were: C S John5 N M S G BatholomwAf AJSmlth KBLark {Reggned 9 Docomber20251 (Appoinled 19 Nov8mbw 2024> (Apptslnlèd 2 Soptefflber 2024 and resigned 19 November 20241 (Appointed 2 Sgplembor 2024 and f88ign&119 Novomber 2024) S A Larktns Recfultswnt and Appolnlm•nt of r￿￿ Trust The Trustees have 9x￿Or￿j th& b8ffters in Flace localy and nationdty on reCruIt￿nI and retsntion and looking 81 gettlng the right pecyle around the tAt4e. We have been SU￿ssful in the rmitmet)t of som nw Trustees. Curr8nlly Ihere 15 a re¢Yuiln*nl drfvè for Tru8tses and Govemorn. Having the rfghl mix of peop￿ skrfs on the boafd enables the Truslegs to have multlp19 perspectNes. and are able lo debale issues robuth. arml who then speak unity of vde* and message about Ihe decislons made. On 8ppokntment am new Tw5tees 8re wovlded with IndLKtlon and Infomiallc￿ pack and ￿et the Cha>r to tslk atout responsknlibes Inductlon and tralnlng of new Trust••$ The Board havo a¢rRss lo trainlng The K8y for Govemots and the Na￿Onal Govern8￿* A$81Xtalion, as well 88 Iho QPPOrtunrty to atteTrJ in-l10L￿e trainin9 wilh the school staff. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMrrED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORn (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Organlsational S1￿CtUr* The TntBtOOS m88t at18881 SLX a y￿. The Twst Board ss respOn￿ble ￿ 8n8uring that high stsntsrds of co￿orate govemwce arB mBinlglned. It exerc4S85 its F4)wets in a largely stratsgic1oad&r5hlp lo￿ in th8 Nnning of the School. The Board.. undartakgs policy developmgnl and strategic planning; ensures sound managemenl arKI 9d￿￿T￿strats0n of thg trust b that ￿nagerS are equipp8d with relevant sknlls g￿dance.. 8nsur89 complance with W rèquirements: establishes arKI mahntains effective iniemal Co￿r￿5.. manages th8 trLtsVs fiThgncial. human and other res(AWfW (ln part￿lar o)nlrc4 over the spenrfinu identified the Schcds devdopment ￿an1. morotors perfomiarKe aTrJ the achwsmenl of obiectNeS, and ensures that plans for improvemont a acted uwn: . provides a framtswoTkfor the Sthotd to be restK>n51ve to tho needs ofpfjrents and th8 CA)mmunty: sets the School's stsndards of ojnducl and valu& Th? Boarij of Trustees deloyate8 day-to4ay yovemanrA ol school mattors to the Govemors, who report b8ck lo th8 Trustees on Ihg exerc1￿￿j oflh9$8 r95ponsIb￿*￿e¥. Dlsclo¥uro of informallon to auditor So lar as the trustees are a¥wdra, there is no rgl•vant inlormatw of whlch the charrt8t40 compan15 auditors are unawa￿. Additsonalty. Ihe twslo88 have taken ne¢essary staps that they Objghl lo have taken in ord&r to mako th8m Se￿e$ 8war• of all relevant audit infonnab'on. and to establish Ihat the company's auditors ar8 aware Of that infomiation. Th￿ report was approved by the Board of Trustses. In approving the Trustees Annua5 Rèport, the TrusteBS also srove the Stralegtc Report Included thewin. in our capasuty as Company Directors. AJSmith Trustee DaleiL" 7 May 2026 FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 Thè Trustees ar8 responsibfo for prèpafhig tho acuunts in accrJrd8ncé wilh aP￿1¢8b19 l&¥ arKI United Klngdom G•ner8ltyAc¢epted Accounting Prathcg. Company law requlr88 th• Tnjstsos to prwro a¢counts for eooh flnanclgl y¢ar. Under that law the Twslo•s have elected to pr•pgr9 th8 accoun18 In a¢cord8nrAJ wlth th• Unlt•d Klngdom Generally Ac¢ept¢d AGMuntlng Practko {iJnMed KJng(bm Accounung stsndards and 8pF4kablg18w}. The accounts are requirod by law to glve a true ond fair v18w of the stats ￿ affairs of the chaiitabb caynpany and of the surplus or defi¢ll of th8 charrtablo company for thal pgrf(Kl. In pr8panng thos* *cwunts. th& Tw8to88 are required lo: select suilablo o(xouniTng ￿lICI&S anrj Ihen appty them o)ngistenty. make jl￿genpnts and estimates that ar8 reasonable 8n(i prudenL' stats ￿eth￿r app15¢èble awJJLmting stsndords hav8 been followed, subject lo any material departuros disclosed and explained in the accounts preparg a￿ounts M th# golng conoem bos18 unle55 it Is In8ppmpriats to presume Ihat the djaritoble company wil conllnue Ir) buslness. Tts Trvstees are rn¥ThsIb￿ for ke8plng prDper 8ccounllng records whrch disdose wllh r¢a$onabte accura¢y al any time th$ financial F(j5ltK￿ ol IhB tharilabl8 company aThJ ID enaUe them to ensure that the accounts comply with Ihe Crjmpanies Act 21XJ6. They orè also Tesponsiblfr for safeguaTdin9 the assets of ihe charitable company and henc8 for taking r8asonabte 3t8ps for thg prevention and detection of fraud and otherirrogulorfti8S. Company law requlre$ th& Twstees lo prepare ftnancial slatem$nts for each Iln8ndal year which give a true and falr ew of Ihts state of 8ffalr3 of thg charity and of the Incomlng resour￿ and appli¢otion of ￿$Our￿, Indudin9 the Incom8 and expendlture, of the charftsble company for Ihal year. In preparing these financlal statements. the TTU5tees arn rgwinl to.. - $019ct suitatle accounting policigs and then apply them cons¢stetMIy: -observe Ihe m$thod5 and prinoplgs in the Charities SORP. - make judgements and estimètes th8t are reasonable and prudsnl: - $tste whether appjlcgble UK AcrI￿nting Stsndards ￿ve been folh)wed, subjecl to any material dep8rlures dSsctosed and explalned in the financlal stslements: and - wepare the fin8n¢ièl Stater￿nts on the concom basis Unl￿ It Fs inapproprE8te to presume thal the tharfty will continu8 in operabon. The Trustees are resportsible for keeping adequale accountiro records that disdose w7th reasonable accuracy at any tsme the fiA•ncT81 posilion of Ihe ¢hartty and en8blè them to ensufe that the fin8nci81 gl&tements compty wilh the Componi¢s Act 2￿6. They wo a130 re5pon$lble for safeguarding the assets ol the ch8rfty and hence lor tsklNJ reasonable steps for the pmentlon 8nd dtslectkjn of fraud olher irre9ulaFllle3. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARNEY EDUCATIONAL TRUST Oplnion We have auditad the finanthal $tatsIr￿ of Famey Educational Trust {thè'charitaN8 compan￿) foT Ihe y$ar end•d 31 August 2025 which comprise th• Statement of FIna￿Tal ActAiilies. the Balane4 Sheel. tha Cashflow Slalèmènl and notes trj tho finarKial slalements. Th8 finan¢i81 reporting framoworf( that has bggn applied in th•lr proparation 1$ applicable Igw and Unit8d Kingdom kn¥Junting Stsndards, incluéing Flnancial R•portin9 Standard 102 Tho Flnanual Reporting Siandard applicable in the UK (United Kingdom Gener811y A¢cepled Ac¢ounlirvJ Practical. In our op￿lon, the financial stst8m8nts: gfve a true and lalr of the state of the tharÈbble coFnpany's affairs as at 31 August 2025 and of Its I1￿mIng resowco$ and 8ppltallcffl crf resources. Indudlng Income ansy expendkurts, for the year then ended-, have been Froperty wBpared in acLYJrrJance with Untted Klngdom General￿ Accepted Accouniing Pradl¢e,' at have been prepared in actordan¢e wilh the reqLHrem•nts of the CompanlesAci 2006. Baits for opinion We conducted our autht In accordance thllh Intemalonal Stsndants on Authtiftg {UKI IISAS {UK)} and appllcabje law. Our responsibilities uThler those 51andard$ are fvrther descrlbed In tho Auithlorfs responsibllhles for the audr( of the financlal statements section of ovr reporL We are independènt of the tharftsble wmpany in aco)rdance wlth the elh￿l requwemorts that are r8le¥anl to our audkt ol the finanrial Stat￿Men1$ In the UK, induth'ng the FRC'S Ethi￿1 Standard, anrl the pto¥i8ions available for sm611 gntiti88. and we h8ve fuN18d our ethul respon8ibliti83 in accordancg with these requTrmerts. We bdiove that th8 audit &vidence we have obt81n￿l is suificient and appmpriate lo wovid8 a for our op￿710n. ¢I￿GIUs1on$ rglatln9 t• Wng ￿nC•M In audillng the financral stalements, we havè conclu(led that Ihe trustees, use of tho going concern basis of ¥c¢ounliny in Ihe pr¢p8ration ofthe flnan¢i¥l ststements is appropriats. Based on the work wg hav• ptrrfomied. ￿ have not id￿tif1&d any ma￿lIa1 uncgrtaintigs Trlaling lo evants or e¢ndilions IhaL individually or collectively, may casl doubt on tharitable ¢ompanlg ability lo cofttinuè as a goin9 eoncem for 8 wiod of 81 least twelve months from when Ihe financrdl stalemenis are authorised for issue. l)Jr r8$p)n$lblHlie$ and th9 ro$ponsbffit￿ of the tr￿1888 Wth resp8¢t to gung concern are describod in Ihe rtFevant sections of this report. Olh•T information The other information comprlses the informallon in¢￿￿e*S in th? 8nnual repor( indudlng the gowemor's report, other thw the financral ststemepts and our audttorfs report thareon. The tW8tees arè responsible for the other klformalion. Our oplnin on the finandal slatemeTrts d￿$ not cover the other ir%formailon and, except to the extent otherwise explicitly slated in our rek¥)rt, we do not express any foTm of assurance conduson thereon. In connection wth our audtt of the finanaal Statements. our msponsibdity is to read other informalion and. In dryng so, conslder wlther the other infomTr8ts"on 15 moteiFally inwnsistenl with the finanual statements (¥ our kn(}￿edg6 obtsinod in Ihe audit or otheThvise appoars to b8 rnaterialty misstatsd. If we *Jentify suth materi81 incon$Sstgnc498 or apparent materi81 fflisstatemonts. wa are requirèd to datwmirfft whother t￿re a material misststemenl in ihe financial stalemonls or a material misstalenwnl of the other infomatlon. If, based on the work we have performed. wfr ¢￿dUde Ihat there is a Ma￿rial misstatem8AI of t)thor infom)ation. wa are roqulrod lo report that fac¢. We havo notryng k) Trport In INS ragarf. Oplnlgn8 on other mattern pr•scrfb•d tythe Cump•ni0s Art 2006 In our opinion. based on the work undertaken in the course of lh¥ 8udltr th¢ information gNen in the twstees. report IlncorporJting the strategic r8ps)rt and the dlrectors report) for Ihe fin8ncial year forwN¢h thollnanriat staiemonls are prepared is consistent with the financial ststements., and the 8tr¥leolc roptsrt and tha dtraetors, rgport in¢luded within th• tru$tse$' report havo bo80 prgparsd in accordance ￿ appluE48 leg91 roquir6m•nts. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF FARNEY EDUCATIONAL TRUST Matters on whlth *• arn requlrod to by •xceptlon In Iho Ight of our know￿9& and Lbnderstanding of the choritsNe comp8ny and its environment cthln9d in the ¢our3& of th8 audiL we hav• not kIwttif￿d matsrial rnisststemants In the $trategt¢ reF*)rt and Ihe dlrectors. r6wL We have nothlng to roPI)rt respgct rfthe foH¢ywlTrg m8tteTS in rel8tion to the Companl8sAct 21Th reWTes us to report to you rf. in our opinion- adequate accounung records haye not been keo, or retums adequat¢ for our awjil hav8 beèn r￿06ve￿ from branchos not vtshed by u$" or th& financial $tatsm8nts are not in agreemont with the a¢￿Unting reo)rds 8nL1 r8ium8: or rtsin disdosures of directOTS' remuneration spoThr￿ by law aro not made. or we have not recefved all the infomiatlon and explanatk¥ns we requlre: or the ijirectors were not enimed lo prepare the Ilnanci81 ststsments in accord8nc• with the small compantes, regime and tsk& aflvantage of tè)e small companles. exempUon$ In prtsparfng the govemors. rep)rt and Irom the reouiremenl lo prepare a strategic rwrt RMponsibilftl•$ of Trustses As eyplained more frjlty in the tw8tees' responsibilities slatemenl. the trustees (who are also th8 diractOTS of tha tharitable c￿mPanY IOT tho purptsses of company law) are responsible for the preparation of the financiBI stalements ènd for be¢ng sattsfied that they give a true and fair wew, and for $uch intern31 c4Jntrol as the trustees d&lèm)iftè is ne¢e$sary to enable tho preparation of financial stslements that are free from material mBslatemwL whether due lo traud or 8rror. In preparing the financial Statern￿ts. tho trvslees are re$Fonslble for asse$slng the charitable company% ability to continue as 8 going concern. dis¢bsiftg. as 8ppli¢able, matters relatsd to gdng ￿nc¢M and uslng the going con¢em basis of accounting unless the trvslees either irrtend to I￿{lI￿ale Ihe chadlable IK¢ry)any or to QPoralth$ or have no I￿￿L￿tiC altomatlv• lo do so. Audltorfs r•typonslbllltlg8 forth• audit of th• flnan¢l•l $tatffi)gTrts Our obl￿11veS are to obtain re880n8L48 assuTan¢e 8boul sthethor thg flnancial stal•mgnts as a wh(Ae are free frryn meterial mi55t81emenl, whether due to froud or error, and to Issue an audilorfs report that Sncludes our opÉnion. Re￿On&ble assurance is 8 hpJh level OF 88sur8nce, birt is not a guarant•8 th91 an audit condurtgd In 8co)rdanc8 byith ISAS {UKI will apways deteGI a matar5al misslalemqnl when it exists. MIs5tstements tan ariso from fraud or error and are consh8ered rn8terial if. indivtdu8lly or tn aggrggate, they cothd reasonabty expected to inftuenc¢ the eeonomic decisions of users laken on Ihe basÉs of these fin#n¢ial st8laments. A lurther description of our responsibilities is available on th8 Financial Reporting Cothcifs website 8t.. http8Jl w¥wY.frc.org.uklaudib2rsfpEponsibaities. Trs description trJrn￿ part of our auditorfs report. Iwularttiè$. induding fraurl. arè instances of non-compliartce wth laws and ￿g￿¥tIOns. The extent lo which our procedures are capable of dete￿Ing Irreg￿nI¢s. indudirg Iraud. Is dÈtsiled Wow. Ext•nt to whlch lh• authl was conJld•r•d capabl• of d•t•ctlng In•gularfU•s. Includlng fraud The objectlves ol ouraudit. to fraud, are". t¢¥ identify and assess th8 dsks of material n￿$Statem￿nt of ihe financlal slatemenls duo to fraud,. to Obta￿ sufficO&nt appropdalg audlt eviden¢* règardlng th• assessed risks of matedal mlsstaternent du• to fraud. thr￿ de$l9nlng and llnpJ9menUro 8ppropTlal8 responses., to respond appropfiats5y to frau(J or suspected fraud IL1¥ntified durtng tho audit. How6¥er. the pt1mary reSpOn￿bIlIty for the prev8ntion and delè¢b'on of fraud rests wth both thos6 charged with goveman¢ts of the entity and its manag8menL 10. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TOTHE MEMBERS OF FARNEYEDUCATIONAL TRUST [￿r aFvoa¢h was as folth.. . We idènltfied areas of Ws and r8gulalb)ns Ihat coukl reasonabty be •xpocted lo ha￿ a rnaterlal effect on Ihg financial slatemwts from our gener* Secior 8xperienc9, and through discussion wilh tho Iwslees and other monagement las required by aLtditing stsNJard81, and disujssed wllh the tnjsleas and other managemont th¢ rKdi¢les and prccedures fegarnling compltance th law$ and reg￿at¥)n5 Iseo l)elowl,' We iden￿fi$d the [￿k￿Ang a(￿$ as thost most Ilkely to have an effeci.. heatth and safety; General Data Prote¢t(on Regulatlgn {GDPRI,' fraud" bribery an(J corruplkn. sch￿1 Inspectlons, DBS chgcks. and employment bw. Audlting standard$ Ilmlt the ¥equired audit ￿￿edureS to rdentify noTrcompll8nce wlth th8se laws and regulations to 8nqulry of ihe trustees and olher management and nispe¢tSon of regulatory and legal cortespondence. rf 8ny. The IdentFIk￿ actual or suspeded non-compllanc8 was not sulTici&nlty signlllcant to our audlt tD re8uIt our response being identified as a key audit matter. We considered the legal and regvlal¢)ry framewoths dirgdly apiAicable to the financial statemerts r8POrting framework IFRS 102, the Qmpanies Act 2006 and the Charitips kt 20111 and the relev8nl tsx comph.ance regulations in the UK. - We constd8r8d naiuie of thg ¢haritAbie c(Jmpany'$ oporatson4 the CL￿trOl environment and financial perfonnance. We commun￿led identified taws and regulations thmugw our te8m al￿ remainetl alert to any ￿nd￿tiOnS of nonvwmpli3ru throu9hDui the audit. We considered the prcudures aftd c4)ntrols that th6 ch8rit*Jle company has estsblished lo address rf$k$ id¢ntified, or thal 0¢￿[W1se prevenL deler and detect fraud.. and how senior man8gement n￿nitorS those programmes and Ca￿trOl$. Based on this understsnding we desig1￿d c¥Jr audlt procedures to identity n0rpcornp1￿netr wth suth laws 8n(J r9gul8t6ons. Where the risk was considered to be higher. we peTfOrm￿ audit prDcedures to address each Idenlffted fraud risk. These pro¢edure5 induded.. tsstlng manua5 loumals. ￿vIeWIng the flnan¢ial stalem&T)t disclosures and tests'ng lo sijpporti'ng docum•n*allon'. perfombing analW"c31 pro¢edur8s'. and enquiring of management, and were designBd to prowde Teasonatrlg assurance that thg financial 8talem•nts wem free from fraud or error. Ovdng lo tha inhèrent limitatu)n8 of an 8udst, th8T8 is an Unavoidab￿ risk that we MAY ftot have detected some matorial misstslem6nts in tho finan(i81 statements, even though we hBvo pr￿ortY planned and p8rfom)gd our audit in accordancè with auditlng stsndards. For 8xaMp￿, the lurther removed non-compliance with laws aml fegulations (irregularities) is from the events and transa¢tions reflected in the fin￿¢la1 statements. the kss likèly the inherenty limiied pro￿dUreS fequired by 8uditing standards would Identify tt. The risk is also greoter wardirg irTe9ularitigs OCCUTfing due to fraud Tath8r than error. as fra￿d invofves inlenlitinal cnncealmenl. forgery, ￿l￿￿On. OMIS￿¢)n of misr¢pr¢sentstion. We afe not re8wJn8ible lor p￿VentIng noTrCOm￿Kan&* and cannot be expected to dgteLI non- mkSi8nce with alllows regulations. Us? of oui roport This report Is made solely to the f*aT118b￿ companys membets, 35 a body. in acD)nJance with Chapter 3 of Part 16 of the Companles Act 2(K6. Our aud￿ WO￿ hJ8 been urKlertaken so tttat we might stste to thè charftsble company's members thc>se matters we afv rpquired to state to Ilwn in an auditors, report and for the no 0th8r pury)ose. To the ftd1881 gxtent Permitted by law. w8 do not accèpt or #ssume responsibility to anyone other than the charrtabb compally ar￿ the chorikblg COn￿an￿S membar¥. a8 a bC￿y, for our audit work, or for opinions we have forrned. Mr ma￿ Cummins FCCA IS•nlor StalutoryAudltor for and on b•haif ol TC Group 8tstutory Audllw The Coutyar Shoroham Road Upper 86éding Steyning Wo£t S￿￿eX 8N44 3TN 11 FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2015 Unrnslrfcl￿ Rvtrf¢t funds funds 2025 2025 Total Unrn8trlcted R•8lrf¢t¢d funds fvnds 2024 2024 T+)lal 2025 2024 In¢orne and endowmgnts from: t)onallons and legacies Charitable activibes Investrnents Other inccrfn8 3,694 97,570 S,750.784 67.404 112 2,5 5.1)J5,973 51.852 136 24,861 27,411 55.376 S,061.349 51,852 136 5.653,214 67,404 112 Tc141 6.724,424 97,570 5,821.994 5,060.511 80.237 5,140,748 Expenollure on: Charitable activ¢Eles Other expenditurg 4,857219 39.817 4,897.036 4.592.444 4,574 24.754 4,617,198 4,574 11 Totsl r•*otsrc•s •xp••xled 4.857.219 39.817 4,897,03e 4.597,018 24,7￿ 4,621,772 Incgmlng r•*oureo• b•for• traft•f•r* 867.205 57.753 924,958 463.493 55,483 518.976 GrDS5 transfefs bthoon funds 21 2.835 12,835} 22.861 (22,8611 Not incorng ft>r the yearl N•t movoment In 870.040 S4,918 924,958 486,354 32.622 518,976 RecorKlll*lon of fvnd8: Fund balanc8s ai 1 September 2024 6,215,566 85,557 6.301.1fd 6,729.212 52.935 5,782.147 Fvnd balances at 31 August 2025 7.085.608 140,475 7226.Ce1 6,215.566 85,557 6,301.123 The statement of financial actNities indudes 411 gairvs and IossBs reExJgnised in Ibe yèar. All incom8 and expenditure derive frorn continubng &tkvibes. Thg all¢cation ofths ¢omparative figurgrs bgtrthn fijnds Is explalned In Ihe notes lo these ac£ounts. Tho statsmgnl of fin￿la1 ￿1VIll&S also ¢omplias wilh roquifemgrrts for an ineoma and gxpgn(lilure account under th& CompaniesAet 2(N)6. The notes on pag•s 15 10 30 fonn part ofth¥se finandal statsmonts. 12. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED BALANCE SHEET ASAT3f AUGUST2025 2025 2024 Notes Flxed assets Tangible assets 14 4,819,666 4,389,146 Current 8s9•ts Debtors Investments Cash at bank and In hand 17 16 611,696 1.490,716 1.300,000 913,547 3,932,289 4,$43,98S 3,704,263 Cr•dMors: amounts falllng du8 wlthln ong y9ar {2,090,596) (1,765.439) Not current asyets 2,453.389 1,938.824 Total assets188$ ¢urront Ilabllltles 7,273,055 8,327,970 Credltorn: amounts falllng duo aftèr more than one year 148,9741 126,847} Net assets 7,226.081 6,301.123 The fund8 ofthe charlty Restricted income funds unres1￿Cted funds- Strateglc development fund General fijnds 21 22 140,475 85,557 1,250,000 5,835,606 6,215,566 7.085,606 e,215,586 7,226.081 8.301,123 The note¥ on pages 15 to 30 fDm part of thes8 finanual statements. The financtal statements were epproved by the Trustees on 7 May 2026 A J Smith Trustee Company registrats'on number 00543113 (England and I￿10$) 13- FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDEI) 31 AUGUST 2025 2025 2D24 Cash l¥MI op•ratlng a¢tlvllloS Cash generatsd froml{absorb9d by> operalions 2,463,719 (359.4291 In￿StIng acti¥ltle$ Purchase of tangible fix￿1 a88ets Pror*eds from dbposal of tallglble flxed assets (Purch8seYSab of ujrreni 8$set ￿￿eStimAt$ 15 Intsre5t received 14 (812,3811 1362.067> 300 11,3(Kl,000) 51,852 1.300.000 67,404 I4￿ ￿5h generat•d froml{us8d In) Inyestlng acllvitles 555,023 (1,609,915> Inc￿a￿l£dO¢leasg) Sn ¢a¥h and tash equl¥atortts 3.018.742 (1,969.3441 Cash and t>sh equivd9nts al beginnlng of year 913.547 2,882,891 Cash and u•h e4ulv•l?Trts at of y•ar 3,932.289 913,547 Thè notes on pages 15 to 30 form partofth8se finan￿41 statements. Th6 ch￿ty had no d•bt durlng year 14. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED STATEMENT OF CASH FLOWS (CONTINUED FOR THE YEAR ENDED 31 AUGUST2025 Crfti￿l •c¢ounllng estlmates judgoments In th8 appli¢at*)n of charity's a¢¢ounling polic4os. Ihe Govemcfs aro rfjqui￿d to judg8ments. 8stima18S 8nd a&8umplbns abtyJt th& ca￿ing amount ol assets and liabllitl88 that ar8 not rèadily appafant Irom txhef 8ourc•s. estimat4s and as$ocioled assumpbons are b88ed on hr6torical e¥pgrlenco and other la¢tr)rs that ara ¢on8idèred to b¢ I9￿ant. Actual results may dffFer from Ihesg gSt¢males. The estlmates and undedying *s$umptions are revithyed on an ongoing basis. RevI￿On9 to ¥ceounting •stimales affj recognÉ58d in the period in which the estimate 1$ rewsed where ttle rovision affects only that per#)d. or in the period ol tho revision and future perfods W￿re the re¥l￿on affects iK>th ¢urrent aNJ lulure pefiods. Aceounting policl Chartty Infomthn Famey Educ4ibnel Trust 1$ 8 prfv8te ts)mpÈny limlte¢l by gUaraTr￿ inwrated in England W*s. The Te9lStored offic& is BoEney CoutL Crossways. 8olney, Ha￿ardS He8th, West Sussex. RH17 5RD. 11 Accountlng eonwntlon The )Snancial statements have baon PTepared in aceothnce with tha charitys articlB8. the Companies kt 2006 and th8 Charities Act 2011 and "Accounting and Reporting by Charities.. SlatemeTTrl of Rg¢ommended Prat*ice applicable to ¢haTities prepartng th•ir accounts In accordanc* with Ihg Fjnaftci￿ Reporting Sta￿ord applicabtg tn the UK and Republ￿ of 1relaf￿ (FRS 102r i8SU8d in October 2019. Tho charlty is a Putlic 88nèfil Enlily a$ d8fingd by FRS 102. The financlal slatoments are proparBd in steding. which is the knnctional Ixffency of Ihe charity. Mongtsry amounts in these finandal statements aTe rounded to the nearest £1. The fin8nclal stebmonts have t)eon prepar8d undgrthe hL*ortsl o)st conventlon. 2.2 Golng ¢oncem At the time of appTovirwJ thè fin#nrAal slatemtynts, the Go¥emors havg a reasonats￿ expectalic>n that the challty has adaquale résources to continue in operath)r*l exislèncè for th8 foreseeable fvIu￿. Thus the Governors £ontynuo to adopt the going con¢em basi5 of accountlng in sKeparing th8 ffinan¢￿ statsm8nts. 2.3 Charltablg fvnds Unrestricted funds are 8V8ilable for use at Ihe discretion of the GOvemc￿S in furthwan¢e of their charitable rth'eciives. RestrlrA8d funds are subject to spodnc ¢ondltions by donThs or grantors as to how they may be used. The purposos and u58s of the re$tri¢ted funds are set In the notes to financial statements. 14 In¢omlng ro*ourco8 IrKome rgcognised when Ihe ¢hty is legally enti119d to it after any performance condillons IHve bgen mel. Ihg arnounts can be mgosured r8llaLly. and It is probable thBt Income will be received. S¢hth)I fèes arg rgcogntsed ovor th• 0¢odemi¢ year to whlch thg foes apply, on a lemi by temi ba￿8. Cash ¢Jonatlt)n$ are rec¥)ynlsed on rece4pL Other don8tton$ are rer￿nisert once the chaTIty h89 boen notified of lh& donatlon, unless perforn￿n¢¥ condlJon5 requlrg do1orr81 of Ihe amount. Incomtr lax r6cover8ble In f¢latlon to donallon8 re(alved urKJer GffthJ'd or deeds of oovenant is reojgnlsed at the Ilmo of tha ¢JoKaVon. 15. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 A¢¢ountSng pglkies Iconllnuedl Oonated facili118s and donated professional Ser￿e$ are recognised in Income al Ihelr falr value when thelr economlc benefft is w£lJable. rt can be measured reliabty and the tharity ha5 cx)ntrol over ihe ilgm. Fair value ts dotermined on th$ b&5ks of the valua of the gift to the charity. F(K oxamp]8 th8 amount the ch8rlty would be 55111ing lo pay in ts open markst frx 8uth fac￿411•$ and s8rvices. A corrgsponding amolurt Is rg¢>Jgni88d In oxpenditurg. Ing)m& Is 8tèteLI exduswe of VAT applicab￿. 2.5 Resource8 exp•nded Expendknre is recoyFtsed or￿* ther& Is a lèg81 or constvuclive obligation to tr8nsfer economic benefit to a third party, It is probab￿ that a transfer of er￿noMiC benefits will be required Ix setllernent. and the amount of the oblvJatk)n can be mtrasure¢J reliably. Expendbture is dassikn by ath"vtty. The c•)sts Df each &tivity are mad8 up ol the totsl of direct costs and Shared ujsts. i1￿￿th￿g support Costs involvBd in I￿￿1￿rtaking each ¥tMty. Direct costs attribulablè lo a 8ingle activity are alkirAted direcuy to that activity. Shared cosls whith contributs to r[￿r8 Ihan one actw*ty and support costs which are not aitiibutabl8 to a singie activity a￿ 8pporlione FOR THE YEAR ENDED 31 AUGUST2025 Accounllng polkle> (Ct)ntlnuodl 2.11 R•tlr•mont bon•ffts Retirem¢nt bengflts to emF4tyees of trte school arg provlded by the Teathers. Pénston Schéme ITPS'I and a frjrther doflne¢J contribution s¢hemb for non leachiry Staff. Thg t*a¢her5' wsion schome 1$ a defined benoflt sch•ma 8T￿ the ¥ss•ts of both aro held s¢paratety from those of the school. Th8 TPS 1$ an lIn￿nded scheme and conlrltAJlions are calculalod so as to spread th8 &)st of p8nslDns over employees, working lives with the school in such a way th81 ￿nsIon cost is a subst8ntially level p&rcentaga of cunpnl and future pensionable payroll. The contribLthns are detsllnined by the Govemm&nt Actuary on the basis of quinquennvdl valuab"on5 using a Prospective benefft methad. sla18d in Note 26, the TPS is a mult￿emPloyer schem8 and the school is unablg to identify its share of the urKJerfwng a85ets and liabilities of Ihe s(**me on a ¢(￿S1$tent and reasonable basis. Thè TPS is therèforo trfrated as a deffn contribution scheme and the contributions are recognised as th8y are paid eath year. The sch)ol also operdtes 8 defined cu￿1b￿ti0n s(*en* in resped of the ¢are and administration staff. whlch is an 8Uto*nrolment Scherne. The contsibubons 8re from the employers and employees contribulions anil the assets are held extemally to the CA)mpan The school also has an uthnded defined benefit ￿nstrUCtIve obligath)n tt) provide ￿nefit arrangements for 8 frymer member of staff whereby the school has committed to rnalte pension payments and healthcare provt5ion in th• futUTe. 2.12 Taxallon Tho tharity 1$ an gxelnpt charity %Mthin the meaning of s¢hgdule 3 of the Charities Act 2011 aThl is considered to pass the tests set out In Poragraph 1 Sthedulg 6 Finance Act 2010 and th8reforè ri m8&ts thg d•finition of a chartsblo company for UK o)rp)ralktin tax purposes. From l Janvary 2025, VAT was Introduced on prfvats 6¢hool 1998 and thg school ro91818r&d lor VAT. Output VAT is Chary￿￿ on schDoI fee incorng, and input VAT on expgndlturg Is T￿lY ￿e0verable, A pr®L8traUon VAT dalm was submrttfjd durtn9 the wr. Prts to th18 dete, 8th￿1 fee8 woreVAT-oxempl, the ¢hailty could nrA re￿￿¢1, ond •ll costs were $htyvn gr as Ihe Input VAT In¢urfed was Irrecover8t48. In¢offte from dorbAtlon• lfftd legoeh• Unrnstiicted R•strlet*d funds lunds 2025 2025 Totsl UnT•Btrtct•d Rèslricted funds funds 2024 2024 Tatsl 202S 2024 Oonallons and gifts 3,694 2.550 24,861 27.411 18- FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 Charitable actl¥llles 2025 2024 School fv85 wllhin dwrit8ble octlvMo8 Pupll Premlum Othor Income 5,644.713 97.570 8.501 5.005,973 55.376 5,750,784 5,061,349 AnalysÉ5 by fiÈnd Unrestricled funds Re8￿cted funds 5.653,214 97,570 5,750.784 For th$ y•ar tr￿ed 31 August 2024 Unrestn"cte¢J furtd5 Restrlcted lunds 5.005,973 55.376 5.061,349 Inv•¥tM•nts Unr••trl¢t•d Unr••trktod lund4 fund• 2025 lrtwest receivabte 67,404 51.852 Oth•r In¢om• UnM8trlctsd Unr•8trl¢tod fund8 fund• 2024 Ml8¢¢llaneous Incom& 112 136 19- FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Charitable actlviti68 2D25 2024 Stsff cos15 Establishmw School exp8n$8s 53,875 917,136 3,091,406 14.252 890.752 2,878.698 4,062.417 3,783.702 Shar8 of suprKfyrt costs {seg note 10) Share of 9DverrIan￿ o)sts {s¢e note 10} 767.445 67.174 765,277 68,219 4.897.036 4,817,198 Analy519 by Unreslllcl8d funds Reslrict8d fvnd$ 4,857219 39,817 4.897,036 For th• y•ar ¢nd•d 31 AuguBt 2024 Unreslrirted funds Rests5oled funds 4,5Y1444 24,754 4,617,198 Nèt movemèn* In fvnd# 2025 The net movernent In funds Is ststed after charglnlllltyed5thv}.' F&9s payable lor thg audit of the Charit￿s financial staleff*nts Dewecialion of Dwned langib￿fiXed assets Loss on disrx)sal ottsngible fixed ass6ts 14.750 234.240 19,860 179,620 4.574 Gov•morn Durtng tho yo4r Iwo Iwst¢•s dalmod £2,135 (2024.. kn InA%i8e5 £5.255) Of￿￿n¥￿ ￿ch rdato to lTrlnlng. tr•vèl costs Irustee m•ollngS. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 10 sypport costs Support Gov•man ¢08ts 2025 DeP￿laI￿on Sal8rifjs staff training Sundry Telephong Offic8 costs Motor e￿nSeS Computer expenses Paymll Professional fees B8nk cl)arges Audit fees A(Kountancy Legal and professional 234,240 405.695 1.700 4,436 7.615 11.335 15.822 43,634 3.242 38,311 1,165 234.240 405.695 1.7Crf) 7.195 7,615 11,335 15.822 43.834 3.242 38,311 1.165 14.750 25.230 24,685 179,620 445,924 9,590 10,4£6 16,844 14,803 18,783 50,360 4,707 18,635 1,211 19,860 18,170 24,523 2,759 14,750 25.230 24.685 767,195 67,424 834,619 833.496 Audiloes remurwation in relellon to autlil sor¥i(w was £14,75) (2024- £15,600 In¢￿￿1r￿ VAT) ex￿dIn9 VAT. 11 othor frxpendllu funds 2025 lunds Nel loss on disptwl ol tangiL4e fixed awl 4,574 21 FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGusf2025 12 Emplo￿•￿ Number ol ?mployeeB The average monthly numbwofempbyees durtng the yearwas: 2025 Numb•r Number Stho E3tsb118hmtnt Administration 63 12 58 12 83 78 Employment Costs 21)25 Wages and salaries Social security costs Othw pension costs Benafits In knnd- heallhcare Change bn pro￿1 vabjg for obfigatbn 2.901.813 319.597 318.424 19.878 7.198 2,683,73e 263.909 268.422 18,625 114.9071 3,566.910 3219,785 The numbor of amployges who8• annual fernuneratlon was £60.C#)O or more 2025 Numb•r 2024 Numb•r £60,IJOO-£69.999 £70.000- £79,999 £90.000- £99,999 £100.000- £109,999 The total amployer ￿nsion contrlbutions paid in Tespgcl of theBe employeos was £50.02112024- £42,197). The k8y managemènt p&rsonnel of thg ¢hartty c4Jmprts6 th& Govemors and lh& sensor management team, vthich comprisèd 4 foles12024- 4 rolè$l", thè PrirKipal. Vice-Prinupal. H8ad ol E¢Ju¢*ion and Head of Ca￿. The lotsl amcwnl of empk)yee benofrts16nduding emrAoyBr Nl and pensioft contributions) recwvgd by kgy managwnent pèr8onneJ for thgbr seThtiCe5 lo thg knjst was £397.379 (2024- £357.452). 13 Taxallon The tharÉty is exemptfrom tsxallon ort Its athiues because all incorng Is applied fur Gharttablo PUlPOSeS. -22. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 14 TaftgllAe fixod FY••holth Planl and Flxlur•• aThJ bjlldlngs •qulpmw Totsl Tnhlcl• At 1 Seplernb8r 2024 Additlons VAT odlustments 6,597,091 574.105 198,616) 216.842 41.080 16.489) 376.801 115.981 136.366} 56,077 7.246.811 81,215 812.381 16.1501 1147,6211 At 31 August 2025 7.072,580 251.433 456.416 131.142 7.911.571 D•preclafjon and impalrnwit At I September 2024 DeprociBtion chargèd in year 2,454.082 200.683 124,446 12.580 172.681 82.769 30219 2.857.66S 14.445 234.240 At 31 Au9USt 2025 2,578.528 213.263 25&450 44.e64 3.091,905 Carrylng amount At 31 August 2025 4.494.052 38,170 200,966 86,478 4,819,666 At 31 Au9usI 2024 4.143.009 16.159 204.120 25.858 4,389,146 15 Flnanclal Inslrum•nts 2025 2024 Carylng aiiK*Unt of Ilnanclal assots Instnjments me88ured at falr v4u8 through profft or loss 1,300,000 16 Cufr•nt asset IllW8tm•nts 2025 2024 Short term deposts 1.3CQ.110 17 Debtors 2025 Amounts lallin9 du• Twlthln on• y•4r. Sthr)ol fe88 re¢dvable dgbtors Prgpaymotts and accrued inrxJm8 586,S60 $40 24,598 1A16.955 44.272 29,489 611,896 1A90.71e FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Crtditors: amownts 14llng dye withln one yoar 2025 2024 Other taxation aThJ socaal S9￿rIty Fees in advancg (see note 201 TradB cr8diloT6 Other eredltors Acwls and datsrred income 245,606 1,647.095 88.119 82,308 29,468 1.613.411 78,187 50,69) 23.151 2,090,596 1.765,439 19 Creditor8: amourts Mlng due after more th•n one >w 2025 2024 Future fiabilities in respe¢l of fonner staff obllgalityts (see 271 4&974 26.847 F••• In a(fvanc• Feès In a¢fvance retat8 fv Ihg sch(KA fees involced In respgct of the AubJmn tsmi, but which are onty on the start ol the nexi acadsmic year frDm 1 Septgmber. and reprpsgnt income forthe followiro aulumn lom". 2025 Fees In advance at 1 Septemb&r 2024 Recognised as income in 202￿25 year Fees invoicBd prfor lo 31 August 2025. 8nd carried fonvard to 202&26. 1,613,411 1.315.503 11,613,411) (1,315,503} 1,647.095 1,613,411 Fees in advance 8t 31 AryJust 2025 1,647,095 1.613.411 .24- FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 21 R•strlct•d fvnds Tho rosEricted funds of the charity c(rfnpri8e the unexpgndgd balances of don8tions aNI grdnls held on tru$t subj&ct to Spo¢rf￿ condibons by dcvwrs &$ lo how they may b6 used. At1 In¢omlng R•sOur￿¥ •xp•nd•d Tran•f•vs At 31 August 2025 2024 Pupil Premium VoGqbonal building & quipment Medla suit Educatton and chlldcare Fair Fax & IAorTisons Vaconation funding Teachern Ptsn5ion 70.731 91.302 133.549) 12,8351 125,649 10,453 105 lQ,453 105 200 1200) 3,228 1,040 1,040 (6,0681 85.557 9T,570 (39.8171 12,835} 140,475 Prnvious year. Ati Soptemb•r 2023 In￿rnIng R•sour¢oS r•$ourc•g axpfynd•d T￿nSfer$ At 31 August 2024 Pupil Premium Vocational bullLllng & equlpmenl Media suite Fair Fax & Monisons Va￿natiOn funding Outdoor c[8S5rc￿M 40.109 55,376 (24.7541 70,731 8,453 105 3,228 2,000 10,453 105 3.228 22.861 (22,861) 52,935 80.237 (24,7541 (22.8611 85,557 The rgslricted fund5 I￿*￿Ie PurAI Promiuffi monles ppwlded for enrithrn￿t by local authortties. Tran5fws from the restiicted related to expendrturB that has bggn capltsllsed to refled Iho restrlcllon ded once Ihe Wants wwe pa￿. .25. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 21 hstrictod fvndB (Contlnu•d) othfjr grants incbjded as Wo(ational build¥w ond equipThonf. Wedla suit8.. and 'Fa%T Fax aThJ Morrisons. repr05ented grants to support Ihg pur(*ase of equipment In suppx)rt of studenys leaFThrrfJ and onrfthmgnt th• ara8s Ilsied above. Vacdnatlon fundin9 was a spor#ft¢ granL The grnnts Teceivod in respect of provbjing an outhor classroom have been us&J to fund outdoor equlpfflent vthich has boen capitalised. As such there Is 8 transfer to dose the restiicted fvjnd. The Te8cher3 Pension ￿fte¢￿e￿ the grant paid to coniribu* to Urn59d teachers per6ion cothlyjtions. Educalion 8nd Child￿e r¥fxived to help c4)ver tho Cost of travd 8nd loacher cover regor(ling eou m￿£ted. Unrestrletsd funds The unrestricted funds oflhe ch8r¢ty comprise ihe uneKpentkd fLtnd balatt￿, which are not subiect to specific condthons by donfNs ar¥J grdnlors as trj FThv they may ba LLWJ. These indLth desKJn*ed funds whith have bean sel aside Out of ￿[eSt￿Ct9d fund5 by the InJslees speufic purposes. At1 Incomlng R•sourc8s S¢pt•mb•r Yesour¢•$ •xpgndod 2024 Transtsrs At 31 August 2025 Strat8gic ￿￿￿k￿ment Imd General fund8 1.250,000 (4,857,219) {1.247,1661 1250,OCKJ 5.835,606 6.215.566 5,724.424 6,215.S66 5,724,424 (4.851,2191 7,085.606 Pr¢vlou8 y•ar. A11 S•ptèmb•r 2023 Incomlng Rosourcos r•8OUTCO9 expend TraTrsf•rs Al 31 Augusl 2024 General fvnds 5.729,212 5.060.511 (4,597,018) 22,861 6,215,56 Deslgnatsd fiJnd8 - A slralegk devo1¢)pment plan to provldo addljonal faclltlhs to svpport ihe txre and eflucatlon of young K*opI•. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 23 Analysls of nol assots bel*wn funds Vnr•strl¢ted R•strlGtsd fvnd$ funds 2025 2025 T￿al 2025 Fund balanc•s at 31 Augu$t 2025 ar• r￿￿sent•d by: Tangiblg assets Curr8r*l assets Long term Ilabilitie8 4,819,666 2.312,914 146,974) 4.819.6fj6 2.453.389 {4Q9741 140,475 7,085,606 140,475 7,226.081 funds 2024 funth 2024 Fund b•l•n¢es at 31 Augujt 2024 are rwes•nt•d by: TangSble a￿ts Curr8nl assets Long lemi liabiliti9$ 4.389.146 1,853,267 {26.8471 4,389,146 1.938.824 126,8471 85,557 8.215,568 85.557 6,301,123 24 fApltal COMn￿lm•ftt• At thè reportlng dale, tM Chartty had r￿ntractual oynm1trn￿ts amountkng to £13&116 relatlng to piann•J lake dredging work8 (2024.. £Nill- Al Ihe rèportiry érKI dats thè (*arity had outstsndlng cnrr4nltments for fvthjre mlnimum knse payff*nt8 under nrm4•n¢ellablè opgrnllng leases. whith fall due as folh)ws: 202S 2024 Within on? year Bthyaén and fN8 ￿aT$ 888 1,776 2,664 9.672 -27- FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 26 R￿￿tsd party tr•nsa¢llon$ Tran￿¢tIOnS wfth rnlaled parties t￿rtTr0 the ￿eT tre charlty èntered into thefolkiwing transaclbns wilh rdatsd partks: Remun•rallon totslling £225,72412024- £149.676) vr45 pakl to sèven12024- flvel relat•d parti&s cfjnTr8cl8d a6 dose famity Mom￿rg to gllher TnAé•s or Senior Managam9nl P$rsonn81 at any polnt dufkng Ihe y8ar. All werg employed at the Schod on standard empWJYTheniteM￿. 27 P•n•lon costs Penslon arrangements The sdwl port1&'patss in the Toach8rs' Pen￿n Scheme Enty8Th1 and W819s (TPS) for aCadern￿ and ￿lated Th8 TPS is a rlefir*&beftefft stheme. The pens*)n costs are as8essed in ￿)rdance the adviGe of an ￿￿epend￿tt quaW acluary. The latesl acluarial v01uation of ts TPS fthted lo the period endod 31 Marth 2020. The pensjon ¢DSt cknarge fvr year ended 31 August 2025 was £244.$77 {2024.. £2Q7,714). Contribulions aMOUntir￿ to £48.92212024.. £22,089) ware paYa￿e lo th8 schème at Ihe year end. Tha $¢hool atso opgraled a defin&Y ¢onblbution schème from J(ly 2014. to meet the requir¢m&nts of auto gnrolmenl. The assets of this sth8me are held sepa￿le1Y Iwm thosè of the ￿rnpanY in an independently inlstergd fund. The penslon cost tharge for the year enil•d 31 August 2025 wa$ £50,227I2￿24. £45,429). An anount of £9,78512024'. £621 was due lo thls s¢h&me at the ye8r end. The school has an Un￿nded conslru¢llve obligaiion to provKle a defined benefft arrydngement for ¢)ne fom)er member of s18ff whereby thg has committed lo provide beneffts. Thts proviS￿n is recognlsed using discounted cash Ilow methods. to wovide a present Value lor lh¢ fuluro benefits payab* by ￿ company. the c(xnmitment in resFeCt of one fomwen7ploye8 C8&8es in fv ￿xi financaal year. The koy financial e51imates and assumptions ara that the ben•frts VAI conlinue until the f(￿r $mployee reaches the age of 89, I￿r￿$S at 2.75% par annum, and to reffect fair value. arfr discounlwl at 2.7°h pgr annbjm. The tolal gbligalion at the year end was £53.645 <2024.. £36,1831 £6,672 13 due within *)re year and the balance of£46.974 in MO￿ than C￿e year. Teachers. Pen51on Sclnme T8achers' Pe￿)n Schgme (Trs) 15 a statutory. w￿1bUt0ry, d*fir￿ b8nefit scheme. govemed by the Teathers, P8nspJn Regulatlons 2014. meMbe￿￿'p i¥ aul(¥natic for t88ch8rs academy trusts. Al teacheT5 have thg option to opt ofth• TPS followirrfj anrc4menL -28- FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 27 Pemlon ¢ty3ts IC¢>nt5mi•dl The TPS Is an unfvnded scheme to vknich Èoth the member and ¢mployor makes contrlbullons, as a percertsge of saLiry. Theso (xJntii￿.Ons ar8 credrted to the Extyu8r. Rotir¥m8nt and other pgnslon nefiis ar8 pald by public fur¥Js wovided by PaFlian*nt. Valuatl¢n of the T•xhoY8' Pgnslcffi Sch•m• The Govemn*nt Actuary. using nonxol a¢tuari81 princip19s, conduds a fomial actuarial r8vi6w of the TPS In awordance wilh the Public Sorvice Pen510ns (VabJa￿0ns and EmF4oyer Cost Capl Direction$ 2014 pU￿1shed by HM Treasury every 4 years, aim of IhB review is to speofy the Jevel of 1vlu￿ conlribulions. Actuarial s¢heme valuatnns 8re dependent on assumptions about Ihe value of future ¢osts, desNJn of benefrts 8nd many other factors. The latest aGknarig1 valu8tion of TPS was c4rried out 85 at 26 October 2023, with the previous figutes as at 31 March 2016. The valu81ion report was published by the Depgrtmentfor Education on 22 Aprfl 2024. The key elemonls of tho v8lu&lion and subsequent con8ulktiDn are: - eM￿0Yer C￿tribUtion rBtas set at 28.68% (pmKxKty 23.68%) of pensionatle pay Iv)¢luding a 0.08% èmploy8f adminislralK>n Charge) - total schgme liabMili8s Ipensths c4Thn#y in payment ar￿ Iho 88Im8ted Cost offubJr* ben8fits}for service lo the eff¥ctiYe date of £262 bill￿ {weviOv￿y £218 billion), and nolional assals lèstlmated futrjre ￿nIN'bUtiOna tog8ther with the nolitsnèl Invesknonls hdd al Ihe v8lualaon datel of £2222 ￿'l￿on {prOv￿u51Y £196 billlon) giving a notional past SO￿1c& deficit of £39.8 billlon Ipygvlously £22bilionl. 4he SCAPE ratè, set by HMT. Is used to detsrnih8 Iho nollcfflal Investment refvm. The currant SCAPE ralo is 1.7W. (previously 2.4%) abova thg Tate of CPI. The employevs P8ns￿n rJ)sts paid to the TPS fft the PWh)d arrw)unted to £244.577 (2024.. £285.038) A L¥)py of the valuation reW And sup￿tIng docum8ntat¥)n is on lh8 Te8th8rs' Ponstons website. Under the definiti(ms s•1 twt In FRS 102, the TPS b on unfiJnd*J rn4J1￿mth8r ptsn81on scheme. The Trust has accwnted for Its Contributtons to thè schem& 8$ W tt were a definod contribution scheme. Tha Trust has set out abovo the infomiauon avaNable Dn the schemtr. -29. FARNEY EDUCATIONAL TRUST FORMERLY FARNEY CLOSE SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 AUGUST2025 28 Cash g•norated from operatlons 2025 2024 Sury￿￿S for the year 924.958 518,976 Adjustments for.. Investment Ino)mè rwnis8d In slatemenl of lIr￿n¢￿91 ￿11¥1￿8$ Pre registration VAT reckim on tsngible fixed assèts IGainMo$s on disposd of tsnglbl8 Ilxed assets Deprec5ation arKI impairment of tangible fixed assels 167,4041 147.621 {51,8521 4,574 179.620 234240 Movements in working f*tN'tal.' Decreaselllncreasel in debtors Increase in ¢redilor8 879,020 345.284 11,245,698) 234.951 Cash 4•n•ratwl fronLI(absotbed byl op?ratlonB 2.463.719 1359,4291