Charlty re9lStration number 307034 Cornpany reglstratlon number 00902869 (England and Wales) WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) LEGALAND ADMINISTRATIVE INFORMATION TruSt￿S JAB Bruce Bsc FCA Mrs K Hogan BA J A Passam BA MBA J H L Palrick MVO 8Sc {Chairperson from 8 Juty 20221 CSRIXMA W J Grrffiths 8Sc A-C Stromeyer-sèllèba Msc B N Selman Bcom FCA C C D Ftswler BA Mrs K E Langmead BA C A Franks Secrètary G P Fakxjner harity number 307034 Company numb•r OOW2869 Principal address Westboume House Sthoot Coath Road Shopwyke Wesl Sussex Chichester P020 2BH Reglstered olli¢¢ Westboume H￿l$e Sd)ool Coach Road Shopwyke West Su55ex Chichester P020 2BH Auditor SumerAudit Piper House 4 Dukes Court Bognor Road Chichesler West Sussex P019 8FX Bankérs National Westminster Bank P 5 East Street Chichester We51 Sussex P019 IHH Investment advlsors Rathbone Brothers Pk 8 Finsbury Circus London EC2M 7A2 WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) CONTENTS Page TnJsteé$' report Statement of Trustees. rèsponsibilities Independent auditorf5 report 7-10 Statement of financial activilies 11 Balènce shtrel 12 Statement ol cash IkNs 13 Noies io the finan¢kql 5talemenls 14-30 WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees present th&r annual report and financial stalements for the year ended 31 August 2025. The finanaal statements have been prepared in ao))rdance *7th the a(winting pol￿￿$ sel OLrt in note 1 to the financial slalements and comply with the Trusl's governing document. the Companies Act 2006 and 'Ac¢ounling and Roporting by Charities.. Slalement ol Recommended Practice ap￿icable to charities preparing their accounts in accordance with the Financial ReporttrwJ Standard ap￿1¢ab￿ in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191". OblÈctTrVè5 and actTrvities The aim ol the School is lo slimul8t8 and encourage children to maximise IheiT W)t8fblial in miryj. body and s￿"rit through a broad and varied curriculum. The School wishes lo provide thi5 quality of education for an ever ￿der range ol thildien while al same lime being a responsible efflpk>ye¥ arnl an integral member ol the local cotnrnunity. The Trustees are lully committed to operating the School in thè spirit of the Charities Act 2011 and lor Ihe public benefit in ils broadest sense. They believe the benefits ol the tharty lo the pupils of the School are clear and some of their achievements are mentioned bek>w as are the steps the Trustees are taki￿ to widen zccess to the charity's benefits by making both facilities and the prowsK)n of education itself availab￿ to greater nurnbers of children. The Truslees recognTse, however. that z b8￿nce must be struck betweerb offpTiryJ free or reduced-fee places and mainlaining suffi(llent income to sustain the financial health of the charity. This year, the School has slrenglhened ils links with local communty schooLs, mainly by sharing SFKJrts and leisure faaliknes and 15 very open to involvement in other ways. The Trustees are aE￿e to confirni that all of ihe experTrditure detailed in these accounts was used in furiherance of the Trusl's objectives. In furtheraTrcc of the Trust's c&iecb"ves. the Trustees have continued to upgrade Ihe School's fKilib"es. During the year, this programme inGlvded the instsllab.on of 8 IOOkW grOund-n￿￿nted PV solar system. the con51ruclioD of a Tensile Fabnc Pavilion with adiointng large palits and the con5truclK)n ol a large ould(x)r pl8y area lor the Pre- Prep. There were other sile enhancernenls including the laying of a new link-path be￿een the Main Buifvjing and the Orchard Area and the installation ol an inlegiated SchiK)I LLKkdown System. The Trust constantly rnonilors trends and developmènts in etjuralion and where Ihese have proved advantageous, they have been adopled. In funding itnpiovements. IÉ has a￿ayS been the Knlicy to generate SLrfhcient surpbjses ttr furKI Ihe costs ol devekwrrEnls. There has been rKJ change lo these tK)licies dumg the yegr. The Trustees have paid due regard lo guKlance iSSLFed by the Charity Cotvmission in deciding whal activities the Trust 5houkl undertake. Strategic report The descnplion under the headings "Achieverr*nts and pÈrformance" and'Financial review" me&t th8 (x)mpany law requirernents for the Trustees lo present a strategic report. WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 AGhigvements and performance The primary charitable activity ol the TrLLsI durmw tl* year has been Ihe educatiofb of the lon average) 345 children al WesttK)urne House School. Overall pupil nurnbers increased steadily during the year, wifft a net gain of 6 PL¢pils. Although our end of year pupi5 numbers are stror¥J, we anliapate sI￿htfy weaker numbers in the next 2 years as the detrimental effects ol the Goverrwnent's deasion to impose VAT on lees forces sotne parents out ol the Independent SclKx)Is Sector. On the overseas fiont, there was a sleady uptske from Asia and good numbers from Spain. The SchDoI has an elfective range of agents and contacts lo ￿￿11 our overseas target for 26r26. UK agènts hav8 a150 b88n èngag8d to help in¢rease our intske fr￿ Ihe ForewJn, Commonweath and Devèlopment Olttr. UK Armeil Forces 8nd tAue-chip companies. At tho end of the year, all 44 pupils in Year 8 passed the Scholarship or Common Entrance exarTtin81ion lo galn places al senior schcx)l. Twenty pupls won a total ol ￿ awards from thew senior school in recognitK)n of Iheir ability and potential. There has been C￿siderable success on the sports r￿Id8 for both our teams and indivKluals. Pupils have competed at diglricl and county level in a range of competitive sports induding nelball, sailing, swimming and hockey, wlth 2 boys ￿p￿sentIng the Su55ex LK)ns at football. This was atso a go(￿ year for our athletes, with 8 record number qualifying for the National Alh￿ti(S Finals in Bimiinghatn. OUF largest numbers in terms OF 18presenlational horK)urs, however. were in cxick6t with 15 boys 8nd girls involved in cricket at county level. This balanced curriculum also included a structured programme of outdoor educabon and leadership actNilies for Years 3 10 8. This included 8 series ol reshjential trips througtrKMJt the South of Ewl8nd. These are conSidera￿e achievements and supporl the Senior Managemw)t and Tru5tees' aim ol maximising pupil potent￿1 in all regards. Schoc*l and Communlty Support The School seeks to promote 8 family atmosphe￿ within ils ¢ommunrty and enjoys an excellent relab'onship with its employees. Staff turntsver remains low." few teathers leave other than on promotion or retirement and there is a giK)d record of internal promotion. The School maintains a ch)se relationship with parents and with fomièr pupils and continues to strengthen its ties w11h the Old WestbDum&4n community. The pastoral team continue to help pupils manage the challenges of schwl life, providing emotior731 support required to help lorge good mental health and wellbeing. west￿urne H¢)use is very conscious and proud of ils place in the wider Gommunity. During 2024-25, Ihe sports facilities were fully booked by local clubs and teams. including squash, badminton. ftstrlb211. h(￿ey, rugby. cricket and swimming. In some t2ses, a charge Is made to defray a proportion of mnning expenses, but each week the Sd)ool provides Tecreational opportunities to hundreds of people from the k)cal area. The Millenniurn Hall o)ntinues to be a popular venue for festivals of musr, dT8rn8 and dance as well as fund-raising evenls for charities and the School looks lO￿ard to playing a greater role in the CLiltural life ol Chichester. Thè hire of la(ilit*$ for tharitsble and fund-raising activities is generally freè. or at a greatly reduced rate. WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED)IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT> FOR THE YEAR ENDED 31 AUGUST 2025 Publlc Benefit Th8 School has an excellent recor¢S of facilitating access for children from a wde rang8 of soaal and financial backgrounds, including ttte most disadvantsged. to provtde them wtth the opportunity to be￿fit from the full bre8dth ol a Westbourne FIDuse &ducation with appropriate bursary and SGhdarship assslarTrce. Bursary awards are made on the basis of parental means or to ￿lIeVe hardship where a pupil's educatK>n and flrture prospects would otherwise ￿ at ri8k. In assesslng means, a number of f3Ct(xs are taken into consideration i￿l￿dIng family income, investments and assets, together with family circumstances, as the School seeks to ensure opportunities are given lo pu￿1$ across the ftjll spectTU¥n of affordabili¢y and soual backgrcmjnd. Means tested sUPPQrt 15 rèviewEd on a periodic basis lo identify any swJnificant change in f1nanckal Cirrjjmstan￿. During th8 year, 73 children ieceiv8d assistance from the sc￿01 in the form ol $ch￿arshipS or bursaries while a further 23 children paid discounted fees. Six children benefited from bursaries I￿)rth 75-11X)% ol lees. induding two Ukrainian children who jolr￿ the School following the Russian invasK)n of their cwntry. The Twstees continued iheir poliey of WKJening access to the School by a(fverbstry further subsiantial awards. Pupils, parents and slarf again organised a wide variety ol fundrais1r￿ activibes l(K Ihis y8aVs Sckool charities, ir)cluding Home-start Chichester and District, Thèmbalrtsh8 FoundatK)n. Surfers Against Sewage and the School's own Bursary Fund. The SclKK)I continLJÈS lo fU￿raISe and has arrtassed sufficient lunds over the lasl 2 years to donate £78,104 to good causes. Westboume House contributes &gnificanUy to the local e(x)FK)ffly. Its wnployees wedominanlly INe Mi the Chichester area and the Scho(A has a tK)licy of Purch￿￿9 goDds and serwces locally wherever possible. We know that meeting Ihe cost of a first-class independent edu(xtion is a major investtnenl for all our parents, and that many have lo make significant S3crtfrces to meet thi8. And we also recognise that lax changes have significanlly added lo this cosl. We are therefore continually seeking effTrciency improvements in our educational provision 8nd in the wder School operations. Flnancial review The oper8ling aclivities of Ihe Trusl generated an Income of £6.308 million and this resulted in a deficit on unrestricted funds of £362,953 and a surplus on restricted funds of £33.997 Itotal deficit for the year being £328,956). There was a decfease in operating income of £400.1TI relative to last year. Staff ￿$trUCt￿lIng costs of £140,000 a￿ included wSthin these figures. which will go on to reduce staff costs in 2025-26 by over £330.1MK). Th8 Trustees will continue to bear diyNn on costs and seek further saviros where they lie in ordèr to ensure the fin8nci81 health of the school lor ihe long lem. TDlal bala￿eS held wlh National Weslminsier Bank as al 31 Augusl 2025 were £750.909, wth further £3.538 million hekj in investments and cash wrth Rathbones. T￿ Trust made an investment gain dLJring the period ol £29,6￿. Total reserves al Ihe balance sheel date a￿ £13.658,621 12024 £13.987,5771. of which £13.299.25912024 £13,731.124} are unrestricled and £151,371 12024 £117.3741 are resiricted. Designated funds lolal £207,991 12024 - £139.0791. It is the policy ol Ihe d)arity th8l free reserves should be rn8inlained al a level eqUiva￿￿t to al least three monlhs. expenditure. The Trustees con&der thal reserves at this level will ensure that, in the event ol a significant drop in funding, they w51 be able lo continue the charity's current activities whilst consideration is given to ways in which addilional funds may be raised. As at 31 August 2025, free ￿ServeS stood al £2.731 million representing the Gharity's unrestricted (unds less fixed assets1£10.775.9491_ The day-to-day finances ol the charily are managed by the Bursar and the Finance Manager. The Bursar reports regularly to the Finance Cornmitlee. Budgeting and careful control of expenditure are key policies lor the charity. The charity's principal funds are generaled from fees charged lo parents of pupils. All expendilure In the yè¥r, other than governance costs, has been incurred speCif￿11Y lo meet the cthariws key objective of educating children up to the age 0113. WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees consider that Ihe market value of the land and bull dings substanlialfy ex(*Èds the book value of £9.860.210. Risk review The Trustees have assessed the maiof nsks lo which the company is exposed. in particular those related to the opeialions and finances of the company. and are satisfied that systems arKI procedures aTe in place to m￿gate exposure to Ihe major risks. This year's Risk Review contsnues to be dominated by the fallout from the Labwr Party's decision to remove the VAT exemption for eduGqtion and boarding 5erkices provided by private schools and remove the eligibilrty of private schools that ale charitie5 for business rates charitabk relief. whilst in(xeasing the Employers, Rate of National Insurance. Notwithstanding this. the iTUStees and senior ￿adership team ale committed to conb"nuing to prO￿lde the edU￿tIOn which We5tboume House has afvrfays prowded. Our risk assessments and financial planning wtll (xintinue to consider the praclical inplcatk)ns of Ihese thanges whith are consKleied to be: a reduction in pupil numbers and resuhant in fee in(x)me due to an &lver5e change to the VAT regime and busness rates ptslycy d8scribed above. - a majoi in¢idenl which causes closure of the sch￿11 andlor severe kiss of (x)nfiden¢e by parents. - a major accident which causes partial or eomplele ck)sure ofthe Scho￿. Plans for the future Westbouine House plans lo strengthen rts posrtion in Ihe Prepafatory School sèctor by employing suificienl leachirvJ staff of the right calibre and expertise to inspire OUT pupils and by ensunng a hwJh standard of facilities through continuous upkeep of Ihe buildings and grounds_ Our objedives are sel out on Page 1. Our commitmènt lo the broadei communty through chanty fvndraising will continue. A portion of oui fvndraising will be used lo support the Bursary Fund which the Trustees see as being an important aspect of widening access lo the School. Strutture, governan¢e and management The Trust is a registered chaiity and a company irTrcDrporated under the Companies Acts 1985 to 2(X)6, limited by guarantee. The Trust's governing document is its Memorandum and Artides of Associab'tsn. The Trust's objects are lo provide high qualily education for children up to the age 0113 years. through the me(lium of Westboume House School, and lo prepare children for entry to PulAic and State schi)ols. The Trustees. who are also the diiedofs for the purpose of company law, and who served during thè yèar and up to the date ol signature of Ihe finanual slalemenls We￿-. J AB Btuce Bsc FCA Mrs K Hogan BA J APassam BA MBA J H L Patrick MVO Bsc (Chairperson from 8 Juty 20221 Mrs S L Morison 8A CSRIXMA W J Grrffilhs Bsc A-C Strorneyer-sallaba Msc B N Sdtnan Bcorn FCA C C D Fowlei BA Mrs K E Langmead BA C A Franks IReggned 10(aober 2025} IAppointed 1 October 20251 (Appointed 1 February 20261 None ol the Trustees has any benefiual Interest in the company_ All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) TRUSTEES. REPORT ICONTINUED)IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The TTuslees desire that the Board shoukj represent a wide spectruffl of ewropriate intoresl and experience including business and adminislralion. education. the law. the art5 and. especial￿. a strong feeling for the School and its aims. The Thajorily of Iruslees have had children al the Sthool and il is the policy that one or Irtsstees should bè current parents. Twslees may ￿ wminaled by anY0r￿ connected wth the School and nominations are considered by a small comrnitlee of Trustees who take soundings frorn interested parties, inckiding the Headrnasl81, belor8 recommending a name to the full board. The induction and training of new Iruslees is in five tsverlapping phases." a detailed introducth)n to Ihe School by the Headtnaster and Bursar, mentoring by the Chairperson of Governors and by the chairperson of committees in their respective areas, lfequent visits to the School and regular conlact via newsletters elc, attendance at events organvbed by Iraining bodies, and seK-sludy of training mèterials. In the last Independent Schools Inspectorate inspeclion from 14 10 16 October 2025, the School was found to meet all ol the necessary standards. The Trust is govetned by a Board ol Trustees (Govemorsl detemine the policy and strategies of the School. The Board Is supported by the Finance and General Purposes c0￿mIttee and by the Arademic and Pasloral Committee. The operational manègefflent of the SchcK)l is dirècled by the Headmasier, Mr Martin Barker {Chief Executive Officer) and the Bursar, Mr Gordon Fakoner Ichiel Operab'ng & Finance Officerl who mana9e a total of62 teaching staff and 82 support non-teaching slaff, both ftjll and part time. Remuneration is set by Ihe Board. wlh the policy objective of ensufing appropriate incenlives lo encouragtr Èrnhan￿d performance and in 8 fair and reswjnsible manner. rewarding for indwidual contribuliDnS to the School's success. The appropr1aleness arvj relevance of the remuneralK)n policy is reviewed regularfy by Ihe Remuneration Sub-cornrnittee. including reference to comparisons with other inde￿ndent schools to ensure Ihal Weslbouine HoLFse remains sensitive lo the broader issues of pay and employment conditions elsewhere. We aim to recruit. subject to experience, at a position within a pay band In order lo be aNe to reward staff for excellence. Delivery of the Company's charitable viS￿n and purpose is primarity dependent on our key management personnel and staff costs are the largest single elemènt of our charitable expenditure. There are no restrictions on the investrwit p(w4ers of Ihe Trustees. The ￿rrent strategy is Iocused on lory term capital growth with Ralhbones on a Risk 5 Inveslment Strategy lon 8 scale 011 to 6). The investrnent horizon is long term, Mth an objective of CPI + 4% per annufft net ol all f￿5 over a 3 year rolling basis. The Trus186s keep the perf0rnan￿ ol investrnent5 under regular Teview in order to ftwnage risk and maximisè return. A$$et cover for funds Note 26 sets out an analysis ol the assets attributablè lo thè vawious funds and a d8scription of the Trusts. These assets are SLffticient to meet the charitys obligabons on a fund by fvnd basis. Auditor In accordance with the companrfs art￿￿e5. 3 resolution ￿0poSIng that SumerAudit be reapr>ointed as aL¥Jilor of the company will be put at a General Meeting. Disclosur• of Infomiation to auditor Each ol the Trustees has confirmed that ihere is no infomiation of which they are aware is relevant to the audit. but ol which the auditor is unaware. They have lurther confirmed that they have taken approp¥iale steps lo identify such relevanl information and lo establish that the auditor is avrare of such information. Thè Trvstee ' report, in¢ludiryJ the stra18gic rèporL was approved by the B(N4rd ol Trustees. J H L Patriek MVO Bsc {Chairpersonl Truslee WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees, who are also the directors of Weslbourne Fk)use scho￿ EducatK*n81 Trust ￿MIted for the purpose ol company law, are responsible for preparing the Trustees. Report and the financial statements in accordancè with applicable law and United Kingdom Acc(￿nting Standards Iuniled Kingdom Generally Aweple(J Accounting Practice). Company Law requires the T¥ustees lo prepare financial slatemenls for each financial year vh)ich give a true and lair view of Ihe stale of affairs Df the Trust and ol Ihe incoming resouices arKI applution ol resources, including the IncoETte ar)d expenditure. of ltrÈ charitable company for that year. In preparing these financial statements. the Trustees are required lo= - Select Suitable accounb'ng policies and then apply them cthsistenlty- - observè thè mèthods and prinuples in the Charites SORP.. make judgements and estimèles that aTÈ réasonab￿ arKI prtKlenl- and prepare the finan¢T81 statements on the going concem basts unless it is inappropriate to presume that Ehe Trust will continue in operation_ The Trustees are responsitjle for keeping adequate accounti¢YJ recoTds Ihat disck>se wrfh reastsnab￿ accuracy at any lime the financial position of the Trusl and enable them io Ènsure that the financial statements comply with the Companies Act 2006. They ère also rèsponsible for safeguariling the assets ol the Trust and hÈr￿è loi taking reasonèble steps for the Pfeverbtion and detection of fraud and othet irreguL4rilies. WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED Opinion We have audited the financial slatemenis ot WestLwJJffle HOl￿e Educats"onal Twst Limited (the 'TrtJsl'l for the year ended 31 August 2025 which comprise the slalemenl ol financral acb"vities, the baIttn￿ Sheet, the stalefflenl ol cash flows anil noles to the financial statements. inchjding significant ￿￿oUnting policies. The financial reporting framework Ihsl has been applied in their preparat40n is applicable law and United KingdoTn Accounting Standards, including Finanaal Reporting Standard 102 The FinèncAal Repo￿n9 Standard appljcable in Ihe UK and Republic of Ir818nd (United Kingdom GeneraltyAccepled Accounting Practice). In our opinion, the financi81 statements.. gwe 8 true and lair wew of the stste of the charitable company's affaiTS as at 31 August 2025 and ol ils incoming resources and applicalion ol TesourcÈs, induding its Incon* and Èxpenditure, lor Ihe year then ended", have been property prepared in accordancè ￿th United KIn￿M Generally Accepted Accounting Practice" and have been prepared in accordance wilh the reqUire￿￿nIS of th8 cOmpan￿sACt 20(￿. Basis for opinion We CDn(Jucled our audit in accordance wlh International Sl*Klaids on Auditing IUKI IISAS IUKI} and applicable law. Our responsibilities under those standards are lurther described in Ihe Auditorfs rBsponsibilitps for ffie audit of Ihe financial sEatefftentS section ol our report We aTe independenl ol the Trust in accordance wilh th8 81htcal requirements that are relevant lo our audit of the financial slalemenls in Ihe UK, including the FRC'S Ethical Standaid. and we have lullilled OLJr other ethical responsibilities in accordance with these requiremenis. We believe that the audil evidence we have oblained is suffic*nt and appropriate lo wovide a basis lor our opinion. Concluslons relatlng to golng ean¢ern In auditing the linancial statements, we have concluded that Ihe Trustees. use of Ihe goin9 concem basis of accour)ling in the preparation of the Iinancial statements Is appropriate. Based oft Ihe work we have perfom)ed. we have r￿t identified any malerial uncertanties relatlng io events or conditions that, individijally or collectively. may casl significant doubl on the Twsl's ability to continue as a going corcem lor a period ol at ￿a51 twelve months from when the financial stateTneThis a￿ authorised for rssue. Our responsibilities and the ￿$t￿￿$1b•1￿j'eS of t1￿ Trustees res￿1 lo going concern ar8 dèscribed in the relevant sections ol thi5 report. other Informallon The other information comprises thè inft>rm8tion induded in the annu81 ietxyt other than the finanaal slalements and our authtor's rèport thereon. The Trustees are responsible for the other information contained within the annual report. Our opinK)n on the financial statements does not cover the other inforrnation and. except lo the extenl oth8nNise explicitly staled in our report. W8 do rK)t express any lom) of assurance conclusion thereon. Our responsibility is lo read the other informatK)n and, in fj(4ng so, considèr whéther the other inlixThab"on is materially inconsistent wlh the finanoal statements or our knovAedge obtained in the course ol the tudit, or oltrerwise appears to be malèrialty misstated. If we identify such material inconsislencies or appaont material misstatements, we are required to determine whether this gives rise to 8 material mBstatemerbt In the financial statements themselves. If, based on thè work we have performed. we conclude that theFe is a material misslatement ol this other information, we are required to report that lacl. We have rK)thing lo report in Ihis regard_ WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED {LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED Opinlons on other matters prescribed by the Companies Act 2006 In our c>pinion, based on the work undertaken in the course of our èudit-. the infoirnalion given in the Tiuslees, reptsrt for the financial year for which the financial statements a pr8pareiJ, which includes the (lirectors. repori and the stratwc rerxxt prepwed for th& purposes of company law. is consistent with the linancial Slalements., and the strategic report and the directOfS' report ncjuded with"n thè Tmslèes. report have ￿en prepared in accordance wth apphcable legal requirements. Matters on which we are requlred to report by exception In the light of the kTrovdedge and understandin9 of the Trtjst and lis envwonmenl obtained sn the cwr5e of the audlt. we have not idenlffied material nwssiatements in the strategic ￿p(￿l or thè directors, report inclLk1ed within the Trust8e5' report. We havé nothing lo report in ￿spect of the folkywing rnatters n relath.on to which the Companies Act 2006 r￿uIreS us lo report to you if, in our OpinK￿.. adequate accounting rèc(Kds have not been kept. or rel￿rr￿ a(lequale for our audit have not been received from branch85 nDI visited by us.. or the financial statèments are not tn agreement with Ihe accounting records and relu¥ns', or cer(ain dlsclosures of trustees. remuneration specified by bw are not made- or we have not receNed all the inlormalion and explanations we require for our audit. Responsibilities of Trustee5 As explained more lully itl Ihe statement of Tnjstees, responsibilities. the Trustees, who a￿ also the directors of the Trust for thè purpose of company law, are responsib￿ for the preparation ol the finaricial ststements and for being satisfied Ihal they give a true and lair v*w, and fL¥ such intemal control 8S the Trustees delermirbe is nècèssary to enable Ihe preparation ol financial statements Ihal a￿ free from rnaterial misstatement, wh8lh8r due to fraud or error. In preparing the finanual statements. thè Trust8es a￿ reSp)nsIb￿ for assessing Ihe Trust's abtrlity lo contlnue as a going concern. disclosino. as applicable. rn8tteTS related lo goirwJ ￿ncern and using the going concern basis of accounting unless th8 Trustees either intend to IK4uidatè thè Charitab￿ company or to ceasè operalK>ns, or have no realistic alternab.ve bul lo do so. Auditor's responsibilities for the audit of thè financial statements Our Dbjectivès are lo obtain reasonable assuiance about whether Ihe financial statements as a whole are free from material misstalemenl. wheth&r due to fraud or error, and lo tssue an auditor's repcprt Ihal includes our opinion. Reasonable assurance is a high level of 8ssuTance but is TK)t a guarantee that an audit Conducted in accordance with ISAS IUKI will always delect a material misstatement when it exists. Misstatèmènts can arise from fraud or error and are considered material tf. indmdualty or in the ag9regale, they COLJld reasonably be expected lo inftuence the economic deciwons ol users taken on the basis ol these liftanaal ststemenls. Identification and assèssment of irregularitie$ includlng fraud Irregul2rities, including fraud, are instances ol non-compliance wth laws and regulations. We design procedures in line wth our responsibilits"es, outlined a￿Ve, to delect maierial misstalernents in respect ol irregularities, including fraud. Th& extent to which our p￿￿edtsres are capable of defectiro irregularits"es. includir)g fraud, is detailed bel¢)w. WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED In identifying and 855essing risks of malerial mtsstslement in resF*d of irwularib"8s, inclwling Iraud and norF C￿mplIance wth laws and regulations. our procedures induded Ihe follDVMg= . Obtaining an undersianding of the kgal arml regulatw framew(Kk that Ihe charity ¢)peratos in, focusing on those laws arKI regulations that had a direct efleet on the financial s18terYwts and oper8lK)ns: Obtaining an underslanding of the Charit￿s wlieAes and procedures on fraud rtsks. induding knO￿e¢yge ol any actual, suspected or alleged fraud.. Discussing aM(￿g the engagement team how aThJ where fraut mighl ctujr in the financkal statetnents and any potenllal indicators of fraud through tsUF kr￿￿￿e and understanding of the ￿rnPany and our 5eclor-speufic experience. As a result of thèsè procedures. we considered the OPFX)rtunities arKI incentives that may exist within th association for fraud. We are alsu iequired lo perform specilic procedu￿$ to respond lo the risk ol rnanagemènt overritje. A5 a result of performing the above. we Identified the folltrwng areas as those [r￿St likely lo have an impact on the financial statements.. health & safety and empk&yment law, as well a5 compliance with the UK Companies and Chaiiti8s Acts. In addition to the atrKsv6. our pro¢edures to respond to risks identif￿d included Ihe followng.. Making enqulries of management about any or suspected instancès ol non-compliance wlth k3ws and regulations and fraud., . Reviewing minutes of meetings ol the board senior manawenl. Reading corresponde￿8 with ￿gula10￿9 - Challenging assumptions and Fudgemenls madè by fflanagement in th￿r synificant accountirTrg estimates., and Auditing thè risk of rnanagemenl override of controls. including through testing joumal entries and other adjustrnenls for approprkAteness. Due lo the i￿her￿n1 lirnitations of an audil. there is an unavoidable risk that sorne material misslalements in the financial slalements may not be detected, even trM)ugh the audit is properly planned and perfomed in accordance vAlh the ISAS IUKI. For instance, the further removed non-cornpliance is fiom Ihe events and Iran5acttons reflected In tre financial siatements. the less likely the auditor is fo become aware ol it or to reCc￿nise the non-compliance. A further description of our responsibililies is availat￿e on the Fina￿la1 Reporting Counol's website al- httpsjl www.frc.org.uklauditorsresponsitM'hties. This dèscripth)n foms part of our 8uditorfs report. WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED ILIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT {CONTINUED} TO THE TRUSTEES OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED Vs• of our report This report Is made solely to the Charittib￿ companys merntes. as a body. In aCCor(lan￿ wth Chapter 3 of Part 16 of the Compani* Act 2006 Our audit work ha5 been undertaken so ihat we muht stale to the ¢harrtab18 wmpany's members those matters we are required to 5tsre io them In an audrtorfs report and for no other putpose. To the fullest extent permitteunts in 8ccordan¢e wth the Financial Reporting Standaid ppliGable in the UK and Republic of IrebThY {FRS 1021 leffeclive 1 January 2019)". The Twsl is a Publ Benefit Enlity as defined by FRS 102. The financial slalements are prepared in slerfing, which is the lunctK>nal caJr￿rIcY of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under Ihe historical cosl convention, nN)dified to indude Ihe revaluation of certain financial instruments al fair value. The prnupÈl 8ccounb.ng pdicies adopted are set out below. 1.2 Going concem Al the lirne of approving Ihe financial statements. Ihe Twstees have a reasonable expeclalK)n that Ihe Trust has adequate resources to eonlinuè in operational existence lor Ihe foreseeable future. Thu5 the Trustees continue to adtspt the going concem basis of accounting in preparing Ihe financial sl8lÈments. 1.3 char￿able funds unrestr￿ted funds afe available lor us8 at the discretion of t1￿ Trttslees in furtherance of their charitable objectives. Designated funds comprise funds which have bèen set asjde al the discretion of the Truste8s for specific purposes. The purposes and uses of Ihe designated funds are sel out ￿ the rA)tes lo the finanual slalements. Reslricled funds are subject to specific conditsons by donors or granlors as tD how they may be ￿ed. The purpostrs and uses of the restn"GtÈd ILfftds are sel out in the n¢Aes lo the fina￿la1 stalemenls. 1.4 Income Income. including grants. is rewgnised when the Trusl is legally entilled to il after ary performance conditions ave been met, the amounts can be measured reliably. and it is probable that income wll be ieceNèd. Cash (k)nations are recognised on receipt. Other donat*)ns are recognised the Trusl has been notified of the donatDn. unless performance condibons require deferral of the anTr)unt. Income lax recoverable in relation to donaltons receivéd urKler GrfIAKI or deeds of ¢overbanl reG￿nIsÉd at thè lime of Ihe donation. Legacies are recognised on receipt or otherwse if the Trust has been notified ol an impending distribution, t amount is known, and receipt is expected. 11 the amounl i8 f￿1 known. Ihe legacy is treated as a conbngent asset. Included in olher income are recoverables which are shown net of expenditure. These are shown net because th8y are small amounts spent whid) a￿ [ecovÈiab￿ from the pu￿.19 arKI a￿ includad on the bills sènl to parents. 14- WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies IContsnuèd} 1.5 Expenditure Liabilities are recognised when they are incurred and th& costs are debile¢J to the Slalement 01 FinancL91 Activities irT full in the year in which they relate lo. Education equipmenl and materials and and games equiprnent incurred in June, July and Augusl a￿ treatèd as prepaid and are therefore debited lo thè Statement Of Financial Activities in Ihe folhmng finanual year. Charitabl8 activities expenditure consists ol provFdiThJ 8du(ation which is split between activit￿$ ￿￿Jertake￿ directly, grant funding of activrties. support costs and govemance costs. Activities undertaken direclty Includes the gross salary. employeffs Nl and employerfs pension of the teaching staff, Ihe depreciation of the cornpuler equipment, educath.on equipment and mateik3ls. sport and games equipment. educational vtsits and actsvilies and provisions. Support costs includes all the other costs incurred except audit and acu)Ll￿1￿CY fees which are included In Govemarbce costs 1.6 Tan9ible flxed assets Tangible fixed assets other than Ireehold land are ststed at cost net of ¢kpredation and any impain)ent losses. Depreaation is recTrJniseil so as to write off the cost or valuat*)n of assets le55 their re￿dUal values over their uselul lives on the following bases.. Freehold land and buildings Leaseh)Id property Plant and machinery Fixtures, filtj'ngs & eqLtipmenl Computers otor vtshides 1 S yeaTS 150 years straight lffte 25% Reduung balance 110% straighl line 10 /0 Reduting balan 10%- 25Yo Straight line 25% ReducitwJ balance No depreciation is WO¥Kled on freehold builclings on the gT(xJnds thal il would be immaterial as the buikjings have an estimated long reMa￿Ing useful life and hoh iesidual value. in ex￿S$ ol theii c05t_ The gain or k)ss arising on the disposal of an asset is determined as Ihe differen￿ between the sale proceeds and the carrwng value ol the asset. and Is Teccgnised in the statement of finanaal aclivits'es. 1.7 Fixed asset investments Fixed assel investments ale initialty measured al transacti(￿ prw exduding transactDn costs. and are subsequently measured al fair value at each reporting dale. Changes in fair value ale Fecognised in net incornellexpendilurel for the yeai. Transa¢ti(>n Gosts are eynsed as Incurred. 1.8 Impalrment of fixed assets At each reporting end date, the Trusl reviews the varrying amounts ot its tangible assets to determine whether Ihere is any indication th81 those assets have sufferèd an impaimient loss. If any such indication exisls, the recoverable amount of the asset is estimated in order to determine the extent of the impairnienl h)ss lil any). 1.9 Cash and cash equivalents Cash and Cash èquivalenls include cash in hand, deposits held al c811 with banks, other short-temi liquid investments wth original maturities of three months or ￿55, and bank overdrafts. Bank overdr8fls are shown within LK)rrowings in current liabilit*s. 15- WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies Icontinuedl 1.10 FlnAnelal Instrumènts The Trust has elected to apply the prowsions of seCt￿n 11 'Basic Financial Instruments, and Sectlon 12 'Other Financi81 Instru[T￿ts IssL￿. of FRS 102 to all of its financial inslrutr*nts. Financial instruments a￿ recognised in the Trust's balan(* sheet when the Trust becomes party to Ihe contractual provisK)ns of the instmment. Finantial asselg and l¥abilities are offset. with Ihe nel amounts presentèd in thè financial statements, when there is a legally enfor￿3￿￿ right to sel off Ihe recognlsed amounts ar￿ there is an intentw to settle on a nel basis or lo italisg Ihè assel arKI setlle the Iiatmlily sirnullareously. Baslc flnanclal assets Basic finana21 assets. whTch inctudts debtors #n(1 cash and bank balances, are inrtially measU￿d at transaction price includirTg tran5aclK)n costs and are subseouenuy carr￿￿ at amortised cost using the effe¢(ive intere51 method unless the arrangement constitutes a financing Iransac(K)n. W￿re the transaction is measured at the present value of Ihe future ieceipls discounteil 818 market rate of interest. Financial assets classified as re￿]vable within one year are ￿ a￿￿¥tIsed. Basic financial liabilities Basic financial liabilities. Indui*ng creditors and bank loans are initially recognised al transaction pri￿ unless Ihe arrangement consblules a financing Iran58Ction, vknere the debt insirumenl is measured al Ihe presenl Value of the luture payments discounted èl a market raÈe of intere5L Financial li3bilitie5 da5sified as payable within one year are not amortised. Debt instruments are subsequenlly carried at amorkn.sed c05t. L15ing effecttve ￿terest rate method. Trade creditors are obligations to pay for goods or services that have been acouired In the ordinary course ol operations from suppliers. AmoLrnts payable are cLqssified as current liabilities il paymenl is due within Dne year or less. 11 not. Ihey are presented 35 nonns about the carrwng amount of assets and l￿bIlItIeS that are ntst readily apparent from other Sources. The estimates and associated assuFETrPtiDns are based on historical experierKe and olher18clors that are considered to be relevant. Actual results rnay dilEei trom these estimate5. The eslimales and undertyirvJ a&sumptions are reviewed on an i)ngoing basis. Revisions to accounling estimates are recogni5ed in Ihe per￿ in which the estimate is rewsed where the revision affects only that period, or in th8 P8riod of the rewsion and futurè pertods whetè the revisK)n affects tM)Ih current and future pèriods. Donations and legacie5 Unreslrieted Restrictsd funds funds Total Unrestrictèd Restricted funds funds Total 2025 202S 2025 2024 2024 2024 Donations and gilts 1,778 12,537 14.315 5.625 20,173 25,798 Charitable activit•es 2025 2024 Gross Fees receivable Less: Bursaries, SchoLgTshrps and Discounts 6.796,452 1736.5031 7,223,978 1726,1(Kl Nel Fees receivab 6.059.949 6,497,872 Recreati￿al facililEs Summer camps and courses 66.654 9,928 61,803 22,290 6,136.531 6,581.965 Income from other tradlng activities Restrfcted funds 2025 Rèstrletèd fund5 2024 Fundra￿sIng evenls 80.379 17- WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Income from Investmènts unreSt￿¢t￿ Unrestricted funds funds 2025 2024 Income from listed investmenls Interest ￿CeIVable 128.349 63,067 58,229 94,153 191.416 152.382 Other income Unrestricted Unrèstricted funds funds 2025 2024 Other income Letting ol boarding facilit￿S 91,327 99,464 26.985 91.327 126,449 Expendliurè on raising funds Unrestrlct•d Rèstrictèd funds funds 2025 2025 Totsl Unrestrltttd Restricted funds funds 2024 2024 Total 2025 2024 Fundraislng and publicity Stzging fundra￿1ng events 32.806 32.806 Inveslmenl management 20.012 20.012 11,408 11,408 Total costs 20.012 32,806 52.818 11,408 11,408 18- WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Expendilur* on charltsble a¢tivlties Providing education other charitable purpose5 202$ Tolal Provlding education Other charitab purposes 2024 Total 2025 2025 2024 2024 Direct costs Stsff costs Dapreci8tion and impairment Education equipment aftd materials Sport and games equipment EducalDnal visits and actiwlies Prowsions 3.288.340 3.288.340 3.250, 3.250.984 37,725 37.725 48.135 48,135 163.336 163,336 200,664 200,664 5.999 7,555 7.555 36.480 255,522 36,480 255,522 56.490 261,563 56.490 261.563 3.787.402 3.787,402 3.825,3TI 3,825,371 Grant funding of aclivitEs (see note 101 25.763 350 26.113 6D.567 60,567 Share ol support and goyèmance costs (see note 11) Support 2,979,511 Governance 26,776 2.979,511 26.776 2.623,198 21,494 2,623,198 21,494 6,819.452 6.819,802 6,470.063 60.567 6,530.630 Analysls by lund Unrestricled funds Restricted funds 6.793.689 25,763 6,793.689 26.113 6.461.193 8.870 6.461,193 69.437 350 60.567 6.819.452 350 6,819.802 6.470.063 60,567 6,530,630 19- WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 10 Grants payable Provlding education Other hartrtable purposes 2025 Other charitable purFt>ses 2024 2025 Grants lo institutions- Other grants Chestnut Tree House- Children's ho5￿Ce Gltsb81 Canopy- largeling reduung defore$lat￿n Wesl Sussex Mind- mental health suppcrft & awareness 350 265 20,101 20,101 20,1(K) 350 60,567 Gianls to individuals 25,763 25.763 350 60,567 The oranls payable lo indNiduals of £25.T63 12024 £0) are reslricted grants to pupils for their fees and expenses paid out of the Bursary Fund_ WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 11 Support costs Support Govemance costs costs 2025Support cosls Govemance costs 2024 Staff costs - Support staff costs - Welfare Staff costs - Holrday pay provision Depreciation Rates Insurance Lrghl arKI heat Repairs and rnainlenance Prlnting, postage, stationery, advertising and website Telephone and lax Motor expenses Legal and professional lees School inspèction Housèhold Èxpense5 Cleaning contracts Upkeep ol grounds and pool Bad debts SurKJry expenses Irrecoverable VAT Pre Regislralion VAT recovèred Bank charges 1.495.680 411,333 1.495,680 411.333 1.272,673 360.616 1.272,673 360,616 150.(t()} 117.863 98.755 46,101 189,700 150,0001 117.863 98,755 46,101 189,700 119.327 198.043 51.394 201.841 119.327 198.043 51.394 201.841 160,190 160,1 173.691 173.691 69.102 14.401 47.8 69,102 14.401 47.8 83,528 13.257 37.302 83,528 13.257 37,302 83,250 5,193 54,423 7.453 83.2 5.193 54.423 7.453 61.539 5,700 51,894 7.527 61,539 5,700 51,894 7,527 47,867 47.867 94,586 6,430 41,942 6.430 41.942 38,280 18,071 38,280 18.071 155.506) 11.279 {55.St61 11,279 10.094 10,094 Audit feès Accountancy 8.846 17.930 6.846 17.930 7,100 14.394 7,100 14,394 2.979.511 26,776 3.¢kn.287 2,623,198 21.494 2,644,692 Analysed between Chaiilable acbviles 2.979.511 26.776 3.(K)6,287 2.623,198 21.494 2,644.692 Govemance costs inclu(Jes payments to the auditors tsf £8.846 I2￿24- E7.1001 for audil fees and £17,930 12024- £14,394) for other servT(ZS. 12 Trustees None of the Trustees any persons connected with them) received any r6muneralion, benefits or refund of expenses from thè Trust during the year. 21 WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 13 Ernployees Numbèr of employèÈs The average monthty number ol emtAoyee$ durng Ihe year was". 2025 Number 2024 Number Teaching stafl Admin and siyporl staff Welfarè staff 62 52 30 68 46 24 144 136 Employmènt costs 2025 2024 Wages and salaries Social security costs other pens*)n costs Other staff costs Holiday pay provk8ion 4.218,913 399,762 453,006 123,672 4.018.882 373,363 433,98Q> 58,028 150,OOQI 5.195.353 4,834,253 During the year there was fedundancy expendilur8 of £11N).28912024- £11.5001 ofwhich £13,5W12024- £11,5LKII is induded in CTeditors in th2 baL3nc8 sheet. The total nutnb$r of full bme equrvafent staff was 9912024 - 971. This ￿mprISed leaching stsff of 4912024 - 521, admin and support stalf of 3612024- 321 and Welfa￿ stsff 0114 {2024 . 13). The number ol employees WIKW annLtal remunerakn was £￿.(m￿) ￿ more were.. 2025 Number 2024 Number £70.000- £80,00 £80.OOQ- £90,00 £120,OQD- £130,000 £130,000- £140,000 During the year. the charity paKJ £134.207 {2024- £117.9011 pension (xjnlributrons for 612024- 51 members 01818ff eaining over £fO,I)00. RemuneT#tioTr of key management personnel The remunerdlion of kèy management per%)nrsel is as folk)ws. 2025 2024 Aggregate compen581ion 531.435 534,458 WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 14 Gains and losses on Investmenls Unrèstricted Unrestricted funds fund 2025 2024 G8inslll)ssesl arising on.. Revaluatron of investments Sale of investmènt5 58,949 129,253} 137,278 20,269 29,696 157,547 15 Taxation The charity is exèmpt from taxat*ffi on its actiwties because all its ￿￿Orne is applied for charitable purposes. 16 Prfor Year Adjustmant The finarbCi81 slalernents include a restatement for Ihe comparative period wh￿h has been made to correct trad8 debtors and delerred income to rellÈct the timing of inyoiung. The rèstalemenl has resulted in a £1.7m increase to tradè debtors and deferred ir)come. There B no impact on the comparaliv8 per#)d carried fo￿ard reserves. -23- ¢0 (n U) (Q sri￿ y (o co b tn o) (00 ts) (f) C￿0 o oi ODJ orj r ¢OtsJ ooo rZJ WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Fixed asset investments LlstÈd investment5 Cash rn portfollo Total Cost or valuation At 1 September 2024 Additions Valuation changes Increase in portfolio cash Disposals 3.335.783 521.414 58,949 62,070 3.397,853 521,414 58,949 48,947 1491,2461 48,947 1491.2461 At 31 August 2025 3,424,WO 111.017 3.53S.917 Carrying amount AI 31 August 2025 3.424,9 111,017 3,535.917 At 31 August 2024 3.335,783 62.070 3,397.853 Fixed asset Investments revalued The investments are included 81 Midd￿ price market value al 31 August 2025. The historical cost of these inveslments is £3,344.47112024 - £3,262,437) 19 Financial In5trument$ 2025 2024 arrying amount of flnanctal assets Instruments measured at lair value through profil or loss 3,424,900 3.335,783 20 Dèbtors restated 2024 2025 Amount5 lalling due withln ohe year= TTade debtors Other debtors Prepaymenis and accrued inccffie 1.801.204 47.173 268.394 1,856.238 83.215 189.218 2.116.771 2,128,671 21 Creditors: amounts falllng due within one year restated 2024 2025 Notes other laxalion social security Deferred incorne Trade creditDrs other creditors Accruals 226,219 2,085.168 59.407 713,529 75,866 98,078 2,548,861 62,591 644.001 52,502 23 3,160,189 3,406,033 -25- WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 22 Creditors.. amounts falling due after more than one year 2025 2024 Notes Deferred income 23 364,234 1,117.013 23 Dèferred Income restated 2024 2025 Arising from Fees in advance 2.449,402 3,665,874 Deferred incc4ne is included in the finatKial ststements as fonows.. westst8d 2024 2025 Dèferred income is included within.. CUr￿nt 118bilities Non-currenl liabili1￿S 2,085,16B 364,234 2,548,861 1,117.013 2.449.402 3,665,874 Movements in the year. Deferred income at 1 September 2024 Released from prevDus penods - ulilised in lees Res￿rceS deferred in the year- new ccntracts 3,665.874 12.654.550) 1.438,078 3,665,874 Deferred income at 31 August 2025 2,449,402 3.665.874 Parents may enter into a contract lo pay to Ihe sthool up lo Ihe ewivalent of three years, luition leès in advance. The moftey may be returned subwt to stecific condFbon5 and on the re￿ipL of one lertn's nolice. Thè balance represents Ihe accnjed liabiljty urKler the contracts. 24 Rel1￿ment b&n•fit schernes Defined contributlon schemes The Trust opeFates a defined C￿tributiOn pensux) scheme for all qualifymig employees. The assets tsf the scheme arè held separalety from Ihos8 of Ihe Trust in an independently administered fund. The charge to profit or k)ss in respecl ol defir￿d contThbulion schemès was £453,00612024 - £433,980). At Ihe b2lancè sheet date there we accrued pension conin"bub"ons of £65.37012024- £62.8781. Ill- I OOOP- ow¢D Oootht o>ots￿ ou) Jjuo 000 CQ CJ CJ WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 26 Unrestricted funds The unrestricted furKls of the charity comprise Ihe uneypended balances of donab.ons and grants wh￿￿ are not subj'ect lo specific conditi(x)s by d(￿orS and grantors as to how they may be used. These include designated funds which have been sel aside out of unrèstrtcled funds by Ihe trustees for specrhc purposes. In¢oming resources Resources expended Transfèts Gains and At 31 August losses 2025 Sèptembèr 2024 Developmenl Fund Sustainability Fund Provision for A5tr0 Fund Gènero1 fvwKts 92,719 34.456 127,175 46,360 46,360 34.456 168,9121 34,456 13,299.259 13,731,124 6,421.052 16.813,7011 29,696 13.87QI,203 6.421,052 16,813,701) 29.696 13.507,250 PTrvlous year: At1 September 2023 Incoming resources Resources txpended Transfers Gains and At 31 August losses 2024 Development Fund Sustainability Fund General fU￿S 92.719 92,T19 46.360 (139,0791 46,360 13,731.124 13,318.836 6,866.421 16.472.601) 157,547 13.316,836 6,866,421 16.472.fA)11 157,547 13,870,2Q)3 Developmènt Fvnd The Weslbourne House School Devefopmenl Fund helps us provkle a safe. well- equipped, and pleasanl environment lor pupils and slatt. The Fund can be used lo support a variety ol projects, ranging from the corn4truction ol new buiksings tts the redevelopment ol existing structures The Development Fund is managed by the GovemFng Body. Parents and friends of the School can contribute to the Fund through one-off donat¥)ns or regular payrnenls. Sustainability FurKI The Westbourne Hrmjsè Sch(Ktrl Suslaffiability Fund helps us prepare lor a greener future. The Fund aims to advance sustainability onsite, in the dassroorn. in residences andlor in the local community. Provison for Astro Fur￿ - The Westboume House Schwl Prowsion for Astro Fund aims lo reserve funds in preparation for the replaGgrnenl of the School's astro-turf prtth which will reach ils end ol life in the next 3 to 5 years. -28- WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 27 Analysis of net assets between fund5 Unre$tricted R¢stricled fund5 funds 2025 2025 Totsl un￿striCted R¢stri¢ted funds funds 2024 2024 Total 2025 2024 Fund balanc85 at 31 Augusl 2025 are represènted by. Tangible assels Investments Current assetsllliabilit*s} Long term liabilities 10,775.949 3,535,917 1440,3821 1364.2341 10.775.949 1D,723.198 3.535.917 3,397,853 {289,0111 866.165 1364.2341 {1.117,013} 10.723,198 3.397,853 983,539 11.117.013) 151.371 117,374 13,W7,250 151.371 13,658.621 13,870.203 117,374 13,987,577 28 Operatlng lease commitments Lessee Al the reporting end date the Tiust outsl8nding (x)mmilments for future minimum lease payments under non-cancellable oper8bng leases. which f811 dLte as follows- 2025 2024 Within Lme year Between two and fNe years 4,420 5.893 11,970 12,374 10,313 24.344 The operatrfyJ lease payments iecognised 85 an expense in Ihe year were £11,38012024- £11,970). 29 Capltal comrnitments Amounts contract8d for but rkol provided in the fina￿￿1 slalements.. 2025 2024 AcquisilK)n ol property, planl and equipment 130.956 30 RtlatÈd party transactions TransactFons whth related parties Mr J Bruce has children Ihat allelld the school with fee arrangèments being in accordance with the school's normal lerms. -29- WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 31 Cash generated from operations 2025 2024 restated (Deficilysurpus for the year 1328.956} 502,103 Adjustments for. Investment In¢ome recognised in stalefflenl of financial activities Loss on disposal of tangible fixed assets Lossllgain} on disposal of tnveslments Fair value gains and losses on investments Depreciation and impairment of tangible r￿ed assets {191,4161 2,394 29.253 158.949} 154.658 1152.3821 1,820 120,2691 1137.2781 164.178 Movernents in working eapital.. Dècreasellincreasel in debtors Inereaselldecreasel in creditors (Decreaselfincrease in provisions {Decre£5eyincrease in deferred in(%xne 11,900 217,849 11,777,501} 1378,2751 {50.0(K)I 3,665.874 11,216.472) Cash labsoFbed by)Igenerattd from operations {1.379,7391 1,818,270 32 Anatysis of changes In net funds The Trust had no material debt during the year_ WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 AUGUST 2025 WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Incomlng resourcès Gross Fees receivable 6,796.452 7.223,978 Less.. Bursaries, Scholarships and D]￿UntS 1736.5031 1726,1061 Nel Fees receivable 6.059.949 6,497.872 Recreatson81 facili1￿S incomè Summer camps ard ccAJrses income Donations recewable Grants receivable Other ineome Lelling of boarding facilities Summer Ball income Bank and other interesl receivable Listed investrnent dividends receNab18 66,654 9.928 14.315 61,B03 22,290 25,798 91.327 99,464 26.985 80.379 63,067 128,349 94,153 58,229 6.513.968 6.886.594 Expenditure on Ralslng funds Summer Ball Investment management fees 32.806 20.012 11,408 52.818 11,408 Charltablè expenses Wages and salariès lindudes other staff cD5ts holday pay provisionl Etnpk)yer's Nl Staff pension Rates Insuran Light and heat Repairs and maintenan¢s Printing. postage, stationery and a(fvertisirKJ Te￿phOne and lax Motor expenses Education equipment and rnaterials Spc>rt and games equipment Provisions Housèhold exp8nses Cleaning contracts Upkeep ol grounds and pool Bad debls Edutrational wsits and activilies School inspection Sundry expenses Irreooverablè VAT Pre Registralion VAT recr)verÈd Depreualion Loss on disposal of tangible fixed assets 4.342.585 399.762 453.006 198.043 51.394 201,84fj 160.190 69,102 14.401 47,690 163.336 5,999 255.522 54.423 7,453 47.867 4,026,910 373.363 433.980 98.755 46,101 189.700 173.691 83.528 13,257 37,302 200,664 7.555 261,563 51,894 7,527 94.586 6,430 56.49 5,700 41,￿2 36.480 5,193 38,280 18.071 155,5061 1 $4,658 2,394 164,178 1,B20 WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED (LIMITED BY GUARANTEE) MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 AUGUST 2025 Lègal and professional fees Bank ehaTges Grants payable 83,2SO 11,279 26,113 61.539 10.094 60,567 6.T93.026 6,509,136 2025 2024 Govemance eosts Audit fees Accountancy and other fees 8,846 17,930 7.100 14,394 26.776 21.494 Net gains l {lossesl on Investrnents 29,696 157,547 {D¢ficitySurplus lor the year 1328.956) 502,103