OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-08-31-accounts

Registered number: 00803309 Charity number: 307035 Bury Manor School Trust Limited (A company limited by guarantee) Dlrectors, report and consolidated flnancial statements For the year ended 31 August 2024

Bury Manor School Trust Limited {A company limited by guarantee) Contents Page Reference and administrative details of the Company, its Directors and advisers Directors, report Independent audltor's report on the financlal statements Consolidated statement of financial activities 9-13 14 Consolidated balance sheet 15-16 Company balance sheet Consolidaled statement of cash flows 17-18 19 Notes to the financlal stalements 20-37

Bury Manor School Trust Limited (A company Ilmited by guarantee) Reference and administratlve detalls of the Company. its Directors and advisers For the year ended 31 August 2024 Dlrectors R D Agulter FCA JP. Trustee1 H R Dugdalo MA Icanlab) PGCE, Trustee2 M J Higham BA Cert, Ed, Chairmanl,2 A Meyrick, Trusteel N A Parsons, Trustee1 D W Mott MA (Canlab), Trustee2 A P Williamson BA {Hons) ACA. Trustee (resigned 4 March 2024)1 A H Windle. Trustee (resigned 4 March 2024)2 O Marshall. Trustee J L Hamblett-Jahn, Trustee2 T C Alhron, Trustee1 K J Smith, Trustee {appointed 4 March 2024) 1 Member of the Estates and Financ8 Committee 2 Members ofthe Academic Committee Company reglstered number 00803309 Charlty reglstered number 307035 Registerad offlce 9 Donnlnglon Park. 85 Birdham Road. Chichester, West Sussex. P020 7AJ Principal operatlng office Dorset House School, Bury, Pulborough, West Sussex, RH20 1PB Company secretary A C Owens Msc ACMA Independent audltor Kreston Reeves LLP. Statutory Auditor, 9 Donnington Park. 85 Birdham Road. Chichester. Wesl Sussex, P020 7AJ Bankers Natwest, 2nd lloor Turnpike House, 123 High Slreel. Crawley. West Sussex, RH10 1 DQ Sollcitors Anderson Longmore & Higham, Wisteria House, Market Square. Petworlh, West Sussex, GU28 OAJ Page 1

Bury Manor School Trust Limited (A company limited by guarantee) Directors, report For the year ended 31 August 2024 The Board of Directors present their annual report for the year ended 31 August 2024 under the Companies Act 2006 and the Charilies Act 2011, together with the financial statements for the year, and confinn that the latter comply with the requirements of the Companies Act 2006, the Gompany's Memorandum and Articles of Association and Ihe Charlties Stalement of Recommended Practice {SORP) FRS102. The directors are also trustees of the company for the purposes of company law and its trustees (governers) for the purposes of charity law. The report makes references to both directors and trustees. although they are both the same roles held. These terms are used interchangeably within the report. Bury Manor School Trust Limited (Dorset House School) is a charitable company founded in 1964, charity regislralion number 307035, company registration number 803309, wilh liability of ils members limited to £1 each by gLJarantee. The registered office of Ihe company is 9 Donnington Park. 85 Birdham Road, Chichester, West Sussex, P020 7AJ. A subsidiary company, Bury Manor Barn Limited. Gompany registration number 13490783, was incorporated in July 2021 in order to operate the school's venue hir8 business. This company is 100 % owned by th8 parent charlly and has the same registered office. All net Income is donated to the school In furtherance to our charitable objectives. Objectives and actlvities a. Policies and objectlves The object of the company. in accordance wilh ils Memorandum and Articles of Association, is the education of children up to age 13. In s811ing objectives and planning for activities, the Directors have given due consideratlon to general guidance published by the Charity Commission relats'ng to public benefit. including the guidance 'Public benefit: running a charity {PB2)'. b. Strategles for achleving objectives Dorsel House Is a happy. friendly, caring school for girls and boys, aged between 4 and 13, based on Christl8n principles with a family-Gentred ethos. It is a structured but loving environment wth a fine reputation for givlng the individual the opportunity to experience and explore all areas of the curriculum. The school h8s a rigorous approach to academic achievement whilst maintaining its reputation for sporting, musical and artistic endeavour, Dors8t Hous8 aims lo answer individual educational needs and to inspire puplls wth a desire to learn. These aims are achieved through our slimuSating, varied and balanced curriculum in which independent learning skills are developod and where children are given the confidence to achleve their potenlial. We have adopted Ihe over- arching principle of'Be the Best You Can Be,. We believe that the challenges offered by Dorset House enable our children to embrace the opportunities that lie ahead and will prepare them for a demanding fulure. The key qualities of a Dorset House education are: inspired teaGhing by an enthusiaslic staff. a 'can do, ethos that pervades the School community at all levels. a rich extra-curricular provision, giving opportunitles for every child to find their niche, experience success and develop self-confiden￿. a pastoral care programme that ensures thal every child's social and academic progress is supported. a valued partnership between home and school. Whilst predominately a day schcol, we also offer flexi boarding to pupils in years 5 to 8. Page 2

Bury Manor School Trust Limited <A company limited by guarantee) Dlrectors. report {continued) For the year ended 31 August 2024 Objectlves and activltles (contlnued) c. Objectives for the year The board's main objective continued to be to educate all the school's pupils to at least Ihe same high standard achieved by the school in previous years, so Ih8t they will be fu51y able lo benefil from Iheir chosen senior school for the completion of Iheir education in due course. Our strategy for achieving this is to maintain a high te8cher-. pupil ratio and to tsilor our seNices, as appropriate in aach cas8. to suit the individual child. d. Main actlvities undertaken to further the Company's purposes for the publlc beneflt Princi al activit Dorsel House School's principal aclivity is the provision of a day and boarding school for boys and girls aged 4 to 13. The school roll stood 21133 al the end of Ihe summer term 2024. Public benefit Governors lake their role of providing public benèfit very seriously and consider they have complied wilh their duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. Bursaries We are able to support pupils through our Bursary Scheme. This scheme. which is available on a means-tested basis assessed by the Bursar against Griteria agfeed by Ihe directors, provided support for 25 children in 2023-24 and reduced annual gross fee income by 6.50/0. All applications for an award are Considered by the Eslates and Finance sub-committee. Awards are granted for a maximum period of 1 year and are subject to annual review. The school and Ihe communil Dorset Housc School is an integral part of Ihe local community. employing several staff members from th8 village in both leaching 8nd non-te8ching posts, as well as hosling the annual Village Féte in the school grounds wilhoul charge. Dorset Hous8 regularly worships as a school in the adjacent parish church of Saint John the EvangeSlst, The school provides a space for a local nursery lo use at no charge. The school is licensed as a venue for civll ceremonles and regularly hosts weddings and receptions throughout school holidays. The scliool often supports PGCE student training placements and teachers with Iheir NQT year. Charit work During the year to 31 August 2024 the school raised £6,273 for ch8rity. This included £1,000 for Canine Partners and the RNLI as part of our Year 7 business enterprise project al Arundel Farmers, Market. and £935 for FEAST. an aid charity in Southern India. Smaller sums were spread across several charities including Ihe Royal British Legion, Young Minds, Children in Need, Rod Cross and Comic Relief. The Parents, Association held a number of fundraising events including a Christmas party, a Fesllval 60 event to celebrate the school being on the current site for 60 years, 8nd dads. camping. e. Volunteers From monies raised in previous years, the Parents. Associalion kindly donated £31.000 in August 2024 towards resurfacing of the all-weather pitch. Further fundraising for this work is ongoing. The Parents, Association also contributed towards our annual bonfirelfireworks night and provided funding for science equipment and a mud kitchen for the woods. Page 3

Bury Manor School Trust Limited (A company limited by guaranteel Dlrectors. report (continued) For the year ended 31 August 2024 Strategic report Achievements and performance Financial review The school achieved an unrestrictad fund deficit of £565 in comparison to 8n unrestricted fund surplus of £54,779 in 2022-2023. Th6 school also holds £31,877 of restricted funds (2023.. £935). In 2023-24. we have started with 123 pupils in Reception to Year 8. There are healthy numbers in the Pre-Prep and in Years 4 to 6. Despite the imposition of VAT on school f68s In January 2025, there continues to be considerable interesl from prospeGlive parents. The school has made significanl Investmenls and improvements lo its facilities during recent years including construction of a new Pre-Prep assembly hall and school office and signrficanl refurbishmenl of the medieval barn, kilchenldining areas and the Pre-Prep classrooms. Only limited c8PIt81 expenditure was carried out in 2023-24 including refurbishment of the ArtIDT room, installation of a fire suppression system in the kitchen, replacement of a number of fire doors, and carpeting of the corridors in boarding. The main server was also replaced along with 20 wortistatlons in the IT suite. The school continues lo work to a business plan that provides for a gr0￿h in pupil numbers whllst malntaining the ethos and culture ol the school. b. Review of actlvities erational erformance of the school In 2024 all seventeen Year 8 pupils went to a senior school of their choice. 8 with scholarship awards - to Hurst College, Lanclng College, and Seaford College. This was the third year in whlch most pupils did not sSt Common Entrance examinatlons. In place of thls. a bespoke Y718 curriculum was followed which allowed more flexlbillty and challenge and tha incluslon of leadership and enterprise inilialives while maintainlng th6 highest academiG standards. These resulls indicate that the board's primary objeclive of maintaining high academic standards is belng met. The staff.. pupil ratio remained high so that individual educational, extra-curricular and pastoral needs were mel. The school continues to work to a business plan that provides for a growth in pupil numbers whilst mainlaining the ethos and culture of the school: To ensur8 the m8intenance of high educational standards. Provision of a rich programme of extra-curricular activtties and a happy. caring environment. Fulfilmenl of public benefit requirements. A modest financial surplus was achieved which has enabled re-inveslment in the school premises and facilities. Page 4

Bury Manor School Trust Limited (A company limited by guarantee) Dlrectors. report {continued) For the year ended 31 August 2024 strategic report (continued) Achievements and performance {continued Fundraising activities and income generation Bury Manor School Trust Ltd recognises the vital contribution made by ils supporters. We believe that giving to charity should be a positive experienc8. and to help ensure that Ihis is the case we acknowledge the damaging impact an excessively aggressive approach to fundraising can have on vulnerable people, whether from unreasonably persistent approaGhes being made or undue pressure to give being applied, and groat care Is undertaken to ensure that such practices are not adopted by the Trust. To this end, all fundraising aclivily IS ¢arr(ed oul by our Parent Association DHPA. This group raises money for the school through regular activlties such as quiz nighl, bonfire night. and parent, pupil and community social events. All of Ihese events are voluntary and advertised in a non-intrusiv8 manner. The school does not ulilise the services of any extemal commercial fundraisers. At this point. given Ihat the majority of the school's donations are from pupils, parents, Ihe trustees do nol consider it necessary lo subscribe lo the Fundraising Regulator, The school welcomes f88dback on its fundraislng approach and seeks to mak8 improvements wherever it can. Any complalnls received in respe¢t of our fundraising activilles are taken vary seriously and are acted upon Immediately. We are pleased to r8POrt that during the year no complaints wer8 received in respect of our fundraising acllvily. d. Investment policy and performance The school has no investments other Ihan in its estate. the use of which is maximise(I for the benefit of the school. The letting of the school for marriages and wedding receplions and for summer activities conlinues to be bolh popular and profitable. e. Golng concern After maklng appropriate enqL6lries, the trustees are confident that the School has sufficlent resources to conlinue its activities for the foreseeable fulure. For Ihis reason. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the Accounting Policies. f. Reserves policy Total consolidated funds at 31 August 2024 ware £2,840,88g (2023.. £2,810,502). This Is made up of restiict8d funds tolalling £31,887 (2023.. £935) and unrestricled funds totalling £2,809,002 (2023: £2,809,567). £3,028,808 (2023.. £3,025.6841 was invested in tangible fixed assets for use by the charity. The charity therefore had a deficit of free reserves at 31 Augusl 2024 of £219,806 (2023.. £216,117) mainly represented by a bank loan secured on Ihe charity's freehold property. The bank loan has been substantially reduced in recent years. The governors have determined that their first priority is the creation of an attractive educational and pastor81 environment which is responsive to the needs of parents, children and leachers SLAch thal Ihe school will maintain its strong repulation as a unique small preparalory norlh of the South Downs in West Sussex. It must have a strong marketing focus to grow pupil numbers. Surpluses will be devoted in the short term to reducing debt levels. Only when debt has been reduced. can reserves be built up. Page 5

Bury Manor School Trust Llmited (A company limited by guarantee) Dlrectors. report (contlnued) For the year ended 31 August 2024 Structure, governance and management a. Constitution The company is govemed by its Memorandum and Articles of Association. last amended on 14 November 2000. b. Methods of appointrnent or electlon of Dlrectors The directors, who aré also required under th6 Articles to serve as members of the eompany, are elected at a full dlreclors, meeting on the basis of nominations received from the Chairman or the Head based on eligibility, personal compet8nce. relevant experience and availability. Three directors are drawn from senior teaGhing posts in secondary schools in Sussex (Hurst College. Brighlon College arKJ Lancing College). Directors serve for a term of seven years and are eligible for reelection. Organisational structure and declsion.maklng pollcies The directors meet as a board at least three limes a year to delermine the general policy of Ihe company and review its ovarall management and control for which they are legally responsible. The Estates and Finance sub- committee meets foTmally before each maln meeting and undertakes a detailed review of the budgets, annual reports and accounts. The day-lo-day runnlng of the school is delegated to the Head and the Bursar, supported by th8 Senior Management Team and other members of staff. An Academic subcornmittee, comprising the Head and Governors with firsthand experience of education, gives advice on the school's Curriculum and other academic matters. The Health & Safety subcommiltee. Comprising the Head, the Bursar, slaff representatives and Governors with experience of Health & Safely management, meet termly and ￿port lo the full board. Olher Governors are given specifiG responsibility for Boarding, Safeguarding (including the Single Central Register of Appointments), and the Pre-Prep. d. PollGles adopted for the Induction and tralnlng of Dlrectors New directors are inducted into Ihe workings of Ihe school. and also of the company as a registered charily, including board policy and procedures, at a series of induction meetings with the Head and the Bursar. Directors also attend courses run by the Independent Association of Preparatory Schools (IAPS), the Associalion of Governing Bodies of Independenl Schools IAGBIS) and the Independent Schools Bursars Association IISBA). e. Pay pollcy for key management personnel Salarles for all staff including senior staff are benchmarked against other IAPS Independent schools to allow us to remain an attractive employer in the seGtor. Salaries are reviewed annually and generally an inflationary increase is applied. This is dependent on the financial sucGess of the school and also increases being offered in similar schools. Specific salaries may be adjusted on Ihe basis of annual performance appraisals. Page 6

Bury Manor School Trust Limited {A company limited by guarantee) Directors. roport {contlnued) For the year ended 31 August 2024 StruGture, governance and management (Gontinued) f. Related party relationships Dorset House School is an active member of the Independent Association of Preparatory Schools, the Independenl Schools Bursars Association, and the Association of Goveming Bodies of Independent Schools for the maintenance of preparatory schools, standards generally. We co-operate with as many local charities as we can. to widen public access to the schooling we can provide, to Oplimise the use of our cultural and sporting facilities and to awaken in our pupils an awareness of the social context of the education they receive at th8 school. Dorset House School also benefits from the generosity of a thriving Parents, Association whose continuing support we greatly appreciate and gladly acknowledge. g. Rlsk management The Board continues to keep the school's acb'vities under review wilh regard to the major risks thal may arise. The principal rlsks and uncertalntles facing Ihe school are as follows: External economic factors and the suslainabilil of fee increases The School relies on parents, ability lo pay fees as its main source of income. There is a risk that extemal economic factors reduGe parents, ability to pay fees or result in parents withdrawing pupils due lo fee levels. act of overnment le islalion Changes in government legislation. for example Ihe planned imposition of VAT on independent school fees from 1 January 2025, may impact the School's status and operation. The School must be 8ble lo adapt to such changes practically and efficiently. Re utatlonal risk and com etltlon from nearb schools The continuing success of the School is dependent on conilnuing to altract applicants by malnlaining high academic standards, an extensive range of extra-curricular and sporting activities, and excellent facilities. The School operates In a competltive local market. Risk Mana ement The Board and Senior Management Team ¢onlinue lo keep the School's activities under review, particularly with regard to any major risks that may arise from lime lo time. Internal and external factors thal influence the school performance including Govemance and Management. Competition, Compliance and Systems are reviewed regularly. The School continues to work wilh its exlernal Heallh & Safety advisors carrying out rolling reviews of procedures to ensure compliance wth legislation and thal major risks identified by thls process havo been mitigated lo an acceptable level. The school Health & Safety Committee meet three times a year and reports to the full Governing Body. Plans for future periods Growing pupil numbers in the Pre-Prep and increasing boarding numbers remain a focus. Areas for development are as fo51ows". ContinLted development of the bespoke Y718 curriculum and leadership and enterprise initiatives. Refurbishment of the Car park and drive. Further refurbishment of the boarding accomodation. To continue the improvement of ICT infrastruclure and teaching within the school. Page 7

Bury Manor School Trust Llmitod (A Company limited by guarantee) Directors. r8POrt (contlnued) For the year ended 31 August 2024 ststement of Dlrectors. responsiblllties The Directors (who are also the trustees of the charitable Company for the purposès of charity law) are responsible for preparing the Directors. report including the Strategic report and the financial stalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)- Company law requires the Diréctors to prepare financial statements for each financial year, Under company law, the Directors must not approve the financial statements unless they are satisfied that they give a trijp. and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including Ihelr income and expenditure, for that period. In preparing these financial statements, Ihe Directors are required lo: select suitable accounling policies and then apply them consislently- observe the methods and principles of the Charilies SORP (FRS 102). make judgments and accounting estimates Ihat are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statemenls on lh8 golng concem basis unless it is Inapproprlat8 to presume that the Group will continue in business. The Dlrectors are responsible for keeping adequate accounting records that are sufficienl to show and explain the Group and the Companvs transactions and disclose wilh reasonable accuracy at any tlme the flnanclal posllion of the Group and the Company and enable them lo ensure that Ihe financial stalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe Group and the Company and hence for18king reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of Informatlon to auditor So far as each director at the date of approval of this report is aware: th8re is no relevant audit Informalion of which the charitable group's auditor is unaware, and that Dir8Ctor has taken all the steps that ought to have been taken as a Director in order lo be aware of any relevant audil informalion and lo establish that the charilable group's auditor is aware of that information. Audltor The auditor, Kreston Reeves LLP, has indicated their willingness lo continue in office. The designated Directors will propose a molion reappoinling the audilor at a meeting of the Directors. Small companles speclal provislons The report of the directors has been prepared in accordance with the special provisions of section 415A of th8 Companies Act 2006 relating to small companies. Approved by order of the members of the board of Directors and signed on their behalf by: M J Hlgham Chairman Date.. S.2.IOLg Page 8

Bury Manor School Trust Limited (A company limited by guarantee)

Independent auditor's report to the Members of Bury Manor School Trust Limited

Opinion

We have audited the financial statements of Bury Manor School Trust Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the Year ended 31 August 2024 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Page 9

Bury Manor School Trust Limited (A company limited by guarantee)

Independent auditor's report to the Members of Bury Manor School Trust Limited (continued)

Other information

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

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report including the Strategic report.

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

Responsibilities of Directors

As explained more fully in the Directors' responsibilities statement, the Directors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Page 10

Bury Manor School Trust Limited

(A company limited by guarantee)

Independent auditor's report to the Members of Bury Manor School Trust Limited (continued)

Auditor's responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the charity and in charity and in the sector as a whole, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to child protection and safeguarding, health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) Second Edition (released October 2019), the Companies Act 2006 and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included:

Page 11

Bury Manor School Trust Limited

(A company limited by guarantee)

Independent auditor's report to the Members of Bury Manor School Trust Limited (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Page 12

Bury Manor School Trust Limited

(A company limited by guarantee)

Independent auditor's report to the Members of Bury Manor School Trust Limited (continued)

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Lucy Hammond BSc FCA (Senior statutory auditor)

for and on behalf of Kreston Reeves LLP

Chartered Accountants

Chichester

5 March 2025

Page 13

Bury Manor School Trust Limited (A company limited by guarantee) Consolldated Statement of financial a¢tivities {Incorporating income and expenditure account) For the year ended 31 August 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income fram: Donations and legacies Charilable activities Other trading activities Other Income 46,983 2.261,619 136,545 32,010 35,335 82,318 2,261,619 136,545 32,010 32,416 2,215,428 142,192 29,777 Total Income 2,477,157 35,335 2,512,492 2,419,813 Expenditure on: Raising funds Charitable aclivities 66,902 2,410.300 66,902 2,414,683 67,771 2,306,000 4,383 Total èxpenditure 2,477,202 4,383 2,481,585 2,373,771 Net (expenditure>lincome before taxatlon 145) {520) 30,952 30,907 {520) 46,042 Taxalion 13 Net movement In funds {5651 30,952 30,387 46,042 Reconciliatlon of funds: Tolal funds brought forward Net movemenl in funds 20 2,809,567 (565) 935 30,952 2,810,502 30,387 2, 164, 460 46,042 Total funds Carried forward 2.809.002 31,887 2,840,889 2,810,502 The Consolidaled statement of financial activities includes all gains and1055es recognised in the Year. The notes on pages 20 to 37 form part of these financial statements. Page 14

Bury Manor School Trust Llmited (A Company limited by guarantee) Registered number: 00803309 Consolidated balance sheet As at 31 August 2024 2024 2023 Note Fixed assets Tangible assets 14 3,028.808 3,025,684 3,028,808 3,025.684 Current assets Stocks Debtors Cash at bank and in hand 16 17 1.500 514,888 933,831 1,500 713,896 345,513 1,450,219 1,060,909 Creditors.. amounts falling due wilhln one year 18 (1,047,793) (984,474) Net current assets 402,426 78,435 Total assets less current liabllltles 3.431,234 3,702,119 Creditors.. amounts falling due after more than one year 19 {590,345) (291,617) Total net assets 2,840,889 2,810,502 Charlty funds Restrictad funds Unrestricted funds 20 20 31,887 2,809,002 935 2,809,567 Total funds 2,840,889 2,810,502 Page 15

Bury manor School Trust Limited {A company limited by guarantee) Régistered number: 00803309 Consolidated balance sheet (continued) As at 31 August 2024 The Company was entitled lo exemption from audit under section 477 of the Companies Ad 2006. The members have not requlred the enlity to obtain an audit for the Year in questlon in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 151 of the Charities Act 2011. The Directors acknowledge their responsibilities for complying with the requiremenls of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subjecl to the small companies regime. The financi81 statements were approved and authorised for issue by the Directors and signed on their behalf by: M J Higham BA C Chairman Date.. The notes on pages 20 to 37 form part of these financlal slatements. Paga 16

Bury Manor School Trust Limited (A company limited by guarantee) Registered number." 00803309 Company balance sheet As at 31 August 2024 2024 2023 Note Fixed assets Tangible assets Investments 14 3,028.808 100 3,025,684 too 15 3,028,908 3,025, 784 Current assets Stocks Debtors Cash at bank and in hand 16 1,500 514,788 854,039 1,500 773,896 334,944 17 1,370,327 1,050,340 Creditors: amounts falling due within one year 18 (1,026,233) (979,343) Net Curront assets 344,094 70,997 Total assets less current Ilabllltles 3,373,002 3,096, 781 Credilors.. 8mounls falling due after more than one year 19 {590,345) (291,617) Total net assets 2,782,657 2,805, 164 Charlty funds Restricted funds Unrestricted funds 20 20 31,887 2,750,770 935 2,804,229 Total funds 2,782.657 2,805, 164 Page 17

Bury Manor School Trust Limlted (A company limited by guarantee) Registered number: 00803309 Company balanGe sheet (continued) As at 31 August 2024 The Company's net movement in funds for the Year was £(22,507) (2023 - £43,373J. The Company was entitled lo exemption from audit under sectlon 477 of the Companles Act 2006. The members have not required the entity to obtain an audit for the Year in question in accordance Wlth section 476 of the Companie5 Act 2006. However, an audit is required in accordance with section 151 of Ihe Charities Act 2011. The DireGlors acknowlcdge their responsibilities for complying wilh the requirements of the Act with respect to aGcounting records and preparation of financial stalements. Tha financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The flnancial statements were approved and authorised for issue by the Directors and slgned on their behalf by: M J Higham BA Cert. Chairman Date,. The notes on pages 20 10 37 form part of these finanGial statements. Page 18

Bury Manor School Trust Limited (A company limited by guarantee) Consolidated statement of cash flows For the year ended 31 August 2024 2024 2023 Note Cash flows from operating activitiès Nét cash used in operaling activities 22 670,456 97,396 Cash flows from investing activitles Purchase of langible fixed assets {59,706} (91,557) Net cash used in Investlng actlvities {59,706) {91,557) Cash flows from financing activities Repayments of borrowing {22,432) (22.432) Net cash used in flnanclng actlvities (22,432) (22,4321 Change In cash and cash equivalents In the Year Cash and cash equlvalents at th8 beginning of the Year 588.318 (16,5931 362,106 345,513 Cash and cash equivalents at the end of the Year 23 933,831 345,513 The notes on pages 20 10 37 form part of Ihese financial stalements Page 19

Bury Manor School Trust Limited (A company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 General informatlon Bury Manor School Trust Limited is a Public Benefil Entity, a company limited by guarante8, registered in England and Wales (Company Number: 00803309), and a registered charity (Charity Number.. 307035). The registered office is g Donnington Park. 85 Birdham Road, Chichester, West Sussex, P020 7AJ. The princlpal office is Dorset House School, Bury. Pulborough, West Sussex, RH20 1 PB. All funds are used in furtherance of ils education objectives. The School's activities are not subjeGt to income or corporation tax under Ihe provisions of S478 of the Corporation Tax Act 201 O as the school is a registered charity. The charitable CoMpan￿S Memorandum and Articles af Association are the primary governing documents of the school and Govemors are appoinled in accordance with these. The financial statements have been presented in sterling and rounded to the nearest £1. Accounting policies 2.1 Basls of preparation of flnanclal slatemenls The financial statements have been prepared in accordance with the Charities SORP (FRS 1021 AcGounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Acl 2006. 8ury Manor School Trusl Limited meets lh8 definilion of a public benefil entity under FRS 102, Assets and liabilities are inlllally recognised at historical cosl or transaction valu8 unless olheiwise stated in the relevant accounting policy. The Consolidaled statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial stalemenls of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Group has taken advantage of the exemption allowed under section 408 of the Companies Acl 2006 and has not presented ils own Stalement of financial aGlivities in these financial slalements. 2.2 Going concern Th8 Direclors assess whether the use of going conc8m is appropriale and whether Ih8re are any material unGertainlles relaled to events or conditions thal may cast significant doubt on the ability of the School to continue as a going concern. Having reviewed the funding facilities available to the School together with the expecled ongoing demand for places and the its future projected cash flows, the Directors are confident thal the school has sufficient resources to continue its activities for the foreseeable future. The Directors have considered the level of funds held and the expected level of income and expendilure for a period of twe5ve monlhs from finalisation of these flnancial statements together with the support provided by the bank and have concluded that il is appropriate to continue to adopt the going concern basis in preparing Ihe financial statements as outlined in Ihe Statement of Directors, responsibilities. Page 20

Bury Manor School Trust Limlted (A company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 Accounting policies (continued) 2.3 Income All income is recognised once the Company has enlillement to the income, il is probable that the income will be received and the amount of income receivable can b8 measured reliably. The school provides educational services lo fee-paying students ranging from reception to year 8. Fees receivable are stated after deducting allowances. bursaries and other remissions granted by the school. Fees received in advance of educalion being provided in future years are held as liabilities until either taken into income in the term when used or else refunded. Donations receivable for the general purposes of the charilable company are credited lo unrestricted funds. Donations for purposes restricted by the wishes of the donor are taken lo restrlcted funds. Legacles ar8 recognised on receipt or otherwise If the charilable company has been notlfied of an irnpending dlstributlon, the amounl is known, and the receipt is exp8cled. If the amount is not known, the legacy is treated as a contingenl assel. Other income is recognised In the period in which it is receivable and to the extent the goods have been provided or on completion of the servi￿. 2.4 Expenditurè Expenditure is recognlsed once there is a legal or Gonstruclive obllgation lo transfer economlc benefit lo a third party. it is probable that a Iransfer of economic beneflts will be requlred In settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity, The costs of each activity are made up of the total of direct costs and support costs Involved in undertaking each aclivily. Direct costs allributable lo a single activity are allocated directly lo that activity. Support costs which are not attributable to a single activily are apportioned between those activities on a basis that is consistent with the use of resourGes. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the assel's use. Expenditure on charilable activities is incurred on d1￿CtlY undertaking Ihe activilies which further the Group's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Taxatlon The Company is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of Ihe Finance Act 2010 and therefore it meels the definilion of a charitable company for UK corporation lax purposes. Accordingly. the Company is potentially exempt from taxation in respect of inGome or capital gains received within categories covered by Ch2Pter 3 P8rt 11 of the Corporation T8x Act 2010 or Section 256 of the Taxalion of Chargeable Gains Acl 1992. lo the extenl that such inGome or gains are applied exclusively to charitable purposes. Page 21

Bury Manor School Trust Limited (A company lirnited by guarantee) Notes to the financlal statements For the year ended 31 August 2024 Accounting policies (continued) 2.6 Tanglble fsxed assets and depreclation The schools, freehold land and buildings were professionally revalued by Messrs Guy Leonard and Company al 31 August 1995 al £980.000. This valuation has been adopted as the historical cost. Subsequent building work and improvements costing more than £2.500 are capitalised and carried in the balance sheet at historical cost. All other tangible fixed assets costing more than £1,000 are capitalised and carried in the balance sheet al historical cost. Depreciation is calculated on all assels. other than freehold land. to write down the cost less estimated residual value by reducing balance method over Iheir expected useful lives. Donated assets are ￿pItalISed at a reasonable estimate of their value to the charity. Impalrment reviews ar8 carried out where there Is some indicatlon that the recoverable amount of a funclional asset is below its net book value. Tangible fixed assels are initially recognised at Gosl. After recognition, under the cost model, tangible fixp.d assets are measured at cost less accumulated deprecialion and any accumulated impairmenl losses, All costs incurred to bring a tangible fixed assel into its intended working condition should be Included in the measurement of cosl. Depreclation is charged so as lo allocate Ihe cost of tangible fixed assets less their residual value over th8ir estlmated useful Iiv8s, on a reduclng balance basls. Depreciation is provided on the following bases: OOA per annum Freehold property Fixtures and fittings and motor vehicles including.. Fixlures and fittings Computer equipment Motor vehicles Sports property 100h per annum 25010 per annum 25Vo per annum 50kn per annum 2.7 Investments Fixed asset inveslments are a form of financial instrument and are initially recognised at Iheir Iransaclion cost and subsequenlly moasured at fair value al the BalanGe sheet date, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whelher realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments. in the Consolidated statement of financial activities. Investments in subsidiaries are valued al cost less provision for impaimient. 2.8 stocks Stocks are valued al the lower of cost and net realisable value after making due allowance for obsolate and slow-moving stocks. Cost includes all direGt costs and an appropriate proportion of fixed and variable overheads. 2.9 Debtors Trade and olher debtors are recognised at the settlement amount after any trade discount offered. Prepaymenls are valued at the amount prepaid net of any trade discounts due. Page 22

Bury Manor School Trust Limited {A company Ilmited by guarantee) Notes to the financial statements For the year ended 31 August 2024 Accountlng polScies (continued) 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments wllh a short malurity of Ihree months or less from the date of acquisition or opening of the deposit or similar aGcounl. 2.11 Liabilities and provlsions Liabilities are recognised when there is an obligation al Ihe Balance sheet dale as a result of a past evenl. it is probable that a transfer of economic benefit will be required in settlement, and Ihe amount of the settlemenl can be estimated reliably. Liabilities are recognised at the amount Ihat the Company anticipates it will pay to sÈltl8 the debt or the amount it has received as advanced payments for Ihe goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle th8 obllgallon. Where the effect of the time value of money is material, the provision is based on the presenl value of those amounts, discounted at the pre-tax discount rate Ihat reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost. 2.12 Flnancial instruments The Group only has financial assets and financial Ilabilities of a klnd that qualify as basic financlal Instruments. Basic financial instrumenls are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortlsed cosl using the effeclive interest method. 2.13 Operating leases Rentals p8id under operating leases are charged to the Consolidated statemenl of f inanclal activities on a straight line basis over the lease lenn. 2.14 Penslons The Group operates a defined contribution pension scheme and the penslon charge r8presents the amounts payable by the Group to the fund in respoct of the Year. 2.15 Fund accounting General funds are unreslricted funds which are available for use at the discrelion of the Directors in furtherance of the general objectives of the Group and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which havè been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each r8Stricled fund is set out In the notes to the financial statements. Page 23

Bury Manor School Trust Limited (A company limited by guarantee) Notas to the finan¢lal statements For the year ended 31 August 2024 Critical a¢countlng estimates and areas of judgment Estimates and judgments ara continually evaluated and are bas8d on historical experience and other factors, including expactations of future events that are believ8d to be reasonable under the circumstances. Critical accounling estimates and assumptions: The company makes estimates and assumptions concerning Ihe future. The resulting accounting eslimales and assumptions will. by definition, seldom equal Ihe related actual results. The estimates and assumptions that have a significant risk of causing a malerial adjustment to the carrying amounts of assets and liabilities within thc next financial year are discussed below. Tangible fixed assets The School's tangible fixed assets are staled at their cost less provision for depreciation and impalrment. The school's accounting policy sets out the approach to calGulaling deprecialion for immaterial assets acquired. For material assets such as land and buildings the school delermines at acquisition the reliable estimates for Ihe useful life of the asset and its residual value. These estimates are based upon factors such as the exp8Cted use of the acquired asset and market conditions. At subsequent reporting dates the directors consider whether there are any factors that indicate that there would be a need to reconsider the eslimales used. Critical areas of judgmenl.. Lease commitments - The school has entered inlo lease commitments in respect of plant and 8quipment. The classification of these leas8s as operating leases requir8S the trustees lo consider whether the terms and conditions of each lease are such thal Ihe school has acquired the risks and rewards assoclaled with the ownershlp of the underlying assets. Income from donatlons and legacies UnreslriGted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations Other income 380 46.603 35,335 35,715 46,603 13,741 18,675 46,983 35,335 82,318 32,416 Total 2023 19,030 13,386 32,416 Page 24

Bury Manor School Trust Limited {A company Ilmited by guarantee) Notes to the flnancial ststements For the year ended 31 August 2024 Income from charitable activitles Unrestricted fvnds 2024 Total funds 2024 Total funds 2023 Fees 2.118,763 142,856 2,118,763 142,856 2,072,276 743, 152 Extras Total 2024 2,261.619 2,261,619 2,215,428 Tolal 2023 2,215,428 2,215,428 Income from other trading activities Income from non charitable tradlng aGtlvitie$ Unrestricted funds 2024 Total funds 2024 Tolal funds 2023 S81es 136,545 136,545 142,192 Total 2023 142.192 142, 192 Tolal trading Income of £133,876 (2023: £139.523) has been generated through events hlre in Bury Manor Barn Ltd. Page 25

Bury Manor School Trust Limited (A company limited by guarantee) Notes to the flnancial ststements For the year ended 31 August 2024 Other Income Unrestrictèd funds 2024 Total funds 2024 Total funds 2023 Holiday letlings Other letlings Miscellaneous Income 14.957 13,698 3.355 14,957 13,698 3,355 13,047 13,390 3,340 32,010 32,010 29, 777 Total 2023 29,777 29,777 Expenditure on charltable activltles Unrestricted Restricted funds funds 2024 2024 Total 2024 Total 2023 Charitable aclivities 2,410,300 4,383 2,414,683 2,306,000 To1812023 2,291,250 14,750 2,306,000 Analysis of expendlture by activltles Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Total lunds 2023 Provision of education 2,388,291 26,392 2,414,683 2,306,000 Total 2023 2,283,836 22,164 2,306,000 Page 26

Bury Manor School Trust Limited (A company limited by guarantee) Notes to the financlal statements For the year ended 31 August 2024 Analysls of expenditure by actlvities {continued} Analysis of dlrect costs Total funds 2024 Total funds 2023 Staff costs Inspection fees Recruitment and training Food costs Laundry and cleaning Field and garden expenses Rates and water Insurance Swimming pool mainlenance Light and heat Repairs and renewals Curriculum expenses Repairs to property Motor and travel expenses Subscriptions and donations Cost of activities and exlras Telephone and postage Printlng, slationery and advertlsing Bank charges Miscellaneous expenses Bad debts Computer mainlenance costs Depreciation Bank interest payable Venue hlre 1,639,268 3,706 5,146 96,603 22,262 14,422 27,446 37,687 2,044 57,788 4,806 47,125 33,719 56,053 13,876 101,538 5,335 41,429 3,001 12,982 5,088 59,164 56,582 22,954 18,267 1,518,028 1,808 5,996 93,069 24,072 23,682 25,619 29,861 1,909 82,394 37,431 48,189 35,226 36,228 14,173 100,767 6, 154 39,922 2, 723 tO,940 53,533 55,268 20,126 16,718 Total 2024 2,388,291 2.283,836 During the year ended 31 August 2024, Bury Manor School Trust Limited had £4,383 of restricted expenditure direct costs. In Ihe year ended 31 August 2023 reslricted expenditure direct costs was £14.750. Page 27

Bury Manor School Trust Limited (A company lirnlted by guarantee) Notes to the financial statements For the year ended 31 August 2024 Analysls of éxpenditure by activitles (continued) Analysls of support costs Total funds 2024 Tolal funds 2023 Legal and professional Audit and accountancy 8,853 17,539 7,570 14,594 26,392 22,164 During the year ended 31 August 2024. all support cost 8xpenditure was unrestricted. For the year ended 31 Augusl 2023 all supporl 8xpenditure was unrestricted. 10. Audltor's remuneratlon The auditor's remuneration amounts to an auditor fee of £11,500 (2023- £11,000), and other seNices of £5,816 (2023- £5,780). 11. Staff costs Group 2024 Group 2023 Company 2024 Company 2023 Wages and salaries Social security Gosts Pension costs 1.410,682 106,985 169,388 1,281,056 94,365 190, 896 1,362,895 106,985 169,388 1,232,767 94,365 190,896 1,687,055 1,566,317 1,639,268 1,518,028 The average number of persons employed by the Company during the Year was as follows.. Group 2024 Group 2023 No. Company 2024 Company 2023 Teaching staff Others 28 18 28 18 28 18 28 18 46 46 46 46 Page 28

Bury Manor School Trust Llmited (A Gompany Ilmited by guarantee) Notes to the financial statements For the year ended 31 August 2024 11. Staff costs (continued) The number of employees whose employee benefits (excluding employer penslon costs) exceeded £60,000 was: Group 2024 Group 2023 In the band £60,001- £70,000 In the band £80.001- £90,000 In the band £90,001- £100,000 The school considers ils key management personnel comprise of the Headteacher, Deputy Headleacher, He8d of Pre-Prep, temporary Head of Pre-Prep. Bursar. Registrar and Housemaster. The lotal amount of employee benefits {inclL6ding employer national insurance and pension contributions) received by key management parsonnel for the seNices to the Trust were: £451,655 (2023.. £446,571 ). 12. Dlrectors. remuneratlon and expenses During the year, no Directors received any remuneration or other benefits (2023 - £NIL). Dufing the Year ended 31 August 2024, expenses tolalling £NIL were reimbursed or paid directly lo the Directors (2023 £29 10 l Director). Expenses incurred relate lo travel costs for a school trip. 13. Taxatlon 2024 2023 CorporatSon tax Current tax on net income for the Year 520 Taxation on net income 520 The tax assessed for the Year is the same as {2023 - Ihe same as) the standard rate of corporation tax in the UK of 25/. {2023- 19/0). The differences are explained below: 2024 2023 Nel (expenditure)lincome before tax 30,907 46, 042 Net (expendilure)lincome multiplied by the standard rate of corporation tax in the UK of 25.kn (2023_ 19% Effects of: 7,727 8, 748 Taxable profits adjustment Historic corporation taxation charge in subsidiary {7,727) 520 (8, 748J Total lax charge for the Year 520 Pag8 29

Bury Manor School Trust Limited (A company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 14. Tangible fixed assets Group and Company Freehold Fixtures and property flttings Total Cost or valuation At 1 September 2023 Addltions 2.926,955 964.556 59,706 3,891,511 59,706 At 31 Augusl 2024 2,926,955 1,024,262 3,951,217 Depreclation At 1 September 2023 Charge for the Year 288,210 10,141 577,617 46,441 865,827 56,582 At 31 August 2024 298.351 624,058 922,409 Net book value At 31 August 2024 2,628,604 400,204 3,028,808 Al 31 August 2023 2,638,745 386, 939 3,025,684 Based on indicative valuation the Trustees believe the open market value of freehold land and buildings is substantially in excess of the carrwng value. The insured value of the buildings is £17,390,000 exclusive of VAT as professionally valued in October 2022. Page 30

Bury Manor School Trust Limited (A Gompany Ilmited by guarantee) Notes to the financial statements For the year ended 31 August 2024 15. Flxed asset investments Investmenls in subsldiary companies Company Cost or valuatlon At 1 September 2023 100 At 31 August 2024 100 Net book value At 31 August 2024 100 At 31 August 2023 loo Prlncipal subsldlarles The following was a subsidiary undertaking of the Company- Company Registered office or prln¢lpal Prlnclpal actlvlty number place of buslness Name 8ury Manor Bain Ltd 13490783 9 Donnington Park, 85 Birdham Event hire Road, Chichester, Wesl Sussex, P020 7AJ Class of shares Holding Ordinary 100% The financial results of the subsidiary for the year were: Name Incomo Expenditure Profitl(Loss) I Surplusl {Deflcit) for the year Bury Manor Barn Ltd 139,214 83,651 55,563 Page 31

Bury Manor School Trust Limited (A company Ilmited by guarantee) Notes to the financlal statements For the year ended 31 August 2024 16. Stocks Group 2024 Group 2023 Company 2024 Company 2023 Finished goods and goods for resale 1.500 1,500 1,500 1,500 17. Debtors Group 2024 Group 2023 Company 2024 Company 2023 Trade debtors Other debtors Prepayments and accrued income 495,621 146 691,657 38 495,621 46 691,657 38 22,201 19,121 22,201 19,121 514,888 713,896 514,788 713,896 18. Credltors: Amounts falllng due within one year Group 2024 Group 2023 Company 2024 Company 2023 Bank loans Trade creditors Arnounls owed to group undertakings other taxation and social security Other crèditors Accruals and deferred income 22,433 33,505 22,433 44,732 22,433 17,745 22,433 30,029 11,772 26,171 86,125 802,813 20,095 87,625 884,135 26.171 86.625 804.513 20,095 83,625 882,335 1,047,793 984,474 1,026,233 979,343 Group 2024 Group 2023 Company 2024 Company 2023 Deferred income at 1 September 2023 Resources deferred during the year Amounts released from previous persods 718,086 1,169,613 (718,0861 730,444 718,086 718.086 1,169,613 (730,444) {718,086) 730,444 718,086 (730,444) Deferred income at 31 August 2024 1,169,613 718,086 1,169,613 718,086 Deferred income at the year end represents fees paid in advance. This includes amounts fa51ing due within one year and amounls due after more than one year. Page 32

Bury Manor School Trust Limited IA company limited by guarantee) Notes to the financial ststements For the year ended 31 August 2024 19. Credltors: Amounts falling due after more than one year Group 2024 Group 2023 Company 2024 Company 2023 88nk loans Accruals and deferred income 269,185 321,160 291,617 269,185 321,160 291,617 590,345 291,617 590,345 291,617 The Trusl has a bank loan wilh £336,482 repayable in termly inslalments of £7.477, exclusive of interest, which is payable at 2.45Vo over National Westminster Bank PIC base rate. The loan is payablo by Ihree Instalments per annum for 15 years. The bank loan is secured by a first legal charge on all lh8 Trust's freehold property at Bury Manor, Bury, Pulborough, and a fixed and floating charge on all the Trust's oth8r assets, both present and futtjre. Th8 loan represents 1 O0A of the net book value of Ihe freehold property at 31 August 2024 (2023: 110/0). 20. Statement of funds Statement of funds - current year Balance al 1 September 2023 Balance at 31 August 2024 Income Expendlture Unrestricted funds UnrestriGled accumulated fund Revaluation reserve 2.097,646 711,921 2,477,157 (2,477,722> 2,097,081 711,921 2,809,567 2,477,157 (2,477,722) 2.809,002 Restrlcted funds PA donations FEAST donations 35,335 {3.448) 1935) 31,887 935 935 35,335 {4,383) 31,887 Total of funds 2,810,502 2,512.492 {2,482,105) 2,840,889 Page 33

Bury Manor School Trust Lsmited (A company Ilmited by guarantee) Notes to the financial Statements For the yèar ended 31 August 2024 20. Statement of funds (continued) PA Donations These donations are made from the Parents Associatlon to go towards improvements to Iha school and the annual firework display. FEAST Donations FEAST is a charity that the school raises money for throughout Ihe year. The money is used to provide education to children in India to open the dooTh¥ay to a better future. Statement of funds - prior year Balance al I September 2022 Balance al 31 Augusl 2023 Tr8nsfers in/oul Incom8 Expénditure Unrestricted funds Unrestricted accumulated fund Revalualion reserve 2,042.867 711,921 2,406,427 (2,359,021J 7,373 2,097,646 711,921 2, 754. 788 2,406,427 (2,359.021) 7,373 2,809,567 Restricted funds PA donations FEAST donatlons 7,634 2.038 13.386 (13,710) (1,040) (T,310) (63) 935 9,672 13,386 (14, 750) (7,373) 935 Total of funds 2. 764,460 2.419,813 (2,373, 771) 2,810,502 21. Analysls of net assets between funds Analysls of net assets between funds - current period Unrestrlcted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 3.028,808 1.418.332 {1,047,793} (590,345) 3,028,808 1.450,219 {1,047.793) (590,345) 31,887 Total 2,809.002 31,887 2,840.889 Page 34

Bury Manor Sch¢)ol Trust Limited {A company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 Analysis of net assets between funds {contlnued) 21. Analysis of net assets between funds - prior period Unrestricled funds 2023 Restricted funds 2023 Tolal funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more Ihan one year 3,025,684 1,059,974 (984,474) (291,617) 3,025,684 t,060,909 {984,474) (291,617) 935 2,809, 567 935 2,810,502 Total 22. Reconcillatlon of net movement In funds to n8t cash flow from operating activities Group 2024 Gmup 2023 Net income for th8 period {8s per Stalement of Financial Activities) 30,387 46,042 Adjustments for: Depreciation charges Decreasel{increase) in debtors Increase in creditors 56,582 199,008 384,479 55,268 (77,401) 73,487 Net cash provided by operating activltles 670,456 97,396 23. Analysls of Gash and cash oquivalents Group 2024 Group 2023 Cash in hand 933,831 345,513 Total cash and cash equSvalents 933.831 345,513 Page 35

Bury Manor School Trust Limited {A Company limited by guarantee) Notes to the financial statements For the year ended 31 August 2024 24. Analysis of changes in net debt At1 September At31 2023 Cash flows August 2024 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 345,513 (22,4331 (291,617) 588,318 933,831 (22,4331 {269,185) 22,432 31,463 610,750 642,213 25. Pension commltments The Trust opera18s a defined contribution pension scheme. The assets of the scheme are held separately from those of the Trust in an independently administered fund. The pension cost charge represents conlributlons payable by the Trust to the fund. During the year the lotal penslon cost was £169.388 {2023: £190.896) At the balance shoet dale £Nil {2023 £Nil) was payable lo the fund and Is included in creditors, 26. Operating lease commitments At 31 August 2024 the Group and the Company had commitmenls to make future minimum lease payments under non<ancellable opcr8ting leases as follows.. Group 2024 Group 2023 Company 2024 Company 2023 Othèr: Not later than 1 year Later than 1 year and not later than 5 years 63,092 109,337 34, 128 67,639 63,092 109,337 34.128 67,639 172,429 101,767 172,429 701,767 The following lease payments and changes in lease paymenls have been recognised in the Stalemenl of financial activities.. Group 2024 Group 2023 Company 2024 Company 2023 Operating lease rentals 71,659 50, 725 71,659 50, 725 Pago 36

Bury Manor School Trust Llmited (A company limitèd by guarantee) Notes to the financial statements For the year ended 31 August 2024 27. Constitution The Trust Is limited by guaranlee and has no share capital. Every member of the Trust undertakes to contribute lo the assets of the Trust in the event of it being wound up while he is a m8mber or within one year after he ￿aSeS to b8 a member, SUGh amounl as may be required not exceeding £1. 28. Related party transactions As is customary with Ihe position at the school, the Bursar and Housemaster receive bursaries in respect of their children allending the school. Bursaries are received and approved annually by the trustees. Skern Lod e Limited - for which A P Williamson is a director During the year, 18 pupils went on a 18adership trip to Skem Lodge and paid £5.753 (2023: total cost £7,369). There were no amounts outstanding at 31 August 2024 (2023'.Nil). This transaction was carrled out under normal business temis. Page 37