2025-08-31-accounts

Eastbourne College (Incorporated)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Registered Charity No 307071 Company Registration No 115408

EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Contents	Page
President, Vice-Presidents, Governors, Officers and Advisors	2
Annual Report of the Governors	4
Strategic Report	8
Statement of Governors’ Responsibilities	24
Independent Auditor’s Report	25
Consolidated Statement of Financial Activities	29
Consolidated and Charity Balance Sheets	30
Consolidated Statement of Cash Flows	31
Notes to the Financial Statements	33-54

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EASTBOURNE COLLEGE (INCORPORATED) PRESIDENT, VICE-PRESIDENTS, GOVERNORS, OFFICERS AND ADVISORS

President His Grace The Duke of Devonshire KCVO CBE DL Vice-Presidents The Earl of Burlington His Excellency Nasser Judeh BSc Field Marshal The Lord Richards of Herstmonceux GCB CBE DSO DL Mr Philip Broadley MA MSc FCA Governors Mrs Nicola Eckert BA PGCE ( Chair ) Mr John Maidens BSc ACA ( Vice-Chair ) Mr Charles Burrows MA Mr Jeremy Compton BSc FRSC Miss Louise Davidson BA PGCE Mr Richard Davidson-Houston BA Mr Freddie Dennis BA MA Mr Nick Elliott BA Mr James Fok MEng MSc MBA FCA Dr Peter Gombera BSc MSc MA PhD FRICS MAPM CENG Mrs Victoria Henley BA Mr Matthew Kitson MIOD MBIFM Dr Ian Long AKC BA PGCE MA PhD FRGS FRSA Mr Darren Meek LLB FCA Mrs Helen Rowe BA PGCE DipRAM Dr Robert Wicks MBBS Associate Governor Miss Lucy E Ritson BA FGA DGA Headmasters The Hon Tom Lawson MA ( Eastbourne College ) Mr Tom Gregory BA ( St Andrew’s Prep ) Chief Operating Officer & Clerk to the Governors Mrs Abbey Gough BA FCA Company Secretary Mr Chris Bentley-Mawer ACMA Registered Charity No. 307071 Company Registration No. 115408

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EASTBOURNE COLLEGE (INCORPORATED) PRESIDENT, VICE-PRESIDENTS, GOVERNORS, OFFICERS AND ADVISORS

Registered Office	Marlborough House
	Old Wish Road
	Eastbourne
	East Sussex
	BN21 4JY
Auditors	Crowe U.K. LLP
	55 Ludgate Hill
	London
	EC4M 7JW
Bankers	Lloyds Bank Plc
	104 Terminus Road
	Eastbourne
	East Sussex
	BN21 2AH
	Natwest Plc
	96 Terminus Road
	Eastbourne
	East Sussex
	BN21 3AA
Investment Advisors	Charles Stanley & Co Limited
	25 Luke Street
	London
	EC2A 4AR
Insurance Brokers	Marsh Limited
	Capital House
	1-5 Perrymount Road
	Haywards Heath
	West Sussex
	RH16 3SY
Solicitors	Moore Barlow LLP
	The Oriel
	Sydenham Road
	Guildford
	Surrey
	GU1 3SR

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

The Board of Governors (the ‘Board’) presents its Annual Report for the year ended 31 August 2025 under the Charities Act 2011 and the Companies Act 2006 (including the Board of Governors’ Report and Strategic Report under the 2006 Act) together with the audited accounts for the year and confirms that the latter complies with the requirements of the Acts and the Charities Statement of Recommended Practice (SORP) 2019.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Eastbourne College (Incorporated) is constituted as a company limited by guarantee and is registered with the Charity Commission. It is governed by a Memorandum and Articles of Association dating from incorporation on 22 April 1911 and last amended on 7 March 2024. The Charity consists of two schools, Eastbourne College (the ‘College’) and St Andrew’s Prep (the ‘School’), together known as the ‘schools’, with a wholly-owned trading subsidiary, Eastbourne College Enterprises Limited. Legal and administrative information is set out on pages 2 and 3 and forms part of this report.

Governing body

The Governors serve without remuneration both as directors and trustees of the charitable company. The names of all Governors who served during the year and up to the date of this report are listed on page 2. Throughout this report they are collectively referred to as Governors or the Board. As a Board they are accountable to the members of the Company who are its guarantors; responsible for the overall strategy of the Charity; and they have statutory responsibility for key aspects of compliance including safeguarding and health & safety. In order to fulfil these responsibilities, they delegate the day-to-day management of the school to the Headmasters and the Chief Operating Officer as the key management personnel overseeing educational, pastoral and administrative functions in consultation with other senior staff. The day-to-day administration is undertaken within the policies and procedures approved by the Governors. The Board normally meets four times a year; once each term plus a further annual meeting focusing on the Charity’s strategic challenges and opportunities, as well as trends in education in both the maintained and independent sectors. Additional ad-hoc meetings are held from time to time, usually with a sub-set of Governors and senior management, where matters arise out of cycle requiring governor input.

The Board is aware of The Charity Governance Code, which sets out the principles and recommended practice for good governance within the sector. The Governors are satisfied that the Charity applies the principles of the Code within its current governance arrangements except in two respects - the current Board comprises 16 Governors, which is greater than the recommended maximum of 12; and four of the Governors have served for longer than nine years. Having given due regard to the code, the Governors consider the current range of expertise on the Board to be necessary given the size and complexity of the Charity, with the schools operating across two sites providing education to approximately 950 children aged from 9 months to 18 years, and the Governors’ statutory responsibilities for matters such as safeguarding, risk management, employment law, health and safety, finance, and education. Those who have served beyond nine years are considered to provide a wealth of experience and valued continuity that is believed to outweigh any risk of a loss of objectivity or independence, particularly as collectively they comprise a quarter of the Board. The Board introduced a new position last year, appointing a recent leaver from the College as an Associate Governor to serve alongside the Board. This role does not have any legal standing, in that they are neither a Charity Trustee, nor a Company Director, but they have a particular focus on pupil voice across the two schools and attend the Education and Pastoral Committee meetings in

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

addition to full Board meetings. The Board is satisfied that it has adopted the principles of the Code, proportionately to the Charity’s circumstances, and routinely challenges itself on areas for improvement. An external review of Board effectiveness is commissioned from time to time, with the last review conducted in 2022, which pleasingly reported that ‘governance within the Charity is strong’.

Recruitment, induction and training of Governors

Governors are appointed at a meeting of the Board following nominations received from the Nominations and Governance Committee, which regularly considers the range of skills, experience and diversity required by the Board and the Board’s performance. The Nominations and Governance Committee reviews personal competence, specialist skills and availability before nominating for appointment. Persons appointed to the Board normally serve for an initial term of three years, after which they are eligible for reappointment at the annual general meeting. Governors normally serve a maximum of three consecutive full terms of office (a total of 9 years) however they may be re-elected thereafter on an annual basis in accordance with the provisions of the Articles.

New Governors are inducted into the workings of the Charity, including the Board’s policies and procedures, by the issue of appropriate documents, a personal briefing from the Chief Operating Officer and enrolment on externally led briefing days on governance if required. They also visit the College and the School for a day’s familiarisation and receive appropriate training on child protection and safeguarding amongst other training as required. For additional training on relevant subjects, Governors are encouraged to attend events run by the Association of Governing Bodies of Independent Schools (AGBIS).

Organisational management

The Board’s policy is implemented via the Headmasters and the Chief Operating Officer. Each school operates with its own senior management team, led by the relevant Headmaster. The Headmaster of the School reports into the Headmaster at the College. The Chief Operating Officer manages all support staff, many of whom work cross Charity, supporting both schools. Governance is conducted with the assistance of appropriate committees, with membership as at the date of this report set out below. Additional responsibilities held by Governors are shown in brackets.

Education & Pastoral Committee	Chair	Freddie Dennis
	Members	Louise Davidson
		Ian Long(Boarding Governor)
		Helen Rowe(Boarding Governor)
		Robert Wicks(Safeguarding Governor)
		Lucy Ritson
Finance & Property Committee	Chair	Charles Burrows
	Members	James Fok
		Peter Gombera
		Matthew Kitson

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

Investment Committee	Chair	Charles Burrows
	Members	James Fok
		Peter Gombera
Fundraising & Development	Chair	John Maidens
Committee	Members	Jeremy Compton(Health & Safety Governor)
		Nick Elliott(SEND Governor)
		Darren Meek
Nominations & Governance	Chair	Darren Meek
Committee	Members	Vicky Henley
		Richard Davidson-Houston
Remuneration Committee	Chair	Nicky Eckert
	Members	Chairs of committees

The Headmasters, Second Master at the College and Deputy Head of the School, together with the Chief Operating Officer, attend all termly meetings of the Board and relevant committees. The remuneration of key management personnel is set by the Remuneration Committee and approved by the full Board each year based on benchmarking, performance and target attainment. Remuneration for all other staff within the Charity is set by the Board each year as part of the budget setting process with the policy objective of providing appropriate incentives to encourage enhanced performance, recruitment and retention, and of rewarding fairly and responsibly contributions to the Charity’s success.

The Headmasters oversee the recruitment of all educational staff and the Chief Operating Officer the recruitment of support staff. The Governors oversee the recruitment of the Headmasters and the Chief Operating Officer.

The Charity encourages all employees to be fully involved in the affairs of both schools with weekly briefings for both teaching and support staff held during term time. Staff liaison committees also exist for both teaching and support staff, which meet regularly to ensure efficient and constructive communication at all levels. There is Governor representation on the teaching staff liaison committees, which meet termly at each school, with the intention of furthering good relationships between the Governors, senior management and staff through the sharing of ideas and information.

Equality, diversity and inclusion

Robust policies exist to fulfil the Charity’s commitment to develop diversity of staffing across all disciplines through equal opportunity policies, training and practical action. The Charity holds that every person has the same rights and is entitled to the same opportunities, regardless of age, gender, pregnancy or maternity, disability, race, religion or belief, cultural background, linguistic background, special educational need, sexual orientation, gender reassignment or academic or sporting (or any other) ability.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

The Governors expect everyone involved throughout the Charity to:

1. respect and promote equal opportunities for all people

2. encourage harmony and understanding in society

3. recognise and oppose all forms of prejudice and discrimination

4. remove both outward and hidden discrimination

5. enable differences to become positive and enriching attributes

6. develop each person’s skills to the highest possible level

7. promote an environment where all can share equally in the opportunities offered

8. help pupils to learn acceptance and tolerance

9. enable pupils to communicate confidently without fear or prejudice

10. encourage pupils to accept responsibility for their behaviour and show they can contribute positively to society

11. further tolerance and harmony between different cultural traditions

12. encourage respect for other people, paying particular regard to the protected characteristics set out in the 2010 Equality Act.

The Charity is committed to providing equal opportunities in employment and to avoiding unlawful discrimination in employment and against its customers be they parents, visitors, suppliers, contractors or members of the public. The Charity encourages diversity in staff recruitment at all levels and seeks to advertise jobs across a variety of platforms and process applications in such a way as to remove any risk of unconscious bias.

Group structure and relationships

The Charity has one wholly-owned, non-charitable subsidiary, Eastbourne College Enterprises Limited, the activities of which are to provide bussing services, sports and letting facilities and school shop facilities to the schools, generating an alternative income stream to support the Charity’s core objectives. Further information and details of the subsidiary’s trading performance are set out on page 54.

The Charity actively supports promotion of the highest standards in the independent schools sector through networking with other major schools and through membership of various associations which support the sector, including the ISC, the Boarding Schools’ Association (BSA); the Association of Governing Bodies of Independent Schools (AGBIS); and the Independent Schools’ Bursars Association (ISBA). The Headmaster of the College is a member of the Headmasters’ and Headmistresses’ Conference (HMC). The Headmaster of the School is a member of the Independent Association of Prep Schools (IAPS).

The Charity has developed links with a wide range of charities and organisations, both local and national, in its efforts to optimise the educational use of its sporting and cultural facilities and to awaken in its pupils an awareness of the social context of the all-round education that is provided at both schools. The Charity continues to support the local community where possible and put its facilities to good use as referenced within the public benefit section below. The Charity also benefits from the generosity of the Eastbournian Society, a thriving network of Old Eastbournians, Old Androvians, Old Aschamians, Friends of St Andrew’s Prep, Eastbourne College Parent Connect, current and former parents and staff, and other friends and supporters of the College, whose close support is greatly appreciated and gladly acknowledged.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

PUBLIC BENEFIT

The Governors have given due consideration to the Charity Commission’s published guidance on public benefit and are satisfied that the Charity’s objectives, strategy, future plans and activities as referenced throughout this report fall within the charitable purpose of ‘the advancement of education’ as required by the Charities Act 2011.

The Charity’s charitable objectives are ‘to carry on and conduct schools for the education of persons of nursery and school age.’ These objectives benefit the public when pursued in the context of formal education in an organisation where all surplus funds are re-invested in education. The Charity’s principal activity is the provision of education to children from the ages of 9 months to 18 years. Fees are set at a level consistent with the aim of providing a high-quality independent education to its pupils while ensuring the financial viability of the Charity for future generations. Our two schools pride themselves on providing strong academic tuition and the development of wider artistic, humane, social and sporting skills in all pupils such that each pupil can build self-confidence, mental and physical wellbeing.

The two schools are contributors to the wider community, offering employment locally and supporting education and providing facilities for the benefit of local children attending maintained schools and their teachers. The Charity is committed to continuing and improving the provision of direct and indirect public benefit, in accordance with its objects, not least as the founding member of the Coastal Schools Partnership (CSP), which includes schools from Seaford to Bexhill and inland to Hailsham. The activities undertaken and the success of this programme are included in the ‘Outward Facing’ section of the strategic report on page 13.

Our two schools welcome pupils from all backgrounds with entry procedures intended to identify those applicants who will benefit from the education provided irrespective of socioeconomic background, gender, ethnicity, race, religion, sexuality or disability. Means-tested fee assistance, to the extent that resources permit, is available to support those unable to pay the full fees at either school. Further information on the support provided during the year is included within the Financial Review.

STRATEGIC REPORT

Objectives and activities

The objects under the Articles of Association are ‘to carry on and conduct schools for the education of persons of nursery and school age; and to provide education of such type and in such manner as may from time to time be expedient for other persons’ .

The principal activity undertaken to achieve this objective is the provision of education in Eastbourne to children from the ages of 9 months to 18 years across the two schools.

The current strategic plan is split into three core strategic pillars: sustainable finances , education for life , and outward facing . The changes brought about by the new government have inevitably required a nimble and flexible approach to enacting our strategic targets, however, the Governors are pleased with progress during the year. The Board were particularly delighted that both the College and the School were awarded a ‘significant strength’ during their respective ISI inspections in the Michaelmas term.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

Achievements and performance

Significant strengths awarded to both schools during their respective ISI inspections

The School was awarded a significant strength in promoting and supporting pupils’ mental health and emotional well-being and the College was awarded a significant strength for the aesthetic curriculum as embedded in the departments of art, dance, drama, music, design technology, photography, ceramics and the wider creative life of the College.

“Leaders are ambitious in the methods they use to promote the physical, mental and emotional wellbeing of pupils”

“Age-appropriate methods for pupils to report any worries are thoughtfully planned so that ever pupils who may be usually quiet, are heard.”

“This support has a very position impact on pupils’ self-esteem and self-confidence.”

St Andrew’s Prep Inspection Report Dec 2024

“The aesthetic and creative areas are embedded in school life with a commitment, knowledge and enthusiasm demonstrated among pupils and teachers. The very broad provision in this area is carefully and effectively designed so that pupils of all abilities and interests can access and benefit from it.”

Eastbourne College Inspection Report Nov 2024

Awards

Our two schools have once again been recognised during the year through a number of prestigious awards. Awards for the School include: shortlisting in the Independent School of the Year Awards for Prep School of the Year ; finalist in the Education Choices Awards 2025 for opportunities in Art and Music ; and being awarded the prestigious Gold EAL Quality Mark , making the School the first boarding school with a multilingual population to achieve this recognition. This achievement highlights the School’s commitment to inclusivity with 21 languages spoken by our pupils and a dedicated team focussed on supporting each child’s language journey.

The College were Highly Commended in the Prepared for Life category of the prestigious Muddy Stilettos Schools Awards 2025 , in association with Debrett’s Education. This national accolade recognises the College’s pioneering Futures Programme, which places skills development at the heart of sixth form life – preparing pupils for academic success and the demands and complexities of life beyond school. The College was also delighted to be recognised by TalkEducation in the top 250 schools and in the Tatler 2025 Schools Guide .

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

On the sporting front, the Governors were delighted that both the College and the School were once again named in the Cricketer Schools Guide recognising the College in the Top 100 Senior Schools and the School in the Top 50 Prep Schools. With equal opportunities for both boys and girls, the Governors are delighted to see cricket flourishing across both schools.

Other awards that the Governors are particularly proud of include the Platinum Artsmark , held by very few schools, which was awarded by the Arts Council for embedding cultural and artistic life in the school and outstanding work in creative and performing arts; and the Wellbeing Award for Schools , awarded by Optimus Education in partnership with the National Children’s Bureau. The Award provides formal recognition that the schools have met very high standards of provision for emotional wellbeing and mental health.

The Governors are proud to have received these public accolades, which reflect the enthusiasm and commitment that the staff and pupils bring to everything they do and are testament to diversity of opportunity provided at the two schools.

Performance against strategic pillars

Sustainable finances

One of the key elements of this strategic pillar is to deliver full schools, a target which will become increasingly difficult to meet in light of the changes brought about by the new government. Pupil numbers for the year under review were slightly down year on year, consistent with trends seen in the wider sector, owing to the government’s decision to charge VAT on school fees. Pupil numbers at the College averaged 621 (2024: 652) with a further 256 (2024: 281) at the School and 76 (2024: 67) in the nursery. The ratio of boarding pupils at the College was marginally down at 43.3% (2024: 44.8%) albeit boarding numbers at the School remain below target.

The Governors are committed, in so far as its resources allow, to continuing to support those pupils for whom an education within the Charity would otherwise be unaffordable but who would undoubtedly benefit from what our two schools have to offer. Efforts continue to build an endowment to support the provision of means-tested bursaries with the target of raising the endowment to £30m to fund the equivalent of 40 fully-funded means-tested bursary places at any one time. The Charity held its first ever Giving Day in March 2025, which generated additional donations in support of this goal.

To achieve sustainable finances, it is imperative that revenue and expenditure are well controlled. The process around awarding bursaries and financial awards is rigorous, with the services of Bursary Administration Limited employed to ensure funds are awarded to those who are most in need. As part of the Charity’s strategic response to the prevailing headwinds the decision was taken to introduce a ‘dual qualification’ requirement for fee remission with effect from September 2025. This means that a pupil must both qualify as a scholar and be in need of financial support through the means-tested process in order to

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

be eligible for financial support. This decision was taken to ensure that the limited funds available to provide financial support are directed to the most deserving candidates.

Staffing remains the Charity’s single largest source of expenditure and while much work has already been undertaken in previous years on unifying and optimising the staffing body cross Charity, further efficiencies have been made during the year to reflect anticipated pupil numbers from September 2025. The impact of new tax policies has increased the affordability challenge for parents necessitating some strategic changes to drive further financial efficiencies. Changes largely took effect from September 2025 and include the introduction of a flexi boarding tariff at the College for pupils wishing to board three nights per week (‘Flexi-3’), and an earlier finish to the school day for Day pupils at 6pm, supported by one evening bus run at the end of the day. Day pupils who wish to routinely stay beyond 6pm are permitted to do so by joining one of the five boarding houses as a ‘Day+’ pupil. The senior executive, endorsed by Governors, have carefully identified areas where savings could be made without diminishing the educational quality of what the schools offer.

The final strand of the sustainable finances pillar is sustained development, with a target to make the campuses sustainably fit for the future. This is a challenge with the age of the estate, but the Charity has a rolling 10-year estates plan which includes an appropriate maintenance plan to preserve and improve quality of plant, together with plans to develop certain areas of the campus, including a programme to refurbish the boarding houses and introduce more efficient sustainable technology where possible. Notable projects during the year include the complete refurbishment of Pennell House common room.

Education for life

The principle behind ‘education for life’ is that the schools’ values and pastoral care are designed to nurture young people on a journey through both schools and into later life supported by the Eastbournian Society.

Academic quality

The academic year 2024-25 was marked by distinction across every discipline. Pupils earned national prizes, Oxbridge offers and competitive scholarships, while also contributing to public debate and even curriculum reform. The College maintained its academic performance across key metrics at both A-level and GCSE.

At A-level, almost one in five pupils achieved a clean sweep of A or A grades with 42% of entries awarded either an A or A compared to 28.2% nationally and 31.2% regionally. At GCSE over a third of grades awarded were equivalent to an A*. The overall pass rate for both A-levels and GCSEs was above 99%, consistent with previous years.

There were 143 university applications during the year, which included some pupils from previous years, with 82% securing a place at their first choice. The majority of those going on to UK universities were placed at Russell Group universities.

A-level results 42% Grade A/A 74% Grade A - B GCSE results 35% Grade 8 or 9 52% Grades 7 - 9

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

For younger children, there has been a focus on reading for pleasure to help develop the overall level of English across the school and children in years 5 to 8 have started writing reflective journals. There are scheduled reading sessions in the morning, with additional EAL and dyslexia friendly books available in the library for children to access. Study Skills have been introduced to children in Years 5 to 8 to help them build skills to better manage revision and exam preparation. The intention is for this to provide children with a set of transferable and life-long skills, linked to the PSHE curriculum and the need for children to understand themselves better.

Pastoral and Spiritual

The Schools continue to demonstrate a strong, proactive approach to pupil welfare, with notable successes in mental health education, peer support initiatives and behaviour management. The Governors were delighted to have this recognised as a significant strength as part of the School’s ISI inspection during the year.

Pupil voice continues to permeate the schools through surveys and committees, ensuring that all pupils, including those with quieter voices, are heard. This important aspect of the culture at both schools contributes significantly to the rich tapestry of wellbeing support. Wellbeing is now embedded within the curriculum and strengthened through inclusive activities, outdoor learning, and robust peer-support programmes. Understanding and provision for pupils’ mental health are well integrated, and there is growing awareness of, and support for, neurodivergent pupils.

Overall, Governors are pleased to see that pupils are well-supported, increasingly resilient and engaged, with staff working collaboratively to maintain the highest standards of care and wellbeing.

Co-curricular

One of the targets for the Charity is to ensure high levels of participation and equality of experience for all. The Governors are particularly pleased with the progress that has been achieved in increasing crosscharity activities and cross-charity staffing within the co-curricular space.

The schools continue to champion the ‘sport for all’ ethos despite fixture constraints, supported by interhouse events and flexible scheduling. Pupils can choose from over 70 activities with opportunities in art, drama, cognitive activities and music, complementing the wide range of sports offered across the two schools. Performing Arts continue to thrive, with numerous productions throughout the year and the launch of the cross-charity choir from September 2025. Service and cognitive activities are expanding, with new opportunities in debating, astronomy, and the Arts Award programme. The School’s observatory is now operational with pupil sessions commencing in 2025-26. The Governors are delighted with the levels of participation and proud of the pupils’ achievements with both schools enjoying a highly successful end to the sporting year with standout cricket, tennis, athletics and swimming achievements. Notable successes - - can be found within the highlight’s booklet 2025 at https://www.eastbourne college.co.uk/about us/highlights-booklet-2025

A further highlight of the year was the appointment of Old Eastbournian General The Lord Richards of Herstmonceux to the honorary rank of Field Marshal – the highest in the British Army. A former Chief of

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

Defence Staff, Lord Richards credited his time at Eastbourne College and in the CCF as having “ a formative role in shaping the values and leadership principles that have guided me throughout my career .”

Outward facing

Partnership and public benefit remain core to our charitable activities with 2024 marking the tenth anniversary of the Coastal Schools Partnership ‘CSP’. The Board is incredibly proud of the College’s role in the ‘CSP’, which aims to develop projects and ideas that excite, inspire and offer creative opportunity. It provides a wonderful vehicle for the development of projects across the town and beyond, achieving far more together than any school could individually. The CSP, which comprises 12 schools and colleges, continues to thrive and provide measurable benefit to many pupils in the maintained sector. The success of Roy’s Maths Club, in which Year 12 pupils from the College help local Year 11 CSP pupils improve their grade in maths GCSE, has been built on with the introduction of Roy’s MFL club to help prepare Year 10 pupils at St Catherine’s College for their French GCSE. A CSP Literacy Club has also been introduced, which sees Year 11 pupils from the College working with Year 8 pupils from Eastbourne Academy to improve literacy skills. Further details on the Charity’s outreach including through the Coastal Schools Partnership can be found at https://coastalschoolspartnership.org as well as within this report and - - on the College’s website at https://www.eastbourne college.co.uk/about us/community/partnerships/

The Governors are delighted to see the Charity’s facilities being accessed by the wider community. They are particularly pleased with the transition of swimming from the School’s swimming pool to the College swimming pool from September 2025, following the closure of the School’s swimming pool after more than 50 years of service. The consolidation of swimming at the College, with its state-of-the-art facilities, provides a superior experience and supports the Charity’s sustainability agenda. The College pool is now running at near full capacity with eight local primary schools, plus St Andrew’s, and local swimming clubs regularly making use of the swimming pool. The dance studio and sports hall are also well utilised at weekends between use by the pupils and members of the local community.

The Charity was delighted to once again share its facilities with the Lawn Tennis Association in June 2025 and provide the ball crew for the Rothesay International Eastbourne Tennis Tournament at Devonshire Park. Governors are delighted to see the P150 development being used by the wider community.

Stakeholder engagement

The Governors, as directors of the company, have a duty under section 172 of the Companies Act 2006 to act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:

• a. the likely consequences of any decision in the long term

• b. the interests of the company’s employees

• c. the need to foster the company’s business relationships with suppliers, customers and others

• d. the impact of the company’s operations on the community and the environment

• e. the desirability of the company maintaining its reputation

• f. the need to act fairly as between members of the company

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

The Governors consider that they have fulfilled their duties in accordance with section 172(1) of the U.K. Companies Act 2006 and have acted in a way in which is most likely to promote the success of the Charity for the benefit of its stakeholders as a whole in the following ways:

Role of Governors

The duties and responsibilities of Governors both as Charity trustees and company directors are clearly set out and communicated as part of the Governor appointment process. An appropriate committee structure is in place to support decision-making by the Board with strategic matters and compliance routinely discussed to ensure that the Charity remains viable and that decisions are taken in the best interests of beneficiaries, both current and future.

Business relationships with key stakeholders

The Governors work closely with key stakeholders to understand their views, which help to shape Board discussions and decision-making, and are key to the long-term success of the Charity. Key stakeholders include pupils and parents (current, prospective and former), employees, the local community, suppliers, finance providers and regulatory bodies.

Pupils and parents

The Board includes some Governors who are parents and who provide additional insight and perspective. Governors visit the schools regularly and attend a number of key school events each year, including Speech Day at both schools, providing opportunities to meet with staff, pupils and parents. Work continues on improving parent engagement and capturing pupil voice as areas of focus within the new strategic plan. Pupil voice is recognised as being important with a variety of forums available for current pupils crosscharity to share ideas and concerns. Parent engagement continues to be strong at the School with the Friends of St Andrew’s, and Eastbourne College Parent Connect ‘ECPC’ was launched ahead of Giving Day with parent representatives established in each of the houses providing a mechanism for parent voice. The Foundation Office continues to work with alumni across both schools arranging a wide range of activities allowing former pupils and parents to continue to engage with the Charity.

Employees

The Governors understand that the Charity’s success is heavily contingent on the commitment and performance of its staff and, in order to maintain a current understanding of any issues and to assess morale, Governors attend termly Staff Liaison Committee meetings and report any issues to the wider Board for consideration. The Governors aim to provide employees with information on matters of concern to them as employees and to consult employees or their representatives on a regular basis, so that the view of employees can be taken into account in making decisions which are likely to affect their interests.

The local community

The Charity continues to work with the local community and CSP enabling wider access to the Charity’s facilities. Pupils are encouraged to actively support the local community through initiatives such as the St Andrew’s Prep Community Award and CSP initiatives, designed to combine personal development with a

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

strong sense of community through developing pupils’ sense of responsibility for their school environment and for society as a whole. Both schools engage with members of the local community routinely on matters of mutual interest or concern.

Suppliers

The Charity engages with key suppliers regularly to review the level of service provided and ensure strong and sustainable business relationships are fostered for the mutual benefit of both parties. Pupils and staff are given the opportunity to provide feedback on core suppliers, including catering and uniform, which is useful in improving the offering and supporting long-term successful relationships.

Finance providers and advisory bodies

The Governors are grateful for the ongoing support from the Charity’s bankers and other advisers, as well as advice from the many advisory bodies who support the Independent Education sector. Communication with these parties is both important and hugely beneficial given the challenges facing the sector. Governors and senior management within the Charity regularly attend sessions provided by ISBA, AGBIS, ISC, HMC and IAPS which help to inform decision making and support the Charity in remaining compliant with new and forthcoming legislation, regulation and guidance.

Streamlined Energy and Carbon Reporting

The Charity continues to place importance on environmental matters and remains committed to improving its sustainability and reducing its carbon footprint.

The School’s efforts have been recognised through the Eco-Schools Green Flag Award, which they received with Distinction during the year. The School were praised for, amongst other things, their transformation of the Boat Garden in just 10 months showcasing the School’s determination to create a thriving outdoor learning space. Pupils developed gardening skills, learned about sustainable techniques, and nurtured a love of nature.

In terms of reducing the Charity’s carbon footprint, work continues on the programme of repair and renewal for older buildings, introducing more energy efficient technologies where possible, together with the continued education of staff and pupils regarding reducing consumption wherever possible through changing behaviours. It is pleasing to see a reduction in total emissions of natural gas and electricity, driven by a reduction in consumption. This reduction will be driven in part by fluctuating weather, reliability of the CHP unit in the Winn building, but also an element of changing behaviours. Transportation emissions increased during the year directly in relation to the increased usage of the fleet for home to school transport. The decision to move to one evening bus run from September should help to reduce this. The closure of the School’s swimming pool from September 2025 should also help to reduce scope 1 emissions. Principal energy efficiency actions taken during the year include 11 boiler replacements with more energy efficient units; insulation added to roof areas; further LED lighting upgrades and installation of PIR controls as part of the continuing programme of LED lighting replacements; and installation of secondary glazing and replacement of existing double glazing. Energy usage and carbon neutrality remain key topics for continued consideration by the Board.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

Energy consumption

The following table reflects usage across both schools split by emission source. The carbon footprint is measured in metric tonnes of carbon dioxide equivalent (tCO2e) and includes emissions from natural gas, purchased electricity, transmission and distribution losses, fleet, waste, water and paper procurement.

Source	Scope	Unit	1 September 2024 to 31 August 2025	1 September 2024 to 31 August 2025	1 September 2023 to 31 August 2024	1 September 2023 to 31 August 2024
			Amount	**tCO2e **	Amount	**tCO2e **
BUILDING
Natural Gas	1	kWh	5,714,972	1,045.5	6,438,381	1,177.6
Electricity	2	kWh	1,771,021	331.2	1,937,141	401.1
Transmission & Distribution losses	3			32.7		35.2
TRAVEL
Transportation - fleet	1	kWh	554,353	134.4	528,771	125.7
WASTE
Recycled	3	Tonnes	206	0.3	221	0.8
Energyfrom waste	3	Tonnes	59	1.1	68	2.5
Composting	3	Tonnes	56	0.5	68	0.6
WATER
Water supply	3	Tonnes	23,912	4.3	26,934	4.4
Water treatment	3	Tonnes	22,477	3.9	25,318	4.8
PROCUREMENT
Paper - Primarycontent	3	Tonnes	8	10.7	8	9.7
Associated Greenhouse gas emissions (tCO2e)				1,564.6		1,762.4
Intensity ratio: tCO2e per member of (FTE) staff and pupil				1.21		1.39

Associated greenhouse gases have been calculated using the GHG Protocol Corporate Accounting and Reporting Standard, which categorises greenhouse gas emissions into three scopes:

Scope 1 covers direct emissions from owned or controlled sources

Scope 2 covers indirect emissions from the generation of purchased energy

Scope 3 covers other indirect emissions related to the value chain of an organisation.

The intensity ratio has been calculated using full time equivalent staff numbers plus average pupil numbers across the year. The primary emitters of carbon are gas and electricity consumption used for operational buildings.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW

Income

Income from tuition fees continues to be the principal funding source for the Charity. Gross school fees receivable in the year amounted to £28,722k (2024: £29,418k), the decrease resulting from a small reduction in pupil numbers together with the introduction of VAT on school fees from January 2025. After taking account of all fee remissions and the amount of awards paid for by restricted funds, total net fee income for the year was £24,076k (2024: £24,538k).

Ancillary and non-ancillary trading income have fallen year on year to £2,789k (2024: £2,997k), largely due to a reduction in lettings income. Despite efforts to maximise use of the Charity’s facilities outside of term time, there has been a reduction in demand, reflecting the financial challenges that are being experienced in our hirers’ respective markets.

Investment income has pleasingly generated a higher return in the year with £334k of investment income received in the year (2024: £273k) in addition to bank interest of £445k (2024: £4k). The increase in bank interest earned reflects the higher interest rates available together with a more aggressive approach to investing surplus funds when available even for short durations.

Voluntary income in the form of legacies, donations and grants continues to provide a welcome source of additional income for the Charity with £468k recognised during the year (2024: £418k).

Expenditure

Total expenditure year on year has increased by 1% to £28,038k (2024: £27,747k). This increase is well below inflation, despite the loss of business rates relief from April 2025 and increases in National Insurance Contributions and the National Living Wage, reflecting efforts made to contain costs wherever possible. The change in tax status of independent education from January 2025 has also contributed to keeping the increase to a minimum as the Charity is now able to partially recover VAT incurred on purchases, which was previously irrecoverable. The Board is delighted that because of robust financial management the Charity has achieved a surplus before investment gains and losses.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

Investment gains and losses

The figure reported in the Statement of Financial Activities is considerably greater than that of the prior year, in large part owing to the decision to rent a number of the Charity’s accommodation plots on the open market with a view to generating additional income. The plots, having been renovated, are now treated as investment properties for accounting purposes, generating additional investment income.

Bursary funding

The Charity operates a means-tested bursary scheme remitting up to 100% of fees for able young people who would not otherwise be able to attend the two schools. In the year to 31 August 2025 a total of 140 pupils (2024: 151) across the two schools benefited from help with their fees through means-tested bursaries totalling £2,059k (2024: £2,028k). The current year figure includes two Professor Soddy scholarships, supporting two sixth form pupils who transitioned from the maintained sector. These scholarships are awarded for academic excellence. Fully funded places also continue to be supported during the year for two Ukrainian refugees at the College. The Charity continues to support pupils as part of the Royal

140 pupils in receipt of bursaries in the year 15 fully funded places

National Children’s Springboard Foundation scheme with three pupils being supported at the College. The Royal National Children’s Springboard Foundation scheme is a national charity whose objects are to allow young people from impoverished backgrounds to attend independent boarding schools on a fully subsidised basis.

Operating surplus

The accounts include the results of the Charity’s wholly owned subsidiary, Eastbourne College Enterprises Limited (‘ECEL’). The principal activities of ECEL continue to comprise the operation of a bussing service for day pupils on routes to surrounding areas, letting College facilities and running the College’s school shop. ECEL recorded a profit before tax of £34k for the year ended 31 August 2025 (2024: £15k).

The Charity made an overall surplus for the year before gains on investments of £74k (2024: £483k). At an operational level the Charity made an overall surplus of £1,789k (2023: £2,122k). This represents 6.2% of gross fee income (2024: 7.2%) against a target of at least 5%. The target reflects the minimum level of surplus considered necessary to maintain and reinvest in the Charity over the long term. The Board reviews and monitors operational earnings as set out in the table and is pleased that the Charity has achieved its target level this year despite the financial challenges brought about by the introduction of VAT and increase in National Insurance contributions. This level of operational surplus is

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

comfortably above that required by the bank covenant and it is pleasing that the covenant has been met without relying on investment income or donations.

Long-term borrowings

On 29 September 2017 the Charity borrowed a total of £10m from Lloyds Bank Plc, secured by a debenture over the Charity’s assets comprising two loans for £5m each for a period of 25 years. The first loan has a fixed rate of 4% for a period of 10 years, the second a fixed rate of 4.6% for a period of 15 years. Beyond 15 years the interest rate reverts to a floating rate. The amount of the Charity’s debt and its terms remain under constant review by the Board to ensure that the Charity’s borrowing remains prudent and that its servicing does not strain cash flow.

Fundraising performance

The Charity has a long-term target of building its endowment and restricted funds to £30m to support bursary funding. The Eastbournian Society (‘ES’) and Development Office, together with the wider school community, raise funds for bursaries and the development of the schools’ facilities. The Charity raises funds for bursaries in a number of ways, including running ticketed events and a programme of legacy giving, through the Devonshire Society. During the year, the Charity hosted its first ever Giving Day, raising £337k towards bursaries.

Total donations recognised in the year amounted to £468k (2024: £418k), which included £399k (2024: £382k) towards bursaries. During the year the Development Office supported 17 pupils (2024: 10) who received substantial fee assistance through awards that are funded using the income from previous donations, together with continuing support from charities, trusts and individuals. Generous benefaction from alumni, parents, staff and other friends of the College has been at the heart of the school's success over many years. The ES continues to grow into a worldwide network, which allows the alumni, current parents and prospective parents to gather for events in different parts of the world. This network proves to be an effective means of marketing and recruitment for the school, as well as providing a global community to support the Charity with fundraising.

The Board is very grateful to all those who support the Charity’s charitable objects and endeavours and is particularly grateful to members of the Devonshire Society for their continuing commitment to support the Charity by way of legacies and bequests.

The Charity is committed to best practice in relation to all fundraising activities, which are carried out by the Eastbournian Society and Development Office. The Charity engaged a third-party organisation to support with the Giving Day. No formal complaints have been received during the current or previous year. The Charity is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice to ensure fundraising is legal, open, honest and respectful. The Director of Development is a member of IDPE, the Institute of Development Professionals in Education, and members of the team have undertaken appropriate training during the year. Face-to-face meetings with donors and potential donors are only conducted with the prior consent of the individual. Unreasonably persistent behaviours by fundraisers or undue pressure on a person to give money or other property is neither tolerated nor encouraged by operating guidelines.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

The Charity’s reserves

The Board has adopted the format of accounts prescribed by the Charities SORP 2019, which stipulates that funds are placed within four generic groups:

Endowed Funds	These comprise both permanently endowed funds as well as expendable endowments. Permanently endowed funds are treated as capital and only the income can be used either for the general purposes of the Charity or according to the specific wishes of the donors, whereas an expendable endowment allows for the capital to be used in certain circumstances specified in the terms of the endowment document
Restricted Funds	These have limitations on the use of both capital and income, according to the wishes of the donors
Unrestricted Funds	These can be used at the discretion of the Board
Designated Funds	These form part of the Unrestricted Funds that the Board has allocated to a specificpurpose

The Charity needs to have sufficient reserves and capacity to borrow to mitigate the operational risk of an unexpected revenue shortfall. The Charity’s annual surpluses from its operations are used to grow the General Fund. The Fund is available to develop and maintain the Charity’s plant and equipment used for educational purposes and to provide fee assistance to those unable to afford the full fees. The Board intends to continue using the General Fund for these purposes. It actively seeks donations and legacies to grow its funds over the long term.

The Finance and Property Committee reviews the Charity’s reserves policy and forecast levels of reserves regularly and reports to the Board. The majority of the Charity’s incoming resources arise through charging school fees in respect of the pupils it educates so its sources of income are well diversified. The Board recognises the importance of being in a position to fund the Charity’s operations out of operating income. The Charity is not dependent on third party grants or donations to fund its operations.

Free reserves

In common with other charities that have substantial fixed assets in use, the Charity has nil free reserves. This position was expected as a result of the considerable investment in construction of the Nugee and Winn Buildings. The project was partly funded by two £5m loans, which are repayable over the next 18 years. Operating cash flows are expected to be positive over the coming years, allowing the loans to be repaid and the Charity’s reserves to increase.

The Charity accounts for its land and buildings, including residential property other than that designated as investment property, at depreciated historic cost, with much of the estate having been owned for many decades. The current market value of

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

the Charity’s estate is considerably higher than its carrying value shown in the accounts. If necessary, the Charity could sell some of its residential property to generate liquidity although it has no current plans to do so. The Board expects to operate without free reserves for the foreseeable future, but it considers the current level of reserves, substantially represented by fixed assets, taken together with the long-term loan, to be adequate to enable the Charity to continue its operations.

Investment Policy and objectives

The Board’s investment policy is to seek a minimum return of 3% in excess of the underlying rate of inflation on the Charity’s investments so as to preserve their capital while providing an income to support the Charity’s activities. The policy is reviewed annually by the Board. Investment performance is managed by the Investment Committee with regard to market conditions and performance of relevant indices. The Governors require that, amongst other factors, Environmental, Social and Governance (ESG) factors are taken into account in the choice of investments. The mandate requires that the investment manager utilise an appropriate provider to screen and monitor ESG scores, where available, for the investments that are held within the portfolios, in particular avoiding investments that could potentially embarrass the Charity.

The Charity’s portfolio benefited from a gain on investments for the year of £305k (2024: gain of £934k). Investment income for the year was up on last year at £334k (2024: £273k) delivering a combined return of 5.9% (2024: 12.8%) against a target of inflation +3.5%. The Committee is currently satisfied with the longer-term performance of the portfolio, particularly considering the volatility experienced within the markets over recent years.

The investments held in Restricted Funds and Expendable Endowments provide income to be applied according to the wishes of donors. The income from the investments of the non-Expendable Endowment Funds is applied to the charitable activity of the Charity as the Board decides.

Going Concern

The Board has assessed the ability of the Charity to continue as a going concern and has considered several factors when forming its conclusion as to whether the use of the going concern basis is appropriate when preparing these financial statements. This has included the revised budget for 2025/26 and forecast for 2026/27, cash flow forecast to 31 December 2026 and a consideration of the key risks.

The Board recognises the Charity’s dependence on fees and lettings income to fund operations and is mindful of the reduced pupil roll owing to affordability issues compounded by the introduction of VAT on school fees. The Board has modelled a further potential reduction in pupil numbers over the coming years and have assessed what adjustments could be made to the operating model and infrastructure, both physical and human, over time to ensure continued financial viability, while ensuring that the schools maintain their educational excellence. The scenarios also consider the terms and conditions of the existing bank facilities. The Charity has a strong relationship with the bank which recognises the strong asset base supporting the Charity’s activities that provides additional financial resilience if required.

The Board is satisfied that the Charity has sufficient resources to fund its ongoing operations and to service the long-term debt. Accordingly, the Board is satisfied that there are no material uncertainties surrounding the Charity’s ability to continue as a going concern and the accounts have been prepared on that basis.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

Plans for future periods

With VAT now embedded within the sector and further clarity over likely pupil roll moving forwards, the Board are turning their attention to Vision 2027, which will form the new strategic plan from September 2027. Much of the 2023-2028 strategic plan remains valid but the financial backdrop has fundamentally shifted under the Labour government, and the Board is fully aware that the full effect of the new tax policies has yet to be felt. The Board implemented some significant changes during the current financial year to ensure that the Charity’s provision across the two schools remains competitive while keeping fee increases to a minimum. Efforts will continue to further strengthen links and unity between the two schools, maximising the opportunities for new and exciting ways of utilising the resources at the Charity’s disposal to further improve the experience for all. Equally efforts will continue to further strengthen links with alumni, other supporters of the Charity and our local community with the target of friend-raising and fundraising, recognising that the challenges with affordability for parents will only increase.

RISK MANAGEMENT

The Board is responsible for the management of risks faced by the Charity. Detailed consideration of risks is delegated to appropriate committees, as directed by the Finance and Property Committee. Risks are identified, assessed and controls established throughout the year. A formal review of the risk management process is undertaken on an annual basis. The key controls used by the Charity include:

• formal agendas for all committee and Board activity

• detailed terms of reference for all committees

• comprehensive strategic planning, budgeting and management accounting

• established organisational structures and lines of reporting

• formal written policies

• clear authorisation and approval levels

• safeguarding procedures as required by law for the protection of the vulnerable

• annual consideration of the risk register.

Through the risk management processes, the Board is satisfied that the major risks to which the Charity is exposed have been reviewed and that systems have been established in order to manage those risks. It is recognised, however, that systems can provide only reasonable, but not absolute, assurance that major risks have been adequately managed.

The key specific risks for the foreseeable future, identified through this process, together with mitigation plans comprise:

Risk

Management

Operational and financial impact of political and macro-economic changes threatening viability of the Charity

• In response to the loss of charitable business rates relief and the introduction of VAT, organisational and operational changes are being made to reduce the financial impact • Best practice continues to be shared within the sector and advice sought through advisory bodies to ensure compliance with new legislation • The Charity continues to demonstrate the public benefit that the schools deliver as outlined in the report

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

	• Robust financial controls in place to respond and adapt to the changing situation and provide financial flexibility • Best value sought for all contracts • The Governors monitor the budget and cost base for both schools, as well as seek to diversify income streams with a focus on affordability and ensuring best use of resources • The Eastbournian Society and Development Office continue to raise funds to support bursary and scholarship places for pupils who otherwise would be unable to attend • Admissions pipeline closely monitored as consolidation continues within the sector • Open and collaborative communication with staff to support retention and minimise risk of strike action.
Reputational risk owing to poor performance in any aspect of the business, increased competition from other independent schools, or non- compliance with legislation or regulatory guidelines, impacting income streams and/or the Charity’s ability to attract and retain pupils	• The Governors and senior management teams take their compliance responsibilities very seriously and ensure that all staff receive appropriate training and are kept up to date with key legislation including safeguarding and child protection • Staff are trained in Safer Recruitment and the Single Central Register is monitored and reviewed regularly by members of the SMT and the safeguarding governor. Outsourced services such as catering are held to the same high standards as those employed by the Charity • Pastoral care, academic and co-curricular provision, together with academic results, are routinely reviewed and monitored against the 5-year Strategic Plan supported by staff appraisals and benchmarking against peers • Continued work on furthering alignment of expectations and provision across the two schools and admissions processes continually reviewed to better capture pupils’ learning needs • Budget in estates plan for strategic improvements/interventions • Contracts with external suppliers are regularly reviewed to ensure performance and compliance standards are met. Where appropriate, contracts are put out to tender • Health and safety risks, ranging from risks to the Charity’s infrastructure such as fire or flood to personal risks, are minimised through appropriate planning and risk assessments as well as ensuring the Charity has adequate insurance cover.
Risk of cyber attack	• Cyber insurance and Cyber Incident Response Plan • Regular training provided to all staff regarding cyber awareness • Penetration testing undertaken and external review performed • Two factor authentication used across the Charity to further strengthen suite of systems inplace.
Labour market pressures and impact on staff morale	• Regular benchmarking of salaries and conditions of service to ensure competitive offering to support both retention and recruitment • Non-financial benefits of working for the Charity to be more widely publicised • Wellbeing group, Wellbeing Policy and regular gatherings with staff • Exit interviews to identify trends • Recruitment incentives.

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EASTBOURNE COLLEGE (INCORPORATED) ANNUAL REPORT OF THE GOVERNORS YEAR ENDED 31 AUGUST 2025

STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors (who are also directors for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the Governors to prepare financial statements for each financial year. Under company law, the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Governors are required to

• select suitable accounting policies and apply them consistently

• observe the methods and principles in the Charities’ SORP

• make judgements and estimates that are reasonable and prudent

• state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and

• prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charitable company will continue in business.

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the Charity’s constitution. They are also responsible for safeguarding the assets of the Charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Insofar as each of the Governors of the Charity at the date of approval of this Report is aware, there is no relevant audit information (information needed by the Charity’s auditor in connection with preparing the audit report) of which the Charity’s auditor is unaware. Each Governor has taken all of the steps that they should have taken as a Governor in order to make themselves aware of any relevant audit information and to establish that the Charity’s auditor is aware of that information.

AUDITORS

Crowe U.K. LLP has expressed its willingness to be reappointed as statutory auditor.

The Annual Report of the Governors was approved by the Governing Body of Eastbourne College (Incorporated) on 5 December 2025, including, in their capacity as company directors, approving the Directors’ and Strategic Reports contained therein, and signed on its behalf by

Nicky Eckert

Chair of the Board of Governors

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INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF EASTBOURNE COLLEGE (INCORPORATED)

Independent Auditor’s Report to the Members of Eastbourne College (Incorporated)

Opinion

We have audited the financial statements of Eastbourne College (Incorporated) (‘the charitable company’) and its subsidiary (‘the group’) for the year ended 31 August 2025 which comprise the Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets, Consolidated Statement of Cash Flows and notes to the financial statements, including 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:

• give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 August 2025 and of the group’s income and receipts of endowments and expenditure, for the year then ended;

• • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

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 UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's 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 charitable company's or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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

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INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF EASTBOURNE COLLEGE (INCORPORATED)

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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.

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

• adequate and proper accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (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 trustees 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 trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF EASTBOURNE COLLEGE (INCORPORATED)

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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation, employment legislation and general data protection legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance and Property Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and

27

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF EASTBOURNE COLLEGE (INCORPORATED)

performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Jayne Rowe Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London

Date: 11 December 2025

28

EASTBOURNE COLLEGE (INCORPORATED) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

(Including Income and Expenditure account) Notes Income and endowments from Charitable activities School fees receivable 3 Ancillary trading income 4 Other trading activities Non-ancillary trading income 5 Other activities 5 Investments Investment income 6 Bank and other interest 7 Voluntary sources Legacies, donations and grants 8 Total incoming resources Expenditure on raising funds Non-ancillary trading 9 Financing costs 10 Investment management Fundraising & development Total expenditure on raising funds Charitable activities Education and grant-making 9 Total expenditure Net incoming/(outgoing) funds from operations before transfers and investment losses Gains on investments (incl property) 14 Net income for the year Transfers between funds 22 Net movement in funds for the year Fund balances brought forward at 1 September 2024 Fund balances carried forward at 31 August 2025	Unrestricted Funds £’000 24,076 1,574 1,205 10 198 443 38	Restricted Funds £’000 - - - - 48 2 430	Endowed Funds £’000 - - - - 88 - -	2025 Total £’000 24,076 1,574 1,205 10 334 445 468	2024 Total £’000 24,538 1,517 1,472 8 273 4 418
	27,544	480	88	28,112	28,230
	(717) (610) (2) (327)	- - (7) -	- - (38) -	(717) (610) (47) (327)	(772) (446) (44) (373)
	(1,656) (26,020)	(7) (177)	(38) (140)	(1,701) (26,337)	(1,635) (26,112)
	(27,676)	(184)	(178)	(28,038)	(27,747)
	(132) 2,680	296 44	(90) 253	74 2,977	483 934
	2,548 -	340 -	163 -	3,051 -	1,417 -
	2,548 38,917	340 2,414	163 8,542	3,051 49,873	1,417 48,456
	41,465	2,754	8,705	52,924	49,873

The notes on pages 33 to 54 form part of these financial statements.

29

EASTBOURNE COLLEGE (INCORPORATED) CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 31 AUGUST 2025

Note FIXED ASSETS Tangible assets 12 Investments 14 CURRENT ASSETS Stock Debtors 15 Capital Good Scheme VAT recoverable 16 Cash and deposits CURRENT LIABILITIES Creditors payable within one year 17 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES LONG-TERM LIABILITIES Creditors payable after one year 18 NET ASSETS REPRESENTED BY ENDOWED FUNDS Permanent Endowments 22 Expendable Endowments 22 RESTRICTED FUNDS 22 UNRESTRICTED FUNDS General Reserve 22 Designated 22	Group 2025 £’000 50,186 14,058	2024 £’000 53,691 10,296	Charity 2025 £’000 48,698 **14,592 **	2024 £’000 52,086 10,797
	64,244	63,987	63,290	62,883 1 1,503 - 14,470 15,974 (14,771) 1,203 64,086 (15,364) 48,722 2,274 6,268 2,414 37,374 _392 _
	3 4,524 1,239 11,057	29 1,403 - 14,615	2 4,523 1,239 10,990
	16,823 (16,237)	16,047 (14,797)	16,754 (16,323)
	586	1,250	431
	64,830 (11,906)	65,237 (15,364)	63,721 (11,906)
	52,924	49,873	51,815
	2,346 6,359 2,754 41,056 409	2,274 6,268 2,414 38,525 _392 _	2,346 6,359 2,754 39,947 409
	52,924	49,873	51,815	48,722

The net result for the financial year dealt with in the financial statements of the parent Charity was a surplus of £3,092k (2024: £1,458k surplus).

These financial statements were approved by the Board of Governors on 5 December 2025 and were signed on its behalf by

Nicola Eckert

Chair

Charles Burrows MA

Chairman Finance and Property Committee

The notes on pages 33 to 54 form part of these financial statements. Company Registration Number 115408

30

EASTBOURNE COLLEGE (INCORPORATED) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Note Net cash (outflow)/inflow from operations Net cash provided by operating activities (i) Cash flows from investing activities Payments for tangible fixed assets Proceeds on sale of tangible fixed assets Additions to securities investments portfolio Withdrawals from securities investments portfolio Investment income and bank interest received Net cash from/(used in) investing activities Cash flows from financing activities Repayment of bank loan Bank interest and arrangement fees paid Net cash (used) by financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of period Cash and cash equivalents at the end of the reporting period (ii)	2025 2024 £’000 £’000 £’000 £’000 (3,313) 10,090 (140) (391) 4 8 (4) (4) 47 54 778 277 685 (56) (320) (307) (610) (446) (930) (753) (3,558) 9,281 14,615 5,334 11,057 14,615	2025 2024 £’000 £’000 £’000 £’000 (3,313) 10,090 (140) (391) 4 8 (4) (4) 47 54 778 277 685 (56) (320) (307) (610) (446) (930) (753) (3,558) 9,281 14,615 5,334 11,057 14,615	2025 2024 £’000 £’000 £’000 £’000 (3,313) 10,090 (140) (391) 4 8 (4) (4) 47 54 778 277 685 (56) (320) (307) (610) (446) (930) (753) (3,558) 9,281 14,615 5,334 11,057 14,615	2024 £’000 10,090
		(3,558) 14,615		9,281 5,334
		11,057		14,615

The notes on pages 33 to 54 form part of these financial statements.

31

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

(i) Reconciliation of net income to net cash flow from operating activities

Net incoming resources Elimination of non-operating cash flows - Investment income - Finance costs Depreciation charge Loss/(Profit) on sale/disposal of assets (Increase) in debtors Decrease in stocks Increase/(Decrease) in creditors (excluding fees in advance scheme and deposit) (Decrease)/Increase in Fees in Advance scheme creditors (Decrease) in parents’ deposits Net cash (outflow)/inflow from operations (ii) Analysis of cash and cash equivalents Cash at bank Deposits (iii) Analysis of changes in net debt Cash and cash equivalents Cash at bank Borrowings Debt due within one year Debt due after one year Net debt	Net incoming resources Elimination of non-operating cash flows - Investment income - Finance costs Depreciation charge Loss/(Profit) on sale/disposal of assets (Increase) in debtors Decrease in stocks Increase/(Decrease) in creditors (excluding fees in advance scheme and deposit) (Decrease)/Increase in Fees in Advance scheme creditors (Decrease) in parents’ deposits Net cash (outflow)/inflow from operations (ii) Analysis of cash and cash equivalents Cash at bank Deposits (iii) Analysis of changes in net debt Cash and cash equivalents Cash at bank Borrowings Debt due within one year Debt due after one year Net debt	£’000 (778) 610 1,573 1 (3,121) 26 3,268 (4,919) (47)	£’000 (778) 610 1,573 1 (3,121) 26 3,268 (4,919) (47)	2025 £’000 74 (3,387)	£’000 (277) 445 1,611 (183) (712) 5 (521) 9,045 (172)		2024 £’000 483 9,607 10,090 2024 £’000 3,615 11,000 14,615 At 31 August 2025 £’000 11,057 (334) (7,695)
		At 1 Sept. 2024 £’000 14,615 (320) (8,029)
				(3,313)
				2025 £’000 5,057 6,000
				11,057
				Cash Flows £’000 (3,558) 320 -
		(8,349)		320	-		(8,029)
		6,266		(3,238)	-		3,028

32

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. CHARITY INFORMATION

Eastbourne College (Incorporated) is a charitable company limited by guarantee incorporated in England (charity number 307071, company number 115408) and is a public benefit entity operating from its registered office, Marlborough House, Old Wish Road, Eastbourne BN21 4JY.

2. ACCOUNTING POLICIES

The financial statements have been prepared on the historical cost basis of accounting, as modified by the revaluation of investments and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Statement of Recommended Practice applicable to charities and the accounting policies set out below.

The financial statements consolidate, on a line-by-line basis, the Endowment Funds and Restricted and Unrestricted Funds of Eastbourne College (Incorporated) together with the financial statements of its wholly owned subsidiary Eastbourne College Enterprises Limited, Company No. 3061136, prepared for the same financial period. No separate SoFA has been presented for the Charity alone, as permitted by Section 408 of the Companies Act 2006. The Charity has taken advantage of the exemption available to a qualifying entity in FRS 102 from the requirement to present a Charity only Cash Flow Statement with the consolidated financial statements.

Having reviewed the funding facilities available to the Charity, together with the revised budget for 2025/26, the forecast for 2026/27 and the Charity’s future projected cash flows, the Governors have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. As discussed on page 22 of the Annual Report, the Governors have given due consideration of the key risks, including modelling the ongoing impact following the introduction of VAT, the loss of business rates relief, increased National Insurance contributions and a reduction in pupil numbers. The Governors are comfortable that the Charity has sufficient resources to fund its ongoing operations and to service the long-term debt. Accordingly, the Board is satisfied that there are no material uncertainties surrounding the Charity’s ability to continue as a going concern and the accounts have been prepared on that basis.

Critical accounting judgements and key sources of estimation uncertainty

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

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

In the view of the Governors, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

33

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the Charity’s financial statements.

2.1 Fees and similar earned income

Fees receivable and charges for services and use of the premises, less any allowances, scholarships, bursaries granted by the Charity against those fees, but including contributions received from Restricted Funds, are accounted for in the period in which the services are provided. All amounts stated are net of VAT.

Amounts received under the Charity’s Fees in Advance Scheme not yet utilised to settle school fees are recorded as deferred income and allocated as current liabilities where the education will be provided within 12 months from the reporting date and as long-term liabilities where the education will be provided in subsequent years.

2.2 Investment income

Dividend income is accounted for at the date on which the College has entitlement to the dividends. Interest on bank balances and fixed interest securities is accounted for in the period in which the interest is earned. Rental income on investment properties is recognised in the period to which the rent relates.

2.3 Donations, legacies, grants and other voluntary incoming resources

Voluntary income is accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the Charity is considered probable. Legacy income is recognised when there has been grant of probate, the executors have established that there are sufficient assets in the estate, after settling any liabilities, to pay the legacy, and any conditions attached to the legacy are either within the control of the Charity or have been met.

Voluntary income for the Charity’s general purposes is accounted for as unrestricted and is credited to the General Reserve. Where through terms of an appeal or from the donor there is a trust law restriction on the use of any voluntary income, the income is credited to the relevant Restricted Funds or Endowment. Gifts in kind are valued at estimated open market value at the date of gift, in the case of assets for retention or consumption, or at the value to the Charity in the case of donated services or facilities.

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants relating to revenue are recognised in income over the period in which the related costs are recognised.

2.4 Expenditure

Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities. Expenditure attributable to more than one cost category in the SoFA is apportioned to them on the basis of the estimated amount attributable to each activity in the year, either by reference to staff time or the use made of the underlying assets, as appropriate. Expenditure is reported net of recoverable VAT.

34

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Grants awarded are expensed as soon as they become a legal or constructive liability. Governance costs comprise the costs of complying with constitutional and statutory requirements.

Intra-group sales and charges between the Charity and its subsidiaries are excluded from trading income and expenditure.

Redundancy costs are recognised as an expense in the period in which the Charity becomes irrevocably committed to incurring the costs and the main features of the plans have been announced to affected employees.

2.5 Tangible fixed assets

Expenditure on the acquisition, construction or enhancement of land and buildings, vehicles, furniture, machinery, ICT infrastructure and other equipment costing more than £2k is capitalised and carried in the balance sheet at historical cost. In certain circumstances, where the original costs of assets are not ascertainable, a reasonable estimate of the cost, if material, has been used. Other expenditure on equipment incurred in the normal day-to-day running of the Charity and its subsidiaries is charged to the Statement of Financial Activities as incurred.

2.6 Depreciation

Depreciation is provided to write off the cost of all relevant tangible fixed assets less estimated residual value based on current market prices, in equal annual instalments over their expected useful economic lives, as follows:

economic lives, as follows:
Newly constructed buildings	60 years
Other buildings, including major extensions	50 years
Furniture and equipment	10 years
IT equipment	3 years
Motor vehicles	5 years

2.7 Investments

Unlisted and alternative investments are stated at their fair values at the balance sheet date. For all listed and other investments where there is an active market the investments are listed at their quoted market prices.

Unrealised gains and losses arising on the revaluation of investments are credited or charged to the Statement of Financial Activities and are allocated to the appropriate fund according to the ‘ownership’ of the underlying assets.

Investment property is stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations in the year. The properties in the portfolio are revalued by a professional valuer who is qualified for the purposes required, based on market knowledge, at least every three years. Losses arising on revaluation of any property are recognised in other income to the extent of any previously recognised revaluation increases in respect of that asset. Any gains on revaluation are recognised in other income only when the Charity has discretion over the timing of the asset’s disposal.

35

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Investments in subsidiaries are adjusted annually to reflect the subsidiary’s net assets as per its latest audited financial statements.

2.8 Loans

The Charity’s bank loans are non-derivative financial liabilities and are recognised originally at transaction cost.

Subsequent to initial recognition these financial liabilities are measured at amortised cost using the effective interest rate method.

2.9 Stock

Stock represents goods for resale and is valued at the lower of cost and net realisable value.

2.10 Fund accounting

The charitable trust funds of the Charity and its subsidiaries are accounted for as unrestricted or restricted income, or as endowment capital, in accordance with the terms of trust imposed by the donors or any appeal to which they may have responded.

Unrestricted income belongs to the Charity’s corporate reserves, spendable at the discretion of the Governors either to further the Charity’s objects or to benefit the Charity itself. Where the Governors decide to set aside any part of these funds to be used in future for some specific purpose, this is accounted for by transfer to the appropriate designated fund.

Restricted income comprises gifts, legacies and grants where there is no capital retention obligation or power but only a trust law restriction to some specific purpose intended by the donor.

Expendable endowment arises where a donor attaches specific conditions to the gift meaning that it cannot be spent except in those circumstances specified in the terms of the endowment document.

Permanent endowment arises where a donor intends the gift to be retained permanently for use by the Charity (e.g. freehold land) or for its financial benefit (i.e. by investment). If the donor or the terms of an appeal has restricted the purpose for which the gift or any income from it is to be used, such income will accrue to the appropriate Restricted Fund.

2.11 Pension costs

Retirement benefits to employees of the Charity are provided through a defined contribution pension scheme, The Eastbourne College Worksave Pension, managed by Legal & General. Employers’ pensions costs are charged in the period in which the salaries to which they relate are payable.

2.12 Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised value with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with all debtors other than prepayments. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and

36

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

other taxes and fees received in advance. Assets and liabilities held in foreign currency are translated to GBP at the balance sheet date at an appropriate year-end exchange rate.

2.13 Foreign currencies

The financial statements are presented in Sterling, which is also the functional currency of the Charity. Transactions in currencies other than Sterling are recorded at the rate of exchange at the date the transaction occurred. Monetary assets and liabilities denominated in other currencies are translated at the exchange rate prevailing at the end of the reporting period. All differences are taken to the Statement of Financial Activities.

3. CHARITABLE ACTIVITIES - FEES RECEIVABLE

Fees receivable consist of School fees Less total scholarships, bursaries and other fee remission Add back bursaries and other awards paid for by Restricted Funds	2025 £’000 28,722 (4,947) 23,775 301 24,076	2024 £’000 29,418 (5,065)
		24,353 185
		24,538

Scholarships, bursaries and other awards were paid to 338 pupils (2024: 357). Within this, meanstested bursaries totalling £2,059k were paid to 140 pupils (2024: £2,028k to 151 pupils).

4. CHARITABLE ACTIVITIES - OTHER INCOME

Extra tuition Entrance and registration fees Trip income Commissions and other income	2025 2024 £’000 £’000 656 692 328 404 445 249 145 172
	1,574 1,517

37

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

5. OTHER TRADING ACTIVITIES Trading income Bussing operations School shop Lettings Others Other activities Interest on overdue fees Profit on disposal of fixed assets 6. INVESTMENT INCOME Unrestricted £’000 Securities investment income Equities 154 Fixed interest 8 Investment Property income 36 198 7. BANK AND OTHER INTEREST Unrestricted £’000 Bank interest 443	Restricted £’000 43 5 - 48 Restricted £’000 2	Endowed £’000 85 3 - 88 Endowed £’000 -		2025 £’000 262 166 775 2 1,205 2025 £’000 7 3 10 Total 2025 £’000 282 16 36 334 Total 2025 £’000 445		2024 £’000 250 183 1,039 -
						1,472
						2024 £’000 1 7
						8
						Total 2024 £’000 258 15 -
						273
						Total 2024 £’000 4

6. INVESTMENT INCOME

38

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

8. LEGACIES, DONATIONS AND GRANTS RECEIVABLE

Le Brocq Fund Arnold Embellishers Foundation Office Bursary Fund Foundation Office Development Fund Jennie Harari Scholarship Fund Trevor Pescud Scholarship General Donations 9. ANALYSIS OF EXPENDITURE (a) Total expenditure Expenditure on raising funds Trading costs Financing costs (note 10) Investment management Development costs Total expenditure on raising funds Charitable expenditure education and grant-making Teaching Welfare Premises repair and maintenance Support costs and governance Grants, awards and prizes (b) Total charitable expenditure Total expended	Unrestricted Restricted Endowed £’000 £’000 £’000 - 6 - - 3 - - 399 - - 22 - - - - - - 38 - - 38 430 - Staff costs Depreciation Other (note 11) (note 12) £’000 £’000 £’000 318 108 291 - - 610 - - 47 218 - 109 536 108 1,057 11,019 - 1,341 1,818 - 4,079 686 1,432 1,670 1,979 33 1,961 - - 319 15,502 1,465 9,370 16,038 1,573 10,427	Endowed £’000 - - - - - - -	Endowed £’000 - - - - - - -		Total 2025 £’000 6 3 399 22 - - 38 468 Total 2025 £’000 717 610 47 327		Total 2024 £’000 6 1 84 26 300 1 - 418 Total 2024 £’000 772 446 44 373 1,635 11,851 5,967 3,899 4,195 200 26,112 27,747
			-
			Other £’000 291 610 47 109 1,057 1,341 4,079 1,670 1,961 319 9,370 10,427
					1,701
					12,360 5,897 3,788 3,973 319
					26,337
					28,038

39

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

9. ANALYSIS OF EXPENDITURE (CONTINUED)

(b) Grants, awards and prizes From Restricted Funds Bursaries and other grants and awards Prizes and leaving awards From Unrestricted Funds Prizes and leaving awards (c) Charity Governance included in support costs Remuneration paid to auditor for audit services Reimbursement of personal expenses to Governors - travel costs Other governance costs		2025 £’000 301 11 7 319 2025 £’000 32 - 8 40		2024 £’000 185 10 5
				200
				2024 £’000 31 - 5
				36

Travel expenses were reclaimed by 1 member (2024: 1) of the Board of Governors. In addition to the above audit remuneration, the auditor received fees for the audit of the trading subsidiary totalling £7k (2024: £7k) and fees for tax services amounting to £4k (2024: £14k).

10. FINANCE AND OTHER COSTS

Bank loan and overdraft interest Bank arrangement fees Fees in Advance debt-financing	2025 £’000 331 - 279 610	2024 £’000 343 5 98
		446

40

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

11a. STAFF COSTS

The aggregate payroll costs for the year were as follows Wages and salaries Social security costs Other pension costs Aggregate employee benefits of key management personnel Number of higher paid employees (excluding termination payments) in bands of £60,001 to £70,000 £70,001 to £80,000 £80,001 to £90,000 £90,001 to £100,000 £100,001 to £110,000 £110,001 to £120,000 £150,001 to £160,000 £160,001 to £170,000 The number with retirement benefits accruing - in defined contribution schemes was of which the contributions amounted to	2025 £’000 12,713 1,319 2,006 16,038 466 37 6 5 1 1 1 0 1 52 £742,294	2024 £’000 12,267 1,147 1,901
		15,315
		418
		29 5 1 1 1 0 1 0 38 £566,641

The average number of the Charity’s employees during the year was 430 (2024: 451 ).

Teaching Welfare Premises Support Other activities	2025 242 71 25 58 34 430	2024 260 75 25 57 34
		451

Employee numbers are based on the average number of staff employed over the year and not fulltime equivalents. Included within teaching are nursery staff, teaching assistants, teaching technicians and visiting music teachers.

Redundancy or termination payments amounting to £361k (2024: £64k) were paid to thirty-five people during the year (2024: four).

41

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

11b. RELATED PARTY TRANSACTIONS

None of the Governors received any remuneration or other benefits, for or in connection with their service as Governors, from the Charity or from any connected body. Three Governors had children attending either school on the same commercial terms, including as to fee remission, as available to other parents. Fee remission, if awarded, is subject to appropriate governance and approval arrangements. All conflicts of interest are declared and managed effectively in line with the Board of Directors’ Code of Conduct.

	2025	2024
	£’000	£’000
Donations made to the Charity by Governors	3	26

Three members of key management personnel had children attending the schools on the same terms as other members of teaching staff. Two close family members of key management personnel are employed by the Charity and received payments amounting to £100k (2024: £91k).

12. TANGIBLE FIXED ASSETS

Group Cost At 1 September 2024 Additions Disposals VAT recoverable under CGS Reclassified as investment property At 31 August 2025 Depreciation At 1 September 2024 Charge for the year Disposals Reclassified as investment property At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024	Freehold Land £’000 1,556 - - - - 1,556 - - - - - 1,556 1,556	Buildings £’000 67,765 6 - (1,239) (1,213) 65,319 16,716 1,227 - (385) 17,558 47,761 51,049	Furniture and Equipment £’000 3,082 59 (44) - - 3,097 2,390 189 (39) - 2,540 557 692	IT Equipment £’000 1,749 16 - - - 1,765 1,691 34 - - 1,725 40 58	Motor Vehicles £’000 919 59 (36) - - 942 583 123 (36) - 670 272 336	Total £’000 75,071 140 (80) (1,239) (1,213) 72,679 21,380 1,573 (75) (385)
						22,493
						50,186
						53,691

42

EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

12. TANGIBLE FIXED ASSETS (CONTINUED)

Charity Cost At 1 September 2024 Additions Disposals VAT recoverable under CGS Reclassified as investment property At 31 August 2025 Depreciation At 1 September 2024 Charge for the year Disposals Reclassified as investment property At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024	Freehold Land £’000 1,556 - - - -		Building s £’000 64,616 - - (1,239) (1,213) 62,164 14,900 1,166 - (385) 15,681 46,483 49,716	Furniture and Equipment £’000 2,682 59 (43) - - 2,698 2,037 182 (39) - 2,180 518 645	IT Equipment £’000 1,748 16 - - - 1,764 1,690 34 - - 1,724 40 58	Motor Vehicles £’000 293 31 (17) - - 307 182 41 (17) - 206 101 111	Total £’000 70,895 106 (60) (1,239) (1,213)
	1,556						68,489
	- - - - - 1,556 1,556						18,809 1,423 (56) (385)
							19,791
							48,698
							52,086

The Charity has substantial long-held historic assets used in the course of the Charity’s educational activities. These include listed buildings on the Eastbourne College campus, together with their contents. Because of their age and, in many cases, unique nature, reliable historical cost information is not available for these assets and could not be obtained except at disproportionate expense. However, in the opinion of the Governors, the depreciated historical cost of these assets would now be immaterial.

13. CAPITAL COMMITMENTS

As at 31 August 2025 there were no capital commitments (2024: none).

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

14. INVESTMENTS

Group Investments Investment Property Investment Securities Group investments at 31 August 2025 Investment in subsidiaries Charity investments at 31 August 2025 14a. INVESTMENT PROPERTY Market value at 1 September 2024 Reclassified from fixed assets Net investment gains Market value at 31 August 2025 Historical cost	2025 £’000 3,500 10,558 14,058 534 14,592 2025 £’000 - 828 2,672 3,500 1,213	2024 £’000 - 10,296
		10,296 501
		10,797
		2024 £’000 - - -
		-
		-

The investment properties were valued on 31 August 2025 by Tracy McGegor, Director of McGregor Sales and Lettings who has over 30 years’ experience working in the residential sales and lettings markets in Eastbourne. The market values were determined using the Comparative Method, the standard approach for residential investment properties.

14b. INVESTMENT SECURITIES

Group investments At 1 September 2024 New money invested Amounts extracted Increase in value of investments Group investments at 31 August 2025 Investment in subsidiaries Charity investments at 31 August 2025	2025 £’000 10,296 4 (47) 305 10,558 534 11,092	2024 £’000 9,413 4 (55) 934
		10,296 501
		10,797

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

14b. INVESTMENT SECURITIES (CONTINUED)

Investments comprise

Listed investments

Fixed interest Equities Cash Group investments Investment in subsidiaries Charity investments Historical cost	2025 £’000 406 9,861 291 10,558 534 11,092 8,878	2024 £’000 416 9,658 222
		10,296 501
		10,797
		8,713

The Charity’s investments are held in a spread of direct equities and fixed interest bonds. In addition, there are a number of collective instruments held in funds and investment trusts that provide further diversification. The securities investments are managed for the Charity by Charles Stanley & Co Limited. Of the total amounts invested at 31 August 2025, £4,356k was held in overseas securities (2024: £4,275k).

15. DEBTORS

Fees and extras Trade Other debtors Amount due from subsidiary company Other prepayments and accrued income	2025 £’000 3,947 184 320 - 73 4,524	Group 2024 £’000 377 438 329 - 259 1,403	2025 £’000 3,947 183 320 - 73 4,523	Charity 2024 £’000 377 432 329 106 259
				1,503

All debtors are due within one year.

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

16. CAPITAL GOODS SCHEME VAT RECOVERABLE

The Charity participates in HMRC’s Capital Goods Scheme for VAT recovery on major capital projects. Under this scheme, VAT incurred on qualifying capital items is subject to adjustment over a 10-year period based on the taxable use of the asset.

Within two to five years Within one to two years Recoverable within one year	2025 £’000 392 531 923 316 1,239	2024 £’000 - -
		- -
		-

17. CREDITORS: amounts falling due within one year

Deposits from parents Fees received from parents in advance of term Trade creditors Taxation and social security Bank loans Other creditors Fees in Advance scheme Amount due to subsidiary company Accruals and deferred income VAT Payable	2025 £’000 2,751 874 1,002 323 334 504 3,040 - 6,269 1,140 16,237	Group 2024 £’000 2,797 4,429 1,255 291 320 563 4,836 - 306 - 14,797	2025 £’000 2,751 874 980 323 334 504 3,040 116 6,261 1,140 16,323	Charity 2024 £’000 2,797 4,429 1,238 291 320 560 4,836 - 300 -
				14,771

Accruals and deferred income includes £6,142k (2024: £nil) of deferred income. This relates to the Michaelmas term fee income which was invoiced before 31 August 2025. The full amount of this deferred income will be released in the first month of the new academic year.

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

18. CREDITORS: amounts falling due after more than one year

Fees in Advance scheme Bank loan	2025 £’000 4,213 7,693	Group 2024 £’000 7,336 8,028 15,364	2025 £’000 4,213 7,693 11,906	Charity 2024 £’000 7,336 8,028 15,364
	11,906

19. FEES IN ADVANCE SCHEME

Parents may enter into a contract to pay the Charity in advance for fixed contributions towards the tuition fees for up to 5 years at Eastbourne College and up to 8 years at the School. The money may be returned subject to specific conditions on the receipt of notice. Assuming pupils will remain in the College or School, fees in advance will be applied as follows

After five years Within two to five years Within one to two years Within one year Summary of movements in liability Balance at 1 September 2024 New contracts Repayments Amounts used to pay fees Amounts accrued to contract as debt financing cost Balance at 31 August 2025	2025 £’000 376 1,988 1,849 4,213 3,040 7,253	2024 £’000 711 3,506 3,119
		7,336 4,836
		12,172
		£’000 12,172 - (37) (5,161) 279
		7,253

20. BANK LOAN

The bank loan is repayable as follows:

Within one year Within two to five years After five years	2025 £’000 334 4,580 3,114 8,028	2024 £’000 320 4,719 3,309
		8,348

The Charity borrowed a total of £10m from Lloyds Bank Plc on 29 September 2017 secured by a debenture over the Charity’s assets. The first loan of £5m has a fixed rate of 4% for a period of 10 years. The second loan of £5m has a fixed rate of 4.6% for a period of 15 years.

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

21. FUNDS OF THE CHARITY

The Charity’s funds are analysed under the following headings

a) ENDOWED FUNDS

PERMANENT ENDOWMENTS

The Eastbourne College Endowment Fund

The Eastbourne College Endowment Fund includes the original Endowment Fund provided by the members and friends of the Old Eastbournian Association in December 1939.

The Rule Bequest

The Rule Bequest was established in 1983 with a legacy from Reginald Yorke Rule OE.

Income from each of the Endowed Funds above is credited to Unrestricted Funds and has been designated by the Governors for development.

EXPENDABLE ENDOWMENTS

The Ascham and Granville Fund

The Fund was established in 1978 using the sale proceeds of the Ascham and Granville sites. The Fund is treated as an expendable endowment with the income applied towards development.

Denso Scholarship Fund

The Denso Scholarship Fund is an expendable endowment established in 2019 with a donation from David Winn OE. The income from the fund is used to fund scholarships for pupils studying STEM subjects who would otherwise not have the opportunity to attend the College.

The John Klyberg Bursary Fund

The John Klyberg Bursary Fund is an expendable endowment established in 2020 with a legacy from John Klyberg OE. The Fund is to be used to support means-tested bursaries in keeping with the donor’s wishes to enable those, including but not limited to, children of Old Eastbournians who could not otherwise afford the full fees to attend the College.

The Richard Holliday Fund

The Richard Holliday Fund is an expendable endowment established in 2021 with a donation from the Richard Holliday Foundation in memory of Richard Durden Holliday OE, and his wife Gillian. The Fund is to be used to support means-tested bursaries in keeping with the donor’s wishes to support pupils who would not otherwise be able to afford the full fees to attend the sixth form at the College. The awardees are known as Richard Holliday Scholars and the donor’s wish is that the Fund should have a life of 25 years.

b) RESTRICTED FUNDS

Prizes Fund

The income from the assets of the fund assists with the payment of prizes and leaving awards.

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Le Brocq Fund

The Le Brocq Fund was established by Philip and Sally Le Brocq in memory of their son, John, who died while a pupil at the College. The income from the fund is used to grant an annual award to a leaver who has made an outstanding contribution to the life of the College.

Scoresby Fund

The Scoresby Fund was established with a legacy from Thomas Scoresby-Jackson OE. The income from the fund assists with the payment of means-tested bursaries for pupils studying maths and sciences.

Birley Fund

The Birley Fund was set up to support musical causes in need of financial assistance.

Jennie Harari Scholarship

The Harari Scholarship was set up with the funds from the estate of Jennie Harari to provide a music scholarship for a pupil who would be otherwise unable to attend the College.

Old Eastbournian Charity Fund

The income from the fund assists with the payment of means-tested bursaries. This Fund has been combined with the Devonshire Society Bursary Fund given the shared purpose for both Funds.

Arnold Embellishers

The Arnold Embellishers Fund is administered by an association of Old Eastbournians and friends of Eastbourne College. The purpose of the Fund is to finance improvements (embellishments) to the College in accordance with the wishes of its members.

Trevor Pescud Fund

The Trevor Pescud Fund was established in 2016 with a legacy from Trevor Pescud OE. The income from the fund is to be used to assist financing a place at the College for a talented female tennis player. Only the income can be expended for the first 21 years, after which the capital can then also be spent.

Sevorg Scholarship Fund

The Sevorg Scholarship Fund was established in 2018 with a legacy from James Groves OE. The income from the fund is to be used to fund one third of the fees for a pupil from the local area.

College Duke of Edinburgh Fund

The College Duke of Edinburgh Fund was established in 2021 with a legacy from Betty ‘Skip’ Charles. The fund is to be used in support of the College’s Duke of Edinburgh Awards programme, including enabling pupils to participate who would otherwise not be able to.

Foundation Office Bursary Fund

The Foundation Office Bursary Fund is used to assist in financing specific bursaries.

Foundation Office Development Fund

The Development Fund exists to assist in the financing of future capital projects.

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

c) UNRESTRICTED FUNDS

General Funds

Unrestricted General Funds represent accumulated income from the Charity’s activities and other sources that are available for the general purposes of the Charity.

Designated Development Fund

The Designated Development Fund is designated by the Governors for the purpose of assisting in the funding of the Charity’s development plan.

The Devonshire Society Bursary Fund

The Devonshire Society was established by the Foundation and Development Office in 2002 and is Eastbourne College’s legacy club. Unrestricted bequests and legacies left to the Charity by members of the Devonshire Society form part of this Fund, the income from which is used to support means tested bursaries to enable children who could not otherwise afford full fees to attend the College.

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

22. SUMMARY OF MOVEMENTS ON MAJOR FUNDS

Unrestricted Funds General Reserve Designated Development Fund Devonshire Society Bursary Fund Restricted Funds Prizes Fund Le Brocq Fund Scoresby Fund Birley Fund Jennie Harari Scholarship Arnold Embellishers Trevor Pescud Fund Sevorg Scholarship Fund College Duke of Edinburgh Fund Foundation Office Bursary Fund Foundation Office Development Fund Endowed Permanent Endowments Eastbourne College Endowment Fund Rule Bequest Expendable Endowments The Ascham and Granville Fund Denso Scholarship Fund John Klyberg Bursary Fund Richard Holliday Fund Total Funds	At 1 Sept. 2024 £’000 38,525 - 392	Incoming resources £’000 27,381 152 11	Resources expended £’000 (27,674) - (2)	Transfers £’000 152 (152) -	Gains/ (Losses) £’000 2,672 - 8	At 31 August 2025 £’000 41,056 - 409
	38,917	27,544	(27,676)	-	2,680	41,465
	140 106 268 7 300 64 506 472 15 399 137	5 10 8 - - 5 17 12 - 399 24	(5) (6) (2) - - (1) (33) (11) (4) (122) -	- - - - - - - - - - -	2 1 10 - - - 20 11 - - -	142 111 284 7 300 68 510 484 11 676 161
	2,414	480	(184)	-	44	2,754
	879 1,395	- -	(4) (6)	- -	36 46	911 1,435
	2,274	-	(10)	-	82	2,346
	2,949 1,172 1,687 460	- 30 46 12	(13) (30) (92) (33)	- - - -	95 30 35 11	3,031 1,202 1,676 450
	6,268	88	(168)	-	171	6,359
	49,873	28,112	(28,038)	-	2,977	52,924

23. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Securities investments Net current assets/(liabilities) Long-term liabilities	Endowed £’000 - 8,640 65 - 8,705	Restricted £’000 - 1,543 1,211 - 2,754	Unrestricted £’000 51,425 3,875 (1,929) (11,906) 41,465	Total £’000 51,425 14,058 (653) (11,906)
				52,924

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

24. COMPARATIVE SUMMARY OF MOVEMENTS ON MAJOR FUNDS

Unrestricted Funds General Reserve Designated Development Fund Devonshire Society Bursary Fund Restricted Funds Prizes Fund Le Brocq Fund Scoresby Fund Birley Fund Jennie Harari Scholarship Arnold Embellishers Trevor Pescud Fund Sevorg Scholarship Fund College Duke of Edinburgh Fund Foundation Office Bursary Fund Foundation Office Development Fund Endowed Permanent Endowments Eastbourne College Endowment Fund Rule Bequest Expendable Endowments The Ascham and Granville Fund Denso Scholarship Fund John Klyberg Bursary Fund Richard Holliday Fund Total Funds	At 1 Sept. 2023 £’000 38,335 - 351	Incoming resources £’000 27,537 139 9	Resources expended £’000 (27,504) - (1)	Transfers £’000 157 (139) -	Gains/ (Losses) £’000 - - 33	At 31 August 2024 £’000 38,525 - 392
	38,686	27,685	(27,505)	18	33	38,917
	131 97 239 7 - 76 474 423 15 372 112	4 10 8 - 300 5 17 11 - 84 27	(5) (6) (2) - - (2) (31) (10) - (57) (2)	- - - - - (18) - - - - -	10 5 23 - - 3 46 48 - - -	140 106 268 7 300 64 506 472 15 399 137
	1,946	466	(115)	(18)	135	2,414
	803 1,276	- -	(4) (6)	- -	80 125	879 1,395
	2,079	-	(10)	-	205	2,274
	2,702 1,055 1,570 418	- 28 40 11	(13) (13) (74) (17)	- - - -	260 102 151 48	2,949 1,172 1,687 460
	5,745	79	(117)	-	561	6,268
	48,456	28,230	(27,747)	-	934	49,873

25. COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Securities investments Net current assets/(liabilities) Long-term liabilities	Endowed £’000 - 8,426 116 - 8,542	Restricted £’000 - 1,502 912 - 2,414	Unrestricted £’000 53,691 368 222 (15,364) 38,917	Total £’000 53,691 10,296 1,250 (15,364)
				49,873

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

26. CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES – COMPARATIVE FIGURES BY FUND TYPE

(Including Income and Expenditure account) Notes Income and endowments from: Charitable activities School fees receivable 3 Ancillary trading income 4 Other trading activities Non-ancillary trading income 5 Other activities 5 Investments Investment income 6 Bank and other interest 7 Voluntary sources Legacies and donations 8 Total incoming resources Expenditure on raising funds Non-ancillary trading 9 Financing costs 10 Investment management Fundraising & development Total expenditure on raising funds Charitable activities Education and grant-making 9 Total expenditure Net incoming funds from operations before transfers and investment gains Gains/(losses) on investments 14 Net (expenditure)/ income for the year Transfers between funds 23 Net movement in funds for the year Fund balances brought forward at 1 September 2023 Fund balances carried forward at 31 August 2024	Unrestricted Funds £’000 24,538 1,517 1,472 8 148 2 -	Restricted Funds £’000 - - - - 46 2 418	Endowed Funds £’000 - - - - 79 - -	2024 Total £’000 24,538 1,517 1,472 8 273 4 418
	27,685	466	79	28,230
	(772) (446) (2) (373)	- - (6) -	- - (36) -	(772) (446) (44) (373)
	(1,593) (25,912)	(6) (109)	(36) (91)	(1,635) (26,112)
	(27,505)	(115)	(127)	(27,747)
	180 33	351 135	(48) 766	483 934
	213 18	486 (18)	718 -	1,417 -
	231 38,686	468 1,946	718 7,824	1,417 48,456
	38,917	2,414	8,542	49,873

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EASTBOURNE COLLEGE (INCORPORATED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

27. PENSION SCHEMES

Retirement benefits to employees of the Charity are provided through one defined contribution scheme, which is funded by the Charity’s and employees’ contributions.

The Worksave Pension has been in place since May 2014 in conjunction with the auto enrolment rules. The scheme is managed by Legal & General. Basic contributions for support staff are variable and start at 3%. The Charity contributes 5% for support staff who have been employed for 3 months in accordance with auto enrolment. For teaching staff, basic contributions are also variable but start at 0%, with the Charity contributing 15%. The Worksave Pension scheme was made available to teaching staff following the Charity’s withdrawal from the Teachers’ Pension Scheme as of 1 September 2020. No further contributions are payable to the Teachers’ Pension Scheme beyond this date.

The employer’s contributions are charged in the Statement of Financial Activities in the period in which the salaries to which they relate are due. The employer’s contributions in the year, to the defined contribution scheme, amounted to £1,992k (2024: £1,886k). At 31 August 2025 there were no accrued pension contributions for this scheme (2024: none).

28. SUBSIDIARIES

Eastbourne College (Incorporated) owns the whole of the share capital of Eastbourne College Enterprises Limited (ECEL).

ECEL provides bussing services, sports and letting facilities and school shop facilities for Eastbourne College. ECEL had a turnover of £699k (2024: £687k), gross profit of £57k (2024: £59k) and a profit before taxation and gift aid of £34k in the year ended 31 August 2025 (2024: £15k profit). At 31 August 2025 the company had shareholder’s funds of £535k (2024: £500k).

Related Party Transactions

In the year ended 31 August 2025, ECEL charged £658k (2024: £642k) to the Charity for lettings, the provision of bussing services and stationery stock items. The Charity owes £117k to ECEL at 31 August 2025.

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