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2025-08-31-accounts

REGISTERED COMPANY NUMBER: 00871641 (England and Wales) REGISTERED CHARITY NUMBER: 307330

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

WALHAMPTON SCHOOL TRUST LTD (A COMPANY LIMITED BY GUARANTEE)

Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR

WALHAMPTON SCHOOL TRUST LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

----- Start of picture text -----
Page
Report of the Trustees 1 to 8
Report of the Independent Auditors 9 to 12
Statement of Financial Activities 13
Balance Sheet 14 to 15
Cash Flow Statement 16
Notes to the Cash Flow Statement 17
Notes to the Financial Statements 18 to 32
----- End of picture text -----

WALHAMPTON SCHOOL TRUST LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

INCORPORATION

Walhampton School Trust Limited is a charitable company, which was incorporated on 16 February 1966 and registered as a charity on 28 June 1966.

In 1997 Walhampton School merged with Hordle House School to form Hordle Walhampton School. The school's name was changed to Walhampton in 2013, but we continue to celebrate both our Hordle House and Walhampton heritage.

OBJECTIVES AND ACTIVITIES

Mission and Objectives

The objectives of the company are set out in its Memorandum and Articles of Association. The primary objective is to provide a school for boys and girls, with education based on the Christian Faith.

The School's motto is "Gaudete Laboribus Omnes": Let us all rejoice in our work, and our values are: Be Kind, Be Curious; and Achieve.

Our mission, as a co-educational day and boarding school, is to:

The School was inspected by the Independent Schools Inspectorate (ISI) in September 2025, and was found to have met all required standards, across the board.

Principal activities

The Governors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Walhampton's principal activities continue to be the provision of day schooling for boys and girls from age 2 to 13, with boarding available to pupils from age 7 to 13.

Page 1

WALHAMPTON SCHOOL TRUST LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

OBJECTIVES AND ACTIVITIES

Public benefit

The Governors, as the charity trustees, have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission's published guidance concerning the provision of Public Benefit.

We consider that widening access to the opportunities that the School offers, via means-tested bursaries, is an important aspect of the Public Benefit that we provide. During the year 33 children were in receipt of assistance of up to 100% of fees (2024: 26 – up to 100%). This included during 2024/25, 4 transformational bursaries to families who would not otherwise have been able to access a Walhampton education (2024: 3).

The charity recognises the extensive facilities that are enjoyed by our children and we encourage local schools, clubs and societies also to use and benefit from the school's facilities. During the year, 12 local schools participated in our 45th Perry Dalziell Cross country. Unfortunately, our annual Junior Wessex athletics meet was cancelled due to bad weather, but will take place again next year, and it is typically attended by more than 20 local schools. In addition, a number of local childrens' and adults' sports clubs were able to share our site and resources throughout the year either at no cost or at heavily subsidised rates. These include:

Wider benefits to the state and community Volunteers Policy

The School is very grateful to all our Governors who provide their service free of charge. As a charity we recognise the value in accepting volunteer help, but as a School we are mindful of our safeguarding duty to the children in our care. Therefore the School currently enjoys the help only of parents and guardians as volunteers on an ad-hoc basis, and any volunteers working with our children are subject to the Schools safer recruitment policy and checks.

Charitable fundraising

The School supported two main charities this year, with each of the four school Houses, and the WPA, involved with various fundraising events through the year. During the year, the School supported Hampshire and Isle of Wight Air Ambulance and the Naomi House and Jack's Place hospice, as well as Helpful Hounds. At the inaugural Walhampton Triathlon, over 100 participants helped to raise funds in support of the Walhampton School Foundation Trust.

Fundraising activities held during the year included the Fireworks night, the Summer ball, a quiz night and Easter and Christmas events.

Maintenance of an Historic House and Grounds

We are justly proud of our Grade II listed buildings and beautiful grounds and we take seriously our responsibility to maintain and make them available for the enjoyment of the wider community. This involves an appropriate level of additional expenditure each year which is closely monitored.

ACHIEVEMENTS AND PERFORMANCE

Operational performance of the school

The average number of pupils during the year was 353 (2024: 367). The numbers of enquiries and registrations continue to be strong.

Page 2

WALHAMPTON SCHOOL TRUST LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

ACHIEVEMENTS AND PERFORMANCE

Academic achievement

This year a further 19 senior school scholarships or exhibitions were awarded, including those in academic, sport, drama, art, sailing, equine and music (2024: 10) to schools such as Canford, Bryanston, Sherborne, St. Swithun’s, King Edward VI Southampton and Embley. These awards were complemented by a 100% success rate at Common Entrance. Standardised assessments show that our pupils are consistently "significantly above" the national average in English, Maths and Science.

The School has an in-depth PSB (Pre-Senior Baccalaureate) framework across the school, and staff continued to benefit from following the PSB ethos of working collaboratively, including PSB Subject Meetings and sharing best practice with other PSB schools.

In the past year, a new Stepping Stones class has been launched, which is a bridge between the Nursery and the Kindergarten. Pre-Prep has been highly engaged in the implementation and continuous improvement of several key initiatives to enhance the educational experience for the children. Our Forest School continues to ensure that children have valuable opportunities for outdoor learning within our unique setting.

Music and Drama achievements

Music continues to be an integral part of the School with events, concerts and shows throughout the academic year. We currently offer around 170 individual vocal and instrumental lessons each week, delivered by 11 full time and peripatetic music teachers. Pupils are entered for ABRSM, Trinity and Rockschool exams. Pupils benefit from the wide range of extracurricular ensembles and choirs on offer. The Chapel Choir continue to perform in public at multiple concerts throughout the year.

Music and Drama collaborate on a number of productions across the School, including our biennial Arts Festival. We currently offer around 80 individual and duo LAMDA lessons each week, delivered by 3 peripatetic LAMDA teachers.

Sport

Sport remains an integral part of the curriculum at Walhampton. We continue to offer a wide range of activities which allow children to enjoy their sporting journey across a whole host of areas. Weekly matches and Games lessons take place in the traditional team sports: rugby, hockey, football, netball and cricket for boys and girls. The programme is enriched with further opportunities beyond the curriculum in riding, golf, sailing, kayaking, tennis, athletics, swimming and fishing.

Walhampton pupils have achieved regional representative honours in sailing, cricket, gymnastics, football and hockey, as well as a national representative in sailing, gymnastics, rugby and skiing.

Walhampton pupils gained 5 Sports scholarships and 2 sports exhibitions to secondary schools in the year.

Commitment to sustainability

Walhampton continues to be committed to sustainability and eco awareness.

Pupils remain the strongest activists in the school. We have regular Eco rep meetings, and support pupils with assemblies and activism, including lunchtime 'Clean Plate' surveys. Each year we have a whole school Eco Day. This year saw the continuation of the pupil drive including our second 'Trashion' and 'Forever Fashion' show, alongside being announced as a finalist in the Tatler 'eco warrior' schools in September 2024.

Page 3

WALHAMPTON SCHOOL TRUST LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW

Key performance indicators

The Governors are responsible for the setting and review of key performance indicators on the School's operations. This review is delegated to each sub-committee and then reported to the Board on a termly basis. The Education Committee reviews the curriculum and key performance in academic standards, assessment and testing results. The General Purposes Committee is responsible for reviewing staff, health and safety incidents as well as site maintenance/development. The Finance Committee reviews financial performance indicators including fee income, staff costs and parent debtors, in addition to termly management accounts. The Board annually reviews each subcommittee's Terms of Reference to ensure that relevant performance indicators are kept relevant to any changes within our Strategic Risk Register. In addition, the Pastoral team meets on a regular basis to discuss pupil wellbeing and safeguarding.

The School drew down a £350,000 Coronavirus Business Interruption Loan Scheme in September 2020 as a precaution to ensure availability of liquidity in the event of any further potential downside scenario as a result of the pandemic. The proceeds of the loan have been kept on deposit and have not been used. The Loan continues to be paid back monthly.

A key financial impact on the School was the introduction of VAT on school fees and similar charges with effect from 1 January 2025. Accordingly, the School duly registered for VAT with effect from 8 December 2024. The amount of pre-registration VAT claimed was £33,020. As the School also makes exempt supplies, partial exemption applies. The amount of irrecoverable VAT incurred in the year since was £5,353.

The net movement in funds for the year amounted to a loss of £108,470 (2024: surplus £260,294) as a direct result of the introduction of VAT on school fees. The School continues to examine its cost base in order to optimise the effectiveness of its operating model. The Governors' objective continues to be that the School will have a strengthened financial model, aligned with the School's Mission and Objectives, in order to deliver sustainable surpluses over time.

Fees for the school year 2024/25 initially increased by 3.97% in September 2024 and by a further 10%, including value added tax in January 2025 (2024: 5.6%). Fee income accounted for 88.1% of total School income (2024: 89.0%) which was £6,325,710 (2024: £6,520,214).

During the year £209,163 (2024: £108,610) was invested in our buildings, grounds and equipment. This included the creation of our Stepping Stones classroom, refurbishment of boarding bathrooms and a new Clockhouse roof, and the replacement of two minibuses.

As Walhampton is a registered charity, parents have the assurance that all of the School's income is used for educational purposes. The Governors view our bursary awards as important in helping to ensure that children from families who would otherwise not be able to afford the fees can gain access to the education we offer. Nevertheless, in funding our awards we are careful to ensure a balance between full fee-paying parents, many of whom make considerable personal sacrifices to pay for their child's education, and those benefiting from the awards.

The closing level of restricted funds was £770 (2024: £1,780) and unrestricted funds was £6,519,508 (2024: £6,626,968) including the designated fund, with the net assets of the School being £6,820,278 (2024: £6,628,748) at the year end.

Investment policy

The strategy for investments is that any surplus funds are held in high interest bearing UK accounts in order to earn an optimum rate of return whilst maintaining a low exposure to risk. Income from investments for the year was £25,172 (2024: £19,042).

Page 4

WALHAMPTON SCHOOL TRUST LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW

Reserves policy

The current level of the School's reserves is detailed in note 19 to the accounts.

Free reserves are defined by the Charity Commission as total funds less endowment, restricted and designated funds, pension reserves and unrestricted funds which could only be realised by disposing of tangible fixed assets. As at 31 August 2025 the School's unrestricted funds (including designated funds) stood at £6,519,508 (2024: £6,626,968), of which £6,464,856 (2024: 6,553,961) was represented by tangible fixed assets, leaving a deficit of free reserves of £54,652 (2024: deficit £73,007).

In assessing the viability of the School's financial plan and strategies, the Governors consider a range of relevant indicators, including actual and forecast financial surplus and cash flow. The Governors believe that the School is able to operate with a deficit on free reserves, as detailed by the Charity Commission, provided the overall reserve position (i.e. including tangible fixed assets) remains positive and provided that forecast cash flows are sufficient to meet all anticipated requirements.

The Governors believe it desirable over the longer term that the School should move towards a positive free reserves balance through the retention of operating surpluses, where to do so is consistent with the needs of the School and with the Strategic Development Plan.

This policy will be monitored by the Finance Committee and reviewed annually.

FUTURE DEVELOPMENTS

Although site development remains a key priority for Walhampton, there are no significant investments planned for the forthcoming year. There is a rolling maintenance program in place to ensure that our buildings and facilities are appropriately maintained and this continues to be a key priority.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing body

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Governors, who are also required under the Articles to serve as members of the Company, are elected by the Board at a full Governors' Meeting having been nominated on the basis of their particular skills, experience, competence and availability.

Prospective Governors are required to complete a self-declaration confirming that they are not disqualified from being a charity trustee. Once elected, Governors are required to complete an annual declaration of interests form in accordance with the School's Conflict of Interest Policy.

Qualifying Third Party Indemnity Provisions

The Company has maintained throughout the financial year Directors’ liability insurance in respect of itself and its Directors. The cost in the year was £1,175 (2024: £1,109).

Page 5

WALHAMPTON SCHOOL TRUST LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational Management

The school is controlled by the Board of Governors, which meets as a full Board three times a year to determine the general policy of the charitable company and to review its overall management and control. The following committees have been established under terms of reference approved by the Board: Education, General Purposes, Finance and Remuneration. The Education, General Purposes and Finance Committees meet termly and the minutes of these meetings are made available to all Board members. The Remuneration Committee normally meets during the summer term and its recommendations are presented orally to the Board. Other working groups meet on a regular basis and report termly to the full Board.

The implementation of the Board's policies and day-to-day running of the School is delegated to the Head and the Director of Finance & Operations, who with rest of the Strategy team, are key management personnel, who are supported by other senior members of staff. The remuneration of the Head and the Director of Finance & Operations is set by the Board following recommendations made by the Remuneration Committee in accordance with its terms of reference.

Group Structure and Relationships

Walhampton is a member of the Independent Association of Preparatory Schools (IAPS), the Independent Schools Bursars' Association (ISBA) and the Boarding Schools Association (BSA).

The School co-operates with a number of local charities, schools and other organisations, as described in the Public Benefit section above. The aim of such cooperation is to widen access to the schooling that we provide, to optimise the educational use of our cultural and sporting facilities, and to awaken in our pupils an awareness of the wider social context of the education they receive at Walhampton.

We benefit from an active Walhampton Parents' Association, which arranges social events to help strengthen the School community and to raise funds to enhance our facilities. The School also benefits from a growing network of alumni from both Hordle House and Walhampton, whose support we greatly appreciate.

Trustee Training

New Governors are provided with an information pack on their appointment, giving details of the workings of the School, Board policy and procedures, and their obligations as a charity trustee. They are also invited to visit the school to meet with the Head, Director of Finance & Operations and other staff as appropriate, and to tour the School.

Governors are encouraged to visit the School regularly during their tenure, to observe lessons and to meet with staff and pupils. They also undergo formal training in a variety of ways including briefings during routine meetings and dissemination of written guidance documents.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

00871641 (England and Wales)

Registered Charity number

307330

Registered office

Main Road Lymington Hampshire SO41 5ZG

Page 6

WALHAMPTON SCHOOL TRUST LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

Trustees Mrs V Speers Chair of the Board of Governors Mrs H K Leavesley Mr C E Nicholson Mr L I Pearce Dr M Sopher Dr P Champkin Mr T Honeyman Brown Mr W Linley-Adams Mrs E Macaskill (resigned 8 July 2025) Mrs S M Frankish Mr R G Jones Mrs R Hamlyn Ms J B Sharp

The members of the Education Committee during the year were Mr W Linley-Adams (Chair), Mrs V Speers, Dr P Champkin, Mr T Honeyman Brown, Mrs R Hamlyn, Mr R G Jones, Mr L Pearce, and Mrs S Frankish.

The members of the Finance Committee during the year were Mr T Honeyman Brown (Chair), Mrs V Speers, Dr P Champkin, Mr W Linley-Adams, Mrs E Macaskill, and Ms J B Sharp.

The members of the General Purposes Committee during the year were Dr P Champkin (Chair), Mrs V Speers, Mr T Honeyman Brown, Mr W Linley-Adams, Mrs H K Leavesley, Mr C E Nicholson, and Dr M Sopher.

Company Secretary

Mrs A M Bennett

Auditors

Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR

Professional Advisers

Bankers: Lloyds Bank PLC, 39 High Street, Lymington, SO41 9ZF

Solicitors: Moore Barlow LLP, The Oriel, Sydenham Road, Guildford, GU1 3SR

Insurance Brokers: Marsh Limited, 4 Milton Road, Haywards Heath, West Sussex RH16 1AH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Walhampton School Trust Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 7

WALHAMPTON SCHOOL TRUST LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees 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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Hopper Williams & Bell Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 29 November 2025 and signed on its behalf by:

Victoria Speers

Mrs V Speers - Trustee

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WALHAMPTON SCHOOL TRUST LTD

Opinion

We have audited the financial statements of Walhampton School Trust Ltd (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 trustees' 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 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. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors 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 of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 the audit:

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WALHAMPTON SCHOOL TRUST LTD

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

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

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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.

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WALHAMPTON SCHOOL TRUST LTD

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed 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 Report of the Independent Auditors.

Page 11

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WALHAMPTON SCHOOL TRUST LTD

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 auditors' 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.

Michaela Johns FCCA (Senior Statutory Auditor) for and on behalf of Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR

08 Dec 2025

Page 12

WALHAMPTON SCHOOL TRUST LTD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
9,289
Charitable activities
5
School fees
5,572,997
Other tuition services
468,343
Other income
37,425
Other trading activities
4
275,304
Total
6,363,358
EXPENDITURE ON
Raising funds
6
89,636
Charitable activities
7
General
61,615
School operating costs
6,303,902
Interest payable
15,665
Total
6,470,818
NET (EXPENDITURE) / INCOME
(107,460)
RECONCILIATION OF FUNDS
Total funds brought forward
6,626,968
TOTAL FUNDS CARRIED FORWARD
6,519,508		 Restricted
funds
£
11,205
-
-
-
-
11,205
-
12,215
-
-
12,215
(1,010)
1,780
770		 2025
Total
funds
£
20,494
5,572,997
468,343
37,425
275,304
6,374,563
89,636
73,830
6,303,902
15,665
6,483,033
(108,470)
6,628,748
6,520,278		 2024
Total
funds
£
16,515
5,801,998
555,442
31,432
157,360
6,562,747
106,387
38,457
6,128,710
28,899
6,302,453
260,294
6,368,454
6,628,748

The notes form part of these financial statements

Page 13

WALHAMPTON SCHOOL TRUST LTD

BALANCE SHEET 31 AUGUST 2025

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
16
NET ASSETS
FUNDS
19
Unrestricted funds:
General fund
Revaluation Reserve
Designated Fund
WPA
Restricted funds:
Other
TOTAL FUNDS		 Unrestricted
funds
£
6,464,856
510,783
1,193,329
1,704,112
(1,431,976)
272,136
6,736,992
(217,484)
6,519,508		 Restricted
funds
£
-
-
770
770
-
770
770
-
770		 2025
Total
funds
£
6,464,856
510,783
1,194,099
1,704,882
(1,431,976)
272,906
6,737,762
(217,484)
6,520,278
3,223,773
3,203,283
55,585
36,867
6,519,508
770
770
6,520,278		 2024
Total
funds
£
6,553,961
1,831,260
1,723,325
3,554,585
(3,037,400)
517,185
7,071,146
(442,398)
6,628,748
3,318,471
3,203,283
55,585
49,629
6,626,968
1,780
1,780
6,628,748

The notes form part of these financial statements

continued...

Page 14

WALHAMPTON SCHOOL TRUST LTD

BALANCE SHEET - continued 31 AUGUST 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 29 November 2025 and were signed on its behalf by:

Victoria Speers

Mrs V Speers - Trustee

Tom Honeyman Brown

Mr T Honeyman Brown - Trustee

The notes form part of these financial statements

Page 15

WALHAMPTON SCHOOL TRUST LTD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
(234,398)
(15,665)
(250,063)
(209,163)
-
(209,163)
(70,000)
(70,000)
(529,226)
1,723,325
1,194,099		 2024
£
1,078,568
(28,899)
1,049,669
(109,382)
-
(109,382)
(70,000)
(70,000)
870,287
853,038
1,723,325

The notes form part of these financial statements

Page 16

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Finance costs
Decrease (increase) in debtors
Increase (decrease) in creditors
Net cash provided by / used by operations
ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.24
£
Net cash
Cash at bank and in hand
1,723,325
1,723,325
Debt
Debts falling due within 1 year
(70,000)
Debts falling due after 1 year
(75,834)
(145,834)
Total
1,577,491		 2025
£
(108,470)
293,918
4,350
15,665
1,320,477
(1,760,338)
(234,398)
Cash flow
£
(529,226)
(529,226)
-
70,000
70,000
(459,226)		 2024
£
260,294
287,824
4,032
28,899
(9,726)
507,245
1,078,568
At 31.8.25
£
1,194,099
1,194,099
(70,000)
(5,834)
(75,834)
1,118,265

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

Page 17

WALHAMPTON SCHOOL TRUST LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

Charity information

Walhampton School Trust Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Main Road, Lymington, Hampshire, SO41 5ZG.

Basis of preparing the financial statements

These accounts have been prepared in accordance with FRS102 "The Financial Reporting standard applicable in the UK and Republic of Ireland" ("FRS102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS102.

The financial statements are prepared in sterling, which is the functional and presentational currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met or are fully within the control of the charity, there is sufficient certainty that receipt of the income is considered possible, and the amount can be measured reliably.

Donated services and facilities

Under the Charities SORP (FRS 102), donated services and facilities are calculated as value to the charity, instead of cost to the donor. Donations received for the general purposes of the company are credited to unrestricted funds. Donations subject to specific wishes of the donors are credited to restricted funds or to endowed funds where the amount is required to be held as permanent capital.

Income from charitable activities

Tuition fees are included within the Financial Statements on a receivable basis. Amounts invoiced in advance are deferred and carried forward within creditors, whilst amounts due but not yet received in the year are shown within debtors. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the company, and net of any value added taxes.

Fees received in advance of education to be provided in future years under an Advance Fee Payments Scheme contract are held until either taken to income in the term when used or else refunded.

Trading income, which includes letting, is accounted for when the events take place.

Interest income is accrued on a time-apportioned basis, by reference to the principal outstanding at the effective interest rate.

All income was generated in the UK.

Business Interruption Payment (BIP) under the Coronavirus Business Interruption Loan: The accrual model has been used to recognise the income on a systematic basis over the periods in which the related finance costs are incurred.

continued...

Page 18

WALHAMPTON SCHOOL TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES - continued

Expenditure

All expenditure is accounted for on an accruals basis and net of any value added taxes. Expenditure is allocated to expense headings either on a direct cost basis, or apportioned to time spent, where it is not possible to directly attribute the expense. As a proportion of supplies are exempt for the purposes of value added tax, partial exemption applies, and any non-recoverable VAT is recorded as an expense.

Allocation of support costs

Support costs comprise of the costs of running the School, including strategic planning for its future development, also external audit fees, any legal advice for the board of governors and all costs of complying with constitutional and statutory requirements, such as the cost of governors' meetings and of preparing statutory accounts and satisfying public accountability.

Charitable funds

General funds

General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the company and which have not been designated for any other purpose.

Designated funds

Included within designated funds is the JB & PL Bursary fund. Investments previously held by a separate connected charity, JB & PL Bursary Trust, were transferred to the school with the consent of the Charity Commission. The fund is to provide for future bursaries.

Restricted funds

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise where specified by the donor or when funds are raised for particular restricted purposes.

Fund transfers

Resources are transferred from Unrestricted Funds to Restricted Funds where expenditure meeting the criteria laid down by a donor of restricted income exceeds this income.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Tangible fixed assets

Tangible fixed assets are measured at cost (or deemed cost for land and buildings at the date of transition to FRS 102) less accumulated depreciation and any impairment losses.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the depreciable amount of each asset to its estimated residual value on a straight line basis over its expected useful life, as follows:

Freehold land and buildings - 1% to 10% on cost according to category Fixtures and fittings - 5% and 25% on cost Motor & maintenance equipment - 12.5% and 20% on cost

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Capital assets donated are capitalised in fixed assets and are included in income. Assets within a project are looked at in total and if the total is less than £1,000 they are not capitalised.

continued...

Page 19

WALHAMPTON SCHOOL TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash and cash equivalents include cash in hand.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The Charity has a defined contribution scheme. The pension costs charged represents the contributions payable by the School during the year in accordance with FRS102 in that contributions are charged to the SOFA account in the period in which they are due.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

continued...

Page 20

WALHAMPTON SCHOOL TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES - continued

Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank overdrafts are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Liabilities are recognised within the financial statements in respect of all expenditure for which the entity has a measurable obligation, be it constructive or legal, at the balance sheet date. Any expenditure which is committed to, but not measurable at this time, is disclosed within the notes to the financial statements as a contingent liability.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

continued...

Page 21

WALHAMPTON SCHOOL TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Charity's accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Classification of leases

In categorising leases as finance leases or operating leases, management makes judgements as to whether significant risks and rewards of ownership have transferred to Walhampton School Trust Limited.

Bad debts

Trade debtors are reviewed on an annual basis to determine whether a bad debt provision should be made against any items. Only where the trustees consider recovery of a debt to be unlikely is a provision made.

Deemed cost of fixed assets

Upon transition to FRS 102, specific fixed assets were revalued to deemed costs based on assumptions made by a Property Consultant. The trustees are satisfied that the assumptions made were appropriate.

3. DONATIONS AND LEGACIES

Unrestricted
Restricted
funds
funds
£
£
Donations
9,289
11,205
OTHER TRADING ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
Other lettings income
68,143
-
Lettings income - external
158,308
-
Fundraising WPA
48,853
-
275,304
-		 2025
Total
funds
£
20,494

4. OTHER TRADING ACTIVITIES

continued...

Page 22

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

5. INCOME FROM CHARITABLE ACTIVITIES

Activity
School fees
School fees
Less: Scholarships
School fees
Less: Bursaries
School fees
Less: Other discounts
School fees
Other tuition services
Other tuition services
Registration fees & retained
deposits
Other income		 2025
£
6,071,128
(21,211)
(169,798)
(307,122)
468,343
37,425
6,078,765		 2024
£
6,406,322
(15,078)
(217,124)
(372,122)
555,442
31,432
6,388,872

6. RAISING FUNDS

Raising donations and legacies

Unrestricted
funds
£
Marketing
89,636
CHARITABLE ACTIVITIES COSTS
General
School operating costs
SUPPORT COSTS
Other
£
School operating costs
338,222		 2025
Restricted
Total
funds
funds
£
£
-
89,636
Support
Direct
costs (see
Costs
note 8)
£
£
61,615
5,314,972
-
988,930
5,376,587
988,930
Governance
Staff costs
costs
£
£
600,613
68,058		 2024
Total
funds
£
10,387
Totals
£
61,615
6,303,902
6,365,517
Totals
£
1,006,893

7. CHARITABLE ACTIVITIES COSTS

8. SUPPORT COSTS

continued...

Page 23

WALHAMPTON SCHOOL TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

8. SUPPORT COSTS - continued

The charity identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs are apportioned between staff costs and general support.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Support costs, included in the above, are as follows:

Governance costs

2025 2024
School
operating Total
costs activities
£ £
Auditors' remuneration 11,671 13,650
Accountancy fees 460 7,054
Legal and professional fees 53,115 42,806
Governance expenditure 2,812 2,385
68,058 65,895

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging:

Auditors' remuneration
Depreciation - owned assets
Deficit on disposal of fixed assets
Governors’ liability insurance		 2025
£
11,671
293,918
4,350
1,175		 2024
£
13,650
287,052
4,032
1,109

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.

Trustees' expenses

Expenses covering training and travel costs of £287 were reimbursed during the year for 2 Governor (2024: 8: £3,167).

continued...

Page 24

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

11. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2025
£
3,966,918
384,742
350,348
4,702,008		 2024
£
3,674,338
388,181
386,572
4,449,091

The average monthly number of employees during the year was as follows:

Teaching
Administrative & domestic		 2025
80
62
142		 2024
83
60
143

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£110,001 - £120,000
£120,001 - £130,000		 2025
1
1
1
-
1		 2024
1
1
-
1
-
4 3

Contributions were made into the Pension Schemes for the higher paid employees of £51,993 (2024: £50,936). The total remuneration of key management personnel is £497,881 (2024: £461,516).

The average number of employees on a full time equivalent basis is 108 (2024: 117).

continued...

Page 25

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
11,414
Charitable activities
5
School fees
5,801,998
Other tuition services
555,442
Other income
31,432
Other trading activities
4
157,360
Total
6,557,646
EXPENDITURE ON
Raising funds
6
106,387
Charitable activities
7
General
34,888
School operating costs
6,128,710
Interest payable
28,899
Total
6,298,884
NET INCOME
258,762
RECONCILIATION OF FUNDS
Total funds brought forward
6,368,206
TOTAL FUNDS CARRIED FORWARD
6,626,968		 Restricted
funds
£
5,101
-
-
-
-
5,101
-
3,569
-
-
3,569
1,532
248
1,780		 2025
Total
funds
£
16,515
5,801,998
555,442
31,432
157,360
6,562,747
106,387
38,457
6,128,710
28,899
6,302,453
260,294
6,638,454
6,628,748		 2024
Total
funds
£
1,119
5,426,707
504,014
27,212
98,161
6,057,213
99,695
34,132
5,839,977
23,316
5,997,120
60,093
6,308,361
6,368,454

continued...

Page 26

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

13. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
COST
At 1 September 2024
Additions
Disposals
At 31 August 2025
DEPRECIATION
At 1 September 2024
Charge for year
Eliminated on disposal
At 31 August 2025
NET BOOK VALUE
At 31 August 2025
At 31 August 2024		 Freehold
property
£
9,535,261
63,325
-
9,598,586
3,240,086
210,977
-
3,451,064
6,147,522		 Fixtures
Motor and
and
maintenance
fittings
equipment
£
£
911,591
467,273
74,944
70,894
-
(68,307)
986,535
469,860
690,335
429,743
73,299
9,642
-
(63,957)
763,634
375,428
222,901
94,432		 Totals
£
10,914,125
209,163
(68,307)
11,054,981
4,360,164
293,918
(63,957)
4,590,125
6,464,856
6,553,961
6,295,175 221,256 37,530

The net book value at 31 August 2025 represents fixed assets, which are all used for direct charitable purposes.

Land and buildings with a carrying amount of £584,019 as at 1 September 2014 were revalued at 31 August 2015 to £3,787,302 by Aitchison Raffety Property Consultants, independent valuers not connected with the charity on the basis of fair value, taken as deemed cost as part of the charity’s transition to FRS 102.

The Governors decided to bring specific land and buildings to deemed cost representing their fair value as at 31 August 2015. There was no material difference to the value at transition at 1 September 2014. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

At 31 August 2025, had the revalued assets been carried at historic cost, plus fixed asset additions, less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £515,125 (2024: £495,150).

The Governors are of the opinion that the open market value of the freehold land and buildings exceed its book value, and the Governors believe there is no need for an impairment of the freehold land and buildings.

continued...

Page 26

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
305,299
44,734
160,750
510,783		 2024
£
1,751,923
4,044
75,293
1,831,260

During the year, the School's bad debt provision was £125,960 (2024: £97,711).

During the year, the School released provisions for bad debt of £nil (2024: £nil) to the Statement of Financial Activities. The total value of debtors written off in the year is £33,582 (2024: £44,378).

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts (see note 17)
Trade creditors
Social security and other taxes
Other creditors		 2025
£
70,000
164,887
106,522
1,090,567
1,431,976		 2024
£
70,000
194,205
85,225
2,687,970
3,037,400

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 17)
Deposits due > 1 year
Fees in advance		 2025
£
5,834
46,690
164,960
217,484		 2024
£
75,834
366,564
442,398

The School operates an advanced payment of fees scheme whereby parents can enter into a contract to pay the School a lump sum to be used towards future years' tuition. Fees received in advance under the scheme are set against future tuition fees. The advanced fees form part of the general funds of the charity. Assuming pupils remain at the School, the advance fees will be applied as follows:

Within one year
Within one to two years
Within two to five years		 2025
£
280,670
164,960
-
445,630		 2024
£
475,593
232,080
134,484
842,157

continued...

Page 27

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

17. LOANS

An analysis of the maturity of loans is given below:

Bank loans: Amounts falling due within one year on demand
Bank loans: Amounts falling between one and two years
Bank loans: Amounts falling due between two and five years		 2025
£
70,000
5,834		 2024
£
70,000
70,000
- 5,834

An unlimited debenture with a fixed and floating charge over the commercial freehold property known as Walhampton School exist in favour of Lloyds Bank Plc.

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2025
£
10,001
-
10,001		 2024
£
20,820
23,511
44,331

19. MOVEMENT IN FUNDS

Restricted funds

The school received £11,205 (2024: £5,301) from various donors for specific causes against which costs of £3,965 were incurred. £8,250 (2024: £3,321) was distributed in the year.

Unrestricted funds

The designated fund includes income set aside to provide for future Bursaries. This fund was not utilised in the year. A separate designated fund has been included for monies raised by the Walhampton Parents Association (WPA). Money raised by WPA is set aside in the designated fund to be redistributed towards specific chosen charities, at the discretion of the school and WPA, in future .

continued...

Page 28

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

19. MOVEMENT IN FUNDS continued

Unrestricted funds
General fund
Revaluation Reserve
Designated Fund
WPA
Restricted funds
Other
TOTAL FUNDS		 At 1.9.24
£
3,318,471
3,203,283
55,585
49,629
6,626,968
1,780
1,780
6,628,748		 movement
in funds
£
(94,698)
-
-
(12,762)
(107,460)
(1,010)
(1,010)
(108,470)		 At 31.8.25
£
3,223,773
3,203,283
55,585
36,867
6,519,508
770
770
6,520,278

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
WPA
Restricted funds
Other
TOTAL FUNDS		 Incoming
resources
£
6,314,505
48,853
6,363,358
11,205
11,205
6,374,563		 Resources
expended
£
(6,409,203)
(61,615)
(6,470,818)
(12,215)
(12,215)
(6,483,033)		 Movement
in funds
£
(94,698)
(12,762)
(107,460)
(1,010)
(1,010)
(108,470)

continued...

Page 29

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Revaluation Reserve
Designated Fund
WPA
Restricted funds
Sports relief
Other
TOTAL FUNDS
Comparative net movement in funds, included in the above are a
Unrestricted funds
General fund
WPA
Restricted funds
Sports relief
Other
TOTAL FUNDS		 At 1.9.23
£
3,067,106
3,203,283
55,585
42,232
6,368,206
248
-
248
6,368,454
s follows:
Incoming
resources
£
6,515,113
42,533
6,557,646
-
5,101
5,101
6,562,747		 Net
movement
in funds
£
251,365
-
-
7,397
258,762
(248)
1,780
1,532
260,294
Resources
expended
£
(6,263,748)
(35,136)
(6,298,884)
(248)
(3,321)
(3,569)
(6,302,453)		 At 31.8.24
£
3,318,471
3,203,283
55,585
49,629
6,626,968
-
1,780
1,780
6,628,748
Movement
in funds
£
251,365
7,397
258,762
(248)
1,780
1,532
260,294

continued...

Page 30

WALHAMPTON SCHOOL TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Revaluation Reserve
Designated Fund
WPA
Restricted funds
Sports relief
Other
TOTAL FUNDS		 At 1.9.23
£
3,067,106
3,203,283
55,585
42,232
6,368,206
248
-
248
6,368,454		 Net
movement
in funds
£
156,667
-
-
(5,365)
151,302
(248)
770
522
151,824		 At 31.8.25
£
3,223,773
3,203,283
55,585
36,867
6,519,508
-
770
770
6,520,278

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
WPA
Restricted funds
Sports relief
Other
TOTAL FUNDS		 Incoming
Resources
resources
expended
£
£
12,829,618
(12,672,951)
91,386
(96,751)
12,921,004
(12,769,702)
-
(248)
16,306
(15,536)
16,306
(15,784)
12,937,310
(12,785,486)		 Movement
in funds
£
156,667
(5,365)
151,302
(248)
770
522
151,824

continued...

Page 31

WALHAMPTON SCHOOL TRUST LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

20. RELATED PARTY DISCLOSURES

There were no related party transactions within the current and prior year.

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the governors as shown in the report of the Governing Body.

22. COMPANY STATUS

The School is a company limited by guarantee. In the event of the company being wound up, the members’ liability is limited to £1 each. There are 12 members (2024: 13).

23. RETIREMENT BENEFIT SCHEMES

Staff Pension Fund

The School operates the following schemes for non-teaching staff:

The IAPS Pension Scheme which is a defined contribution scheme; the school contributes up to 7% of salary and the employees contribute no less than 2% of salary. Total employer contributions for the year were £19,842 (2024: £15,794). Total contributions outstanding at 31 August 2025 amounted to £2,913 (2024: £2,888).

On 1 August 2014 the School also entered into The People’s Pension Scheme in response to the new requirement to enrol eligible employees automatically. It is a defined contribution scheme, with the employer contributing a minimum of 3% and employee currently contributing 5% of salary, as required by the legislation. Total employer contributions for the year were £51,303 (2024: £49,443). Total contributions outstanding at 31 August 2025 amounted to £10,349 (2024: £9,908).

Since January 2022, the School operates the Royal London pension scheme for teaching staff. The Royal London Pension Scheme is a defined contribution scheme; the school contributes up to 17% of salary, and the employee contributes no less than 5% of salary either directly from salary or utilising as a salary sacrifice scheme. Total Employer contributions for the year were £289,235 (2024 - £284,605). Total contributions outstanding at 31 August 2025 were £35,436 (2024 - £nil).

This page does not form part of the statutory financial statements

Page 32