Company Registration No. 00859223 (England and Wale
Charity Registration No. 307852 (England and Wales)
WELLESLEY HOUSE AND ST PETER'S COURT
EDUCATIONAL TRUST LIMITED
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
CONTENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
CONTENTS
Page
Directors and company information
Governors, report
Independent examiners, report
Statement of financial activities
Balanc8 sheet
Notes to the flnancial statements
10-16
Page 1

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
DIRECTORS AND COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
DIRECTORS AND COMPANY INFORMATION
Dlrectors (Governors of the Trust)
P J Woodhouse (Chairman)
Mrs K Fenwick
JMWSale
D Royds
J Jackson
A Land
K Morgan
J Hammond lappoinled 5th June 2024)
G Woodhouse (appointed 5th June 2024)
Secretary and registored office
Mrs 8 A Parsons
Wellesley House & Sl Peter's Court Educational
Trust Itd
clo 6 Knightrider Street
Sandwich
Kent CT13 9EW
Company reglstration number
00859223
Charity reglstratlon number
307852
Independent Audltors
Levicks Chartered Accountants
61 London Road
Maidstone
Kent
ME18 8TX
Sollcitors
Boys & Maughan Solicitors
11-13 Hawley Street
Margate
Kent CT9 1 PZ
Bankers
Handelsbanken PLC
Station Road East
Canterbury
Kent CT1 2BJ
Page 2

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
GOVERNORS, REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Govemors, who are also Directors of the charity for the purposes of the Companies Act and Trustees
for the purposes of the Charities Act. submil their annual report and the independently reviewed financlal
statements for the year ended 30 September 2024.
The financial statements comply with the Companies Act 2006. Charities Act 2011, the Memorandum and
Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice
applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard
applicable in the UK (FRS 102) (Second edition).
ADMINISTRATIVE INFORMATION
The company is an Educational Trust and as such is a fecognised charity, which was regislered on 9 August
1966. The company is limited by guarantee and does not have a share capital.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng documont
The charity is govemed by its Memorandum and Artlcles of Association last amended in June 2015.
Governors
The Board of Governors constilules the Directors of the company. The Ilst of Governors who held office at
the date of this report is shown on page 2.
The Articles of Association provide that there shall be no less than 5 and (unless othe￿ise determined by
Ordlnary Resolution) shall not be subject lo a maximum.
Al the Annual General Meeting one third of the Governors shall rel1￿ from office by rotation. The governors
to retire in each year are those who have been longest in office since their last eleclion or appointment.
A ￿tiring Governor is then ellglble for re*leclion.
Restructure of the Buslness
Following an extensive search lo identify a suitable partner to ensure optimal continuity of education of the
pupils in accordance with its charitable objective, Ihe trustees entered into an arrangement with Haddon Dene
a subsidiary of Alpha Schools (Holdings) Limited.
Under the terms of the Asset PurGhase Agreement {APA}, Alpha Schools (Holdings) Limited is the operator
of the school and 15 the tenant of the estate, which remains in the ownership of the charity.
CoTnplelion of the Iransaction was on 30 September 2021.
Governance
The Governors are responsible for the over311 management and control of Wellesley HoLJ5e & St Peter's
Court Educational Trust Limited and propose lo meel annually unless the Chairman requesls further meetings if
required.
The Truslees (who are also Directors of the charity for the purposes of company law) are responsible for
preparing the Trustees, Report and the Financial Statemenls in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted A¢¢ounting Practice).
Page 3

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
GOVERNORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
From 1 October 2021 the day to day running of the charity was delegated to Mrs Barbara Parsons who also
acts as Company Secretary and maintains frequent contact with the Chair.
All non-regular financial transactions over £1,000 are approved by at least one Director. There are no full time
employees.
The company's Memorandum of Association dated 4 May 1928 (altered by Special Resolution on 25
September 1951) empowers it to invesl and deal with the monies of the company not immediately required.
as il thinks fit.
New Governors are appointed by existing Governors and care is taken lo ensure that all necessary skills
and experience are represented.
Each new Director is provided with an inductlon pack and is expected lo altend one of the regularly available
training courses for new charlty Trustees.
ObJe¢tlves and Actlvltles
The company's principal charitable objectlve is to maintain a school al Wellesley House In Broad5tairs at which
girls and boys are educated and to award bursaries to puplls who could not otherwise afford to attend an
independenl school.
As from 1st October 2021, the charity leases the premises to Alpha Schools {Holdings) Limited which now
operates Wellesley Haddon Dene School.
The Govemors. principal objecllve is to ensure that the estate al Wellesley House continues to educate
children. Under the terms of the APA the school operated by Alpha Schools (Holdings) Limiled will continue
to educate children. The Governors are committed to ensure that the buildings are maintained safely and lo
a high standard and in line with the demands of a leading independent school.
Prlnciple acllvlties of the year
The principal activity of the charitable company during the year was to maintain and carry on Wellesley
House School as an Educational Trust.
Scholarshlps and Bursarles
The Governors view bursaries and scholarships as important and believe that pupils benefit from interacting
and learning with a diverse range of people. As such, il is importanl that access lo th8 education and facilities is
not restricted only to those who can afford the fees.
Wellesley House & Sl Peter's Court Educational Trust Limited does nol benefit from endowment funding and
hislorically has a small amount of investments, which do not generate significant incoming funds.
In reviewing bursary requests, the charity must therefore ensure a balance be￿een fee paying parents, many
of whom make considerable personal sacrifices to fund their child's education and those benefiting from awards.
Publlc Ben8flt
The Governors have given careful consideration lo the Charity Commission's general guidance on Public
Benefit and propose lo continue, as they have in the past, lo award bursaries to pupils who could nol
othe￿iSe afford an independenl education.
Page 4

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
GOVERNORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Estates
The Govemors have entered into an arrangement with a firm of professional surveyors whose remil as to
evaluate the priority areas of the buildings and estate for investment by the tenant and to ensure that the
spending commitment by Alpha Schools (Holdings) Limited is mel over Ihe period of the lease. Since the
acquisition, the professional surveyors have agreed with the tenant a schedule of completed works thal are
considered to be appropriate inveslmenl Ihat will enhance the condition of the buildings and improve the
tenant's ability to recruit pupils, which is important to the charity. The lenant is committed to further
enhancemenl of the main buildings.
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
Financlal Review
Total income for the year was £ 190,231
£130,418 (2023.. £109,950).
(2023: £246,472). Total expenditure in the year was
The overall net movement in funds is a profit of
£59,813
{2023'. £521,563).
As at 30 September 2024 the Charity held unrestricted reserves of £ 5,273.615 (2023.. £5.213,8021.
Reserves Policy
The Dlrectors, reserve policy Is to maintain a suffici8nl level of reserves lo ensure that the Charlty's
continuing activities can be maintained. The Directors consider the current level of reserves held lo be
sufficient.
The reserves balances are reviewed each year to ensure they are sufflcienl lo meet the operating costs for
six monlhs. The Governors believe the level of reserves is prudent and necessary. Should the reserves fall
significantly below the target level. the Trust will aim to restore the reseNes as soon as possible.
Prlncipal Risks and Unc•rtaintles
The Board of Governors are responsible for the management of risks faced by Wellesley House & Sl Peter's
Court Educational Trust Limited and puts in place measures for their mitigation as part of an annual
process. Govemors consider that failure by the tenant lo perform their obligation5 under the APA and lease
Is the key uncertainty for the charity. Governors have confirmed that the tenant has purchased suitable
insurance.
The charity has certain lime limited obligations to the purchaser of the school operations under the terms of
the APA and has a contingency plan in place to meet potential liabilities.
The Governors recognise that a point of contact is required al Wellesley Haddon Dene.
The govemors will continue to work with Alpha Schools lo ensure suitable arrangements are in place to ensure
there is periodic contacl and prevent any risk.
Going Concern
The charity reported a profit in the yearof £ 59,813
on unreslricled funds of £570,603 (2023.. £525.610).
The Governors believe that actions already taken and future actions planned safeguard the charity's
financial viability and will prove successful.
{2023.' £521.563) and has net current assets
Page 5

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
GOVERNORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Govemors have consolidated borrowlng on more favourable terms and considers its relationship with the
bank to be strong golng forward. Future rental income will exceed the loan repayments, with rental
Income being received a quarter in advance from Alpha Schools (Holdings) Limited.
Taklng into account all aspects of the position described above the Govemors believe that the School has,
and will have. adequate resources to continue in operalion for the foreseeable future with the operations
of the school under Alpha School (Holdings) Ltd management. For this reason. they continue to adopt the
going concern basis of accounting in preparing the financial statements.
Looking Forward
The Govefnors anticipate that they will work lo meet the charitable objectives of the company in the same
manner for the foreseeable future. The Governors will supetvise the school's maintenance by maintaining
contact with Alpha Schools {Holdings) Limiled and by regularly visiting the school on agreed dates.
Governors will consider applications for bursarial assistance on a case by case basis from persons
associated with the charity having submitted a means tested application. The Governors. decision to provide
bursarial support will follow an advertised policy.
Trustees, Responslblllll08
The Trustees (who are also Dlrectors of the charity for the purposes of company law) are responslble for
preparing Ihe Trustee's Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financlal slatemenls for each financial year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and applicatlon
of resources. includin9 the income and expenditure. of the charitable company for that period. In preparing
these financial statements. Ihe Trustees are required to:
selecl suitable accounting policies and then apply them consistently;
observe the methods and principles in Charities SORP IFRS 102).,
make judgements and estimates that are reasonable and prudenl.,
slate whether applicable UK accounting standards have been followed, subject lo any materfal
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.
The Trustees are ￿spOnSible for keeping proper accounting records Ihat disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensure that the financlal
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.
Small companles provlslons
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006
applicable lo companies entitled to the small companies exemption.
This report was approved by order of the board.
B Parsons
Secretary
2025
Page 6

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
INDEPENDENT EXAMINERS REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
I report to the charity trustees on my examination of the accounts of the company for the year ended
30 September 2024, which are set out on pages 8 to 16.
Responslbilltles and basls of report
As the charilvs trustees of the company (and also its directors for the purposes of company law) you
responsible for the preparation of the accounts in accordance with the requirements of the Companie
2006 ("the 2006 Act ).
Having satisfied myself that the accounts of th8 company ar8 not r6quired to be audited under Part 11
2006 Act and are eligible for indapendent examination, I report in r8spect of my examination of your
charitys accounts as carried out under section 145 of the Charities Act 2011 (the "2011 Act").
In carrying out my examination I have followed the Direclors given by the Charity Commission under..
145(5){b) of the 2011 Act.
Independent examlnerfs statement
I have completed my examination. I confirm that no matters have come to my attention in connectior
the examination giving me cause to believe:
(1)
accounting records were not kept in respect of Ihe company as required by section 386 of
2006 Acl; or
(2)
the accounts do not accord wilh those accounting records: or
(3)
the accounts do not comply with the accounting requirements of section 396 of the 2006 P
other than any requirement that the accounts give a 'true and fair, view which is not a matt
considered as part of an independent examination; or
(4)
the accounts have nol been prepared in accordance with the methods and principles of th,
Statement of Recommended Practice for accounting and reporting by charities [applicable
to charities preparing their accounts in accordance with the Financial Reporting Standards
applicable in the UK and Republic of Ireland {FRS 102).
I have no concems and have come across no other matters in connection with the examination to wh
attention should be drawn in this report in order to enable a proper understanding of the accounts to I
reached.
J A Griggs
06-May-25
Levicks Chartered Accountants & Business Advlsers
61 London Road
Maidstone
Kent
ME16 8TX
Page 7

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Notes
Unr•$trict0d Restrlctsd
Total
Year
Total
Year
funds
funds
2024
2033
INCOME FROM
Charltable Actlvltles
Rental Income
Giants and Donations
Transfer
Invgstments
171,350
171,350
172,075
2,200
70,242
1.955
18,881
18,881
Total Incomé
190231
190,23..
246.472
EXPENDITURE ON
Charltablo A¢tlvltloS
P￿miseS
Insurance
Loan Interest
Loan Arrangement Fee
Bank Charges
Professional Fees
Independent Examiner Fees
Admini51ralion Costs
General Expenses
Deprecialon
5.229
20,256
52,836
4,500
3281
2,104
1,512
12,000
89
S,229
20,2S6
52,836
4,500
13281
2,104
1,512
12,000
89
{17.9231
19,617
54,704
4.500
478
2,853
1386
12,000
115
32,220
Total expendlturo
130418
130418
109.950
Oth•r Recognlsed Galns
Profil on sale of fixed asset
385,041
Not movement In fund$
59,813
59,813
521,563
Balances brought forward al 1 September 2023
5,213,802
82.061
5,295.863
4.774,300
Balances carried forw8rd at 30 September 2024
5,273,615
82.061
5,355,676
5,295,863
The statement of financial activities includes all gains and losses recngnised in the year. The notes on pages 1010 16 fomi part of
these financial stalemenls.
Page 8

WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
Noto
2024
2023
Flx•d as•ots
Tangible assets
6.160,852
6,192,872
Current ass8t¥
D•btor$: lalling due within
one year
0obtor¥: falllng due after
one year
C8sh at bank and in hand
5.950
5,900
4,500
667,101
677,551
9.000
672,147
687,047
Cr•d5tors= amounts falllng
due wilhln ona year
1106,9481
{161.437
Not curront Ill•bSlltl•sV
570,803
525,610
Total asset# l•B# current
Ilablllllte8
6.731,254
6,718,482
Cr•dltors.' amounts falling
due after one year
8ank loan
11,375,579)
11.422,6191
N•t as88ts
5.355.876
5.295,863
T¢)tMI fiindA
Restdcled
Unreslricled
82,061
5.273,815
82.061
5,213,802
10,11
5,355.076
5.295,863
The note$ on pagè$ 1010 16 form part of these financial stalemenls.
For the year endlng 30 September 2024 the charity w8s entitled lo exemption Irom audit under secllon
477 of the Companies Act 2006 relating to small r￿MpanIeS.
Directors, ￿pSonsIbIlItie3'.
The members have not required the company to obtain an 8udil of ils financi81 slalemenls for the year
in question in accordance with secllon 476.,
- The directors ackr>owledge their re5ponsibilile$ for complwng with the requirement of the Act w7lh respecl
lo acrK)unb'ng records and the preparation of financlal stslements.
These ffinanual statements have been prepared in accordance wlh the provisions 8pplicable lo companles
subject to small companies. regime.
Approved by the Board on
2025
Philip oodhouso
Company number 00859223
Page 9

WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
A Basis of accounting
The accounts have been prepared in accordance with the Companies Act 2006 and the Statement of Recommended
Practice: Accountin9 and Reporting by Charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 1021(Second Edition) and the Financi81 Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 102) and the Charities Act 2011. The financi81 slalements
are prepar8d on the historical cost basis.
The accounts are prepared in sterling, which is the fvnclional currency of the Charity. Monetary amounts in these
financial statements are rounded to the nearest £.
The Charity constitutes a public benefit entity as defined by FRS 102.
The following accounting policies have been appli8d Consistently in dealing with items which are considered material in
relation to the School's financial statements.
8 Golng Concern
The School reported a net movement in funds of £59,813 and has net current assets on unrestricted funds of £570.603
as at 30 September 2024.
The Governors agreèd in 2021 that in the best interests of the charity, that the school be sold lo Alpha Schools (Holdlngs)
Limited. This transa¢lion completed on 1 st October 2021. The land and buildings are retained by the charity and are
leased for 30 years lo Alpha Schools. Following the repayment of the creditor owing to Alpha Schools, the future rental
income wlll be received quarterfy in advance and will exceed quarterly loan repayments.
Taking into account all aspects of the position of the Charity, the Govemors have a reasonable expectation that the
Charity has and will have adequate r8sources to continue in operation for the foreseeable future. For this reason, they
continue lo adopt the going concem basis of accounting in preparing the financial statements.
C Incomo
Rental income receivable and similar 8amed income are creditad lo the Statement of Financial Activities {SOFAI in the
year for which they are due. Defèrred income repres8nts amounts received for future periods and is re18ased to the
SOFA in future periods when the service is provided.
Donations are accounted for as and when entitlement arisès, the amount can b8 r811ably quantified and the economic
b8nefit to the Trust is considered probable.
Gifts of assets and seNices are recognised at the tim8 of r8C8lPt at their value to the charity when the benefit is
reasonable, measurable and quantifiable.
D Expendltur•
Expenditure is accrued as soon as a liability is considered probable. discounted to present value for longer term liabilitiés.
Grants awarded are ￿COgnISed when there is a legal or constructive obligation to pay for expenditure. All costs have
been directly attributed to one of the funclional categories of resources expended in the Statement of Financial Activities.
The Trust Is nol registered for VAT and accordingly expenditure is shown gross of VAT.
Govemance costs comprise the cost of running the Charity, including strategic planning for ils future development.
external audit, and all the costs of complying with constilutional and statulory requiremenls, such as the cost of Directors
and committee meetings and preparing Statutory accounts.
E Tanglble fixèd assels
Tangible fixed assets are stated at cost less depreciation. Depreciation Is recognised so as to wrlte off the cost of assets
less their residual values over their usefvl lives on the following bases:
Freehold land
Freehold buildings
over 50 years on cost
F Assets held for sale
Any property Ihat is actively marketed for sale is included in current assets. Assets are held at the best estimate of the
sales price less costs to sell.
Page 10

WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
G Debtors
Trade and other debtors are recognised al the settlement amount due afler any trade discount offered. Prepayments are
valued al the amount prepaid net of any trade discounts due.
H Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity ofthree
months or less from the date of acquisition or opening of the deposit or similar account.
I Credltors
Creditors ar8 f8COgnised where the Tmsl has a present obligation resulting from a past event that will probably result in
the transfer of funds lo a third party and the amount due lo settle the obligation can be m8asured or estimated reliably.
C￿dItOrS are nomally recognised at their s8ttlern8nl amount after allowing for any Irade discounts due.
J Fund Accountlng- unrestrlcted fund8
Funds held by the charity are either-
Unrestricted general funds
These are funds which can be used In accordance with the charitable objects at the discretion of the Governors.
Unrestricted designated funds
These are unrestrictèd general fvnds set aslde by the Govemors for a Specific purpose.
K Fund Accountlng - restrlcled funds
Reslricled funds arise when the donor spècifies how their donation should be spent or by the temis ofan appeal. Further
detail can be seen in Note 11.
L Taxatlon
Th8 School is a registered charity and its income is not liable to taxatlon as it is applied lo wholly charitable purposes.
M Flnanclal Inslrument8
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic
financial instruments are initially recognised at transaction value and subsequently measured at their selllement value
with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
The Charity has selected to apply the provisions of Section 11 '8asic Financial Instruments. and Section 12 '0ther
Flnanrial Instruments Issues. of FRS 102 to all of its financial instruments.
N Crltlcal accountlng Judgements and key source8 of èstlmatlon uncertalnty
The preparation of Ihe financial statements in accordance with FRS 102 requires the trustees to make estimates and
assumptions conceming the future. The estimates and assumptions Ihat could have a significant risk of causing a
material adjustment to the carying amounts of assets and liabilities within the next financial year include accruals,
depreciation. freehold building residual values and revenue recognition. The accounting in these areas of the accounts
requires management to use judgement.
In relation to accruals this is a best eslimale of costs that will be incurred basod on contractual requirements.
For depreciation these estimates ar8 driven by the useful economic life of the associated assets.
1 Income recelvable
2024
2023
Fees receivable consist of=
Rental Income
171,350
172.075
Page11

WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2 Grants and donatlons
2024
2023
Donations
2,200
3 Investment income
2024
2023
Interest r8C8ivabl8
18,881
1,955
4 C08t of ralslng funds
2024
2023
Interest payable
52,836
54,704
5 Employees
There arè no employees.
No Director received any remuneration during the year12023- nill. Durlng the year £ nil was reimbursed lo Oirectors for
èxpenses12023: nill.
6 Analysls of Premlse8 Costs
2024
2023
utililies
Repairs
Business Rates refund
665
1,429
20,017
{17,923}
5,229
5,229
7 Tanglble flxed assets
2024
Freehold
land &
buSldlngs
Cost or valuatlon
1 October 2023
Additions
Disposal
6,524,032
30 September 2024
6,524,032
Depreclatlon
1 October 2023
331,160
Charge for the period
32,220
30 Septembor 2024
363,380
Net book value
30 September 2024
6,160,652
30 September 2023
6.192.872
Page 12

WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
8 Debtors
2024
2023
Due wilhin one year..
Trade debtors
Prepayments and accrued income
Loan Arrangement fee
1,450
4,500
1,400
4,500
5,950
5,900
Falling due after one year:
Loan Arrangement fee
4,500
9,000
g Credltor8 falllng due wlthln one year
2024
2023
Amounts falling due within one year:
Amount owing to Alpha Schools
Bank loan
Other creditors and accruals
25,208
47,634
34,106
82.045
46,321
33,071
106,948
161,437
Credllors falllng due ovor ono year
2024
2023
Bank loans
1,375,579
1,422,619
Bank loans are analysed as follows:
2024
2023
Over five years
Within Iwo lo five years
Within one to two years
Within one year
1,206,725
122,921
45,933
47.634
1,423,213
1,248,979
126,006
47,634
46.321
1,468,940
The amount owing to Alpha Schools Ltd cons5sts of the apportionment sale balance of
{2023.. £81,208)
25,208
During 2021 the Charity refinanced with Handelsbanken PLC
The loan is fixed for 5 years at an interest rate of 3.670/0 per annum, comprising the core fixed rate of 1.37010
plus a margin at 2.3 %.
The total outstanding at year end was
£1,404,994 12023: £1,440,666).
During 2020 the Charity secured further loan funding in the fomi of a Bounce Back Loan of £50,000.
The fixed interest rate is 2.50h and the loan is repayable in instalments.
The totsl outstanding at year end was
£18,219
(2023.. £28,274).
The loans are secured by fixed and floating charges over the freehold land and buildings and assets of the school.
Page 13

WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
10 Funds
At
1 O¢lober
2023
Income
Expendlture
At
30 Septèmber
2024
Reslricled
Bursary Appeal Fund
82,061
82,061
82,061
82,081
Unrestricled Funds
General
5.213,802
190,231
(130,418
5,273.615
5.213,802
190,231
1130,418)
5,273,615
Total unrestricted funds
5,295,863
190,231
(130.418)
5,355,676
Total funds
Previous designatlons regarding bursaries and improvements to the buildings have been superceded following the
transfer lo Alpha Schools. Therefore all unrestriclod reserves of the charity are held at the Trustees, discretion.
Th8 Bursary Appeal Fund account is for funds receied from past pa￿ntS as donations so tho Charity can offer
financial assistance with the award of a bursary.
At
1 Oclobor
2022
Income
Expendltur•
At
30 SoPt•mb•r
2023
Réslric
Bursary Appeal Fund
11,819
70,242
82,061
11,819
70.242
82,061
Unr
triclad Funds
General
4.762,481
561,271
{109,950)
5,213,802
4,762,481
561,271
(109.9501
5,213,802
Total unrestrfcted funds
Total funds
4,774,300
631.513
1109,950)
5,295,863
11 Analysls of net assets belween lunds
Unre8trfcted
2024
Restrlcted
2024
Total
2024
Total
2023
Tangible fixed assets
Current {liabililies}lassets
Long tem liabilities
8,160,652
488,542
(1,375,579)
6,160.652
6,192,872
570,603
525,610
{1,375,5791 {1,422,6191
82,061
5,273,615
82,081
5,355,676
5,295,863
Analysls of net assets between funds {2023)
Unrestricted
2023
Restricted
2023
Totsl
2023
Tangible fixed assets
CLJrrent Iliabilitiesllassets
Long term liabilities
6,192,872
443.549
1,422,619
5,213,802
6.192,872
525.610
1,422,619
5.295.863
82,061
82.061
Page 14

WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12 Related Part1•8
There were no other related paty transactions in the y8ar (2023.. none) .
13 Investment in subsidiary
The charity is thè sole shareholder in Wellesley House School Enterprises Limited, a trading company incorporated in
Aprll 1994. The company has not traded to date and is a domiant company.
14 Reorganlsallon of the buslness
On 30 September 2021 Wellesley House and Sl Peter Court completed on the sale of the assets of the business to
Haddon D8n6, a subsidiary ofAlpha Schools (Holdings) Ltd. This was announced to the staff, parents, pupils and other
slakeholders in October 2021. The transaction completed on 1 October 2021. At that date the trade and assets W8r8
transferred in return for an annual lease premium. A number of propertl8s, associat8d108ns and cash balances have
been retained and may be used to generate income in Ihg future.
As at 30 September 2024 £25,208 (2023 £82,044) was owing to Alpha S¢hools.
Wellesley House and St Peter Court wlll conlSnue to exist as a Charitable company limited by guarantee.
Page 15

WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
15 Comparative information
Unr8Stricted
funds
Restricted
funds
Total
2023
INCOME FROM
Charltable Actlvllles
Rental Income
Grants and Donations
Transfer
Invèstrnents
172,075
2.200
172,075
2.200
70,242
1,955
70,242
1,955
Total Incom8
176,230
70.242
246.472
EXPENDITURE ON
Raising fund8 Charltabla ActlvllSes
Premises
Insurance
Loan Interest
Loan arrangement fee
Bank charges
Audit & professional fees
Independent Examiner Fees
Adminislralion costs
General expenses
Depreciation
(17.923)
19,617
54,704
4,500
478
2,853
1.386
12,000
115
32,220
117.923}
19.617
54,704
4,500
478
2,853
1,386
12.000
115
32,220
Total •xp•ndlturo
109,950
109,950
Othor Recognlsed Galns
Profit from salo of finxed asset
385,041
385,041
Net Income
451,321
70,242
521,563
Funds brought forward at 1 October
2022
4,762,481
11,819
4,774,300
Funds cathed foNard at 30
September 2023
5,213,802
82,061
5,295,863
The statement of financial activities includes all gains and losses recognised in the year. The notes on pages
10-16 fomi part of these financial statements.
Page 16