Company Rggistrabon No. 00859223 {England and Wal88) Charity Registration No. 307852 (England and W818sI WELLESLEY HOUSE AND ST PEfER'S COURT EDUCATIONAL TRUST LIMITED REPORT AND FINANCIAL STATEMETrIts FOR THE YEAR ENDED 30 SEPTEMBER 2025
WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED CONTENTS FOR THE YEAR ENDED 30 SEPTEM8ER 2025 CONTENTS Pago Dlrector8 and company Infomation GovemDrs' report Independent examineTS' report Statsment of flnandal acti8$ Balance sheet Notes to the financl81 statements Pag8 1
WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED DIRECTORS AND COMPAMY INFORDIATION FOR THE YEAR ENDED 30 SEPTEMBER 2025 DIRECTORS AND COMPANY INFORMATION Dlrgctors {Govgrnors of the Trust) P J Woodhouse Ichalrmanl Mrs K Fenwck JMWSal8 D Royds J Jackson A Land K MoTg8n J Hammond G Woodhouse Secretary ar reglstored offlco Mrs B A Parsofts Wellesley House & St Pelerfs Court Educational Trust Limited Jo 6 Kn'.ghtrid8T Slr6et Sandwich Kent CT13 9EW Company reglstratlon numbw LlJ859223 Charfty reglslratlon numbgr 307852 Indepondont Examlngr J. A Griggs Levicks Chartered Accountants 61 London Road Aldstone Kent ME16 8TX Solicltors Boys & Maughan Solicitors 11-13 Hawley Stre8t Margate Kent CT9 1 PZ Bankors H8ndelsbanken PLC Station Road East C8nlerbury Kent CT12BJ Page 2
WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED GOVERNORS. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The GovemDrs, who are a150 Dlrpctors of the chartty lor the purposes of the Companies Act and Trustees for the purpos8s of the Charities Act, submit their annu81 report and the Independently Temewed financial statèments for the year ended 30 Sepl8mber 2025. The financial slalemenls comply with the Companies Act 2(KJ6. ChatieS Act 2011, Ihe Memorandum and Articles of Association and Accounting and Rewrb'ng by Chariiles.. Stslempnt gf Recommended Prdclice appllcabbe lo charitles preparing their accounts In aCc0Tdan wth the Financial Reporting Stsndard applicable in the UK IFRS 1021 Isewnd edonI. ADMINISTRATIVE INFORMAnoN The cc>mp8ny Is 8n Educallonal TTUSt and as such is a recognised charity, whlch w8s r8glstered on 9 August 19e6. The company is litnited by guarantee and does not have a share capstal. STRUCTURE, GOVERNANCE AND MANAGEMENT Govornlng documerbt The charfty is governed by Its Memorandum and Artides of Association last amended in June 2015. Govemor5 The Board of Gc)vemors con5titut8S the DirectOTS of Ihe COTnpany. The list of GDV8rnors who held offlce at the dale of this report is shown on page 2. The Articles ofAssocl8tion prowde that there shall be no less than 5 GovemoTS and {unless otherwise determinGd by Ordinary Resolution) shall not be subject to 8 maximum. At the Annual General Meeting one third of the Govemors shall relirg from office by rotation. The &ivernors lo retire in each yè8r are those who havp been longest in office Sin Iheir last election or appolntmenl. A retiring Govemor is then eligible for r&electlon. Restructure of the Business Following an extenslve searth to IdentY a suitable pather to ensure optimal continuity of education LTrf the puplls In accordan with ils thoritable objecltve, the trustees entered Into an arrangemènt with Haddon Dene subsidiary ol Alpha Schools IHDldingsl kn"mited. Under the 18rn1s of the Asset Purchase Agreemant IAPAI. Alpha Schools IHoldingsl Llmited Is the opeTalor of the school and is ihe tenant of the estate, which ramains In the ownership of the charity. Completion of the trans8Ction was on 30 Septemtw 2021. Governan The Governors are responsible for the overall management and control of Wellesley House & St Peterfs Court Educational Trust Limited and propose to meet annu811y unless lh8 Ch8lmian Twuests ftjrther meellngs required. The Tnjslees Iwho are also Dirgctors Df the charity for Ihe purposes of company law} are responsible for preparing th? Trustees, Report and the Financial Statements in accordance v4ith applicable law and Unlted Kingdom Accounting Stsndards Iunlled Klngdom Generally Accepted Accountsng Practice). Page 3
WELLESLEY HOUSE AND ST PETER'S COURT EDUCAnONAL TRUST LIMrrED GOVERNORS. REPORT FOR ThE YEAR ENDED 30 SEPTEMBER 2025 From 1 October 2021 the day to day Tunning of the chaity was delegated lo Mrs Barbara Parsons who also acts as Company S&crgtary and maintains frequ8nt contact wth the Chair. All non.regular financial transactions over £1,000 are approved by al least on8 Director. Th8r8 aT8 no full lime employees. Th8 companYs M8morandum of ASsatIOn dated 4 May 1928 (altered by Special Resolution on 25 September 1951) empowers It to Invest and deal the moni8s of the company nDt immediatety requlred, os11 Ihlnks fit. New GDvemors are appoSnted by esting Govemors and c8re is tsken l(J ensure that 811 nocessary skllls and experfenc8 are represanted. Each new DlrectOT is provided an induGUon pack and is expected lo attend one of the regularfy avallable training tsJurses for new chadty Trustses. Objectlves arKI Activitie¥ The companls prtnc5p81 charft8ble obj8ctiv8 is to maintain a school at Wellesley House in Broadstair5 al which girls and boys are educated and lo award bursaries to puplls who wuld nol otherwise afford ID attend an independent sctml. As from 1st October 2021, the challty leases the premlses to Alpha Schoo'ls (Holding51 Limited which now operates Well8sley Haddon Dene School. Th8 Governors, principal objectiv6 is to onsure that the estate at Welles5ey House continues to educate children. Under the teTms of the APA the school operated by Alpha Schools (HOldis} kn"mlled wlll conttnue lo educate ch11dren. The Gov8rnors ar8 MMitr8d ID ensure that Ihe buildings are maintained safely and to a hTgh standard and in line wth the demands of a leadlng Independent school. Principle activitios of the y6ar The principal activTiy of the charitable company durfng the year was to maintain and cary on Wellesley House Schrjol as an Educational TTUSI. S¢holarshlps ond Bursaries The Govemors view bursaT7es arKI scholarships as important and believe Ih8t puplls benefit from Interacllng and leamlng wlth a dlverse rang8 c)f peopl8. As such. it is important that access to the education and facilities is not restricted only to those who can afford the fees. Wellesley HDuse & Sl Peterfs Court Educational Trust Limitsd does not bongfit from endowment fundlng and hSstorically has a sm811 amount of Snv@strn&nls. which do not generate signifitrdnt incoming funds. In reviewing bursary requests. the charity must therefore ensure a balance between fee Pang p8rgnts, many of whom make considerablo personal sacrtllces lo fvnd their child's education and those benefiting from awards. Public B8nèfft The Govèmors h8V8 glv8n Careful consideration tr) Ihe Charity Commission'5 geneTal guidance t)n Public Benefit and prDPDse lo continue, as they have in the past, lo award burs8ri8s lo pupils who could not otherwise afford an Independent education. Page 4
WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRUST LIMITED GOVERNORS. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Estates The Governors have ?nteTed into an arr8ngemeYl wh a Ilmi of PTofessional surveyors whose r&mil as to evaluate the pyorfty areas of the buildings and estate for invesbment by the tenant and to ensure that thè spending commTtment by Alpha Schools {Holdingsl Mited is met over the perioLI of the lease. Slnce the acqulsiliDn, the professional surveyors have agreed vAth the tenant 8 schedul8 of completed works that are consldered to be appropriate inv0Stmenl Ihal will enhance the condition of the bulldlrtgs and Improvo th8 tenant's ability to r8cruil pupils. which is Important to the charlty. The tenant 15 committed to further enhancement of the maln bulldlngs. FINANCIAL REVIEW AND RESULTS FOR THE YEAR Flnanclal R•vlew Total income for the year was £ 198.602 £130,781 {2024.. £130,418). (2024-. £190.231}. Total èxpendllure In the year wa8 The ovarall net movement In funds is a profft of £67,821 12024.. £59.813}. As at 30 September 2025 the Charlty held unrestrcted reserves of £ 5,341.436 12024: £5,273,615). Reserves Pollcy The Directors, reserve policy is to maintain a sufficient level of reserves to en5UTe that tho Ch8riVs contlnuing activlb'es can be maintained. The Dlreclors consider th& current level of reserves held to be sufficient. The reserves bal8nces are rewewed each yearto ensure they 8r8 strffityent to meet the operating costs for slx months. The Governors believe the level of reserves is prudent and nècessary. Should th8 resoNes fall signific8ntly below the target levd, the Tru5l will aim to restore the reserves as swn as possible. Prlnclpal Rlsk$ and Uncertainties Th8 Board of Governors are responsible for the managemenl of risks laced by Wellesley House & St Peter's Court Educaonal Trust Limited and PLJts in place measuTes for their mitigation as part Df an annual process. Governors consider that failure by the tenant to p8rf0rn) their obligalions under the APA and lease 15 the k&y uncertainty fDr the charfty. GovemoTS have conFmed that the tenant has purchased suitable Insuranc8. The chaTIty has certain t'me limilad obligauons to the purchaser of the school operations under the t8rFns of the APA and has a Contingen plan in place to meet poten81 liabiltties. Th8 Govemors recognise that a point of contact is tequlred at welleeY Haddon D8ne, The govemoT5 wll continue to woth WTth Mpha Schools to ensur8 suitable arrangements are1n place to ensure thère Is pericKlic contsct and pr2venl any risk. Going Concern The chadty r&port8d a PTDfft in the year of £ 67.821 on unrestricted funds of £624,711 12024.. £570,603). The GoverDor5 belleve that acb'ons already taken and fubjre actlons planned safeguard the charitls financial viablllty and wll prove succ6sslul. (2024- £59.813} and has nel curront assets Page 5
WELLESLEY HOUSE AND ST PETER% COURT EDUCATIONAL TRUST UMITED GOVERNORS. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Govemors have n$051daled borrn9 on more favourable terms and consldeTS Ils relationshlp with the bank to be strong going foTward. Future rental incoTne wll eXd the loan PaYMents, with rental incom8 b8ing received B quarter in advance from Apha Schools (Holdings) Limited. Taking into acoount all aspects of Ihe position described above the Govemors beli?ve Ih81 the School has. and will have, 8dequ8le rosources to continue in op8ratiDn forth8 fores8e3bl8 fuknT& with tho oporatlons ol the school under Alpha Schod (Holdings} Lld management. For this Teason. they Bontinue to adopt the golng concern ba51s Df ac£ounllng In prepadng the finand81 statements. Loong Forward The GDvemors anlicipale that ty will WOFk to meet the chaii.table objectives of Ihe company in th8 5am8 mann6r for the fo38Q8ble futuw. The Govemors wlS1 supeNse thè school's malntenance by malnlalnlng contact with Alpha Schools (Holdings) Limtted and by regularfy $ting the school on agreed dales. (*vernors wlll consider applications for bursarlal ass'.stanc8 on a (sse by case basls from porsons associated with the charity hamng submitted a means tested application. The Governors, decision to prod& bursadal support wlll follow an advertlsed pollcy. Truste. Responslbilltl8S The Tnjslees Iwhg are also DirKlprs of the charity for the PUTposes of MpanY1?w) aro responsible fgr preparing the TrJst88's Report and the financial ststemgnts in accordanc8 wth 8pplic8ble18w and Unlled Kingdom A-counting Standards (United kn'ngdom Generally Accepted Accounting Practice). Company law requlres the Trvslees lo prepare financial statements lor each fin8nclal year which glve true and fair wew of the stste of affairs of the ch8ritable Gompany and the incoming resources and applicatitsn of resources, Including the income and expenditure. of the charflable company for that periDd. In prarIng these flnanclal statements, the Trustees are requlred to.. select suitable accounting policies and then apply them consistently., obseNe the methods and prinaples In CharTties SORP IFRS 102}', make judgemer)ts and estimates that are reasonable and prudent., ststs wheth&r 8pplie8ble UK 8C¢Dunting standards hav8 been lollowed, subjocl to 8ny material departures disclosed and explained in the financial statements.. prepare the flnandal stalemenls on the golng c0M basls unless11 Is Inappyidate ID presume that the charity wll continue in bu51ness. Th8 Trusle8s aT8 rasponsibl8 for kéeping prop8r accounltng records that disdose wlth roasonabl8 accuracy al any time the financial position of the charttable company and enable thèm to ensure that the flnancial slalemenls comply wlth the Companies Act 2006. They are also respr)nslble for safeguarding the assets of the haritable cornpany and hence for taking TeasDnablp steps for the prevention and detecuon Df fraud and other iffagularlti8S. Small companl&s provlslons This rgport has boen PT8par8d in accordance the special prowisions of Part 15 of the Componies Act 2006 applic4ble lo companie8 entitled to the small companSes exomption. This report was approved by order of the bo8rd. B Parsons Secrètary 6th March 2026 Page 6
WELLESLEY HOUSE AND ST PETER'S COURT EDUCAnoNAL TRUST LIMITED INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 report lo the chaThty trnstees on my examination of the accounts of the company for the year ended 30 Septèmber 2025, whlch 8re sat on pag&s 8 to 16. Rg$pon$lbillties aNJ basls of roport As the charfty's tnJst88s of the company (and also tts directors for the purpos8s of company lawl you arg responsible for the preparation of Ihe accounts in accordance wilh 1he requirements Df the Cornpanies Act 20061"Ih? 2006 Act"). Having satisf18d myself that Ihe accounts of th8 company are not required to be audited under Part 16 of th8 2006 Act and are ellglble for IePendent examination. I report in respect of rny exaTnin8tson of yDur harlty's acunIS as caTried out under section 145 of Ihe Charilles Act 2011 {th8 '2011 Act"). In carrying Dut my 8xamination I have followed the directions given by the Charity Commlsslon under sectign 1451SMbl of the 2011 Act. Independent examiner statement I have completed my examlnation. l Confinm thal no matters have me to ny attention in conn&cllon wlth the examination giwng rne cause to believe.. accounting recL¥rds were not kept in respect of the company as required by section 386 of the 2006 Ac( or {21 the accounts do not accord with those ac(x)unUng recofds., or 131 fhe accounts do nol comply thg a(%ountiTrJ requiTemenls of secuon 396 of the 2006 Act other than any requlrement that the accounts gNe a Irue and fairf which is not a matter onsidered as part of an independent examin8tion', or 14} the accounts have not been prep8r8d in accordance wlth the methods and prinpIeS of the st8lemenl of RecommeThled Practice for aOUnting and TepK)rting by charities applicable lo charities preparing their accounts In aordanCe with th8 FinanrAal RepoTtlng Standards applicable in Ihe UK and Republic of Ireland (FRS 102). I have no concerns and have com8 across no otheT matteTS in connedton wlh the examinauon lo whlch 8ttention shoLJld be drawn in thls report in order to eT)able a proper understanding of the accounts lo be reached. J A Grlggs LÈvick$ Chartered Accountants & BUSIn Advisers 61 Ltsndon Road aidston8 K8ril ME16 8TX 12 Mgr¢h 2026 Page 7
WELLESLEY HOUSE AND ST PETER'S couirr EDUCATIONAL TRUST LIMITED STATEMENT OF FINANCIAL ACTpirrtES FOR THE YEAR ENDED 30 SEPTEMBER 2025 Total Totryl Year Funds Funds 2025 2024 INCOME FROPI Ch&tabl0 Actlvltt•S Rental Incotn Granlg and Donations Tnsfer Invgstmonts 176,697 170,fj97 171,350 21.905 21,gDS 18,881 Total Incom¢ 198.602 198 602 190,231 EXPENDITURE ON Charftablo ActMIIo5 Pwmlses Insurancè Loan Intest L08n AryarvJ8rn8nt F88 B8nk Charg88 Profgsslonal Fe88 Yep8ndent Exarnlner Fees Adminlstslion Costs General Expenses Depreciaton 1,492 21,408 51,398 4,500 365 5.648 1.614 12,000 136 21.408 51,398 4,500 365 20,256 52,836 4,50D 13281 2,104 1512 12,000 89 32,220 1,614 12,000 136 31220 Totsl 0xponlt 130.7B1 130,781 130.418 0th6r Recogni5ed Galn5 Profit on sale of fixgd asset Net m0M•t In 67,821 6T,821 59.813 Balantss broughtforward at 10(*ober 2024 5273&15 82N61 5,355,678 5,295,8 Balances C8Tri8d foTvaTd 8t 30 septembBr22S 5J41A36 B2.061 5N23,497 5.355 87e The 5tstemenl of finanal aLtIeS i[ue5 all gain5 aj hx5e5 rec4)gni5Bd in the ygar. The nD(&5 on 10 10 18 form part of th85e financi21 stat&m8nt8. Page 8
WELLESLEY HOUSE AND ST PETER'S COURT EDUCATIONAL TRLIST UMITED BALANCE SHEET AS AT 30 SEPTEMBER 2028 2025 2024 Flx•d a$s•t$ Tanglble a88ets 6,128A32 6.160ffj52 Current a88et8 DebtDrs.' falllng due wlthln ofie year Dvbtor8.' falllng due after oftp ye8r Cash at bank and In hand 5.95CI 4,500 667,101 677.551 703.872 708,372 ¢r•dltor•'. emounts lIng du8 wlthin one year 183.6611 1106.948} NBt currenllllBbtiitlgsy a8BalB 624.711 570,603 Total astsats18&s eurrnnt Ilabllllltss 6.753.144 6.731255 Cr8dltor8: arnounts f8111ng due after on8 year 8ank loan {1J29,646} I1,3757) Not a888ts 6,42JA97 5J55.876 TnlAI ftJnrlA 81061 5.341,436 62,U61 5.273,616 Unr88triGt&l 5.423h97 5,355,676 The nole5 on pagss 10 to 16 form partoflhe5e finanoal staleryswts. For the year ondlw 30 Sgptember 2025 thatttywas to ÈxompiTon from audltunders8cti( 477 of the Compani$s A¢i2006 rokung to small tompani89. Dir&Gtors' repsonsbilthe$.' -The m8mb8ts ha not r8quira th8 wmpany1D oblaln an 8J0f Ils finand81 stst8ments lor th8 y In quttlon'n accordanc8 With sethon 476., - Thè dlrecth ad(nOledge Ihelr reSpOnbIlIteS tsr cOmpTra th the r8quIrneLOf theArt*ith resp1 to accoun¥ng records and the preparalon of finanual statements. Th888 flnanclal Stst8mts have been prer9d In accoThlBncelth the vovn5appllCSle to o)mpanie5 subject to sm811 cJ)mpail85' regirno. 4DpfDvBd bythe Board on 6th Vorth 226 PhlllpWtsodh¢)uÈè Company numb¢r 00859223 Pago 9
WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMrtED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 A Basls of •ecountlng The accounts hava b88n pr8parèd In accordance wlth the Companles Act 2D06 and the Stst8m8nt tsf R8comm8ndad Praclic8-. Accounting and Reporting by Ch8Tib88 prepariry thei". accouTrts In accordance wth the Financial Reporting standard applicable In the UK and RepublSc of IreAnd IFRS 102XSecond Edrfonl and thè Flnanclal Reportlng Standard ppllcablè In thè un£d Kingdom and Rèpubli¢ of Irg18nd IFRS 10218nd th& Charibès Act 2011. The flnanclal Btat&ments are prepaT8d on the hlstorical cost bas. The accounts are prepared In sterflng, [ch is the fijnctional currency of tha Charity. Monetary amounts In thas6 financial 5181gments are rounded to the nearest £. The Charlty constittrtgs a publlc benefft entity as defined by FRS 102. The follDwing accoUnng policies have been applied o)nsistenUy In deali with Items ¥thich are cansidered material In relalion to the financial statsrllents. B Golng Concern The ChaTity reported a net movemenl in fvnds of £67.Kd1 and ha5 net CUTrent assets on unrestrtcted fijnds of £624,711 s at 30 September 2025. ThB Govemors agTe&d in 2021 that in the best inlorests of the Charity, that the School be sold to Alpha Schools IHDldingsl Limited. This transaction completed on 151 October 2021. The land and buildlngs are relained by the Chorfty and are I8d for 30 ygars to Aph8 Schools. Followrvj thg repaymenl of the cr8dilor owing lo Alpha SGhoDls, the fvtur6 rental income will be receNed quartefiy in advan and wll exceed quarterfy loan repayments. T8king into 8¢count all aspects of the p)sition of the chaty. th& GovemorB have a reasonabl8 expgctalion thatthe Charity has and wll have adequale r2sDurces to continL in operation forthe foreseeable future. For this reason, they continue lo adopt the going ¢on¢eTn basis (>f ac¢ounting in prèparing the ffinan¢ial slalements. C Incomg Rental income recelvable and sSmllar eamed Income are CTedited to the Statem8nt of Flnanclal Actlvltl6s ISOFAI In the year forwhich they are due. Deferred income represeTts amounts r8ceNed for fvknTe TIOdS and is released lo the SOFA in futUTe periods en Ihe sece Is pThided. Donations ar9 accounted for as and when enttilement arise5, the amount can be rdiably quantffied and the onoMIC b6nefit to thè Trust Is consld&rèd probablè. Gms of assets and servlces are recognised al Ihe tlme of reIpt at thelr value to the Chartty when thè benèfft 16 r8agDnablè, m8asurÈbl8 and quantrhab, D Expendltur¢ Expendlture Is accru as soon as a IlabilNy Is consKlered probable. dlscounted tr) pres&nl value for ltsngertsrm li8blliUès. Gr8nl$ awarded are recognised when IheTe is a legal or constructive oblualion to pay for expenditure. All costs hav8 been dIrecY attribuied lo one ol the fundonal categories of resoures expended in the Stslwnent of Fingn¢ial A¢tivities. Thè Tnjst is not rogi8tered forVAT and a{r1ng1Y eynditurg 18 shv•ffl gross of VAT. GovemanGe ¢05ts tho cost of running the Charity. induding 5tratsgic planning for ts future development, extemal audit, and all the costs of complying wth constitutional and stabjtory reqU1Ments. such as the cost of Dlrectors and crJmmSttee mgdNJs and preparfng ststutory a¢¢ounts. E Tanglble flx?d assets Tangible fixed assets a stated at le d&preclation. DePtiatr"0 is reTr)gnised so as to write off the c(t of as8els 18SS thèir residual values over their useful Iiv8s on the followng ba888'. Freehold land Freehold buildiws over 50 years on Cost F As$ts h•ld for $al¥ Any pit)pety th8t is actively markstgd for¥ale is induded in culnI assgts. Assets ar8 hold 81 tho best èsfjmate of the sal&s price less costs lo sell. Page 10
WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMrrED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 G D•btors Trade and other debtors are r8CLxJnised at the 8etUemgnt amourt due aftgr any trade discounl offered. Prepayments ar6 valued al the amount prepaid net of any trade dSscounts due. H Cash at bank and In hand Cash al bank and cash in hand indudes cash 8nd Short lem hKJhty liquld invesbnents with a short maturtty ofthreo months or from the dale of acqUIsOn or openiTrJ of the deposit or Similar account. I Crodltors Creditors are recognised where the Trust ha8 a pre58nt obligatK)n TBsulting from a past evenl that 11 probably sU11 in Ihe transfor offijnds to a thlrd paty and the amount due to setle the obligation can be mtsasured or estimated roliabty. Creditors are nomalty re¢(KJni8ed * thwr setuoment amount after allowng for any trade discounts due. J Fun(1 Accountlng- unr•strlct•d funds Funds h81d by the Ch8rtLy are either. Unrestdcted geieral fvnds These are fvnds vthich can be used In a¢cordan¢& the ¢harftablo objecls al the discretion of the Govemors. Unre5trtcted dgsignated funds Thesè ar& unrestiicted general fund5 set aside by the Govemors fora specrfic purpo88. K Fund Accountlng- restTlctsd fvnds Rgthctgd lunds 8rtse Mthen the donor specffies howtheir donation Should be spent Dr by the tsrms of appeal. Further detail can b8 seen in Nots 11. L Taxatlon Th8 Trust is a r8glst&r8d Charfty 8nd Income Is not liable to taxation as il is applied to OllY chaTitable purpD5es. M Financlal In8truments Tho ChaTty only ha5 finand81 assets and flnandal Ilabllllles of a klnd that qualfy as bagc ffnancial instwmènts. Baslc flnancial instruments are inthally rec(yJni8ed at transathon valuè and subs&qu6ndy meaSUd at their setuement value th thè exc&ptlon ol bank loans vthich a subsequently measured at amoThsed c4)st using the effoclNe interest mathod. The Charity has 8elecled to apply the provtsions of S&cbon 11 Baslc Flnanclal Instruments, and Section 12 '01her Flnandal Inslruments Issues, of FRS 102 to all of its flnancial irthmerts. N Crltlcal accountiftg judgèmènts #nd k•y SoUrS of •slmarfon unc•rtalnty The PTepaTatwJn of the financial statemerrts in accordance wllh FRS 102 requires Ihe twstees to make estimate8 and assumplSons concerning the future. The estsmates and assumptions th81 could hav8 8 significanl risk of Causing a matedal 8dju8trnont lo tho carying amounts of assets and liabillties vithin the next nanal year Include accru815, depreclation, freehold building rgstdual walu8s 8nd wenue reCognon. Th& accounung In th6s6 areas of the accounts rèquiras m8nag&menttO US8 ludgament. In relation to accruals this 18 a best estimats Df cDsts that wll inGyr based on contracbjal requlTernent5. For (tgprecialK)n these eslmates arè drlven by the usefijl economic life of Ihe as8oci8led a88ets. 1 Income recelvable 2025 2024 Faes r1Vable consi%t of: Rental Income 176,897 171,350 Pag611
WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2 Grants and donatlons 2025 2024 Donations 3 Investment IncomB 2025 2024 Interest recelvable 21,905 18,881 4 Cost of ral8lng funds 2025 2024 IntaTg8t payable 51,398 52,$36 5 Emplo>po$ There arè no èmploye. No Dirertor received any remuneTation during the year12024". nill. DvrirvJ the y8ar £ nil was rèlmbursad to DlrectorB for oxpens8s12024'. nlll. 6 Analysls of Premlses costs 2025 2024 uuiit188 Repairs Bu8lness Rates refund 1,492 5,229 1,492 5.229 7 Tangiblo flxod a$5èt9 2025 FTBehold land & bulldin9S Cost or valuatlon 1 Octob8r 2024 Additions Dlsposal 6.524É032 30 September 2025 6.524,032 Depreclatlon 1 Oclobor 2024 363,380 Chargè forth8 p&rtod 32,220 30 Sopl¢mbtsr 2025 395,600 Nèt book valuè 30 September 2025 6,128A32 30 Seplerrbber 2024 6,160,652 Pagg 12
WELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 8 DgbtorB 2025 2024 Oue ¥thIn on& year. TTade debtors Prep8ym6nls and accrued income Loan ATran9eTnenl fee 1,450 4.500 4,500 4.500 5,950 Falllng due after onè year. Loan Arrangement fee 4,500 9 Cr•dltors falllng du• wlthln on• or 2025 2024 Arnounts falling duo wtthin one year. Amc*unt ng to Alpha Schools B8nk108n other Greditors and accruals 25,206 47.634 34,106 46.270 37,392 83,661 106,948 Credltor8 falllng due over one ar 2025 2024 Bank108n¥ 1.329.646 1,375.579 Bank loans are anatysed as follows-. 2025 2024 OvgT ve years Wlthln two to fiv8 yea Wllhin one lo iwo y8a Wlthln one year 1,206,725 83,227 1,206,725 122,921 45,933 47,634 1,423,213 4fj,270 1.375.917 Thè amount owng to Alpha Schools Ltd consists of the apporuonment sale balanc& of 12024.. £25.2081 £nil During 2021 the Charity Tefinanced wth HandeL8b8nn PLC The loan is fixed fgr S years at an interest rate of 3.67% per annum. compTl%ng the core fixed rate of 1.37% plus a margin at 2.3 /0. The total outstanding at year end was £1,368,C¥J8 {2024'. £1.404.9941. Durfng 2020 the Charity sec#JTed futher loan fun¢Jing in the form of a Bounce Bad( Loan of £50,000. Th& fixgd inlergst rale is 2.5V• and th& loan is repayabSe in instslm¢nts. The total outstandlro at year end wras £7,908 12024.. £18,219). The loans are secured by fixed and floatlng charges OV8rthe fr88hold land and buildlng8 and assets Df Ihe school. Page 13
WELLESLEY HOUSE AND ST PETERS COURT EDUCAMONAL TRUST LIMrrED NOTES TO THE AcCOUPs FOR THE YEAR ENDED 30 SEPTEMBER 2025 10 Fundts IrKom• Exp•nditure 1 October 2024 30 September 2025 Bursary Appeal Fund 82,061 82,081 82,061 Unrestricted Funds General 1273.815 19B,602 1130.7811 5,341,436 5,273,815 198.602 1130,7811 5.341,436 Total unrestTiCt8d fund8 5,355,676 198.602 -130.781 5,423,497 Total funds Previous de&gnations regarding bursaries and improvements to thg bullding8 ha been supercedJ followw the transfer ID Alpha School$. Therefore all unrestricled reseTves of the Chartty are held at the Trusle8s' di8creUDn. The Bursary Appeal Fund a¢¢ount 1$ ft>rfunds re1 from past pBr8nts as don8lons so the Charity can offer financial assistance the award of a bursary. Expandlturo 1 0¢10r 2023 30 SBptemb8r 2024 RestrScled Bursary Appèal Fund 82.061 82.061 2,061 82,061 r881 General 5,213,802 19).231 (130.4181 5,273,615 5,213.802 190.231 1130,4181 5.273,615 Total unreSIred funds Total fund8 5295.863 1)231 1130,418} 5,355,676 11 Analy318 of net assots between fijnds Unrestrlcted Restrlcted 2025 2025 Total 2025 Total 2024 Tanglble fixed assets Current Iliabilitie8y8ss8t$ Lr)ng temi liobilthes 128.432 542,650 (1,329.6401 6.128,432 6,160,652 624,711 570,603 11,329,fj461 {1.375.5791 82,061 5.341,436 82.061 5A23A97 5,355,676 Analys19 of not •$s•ts bètw••n funds120241 Unrestrkt8d 2024 Rgsthclpd 2024 Totsl 2024 T8ngibl8 ffixad Bssets Current Iliabilitiesvassets Long tarni liobllld8S 8,160,652 488.542 1,375,579 5.273.615 6,160,652 570,603 1,375,579 5,355,676 2,061 82.061 Page 14
IELLESLEY HOUSE AND ST PETERS COURT EDUCATIONAL TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 12 Related Partl8¥ TheT8 18 no oth&r rolatèd paty transoctions In the year12024: none) . 13 Invg¥tmgnt In $ub$ldlary Thg Charity is the sole shaTehokl8r in W$llè$lgy Housa School Enterprlses Limlted, a tradi cy)mpany Inctsrporaled In Aprfl 1994. Thg compony has not traded to date and Is 3 dormant COmP8ny. 14 Rwrganlsatlun of thg bu$lnes8 On 30 September 2021 wel818Y House and Sl Petsr Court ¢ompl&ted on the sal& of Ihe assets ofthe busin9s8 tr> Haddon D&ne, a subsidlary of Apha Schools (Holdings} Ltd. This was announced to the staff, par¢nts, pupils and other stakeholders in October 2021. Th& transaction compl8t¢d on 1 Oclober 2021. At that date the trade and ass8ts wère tronsferred in return for an annuallgase Premium. A number of propertie8, a8818dID5nS And cash balance8 have b88n retained and may be used to gènèrat8 Incomè in the future. AS at 30 Septèmbèr 2025 £nll 12024 r25.20B) Wds to Alpha Schools. Wellesley HOU and Sl Fgter Court wll continue to &st as a charltablo company limited by gu8ranl88. Pag6 15
WELLESLEY HOUSE AND ST PEIERS COURT EDUCATIONAL TRUST LIMrrED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3LI SEPTEMBER 2025 15 ComparatSve InfoTmatlon Unreth¢led fvnds Restricted nds Totsl 2024 INCOME FROM Charltable ActEYltlg Rental Incorng Gr8ntg and Donotions Transfer Inv•stm•nts 171.350 171,350 1B.6B1 18.881 Total Income 1W),231 19D.231 EXPENDITURE ON Ralslng funds Charitable Advltlos Pramls@s Insuran Loan Interest Loan arrangemgnt fee Bank charges Audlt & prof8sslonal fees Indepgndent Exatninor FBe Admlnlstratlon costs Gènèral Éxpenses D8PTeclatitsn 5.229 20,256 52,836 5,229 20,256 52,836 4,500 328 2.104 1,512 12,000 89 32,220 328 2.104 1.512 12.000 89 32.220 Total expgnditure 130.418 130,418 other Recognis•d Galns Profit frorn sale of finxed asset Net Income 59.813 59.813 Funds brought for4vard at 1 Octobgr 2023 5.213,802 82,061 5.295,863 Funds carrted forward at 30 S&ptemb&r 2024 5.273.615 82,061 5,355,676 Trè statement of financial activities iryclucles 811 gains arKI losses recognlsed In the year. The notes on pwJes 10-16 fom part of the8e fjnan¢ial ststemenis. Pag8 16