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2025-08-31-accounts

RG Company Registration No. 00171900 (England and Wales)

Registered Charity No. 309144

LEIGHTON PARK TRUST (A company limited by guarantee)

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

LEIGHTON PARK TRUST REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company Number 00171900 (England and Wales)

Registered Charity Number

309144 (England and Wales)

Principal Address and Registered Office

Leighton Park School Shinfield Road Reading Berkshire RG2 7ED

Governors, Charity Trustees and Company Directors

The Leighton Park School Governors are the Charity Trustees and Company Directors of Leighton Park Trust, a company limited by guarantee. They have all served in office throughout the year, except where indicated. Together with past Governors who served in the year, as indicated, they are:

Appointed by Leighton Park School General Meeting

Jane Dawson (until 28 March 2025) Lottie Dodwell-Williams (3) Naomi Iliff (1) Bruce Johnson (3) (6) (C4) Andrew Hughes-Nind (2) Juliet Olsworth-Peter (appointed 1 April 2025) Leon Spence Gwenan Sykes (1) Matt Winkless (C1) (7)

Appointed by Governors

Pamela Carragher (2) (4) (5) Eme Dean-Lewis (4) James Gazet (C3) Alexander Hitchens (3) Chris Houston (C2) (4) lrfan Latif (3) (until12 September 2024) Marion Mitchell (2) Nick Wood (2)

(1) Member of the Pastoral and Safeguarding Committee

(2) Member of the Business Committee (3) Member of the Teaching & Learning Committee

(4) Member of the Remuneration Committee

(5) Finance Governor (6) Human Resources Governor (7) Safeguarding Governor (C*) Chair of Committee

Responsibilities of other Governors of Leighton Park Trust can be found on the school’s website (www.leightonpark.com/staff-and-governors).

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LEIGHTON PARK TRUST

REFERENCE AND ADMINISTRATIVE DETAILS

Key Management Personnel

Head: Matthew Judd (until 31 August 2025) Luke Walters (appointed 1 September 2025) Deputy Heads: Eddie Falshaw Nicky Hardy Alexander Wallace Senior Assistant Head: Natasha Coccia Bursar and Clerk to the Board of Governors: Keith Eldridge Director of Marketing and Admissions: John Burnett Advisers Bankers: Barclays Bank PLC Apex Plaza Forbury Road Reading RG1 1XE Lloyds Bank PLC 24 Broad Street Reading RG1 2BT Solicitors: Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol BS1 4QA Auditor: RSM UK Audit LLP Davidson House Forbury Square Reading Berkshire RG1 3EU Investment Advisers: Greenbank 111 Victoria Street Bristol BS1 6AX Insurance Brokers: Tysers 70 Fenchurch Street London EC3M 4BR

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees of Leighton Park Trust, who are also the Company Directors and Governors of the Trust, present their annual report together with the audited accounts for the year ended 31 August 2025 and confirm that they comply with the requirements of the Charities Act 2011, as amended by the Companies Act 2006, the Articles of Association and the Charities Statement of Recommended Practice (SORP) 2019.

BACKGROUND

Leighton Park Trust is registered with the Charity Commission, charity number 309144. It was incorporated in 1920 as a company limited by guarantee and not having any share capital (company number 00171900). Responsibility for the governance of the Trust lies with the Governors. The members of the Board of Governors, Trust's key management personnel and registered address are as listed on pages 1 and 2. Particulars of the Trust's professional advisers are given on page 2.

OBJECTS, AIMS, OBJECTIVES AND ACTIVITITES

Charitable Objects

The objects are set out in the Articles of Association and include the management of the school known as Leighton Park School at Reading in accordance with the religious principles of the Religious Society of Friends (Quakers), for the education of children of members of the Religious Society of Friends (Quakers) and others. Other broader educational objects and those listing specific authorities related to business activities, e.g. leases, loans, etc. are included.

Objectives for the Year

This year the Trust has been working towards a number of objectives which together build its reputation as a leading school both regionally and more widely, one that is known for its distinctive ethos and for its teaching and learning.

Principal Activities

The Trust principally manages the school known as Leighton Park School in Reading, an independent, co educational, mixed day and boarding secondary school.

Over the course of the year the number of students was stable with a school roll of 563 at the end of the year. Leighton Park School is a boarding community where about 25% of the school board, but the day and boarding students are fully integrated. Day students can fully join in all activities and are entitled to stay for all meals during the day and evening. Across the school there are approximately 55% boys and 45% girls.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Trust is governed by its Articles of Association which were last amended in December 2023.

Governing Body

The number of Governors is laid out in the Articles of Association. Friends are appointed by Leighton Park School General Meeting and other Governors are appointed by the Board of Governors.

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Recruitment and Training of Governors

Each of the Governors shall be appointed on a rotating basis such that approximately one third of their number complete their periods of office in each calendar year. They shall hold office for a period of three years and upon completion of that period shall, if they remain qualified, be eligible for reappointment for up to two further terms of three years each. Newly appointed Governors satisfy the Board's requirement with regard to eligibility, personal competence, special skills and availability.

New Governors are inducted to the workings of the Trust at meetings held with the Chair of Governors, Head and Bursar and are mentored by an experienced, existing Governor. New Governors receive an induction pack that includes information about the Religious Society of Friends (Quakers), responsibilities of trusteeship and Governorship, and information about the school. The Trust promotes Governor training organised by the Association of Governing Bodies of Independent Schools (AGBIS) and Friends' Schools' Council (FSC), together with other appropriate courses and seminars organised by third parties. In addition, the Governors normally hold an annual Strategy Day which usually includes a training session on a current topic.

The Trust has made qualifying third-party indemnity provisions for the benefit of its Governors during the year. These provisions remain in force at the reporting date.

Organisational Management

Responsibility for the overall management and control of the school and the governance of the Trust lies with the Board of Governors who meet at least three times a year. The work of implementing most of their policies and decisions is carried out by the Teaching and Learning Committee, Pastoral and Safeguarding Committee, Business Committee and Remuneration Committee. This core structure is supported by other committees and ad-hoc working groups as required. All of these committees normally meet at least termly or as required.

The Governors have commissioned a governance review from an external consultant. The conclusions of the review have been analysed and work is ongoing to implement recommendations.

The day-to-day running of the school is delegated to the Senior Leadership Team (Head, the Deputy Heads, Senior Assistant Head, Bursar and Director of Marketing and Admissions) who attend meetings of the above. This group is considered to be the Trust's key management personnel.

The remuneration of key management personnel is determined by the Remuneration Committee using a combination of base salary and benefits that are set by reference to market norms. The Committee has access to external advice and benchmarking data.

Group Structure and Relationships

The Trust has a wholly owned subsidiary company, Leighton Park Enterprises Limited, whose complementary fund-raising activities cannot be undertaken within the objects of the charitable company.

The school actively supports the attainment of high standards in the independent schools sector through networking with other schools and participation in the activities of appropriate associations to which the school belongs. The school also cooperates with several local schools, charities and other organisations to optimise the use of its facilities. The school enjoys the support of an active parents' association and of the Old Leightonians, whose support is appreciated and acknowledged.

Local Community Links

The school values its connections with the local community. It continues to develop links with Reading Quaker Meeting and to improve co-operation with the University of Reading, local primary schools and Ethical Reading which helps local organisations incorporate ethical values into their activities.

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Volunteers

The Parent and Staff Community (PSC) organises and staffs school events including social evenings and information meetings. The Governors, the Head and the wider leadership of the school are most grateful for the unstinting support of this valued body.

Access and Bursary Policy

The Trustees confirm that they have complied with the duty in Section 17(5) of the Charities Act 2011, to have due regard to the guidance issued by the Charity Commission on public benefit. Public benefit is also covered on page 4 (Local Community Links).

Leighton Park School welcomes children of all backgrounds from within the United Kingdom and overseas, and criteria for admissions are published on the school website: www.leightonpark.com.

The school ensures that the education it provides is not restricted to those who can afford the fees.

The Board of Governors view bursary awards as important in helping to ensure that students from families who would otherwise not be able to afford the fees can access the education that the school offers. Bursary awards can be made available to those who meet the general entry requirements and are made after assessing parental means either before a student joins the school or to relieve hardship when an existing student's education would be at risk, for example in the case of parental redundancy. However, Leighton Park School is almost totally reliant on fees and in funding its awards it must ensure that there is a balance between fee-paying parents, many of whom are making considerable personal sacrifices to fund their child's education, and those benefiting from awards.

This year the value of means tested bursaries totalled £845,899 (2024: £682,677). The school offered assistance to 45 (2024: 35) students of whom 19 (2024: 15) students benefited from bursaries greater than 80%. The school has made bursary awards to three students from Ukraine who have been forced to leave their communities due to the ongoing conflict.

Other Assistance

The school continues to award a broad selection of scholarships to current and prospective students. These include academic, art, dance, drama, ethical enterprise, music, sport and STEAM. Students may be awarded more than one scholarship but will only receive the financial benefits of one which is a maximum of 30% of the day student fee. This year the value of scholarships was £274,524 (2024: £173,024). The school also offers discounts where parents have three or more children in the school as well as discounts to children of teaching and business and operational staff.

Total Awards

This year, the value of bursaries, scholarships, discounts, prizes and other awards made to the school's students was £1,357,942 (2024: £1,218,103).

STRATEGIC REPORT

VISION STATEMENT

Leighton Park is a leading, independent co-educational day and boarding school in Britain. Leighton Park's central purpose is to form young people of real character, independence and confidence, with a determined desire to change the world. This flows from our unique blend of deep Quaker values, the meaningful connections between our students and staff, first-class academic and pastoral support, and our holistic approach to learning. Our inspirational and supportive family-feel environment enables us to deliver consistently an exceptional values-based education which leads to excellent achievement.

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR

Matthew Judd left his post as Head at the end of August 2025 to take up a new position having served Leighton Park with distinction for seven years. The Governors wish to place on record their deep gratitude for his leadership and excellent contribution to the school throughout his tenure.

The school remains true to the values of the Quakers which are enshrined in its aims and founded upon the Quaker testimonies of Integrity, Equality, Truth, Respect, Simplicity, Peace and Sustainability. Collect (assembly) and Meeting for Worship bring the school together at special times for silence but shorter periods of reflective quiet often punctuate the school day. All of this builds a tangible sense of calm and peace that pervades the Park.

The Governors use a range of key performance indicators to monitor the performance of the Trust, which include pupil numbers; staff:pupil ratio; academic achievement; and financial and sustainability measures.

Leighton Park was inspected by the Independent Schools inspectorate (ISI) in November 2024. The report published in February 2025 confirmed that the school met all regulatory standards and was rich and positive in commendations. ISI identified a ‘significant strength’ under the new ISI Report format in an area that defines the school, namely its values. During the year, Leighton Park was also recognised as a national leader for preparing students to thrive in a fast-changing world, winning the Independent Schools Association (ISA) Award for Future Readiness. Leighton Park was awarded the 2023 ISA Senior School of the Year Award in November 2023. The school was also a finalist in the prestigious Times Educational Supplement (TES) Awards for Independent Senior School of the Year in 2023 and was pleased to win the ISA’s 2022 Award for Pupil Personal Development.

Academic

The school enjoyed another year of success at A Level, with a 3% rise in A grades and 68% of results at A-B, rising to 73% among boarders. An impressive 40% of all grades were A-A compared with the national average of 28%, and 14% were A against 9% nationally. Fifteen students achieved straight A-A grades, reflecting the dedication of both students and teachers. This cohort was the first to benefit from the school’s new Grove Sixth Form Study Centre, opened in September 2024, which has enhanced the learning environment. Strong results across academic departments included 100% A-B in Art, Drama, Dance, Mandarin and Russian, and 100% A*-A in CTech Sport, with particularly strong outcomes in DT (90%), Economics (73%), Geography (86%), Maths (79%) and Music (70%). These results are complemented by exceptional university destinations, including places at LSE, Durham, Bath, Sheffield, and leading music conservatoires, underscoring the success of the school’s Aspiring High Programme.

The school’s academic strength across Science, Technology, Engineering, the Arts and Mathematics (STEAM) continues to shine, with students progressing to competitive courses in Aerospace and Mechanical Engineering, Robotics, Psychology and Music. The Music Department, a national finalist for Best Music Department in the UK, celebrated ten students progressing to music-related degrees, including two at Berklee College of Music. With the Government’s most recent analysis placing Leighton Park as the top performing school in Berkshire and 27th nationally for Sixth Form progress—one of only eight schools always to feature in the top 100—the school continues to be recognised for academic excellence.

There was also a very strong performance in the International Baccalaureate Diploma Programme where the cohort achieved 36 points, a 7% increase on the average scores for 2023 and 2024 and significantly above the 2025 global average of 30.6. The Diploma Programme provides students with a broad, holistic and academically rigorous educational foundation from which to build on, whether they are continuing with their studies in the UK or abroad.

At GCSE the school saw an increase of three percentage points in 9-7 grades. 59% of grades were 9-7, with a pleasing 41% of grades at 9-8. 18 students achieved all 9-7 grades and 43 students at least seven grade 7s. Leighton Park’s STEAM departments achieved particularly impressive results, with the proportion of grades 9-7 shown in brackets, including Engineering (76%), Chemistry (76%), Physics (70%), Textiles (70%), Computer Science (69%), Music (69%), Maths (67%) and Biology (63%). Leighton Park is one of very few schools in the UK to offer Engineering GCSE, reflecting the school’s focus on teaching critical thinking and creative problem-solving. Languages overall performed very well, notably English as an Additional Language (85%), French (73%), Russian (100%), Mandarin (80%) and German (83%). The school also offers a BTEC in Creative Media Production with six students achieving Distinction* or Distinction grades.

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Co-Curricular

Leighton Park is a vibrant, values led learning community which blends academic rigour with extraordinary opportunities outside the classroom. Students have over 90 different options to choose from which take place before, during and after school. These cover interests as diverse as Sport and Wellbeing, Music and Media to Academic Enrichment, Skills, Clubs and Societies and Charities/Service. Many of the activities, although supported by teaching staff, are student led. It is this level of creativity, action and service, which prepares students to be ready to play their part in the world and become the ethical changemakers of tomorrow.

Co-curricular at Leighton Park is an experiential learning programme, encouraging students to try new things outside of their comfort zone and develop their gifts and talents. Sports and wellbeing clubs include a blend of traditional sports such as football, rugby and cricket alongside wider options including yoga, kayaking, basketball and judo. These are sometimes delivered with external partners to ensure the best experience for students, including professional football clubs and judo coaches. There are exciting options in film production, music production and music technology, alongside ensembles, a capella groups, orchestra and choirs. Lower Sixth students form part of our Aspiring High Group preparing for university applications. Further options include Extended Project Qualifications, junior and senior book club and Model United Nations. A number of dedicated STEAM clubs support our students in experimenting, exploring and creating. Specialist clubs enable students to pursue new and existing hobbies. Recent additions include SAGE (our LGBTQ+ group), board games, Dungeons & Dragons and Warhammer. Skills clubs help students relax and unwind while developing passions as diverse as cookery, knitting, model gliders and chess. Expressive art forms are well catered for with a range of drama and dance clubs. Art, textiles and ceramics clubs are on offer for those who enjoy painting, sketching, photography, sewing, print- making and more.

Partnerships

Developing kind and compassionate leaders for the future is an important part of how Leighton Park gives its Quaker values currency and purpose. Mutually beneficial partnerships with community and educational organisations give insight and opportunities to strive for a fairer, better society. Our values-led work was recognised in the 2025 ISI report which highlighted our partnerships and community service, affirming the school’s leadership in values-based education. This builds on a number of awards received in previous years, including ISA School of the Year for Outstanding Community Involvement (2020 and 2021). The school was also shortlisted for 2022 Independent School of the Year Award for Community Outreach.

There has been continued focus on strengthening connections with local maintained schools and the wider community during the year. A new partnership with EP Collier Primary explores Ethics and Quakerism using the legacy of the Cadbury family, with Year 5 students from EP Collier visiting Leighton Park to deepen their understanding of ethical leadership. Our Royal Institution Mathematics partnership with the Kennet Foundation saw year 12 students running a maths masterclass alongside a weekly super-curricular club. Our primary school music partners joined the school for the ISA a Cappella competition and over 200 primary students visited the school to enjoy a partnerships performance of The Lion, The Witch and The Wardrobe by Leighton Park junior school students. Six local primary schools participated in a Key Stage 2 Festival of Sport mini-hockey tournament, many trying hockey for the first time. Coaching was led by sports scholars and the school’s Head of Hockey. The ongoing partnership with Foundry College saw their students attending bespoke food technology sessions at Leighton Park, with Foundry’s SLT delivering specialist coaching to Leighton Park staff as part of Inset training.

A CPD partnership with The Wren School has been established with a dedicated day focused on creating neurodiverse-friendly spaces. The school hosted a Flourshing Leadership Conference in collaboration with the Education Partnership Board at Reading Borough Council. Our leadership team supports governance at local maintained schools and foundations by serving as governors.

The school supported a range of local and national charities during the year. Social enterprise students volunteered with Salt Shaker, a local charity that supports disadvantaged families across Berkshire. The senior school charity group, Amicus, ran non-uniform days on behalf of the Spanish charity Fundacion Allegro and organised the annual ‘Toys and Teens’ appeal for Reading Family Aid, ensuring that local families in need enjoy receiving gifts at Christmas. An Ethical Enterprise Fair promoted sustainable and ethical products while supporting community enterprises. The school runs an Interact Rotary Club to support students with projects that promote international understanding and fundraising for good causes.

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Music, Drama and Sport

Music is a real strength of Leighton Park life with a ‘music for all’ approach that allows opportunities for students to engage in enriching and creative experiences, whether playing an instrument, singing or managing the technical setup. This has been a vibrant year of music, including lunchtime and evening concerts, a solo spotlight series and whole-community events. A highlight was Music for a Summer’s Evening, an al fresco celebration featuring performers from every year group, performing on voice, brass, wind, strings and piano. Our Leighton Park World Music Day featured a high-energy percussion session for over 500 students by Alua Nascimento. House Music 2025 was a memorable night of solo performances, original compositions and large ensembles judged by an impressive panel of industry professionals. A creative communications event showcased the creativity of students and featured original work in music, music technology and film. This was broadcast from our Main Hall to the wider Leighton Park community with a live audience. Three Leighton Park students were celebrated in the ISA National Composing Competition, including first place in the Key Stage 5 category. This success follows first and second places in the ISA Young Musician Competition and the Music department being named a finalist in the Music and Drama Education Awards.

Our performance departments have had another busy year. Leighton Park offers students a variety of theatre trips throughout their time at the school as well as excursions to exhibitions, galleries and outdoor spaces as part of our holistic education programme. Students benefit from extra-curricular activities by broadening their awareness of how knowledge learned in the classroom translates to their experience of the world beyond it. Drama and dance students have enjoyed a range of live theatre and dance performances during year. These have included a trip to Alfred Hitchcock’s 39 Steps at the Trafalgar Theatre, Timberlake Wertenbaker’s Our Country’s Good at The Lyric, Othello at the RSC in Stratford, Peaky Blinders at the New Theatre, Oxford and Swan Lake at Sadler’s Wells.

The Junior Drama production of The Lion, the Witch and the Wardrobe featured a large cast of some 50 students in Years 7, 8 and 9. With excellent story-telling, set and costume design, the production was an opportunity for younger students to participate on stage, in the technical crew or back stage . The inaugural Drama Showcase brought together Year 9 performers, LAMDA students and Drama Scholars in a vibrant evening of classical and contemporary theatre. Let’s Dance 2025 featured a mix of solos, duets and group performances with material drawn from A Level, GCSE coursework, NATD and Loop Dance Company cocurricular club as well as Dance Scholars.

Finally, the Senior production of The Curious Incident of the Dog in the Night-Time was a great success. The cast and crew delivered a poignant and moving show with a moving original soundtrack created by a Year 12 student.

Students are involved in a wide range of sports with an emphasis on participation as well as competition. Leighton Park’s 2025 Co-Ed Sport Festival brought together Cricket Week, #LPGirlsCan Week and Men’s Health Week in a dynamic celebration of the school’s co-educational history. The busy week saw competitive fixtures, exciting activities and inspiring guest speakers.

Leighton Park hosted the ISA netball competition where our U15 team secured a Bronze medal among 12 schools. The U16s won Bronze in Nottingham and the U18s achieved a solid 6[th] place finish with strong performances all round. Girls hockey goes from strength to strength with over 120 girls taking to the field. 25 students play at club level, ten at county level and two at international level. U15s played in the ISA tournament at Lee Valley Olympic Hockey Park and there were many matches for all years in local leagues.

The school hosted the annual Berkshire Girls’ Football Tournament and the inaugural Boys’ Tournament. Over 200 girls from Berkshire took part, with U13 girls finishing runners-up. The U13 boys won their competition, while the U15s and U13 second team earned impressive runners-up spots.

Our athletics teams competed in the Reading Town Athletics Championships, securing 13 medals for boys and 12 for girls. Strong performances also came from our nine runners at the Berkshire Schools Cross Country Competition with two students qualifying for the ISA National Finals.

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Facilities

The school continues to invest in its buildings and facilities to ensure that its students have the best environment in which to learn. Our new Sixth Form Study Centre and School Library at Grove House opened to students in September 2024. This major development of an historic building designed by Alfred Waterhouse has created an inspiring new study space in which to learn, a lecture theatre, landscaped gardens and a high-quality new double-height school library.

During the year the heating system in School House (senior boys’ boarding) was replaced with a modern, energy-efficient system, improving comfort for students while reducing environmental impact and running costs. A modern kitchen-diner was also created for boarders to enjoy – a welcoming space where students can cook, eat and socialise together. The outdoor garden for year 9 students was upgraded, adding two covered areas, new seating and improved landscaping to create a more attractive social space. The netball and tennis hard courts were repaired and repainted to create a better playing surface for students. During the summer the school upgraded its network infrastructure, replacing edge switches to enhance connectivity, ensuring faster and more reliable access to digital learning for students.

Pastoral matters continue to be at the heart of the school. The school has a well-deserved reputation for excellence in its pastoral care, from safeguarding and its standards in boarding and the Health Centre to the way that students feel about Leighton Park. The enrichment at the school goes from strength to strength for all students but particularly for boarders where this has been further enhanced by extending the range of activities on Saturdays and Sundays to reinforce the students' weekend experience in our lively and vibrant boarding community.

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

For the year ended 31 August 2025, the surplus for the Trust and its trading subsidiary company was £356,998 (2024: £528,029). The results for this year include net realised gains on investments of £30,415 (2024: £325,724).

The losses on market value changes on our investments were £70,846 (2024: gains of £320,937) and our investment portfolio increased to £4,813,537 (2024: increased to £4,810,979).

Reserves Policy

Total funds held by the Trust and its trading subsidiary company at the year end are £20,911,953 (2024: £20,554,955). Of the total funds, £957,967 (2024: £1,021,423) are restricted funds which are explained in more detail in note 20 to the financial statements but are not available for the general purposes of the charity. £290,440 (2024: £287,880) of total funds are endowed funds and are designated for scholarships and prizes. £22,459,233 (2024: £22,419,430) of total funds (net assets held by the Trust) relate to functional fixed assets for the Trust's own use.

Free reserves are calculated as total funds reduced by endowed funds, restricted funds, designated funds and functional fixed assets for the Trust’s own use. There were no free reserves for the group at the yearend.

The Trustees’ aim is to hold funds which are sufficient but not excessive in order to fund operational requirements and future development. The Trustees' policy is to hold free reserves equivalent to three months’ annual expenditure. Budget annual expenditure for 2025/26 is £16.4m and hence the policy would require free reserves of £4.1m.

In common with other independent schools, Leighton Park has negative free reserves as surpluses are reinvested into the school’s fixed assets to maintain a high standard of facilities. The Trustees consider the school has adequate working capital for its foreseeable requirements which are met by school fees received and, if necessary, the agreed bank overdraft facility. The aim is to budget sufficient working capital without the need to make disposals from our realisable fixed asset investments of £4.8m (2024: £4.8m) which support the unrestricted funds.

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Investment Policy and Objectives

The principal activity of Leighton Park Trust is the operation of Leighton Park School. It is the intention of the Trustees that all the normal expenses of running the school, including the cost of scholarships and bursaries granted (except those from designated or restricted funds), should be met from the fees paid in respect of students attending the school and from other income generated from use of the school premises.

Consequently, the funds available for investment are intended to be available to support the long-term future of the school and its development. They are not intended to subsidise operational costs, for which any short term deficiencies are met through overdraft facilities. As such it is desirable that the funds grow over time at a rate in excess of the inflation rate of those expenses related to the running of a school.

The Trustees have appointed Greenbank as investment manager. The Trustees require the investment manager to take account of social, environmental and ethical issues of concern to Quakers, which may have an impact on the financial performance of the school's assets. It is the Trustees' wish to exclude from the investment portfolio(s) the following:

Leighton Park wishes to support enterprises that address authentic human needs which include, but are not limited to, education, healthcare, housing and renewable energy sources.

The Trustees monitor the performance of the investment manager against benchmarks agreed with the investment manager from time to time. The Trustees retain the right to amend the benchmarks as appropriate after taking advice.

The investment policy and objectives are reviewed regularly as part of the process of reviewing the Trust's investment strategy or more frequently if there is a significant change in the Trust's circumstances.

Investment Performance against Objectives

The investment performance is measured regularly against indices compiled by Asset Risk Consultants (ARC) and MSCI PIMFA.

Over the twelve months to September 2025 the investment returns were 1.3% compared with the ARC Charity Steady Growth benchmark of 7.6%. The Governors continue to monitor performance and review the investment strategy as part of their ongoing oversight.

Principal Risks and Uncertainties

The Trustees of Leighton Park Trust are confident that all major risks are being mitigated. The principal uncertainty identified by the Board is affordability of the fees for parents and the subsequent risk of the school not being able to attract sufficient students to make the school viable. The school currently has a buoyant roll, but the Trustees are not complacent about this, especially with the introduction of VAT on school fees from January 2025.

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LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

At present, there is an increased level of economic and political challenge, particularly around employment costs, increases to employee national insurance and higher TPS pension costs. The school entered phased withdrawal from TPS in January 2025, meaning TPS is closed to new teaching staff from that date. An agreement has also been reached with remaining teaching staff to limit the effective cost to the school of TPS employer contributions. These measures will reduce the risk of pension costs associated with TPS over time. The school is committed to containing costs within its control and marketing the benefits of education at the school to new potential students so that fee increases can be kept to the minimum sustainable level.

A further uncertainty identified by the Board is the ability of the school to recruit and retain suitably qualified teaching and support staff. The Board manages this risk by offering pay and conditions in line with market norms together with a positive working environment.

Risk Management

The major risks to which the Trust and its trading subsidiary company are exposed are reviewed regularly by the Trustees and the school's senior officers. Risks are identified, assessed and appropriate controls established.

The key controls used by the Trustees are:

Formal agendas for all Board and Committee meetings; Detailed terms of reference for all Committees; Comprehensive strategic planning, budgeting and monthly management accounting; Established organisational structure and lines of reporting; Formal written policies; Clear authorisation and approval levels; and

Appropriate recruitment and vetting procedures as required by law for the protection of children.

Through this risk management process the Trustees are satisfied that the major risks identified have been mitigated where necessary and insured where appropriate. It is recognised that systems can only provide reasonable, but not absolute, assurance that major risks are being adequately managed.

Equal Opportunities

Leighton Park Trust is an Equal Opportunities employer. It is the Trust and its trading subsidiary company's policy to treat all employees and job applicants fairly and equally regardless of their disability, sex, race, sexual orientation, marital status, colour, nationality, ethnic or national origin. Furthermore, the Trust and its trading subsidiary company ensures that no requirements or conditions are imposed without justification that could disadvantage individuals solely on any of the above grounds. The policy applies to all aspects of recruitment, selection, terms and conditions of employment including pay, promotion, training and transfer.

Employee Information

Leighton Park Trust has continued to invest in people at all levels in the organisation, as we see this as a key factor in maintaining and improving performance in all aspects of the business. The Trust and its trading subsidiary company attaches importance to good communications and relations with employees. Meetings are held to fulfil this objective when appropriate.

During the year the school attained accreditation as a Living Wage Foundation employer, committing to pay all staff at lease the Living Wage recommended by the Foundation. This is intended to support staff wellbeing and uphold the school’s values as a responsible employer.

Fundraising

The school undertakes fundraising exercises from time to time using mail, telephone and electronic approaches. The fundraising is with former students and their parents (the Old Leightonian community). Any specific telephone or electronic fundraising is only directed at those members of the Old Leightonian community who have agreed to be contacted in this way through specific opt-in consent under GDPR. The school does not use professional fund-raisers or commercial participators to carry out these activities. The school is registered with the Fund Raising Regulator. There have been no failures in complying with the regulator's requirements.

11

LEIGHTON PARK TRUST

GOVERNORS’ AND TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

FUTURE PLANS

The overall financial position is robust and the Head and Board of Trustees are both confident about, and ambitious for, the future of Leighton Park. The Trust will continue to invest in education, facilities and infrastructure. The school's current Strategic Plan is subject to ongoing development and regular review by the Board.

The main priorities for the coming year are:

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Trustees (who are also the directors of Leighton Park Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual 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 financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group 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 that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Charities Act 2011 and 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO THE AUDITOR

So far as the Trustees are aware, there is no relevant information of which the charitable company’s auditor is unaware. Additionally, the Trustees have taken all the steps that they ought to have taken as Trustees in order to make them aware of any audit information and to establish that the charitable company’s auditor is aware of that information.

12

LEIGHTON PARK TRUST GOVERNORS, AND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 This Annual Report, prepared under the Charits'es Act 2011 and the Cornp3nies Act 2006, was approved by the Trustees ol Leighton Park Trust on including in their capacity as company directors approving the Strdtegic Report contsined therèin, 8nd is signèd as authorised on its behalf by.. Eme Dean- Chair of Board of Govemors Date.. 13

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEIGHTON PARK TRUST

Opinion

We have audited the financial statements of Leighton Park Trust (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 August 2025 which comprise the consolidated statement of financial activities, the consolidated and company balance sheets, the consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

14

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEIGHTON PARK TRUST (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report or the Strategic Report included within the Trustees’ Report.

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 set out on page 12, 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 group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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

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

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected noncompliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

15

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LEIGHTON PARK TRUST (CONTINUED)

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team:

As a result of these procedures, we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, the parent charitable company’s governing document and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Directors’ Report and remaining alert to new or unusual transactions which may not be in accordance with the governing documents.

The most significant laws and regulations that have an indirect impact on the financial statements are The Education (Independent School Standards) Regulations 2014, Keeping Children Safe in Education under section 175 of the Education Act 2002, and the UK General Data Protection Regulation (UK GDPR). We performed audit procedures to inquire of management and those charged with governance whether the charitable company is in compliance with these laws and regulations and inspected correspondence with regulatory authorities.

The group audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to any significant, unusual transactions and transactions entered into outside the normal course of business.

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

Use of our report

This report is made solely to the parent 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 parent charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company and the parent charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Kerry Gallagher

Kerry Gallagher (Senior Statutory Auditor) For and on behalf of RSM UK Audit LLP, Statutory Auditor Chartered Accountants, Davidson House, Forbury Square, Reading, Berkshire, RG1 3EU

Date: 08/12/25

16

LEIGHTON PARK TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

………………….
Notes
INCOME AND
ENDOWMENTS FROM:
Charitable activities:
School fees receivable
2a
Ancillary trading income
2b
Other educational
charitable activities
2c
Other trading activities:
Commercial trading
operations
Other income
Donations and legacies
Investments
3
Total income
EXPENDITURE ON:
Raising funds:
Commercial trading
operations
4
School financing costs
6
Charitable activities:
School operating costs
4
Total expenditure
NET INCOME BEFORE
GAINS/(LOSSES)
Net gains on investments
NET MOVEMENT IN
FUNDS
7
RECONCILIATION OF FUNDS
Funds brought forward
22
Funds carried forward
22		 Unrestricted
funds
£
16,895,338
382,538
66,700
334,582
33,779
17,360
122,629
17,852,926
201,898
469,774
16,791,215
17,462,887
390,039
27,855
417,894
19,245,652
19,663,546		 Restricted
funds
£
-
-
-
-
-
134,786
-
134,786
-
-
198,242
198,242
(63,456)
-
(63,456)
1,021,423
957,967		 Endowment
funds
£
-

-
-
-
-
-
-
-

-
-
-

-

-
2,560
2,560
287,880

290,440
 Total
2025
£
16,895,338

382,538
66,700
334,582
33,779
152,146
122,629
17,987,712

201,898
469,774
16,989,457

17,661,129

326,583
30,415
356,998
20,554,955

20,911,953
 Total
2024
£
15,850,869
342,760
78,879
334,511
70,518
80,762
88,847
16,847,146
177,287
144,615
16,322,939
16,644,841
202,305
325,724
528,029
20,026,926
20,554,955

The statement of financial activities contains all recognised gains and losses in the year, and the results reported relate to continuing operations.

17

Company Registratlon No. 00171900 LEIGHTON PARK TRUST BALANCE SHEETS AS AT 31 AUGUST 2025 Group Trust 2025 2024 2025 2024 Notes FIXED ASSETS Tangible assets Investment assets 22.459,233 4,813,537 22.419,430 4,810.979 22,459,233 4.823.537 22,419,430 4,820,979 10 27,272,770 27.230,409 27,282.770 27,240,409 CURRENT ASSETS Debtc>rs Cash al bank and in hand 12 3,883,526 4,662,688 744,571 6,186.217 4.338.216 4,156,757 957,498 5,894,957 8,546,214 6,930,788 8,494,973 6,852,455 CREDITORS.. Arnounts falling due wthin one year 13 18.654,1481 17.414.348) 18,613,943) 17,347,051) NET CURRENT LIABILITIES 1107,9341 1483,5601 1118,9701 1494,5961 TOTAL ASSETS LESS CURRENT LIABILITIES 27.164,836 26,746.849 27,163,800 26,745,813 CREDITORS.. Amounts falling due after ona yaar 14 16,237,813> 16,188.0631 16,237,813) 16,188,ts631 NET ASSETS EXCLUDING PENSION LIABILITY 20,927,023 20.558.786 20.925,987 20,557,750 Pension scheme liabillty 17 115,0701 13,8311 115,0701 13,8311 TOTAL NET ASSETS 20,911.953 20,554,955 20,910.917 20,553,919 THE FUNDS OF THE CHARITY.. Unrestricted funds Endowed funds Restricted funds 18 19 20 19,663,546 290,440 957,967 19,245,652 287,880 1,021,423 19,662,510 290,440 957,967 19,244,616 287,880 1.021,423 TOTAL FUNDS 20,911,953 20,554,955 20,910,917 20,553,919 As permitted by s408 CoTnpanies Act 2006 the parent company has not presented its income and expenditure account and related not8S as It prepares group aeeounts. The net surplus ol the Trust for Ihe year (excluding the subsidiary) was £356.99812024.. £528,029). The fin ial stateyents on pages 17 to 39 were approved by thé Board ofTrustèes and authorised for issue and are signed on their behalf by.. Eme Dea Governor Chris Houston Governor 18

LEIGHTON PARK TRUST CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Notes
2025
£
CASH FLOWS FROM OPERATING ACTIVITIES:
NET CASH GENERATED FROM OPERATING
ACTIVITIES
23
3,263,374
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of tangible fixed assets
(1,363,673)
Purchase of investments
(872,328)
Receipts from sale of investments
849,848
Interest received
114,795
Investment income
7,834
Proceeds on disposal of tangible fixed assets
2,000
NET CASH USED IN INVESTING ACTIVITIES
(1,261,524)
CASH FLOWS FROM FINANCING ACTIVITIES:
Interest paid
(390,406)
Repayment of borrowings
(67,319)
Proceeds from borrowings
-
Advanced fee scheme
- Receipts from new contracts
-
- Amounts utilised and repaid
(3,117,991)
NET CASH (USED IN)/GENERATED FROM
FINANCING ACTIVITIES
(3,575,716)
(DECREASE)/INCREASE IN CASH IN THE YEAR
(1,573,866)
CASH AND CASH EQUIVALENTS AT 1 SEPTEMBER
6,327,140
CASH AND CASH EQUIVALENTS AT 31 AUGUST
4,753,274		 2024
£
1,402,323
(5,987,774)
(464,457)
365,215
83,323
5,524
-
(5,998,169)
(14,137)
-
4,748,120
3,117,991
(2,176,247)
5,675,727
1,079,881
5,247,259
6,327,140

19

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 ACCOUNTING POLICIES

General information

The Trust principally manages the school known as Leighton Park School in Reading, an independent, co-educational, day and boarding secondary school. The incorporated charity (registered number 00171900 and charity number 309144) is a private company limited by guarantee and incorporated and domiciled in England and Wales. The address of the charitable company’s registered office and principal place of business is Leighton Park School, Shinfield Road, Reading, Berkshire, RG2 7ED.

The group consists of Leighton Park Trust and Leighton Park Enterprises Limited.

The Trust and its subsidiary trading company’s principal activities and the nature of the Trust and its subsidiary trading company’s operations are disclosed in the Governors’ and Trustees’ Report.

Basis of accounting

The financial statements have been prepared in accordance with the 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Leighton Park Trust is a public benefit entity under FRS 102 and has therefore applied the relevant public benefit requirements of FRS 102.

The financial statements are prepared in Sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated.

In accordance with FRS 102, the Trust has taken advantage of the exemptions from the disclosure requirements of Section 7 ‘Statement of Cash Flows’ from the presentation of an individual Statement of Cash Flows and related notes and disclosures.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Group financial statements

The financial statements consolidate the results of the Trust and its wholly owned subsidiary Leighton Park Enterprises Limited. A separate Statement of Financial Activities and Income and Expenditure Account is not presented for the Trust itself in accordance with the exemptions afforded by section 408 of the Companies Act 2006.

Going concern

The group made a surplus for the year of £386,366 (2024: £528,029) and has net assets at the yearend of £20,941,321 (2024: £20,554,955).

As a result of careful planning, including attention to costs, the Trust has positive cash balances and reserves in the form of the investment portfolio. The Trustees are therefore confident that the Trust can withstand current challenging headwinds.

After making enquiries, the Trustees therefore have a reasonable expectation that the Trust has sufficient cash reserves and loan facilities to continue its activities for a period of at least 12 months from the date of signing these financial statements. As such, the Trustees continue to adopt the going concern basis for preparing these financial statements.

20

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 ACCOUNTING POLICIES (continued)

Basis of consolidation

The consolidated financial statements incorporate those of Leighton Park Trust and its wholly owned subsidiary.

All financial statements are made up to 31 August 2025. Where necessary, adjustments are made to the financial statements of the subsidiary to bring the accounting policies used into line with those used by the Trust.

All intra-group transactions, balances and unrealised gains on transactions between the Trust and its subsidiary are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Income

School fees receivable and ancillary trading income are accounted for in the period in which the service is provided. Gross fees receivable are stated before deducting bursaries, scholarships, discounts, prizes and other awards allowed by the Trust.

Other educational charitable activities includes registration fees and staff rental income.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Legacy income includes residuary legacies notified prior to the balance sheet date and received before the accounts have been authorised for issue.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment manager of the dividend yield of the investment portfolio.

Expenditure

All expenditure is directly accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category.

Irrecoverable VAT

VAT on revenue expenditure which cannot be recovered is included with the item of expenditure to which it relates. VAT on capital expenditure which cannot be recovered is capitalised as part of the cost of acquiring the relevant asset.

Grants and donations

Grants and donations are credited to the Statement of Financial Activities once there is adequate certainty of receipt and entitlement and allocated to the appropriate fund.

Fund accounting

The Trust contains the following funds:-

21

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 ACCOUNTING POLICIES (continued)

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation and any provision for impairment. The acquisition of items with a value exceeding £10,000 are capitalised and added to the tangible assets.

Depreciation is provided on fixed assets to write off the difference between their cost and residual value over their estimated useful economic life on a straight line basis as follows:

Freehold buildings 50 years
Fixtures and fittings 5 – 10 years
Plant and equipment 5 – 10 years
Motor vehicles 3 years
Computers and office equipment 3 years

Depreciation is not provided on freehold land.

Assets under construction

Assets in the course of construction are carried at cost, less any identified impairment loss. Cost includes professional fees and other directly attributable costs that are necessary to bring the property to its operating condition. Depreciation commences when the assets are ready for their intended use.

Fixed asset investments

Investments are stated at market value. Realised and unrealised gains and losses on investments are credited or debited to the fund to which the related investment has been allocated.

In the separate accounts of the Trust, the interest in subsidiary is measured at cost less any accumulated impairment losses.

Interest in subsidiary is assessed for impairment at each reporting date. Any impairment losses or reversals of impairment losses are recognised immediately in the Statement of Financial Activities.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other shortterm liquid investments with original maturities of three months or less.

Acceptance deposits

Acceptance deposits are paid to the school to secure a place for the child at the school. Deposits held form part of the general funds of the school until the child leaves the school at which point they are credited without interest to the final payment of the fees or other sums due to the school. Deposits are held as creditors on the balance sheet and are classified as owing within one year and over one year based on when they are expected to be credited against income.

Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets, which include fees receivable, other debtors, amounts owed by group undertakings 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other creditors, the advanced fee scheme and bank loans 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 payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

22

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 ACCOUNTING POLICIES (continued)

Provisions

A provision is recognised in the Balance Sheet when the Trust and its trading subsidiary company have a present legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefit will be required to settle the obligation. Provisions, when created, are based on the best information available to the Board at that point of time.

Lease commitments

Rentals payable under operating leases are charged as an expense on a straight line basis over the period of the lease.

Pension funds

Retirement benefits to staff employed under a contract of service are provided by the Teachers’ Pension Scheme (TPS), The Pensions Trust Growth Plan (TPTGP), and an other defined contribution scheme. The TPS is an unfunded multi-employer defined benefit scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the Trust in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determine by the Government Actuary on the basis of quadrennial valuations using a projected unit cost method. The TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently there is insufficient information to use defined benefit accounting, it is therefore treated as a defined contribution scheme for accounting purposes and then contributions recognised in the period to which they relate. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

The Trust contributes to The Pensions Trust Growth Plan for support staff. Prior to 2014, this was in most respects a defined contribution arrangement with an element of guaranteed benefit. Since October 2013, it has been a solely defined contribution scheme. The Plan is a multi-employer scheme and it is not possible in the normal course of events to identify the share of the underlying assets belonging to the individual participating employers and accordingly, in accordance with FRS 102, is accounted for as a defined contribution scheme with contributions being recorded as they become payable. However, the Trust also makes deficit contribution payments to the scheme and, in accordance with FRS 102, these payments have been measured at fair value and included in the balance sheet as a liability.

Pension costs charged in the Statement of Financial Activities represent contributions payable by the Trust in the year. Interest and revaluations within the movement in the fair value of the Pension Scheme Liability are included in finance costs.

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

Fund accounting

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

Restricted funds are funds subject to specific conditions imposed by donors. The purpose and use of the restricted funds are set out in the notes to the accounts. Amounts unspent at the year end are carried forward in the balance sheet.

The permanent endowment fund is a specific type of restricted fund, which cannot be spent as income. Instead, the funds must be held permanently to produce a return for the Trust.

23

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

2 CHARITABLE ACTIVITIES

School fees receivable
Gross fees
Less: Bursaries, scholarships and other discounts		 2025
£
18,253,280
(1,357,942)
16,895,338		 2024
£
17,068,972
(1,218,103)
15,850,869

All income from school fees receivable in the current and prior year was unrestricted.

b) Ancillary trading income

School transport
Other		 2025
£
382,020
518
382,538		 2024
£
340,406
2,354
342,760

All income from ancillary trading in the current and prior year was unrestricted.

Registration fees
Staff rental income		 2025
£
65,821
879
66,700		 2024
£
78,000
879
78,879

All income from other educational charitable activities in the current and prior year was unrestricted.

3 INVESTMENT INCOME

INVESTMENT INCOME
2025 2024
£ £
Interest and investment income 122,629 88,847

All interest and investment income in the current and prior year was unrestricted.

24

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

4 EXPENDITURE

2025
Raising funds
Commercial trading
operations:
Leighton Park
Enterprises
School financing costs:
Financing costs
Investment management
fees
Charitable activities
School operating costs:
Teaching costs
Welfare costs
Premises costs
Support costs
Total expenditure
2024
Raising funds
Commercial trading
operations:
Leighton Park
Enterprises
School financing costs:
Financing costs
Investment management
fees
Charitable activities
School operating costs:
Teaching costs
Welfare costs
Premises costs
Support costs
Total expenditure		 Staff Costs
£
27,281
-
-
27,281
6,323,426
226,890
1,221,326
1,222,845
8,994,487
9,021,768
Staff Costs
£
23,884
-
-
23,884
5,747,947
219,827
1,134,625
1,194,846
8,297,245
8,321,129		 Depreciation
£
-
-
-
-
276,393
301,787
518,742
226,948
1,323,870
1,323,870
Depreciation
£
-
-
-
-
248,245
230,319
382,778
143,422
1,004,764
1,004,764		 Other
£
174,617
442,021
27,753
644,391
493,655
1,402,769
2,197,543
2,577,133
6,671,100
7,315,491
Other
£
153,403
93,789
50,826
298,018
658,827
1,457,380
2,798,789
2,105,934
7,020,930
7,318,948		 Total
£
201,898
442,021
27,753
671,672
7,093,474
1,931,446
3,937,611
4,026,926
16,989,457
-
17,661,129
Total
£
177,287
93,789
50,826
321,902
6,655,019
1,907,526
4,316,192
3,444,202
16,322,939
16,644,841

All expenditure relating to raising funds was unrestricted in the current and prior year.

Expenditure on charitable activities was £16,989,457 (2024: £16,322,939) of which £198,242 was restricted (2024: £92,465) and £16,791,215 was unrestricted (2024: £16,230,474).

25

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

5 STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Pension costs
Apprenticeship levy		 2025
£
6,978,358
765,197
1,259,059
19,154
9,021,768		 2024
£
6,541,376
642,542
1,119,341
17,870
8,321,129

The average monthly number of persons employed by the Group and by the Trust during the year was:

Teaching
Support
Premises and welfare
Ancillary trading		 Group
2025
No
2024
No

101
100
59
62
49
50
1
1
210
213		 Trust
2025
No
2024
No
101
100
59
62
49
50
-
-
209
212		 Trust
2025
No
2024
No
101
100
59
62
49
50
-
-
209
212
212

The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the year was as follows:

£60,000 in the year was as follows:
2025 2024
No No
£60,001 - £70,000 6 1
£70,001 - £80,000 2 2
£80,001 - £90,000 1 -
£90,001 - £100,000 1 2
£100,001 - £110,000 2 1
£110,001 - £120,000 1 1
£170,001 - £180,000 1 1

Retirement benefits of £260,312 (2024: £139,228) are accruing to 11 (2024: 5) of these members of staff under the defined benefit Teachers’ Pension Scheme and of £25,144 (2024: £24,295) to 3 (2024: 3) under The Pensions Trust.

No Trustees received any remuneration or other benefits from the Trust or any connected organisation. One person connected with a Trustee received remuneration of £12,979 from the Trust (2024: £9,317).

12 Trustees (2024: 7) were reimbursed expenses for travel totalling £5,451 (2024: £2,772), for training totalling £4,670 (2024: £1,924), and for other expenses totalling £50 (2024: £nil).

Key management personnel as detailed in the Reference and Administration Details on page 2 received aggregate remuneration including employer pension contributions of £1,040,708 (2024: £1,003,433), which includes employer’s pension contributions of £174,312 (2024: £158,675), and employer’s national insurance contributions of £100,906 (2024: £92,185).

26

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

6 SCHOOL FINANCING COSTS

Bank charges and interest
Pensions interest cost
Bad debt provision
Investment management fees		 2025
£
381,515
167
60,506
27,586
469,774		 2024
£
94,444
467
(655)
50,359
144,615

All expenditure relating to finance costs was unrestricted in the current and prior year.

7 NET INCOME

Net income is stated after charging/(crediting):

Net income is stated after charging/(crediting):
2025 2024
£ £
Auditor’s remuneration
- Statutory audit of the financial statements 30,000 20,450
- Other non-audit services 7,500 6,390
- Taxation compliance services - 1,000
Depreciation 1,323,870 1,004,764
Operating lease rentals 163,726 164,882
Profit on disposal of tangible fixed assets (2,000) -

8 TAXATION

Leighton Park Trust is a charity and is entitled for the current year to the exemptions provided by Section 505 Income and Corporation Taxes Act 1988.

27

LEIGHTON PARK TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

9 TANGIBLE FIXED ASSETS

GROUP

Cost
At 1 September 2024
Additions
Disposals
Transfers
At 31 August 2025
Depreciation
At 1 September 2024
Charged in the year
Eliminated in respect of
disposals
At 31 August 2025
Net book value
At 31 August 2025
Net book value
At 31 August 2024		 Assets under
the course of
construction
£
6,420,468
145,414
-
(6,238,313)
327,569
-
-
-
-
327,569
6,420,468		 Freehold land
£
1,000,000
-
-
-
1,000,000
-
-
-
-
1,000,000
1,000,000		 Freehold
buildings
£
18,334,535
587,687
-
6,238,313
25,160,535
6,403,565
505,336
-
6,908,901
18,251,634
11,930,970		 Furniture and
fittings
£
3,702,837
116,172
-
-
3,819,009
2,190,420
330,480
-
2,520,900
1,298,109
1,512,417		 Computers
and office
equipment
£
1,051,138
106,051
-
-
1,157,189
780,518
121,816
-
902,334
254,855
270,620		 Motor
vehicles
£
45,234
-
-
-
45,234
19,802
13,405
-
33,207
12,027
25,432		 Plant and
equipment
£
3,673,605
408,349
(2,000)
-
4,079,954
2,414,082
352,833
(2,000)
2,764,915
1,315,039
1,259,523		 Total
£
34,227,817
1,363,673
(2,000)
-
35,589,490
11,808,387
1,323,870
(2,000)
13,130,257
22,459,233
22,419,430

28

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

9 TANGIBLE FIXED ASSETS (continued)

TRUST

Cost
At 1 September 2024
Additions
Disposals
Transfers
At 31 August 2025
Depreciation
At 1 September 2024
Charged in the year
Eliminated in respect of
disposals
At 31 August 2025
Net book value
At 31 August 2025
Net book value
At 31 August 2024		 Assets under
the course of
construction
£
6,420,468
145,414
-
(6,238,313)
327,569
-
-
-
-
327,569
6,420,468		 Freehold land
£
1,000,000
-
-
-
1,000,000
-
-
-
-
1,000,000
1,000,000		 Freehold
buildings
£
18,334,535
587,687
-
6,238,313
25,160,535
6,403,565
505,336
-
6,908,901
18,251,634
11,930,970		 Furniture and
fittings
£
3,680,836
116,172
-
-
3,797,008
2,168,419
330,480
-
2,498,899
1,298,109
1,512,417		 Computers
and office
equipment
£
1,048,889
106,051
-
-
1,154,940
778,269
121,816
-
900,085
254,855
270,620		 Motor
vehicles
£
45,234
-
-
-
45,234
19,802
13,405
-
33,207
12,027
25,432		 Plant and
equipment
£
3,673,605
408,349
(2,000)
-
4,079,954
2,414,082
352,833
(2,000)
2,764,915
1,315,039
1,259,523		 Total
£
34,203,567
1,363,673
(2,000)
-
35,565,240
11,784,137
1,323,870
(2,000)
13,106,007
22,459,233
22,419,430

29

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

10 INVESTMENTS

Group

At 1 September 2024 including cash
Less opening cash
At 1 September 2024 less cash
Additions
Disposals
Revaluations
Listed on UK Stock Exchange or in
Open Ended Funds
Cash
At 31 August 2025
Historical cost (listed investments
only)
INVESTMENTS
Trust
At 1 September 2024 including cash
Less opening cash
At 1 September 2024 less cash
Additions
Disposals
Revaluations
Listed on UK Stock Exchange or in
Open Ended Funds
Investment in subsidiary
Cash
At 31 August 2025
Historical cost (listed investments
only)		 Endowment
Fund
£
286,848
(1,082)
285,766
-
(971)
2,578
287,373
321
287,694
272,502
Endowment
Fund
£
286,848
(1,082)
285,766
-
(971)
2,578
287,373
-
321
287,694
272,502		 General Fund
£
4,524,131
(139,841)
4,384,290
872,328
(747,616)
(73,424)
4,435,578
90,265
4,525,843
4,443,361
General Fund
£
4,524,131
(139,841)
4,384,290
872,328
(747,616)
(73,424)
4,435,578
10,000
90,265
4,535,843
4,443,361		 Total
£
4,810,979
(140,923)
4,670,056
872,328
(748,587)
(70,846)
4,722,951
90,586
4,813,537
4,715,863
Total
£
4,810,979
(140,923)
4,670,056
872,328
(748,587)
(70,846)
4,722,951
10,000
90,586
4,823,537
4,715,863

The investments are either listed on the UK Stock Exchange or in Open Ended Funds except for a £10,000 (2024: £10,000) investment in the trading subsidiary, Leighton Park Enterprises Limited; this represents 100% of its issued share capital.

Cash at bank and in hand includes cash equivalents on deposit with a maturity of less than three months that are held in investments for liquidity purposes.

30

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

10 INVESTMENTS (continued)

The subsidiary provides leisure and recreational services mainly to young people and donates its annual taxable profits to the Trust under Gift Aid. The Gift Aid donation for the year ended 31 August 2025 was £132,764 (2024: £157,643). Its results for the year were: turnover £334,582 (2024: £334,511), cost of sales £137,190 (2024: £114,885), operating expenses £64,956 (2024: £62,599), interest receivable £429 (2024: £616) and net assets £11,036 (2024: £11,036).

11 SUBSIDIARY

Holdings of more than 20%

The Trust holds more than 20% of the share capital in the following company:

Company Shares held
%
Subsidiary undertaking Registered office Class Direct Indirect
Leighton Park Enterprises Limited Leighton Park School, Ordinary 100 -
Shinfield Road, Reading,
Company No: 03156213 Berkshire, RG2 7ED

The principal activity of this undertaking for the last relevant financial year is the provision of leisure and recreational services mainly to young people.

12 DEBTORS

Fees receivable
Amounts owed by group
undertakings
Other debtors
Prepayments and accrued
income		 Group
2025
£
2024
£

3,607,283
286,786
-
-
16,615
43,916
259,628
413,869
3,883,526
744,571		 Trust
2025
£
2024
£
3,472,999
132,165
589,075
367,548
16,615
43,916
259,527
413,869
4,338,216
957,498		 Trust
2025
£
2024
£
3,472,999
132,165
589,075
367,548
16,615
43,916
259,527
413,869
4,338,216
957,498
957,498

Following the introduction of VAT on school fees from January 2025, fees invoiced in advance are shown within creditors (note 13) and amounts not received by the balance sheet date are shown above as fees receivable.

31

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

13 CREDITORS: Amounts fallings due within one year

Trade creditors
Taxation and social security
Fees in advance
Other creditors
Accruals
Deferred income
Deposits repayable
Advanced fee scheme
Bank loans		 Group
2025
£
2024
£

338,816
366,686
1,235,827
152,348
6,059,163
1,903,809
183,035
469,667
315,749
811,418
1,000
-
447,915
525,272
-
3,117,991
72,643
67,157
8,654,148
7,414,348		 Trust
2025
£
2024
£
338,816
366,686
1,235,827
152,348
6,059,163
1,903,809
183,035
462,520
276,544
751,268
-
-
447,915
525,272
-
3,117,991
72,643
67,157
8,613,943
7,347,051		 Trust
2025
£
2024
£
338,816
366,686
1,235,827
152,348
6,059,163
1,903,809
183,035
462,520
276,544
751,268
-
-
447,915
525,272
-
3,117,991
72,643
67,157
8,613,943
7,347,051
7,347,051

The advanced fee scheme represents amounts paid by parents to cover the fees for the whole of the next academic year. The scheme was not offered in the current year.

14 CREDITORS: Amounts falling due after more than one year

Group
2025
£
2024
£

Deposits repayable
1,501,745
1,379,357
Bank loans
4,736,068
4,808,706
6,237,813
6,188,063
Amounts included above which fall due after five years are as follows:
Payable by instalments
4,381,097
4,480,548
15
BORROWINGS
Group
2025
£
2024
£

Bank loans
4,808,711
4,875,863
Payable within one year
72,643
67,157
Payable after one year
4,736,068
4,808,706		 Group
2025
£
2024
£

1,501,745
1,379,357
4,736,068
4,808,706
6,237,813
6,188,063		 Trust
2025
£
2024
£
1,501,745
1,379,357
4,736,068
4,808,706
6,237,813
6,188,063		 Trust
2025
£
2024
£
1,501,745
1,379,357
4,736,068
4,808,706
6,237,813
6,188,063
6,188,063
4,381,097
4,480,548
Trust
2025
£
2024
£
4,808,711
4,875,863
72,643
67,157
4,736,068
4,808,706		 4,480,548

The bank loan incurs interest at the Bank of England base rate plus 2.93%. The loan is secured by a fixed and floating charge over the trade and assets of the Trust. Repayments fall due over a period of 25 years which commenced in August 2023.

32

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

16 DEFERRED INCOME (INCLUDING FEES IN ADVANCE)

At 1 September
Released from previous years
Amounts deferred in the year
At 31 August		 Group
2025
£
2024
£
1,903,809
1,924,609
(1,903,809)
(1,924,609)
6,060,163
1,903,809
6,060,163
1,903,809		 Trust
2025
£
2024
£
1,903,809
1,924,609
(1,903,809)
(1,924,609)
6,059,163
1,903,809
6,059,163
1,903,809		 Trust
2025
£
2024
£
1,903,809
1,924,609
(1,903,809)
(1,924,609)
6,059,163
1,903,809
6,059,163
1,903,809
1,903,809

Deferred income is made up of funds received in advance for Autumn term fees in the 2025/26 school year and deposits received for future conferences.

17 PENSIONS

There are two pension schemes available to certain employees of the Trust, the Teachers' Pension Scheme, and a group occupational pension scheme.

Teachers’ Pension Scheme

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,062,632 (2024: £920,669) and at the year-end £107,020 (2024: £110,564) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020.

The valuation report was published by the Department for Education on 26 October 2023. The key elements of the valuation and subsequent consultation are:

As a result of the valuation, new employer contribution rates were set at 28.68% of pensionable pay from April 2024 onwards (compared to 23.68% from September 2019 to 31 March 2023). These rates include a 0.08% administration levy.

Other Defined Contribution Pension Scheme

The School opened a new pension scheme during the year, including teaching staff who are not a part of the other schemes. Contributions of £4,846 were payable during the year, and at the year-end £929 was accrued in respect of contributions to this scheme.

33

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

17 PENSIONS (continued)

Pension Trust Growth Plan

All support staff are entitled to membership of the Pension Trust Growth Plan ("the Plan"). This is a multiemployer pension plan, which in most respects is a money purchase arrangement, although it does include certain guarantee elements as described below.

Contributions paid into the Plan up to and including September 2001 were converted to defined amounts of pension payable from normal retirement dates. From October 2001 contributions were invested in personal funds which have a capital guarantee and which are converted to pension on retirement, either within the Plan or by the purchase of an annuity.

The Trustee commissions an actuarial valuation of the Plan every three years. The purpose of the actuarial valuation is to determine the funding position of the Plan by comparing the assets with the past service liabilities as at the valuation date. Asset values are calculated by reference to market levels. Accrued past service liabilities are valued by discounting expected future benefits payments using a discount rate calculated by reference to the expected future investment returns.

The rules of the Plan give the Trustee the power to require employers to pay additional contributions in order to ensure that the statutory funding objective under the Pensions Act 2004 is met. The statutory funding objective is that a pension scheme should have sufficient assets to meet its past service liabilities, known as Technical Provisions.

As the last actuarial valuation revealed a deficit, the Trustee agreed a recovery plan to eliminate the deficit over a specified period of time by way of additional contributions from employers.

A full actuarial valuation of the scheme was carried out at 30 September 2017. The market value of the Plan's assets at the valuation date was £794.9 million and the Plan's Technical Provisions (i.e. past service liabilities) were £926.4 million. The valuation therefore revealed a shortfall of assets compared with the value of liabilities of £131.5 million, equivalent to a funding level of 86%.

Leighton Park Trust paid contributions at the rate of 7% totalling £360,678 (2024: £353,465 (7%)) during the accounting period. At the year end, contributions totalling £1,327 (2024: £1,431) were due to the Trust and are included within debtors. Members contributions were paid at the rate of 5% during the accounting period. Leighton Park Trust has also paid deficit contributions of £6,426 (2024: £9,272) during the period under review, as required by the Trustees of the Scheme and it is expected that these will continue for the foreseeable future. As at the balance sheet date there were 99 (2024: 110) active members of the Plan employed by Leighton Park Trust. Leighton Park Trust continues to offer membership of the Plan to its employees.

The net present value of the deficit contributions that will be made by Leighton Park School have been accrued and at the year end the liability was £15,070 (2024: £3,831).

18 MOVEMENT IN UNRESTRICTED FUNDS

Group
General fund
Designated funds:
Property fund
The Ian Austin bursary fund
Fee reserve		 At 1
September
2024
£
14,561,575
455,714
4,154,007
74,356
19,245,652		 Income
£
17,672,964
-
179,962
-
17,852,926		 Expenditure
£
(17,445,940)
-
(16,947)
-
(17,462,887)		 Transfers
and other
gains
£
102,211
-
-
(74,356)
27,855		 At
31 August
2025
£
14,890,810
455,714
4,317,022
-
19,663,546

34

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

18 MOVEMENT IN UNRESTRICTED FUNDS (continued)

Trust
General fund
Designated funds:
Property fund
The Ian Austin bursary fund
Fee reserve		 At 1
September
2024
£
14,560,539
455,714
4,154,007
74,356
19,244,616		 Income
£
17,470,818
-
179,962
-
17,650,780		 Expenditure
£
(17,243,794)
-
(16,947)
-
(17,260,741)		 Transfers
and other
gains
£
102,211
-
-
(74,356)
27,855		 At
31 August
2025
£
14,889,774
455,714
4,317,022
-
19,662,510

The General Fund represents the retained surpluses that have accumulated over the years that the Trust has been operating. The General Fund is used to fund capital expenditure and provide working capital.

The governors have established three designated funds. The property fund is designated for the construction of units of staff accommodation. The Ian Austin bursary fund is designated to provide fees assistance to enable pupils to attend the school with musical and/or academic ability. The fee reserve is designated to provide school fees assistance as required. The funds within the fee reserve have now expired and as such were transferred to the general fund at the year end.

Unrestricted funds prior year

Group
General fund
Designated funds:
Property fund
The Ian Austin bursary fund
Fee reserve
Trust
General fund
Designated funds:
Property fund
The Ian Austin bursary fund
Fee reserve		 At 1
September
2023
£
14,295,785
455,714
3,952,433
-
18,703,932
At 1
September
2023
£
14,294,749
455,714
3,952,433
-
18,702,896		 Income
£
16,782,984
-
-
-
16,782,984
Income
£
16,605,500
-
-
-
16,605,500		 Expenditure
£
(16,552,376)
-
-
-
(16,552,376)
Expenditure
£
(16,374,892)
-
-
-
(16,374,892)		 Transfers
and other
gains
£
35,182
-
201,574
74,356
311,112
Transfers
and other
gains
£
35,182
-
201,574
74,356
311,112		 At
31 August
2024
£
14,561,575
455,714
4,154,007
74,356
19,245,652
At
31 August
2024
£
14,560,539
455,714
4,154,007
74,356
19,244,616

35

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

19 MOVEMENT ON ENDOWMENT FUNDS

Group and Trust At 1 Transfers At
September and other 31 August
2024 Income Expenditure gains 2025
£ £ £ £ £
Scholarship and Prize fund 287,880 - - 2,560 290,440

The Scholarship and Prize fund is a permanent endowment which, by permission of the Charity Commission, amalgamates a number of smaller Trust funds. The agreed capital value of the fund at 31 August 2003 was £250,000.

Endowment funds prior year Endowment funds prior year
Group and Trust At 1 Transfers At
September and other 31 August
2023 Income Expenditure gains 2024
£ £ £ £ £
Scholarship and Prize fund 273,268 - - 14,612 287,880

20 MOVEMENT IN RESTRICTED FUNDS

Group and Trust
Drugs awareness fund
Bursary fund
Pavilion
School House donation
Musical instrument fund
Head’s discretionary fund
Academic departments
Other funds		 At 1
September
2024
£
5,150
961,482
10,150
2,338
1,826
4,454
26,799
9,224
1,021,423		 Income
£
-
116,694
-
-
1,440
5,000
221
11,431
134,786		 Expenditure
£
-
(187,644)
-
-
(868)
-
(8,299)
(1,431)
(198,242)		 Transfers
and other
gains
£
-
-
-
-
-
-
-
-
-		 At
31 August
2025
£
5,150
890,532
10,150
2,338
2,398
9,454
18,721
19,224
957,967

The other funds relate to a variety of restricted donations received by the Trust.

36

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

20 MOVEMENT IN RESTRICTED FUNDS (continued)

Restricted funds prior year

Group and Trust
Drugs awareness fund
Bursary fund
Pavilion
School House donation
Musical instrument fund
Head’s discretionary fund
Academic departments
Other funds		 At 1
September
2023
£
5,150
984,510
10,150
2,338
1,826
5,497
27,207
13,048
1,049,726		 Income
£
-
61,662
-
-
-
-
2,500
-
64,162		 Expenditure
£
-
(84,690)
-
-
-
(1,043)
(2,908)
(3,824)
(92,465)		 Transfers
and other
gains
£
-
-
-
-
-
-
-
-
-		 At
31 August
2024
£
5,150
961,482
10,150
2,338
1,826
4,454
26,799
9,224
1,021,423

21 FINANCIAL INSTRUMENTS

Group and Trust 2025 2024
£ £
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 4,823,537 4,820,979

22 ANALYSIS OF NET ASSETS BETWEEN FUNDS

2025
Tangible fixed assets
Investments
Net current
(liabilities)/assets
Long term liabilities
Defined benefit pension
scheme liability
TOTAL NET ASSETS
at 31 August 2025		 General
funds
£
22,459,233
4,525,843
(5,841,383)
(6,237,813)
(15,070)
14,890,810		 Designated
funds
£
-
-
4,772,736
-
-
4,772,736		 Endowment
funds
£
-
287,694
2,746
-
-
290,440		 Restricted
funds
£
-
-
957,967
-
-
957,967		 Total funds
£
22,459,233
4,813,537
(107,934)
(6,237,813)
(15,070)
20,911,953

37

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

22 ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)

2024
General
funds
£
Designated
funds
£
Tangible fixed assets
22,419,430
-
Investments
4,524,131
-
Net current
(liabilities)/assets
(6,190,092)
4,684,077
Long term liabilities
(6,188,063)
-
Defined benefit pension
scheme liability
(3,831)
-
TOTAL NET ASSETS
at 31 August 2024
14,561,575
4,684,077
23
CASH FLOWS FROM OPERATING ACTIVITIES
Net income for the year
Depreciation on tangible fixed assets
Realised gain on disposal of investments
Unrealised loss/(gain) on revaluation of investments
Defined benefit pension scheme movement
Interest paid
Interest received
Investment income
Profit on disposal of tangible fixed assets
Operating cash flows before movements in working capital
(Increase)/decrease in debtors
Increase in creditors
Net cash generated from operating activities		 Endowment
funds
£
-
286,848
1,032
-
-
287,880		 Restricted
funds
£
-
-
1,021,423
-
-
1,021,423
2025
£
356,998
1,323,870
(101,261)
70,846
11,239
347,285
(114,795)
(7,834)
(2,000)
1,884,348
(3,138,955)
4,517,981
3,263,374		 Total funds
£
22,419,430
4,810,979
(483,560)
(6,188,063)
(3,831)
20,554,955
2024
£
528,029
1,004,764
(4,787)
(320,937)
(8,805)
57,425
(83,323)
(5,524)
-
1,166,842
190,350
45,131
1,402,323

24 ANALYSIS OF CHANGES IN NET FUNDS

Cash at bank and in hand
Cash held at investment managers		 At 1
September
2024
£
6,186,217
140,923
6,327,140		 Cash flows
£
(1,523,529)
(50,337)
(1,573,866)		 At 31 August
2025
£
4,662,688
90,586
4,753,274

38

LEIGHTON PARK TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

25 RELATED PARTY TRANSACTIONS

During the year the Trust entered into transactions with Leighton Park Enterprises Limited, a related party, in the ordinary course of business. Recharges were made by the Trust to Leighton Park Enterprises Limited for services provided amounting to £37,960 (2024: £38,915).

The subsidiary, Leighton Park Enterprises Limited, provides leisure and recreational services mainly to young people and donates its annual taxable profits to the Trust under Gift Aid. The gift aid donation for this year was £132,865 (2024: £157,643).

At the year end the balances due from Leighton Park Enterprises Limited to the Trust were £589,075 (2024: £367,548).

26 FINANCIAL COMMITMENTS

At the reporting end date the Group and Trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases which fall due as follows:

Group and Trust
Operating leases which expire:
Within one year
Between two and five years		 2025
£
23,383
3,300
26,683		 2024
£
27,835
21,168
49,003

27 CAPITAL COMMITMENTS

At the reporting date, amounts committed to be paid but not provided in the financial statements amounted to £60,000 (2024: £808,400) for the Group and the Trust in respect of capital expenditure.

39