2025-08-31-accounts - Dragon School Trust Limited

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`C`	`Alexander`	`FT`
`J`	`CEdmondson`	`FT*`
`Dr`	`HR Gurprashad`	`S&MH*`
`D`	`CGoatman`	`FR&C*`
`N`	`LHelliwell`	`EM&A`
`CIMJones`		`FG Int+°`
`N`	`Millard`	`GS&MH`
`N`	`DPortwood`	`Int°`
`RCW Rambaut`		`R&C+°`
`IAVanEvery`		`M&AR&CSI*`
`W`	`AWebb`	`FG°`	`(resigned21stJune2025)`
`M`	`Witherick`	`SIG Int*`	`(resigned28thAugust2025)`
`P`	`CameronWatt`	`FGInt°`
`W`	`Goldsmith`	`E`

`E`	`EducationCommittee`
`F`	`FinanceCommittee`
	`GovernanceCommittee`
`SI`	`SocialImpactCommittee`
`M&A`	`Marketing& AdmissionsCommittee`
`R&C`	`Risk& ComplianceCommittee`

DRAGON SCHOOL TRUST LIMITED ANNUAL REPORT AND ACCOUNTS 2025: INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DRAGON SCHOOL TRUST LIMITED

(continued)

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

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Guy Biggin Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor Fourth Floor St James House St James' Square Cheltenham GLS0 3PR

Date: 2 April 2026

Page 4

	`Note`	`Unrestricted`	`Restricted`	`Endowed`	`Total`	`Total`
		`funds`	`funds`	`funds`	`funds`	`funds`
					`2025`	`2024`
		`£'000`	`£'000`	`£'000`	`£'000`	`£'000`
`INCOMEFROM:`
`Charitableactivities`
`Schoolfees`	`2.`	`22,926`	`-`	`-`	`22,926`	`22,453`
`Othereducational`	`3.`	`43`	`-`	`-`	`43`	`38`
`Otherancillarytrading`	`4.`	`19`	`-`	`=`	`19`	`30`
`Othertradingactivities`
`Non-ancillarytrading`		`234`	`-`	`-`	`234`	`185`
`Investments`
`Investmentincome`	`Ds`	`-`	`10`	`-`	`10`	`3`
`Bankandotherinterest`	`6.`	`428`	`-`	`-`	`428`	`857`
`Voluntarysources`
`Donationsandlegacies`	`7`	`72`	`1,739`	`-`	`1,811`	`1,472`
`Totalincome`		`23,722`	`1,749`	`-`	`25,471`	`25,038`
`EXPENDITUREON:`
`Raisingfunds`
`Fundraisingforvoluntaryresources`		`341`	`-`	`-`	`341`	`299`
`Trading`		`116`	`-`	`-`	`116`	`57`
`Other`		`79`	`-`	`-`	`79`	`136`
`Totalcostsofraisingfunds`		`536`	`-`	`-`	`536`	`492`
`Charitableactivities`
`Schoolsandgrantmaking`		`20,891`	`628`	`-`	`21,519`	`=21,399`
`Schools- financingcosts`	`9.`	`1,046`	`-`	`-`	`1,046`	`1,035`
`Totalcostsofcharitableactivities`		`21,937`	`628`	`-`	`22,565`	`22,434`
`Totalexpenditure`	`8.`	`22,473`	`628`	`-`	`23,101`	`22,926`
`NETINCOMEBEFOREINVESTMENT` `GAINS/(LOSSES)`		`1,249`	`1,121`	`-`	`2,370`	`2,112`
`Investment(losses)/ gains`	`15.`	`(57)`	`(27)`	`(4)`	`(88)`	`600`
`NETINCOME`		`1,192`	`1,094`	`(4)`	`2,282`	`2,712`
`Transfersbetweenfunds`	`25.`	`(605)`	`605`	`-`		`-`
`NETMOVEMENTINFUNDS`		`587`	`1,699`	`(4)`	`2,282`	`2,712`
`Fundbalancesat1 September2024`		`37,545`	`1,532`	`496`	`39,573`	`36,861`
`FUNDBALANCESAT31AUGUST2025`		`38,132`	`3,231`	`492`	`41,855`	`39,573`

	`Note`	`Group`		`Charity`	`Charity`
		`2025`	`2024`	`2025`	`2024`
		`£'000`	`£000`	`£'000`	`£'000`
`Fixedassets`
`Tangibleassets`	`12.`	`55,226`	`57,180`	`55,226`	`57,180`
`Investments`	`15.`	`9,768`	`9,115`	`9,768`	`9,115`
		`64,994`	`66,295`	`64,994`	`66,295`
`Currentassets`
`Stock`	`13.`	`1`	`1`	`-`	`=`
`Debtors`	`14.`	`4,730`	`1,658`	`4,795`	`1,632`
`Cashatbankandinhand`	`16.`	`11,431`	`12,860`	`11,217`	`12,714`
		`16,162`	`14,519`	`16,012`	`14,346`
`Creditors:duewithinoneyear`	`17.`	`(6,440)`	`(7,353)`	`(6,408)`	`(7,310)`
`Netcurrentassets`		`9,722`	`7,166`	`9,604`	`7,036`
`Totalassetslesscurrentliabilities`		`74,716`	`73,461`	`74,598`	`73,331`
`Creditors:dueinmorethanoneyear`	`18.`	`(32,861)`	`(33,888)`	`(32,861)`	`_(33,888)`
`Totalnetassets`	`26.`	`41,855`	`39,573`	`41,737`	`39,443`
`Endowmentfunds`		`492`	`496`	`492`	`496`
`Restrictedfunds`		`3,231`	`1,532`	`3,231`	`1,532`
`Unrestrictedfunds`		`38,132`	`37,545`	`38,014`	`37,415`
`Fundbalances`	`25.`	`41,855`	`39,573`	`41,737`	`39,443`

	`Note`			`2024`
		`£'000`	`£'000`	`£°000`	`£000`
`Netcashinflowfromoperations`	`(a).`		`810`		`2,873`
`Cashflowsfrominvestingactivities` `Interestreceived` `Receiptsfromdisposalsoffixedassets`		`428` `2,357`		`857` `29`
`Receiptsfromdisposalsofinvestments` `Paymentsforinvestments` `Investmentincomereceipts` `Paymentsfortangiblefixedassets` `Netcashusedininvestingactivities`		`(741)` `10` `(1,549)`	`505`	`(3,800)` `3` `(10,160)`	`(13,071)`
`Cashflowsfromfinancingactivities` `Interestpaid`		`(1,014)`		`(1,023)`
`Receiptsfromprepaidfeesscheme` `Paymentsfromprepaidfeesscheme` `Netcashusedinfinancingactivities`		`(1,730)`	`(2,744)`	`3,409` `(709)`	`1,677`
`Changeincashandcashequivalentsinthe`			`(1,429)`		`(8,521)`
`reportingperiod`
`Cashandcashequivalentsatthebeginning`			`12,860`		`21,381`
`ofthereportingperiod`
`Cashandcashequivalentsattheendofthe`			`11,431`		`12,860`
`reportingperiod`

`Reconciliationofnetincometocash` `flowfromoperatingactivities` `Netincome` `Investment(gains)`	`2025` `£'000` `2,282` `88`		`2024` `£000` `2,712` `(600)`
`(Gains)ondisposaloffixedassets` `Interestpayable` `Interestreceivable` `Investmentincome`	`1,046` `(428)` `(10)`	`=`	`(29)` `1,035` `(357)` `(3)`
`Depreciationcharges`	`1,146`		`803`
`Decreaseinstocks`		`-`	`6`
`Increaseindebtors`	`(3,072)`		`(875)`
`Decrease/(increase)increditors`	`(242)`		`681`
`Netcashinflowfromoperatingactivities`	`810`		`2,873`

		`1Sept2024`	`Cashflow`	`Other`	`31Aug2025`
				`movements`
		`£'000`	`£'000`	`£'000`	`£'000`
`Cash`	`atbankandinhand`	`12,860`	`(1,429)`	`-`	`11,431`
`Debt:`	`bankloans`	`(30,000)`	`-`	`-`	`(30,000)`
		`(17,140)`	`(1,429)`	`-`	`(18,569)`

`2.`	`CHARITABLEACTIVITIES` `-SCHOOLFEES`	`2025`	`2024`
		`£'000`	`£'000`
	`Schoolfeesandextras`	`23,833`	`22,544`
	`lessscholarships,Bursariesandgrants`	`(1,535)`	`(1,300)`
		`22,298`	`21,244`
	`Bursariespaidfromrestrictedfunds`	`628`	`1,209`
		`22,926`	`22,453`
`3.`	`CHARITABLEACTIVITIES—-OTHEREDUCATIONAL`	`2025`	`2024`
		`£'000`	`£'000`
	`Registrationfees`	`40`	`36`
	`Courses& conferences`	`3`	`2`
		`43`	`38`
`4.`	`CHARITABLEACTIVITIES— ANCILLARYTRADING`	`2025`	`2024`
		`£'000`	`£'000`
	`Fundraising`	`1`	`1`
	`Profitonsaleoffixedassets`	`18`	`29`
		`19`	`30`

`5.`	`INVESTMENTINCOME`		`2025`		`2024`
			`£'000`		`£000`
	`Listedandotherinvestments`		`10`		`3`
			`10`		`3`
`6.`	`BANKANDOTHERINTEREST`		`2025`		`2024`
			`£'000`		`£000`
	`Bankinterest`		`389`		`806`
	`Other`		`39`		`51`
			`428`		`857`
`7.`	`DONATIONSANDLEGACIES`		`2025`		`2024`
			`£'000`		`£'000`
	`Donationsforbursaries`		`627`		`1,035`
	`Legacies- restricted`		`997`		`174`
	`Legacies- unrestricted`		`72`		`24`
	`Otherdonations- restricted`		`115`		`239`
			`1,811`		`1,472`
`8a.`	`ANALYSISOFTOTALEXPENDITURE`
					`2025`
		`Staffcosts`	`Depr’n`	`Other`	`Total`
		`£'000`	`£'000`	`£'000`	`£'000`
	`Costofraisingfunds`
	`Fundraisingforvoluntaryresources`	`290`	`-`	`51`	`341`
	`Tradingcosts`	`-`	`-`	`116`	`116`
	`Othercosts`	`-`	`-`	`79`	`79`
	`Totalcostofraisingfunds`	`290`	`-`	`246`	`536`
	`Charitableactivities`
	`Schoolsandgrantmaking`
	`Teaching`	`9,324`	`164`	`1,506`	`10,994`
	`Welfare`	`1,656`	`15`	`2,573`	`4,244`
	`Premises`	`559`	`811`	`1,765`	`3,135`
	`Supportcostsofschooling(including`	`1,628`	`156`	`734`	`2,518`
	`governance— note8c)`
	`Grants,awardsandprizes(note8b)`	`-`	`-`	`628`	`628`
		`13,167`	`1,146`	`7,206`	`21,519`
	`Schools- financingcosts(note9)`	`-`	`-`	`1,046`	`1,046`
	`Totalcostsofcharitableactivities`	`13,167`	`1,146`	`8,252`	`22,565`
	`Totalexpenditure`	`13,457`	`1,146`	`8,498`	`23,101`

`ANALYSISOFTOTALEXPENDITURE(cont'd)`
`ryearcomparativeinformation`				`2024`
	`Staffcosts`	`Depr’n`	`Other`	`Total`
	`£'000`	`£'000`	`£'000`	`£'000`
`Costofraisingfunds`
`Fundraisingforvoluntaryresources`	`232`	`-`	`67`	`299`
`Tradingcosts`	`-`	`-`	`57`	`57`
`Othercosts`	`-`	`-`	`136`	`136`
`Totalcostofraisingfunds`	`232`	`-`	`260`	`492`
`Charitableactivities`
`Schoolsandgrantmaking`
`Teaching`	`9,305`	`74`	`1,206`	`10,585`
`Welfare`	`1,340`	`9`	`2,627`	`3,976`
`Premises`	`221`	`542`	`2,305`	`3,068`
`Supportcostsofschooling(including`	`1,521`	`178`	`862`	`2,561`
`governance— note8c)`
`Grants,awardsandprizes(note8b)`	`=`	`-`	`1,209`	`1,209`
	`12,387`	`803`	`8,209`	`21,399`
`Schools- financingcosts(note9)`	`-`	`-`	`1,035`	`1,035`
`Totalcostsofcharitableactivities`	`12,387`	`803`	`9,244`	`22,434`
`Totalexpenditure`	`12,619`	`803`	`9,504`	`22,926`
`RANTS,AWARDSANDPRIZES`
		`2025`		`2024`
		`£'000`		`£°000`
`FromRestrictedFunds:`
`Bursaries andothergrantsandawards`		`628`		`1,209`
		`628`		`1,209`
`OVERNANCECOSTS`
		`2025`		`2024`
		`£'000`		`£°000`
`Auditors’remuneration— audit(Group)`		`26`		`26`
`Auditors’remuneration— audit(subsidiary)`		`2`		`2`
`Auditors’remuneration— non-audit`		`20`		`2`
`ReimbursementofexpensestoGovernors`		`-`		`1`
`Othergovernancecosts`		`40`		`69`
		`88`		`100`

`FINANCINGCOSTS`	`2025`	`2024`
	`£'000`	`£'000`
`Interestpayableisdueon:`
`Bankloansandoverdrafts`	`1,014`	`1,023`
`Discountsallowedonprepaidfees`	`32`	`12`
	`1,046`	`1,035`

`EMPLOYEES`		`2025`	`2024`
		`£'000`	`£'000`
`Staffcosts:`
`Wagesandsalaries`		`10,925`	`10,247`
`NationalInsurance`		`1,150`	`1,036`
`Pensioncosts`		`1,341`	`1,311`
`Severancepay`	`:`	`41`	`25`
		`13,457`	`12,619`
`Thenumbersofemployeeswhoseremunerationwasover£60k`
`(includingseverancepay)fellintothefollowingbands:`		`No.`	`No.`
`£60-` `£70k`		`12`	`13`
`£70-` `£80k`		`4`	`3`
`£80-` `£90k`		`4`	`2`
`£90- £100k`		`1`	`1`
`£130-£140k`		`-`	`1`
`£140-£150k`		`1`	`=`
`£180-£190k`		`1`	`1`
`Thesehigherpaidstaffhaddefined`		`£'000`	`£'000`
`contributionpensionschemes,totalcost:`		`255`	`227`
`Totalpensioncostsweremadeupof:`		`£'000`	`£°000`
`Definedcontributionschemes`		`1,341`	`1,311`
		`1,341`	`1,311`

`Theaveragenumberofemployees,basedon`	`2025`	`2024`
`headcount,excludingGovernors,was:`	`No.`	`No.`
`Teaching`	`220`	`211`
`Pensioners`	`2`	`3`
`Supportstaff`	`97`	`99`
`Development`	`7`	`6`
	`326`	`319`

	`Assetsin`	`Freehold`		`Motor`	`Other`	`TOTAL`
	`Courseof`	`Property`		`vehicles`
	`Construction`
	`£'000`	`£'000`		`£'000`	`£'000`	`£'000`
`Cost`
`at1 September2024`	`14,542`	`49,387`		`109`	`8,364`	`72,402`
`additions`	`-`	`1,198`		`-`	`351`	`1,549`
`disposals`	`-`		`-`	`(75)`	`(2,548)`	`(2,623)`
`capitalgoodsschemeadjustment`	`-`	`(2,357)`		`-`	`-`	`(2,357)`
`transfers`	`(14,542)`	`14,542`		`-`	`-`	`-`
`at31August2025`	`-`	`62,770`		`34`	`6,167`	`68,971`
`Depreciation`
`at1 September2024`	`-`	`8,168`		`102`	`6,952`	`15,222`
`charge`	`-`	`567`		`2`	`577`	`1,146`
`releasedondisposal`	`-`		`-`	`(75)`	`(2,548)`	`(2,623)`
`at31August2025`	`-`	`8,735`		`29`	`4,981`	`13,745`
`Netbookvalue`
`at1 September2024`	`14,542`	`41,219`		`7`	`1,412`	`57,180`
`at31August2025`	`-`	`54,035`		`5`	`1,186`	`55,226`

`STOCKS`	`Group`			`Parentcompany`	`Parentcompany`
	`2025`	`2024`		`2025`	`2024`
	`£'000`	`£000`		`£'000`	`£'000`
`Goodsforresale`	`-`	`-`		`-`	`-`
`Consumables`	`1`	`1`		`-`	`-`
	`1`	`1`		`-`	`-`
`DEBTORS`	`Group`			`Parentcompany`
	`2025`	`2024`		`2025`	`2024`
	`£'000`	`£'000`		`£'000`	`£'000`
`Tradedebtors`	`634`	`553`		`625`	`551`
`Amountowedbysubsidiary`	`=`		`-`	`96`	`11`
`Loans`	`18`	`10`		`18`	`10`
`Prepayments`	`533`	`405`		`511`	`370`
`Accruedincome`	`1,188`	`690`		`1,188`	`690`
`Taxation`	`2,357`		`-`	`2,357`	`-`
	`4,730`	`1,658`		`4,795`	`1,632`
`INVESTMENTS`				`Groupandparent`
				`company`
				`2025`	`2024`
`Investmentsareshownatmarketvalue:`				`£'000`	`£'000`
`OtherU.K.listedinvestmentsheldasfixed assets`				`9,768`	`9,115`
				`9,768`	`9,115`
`Historicalcost:`				`9,010`	`8,269`
`Valueofinvestments:`
`broughtforward`				`9,115`	`4,715`
`disposalsatvaluebroughtforward`				`-`	`-`
`acquired`				`741`	`3,800`
`changeinunrealisedvalues`				`(88)`	`600`
`carriedforward`				`9,768`	`9,115`

`CASHATBANKANDINHAND`	`Group`		`Parent`	`company`
	`2025`	`2024`	`2025`	`2024`
	`£'000`	`£'000`	`£'000`	`£'000`
`Cashondeposit`	`10,624`	`12,118`	`10,624`	`12,118`
`Currentbankaccountsandpettycash`	`807`	`742`	`593`	`596`
	`11,431`	`12,860`	`11,217`	`12,714`

`CREDITORS:DUEWITHINONEYEAR`		`Group`		`Parentcompany`	`Parentcompany`
		`2025`	`2024`	`2025`	`2024`
		`£'000`	`£°000`	`£'000`	`£'000`
`Tradecreditors`		`1,178`	`1,881`	`1,161`	`1,875`
`Amountowedtosubsidiary`
`Taxationandsocialsecurity`		`185`	`289`	`185`	`264`
`Accruals`		`808`	`1,238`	`793`	`1,226`
`Othercreditors`		`26`	`-`	`26`	`-`
`Deferredincome`
`-feesreceivedinadvance`		`2,581`	`1,605`	`2,581`	`1,605`
`-depositsheld`		`629`	`670`	`629`	`670`
`-prepaidfeesscheme`		`1,033`	`1,670`	`1,033`	`1,670`
		`6,440`	`7,353`	`6,408`	`7,310`
`CREDITORS:DUEININMORETHANONEYEAR`				`Groupandparent`
				`company`
				`2025`	`2024`
				`£'000`	`£'000`
`Bankloans`				`30,000`	`30,000`
`Deferredincome:prepaidfees`				`939`	`2,000`
`Depositsheld`				`1,922`	`1,888`
				`32,861`	`33,888`
`ANALYSISOFLONGTERMCREDITORS`
`Longtermcreditorsaredueinlessthanfiveyearsexcept`	`as`	`follows:`
`Bankloans:`
`duewithinoneyear`
`duebetweentwoandfiveyears`
`dueinmorethanfiveyears`				`30,000`	`30,000`
				`30,000`	`30,000`
`Deferredincome- prepaidfees`	`19.`
`duewithinoneyear`				`1,033`	`1,670`
`duebetweentwoandfiveyears`				`846`	`1,848`
`dueinmorethanfiveyears`				`93`	`152`
				`1,972`	`3,670`
`Depositsheld:`
`duewithinoneyear`				`629`	`670`
`duebetweentwo andfiveyears`				`1,194`	`1,196`
`dueinmorethanfiveyears`				`728`	`692`
				`2,551`	`2,558`

	`Balanceat`	`Incoming`	`Outgoing`	`Investment`	`Transfers`	`Balanceat`
	`1Sept`	`resources`	`resources`	`(losses)/`	`between`	`31Aug`
	`2024`			`gains`	`funds`	`2025`
	`£'000`	`£000`	`£’000`	`£'000`	`£'000`	`£000`
`ENDOWMENTFUND`	`3`	`“`	`=`	`-`	`-`	`3`
`ENDOWEDBURSARIESFUND`	`493`	`-`	`-`	`(4)`	`-`	`489`
	`496`	`-`	`-`	`(4)`	`-`	`492`
`RESTRICTEDFUNDS`
`KnatchbullMemorialfund`	`124`	`10`	`-`	`17`	`-`	`151`
`Bursariesfunds`	`1,059`	`1,624`	`(628)`	`(44)`	`741`	`2,702`
`Capitalfund`	`-`	`110`	`-`	`-`	`(110)`	`-`
`Developmentfund`	`349`	`5`	`-`	`-`	`(26)`	`328`
	`1,532`	`1,749`	`(628)`	`(27)`	`605`	`3,231`
`UNRESTRICTEDFUNDS`
`Prepaidfees`	`z`	`-`	`(32)`	`-`	`32`	`2`
`Generalfund`	`37,415`	`23,488`	`(22,325)`	`(57)`	`(507)`	`38,014`
	`37,415`	`23,488`	`(22,357)`	`(57)`	`(475)`	`38,014`
`CHARITYtotalfunds`	`39,443`	`25,237`	`(22,985)`	`(88)`	`130`	`41,737`
`Non-charitytradingfunds`	`130`	`234`	`(116)`	`-`	`(130)`	`118`
`GROUP`	`39,573`	`25,471`	`(23,101)`	`(88)`	`-`	`41,855`
`Prioryearcomparative`	`Balanceat`	`Incoming`	`Outgoing`	`Investment`	`Transfers`	`Balanceat`
`information`	`1Sept`	`—resources`	`resources`	`gains`	`between`	`31Aug`
	`2023`				`funds`	`2024`
	`£°000`	`£'000`	`£’000`	`£'000`	`£000`	`£'000`
`ENDOWMENTFUND`	`3`	`-`	`-`	`=`	`=`	`3`
`ENDOWEDBURSARIESFUND`	`445`	`=`	`=`	`48`	`-`	`493`
	`448`	`ss`	`=`	`48`	`=`	`496`
`RESTRICTEDFUNDS`
`KnatchbullMemorialfund`	`105`	`4`	`=`	`15`	`:`	`124`
`Bursariesfunds`	`948`	`1,209`	`(1,209)`	`111`	`-`	`1,059`
`Capitalfund`	`-`	`207`	`-`	`-`	`(207)`	`=`
`Developmentfund`	`313`	`55`	`-`	`:`	`(19)`	`349`
	`1,366`	`1,475`	`(1,209)`	`126`	`(226)`	`1,532`
`UNRESTRICTEDFUNDS`
`Prepaidfees`	`:`	`-`	`(12)`	`=`	`12`	`-`
`Generalfund`	`35,010`	`23,378`	`(21,648)`	`426`	`249`	`37,415`
	`35,010`	`23,378`	`(21,660)`	`426`	`261`	`37,415`
`CHARITYtotalfunds`	`36,824`	`24,853`	`(22,869)`	`600`	`35`	`39,443`
`Non-charitytradingfunds`	`37`	`185`	`(57)`	`-`	`(35)`	`130`
`GROUP`	`36,861`	`25,038`	`(22,926)`	`600`	`=`	`39,573`

`26.FUNDS:NETASSETS`	`Fixed`	`Invest-`	`Othernet`	`Longterm`	`Totalnet`
	`Assets`	`ments`	`current`	`liabilities`	`\|Assetsat31`
			`assets`		`Aug2025`
	`£'000`	`£'000`	`£'000`	`£'000`	`£'000`
`ENDOWMENTFUND`	`-`	`-`	`3`	`-`	`3`
`ENDOWEDBURSARIESFUND`	`a`	`464`	`25`	`-`	`489`
	`-`	`464.`	`28`	`-`	`492`
`RESTRICTEDFUNDS`
`KnatchbullMemorialfund`	`-`	`95`	`55`	`-`	`150`
`Bursariesfunds`	`-`	`1,793`	`960`	`-`	`2,753`
`Developmentfund`	`-`	`-`	`328`	`-`	`328`
	`-`	`1,888`	`1,343`	`-`	`3,231`
`UNRESTRICTEDFUNDS`
`Prepaidfees`	`-`	`-`	`846`	`(846)`	`-`
`Generalfund`	`55,226`	`7,416`	`7,387`	`(32,015)`	`38,014`
	`55,226`	`7,416`	`8,233`	`(32,861)`	`38,014`
`CHARITYtotalfunds`	`55,226`	`9,768`	`9,604`	`(32,861)`	`41,737`
`Non-charitytradingfunds`	`-`	`-`	`118`	`-`	`118`
`GROUP`	`55,226`	`9,768`	`9,722`	`(32,861)`	`41,855`
`Prioryearcomparativeinformation`	`Fixed`	`Invest-`	`Othernet`	`—_Longterm`	`Totalnet`
	`Assets`	`ments`	`current`	`liabilities`	`assetsat31`
			`assets`		`Aug2024`
	`£°000`	`£°000`	`£°000`	`£°000`	`£°000`
`ENDOWMENTFUND`	`-`	`-`	`3`	`-`	`3`
`ENDOWEDBURSARIESFUND`	`-`	`468`	`25`	`-`	`493`
	`-`	`468`	`28`	`-`	`496`
`RESTRICTEDFUNDS`
`KnatchbullMemorialfund`	`-`	`78`	`46`	`=`	`124`
`Bursariesfunds`	`-`	`1,096`	`(37)`	`-`	`1,059`
`Developmentfund`	`-`	`-`	`349`	`-`	`349`
	`-`	`1,174`	`358`	`-`	`1,532`
`LINRESTRICTEDFUNDS`
`Prepaidfees`	`7`	`-`	`1,847`	`(1,847)`	`=`
`Generalfund`	`57,180`	`7473`	`4,803`	`(32,041)`	`37,415`
	`57,180`	`7,473`	`6,650`	`(33,888)`	`37,415`
`CHARITYtotalfunds`	`57,180`	`9,115`	`7,036`	`(33,888)`	`39,443`
`Non-charitytradingfunds`	`2`	`e`	`130`	`-`	`130`
`GROUP`	`57,180`	`9,115`	`7,166`	`(33,888)`	`39,573`

	`Unrestricted`	`Restricted`	`\|Endowed`	`Total`
	`funds`	`funds`	`funds`	`funds`
				`2024`
	`£'000`	`£°000`	`£°000`	`£'000`
`INCOMEFROM:`
`Charitableactivities`
`Schoolfees`	`22,453`	`-`	`-`	`22,453`
`Othereducational`	`38`	`-`	`-`	`38`
`Otherancillarytrading`	`30`	`-`	`-`	`30`
`Othertradingactivities`
`Non-ancillarytrading`	`185`	`-`	`-`	`185`
`Investments`
`Investmentincome`	`-`	`3`	`-`	`3`
`Bankandotherinterest`	`857`	`-`	`z`	`857`
`Voluntarysources`
`Donationsandlegacies`	`-`	`1,472`	`-`	`1,472`
`Totalincome`	`23,563`	`1,475`	`-`	`25,038`
`EXPENDITUREON:`
`Raisingfunds`
`Fundraising` `forvoluntaryresources`	`299`	`-`	`>`	`299`
`Trading`	`57`	`-`	`-`	`57`
`Other`	`136`	`-`	`-`	`136`
`Totalcostsofraisingfunds`	`492`	`=`	`-`	`492`
`Charitableactivities`
`Schoolsandgrantmaking`	`20,190`	`1,209`	`-`	`21,399`
`Schools- financingcosts`	`1,035`	`:`	`-`	`1,035`
`Totalcostsofcharitableactivities`	`21,225`	`1,209`	`-`	`22,434`
`Totalexpenditure`	`21,717`	`1,209`	`-`	`22,926`
`NETINCOMEBEFOREINVESTMENT`
`GAINS/(LOSSES)`	`1,846`	`266`	`=`	`2,112`
`Investmentgains/(losses)`	`426`	`126`	`48`	`600`
`NETINCOME`	`2,272`	`392`	`48`	`2,712`
`Transfersbetweenfunds`	`226`	`(226)`	`-`		`=`
`NETMOVEMENT` `INFUNDS`	`2,498`	`166`	`48`	`2,712`
`Fundbalancesat1 September2023`	`35,047`	`1,366`	`448`	`36,861`
`FUNDBALANCESAT31AUGUST2024`	`37,545`	`1,532`	`496`	`39,573`