**Registered number: 01067862 Charity number: 309911**
## **THE BEACON EDUCATIONAL TRUST LIMITED**
**(A company limited by guarantee)**
**GOVERNORS' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2025**
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the company, its Governors and advisers**|1|
|**Governors' report**|2 - 7|
|**Governors' responsibilities statement**|8|
|**Independent auditor's report on the financial statements**|9 - 12|
|**Statement of financial activities**|13|
|**Balance sheet**|14|
|**Statement of cash flows**|15|
|**Notes to the financial statements**|16 - 33|
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025**
|**Governors**|D C L Miller, Chair4|
|---|---|
||M Thompson, Vice Chair3|
||R Herbert1|
||S Horrocks (resigned 30 September 2025)2,3|
||P McGlone1|
||J G Rampin1,3|
||B Shah1,3|
||A Wansbrough1,3|
||D Thaker1,3|
||J Aviss2|
||D Atkinson2|
||T Handcroft (resigned 31 March 2025)|
||W Land2|
||T Hockedy (appointed 23 May 2025)2|
|1
Member of the Finance and General Purposes Committee
2
Member of the Education Committee
3
Member of the Admissions and Marketing Committee
4
Member of the Human Resources Committee
**Company registered**
**number**
01067862
**Charity registered**
**number**
309911
**Registered office**
Amersham Road
Chesham Bois
Amersham
Buckinghamshire
HP6 5PF
**Company secretary**
F Muzika
**Officers**
N R Baker BA (Hons) PGCE, The Headmaster
F Muzika ACA, Director of Finance & Operations
H J Farrelly, Clerk to the Governors
**Independent auditor**
Crowe U.K. LLP
R+ Building
2 Blagrave Street
Reading
Berkshire
RG1 1AZ
**Bankers**
National Westminster Bank plc
Oakfield Corner
Hill Avenue
Amersham
Buckinghamshire
HP6 5BU||
Page 1
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025**
The members of The Beacon Educational Trust Limited Governing Body present their annual report for the year ended 31 August 2025 under the Charities Act 2011 and the Companies Act 2006, thus including the Directors' Report and Strategic Report under the 2006 Act, together with the audited financial statements for the year. The members are Directors, Trustees and Governors and these terms are all used within this report.
## **DIRECTORS' REPORT**
## **Constitution and Objects**
The Beacon Educational Trust Limited is a charitable company limited by guarantee. Its Charity registration number is 309911 and the company registration number is 01067862. The registered office and principal address of the company is Amersham Road, Chesham Bois, Amersham, Buckinghamshire, HP6 5PF.
The company is governed by its Memorandum and Articles of Association, which state that its object is to advance the education of the public. In furtherance thereof, the company operates The Beacon School, a preparatory school.
## **Aims, Objectives and Activities**
## **Aims**
The Beacon aims to inspire boys to achieve their best within a happy, safe and stimulating environment, providing education of the highest quality delivered by caring and dedicated teachers. To achieve this, the School continues with the support of parents to:
- Promote high standards of academic achievement through consistent expectation and encouragement.
- Nurture talent and provide opportunity for all in the areas of art, drama, music, sport and technology.
- Enable pupils to develop the social and emotional skills needed to believe in themselves, to show consideration for others and to value diversity.
- Foster lifelong thinking, learning and communication skills to enable pupils to work independently and as part of a team.
## **Primary Objectives**
Key elements of the School's strategy are to:
1. Maintain a broad curriculum that is directed towards independent and lifelong learning.
2. Uphold the traditional values associated with preparatory education, through its pastoral system, whilst ensuring that pupils are taught the skills and knowledge they will need to meet the challenges of the changing world.
3. Embed information technology into the curriculum as the principal means of enhancing teaching and learning.
4. Provide new and improved existing buildings and other facilities to support the educational, cultural and pastoral aims of the School.
Page 2
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Governance and Management**
## **Governing Body**
The directors serve as trustees of the Charity and under the terms of the above Articles are also members of the company. Each director is elected by the Board of directors on the basis of nominations received from serving directors, the headmaster and others. Directors are selected on the basis of their skills and suitability. The chairman of the Board is responsible for the induction of new directors, which includes making them aware of their responsibilities, the governing documents, administrative procedures, the history and philosophical approach of the company and previous annual reports and accounts. Every director is vetted for safeguarding purposes prior to appointment.
The first term of office for a director shall be: (a) for an ex officio director - while he or she holds office; and (b) for other Directors - three years; provided that the Directors may determine that the Director shall in fact retire at the end of a meeting of the Board of Directors held within twelve months of the end of the Director's term of office. A Director who has served two consecutive terms of three years may be reappointed for a further term not exceeding two years if the Board considers that the Director's reappointment would be in the best interests of the Charity. At the end of that term, the Director may be reappointed by the Board for a further term not exceeding 2 years, subject to the same considerations, and may be appointed for further terms (each term not exceeding 2 years) thereafter on the same basis. A retired Director may be reappointed to hold office, provided that a year has elapsed since he or she last held office as a Director and provided that the Board considers that it would be in the best interests of the Charity for him or her to be eligible for reappointment.
The directors usually meet as a Board three or more times per year to determine policy and to monitor the operations of the company. Their role is assisted by the work of the Board Committees which usually meet a few weeks before each regular meeting of the Board. The day-to-day running of the School is delegated to the headmaster who, with the Director of Finance and Operations ("DFO"), is assisted by other members of the School leadership team.
## **Employment Policy**
The School supports the attainment of the highest standards of education through rigorous and continuous evaluation of quality and performance, the application of best practice and a widespread desire to improve standards. The School co-operates with local organisations to widen public access to its facilities.
The School is an equal opportunities employer. Full and fair consideration is given to job applications from persons with protected characteristics and due consideration is given to their training and employment needs. Consultation with employees continues on an ongoing basis with the aim of taking employees into account when decisions are made that are likely to affect their interests.
## **Remuneration Policy for Key Management**
Remuneration of the headmaster and the DFO is set by the Remuneration Committee after appropriate consultation and benchmarking in order to ensure recruitment and retention of quality staff.
Page 3
## **THE BEACON EDUCATIONAL TRUST LIMITED (A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **PROVISION OF INFORMATION TO AUDITORS**
Each of the persons who are directors at the time when this Report is approved has confirmed that:
- so far as that director is aware, there is no relevant audit information of which the School’s auditors are unaware; and
- that director has taken all steps that ought to have been taken as a director in order to be aware of any relevant audit information needed by the School’s auditors in connection with preparing their report and to establish that the School’s auditors are aware of that information.
## **AUDITORS**
A resolution proposing the re-appointment of Crowe U.K. LLP as auditors to the company will be put to the Annual General Meeting.
## **STRATEGIC REPORT**
## **Mission Statement**
The School's mission is to inspire boys to achieve their best within a happy, secure and stimulating environment, providing education of the highest quality, delivered by an enthusiastic and committed team of teachers and staff.
## **Strategies to Achieve the Primary Objectives**
To achieve this aim the School will, with the support of parents:
- Promote high standards of academic achievement through consistent expectation and encouragement.
- Nurture talent, and provide opportunities for all, in the areas of art, drama, music, sport and technology.
- Enable pupils to develop the social and emotional skills needed to believe in themselves, show consideration for others and value diversity.
- Foster lifelong thinking, learning and communication skills to enable pupils to work independently and as part of a team.
## **Achievements and Performance**
The school's strong and stable roll confirms the degree of satisfaction and reputation of The Beacon in the local and regional market. Senior School exit continues to reflect the academic achievements of the boys with the school maintaining its position as a feeder to local state grammar (35 boys) and the local independent day schools: Berkhamsted (12), Merchant Taylors' (8), Reading Blue Coat (2) amongst others at 11+. Despite some local prep schools closing their Years 7 and 8 due to lack of numbers, The Beacon, as a School and as a parent community remains committed to a 13+ exit with 23 boys staying on to Year 7 to attend boarding schools (i.e. Eton, Harrow, Wellington, Bradfield) and other day alternatives at 13. A total of 14 scholarships were awarded to boys across a range of areas: Academic, Sport, Drama, Music, DT and Art.
Across the school, boys in all year groups have been successful in external competitions. The U13 football team qualified for the national IAPS competition, U13 skiers won national IAPS medals and the U13 hockey team reached the national finals. Individual boys achieved medals in national athletics competition with one boy setting the national U13 record for high jump and another winning a silver in the U13 breaststroke in swimming. The U11 Chess Team came second in the national finals. Over 20 boys participated in the Townsend Warner History prize with four boys placed in the top 50.
Page 4
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
The boys across all year groups have excelled in Cooking and Nutrition with over 100 boys competing in their year group Mastercook competitions, externally judged by local restaurateurs. For the first time, the school established a IAPS Cooking and Nutrition competition inviting schools nationwide. In Performing Arts, whole year group performances in Year 4 (Dragon Days), Year 6 (Chitty Chitty Bang Bang) and Year 8 (Archie Dobson’s War) were all successful and very well received, pushing performance values to their highest point so far. A drama group of 24 boys in two companies took their performance of ‘Sister Act Jnr’ to Edinburgh festival in August.
## **Capital projects**
The School has continued to invest substantial capital expenditure in the enhancement of its facilities and equipment during the year. Refurbishment of the front office and staff room areas , added to air conditioning and heat gain control measures where climate change has had most effect, has enhanced the environment for the broader Beacon community. Additionally there has been extensive replacement of IT equipment for educational purposes, the school’s website was modernized, and school transport resources were expanded. The school continues to review its options with regard to its property at 21 Amersham Road.
## **Public Benefit**
## **Bursaries and Scholarships**
The Governors continue to be committed to broadening access to the School by offering means-tested bursaries of up to 100% to enable more boys whose parents would not otherwise be able to afford the fees to benefit from the School's education and facilities.
In 2024/25, seven boys in the School benefited from 100% fee bursaries, one from 80% , one from 50%, and two from lesser bursaries, to a total value of £214,891 _(2024: £181,023)_ . These bursaries also covered all reasonable educational extras, such as uniform, equipment, School trips and other extra-curricular activities.
## **Beacon Bursary Fund**
The Beacon Bursary Fund is a Charity set up and run independently of the School, by five trustees. Its purpose is to assist with funding for the education of pupils of The Beacon School, whose parents encounter temporary financial difficulties, and who might otherwise have to withdraw their son(s) from the School at a time detrimental to their educational progress. The fund derives its income from parental donations, gift aid and investment income. In 2024/25 financial assistance to the value of £53,473 _(2024: £7,275)_ was given by the fund.
## **Community Links**
The School co-operates with local charities and community based organisations in order to widen public access and to share its cultural and sporting facilities. Efforts continue to develop and expand in this respect.
In particular, the School's facilities are offered for modest rents to locally based clubs, and the School hosts sporting and academic competitions in which local Schools participate.
Free use of the school's swimming pool has continued to be provided for Horizon Sports Club, a local disabled children's sports charity.
There is a continued focus on giving support via free use of the school's facilities to The Theatre Shed whose vision is to build a sustainable theatre that brings together many more children and adults from a range of backgrounds to create wonderfully innovative, inspiring, inclusive theatre.
The School is always keen to maintain a good working relationship with the neighbouring residents and the local community. In addition, the school has hosted tea parties for local veterans.
Page 5
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Charitable Fund Raising**
The School's on-going commitment to charitable fundraising has continued as demonstrated by events to support a number of national charities including NSPCC, Chiltern Foodbank, Macmillan, Cancer Support, Buckinghamshire Mind, Children’s Hospital Pyjamas, Poppy Appeal, Anti-bullying Alliance, Movember, Pets As Therapy, Robs Artt, Muscular Dystrophy UK, Miracles, Angus lawson Memorial Trust, PACE, and the Lhezie Foundation. We also raise money towards the Beacon Bursary Fund.
## **Volunteers**
The School benefits from the fund-raising activities of parents through The Beacon Parents' Society, whose hard work and support is greatly appreciated by the Governors.
## **Financial Review**
## **Results for the Year**
Total income amounted to £10,023,281 _(2024: £10,017,317)_ . Net incoming resources for the year were £220,591 compared with £875,905 in 2023/24. The introduction of VAT on School Fees from January 2025 together with higher taxes on employment and inflationary pressures, all contributed to the significant fall in the surplus for the year.
During the year a total of £401,731 _(2024: £1,240,395)_ was spent on capital projects to enhance the appearance, security and functionality of the School.
## **Reserves Level and Policy**
The Governors' policy is to maintain the company's free reserves at a minimum of £2m, to cover the immediate needs for essential operating expenditure for one term. The Governors plans to achieve this will however inevitably be affected by periodic opportunities to equip the School with the up-to-date facilities needed to maintain the standard of educational services provided for the benefit of future pupils.
The School's unrestricted funds stood at £18,256,440 _(2024: £18,006,833)_ at the end of the period. After adjusting for unrestricted functional fixed assets for the Charity's own use and the loans connected there to, free reserves stood at £2,082,938 _(2024: £2,389,896)_ .
## **FUTURE PLANS**
The company's future plans include:
- Continuing to provide education of the highest quality.
- Implementation of “The Beacon Vision”.
- Maintaining sound financial management.
Page 6
## **THE BEACON EDUCATIONAL TRUST LIMITED (A company limited by guarantee)**
## **GOVERNORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Risk Management**
The Board keeps the School's activities under review and monitors the risks that arise from time to time, together with the systems and procedures established to manage them. The Board monitors the effectiveness of the system of internal controls and other means, including insurance cover, by which those identified risks can be mitigated. The key controls used include:
- Formal agendas for all Board and committee meetings.
- Detailed terms of reference for all committees.
- Comprehensive strategic planning, budgeting and management accounting.
- Established organisational structure and lines of reporting.
- Formal written policies.
- Clear authorisation and approval levels.
- Vetting procedures for the protection of the children.
The major risks are maintenance of academic standards (mitigated via recruitment procedures as well as appraisal process), child protection (mitigated via strict adherence to safeguarding rules) and quality of the School facilities (mitigated by the latest School vision).
Through these procedures, the Board is satisfied that major risks should be identified and mitigated against so far as practicable whilst recognising that systems provide reasonable but not absolute assurance that all risks are identified.
The School purchases indemnity insurance for the Governors.
## **Risks and Threats to the Independent Schools’ Sector**
Through the School's links to and membership of the Independent Association of Prep Schools (IAPS) and the Independent Schools' Bursars Association (ISBA) the School keeps itself abreast of issues facing the sector as a whole.
The School monitors all threats, such as the risk of pandemics, cyber attack , the general economic and political climate, including the ongoing impact of the introduction of VAT on school fees and the removal of business rates relief for independent schools, and will take appropriate action to adjust budgets and plans should it become necessary.
The Governors are confident in the School's ability to manage these risks.
This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Governors of the Beacon Educational Trust Limited in March 2026 including in their capacity as company directors approving the Strategic Report contained therein.
Approved by order of the members of the board of Governors and signed on their behalf by:
**D C L Miller** (Chairman)
Date: 19 March 2026
Page 7
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF GOVERNORS' RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025**
The Governors (who are also the directors of the company for the purposes of company law) are responsible for preparing the Governors' report including the Strategic 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 Governors to prepare financial statements for each financial . Under company law, the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Governors are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 8
## **THE BEACON EDUCATIONAL TRUST LIMITED (A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEACON EDUCATIONAL TRUST LIMITED**
## **Opinion**
We have audited the financial statements of The Beacon Educational Trust Limited (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Governors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this report.
Page 9
## **THE BEACON EDUCATIONAL TRUST LIMITED (A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEACON EDUCATIONAL TRUST LIMITED (CONTINUED)**
## **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 Governors 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.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Governors' report including the Strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Governors' report and the Strategic report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Governors' report including the Strategic report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Governors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
Page 10
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEACON EDUCATIONAL TRUST LIMITED (CONTINUED)**
## **Responsibilities of trustees**
As explained more fully in the Governors' responsibilities statement, the Governors (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 Governors 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 Governors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Charities Act together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. Auditing standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of the Governors and other management and inspection of regulatory and legal correspondence, if any.
The greatest risk of material impact on the financial statements is from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance and General Purposes Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.
Page 11
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BEACON EDUCATIONAL TRUST LIMITED (CONTINUED)**
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have 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 noncompliance 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 noncompliance and cannot be expected to detect noncompliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
## **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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.
**Alastair Lyon (Senior statutory auditor)** for and on behalf of
**Crowe U.K. LLP** Statutory Auditor R+ Building 2 Blagrave Street Reading Berkshire RG1 1AZ
Date: 26 March 2026
Page 12
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025**
|**Note**
**Income from:**
Donations and legacies
4
Charitable activities:
School fees receivable
5
Ancillary trading income
6
Other trading activities:
Rent and facility hire
Investments:
Interest received
**Total income**
**Expenditure on:**
Raising funds
7
Charitable activities
8
**Total expenditure**
**Net income**
Transfers between funds
17
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**-**
**9,453,787**
**195,584**
**196,263**
**137,624**
**9,983,258**
**30,486**
**9,769,138**
**9,799,624**
**183,634**
**65,973**
**249,607**
**18,006,833**
**249,607**
**18,256,440**|**Restricted**
**funds**
**2025**
**£**
**40,023**
**-**
**-**
**-**
**-**
**40,023**
**-**
**3,066**
**3,066**
**36,957**
**(65,973)**
**(29,016)**
**84,505**
**(29,016)**
**55,489**|**Total**
**funds**
**2025**
**£**
**40,023**
**9,453,787**
**195,584**
**196,263**
**137,624**
**10,023,281**
**30,486**
**9,772,204**
**9,802,690**
**220,591**
**-**
**220,591**
**18,091,338**
**220,591**
**18,311,929**|_Total_
_funds_
_2024_
_£_
_90,525_
_9,358,083_
_198,303_
_206,149_
_164,257_|
|---|---|---|---|---|
|||||_10,017,317_|
|||||_76,124_
_9,065,288_|
|||||_9,141,412_|
|||||_875,905_
_-_|
|||||_875,905_|
|||||_17,215,433_
_875,905_|
|||||_18,091,338_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 16 to 33 form part of these financial statements.
Page 13
## **THE BEACON EDUCATIONAL TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 01067862**
## **BALANCE SHEET AS AT 31 AUGUST 2025**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Stocks
Debtors
13
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
15
**Total net assets**
**Charity funds**
Restricted funds
17
Unrestricted funds
17
**Total funds**|**2,782**
**2,573,615**
**4,573,336**
**7,149,733**
**(4,675,406)**|**2025**
**£**
**16,175,502**
**2,474,327**
**18,649,829**
**(337,900)**
**18,311,929**
**55,489**
**18,256,440**
**18,311,929**|_5,474_
_2,208,083_
_5,707,100_
_7,920,657_
_(5,128,934)_|_2024_
_£_
_16,747,701_
_2,791,723_
_19,539,424_
_(1,448,086)_
_18,091,338_
_84,505_
_18,006,833_
_18,091,338_|
|---|---|---|---|---|
The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Governors and signed on their behalf by:
**D C L Miller** (Chairman) Date: 19 March 2026
The notes on pages 16 to 33 form part of these financial statements.
Page 14
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025**
|**Note**
**Cash flows from operating activities**
Net cash provided by operating activities
19
**Cash flows from investing activities**
Interest received
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
Repayments of borrowing
Advanced fees utilised
Receipts from advanced fees
Interest paid and advance payment discounts
**Net cash (used in)/provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
20|**2025**
**£**
**507,369**
**137,624**
**53,472**
**(401,731)**
**(210,635)**
**(1,128,764)**
**(415,178)**
**143,930**
**(30,486)**
**(1,430,498)**
**(1,133,764)**
**5,707,100**
**4,573,336**|_2024_
_£_
_1,768,677_
_164,257_
_668_
_(1,240,395)_
**(1,075,470)**
_(131,515)_
_(449,357)_
_1,136,140_
_(76,124)_
**479,144**
**1,172,351**
_4,534,749_
_5,707,100_|
|---|---|---|
The notes on pages 16 to 33 form part of these financial statements
Page 15
**THE BEACON EDUCATIONAL TRUST LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **1. General information**
The Beacon Educational Trust’s principal activity continued to be the provision of a Day School for 3-13 year old boys. The incorporated Charity (Charity registration number 309911, Company registration number 01067862), is incorporated and domiciled in the UK and is a company limited by guarantee. The address of the registered office is Amersham Road, Chesham Bois, Amersham, Buckinghamshire, HP6 5PF.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Beacon Educational Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
The scale of effects on families and the School, economic and otherwise, in respect of the Covid global pandemic, may have subsided, however the international political landscape has since become more unstable and contributing to the cost of living crisis in the UK. However the School has prepared conservative financial projections for the near to medium term which indicate that even if Government restrictions forced the School site to close again, the School is financially well placed to withstand such headwinds.
Having reviewed the funding facilities available to the School together with the expected on-going demand for places and the School's future projected cash flows, the Governors have a reasonable expectation that the School has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
## **2.3 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Amounts billed for termly fees and extra curricula activities are recognised as incoming resources when receivable. Amounts received prior to the balance sheet date for autumn term fees are recorded as fees received in advance, as are amounts received for future fee periods under the fee prepayment scheme. Fees receivable are stated after deducting allowances, bursaries and other remissions granted by the School.
Page 16
**THE BEACON EDUCATIONAL TRUST LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Taxation**
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 17
## **THE BEACON EDUCATIONAL TRUST LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.7 Tangible fixed assets and depreciation (continued)**
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Freehold buildings - 2% straight line Minor works - 10% straight line Motor vehicles - 25% straight line Fixtures, fittings and equipment - 10% straight line Computer equipment - 33% straight line
## **2.8 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.12 Financial instruments**
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 18
## **THE BEACON EDUCATIONAL TRUST LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.13 Operating leases**
## **As Lessee**
Rentals paid under operating leases are charged to the Statement of financial activities on a straightline basis over the lease term.
## **As Lessor**
In respect of operating leases for which the School is the lessor, the rents received are recognised in the financial statements in the period they relate to.
## **2.14 Pensions**
The School contributes to the Teachers’ Pension Scheme at rates set by the Scheme Actuary and advised to the School by the Scheme Administrator. The scheme is a multi-employer pension scheme and is not possible to identify the assets and liabilities of the scheme, which are attributable to the School. In accordance with FRS 102 therefore, the scheme is accounted for as a defined contribution scheme.
The School also contributes to a defined contribution scheme for non-teaching staff.
The contributions are charged in the Statement of Financial Activities in the year in which they are payable.
The pension costs charged in the year for the Teachers’ Pension Scheme are based on the contributions made to the centralised Government pension scheme run by the Department of Education as stated in note 23 to these financial statements. From 1 May 2024 teaching staff have a choice of remaining in the Teachers' Pension Scheme or joining the defined contribution scheme.
## **2.15 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **2.16 Pupil Fee Deposits**
The Governors have reviewed the contract terms under which Pupil fee deposits are held by the School. Although under normal circumstances these will be repaid over future years when the pupils complete their education at the School, pupils can leave at earlier dates. The School does not therefore have an unconditional right to retain the individual deposits for at least 12 months after the balance sheet date and, in line with the requirements in FRS 102, the balance of the deposits held at the year-end have been included within current liabilities. The prior year Pupil fee deposits balance has been similarly re-presented.
Page 19
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **3. Critical accounting estimates and areas of judgment**
In the application of the Charity’s accounting policies, which are described in note 2, Governors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
Critical accounting estimates and assumptions:
The Governors consider there are no material sources of estimation uncertainty on the amounts recognised in the financial statements.
## **4. Income from donations and legacies**
|Donations
Donations
**Fees receivable**
School fees receivable consist of:
Gross fees
Less: Bursaries & Allowances
**Net fees receivable**|**Restricted**
**funds**
**2025**
**£**
40,023
_Restricted_
_funds_
_2024_
_£_
_90,525_
**2025**
**£**
**9,730,763**
**(276,976)**
**9,453,787**|**Total**
**funds**
**2025**
**£**
**40,023**
_Total_
_funds_
_2024_
_£_
_90,525_
_2024_
_£_
_9,614,623_
_(256,540)_
_9,358,083_|
|---|---|---|
## **5. Fees receivable**
The total fees receivable is unrestricted in both the current and the prior year.
Page 20
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **6. Ancillary trading income**
|Fees in lieu of notice
School bus
Registration charges
Learning support fees
After school care
Deposits forfeited
Music tuition and instrument hire
Miscellaneous income|**2025**
**£**
**-**
**109,675**
**11,354**
**24,821**
**13,038**
**4,046**
**1,475**
**31,175**
**195,584**|_2024_
_£_
_20,875_
_89,017_
_19,705_
_34,673_
_11,310_
_5,728_
_1,250_
_15,745_|
|---|---|---|
|||_198,303_|
The total ancillary trading income is unrestricted in both the current and prior year.
## **7. Expenditure on raising funds**
|**Unrestricted**
**funds**
**2025**
**£**
On bank loans and overdrafts
19,752
Advance payment of fees discount
10,734
30,486
_Unrestricted_
_funds_
_2024_
_£_
On bank loans and overdrafts
_72,342_
Advance payment of fees discount
_3,782_
_76,124_|**Total**
**funds**
**2025**
**£**
**19,752**
**10,734**|
|---|---|
||**30,486**|
||_Total_
_funds_
_2024_
_£_
_72,342_
_3,782_|
||_76,124_|
Page 21
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **8. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2025**
**£**
Teaching costs
5,563,420
Welfare costs
643,930
Premises costs
1,815,318
Support costs
1,665,705
Governance costs
80,765
**Total 2025**
9,769,138
_Unrestricted_
_funds_
_2024_
_£_
Teaching costs
_5,291,942_
Welfare costs
_667,970_
Premises costs
_1,456,505_
Support costs
_1,515,956_
Governance costs
_79,197_
_Total 2024_
_9,011,570_|**Restricted**
**funds**
**2025**
**£**
-
-
-
3,066
-
3,066
_Restricted_
_funds_
_2024_
_£_
_-_
_-_
_52,468_
_1,250_
_-_
_53,718_|**Total**
**2025**
**£**
**5,563,420**
**643,930**
**1,815,318**
**1,668,771**
**80,765**|
|---|---|---|
|||**9,772,204**|
|||_Total_
_2024_
_£_
_5,291,942_
_667,970_
_1,508,973_
_1,517,206_
_79,197_|
|||_9,065,288_|
Page 22
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **8. Analysis of expenditure on charitable activities (continued)**
## **Summary by expenditure type**
|Teaching costs
Welfare costs
Premises costs
Support costs
Governance costs
**Total 2025**
Teaching costs
Welfare costs
Premises costs
Support costs
Governance costs
_Total 2024_|**Staff costs**
**2025**
**Depreciation**
**2025**
**£**
**£**
4,814,551
302,025
180,261
-
145,265
604,736
883,670
11,734
47,587
-
6,071,334
918,495
_Staff costs_
_2024_
_Depreciation_
_2024_
_£_
_£_
_4,627,398_
_230,273_
_168,838_
_-_
_146,130_
_537,868_
_889,871_
_3,237_
_43,042_
_-_
_5,875,279_
_771,378_|**Other costs**
**2025**
**£**
446,844
463,669
1,065,317
773,367
33,178
2,782,375
_Other costs_
_2024_
_£_
_434,271_
_499,132_
_824,975_
_624,098_
_36,155_
_2,418,631_|**Total**
**2025**
**£**
**5,563,420**
**643,930**
**1,815,318**
**1,668,771**
**80,765**|
|---|---|---|---|
||||**9,772,204**|
||||_Total_
_2024_
_£_
_5,291,942_
_667,970_
_1,508,973_
_1,517,206_
_79,197_|
||||_9,065,288_|
## **9. Net incoming resources**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|These are stated after charging/(crediting):|||
|Auditors’ remuneration|**21,450**|_19,500_|
|Depreciation on tangible fixed assets : owned assets|**918,495**|_771,378_|
|Profit/(Loss) on disposal of tangible fixed assets|**(1,961)**|_235_|
Page 23
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2025**
**£**
**4,800,497**
**547,715**
**723,122**
**6,071,334**|_2024_
_£_
_4,649,122_
_486,967_
_739,190_|
|---|---|---|
||||
|||_5,875,279_|
During the year termination payments totalling £Nil _(2024: £Nil)_ were paid to Nil employees _(2024: Nil)_ .
The average number of persons employed by the company during the year was as follows:
|Teachers and teaching assistants
Support
Welfare
Premises|**2025**
**No.**
**100**
**25**
**8**
**6**
**139**|_2024_
_No._
_101_
_22_
_8_
_6_|
|---|---|---|
||||
|||_137_|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
||**2025**|_2024_|
|---|---|---|
||**No.**|_No._|
|In the band £60,001 - £70,000|**4**|_2_|
|In the band £70,001 - £80,000|**2**|_4_|
|In the band £80,001 - £90,000|**1**|_-_|
|In the band £110,001 - £120,000|**1**|_1_|
|In the band £160,001 - £170,000|**-**|_1_|
|In the band £170,001 - £180,000|||
||**1**|_-_|
Of the employees whose annual remuneration exceeded £60,000, 1 _(2024: 6)_ has retirement benefits accruing under a defined benefit scheme. Total employer contributions in the year to the defined benefit scheme were £17,850 _(2024: £74,563)_ . Of the employees whose annual remuneration exceeded £60,000, 8 _(2024: 6)_ have retirement benefits accruing under a defined contribution scheme. Total employer contributions in the year to the Scheme were £126,321 _(2024: £57,426)_ .
Key management personnel consists of the Headteacher and the Director of Finance and Operations. They received aggregate remuneration (including employer’s national insurance and pension contributions) of £381,388 _(2024: £365,112)._
Page 24
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **11. Governors' remuneration and expenses**
During the year, no Governors received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 August 2025, expenses totalling _£_ 299 were reimbursed or paid directly to a Governor _(2024 - £544 to a Governor)_ in respect of travelling expenses, webinar tickets, training day expenses and subscription expenses.
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 September 2024
Additions
Disposals
Transfers between classes
At 31 August 2025
**Depreciation**
At 1 September 2024
Charge for the year
On disposals
At 31 August 2025
**Net book value**
At 31 August 2025
_At 31 August 2024_|**Freehold**
**land &**
**buildings**
**Motor**
**vehicles**
**£**
**£**
**22,915,130**
**198,254**
**62,208**
**80,078**
**(19,010)**
**-**
**-**
**-**
**22,958,328**
**278,332**
**7,148,747**
**198,103**
**604,736**
**11,734**
**(3,452)**
**-**
**7,750,031**
**209,837**
**15,208,297**
**68,495**
_15,766,383_
_151_|**Fixtures**
**and**
**fittings**
**£**
**1,430,290**
**77,547**
**(45,355)**
**8,894**
**1,471,376**
**835,154**
**120,119**
**(8,728)**
**946,545**
**524,831**
_595,136_|**Computer**
**equipment**
**Assets**
**under the**
**course of**
**construction**
**£**
**£**
**787,193**
**129,063**
**72,596**
**109,300**
**(90,887)**
**-**
**120,168**
**(129,062)**
**889,070**
**109,301**
**530,225**
**-**
**181,906**
**-**
**(87,639)**
**-**
**624,492**
**-**
**264,578**
**109,301**
_256,968_
_129,063_|**Total**
**£**
**25,459,930**
**401,729**
**(155,252)**
**-**
**25,706,407**
**8,712,229**
**918,495**
**(99,819)**
**9,530,905**
**16,175,502**
_16,747,701_|
|---|---|---|---|---|
Page 25
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **13. Debtors**
|**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|**2025**
**£**
**2,213,737**
**15,671**
**344,207**
**2,573,615**|_2024_
_£_
_1,932,665_
_2,685_
_272,733_|
|---|---|---|
||||
|||_2,208,083_|
The Autumn 2025 fees were invoiced prior to the year end.
## **14. Creditors: Amounts falling due within one year**
|Bank loans
Other loans
Trade creditors
Deposits
Other taxation and social security
Other creditors
Autumn fees in advance
Fee prepayment schedule
Accruals and deferred income|**2025**
**£**
**-**
**2,000**
**165,189**
**608,136**
**549,547**
**248,398**
**2,743,298**
**294,533**
**64,305**
**4,675,406**|_2024_
_£_
_110,400_
_24,000_
_257,963_
_639,224_
_102,727_
_181,120_
_3,232,727_
_451,959_
_128,814_|
|---|---|---|
||||
|||_5,128,934_|
Page 26
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **15. Creditors: Amounts falling due after more than one year**
|Bank loans
Other loans
Fee prepayment schedule
Included within the above are amounts falling due as follows:
**Between one and two years**
Bank loans
Other loans
**Between two and five years**
Bank loans
Other loans
**Over five years**
Bank loans
Other loans|**2025**
**£**
**-**
**-**
**337,900**
**337,900**
**2025**
**£**
**-**
**-**
**-**
**-**
**-**
**-**|_2024_
_£_
_876,364_
_120,000_
_451,722_|
|---|---|---|
||||
|||_1,448,086_|
|||_2024_
_£_
_110,400_
_24,000_|
|||_331,200_
_72,000_|
|||_434,764_
_24,000_|
Page 27
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **16. Fee prepayment schedule**
Lump sums may be paid to the Trust as advance payment of future fees. Assuming students will remain in the School, advance fees received will be applied as follows:
|Within 1 year
WIthin 2 - 5 years
The balance represents the accrued liability.
The movements during the year were:
Balance at 1 September 2024
Amounts received
Amounts utilised in the payment of fees
**Balance at 31 August 2025**|**2025**
**£**
**294,533**
**337,900**
**632,433**
**2025**
**£**
**903,681**
**143,930**
**(415,178)**
**632,433**|_2024_
_£_
_451,959_
_451,722_
_903,681_
_2024_
_£_
_216,898_
_1,136,140_
_(449,357)_
_903,681_|
|---|---|---|
Page 28
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **17. Statement of funds**
## **Statement of funds - current year**
|
**Unrestricted funds**
Unrestricted funds
**Restricted funds**
Restricted Funds
**Total of funds**|**Balance at 1**
**September**
**2024**
**£**
**18,006,833**
**84,505**
**18,091,338**|**Income**
**£**
**9,983,258**
**40,023**
**10,023,281**|**Expenditure**
**£**
**(9,799,624)**
**(3,066)**
**(9,802,690)**|**Transfers**
**in/out**
**£**
**65,973**
**(65,973)**
**-**|**Balance at**
**31 August**
**2025**
**£**
**18,256,440**|
|---|---|---|---|---|---|
||||||**55,489**|
||||||**18,311,929**|
Restricted funds relate to donations from the Beacon Parent Society for the purchase of various assets, to donations from leaver parents to provide bursaries, funding of School events and to donations to the Headmaster’s Fund. The transfer to unrestricted funds represents bursaries that were initially funded by unrestricted funds, but were later deemed to be covered by funds donated and restricted for this use.
## **Statement of funds - prior year**
|**Unrestricted funds**
Unrestricted funds
**Restricted funds**
Restricted Funds
**Total of funds**|_Balance at_
_1 September_
_2023_
_£_
_17,080,293_
_135,140_
_17,215,433_|_Income_
_£_
_9,926,792_
_90,525_
_10,017,317_|_Expenditure_
_£_
_(9,087,694)_
_(53,718)_
_(9,141,412)_|_Transfers_
_in/out_
_£_
_87,442_
_(87,442)_
_-_|_Balance at_
_31 August_
_2024_
_£_
_18,006,833_|
|---|---|---|---|---|---|
||||||_84,505_|
||||||_18,091,338_|
Page 29
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **18. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
16,175,502
Current assets
7,081,323
Creditors due within one year
(4,662,485)
Creditors due in more than one year
(337,900)
**Total**
18,256,440|**Restricted**
**funds**
**2025**
**£**
-
55,489
-
-
55,489|**Total**
**funds**
**2025**
**£**
**16,175,502**
**7,136,812**
**(4,662,485)**
**(337,900)**
**18,311,929**|
|---|---|---|
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_16,747,701_
_7,836,152_
_(5,128,934)_
_(1,448,086)_
_18,006,833_|_Restricted_
_funds_
_2024_
_£_
_-_
_84,505_
_-_
_-_
_84,505_|_Total_
_funds_
_2024_
_£_
_16,747,701_
_7,920,657_
_(5,128,934)_
_(1,448,086)_
_18,091,338_|
|---|---|---|---|
Page 30
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **19. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income for the year (as per Statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Interest received
Loss/(profit) on the sale of fixed assets
Decrease in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Interest paid and advance payment discounts
**Net cash provided by operating activities**
**20.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**21.**
**Analysis of changes in net debt**
**At 1**
**September**
**2024**
**£**
Cash at bank and in hand
**5,707,100**
Debt due within 1 year
**(134,400)**
Debt due after 1 year
**(996,364)**
**4,576,336**|**2025**
_2024_
**£**
_£_
**220,591**
_875,905_
**918,495**
_771,378_
**(137,624)**
_(164,257)_
**1,961**
_(235)_
**2,692**
_7,419_
**(352,611)**
_9,284_
**(176,621)**
_193,059_
**30,486**
_76,124_
**507,369**
_1,768,677_
**2025**
_2024_
**£**
_£_
**4,573,336**
_5,707,100_
**4,573,336**
_5,707,100_
**Cash flows**
**At 31**
**August 2025**
**£**
**£**
**(1,133,764)**
**4,573,336**
**132,400**
**(2,000)**
**996,364**
**-**
**(5,000)**
**4,571,336**|
|---|---|
Page 31
## **THE BEACON EDUCATIONAL TRUST LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **22. Capital commitments**
At the year end, the School had contracted capital commitments of £69,019 _(2024: £Nil)._
## **23. Pension commitments**
## **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 £215,015 _(2024: £682,713)_ and at the year-end £23,374 _(2024: £29,643)_ 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 employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.
The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.
## **Other Pensions**
In addition to the above, the Company contributes on a new consolidated defined contribution basis to personal pension plans which was launched in Spring 2021. Contributions totalling £508,107 _(2024: £56,477)_ were payable to these funds for the year.
There were unpaid contributions of £71,810 _(2024: £55,709)_ at the year end.
Page 32
## **THE BEACON EDUCATIONAL TRUST LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **24. Operating lease commitments**
At 31 August 2025 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**2025**
**£**
**12,896**
**17,948**
**30,844**|_2024_
_£_
_19,310_
_3,168_|
|---|---|---|
|||_22,478_|
The following lease payments have been recognised as an expense in the Statement of financial activities:
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Operating lease rentals|**20,659**|_25,936_|
## **25. Operating Leases as Lessor**
At 31 August 2025 the School was due to receive the following amounts under non cancellable operating leases:
|Due in 1 year
Due in 2 - 5 years
Due in more than 5 years|**2025**
**£**
**3,750**
**-**
**-**
**3,750**|_2024_
_£_
_45,000_
_180,000_
_45,000_|
|---|---|---|
|||_270,000_|
## **26. Related party transactions**
The year end balance owed to the Beacon Educational Trust from Beacon Bursary Fund is £14,797 _(2024: £3,449 owed from Beacon Educational Trust to Beacon Bursary Fund)_ .
Page 33