CHARITY NUMBER: 310633 COMPANY NUMBER: 00897432 MALTAqAN'S GREEN SCHOOL TRUST LIMITED (LIMITED 8Y GUARANTEE) TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 MALTMAN'S GREEN SCHOOL TRUST LIMITED (LIMITED B Y GUARANTEE) TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2025 Govemors, Offiws and Advisors Reference and Administrative Informalron Structure, Governance and Management Objects, Aims, 0tr4"e¢tives and Principal Activities Provision of InforffAtion to Auditors Auditors Our Ethos, Strategy and Policies Review ofAchievements and Perlormance for the Year Flnanclal Review and Results for the Year Future Plans Ststemenl of Governors, Responsibilities 10 Independent Auditors, Report 11-14 Stslement of Financial Activities 15 Balance Sheet 16 Cash Flow Statement 17 Notes to the Financial Statements 18-28 MALTMAN'S GREEN SCHOOL TRUST LIMITED GOVERNORS, OFFICERS AND ADVISORS GOVERNORS. OFFICERS AND ADVISORS Governorn Mrs D Honey BA (Hons) IChaim8nl Mr J Austin, Msc Mrs J Bond 8Sc (Hons). MRICS Irasigned 11 July 20251 Mrs J Burton BSC, ACMA, AMCT (appointed 6 March 20241 Mr K Carson BA, AAPhil Icantabl. PGCE Mrs S Chatrath Msc, EYPS {appoinled 27 November 2025- r8signed 8 January 2026) Mr S Easterbrook Bsc (Hons) (appointed 28 November 20241 Mr D Edelman PhD. Bsc IHonsl13ppointed 27 November 2025} Mrs Harftel Fryer PGCE, 8A IHonsl lappoinled 16 March 20261 MrTom Hurst PhD, MA, NPQH. PGCE, BA (Honsl (appointed 26 March 20261 Ms K Paynter BEd (Hons), DipSpLD, MAIEdl (resigned 16 Marth 20261 Miss E Pierre BA IHonsl, PGCE Ire5ign&d 28 November 2024) Mr H Sanghrajka 8S¢ (Honsl. ACA (appointed 25 June 20251 Mr D I Segall Esq, FCCA (resigned 16 March 20261 Mr R G Simmons Esq, BA (Honsl, PGCE- Hiskny, Med (resigned 14 July 20251 Mr N Singla K.C., BA (Honsl (Oxonl, BCL lappointed 28 November 2024) The Sthool Govemors are also the Charity Twstè8s and the Company Directors. They have all s8Ned In ¢)ffice throughout the year except where indicated. Koy fflanagwh•nt per50nno1 Headmlstross m￿ J Walker Bsc (Hons). MA Ed, PGCE Bursar Mts Jackie Stevens Bsc (Honsl lftom 7 April 20251 Mrs K O'shea BA IHons1, FCA luntil 30 April 20251 Company Se¢r¢tsry Mrs S8rah O'Leary Iformerly Beckwithl Reglstsr•d Offlce Maltman's Green School Maltmans Lanè Gerrards Cross BuGkinghamshire SL9 8RR Auditor5 Crow8 U.K. LLP R+ Building 2 Blagrave Streel Reading Berkshire RG1 1A2 Bankers Barclays Bank PIC 16 High Street Hlgh Wycombe BuGkinghamshire HP11 2BG Soll¢ltors Veale Wasborough Vlzards LLP Narrow Quay House Narrow Quay Bristol BS14QA Page 1 MALTMAN'S GREEN SCHOOL TRUST LIMITED TRUSTEES. REPORT (INCLUDING STRATEGIC REPORT) The Governors. who are also charity trustees for the purpose5 of the Charities Acl 2011. present thelr annual report in compliance with both that Act and the Companies Acl 2006, together wth the financial statements prepared under the latter Act, for the ye4r endiro 31 August 2025. The format 2nd content of the report and financial statements Comply with the Companies Act 2006, the Charrties Act 20118nd the Slalement of Recommended Practiee= 'Accounting and Reporting by Charities. SORP IFRS 102). REFERENCE AND ADMINISTRATIVE INFORMATION Mallman's Green School Trust Limited {tho Schooll operates within the Memorandum and Articles of Associab"on, which was incorporated on 3rd February 1967 under Company number 897432 and Charlty registration number 310633. Und8r the constitutlon of the School. the guaran189 of each member Is limited to£1. STRUCTURE. QOVERNANCE AND MANAGEMENT Gov8rnlng Document The School is govemed by the provisions of the Memorandum and Articles of Association, whlch were last amended in 2013. Charfty Govornanc• Code The Board fully adopts the princi￿e$ of the Charity Governance Code. The Object5, Aims. Qbjectives and Prinapal Activities of the School are sel out below, and these are made clear to Governors at induction and throughout Ihgir tenure. The Board has an 8ffective leadership $1ructure which regularly provides strategic diroetlDn via Board meetings and sub-committees. The Board 15 wholly dedlcated to the SGhool and acts in its interest accordingly. The stsndards expected from a Board member are set out at Induction and prior to appointment Govemors slgn an annually remewed Code of Conduct which has Ihe S8ven Principles of Public Life at its cor8. Decision-m8king, risk and control are entirely functional and the Board strtkes an excellent balance between ensuring it 15 aware of operational matters with￿1 constraining tho Headmistress 8nd Bursar from the ability to make dynamic. day-to4ay decisions. Levels of dèlegation in finan¢ial matters are clear to), the SchcK)I's tendering policy ensuring that higlFvalue financial commitrnents ar8 not entered into wthoul lull Governor oversight and approval. Govemors also Tegularty review the School's risk register and are fvlly aware of the need lo manage 811 risk in as balanced a fashion as possible to ensure future viability of Ihe School in delivering its Gharilablg purposes. The Board poss8ss8s an excellent b318n¢e of skills and experience, and a￿dayS s88ks to continue this through strong succession planning. Governors have backgrounds in corporale governance, buslness, finance. law. consultancy, property development, marketlng. IT and of course education. Govem(xs commit tremendous amounts of time to the School and aslde, from formal meeting requiwments. they regularly attend e3senfjal meetings on safeguarding and health and safety, as well as SUPPDrting other School events such as the Christmas FayTe and MaltFost celebrations. They also carry out regular vnanawm¥nl ¢hecks on supplier payments, payroll and policy documénts. The Board comrnunicates well with stakeholders. for example, staff via attendance at INSET days and pupils through involvèmgnt in regular learning walks. Gov•mlng Body Govèmors ar8 èlected at a meeling of the Board of Govemors on the basis of nominations received to the Board's specifications regarding eligibility. person81 competen￿. specialist skllls and lo¢al availability. The Governors also consider recomwnendations from the Headmi5tre55 and other sources on the same b8SIS. The Governors have no personal or financial interests in the School, nor do they receivè any fees or other remuner8b.on for their semces. Page 2 MALTMAN'S GREEN SCHOOL TRUST LIMITED TRUSTEES. REPORT (CONTINUED) Govemors serve for a minimum of three years and a maximum of nine years. At the Annual General Meeting, held on 28 November 2025, Mr David Segall having seNed for more than nine years, did retire but did offer himself for re*leGlion and was duty reelected as Finance Su&Committee Chaimian on an annual rotation. Mrs Diana Honey and Mr Kevin Car50n did offer themselves for re-election and were duly rtre￿¢ted as Chair of Governors and CUrr￿uluM Sub-committee Chairman by annual rotation. Trustee Tralnlng Governors attend local govemor groups. schoollcharity conferences and goveman¢e Iraining sessions, as appropriate to their individual needs. Oryanlsatlonal Management The Governors meet at least three times a year to delemiine the general policy of the School and review its overall management and control, for which they a￿ legally responsible. The work of implements'ng most of the School's policies is carried out by the FInan￿ and Property Development Sub-committee vthich meets termly before each meeting of the Full Governors. Board. The Publi¢ Benefit and 8ursanes Sub-committee m8els termly to consider the areas of public benefit offered by the School and to ￿VIeW requests for bursaries. lo consider applications for support and financial assistance for existing and future pupils and to make recommendations lo the Full Governors, Board. The Curriculum Su Committee also meets termly lo discuss the Gurri¢ulum and educatKsnal developments across the School, to ensure that the School meets its purpo$e of provyjing a high quality of education for all of its pupils. The markets.ng SutKommittee meets once a tem to conduct a comprehensive anatysis of the School's marketing strategies. The committee lake5 a Mult￿year perspective on the markeb'ng plan, ¢ontinuoLtsly monitoring the trajectory of pupil numbers. The day-tcpday running of the School is delegated to the Headmistress and the Bursar, supported by other teaching members of the Senior Leadership Team. Governors attend the Eco Council, and Health and Safety committee meetings, which meel termty or as required, with the latter reviewing the adherence of the School lo relevant polic* and considering any incidènts arising. Governor5 are also Involved in regular learning walks and assist in the appointment of Senior staff. The remuneration of key management personnel is set by the Board, with the policy objectNe of providing appropriate incentives to encourage enhan¢ed performance and of rewarding them fairly and responsibly for their individual contributions to the School's success. Organisational Structure and R•lationships The Headmi5tre$s is an ath've member of the IAPS for the promotion and maintenan¢8 of preparat school Standards generalty and also lakes part in peer group studies al national, regional and local level for the evaluation of quality and performance improvement metho¢Js. The School aims to foster link$ with the wider community. within planning constraints, through the sharing of its facilities and expertise. The School pool and sports f￿1[ItieS for exarnple a￿ used by many local ¢lubs. OBJECTS, AIMS, OBJECTIVES AND PRINCIPAL ACTivmES The objects of the School. in accordance with the Memorandum and Articles of Association, are to acquire, ¢arry on and develop Maltman's Green School and the curtilage, within which rt is situated. and to acquire and carry on in the Unrted Kingdom any school for the education of ¢hildren. In setting thè oblectives and planning activities the S)vemor$ hav8 given careful consideration to the Charity Commission's general guidan￿ on public benefit and in part￿ular to its supplementary publ benefit guidance on advancing educab'on and on fe*charging. Page 3 MALTMAN'S GREEN SCHOOL TRUST LIMITED TRUSTEES, REPORT (CONTINUED) Straleglc Alm and Intended Effect The School's strateglc aim Is to tenefft the public by the provision and advancement of preparatory edu¢ation for girls independent of the Stale system. The School aims for high standards academtcally, culturally and in sport. Excellence Is encouraged and celebrated. High standards are exFeCted In the behaviour of pupils and promoted Sn Iheir relalionshlps with each other, with staff, and with the wider ¢)ntinualty nN)nitor the financial viability ofthe School againstthe overall economic dimate to identify any future polential financial iisks. Both income and costs a￿ closety analysed lo ensure fvture performan¢e is tracked according lo plan and any changes implemented quickty and efficiently. The School's approach to Safeguarding is another key area for Govwnors lo monitor. The Govèming body appointed Ms Katie Paynler a5 rts Safeguarding Governor. Th& Safeguarding Govemor attends School re9ularty to dis¢uss safeguarding matters with the Deputy Head and Designated Safeguarding Lead, Mrs Rachel Gaynor and will attend INSET. She is also kept sighted on the rare occasion Ihal Safeguarding issues arise and is also fully invofved in the appropriate Safeguarding training. The Safeguarding Govermr undertakes an annual audit of safeguarding policy and practice across the School, wlth findlngs fed back to the Head and Board of Governor$ Health and Safety is an area that requires close attention. Such risks range from firè to infrastructure and School events. ￿ole school management, for 8xample, the maintenance of policies and procedures. is regularty reviewed. Included is the regular risk assessment of activilies and facilits'es including an annual review process. The Governing Body is satisfied that for all major risks identifth. appropriate controls have been pul in place and maintained to mrtigate those risks adequately. It 15 recognised that systems can provide only reasonable, and not absolute, assvranee that all major risks have been managed. This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Governing Body of the Maltman's Green School Trust on 16 March 2026, including in their capacity as company Directors approving the Strategic Report contained therein, and is signed as authorised on its behalf by.. D Honey Chalrnian of Govemo Page 9 MALTMAN'S GREEN SCHOOL TRUST LIMITED STATEMENT OF GOVERNORS, RESPONSIBILITIES STATEMENT OF GOVERNORS, RESPONSIBILITIES The Govemors (who are also d1￿ClOr$ of Maltman's Green School Trust Llmited for the purposes of Company lawl are resp)nsible for preparing the Governors, Annual Report and the financkgl slalements in accordan￿ with applicable law and United Kingdom Generally Accepled AKounting Practice (United Kingdom Accounting Standards). Comparry law requires the Trustees to prepare financial statements foreach financial year. Under company law the Trustees must not approve the financial slalements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incOm￿g resources and applicab'on of ￿SourCes, including the income and expendrture, of the charitable company for that period. In preparing these firkgnclal slatements, the Trustees are requlred lo.. select suitable accounting policies and then 8pply them consistentty: observe the methods and principles in the Chariiies SORP., make jLKlgments and eslimales that are rea$(￿able and prudent., state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going ¢on¢ém basis Unle￿ it is inappropriats to presumé that the charitable company will continue in business. Thè Tru$te8s are responsible for keeping adequate accounb.rhg records that are Suff￿lent to show and èxplain thè ¢harrtablé company'$ tran$a¢tions, dis¢b$e 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 Companies Act 20C￿ and the provisions of the ¢harty's consb"tution. They are also responsible for safeguarding the assets of the charty and hence lor taking reasonable steps for Ihe prevenb'on and detection of fraud and other irregularities. Page 10 Crowe CvovR U.K. LLP CharteredAccount&nts Yember of Crowe Global R+ Buihjing 2 Blagrave Str881 Readin9 eert5hire RG1 IAZ, UK Tel +44101118 959 7222 Fax +44101118 958 4640 ww.tAowe.co.uk INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MALTMAN'S GREEN SCHOOL TRUST LIMITED Oplnlon We have audit￿ Ihe financial statements of Mallman's Green School Trust Limited for the year ended 31 August 2025 which comprise statement of financial activilies, the balance sheet and notes to the financial statements, including significant ac¢ounbro policies. The fi'nancial reporting fomework that has been applied in their preparation is appli¢able law and United Kingdom Accounting Stsndards, including Finarbcial ReFlOrting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ir8land (Unrted Kingdom Generalty A¢cepled A¢￿UntIng Practicel. In our opinion the finan¢ial ststements.. 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 Klngdom Generally Accepted AccountiThJ Practice. and have been prepared in a¢¢ordarKe with the requlrements of the Companies Act 2006. Ba$ls for opinion We ¢onducted our audit in accordance wilh Intemational Standards on Auditing {UKI {ISAs {UK}} and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilitie5 for the audit of the financial statements section of our reporL We are independent of the charitable company in accordance with the ethical requ￿ernents that are relevant to our audrt of the financial statements in the UK, including the FRC'S Ethical Standard. and we havè fulfilled our other ethical responsibilitte5 in a¢cordance with these requirements. We believe that tho audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concem In audlting the financial stat¢menls, we have ¢on¢lLtded that the trustees, use of the going concern basis of a¢counting in the preparation of the financial statements is approwiate. Based on the workwe have perfomied, we have not identified any material uncertainlie5 relating to events or conditions that. individually or collectively, may cast significant doubt on the charitable wmpany's ability to continue as a going concem for a period of at least ￿e1ve months from when the financrdl statsmenls ar8 authorised for issue. Our responsibilities and the re$wnsibiliti8s ol the Irustees with respect to going concem are described in the ￿levant sections oflhis ￿Port. Page 11 Crowe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MALTMAN'S GREEN SCHOOL TRUST LIMITED (CONTINUED) Othor Infonnatlon Th& tru$tses are responsible for the other infcmiation contained within the annual report. The other information comprises the infomialion included in the annual report. other than the financial statements and our auditor's report thereon. Our opinion on the financial stslemenls 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 responsibil￿1 is to ￿ad the other information and, in doing so, o)nsider whether the other infomiation is materially inconslstent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify su¢h material inconsistencies or apparent material misstatements, we a￿ required to detemine 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 infomaty'on, we are required to report that Pdct INe have nothin9 to reF4)rt in this regard. Oplnlon on oth•r matter prescrlb•d by the Companies Act 2006 In our oplnion based on the vnrk undertaken in the course of our audit the information given in the Trustees, Annual Report for the financial year for which thè finan¢ial Statements are prepared is consistent with the financial $tat•ment$,' and The Trustee's Annual Report have been prepared in accordance with applicable legal requirements. Matters on which w• ar• roquirod lo Mport by oxcoptlon In light ofthe knowledge and understanding of the charrtable company and its environment obtsined in the course of the audit we have not identified material misststements in the tru$tees' annual report. We have nothing to report in respect ot the following matters in Telati)n to which th& Companies Act 2006 requires us lo report to you if. in our opinion= adequate accounting records have not been kepl.. or the financial statements are not in agreement ￿th the accounts'ng records and retum5,' or certain disclosur85 of trustees, remuneration $pe¢ifi*d by law are not made. or we have not received all the infomiation and explanations we require for our audit. Page 12 A Crowe INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MALTMAN'S GREEN SCHOOL TRUST LIMITED ICONTINUED) Responslbllitl•s of Trustee8 As explained more fulty in the trustees, responsibilities statement Set out on page 10, the trustees (who are also the directors of the charilable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inlemal control a$ the trustees determine is necessary lo enable the preparation of financBI statements that are fre& from material misstatement, whether due to fraud or error. In preparing the financial statement$, the trustees are responsible for assessing the charitable company's ability lo continue as a going con¢ern, disclosing, as applicable, matters related to going concem and using the going Concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have T￿ ￿aliStiC alteTnatNe but to do so. AuditoVs rgsponslbllllles for the audft of the flnancial 8tatement8 Our objectives are to obtain reasonable assurance alxjut vthether the fmancial statements as a whole are free from material misstatement, whether due to fraud orerror, and to issue an audrtorfs reportthal includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thal an audit ccnducted in accordance with ISAS IUKI will a￿y8 delect a material rnisststement when rt exSsts. Misslalements ¢an arise from fraud or emr and are considered material rf, individually or in the aggregate, tlw could reasonably be expe¢ted to influence ts econom￿ decisions of users taken on the basis of these financial slalements. Irregularities, including fraud, are instances of non-compllance with laws and regulations. We design procedures In line with our responsibilities, oullined'above, to detect material misstaternenls in respect of irregularities, including fraud. The extent to which our pr￿edUreS are capable of dete¢ting irregularities, including fraud is detailed below.. Extent to which the audlt was consldernd capable of dotgcting irrggularftlos. includlng fraud Irregularilies, including fraud, ale instances of nofvcompliance with laws and regulations. We identified and assessed the risks of malerial misstatement of the financial statements from irregularrties, whether due lo fraud or efTor, and discussed these betsveen our audit team rrtmbers. We then designed 2nd perfomied audit procedures responsive lo those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within whi¢h 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 $talements. The laws and regulations we considered in this context were the Companies Act 2006 Charities Act 2011. together with the Charib"8s SORP IFRS 1021. We assessed the required compliance with these laws and Trgulations 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 ststements but compliance with which mighl be fundamental to the charitable company's ability to operate or to avoid a materrdl penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. Auditing stsndards limit the required audrt procedures to identify non-compliance with these laws and regulations to enquiry of the Governors and other management and inspeGtion of regulalory andlggal correspondence, if any. Page 13 ## **Crowe** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAL TMAN'S GREEN SCHOOL TRUST LIMITED (CONTINUED)** **We identified the greatest risk of material impact on the financial statements 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, sample testing on nursery income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, and reading minutes of meetings of those charged with governance.** **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 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.** **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.orq.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, and to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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.** ## **Alastair Lyon** **Senior Statutory Auditor** **For and on behalf of** ## **Crowe U.K. LLP** ## **Statutory Auditor** ## **R+ Building** ## **2 Blagrave Street** ## **Reading** **RG11AZ** ## **30 April 2026** **Page 14** MALTMAN'S GREEN SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORA TING AN INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDED 31 AUGUST 2025 Notos Unrostrl¢ted Funds 2025 Roslrl¢tod Funds 2025 Total 2025 Total 2024 Income from: Voluntary income Donation$ 1,328 7,963 7.446 Charltsble activities School fees receivable othèr ancillary income Incom• from generated Funds Hire of facilities income Investments S.305,382 30S,679 5,305.382 305.679 5,264.665 304,411 105,432 162 180 105.432 162 180 101,617 156 824 Total Income 5 880 001 5 834 963 Expendlture on: Charltable activltles School operating costs Ralslng funds Finance ¢osts 6.839,987 6.635 5.846,622 5,986,540 Total expendlture 5 849 938 56 6 635 ￿￿73 ￿2￿￿510 Net Incomellexpenditure) 30,D63 30,063 (153,547) Funds broughl fornard at I September 2024 Fund$ ¢arrl•d fonvard at 31 August 2025 The notss on pages 18 to 28 form part of these finan¢i81 statements P￿e 15 MALTMAN'S GREEN SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET 31 AUGUST 2025 COMPANY REGISTRATION NUMBER: 00897432 2025 2024 Notss FIXED ASSErs Tangible assets 10 3A82,859 3,514,578 CURRENT ASSETS stocks Debtors Cash at bank and in hand 6.042 1.640.634 3 538 055 9.140 1,334,195 4 14T990 5.184,731 5,491.325 CREDITORS: amounts falling due within one year 12 2 593 790 2 639 605 NEf CURRENT ASSErs 2 $90 941 2 851720 TOTAL ASSETS LESS CURRENT LIABILITIES 6 073 800 6 366 298 CREDITORS: amounts due aft8r more than one year 13 218 880 NEf ASSETS 24 FUNDS Unrnstrlctéd funds General funds Designated funds Restrl¢ted funds 17 17 18 5.224.694 630.226 5.061.690 763, 167 TOTAL FUNDS 16 These finan¢ial $latements we approved and authorised for issue by the Board of Governors and were signed on its behaw on 16 March 2026. D Honey Chalrnian of Govemo The notes on pages 18 to 28 form part of these financial ststements Page 16 MALThIAN'S GREEN SCHOOL TRUST LIMITED (UMITED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Cuh Ilows from oporatlng actlvltl•s: Net incomellexpenditurel Interest receivable Interest payable Depreciation of tangiblè assets IlncreaselllDecrease in stocks IlncreasellDecrease in debtors Increase in creditors Pn)fit on dispc*a of fixed assets 30,063 (162.180) (153.547) (156.824) 298.309 3.098 1306A39 197.342 268.077 (4,420) 173,033 110, 735 N•t Cash prOvkI￿ by operatlng a¢llvltl•• C••h flovrt fmm Inv•$tlng activities: Inte￿$t receNed Payn*nts to acquire langltAe fixed assets Receipts from sale of fued assets 162,180 1266,590) 156,824 (151,657) N•t ¢48h (used In) In¥￿11￿9 athlll•8 Cash flows from flnanclng actlvftle8: Fees in aa%fance scheme- new contracts Fees in advance scheme- amounts utilisedlrepaid 1, 176,362 5717 Nel cash lus•d In) financlng act￿111•8 Change in Cash and cash equivalents in the reporting period 609.9361 1.212.866 Cash and cash equivaknts at 1 September 2024 Cash and cash •qufv•l•nts •t 31 Augu•t 2025 The rntes on pages 18 to 28 fomi part of these fir￿n¢La1 statements P*Je 17 MALTMAN'S GREEN SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 CHARITY INFORMATION Maltman's Green School Trust Limited's principal activity continues to be the provision of a day school for 2 - 11-year-old girls. The incorporated charity (charity number 310633, company number 00897432}. is domiciled in the UK. The address ofthe registered office is Maltman's Green School. Maltmans Lane, Gerrards Cross, B￿c￿nghamShire, SL9 8RR. STATEMENT OF ACCOUNTING POLICIES The following accountiry policies have been used consistently in dealing with items which are considered material in relation to the charitable company. Accountlng conventk The financial statements have been prepared in accordance with 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 20191 Charrties SORP IFRS 102}, the Financial Reporling Standard appl'cable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Maltman's Green School Trust Limited meets the definilion of a public benefit entlty under FRS 102. Assets and liabilitles are inrtlally recognised at historical cost or transaction value unless Othe￿Ise Ststed In Ihe relevant accounting policy note{s}. Management have produced financlal models showlng luture budgets, whSch have subsequent been reviewed by the Board of Governors. As part of their nom)al risk management prttess, the Govemors have examined the major risks lo Ihe School and Ihe mitigating actions both tsken and available to be tsken. The Govemors consider there are no malerial uncertainties ￿lating to going ooncern and that the School has adequate resources to continue ts ?ctivilie5 forat leasl the twelve months to 31 August 2027. A¢¢ordingly, they ￿ntinUe to oper* the going GonGern basis in preparing the financial statements. b) Income All incoming resources are included in the Statement of Financial Activities when the charitatAe company is legally entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy. Grants are accounted for under the performance model as pennitted by the Charity SORP. School f•oS School fee$ represent amounts receivable, less any discounts grven, fortuition and eXtr*￿rr￿￿1ar activities, less any bursary awards and financial support given, for the year ended 31 Augu$L Fees paid in &Jvan¢e of future edu¢atr'on are carried foNard a$ deferred income. Page 18 MALTMAN'S GREEN SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 d) R•8our¢e8 expended Re$our¢es expended are accounted for on an accruals basis as soon as a liability is considered probable, dlscounted to present value for longerlerm liabilities. Certain expenditure is apportioned to cost categories based on the estimated amount attributsble to that activity in the year. Gov8rnance support costs include an apportionment of the salaries of the Head and 8urw to refiect the titre inwrred on ststutory 9￿￿mance i6sues. Tanglble fixed assots and d•prncl•tlon Tangible fixed assets other than freehold land are stated al cost less depreciation. Depreciation Is provided 8t rates calculated lo write off the ¢ost less estimated resKlual value of each asset OV8r Its expected useful life, as follows'.- Freehold land School buikjings & swimming pool JUn￿r gymnasium and parents. car park outbU￿dings, garages & fire alar￿ Swimming p)ol hall fittings & rcof Computer eqUipr￿￿t Fvrniture, tools and equFment Motor vehides Swinvning plant & equI￿ent 2% and S% straight line 10% straight line 20% straight line 4% straight line 33.3% straight line 20% straight line 25% straight line 5% stralght line The Governors are salisfied that the market value of the fixed assets is Sn excess of thelr book value. Tangible fixed assets are capitalised when the ¢o$l of each individual item ex¢eeds £1.000 and the asset will have a life of more than ￿e1ve months. Ilems ¢osting £1,000 OT less are charged as expenditure in the ye8r of acquisition. A full year's depreciation Is charged in the year of purchase. P•nslon8 The Sthool contritArte8 lo a defined contribution penslon $cheff￿ on behalf of the t&Khers. with empknyer contributions dependent on the contribution made by teachers. The School also contributes to a group personal pensK)n scheme for ￿rfrteaching staff, and these contributions are accrued accordingty. Unrn$trlct•d g•n•ral funds These are funds whlch can te used in accordance with the charitable objects at the di$cr•tlon of Ihe d1￿CtOrs. Restrlcted fund• in restn'¢ied funds conyrT5es donati￿5 received for the Burw Fund whith 1$ used to supporL on a means tested basis. pupils that would not otherwise be able to attend the School. Page 19 MALTMAN'S GREEN SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 D•signatod funds Tho Governors make transfers to a designated fvnd that will be used to fund bursary award$ in future years. The Govemors ￿VIeW Claims for bursaries in respect of pupils who would not othemise be able to attend the School, funding Ihe fees from the relevant designated fund and the cost of extrarycurri¢ular a¢tivities, residential trips and other extras from the restricted fund. Fin*n¢ial instruments Basic financial instrLtments include debtors and creditors. Debtors and creditors are initially recognised at transaclion value and subsequently measured at amortised cost k) Cash and cash equfvalenl8 C8sh is represented by cash in hand and deposits with financial inststulions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readity convertible to known amounts of cash with insignthcant risk of change in value. Doposlts 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 al least 12 Months after the balance sheet date and, in line with the requirements in FRS 102, the balance of the deposits have been included within Current liabilities. JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEI SOURCES OF ESTIMATION UNCERTAINTY In the application of the charty's a¢xounting policies. which are described in note 2 trustees are required to make judgements. estimates and assumptions about the carrying values and the remaining useful lrfe of assets and liabilities that are not readily apparent from other sources. The estimates and undet1ying assumptions are based on historical exper1er￿e and other factors that are considered to be relevant. Actual results may differ from these estimates. The Govemors consider that there are no material judgements in applying accounting policies on key sources of estimation uncertainty. SCHOOL FEES 2025 2024 The School fee income comprises.. Gr055 fees Le$s.' Total bursaries and allowances 5,429,297 5.393.692 75 4298,747 5.257.817 Add back: Bursaries paid for by restricted funds P4e 20 MALTMAN'S GREEN SCHOOL TRUST LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 OTHER ANCILLARY INCOME 2025 2024 Exam fees Registration feesl fee$ in lieu of notlcel fee schemes Clubsl extra