Charity regigtr•tion nwiber 310634 (England and Wales)
Company Yeglstr4tlon number 389663
ST MARY'S SCHOOL. GERRARDS CROSS, LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
'AF31GYL5"
2810512026
C4>AP￿lEs HOUSÉ
A18

ST MARY'S SCHOOL, GERRARDS CROSS. LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Headteaeh
Patriria Adams ki4lOxwl
Lars Fox
(Re$￿￿e0 31 August 202SI
(Appointed 31 Augusl 20251
Goveffnors
Dwek Wt50n (Chaif of Governors)
Chris Bayliss (Educatron Leat1 Go¥ernorl
Dawd Campkn'n IFinance Lead Go¥emor)
Nick Moss
Nith Hallthurth
Marina Hall
Rory Fisher
Skan Salek
Jean Ross
Julie Hurst
Phhl Lwhn
(Appointed 14 odober 20251
(Appoinled 14 October 20251
(Appointed 14 October 202SI
Secretary
MKha¢l Bod(ly
NKky Phipps
(Resigned 31 August 20251
Ihppoinled 31 August 20251
Charity number
310634
Compary number
38￿3
Regk*t•red offi¢e
SI IAarfs Stho
Gerrards Cross
SL98JQ
Auditor
GrawkAudtt Oxfcmd LLP
First Fknoi, Park Central
41>41 Pa￿ End Street
Oxfoid
OX1 1JD
Bankèrs
The Royal Bank of s￿lIand
4042 High Street
Maidenhead
Berks
SL61QE
Sollcltorn
Veale ￿5b)rough Voards, LLP
24 King Wlliarn Street
London
EC4R 9AT

ST MARYS SCHOOL, GERRARDS CROSS. LIMITED
CONTENTS
Page
Go¥emors' re￿rt
Ststement tsf Govemtys. re$pon$ily"lili¢s
Independent auditofs report
Stateffent of financial acbwties
10
Balan¢e sheet
state￿￿nI of rash fl¢Ms
12
Notes to the financial slalemenls
13-28

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
The Govemors present Iheir annual ￿pOrt and financol statements ts the 13 month p￿70d ènded 31 ALryu$I
2025.
The financial yearond has been changed ttris year to 31* August from 317t Juty. resuming tn an aLUVWtting period
of 13 months. The year-end ha5 been changed to coinode wilh the School's business year and to conlorm
the yeai-end of most schools. Income in tK)th the current and (r)r￿arath¥e periods relates lo one academic year
onty.
The finan(>al statements have been prèpared ￿ aCry>rd8n￿ with the accounts.ng policie5 set out in rhote 1 10 the
financial statements and compty wth Ihe Charity's Memorandum and Arbdes of A5sooation, the Companies Act
2006 and "Atcounting and Reporring ty Chall￿$." State￿￿nI of Rec¥)m￿n￿e(l Pradice appluble to chanties
Pfeparing their accounts in aC￿rdanCe the Finanaal Repryting Standard appl￿ble in the UK and Republic
of Ireland IFRS 1021 (effective 1 January 20191-.
Objectlves and actl¥ltles
The objective5 of the Chaiity are set wl in ihe MeTh￿randuM of AssoLiatson. They may lie summarised as the
carying on of a School for girts where the students mty obtain an education of the highest order. the holding of
reltgious services and delivering religious inslwction in accordance the dc¢thne and prinriples of the Church
of England and the undertakn.ng of actiwi*s to a¢J¥ance the cause of education.
The Chaity has the general rnisgon of providing w excel￿nt edUCa￿n in a cwing. happy environment, where
each girf dgvelops seN•conffidence and achiffts htr ful pot•nb"al.
When con5K1enng the strategies employed to achieve Ihe objectNes, the Govemors have given carefvl
consideration its the Charty Commi55ion's general guhlance on wblic benefit and in Part￿Ular to its
SUFplementary public guKlance on advancing educab.on and on fee tharging.
The strategies emWoyed to athie¥e the Chanty's obiedNes are:
To continualty M￿rtOr the quality of teathing, Ihrough target setting. in$et tr•ning, obseThatyon. sharing and
di5CU5sion of good practice. as well as updatirvJ resources and adding currluJ￿.
To offer equal opportunities to all girts.. to ensure all indNMJual needs are addressed. that all opportunrties a
accessible to everyone. woviding Ilexible strearning and rotab'on of Staff.
To provide moral antj syritual guidance and svpport, fosteriny Sell￿n￿dence. sewosteem, and Wel￿￿e1n9, as
weu as aiding leaming.
To promote an active partne¥ship the ￿ Co￿￿n￿nNY and parenls thwh regular forrnal and infonnal
rneetings, as well as communication Ihrough emal ParentM*l.
To ensure high levels of pastoral rare, by budding 51rong wF*kstaff relationships as well as bein9 able to offer the
5UPPOrt of a quali￿￿ school counse40r.
To regularfy assess ￿a(lership and management. tfwough professi￿al independent review and fee¢Jback
from departments, puyls and parents.
To provide contwiving support of our pupils already in rectipt of butsaries.
To maintain the provision of mean54ested bursary places.
To conts'nue to develop links with bjcal stsle schools.
The primary activty ol the Charty is tts educate girls from the ages of 3 tti 18 within a Christian framework. In
additson to the wide range of academic svbjects offwed and laught. the School is able to enhance the
eduutional experience through the many dubs and extraoJtyitsJlai actiwth.es offered. Christsan values are
incorporated through assemblw and in everyday schod lrfe.
The Governors have paid due re9ard lo guidance issued by the Charity Collwniss￿n in deridin9 whai activities
the Charity should undertake.

ST MARYS SCHOOL. GERRARDS CROSS. LIMITED
GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
Achie¥ements and perforniance
The A-Level resulls a¢h￿Ve￿ in 2025 We￿ 20% A"/A, 63A'18 and 88% A"/C. These ￿SuIts Compa￿ with results
2024 which We￿ 26% A'/A, &1% A'/B and 79% A'L.
The results ach￿e￿ at GCSE by Year 11 grts matthed the high exp￿13￿"0￿5 placed vpon th8rn. Of the grade5
achieved, 49% were Level ￿7. 68% Level 96 and 97% Le¥el 94- very similar to those achieved in 2024.
St Mary'5 offefs a ￿de range of subjects at GSCE and A-Le¥el. mduding EPQ. aThJ has an established
enrichment programme.
The Sthoof conlinues to recruit high qUa￿ty teaching staff which. alongside investh*nt in facililies, offers an
èxcellent en￿ron￿ent to all 51uden15. It 15 Ihi5 emiironment Ihat allow5 our sludenls to delNer such credFtable
examinalw resurts.
Pupil numbets throughout the year exceedet1 430. The imp05iti.on of VAT on School fee5 with effect from 1st
January 2025 did not inNJact pupil number5 untd the new 25126 academic year. The pupil roll in September 2025
drnppp.d t() 193, alrrNJs1 pntirAly rtIlA IA 2[￿ lay xtirtprt to paren15' hii
The School promotes a th￿e*fo￿lI enty Year 7, for *thich teaching Staff and teaching assistants are
emF4oyed to maintsin the Sthool's ethos, ensuring Ihat time is invested into each girl to alow everyone to ￿ath
their full polential. Importance is st￿1 pla￿d on extr3rAJrricular actiwb"es. With girfs invdved in sport. drama. music.
deb•lOng and ￿￿ts￿lIng in lh¢ Duke of Edinburgh award stheme.
Flnancoal wevlew
The thange of yeor4nd to 31 August had a signif￿an1 Irryia(a on Ihe repryled re5ulls for 13 mc￿th$ •$ lollows..
Ye*rto
Year to
PAonth of 13 months to
31.07.2024 31.07.2025 Aug￿$1 2025
31.08.25
In¢orne
Expenditure
Net incomelldef*ii
7.645,413 7,920,091
7.543.494 8,072,764
101.919 1152.6ni
22,598
652.547
{629.949)
7,942.689
8.72S.311
1782,622)
The defiut in August was maiwty salaries and ovelhead costs for the Ir￿nth. Sthool fee5 ts onty ￿e acadefflic
year have been induded in eath year.
As a result of •)trc*Juction of VAT from 111 January 2025 fee rates were re￿￿e￿I ty 5% for Ihe Lent and Trinity
terms resulted in a loss of income of approximatety £350.0￿.
The School continued lo reflect ts tharitable ￿mmitMentS through the distribubon of bursaries. scholarships and
discounts worth a total of £830,01712024." £836,491). being 9.8% of grtsss fee income.
The funds of the Charity are Wrt￿1￿ invested in Sthool propety and oiher fixed assets. Schocl fees receivable,
less any discounts given, covef the w$t of pro￿ding tuition and other wnning costs of Ihe School. The fee$ are
set at a level Ihat will prowde suffia.ent funds to cover the cost of fegular maintenance and modemisation of
existing facilits.es and for funding new buildings in Ihe fviure.

"u¢*1￿￿a￿a￿l￿1 aAQWa ajnsua w S¥W ¥EwmsAs 6ui¥EU?pun S￿￿JaA0& wv Joiua8
'sèpkn awpdn pue MW4aJ kniiod Jo awweJ6oJd pan￿r￿￿ e 46n0J￿ pèyoddns si ￿￿ElId￿0) ts)ieinOa
'iuawaAoJdwi $r￿nU1)L￿ ajnsua pue s•JnpaJoJd Mafftaj oi &auiinoJ i•aw swpai Ala￿5 puE y)l¥a4
pue 6uipJpnWes 'a)IPEJd p swepueis u6iu vi￿vieW pue SSèU•JEMe èiowoA 016uiuie4 Jein6aJ aAla?aJ IlE)S IIV
.•￿E11d￿0) kn0Ull￿S PUE isaq fjuurBu?'wOw•AQ ieuots$?JoJd sapMoJd
iUEunsuo? I8IES PUE Lnieau paivJip•p v "suonpjado ssoJ)e fysnoJo6u paiuawqdwi aje y)Iw 'sai)Ipd
aiES pue yueay pue 'iuawy.ntsèJ JèJÈs 'uty)aioJd WILP '6uipJEnSa￿S ah￿￿è4aJdWo) siiieiLIIEUI lOOiPS ayl
UUFHJQ ¥51¥
'sassoi ieijueuji asiwiuiuj
a)wd w aj¢ sjoiqap w luau￿bE￿￿￿ PUE awowi aai Jo Awii Joi sa$saJoJd isnqo
'IOOLF)S aui w seaje liv ssoJJe gJaWO4 ia6pnq 6uwoAUI ¥CWAaWe4 Surya6p￿ paUl￿15$1p e yonojui pa6puew
aje asa4L 'AiidwoJd payllua￿. SaJnSs￿d IPLuaya 6ui6JaLua 'A￿A￿l JEin6aJ oi palqns ajp SIS￿ IEuoiiEJado
'•qap peq ui èseanui ue pue sjaqwnu Iidnd ui uO￿npaj e ui Mn$aJ Aew 4su asayi "Awoud lEJiu￿ e
fjuiuipwaj A¥.i!qepJoue èèl w 'passassp @snonuouoj aJE 4soJ iuawAqdwa 5u15u puE 'iaiiaJ saipj ssauisnq Jo
SSOI a4) 'aJniipuadxa uo IVAJO knarto)•J 'saèJ oi IVA io ￿)0￿lidde èui paieijosse s¥su iei)ugui4
"swopnui Awws Jo ppdwi PUE poouiiaxii aui UiDq aJnpaJ oi
SiSIIEnads li Ivwèya YWA UOlleA)qwic%) 6uiuieJiue)s jlwwè￿￿S 46noJw paiebw.w s! yeue-jaqh io ¥su a41
'6u!Iiapow prJueuy pue $aS$a￿d 6uiuas-ia6pnq pOpp￿wa •JF
SUOIIEJaPlSUO) •saiii 'sJaqwnu pdnd ui SU￿leu￿A ￿qUal0d PUE 'sW￿8￿C￿ èiEJ isajaiui 's•Jns$aJd ￿e￿o￿e￿Ul
6uissa$sE 'adp)SPLtEI ￿lI1￿u0￿ J•PL41 a41 J4Jwn6aJ WEai di4$Jappai Joiuas aLll PUV SJgWaAO
iuauwahog Jnoqei aLN Aq paiuèwèpjw! saSup
xei oi fjuipuod$ai ui sJipo4 a￿4￿Ua$ajd•j Ja￿0 pup 'lv8sII uooppo$sy SJEsJng .sioo4?s iu?puadJpui •
'lasil IrJuno) spows iuapuadopui aln pè6e6ua fy#A￿e suleW￿ Iry)yJs a41 "sèssè)oJd 6u!uueid Ipnupuy
puE Ji6èitJJS Owl PalEJodJoJu! aje sJaMEW asa4L 'swJauaq aNEWE4) io IpAowaJ i￿￿310d gLU PUE saaj
loo￿S uo IVA Jo uoipnpo4uI wojj 6uisLJE as0￿ AyEin)iyed 's￿U leu)a￿a JOilUOLU oi Sanuliu￿ ioou)s aui
SJOPg4 1gIU•IX3
'saigwip IwJqiod pue 4Wq ￿ SUWB iuaJaJ apnpui ￿ paiEpdn puv Jai$i6a
¥Slkl S.1004JS ay) PIIE JEaA ayi 6uunp papnpuw sem s¥su as0￿ w Mathaj Iiru v .￿u￿11￿￿o? PUP IEwaw3
'IEiJueui J 'leU￿leJad0 'a)uewaAog- sèuo6aie) 6uwpi Oiul IIEI s¥siiI "¥Je￿ Ul 5PJEn6aJES aienbèpe aje
ajaui ip41 ajnsua oi JEin6aJ oi pafqns aje asayi pue 's¥su paAl•))￿ ?ieOiyw oi paidopE ajv saJnp￿OJd
'IOOIPS a41 uo peduji ue èAeu Aew s¥su puooejath) ierJueuy ie Aytin6aJ 5JOLU•hO9 è41
$¥$i¥
'SPJEhWO iU9i0Z WO4 S•Ma5aJ aè4 6uipi!nqaJ
ui6aq oi puE a2uEIEq IIU E 01 saoJa5aJ alll oi papuaiui aje $uorpe •saui "saiiuoud 4woJS ?16aiE4S
uo srw e pup Ay.Ary)p 6uiiaweuJ paia&Jy 'iuèwa6evew p6pnq pau•￿6Uafjs y6noJ41 uoiw.sod SI￿ ssajppe
oi suwd paiuawaidLUI aAEy saaisn4 ayi "JEaA 6uiwo)yyoJ a41 Joi iuawuojthua 6u4eJado 6ui6ualie￿ e SalEaJ
'$uoiiipuwJ Jiwou0￿ iuaJJnJ aw PaU￿LU￿ 'Sa￿•Saj aajj Jo aJuasqe ie41 asiu60)aJ saaisnji
'Sa+uasaJ aaJJ ou ajam aJa41'pouad aw Jo puè ay) Iv'saiiiiiqE4
6uipuE151no AUE 01 4$￿ iUaPWS SPW PO4JS IEW wnsu? oi waisAs iuawa6EUEW AIOU 4$v) N611
io uoiiwado ?ui aJ!nb?J sAwe SJOUMAO9 alll 'llEJaAO 'l0Ou￿ io a)ueu•uiew aw Joipue sJ!EdaJ iua6Jn
01 UOIIElaJ ui fyè¥ii ￿0￿ 'sèJniipu?d¥a pauueidun iaaw oi alqE aq 01 Japjo u! SO￿￿0j aaji ui ooo'OOS'k3 PUE
OOO'OOS3 uaawaq pio4 Oi WIE ￿n04S poips alll IEUI paaJ6e aAeu SJOWèAOg è4L .pauiwW￿ aswa￿0
Jo sasodjnd Jjnads JOJ pèipu6tsap 'Sl•SSE paxy 4qi6uei ui pèisèAui IOU aJE PUE $asodJnd IEJaua6 Joj aiqeiieAe
aajj aJE SPLtry a￿￿ul asow "a"1 '$￿jasJj aa4 ￿ wawajinbaj PaUlLU8Xa sey ApoE 6uiwaAog a41
sioz isngnv ic 03aN3 a01¥3d HINOW £13HI ¥021
(a3nNIINO)I IIèJod3¥ .SIIOI?3¥1a 9Niani?Nl) I¥Od3¥ .SèJON113AOO
a311VllI'ssoèJ? sa¥v¥¥39'100H?S S,A¥VW IS

ST MARYS SCHOOL. GERRARDS CROSS. LIMITED
GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
Public Benerrt ObNgation
The School's ptsblic benefit obli9ation remains in the Govemots. thinkn"ng. As an etjucational tharity. the SchDoI'$
educational activrties have in the past benefftetl directy from tay and VAT exempl statu5 and it5 bursary and
accessibility poliues have beneffted indireclty from that exemplion.
Howew, from January 2025, VAT becarne (knryeable on independent fee$ at Ih¢ $twdara rtte of20 %
and fromApril 2025 the enlillement of e4￿￿119n tharitie5 to discounts on Business Rates ceased to be availabl¢.
The long-term impact of the addition of VAT to fee invoices and the exlent to whKh rt makes a private edvcation
less affordable lo some parents is impossible to forer2St and quanlfy ￿th any at￿raCy. The School's prAicvés
regarding Iwrsaries and aGGessibility are under rewew as loss of tax4xempt status bites.
Despile the loss of its tax-exempt status the tharity continues to have some public benefit obhgatson. Th¢ Sthool
will continue to grant fee reductsons c¢)mmensurate wth its finanaal sibjation, in¥ofve itself in ￿Mmunity affairs
appropriately and offer ts fac4rties to loral wrterests for the greater good.
Structur•, go¥emance and managemenl
St Mary's School. Gerrards Cross. Limrted is a crynpany limited by gu￿nIte govemed by rts PAemor8ndum and
ticles of Association daie¢J 6 Sepiember 1944 and amende(I to allow for current governance arrangements on
9 February 1955. 3 Juty 1955, 10 May 2012 and 6 May 2016. 11 is registered a$ a Charrty the Charity
Commission. The liabilths oflhe membets a￿ limrted to £1.
The Govemws of the Charitable Company Ithe Chantyi are rts Twstees for the purpose ofcharity law and
Directors for the purposes ol company law but by ujstom anLI prathce throughout Ihe Sthool they are a￿y$
relerretl to as Govemors. The Board of G0￿mOr5 is cornprised of membew5 a broad range ol expertise.
There are Governors wrth backgrounds in law. accountancy. e(lucab"on, bJsThss mwagemenl. medityne arvj
real estate. Throughout the year the Govem¢xs have been..
Derek Wlson (Chair of Govemors)
Chns Bayliss (Education Lead Go¥emor)
Oavid Gampkin IFinance Lead Go¥emw)
Nick Moss
Nick Hallchurth
Marina Hal
Strphanie Clifford
Anne Freeman
Devinder Bansi
Rory Fisher
Sian Salek
Jean Ross
Julte Hurst
ph￿ Lunn
{Resryned 9 Juty 2025}
{Resignet1 12 February 20251
{Resigned 9 July 20251
{Appowrted 14 Othr 20251
(Appointed 14 Odober 202SI
(Awointed 14 October 2025)

ST MARYS SCHOOL. GERRARDS CROSS. LIMITED
GOVERNORS, REPORT IINCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
As sel oul in th8Artides ofA5sociation Ihe Ch•"rman Dfth8 Board of COVerr￿ ts by the mombers ol
Ihe aoard at an trdinary goneral meetir4J. Th¢ GO¥ety￿ may also apwnt a new Govemot subject w ratificat
at the next ordinary 99￿ra1 mt8b"ng.
SenlorAppolntments
The School's Headteacher. Patric4aAda￿￿ r?￿re￿ after seveTr yoaTr valued ser¥￿8 at Ihe eTrJ ofthe school
year. 31stAugust 2025. Shg has bBen gJc£*8d8d by Mr Lws Fox. the fomw Headtèather at Burgess H41 Girfs
School.
The Sthool Bursar and ¢th￿panY Sècrntsry Mr ￿l¢ha￿l Brxldy ￿￿vert 31stAugv5t 2025. lo be 51KC8gdgd by
Mr5 Nlcky Phipps.
Organls•tlon
The Board of Govemots detemiines the 9eneral policy ofthe S￿￿. The d￿lY manapntnt ofthe Sthool Is
detegated to the Headmi$tre5s and Ihe gursar. The Board meets each tem. There are no forrnal sub-
ccfflmrttees Ihcwgh Iherg ar8 L8ad Gov8rrwx5 lor Educal*)n, Finance & G8n8ral PLryWS. H•ath & Sef8ty.
Safeguarding and Mental Hoatth, SEN and PSHCEE and Earty CareerTeachers.
Governor Induction and Trninlng
All n•w members are issu¢d ¥￿th the Gwdthes GO¥em￿S. •rKowagtd to 8iiend approprtate
•xl¢mal trainiNJ ev•nts. All Gover1￿￿ p31ticipate in SafegtsorfAng If8￿Ing.
credltor Poll¢y
The companls rjmnt corKeming the payment oftr*Je uethtors is ts fo*yH the CBfs Prornpl Payer5
The cornpanls current poly ¢rxxeming Ihp payrrwlt oftr* ue¢itor5 15 to".
• settle the terms Ofpay￿nt vthh Suppl￿r$ when agreein9 the tern￿ ofeach trarsacfTh',
* ensure that sUp￿•erS are made avrdre of Ihe ol payTh*nl ty w￿uS￿)n of Ihe relevant terms In
and
. pay in a¢¢?)rdan￿ Yiiith fv ¢unpan￿8 aTr1 other W (*19all￿$.
Th¢ Gov8mor5' report was apwoved by the Boanj ofG0vwr￿￿.
Der*k Wlls•n (Chalr of Govomors)
Govemor
Daled..

ST MARYS SCHOOL. GERRARDS CROSS, LIMITED
STATEMENT OF GOVERNORS, RESPONSIBILITIES
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
The Governors. who are 8150 the directors of St Marfs Sthool. Gerrards Cr05$. Lirnited lor the puypose of company
law. are responsible for pfeparing the G¢)vemots' Report and Ihe finanaal ststements in accordance wth applicable
law and United ￿'ngdoMAcC0Unknng Stsnilards (Unrted Generalty Accepted Accounting Practice).
Company law requires Ihe Go¥emors to Prepa￿ ffinanual statements each finanoal 13 month perir*J whith 9i¥e
a tTue and fair View of the state of affairs of the Charity and of the in¢Nning resources and appliGation of resourc85,
including the wicome and txpendtiurè, of the chantable company for that 13 month period.
In preparing Ihese finantsal statements, the Go¥emors a￿ required to".
- select suitable accountsng and then apFty them consistenty.
- obsèNe the methods 8nd prifia￿eS in the Charities SORP..
make judgements and estimates that are reasonable and prudenL
state vthether applicable UK Accounbng Slandards have been fon(￿d. subject to any matwial deparlures
th"sdose¢J and explained in the financial statements", and
- prepare the finanaal slatements on Ihe going concem bags unless it is inappropriate to presume th81 th¢ Chaiity
will Gontinue in operation.
The Governws are re$wnwWe for keeping ad¢quat¢ accounling recwds that disdose *Trth reasonable accuracy at
any time the financial position of the Charity and enable them to ensure that the financial slalements compty wilh
the Companies Act 2006. They are also reSpon￿ble for safe9uardin9 the assets ofthe Charity and hence lor taking
reasonable steps for the p￿ventsOn and detecti￿ offraud and other irregUla￿"e$.

ST MARYS SCHOOL, GERRARDS CROSS, LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE GOVERNORS OF ST MARYS SCHOOL. GERRARDS CROSS. LIMITED
Opinion
We have audited the financial staten*nts of St klarfs Sthool. Getyards Cross. ￿Mited (the 'Charity'l for the 13
month period ended 31 August 2025 which comprise the staternent of finanrjal activit*s. the balance sheet. the
stalemenl of cash flow5 and notes to Ihe ffinancial statements. indudirbg sKJnthnt accounting poliaes. The ffinancial
reporting framework that has been applied in their preparation 1$ applicable law and United Kingdom Accounting
Standards. including Finanaal Reportbn9 Slandard 102 The Finanoal Reportin9 Slandard applicable in thg UK and
Republic oflreland (United lQngdom GeneraltyAccepted AC￿unts"ng PradKe).
In our opinic￿. the financi￿ ststements:
give a Irue and fair ￿eW of the slate of the tharilable companls affairs as at 31 August 2025 and of its
incorning resources and a0icakn.on of resources, for Ihe 13 month period then ended,"
have been prope￿ prepared in accordance wlh Unrted KM)gdom Generally Accepted Accounting Practice..
and
have been prepared in ac£ordance with the requrements of the Companie5Ad 20C6.
Basis"for opinlon
We conducied our audit in acccwdance vhth Internat￿al Standards on Auditi"ng {UK) IISAS (UK>I and applicable
law. Our responsibilities under those slandards are fvrther desuibed in the Auditorfs responsibilities lor the èuthl or
the financial statements section of our report. ￿ a￿ indepen¢Jent of the Chanty in accordance the ethical
r¢quiremenls that are relevanl to our audit ol the financial Statements in the UK, induding the FRC'S Elhic•l
Standard, and we have fulfilled our olhw eihical resw)sibilit*s in accorfwce *Mth these requIren￿ntS. We believe
Ihat the audii ewdence we hav¢ obtained is $ufficient and appropriate to provide a basis for our opinion.
Conelussons relatlng to golng eoncern
In auditing the finan0￿ statements, we have tonduded that the Govemots. use of the going concern basis ol
accounting in ihe pfeparabon of the finanual statements is appropiiate.
Based on the wc** we have perfomied, we have not identsfied any matewial uncertaintie5 rebating to tsvents or
condrtions that. indimdually or collecti¥ety. may cast signthcant doubt on the Charivs abilty to continue as a goirvJ
concem lor a period of at least twelve rnonths from when the finanual staiements are authorised for issue.
Our responsibilities ant1 the responsibihtres ol the Govern￿$ tmlh ￿sPeCt to going contem describe¢J in the
relevant sections of this report.
Olher InforniatS0
The other information ¢ornprise$ the information induded in th¢ annual ￿pOrt other than the financial 5tat¢ment5
and our auditorfs report Ihereon. The Govemors a￿ responsible for the other infomation contaTned wthin the
annual report. Our opinion on the ffinanoal stalerTwts does not cover the olher infwmabon and we do not express
any form ol assurance Condusion lherer￿. Our respon9bility is to read the other infomiation and. in doing 50.
onsider whether the olher inlornab'on is rnaterial￿ inry>nststenl 7•nth the financial stat¢ments or our knowledge
obtained in the course of the audrt. or othemse appears lo be matelially misslated. If we idenlify such material
incon5iStenues or apparent material missiaiements, we are required Io tletemine whether th15 gives rise to a
material misstatelnent in Ihe finanaal statemenfs thernselve5. 11. based on the work we have pertormed, we
condude that there is a material misstatement of this other inforniatson, we are ￿qUI￿￿ to report that fact.
We have nolhing to repvt in this reg¥d.
Matterg on whi¢h requlred to report by exceptlon
We have nothing to report in respect of the folw.ng matter5 in relalion to the Charities (Accounts and
Reports) Regulalions 2008 requires u5 to feport to you rf. in our opinion".
the infom)ab"en given in th8 finan￿￿ statements is th)conwstent in any material respect with the Govemors,
port,. or
suffioent accounting records have not been kept.. or
the finanual statements a￿ not in agreement wth the 4￿n￿n9 records.. or
we have not receNed all Ihe Inf¢Ymaty￿ and explanalions we requiwr for our audit.

ST MARY'S SCHOOL. GERRARDS CROSS. LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE GOVERNORS OF ST MARYS SCHOOL. GERRARDS CROSS. LIMITED
Rtsponsibililies of Governors
As explained rnore fulty in the slatement of Go¥emors' responsi￿.1￿$, the Governors. ¥tho a￿ also the d1￿CtOrS of
the Charity for the purpose of o?mpany law, are responsitAe for the preparalion of the finanrial statements and for
being satisfied that they give a true and fair view, and fDr svch intemal control as the Govemors determine is
necessary lo enable the p￿paratiOn of financial statements that are from malerial misstaternent, whether due
to fraud or eTrt)r. In preparing the finanryal statements, the Governors are re5PDll5ible for assessing the Charity's
ability to conts'nue as a going concem. disdosing. as applicable. mallers related to going concem and usin9 the
going conrEm basis of accounling unless the Govemors eiiher intend to liquKlate the tharitabk wmpany or lo
r2ase operats"on5, or have no realislic altematNe but to do so.
Audltof* rèsponsibilities forthè *udlt of th• flnaneoal statements
We have been appointed a$ auditor under se￿On 144 of Ihe Charilies Act 2011 and report in actordancL with th•
Act and relevant regulatr.ons made or having effect the￿ulmIer.
Our objectives are to obtain reasonable assurance abwt whether the finanual statements as a whole are free from
material misstatement. ¥thether due to fraud or error. and lo issue an audilorfs report that indudes our opinion.
Reasonable assurance is a high level of assurance but is nol a guarantee that an audit conducted in accordance
wlh ISAS IVKI wll a￿VayS detect a Material rni55laternent when it exists. Misstaternents can arise from fraud or
error and are considered material if, indi￿dUal￿ or in the aggregate. they could rea50nabty be expected to influence
the economic decisions ol users taken on the basis of these ffinancial ststements.
IFTegularities, induding fraud. are instances of non-compliance with laws and regulations. We design procedures in
line wth our responsibilitie5. ouuined above. to detecl material misslalernents in respect of iTfegulaiitses, includin9
fraud. The ￿ent to our procedL¥es are capable of deteth.ng irregula￿.eS, Ind￿Jing fraud is detailed below..
Our approach to identfying and assessing the risks of matsrial fThSStatement in respect of irwulanties. including
fraud and non-compliance with laws and regulations. was as Wlows.
the engagement partner ensured thal the engagement team cc4lecthvety had the appropriate ts)mpeience.
capabilrties and skills to Hlenttfy or recognise non-cornpliarKe with appl￿ble Laws and regulab"ons',
we Klentified Ihe laws and regulations applicable lo the ¢h¥wity throu￿1 discussions wrth governors, and
from our knovAedge and experience of the (*ent's sedor.
we focused on speafic kws and ￿gulationS which we consKlered may have a direct material effecl on the
financial statemenls or the ¢iper8ti(hrys of Ihe d￿rIty. including Charities Ad 2011. dats protection. anti-
bribw. employrrnnt. en¥r¢>nmental and heath and 5alety ￿￿$1￿"0n.
we assessed the extent of compliance wth the laws and regulalion5 idenlrf*d above through making
enquiries of management." an
Kjentified k4ws and regulalths We￿ comrwrucated wlhMI the audrt team wulaty and the team remained
lert to instances of non-COry)lIaF￿ throu9hout the audit.
We assessed the suscepts"bilty of the charivs firwcial slatements to malerial misstatement. induding ciltain￿g an
understsndin9 of how fraud might occur, by..
making enquiries of management as lo where they considered the￿ was 5usceptibilty lo fraud, their
krthiledge of actu￿. suspeded and *leged traud;
¢on$ideMg the internal Contrds in plKe lo mrtigale ri¥ks of fraud arhj non-corylianrx wrfh law5 and
regulations. and
To address th• risk offr¥ud through management b¥as and override ofcontrols, we..
. performeil ana￿￿1 wocedures lo identify any uwsual or unexpecled reL2lionship$',
lested jovmal entrres to idenbfy unv5ual Iransaclions."

ST MARY'S SCHOOL. GERRARDS CROSS, LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE GOVERNORS OF ST MARYS SCHOOL. GERRARDS CROSS, LIMITED
• 8$sessed whether judgements and assumM￿S made in detewrrniing the accounting ¢sts"mates {set out in
Note 11 were indicative ol potentK41 bias..
* investigated the rationale behind 99r￿[￿an1 or ￿￿sUal I￿Sa(￿n5.. and
In response to the risk of fftgulanlies and bws and reguPdtKJns, we designed procedures
vthich induded, but were nol lifflrted to..
agre*ng financial staternent di5¢JOsu￿s to und￿￿"n9 supporling dlhwmentation."
reading Ihe rrinutes ol meetings tsfthose chArged govemance"
enquiring of management as to actual and potenb.al kngation daims,"
There are inherent limitaD'on$ in our audit proCedU￿S de5uibed above. The more ￿MoVed that laws and
regulations a￿ from frnan)al tran5aLlions, Ihe les5 like￿ it is that we would become aware of noT7-compliance.
Auditing 5tandard$ also limit Ihe audit procedures reqUI￿d to Klentfy non-￿Mpli8nce wlh laws and regulations to
enquiry of the go¥emors and other management and the inspecb.on of wulatory and legal correspondence, if any.
Malerial misStatement5 that arise due lo fraud can be harder to dete(X than those that arise frc*n error as they may
nV￿ve ddiberate concealment or collusion.
A fijrther de5cripts.on of our responsibdities is avad&Jle on the Financial Repoityng Council's website at..
.ukJauditorsies
This Oescrybon fomis part of our audrtoYs reptht.
U•• ol our report
This ￿port is made solety to the charitys twstees. as a body. in accordance Part 4 of the Charities IAccounts
and Reports) Regulations 2CK18. Our audit wcrfk has been undertaken so that we might state to the chaiity'5 twstees
Ihose matters we are required to state to them in an audrtor's report and for no other purpose. To the fvllest extent
pprmitted by law. we do not accept or assume rÈsponsitx"lity to anyone other than the charty ant1 the charty's
trustees as a bjdy. for our audit wcrfk. for this reporL or for Ihe cynions we have fomied.
Katherlne Wllkes Bsc FCA (Senior Slztulory Audlt(w)
For and on behalf of Gra7tha Audrt OxlLYd LLP. Slatul(￿vAyditof
ChArtered Accountants
F¥5t Floor. Park Central
4041 Park End Street
Oxford
OX1 1JD
Date..

ST MARY'S SCHOOL, GERRARDS CROSS. LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
UnTrstsicted R•strlct•d
Totsl Unr•strlcted R￿trIcted
Total
funds
lund¥ 13 month5
funds
fund¥ 12 months
to August
lo July
2025
2024
202S
2025
2024
2024
Ineom• from:
Charitable activrt
Investments
7,863.988
78.701
7,863.988
78.701
7,569,533
70.880
5,000 7.574,S33
70.880
T¢)l•l Income
7.942.689
7.942.689
7.640.413
s.cth 7,645,413
Expenditure on:
Charitable activrt*s
Other expenditure
8.720,B
3.856
565 8.721.455
3.856
7,533.208
5.775
4.511
7.537.719
5.775
10
Total expendlture
,724.746
8.725.311
7.538,983
4,511
7,$43,494
incomellexpendltur*l
1782,057)
15651 (782,6221
101.430
489
101,919
other recognistrd
g•lns and losses-
Actuanal gainslllossesl
on defined benefit
pension schemes
1249)
1249)
2,734
2.734
Net movem•nt in
funds
1782,31XI
(￿) (782.8711
104.164
489
104.653
Reeonelloatlon of lund$:
Fund balanees at 1 August
2024
8.936.263
3.319 8.939.582
8,832,099
2.830 8,834,929
Fund balanees at 31 August
2025
8.153.957
2.754
8,156.711
8.936.263
3.319 B.939,582
The stale1r￿ of financial actmtses inchjdes all gains and losses recognised in the 13 fflonth period. Al InCcffi￿ aDd
expendIbj￿ derive from ¢￿tinUing ai*?ribe5.
The statement ol finanryal actNiti"es also COM￿￿e$ ￿lIh the requiremenls for an incoff* and expendi(ure account
under the Companie5 Act 2006.
10-

ST MARY'S SCHOOL. GERRARDS CROSS, LIMITED
BALANCE SHEET
AS AT31 AUGUST 2025
2025
2024
Flxed as$*ts
Tangble assets
12
9.305.750
9,221249
Currgnt as5•ts
Deblors
Investmen1$
Cash at bank and in haThJ
14
150.531
750.C
664.697
219.786
1.050,C*X)
791,871
1.￿.r28
2.C61.657
Credltors.. amounts lallong due wlthln
gne year
16
11.853.714)
11.347,3181
Net ¢urrnnt Ili•bilitt•sVassets
1288.4861
714.339
Totsl ￿$èts l•s$ ¢uff•nt liabililles
9.017.264
9.935,588
Creditots". amounts fvlling due after
rnore than one year
17
(808.2581
1911.7781
Defined benefil persic￿ liability
152,2951
184.2281
Met assets
8.156.711
8,939.582
The funds ofth• Charity
Restricted Income lunds
un￿sIr￿e￿ funds
Unreslr￿ted funds- revak￿l￿)Tr
Pension reserve
2.754
5.rfjo.570
2.545.882
152.2951
3.319
6.439.fj80
2.580,811
184.2281
8,156.711
8,939.582
The directors ackno*led9e their re5ponsitslitie5 for COM￿y•￿ wth the requiren*rts of the Compani¥s Ad 2f#)6
with respect to aLwunting records and the weparalKsn of financial **ements.
These finanrial statements have been prepwed in acccvdance the provisions appl￿ble 10 comwies subject
Io sfflall companies regime.
The financial 5taternenls wete apwo¥Ed by Ihe on .........................
Derek W150n Ichaif of Govenw)r$l
Go¥ernor
Cempany registraiin number 389663 IEn¥aTh1 aThJ Waks)

ST MARYS SCHOOL. GERRARDS CROSS. LIMITED
STATEMENT OF CASH FLOWS
FOR THE 13 MONfH PERIOD ENDED 31 AUGUST 2025
2025
Cash Il¢)ws from opèrnling •ctivilies
Cash generated from operations
59.343
339.310
Invesling 4¢livities
Purchase of tangible fixed assets
Movement in treasury ￿SelveS hebj
Investment income received
1461.6981
1571.6351
I350,￿0)
70,880
78,701
Net cash us•d in inv•sting a¢livits¢
182.9971
(850,7551
Financlng actlvltles
Repayment ol bank loans
(103,5201
{289.7381
14et cash uwl in financing Kti¥il•es
{103,5201
1289,7381
14et decrease in cash and cash equivalents
(127.1741
{801,1831
Cash and cash equN8lents at beginning of 13 month
period
791.871
1.S93,054
Cash and ¢ash #quivalents at end of 13 month
period
664.697
791.871
12-

ST MARYS SCHOOL. GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
Aceountlng poli¢t•s
Charity inlomiatio
St Mary's School, Gerrards Cross, Limited ts a private compary lifflited by guwantee ￿¢¢rpOrated in England
and Wales. The registered Offi￿ is St. Maty5 School. Gerrards C￿>$$, Bucks, SL9 8JQ.
1.1 Reportlng pertod
The school has exten¢Jed its accountin9 period to Ihe 13 n￿nIb period ending 31sl Augusl 2025. This was
done to align the accounts.ng penod %bryth the school year. As ￿Ch. the prior year ffigures in Ihe accounts are
not directty comparable to this periods figures.
1.2 Accounting convention
The finanu3151atement5 have been prepared in arthrdance the Charity's Memorandum of Associab"on,
the Cornpanies Act 20]6 and -Accovnting and Reportin9 by Chanb"es'. Ststement of Recommended Practice
applicable to charities preparing Iheir accounts in accort1ance the Finanual Reporting Standard
applicable in the UK and Republjc of Ireland IFRS 1021 {effeclNe l January 20191" The Charity 15 8 Public
Benefft Entity as defined by FRS 102.
The StateM￿ts are prtpar¢d in sterfing, whtth is the funciimal currency of the Charty. Monetary
amoun15 ￿ these finwcial stateTh*nts are rounded to the nearest £.
The finanrial stslements have been prepared U[￿eT the histowical c051 conventh?n, modified lo include the
valuation ol freehi)Id wuperts.es and to Tndude investment properfies and certain finwcial instnjments at fair
value. The pnncipal accounty'ng policies adopted are Set out be￿￿.
1.3 Going concgrn
Al the tirn¢ of approving the financial statements, the Govemors have a reasonatle expeaation that the
Chanty has adequale resources lo contsnue in operational e￿$tenCe Ihe foreseeable ftjture. Thus Ihe
Govemors continue to adopl the 90ing concern basi5 of accounting in p￿p¥￿9 the financial stalements.
Managernenl ha5 prepared foTh¥ard-looking financial mod* and budgets. vthich have been reviewed by the
Board of Govemors. As part of the Sth¢)ofs established risk managernent frarnework, the Govemors have
assessed the princ4pa risks lacwry the S￿￿1 and consKlere(I bolh the acb"on$ already laken anLI those
availatye to mitl9ate these risks_
Based on this review, the Govemots are satisffied that no material uncertainties exist ihat would casl
signific2nt doubt on the Schcxjl's ability to conbnue as a goin9 concem. They are confident that the School has
suffioent resources to conlinue eyerating for a period of al ka5t b¥elve months from the dale of approval of
these finanaal ststements.
Accordingty. the G0vem0￿ conts.nue to adopt Ihe goiThJ concern basis ol a(X0￿ting in preparing the financial
statements.
1.4 CharltablÈ funds
￿n￿sIn¢te￿ funds a￿ available for use at the discretion of the Govemor5 in fvrtherance of their tharitable
bjectwe5.
Restricted ftjnds are subject to specific condibons by donots or grantor5 as lo they may be used. The
purposes and uses ol Ihe restricied lunds are S￿ out in the notes to the finanual slalements.
13.

'ST MARYS SCHOOL, GERRARDS CROSS. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
Accountlng pDllcle•
Icontlnuedl
1.5 Inc4)m•
All incoming resowces are induded in the Stalement of Financial AdNth"es ISOFAI ¥A￿n the charity is legalty
entiued to the income. after any performance condr(ions have been met. The amounl can te measured
reliabty and it is probabk thal the income wll be r￿1ved.
Fee$ receivable. less any discounts given. for ￿rtIOn anLI eXtraCurri￿1Iar actNibes are recognised an(J
accounted for in the period in which the Serv￿ is pwded. Fees pakl in advanr* are treated as deferred
Hicome and induded in other credrtois.
. Fof donations to be recognised the chanty will have been nobfied of the amounts and the settlement dale in
Wri￿.ng. If there are condiliMs altathed to the donatKtn which requires a level of ￿rforManCe before
enlitlernenl rAn be obtained then income is defe￿d unb"I those condilws a￿ fvly met or the fulfilment ol
those condit*)ns is wrfhin the conlrol of the thority and Fi 15 probab￿ Ihal they be lulfilled.
Investment ￿coMe is earned thrwgh hokling assets for investment purpose5 and is indvded when the
amount can be measured rdiably. Interest Incon￿ is iecognised usin9 the effectNe Inte￿$t melhod.
1.6 expenditure
All expenditure is acC￿￿￿ted for on an accwals basis and has been dassified under headings thal ag9￿gate
all costs related to the category. Expendr(ure is recognised where there is a legal or construcbve obligation to
make payments to third parties, rt is probable Ihat the setuement will be required and the amounl ol the
obligation ran be measured relatrAy. It 1$ calegwwd underlhe follNI"rwJ headin95".
Expenditure on eharitable activities
These are costs inajrred on Ihe charilabk activths, inthding support costs and cost5 relating to the
governan￿ ofthe charty apporb.oned lo charilatAe acti￿$.
Irrecoverable VAT is tharged as an e¥pense against the acti¥ty for expenditure arose.
Support costs •ll0￿110Th
Support costs are those that assist Ihe ￿￿rk of Ihe charty bul do not directy repTesent tharitable activibe5
and include off￿e costs. governan￿ costs, adrnini$trdlNe payTdl costs. They are illcurred directly in sUPPOrt
of expendittjre on the obj.ects of the charity amd inclvde prc4ecl rnanagerrent out at the school.
1.7 Tangible fixed amets
Assels a￿ caprtalised as langitle fixed assets using a th￿shOld of£1.{Y￿ and jud9emenL They are carried al
cost or valuation. net of depre¢iabon and any prO￿510n for irnpairrnent. Cost indudes costs dire¢1ty attributable
tt> making Ihe asset capable of opefab.ng as intended.
Depreuation is recognised so as to wrrte off Ihe cost or of assets less their re$Klual values over their
Useful Iwes on the following base5'.
Land and buildin95
Plant and equipment
Fixlures and fittings
Website
2% per annum
5% pèr annum
15% per annum
20% per annum
The gain or loss arising on Ihe"disposal of an asset is determined as the drfference belween the sale proceeds
and the ¢arry￿9 value of the assel, 8n¢l 1$ recognised in the $tstrmeni offmancial aCtr￿tIes.
14-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
Accounting pollcies
Icontlnuedl
Assets in the course of con5lTudion are included at w$t. Depreciab"on on these a$sels 15 not tharged until
Ihey are brought inio use and reclassrfied to freehLld or ￿8$ehold land and buildings.
A ￿VIeW for impai￿ent of a ffixed asset is carried out if events or changes in orcumstances ind4cate Ihat the
Carrying value ol any fixed asset may not be recoverable. Shortfalls be￿een the carrying value ol fixed asset5
nd their recoverable amounts are reo)Jnise(l as inyinrents. Impwmient losses are recowised in the
Statement of Finanaal AclNrfies.
1.8 Cash and e85h equlvalents
Cash and cash equivalents indude cash in hand, dep05ts hekl at call *ryth banks, olher 5hort-term liquid
investments vthh original maturi￿e5 of three rn￿th$ or less, aThJ bank overdrafts. Bank overdrafts are shovm
wlhin borrowngs in tsJrTent Ikqbilrt*s.
1.9 Financial In$trwnents
Debtors and creditors with no stated interest rate and re￿1¥a￿le or payable wrthin one year are recorded at
transaction price. Any losses arising from I￿palm￿nI a￿ recognised in expendrture.
Loans and borrwngs are initiaty recognised at the transaction price induding transaction costs.
Subsequenty, they are measured at amor1￿￿ cost using the effeclrve interest rate method, les5 impairment
If an arr8rwJement conslitutes a finance transact￿ it is rneasu￿d at p￿sent Value.
tmpainnent
Assets not measure(l at fair value are ￿￿ewet1 for ary inth"catIc￿ that the asset may be impaired at each
balante sheet date. If such Indication exists. the recoverat4e amount of the asset. or ihe asset's cash
generating unit. Is estsmated and ccthpared to the canwng amount. the carrying amount exceeds its
coverable amount, an impaimient loss is recognisetl in profit or loss unless the asset Is carried at a revalued
#mount ¥h*re the irryJaim*ni loss is a revaluation deuease.
Basic financialassets
Current assei investments are shofl tem hKJhty liquid investments and are held at fair value. These Include
cash on depogt and cash equivalents a matunty of less than one year
1.10 Taxatlon
The charity is an exempt charrty V￿1n the meaning of Schedule 3 of the Charities Act 2011 and is Considered
to pass the tests set out in Paragraph I Sthedule 6 Finance Act 2010 and the￿fore rt meels the definilion of a
charitable cornpany for UK torporats.on tsx pu￿05e5. No charge to Co￿Oration tax ari5e5 the results for
this or the pwous finanaal year as al wuirne arise$ from non-Irath'ThJ aclivibes and ￿ applied lo the
tharitable purp05e5 of the School.
1.11 FletSremeftt beneffts
The pension costs charged in the finanoal statements ￿present the contributtons payable by the charity
during the 13 month period in accordanee 7Aryth FRS 102.
The School pa￿"CIpate$ in a MU￿eMploYer pension scheme. The Governments, Teachers Pension Defined
Benefrts Scherne, for ils teaching Staff. A5 a resutt it is not pjssibje to identfy the assets and liabilities of the
scheme that are attribUla￿e to the school. The pens￿￿ liatslity is the responsibilty of the teachers, pension
scheme. Accordingty. under FRS 102 the scheme is accounted for as if it w¢re a ¢Jefined contributions
scheme. The school is liable to contribute to the scheme at the rate presrxbed by Ihe acbjary from time to
"me.
Th* school previousty participated in a career average revaluel eamings (CARE) defined benefft scheme for
non-teaching staff. Under FRS 102, Ihe nel present value of deficrt contributions payable, per the latest deficit
funding arrangement, has been recognised as a ￿ablMY.
15-

ST MARVS SCHOOL. GERRARDS CROSS. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
CAtleal aceountong •$timatès •nd Judgements
In the applicats.on of the ChariV5 ac￿untIng polirye5. Ihe Govemoys a￿ wul￿d to make judgements,
estimates and assumpb.ons about the canwng amount of assets and liabil￿e$ that a￿ not readity apparent
from tsiher sources. The estymate5 and assooated aSSumpt￿n5 are based on historical experience and other
factors that a￿ considered lo be relevant. Actual result5 may dfftef from these estimates.
The estimates and UndwI￿vr9 assumpb.ons afe reviewed on an ongoing basis. Revisions to accounting
estifflates are recognised it) the period in whith Ihe eslimate is revised where ihe revision affects onty that
pefiod, or in the peiiotj of the reviwn and luiure perh)d5 knthere the affects both current and fvture
periods.
Crltlcal ludgements
Depreclatlon
Depreuation has been calculated based upon the estmnated useful economic Iv4es of fixed assets.
DepreCiat￿n for the 13 month peiiod totslled £377.197 (2024.. £328.9341.
Provlslon for bad debts
The pmvision for bad debts has been calculate(I based on managements a55es5ment of whether outstsnding
debtors will be received. The proviwon lotalled £50.CK(J at the 13 n￿￿th period end. {2024'. E50,000}
Income fmm ch41it•bJe actlvllles
Charltable Charitable
Activitles
Acll¥ities
forthè13 forthe 12
months to months lo
August
July
2025
2024
School fees (one acadenyc yearl
Less discounts
Trip inc(Ime
Olh¢r income
8,563,647 8,260,509
1830,0171 1836,4911
15.168
7,307
115.190
143.208
7.863.9B8 7,574.533
Anaty$i¥ by lund
Unrestricted funds
Restricted fvJnd$
7.863.988 7.$69.533
5,000
7.863,988 7.574,533
Income fmm chantable a￿￿￿eS was £7,863,988 12024.. £7.574,5331 of whith £7,863,988 was unrestrided
12024.. £7,569.5331 anrj £Nil restrided (2024". £5,1￿). SdK)ol fees for onty one academic year have been
included in both 2024 and 2025.
16-

ST MARY'S SCHOOL. GERRARDS CROSS. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
Incom• from in¥estrftents
Unrestricted Unr•strlcted
funds
lunds
forthe13
forthe 12
monlhs to
rnonlh8 to
Avgust
July
2025
2024
Interest receivab
78.701
70,880
The inve5trnent income was £78,701 I2￿24.. £70,880) ofwhich £78.701 was unrestricted {2024'. £70,880) an
£Nil re$tricted12024." £Ndl
Expendiiuwe on charitable aClivili¢s
Charltable
Actl¥ities
foTthe13
months to
August
2025
Charitsble
Activities
foTthe12
months to
July
2024
Dlrect costs
Staff costs
Catering
Educalional SUppl￿S
Staff support and development
4,838,B26
428.895
158.665
18.840
4,233.048
373.930
132,927
17,251
5.445.226
4.757.156
Share of wpport and 9ovornance ¢osts (see note 61
Support
Govemance
3.263,669
12.560
2.765,991
14.572.
8,721.455
7.537,719
AnatysS8 by fund
un￿$tri￿ed lunds
Restn(aed lund$
8.720,690
565
7,533.208
4.511
8,721.455
7,537,719
Expendilvre on chanlatle artivities was £8.721.455 {2024." £7,537.7191 of whKh £8,720.890 was unrestricted
12024.. £7,533.2081 and £565 restn.cted I2￿￿4.. £4.5111. Due to the than9e in year end from 31 Juty to 31
Augus1. Ihe 2025 results fof stsff costs indude an additional month of expenditure relating to August 2025.
17-

ST MARYS SCHOOL. GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
Support costs allocated to actlvllies
Totsl fortht Total forth*
13 months to 12 months to
August
July
2025
2024
Staff costs
Depreciatson
Adrninislratwjn
Gardening and travd costs
Overhead and IT costs
Financial and other expenses
Other non-capital expenditure
Repairs and maintenan
FRS102 pension finance a¢*"ustment
Bad debt wlite off
G￿ernanCe tosts
1.630,626
377,197
417.604
78.892
HO,897
176.742
8.706
108,101
3,748
21.156
12,560
1.319,210
328,934
390,837
84,948
361.367
83.391
33.634
134,540
3,180
25,950
14,572
3.276.229
2.780.563
Analysed between:
Charitable Activities
3.276,229
2,780,563
Included in 9o¥emance costs a￿ audit fees totsll'ng £12.5LKJ ex¢*Jding VAT {2024.. £9.0001.
Due to the Change in year end from 31 ju￿ to 31 AugusL Ihe 2025 resuhs for staff costs. depreaation and
overheads indude an addrfifmal month of expetNlilure relatin9 toAu9U5t 2025.
Nei movemtnt In funds
2025
2024
The nel movement in is slaled after thargingl{uedrtmg):
Fees payable for the audit of the tharivs fman(ial stateM￿ts
Depretiation of owned tangible fixed assels
12,500
377,197
9,OCpJ
328,934
Governors
Mrs Clifford received payment for her w￿k as a siwy tea¢h¢r. This was at a market rate of r*n￿neratie￿ of
£33,75812024.. £26.4481.
No other Govemors (of any persons connected wth thernl r*cer¥ed any temunerats.on or benefts frm the
Charity during the 13 rnonth period12024.. £Nill.
None ofthe G¢)vemors had any expenses reThiKl￿ed ty the Chaity during the 13 month period12024.' £Nill.
The key management peTsonnd of Ihe charty compn5e the Headteather. Deputy Headleachers and Bursar.
The tolal amount of employee benefrts (induding employer pension c￿ntribUtiOns} rer￿1ve￿ by key
management petsonnel for their services lo the tharity VAS t648,31712024". £549.4431.
18-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
Employoe5
Th¢ average monlhty nurthr of employees during the 13 fflonth period was..
2025
Numbpr
2024
Number
Teathing - fvll tirne
Teathing - part time
Non teachin9- fv11 lirne
Non leachin9- Part b.me
21
22
42
40
. Toial
113
111
Total for the Total for ¢he
13 month$ to 12 months to
August
J￿Y
202S
2024
Employment eosts
Wages and salaries
Social seuJTty costs
Olher pensw costs
4,793.455
538,778
1,137,219
4,293,689
414,431
844,138
6.469,452
5.552.258
Oue to the change in year end frrrfn 31 Juty to 31 August, Ihe 2025 results for emptynent costs incbjde an
additional nhjnth of expendrture relaling to August 21Y25.
The number of employees whose annual ￿r￿nefatsOn was mrKe Ihan £60,C
is as fo1ry41S.'
2025
Number
2024
Number
£60,Cfj1-£70.000
£70,001-£80,000
£80.001-£90.000
£90.001-£100.1)IxI
£110.0014120.OC4J
£130.0014140,000
19-

ST MARYS SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 AIONTH PERIOD ENDED 31 AUGusf 2025
10 Other expendlture
Unrestricted Unrestrfcted
fvnds
funds
for the 13
forth• 12
months to
months to
Au9U$I
July
2025
2024
Finanong costs
3.856
5,775
11 Taxalion
The charity 15 exempt from tax on income and gains tslling vitiin 5ectKJn 505 of the Taxes Act 1988 or sedion
252 of the Taxath"on of Chargeable Gains Act 1992 to Ihe extent that these are applied to its charitable objects.
12 TangiNe fixed o$$•ts
Land and Assets under
Pknt and FtLtsvM and
TbVeb#h•
Total
Cost or wal￿110n
At 1 August 2024
Addiltons
Disp05als
Transfer in year
10,119.887
225.401
30.755
270.365
31.785
1.150.897
202.812
{12.1001
21,522 11,593,426
1.71x1
461,698
{12,1001
30.755
{30,7551
At 31 August 2025
10.376.043
302,150 1.341,609
23.222 12.043.024
Depreciation and
Impatrment
At 1 August 2024
Depreaalion char9ed in the
13 month permjd
Eliminated in resped ol
disposals
1,658,259
38.233
671.381
4.304 2,372.177
186,664
16.335
169,195
5,003
377.197
112.1LKJI
112,1001
Al 31 August 2025
1,844.923
828,476
9.307 2,737,274
Carrying •mount
Al 31 August 2025
8.531.120
147.582
513.133
13.915 9.30S,750
Al 31 Juty 2024
8.461.628
30,755
232,132
479,516
17.218 9,221,249
Land and buildings a rarying amount of £5.975,OCKI were revalued al 17 April 2015 by Jone5 Lang
Lasalle Ltd. independent valuets not connected ¥*th the Chan"ty on the tsa￿$ of market value. Subsequent
additions are at cost.
At 31 August 2025, had the ￿valued assets been carried at histori¢ cost less accumulated t1epreciation and
8ccumul3ted Impalm￿nt I0￿s. thcir cawg am¢yJnt would have been approximatety £5.428.9JO (2024..
£5,S76,6331.
-20-

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
12 Tanglble filed a￿ets
(Continued)
13 Financial Inslrumtnts
2025
2024
Canylng amount ol fi*Mnclal a$s•ts
Cash held in treasury ￿seThes
750,000
1,OSO,O
14 Debto
202S
2024
Amounts falkng due 7*lthin ¢)ne ye•r.
Stholars accounts
Othw debtors
28,596
121,935
107,401
112,385
150,531
219,786
1S Loans •nd overdr•fts
202$
2024
Bank loans
93B.697
1,042.217
Payable ￿thin one year
Payable after one year
130.439
808,258
130.439
911.778
The Bank loan. which indudes rolled-up inte￿$t. is repayable by fixed monthty instslmenls of £10.870 per
month until the final repayment date, 31 January 2036. when any balance remarning on Ihe account becomes
repayable. Interest is accwed al the rale of 1.84% above base rate.
16 Creditows.. amounts tslbing dye T￿thin one ye•r
2025
2024
Bank loans
Other taxation and social seoJnty
Deferred income
Trade credilors
Other credrtors
Accruals
15
130,439
195.308
874.403
412.333
211.181
30.050
130.439
18
852,861
106,111
230,899
27,008
1.853.714
1,347,318
21

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR TIIE 13 MONTH PIRIOD ENDED 31 AUGUST 2025
17 CredStoYs: amounts falling due after more thaD year
2025
2024
Bank loans
15
808,258
911,778
18 D•l•rrBd Incom•
2025
2024
Olher defer￿￿ in¢ome
874.403
852,861
Deferred income 1$ induded in the finano¥l $tstement$ 8$ follm..
2025
2024
Deferred income is included wrthin_'
Current liabilities
874,403
852.861
Movements in the 13 month period".
Defer￿ incorne at 1 August 2024
Released from previous periods
Resources deferred in the 13 month ￿[1(*1
852.861
1852.8611
B74,403
175.884
1175,8841
852,861
Oeferred incoff* at 31 Augvsl 2025
874,403
852.861
Deferred income represents fees a￿ recei¥e(l ¥1 athtance but relate to Ihe nexl finanual year.

ST MARY'S SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
19 Relirernent bengfft ￿h￿ne5
Oefined contribulion
The majonty of the staff parbcipate in one of hvo pension sthemes.. the Teachers. Pension Scheme Engsand
and Wales ffPSI for teaching and related slalr. and the Flexth Rets"rement Scheme for non4eaching staff.
Teachers. Penslon Scheme
The TPS is an unfunded mul110m￿OYer defned beneffts pension sche￿￿ govemed by the Tead)ers' Pension
Scheme Re9Ula1￿￿$ 2014. Members contribute on a "pay as you go. basis wth c¥)ntn'butions from members
and the employer being cJedrted to Ihe Exthequer. Retrement and other pension beneffts a￿ paid by publ
funds provided by Padiarnenl
The employer contrilwtyon rate is sel following stheme valual￿n$ undertaken by the Government Actuary'$
Department. The latest actuarial ¥aluatKJn of the TPS related to the period ended 31 March 2020, and that of
the LGPS r¢laled to the period ended 31 March 2022.
The Teachers. Pension5 Regul81¥)ns 2010 reqLMre an annual accoL￿t, the Teachers. Pen￿On Budgeting and
Valuation Account, to be kept ol recelpts and expenditu￿ linduding the cost of pension iweasesl. From 1
April 2001. the Account has been credrted *ryth a real rate of retum, which is equNalenl tts assuming that the
balance in the Account is invested *) nobonal in¥estments that V￿ce that real rate of ￿tUrn.
Scheme ehanges
The key provisions of the refonned stherne implernented from 1 April 2015 indude" a Fension based on
career average earnings.. an accyval rate of 1157th. and a Nonnal Pension Age equal to Slate Pension Age.
but with options to enable member5 to Teb"re earlier OT later than their Normal Pension Age. Importantw,
pension benefrts built ￿ before 1 April 2015 wll be fvlty protected.
Post year tnd event- Teachefs Ptnsion Scheme
In November 2025. the submitted form* nokn to Ihe T•acher&' Pension Scheme ITPSI ol rts
decision to exrt the scheme. In line the slalutory nobcE penod. the School's partsupation in TPS wll cease
on 31 March 2026. which Mryll be the dale on teathing staff atuue pension benefits within that
scheme.
th effect from l Aprll 2026. Ihe Sehool adopt the Aviwa Pension Trusl for Independent Schools
{APTISI as its penston provi%on for teathing stsff. From Ihis dale. empl1)yer and empkjyee coniribution5 lof
eligible leathing Staff will be directed into APTIS.
8enefils accrued within TPS up to 31 March ￿2fj remain ft* wote¢ted under TPS regul*ion$. Fului•
pension benefrts from 1 A￿11 2026 ¢knYard wdl be govemed by the terns of the APTIS scheme.

ST MARY'S SCHOOL, GERRARDS CROSS. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THC 13 MONTH PERIOD ENDED 31 AUtsU5T 2025
19 Retirement benefrt ¥¢heme
Icontlnuedl
Flexlble Retlwement Pl•
Th¢ o)mpany particip*e$ in the stheffle. a muh1-em￿0Yer stheme vthich provides benefits tts some 37 non-
associated employers. The scheme is a deffined benefii Scheme in the UK.
11 is not P055ible for the compary to obtain suffioent info￿nab.0n to enable it to account for the scheme a5 a
defined benefit stheme. Therefore it accounts forthe scheme as a defined Cfjntn'butK￿ scheme.
The scheme is subject to the fvindin9 leg￿lati¢)n the Pensirns Act 2LYJ4 4¥thich ￿ne into force on
30 December 2005. This, togelhei with d(K￿MentS issued by the Pen*ons Regulator and Technical Actuarial
standards issued by the Financial Reporb"ng Counal, set out the framework for funding defined benefft
oc¢up41ional pensw 5therT*$ in Ihe UK.
The s¢h¢me is d•$$ffi¢d a$ a lasl-man standing anangement.. Therefore the ¢0[￿nY is p￿entiaty li8￿* for
other participating employers. obligalions rf those employew5 a￿ unable to meet their share of the scheme
deficrt following withdrawal froffl the stheme. Partitspating employers are legalty required to meet their $h3re
of the stheme defiot ¢)n an annuty purthase basi5 On withthawal from the schen￿.
A fuu actuarial ¥aluatirm lor the scheme was carried out at 30 September 2022. This valuation showed assets
of £49.6m. liabilities ol £57.1m and a defiot of £7_5m_ To eliminate thi5 ftjnding shortfall, Ihe Trustee has
asked the partiopating employers to collecb.vety pay total additional contrt)ut#)ns to the scheme as follows
Deficit Contribvlions fri)m 1 Apwil 2024 10
31 March 2027..
t1.672.0￿ per annum (payable monthly and increasin9 by 3.0%
ear on the 1st
Note that the scheme's pwous valuation was carrieLI out wlh an effeciNe date of 30 September 2019. This
valuation showed assets of £79m, liabilth.es of £93.9m and a defirit of £14.9m. To eliminate this fundin9
shortfal, the Trustee asked the partKipating ernploye￿ to pay additKJnal conlribvbons to Ihe scheme as
follows..
Defirit Contrit¥Jb"ons from 1 April 2021 to
30Se
lember 2027..
£1.530,C￿l per annum (payable monthty and increasing by 3.0
each
ear on the 1slApril)
Th? recovery plan contn'butions are *JGated lo each partiupating emp*er in line T￿th their estimated share
of the scheme liabilrties.
ere the stheme is in defficrt and where the company has agreed to a defficrt funding atyangement the
eompany recognises a liakn.lty for this obligation_ The an￿>[bnI rett4Jnised ts ihe net p￿sent value ol the deficit
reduction contributions payabk under the agreement Ihat ￿lateS to the deficit. The presenl value is c3lculaled
usin9 the discount rate detailed in these d1sdosu￿5. The unwinding of Ihe discount rate is recognised a5 a
finance co$L
-24-

ST MARY'S SCHOOL. GERRARDS CROSS. LIMITED
NOTES TO THE FINANCIAL STATEMENTS qCONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
19 R•tirnment benefit schemes
Icontinuedl
Oellned benellt schemes
Key 8ssumpfr.ons
2025
2024
Discounl rale
4.36
The dis¢ounl rates shown above are the equivajenl 5in9k discount rates which. wl)en used to discount the
tulure ret¢)very plan contribub.ons due. would give Ihe same re5utt$ 85 Using a full AA corporate bond yield
curve to discount the Same recovery plan contribution5.
PRESENT VALUE OF PROVISION
2025
2024
Present ¥a￿t of provision
52,295
84,228
RECONCILIAnON OF OPENING AND CLOSING PROVISIONS
2025
2024
Provision at s￿rt of period
Unwinding olthe discount lactor (interest expense)
Deficit contribub.on panj
Remeasurements- *mpad of any change in assumptions
Remeasurem¢nts- anendments to the contribubon schedub?
84.228
3,856
136,038)
249
110.B88
5.775
129,7011
1,114
13.848)
PrWsl￿ at end of period
52.295
84.,228
INcoMe AND EXPENDITURE IMPACT
2025
2024
Interest expense
Remeasurement5- impact ol arby thange in 055urnpIKJns
ReMeaSu￿rnents- wnpad of any change in a$suThylK>n5
3,856
249
5.775
1.114
13,484}
"indud85 d¢fined conlribubon sthemes and futu￿ seThtyce contr*ubons {i.e. exduding any defvt ￿ductIon
payments) to defined benefft schemes which are treated as defined contribution sc*emes.
The Company must recognise a liabihty measu￿￿ as the yesent value of the contributions payable that Arise
fmm the defjcit recovery ag￿rnent and the ￿Su￿"ng expense in the income and expenditure account i.e. the
unwinding ol the discount rate a5 a finance tost in the peiiod in which it arises.
The folltiwng schedule detads Ihe conlrthknis agreed be￿n the conyany and the scheme at eath
year end penod..
25-

ST MARYS SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTI.1 PCRIOD ENDED 31 AUGUST 2025
19 Retirèment bènèfft sel*m•s
Icontlnuedl
DEFICIT CONTRIBUTIONS SCHEDULE
Year ending
31 Au9USt 2025
£s
33,888
31 Juty 2024
31 July 2023
£s
Year 1
32,820
28.587
Year 2
20,110
33.805
29,445
Year 3
22,983
30.328
Year 4
31.238
Year S
Year 6
Year 7
The coryany rnusl ￿cOgnise a Ikibilrty Measu￿ as the present value of the contributions payable that
arise frorn the defrji recovery agreement and the resulb.ng expense in Ihe in￿rre and expenditure accounl
i.e. the unwnding ol the discount rate as a finance cost in the peri¢xl ￿ wh•* rt arises.
It is Ihese contrilMJts"￿s that ha¥e been used to derive Ihe corrpanys balance sheet h"abilty.
20 Restricted funds
The restricted funds of the tharity comprise the unexpended balances of dI￿al￿n$ and gTrnts held on trusl
subje¢t io $pe()fic condrtK*)s ty donors as to how they may be used.
At 1 August
2024
Incoming
resources
Resources At 31 August
eypended
2025
Nnaths prize
Sports award
General
SEN Department
1,080
750
1.000
1761
750
489
15651
3.319
15651
2,754
Pre¥lou$ year.
At 1 August
Incorning
2023 resources
R850urc•s
expended
At 31 July
2024
Maths piize
SpI￿s award
General
SEN Department
1,080
750
1,000
489
750
14,5111
2.830
(4,511)
3.319

ST MARYS SCHOOL, GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
21 Analysis of net assets bel￿￿ funds
Unrestrlcted
funds
2025
Resirlcted
funds
202S
Totsl
2025
At 31 Augu8t 2025-
Tangible a55ets
Current a5sets1llia￿IiIIeS)
Long term liatMlib"e5
ProvI$￿tin$ and pensions
9,305.750
1291.2401
(808.2581
152.2951
9.305.750
1288,4861
1808.2581
{52.2951
2,754
8.153.957
2,754
8.156.711
Unrestricted
funds
2024
Restricted
funds
2024
Totsl
2024
At 31 Juty 2024..
Tangible a55ets
Current assetsllliabilitsesl
Long temi Tr"abilits"es
provi￿On$ and pensions
9.221.249
711.020
1911,7781-
184.2281
9.221,249
714.339
(911.778)
184,228)
3.319
8.936,263
3,319
8.939.582
22 Operating lea¥e comrnilmenls
At the reporting end date the Chanty had outstanding commi1Th￿ntS for future minimum lease payments under
nOn￿ncelIa￿e operabng leases. fal due as follcths..
2025
2024
W*thin one year
Be￿een tsvo and five years
140.509
157,220
157.281
235,649
297,729
392,930
23 Capltal commitin•nts
Amounts contracted for but nol prowded in the finanoal ststements:
There are no amrNJnts induded for Capi￿ ccrfwwnitrnents.
-27-

ST MARY'S SCHOOL. GERRARDS CROSS, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 13 MONTH PERIOD ENDED 31 AUGUST 2025
24 Ev•nts ¥ft•t thè roporting d•te
Thère were no post balance sheet events to disclose.
The decision to exrt the Teachers Pens*)n Stheme has been detailed in note 19.
25 Related party transaclions
There were no disdosable related paty tran58ction5 during the 13 rnnth period, olher than those noted
note 812024- none).
Cash gen¢f•t¢d irtyn oper•tiws
202S
2024
(Defiutllswplus for the 13 rnonth period
1782,6221
101.919
Adjustments for.
Investment income recognised in statenwt of financial acb¥it*s
Depfeoation and impairment of tangible fixed assets
Difference bets￿een pension charge and cash contributhjns
(78,7011
377.197
12491
170,8801
328.934
2.734
Movements in I￿rkIng capltal:
Decreasellincreasel in debt¢Y5
Increaselldecreasel in ueditors
Increase in PTOVlSiOnS
Increase in deferred income
69.255
484.854
131,9331
21.S42
1150.3591
1523.3S51
126.6601
676.977
Cash generaled fvorn opernllo
59,343
339,310
27 Analysls of changes In nel Idebtlllunds
At 1 August 2024
¢•* Iltythry AtJl Augwt
2025
Cash at bank and in hand
791,871
1127,1741
664.697
Loans falling due vnthin one year
Loans falling due after more than one year
{130,439)
1911,778)
(130,439}
{808.2581
103,520
1250.3461
123.654)
1274,ocpJI
28-