Company reglstratlon numb•r 00898640 (England and Wales) Charlty règlstratlon number 310871 (England and Walo51 GOSFIELD SCHOOL LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
GOSFIELD SCHOOL LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Truste•s Mr R Jackson Mr J Corrall Mr M Ford Mr R Smith Mrs K Makaroff Mr D Sakal Mr J Graves Mr D Foster Mr R Cranfièld Mrs D Sakal Mr C Brown Ms E Lop8z Mr P Gregory Ms L Shields Ms C Rè(Jlern IAppointed 7 October 20241 (Appointed 7 October 20241 IAppoinl8d 7 OGlober 20241 (Appoinled 7 October 20241 (Appointed 7 Octobei 20241 (Appointed 7 October 20241 (Appointed 7 October 20241 (Appointed 14 October 20251 (Appointed 14 October 20251 IAppointed 14 October 20251 (Appointed 14 January 20251 Charity number IEnyland and Wales) 310871 ompany number 00898640 Regi5t•red ofllce Cut Hedge Park Halstead Road Gosfield Halstead Essex England C09 1PF Auditor Affinia The Octagon Suite E2 Middleborough Co5chesler E55ex C01 1TG Bankers Barclays Bank PLC 1 Churchill Place Canarywharf London E14 5HP Solicitors Ellison5 Headgate Court Headgate Colchester C01 1NP
GOSFIELD SCHOOL LIMITED CONTENTS Pagg Trusteès, report Statement 0¢ IfUStaes' responsibilitses Independent audf(oes report 10-12 Statemenl of financial activities Balance sheet 14 Statement of cash flows 15 Notes to thè flnancial statements 16-31
GOSFIELD SCHOOL LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees present their r8porl with the 8udited financial statements of the Charity for the year ended 31 August 2025. The Trustees have adopted the provision5 of the Statement of Recommended Practi ISORPI 'Arcounling and Reporting by Gharities" IFRS 1021 in preparing the annual report and financial statemènts of tha Charity. Oblectivgs and activities Gosfield School 15 an independent school for boys and girls agèd 2-18. The Charity's aims and objectives seek to providg a and relevant learning environmenl in which young people can excel and flourish both academically and socially. and an environment within which all our pupils feel valued and abl6 to achieve personal excellence in all aspects of life. The p8rfomance ol the Ch8rity is measured through its annually published attainment results for GCSE and A level results. These are measured against our published targets for future attainment. In addib"on. Valve Added scores are monitored as a furkher measure of perfomance. The Charity has a general aim to provide benefit to the wider ¢omrnunity. The Trustees have given due consideration to the guidance of th8 Charity Cornmission. specifically the detailed guidanee for feè•charging charities. Examples ol the Charity's work In this area are given below in th8 Public Benefit section of this report. Bursary policy The School aims to keep the fees as affordable as possible. whilst maintaining standards towards achievement of the stated aims and objectives. The School operates a Bursary scheme tts make a Gosfield School education accessble to pupils who mighl otherwise be unable to afford the fees. During the year ended 31 Augusl 2025, the School offered Bursary sUPPOrt to the value of 5Q/o12024 4.5 /01 ol gross f8e income, demonstralin9 the commitment to the furtheran of education for the wider communily. The School's extensive grounds and sports hall facilities are made available l01ocal clubs and community projects within existing planning constraints for a diverse number of events.. Local sports group5 using th8 facilities on 8 regular basis indude the Braintree Bowmen, Halstead Ladie5 FC. Halstead Crick8t Club, badminton. basketball, pickleball, fitn&ss and wnnin9 clubs, Cogg8shall Cricket Club. as well a5 Goslie1d Pickleball Club and Braintree Trampolin8 Club. The School hosts Charity lun runs. The School grounds are rnadè availabl8 for local clubs and associations. lor races and obstacle course events, including hosting the annual Halstead Road Runners cross-country race and the Halstead Back Yard Ultra. An annual schools, cross-Gountry cornpetition attracts runners from several loeal schools, including Gosfield Commijnity Primary School. The school frequently otters transport to local schools lo larilitale their attendance at these events. Pupils from local maintained schools are invited to participate in enrichment acliviiies including foresl schc>ol and sports camps, performing arts 'master classes, and workshops, again with the School offering transport where Tequired. They are also invited to watch the sGhool production. The school provides a transport service at cost price foi local schools to take them on school trips and events. The School give5 the local scout group access to its facilities lor their weekly gatherings, at no cost. The School also hosts the annual Jamboree on the Air IJOTAI event Ie of charge. welwming local scout groups throughout the weekend. A new scout group will also be using the School's f8cilities for their regular rn8etings. The School's Performing Arts Cenlre is hired by local perfomiing arts groups for weekly rehearsals and classes, as well as for 8nnual productions and local dance competition5. Holiday clubs are open to local children as well as current pupils, benefitting local working farnilies. Charlty Fundraising for the loGal community e.g. Prep Easter egg collection for families in need in Ctslchesier and Prep Harvtrst Festival collection for Brdintree Food Bank.
GOSFIELD SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Bursary policy The School offers a rdnge of dlscretionary bursary schemès to famlliès of pupils. Community bursaries of up lo 1000A aro avai18blo throughout thè School to applicants from the maintained sector who would be considered an asset to th8 School and whosè parents can demonslrate insufficient financial means lo educate their children ind8pèndéntly. M8ans-tè5ted bursary applications are considered by the Finance Committee annually and a decision Made as to the level and length of time bursary support may be provided. In total, the Sehool supported 5312024 .'391 pupils of which 412024.. 51 pupils received fee remission in excess of 75Q/o. Scholarship Poll The School awarded Scholarships to 112 12024.. 871 pupils, based on their educational or co-currieular morit and potential, during the year. Volunteers Volunteers contrtbutè to mèmbership of the School's Gov8miTVJ Council. Volunteers also assist with the Constitution of the standing committees, notably finan¢e. premlses, health and safety and strategie planning, and lend assistsnce and advice in the preparation of management ar statutory accounts, lorecasls, minutes and retums. Parent volunteers, including the Gosfield PT& support and assist wlh School life and fundraise to the benefit of all $tud&nts at the School. The Principal volunteers as a govemor al another irK18pendent school. Achlevemgnts and porformanc• Charitabb act5vltles Pupils have èxcelled and flourished acadernically and socially in line with the Charitys aims. Average student numbers were 351 for the year12024.' 3351. Examlnatiolt Results A5 a non4cadernically selective school, we are ple88ed to help our pupils achieve their full pot9ntial. While GCSE and A Level exams are now fully back to normal, the long8r-tarm èffecls of the Covid educational interruptions continue to be seen. However, students at Gosfield wer8, 85 always, supported by excellent mambers ol staff going above and beyond perfomed credlbly in their examinatitsns. Gosfield students in Year 11 IGCSEI achleved 23% of all grades at 9-7 12024.. 220/tsl, and 83Yo of all grades at 9-4 12024.. 81%). Value Added. a key metric tor us, incrèased from the previous year by 0.32 of a grade, a significant achievemenL For Gosfield student$ in Yèar 13 {A Level). ol all grades awarded, 56.ts were A"_B 12024.. 39Y.1, 67% A'.C12023.. 70%) and 94P/o were pass grades12024.' 1(X)V.l. All Y$ar 13 leavers seeking to entèr higher educalion athieved arb offer of a place at an institution of their choosing.
GOSFIELD SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 EnrichmentlExtrarycurricular The School provides a compr8hensive programmè of enrichment opportunittes. induding a wide range of after- school activities, educational visits, and residential experiences Yor all year groups, excluding Nursery. In the summer term of 2025, thè School held a fvll Activities Week, which included residential trips both within the United Kingdorn and to France. The programme for Senior pupils rernaining in school incorporated a highquality range of on-site and off-site activib"ès, including visits to Adventure Island in Southend. Indoor Climbing. Paddlè Boarding. Nuclear Races and Go Ape. Pupils also participated in a one-day film School. a play in a week. a charily walk and an outdoor cooking course. Year 6 pupils attended a week-long residential visit to Norfolk Manor. The remaindeT of the Prep School took part In a themed week entitled "Full S.T.E.A.M. Ahead" which induded activitie5 such as LEGO engineering and animation workshops, pottery workshops with Essex Pottery, bowling, art sessions, and physical fitness activities. Pupils in Year5 >5 were additionally invited lo participate in an overnight camt%'ng experience in the school playground. Throughout the academic year, the School also organised a variety of day trips and experienlial learning opportunities, including expeditions undertaken as part of the Duke of Edinburgh's Award programme, a ski trip, watersports activity week in Biarritz, amongsl rnany others. The total number of Irips undertaken during the 2024125 academic year wa5 74, compared with 59 in the previous year120241, representing a year-on-year increase of 25°A. The School also operates an extensive co-curricular programme. delivered primarily after school and at lunchtime. Activities are designed to cater for a broad range ol interests and are reviewed annually with input from pupils. The programme Includes sporting activities (such as lennis, netball, football and rugbyl, participab.on in the Duke of Edinburgh's Award, as well as art, performing arts. 18nguage5. crafts. and board and card games. Each term sees over 110 activities taking place, many of which offer opportunities lor student leadership. Assembly InltiatlVOS Topics covered Included Employability. Talents Showcase, Safer internel, Ernpathy W88k, Science Week. Children's Mental Health Awareness Wèek, Healthy Minds, ADHD Awareness, Black History Month. Movember. Red Nose Charily. Anti-Bullying, Children In Need. Holocaust Memorial Day, Safer Internel Day. British Science Weak, World Cultural Diversity Day, Men's Health Awareness Week and walk, Oddballs, International day of dlsabled, intemational women's day- into Science. national careers week. House activitles A wide variely ol activities took place in the year including Comic Relief fundraising event, Red Nose Charity Event, mental health awareness. spelling beel grammar, Inlerhouse netball. crickel. and rounders. The pupil padiament is also a confident and active part ol the School, and the sludenl leadership help with the student led tuck shop. Performing Arts Gosfield Performing Arts continued to grow and develop this 8cademic y8ar. This year's production of Beauty and the Beast has had our biggest cast and crew yet with over 65 students involved, ranging in age from 7-18. Having been shortlisted as Finalists in the 2025 ISA National 'Excellence in Performing Arts. Awards, we continue to have sUc$S in National ISA competitions, achieving 1st place in the A Cappell8 Competition IKS31, flnalists in the Dance Competition IKS21 and 2 separate finalists in the Musical Theatre Cornpetits'on and 1 judges award. We hosted the Nats"onal Musical Theatre finals and celebrated Ihe ethos ol "Arts for all. with our first performing arts awards evening. Our Sixth Form Performing Arts couise continues lo go from strength to strength. with 100¥o of students achieving distinctions and securing places 8t their first-choice drama school. The whole whool show. 'Btrauty an¢J the Beast. was a highly successful production which included children from across the range of Prep and Senior. The programme exp8nded with Sixth Form producbons - One Hundred. the Drowning Girts and Jury Duty. The Performing Arts curriculum is supported by over 16 activities and clubs per week, as well as 20+ perfomance opportunities each year for students throughout the school from Reeeption right up to Yèar 13.
GOSFIELD SCHOOL LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Sport In sport, an in¢r8asad programme of competthve and friendly rnalches with other independent and rnaintained schools, for trxjth Prep and Senior pupils, took place across thè year. Thesè included regular fixtures in netball. hockey, rugby, ¢ri¢k8t ar football. In cricket. our U15s won thè Ind8pendènt Schods Association IISAI national compelitson for the s8cond time in a row and our U13s, U14s and U155 reached the finals of the Essex County Cup in their age divisions again. It has bèèn exeiting to see the many years of h8rd work invèsted in our cricket academy reach such positive fruition. Cricket contSnues to be a flagship sport for the S¢hool, wlth an exceptSonal series of tearn and indiv5dual successès across age groups. Key achievements.. U12 County Cricket Champions, d&monslraling the strong foundalSons within OUT younger age group5. U17 Nabonal Cricket Plate Champions, marking a significant sUC$S for our senior squad. U15 ISA National Champions (for the second consecutive yegrl. U13, U14 and U15 teams once again reaching th8 Ess8x County Cup Finals, maintaining 8 consistsnt patleTn of excellence. Prestigious fixtures 8gain5t Marylebone Cricket Club IMCCI and Gènts of Essex., and Dgvaknpment ol the Cricket Feslwal. These outstanding r$sults reflect the depth, cornmitmgnt, and long-terni development f¢)5t8r8d through the cricket academy. The football provision has èxpanded considerably throughout the year, offering greater compettbve oppthjnities and structured development pathways. Key achievements.. Entri85 made into the ESFA (English Schools. Football Association) compelitions. Continuèd p8rticlpation in national ISFA Ilndependent Schools Football Association) cup competitions. Teams reached thè last 16 in both the ISFA U13 and ISFA U15 national cup compeh"tion", an excellent achievement that réflects the rapid proJression of the football programme. Thè School's netball provision has also seen significant development, particulady through enhanced coaching 8nd the growth Df competttive succ8S5. The launch and developrnent of a strengthened Netball Academy, supportéd by elile coaching from George Fisher. involving 32 girls in training twice a week has sub5tanlially Taised the 5tsndard of play and the ambitson of the netball programme. Cc¥npelitiv8 successes.. U16 girfs placed 5th in the National ISA Competition, an impressive 8thièvgment in a sirong nation81 field. U14 girls won the ISA Bowl, demonstrats'ng excellènt teamwork and resilience. U13 girfs qualified for the National Finals to be h¢ld in Wawick, marking a significant milestone for this developing age group. Hosting Re5ponsibili(ies and Rgpre8entats"ve Events Tre School strengthened ils reputation as a regional hub for cricket by hosting the U13 and U15 Girfs ISA Annual Cricket Cornpetitions. The ISA Regional Cross Country Competition, which brought togèther a wide range of schoo15 in a Wg11-tsr9anised and inclusive event. Sports tours rèmain a highly valued elem8nt of the School's sporting culture. providing pupils wth broader èxperience5, increased confidence and opportunits'es to compete internationally. Continued success of the Annual Year 7 Brighton Tour. Growth of annual foreign tours during October half t8rm, with rent destinations including Paris and M81ta. Planning is undetway for the next overseas tour. scheduled for Barcelona in October 2026. These tours remain an important part of the School's commitment to holistic spO.ng development. The commitment of staff, pupils and coaches, combined with an expanding nek of competilve opportunities, ensures that sport will remain a vibrant and successful part of school life for years lo corne.
GOSFIELD SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 FundTai5ing activitlès The charib.es are chg$8n by the Pupil Parliament and through a lde variety of activities we raised the fdlovmng totals.. Childrèn in Need.. £933.06 MS Society UK.. £584.03 Save the Children.. £415.74 Breast Cancer Now- Pink Ribbon.. £386.71 Comic Relief- Red Nose Day.. £500.30 Oddballs.. £128.31 Read lor Good.. £100.00 The Mix- Mental Health Walk.. £307.88 Financial rewew The School's financial perfomiance in the current year is in line wlh expectstions. The School rèported a net surplus of £207,80412024 - surplus of £163.6221. Going concern The Governors and TrusleÈ5 have examined the School'5 future financial performance through forecasting and scenario planning. Key assumptions in the lorec8St modelling include pupil numbers, staffing levels. inflation and property maintenanGe requirements. For these reasons, and the continued support ol GFM Holding5 Ltd. the Trustees believe there are suff1cient funds available within the School to continue Ir> operate as a going concern and the financial statements have been prepared on this basis. No materia1 uncertainties exist. ResèN•s policy The directors keep the secured bank overdraft facility under review to ensure that il remains adequate to cover the School's working ¢apbtal requirement5. The School'5 total reseNes at the year end amoun18d to £16.165.873 12024.. £15,958,069). which includes a revaluation reserve of £15.696,641 12024. £15,696,641). The directors aim to ensure thal the balance on the reserves Is always in excess of one lerm's expendilure. Principal funding sourc8S The principal funding sourc8 lor the Charity is through school fees, which are used entirely to SUPPOrt the aims and objectives of the Charsty. Income from school fees inGTeased to £5,060,576 in 2025 Irorn £4,852.024 in 2024. Investment policy and obje¢tNes Where from time lo time the School has cash balances in excess of its immediate need, funds are deposited in short term notice accounts or an instant access deposit account to eam interest. These are considered to be very low risk investrnents. Rental income 15 earned frorn lettings of the Sports Hall and Performing Arts Centre. The Interest earned and rental income are used to help th8 School directly to aohieve its aims and objectivès.
GOSFIELD SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Prfnelpal rlsks and uncertalnties The Board of Governors 15 responsible for the managelnent of risks faced by the School. Each year the Senior L88dership Tèam and the Board identify and assess risks and implèmènt controls to mrtigate against Ihese. In addition, each y8ar a formal raview of the risk managernent process 15 undertaken. The key controls irnpl8m8ntad by the School are as follows.. Fomial agendas for all Board and Committee activities Strategic planning, budgeting and managetnent accounting Established organisational Stwcture 8nd understood line of repofb'ng Formal written policies Clear, authoritative and agreed approval levels., ond Appropriate tralning for Governors and staff The Governors keep under review a risk management slTal$gy relating to.. Financial risk5 to the Charity. including the risk resulting from decreasin9 pupil numbers Future econornic and polibcal risks Risks associated wth the daily heaKh and safety of the staff, pup115 and visitors Risks associated with any off-site activities undertaken by staff and pupils The necessary level of income and reserves rèquired to support and maintain the viability of the School,. and The burden of meeting ConfOlty regulatory issues. Flnancial and risk managemont oblèctlves and policies For the year ended Augijst 2025. the key financial risks id8ntifiail wore the cost-of-living thsls, the impact of increased national insurance contributions. the higher national minimum wa9e, the 10$5 of charitable relief on business rates. financial pressure on the demographic of parents that make up our current market, eompetits'on from competitor schools and retaining high levels of service and partsnt satisfaction. This position wa5 further affected by the introduction of VAT on private school fees, %¥hich became applicable from 1 January 2025. cr8ating additional aflordability and enrolment risk for the remalnder of the 2024-25 a¢ad8mic year. In addition, certain fèès paid from 29 July 2024 for the January 2025 t8rm tsnwards were also brought within scope. This created rnaterial affordabillty pressures for families, particularly where household budgets were already stretched, and Could have Sed lo re4ut>¥ls for increased fee support. or pupil withdrawals. For the School, the key risk wa5 thèrefore not only the direct effect on fee levels. but also the potential irnp8cI on demand. retention, and cashffow across the second haK of the academic year Through the estsblished Systems for managing risk. the Govemors are satisfied that all foreseeable, rnajor risks have been identified and Managed appropriately Whe possible. 11 is, of course. recognised by the Govemors that systems can provide reasonable but not absolute assurance that major risks have been 8dequ8tely managed. Structure, govèrnance and management Governlng document The Charity is controlled by its governing document, a deed of trust. and constitutes 8 limited company. limited by guarantee. as defined by the Companies Act 2006. Gosfield School Limited is a company limited by guarantee Iregistere(I number 8986401 and a règistefed Charity Icharity nurnber 3108711 govemed by its memorandum and Articles ol Association (revised and adopted on 1 February 20061.
GOSFIELD SCHOOL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 The trustees, five of whom are also the directors for the purpose of company law. and who servfyd durlng th8 year and up to thè dale of signature of the financial statements w8re'. Mr R Jaekson . Mr J Corrall Mr M Ford Mrs E Larcombe Mr R Smith Mr P Davies Mrs K Makaroff ' Mr D Sakal Mr J Graves Mr D Foster Mr R Cranfie5d Mrs D Sakal Mr C Brown" F Springett Ms E Lopez Mr P Gregory Ms L Shields. Ms C Redfern Denotes also a director IResigned 31 August 20251 (Appointed 7 October 2024 and reslgned 31 August 20251 (Appointed 7 October 20241 (Appointed 7 Odober 20241 (Appointed 7 October 20241 (Appointed 7 October 20241 {Appointed 7 October 20241 (Appointed 7 October 20241 (Appointed 7 October 20241 IR85igned 6 April 20251 (Appointed 14 October 20251 IAppointed 14 October 20251 (Appointed 14 October 20251 (Appointed 14 January 20251 Charity ctsnslitution The School's five Directors (First Governors) are recruited annually from Members ol the school's Governlng Counc41. Recruitment and appointment gf now Trustees Membership of the Governing Council ol Gosfield School is governed by the Schtsol's Mémorandum and Article5 01 Association. In order to maintain a balanced Goveming Counesl, no more than 50.10 of the mernbership may be dfawn from parents of Current pupils of the School. The membership term is four years or tenure in the case of employees, and four years for elected representatives of the parent body and leaching staff. Members may re-apply al the end of their tenure. From lime to time the Governing Council may invite guests to join its meeting in advisory but non-voting capacity. Meetings are held once per terrn.
GOSFIELD SCHOOL LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Organlsatlanal structure The senior staff member to whom day to day rnanagement ol the Charity is delegat8d by the Truste8s and Goveming Council is Mr R Jackson, the Princip31 of the School. The day to day running of the School is undertaken by employed staff on ihe Senior Leadership Team, comprising the Principal, Head of Prep, Dgputy Héad of Prèp, Head of EYFS, Vlca Princlpal, Assistanl Principal SENCO, As515tant Principal Pastoral CarelOSL, the Assistant Princip81 Academic, the Heèd ol FinancelHR and the Head of Operations. Decision making The Board of Governors administers the Charity. It meets al least three tiffles a year as a full Board and there are sub-committees for Education. Finance, Grounds and Premises, Remuneration. Health & Safety and Strategy, all of which meet formally at least once each term with Èdditional meetings as required. Other working gTOUPS of Governors and senioi staff convene when n¢cess8ry to evaluate, oversee, andlor monitor specific projecls or Issues. The Principal is rèsponsible for all educational maiter5 8nd for the day-to-day management of th8 School. He heads the School's Senior Leadership Team and reports to the Board at each meeting. The Principal and Chair meet regularfy. Th8 School Development Plan is the working tool u by all parties and is regularfy rèviewed by the Governors. During the yèar. the Board and Senior Leadership Team progressed with the objectsves Set out in the School Development Plan. Heads of Operation5 and Fin8ncelHR are responsible for the man8gement of noTr4eaching stsff and for compliance and regulatory matter5 affectsng the School. They report direcuy to the Principal and to the Board at each Governors m86tsng. The GoveTnors mindful of their regulatory rgsponsibilitios. Induction and trainlng of new Trustees Members of thè Goveming Council who are eligiblè to bacome Twstees, are expected to undertake a Governor's ind(J¢tion Training Course which includes the obligatlons of Trustees. Audltor In accordance with the companls artides, a resolution proposing that AfTinia Icolchesterl be reappointed as auditor of thè company will be put at a General Meeting. The trustees. rgFX)rt was approved by the Board of Trustè&s. Mrs K Makaroff Trustee Date-.
GOSFIELD SCHOOL LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The trustees, five of whom are also the directors of Gosfield School Limited for the purpose of company law. aTe responsible for preparing the Trustees, Reptsrt and the financial stalements in accordance with appli¢able law and United Kingdom AtruntIng Standards (United Kingdom Generally Accepted Accounting Practicgl. Company law requires the directors to prepare financial statements for each financial year which give a true and lair view of the state of affairs ol the charity and of the Incoming resources and application ol resources, including the income and expenditure, of the charitable company for Ihat year. In Preparing these financial statément5, the trustees are requirèd to.. select 5Ultable accounting policie5 and then apply them consistently.. observe the methods and principles in the Charities SORP.. make judgem9nls and estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards have been followed, subj8ct to any materlal departur8S disclosed and explained in the financial statements.. and prepare the finanual statements on the going concern basis unless il is inappropriate to pSUrne that the charrty will continu8 in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any tirne the financi81 position of the chaiity and enable them to ensure that the finoncial stalements comply with the Companies Act 2006. They are a150 responsible lor safeguarding the assets of the charity and hence lor taking reasonable steps for the prevention and detecb"(>n ol fraud and other irre9ularities.
GOSFIELD SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GOSFIELD SCHOOL LIMITED OplnSon We have audited the financial statèmènts of Gosfield School Limited Ilhe 'charity'l for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and note5 to the financial statements, induding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Uniled Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Sland8rd 8pplicabla In the UK and Republic of Ireland (United Kingdom Gtrner811y Apted Accounting Praclicel. In our opinK)n, the finandal $tat8ments'. give 8 true and fair view ol the stale of the charitable company's affairs as at 31 August 2025 and of its incoming resources and appllcation of Tesources, for the year then ended". have been properfy prepared in accordance with Unltèd Kingdom Generally Accepted Accounting Practlc8,' arKI have been wepared in 8ccordanc8 with thè requirements ol the Companies Act 2006. Ba$ls for oplnlon We conducted our audit in accordance with Intèmatlonal Standards on Auditing IUKI IISAS IUKII and appSicable law. Our responsibilities under those standards are furthèr dèscribèd in the Auditorfs sPonsIbl1111es for the of the fin8ncial statements section ol OLir report. We are ind8pendent of the charity in accordance with the ethical requiTem8nts that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and w6 havè fuifi116d our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and approprlale to provide a basis for our opinion. Coneluslons relating to goin9 concern In auditing thè financial statements, we have ¢oncluded that the trustees, use of the going nCern basis of accounting in th8 preparation of the financial ststements is appropriate. Based on the work we have pèrfom)ed, we have not identified 8ny material uncertainties relating lo events or onditions that, individually or coll8ctiv81y, mèy cast significant doubt on the charity's ability to continue as a going onc8m for a period of at leasl iwglve months from when the financial st8t8ments are authorised for issue. Our spOnSibl11t1eS and the respoiibibilities of the trustees with respect to going concern are de$crib8d in the relgvant sections ol this report. Other Informatlon The other information comprises the information included in the annual report other than the financial statements and our audito¢s port Ihereon. The trustees are responsible for the other Infomation contained within thg annua5 report. Our opinion on the financial ststements does not cover the other informalTron and we do not expre55 any form of as51jran conclusion theT80n. Ou¥ responsibility is lo read th8 other infomiation and, in doing so, consider whether the other infomiatloll IS rnaterially inconsistent with the financial statements or ovr kno589e obtained in the course Of the audit. or otherwise appears to be rnateri8lly fflisstated. If we identity such material inconsistencies or apparent material misstatements. w8 are required to deternine whether this gives rise lo a material misstatement in the financial statements themselves. 11, based on the work w8 have performeil, w8 nclUd8 that there is a material misstatement of this olhÈT infomiation, we are required to r8POrt Ihat faci. We have nothing to report in this regard. Matt•rs on whi¢h we ar• r•quired to report by èxc•ptlon Vo have nothing lo report in respect of the following matters in relation tts which the Charlll8s (Accounts an(f Reports) Regulations 2008 requires us to report to you If, in our opinion.. the inforrnation given in the financial statements is Inconsistent in any material respect wth the trustees. report.. or sufficiènt accounting records havè nol been kept., or the financial staternents are not in agr8emtrnt with the accounting records,. or we have not received all the information and explanatsons we require for our audit. 10-
GOSFIELD SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GOSFIELD SCHOOL LIMITED Responsibillties of trustaes As explained more lully in thè ststement of trustees. responsibilit5, the trustaes, five of whom are also the directors of the charity for thè purpose of company law, are responsible for the preparation of the financial statements and for being salisfied that they give a true and fair view. and lor such Énlemal control as the trustees detemiine 15 neSSary to enable thg preparation of financial slalements that are free from material misstalement. whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continu8 as a going Gtsncern, disclosing. as applicable. matters related lo going concem and using the going concern basis ol accounting unless the trustees either intend lo liquidate the charitable company or to cease operations, OT have no realistic alternative but to do so. ALbdbtorfs responslbilities for the audlt of the financial statements We have been appointed as auditor under section 144 01 the Charities Act 2011 and report in accordance wth th8 Act and 16levanl regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial stalemènts Ès a whole arè free from material rnisstatement, whether due to fraud or error, and to issue an auditorfs repoTI that includes OLJr opinion. Reasonable assurance is a high lev81 tsf assurance t>ul is not a guarantee that an audit conducted in aw)rdance with ISA5 IUKI will always delect a material rnisstatement when li exists. Misstatements can arise fiom fraud or error and are considered material il, individually or in the aggregate, they could reasonably be expected lo influence the 8cofK)mic decisions ol users taken on the basis of these financial staternents. The extent to which our procedures are capable of detecting irregularitle5, including fraud. is detailed below. Auditors. responslbilitles for the audlt ot the financial statements Our objectives are to obtain reasonable assurance about whether the financtal statements 88 a whole a free from material misslat8ment, whetner due to fraud or error, and to issue a Report of the Auditors thal include5 our opinion. Reasonable assurance is a high level of assurance. but is not a guarantèe th81 an audit conducted in accordance with ISAS IUKI will always detect 8 material misslalement when it exists. Misstatements can arise frorN fraud or error and are considered material If, individually or in the ag9regaie, they could reasonably be expected to influence Ihe economic decisions ol users taken on the basis of these financial statements. Th8 extent to which our procedur8s are capable of detecting irregularitie5, including fraud is detailed below.. Our approach to identifying and assessing the risks of material misstatement In rèspect of irregularities, including fraud and nonvcompliance with laws and regulations, was as follows: The engagement partner ensLJred that the engagefflent team collectively had the appropriate competence, capabilities and skills to Identify or recognise non-compliance wilh applicable laws and regulations.. We identified the laws and regulations applicable to the company through discussions with directOTS and other managemenl, and from our comfnercial knowledge and experience of the education sector., We focused on specific laws and regulations which w8 considered may have a direct material effect on ihe financial statements or the operations of the company. including the Companies Act 2006, taxation legislation. data protection, anti.bribery, employm8nt, environmental and health and safety legislation.. We assessed the extent of Complian with th8 laws and regulations Identified above through making enquiriés ol rnanagement and inspecting legal correspondence, and Identified laws and regulation5 were communicated within the audit team fegularly and the team remained alert to insiancès of non-cornpliance throughout the audit. We assessed the suscèptibility of the company's flnancSal statements to material rnisstatement. Including obtsining an Understanding of how fraud might occur, by: Makin9 enquines ol management as lo where they consid8red there was suscgptibility to Iraud. their knowledge of actual, suspected and allegèd fr8LJd', and Considering the intemal controls in place to mitigate risks of fraud and non-compllance with laws and regulations.
GOSFIELD SCHOOL LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GOSFIELD SCHOOL LIMITED To addrèss thè rlsk of fraud through management blas and overrlde of ¢ontrol$, w•.. Pgrformed analybcal procedures lo identify any unusual or unexpected relationships., Tested joumal entries to identify unusual transactions., Revi8w8d the intemal controls in place, specifically around payroll and bank transactions., and Assessed whether judg8rn8nts and asSLlmPtions made in determining the a¢Gountsng esb'rnates were indicative of potential bias. There are inherent limitations in our audit prOdureS described above. The more moVed that laws and regulalons are from financial transactions, the less likely it is that we would become aware ol non.compliance. Auditing standards also limit the audi( procedures require(J lo entify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regul*ory and legal corresponderKe, if any. Material misslalements Ihal arise due to fraud can be harder to detect than those that orise from error as they may nvolve deliberate Corkcement or eo114Jsion. A further description of our responsibilitie5 for the audit of Ihe financial statements is located on the Financlal Reporting Council's website at www.IrG.org.LJklauditorsresponsibilities. This description forms part of our Report of the Auditors. A further doscmplion of our responsibilibes is available on the Financial Rèpo.ng Council's website at.. https'.11 www.ITC.org.uklauditorsr8spon5ibilities. This descriptson form5 part of our auditorfs report. Use ol our rgport Thls report is made solely to the charitys trLJStees. as a body, In accordance with Part 4 of thè Chartties (Accounts and Reports) Regulations 2008. Our 8udit work has been undertaken so that we might 8t8le lo the charity's trustees those matters we are required to state to them in an audittsr's report and for no olher PUTpose. To the full•st extent permitted by law, wo do not accept or assume responsibility to anyone other than th8 charity and the charity's trustees a5 a body, lor our audil work, for this report, orlor the opinions we have formed. Ollver White (Senlor Statutory Audltorl For and on behalf of Affinia Icolchestwl, SlatuloryAuditor Chartered Accountants The Octagon Suite E2 2nd Floor Middleborough CoJ¢hester Essgx C01 1T Date.. Affinia Icolchesterl is eligible for appointment as auditor of the eharfty by virtue of its eligibility for appointment as audStor of a company under section 1212 of the Companies Act 2006. 12-
GOSFIELD SCHOOL LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrestri¢tèd Restrl¢t8d funds funds 2025 2025 Totsl Unrestricted Rèstricted funds lunds 2024 2024 Totsl 2025 2024 Notes Income and endowmonts from: Donation5 and legacies Charitabl8 activitiès InvestTnents Othèr income 106,352 4,852,024 35,199 444,140 292,488 398.840 4.852,024 35,199 444,140 55,657 5,060.576 77,443 466,459 311,218 366.875 S,060,576 77,443 466,459 311,218 5,971,353 5,437,715 292,488 5.730,203 Total income 5,660,135 Expenditure on.. Raising funds Charitable activl(ies 86,023 5,354,920 86,023 5,480,558 96,991 5,555,922 96,991 5,666,558 125,638 110.636 5,566.581 Total expendlture 5,652,913 110,636 5,763,549 5,440.943 125,638 Net incom& and movement in funds 163,622 7,222 200.582 207,804 13,2281 166,850 Recortelllation of funds.. Fund balances at 1 September 2024 15.270.074 524,373 15,794,447 15.266,846 691,223 15,958.069 Fund balances at 31 August 2025 15,266,846 691.223 15,958,069 15,274,068 891.805 16,165,873 The statement of financial activities Includes all gains and lossès Tewgnised in the year. All income and expenditure derive frotll continuing a¢tivities. 13-
GOSFIELD SCHOOL LIMITED BALANCE SHEET AS AT31 AUGUST 2025 2025 2024 Notes Flxed ass•ts Tangible assets 14 20,669,802 20.466.864 Currènt ass•ts Stocks Debtors Cash at bank and in hand 15 16 41,425 1,295,512 1,160,819 63,155 976,867 1,730.650 2,497,756 2,770.672 Creditors: amount5 fallin9 duo wlthin one year 19 15,343,481) 16,329,280) Nèt currnnt liabilitlgs 12.845.725) 13.558,6081 Total as$¢ts l•s$ ¢urr•nt Ilabillti•s 17,824.077 16,908,256 Credltors.. amounts falling du• aftèr mor• than one year 20 11.658.204) 1950,1871 Net •ssèt$ 16,165,873 15,958,069 The funds of Ihe charlty Restricted income funds Unrestricted funds 891,805 15,274,066 691,223 15,266,846 23 16,165.873 15,958,069 The diractors acknowledge therr responsibilities for complying wlh the requirements of the Companies Act 2006 wth respect to accounting records ond the preparation of financial stslernants. Thè financial staternenls w8ra approved by the trustees on .. Mrs K Mak8roff Trustee 14-
GOSFIELD SCHOOL LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Note$ Cash flows from operatin9 activities Gash (absorbed byllgeneTated from operations Interest paid 2,288,039 186,0231 1245,5211 161,9561 Net cash PTovidad by operating activitiès 1307,4771 2,202,016 Investing activitles Purchase of tangible fixed ass8ts Investment incorne ceiVed 1260,7921 77,443 11 $7.816} 10,743 Nèt cash used In investing actlvities 1183,3491 1147,0731 Financlng actl¥itlos Proceeds from new bank108ns Rèpayment of bank loans Paymenl cif Iinance leases obligalions Movèment in amoun15 to GFM Hgldings Ltd 909.000 1797,3341 125,082} 1165,5891 1132.3551 118.0671 150,8691 Net cash u5•d in financing aetlvltles 179,0051 1201,2911 Net Idecreas•llln¢r•ase in cash and cash equovalents 1,853,652 1569.8311 Cash and cash equivalents al beginning of year 1,730.650 {123,0021 Cash and cash equivalents at end of year 1.160,819 1.730,650 15-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 Accountlng pollcles Charlty Infomiatlon Gosfield School Limited is a private company limited by guarantèe incorporated in England and Wales. The registered office is Cul Hed9e Park, Halstead Road, Gosfield, Halstg8d, Essex, C09 1 PF, England. 1.1 Basls of preparation The financial statements have been prepared in accordance with the charlty's goveming document, the Companies Act 2006, FRS 102 "The Financial Rewrting Standard appli¢8b18 in th8 UK and Republic of Ireland" and Ihe Charities SORP 'Accounbng and Reporting by Charib'es.. Statemènt of Recommended Practice applicable to charities preparing thèir accounts in accordance with the Financi81 Reporting Siandard applicable in the UK and Republic of Ireland IFRS 1021.. The charity is a Public B8nefrt Entity as defined by FRS 102. The financial slalements are prepared in sterfing, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the ne8rest £. The financial st8tomènts have been prepared uTrd8r the historical cost cOnventn, modTrled for the valuatIon of the charitsble company's freehold land and buildings. The charitable company h8s revised its fomat of financial activities to iftclude headings which are rèlevant to its activities thus 8n8bling rt to show a true and lair view. Th8 pt1PaI accounling policies adopted are set out below. 1.2 Golng concgrn The Charity meets its day to day working rapital raquirements through an oveTdraft facility and the continuing SUPPDrt of Trndividual Trustees. The Gc)vernors consider the Charity ha5 adequate resources to continue in operalK)n lor at lèast 12 months Irorn the date of approval of the financial 5t8tements and it is appropriate to prepare the financial 5tat•ments on Ihe going concern basis. The financial Statements do not indude any adjustments that would resuk from a withdrawal of the overdraft facility by the Ghariws bankers and support of individual Trustees. 1.3 Charltablg funds Unreslrided funds are available for usè at the discretion of the tNstees in furtherance of their charitBble objectives. Restrlctad funds are subject to Specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notès to the financial stat8ments. 1.4 Income Incom¢ from charltable aCtIvoS School fees consist of charges for the academic year and are accounted for on arl 8ru31$ basis. Fees reeeivabl& and charges lor services and use of premis@s are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, schotarships and other remissDns granted by the school from its unrestrided luncls. Sundry income ¢on$ists of income arising from school activitlgs, exams, fee PTgt8ction and other ancillary income. Thi5 is acwuntad for in the period in which il arises and relates. Donations and legaeig8 For donations to be recognised the Charity will have been notified of the amounts and the settlernenl date in writing. If there aTe conditions attached to the donation and this requires a level of perftsrmance before entitlement can be obtsined then income is deferred until those conditions are fully met or the fUlment of those Gonditions is within the control of the Charity and it is probable that they will be fulfilled. 16-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Icontinuedl Accountlng pollcl•s Ralslng funds Donations received for the general purposes ol the Charity are included as unrestricted funds. DonatlOn5 for activities restricted by the wishes of th8 donor are takèn to restricted funds. where these wishes aTe legally binding on the Govèmors. Donations in Klnd Where non monetary donations are received the58 are recorded in thè accounts at the best estimate of fair value of the goods or service don8ted. The donations are shown und8T Inwming resourc85 from generated funds on ihe Statement ol Financial Activates. Thè costs relaied to such donations are dealt with wthin resources expended. 1.5 Expendlture All expenditure is accounted for on an accTual basis and has been classified under the h8adin9S that aggregate 811 costs related lo that category. Governance cost5 Governance ctssts are the costs as50Clated with the governance arran9ements ol the Charily which relate lo the general running of the Charity as opposed to those costs associaled with fundra151ng or charitable activity. Thi5 includes ¢osts associated with the strategic as opposed to day.to-day management ol the Charitls acliviiies. external audit. and any legal advice for the Governor5 and all the costs of complying with conslitutional and statutory requirement5. Allocation and apportionment of costs Expenditure has been classified under functional headin9S that aggregate all Gost re1aled to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activitie5 on b8sis oonsistènl with the use of resources. The irrecoverable elernent ol VAT is included with the item ol expense to which is relates. Where costs cannot be directly apportioned to particular headings they have been allocated lo activities on a basis consistent with the use of resourTrs. 1.6 Tangible fixèd assets Tangible fixed assets are stated in the balance sheet al cost less depreciation which is provided at the following annual rates in order to writè off the cost 185$ estimated sIdUal value ol each ass8t over its estimated useful Iile. Freehold land and buildings Not depreciated Fixtures and f ttings 20°A p&r annum Motor vehicles 20°/D per annum Freehold land and building5 have been rev8lued tts represent their fair value using the RICS Depreciated Replacement Cost method ol valuation. The Govemors consider that the depreaalion charge and accumulated depreciation on freehold property is immaterial dve to Ihe extended useful lrfe of these assets. These asseis are subject to an annual impairrnent rev18w by the school Governors. 1.7 Stocks stocks are v8lued at the ltswef of cost and net r8alis8ble value, after rllaking due allowance for obsolete and slow moving items. Stocks ara valued on a firsl in first tsut basis. 17-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Aceountlng pollel•s Icontinuedl 1.8 Cash and cash equfvalents Cash at bank and in hand is held to meet 5hort-term cash commitments as they fall due rather than for investment. 1.9 Financial instruments The charity has elected lo apply the provision5 of Section 11 'Basic Finanaal Inslrumenls, of FRS 102 lo all of its financial instmments. Finanryal instruments are recognised in the charity's ba18ne& sheet when the charity becomes party lo the contractual provisions of the instrument. The Charity only have finanry81 ast$ and liabilities of a kind that qualify as basic financial inslrumenls. Baslc finan¢ial instruments are initially recognised at a transaction value and subsequontjy measured at their settlern8nt value. 1.10 Taxatlon The Charity is an exempt Charity within the meaning of schedule 3 of the Charitse5 Act 2011 and is considered to pass the t8st Set out in paragraph 1 Sthedule 6 Finance Act 2010 and therefore it mèèts the definition of a charitsble company for UK corporation tsx purpos8S. 1.11 Retirement beneflts Th8 Charity contributes to the Teachers, Pension Scheme for its ttrathing staff which is a defined benefits pension schème with rates set by the Scherne ActLJary and advised lo the Board by tha Scheme Adrninistralor. Contributions arg charged in the period in which the salaries to which they Telale are payable. The scheme is a multi*mployer pension scheme and it is not Possible to identify the assets and liabilities of the scheme on a constant basis and therefore. as required by FRS102, thè Charity accounts for the scheme as il it were a defined contribution stheme. Th& charilable company also 0rateS iwo defined contribution pension schemes. Contributions for non- teaching staff and for teachers who have opted out of the charitable companW5 defined contribution pension schemes are charged to the Ststement of Financial Activities in the period to which they relate. 1.12 Leases Where assets are financed by leasing agreements that give rights approximating to ownership Inance leasès'l, the assets are treated as if they had been purchased outrtqht. The amount capitalised is t present valve of the minimum lease payments payable during the lease term. The corresponding lÈasin9 commitments a shown as amounts P8yable to the lessor. Depre¢iatK)n on the relevant assets is chargèd to the 5tatemgnl of financial activities. Lease payments aro analysed beeen capttal and Snlerest components so that the interest element of the payment is chaed to the statement of financial activities over the period of the lease and r8pr8sents a constant proportion of the balance of capital repayments outstanding. Thé capital part reduces the amounts Payable to the lessor. 18-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting pollcles (Continued} 1.13 Fund accountlng Unrestricted funds can be used in accordance with thÈ charitsble objectives al the discretion ol the tuslees. Restricted funds Gan only be used for p8rticulaT restrict8d purposes Wlthin the objects of the charity. Restiictions arise when spe¢ified by lh8 donor 01 when funds are raised for pariicular reslriEted purposes. Further explanation ol the nature and purpose of each fund is included in the notes lo the financial statements Donations receiv8d lor the general purposes of the Charity are included as unrestricted funds. Donations for activilies reslrioled by the wishes of the donor are taken to 'Te5tricted funds" wh9re thesè wishes are legally binding on the Govomors. Development costs Developm8nt costs incurred for the purpose of expansion of the school premises are recorded as additions undei assets in the course of Construction. Upon completion, these costs are transferied to freehold property and included within the valuation of the school as 8 whole. The reasons for capitalising and the period ovèr which these 8ssels are written off, is in lie with the Tangible fixed assets policy. 1.14 Trade Debtors Debtors include amounts owed to the Charity for the provision of goods and services or arnounts the Charity has p8id In advanGe foT the goods and services it will rtr¢eive, Trade Crèdltors Cièditor5 are the arnounts owing by the Charity to CTediloTS which are due to be paid wthin their respective time frames from the balance sheet dat8. Crltical accounting estimates and judgements In the application of the charity's accounting policies, the ITUStees are required lo make judgetNents, estimate5 nd assumptions about the rry1Thg amount ol assets and liabilities that are not readily apparenl from other sources. The estimat8s and associated assumption5 are based on histOT5cal experience and other factors that are consid8red to be 181evant. Actual results may differ from Ihese estimates. The estimat8s and underlying assumptions are reviewed on an ongoing basi5. Rèvision5 to accounting estimates ar& Tecognised in the period in which the 9Stimate is revised where the revision atteths only that period. or in the pèriod of the revision and futuré periods where the revision affects both Current and future periods. The estirnates and aswmplions which have a signthcant risk of eausing a material adjustment to the carying value ol assets and liabilities are outlined below.. Crilical Judg¢m•nts Useful economic Ilves of tsnglble fixèd assets The annual depreciation charge for tangible fixed asset5 is sensitive to ch8nges in the estimat8d useful economic lives and residual values of the assets. Useful economic livès and residual value5 are reviewed annually and reassessed wheTe necessary to better reflect actual usage ol the assets involved. Recoverabillty of fee dèbtOT$ The Govemors consider whether fee debts are recoverable. Where th8 is an indication that recovery is unlikely, the amounts Involved are recognised as a provision for bad debt5. This assessment Tequires an estimation of future likely receipts In order to calculai8 the appropriate amount of any provis¢on. 19-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 crftlcal •ecgunting estlmatès and Judg•ments IContlnu•dl The Govemors do not consid8r there to be any significant sources of e5tlrnat1< uncertainty 9iving si9nificant risk of causing a material adjustment to these financial statements. Incomo from donations and legacies Unr•strictèd Restricted funds funds 202S 2025 Total Unre5trict•d Restricted funds funds 2024 2024 Total 2025 2024 Oonations and gifts Donated goods and services 1,496 311,218 312,714 45,738 292,488 338,226 54,161 54.161 60,614 60,614 55,657 311,218 366,875 106.352 292,488 398,840 Ineoma from Gharltable activltias Unr8strlcted funds 202S Unrestrictgd funds 2024 School Fees Gross fèès Total bursaries and allow8n¢es 6.406.648 {1,346,0721 5,870,915 11,018,8g11 5.060.576 4,852.024 Ineome from Investments Unrostrlcted Unrestrlcted funds funds 2025 2024 Rents received Interest receivablg 48,010 29,433 24.456 10.743 77.443 35,199 -20-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 other Income Unrestricted Unrestrlcted funds funds 2025 2024 Olher income Minibus income Income from school shops 100,296 313.921 52,242 119,461 284,658 40,021 466.459 444,140 EXpendIre on raishng funds Unrestricted Unrestricted funds funds 2025 2024 Fundra15ing and publicity Other fundraising costs 96,991 86,023 21
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Expendbture on charltable actlviiles School F••s School F••s 202S 2024 Dir8et C1$ Staff costs Depreciation and impairment Advertising Ovèrhèads Insurance Postage, Stationery & TephOne Teaching Resources Maintenance & Repairs Motor Expenses Subscription5 Legal & Professional fees Leasing Costs Bad & Doubtful Debts Financ8 & IT Purchases Sundries 4,197,569 102,041 44.819 199,124 63.908 26,439 233,911 132.292 82.369 40,424 113,551 82.730 49.510 87.001 164.646 34,724 3,878,675 92,180 60,280 167,163 59,884 34,668 245,724 165,237 139.428 47,144 136,716 57,206 147.815 95,704 133.942 6.292 5.655,058 5,470,058 Shar• of support and govemance ¢osts l$•e notè 91 Support 11,500 10.500 5,666,558 5,480,558 Analysis by fund Unrestricted funds Restricted funds 5,555,922 110,636 5,354,920 125,638 5,666,558 5,480,558 Support costs allocated to aetivitles 2025 2024 Manag8mènt and administration 11.$00 10,500 Analysed between: School Fees 11.500 10.500 -22-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 10 N•t movement in funds 2025 2024 Th8 net moveFn8nt in fund5 15 ststed after ch8rgingllcreditingl: Fees payable for the audtt of the ¢hartys financial statements Depreciation of owned tangible fixed assets Operating lease charges 11,500 102,041 130,914 10,500 92,179 109,371 11 Trustees Trustees expensgs totaling £42012024.. £4501 were pald regarding mileage daims by a Sing tnjstee during the year. The Principal, who is also a trustee, received remuneration lotaling £118,48712024." £174.4301 and employer pension contributions of £30,94512024'. £27.3691. During the year salary payments totslling £84.35912024.. £74,348) were tnade to a number of other scho staff while they were a150 trustees. Relaled pension contributions to these staff were £16,18712024.. £2,205). The Charity's governing do¢ument expressly pemits remuneration to any tTuslee in retum lor servicès rendered to the Company. 12 Employee5 The averag8 monthly number of employees during thè year was: 2025 Number 2024 Number Teachers Administration Learning SUPPOrt Catering Domestic and Laundry Maintgnance and Groundsmen Drivers Nursery assistants 47 12 47 17 Tot81 108 102 Employmènt Costs 2025 2024 Wages and salaries Social security costs Other pension costs 3,354,203 360,952 462.414 3,092.308 297.834 488,533 4,197,569 3,878,675 -23-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 12 Employees Icontlnuedl The number of employees whose annu81 remun8r8tion was mora than £60.000 is as follows.. 2025 Number 2024 Number £60,001- £70,000 £70,001- £80,000 £80,001 - £90,000 £90,001- £100,000 £110.1 - £120,000 £170,001- £180,000 Remungration of key manag•mgnt personnel The remLJnerath)n ol key managernent personnel was as follows.. 2025 2024 Aggregale compensation 591,379 577,617 13 Taxatlon The charity is exempt from laxaliorb on fits 8¢tlvities because all its income is applièd for charftable purposes. 14 Tangible fixèd assèts Freehold land Flxtures and and buildinlls fittings Motor v•hicles Total Cost or valuatlon At 1 Sèptember 2024 Additions 20,151,257 1.267,012 92,245 212.734 76,885 21.495,154 304,979 At 31 August 2025 20,243,502 1,479,746 76,885 21,800.133 Depreciation and impalmi•nt At 1 September 2024 Depreciation charged in the year 965,049 97.271 63,241 4.770 1.028.290 102,041 At 31 August 2025 1,062,320 68.011 1.130.331 Carrying amount At 31 August 2025 20,243,502 417.426 ,874 20,669,802 At 31 August 2024 20,151,257 301.963 13,644 20,466.864 -24-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 14 Tanglblè fixed assets Icontlnuedl The carrying value ol land induded in land and buildings comprises.. 2025 2024 Freehold 4,546,861 4,454.616 The fixed ass&ts a held for charitable purposes. Freehold Properties were revalued in February 2024 with gard to the RICS Depreciated Replacement Cost Method of Valuation by Lambert Smith Hampton. Any increase in Freehold Property value since then is as rèsult ol additions lo the Property. At 31 August 2025. hail the revalued assets been carried at historic cost less accumulated depreciation and accumulated itnpaim)ent losses, th8ir carrying amount would have been approximately £4,546,861 12024 £4,454,616). Th8 Gc>vernors consid8r that the depreciation charge and accumulated depreciation on Freehold Property is Imwnaterial due lo the extended useful economic life ol these assèts. These assets ar8 subject lo an annual impairment review by the School Govemors and no depreciation is char9ed on Freehold Property. 15 Stocks 2025 2024 Finished goods and goods for r8sal8 41,425 63,155 The amount of stock recognised as an expense in thè year was £186,376 12024.. £130,948). The breakdown is as ft)Ilows'. 2025 2024 Opening Stock Purchases losing Stock 63.155 164,646 141,4251 60.161 133.942 163,1551 186,376 130,948 -25-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 16 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other deblor5 Prepayments and accrued income 1.071,161 8,872 215,479 823,148 16,145 137,574 1,295,512 976,8fj7 17 Loans and overdrafts 2025 2024 Bank loans 909,000 797,334 Payable within on8 year Payable after one year 22,240 886,760 732,967 64,367 The bank 108n$ and overdrafts are secured by a debenture and le9 mortgage over all asseis of the cThnpany. The company has one Soan with Barclays Bank. The loan has an interest rat8 of 2.75% per annum above the Bank of England ba58 rate. 18 Flnancè l&ase obli9ation5 Future minimum lease payments due under flnance leases.. 2025 2024 Within onè year Within two and five years 20,737 24,326 13,197 12,761 45,063 25.958 26-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Flnance lea$e obllgatlons (Continuadl Where asset5 are financed by leasing agreements that give rwJhts approximating to ovmership I'finance leases'l. the ass8t5 are treated as il they had been purchased outri9hl. The amount Capitalised is the present value of the minirnum lease payments payable during the lease term. The corresponding leasing commitments are shown as amounts payable lo the lessor. Depreciation on the relevant ass8ts Is charged to thè income and expenditurè acctsunt. Lease payments are analysed between capbtal and interest components so thal Ihe interest elemenl of the payment is charged to the income and 8xpenditure account over the period of the lease and represents a constant proportion of the balance of ¢apital repayments outstanding. The eapital part redueès the amounts payable lo the lessor. The net book value of assets subject to finance leasing arrangements is £75,41812024'. £48,007). All other leases are treated as an operating lease. Thelr annual rentals are chargèd to the incorne and expenditure account on a straight line basis over the term of the leasè. 19 Creditor5.' amounts falllng due within one year 2025 2024 Notes Bank loans Obligations under finance leas8S Other taxation and social security Trade creditors Other creditors Accruals and deferred incorne 17 18 22,240 20,737 471,621 298,756 2,499,478 2,030,649 732,967 13,197 98.431 172,553 2,470,236 2,841,896 5,343,481 6,329.280 Included within tsther creditors is an amount of £1,729,74812024.' £1,895,337) owed to GFM Holdings Ltd, related party. Deferred Incorne relates to income for academic years beyond 2025-26. 20 Creditors.. amounts falling due after more than on• yèar 202S 2024 Notes Bank loans Obligations und8r financè leas6S Auru85s and deletred income 17 18 886.760 24.326 747.118 64.367 12.761 873.059 1,658,204 950.187 -27-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 21 Rtttlrèment benefit schemes Teach•rs' Pènslon Schem• The School participates in the Teachers, Pension SQrne I'the TPS'I for its teaching staff. The TPS is an unfunded fflulti-employer delined benefits pension sche9 governed by the Teachers. Pensions R8gul8tions 2010 and, from 1 April 2014, by the Teachers, Pension Scheme Regulations 2014. Members contribute on a "pay as you go" basls with contributions from rnembers and th¢ employer being credited lo the Ex¢hgquer. R8tirernenl and other pensOn benefits are paid by public ftjnds provided by Padiamenl. Thè employer contribution rate is set follgwng scheme valuations undertaken by the Government Actuarys Dèpartment. The lalest actuarial v8luab.on report in respect of the TPS related to th8 period ended 31 March 2020. This set the conlributs'on rate at 28.68P/o of contributory pay with eff8rt Irorn 1 April 2024. This rate includes the administrative levy of 0.0801¢. Th8 previous contribution rale with effect from 1 September 2019 to 31 March 2024 was 23.68% of contributory pay. including the administrative levy of 0.08%. The pension Chargè for the year includes contributions payable to the TPS of £447,37512024: £466.2981 an¢J al the year end £50,68012024'. £59,428) was accrued in r8spect of contributions to this scheme. A copy of the valuation rèport and supporting documentstion is available from the Teachers. P8nslon websf(e', vA¥w.teacherspensions.co.uklnéwslèmployers120231101valuation-result.aspx. Actuarial valuations are updated every four years. The next valuation 15 expèctèd to bè implemented with Ifect from 1 September 2027. Defined Contributlon Schemes For non-t88ching staff and teachers who havè opted out of the TPS. the school operates tsvo defined contribution schemes. The cost lo the Charity ol contributions to these schemes during the year was £34,988 12024.. £24,201) and at the year end £7,62412024'. £4,5531 was accrued in respect ol contributions. 22 Re$trlcted funds The restncted funds of the charity comprise the unexpended balances ol donations and grants hèld on trust subject to speufic conditions by donors as to how they may be used. At1 September 2024 Incoming resources Rèsourees At 31 Augusl expènded 2025 691,223 311.218 1110,636) 891,805 Pr8vSous year: At1 September 2023 Incoming resources R•sources At 31 August èxpènded 2024 524.373 292,488 1125,638) 691,223 -28-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 23 Unrestricted fut)ds The general fund represents the unrestrict8d funds which the Governors are free to us# In accordance wth the charities objectives. The School development fund is fundèd via a payment rnade by parents. The fund5 assists the school to continue to invest in ongoing developments to ensure Ihat the very best learning enwronment Is Provided to the pupils. During the ye8r the income received from the School development fund has been used in the general maintenance of the school facilities and the development of thè Performing Arts Centre. At1 Resources At 31 August Sept8mber 8xpended 2025 2024 Incomlng resourcès General fund5 15,266,846 5.660,135 15.652,9131 15.274,068 Previou5 year= Incoming resources Resources At 31 August expended 2024 September 2023 General funds 15,270,074 5,437,715 15,440,943) 15,266,846 24 Analysis of net assets botwegn funds Unrestricted funds 2025 Re5trlcted funds 2025 Total 2025 At 31 August 2025: Tangible assets Current assetsllliabilitiesl Long term liabilities 20,145.430 13,213,158) 11,658,204) 524,372 367,433 20,669,802 12,845,725) 11,658.2041 15,274.068 891,805 16,165.873 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 August 2024- Tangible assets Current assetsllliabiliLiesl Long term Itabilities 19,942.492 13,725,459) 1950,1871 524,372 166,851 2(),466,864 13,558.6081 1950,1871 15,266,846 691,223 15,958,069
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 25 Oper*lng lease commltm•nts Lessee At the reporting end date the charity had outstanding commitnntS ftsr fLrture minimum lease payments under nori-cancellablg Qpgrating leases. which fall due as follows.. 2025 2024 Within one year Between two and yaars 116,981 332,738 109,279 187,669 449,719 296,948 26 Capital commitments Amounts conlraded for but not provided in the finana81 statements.. 2025 2024 Acquisition of property. plant and equiprnent 69,784 27 Relatsd party transactions Where a governor has a child attending the school the full le8 rates are pa, subjed to any scholahIpS. bursaries and other discounts which are awarded on the same basis as they are to othÈr families. Some Governors with childT8n in attendance have paid fees in advance, under the same tems offèrèd to other Transactlons wlth related parties During the year GFM Holdings Limited, a company in which a Governor is a director. provided interest free loan finanTr to enable the Company to meet its day to day financial requirements. The loan balance as at 31 August 25 amounted to £1.729.74812024= £1,895,337). Thtr is no fixed repayment schedule. GFM Holding5 Limited provided servi¢e5 to the school without charge. These services had an estimatèd monetary value of £54,16112024.' £60,61418nd relate to financial managemant, l.T. services, and design and marketing support. During the yeaT ended 31 August 2024. thè School purchased sportswear and sport equipment from Pitch Int Llmited, a company in which a Governor is a director, with a total value of £9,943. 30-
GOSFIELD SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 28 Ultimate controlling party Throughout the year, the company was controlled by tho Govemors. 29 Mèmbors guarantee Gosfield School Limited is a chariiable company limited by guarantee. The guarantee (>f each membèr (Director) is limited to £1 30 Cash labsorbed byllgenerated from optrations 2025 2024 Surplus for the year 207,804 163.623 Adju5tment$ lor= Investment income recognised in statement of financial activities Rental in¢om• DgprgGiation and impairment of tangible fixed assets 129.4331 148.0101 102,041 110.7431 124.4561 92,180 Movements in working capilal= Decreasellincreasel in stocks Ilncreasel in debtors IDecreaseyincTease in credittsrs 21,730 1318,6431 1408,5531 12,9941 118,6681 1,978,618 Cash labsorb9d byllgeneratsd from operations 1473,064} 2.177.560 31 Analysos of changes in nèt funds At 1 sePtber 2024 Cash flows At 31 August 2025 Cash at bank and in hand 1,730.650 1569,8311 1.160,819 Loans falling due within one year Loans falling due after more than one year Obligations under finance188ses 1732.9671 164.3671 125.9581 710,727 1822.3931 119,1051 122,2401 1886,760} 145,0631 907,358 1700,6021 206,756 31