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2025-08-31-accounts

Charity number 311073

ST EDMUND'S COLLEGE

GOVERNORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

ST EDMUND’S COLLEGE

CONTENTS

pages
Reference and Administrative Details of the Charity, its Trustees and Advisors 1 - 2
Governors' Report 3 - 17
Independent Auditors’ Report 18 - 21
Consolidated Statement of Financial Activities 22
Consolidated Balance Sheet 23
Consolidated Statement of Cashflows 24
Notes to the Financial Statements 25 - 41

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COLLEGE, ITS TRUSTEE AND ADVISORS FOR THE YEAR ENDED 31 AUGUST 2025

Trustees

The Archbishop of Westminster and the Trustees of the Archdiocese of Westminster

President and Patron

His Eminence Cardinal Vincent Nichols, Archbishop of Westminster

Governors

Chair Revd Deacon Paul Raynes MA (Cantab) E F M P Deputy Chair Mrs Jane Ranzetta, BA Hons, PGCE E P Members of the Governing Body Mr John Bryant, BA F P Mr Stephen Grounds BSc, DPhil E P Revd Fr Alban McCoy, OFM Conv, BA, MLitt M Dr Veronica Fulton FCA MA DSG M F Revd Deacon David Curtis, MA, FIA F P Revd Dr Michael O’Boy, BA, Phd, STB, M.Th, SLT E Sister Jane Livesey, CJ, MA (Cantab) E M Mr Taymen Sargusingh BSc, appointed 21 March 2025 F M Mr Howard Trust MA (Cantab); appointed on 21[st] March 2025 F

E Education Sub Committee member F Finance Sub Committee member M PR and Marketing Sub Committee member P Prep School Sub Committee member

During the year the activities of the Governing Body are carried out through four sub-committees. The membership of these sub-committees is shown above for each Governor.

In addition, nominated Governors have special responsibility for oversight of particular aspects of College life, these are:

Governor with responsibility for overseeing Safeguarding: Mrs J Ranzetta Governor with responsibility for overseeing EYFS Mrs J Ranzetta Governor with responsibility for overseeing Health and Safety: Mr S Grounds Link Governor for RE and Catholic life: Mrs J Ranzetta Link Governor for the Prep School: Mr J Bryant

Charity registered number

311073

Principal address and registered office

St Edmund’s College, Old Hall Green, Ware, Hertfordshire, SG11 1DS

Key Management

Mr. M. Mostyn BA (Hons), MA (Ed) Headmaster Mr. S.A. Cartwright BSc Head of Prep School Mr. P.D. Watkinson MBA, BSc (Hons) Bursar Mrs S. L. Sanders BA (Hons) PGCE (Cantab) Deputy Head Academic Mr. C. Upton BA (Hons) PGCE PGDM Deputy Head Pastoral

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REFERENCE AND ADMINISTRATIVE DETAILS OF THE COLLEGE, ITS TRUSTEE AND ADVISORS FOR THE YEAR ENDED 31 AUGUST 2025

Advisors

Bankers

National Westminster Bank Plc, 104 Fore Street, Hertford, Hertfordshire, SG14 1AE

Solicitors

The College engages a number of solicitors according to their specialist expertise:

CMS Cameron McKenna, Mitre House, 160 Aldersgate Street, London, EC1A 400 Veale Wasbrough Vizards, Orchard Court, Orchard Lane, Bristol, BS1 5WS Stone King, Thirty Station Road, Cambridge, CB1 2RE

Auditors

Moore Kingston Smith LLP, 9 Appold St, London , EC2A 2AP

Architects, Quantity Surveyors and Conservation Consultants

Nick Baker Architects, 6 Baker’s Yard, London EC1R 3DD Lytle Associates, The Fountain Head, Quarry Street, Guildford, Surrey, GU1 3UY Andrew Morton Associates Ltd, The maltings, Malthouse Farm, Oulton, Norfolk, NR11 6AF Beams Ltd, The Castle, Hertford, Herts SG14 1HR

Insurance Brokers

Marsh Insurance Brokers, Rockwood House, 9-17 Perrymount Road, Haywards Heath, East Sussex, RH16 1TA

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Governors of St Edmund’s College are pleased to present the annual report together with the audited financial statements for the charity for the year ended 31 August 2025. The Governors confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS102) (effective October 2019).

St Edmund’s College is a registered unincorporated charity, number 311073. The College has a wholly owned trading subsidiary, Old Hall Enterprises Ltd registered in England and Wales, company number 01889064.

The Governors have formed a company limited by guarantee called St Edmund’s College, which is registered in England and Wales number 10233436 and has charitable status (registered charity number 1168580). This company was dormant throughout the whole of the financial year. The Governors are planning to merge this charity with the newly formed charity once all necessary and appropriate measures are complete. Work on this will continue throughout the next academic year.

Objects, Aims, Objectives and Activities Charitable Objects

The Trust Deed of 1921 sets out the Charitable objects as follows:

A secondary or higher Roman Catholic school or schools or Colleges for the study of philosophy, theology or the allied subjects, during such period or periods whether continuous or discontinuous and for such other Roman Catholic educational or charitable purposes as the Trustees shall in their discretion from time to time think fit.

The Board of Governors further defines the charity’s purpose through the mission statement and objects.

In setting objectives and planning for activities, the Governors have given due consideration to general guidance published by the Charity Commission relating to public benefit.

Mission Statement

Rooted in Christ and Catholic tradition and under the guidance of its patron, St Edmund’s aims to realise the Godgiven potential, in body, mind and spirit, of all members of its community through service and leadership. Avita Pro Fide. For the Faith of our Fathers.

Objects

The object of the charity is to provide education for boarding and day boys and girls, aged 3 to 18 years, in accordance with the principles of the Roman Catholic Church. St Edmund’s strives to:

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

St Edmund’s is a college for everyone who appreciates the value of a Catholic education. Whilst we welcome students whatever their belief, the Catholic approach to education, with its distinctive ethos, remains at the heart of all we do. The full flowering of the spiritual, intellectual, physical and emotional elements of education is our aim. This key principle of Catholic education underpins what we provide in all our practical, sporting, artistic and academic subjects and activities.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Strategies to achieve objectives

In the light of the mission statement, the curriculum that the College provides will be:

St Edmund’s will provide a broad, balanced and relevant curriculum which:

At St Edmund’s Prep School the curriculum goes far beyond the legally required elements of the EYFS (Early Years Foundation Stage) and National Curriculum documentation and involves the rich fabric of creative, cultural, sporting and intellectual opportunities. A wide range of teaching styles allows every child to access the curriculum to ensure they receive experiences and opportunities and develop their knowledge, skills and attributes in ways that will mean learning is relevant and interesting. Our curriculum is constantly evolving to ensure that we are responding to a rapidly developing world around us and that we are offering our children the best start to their education.

We plan our curriculum in three phases and we agree a long-term plan for each stage. This indicates what topics are to be taught in each term, and to which groups of children. We review this long-term plan on an annual basis. Through our medium-term plans we give clear guidance on the objectives and teaching strategies for each curriculum area. We have adopted the New National Curriculum Literacy and Numeracy Frameworks for our school. We also use national schemes of work for much of our medium-term planning in the other subjects. Some Schemes of work are supplemented with materials or based on materials common to an Independent School setting to enable appropriate preparation for Common Entrance Exams or agreed by the Diocese of Westminster.

We follow the EYFS Curriculum and use a Personal Learning Journey to record our observations and monitor the progress of every child. Nursery and Reception classes work closely as an early years unit, passing on information to ensure differentiated planning and learning for each unique child. Both indoor and outdoor learning environments are equally incorporated into the planning of all areas of the curriculum. Parents are seen as “partners” in their children’s learning and included daily to ensure the maximum benefit for the child. Specialist teachers are used for Forest School, swimming, music, French and dance.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Principal Activity

The demand for places at the College and Prep remains reasonable given the adverse headwinds that the sector faces. In total there were an average of 804 pupils throughout the year; 154 pupils in the Prep School and a total of 650 in the College with 566-day students and 84 full or weekly boarders. The Open Days and tours have been very well received by all those interested in joining the College. The College is at capacity in some year groups but not in all. The success is attributable to the nature and ethos of the College, providing an environment where students will feel safe and valued, be stretched and supported in their academic development and offering a wealth of opportunities outside the classroom, all within the context of a clear and humane moral framework.

Public Benefit and Charity

St Edmund’s aims to increase the number of families who have access to the education that it provides through the provision of financial help in the form of scholarships and bursaries. Through our annual scholarship programme we seek to encourage children with academic, sporting, artistic, musical and 'all round' abilities to attend the College and Prep. The Governors of St Edmund’s College are committed to broadening access to the College by offering to eligible parents/guardians means-tested financial support with the payment of school fees. These bursary awards can be up to 100% of tuition fees payable, depending on the financial, compassionate or other pertinent circumstances of applicants. A total of 148 students (last year 148) benefitted from the scholarship and bursary programmes.

St Edmund’s College and Prep School have a long-established tradition of helping those in need, whether through the October Fast Day economy lunch or through a vast array of activities during Charity week. The College and Prep School adopt different Charities each year and the students use all their talent, humour, ingenuity and business acumen to raise lots of money and have a huge amount of fun, whilst at the same time being reminded that the College is part of a local, national and international community, often with genuine needs to be met. Students who wish to become more involved in the charity work of the College can join the Edmund Rich Society, which seeks to educate other students about issues of justice and peace, through assemblies, displays and running the Fairtrade shop.

STRATEGIC REPORT

Review of Achievements and Performance for the year.

St Edmund’s is a Catholic school in Hertfordshire steeped in history, having been founded in 1568 by Cardinal William Allen, and is the oldest Catholic School in England. The school has a strong Catholic ethos based on four key principles: Christ Centred Education, Scholarship of St Edmund, Education for the whole person and Home and the wider community. St Edmund’s is a community that values both academic excellence and the achievement of one’s personal best, right through from our Prep School to Sixth Form and beyond.

Academic Achievements

Summary of A Level grades 2025: A – A grades – 38.6% A – B grades – 68% A – C grades – 88.3% A – E grades – 99.5%

These were amongst our very best A Levels ever. Pupils found success in a wide range of subjects and gained access to many prestigious university destinations which this year include Cambridge, Durham, Warwick, Kings College London and Edinburgh as well as many other Russell Group universities and American universities such as the highly competitive Cornell University. This year’s leavers head off to read amongst other subjects Law, Engineering, Medicine, International Relations, Natural Sciences, English Literature. In addition, pupils have been offered competitive Degree Apprenticeships such as with Amazon.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Summary of GCSE grades 2025:

9 - 8 grades – 33.6% 9 - 7 grades – 51.4% 9 - 6 grades – 72.9% 9 - 5 grades – 85.2% 9 - 4 grades – 93.5%

These were the best GCSE results for the College, excluding teacher assessment grades and calculated assessment grades.

Religious Life

On the day before term began all new students attended a service of welcome with their parents. The House Captains played an important part in the service by reading their House Prayers and offering all new students a crucifix. On the first day of term the whole school gathered together for a Mass of the Holy Spirit to invoke God’s blessing on the new school year. The Prefects commissioning service took place on the first Friday of term and the Prefects were commissioned as servant leaders. They signed the Prefects book and were given their Prefects ties/ badges. The Scholars service took place at the end of the second week of term. Scholars and their families attended a service reflecting on their God given talents, thanking God for them and promising to make good use of them. Every 2 years the College produces House Prayer books. Each member of the House writes a prayer, and it is placed into the House prayer book to be used in House Assemblies.

Fairtrade fortnight

This has moved to September. We held a Fairtade quiz which was open to all students with the lucky winners receiving Fairtrade chocolate and a Fairtrade keyring. The Faith in Action group led on this, dressed of course in their banana suits.

CAFOD and the foodbank.

Students paid £3 on CAFOD fast day to wear their own clothes and all except for a dozen opted for the economy lunch. We raised just over £2000. The Foodbank Collection went to Hertford Food Bank. Our donation weighed 975KG

Retreats

The Elements retreat was held in September. The focus was on being chosen by God and being part of the Edmundian community. The day went well with times of quiet prayer, craft activities and a complicated Bible Escape Room which involved solving ciphers. The winning group received William Rabbit key rings.

Syntax/ Poetry retreats were led by the Mark 10 Mission team. The students reflected on identity. A Franciscan Friar of Renewal was part of the team which allowed the students to ask lots of questions about his life and the choices he had made.

For Rhetoric Sr Gemma Simmonds spoke to the students and helped them understand the examen. Grammar had a visit from the RISE theatre group which explored who we are and who God has created us to be. The students followed the story of Daniel Jones, as he navigated his way through a captivating gameshow. There were a couple of breakout sessions.

The Rosary

On 18th October we joined the “One Million Children Praying the Rosary” prayer campaign, for peace in the world, organised by ACN. Around 100 students said a decade of the rosary in their RE classes.

In October a small group of staff and students led a decade of the rosary on Fridays in the Ave. There was no shortage of students volunteering to lead which was wonderful to see.

Faith in Action.

This year there are 10 students in the Faith In Action group. 2 - Gold, 6- Silver and 2 - Bronze.

Faith in Action took part in a virtual pilgrimage. We followed the “Jesus Trail” which took us on a 39mile (63km) route from Nazareth to Capernaum, along the stunning coast of the Sea of Galilee. This historical route is said to be the path that Jesus took during his ministry.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Community Service

We now have 4 groups of students who visit the Care homes each week to chat with residents. Many of these residents will come to our annual Christmas Party.

Red Wednesday

Due to our continued commitment to ACN we have been invited to become a membership school. On Red Wednesday all students watched a PowerPoint (we are in one of the slides). They then wrote either a message of support or a Prayer for those facing religious persecution. These messages were displayed in the Ambulacrum.

The Holy Souls

Later in November we held the annual blessing of the graves service in the graveyard outside the chapel. All students were given the opportunity to write down the names of deceased family and friends and these names have been placed on the High Altar.

Michaelmas Term ended with our party for the senior citizens. We hosted around 150 guests. This year we also had some guests from the local community with learning difficulties. It was a lovely event. The entertainment was great and included the CCF drummers who gave a stunning performance. Thanks to the generosity of the parents and students all guests left with a bag of Christmas presents.

The College entered the annual Christmas card competition run by the diocese. One of our Ukrainian refugees came first overall who is a very talented artist.

In January the College held our 11th annual sleepout for the homeless. 67 students took part in a variety of activities throughout the evening. Some thoughtful reflections and prayers were written by the students and £1200 was raised for “Vinnie Packs”.

The College marked Holocaust memorial day. FIA students organised a display and students were able to commit to working towards a better future for all people. It is 80 years since the liberation of Auschwitz and therefore we had 80 purple candles for the students to light and spend a few moments in prayer.

Rudiments had a day retreat run by RISE, its theme was what gives us true happiness. It was a successful day, and we received positive feedback from students and staff.

The Good News for Everyone organisation visited Elements and Rudiments to talk about the Bible. Each student was then offered a small copy of the New Testament.

Charity Week

Our chosen charity was Mary’s Meals. On 10th March a representative from the charity came to speak to the students. Our main fundraising week is 17th-21st March, although there are also some events outside this time. Linking to the Jubilee theme we held a 10-hour continuous reading of the Gospels and Acts. Staff and students signed up for 15-minute slots and students and families were encouraged to donate via the Just Giving page. During charity week we had lots of events. Soak the prefect, cake and pizza sales, the colour run, sports competitions and a Talent show. Nastja produced a book which we sold, illustrating her experiences as a Ukrainian refugee. We raised a total of £13,450.

At the start of the Trinity term all students sitting public exams were offered an exam prayer card to keep with them.

Rhetoric 2 had their leavers Mass celebrating their time in the College and Fr Peter spoke about Catholic education, the centrality of the Eucharist, the place of the College in the life of the Church and urged them to continue to be inspired by these teachings as they leave the College. They were all given a copy of the History of the College signed by staff.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Sport

Sport was a real highlight for St Edmund's College this year, with significant success on and off the field of play. PE and Games continues to be an integral part of our co-curricular offering as well as a key component of our mission to educate the whole person, mind, body, and spirit. The PE and Games department has built on the strategic direction of 'Play More, Play Better' to create an inspirational learning experience promoting health and wellbeing through inclusive sport and physical activity for all, while nurturing those striving for sporting excellence. We are dedicated to fostering talent and enhancing natural ability, and we inspire all our young athletes to strive boldly for personal growth and athletic excellence.

St Edmund's College was recognised by School Sport Magazine as being one of the top 200 schools in the country for sport. This is in no small part due to the diverse range of main sports (hockey, rugby, football, netball, athletics, cricket, and tennis), alongside a varied Physical Education (PE) curriculum and extensive co-curricular activities. Pupils are therefore exposed to a wide range of sports, including basketball, badminton, golf, lacrosse, table tennis, handball, padel, cardiovascular fitness, strength & conditioning, and swimming. This also translates into pride for the college and the desire to represent the school, as over 82% of students played a competitive match for the school this year.

It was an exciting year of sports and physical education at the College, with our U15 boys winning the Independent Schools Football Association (ISFA) shield competition and our U13s narrowly losing in a semi-final of the same competition. We also made significant strides in athletics, with both boys' and girls' U13 and U15 groups competing in the regional round of the English Schools championships. Our increased fixture list across our main sports also enables the College to host several sporting events, e.g., rugby and hockey festivals, as well as the district cross-country finals.

The Prep School children were offered extensive opportunities to represent the school in the main sports of football, netball, hockey, rugby, and cricket. The Prep also encouraged a “sport for all policy” through a new breakfast club programme (hockey, tennis, and football) while A-teams were selected to be competitive, B and C teams were chosen to encourage participation from a wider range of children. The school day was enhanced by opportunities for the children to take part in lunchtime clubs and after-school sports activities, while there was also a squad practice for the older children.

As we reflect on this remarkable year, it is clear that St Edmund’s College continues to cultivate not only outstanding athletes but also confident, resilient, and inspired young people. Every triumph on the field, every personal milestone achieved in PE lessons, and every moment of participation across our vibrant co-curricular programme embody our vision of ‘Play More, Play Better.’ From the Prep School playground to the College’s highest competitive stages, our students have embraced the joy, discipline, and camaraderie that sport brings, setting new standards of excellence and well-being. Together, we celebrate a year of shared achievement, growth, and aspiration, and look forward to continuing to inspire every Edmundian to play boldly, strive relentlessly, and reach their fullest potential—both on the field and beyond.

Performing Arts Music

The College embraces a “Music for All” philosophy, ensuring that every pupil, in every year group, has the opportunity to develop the interrelated skills of performing, listening, and composing. Across the year there were over 25 concerts in which pupils could take part a record number of performances. This year also saw the launch of the St. Edmund’s Musician of the Year and a string project in the prep.

Academic music lessons are held weekly for all pupils from Elements to Grammar, providing a strong foundation in musical knowledge and practical skill. This grounding ensures that those who choose to study GCSE Music in Syntax are thoroughly prepared for examination in Poetry. The A Level course continues this progression, offering an exciting blend of academic study and high-level performance. Recent highlights include one A Level student, currently working towards her LCSM Diploma, performing at a recital in Standon Church. Over the past year, two pupils have successfully completed diploma examinations, with three more preparing to do so in the coming months.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

A dedicated team of 20 Visiting Music Teachers delivers around 350 instrumental and vocal lessons each week. Pupils are encouraged to perform regularly in informal concerts, recitals, and classroom showcases. In addition, nearly 100 LAMDA lessons take place weekly, enriching pupils’ confidence and performance skills.

The Schola Cantorum , our large school choir, is open to all year groups. Over the past year, Schola has performed at a variety of college and community events, including school services, the Scholars’ Service, St Edmund’s Day celebrations, the St Edmund’s Sunday Mass, Remembrance Day, College Carol Services, the Jazz and Pop Concert, and the Hertford Parish Church Faure Requiem . They also appeared at the Buntingford Live Festival.

The College Orchestra, Jazz Band, Schola, and numerous soloists have showcased their talents in a wide range of concerts and community events. These included twelve Rush Hour Concerts (involving over 80 pupils), three Music Scholar Concerts , a String Concert , and dedicated Guitar and Drums evenings, as well as recitals in Standon, Buntingford, Westmill, Knebworth, and Hertford. Many of these performances attracted full audiences and helped raise funds for local charities and churches, with the Jazz and Pop Concert alone contributing over £1,000 to the College charity. Pupils also generously gave their time to entertain residents at a local retirement home at the end of term.

Two major concerts were staged during the Michaelmas and Trinity terms. The first featured Rutter’s Requiem , alongside orchestral works and concertos that provided soloists the opportunity to perform alongside professional musicians. In the Trinity term, the College hosted its second annual Pop and Jazz concert, celebrating the talents of non-classical musicians and encouraging collaboration across musical genres. The concert featured ensembles, Junior and Senior Jazz Bands, Rock Band, duos, and solo performers, offering a vibrant conclusion to the musical year.

There have been 17 Rush Hour Concerts this year, and the pupils have continued to excel and grow through this opportunity for regular playing. They were initially launched as a platform for pupils to trial new repertoire, learn about performing or prepare ahead of upcoming exams but they now form a central performance platform for all pupils throughout the term. We have seen a wide range of genres, pupils on differing parts of their musical journey as well as so many pupils who don’t learn at school or teach themselves have come forward to experience performing to a welcoming and encouraging audience. It is the school community at its best, supportive, encouraging coupled with a yearning for personal growth. The concerts this term have truly been exceptional, highlighting the many talents that our students possess. The performances have displayed a diverse range of skills and musical styles, captivated our audiences and demonstrated the dedication and passion of our young musicians. It is the perfect way to end the day for all who witnessed these events.

From 25th-29th of November, St Edmund’s held its first large scale music competition. Over seven successive heats, musicians performed to a panel of judges. Although a competition, the pupils supported and encouraged each other, and the feeling was more of a celebratory festival as opposed to an X-factor style event. From pupils who had only been learning for six weeks to seasoned performers on the higher grades, every students gave their best and exceeded expectations.

We were also delighted that the College Orchestra once again performed at the Senior Citizens’ Christmas Party, where guests joined in singing carols and enjoyed solo performances from pupils.

The College is proud to serve as an examination centre for ABRSM, Trinity, LAMDA and LCM. Last year, the College hosted three ABRSM exam visits, two LAMDA visits and one LCM, providing pupils with convenient access to these prestigious qualifications on site. Pupils have also taken online theory exams and submitted performances for online examination.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Musical Theatre

Our musical theatre and stagecraft provision has grown over the last two years. Regular dance classes have been integrated into our P7 programme and pupils now have the opportunity of arranging one to one private lessons within the school day. Choral singing and stage craft skills have been added to our Bounds P7 rotation on Wednesday afternoons and are giving the youngest pupils the opportunity to sing and perform publicly and in front of an audience. Our musical theatre production of ' Fiddler on the Roof’ was an incredible success with nearly fifty students bringing to life this powerful story set in a Jewish village in Tzarist Russia in the early 20th century. Performing to delighted audiences in the Douay Hall, the cast excelled themselves with their poignant performances, beautiful singing and exuberant dancing. One student joined the professional orchestra on stage as our flutist, one designed and painted the artwork for our backdrop projections and publicity, another operated the lights while others painted and organised props. It was a triumph for all involved and a truly collective effort. The piece will leave lasting memories, not least in its reminders about the cost of hatred and persecution of a people.

Boarding

We are pleased that all the repair work following the flood in the boarding house in 2024 has now been completed along with a facelift to the windows on the front and east side of the boarding accommodation. Internally, we spent much on soft furnishings and pictures predominantly for the boys' corridors, whilst also collecting memorabilia of the College and Boarding to add character and foster connectivity to the past. Our student numbers have remained fairly stable compared to those at the end of the Summer Term, although the trend of attracting short term boarders seems to be continuing. We are also seeing more students joining us in Rhetoric and fewer into the lower years. The HOB is working even closer with the Admissions and Marketing Team in an effort to increase recruitment. Our staffing, although slightly different in personnel, is stable and sufficient and we are lucky to have quite a number who now have plenty of experience in this area.

Co-Curricular

The Co-curriculum is a major element of our distinctiveness here at St Edmund’s College one that brings intrinsic value to both our pupils and our community. We offer a unique and diverse array of Co-curricular Activities (CCA) that are an integral part of our educational approach and central to our commitment to develop the “whole person”, mind, body, and spirit. As such they are an integral part of our curriculum and not optional.

The Period 7 programme takes place each day following academic lessons. It gives pupils the opportunity to develop new interests in a wide variety of clubs and societies, focussing on physical activity, creativity, service leadership and social responsibility and skills for life. Enrichment week takes place at the end of the school year and provides further opportunities for experiential learning. Recent residential trips include destinations like Costa Rica, Austria and Paris. Local day trips are also offered and can be of either an educational nature or one aimed towards more physical activity and teamwork. College based pursuits provide a different, yet equally valuable experience and past activities have included Sports Coaching qualifications, TEFL qualifications, theatre visits into London or a day of teamwork challenges run by the Problem-Solving Company.

Pupils compete both locally and nationally in the College’s major sports including rugby, football, hockey, netball, basketball, golf, tennis and swimming. The Drama department offers training in musical theatre, dance and acting and culminates with The College production at the end of the Lent Term. There are huge opportunities within the Music department, ranging from schola to sinfonietta, chamber ensembles to music theatre, rock, and jazz groups and each term is celebrated by a major, whole school concert such as Verdi's Requiem. The Combined Cadet Force (CCF) and the Duke of Edinburgh’s Award provide a chance to undertake Service and Leadership. Most expeditions in the D of E Award head off to more remote areas of the UK including the Brecon Beacons and Peak District National Parks. Within the CCF, weekly training has a full and varied programme including weapon training, range shooting, field craft and instructional training. Cadets from both sections enjoy a week of adventurous training in the Brecon Beacons and in the summer holidays, they both hold an Annual Camp usually held at a local military base.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Fundraising

The College benefitted from donation income totaling £101K in the financial year.

St Edmund’s does not currently employ any third party to raise funds on its behalf. Fundraising activities include invitation to specific College organised events, some of which (such as the annual ball) may require the purchase of a ticket, or infrequent mailshots. All fundraising is directly aimed and targeted at current or past parents and alumni of the College who have given express written permission to be contacted by the College from time to time. Proceeds from fundraising are used to improve the College facilities or in accordance with the specific wishes of the donors.

Summer School

In the 2025 Summer School there were 163 students enrolled over the two 3-week courses, 71 and 92 respectively. These students were from 23 different countries. Once again demand from China was high, along with Spain. The breadth of international mix needs to be maintained as parents and agents are sensitive to any noticeable imbalance.

Numbers were significantly down on previous years for two main reasons: poor feedback from 2023/24 and uncertain world economic conditions. 2025 was about rebuilding the Summer School’s reputation. This was to be done by returning to two 3-week schools, with well organized activities, trips and boarding along with robust teaching. There were 3 academic trips (Cambridge, Thames River trip, Windsor Castle) and 3 social trips (Harry Potter World, Thorpe Park, Colchester Zoo) along with various evening on-site and off-site activities. Both schools had students going to Cambridge to sit IELTs and Cambridge language examinations.

It was imperative that the prospectus details were delivered – trip destinations, 24-hour Health Centre and better food. All were delivered. Agent and student feedback was very positive.

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GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Financial Review

Results for the Year

The results for the year are detailed in the attached Financial Statements

The College reported overall net income (before actuarial and investment losses) of £46k (last year net income £835k). The net income is inclusive of donation income of £101K (2024 £103k).

Income from charitable activities totaled £17,726k (2024 £18,948k). The decrease in income was attributable in part to reduced pupil numbers and an increase in bursaries, grants and allowances being £344k more than last year.

The College ran its annual Summer School in year which led to income of £722k, a decrease of £357k due to reduced pupil numbers.

Expenditure on Charitable Activities of £18,276k was £246k lower than last year’s spend of £18,522k. Direct charitable expenditure was £5,600k a net decrease of £163k on the previous year. Costs have been managed despite higher than average inflationary increases in year and the abolishment of business rate relief. Salaries, national insurance and pension costs decreased by £19k to £12,326k. Despite increases in employer national insurance contributions and the national living wage, the level of staff costs have been maintained by efficiency management.

The College displays a healthy Balance Sheet position at the year end. The current liabilities are those amounts that need to be paid in the next twelve months. Current assets include the cash and other assets that are available to settle those current liabilities. At 31[st] August 2025 the College’s current assets less current liabilities (net current assets or working capital) totaled £3m (2024 £5.7m), the reduction being as a result of funds being invested and reflected in the 2m increase in investments held on the Balance Sheet.

Principal Risks and Uncertainties

The Governors have ultimate responsibility for managing any risks faced by the charity. The Governors consider the economic turbulence of recent years and the affordability of fees by parents across the independent sector to be the principal risk faced by the College. More recently the changes in legislation imposed by the Government on the sector such as the introduction of VAT on fees and the loss of business rate relief present challenges, together with the increase in employer’s national insurance which will adversely effect future cashflows. To mitigate this when the Governors undertake their annual review of fees they consider the question of affordability and the fees are set with consideration of inflation indices, exchange rates and the College’s position and overall offering in the market in which it operates.

Another significant risk is loss of the whole site or buildings, boarding accommodation or classroom facilities arising from fire or other catastrophic events. To mitigate the risks fire risk assessments are in place, together with an appropriate level of insurance cover which are reviewed annually by the Governors. The College maintains and regularly reviews its disaster recovery plan.

Proactive Health and Safety awareness is a significant contributor to management of risks. For example, pretrip site visits by the organiser and risk assessments are undertaken and parents briefed prior to a trip departure. The level and breadth of activity at the College is impressive and the risks associated with all activities are minimised by thorough planning and a comprehensive risk assessment process. Governors receive regular health and safety reports.

Detailed consideration of the risks is delegated to the relevant Governors’ Sub-committee which in turn reports formally to the Full Governing Board each term. The risk management process identifies risks, assesses the impact and likelihood and recommends appropriate controls to mitigate and monitor those risks. The Governors are satisfied that all material operational risks are regularly discussed and properly addressed. In the opinion of the Governors the College has established systems of internal controls and other means which, under normal conditions, should allow risks to be managed in its day-to-day operations. The day-to-day running of the College is delegated to the Headmaster, the Head of the Prep School and the Bursar, who are supported by the Senior Leadership Team.

13

GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The key controls used by the College include:

The Governors regularly review the effectiveness of current plans and strategies for managing all identified major risks for the College.

Reserves Level, Financial Viability and Going Concern

The Governors have continued to review the level of reserves of the College during the year.

The free reserves of the College are represented by the unrestricted general fund. This excludes Restricted Funds which are utilised by the College in accordance with the wishes of the original donors and Endowed Funds and these are detailed in note 20 to the accounts. The Capital Reserve is a fund that has been designated by the Governors corresponding to the net book value of the property assets of the College held at the balance sheet date. A transfer is made as necessary from the General Reserve to the Capital Reserve as funds are expended on property additions and improvements. Any remaining surplus is retained in the General Reserve.

An appropriate level of reserves underlies the forecasts and cash flow projections that are used by the Governors to confirm that St Edmund’s College is a going concern and can meet its liabilities as they arise. The Governors consider that it is appropriate to hold three months of planned expenditure as general reserves to ensure continued financial security and to provide for contingencies. The College will therefore hold sufficient cash and medium-term investments to cover this minimum requirement, this amounts to £4.8m.

Over recent years reserves have been used for investment in various educational initiatives and funding of capital projects and the current level of General Reserve is £5.3m. This represents the appropriate level of reserves set by the Governors, and is equal to the prior year. Financial models continue to be prepared in light of recent pressures on the sector and in an effort to maintain the General Reserve.

The College holds endowed funds of £28k and restricted funds of £135k. In addition, the College has designated funds of £6.6m, divided between capital and bursary provision. Please refer to note 20 on pages 38 – 39 for further information regarding the various funds.

Having reviewed the funding options available to the College together with the current demand for pupil places and the College’s projected cashflow, despite the 2025/26 budget predicting a deficit of £643k, the Governors have concluded that the College has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Accounting Policies on pages 23 to 25.

14

GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Future

Our central strategy is the enhancement, maintenance and development of the pupil experience and of the fabric and facilities of the school.

The Governors are conscious of the need to maintain an equitable balance between ensuring the current pupils benefit whilst, at the same time, ensuring that a sound infrastructure and financial base are preserved for future pupils in the same way as the pupils today are benefitting from the investments made in the past. With this in mind the School continues to investigate affordable development opportunities.

During the year the final work with the design of an atrium covering St Edmund’s quad was undertaken. The project which was to be funded from trading surpluses from the past two years is currently on hold whilst the ramifications of the introduction of VAT on school fees are understood. This project is seen as a critical infrastructure improvement to provide a much improved dining experience for all the College community and a much needed 6[th] Form Centre. In the short term a different solution to the 6[th] Form Centre is being considered.

There is a carefully planned rolling programme of minor improvements and maintenance, which will be ongoing over the course of several years to improve and maintain facilities yet minimise disruption to the main College operations and Summer School, and this has been embedded into our funding programme. This year the works programme included: window and gutter repairs to the front of Allen Hall including window frames, soffits, gutters and down pipes and resurfacing of the main drive.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

St. Edmund’s College was constituted by Trust Deed in 1921. The Trust Deed was amended by a Scheme of the Charity Commissioners on 29 October 1984 and a further Scheme dated 11 February 1991. It is a registered unincorporated charity, number 311073.

Appointment of Governors

The President and Patron of the College, His Eminence Cardinal Vincent Nichols, Archbishop of Westminster, is responsible for the appointment of the Chair of Governors and nominates a Priest of the Diocese to serve as a Governor. Other members of the Governing Body are appointed by the Chair in consultation with the other Governors. Governors are appointed based on their professional expertise and the skills that they can offer towards the successful operation of the College. All Governors give their time freely with no remuneration. All Governors are Roman Catholic.

Recruitment, Induction and training of Governors

On appointment new Governors receive a comprehensive induction package covering a broad range of issues and topics relevant to the College and their duties and a copy of the Association of Governing Bodies of Independent Schools (AGBIS) Governors’ handbook. All Governors are subject to recruitment vetting procedures, including a DBS check, as required for a school environment. All Governors receive annual safeguarding training.

Organisational Management

The Full Board of Governors is responsible for the overall management and control of the College, Prep School and Summer School. The Full Board of Governors is divided into four sub-committees: Education, Finance, Prep School and PR & Marketing. All sub-committees have their own terms of reference and meet either in person or by remote video conference, usually at least once a term. The regular meetings of the Full Governing Board are held termly, with additional meetings as operational matters require.

15

GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Group Structure and Relationships

The College has a wholly owned non-charitable trading subsidiary, Old Hall Enterprises Ltd. The principal activities of the company during the year remained the provision of pupil transport and rental of the agricultural land. The company remits a proportion of its profits to St Edmund’s College by donation under the Gift Aid scheme.

The Governors have formed a company limited by guarantee called St Edmund’s College, which is registered in England and Wales number 10233436 and has charitable status, registered charity number 1168580. This company was dormant throughout the financial year. The Governors are planning to merge the College with the newly formed charity once all necessary and appropriate measures, including the transfer of the trading company subsidiary, are complete.

Pay and Remuneration

St Edmund’s is committed to providing the best possible care and education to its pupils and safeguarding and promoting their welfare. The College is also committed to providing a supportive and flexible working environment to all members of staff. The College recognises that, to achieve these aims, it is of fundamental importance to attract, recruit and retain staff of the highest caliber who share this commitment.

The Chair of Governors and the Chair of the Finance sub-committee set and approve pay and remuneration levels for the key staff. Teaching staff have formal banded salary ranges which are benchmarked against those in the state sector. Support staff salaries are grouped in broad bands and are benchmarked against similar roles in the independent education sector.

The overall level of salaries expenditure is reviewed annually by the Governors and generally an inflationary increase is applied. Progression within the bands or promotions are based upon staff performance.

Employment Policy

St Edmund’s College is an equal opportunities employer and this is articulated in the College’s staff employment handbook. Full and fair consideration is given to job applications from disabled persons and due consideration is given to their training and employment needs. The staffing process is governed by St Edmund’s principles of nondiscrimination and is designed to achieve the best match between the individual’s knowledge and skills, experience and character and the requirements of the vacant post.

Investment Policy and Objectives

The College’s Investment Objectives are detailed in its investment policy. The objectives are designed to provide flexibility and liquidity options at any one time by the apportionment between cash deposits, medium and longerterm investments. The College seeks to produce the best financial return within an acceptable level of risk and all Investments will be consistent with the faith and teachings of the Catholic Church.

The value of the College investments as at 31 August 2025 is £4.04m. The investments comprise £1,983k invested with CCLA Investment Managers, £2,055m invested with Evelyn Partners Investment Managers and shares in Santander, TT Electronics and the Commonwealth Bank of Australia.

The College holds a significant amount of cash at the bank. The College’s investment policy about cash balances is that these should be divided and deposited in a number of financial institutions to reduce the risk of significant losses due to institutional failure and with institutions with a minimum rating of A.

Governors Responsibility Statement

The Governors are responsible for preparing the Governors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

16

GOVERNORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The law applicable to charities in England & Wales requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the College and the Group and of the incoming resources and application of resources of the Group for that period. In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping proper accounting records that are sufficient to show and explain the College and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Group and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the College and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Governors are responsible for the maintenance and integrity of the charity and financial information included on the Group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the Governors, on 27 November 2025 and signed on their behalf by:

Paul Raynes, Chair of Governors

17

INDEPENDENT AUDITOR’S REPORT TO THE GOVERNORS OF ST EDMUND’S COLLEGE

Opinion

We have audited the financial statements of St Edmund’s College (the ‘parent’ charity) and its subsidiary (the ‘group’) for the year ended 31 August 2025 which the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the governors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the governors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The governors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

18

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of governors

As explained more fully in the governors’ responsibilities statement, the governors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the governors are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the group or parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s Responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

19

statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or parent charity to cease to continue as a going concern.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the group and parent charity.

Our approach was as follows:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

20

Use of our report

This report is made solely to the group and parent charity's governors, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the group and parent charity’s governors those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the group and parent charity and its governors as a body, for our audit work, for this report, or for the opinion we have formed.

Shivani Kothari (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

18 December 2025

6[th] Floor 9 Appold Street London EC2A 2AP

21

St Edmund's College CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including the income and expenditure statement) for the year ended 31 August 2025

Notes
INCOME FROM:
Charitable Activities
School fees
3
Other educational income
4
Other income
Other income
5
Investments
Investment Income
6
Voluntary sources
Grants and donations
7
Total income and endowments
EXPENDITURE ON:
Costs of raising funds
Fundraising and development
8
Other trading costs
8
Interest and other costs
Charitable activities
Education
8
Total expenditure
8
Net operating income/(expenditure)
Pension charge
Other Profit or Loss on sale of assets/property
Net gains/(losses) on investments
Net income/(expenditure)
12
Transfer between funds
Net movement in funds
Fund balances brought forward
Fund balances carried forward
20, 21		 Endowed
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
28,224
28,224		 Restricted
Funds
£
-
-
-
-
250
250
-
-
1,909
1,909
(1,659)
-
-
-
(1,659)
-
(1,659)
136,992
135,333		 Unrestricted
Funds
£
16,039,886
1,685,669
385,934
444,539
137,141
18,693,169
241,426
129,777
18,274,406
18,645,609
47,560
(10,000)
(1,277)
14,008
50,291
-
50,291
11,854,401
11,904,692		 Total
2025
£
16,039,886
1,685,669
385,934
444,539
137,391
18,693,419
-
241,426
129,777
18,276,315
18,647,518
45,901
(10,000)
(1,277)
14,008
48,632
-
48,632
12,019,616
12,068,248		 Total
2024
£
16,856,915
2,090,875
237,860
278,144
132,291
19,596,087
-
239,767
(0)
18,521,598
18,761,365
834,722
1,000
-
167,196
1,002,918
-
1,002,918
11,016,698
12,019,616

The statement of financial activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The accompanying notes form part of these financial statements.

22

St Edmund's College CONSOLIDATED AND CHARITY BALANCE SHEET

as at 31 August 2025

Notes
FIXED ASSETS
Tangible assets
13
Investments
14
CURRENT ASSETS
Stocks
15
Investments
16
Debtors
17
Cash at bank and in hand
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
19
NET ASSETS
FUNDS
Restricted funds
20
Unrestricted funds – general
20
Unrestricted funds - designated
20
Endowment fund
20
CREDITORS:Amounts falling due after more
than one year
CREDITORS: Amounts falling due within one
year		 Group
2025
£
5,938,976
4,049,397
9,988,373
24,963
6,219,798
1,989,214
892,167
9,126,142
(6,133,776)
2,992,366
12,980,739
(912,491)
12,068,248
135,333
5,275,280
6,629,411
28,224
12,068,248		 Group
2024
£
6,321,113
2,065,564
8,386,676
28,714
6,500,000
856,418
4,079,032
11,464,164
(5,781,590)
5,682,574
14,069,250
(2,049,634)
12,019,616
136,992
4,753,718
7,100,683
28,224
12,019,616		 School
2025
£
5,938,976
4,049,401
9,988,377
24,963
6,219,798
2,008,378
881,125
9,134,264
(6,166,520)
2,967,744
12,956,121
(912,491)
12,043,630
135,333
5,250,662
6,629,411
28,224
12,043,630		 School
2024
£
6,321,027
2,065,568
8,386,594
28,714
6,500,000
887,008
4,026,333
11,442,054
(5,784,104)
5,657,951
14,044,545
(2,049,634)
11,994,911
136,992
4,729,013
7,100,683
28,224
11,994,911

Approved and authorised for issue by the Board of Governors on 27th November 2025 and signed on their behalf by:

P Raynes Chair of Governors

The accompanying notes form part of these financial statements.

23

St Edmund's College CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 August 2025

Notes
Net cash inflow from operating activities
25
Cash flows from investing activities:
Bank interest received
Proceeds from sale of investments
Proceeds from sale of fixed assets
Payments to acquire fixed assets
Payments to acquire investments
Net cash outflow from investing activities
Cash flows from financing activities:
Movement on Fees in advance
Net cash outflow from financing activities
Increase/(decrease) in cash
beginning of the reporting period
end of the reporting period
NET DEBT RECONCILIATION
At 1 Sept
2024
Cashflows
£
£
Cash at bank and in hand
4,079,032
(3,186,865)
Debt due within 1 year
2,210
-
Debt due after 1 year
-
-
Cash and cash equivalents at the
Cash and cash equivalents at the		 2025
£
78,095
444,539
390,298
-
(126,875)
(2,072,045)
(1,364,084)
(1,900,877)
(1,900,877)
(3,186,865)
4,079,032
892,167
Other non-
cash
£
-
(2,210)
-		 2024
£
303,558
278,144
195,926
-
(400,072)
(4,688,438)
(4,614,441)
4,104,101
4,104,101
(206,782)
4,285,814
4,079,032
At 31 Aug
2025
£
892,167
-
-

24

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2025

St Edmund's College is a registered, unincorporated charity with registered number of 311073, domiciled in England and Wales. Its registered office is St Edmund's College, Old Hall Green, Ware, Hertfordshire, SG11 1DS.

1.1 BASIS OF PREPARATION

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The College is a public benefit entity for the purposes of FRS 102 and therefore the School also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP), and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

These financial statements are prepared on the going concern basis, under the historical cost convention as modified by the revaluation of investments in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. The principal accounting policies, which have been applied consistently throughout the year, are set out below.

1.2 GOING CONCERN

The financial statements are prepared on a going concern basis which assumes the group will continue in operational existence for the foreseeable future. Governors have considered the College’s forecasts and projections and have taken account of recent changes in legislation and taxation imposed on the sector leading to the material uncertainty around pupil numbers. In addition the Governors have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the College to continue as a going concern.

The Governors have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the Governors have considered the College’s forecasts and projections and have taken account of pressures on fee income and the material uncertainty around pupil numbers, particularly in light of the current economic climate and the parents ability to pay school fees as they arise. In addition the Governors have taken into account the impact on the subsidiary company and the in ability to generate additional income, which has also been detailed in the Governors Annual Report.

The Governors accept that whilst there cannot be any certainty in these matters and having made the appropriate enquiries the Governors have concluded that there is a reasonable expectation that the College has adequate resources to meet its ongoing liabilities and to continue in operational existence for a period of at least 12 months from the date of approval of the financial statements. On this basis the Governors have continued to prepare the financial statements on a going concern basis.

1.3 INCOME

All income is recognised once the College has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Fee income comprises general school fees and disbursements and extras recharged are accounted for in the period in which the service is provided excluding VAT. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the College.

Other educational income comprises charges for use of premises which are accounted for in the period in which the service is provided.

Voluntary incoming resources are accounted for as and when entitlement arises, the amount can reliably be quantified and the economic benefit is considered probable.

Other trading income relate to charges for goods and services provided by Old Hall Enterprises Limited and are accounted for in the period which the goods and services are provided.

Rental income and investment income is accounted for when receivable.

25

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2025

1.4 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the College; this is normally upon notification of the interest paid or payable by the Bank.

1.5 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. All expenditure is accounted for excluding VAT.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Also includes costs incurred in trading activities.

Support costs are those costs incurred directly in support of expenditure on the objects of the College.

Governance costs comprise the costs of running the College, including strategic planning for its future development, external audit, and all other costs of complying with constitutional and statutory requirements.

1.6 TEACHING COSTS

Supplies of games equipment, books, stationery and sundry materials are written off when the expenditure is incurred.

1.7 FIXED ASSETS AND DEPRECIATION All fixed assets are used in direct furtherance of the College’s objectives. Fixed assets are included in these financial statements at their original cost less depreciation.

All assets costing more than £5,000 are capitalised.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the costs less estimated residual value of each asset, by equal annual instalments, over their expected useful lives which are considered to be:

Freehold Property -2% straight line Plant & equipment -from 10% to 20% straight line Vehicles -25% straight line Artificial Pitches -33% reducing balance

1.8 PENSIONS Full-time and part-time teaching staff employed under a contract of service are eligible to contribute to the Teachers’ Pension Scheme (TPS). The TPS, a statutory, contributory, final salary scheme is administered by Capita Teachers’ Pensions on behalf of the Department for Education and Skills.

Costs include normal and supplementary contributions. The regular cost is the normal contribution, expressed as a percentage of salary of a teacher newly entering service, which would defray the cost of benefits payable in respect of that service. Variations from the regular pension cost are met by a supplementary contribution. This occurs if, as a result of the actuarial investigation, it is found that the accumulated liabilities for benefits to past and present teachers are not fully covered by normal contributions to be paid in the future and by the fund built up from past contributions. The normal and supplementary contributions are charged to the income and expenditure account in the year.

The College also contributes to a defined contribution money purchase scheme for non teaching staff and the School's liability is restricted to the amount of contributions made. These costs are charged to the Statement of Financial Activities in the year in which they fall due. The College also contributes to a closed defined benefit company pension scheme for non teaching staff at rates set by the Scheme Actuary and advised to the College by the Scheme Administrator. These pension costs are charged as and when they are incurred.

The College also has a closed defined benefits scheme for non-teaching staff. Contributions to the Scheme are made in accordance with the recommendations of independent actuaries and are charged to the Statement of Financial Activities as they are incurred. In addition, under the provisions of FRS102, the actuarial liability of the Scheme is reviewed annually and provision is made for any actuarial deficit arising. The assets of the Scheme are held separately from the company in an independently administered fund. Contributions to the defined contribution scheme are charged to the Statement of Financial Activities as they are incurred.

26

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2025

1.9 STOCK

Stock represents materials or supplies to be consumed by the business and are recognised at the lower of cost or net realisable value.

1.10 LEASES AND HIRE PURCHASE CONTRACTS

Rentals paid under operating leases are charged to the Statement of Financial Activities (Incorporating Income and Expenditure Account) evenly over the period of the lease.

1.11 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at market value at the Balance Sheet date, unless market value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

1.12 CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.13 FINANCIAL INSTRUMENTS

The College only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.14 TAXATION

The College is a registered charity and is exempt from taxation as afforded by Section 505 ICTA 1988.

1.15 EMPLOYEE BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense.

2 KEY ESTIMATES & JUDGEMENTS

In the application of the College's accounting policies, the College is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In the opinion of the Governors, the estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Critical judgements

Useful economic lives

The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Recoverable value of fee debtors

The College makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

27

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

3 FEE INCOME

The College’s activities are carried out within the UK.
The College's fee income comprised:
Gross fees
Less: bursaries, grants and allowances
4 OTHER EDUCATIONAL INCOME
Endowed
Funds
£
Summer school income
-
Registration fees
-
Fundraising income
-
School coach income
-
Music lesson recoveries
-
-
5 OTHER INCOME
Endowed
Funds
£
Other income
-
Commission income
-
Rental income
Trading income
-
-
6 INVESTMENT INCOME
Endowed
Funds
£
Investment income
-
-
7 DONATIONS AND GRANTS
Endowed
Funds
£
Donations and gifts
-
Grant income
-
-		 Restricted
Funds
£
-
-
-
-
-
-
Restricted
Funds
£
-
-
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
250
-
250		 Unrestricted
Funds
£
721,576
31,479
42,920
650,581
239,113
1,685,669
Unrestricted
Funds
£
308,567
9,790
2,828
64,749
385,934
Unrestricted
Funds
£
444,539
444,539
Unrestricted
Funds
£
100,676
36,465
137,141		 2025
£
17,856,861
(1,816,975)
16,039,886
2025
£
721,576
31,479
42,920
650,581
239,113
1,685,669
2025
£
308,567
9,790
2,828
64,749
385,934
2025
£
444,539
444,539
2025
£
100,926
36,465
137,391		 2024
£
18,330,342
(1,473,427)
16,856,915
2024
£
1,079,312
33,594
47,309
681,946
248,715
2,090,875
2024
£
160,950
5,843
5,983
65,084
237,860
2024
£
278,144
278,144
2024
£
102,959
29,332
132,291

28

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

8 EXPENDITURE

Costs of Raising Funds
Trading costs
Total Costs of Raising Funds
Charitable expenditure
Teaching
Welfare
Premises and Estates
Administration
Finance Costs
Fundraising
Governance
Total Charitable Expenditure
Total Expended
Costs of Raising Funds
Trading costs
Total Costs of Raising Funds
Charitable expenditure
Teaching
Welfare
Premises and Estates
Administration
Finance Costs
Fundraising
Governance
Total Charitable Expenditure
Total Expended		 £
-
-
£
8,651,402
457,066
1,571,611
1,645,446
-
-
662
12,326,187
12,326,187
£
-
-
£
8,618,661
381,932
1,557,231
1,786,533
-
-
1,135
12,345,493
12,345,493
Staff costs
(note 9)
Staff costs
(note 9)
Staff costs
(note 9)
Staff costs
(note 9)		 Other
£
241,340
241,340
Other
£
701,538
1,563,517
1,946,019
1,356,709
90,053
39,680
32,745
5,730,261
5,971,601
Other
£
239,257
239,257
Other
£
824,199
1,554,802
1,619,704
1,729,216
70,848
14,395
34,824
5,847,987
6,087,244



 Depreciation
£
86
86
Depreciation
£
-
-
349,644
-
-
-
-
349,644
349,730
Depreciation
£
510
510
Depreciation
£
-
-
328,117
-
-
-
-
328,117
328,627		 Total
2025
£
241,426
241,426
Total
2025
£
9,352,940
2,020,583
3,867,274
3,002,155
90,053
39,680
33,407
18,406,092
18,647,518
Total
2024
£
239,767
239,767
Total
2024
£
9,442,860
1,936,733
3,505,052
3,515,750
70,848
14,395
35,959
18,521,598
18,761,365

(a) Costs of Raising Funds

29

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

8 EXPENDITURE (continued)

(b)
Other Governance Costs include:
Auditors' remuneration
- Audit Fees
Governor's insurance
Governor's expenses
Misc
(c)
Administration Costs
Salaries
National Insurance
Pension Costs
Staff Training
Other Staff Related Costs
Subscriptions
Staff travel
Operating Leases
IT support
Postage and stationery
Telephones
Marketing and advertising
Website
VAT recovery (first year only)
Legal and Professional Fees
Other Administration Costs
Other Finance		 2025
£
28,610
3,293
512
992
33,407
2025
£		 2024
£
30,353
3,294
964
1,349
35,960
2024
£
1,337,533
129,068
137,436
31,517
182,496
58,604
29,492
29,898
204,354
68,034
46,833
566,632
14,980
-
118,335
560,536
70,848
3,586,597
1,188,092
163,384
189,897
18,566
104,073
50,315
29,213
(18,834)
203,501
56,577
46,420
436,787
16,121
(168,899)
81,545
605,397
90,053
3,092,208

30

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

9 STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
Other staff costs		 2025
£
9,268,704
1,037,917
1,914,831
104,735
12,326,187		 2024
£
9,478,622
963,853
1,719,386
183,632
12,345,493

Termination payments totalling £85,496 were made to five employees during the year (2024: £nil).

The average monthly number of employees during the year was as follows:

Teaching
Support
Welfare
Premises
Household
Admin
Marketing		 2025
No.
187
7
14
32
28
34
8
310		 2024
No.
186
7
14
32
28
34
6
307		 2025
FTE
113
5
7
23
23
27
7
205		 2024
FTE
124
5
7
24
22
25
6
213
£60,000 in the year was as follows:
£60,000 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000
£130,001 - £140,000
£140,001 - £150,000
£150,001 - £160,000
The number of employees whose emoluments
amounted to over		 2025
No.
20
5
2
1
-
-
1
29		 2024
No.
15
5
1
1
-
1
-
23

Total pensions for the above employees amounted to £ 546,535 (2024: £397,601)

10 GOVERNORS REMUNERATION AND BENEFITS

There were no Governors' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.

Travel and training expenses of £315 (2024: £964) for 1 governor (31 August 2024: 5) were reimbursed during the year.

Key management personnel include the Govenors the Heads of the College and the Prep School and Senior Leadership Team. The total pay and benefits received by key management personnel were £769,650 (2024: £655,175).

31

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

11 PENSIONS

The College participates in the Teachers' Pension Scheme ('the TPS') for its teaching staff. The pension charge for the year includes employer contributions payable to the TPS of £2,093,480 (2024: £1,805,836) and at the year end £162,604 (2024: £169,619) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The school has accounted for its contributions to the scheme as if it were a defined contribution scheme.

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2023 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020 in accordance with The Public Service Pensions (Valuations and Employer Cost Cap) Directions 2023 and the Employer Contribution Rate was assessed using agreed assumptions in line with the Directions and was accepted at the original assessed rate as there was no cost control mechanism breach.

The valuation report was published by the Department for Education on 26 October 2023. The key elements of the valuation are:

As a result of the valuation, new employer contribution rates have been set at 28.6% of pensionable pay from 1 April 2024 until 31 March 2027 (compared to 23.68% under the previous valuation including a 0.08% administration levy).

The College operates a Defined Benefit Pension Scheme.

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

2025 2024
Discount rate at 31 August 5.90% 5.00%
Future salary increases 2.50% 2.50%
Future pension increases 3.20% 3.20%
Future rate of increase of pensions in deferment 3.20% 3.20%
Inflation 3.10% 3.20%

A full accounting valuation was carried out at 31 August 2025 by a qualified actuary, independent of the scheme's sponsoring employer. The major assumptions used by the actuary are shown below.

From 1 July 2021 the employer pays contributions at a rate of 34.2% of pensionable pay (which includes 4.1% in resepct of normal administrative charges). Plus £120,000 per annum payable in monthly instalments for the Recovery Plan, which runs from 1 July 2021 to 30 June 2030. Member contributions are payable in addition at the rate of 2.64% of pensionable pay.

The assets in the scheme and the expected rates of return were:
Equities
Cash
Property
Insured pensions
Bonds
Alternatives
Total market value of assets
Assets in excess of liabilities have not been recognised.		 Fair value
31-Aug-25
£
-
233,000
-
1,000,000
919,000
-
2,152,000		 Fair value
31-Aug-24
£
162,000
70,000
12,000
930,000
1,248,000
46,000
2,468,000

The actual return/(loss) on scheme assets was (£325,000) (2024: (£30,000))

The amounts recognised in the Statement of Financial Activities are as follows:

32

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2025

11 PENSIONS (continued)

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Current service cost|15,000|18,000| |Net interest cost|(25,000)|(17,000)| |Total|(10,000)|1,000| |Actual return/(loss) on scheme assets|(325,000)|(30,000)| |Movements in the present value of a defined benefit obligation were as follows:| |2025|2024| |£|£| |Opening defined benefit obligation|2,019,000|2,201,000| |Interest cost|99,000|112,000| |Contributions by scheme participants|1,000|2,000| |Actuarial (gain)/loss|(201,000)|(184,000)| |Current service costs|15,000|18,000| |Benefits paid|(88,000)|(130,000)| |Closing defined benefit obligation|1,845,000|2,019,000| |Changes in the fair value of scheme assets were as follows:| |2025|2024| |£|£| |Opening fair value of scheme assets|2,468,000|2,478,000| |Interest income|124,000|129,000| |Actuarial gains and (losses)|(449,000)|(159,000)| |Contributions by employer|96,000|148,000| |Contributions by scheme participants|1,000|2,000| |Benefits paid|(88,000)|(130,000)| |2,152,000|2,468,000| |Assets in excess of liabilities have not been recognised.|

----- End of picture text -----

The college expects to contribute £9,000 to its Defined Benefit Pension Scheme in the next accounting year.

The major categories of scheme assets as a percentage of total scheme assets are as follows:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |Equities|46.47%|46.11%| |Bonds|42.70%|50.57%| |Property|0.00%|0.49%| |Cash|10.83%|2.84%|

----- End of picture text -----

Amounts for the current and previous four periods are as follows:

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Defined benefit pension schemes| |2025|2024|2023|2022|2021| |Defined benefit obligation|(1,845,000)|(2,019,000)|(2,201,000)|(2,507,000)|(3,736,000)| |Scheme assets|2,152,000|2,468,000|2,478,000|2,635,000|2,949,000| |Surplus/(Deficit)|307,000|449,000|277,000|128,000|(787,000)| |Experience adjustments on scheme liabilities|201,000|184,000|341,000|1,229,000|(89,000)| |Experience adjustments on scheme assets|(449,000)|(159,000)|(335,000)|(406,000)|172,000|

----- End of picture text -----

The scheme assets in excess of obligations have not been recognised.

12 NET INCOME FOR THE YEAR

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |Net income is stated after charging:|£|£| |Depreciation of tangible fixed assets|349,730|328,627| |Operating lease rentals – other|(18,834)|29,898|

----- End of picture text -----

33

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

13 TANGIBLE FIXED ASSETS

GROUP

Cost:
At 1 September 2024
Additions
Disposals
At 31 August 2025
Depreciation:
At 1 September 2024
Charge for year
Disposals
At 31 August 2025
Net book value:
At 31 August 2025
At 1 September 2024
COLLEGE
Cost:
At 1 September 2024
Additions
Disposals
At 31 August 2025
Depreciation:
At 1 September 2024
Charge for year
Disposals
At 31 August 2025
Net book value:
At 31 August 2025
At 1 September 2024		 All Weather
Pitch
£
416,498
-
-
416,498
416,498
-
-
416,498
-
-
All Weather
Pitch
£
416,498
-
416,498
416,498
-
416,498
-
-		 Motor
Vehicles
£
18,530
-
-
18,530
15,952
2,562
-
18,514
16
2,578
Motor
Vehicles
£
18,530
-
18,530
15,952
2,562
18,514
16
2,578		 Freehold
Property
£
5,963,017
-
(158,004)
5,805,013
348,301
116,100
-
464,401
5,340,612
5,614,716
Freehold
Property
£
5,963,017
-
(158,004)
5,805,013
348,301
116,100
-
464,401
5,340,612
5,614,716		 Plant
&
Equipment
£
2,661,142
126,875
(12,639)
2,775,378
1,957,324
231,068
(11,362)
2,177,030
598,348
703,819
Equipment
&
Vehicles
£
2,659,100
126,875
(12,639)
2,773,336
1,955,368
230,982
(11,362)
2,174,988
598,348
703,733		 Total
£
9,059,187
126,875
(170,643)
9,015,419
2,738,075
349,730
(11,362)
3,076,443
5,938,976
6,321,113
Total
£
9,057,145
126,875
(170,643)
9,013,377
2,736,119
349,644
(11,362)
3,074,401
5,938,976
6,321,027

Land and buildings mainly represents freehold properties vested in the Trustees of the Archdiocese of Westminster. This comprises College land and buildings at nil book value at 31 August 2001 with subsequent additions at a cost of £4,829,634, residential freehold additions at a cost of £654,859 and a residential freehold property at a cost of £320,517.

The net book value of plant held under finance lease is £NIL (2024: £11,933)

34

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2025

14 INVESTMENTS

GROUP
Shares in group
undertakings
£
Cost/valuation At 1 September 2024
-
Additions
-
Disposals
-
Gains/(Losses) arising from movements in valuations
-
Cost/valuation At 31 August 2025
-
UK fixed interest
-
Overseas fixed interest
-
UK equities
-
International equities
-
Property
-
Alternative assets
-
-
COLLEGE
Shares in group
undertakings
£
Cost/valuation At 1 September 2024
4
Additions
-
Disposals
-
Gains/(Losses) arising from movements in valuations
-
Cost/valuation At 31 August 2025
4		 Listed
investments
£
2,065,563
2,072,045
(120,096)
31,885
4,049,397
567,661
34,711
515,098
2,375,239
128,732
427,957
4,049,397
Listed
investments
£
2,065,563
2,072,045
(120,096)
31,885
4,049,397		 2025
£
2,065,563
2,072,045
(120,096)
31,885
4,049,397
567,661
34,711
515,098
2,375,239
128,732
427,957
4,049,397
2025
£
2,065,567
2,072,045
(120,096)
31,885
4,049,401		 2024
£
1,904,854
188,438
(186,643)
158,914
2,065,564
297,069
19,745
278,828
1,181,304
77,550
211,068
2,065,564
2024
£
1,904,858
188,438
(186,643)
158,914
2,065,568

Net Investment gains shown on the Statement of Financial Activities of £14,008 (2024: gains of £167,196) include unrealised gains on investments of £31,885 (2024: gains of £158,914) and realised loss on investments of £16,523 (2024: gains of £8,282).

35

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

14 INVESTMENTS (continued)

Investments in subsidiary consist of the wholly owned share capital of four shares of £1 in Old Hall Enterprises Limited, Company Number 01889064. The company's principal activity is the management of the external activities of the School and transportation. Its results for the year ended 31 August 2025 are as follows:

Profit and loss accounts for the year ended 31 August 2025
Turnover
Expenditure
Interest receivable
Interest payable
Profit for the period
Net assets at 31 August 2025
Fixed assets
Debtors
Cash
Due from parent undertakings
Due to parent undertakings
Other creditors
Capital and reserves
15 STOCK
Stock Catering
General Stock
16 CURRENT ASSET INVESTMENTS
Cash on deposit
17 DEBTORS
Fees and extras
Other debtors
Prepayments and accrued income
Amount due from group undertaking		 Group
2025
£
1,304,382
38,949
645,883
-
1,989,214		 Group
2024
£
355,697
32,725
467,996
-
856,418		 2025
£		 £
552,447
(506,561)
406
(1,321)
44,971
46,219
11,042
63,374
(65,382)
(30,630)
24,623
24,623
2024
£
8,099
20,615
28,714
2024
£
6,500,000
6,500,000
College
2024
£
355,697
4,033
459,294
67,984
887,008
8,302
16,661
24,963
2025
£
6,219,798
6,219,798
College
2025
£
1,304,382
6,843
631,771
65,382
2,008,378

36

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 August 2025

18 CREDITORS

Amounts falling due within one year:
Trade creditors
Taxation and social security costs
Fee Deposits
Fees in advance
Other creditors
Accruals
Amounts payable under finance leases
Amount due to group undertaking
Deferred income:
Brought forwards
Released in year
Received in year
Carried forwards		 Group
2025
£
680,257
1,276,113
956,538
2,216,211
364,469
640,188
-
-
6,133,776
Group
2025
£
2,979,945
(2,979,945)
2,216,211
2,216,211		 Group
2024
£
549,767
497,438
1,033,159
2,979,945
300,697
418,375
2,210
-
5,781,590
Group
2024
£
1,155,809
(1,155,809)
2,979,945
2,979,945		 College
2025
£
664,363
1,276,113
956,538
2,216,211
355,368
634,553
-
63,374
6,166,520
College
2025
£
2,979,945
(2,979,945)
2,216,211
2,216,211		 College
2024
£
544,405
497,438
1,033,159
2,979,945
300,697
412,250
2,210
14,001
5,784,104
College
2024
£
1,155,809
(1,155,809)
2,979,945
2,979,945

Deferred income relates to schools fees received in advance for the following term, as well as fees received as part of the advance fees composite scheme.

19 CREDITORS DUE AFTER ONE YEAR

Amounts falling due after more than one year:
Fees in advance		 Group
2025
£
912,491
912,491		 Group
2024
£
2,049,634
2,049,634		 College
2025
£
912,491
912,491		 College
2024
£
2,049,634
2,049,634

37

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

20 STATEMENT OF FUNDS

GROUP
Unrestricted funds:
General reserve
Designated
Trading
Total restricted
Total endowment
Total funds
Unrestricted funds:
General reserve
Revaluation reserve
Designated
Trading
Total restricted
Total endowment
Total funds
COLLEGE
Unrestricted funds:
General reserve
Designated
Total restricted
Total endowment
Total funds
Unrestricted funds:
General reserve
Designated
Total restricted
Total endowment
Total funds		 £
4,729,013
7,100,683
24,705
136,992
28,224
12,019,616
£
4,602,690
-
6,210,862
25,215
149,707
28,224
11,016,698
£
4,729,013
7,100,683
136,992
28,224
11,994,911
£
4,602,690
6,210,862
149,707
28,224
10,991,483
At 1
September
2023
At 1
September
2023
At 1
September
2024
At 1
September
2024		 Income
£
18,585,094
42,920
65,155
250
-
18,693,419
Income
£
19,478,968
-
47,309
67,310
2,500
-
19,596,087
Income
£
18,631,472
42,920
250
-
18,674,642
Income
£
19,524,650
47,309
2,500
-
19,574,459







 Expenditure
£
(18,032,999)
(371,185)
(241,426)
(1,909)
-
(18,647,519)
Expenditure
£
(18,391,103)
-
(130,495)
(239,767)
-
-
(18,761,365)
Expenditure
£
(18,255,561)
(371,185)
(1,909)
-
(18,628,655)
Expenditure
£
(18,608,732)
(130,495)
-
-
(18,739,227)		 Transfer
Between
Funds
£
(33,178)
(143,007)
176,185
-
-
-
Transfer
Between
Funds
£
(1,129,739)
-
973,007
171,947
(15,215)
-
-
Transfer
Between
Funds
£
143,007
(143,007)
-
-
-
Transfer
Between
Funds
£
(957,792)
973,007
(15,215)
-
-		 Gains/
(losses)
£
2,731
-
-
-
2,731
Gains/
(losses)
£
168,196
-
-
-
-
-
168,196
Gains/
(losses)
£
2,731
-
-
-
2,731
Gains/
(losses)
£
168,196
-
-
-
168,196		 £
5,250,661
6,629,411
24,619
135,333
28,224
12,068,248
£
4,729,013
-
7,100,683
24,705
136,992
28,224
12,019,616
£
5,250,662
6,629,411
135,333
28,224
12,043,630
£
4,729,013
7,100,683
136,992
28,224
11,994,911
At 31 August
2024
At 31 August
2024
At 31
August 2025
At 31
August 2025

38

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

20 STATEMENT OF FUNDS (continued)

Restricted funds

Restricted funds mainly comprise donations received specifically to generate income to fund scholarships and bursaries. Transfers are made from the Restricted Funds to general funds to contribute to the cost of scholarships and bursaries.

Designated funds

The Designated funds include donations to the College Parents Association and income generated on behalf of the College by the Parents Association. The income is used to fund purchases of specific items of equipment for use by College students. It also includes the Capital Reserve which represents the balance of the College funds that are invested in land and buildings, the remainder being funds allocated for specific items of expenditure.

21 ANALYSIS OF NET ASSETS BETWEEN FUNDS

GROUP
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Total net assets
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Total net assets
COLLEGE
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Total net assets
Tangible fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
Total net assets		 Unrestricted
funds
£
5,938,976
4,049,397
8,962,585
(6,133,776)
(912,491)
11,904,691
Unrestricted
funds
£
6,321,113
2,065,564
11,298,948
(5,781,590)
(2,049,634)
11,854,401
Unrestricted
funds
5,938,976
4,049,401
8,970,707
(6,166,520)
(912,491)
11,880,073
Unrestricted
funds
6,321,027
2,065,568
11,276,838
(5,784,104)
(2,049,634)
11,829,696		 Restricted
funds
£

-

-

135,333

-

-
135,333
Restricted
funds
£

-

-

136,992

-

-

136,992
Restricted
funds
£

-

-

135,333

-
-
135,333
Restricted
funds
£

-

-

136,992
-
-

136,992		 Endowment
funds
£

-

-

28,224

-

-
28,224
Endowment
funds
£

-

-

28,224

-

-

28,224
Endowment
funds
£

-

-

28,224

-

-
28,224
Endowment
funds
£

-

-
28,224

-

-

28,224		 2025
Total
£

5,938,976

4,049,397
9,126,142
(6,133,776)
(912,491)
12,068,248
2024
Total
£

6,321,113

2,065,564
11,464,164
(5,781,590)
(2,049,634)
12,019,616
2025
Total
£

5,938,976

4,049,401
9,134,264
(6,166,520)
(912,491)
12,043,630
2024
Total
£

6,321,027

2,065,568
11,442,054
(5,784,104)
(2,049,634)
11,994,911

39

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

22 COMMITMENTS UNDER OPERATING LEASES

At 31 August 2025, the Group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Due within one year
Due between two and five years		 2025
131,063
165,914
296,977		 2024
115,543
174,457
290,000

23 RELATED PARTIES

There were no transactions with related parties during the year (2024 - none).

In addition one Governor is a Director of the trading subsidiary Old Hall Enterprises Limited over which the Charity exercises control. The parent charity prepared group consolidated financial statements and accordingly, the charity has taken advantage of the exemptions contained within FRS102 paragraph 33.1A not to disclose transactions arising in the year with the wholly owned group undertakings. At 31 August 2025 Old Hall Enterprises owed St Edmund's College £20,325 (2024: £24,000). The loan is secured by a fixed and floating charge over the assets of the company and bears interest at a rate of 2% over the Bank of England base rate. There are no fixed repayment terms, £3,675 was repaid in the year.

24 CONTINGENT LIABILITIES

The Governors have assigned Willow House, one of the College's properties with an estimated current value of £500,000, to the St Edmund's College Pension and Life Assurance Scheme. The value of the property will be realised should it become necessary for the College to cover any deficit within the pension scheme which may crystallise in the future.

25 NOTES TO THE CASHFLOW STATEMENT

Reconciliation of operating result to net cash inflow from
operating activities
Net movement in funds
Losses/(gains) on investments
Depreciation
Amortisation
Bank interest and investment income received
Losses/(gains) on pension
Interest payable
(Profit)/Loss on sale of Fixed Assets
Increase/(Decrease) in creditors
(Increase)/Decrease in debtors
(Increase)/Decrease in stocks		 2025
£
48,632
(31,884)
349,730
-
(444,539)
10,000
-
159,281
1,115,920
(1,132,797)
3,753
78,095		 2024
£
1,002,918
(167,196)
328,627
-
(278,144)
(1,000)
(0)
-
(607,482)
44,510
(18,677)
303,558

40

St Edmund's College NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025

26 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES - COMPARATIVE FIGURES BY FUND TYPE

Notes
INCOME FROM:
Charitable Activities
School fees
3
Other educational income
4
Other income
Other income
5
Investments
Investment Income
6
Voluntary sources
Grants and donations
7
Total income and endowments
EXPENDITURE ON:
Costs of raising funds
Other trading costs
8
Charitable activities
Education
8
Total expenditure
8
Net operating income/(expenditure)
Pension Provision change
Net gains/(losses) on investments
Net income/(expenditure)
12
Transfer between funds
Net movement in funds
Fund balances brought forward
Fund balances carried forward
19, 20		 Endowed
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
28,224
28,224		 Restricted
Funds
£
-
-
-
-
2,500
2,500
-
-
-
2,500
-
-
2,500
(15,215)
(12,715)
149,707
136,992		 Unrestricted
Funds
£
16,856,915
2,090,875
237,860
278,144
129,791
19,593,587
239,767
18,521,598
18,761,365
832,222
1,000
167,196
1,000,418
15,215
1,015,633
10,838,767
11,854,400		 Total
2024
£
16,856,915
2,090,875
237,860
278,144
132,291
19,596,087
239,767
18,521,598
18,761,365
834,722
1,000
167,196
1,002,918
-
1,002,918
11,016,698
12,019,616

41