Registered number: 00830735 Charity number: 312045
St Christopher's School Trust (Epsom) Limited (A company limited by guarantee)
Trustees' report and financial statements
for the year ended 31 August 2025
St Christopher's School Trust (Epsom) Limited (A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 11 |
| Independent auditors' report on the financial statements | 12 - 15 |
| Statement of financial activities | 16 |
| Balance sheet | 17 - 18 |
| Statement of cash flows | 19 |
| Notes to the financial statements | 20 - 36 |
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Reference and administrative details of the charity, its Trustees and advisers for the year ended 31 August 2025
| Trustees | Mr Alastair Dominic Roberts, Chair (resigned 31 August 2025) |
|---|---|
| Mrs Dawn Bhoma (resigned 14 September 2025) | |
| Mrs Helen Crossley | |
| Mrs Elizabeth Hibbert (resigned 31 August 2025) | |
| Mr Stephen Mainstone | |
| Mr Bryan O'Callaghan | |
| Mrs Ciara Chellun (resigned 31 August 2025) | |
| Mr Mark O'Halloran (resigned 14 September 2025) | |
| Dr Nadia Oozeerally | |
| Mrs Sarah Raja (resigned 31 August 2025) | |
| Company registered number 00830735 Charity registered number 312045 Registered office 6 Downs Road Epsom Surrey KT18 5HE Secretary Mrs H M Serrano Headteacher Mrs Bronia Grehan Independent auditors Kreston Reeves Audit LLP Statutory Auditor Springfield House Springfield Road Horsham West Sussex RH12 2RG Bankers Lloyds Bank Plc 64 High Street Epsom Surrey KT19 8AT |
Page 1
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Trustees' report for the year ended 31 August 2025
The Trustees present their annual report together with the audited financial statements of the charity for the 1 September 2024 to 31 August 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company'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 applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
The Charitable Company is a company limited by guarantee and has a registered Charity number of 312045 and a registered company number of 00830735.
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
On 30 April 2025, all the charitable company’s assets and liabilities were transferred at book value to Reigate Grammar School (“RGS”). The activities of the School are continuing within the RGS group. Following the transfer, and in accordance with the agreement, it is the intention of the Trustees to make plans for the orderly dissolution of the charitable company as soon as it is practicably possible to do so.
The following sections of this report are relevant for the charitable company for the year ended 31 August 2025 and all references to the School should be read as referring to the charitable company with the knowledge of the above transfer. The Trustees of the charitable company were the Governors of the School up to the date of the transfer to RGS.
St Christopher's School is a charitable trust which seeks to benefit the public through the pursuit of its stated aims.
Principal Activity
The principal activity of the charity continues to be the provision of a pre-preparatory school and nursery for girls and boys up to the age of 7.
Ethos, Aims, and Objectives
a. Our ethos: a caring school serving our local community and society
St Christopher’s primary purpose is to challenge and inspire every child and give them the best possible start to their education and development whilst supporting our families through their child’s early years of education.
Our school and nursery comprises happy, creative, and stimulating settings, providing every child with a broad and challenging education within a caring and secure family environment. We encourage mutual respect and understanding, cooperation and tolerance of others, and place a strong emphasis on high standards of manners and good behaviour.
The happy atmosphere of the School promotes excellent relationships between staff, pupils, and parents making for a warm, supportive, and lively community.
Our School is committed to safeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment.
We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of age, disability, gender reassignment, marriage or civil partnership, pregnancy and maternity, race, religion/belief, sex, and sexual orientation. We will make reasonable adjustments to meet the needs of staff or pupils who are or become disabled.
Page 2
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 August 2025
Ethos, Aims, and Objectives (continued)
b. Our Aims
Our aim is for our children to leave St Christopher’s as independent, highly motivated, and engaged learners.
Our approach is based on our values of excellence, empathy, and endeavour.
Our values are supported by the pillars of respect, kindness, integrity, creativity, courage, and resilience.
We do this by:
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Providing a happy, safe, and stimulating environment where our diverse community thrives.
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Carefully planning each stage in our young children’s development.
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Building effective partnerships with parents and guardians, visitors, and outside agencies through clear and careful communication.
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Providing an ambitious, creative, and inspirational curriculum and co-curriculum which enable our children to become successful lifelong learners.
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Ensuring equality and equity of opportunity are a driving force to ensure all the needs of our young children are met.
c. Our objectives
The primary objective, as set out in the Memorandum and Articles of Association, is to promote the advancement of education, including (but not limited to) the provision of preparatory schools (whether for boys, girls or co-educational) in any part or parts of the United Kingdom.
In setting our objectives and planning our activities, the Governors have considered the Charity Commission’s public benefit guidance.
Our key objectives for the year included:
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Continue to enhance safeguarding structures and procedures, focusing on training staff in new safeguarding software (CPOMs), embedding protocols for online safety and promoting a prejudice-free environment through the integration of Equality, Diversity and Inclusion (EDI) audit outcomes.
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Community and charitable engagement - Build on strong community ties and expand fundraising efforts, ensuring active involvement in charitable initiatives.
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Following our last successful ISI Compliance Inspection, maintain readiness for the next inspection through ongoing review and updating compliance standards, particularly in safeguarding, mental health and learning support.
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Maximising facilities and learning environments.
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Complete the curriculum review with a focus on embedding a refreshed science and IT curriculum, enhancing mental health and wellbeing education and ensuring all children’s learning needs are met.
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Develop and implement an updated teaching and learning policy grounded in robust pedagogical research. Focus on new initiatives such as outdoor learning and metacognition.
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Celebrate the successes and experiences of pupils at St Christopher’s through diverse platforms, including social media and community events, while further promoting achievements in academic, artistic and sporting arenas.
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Enhance admissions processes to ensure a smooth and welcoming experience for prospective parents, building on the success of high conversion rates from school tours and open mornings.
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Establish a comprehensive and cyclical professional development programme, using platforms like the National College to support compliance and educational improvements. Prioritise training in SEND, safeguarding and subject-specific leadership.
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Strengthen the school’s focus on wellbeing, equity, diversity and inclusivity (WEDI), ensuring these principles are reflected in all policies, procedures and daily practices.
Page 3
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 August 2025
Ethos, Aims, and Objectives (continued)
d. Strategy and Policies
The Governors are responsible for setting a strategy for achieving the objectives they have set. The focus of our strategy is on the development of our pupils, their continued high levels of academic and co-curricular achievement, their happiness and wellbeing and to further wider access to the education our School provides. In taking forward our strategy we:
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review and benchmark the School’s curriculum, teaching practices, and academic achievements
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ensure the range of co-curricular activities available to our pupils is stimulating and challenging whilst specifically working to ensure the wellbeing of our pupils.
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invest in technology and the infrastructure of our school.
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continue to review and develop our methods for awarding bursaries to ensure wider access to pupils from all backgrounds.
e. Access policy
St Christopher’s is part of a wider community and we encourage our staff and pupils to engage and participate.
f. Bursary policy
The Governors view our bursary awards as important in helping to ensure children from families who would otherwise not be able to afford the fees can access the education we offer. Our bursary awards are available to all who meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil’s education and future prospects would otherwise be at risk for example in the case of redundancy or bereavement.
In assessing means, we take several factors into account including family income, investments and savings and family circumstances. However, our School does not have a large endowment and in funding our awards we have to be mindful that we must ensure a balance between fee-paying parents, many of whom make considerable personal sacrifice to fund their child’s education, and those benefiting from the awards.
This year bursaries of £2,166 (2024 - £Nil) were paid.
The Governors remain committed to widening access to our school through the above subsidies, additionally to underline the value we place on continuity for families, we offer sibling discounts where parents have more than one child at the School.
Page 4
St Christopher's School Trust (Epsom) Limited (A company limited by guarantee)
Trustees' report (continued) for the year ended 31 August 2025
Achievements and performance
a. Review of the year
‘St. Christopher’s School offers a warm, supportive environment where students are encouraged to grow both academically and personally. The dedicated staff strong community values and focus on individual development make it a truly special place for children to learn and thrive.’ (Quote from Parents Questionnaire Summer 2025)
‘St Christopher’s school is a small school with a global outlook’. (Quote from St Christoher’s school Development Plan.)
Academically, our pupils continue to demonstrate remarkable progress, with results significantly exceeding national averages. Our children have successfully secured places at their next schools of choice, including City of London Freemen’s School, Downsend, Chinthurst, Aberdour, reflecting the strong foundation they receive at St Christopher’s.
At St Christopher’s, we believe that some of the most powerful learning happens when children are inspired by people who truly love what they teach. From the moment children join in Nursery to Year 2, our children enjoy lessons with passionate specialist teachers across the curriculum, including French, Art, Music, PE and Forest School.
During the year, there were thorough internal curriculum audits with an emphasis on Mental Health and Wellbeing. The new mental health programme ‘Mighty Minds’ continues to be rolled out. Our celebrations extended beyond academics, embracing the arts, community engagement and sporting.
Highlights of the year
St Christopher’s has been named as finalists in the Pre-Prep of the Year for the Independent Schools Magazine.
St Christopher’s has also been named as a finalist in the Excellence and Innovation in Early Years category from the Independent Schools Association.
100% of Year 2 children were offered places to their first school of choice.
The standardised scores in English and Maths for our Year 2 children were significantly above national averages, with 82% or Year 2 pupils scoring above average and very high in Maths in particular, (the national standard is 26%. ) 100% of Year 2 children achieved age-related expectations in reading, writing and Maths.
In Early Years, 84% of our children reached a Good Level of Development . This is a key assessment measure in the Early Years Foundation Stage (EYFS) used to evaluate children’s attainment at the end of their Reception year. The national average is 68.3%.
Art
In the Independent Schools Association National Art competition, St Christopher’s were awarded a First Place in the Textiles category in the EYFS-Year 1 age group and a Second Place in the Drawing category.
Extra- Curricula
LAMDA (London Academy of Music and drama) classes were offered for the first time. LAMDA is renowned for developing communication performance and public speaking skills. In this first year all candidates gained a Distinction.
Page 5
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 August 2025
Achievements and performance (continued)
Parents
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Regular PTA events such as the:
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Christmas and Summer Fairs and the visit from the Easter Bunny.
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Quiz night and Spring Ball for parents and
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Valentine and Halloween discos for children
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Informative parent workshops.
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Grandparent visits and engaging open mornings.
Community and Charity support
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Year 2 Singing at the opening of the Garden of Remembrance Bourne Hall Ewell
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Harvest Festival celebration at St Martin’s Church
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Year 2 Carol Singing at Linden House Care Home.
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St Christopher’s attended the Millenium Woodcote 25th Anniversary Fair with all proceeds donated to the fund.
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£605.12 from Macmillan Coffee Morning
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£2,511 for The Children’s Trust through festive Elf Race.
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£317.30 to Save the Children from Christmas Jumper day.
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Children from St Christopher’s supported the Age Concern Easter Egg Trail and raised over £1,000.
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Supported Epsom and Ewell Foodbank for Harvest Festival.
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Carol Singing in the Ashley Centre supported Epsom Medical Fund .
Financial review
a. Principal funding
The state of the School affairs at 31st August 2025 and its operations for the year ended on that date are set out in the attached financial statements.
The School made a surplus for the year of £39,168 before the transfer of net assets to RGS (2024: surplus of £85,837).
Following the transfer to RGS, the net outflow for the year was £1,686,583 leaving nil net assets in the charitable company.
The principal source of income is fees and related income, accounting for 99% of the School’s income. The Governors are continuing their strategy of deploying a significant proportion of net incoming resources to invest in the educational purposes and fabric of our Nursery and Pre-Prep.
As a charity, the parents of our pupils have the assurance that all the income of the School must be applied for educational purposes. As an educational charity, we benefit from tax exemption on our educational activities and on our investment income and gains, provided these are applied for our charitable aims.
In addition to the very substantial benefits our school brings to our pupils, the local community and society through the education we offer, our bursary programme and our ‘teaching links’ programme create a social asset without cost to the Exchequer.
Page 6
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 August 2025
b. Reserves policy
The Governors regularly review the finances, budgets and cash flows as part of their stewardship of the School. As part of this review, the Governors review the level of reserves at least annually in line with guidance issued by the Charity Commission.
The School is solely reliant on its fee income to sustain its activities. The Governors recognise that the appropriate level of reserves may fluctuate during periods of investment or due to changes in our fee income, as a result of unexpected fluctuations in pupil numbers.
Our reserves policy and the amount held as reserves is adjusted as our perception of any financial risk and other factors change. The level of reserves kept is based on two factors:-
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General Reserves to provide for unexpected and unpredictable needs.
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Designated Capital Reserves established in order to fund capital expenditure and other investments that would not be affordable if financed from a single year’s income.
At the end of our financial year 2024/25 total funds were £nil (2024: £1,686,583) of which total unrestricted funds were £nil (2024: £1,685,250) and total restricted funds were £nil (2024: £1,333). The closing value of our tangible fixed assets was £nil (2024: £394,980), leaving £nil (2024: £1,290,270) as free reserves.
Designated Capital Reserves - currently we have allocated capital reserves of £nil (2024: £100,000) to a roof repair fund.
General Reserves were previously set at a target range of 6 months of operating costs (c£880,000). The Trustees considered that that 6 months’ reserves was the appropriate level of time in order to allow them to assess and monitor the requirements of the School and to adapt to any significant financial changes.
Following the transfer of the activities and assets of the School, the Trustees do not consider it necessary to hold free reserves.
c. Investments policy
The Memorandum and Articles of Association of the Trust give the Governing Board the power to invest moneys not immediately required for its purposes in or upon such investments which it deems fit. The Board looks to maximise return whilst ensuring there is diversification of funds so as to reduce the School’s counterparty risk.
Diversification is achieved by holding a variety of deposits in different institutions that give access over a range of periods; short notice, 32 day notice and longer term fixed term deposits of up to 12 months. Funds are allocated between these deposit lengths in line with School’s predicted working capital requirements.
d. Going concern
Following the transfer to RGS, it is the intention of the Trustees to make plans for the orderly dissolution of the charitable company as soon as it is practicably possible to do so. For this reason, the Trustees do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements.
Further details regarding the basis of preparation can be found in the accounting policies.
Page 7
St Christopher's School Trust (Epsom) Limited (A company limited by guarantee)
Trustees' report (continued) for the year ended 31 August 2025
Structure, governance and management
a. Constitution
St Christopher's School Trust (Epsom) Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association (10 December 1964), and a deed of trust (1965).
The Governors, both as directors of the company and as the trustees, are legally responsible for the management of the charity. They are responsible for the management, operation, and overall control of the charity, including all matters relating to financial governance and grant making. Fees are set at a level to ensure the accessibility and financial viability of the school and at a level that is consistent with providing a first-class education to boys and girls.
Governors’ meetings, to which the Headteacher, Bursar, and Deputy Headteacher are invited, take place a minimum of three times a year. At those meetings, representatives of the Parents’ Association are invited to attend for specific items. If an agenda item requires additional information, teaching staff may be invited to attend the meeting to discuss a specific issue or present on areas of the curriculum. Additional meetings are held by the Finance committee, the Health & Safety group, the Safeguarding group, and the Compliance group.
The School bursar is also the Clerk to Governors and is responsible for co-ordinating the work of the Governors and their Committees and Groups, preparation of papers and management accounts and the review of matters arising.
b. Key management personnel
The Governors together with the Headteacher, the Bursar, the Deputy Head and Assistant Head comprise the key management personnel. The pay and remuneration of the Headteacher and all staff is set by the Finance Committee and is kept under annual review. A number of criteria are used in setting pay:
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nature of the role and responsibilities
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average salaries for comparable positions
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trends in pay
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performance of staff
c. Organisational management
The Governors determine the general policy of the School and review its overall management and control for which they are legally responsible. The day-to-day running of the School is delegated to the Headteacher, supported by the Senior Management Team (SMT). The Headteacher undertakes the key leadership role overseeing educational, pastoral, and administrative functions in consultation with the SMT. The day-to-day administration of the Nursery and Pre-Reception is undertaken within the policies and procedures approved by the Governors. Any significant expenditure decisions and major capital projects are referred to the Governors for prior approval.
d. Risk management
The Governors are responsible for the overseeing of the risks faced by the School. Detailed consideration of the risks is delegated to the Senior Management of the School. Risks are identified, assessed and controls established throughout the year. Risk is managed under the headings of financial sustainability, school safety, pupil welfare, employment, school trips and events and community access.
Page 8
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 August 2025
Structure, governance and management (continued)
The main risks that the Governors have identified and the plans to manage those risks are:
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Reputation: The School’s success is built on its reputation for the education and well-being of our pupils. We manage this risk through Safeguarding policies and procedures, staff safer recruitment policies, pastoral support for pupils and staff, active identification and resolution of health and safety related issues and tabletop exercises of our Critical Incident procedure.
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Finances: Our ability to continue is reliant on pupil fees and the ability to pay bills as they fall due. This risk is managed by marketing activity, having a reputation for academic excellence, active cash-flow management, and our Reserves Policy.
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Curriculum: Academic excellence requires the most able teachers with state-of-the-art facilities delivering the curriculum to able pupils. We manage this risk by combining attractive salaries, on-going investment in our premises and staff CPD, an approach to enrolment that works with supportive parents whose children have a love of learning and a bursary scheme that enables accessibility.
The Governors are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
e. Governor recruitment and training
Board members are elected at a full Governors' meeting and normally hold office for a minimum of 5 years. There may be no more than 15 and no fewer than 4 Governors. At each Annual General Meeting one-third of the members of the council (or if their number is not a multiple of three then the nearest number to one-third) must retire. The members who must retire are those who have been longest in office since their appointment or reelection. A retiring member of the council is eligible for re-election.
A new trustee undergoes a full induction process and competence is maintained through access to a variety of training media.
All trustees give their time freely and no remuneration was paid in the year. Governors are entitled to claim reasonable expenses incurred through attending relevant training courses. No Governor or person connected with a Governor received any benefit from means tested bursaries awarded to our pupils.
Governors are invited to school functions and also conduct focused visits to the School during the school day to gain an understanding of the teaching and administration methods.
The Governing body requires depth and breadth of experience to carry out its duties effectively and efficiently. We recruit new trustees that have a passion for St Christopher’s, an understanding of the importance of educating the whole child and ensuring the happiness and well-being of all pupils. We invite past parents and other suitably qualified personnel to consider joining our Board.
Governors consider that the skills and experience of the Board should comprise the following:
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A Governor with a legal background
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A Governor with a financial/accounting background
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A Governor with educational experience
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A Governor with senior managerial or business experience
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A Governor with experience of equal opportunities or disability needs
Page 9
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 August 2025
Structure, governance and management (continued)
f. Members' liability
The liability of each of the members, who currently number 4 (2024: 10) is limited to an amount not exceeding £1.05 in certain terms described in the company's Memorandum and Articles of Association.
Plans for future periods
The activities of the School are continuing within the RGS group.
Following the transfer to RGS it is the intention of the Trustees to make plans for the orderly dissolution of the charitable company as soon as it is practicably possible to do so.
Information on fundraising practices
The school recognises the contribution made by its supporters, with voluntary donations being a valuable part of the school's incoming resources. All fundraising activity is carried out by the PTA which is led by an elected committee of parents and operates independently from the school. This group raises money for the school through events and activities which are voluntary and advertised in a non-intrusive manner.
The school does not utilise the services of any external commercial fundraisers. Given that the majority of donations are from parents of current pupils, either direct or through the PTA, and only limited fundraising activity takes place, the school does not consider it necessary at this time to subscribe to a fundraising regulator.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 10
St Chrl$toph¢V$ School Trust (Epsom) Limited IA company limit¢d by guarantee) Trustees. report (continued) for the year ended 31 August 2025 D15¢1osur• of Informati¢)n to audltors Each of the wrsons ttho are Trustees at the time when this Trustees. r8iMxi is approved has confirmed that.. so far as that Trustee is aware. there is no relevant audit information of wlich the chantys auditors are unawaro. and Ihat Tnjstee has taken all the SWS that oughi to havè been taken as a Trustee in order lo be aware of any relevant audit Information and to estsblish that the charitys aud[tO aware of that infom)alion. Audltors Th8 audit registrabon of Kreston Reerns LLP was transfeThed to Kr8Ston Reeves Audit LLP on 6 Odober 2025. Kreslon R8eve$ Auijil LLP were forrTrally appointed as auditor to the company on 6 October 2025. Approved by order of the members ofthe Ix)ard of Trustees and signed on their bèhalf ty. Mrs H•ln Crossle Dat8.' Page11
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Independent auditors' report to the Members of St Christopher's School Trust (Epsom) Limited
Opinion
We have audited the financial statements of St Christopher's School Trust (Epsom) Limited (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Emphasis of matter – financial statements prepared on a basis other than going concern
We draw attention to Note 2.1 to the financial statements which explains that the Governors intend to dissolve the charitable company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2.1. Our opinion is not modified in respect of this matter.
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 12
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Independent auditors' report to the Members of St Christopher's School Trust (Epsom) Limited (continued)
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees 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 Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditors' 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 the Act and relevant regulations made or having effect thereunder.
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 Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Capability of the audit in detecting irregularities, including fraud
Based on our understanding of the charitable company and sector, and through discussion with the Governors and other management (as required by auditing standards), we identified that the principal risks of noncompliance with laws and regulations related to safeguarding, health and safety legislation and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities Statement of Recommended Practice, taxation and pension legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements.
Page 13
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Independent auditors' report to the Members of St Christopher's School Trust (Epsom) Limited (continued)
Audit procedures performed by the engagement team included:
-
Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including safeguarding, health and safety and employment) and fraud, and review of the reports made by management; and
-
Assessment of identified fraud risk factors; and
-
Challenging assumptions and judgements made by management in its significant accounting estimates; and
-
Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
-
Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant tax and regulatory authorities; and
-
Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and
-
Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charitable company's internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
-
Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' report to the related disclosures in the financial 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 Auditors' report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
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.
Page 14
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Independent auditors' report to the Members of St Christopher's School Trust (Epsom) Limited (continued)
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Kreston Reeves Audit LLP
Statutory Auditor Horsham
Date: 29 June 2026
Kreston Reeves Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 15
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) for the year ended 31 August 2025
| Note Income from: Donations and legacies 4 Charitable activities 5 Investments 7 Total income Expenditure on: Gift of net assets to Reigate Grammar School 17 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward 17 Net movement in funds Total funds carried forward 17 |
Unrestricted funds 2025 £ - 1,292,807 17,490 1,310,297 1,724,418 1,271,129 2,995,547 (1,685,250) 1,685,250 (1,685,250) - |
Restricted funds 2025 £ 1,200 - - 1,200 1,333 1,200 2,533 (1,333) 1,333 (1,333) - |
Total funds 2025 £ 1,200 1,292,807 17,490 1,311,497 1,725,751 1,272,329 2,998,080 (1,686,583) 1,686,583 (1,686,583) - |
Total funds 2024 £ 13,006 1,949,797 16,961 |
|---|---|---|---|---|
| 1,979,764 | ||||
| - 1,893,927 |
||||
| 1,893,927 | ||||
| 85,837 | ||||
| 1,600,746 85,837 |
||||
| 1,686,583 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 20 to 36 form part of these financial statements.
Page 16
St Christopher's School Trust (Epsom) Limited (A company limited by guarantee) Registered number: 00830735
Balance sheet as at 31 August 2025
| Note Fixed assets Tangible assets 14 Current assets Stocks Debtors 15 Cash at bank and in hand 20 Current liabilities Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 17 Unrestricted funds 17 Total funds |
- - - - - |
2025 £ - - - - - - - - |
2,427 388,224 1,674,708 2,065,359 (773,756) |
2024 £ 394,980 |
|---|---|---|---|---|
| 394,980 1,291,603 |
||||
| 1,686,583 | ||||
| 1,686,583 | ||||
| 1,333 1,685,250 |
||||
| 1,686,583 |
Page 17
St Chri5topherfs SchoolTrust {Epsom) Limlted IA company limited by guarantee) Reglstered number: 00830735 Balance she•t {¢ontinuetll as at 31 August 2025 The enlrty was entiled to exempti from audit under section 477 of the CpanIeS Act 2006. The membèrs hav8 not réquir8d th8 èntity to obtsin an audit for thé Jear in quèstion in acccdance with Se10 476 ofthe Companies Act 2006. However, an audit is r8quimd in accordance with sect)n 144 of the Charitios Act 2011. The Trustees ad[nOedge their restM)nsibilities for complying with the requirements of Ihe Act wlth respect to accounting records and prEparation offinancial ststements. The finanual staiernents trwve been prepaTe(J in aLrdan the pr1¥10n9 appIlble ¢0 entities subject to the small companies regirne. The financial gtatements were approved and auised for issue by the Trustees and signed on Iheir behalf by.. Mr¥ H•l•n Cros*l•y Dale.. Jsl0612£. The notes M pages 20 10 36 form part ol Ihese financ4 slatemanls. Page 18
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
| Statement of cash flows for the year ended 31 August 2025 Note Cash flows from operating activities Net cash used in operating activities 19 Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets Net cash provided by investing activities Cash flows from financing activities Cash transferred to Reigate Grammar School 21 Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 20 Cash and cash equivalents at the end of the year 20 The notes on pages 20 to 36 form part of these financial statements |
2025 £ 155,523 17,490 (5,099) 12,391 (1,842,622) (1,842,622) (1,674,708) 1,674,708 - |
2024 £ 121,553 16,961 (6,593) 10,368 - - 131,921 1,542,787 1,674,708 |
|---|---|---|
Page 19
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
1. General information
St Christopher's School Trust is a private company limited by guarantee, incorporated in England. The registered office and principal place of business is 6 Downs Road, Epsom, Surrey, KT18 5HE. The principal activity of the charity continues to be the provision of pre-preparatory school and nursery for girls and boys up to the age of 7.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements are prepared in Sterling (£) and rounded to the nearest £1.
St Christopher's School Trust (Epsom) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
On 30 April 2025, all the charitable company’s assets and liabilities were transferred at book value to Reigate Grammar School (“RGS”). The activities of the School are continuing within the RGS group. As a result, the charitable company had no assets or liabilities at the balance sheet date, and the financial statements reflect a £nil net asset position. In accordance with the agreement, it is the intention of the Trustees to make plans for the orderly dissolution of the charitable company as soon as it is practicably possible to do so. For this reason, the Trustees do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from government grants is recognised when the School has met the conditions or incurred the expenditure attaching to the grant and it is probable that the grant will be received.
Where invoices are raised before the year end in relation to the following year, they are included as deferred income.
Page 20
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
2. Accounting policies (continued)
2.3 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.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Expenditure on charitable activities includes school operating costs such as teaching, welfare, premises and support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
| Freehold property | - 2% straight line |
|---|---|
| Freehold Improvements | - 5-10% straight line |
| Fixtures and fittings | - 20% straight line |
| Computer equipment | - 50% straight line |
Page 21
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
2. Accounting policies (continued)
2.7 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs relating to the purchase.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of 12 months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.11 Financial instruments
The charity 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.
2.12 Operating leases
Rentals paid under operating leases are charged to the Statement of financial activities on a straightline basis over the lease term.
2.13 Pensions
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
The charity is a member of a multi-employer plan. Where it is not possible for the charity to obtain sufficient information to enable it to account for the plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.
Page 22
St Christopher's School Trust (Epsom) Limited (A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
2. Accounting policies (continued)
2.14 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Estimates are made in determining the useful lives and residual values of fixed assets when calculating the depreciation charge.
4. Income from donations and legacies
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2025 | 2025 | 2025 | |
| £ | £ | £ | |
| Donations | - | 1,200 | 1,200 |
Page 23
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
4. Income from donations and legacies (continued)
| Donations Legacies |
Unrestricted funds 2024 £ - 10,000 10,000 |
Restricted funds 2024 £ 3,006 - 3,006 |
Total funds 2024 £ 3,006 10,000 |
|---|---|---|---|
| 13,006 |
5. Income from charitable activities
| Unrestricted funds 2025 £ Teaching (note 6) 1,224,963 Premises 65 Before & after school care 67,779 1,292,807 |
Total funds 2025 £ 1,224,963 65 67,779 |
|---|---|
| 1,292,807 |
The purpose of 'Before & after school care' is to provide care for children attending the school who cannot be collected by their parent or guardian at the end of the school day.
| Teaching (note 6) Premises Before & after school care |
Unrestricted funds 2024 £ 1,844,963 130 104,704 1,949,797 |
Total funds 2024 £ 1,844,963 130 104,704 |
|---|---|---|
| 1,949,797 |
Page 24
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
6. Analysis of teaching income
| Unrestricted funds |
Unrestricted funds |
Total funds |
|---|---|---|
| 2025 | 2025 | |
| £ | £ | |
| Fee income | 1,233,008 | 1,233,008 |
| Uniform income | 244 | 244 |
| Discounts | (6,123) | (6,123) |
| Bursaries | (2,166) | (2,166) |
| Total 2025 | 1,224,963 | 1,224,963 |
| Unrestricted funds |
Total funds |
|
| 2024 | 2024 | |
| £ | £ | |
| Fee income | 1,856,875 | 1,856,875 |
| Uniform income | 885 | 885 |
| Discounts | (12,797) | (12,797) |
| Total 2024 | 1,844,963 | 1,844,963 |
7. Investment income
| Unrestricted funds 2025 £ Investment income - bank interest 17,490 Unrestricted funds 2024 £ Investment income - bank interest 16,961 |
Total funds 2025 £ 17,490 |
|---|---|
| Total funds 2024 £ 16,961 |
Page 25
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
8. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2025 £ Teaching 891,788 Premises 183,083 Ancillary and other 181,874 Charitable donations from collections 24 Expenditure on governance 14,360 1,271,129 |
Restricted funds 2025 £ - - - 1,200 - 1,200 |
Total 2025 £ 891,788 183,083 181,874 1,224 14,360 |
|---|---|---|
| 1,272,329 |
| Teaching Premises Ancillary and other Charitable donations from collections Expenditure on governance |
Unrestricted funds 2024 £ 1,379,664 258,657 233,372 58 19,170 1,890,921 |
Restricted funds 2024 £ 1,844 - - 1,162 - 3,006 |
Total 2024 £ 1,381,508 258,657 233,372 1,220 19,170 |
|---|---|---|---|
| 1,893,927 |
9. Analysis of expenditure by activities
| Teaching Premises Ancillary and other Charitable donations from collections Expenditure on governance |
Activities undertaken directly 2025 £ 891,788 183,083 181,874 - - 1,256,745 |
Grant funding of activities 2025 £ - - - 1,224 - 1,224 |
Support costs 2025 £ - - - - 14,360 14,360 |
Total funds 2025 £ 891,788 183,083 181,874 1,224 14,360 |
|---|---|---|---|---|
| 1,272,329 |
Page 26
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
9. Analysis of expenditure by activities (continued)
| Teaching Premises Ancillary and other Charitable donations from collections Expenditure on governance |
Activities undertaken directly 2024 £ 1,381,508 258,657 233,372 - - 1,873,537 |
Grant funding of activities 2024 £ - - - 1,220 - 1,220 |
Support costs 2024 £ - - - - 19,170 19,170 |
Total funds 2024 £ 1,381,508 258,657 233,372 1,220 19,170 |
|---|---|---|---|---|
| 1,893,927 |
Analysis of direct costs
| Staff costs Depreciation Academic Administration Property Financial Total 2025 |
Teaching 2025 £ 757,874 - 34,846 87,797 - 11,271 891,788 |
Premises 2025 £ 19,365 27,492 - - 136,226 - 183,083 |
Ancillary and other 2025 £ 181,874 - - - - - 181,874 |
Total funds 2025 £ 959,113 27,492 34,846 87,797 136,226 11,271 |
|---|---|---|---|---|
| 1,256,745 |
Page 27
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
9. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Depreciation Academic Administration Property Financial |
Teaching 2024 £ 1,211,201 - 70,699 85,162 - 14,446 1,381,508 |
Premises 2024 £ 51,542 47,602 - - 159,513 - 258,657 |
Ancillary and other 2024 £ 233,372 - - - - - 233,372 |
Total funds 2024 £ 1,496,115 47,602 70,699 85,162 159,513 14,446 |
|---|---|---|---|---|
| 1,873,537 |
10. Analysis of grants
| Grants to | Total | |
|---|---|---|
| Institutions | funds | |
| 2025 | 2025 | |
| £ | £ | |
| Charitable donations from collections | 1,224 | 1,224 |
All grants paid in the current and prior year represented restricted charitable donations received from collections and were recorded as income and expenditure from restricted funds with the exception of donations made directly by the school which were paid from both restricted and unrestricted funds as shown in note 8.
| Grants to | Total | |
|---|---|---|
| Institutions | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Grants, Charitable donations from collections | 1,220 | 1,220 |
Page 28
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
11. Auditor's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's auditor for the audit of the charity's annual | ||
| accounts | 10,500 | 13,380 |
| Fees payable to a fellow group entity of the charity's auditor in respect of: | ||
| All non-audit services not included above | 1,250 | 4,560 |
12. Staff costs
| Wages and salaries Social security costs Contributions to pension schemes (see note 22) |
2025 £ 748,855 71,299 138,959 959,113 |
2024 £ 1,209,568 94,367 192,180 |
|---|---|---|
| 1,496,115 |
The average number of persons employed by the charity during the year was as follows:
| Teaching - Full time Teaching - Part time Administrative and ancillary staff |
2025 No. 11 23 13 47 |
2024 No. 10 26 13 |
|---|---|---|
| 49 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2025 | 2024 | ||
|---|---|---|---|
| No. | No. | ||
| In the band £60,001 | - £70,000 | - | 2 |
| In the band £90,001 | - £100,000 | - | 1 |
The charity considers its key management personnel comprises the Head teacher, Deputy Head, Assistant Head and the Bursar.
Page 29
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
Key management personnel
| Wages and salaries Social security costs Other pension costs |
2025 £ 156,782 19,137 36,298 212,217 |
2024 £ 268,995 32,100 54,797 355,892 |
|---|---|---|
13. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 August 2025, no Trustee expenses have been incurred (2024 - £NIL).
14. Tangible fixed assets
| Cost At 1 September 2024 Additions Transferred to RGS Disposals At 31 August 2025 At 1 September 2024 Charge for the year Transferred to RGS On disposals At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024 |
Freehold property £ 182,291 - (182,291) - - 147,763 2,431 (150,194) - - - 34,528 |
Freehold improvem'ts £ 722,170 - (722,170) - - 370,737 22,814 (393,551) - - - 351,433 |
Fixtures and fittings £ 182,650 5,099 (167,454) (20,295) - 173,631 2,247 (155,586) (20,292) - - 9,019 |
Computer equipment £ 70,474 - (63,437) (7,037) - 70,474 - (63,437) (7,037) - - - |
Total £ 1,157,585 5,099 (1,135,352) (27,332) |
|---|---|---|---|---|---|
| - | |||||
| 762,605 27,492 (762,768) (27,329) |
|||||
| - | |||||
| - | |||||
| 394,980 |
Page 30
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
15. Debtors
| Due within one year Trade debtors Prepayments and accrued income |
2025 £ - - - |
2024 £ 369,637 18,587 |
|---|---|---|
| 388,224 |
16. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income Deferred income Deferred income at 1 September Amounts released from previous periods Amounts received and deferred during the year Released upon transfer of net assets to Reigate Grammar School Deferred income at 31 August |
2025 £ - - - - - 2025 £ 537,590 (537,590) 624,602 (624,602) - |
2024 £ 6,240 21,534 160,646 585,336 |
|---|---|---|
| 773,756 | ||
| 2024 £ 503,237 537,590 (503,237) - |
||
| 537,590 |
Where invoices are raised before the year end relating to the autumn term, they are included as deferred income.
Page 31
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
17. Statement of funds
| Statement of funds | ||||
|---|---|---|---|---|
| Statement of funds - current year Unrestricted funds Designated funds Roof repair fund General funds General Funds Total Unrestricted funds Restricted funds Charitable Collections Fund Bursary Hardship Fund Total of funds |
Balance at 1 September 2024 £ 100,000 1,585,250 1,685,250 - 1,333 1,333 1,686,583 |
Income £ - 1,310,297 1,310,297 1,200 - 1,200 1,311,497 |
Expenditure £ (100,000) (2,895,547) (2,995,547) (1,200) (1,333) (2,533) (2,998,080) |
Balance at 31 August 2025 £ - |
| - | ||||
| - | ||||
| - - |
||||
| - | ||||
| - |
Designated Funds have been established by transfers from General Funds in order to fund future capital expenditure. The funds were allocated towards roof repairs.
The Charitable Collections Fund represented funds raised on behalf of various charities, which are then paid to those charities as donations.
The Parent Teacher Association Fund represented funds raised and donated to the school by the Parent Teacher Association with specific restrictions placed on the use of the funds.
The Bursary Hardship Fund represented donations received from parents equivalent to discounts they were given. This money was held in a separate fund to be used to provide additional bursaries.
Included within expenditure is the gift of net assets to Reigate Grammar School where funds totalling £100,000 of designated funds and £1,625,751 of general funds were transferred to Reigate Grammar School on 30 April 2025.
Page 32
St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
17. Statement of funds (continued) Statement of funds - prior year
| Unrestricted funds Designated funds Roof repair fund General funds General Funds Total Unrestricted funds Restricted funds Charitable Collections Fund Parent Teacher Association Fund Bursary Hardship Fund Total of funds |
Balance at 1 September 2023 £ 100,000 1,499,413 1,599,413 - - 1,333 1,333 1,600,746 |
Income £ - 1,976,758 1,976,758 1,162 1,844 - 3,006 1,979,764 |
Expenditure £ - (1,890,921) (1,890,921) (1,162) (1,844) - (3,006) (1,893,927) |
Balance at 31 August 2024 £ 100,000 |
|---|---|---|---|---|
| 1,585,250 | ||||
| 1,685,250 | ||||
| - - 1,333 |
||||
| 1,333 | ||||
| 1,686,583 |
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St Christopher's School Trust (Epsom) Limited (A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Ttl |
Total funds 2025 £ - - - |
|---|---|
| - |
Total
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 394,980 2,064,026 (773,756) 1,685,250 |
Restricted funds 2024 £ - 1,333 - 1,333 |
Total funds 2024 £ 394,980 2,065,359 (773,756) |
|---|---|---|---|
| 1,686,583 |
19. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Loss on the sale of fixed assets Decrease/(increase) in stocks Decrease/(increase) in debtors Increase in creditors Transfer of net assets to Reigate Grammar School Net cash provided by operating activities |
2025 £ (1,686,583) 27,492 (17,490) 3 (225) 28,367 78,208 1,725,751 155,523 |
2024 £ 85,837 |
|---|---|---|
| 47,602 (16,961) - (1,346) (14,142) 20,563 - |
||
| 121,553 |
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St Christopher's School Trust (Epsom) Limited
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
20. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2025 £ - - |
2024 £ 1,674,708 |
|---|---|---|
| 1,674,708 |
21. Analysis of changes in net debt
| Cash at bank and in hand | At 1 September 2024 £ 1,674,708 1,674,708 |
Cash flows £ 167,914 167,914 |
Transferred to RGS £ (1,842,622) |
|---|---|---|---|
| (1,842,622) |
Following the merger with Reigate Grammar School, all remaining cash was transferred leaving nil balances for cash and debt at 31 August 2025.
22. Pension commitments
Defined contribution pension scheme
The school operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the school in an independently administered fund. The pension cost charge represents contributions payable by the school to the fund and amounted to £23,161 (2024: £25,495) and there were contributions due of £Nil (2024: £2,169) at the year end included in other creditors.
Contributions in respect of the company's defined contribution scheme are charged to the income and expenditure account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
Teachers' pension scheme
The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £115,797 (2024: £166,271) and at the year-end £Nil (2024: £14,814) 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). 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.
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St Christopher's School Trust (Epsom) Limited (A company limited by guarantee)
Notes to the financial statements for the year ended 31 August 2025
22. Pension commitments (continued)
The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report, which was published in October 2023, confirmed that the employer contribution rate for the TPS would increase from 23.6% to 28.6% from 1 April 2024. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.
23. Operating lease commitments
At 31 August 2025 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2025 £ - - - |
2024 £ 1,392 1,740 |
|---|---|---|
| 3,132 |
The following lease payments have been recognised as an expense in the Statement of financial activities:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Operating lease rentals | 696 | 1,272 |
24. Members' liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1.05 for the debts and liabilities contracted before he/she ceases to be a member.
25. Related party transactions
The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 August 2025.
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