Registered Company Dumber: 964771 lÉn818nd and Wales) Re815tered Charlty number,. 312058 GOVERNORS, REPORT AND FINANCIALSTATEMENTS FOR AMESBURY SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE} FOR THE YEAR END 31 August 2025
AMESBURY SCHOOL TRUST LIMITED ILIMITED BYGUARANTEEI LEGAL AND ADMINISTRATIVE INFORMATION Governors LA Buchanan Iresi8ned 15 May 20251 C Decker Ichairl K L Davies l D Ferguson D Garrod Dr R S Klrkham Iresigned 19 June 20251 P Mundy S Patel S M Perrett (Vice Chairl H F D Sturges J Tait-Harris J R Welham Head G Franklin BLtrsar and Clerk tothe Governor5 S L Jones Charity Number 312058 Compary Number 00984771 Reglster¢d Office & Prlnclpal Address Arnesbury School Hazel Sr(we Hindhead Surrey GU26 68L Audkors TC Group The Courtyard Shoreham Road upper Beeding 5teynin8 Wesi Sussex BN44 3TN United Klngdom W¢bslte aMesburyschool.co.uk
AMESBURY SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE) CONTENTS Page Governors, RepoTI Statement ol Governors, Responsibilities Report of the INdendent Auditors io Statement ol Financia5 Activities 14 Balance Sheet 15 Cash Flow Statement 16 Note5 tothe Financial Statements 17
AMESBURY SCHOOL TRUST LIMITED ILIMITED BYGUARANTEEI GOVERNORS, REPORT The Governors, who are of CoMpaY law and Trustees for the purposes of charity law. present thelr Directors for the purposesannual report together with thefinancial statements ofthe charitable company for theyear ended 31 Au8USt 2025. The School is governed by it5 Articles ol Association last amended on 2 December 2015. Goveming Body The Governing Body is self-appointing. New Governor5 Serve for an initial terrn ending at the AGM following the third nniver5ary OF their appointment. They are then eligible for re*lection for a wnaximum of two sutcessive terms trf three years. A Governor having seNed for three Successive terrns shall not be reappointed as a Govemor without a break of at least twelvt months unle55 the other Governors waive this requirément. Retrultment and tTalnlng of Goverb)or5 Nornination5 for new Govemors are sought through introductions from existing Governors, the Heèd or the Bursar based on the canéidate5' professional quèlities. experience, personal competence and local availability. Where guitable tandidates are not appointed in this w3y, advertisements are placed relevant places eg. AGBIS, TES, Llnkedln. Particular regard is gven to the need to maintain a range of skills within the Governing Bodyi including finance, education. pastoral, property, marketin& health and safety. IT and human resources expert15e. New Governors are provided with ilbduction support, including a tour of the school, discussitsns with senior staff, the Chair of the Governing Body and other governor5. All Governors are encouraged to attend relevant conlerences and tralning seminar5 organised by AG81S and other providers. Training is prowded online and thTou8h workshop 5esyons at the school. All Eovernors take their responsibilities serlously, with pariicular reg3rd to the importance ol operating in an environment where the safeguarding and pwotection of children is raMount. All Governors have received training in safeguardin& PREVENT and e-safety. Governors are particularty constSous of their responsibilityto regulady monitor and evaluate the effectiveness of th& school's policiesand procedures, Arrangements via the committee and meeting structuresenablèthis to happen. They pay particulai regard to the irMplication5 01 the law. related procedures and best practice. Organisatbonal management The members of the Governing Body are legally responsible fof the overall management and control of the School. They normally rneetthree time5 a year. Much of the detailed work of overseeing policies is carried out by Committees of the Governing Body, which also meÈt lor a minimum of three times a year. The day-to-day running ol the School is delegated to the Head and Bursar, who attend all Meetings of the Governin8 Body and its committees.
AMESBURY SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE) GOVERNORS, REPORT (CONTINUED) The principal spOnsIbl11112S of the Governors, committees are as follows: lil The Finance 3nd Facilities Committee oversee5 financial control ol the School and monitors strate8ic risk management, as well 3s supervises and monitgr5 Capital building projects and maintenance. Chair.. Hush Sturges. 121 The Ellucatlon and Safeguarding Committee ff¥)nor5 and evaluate5 the Schoofs educational aud pastoral policie5 and performance and oversees all safe8uarding areas including pastoral welfare, safeguarding training and recruitment checks. Chair.. James Welham. 131 The Nomlnations & Governance Committee is responsible for Governor recruitment and 5uccesslon planning and overseeithe School's other8overnanc processes. Chair.. lan Ferguson The commlttees and their membership durin8 the year were.. Trustee Tenurè as governor Aesi8ned May 2025 6 years L A Buchanan K L D3vies Ichairl C K Oecker 2years 3years l D Fer8USD O E Gorrod l year Resigned June 2025 R S Kirkham P Mundy S V Patel l year l year S M Perrett 5 years H F D Slurges 4 years J Tait-Harris 2 years 3 yèars J R Welhhm In additioTh to the COMrnteeS above, Governor5 Slt in an advisory capacity on the lollowlng management committees: Marketin& Health & Safety 3nd Di8ital. The Head and Bursar are supported by the Senior Leadership Team, whD together constStute the key management personnel of the school. Remun@r3tion policy is Set by the Governlng Body, with the objective5 of attracring high calibre staff and fairly and responsibly rewarding individual CDntributions to the School's svcce55. The 3ppropriateness and relevance of the iemuneration PDlicy is rÈviewéd annually. including reference to comparison5Wlth other independent Schools and the state sector to ensure that the School remains sensitive to the broader ie5 of pay and empltsyment concfitions elsewhere.
AMESBURY SCHOOL TRUST LIMITED {LIMITED BY GUARANTEEI GOVERNORS. REPORT (CONTINUED) Obje¢tive5 and artiyities Amesbury SchorJl'5 over-arching purpose is the advancement of education throu8h an ind&pendÈnt nursery, pre- preparatory ancj preparatory school for boys and girls between the ages of nine month5 and 13 years. This schooling is non-selective at point of entry on grounds ol zcademic standard, race, religion or belief. Amesbury encourages partSdpation in the ac3demic, sportin& musical and artistic activities of theschool by members of the local comrnunity who would not Dtherwi5e havE Amesbury's quality of teachin8 and facilities 3V3ilable tothem. In addition, sports and otherfacilities are opened up lor local communitv Use outsideof school hour5 and during school holidays. The School has strong links with other independent and Statè sector schools and actively seeks to develop these lÈnks. Our primary alm at Amesbury is to ensure that every child enjoys a fulfillirbg and enrlchln8 educational journey. We slrive to create an environment where each student feels valued, supported, and empowered to leach their full FKJtenii31. Specilicallyi our Sthool aims remain to.. Develop in every child the necessary skills. aptitudes, and abiliiies to enable them to become emotionally resilient independEllt learnei5. Develop 3 rIng community withrn the school by encouragin8 commitment, courtesy, co-operation. tolerance, and compassion towards one another whilst understanding ihat everyone is a member of a wider cornrnunity. Promote and nurture a close relationship between home and school in the partnership of education. Fulfil our social and environmental responsibilities to society. Provid¢ all stakeholdèrs with a model of organisatlonal excellence. The khcol Dwelopment Plan ISDPI was updated in the Trinity term 012025, to come into eflect for Michaelmas 2025 in linè wth these School aims bv.. I. F05terlng Resilience,. Objectives l and 2 focus on emotional wellbeing and academic succÈ5s, which underpin resilience and indepÈndence. Bullding Community: Objettlves 4 and 5 create a carin8, inclusive eDvironment where puplls and staff collaborate and thrive. 3. 5tren8¢henlnB Partnerships: Objertives 3 and 5 empha515e parental involvement and shared 8oals between home and school. 4. Environmental ResponslbHlty.' Objective 6 integrates 5U5tainability and global cititenship into the currfculum. 5. Ensuring Excellence.. Objectives 3 and 4 promote consistent, high-quality practices acros5 the school. 6. Developln£ Staff: CPLI initiatives embedded throu8houtthe objectives empcpwer staff to grow prole55ionally and contribute meaningful. SpecifIlIV, the followin£ objectives in the SDP were agreed., l. Foster a culture where students are actively encotjraged and supported to vo(ce thelr vlews, COnms, and Ideas, promoting social and emotional wellbeing. 2. Priorilise literacy and numeracy withln the curriculum, with personalised support to enhance academlc progress. 3. Enhance digital literacy by inte8rating advanced digital too15 and technologiès for 21st-century learning. 4. PromDte equality and Inclusity. ensuring equal opportunities and support for all students, including those with protected characteristics. 5. Deliver a balanced academic and pastoral PfOV15ion tl)at support5 pupils, Intellectual, social and emotional evelopment.
AMESBURY SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) GOVERNORS. REPORT (CONTINUED) 6. Integrate environrnental and social educatlon into the curriculum to develop @lobal citizenship and problem" solving skills. Ensure excellent teachin8throuBh evidence-ba5ed practice, professional growth and the sirateBiC use of data to inform planning and intervention. Each of these objective5 has a documented sub-set of more detailed strategies and tactics designed to allow the main objeetive to be achieved. Publlc Benèfit The Governors are mindful ofthe long-standing need to provide public benefitand of thé requlrements olthe Charitles Act 2011 in setting the School's aims and objective5 and planning the School's activities. Duringihe year ended 31 August 2025, in accordance with sertion 4 of the Charities Act 2011, the Govemors had due regard to the Charlty Commission's public benefit guidance. as published in September 2013 following the 2011 decision of the UpperTribunal and sybsequent revisions. The School has provided means-testèd financial assistance durin8 the 2024125 year amounting to £61,76612023124.. £58.8981. Furthermore. the Ame5bury Foundation fund has been constituted to provide buisBries for p3r2nt5 of children who would benefit from an Amesbury education. The Foundation fund has a remaining balance of £65334 12023124 £65,0781. In addition to bursaries, the school has long engaged in many aitivities thèt provide beneftt to the public within the School'5 objectives, as well a5 some comthunity benefit activities beyond the Scope of those objective5. On the sports field. we were delighted to hold an annual football tournament for 20 local club and school sidès. We gntinue to offer fixtuos to local primary schools. Ame5bury is regularly used as an ad hoc exam centre for L4MDA, ABRSM and ISTD examinations and local children from state schools have made use of thi5 in the past. As part of our Amesbury Award and le Skills programme, our eldest childrenvisit care homes in the local community. The Amesbuly community donated food which our pupils delivered to th@ Food Bank in Haslemere as part of our Harvest service. Communlty Relationshlps The School work5 in association with local clubs. other charities and other xhools in its ongoing endeavoursto wden public acce5S to itsfacilities and to awaken in it5 pupils an awarenessof the social contextof the educationtheyreceive at school. Every evening and at the weekend5, local clubs and charities use Amesbury's faciltIeS for a mlnimal charge alculated to cover costs. Rlsk Manazement The Governors have examlned the major strategic, busines5 and operational ri5k5 to which the School is exposed and confirm that procedures have been established to mitl8ale or reduce risks wherever possible and to insure against 311 normal business risks. such as public and employef's liability and property loss and damage. A register of risks has been developed and caiÈgorised and sub-committées of the Board, individual Governors or executives have been made responsible for identifying, as5e5siTrg and monitoring thÈ risks in each category. The risks identified are monitDred and updated on an annual basis and approved by the Finance CDmrnittÈe and Full Board.
AMESBURY SCHOOL TRUST LIMITED ILIMITEO BY GUARANTEEI GOVERNORS, REPORT (CONTINUED) Emplt)yment pollcy The School is an equal opportuNitle5 employer. Full and fair con5ideratlOll 15 Eiven to job applications from disabled persons and due consideration is glven to their training and employment needs. Consultation with employees. ortheir representatives, ha5 continued at all levels with the aim of taking theviews ol employee5 into account when d&cisions are made that are likely to affect their interests. Employees are made aware of the financial and economic performance of the School. Communication with employèes continues through normal management channels in a variety of forms ènd includes awareness of the school'sfiftancial perfomiance as well as current educational update5 and safeguarding. REVIEW OF ACHIEVEMEMfs AND PERfiiRMANCE Educational Events and Athievement5 In the Trinity term of 2025, Amesbury underwent an ISI inspection under the new framework and a visit from OFsfED to our Little Amesbury settin8. The School was delighted to receiv& positive reports from both agencies highlighting the quality of ihe educational provlsion and the strc¢ng organi5ational 5truciures, processes and culture in place. The report was shared wlth all stakeholders and Is a publicty available document on the School's websfjte. The School ended the year with 2701202312024.. 2791 full time Prep and Pre.Prep pupils. A furthei 83 children ttendèd one or more days in Bèbie519 months to 2 years), Pre-Nursery lage 241 or Nursery lag& 3+1 se55ions per week. Ame5bury prides itsÈllon the wide range of senior schools, for which it prepares its pupils. sts as to best fit Ihe various academic. sportin& artistic and musical abilities and aspirations ol the children and their pants. To this end, the Head and Senior leadership Team maintain close relationships with many senior schools, arrange regular c¢ntact sessions between them and Amesbury's pupils and p3r2nts and ensure the pupils are well piepared for not only examinatrons but also interviews and other selection techniquÈs used by thèi¥ preferred choices. Therè were 38 leaver5 from Y6 and Y8 in July 2025 who went on to 16 different senior 5chools/prep schools, induding 7 with scholarships. Senior Schools-lscholarships in boldl Bohunt 8riti5h International School. Abu Dhabi Chartethouse Dubai College Frensham Heights Krng Edward's Wltley Prior's Fleld School The Royal Grammar School. Gulldford Brldge House School, Souih Africa Brilish International School, Cascai5 Churcher's College Ditchzm Park School Hurstpierpoint College Lord Wandsworth College Seaford College Tormead school Wellbeing pro8ramme Recognlsing the inwortance of mental health support for our students, a Head of Mental Health & Wellbeing is now employed by the school and work5 closely wlth the children who need 5UPPOrt. In addition. a clinical psychologist works on-site every Friday throughout the school year to support school children and their families. This invaluable resource has provided students with easy acce5$ to prolession31 psychtslogical support. allowing them to discuss any concerns and rèceive guidance on coping strategies and interventions. This has not only helped to address individual needs but has also contributed to a more Inclusive and supportive school environment. The embedding ol Pa51oTal Heads of Section has formalised and enhanced the pastoral structure wiihin the school, enguring that each 5tudent'5 wellbeing is closely monitored and appropriate5y supportèd. These dedicated staff
AMESBURY SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) GOVERNORS, REPORT (CONTINUED) member5 have been responsible for rnaintaining a clear line of communication between students, parents and school staff. allowing for timely and effective intervention when nessary. The Wellbei¢)g Aub, which is open and available to pupils during break and lunchtime. prDvides students with a safe and welcoming Spa to relax, sociali5e, and acce55 SUPPOft when needed. This resource has been particularly beneficial for students who may feel overwhelmed or anxious duringthe busyschod day, offering a quiet and calmin8 environment to recharge and seek gtEidance frorn stalf rnembers. Charltablè Aalvlties and Donations ThÈ Charitie5 Act 2011, section 3. specifically reco8n15ès Amesbury's overarching objective the advancement of education - as a charilable purpose. The School's d8y.to-day ¢eaching activities also invcilve several other charitablo purposes recognised by the Act relating to sport, arts, culture, herita8e, science, tstiienship and community. Within that wider definition of education, Amesbury encoura8es acrlve involvement of staff, pupils, and parents in a school charities programme each year. The specif1c airns set for the programme in 2023124 were= iii to raise awareness in the children of the work of each charity and the reason lor its existénce.. to teach the children commitment to a charity and to Follow Its work over a period of time,. to fund-raise ImaEinatively and independently for the year's chosen char*ties- to understand that charity is not only aboutfundraising but is also concerned with theglving of time, skllls. and effort- to instil an appreciation of their own good fortune and develop a tolerance, sensitivity and understandinE of the needs of others. 151 In the Academic year of 2024-2025, the School introduced a new international charity, Hope and S¢ul based in Tanzania. It was also decided to continue to support the followlng charities.. knphook Foodbank, PtlgTim's Retirement Flome and the Phyllis Tuckwell charity. In the Michaelmas term 2024. the school sold Christmas cards and gifts through Clas5 Fundraiser. Pupils in Year 7 ran stalls to raise money for Liphook foodbank and we donatèd produce frDm our harvest festival to Liphook food bank and PSlgrirn'5 retiremeni home. The children also raised money for Phyllis Tuckwell with a reindeer run. Thewhple school charity event was run in the Trinity term 2025 hosted by the children. Th&5e involved stalls run by the children. a dunk-the-tea¢her event and 3 charity Concert, as well as a family BBQ and drlnks. The money raised from this event went towards the School charfties. FINANCIAL REVIEW Result foi the year Unrestricted income for the year increased to £6,123,606 liom £5,833,269 in 2023124, an increase of5.. This was due to an increase in donations and investment iricome as wèll as income from charitable activities. Resource5 expended increased by 4.9% to £6,018,007 from £5,738,099 due mainlyto increased stsff costs. The overall result is a net movement ol funds in 2024125 of £105,59912023124 - £95,1701. Capltal Expendlture and balance Sheet The balance sheet as at 31 August 2025 shows an increase In total funds of £105.599 to £5,306.009. The school has continued to remain cash positive with no requirement to draw on its overdraft facility lor day-to-day operations. Capital expendiiure of £105,977 was Spent in the year, the main projects being the build¥ng of a new Early Years Stall Room, a replacernent artificial cricket strip on Fylield and enhanced security access to the school site.
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT (CONTINUED) Assets Value The Governor5 have considered the tarrying values of the fehOld properties and in their opinion there has been no imp3irrnenl to the values shown in the accounts. Outlook lor 2025126 The key educational objectives for the future remain as set out above. The Governors are keen to ensure that the estate continue5to devÈlop to allow a full and inspiring learning environment forthe pupils and that teaching facilities remain leading-edge. Planned capital projects include the continued improvement of IT facilities, the upgrade of windows and the refurbishment of the uniform shop into additional stall accomrnodation to support the boarding need5 of the pupils. The School's budget lor 2025126 reflect5 the continuation of the desire to continue Improving and updating leaming and educatiorb spaces alongside a streamlining of the ¢Dsi base to ensure a robust financial model ready to meet the external financial challenges ahead. The ongoing challen8es faced include the introduction of VAT at 20% on school fees from january 2025, the removal of buslness rates relief in April 2025 as well asthe change in employerfs National ISUranCe contribLrtions from April 2025. These factor5 will inevitably have an impact on surpluses going forward, with the impact mitigated, at least in part, by adept fifiancial planning and proactive zction. Announcement of merger wlth Charterhouse On 16th March 2026, the Board announced that Amesbury School would be mergin8Wlth Charterhou5e School on 1st Au8USt 2026 to join the Charterhouse Family of Schools. The announcement followed nearly a year of joint work by the Governors and Heads Df both schools to understand the opportunities a partnership would provide to 211 parties. and to consider and confirm the alignment of the ethos and vision of the two schools. Und2rthe 3rrangemÈnts of the merger, Amesburyschool Trust itd will become part of Charterhouse School. For many vears. the two schools have enjoyed a very positive relationship, with an incieasiD8 number Lif Ame5bury pupils now ffloving onto Charterhou5e in Ye3r 9. This partnership creates a combined foundation within which Ame5bury and Charterhouse will operate, preservingthe unique identity of each school. Amesbury is Ihethird prep School to join the Charteihouse Family of Schools in recent year5. The merger between Amesbury and Charterhouse will provide educational benefits through shared expwtise and eypanded opportunities, linancial adwantages wlth greater cost efficiencie5 and Improved facilities, and continued stability Wtth separate leadership, whilst prÈservin8 each school's identity and traditios. Amesbury School Trust Ltd will be wound up as part of thi5 merger process and thèrefore the accounts have not been prepared on a going concern basis. RESERVES POUCY Educaiion is a hi6hly capikal-inlen5Ne aciivity, especially in relation to the land, buildings, lixture5 and Èquipment ne2ded in the operation of 3 school. Since its foundation, the School has owned the freehold site, centred aiound its gr3de 2 listed main school buildin6* which is the only purpose-de5igned school by Slr Edwin Lutyens in the UK. Over the y¢ar5. substantial investment has been madÈ in th2 original Lutyens building and new building5 and facilitie5 have been added within the site to ensure that the School can continue to provide 3 top-quality education that matches pupil needs and parental expectations. In an ideal world,the Governors would liketo have unrestricted reservessufficientto match the aggregate investment in the core fixed assets essential for the purposes of running the School and nursery (currently £5.5m excluding the core assets paid for out of restricted resewesl, plu5 "free reserves" equal to one term's outgoings as a contingency agalnst unfDreseen financial shocks (approximately £1.9ml.
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE} GOVERNORS, REPORT (CONTINUEDI In practict, however, the School's only material source of reserves growth is any annual surplus generated by the operations of the School. In line with previous y2ars, the Governors have therefore accepted the need to manage the risk of unforeseen ftnancial shocks through tl8ht bud8eting and financial CotrCI15. Each year, as part olthe budgeting prOs$ and especially in advance of any major investment project, the Governor5 ensure that expected cash flows are sufficient to meet both planned capital investment and scheduled rep3yments of the non-core funding Sources s21 Out above and thai 3ny reliance on short term bank borrowinBS can be repaid from projected cash flow surplu5e5 over no more than S years. In this regard. at the end of 2L)24125 and takin8 into account the budgeted income and expenditures lor 2025126, Ihe GoveTfFors are satisfied that the Trust's reserv25 are adÈquate to Sustsin Am*sbury's educètional operations for ihe fclreseeable fulure. flnanclal Instruments Thè School's activities expose it lo a nurnber ol financial risks including, cash flow risk. interest rate risK credit riskand Cash flow rlsk The School monitor5 ils cashflow risk throu8h tsreful monitoring of expected furure cashflows, ensuring that there is always prudent Cushion headroom within agreed boriowins limits. Interest rate risk The School's activitie5 expose rt primarily lo interest rates. Interest bearing asset5 3nd liabilitles are held at fixed and variable rates. The annu85 report was approved by the Guvernors of ihe charity on .o).s.lllalJand signed on its behalf by- S Llones Company Secretary
AMESBURY SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI STATEMENT OF GOVERNORS, RESPONSIBILITIES The Gowernors. who are also the directors of Amesbury School Trust Limited for the purpose of company law. are responsible lor preparing thè Governors, Report and the account5 in acctrrdan with applicable law and United Kingdom Accounling Standard5 (United Kingdom Generally Accepted Accounting Practicel, includin8 Financial Reporting Standard FRS102 Yhe Financral Reportin8 Standard applicable in rhe UK and Republic of Ireland,. Comp3ny13w requires thè Governors to prepare accounts for each financial yearwhi¢h give a true art(J fair view of the State of affairs of the chariÈable company and of the incorning resources and application of resour5, includinE the incorne and Èxpenditure, of the charitable cornpany for that year. In prèparing these accounts, the Governors are required to.. select suitable accounting policies and then apply theFn consistentlv: observe the method5 and principles in the Charities SORP,. make judgements and estimate5 that are reasonable and prudent.. and prèpare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will Continue in operation. Thè Governors are responsible lor keèping proper accounting records that disclose with reasonable accuracy at any time the financial p051tion of the charitable companyand enable thern to ensure that the accounls comply with the Companies Act 2006. They 3re èlso responsible for Safeguarding the assets ol the chaiitable company and hence lor taking reasonable 5tep5 for the prevention and detection ol fraud and other irregularities.
AMESBURY SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE} REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS We have audited the financial 5t3tÈrnÈnis of Amesbury School Trust Limited I'the chaNtablÈ company'l for the year ended 31 August 2025 which comprise the Statement of Financial Activitie5, Balance Sheet, the Cash Fl(>w Statement and notes to the financial ststement5. including a summary of 5ignilicant accounting policies. The financial reporting framèwork that has been applied in iheir preparation is applicable law and United Kingdom Accounring Standards. including Financial Reportin8 Standard 102 The Financial Reportin8 St3ndard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. Bive a true and fair view of the state of the charitable companvs affairs as at 31 Au8USt 2025 and of its incoming resources and application of resources for the year then Ènded- have been properly prepared in accordan with United Kingdom Generally A¢pted Accounting Pradice,. and have been prepared in accord3nce with the requirement5 of the Companies Act 2006. Basls for opinion We conductÈd our audit in accordance with International Standaid5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standardg are further described in the Auditor's respon5ibilitie5 for the audit of thè financial ateMentS section of our report. We are independeni of the char<(able company Tn accordance with the ethical requirerrents 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 accordan with these requlrements. We bplieve that the audit ev1deTr we have obtained is suffitient and appropriate to provide a basis for our opinion. Conclusions rèlatingio 8oln8 concern We draw attention to note 2.3 to the financial statement5 which explains that from l August 2026 the net assets of the school will be transferred to Charterhouse School Icornpany number 06540482 and charity number 3120541. The Director5 therefore do not consider it tcp be appropriate to adopt the Boing concern basis ol accounting. Our opinion is not modified in rèspect of this. Our responsibilities and the responsibilities of the governors with respect to going concern are described in the relevant section5 of thls report. Other Informatron The other inforrnation compriges thÈ information included in the annual report, including thegovernorfs report, othèr than the financial statement5 and our auditor's report thereon. The govemors are responsible for the other information. 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 ihereon. In connection with our audit of the financial statements, Dur responsibility is to reid the other information and, in doing so, consider wh2thef the other information Is materially incon515tent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. 11 we identify such material incon51StenciEs or apparent material mi55tatetnents, we are required to determine whether there 15 a material misstatement in the financial statements or a material rnisstatemÈnt of the other information. If, based on the wtrrk we have perfornied, we conclude that there is a material misstatement of this oiher information. we are required to report that fact. io
AMESBURY SCHOOL TRUST LIMITED ILIMrrED BYGUARANTEE) REPORT OF THE INDEPENDENT AUDITOR5 TO THE MEMBERS We have ngthing to report in this rega¥d. Op¥nlon5 on other matter5 prescribed by the CompaniesAct 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the zovernor's report Ilncorporating the director5. report) for the financial year for which thé financlal statements are prepared 15 COSlSlStent with the fin3ntial statements,. and the 8overnors' report lincorporating the directors reportl has been prepared in accordance with applicable legal requirernents. Matters on which we are requlred to report by ex¢eptlon In the light of our knowledge and understanding of the charitable company and tts environment obtained in the ¢ourse ol the audit, we have not identified m2terial mSsststement5 in the governors, report (incorporating the director5 reportl. We have nothingto report in re5Pert of the following matter5 in relation towhieh the CompaniesAtt 2006 requi5 ug to report to you if, in ouropinion.. adequate accounting records have not been kept, or returns adequate for our audlt have not been re(eived from blanches ngt visited by us., or the financial statements are nDt in zgreement with the accountin8 record5 and retums,. or cèrtaln disclosures of direttors. remuneration specrfied by law are not made,. or we have not received all the information and explènatls we require foi our audit. ReSponsIlItIeS ol tnistees As explained rnore fulty in ihe trustees. responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation ol the financial statements and for being sat¢slied that they give a true and falr view, and for such internal control as the irustees determine is necessaryto enable the preparation of financial statements that are free from n73terial rnisstatement, whether due to fraud or error. In Preparing the financial starements, the trustees arè responsible for as52sslnE the charitable companV5 ability to continue as a going concern. disrlosing, as applicable, matters related to going concern and u5ingthe going concern basis of accounting unle55 the trustees either intend to Ilqurdate the charitable company or to cease operations. or have no realistic alternatwe but to do so. Auditorfs resptsnslbllltie5 for the audit of the financial statements Ourobjectives are to obtain reasonable assurance about whether the financial statentS as a whole are free from material misstatemerbt. whether due to Iraud or error, and to issue ai) auditor'5 report that includes our opinion. Reasonable assurance is a high level ol assuran. but is not a guarantee that an audii conducted in accordance with ISAS IUKI will always detect a matÈri31 mi55t3iement when it exists. Misstatements can arise from fiaud or error and are considered mate¥ial if, individuallyor in the a88regate.they could reasonably be expected to influen the economic decisions ol Users takeTr on the basis of these financial statemEnts. li
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS A further de5rription ol our responsibilities fDr the audit of the financial statements Is located on the Financial Reporting Council's webslte 3t= httpS'.l/www.frc.oV3Ud1tOrsrespons1bIllt1ps. This description forms part of our auditovs report. Extentto whlch the audlt was considered pable of dète¢ting IrTegularlthe8 intludlnE fraud The oblectives of our audit, in regpÉct to fraud, are.. to identify and assess the risks of rnaterial mlsstatement of the rinancial statements due to fraud,. to obtain sufficient appropriate audit eviden regarding the amessed risks of material rnisstatement due to fraud, through designing and implementing appropriate sPonSe5. and to respond appropriately to fraud or susperted fraud idenlif5ed during the audit. However, the primary responsibility for the prevention and detection of fraud rests with ly)ththose charged with govemance ofthe entiiy and its management. Our approach was as folltsws.. We identlfied areas ol laws and regulations that could reasonably be expectèd to have a material effect on the financial statements from our general comtTrercial and sector experience, and through discussion with the directors and other management las required by auditing standardsl. and discussed with the directors and oihei management the policies and prOdureS regarding compliance with laws and regulations., We identified the following 8reas as those most likely to have such an effect: health and safety,. General Data Protection RegulatioTh IGDPRI., Independent Schools Inspectorate IISII,. fvaud.. bribery and corruption, school inspections.DbS checks, employment law and Keeping Children Safe in Education under Section 175 of the Education Act 2CNJ2. Auditing standards limK the required audit procedurÈs to identify non- compliance with these laws and regulations to enquiry of the twstees and other management and inspection of re8ulaiOry and lègal correspondence, if any. We considered the legal and regulatDry frameworks directly applicable to the financial statements reporting framewoik IFRS 102 and the Companies Act 2(X)6 and the Ch3rities Art 20111 and the relevant tax compliance reEulation5 in the UK; We considered the nature of the ¢tsmpany's/charlt¢s operations, the control environment and business performante, including the key drivers for managemnt'S remuneration.. We communicated identified laws and regulations throughout our team and remained alert to any indications ol non-compliance Ihroughout the audit- We cL>nsldered the procedures and eontrols thèt the company/charity has ¢stabllshed to address ri$ks identified, Of thai orherwise prevent. deter and detert fraud,. and how senlor management monitors those procedure5 and controls. Based on this understatbding we designed our audit procedures to identify non.cDmpliance with such law$ and regulations. Wherèthe riskw3s considered to hlgher, we performed audit procedures to address each identified fraud risk. These procedures included.. testin8 manual journals,. rèviewing the fiNan¢ial stètement disclosure5 and teIng to supporting dDcumentaiion; performing analytical piocedures- and enqtjiring of m3nagement, and were desisned to provide reasonable assurance that thè financial statements werè free from fraud oi error. Owing to the Snh&r8nt limitations of an audit, there Is an unavoidable risk that we may not have detected some mat131 misstatements in the financial statements. even though we have properly planned and performed our audit Sn accordance with auditing Standards. For example, the further removed non-compliance with laws and regulations IITregularitie51 is from the eveTrts and tTan5action5 reflected in the linanclal statemènts. the less likely the inherently limiied procedures rèquired by auditing standards would identify it. The risk is also greater regardin8 irregularities occurrin8duetolraud rather than errc*r, as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation. We are not responsible for preventing non-compliafice and cannot be expected to 12
AMESBURY SCHOOL TRUST LIMITED (UMITED BY GUARANTEEI REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS detert non-c¢)mpliance with all laws and reBulations. Use of our rewt Thls report is made solely tothe charf(able cornpany's mernbèrs, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2(6. Our audit work has been undertaken so that we mi8ht5tateto thecharitable compan¢s members those matters we are required to state to them in an auditor's report and for no other purpose. TD thè fullést extent pèrmitred by law. we do not 3ccept or assume responsibility io anyone ather than the charitable company and the charitable company's members as e body, for our audlt work. for ihis report, or for the opinions we have formed. Mark Cummins FCCA (Senlor Statu lor and on behalf ol TC Group StatLrtory Auditors Offiee= Sussex Auditor} 13
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST2025 Unrestrfcted funds Deslgnated funds R4slrl¢ted funds Total 2025 TDtal 2024 INCOME FROM: Donations and legacies Charitable artlvates Investment income other incorne Notes 26,151 6.000,548 49,392 47.515 26,151 6.QOO,548 49,392 47,515 5,746.698 14.830 71.741 Totsl income 6,123,606 6,123,606 S.833.269 EXPENDITURE ON: Charitable activities 6.018,007 6,018,007 5,738,099 Total èxpendlture 6.018,007 6,018,007 5,738,099 Net movement in funds 105,599 95,170 105.599 Fund balanTrs brought forward 5.105,240 5.122,724 65.334 12,352 5,200,410 Fund balances at tarrled forward 5A06.009 5.200,410 Z3 5,228,323 65,334 12,352 All the charitvs actlvltie5 derlve from contlnuing operatlDns during the above two pertod5. The funds breakdown Is shown in note 23. 14
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST2025 2025 2024 Notes FIXED ASSETS Tangible assets Investments 13 5,543,221 5,724,684 14 5,543,221 5,724,686 CURRENT ASSET5 stock Debtors Cash at bank and in hand 15 16 15,201 740,398 1,456,540 2,212,139 13,103 298,502 1,686,053 1,997,658 CURRENT LIABILITIES Creditors due within one year 17 11,665.5401 11,315,6651 NET CURRENT ASSETS 546,599 681,993 TOTALASSETS LESS CURRENT LIABILITIES 6,089,820 6,406,679 LONG TERM LIABILITIES Creditofs due aftèr one year 18 1783.8111 11,206.2691 NET ASSETS S.306.C¥)9 5,200,410 REPRESENTED BY: 23 RESTRICTED FUNDS 12,352 12,352 UNRESTRICTED FUNDS Genefal funds Designated funds 5,228,323 65.334 5,122,724 65.334 5.188,058 5.306,009 5,200,410 The finantial statements on pages 17 to 30 were approved by the 8overnor5, and authorised for ssUe on..,................ and signed on their behalf by.. (¢'f.k4 C Decker Chair Date: Company Numbèr- (J)984771 15
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUAFiANTEE} CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST2025 2025 2024 Notes Net cash provided byllu5ed In) operating actlvities 26 1153,2081 I,547,5 Cash flows from Investl actlvttle5: Interest receivable and similar income Purchase of tangible fixed assets Net cash used In Investing actIvIe$ 49,392 1105,9771 14,830 1374,5111 156,5851 1359.6811 Cash flows from financrng activltles: Repayment of loans 3nd borrowin85 Net cash used in financlng activities 19 119,7201 119,060 119,7201 119,0601 Net increaselldecreasel in cash and cash equivalents 1229,513) 1,168,264 Cash and cash equivalènts at I September 2024 1,686,053 517.789 Cash and cash eqLtivalenls at 31 August 2025 1,456.540 1,686,053 RecDnciliatlon of net cash flow to movemeTrt In net debt Increa5elldecreasel in cash and cash equivalents in thè year Ilncrea5el/decrease in debt Chanee in net funds/ldebtl resulting Irom cash flows 12295131 1,168.264 19,720 19.060 1209,7931 1,187,324 Net debt at I September 2024 1.546.363 359.039 Net debt at 31 August 2025 2S 1,336.570 1,546,363 All of the cash flow5 are derived from continuing op2rations during the above two periods. 16
AMESBURY SCHOOL TRUST LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AU6UST2025 STATiTfoRY INFORMATION Amesbury SchDoI Trust Limited 15 a charitable company. limited by guarantee. and incorporated in England and Wales. The principal place df business and principal activtty ol the company are outlined in the LeBal and Administrative Infom)?tion aTrd Report of the Governor5 sections ol these financial statements respectivelv. ACCOUNTING POUCIES 2.1 Summary of 51Enificant aicountlnz pollcles and key actountlng estSmates The principal accountin8 policiés applied in the preparation of these financial statements are set out below. These policte5 have beerT consistently applied to all the years prèsented unless otherwise stated. 2.2 Basls of prepara0 The financia5 statemettts of the charitable company, which is 3 public benefit entity under FRS 102, have been prepared In accordance wlth Charlties SORP IFRS 1021 'Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordanee wth ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leflective I lanuary20191', Financial Reporting Standard 102 The Finan¢ial Reporting Standard applicable in the UK and Republic of Ifeland, and the Companies Act 2006. The financial statement have been prepared under the hFstorlcal cost convention. Consolidated financial statements have not been prepared on the ba515 ihat the inclusion ol the domiant subsidiary would not make a maierial difference. 13 Golng toncem The school is due LO merge from l August 2026 with the net assets being traftslerred to Chartei House (Charity number 3120541. It is therefore ngt considered appropriate to adopt the 8oin8 conTrrn basis of accounting. NO adjustments have bèen made to the financial statements a5 a result of this. 2.4 Income and endowments All income s reccEnised once the charity has entiilemènt inctrme, it is probable that the income will be received and the amount of the income receivable can be measured reliaLIy. School fee income is 3cc¢)unted ILW on a rÈcèNable basis and consists of charges billed for the school yearèndèd 31 August 2025. less buarleS and allowances. Fees reIved for education to be provtded in future years are Carri forward a>delerrèd income. Donation5 ale accounted for as received bythe sthool. Investment income is accouTried for in the period inwhich the school is entitled to receipt. 2.5 Deferred Inwme Deferred income relates lo monie5 received in advance of the school term they relate to. The income is recognised at ihe start ol the term. 17
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGusf2025 2 ACCOUNTING POLCIES (coned) 2.6 Empendlture Liabilities are recogni5ed as expenditure as SODn as ihere is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits wlll be required in seltlement and the amount of the obligation can be measured reliably. Expenditure is accounteil for on an actruals basis and has been classified under headings that a88regate all cost related to the Gate80ry. Where costs cannot bè directly attributed to particular heading5 they have been allocated to activltie5 on a basis consistent with the use of re50urce 2.7 Charitable actlvitles Charitable expenditure comprises Ih05e costs incurred by the charity in the delivery of its artlvitie5 and services lor Sts beneficiaries. It includes both costs that can be allcKated directly to suth activities and thm ¢osts of an indirect nature necessary to supportthèm. 2A Taxatlon ThÈchèrityis consideredtopass the testsseloutin Para8rèph I Schedule 6of the Finance Act 2021 and therefore it meets the definition of a charitablè company for UK CQTporation tax purposes. Accordingly. the charity is exempt frorn taxation in respect ol IrKome or capital gains received within £ateBories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Seciitsn 256 of the Taxation of Chargeable Gain5 Act 1992, as such income or gains are applied exclu5ivety to charitable purpose5. 2.9 ts)tangible asset5 Amortisation is provided on Tntan8ible fixed assets $0 as to wrbte off the cost. less ar)v estimated residual value, overtheir èxpected usefvl economic life as follows-. Assets Cla55 WebsTte development Costs Amortlsation method aml rdte 25% on crist 2.10 Depreclation Depieclation 15 provide on all tangible fixed assets olherth3n freehold land oncethe asset has been fully brought in wthing order. The lollowing annual r3tes are used in order to write off each a55et over its estimated Useful A55ets aass Fixtures and equipment Depreciation method and rate Between 5 25% on cost Imotor vehicles.. 25% reducing balancel 2% on valuation or cost Freehold propertles 2.11 Stock stock is valued at the lower of cost and estimated selling price, after due gard for obsolete and slow moving stocks. 2.12 Debtors Short term debtors are measured at transacrion value le55 any impairmenL At each balan sheet date. debtors 3re 35sessed for objertive evidence of Impairment. If an asset is impaired, the impairment loss is measured as the difference between the carrying amount and the amount expected to be received. 2.13 Creditors Short term creditors are measured at transaction value. 18
AMESBURY SCHOOL TRUST LIMITED ILIMITEO BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS ICONnNUED) FOR THE YEAR ENDED 31 AUGUST2025 ACCOUNTING POLICIES Icontinuedl 2.14 Bank loans Bank loans are recorded at arnortised cost. 2.15 Fund structure Unrestricted income funds are general funds thal are available for use at the trustees. discrètlon in furtherance of the objective5 Df the charity. The desi8natÈd Ljnrestricted fund is made up of thè C3pltal ahd Revaluation Resèrves which are retained for the funding of fre general capital expenditure and the Arne5bury Foundation re5etve which is Set Bside for the provision of meanstested bursaries. Restricted funds can On vsed for particular restriLted purposes within the objectives of the Trust. Further explanation of the nature and purpose of each re5trirted fund is included in the notes 10 the accounts. 2.16 Pensions and other post refjrement obligatlons The sehotsl operates at) AVIVA Pension Trust for Independent Scho5 IAPTISI penslon stheme. This is 3 defined contribution scheme. The School also operate53 defined cantribution pension scheme for itSnOll-teaching staff. Contributions payable forthe year are charged to the Statement of Financial Activitie5 as incurred. 2.17 Redundanty and termlnatlon payments Costs of redundancy and termination payments are accrued within the period in which the noti was given. 2.18 Critical a¢wun¢in9 estimate5 and lud9ementS In Ihp application of the Chartty's accounting poficies, the Govemors are required ID make judgements, eslimales and assumptions about the Carr9 amount of a$setS end Iiabiliti¢s that are not readily apparenl Irorn other sources. The estirnales and associated assumptions are based on hisiorical experience and other factors that are considered lo be relevant. Aclual results may differ from these gstimales, The estiTNates an%Y u1hjerfng assumptions are reviewed on an ongoing basis. Revisions to ac¢ountirwJ estimate5 aTe recogni5ed in Ihe periDd in which eslimale is revksed. The Governors do nDt consider that there are any critical eshmates or artas of judgement Ihat nged io be brought to the att8ntion of thg readers of the financial 8tatemenls. INCOME FROM DONTATION5 AND LEGACIES Unrestrlcted Restrirted Total 2025 Total 2024 Donations 26,151 26,151 19
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTESTOTHE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 INCOME FROM CHARITABLE ACTIVITIES Total 2025 Total 2024 Pupil fees Bursèries. Scholarship5 and discounls 5.864,922 1435.7841 5.428,183 8.205 564.205 6.(1.548 5,616,455 1429.8401 5,186,615 11,250 548,833 5,746.698 Registration fee5 Extras Total income fr(>m charitsble activities INCOME FROM INVESTMENTS Unrestrlcted Restrirted Total 2025 Totzl 2024 Interest receivable on bank deposits 49.592 49,392 14,830 OTHER INCOME UnrestriLted Restrftted Total 20ZS Total 2024 Sundry incorne including lettings 47.515 71,741 47.515 EXPENDITURE ON CHARITABLE ACTIVITIES Staff Costs Depreciatfjon Other costs Yotal Total 20Z5 2024 Teaching Wellzre Premises Support and goverThance 2,990.570 185.166 562.906 261.757 652.001 234A93 3,553,476 446.923 939,441 1,078,167 3,580,697 476,439 713.953 967.010 287,440 843,674 4,019,410 287,440 1.711,157 6,018,007 5,738,099 All of thè aLK)ve expenditure was attributable to unrestricted funds for 2025 and 2024. 20
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 EXPENDrruRE ON CHARITABLE ACTIVITIES ICONT]NUEDI Analysis of supp(rt and 6oveYnance costs: Total 2025 Tot31 2024 G(wernancÈ costs.. Audliors, remuneration for audit Services Le8al and professional fees Total g¢wernance ¢osts 13,400 37,323 50,723 15,000 33.125 48,125 Support costs.. Auditors. remuneration for non audit services Support staff wages. national insurance and pension Advertising ènd marketing IT computer costs General office expenses Finance cost5 Other support costs 702 766,913 59,477 2,674 51,261 21.336 16,522 918,885 843,674 58,923 7.812 49.553 17.410 50,07 1,027.444 Yotal support and governance costs 1,078,167 967.010 8 NET INCOMEIOUTGOING RESOURCES Nel income for the year is after charging.. 2025 2024 OperatiThg leases Audit fees Non audit a¢¢ountancy services Depreoation of fixed assets 58,865 13,400 48.109 15.000 702 273,660 287,440 9 TRUSTEES REMUNERATION AND EXPENSES No trustees, not 3ny person5 connected with them. have received any remuneration from the charity durln8 the year. Durin8 the year total expense5 reimbursed to Trustees totalled £13212024.. Enill. 21
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 10 STAFF COSTS The aggregate payroll costs were as follows- 2025 2L)24 Wages and salaries Social security costs Pension c05tS 3,344,301 349,363 325,746 3,258,796 298,232 363,191 Total salaries 4,019,410 3,920,219 The monthly average numbèr of persons (including senior management teaml employed by the chaiity durin8 the ye8rexpiessed a5 full time equivalents was as follow5.. 2025 Number 67 31 20241 Number 69 28 Education AdmiThi5tration and domestic 98 97 The numbÈT of employees whose emolurnèrTts fell within the following bands wa5.. 2025 Number 2024 Number E60.001- £70,0(KI £80,001- £90.0(M) £ioo.ooi- £iio,000 The key management personnel of the school are the Headmaster, the 8ursar. the Academic Deputy Head, the Pastoral Dèputy Head, the Head of Marketin8 & Admissions, and the Head of Pre-Prep. The total ernplDyee benefits (including Émployers pension and natlonal insurartce toniributionsl of thè key management personnel f the 5¢hool were £5SI,SII12024.. £522,157). For employees with emoluments ovèr £60.000, the total pension costs during the year were £46.79212024.' E33.3591. During the year payments of £15.00012024.. £56,5751 were made in regards tothe terminatitsn ol employment. 22
AMESBURY SCHOOL TRUST LIMITED {LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 11 COMPARATIVE STATEMENTOF FINANCIALAcrivmES-YEAR ENDED 31 AUGUST 2024 Unr¢sirirted funds DosIKnètod lund5 Restdrted funds Total 2024 INCOME FROM: Donations and legae5 5,746,698 14,830 71,741 5,745,698 14,830 71.741 Investment income Drher incorne Total Income 5.833369 5A33.269 EXPENDrruREON: Charitable acrivities 5,738,099 5,738,099 Total expenditure 5.738,099 5,738,099 Net incomellexpendlturel 95,170 95,170 Fund balance5 brought forward Fund balancesat tarrSed fon¥ard 5.027,554 65334 12,352 5,105,240 5,122.724 65334 12.352 5200,410 23
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 AUGUST2025 12 INTANGIBLE FIXED ASSErs Website Cost At I September 2024 & 31 Augvst 2025 AmortlsatlDn At I September 2024 & 31 August 2025 Net bookvalue At 31 August 2025 At 31 August 2024 31,844 31.844 13 TANGIBLE FIXED ASSETS Land and Fumlture & Motor A55ets Under Total Bull(fingg Equlpment Vehlcles Con5tructlon At I September 2024 Addition5 6,844,337 5.389 81.971 6,931,697 1,713,772 100,588 8,668 33.423 90,639 8.682.171 IOS.977 Transfer 190,6391 At 31 August 2025 1.823,028 33,42> 8,788,148 DeprKiation At I September 2024 Charge for the year At 31 August 2025 1,873,013 127,375 1,067.290 152.482 17,184 7,583 2,957,487 287.440 2,000.388 1.219,772 24.767 3,244,927 Net bookvalue At 31 August 2025 4.931,309 603.256 8.656 5,$43,221 At 31 August 2024 4,971,324 646.482 16,239 90.639 5,724,684 The tarryingvalue otfreehold property reflect5 a fevaluation made iAthe year to 31 August 1993 of £139,874. No subsequent revaluatiDns have been made. Included within freehold propertie5 is land valued at £562,953. which is not depCiated. 24
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR ThIE YEAR ENDED 31 AUGUST2025 14 FIXED ASSET INVESTMENTS Subsidiwy undertakings Cost at 15eptember 2024 Impairment of investment Net book value at 31 August 2025 Details of undertakln85 Details of the investments in whith the charity holds 25% or more ol the nominal value of class 015hare capital are as follow5.. Undertaking County of intorporation Holding Proportlon of votlng rlghts and shales held dlre¢Wy Prlnclpal actlvlty Amesbury Enterprise5 Limited England and Wales Ordinary Shares of £1 each loo% Dormant The Company was dormant throu8hout 2025 and 2024 2nd has subsequently been dissolved p05t year-end. 15 STOCK 2025 2L)24 StOEks 15.ZOI 13,103 16 DEBTORS 2025 2024 Trade debtor5 398,613 136,717 205,068 150,364 127,749 20.389 Prepayments and accrued irKome Other deOrS 740,398 298,502 25
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 17 CREDOR5. amounts falling due wlthln one year 2025 2024 Bank loans 20,467 131,313 314.199 38.266 25,0(rfJ 1.136.275 1,66S,540 19,721 118,376 70,281 33.346 5,20 1,068.741 1,315,665 Trade creditors Other tBxatton and social security Other creditors Fee deposits Accruals and deferred income 18 CREDifoRS: amounts talling due after one year 2025 2024 Bank loan5 99.482 125.905 119.969 141,406 944,894 1.206,269 Fee deposits Deferred income 558,424 783,811 Included within bank loans due after one year is £10,05712024- £33,602> due by instalments after more than five years. Deferred income 2025 Deferred income at 15eptember 2024 Resources deferred In thè period Amounls released from Pfevious periods DÈferrec£ income at 31 August 2025 1,508.544 233,021 1676,5821 1,064,983 Deferred incrjme includes £1,064,98312024-. £1.508,5441 held under the SeOIS advanced payment scherne, of which £558,42412024.. £944.8941 is shown in note 18 as beln8 due after more thart one year. Bank borrowlng The fi¥ed rate 103n has an intèrest rate of 3.65%. The caNyinB amount at the year end Is £119.96912024.- £139,6901. 26
AMESBURY SCHOOL TRUST LIMITED {LIMITED BY GUARANTEEI NOTE5 TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR ThIE YEAR ENDED 31 AUGUST2025 19 SECURÉD CREDITORS The followlng creditois have been secured by way of a floating and fixed charge overthe assets of the charity. 2025 2024 Bank loans 119,969 119.969 139,690 139.690 2D OBLIGATION5 UNDER LEASES AND HIRE PURCHASE CONTRACTS Total future minimum lease payment5 under non-cancellable operating leases are as follows: 2025 2024 Other Within one year Between one and five years 48,206 51,320 99,526 57,564 92.867 150,431 21 PENSION SCHEME5 The pension cost Charge for the year reprèsents contributions payable by the School to differin8 schemès and amour*ted to £325,74612024.. £363,191) 22 CHARrrY STATUS The charity is limited by guarantee. iftcorporated iytr England and Walès. and consequentlydoes not have share capital. Eath of thè trustees 15 liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liouidation. 27
AMESBURY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 23 FUNDS Balznte at I SEptember2024 Incomlng resources Resources expended alance at 31 August 2025 Unrèstricted fund5 General Accumulated lund Designated Amesbury Foundation fund 5.122,724 6,123.606 16,018,007) 5.228,323 65334 6S.334 Total unrestrirted fvnds 5,188.058 6,123.606 16,018,Th)7 5,293.657 Restrirted funds REW Wainwright library lund Playground project Total réstricted funds 352 12,000 12,352 352 12,000 12.352 Totalfunds S.2,410 6,123,606 16,018,007) 5.306,009 The specific purposes for which the funds are to be applied are 35 follows.- Thè REW Wainwright Library fund is 3 donation received towards library books for the school. The Accumulated fund represent5 the free funds of ihe charity which are npt designated for particular purposes. The Playground project repTe5ents donations received toward5 the cost of a new playground at the School. Thele is one desi8nated lund. The Ame5bury Foundation funds arè set aside foi the provision of means testÈd burs3riès. 28
AMESBURY SCHOOL TRUST LIMITED (LIMITED BYGUARANTEEI NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGusf2025 24 ANALYSIS OF NET ASSETS BETWEEN FUND5 Unrestrirted funds Degnated funds Restiicted funds ZOZ5 Total Fund balances at 31 AuSt 2025 are represented by., Fixed assets Fixed assets inv85tmEnts CuTrènt assets S,543,221 5.543,221 2,134,453 11,665,5401 1783,8111 5.228,323 65.334 12,352 2.212,139 11,665.5401 783.811) 5,306.(#J9 Creditors.. due after one year 65,334 12,352 Unrestricted funds Designatèd lunds Re5trirted funds 2024 Total Fund balances at 31 August 2024 are represented by.. Fixed assets Fixed a55ets investmènts Current assets 5,724,684 5,724,684 1,919.972 11.315,6651 11,206,269) 5,122.724 65,334 12,352 1,997.658 11,315,6651 11,206,269) 5,200,410 Credittsrs= due after one year 65.334 12,352 25 ANALYSIS OF NET DEBT Financing cash flows At31 August 202S September 2024 Cash at bank and in hand Debt dve within one year Oebt due after more than one year et debt 1,686,053 119.7211 1119,9691 1,546,363 1229,5131 17661 20.486 IN56,540 120,4871 199,4831 1,336,570 1209,7931 Atl September 2023 Financbng cash flows At31 Au8USt 2024 Cash at bank and in hand Debt due withln L)ne year Debt due after more ihan onè year Net debt 517,7B9 119,0601 1139.6901 359.039 1,168,264 16611 19.721 1.686,053 119,7211 1119.9691 1,546,363 1.187,324 29
AMESBURY SCHOOL TRUST LIMITED ILIMITED BYGUARANTEEI NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGusf2025 26 NET CASH INFLOW FROM OPERAnNG ACTlVtriES 2025 2024 Net income for the year Depreciatlon charges Investment income IGainl I loss on investments Ilncre35el / decrease in stocks Ilncreasèl I decrease in debtors Increase / Id@creasel in creditors 105.599 287.440 149.3921 95,170 273.660 114,8301 12.0981 1441,8961 152.8631 1153,2081 29,974 124,8311 1,187,862 1,547,005 27 SUBSEQUENT EVENTS On 16th March 2026, the Board announted that Amesbury khool would be merging with Charterhouse School (Charity number 3120541 ¢)n 1st Au8ilSt 2026. 30
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