THE HAWTHORNS EDUCATIONAL TRUST LIMITED
(a Registered Charity and Company Limited by Guarantee)
and its subsidiary company operating as
The Hawthorns School
GOVERNORS' ANNUAL REPORT AND AUDITED CONSOLIDATED ACCOUNTS
For the 11 months ended 31 July 2025
Company Registration Number-00949504 Charity Commission Registration-Number-312067
www.hawthorns.com
The Hawthorns Educational Trust Limited
CONTENTS
| Page | |
|---|---|
| Governors' Annual Report (incorporating a Group Strategic Report | 3 |
| Independent Auditors Report | 8 |
| Consolidated Statement of Financial Activities | 11 |
| Consolidated Balance Sheet | 12 |
| Company Balance Sheet | 13 |
| Consolidated Cashflow Statement | 14 |
| Notes to the Accounts | 15 |
The Hawthorns Educational Trust Limited
GOVERNORS' ANNUAL REPORT (incorporating a Group Strategic Report) Period Ended 31 July 2025
The Governors (who are also directors of the Charity for the purposes of the Companies Act) present their Annual Report, together with the Audited Accounts of The Hawthorns Educational Trust Limited (the Company) for the period ended 31 July 2025, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The accounts comply with the Charities Act 2011, the Companies Act 2006, the School's Memorandum and Articles of Association, and 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Hawthorns School was founded in 1926. The Hawthorns School Educational Trust Limited (the Trust) is a company limited by guarantee, number 00949504, and was registered at Companies House on 7 March 1969.The Trust is a registered charity, number 312067, registered at the Charity Commission on 7 May 1970. The charity is governed by its Memorandum and Articles of Association dated 7 May 1970. The charity operates The Hawthorns School, an independent nursery and preparatory school for boys and girls aged 6 months to 13, in Bletchingley, Surrey.
Governors
The Governors, who are the directors of the Group for the purposes of company law, and are the charity trustees, for the purposes of charity law, during the year and since, were as follows:
Mr BJC Dyer (retired 15 July 2025) Mr RJ Buckingham (retired 22 January 2025) Mr MJ Dockery * Mr RHC Kirkland (retired 22 January 2025) Mr HJW Oliver (retired 22 January 2025) Mrs SE Raja * ** Mr SJO Roche (retired 22 January 2025) Mr DWJ Searle (retired 28 October 2025) Mr MB Tinker (retired 22 January 2025) Mrs BS Lee (retired 22 January 2025) Mrs C Black-Nyaga * (appointed 22 January 2025) Mr DJW Chalmers * (appointed 22 January 2025) Mr MR Mear (appointed 22 January 2025 and retired 11 September 2025) Mrs ML Whenman * (appointed 22 January 2025) Mrs J Stewart * (appointed 13 March 2025)
- Governor, director and charity trustee at date of signing these accounts.
** Parent of current pupil at date of signing these accounts.
3
The Hawthorns Educational Trust Limited GROUP GOVERNORS’ ANNUAL REPORT (incorporating a Group Strategic Report) Period Ended 31 July 2025
Governing body
Governors are elected by the governing body. At each annual general meeting the nearest number to one third of the total Governors retire and are eligible for re-election. The Governors to retire each year are those who have been longest in office since their last election.
In order to maintain a broad skill mix, Governors are selected from a wide range of professions and, in the event of particular skills being lost due to retirement; individuals with the requisite skills are approached to offer themselves for election to the governing body.
Governors derive no financial benefit from their office other than as shown in the notes to the accounts, but are reimbursed for any travel or administrative expenses.
Governor induction and training
Governor induction, following appointment, comprises the review of a portfolio of documentation covering all aspects of the Group, including the most recent audited accounts, the Memorandum and Articles of Association, copies of Board Meeting Minutes, School Prospectus, recent newsletters to parents, staff lists with responsibilities, governance documentation with subcommittee details and a copy of the Charity Commission publication, 'The Essential Trustee'.
Governors are expected to attend subcommittee meetings (depending on their skills; see subcommittee details below) as required and to attend termly Board Meetings. Governors are encouraged to visit the School during term time, to meet the pupils, Headmaster, Bursar and Senior Leadership Team.
Training, after appointment, is provided by comprehensive mailing of information relevant to the School's day to day activities and by a formal training session held each year at a board meeting. The Chairman of Governors attends an outside training course run by IAPS (Independent Association of Preparatory Schools) during the first year of office. Governors are encouraged to visit the Charity Commission website for up to date information.
Key executives, professional advisers and contact information:
Headmaster Mr A E Floyd Bursar and Company Secretary Mr P I Walker Senior Leadership Team Mr A Duggan Miss S C Fowler Ms A M Gallagher Mr M W Goldhawk Mrs K-A Kirkman Mr A J Morris Mr R Skottowe
Address and Registered Office The Hawthorns Educational Trust Limited T/A The Hawthorns School Pendell Court Bletchingley, Surrey RH1 4QJ
4
The Hawthorns Educational Trust Limited GROUP GOVERNORS’ ANNUAL REPORT (incorporating a Group Strategic Report) Period Ended 31 July 2025
Bankers Lloyds Bank plc 1 London Road Redhill Surrey RHl lND Auditors Moore Kingston Smith LLP 6[th] Floor, 9 Appold Street London EC2A 2AP School Website www.hawthorns.com Email office@hawthorns.com
Organisational management
The Governors determine the general policy of the Trust. The key management personnel of the School are the Governors, the Headmaster, the Bursar and the Senior Leadership Team. The Governors meet, as a body, at least once each term. Various subcommittees meet to deal with matters during the year as required.
The remuneration of the Headmaster and the Bursar is set by the Board, with the policy objective of providing appropriate incentives to encourage enhanced performance and of rewarding them fairly and responsibly for their individual contributions to the School's success.
The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere.
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
The objects are set out in the Memorandum of Association as the education of girls and boys. It is the aim of the Trust, as an independent educational establishment, to lay academic, physical and moral foundations of the highest quality. These foundations will equip the School's pupils with self- confidence and a desire to contribute to the wider community and, in preparing them for the next stage of their education, will enable them to face and overcome the many challenges of life ahead.
In setting objectives and planning activities, the Governors have given due consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on feecharging.
STRATEGIC REVIEW
Achievements and Performance
The School enjoyed a successful academic year with 31% of leavers being awarded scholarships to join their senior school.
In the School, Pupils have continued to enjoy success in a wide variety of sports, activities, and creative pursuits. The all-round education that the Hawthorns seeks to deliver continues to result in high levels of pupil success.
Efforts continue to ensure that no suitable pupil is denied an education at the School on the grounds of affordability. Accordingly, the Governors are pleased to offer means-tested bursaries (assisted places) to parents with limited income. During the period bursary awards were made to 8 pupils (2024: 8) and their value was £79,818 (2024: £89,011).
With effect from 31 December 2024, Caterham School became the sole member of The Hawthorns Educational Trust Ltd. Significant recent external events, including the imposition of VAT on school fees, the removal of business rates relief and increases in costs of employing staff resulted in significant challenges best met from a position of financial and collaborative strength. This has been achieved by joining the Caterham Family of Schools.
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The Hawthorns Educational Trust Limited GROUP GOVERNORS’ ANNUAL REPORT (incorporating a Group Strategic Report) Period Ended 31 July 2025
Financial Review
The Trust received total income of £8,381,082 (2024: £8,484,264) and the consolidated net incoming resources for the year amounted to £502,842 (2024: net incoming resources of £15,363). Total funds carried forward were £7,579,441 which includes £25,000 of restricted funds (2024: £7,076,599 which included £25,000 of restricted funds). The balance of £7,554,441 is held as unrestricted funds (2024: £7,051,599).
Capital expenditure has been undertaken to make improvements to the School facilities. This amounted to £285,856 during the year (2024: £627,904). There is a plan of continuous upgrading of the School's facilities to keep pace with the requirements of a leading nursery and preparatory school.
Change of financial year end
To align with Caterham School, the financial year end was changed from August to July and so the financial statements have been prepared for the 11 months ended 31 July 2025.
This change has affected the Net Income for the period which was £502,842. For the year ended 31 August 2025 the Net Income was £79,469. The difference is because the school carries ongoing costs in August, whilst income is much reduced due to the holidays. Trade debtors increased significantly compared to August 2024 because invoices are raised the end of July and many are paid during August. Camp Hawthorns is much lower than the year ended 31 August 2024 as a significant proportion of that income occurs in August.
Investment in subsidiary
The Trust owns 100% of the shares of its subsidiary company, The Hawthorns (Pendell Court) Limited, which in turn owns the freehold of the premises occupied by the Trust. The accounts consolidate the financial statements of both companies.
The subsidiary is a non-trading company and the latest un-audited accounts have been made up to 5 April 2025 and it is these accounts that have been used in the consolidation. Both companies are incorporated in the United Kingdom and registered in England and Wales.
Reserves policy
All unrestricted funds are used to finance building development projects and generally improve the overall facilities of the School. Donations towards specific projects are included within restricted funds. Donations to The Hawthorns Foundation are allocated to restricted funds. General donations are allocated to unrestricted funds. The Governors have assessed the assets available and the obligations of the Trust and have concluded that the assets are sufficient to meet its obligations, based on current operations and pupil numbers.
Plans for Future Periods
The School continually plans ahead and examines ways in which it could adapt to all future challenges. Plans focus on ensuring the School is in the best position to offer an excellent education at an affordable price. The strategic alliance with the Caterham Family of Schools has opened up significant opportunities which will benefit the School’s pupils and their education.
The School has been active in ensuring that all new families are welcomed and enjoy a Hawthorns education for their child. The School’s marketing and admission policy has ensured that the School represents the ethnicity of the local area. The School sees that this year 24% of its intake comes from ethnically diverse families. The EDI committees (staff and parents) review and monitor ways in which the School can learn and become more inclusive.
Principal Risks and Uncertainties
The Governors assess the major risks to which the School is exposed, particularly relating to its operations and finances, on a regular basis. The most significant risk is considered to be a possible fall in the number of pupils attending the School, especially in with high cost of living landscape, the imposition of VAT on and other costs affecting school fees and a declining birth rate.
6
The Hawthorns Educational Trust Limited GROUP GOVERNORS’ ANNUAL REPORT (incorporating a Group Strategic Report) Period Ended 31 July 2025
STATEMENT OF GOVERNORS' RESPONSIBILITIES
The Governors, who are also the directors of The Hawthorns Educational Trust Limited for the purposes of company law, are responsible for preparing the Governors' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Governors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Trust and its subsidiary and of the incoming resources and application of resources, including the income and expenditure, of the group for that year. In preparing those financial statements, the Governors 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 in the SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.
The Governors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
DISCLOSURE OF INFORMATION TO AUDITORS
Each of the Governors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
This report, incorporating the Strategic Report, was approved by the Board of Governors on 27 November 2025 and signed on behalf of the Board.
Mr D Chalmers
Chair of Governors
7
The Hawthorns Educational Trust Limited INDEPENDENT AUDITOR’S REPORT Period ended 31 July 2025
Opinion
We have audited the financial statements of The Hawthorns Educational Trust Limited (the ‘charitable company’) and its subsidiary (the ‘group’) for the period ended 31 July 2025. 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:
-
give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 July 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 Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the governors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast doubt on the group and parent charitable company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the governors with respect to going concern are described in the relevant sections of this report.
Other information
The Governors are responsible for the other information. The other information comprises the information included in the Governors’ annual report, other than the financial statements and our auditor’s report thereon. 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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
8
The Hawthorns Educational Trust Limited INDEPENDENT AUDITOR’S REPORT Period ended 31 July 2025
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Governors’ annual report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Governors
As explained more fully in the Governors’ responsibilities statement set out on page 7 , the Governors (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 Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the governors are responsible for assessing the 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 governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.
9
The Hawthorns Educational Trust Limited INDEPENDENT AUDITOR’S REPORT Period ended 31 July 2025
Our approach was as follows:
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We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general sector experience, and through discussion with the Governors’ and other management (as required by auditing standards), and discussed with the Governors’ and other management the policies and procedures regarding compliance with laws and regulations (see below);
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We identified the following areas as those most likely to have such an effect: health and safety; General Data Protection Regulation (GDPR); fraud; bribery and corruption, school inspections, keeping children safe in education (statutory guidance), DBS checks and employment law. Auditing standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter.
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We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102, the Companies Act 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK;
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We considered the nature of the charitable company’s operations, the control environment and financial performance.
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We communicated identified laws and regulations throughout our team and remained alert to any indications of noncompliance throughout the audit;
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We considered the procedures and controls that the charitable company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
mM povket
Neil Finlayson
for and on behalf of Moore Kingston Smith LLP Statutory Auditors
Dated: 18 December 2025
10
The Hawthorns Educational Trust Limited CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(Including Income and Expenditure Account) Period Ended 31 July 2025
| Notes Income from: Donations and legacies Charitable activities Fees receivable 3 Other educational income 3 Other trading activities Sports centre 4 Investments Bank interest Other income 5 Total income Expenditure on: Raising funds Sports centre Charitable activities Education Total expenditure 6 Net movement in funds Reconciliation of funds Fund balance at 1 September 2024 Fund balance at 31 July 2025 |
Unrestricted funds £ 2,225 7,193,848 604,417 544,294 26,724 9,574 8,381,082 583,354 7,294,886 7,878,240 502,842 7,051,599 7,554,441 |
Restricted funds £ - - - - - - - - - - - 25,000 25,000 |
Total 11 month period ended 2025 £ 2,225 7,193,848 604,417 544,294 26,724 9,574 8,381,082 583,354 7,294,886 7,878,240 502,842 7,076,599 7,579,441 |
Total Year ended 2024 £ 495 7,381,964 397,127 658,985 5,497 10,196 |
|---|---|---|---|---|
| 8,454,264 | ||||
| 659,537 7,779,364 |
||||
| 8,438,901 | ||||
| 15,363 7,061,236 |
||||
| 7,076,599 |
This statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. All activities are classed as continuing.
There are no recognised gains or losses other than those reported on the Statement of Financial Activities.
The notes on pages 15 to 26 form part of these financial statements.
11
The Hawthorns Educational Trust Limited CONSOLIDATED BALANCE SHEET
As at 31 July 2025
| As at 31 July 2025 | As at 31 July 2025 | As at 31 August 2024 | As at 31 August 2024 | ||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible fixed assets | 10 | 9,694,183 | 9,834,998 | ||
| CURRENT ASSETS | |||||
| Debtors | 12 | 2,723,951 | 1,778,461 | ||
| Cash at bank and in hand | 1,659,059 | 2,017,712 | |||
| Total current assets | 4,383,010 | 3,796,173 | |||
| Creditors - Amounts falling due within one | |||||
| year | 13 | (3,980,173) | (3,652,997) | ||
| NET CURRENT ASSETS | 402,837 | 143,176 | |||
| 10,097,020 | 9,978,174 | ||||
| Long term liabilities | |||||
| Creditors - Amounts falling due after more | |||||
| than one year | 14 | (2,517,579) | (2,901,575) | ||
| TOTAL NET ASSETS | 7,579,441 | 7,076,599 | |||
| Represented by: | |||||
| Unrestricted funds | 17 | 7,554,441 | 7,051,599 | ||
| Restricted funds | 16 | 25,000 | 25,000 | ||
| TOTAL NET ASSETS | 7,579,441 | 7,076,599 |
These accounts were approved by the Board on 27 November 2025
….................................................... Mr D Chalmers
Company number 00949504
The notes on pages 15 to 26 form part of these financial statements.
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The Hawthorns Educational Trust Limited COMPANY BALANCE SHEET
As at 31 July 2025
| As at 31 July 2025 | As at 31 July 2025 | As at 31 August 2024 | As at 31 August 2024 | ||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible fixed assets | 10 | 9,584,183 | 9,724,998 | ||
| Investment in subsidiary | 11 | 71,534 | 71,534 | ||
| 9,655,717 | 9,796,532 | ||||
| CURRENT ASSETS | |||||
| Debtors | 12 | 2,723,927 | 1,778,437 | ||
| Cash at bank and in hand | 1,659,059 | 2,017,712 | |||
| Total current assets | 4,382,986 | 3,796,149 | |||
| Creditors - Amounts falling due within one | |||||
| year | 13 | (3,979,933) | (3,652,757) | ||
| NET CURRENT ASSETS | 403,053 | 143,392 | |||
| 10,058,770 | 9,939,924 | ||||
| Long term liabilities | |||||
| Creditors - Amounts falling due after more | |||||
| than one year | 14 | (2,517,579) | (2,901,575) | ||
| TOTAL NET ASSETS | 7,541,191 | 7,038,349 | |||
| Represented by: | |||||
| Unrestricted funds | 17 | 7,516,191 | 7,013,349 | ||
| Restricted funds | 16 | 25,000 | 25,000 | ||
| TOTAL NET ASSETS | 7,541,191 | 7,038,349 |
These accounts were approved by the Board on 27 November 2025
….................................................... Mr D Chalmers
Company number 00949504
The notes on pages 15 to 26 form part of these financial statements.
13
The Hawthorns Educational Trust Limited CONSOLIDATED CASHFLOW STATEMENT
Period Ended 31 July 2025
| £ £ Cash flows from operating activities: Net income/expenditure for the period 502,842 Adjustments for: Depreciation 426,671 Interest payable 176,775 Interest receivable (26,724) Decrease/(Increase) in debtors (945,490) (Decrease)/Increase in creditors 5,960 Net cash provided by operating activities (362,808) Cash flows from investing activities Purchase of fixed assets (285,856) Bank interest received 26,724 Net cash used in investing activities (259,132) Cash flows from financing activities Cash inflows from new borrowing - Repayments of borrowing (62,780) Interest payable (176,775) Net cash provided by financing activities (239,555) Change in cash and cash equivalents in the year (358,653) Cash and cash equivalents at the beginning of the period 2,017,712 Cash and cash equivalents at the end of the period 1,659,059 Analysis of cash and cash equivalents Cash at bank and in hand 1,659,059 Bank loans due within one year (253,656) Bank loans due after one year (2,344,161) Total cash and cash equivalents (938,758) 31 July 2025 11 month period ended |
£ £ 15,363 443,978 184,043 (5,497) 117,779 440,421 1,180,724 (627,904) 5,497 (622,407) 443,076 (69,270) (184,043) 189,763 763,443 1,254,269 2,017,712 2,017,712 (67,520) (2,593,077) (642,885) 31 August 2024 Year ended |
£ £ 15,363 443,978 184,043 (5,497) 117,779 440,421 1,180,724 (627,904) 5,497 (622,407) 443,076 (69,270) (184,043) 189,763 763,443 1,254,269 2,017,712 2,017,712 (67,520) (2,593,077) (642,885) 31 August 2024 Year ended |
|---|---|---|
| 763,443 1,254,269 |
||
| 2,017,712 | ||
| 2,017,712 (67,520) (2,593,077) |
||
| (642,885) |
The notes on pages 15 to 26 form part of these financial statements.
14
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
1 STATUTORY INFORMATION
The charity is a charitable company, limited by guarantee, registered in England and Wales. The registered office, company number and charity number are detailed in the Governors' annual report.
2 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the Companies Act 2006 and in accordance with the Charities' Statement of Recommended Practice (SORP (FRS102) and Financial Reporting Standard 102.
The charitable company meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy.
After reviewing the charity's forecasts and projections, the Governors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its accounts.
Currency
The Group presents its accounts in sterling and figures are rounded to the nearest £.
Group accounts
The accounts consolidate the results of the charity and its wholly owned subsidiary The Hawthorns (Pendell Court) Limited on a line by line basis. A separate Statement of Financial Activities (including income and expenditure account) for the charity has not been presented as the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006. The subsidiary is a non trading company. Its latest un-audited accounts have been made up to 5 April 2025 and it is these accounts that have been used in the consolidation.
Income
Donations received for the general purposes of the School are credited to unrestricted funds except insofar as they are incapable of financial measurement. Donations for purposes restricted by the wishes of the donor are taken to restricted fuds where these wishes are legally binding on the charity.
School fees receivable and charges for services and use of premises are accounted for in the period in which the service is provided. Fees received in advance of education to be provided in future years are held as liabilities until either taken to income in the term when used or else refunded. They are stated after deducting bursaries, scholarships and other fee remissions granted by the school.
Sports centre, rental and investment income are accounted for in the period in which they are receivable. Other incoming resources are accounted for when received.
All income is recognised net of VAT.
Expenditure
Expenditure is accounted for on an accruals basis, with value added tax included within the item of expense to which it relates. Overhead and other costs not directly attributable to a particular functional activity category are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year.
Governance costs comprise the costs of running the charity, including strategic planning for its future development, also internal and external audit, any legal advice for the Governors, and all the costs of complying with constitutional and statutory requirements, such as the cost of board and committee meetings and preparing statutory accounts and satisfying public accountability.
The irrecoverable element of VAT is included with the item of expense to which it relates.
15
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
2 Accounting policies (Continued)
Assets
Fixed assets are shown on the balance sheet at cost less accumulated depreciation. Current assets are shown at the lower of cost and net realisable value.
Depreciation
Depreciation is provided on fixed assets to write off their cost over their estimated useful life as follows:
Freehold and short leasehold property - 2% - 10% straight line Electrical, computer and garden equipment - 20% straight line Fixtures, fittings, tools and equipment - 10% straight line
Pension schemes
Teaching staff are members of the Teachers' Pension Scheme (TPS), a defined benefit scheme administered by the Teachers' Pension Agency. Contributions to the Scheme are charged to the Statement of Financial Activities as they fall due. The Teachers' Pension Scheme is an unfunded scheme. Contributions on a "pay as you go" basis are credited to the Exchequer under arrangements governed by the Superannuation Act 1972. Actuarial valuations are carried out on a notional set of investments. Under the definitions set out in FRS102, the Teachers' Pension Scheme is a multi-employer pension scheme. The school is unable to identify its share of the underlying (notional) assets and liabilities of the scheme. Accordingly, under FRS102 the scheme is accounted for as if it were a defined contribution scheme.
The School also contributes to personal pension schemes for non-teaching staff. Teachers that joined the school from September 2022 are part of this scheme.
Operating lease rentals
Rentals paid in respect of assets held under operating leases are taken to the Statement of Financial Activities as they fall due.
Investments
Investments consist of a shareholding in the group subsidiary and are held at cost.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments. The Governors seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any discounts due.
Fund accounting
Unrestricted funds comprise those funds which can be used in accordance with the charitable objectives at the discretion of the Governors.
Restricted funds are those funds which can be used in accordance with the specific restrictions imposed by the donor or which have been raised by the charity for a specific purpose. The cost of raising and administering such funds is charged against the funds and the School reimburses the costs from unrestricted funds. The aim and use of each restricted fund is set out further in the notes to the accounts.
16
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
2 Accounting policies (Continued)
Turnover
The turnover of the charity is wholly attributable to the object of the charity as stated in the Governors' Report and is earned entirely within the UK.
Taxation
The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.
Deferred taxation in the subsidiary company arising on the valuation of the freehold is not provided for as, in the opinion of the directors of the Group, the liability is unlikely to arise.
Critical accounting estimates and judgements
In the application of the Group's accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of the assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The Governors do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
3 Income from Charitable Activities
| Fees receivable consist of: School fees Less: Bursaries, scholarships and discounts Other educational income Other fees and income Income from other trading activities Sports lettings Sports coaching Camp Hawthorns Other trading Total sports centre income Other lettings and activities Other income Registration fees |
11 months 2025 £ 7,605,092 (411,244) 7,193,848 604,417 7,798,265 85,739 323,261 129,809 4,436 543,245 1,049 544,294 9,574 9,574 |
Year 2024 £ 7,806,427 (424,463) |
|---|---|---|
| 7,381,964 397,127 |
||
| 7,779,091 | ||
| 87,165 355,171 207,260 8,470 |
||
| 658,066 919 |
||
| 658,985 | ||
| 10,196 | ||
| 10,196 |
4 Income from other trading activities
5 Other income
17
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
| 6 Analysis of expenditure Staff costs £ Cost of raising funds Lettings (Inc sports centre) 337,792 Total cost of raising funds 337,792 Charitable activities Teaching 3,991,086 Welfare - Premises 207,462 Finance costs - Support and governance 466,008 Total charitable expenditure 4,664,556 Total expenditure 5,002,348 Comparative total expenditure Staff costs £ Cost of raising funds Lettings (Inc sports centre) 364,696 Total cost of raising funds 364,696 Charitable activities Teaching 4,212,426 Welfare 28,371 Premises 210,355 Finance costs - Support and governance 476,892 Total charitable expenditure 4,928,044 Total expenditure 5,292,740 Analysis of support and governance costs Governance costs: Auditors' remuneration for audit services Support costs: Auditors remuneration for non audit services Support staff wages, NI and pension costs Other support costs |
Depreciation £ - - 172,162 - 254,509 - - 426,671 426,671 Depreciation £ - - 179,076 - 264,724 - - 443,800 443,800 |
Other £ 245,562 245,562 383,062 606,013 585,582 198,291 430,711 2,203,659 2,449,221 Other £ 294,841 294,841 396,361 615,290 656,217 198,628 541,024 2,407,520 2,702,361 |
Total 11 months 2025 £ 583,354 583,354 4,546,310 606,013 1,047,553 198,291 896,719 7,294,886 7,878,240 Total 2024 £ 659,537 659,537 4,787,863 643,661 1,131,296 198,628 1,017,916 7,779,364 8,438,901 2025 £ 16,500 - 466,008 414,211 896,719 |
Total Year 2024 £ 659,537 |
|---|---|---|---|---|
| 659,537 | ||||
| 4,787,863 643,661 1,131,296 198,628 1,017,916 |
||||
| 7,779,364 | ||||
| 8,438,901 | ||||
| 2024 £ 15,000 14,388 476,892 511,636 |
||||
| 1,017,916 |
Net income is stated after charging £67,255 (2024: £42,358) to operating lease rentals included within premises costs.
18
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
7 Comparative Statement of Financial Activities for the year ended 31 August 2024
| Income from: Donations and legacies Charitable activities Fees receivable Other trading activities Sports centre Investments Bank interest Other income Total income Expenditure on: Raising funds Sports centre Charitable activities Education Total expenditure Net income Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Fund balances carried forward |
Unrestricted funds £ 495 7,779,091 658,985 5,497 10,196 8,454,264 659,537 7,779,364 8,438,901 15,363 195,479 210,842 6,840,757 7,051,599 |
Restricted funds £ - - - - - - - - - - (195,479) (195,479) 220,479 25,000 |
Total 2024 £ 495 7,779,091 658,985 5,497 10,196 |
|---|---|---|---|
| 8,454,264 | |||
| 659,537 7,779,364 |
|||
| 8,438,901 | |||
| 15,363 - |
|||
| 15,363 7,061,236 |
|||
| 7,076,599 |
19
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
8 Staff costs
| Salaries and wages Social security costs Pension costs |
11 months Year 2025 2024 £ £ 3,878,805 4,170,433 410,897 393,628 712,646 728,679 5,002,348 5,292,740 |
|---|---|
| Number of employees whose emoluments for the year exceeded | ||
|---|---|---|
| £60,000 | ||
| No. | No. | |
| £60,000 to £69,999 | 3 | 3 |
| £70,000 to £79,999 | 2 | 2 |
| £90,000 to £99,999 | 1 | - |
| £150,000 to £159,999 | 1 | 1 |
Contributions totalling £122,509 (2024: £115,826) were made during the period to a pension scheme on behalf of the above employees.
The average monthly headcount was 145 staff (2024: 149 staff) and the average monthly number of full time equivalent employees during the period was:
| No. Teaching and teaching assistants 72 Administration, kitchen, maintenance and sports centre 29 101 2025 £ Aggregate employee benefits of key management personnel 1,011,423 The key management personnel of the school are detailed in the Governors' report. |
No. 74 28 |
|---|---|
| 102 | |
| 2024 £ 1,049,668 |
During the year settlement agreement payments totalling £44,806 (2024: £Nil) were payable.
9 Operating surplus
| Operating surplus | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Included within the operating surplus for the period are the following: | ||
| Charitable activities - Education | ||
| Operating lease rentals | 67,255 | 42,538 |
| Governance | ||
| Auditors' fees - Audit services | 16,500 | 15,000 |
| Auditors' fees - other services | - | 14,388 |
As described in the notes to the accounts, no separate Statement of Financial Activities has been prepared for the School alone. The School contributed a surplus of £502,842 to the surplus of the Group for the period (2024: £29,913 to the surplus).
20
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
10 Tangible Fixed Assets
| The Group Cost At 1 September 2024 Additions Disposals At 31 July 2025 Depreciation At 1 September 2024 Charge for the period Eliminated on disposals At 31 July 2025 Net Book Value At 31 July 2025 At 31 August 2024 The Company Cost At 1 September 2024 Additions Disposals At 31 July 2025 Depreciation At 1 September 2024 Charge for the period Eliminated on disposals At 31 July 2025 Net Book Value At 31 July 2025 At 31 August 2024 |
Freehold property £ 13,841,055 141,098 - 13,982,153 4,376,876 325,915 - 4,702,791 9,279,362 9,464,179 £ 13,731,055 141,098 - 13,872,153 4,376,876 325,915 - 4,702,791 9,169,362 9,354,179 |
Electrical, computer & garden Equipment £ 498,131 663 - 498,794 429,185 14,544 - 443,729 55,065 68,946 £ 498,131 663 - 498,794 429,185 14,544 - 443,729 55,065 68,946 |
Fixtures, fittings, tools & equipment £ 940,488 144,095 - 1,084,583 638,615 86,212 - 724,827 359,756 301,873 £ 940,488 144,095 - 1,084,583 638,615 86,212 - 724,827 359,756 301,873 |
Total £ 15,279,674 285,856 - |
|---|---|---|---|---|
| 15,565,530 | ||||
| 5,444,676 426,671 - |
||||
| 5,871,347 | ||||
| 9,694,183 | ||||
| 9,834,998 | ||||
| £ 15,169,674 285,856 - |
||||
| 15,455,530 | ||||
| 5,444,676 426,671 - |
||||
| 5,871,347 | ||||
| 9,584,183 | ||||
| 9,724,998 |
The freehold property shown in the accounts of the company relates to improvements made to the freehold property owned by the subsidiary company and is therefore added to the freehold property in the accounts of the group. The market value of freehold properties is estimated by the Governors to be in exceeds of the book value at the period end.
21
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
11 Investment in subsidiary
| Investment in subsidiary | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Investment - Shares at cost | 71,534 | 71,534 |
The Company owns 100% of the shares of the subsidiary company The Hawthorns (Pendell Court) Limited, company number 700823, which owns the freehold of the premises occupied by the Trust. Both companies are incorporated in the United Kingdom and registered in England and Wales.
The trading results of The Hawthorns (Pendell Court) Limited for the year ended 5 April 2025 are:
| Profit for the year Capital and reserves Debtors Trade debtors Other debtors Prepayments Amounts owed by parent undertaking Amounts owed by subsidiary company |
2025 2024 £ £ 2,451,427 1,623,511 100,563 14,325 168,461 140,625 3,500 - - - 2,723,951 1,778,461 Group |
£Nil 109,784 2025 2024 £ £ 2,451,403 1,623,487 100,563 14,325 168,461 140,625 3,500 - - - 2,723,927 1,778,437 Company |
£Nil 109,784 2025 2024 £ £ 2,451,403 1,623,487 100,563 14,325 168,461 140,625 3,500 - - - 2,723,927 1,778,437 Company |
|---|---|---|---|
| 1,778,437 |
12 Debtors
13 Creditors - Amounts falling due within one year
| Bank loans and overdrafts Fee deposits Deferred income Amounts owed to group undertakings Trade creditors Social security and other taxation Other creditors and accruals |
2025 2024 £ £ 253,656 67,520 294,500 247,600 2,466,400 2,625,173 - - 104,512 175,966 421,400 93,895 439,705 442,843 3,980,173 3,652,997 Group |
2025 2024 £ £ 253,656 67,520 294,500 247,600 2,466,400 2,625,173 - - 104,512 175,966 421,400 93,895 439,465 442,603 3,979,933 3,652,757 Company |
2025 2024 £ £ 253,656 67,520 294,500 247,600 2,466,400 2,625,173 - - 104,512 175,966 421,400 93,895 439,465 442,603 3,979,933 3,652,757 Company |
|---|---|---|---|
| 3,652,757 |
22
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
14 Creditors - Amounts falling due after more than one
year
| Long terms loans Deferred income Loan maturity analysis Repayable in less than one year (Note 13) Repayable in 1-2 years Repayable in 2-5 years Repayable in over 5 years |
2025 2024 £ £ 2,344,161 2,593,077 173,418 308,498 2,517,579 2,901,575 253,656 67,520 253,656 250,311 760,968 302,705 1,329,537 2,348,559 2,597,817 2,969,095 Group |
2025 2024 £ £ 2,344,161 2,593,077 173,418 308,498 2,517,579 2,901,575 253,656 67,520 253,656 250,311 760,968 302,705 1,329,537 2,348,559 2,597,817 2,969,095 Company |
2025 2024 £ £ 2,344,161 2,593,077 173,418 308,498 2,517,579 2,901,575 253,656 67,520 253,656 250,311 760,968 302,705 1,329,537 2,348,559 2,597,817 2,969,095 Company |
|---|---|---|---|
| 2,901,575 | |||
| 67,520 250,311 302,705 2,348,559 |
|||
| 2,969,095 |
Interest on the loan is charged at 2.55% above base rate. The loan is repayable in February 2043.
Total loan repayments during the period amounted to £239,405 (2024: £69,270).
The company also has a Bank overdraft facility. The loans and overdraft are secured by a fixed and floating charge on the Group's freehold property. The overdraft was not being used at the year end.
15 Advanced Fees Payment Scheme
Parents may enter into a contract to pay the school tuition fees in advance. The money may be returned, subject to specific conditions, upon receipt of one term's notice. Assuming pupils will remain in the School, advance fees will be applied as below:
| Due within one year Due after more than one year |
2025 2024 £ £ 216,344 291,894 166,808 308,498 383,152 600,392 |
|---|---|
The balance represents the accrued liability under the contracts. The movements during the period were:
| Balance at the beginning of the period Amounts received during the period Amounts credited to pupil accounts for fees Balance at the end of the period |
2025 2024 £ £ 600,392 174,232 - 597,968 (217,240) (171,808) 383,152 600,392 |
|---|---|
23
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
16 Restricted Fund
The Hawthorns Foundation provides a long term fund to assist the School with bursary awards and to provide funds for specific capital projects. Donations are received predominantly from current and former parents and from Old Hawthornians.
| The Hawthorns Foundation Designation of fund Capital projects fund Total fund |
Balance At 1 Sep 24 £ 25,000 25,000 25,000 |
Income £ - - - |
Expenditure £ - - - |
Transfers £ - - - |
Balance At 31 Jul 25 £ 25,000 |
|---|---|---|---|---|---|
| 25,000 | |||||
| 25,000 |
The School contributed £Nil (2024: £Nil) towards the running costs of The Hawthorns Foundation.
17 Unrestricted Fund
| The Group The Company |
Balance At 1 Sep 24 £ 7,051,599 7,013,349 |
Income £ 8,381,082 8,381,082 |
Expenditure £ (7,878,240) (7,878,240) |
Transfers £ - - |
Balance At 31 Jul 25 £ 7,554,441 |
|---|---|---|---|---|---|
| 7,516,191 |
Designated funds represents funds allocated by the Governors for roof repairs. Transfers represent the amounts spent during the period.
24
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
18 Analysis of net assets between funds of the Group
| Tangible fixed assets Current assets Current liabilities Long term liabilities At 31 July 2025 Tangible fixed assets Current assets Current liabilities Long term liabilities At 31 August 2024 |
Unrestricted funds £ 9,694,183 4,358,010 (3,980,173) (2,517,579) 7,554,441 Unrestricted funds £ 9,834,998 3,771,173 (3,652,997) (2,901,575) 7,051,599 |
Restricted funds £ - 25,000 - - 25,000 Restricted funds £ - 25,000 - - 25,000 |
Total 2025 £ 9,694,183 4,383,010 (3,980,173) (2,517,579) |
|---|---|---|---|
| 7,579,441 | |||
| Total 2024 £ 9,834,998 3,796,173 (3,652,997) (2,901,575) |
|||
| 7,076,599 |
19 Operating leases
Total lease commitments for assets held under operating leases were as follows:
| Payable within one year Payable between two and five years |
2025 £ 3,197 238,276 241,473 |
2024 £ 72,873 193,773 |
|---|---|---|
| 266,646 |
20 Governors' remuneration, reimbursement of expenses and interest in contracts
No remuneration was provided to any Governors during the period. No Governors were reimbursed travel expenditure during the period (2024: £Nil).
Mr B J C Dyer, the former Chair of Governors, was a director of Bradley Dyer Raw Limited which provides advertising production services amounting to £6,997 (2024: £11,772) to the Hawthorns School. These services are provided at preferential rates.
21 Pension costs
The School participates in the Teachers' Pension Scheme (The TPS) for its teaching staff. The pension charge for the period includes contributions payable to the TPS of £419,030 (2024: £479,046) and at the period end £Nil (2024: £Nil) was accrued in respect of contributions to the Scheme.
The TPS is an unfunded multi-employer defined benefits pension scheme governed by the Teachers' Pension Regulations 2010 (as amended) and The Teachers' Pension Scheme Regulations 2014 (as amended). Members contribute on a "pay as you go" basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
25
The Hawthorns Educational Trust Limited NOTES TO THE ACCOUNTS
Period Ended 31 July 2025
21 Pension costs (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 was published in October 2023.
Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can select to receive them from either the reformed or legacy schemes for the period 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation has valued the "greater value" benefits for groups of relevant members.
The employer contribution rate for the TPS is 28.6% and employers are also required to pay a scheme administration levy of 0.08% giving a total employers contribution rate of 28.68%. With effect from 1 September 2024, participants in the TPS are required to take a 3.5% salary cut to remain in the Scheme so that the increase in employer contributions is cost neutral to the School, or alternatively move to the defined contribution scheme as described below.
The School also operates a defined contribution pension scheme for non TPS staff. The pension charge for the period includes contributions payable to this scheme of £217,915 (2024: £249,632) and at the period end £Nil (2024: £Nil) was accrued in respect of contributions to this scheme. Teachers that joined the school from September 2022 are part of this scheme, as the school introduced a phased withdrawal from the Teachers' Pension Scheme.
22 Ultimate controlling party
The sole member of the charitable company The Hawthorns Educational Trust Limited is Caterham School, the ultimate controlling company. Caterham School's registered office is Harestone Valley Road, Caterham, Surrey CR3 6YA, company registration number 5410210 and charity registration number 1109508. Caterham School prepares consolidated accounts which includes The Hawthorns Educational Trust Limited.
23 Capital commitments
Amounts contracted for but not provided for in the financial statements amount to £Nil plus VAT (2024: £51,253 plus VAT).
26