HaLLiford
School
SHEPPERTON
Halliford School Limited
Governors, Report
and
Financial Statements
For the year ended 31 August 2025

Contents
Legal and adrninistratbve details................................................................................................
Governors, Report............................-..-..............
Vision, Mission Statement, Aims and Key Activtties..................................................................
Governance and Management.-................................................................................................
strategic Report .........................................................................................................................
Statement of Governor< Responsibilities..........................-..................................................... 17
Independent Auditorfs Report to the members of Hallrford School Limtted .
.18
Statement of Financial Activities.................-............................................................................ 22
Balance Sheet.................................................................... ......................................................23
Statement ofcash flows..........................................................................................................24
Notes to the Financial Statements..............................-..............................................-.............25

Legal and administrative details
Full name and registered address of the charity
Halliford School Limited
Russell Road
Shepperton
Middlesex
TW17 9HX
Cha rity status
Founded in 1921
Halliford School was privately owned until Decembef 1956 when it was incorporated as a company
limited by guarantee. where the liability of the member5 is limited to £1. and not having share capital.
Re-named asshepperton Grammar School Ltd the School retained this name until December 1971 when
it reverted to Halliford School Ltd.
The governing document of Halliford School Ltd are the Articles of Association which were adopted by
Special Resolution dated 25, January 2022 and approved by the Charity Commission 28, April 2022.
Charity registration number- 3120
Company registration number- (L1575324.
Governor5 and Directors ofthe Company
The following were both Governor5 of the School and Directors of the Company during the period of
this report.
Finance
Commlttee
Acadernic and
Staffing
Committee
Health and
Safety
Commlttee
(Joint Chairl
Safe8uardlnB /
Pastoral
Committee
Marketin8
Committee
Mr K Woodward (Chairl
Mrc Squire
Mr M Crosby
Mr B Harris
O Ichairl
/ ljoint Chalrl
Mrs P Homer
MrA Lenoel
Or M Sachania
Miss A. Wall
Mrj Sharp
M5 A Stalk
S Rabett
K G￿en
{Chairl
Ichairl
rf Ichairl
Governors. Report and Financial Statements 31 P a g e

Headmaster and Senior Staff
Mr J Davies
Headmaster
Mrs E Sanders
Bursar. Clerk to Governors and Cornpany Secretary
Mr R Fulfr)rd
Deputy Head Acadernic
Mrj Norman
Deputy Head Pastoral
Mr S Slocock
Assistant Head Co-curricular
MrACarroll
Head of Sixth Form
Mr M Shales
Director of Student Welfare
MrG Btsyes
Director of Teaching and Learning
Professional advisers
Bankers
National Westminster Commercial Bank
280 Bishopsgate
London
EC2M 4RB
Auditors
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Legal
Veale Wasbrough Wizards
Orchard Court
Orchard Lane
Bristol
BSI 5WS
Governors, Report and Financial Statements 4 | P a g e

Governors, Report
The members of Halliford School Governing Body present for the year ended 31" Au8USt 2025 their
Annual Report under the Charities Act 2011, incorwrating their Governor< and Strategic Report under
the Companies Act 21X)6, together with audited financial statements of Halliford School.
The financial statements comply with the Charities Act 2011. the Companies Act 2￿6. the
Memorandum and Articles of Association. and Accounting and Reporting by Charities.. Statement of
Recommended Prartite applicable ro charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
Vision, Mission Statement, Aims and Key Activities
Halliford School is a thriving independent day school based in Shepperton for boys aged 11-18 and gir15
aged 16-18.
Vision of Halliford School
To be acknowledged as the small independent school of choice for 11-18 year olds, where we are proud
to belong to a thrivin& happy and a5pirational community that is committed to each student as an
individual.
Mi5510n Statement
Halliford School is based on strong farnily values where we know and respect every student as an
individual. We encourage and support Hallifordians to flourish and become the best version of
themselves that they can possibly be.
We aim for excellence by bein8 academically arnbitious but at the same time academically sensitive.
We inspire Hallifordians within a community that is founded on high quality teaching and leaming,
outstanding pastoral care and first-class sportin& cultural and co-curricular opportunities.
Aims
To provide a stimulating learning environment for boys 11-18 and girls 16-18 where we promote
academic excellence and provide opportunities to realise the full potential of every individual
to become the best version of themselves
To provide a wam)-hearted family ethos in which every student is known and valued as an
individual
To enable each individual to discover and develop his/her talents, chararter. creativity,
resilience and ability to work within a team by providing a balanced and wide-ranging co-
curricular programme
To create an environment in which all members of the school community feel supported and
valued and able to contribute positively to the lives of others by providing a culture of
outstanding safeguarding and pastoral care
To equip our students for the world they will encounter beyond Hallrford School
Governors. Report and Financial Statements 51 P a g e

Values
Our students and staff identffied the following values as being at the heart of what it means to be a
Hallifordian..
Intellectually curious
Respectful
Warm-hearted
Team players
Creative
Resilient
As an educational charity, the parents of our students have the assurance that all the income of the
School is used for educational purposes a5 described by the following objectives of the charity:
To establish and maintain an independent day school for the education of both boys and girls.
To establish or acquire as a going concern and carry on or manage elsewhere, any subsidiary,
affiliated or other schools for the education of boys and girls in connection with the above
mentioned School, and to Supply to such studenys instruction, together with physical. moral and
religious trainin& and to provide accommodation for Staff and students being boarded, and mea15
for those takin8 meals at school, but so that each such school shall be carried on as an educational
charity-
In December 2024 the charity registered for VAT and this has been added at 20% to all tuition fees.
Since April 2025 the School no longer benefits from Business Rate Relief IBRRI. The introduction of
VAT on fees has placed significant pressure on parents. finances and the loss of BRR places
additional pressure on the School being able to sustain our bursary wlicy and provide a means bv
which we can educate some children whose families would otherwise not be able to afford the
fees and therefore access the education offered.
Key activities
The Governors understand the ￿qUirement to deliver a rich and broad educational experience to all students.
Through their strategic direction. governance and risk managernent they seek to ensure the School has both
the resources and operating framework to enable it to provide a friendly. family orientated and sUPPOrtive
environment in which all students are known as individuals by most, if not all, staff. They are equally valued
and supported regardless of race. religion. gender ond disability.
The School works to ensu￿ all students are grven the same opportunity to learn and develop and, in so doing,
provide a wide array of support to students whether they face individual challenges to their abilFty to learn or
are potentially high athievers.
We offer a number of Academic, Music. Art. Drama, ￿Em and Sports Scholarships forentry to Year7 and the
Sixth Form. Scholarships are awarded on the basis of the individuals exceptional lacademic, musical, artistic
nd sportingl ability and potential. Candidates are encouraged to apply for a means iested bursary to
supplement their scholarship rf financial constraints are a consideration. We advertise these on our School
website.
Bursary awards, which are available to all who meet the School< general entry requirements, are made 501ely
on the basis of parental Means or to relieve hardship (for example in the case of ￿dundantVI or where
studenys education and future prospects would otherwise be at risk. Bursary awards can be given up to lOO%
fees discount. Our School does not have a large endowment fund and in funding our awards we have to be
mindful that we must ensure a balance between fee paying parents, many of whom make considerable
personal sacrifices to fund their children's education, and those benefitin8 frorn the award.
Our School welcomes students from all backgrounds. however, we need to be satisfied that we will be able to
educate and develop a prospective student to the best of their potential and in line with the general standards
Governor5. Report and Financial Statements 61 P a g e

achieved by their peers. To that end entrance interviews and assessments are undertaken to satisfy both
ourselves and parents that potential students could cope with the pace of learning and benefit from the
education provided. An individual's economic status, ethnicity. religion or disability do not form part of our
assessment process and to help with the continuity of education in families a discount is offered for parents
who have more than two children in the School.
Thi5 year the total value of awards for scholarships. bursaries and staff remisS￿n was £795,358 12024
£594.2251.
We are an equal opportunity organisation commttted to a working environment that isfree from discfimination
and will make reasonable adjustments to meet the needs of staff or students who are. or become. disabled.
In summary, the role of our School is to provide students with a range of educational opportunities within
which they can fully realise their individual potential. Our airns are for the public benefit, and we have
considered the Charity Commission's Guidance.
Governance and Management
Board of Governors
The number of Governors elected to the Board must be not less than 8 and not more than 20. Governor5 are
encouraged to attend seminars organised by the Association of Governing Bodies of Indepelldent Schools
IAGBISI and other accredited organisations as appropriate. Upon election to the Board of Governors new
Governors visit the School. are briefed by both the Headmaster and the Bursar, and are provided with a new
Governors, Information Pack containing information about the School. Governing Body information, School
policies and training available.
The Governors are the company directors and trustees of the Charity and have control of the Charity and its
property and funds. On appointment as a Governor. a Governor shall automatically become a Member of the
Charity. The normal term of office for a Govemor shall be four years. provided that the Governors may
determine that the Governor shall in fact retire at the end of a meeting of the Board of Governors held within
six months of the end of the Governor's term of office.
Governance
The Board of Governors continue to keep the School's activities under review and in particular, risk
identification and. where appropriate, mitigation (including Insurance coverl and the effectiveness of internal
controls. The Board of Governors meet once per term to review the reports of the sulFcommittees and
determine both the strategic direction and policies of the School. In addition. the Executive Committee has
powers to meet and reach detisions on issues requiring urgent attention.
Sub-committees for the financial year ended on 31 August 2025 were=
Finance Committee
Academic and Staffing Committee
Health and Safety Comrnittee
Marketing Committee
Safeguardin81 Pastoral Committee
The Governors and the Senior Management Team comprise the key management personnel of the charity in
charge of running and operdting the School on a day-to-day basis. All Governors give their time freely and no
director received remuneration in the year.
Governors. Re￿rt and Financial Ststements 71 P a g e

The pay of all staff is reviewed annually and the Govemors benchmark against pay levels in other independent
schools of a similar size.
Related Organisations
Halliford School has a wonderful and supportive group of parents who arrange various fundraising events for
the School. They are run as a separate organisation and any ￿ndS raised by the PTA are donated to the School.
The School assists with their Gift Aid claims.
Govemors. Report and Financial Statements 81 P a 8 e

Strategic Report
Achievements and performance
In the year ending 31" August 2025 students on roll in School was 494. The termly core tuition fees. before
any deduction of any means tested bursaries and scholarships for the year ending 31 August 2025 was £7.5(Kl
for the Autumn Term and for the Spring and SummerTerms net tuition fees were reduced to £7,200 when VAT
was introduced in January 2025.
Academic
We were delighted with the excellent results for students as we continue to see a consistent trend of overall
improvement. We are once again able to celebrate with our best GCSE results ever recorded in our history as
a school. The value-added results for our students placed us in the top third of schools nationally which is
remarkable achievemellt for a school of our size.
GCSE Examination Results
GCSE
2025
2024
2023
Candidate5
76
75
% Pass Grades 9-4 IA'_CI
99
99
95
A Level Examination Results
We were delighted to see our students achieve a further set of excellent results with 58% of all grades at an
A'_ B. This is o superb achievement gNen the broad range of academ￿ abilities we welcome at Halliford School.
These grades also enabled a record number of 97% of students able to 80 on to the University orApprenticeship
routes of their choite. Nearly 50% of students are moving on to study at Russell Group Universities this year as
sult of their incredible results.
A Level
Candidate5
2025
51
2024
35
43
% Pass (Grades A'_Bl
% Pass (Grades A'_El
58
55
55
Ic
99.7
99.5
Culture
The Art department hosted an exhilarating Arts Week in the Spring Term, featuring a diverse array of events
that captivated students and staff alike. From hands-on workshops to enlightening talks and gallery visits, the
week-long celebration showcased Halliford's commitment to cultivating artistic expression and appreciation.
The annual Art Exhibition Saw the art studKJ turned into a gallery wtth a wonderful display of students, GCSE
and A-Level artwork.
There were various Interhouse competitions throughout the School year including a Pumpkin Carving
competrtion. the annual Christrnas Card Competttion. Debatin8 and Photography.
Govemors, Report and Financial Statements 9 | P a g e

Students took part in numerous Quizzes and Challenges throughout the year including the World Book Day
Quiz, the National Reading Champion5 Quiz. the Schoo15 Challenge UK Quiz, the British Biology Challenge ond
the Biology Olympiad. A group of Halliford'5 most talented linguists took part in the 2025 UK Linguistics
Olympiad. They performed exceptionalty well. earning both gold and silver ￿rtificateS at breakthrough level.
Lower Sixth Politics students took part in the RA Butler Prize. an essay competr(ion jointly organised by Trinity
College Cambridge and Cambridge Universitrfs Department of Politics and International Studie5. One of our
students reached the 'lon8lisV of top essays and received a commendation from the prize panel.
A group of students in the Sixth form founded their own company. Echelon. as part of the Young Enterprise
Competition. Their product Eco-Etch vnn the Sustainability Award. a recognition of their commitment to
environmentally responsible business practices.
Drama
During the Autumn Term all student5 in Year 8 presented a spectscular'shakespeare-ience. evening.
In February, drama students brought Mark Haddon's acclaimed novel The Curious Incident of the Dog in the
Night-Tirne to life on stage in the newly refurbished John Crook Theatre.
Senior drama students put on two short performances in the SummerTerm-The Mobile Phone Show &
Chatroom. Halliford continues to offer the LAMDA ILondon Academy of Music and Dramatic Artl speech and
drama curriculum and students in all year groups have received distinttions.
Music
The music department works incredibly hard to offer a wide range of musKal opportunities to students and
in the Winter term were proud to entertain audiences at the House Music Competition, Winter Concert.
Informal lunch lime concerts and various Carol Seryices. The Spring Temi started with the annual Battle of
the Bands competition bringing the school community together to celebrate the incredible musical talent on
show. The evenin8 was filled with electrifying perforrnance5, friendly competith)n and a shared appreciation
of wonderful music. The highly anticipated Young Musician Competition showcased an impressive array of
talènt from students across the school as they took to the stage to demonstrate their musical abilities. In the
final few weeks of the Summer Term, a selection of Halliford musicians. both staff and students, came
together to form the pit band for Bug5y Molone, a local community theatre production held at the Cecil
Hepworth Playhouse in Walton. The final music event of the academK year was the Summer Concert, with
the courtyard packed to capacity. The atmosphere was one of celebration and musical joy.
Events and School Trips
Events and Trips are an integral part of the education offered by the school, and a selection of trip5 covering
academK, cultural. and sporting activitses included the following=
European Day of Languages
Year 8 Trip to Hampton Court Palace
Tall Ships Sailing Expedition
Geography Trip to Iceland
Spanish Exchange Trip
Music Trip to see Wicked the Musical
A Level Biology Trip to Science Lrve
Year 10 Business studies trip to Cadbury World
Lower Sixth Team building afternoon
Year 11 Geography Field Trip to the London Docklands
Lower Sixth History Trip to the National Archives
Music Trip to see Mahlerfs Fwfth Symphony
Govemors, Report and Financial Statements 10 I P a g e

Onatti Theatre compan¢s perforniance at Hallrford School of their Spanish play. Primera Cita
Halliford Ski and Snowboard Trip to Ginada
Art Trip to the Tate Modem
Year 8 Rugby Tour to Bristol
Year 9 Barcelona Football Tour
The official opening of The Forum by Professor Robert Winston
Year 10 Geography field trip to the River fillingbourne neaf Dorking
German tTlP to the Goethe-lnstitut
Academic Collaboration Week
Year 7 Trip to Northern France
Year 8 Residential trip to Cuffley Camp
Year 9 Trip to Ypres
Year 10 Trip to Dorset
Lower Sixth Activity Days
Sports Day
Art Exhibition
Speech Day
Duke of Edinburgh
The Duke of Edinburgh Award continues to be very popular. Year 9 students took part in the Bronze Practice
and the Assessed Expeditions in the Surrey Hills, while the Year 10 students went to The South Downs and the
New Forest for their practice and qualifying expeditions. Gold Award students undertook their practKe
expedition in the Peak District, facing challenging weather conditions. Their final expedition was held in the
Lake District. The groups excelled in theirfinal challenge. demonstrating independence and strong leadership.
Sport and Co-curricular clubs
Halliford School is proud to be able to offer our students a wide variety of learning experiences outside the
classroom to support and enhance the learning that goes on insi(le the classroom. We believe these are an
invalLJable part of our students. education and strongly encourage students to participate.
Holliford School's philosophy of 'sport for all, is evident in the number of students who participate in some
form of sport, whether competitively or simply to take part and improve their skills.
The Autumn Term Rugby Season saw over l(Ki fixtures played atross oll age groups. To See over 250 students
pulling on a Halliford jersey in just one term is a testament to the vibrant sporting culture that make5 Halliford
school so special. This tenn. students also participated in the Middlesex Rugby Festival and the Independent
Schools Association Golf.
Spring Term meant the focus for students moved to football and once again, there were exceptional levels of
participation and comrnitrnent. This season has been particularly impressive, delivering one of the highest win
percentages across the school for many years thanks to the dedication, skill and hard work of the player5 and
coaches.
Rugby Sevens also takes place in the Spring Term and teams competed in some of the most prestigious
tournaments in the school calendar. The Rosslyn Park 75, Millfield Prep School 75. and Surrey County 7s saw
Halliford teams display tremendous skill, resilience and sportsmanship, achieving excellent results and
reinforcing our growing reputation across Rugby in the area.
Governors, Report and Financial Statements 11 | P a g e

The interhouse competitions once again brought out the competitive spirit in students who competed against
each other in football, basketball, netball and the ever popular cross country event which was fiercely
contested around Desborough Island. These competitions foster a Strong sense of school prbde. teamwork and
perseverance.
Cricket and Athletics take centre stage in the Summer Terni, with students showing tremendous commitment
throughout. Sports Day, a particular highlight, wa5 an uplifting showcase of athleticism, house spirit and
community. The atmosphere was electric and the support from staff. students and families made it o truly
unforgettable occasion.
IndNidual sporting success were also celebrated in numerous fields including netball, Bymnastics. cross-
country, football, cricket, windsurfin& sailin& rowin& swimmin& karting and golf. These achievements, some
at ￿giOnal, national and even intemational level, are a tesLiment to the diverse sporting talent within our
community as well as the encouragement students receive to follow their own sporting jourfteys.
Students are offered a wide variety of lunchtime and after school clubs. These are always well attended in all
year groups. Clubs range from sport sessions such as rugby. football. tennis and golf, to other clubs such as
the Year 8 Sustainability Club. the Year 7 Beyblade Club. Aviation Club. Che55 Club, Photography club and Touch
typing.
Public Benefit
Halliford School takes its responsibiltties as a Charitable Trust very seriously. The Governors are fully
committed to makin8 education open to all children regardless of family means. Governors continue to place
a great emphasis on means tested bursaries, this year the school awarded E532.058 in the form of bursaries
and financial assistance to 50 students {2024: £398,235 to 401.
Halliford School has always taken and will continue to take its responsibilities as a charitable trust very
seriously. The school will continue to tontribute by maintaining current links and creating new links within
the community.
Over the past year, Halliford School has:
Held a Harvest FestNal in October collerting 19 crates of food. cleaning products and toiletries which was
donated to St. Saviourfs in Sunbury and the Greeno Centre in Shepperton
Laid a wreath at the Remembrance Sunday Service at the Shepperton War Memorial. and held
Remembrance Service at Halliford Sch￿1 where the whole community were invited
Organised Carol singing events at a local garden centre and a local care home
Assisted at a local Primary School as part of Outreach week. Outreach week also Saw students Vislting
Frensham Great Pond, the school's own pond area in Shepperton as well as other local sites to take part in
litter pickin& clearing invasive plants and refreshing fencing with paint and polish
Provided car parking for the local Shepperton Fair
Contributions to Education in the Community
Two members of staff are members of the Goveming Body at local independent schools.
Charity Fundraising
Charity is at the heart of our ethos here at Halliford School and every year we endeavour to raise funds for
various local and national causes.
Fundraising organised by the Charity Prefects included the following:
Go¥emors' RerK)rt and Financtal Statements 121 P a g e

Movember charity, a charity that aims to raise avrdreness of men's health issues, including mental
health and suicide prevention, prostate Can￿r. and testicular cancer. Students raised just under
£7CKKI throu8h events onsite as well as from online donations.
Raised £700 for the Mental Health Foundation
Held a concert and a talent show which raised over £31￿ for Comic Relief
Held a Christmas Jumper day raising funds for Save the Children
Charity Prefects organised Charity Week in the Spring Term, raising over £3,5(Ll for Barnardo's
Governors, Report and Financial Ststements 13 | P a g e

Financial Overview
Financial Results
The financial ￿aternent$ show net income for the year amounted to £1.618,61712024.' £1,LMJ),8661
Incoming Resources of £11.767,660 {2024- £10.129.9471 have increased due to additional students in the Sixth
Form. Halliford Sixth Form is very wpular and is at full capacity.
Resources expended of £10,149,043 {2024.' £9.129.0811 ha5 increased due to higher personnel costs and fee
remissions provided.
Net cash inflow from operating activities for the year was £918.22912024: £5,097,691).
The School's total unrestricted reserves at the year-end including designated funds (excluding the revaluation
reserve) were £13.972.71212024- £12.447.5851.
Reserves Policy
In balancing the needs of current and fijture beneficiaries Governors consider how the School's reserves can
best be utilised to meet the likely challenges and opportunities in the medium to long term and have a8reed
that the primary objectives for the reserves are=
In the event of a crisis. be able to sustain education provision for those students wf(hin an examination
phase until their examinations have been completed.
To improve the School environment.
School reserves are made up of Unrestricted Funds. Designated Funds. Restricted Funds and an Endowment
Fund.
Unrestricted Funds
Ullrestricted funds must be at least enough to support 3 months of operating costs which would oct as a buffer
to ensure the School can fund continuity of educatKJn in a crisis. The unrestricted reserves considered to be
sufficient for the immediate needs are £2.(K13.963. This is kept under constant review.
Designated Funds
The Governors designate any reserves in excess of the E2.(X)3.963 in order for the school to continue to irwest
in the improvement of educational, spx)rt and co-curricular facilities Offe￿d. These designated funds represent
unrestricted funds which are retained to finance the freehold property and fixed assets as well as earmarked
for future capital projects such as further development of school buildings, grounds and additional sports
facilities. The Governors review the finan￿s. budgets and spend of the School on a temily basis and as part of
the effective stewardship of the School.
The construction of the new Drama Studio and The Forurn cornmenced in Summer 2024, and the refurbishment
of the school kitchen and the creation of additional dining facilities continued until it was opened in November
2024. In Summer 2025 the refurbishment of the Design and Technology Workshop. Prep Room and storage
areas commenced alon8 Wlth the creation of another workshop adjacent to the PC Centre. This work was
completed in September 2025 and now allows the school to provide exceptional facilities to the additional
students wishing to take this subject up to A Level. Dest8n3ted funds which total £301,240 have been set aside
to fund the remainder of this projett in 2025126.
Govemors, Report and Financial Statements 14 | P a g e

Restricted Funds
These funds are held separately by the School and have been provided for specific items such as prizes, awards,
bursaries and scholarships. Total restricted funds are £83.21212024: £83,365).
Endowment Funds
The endowment fund 15 held to fund education at the discretion of the Governors. Total endowment funds are
£105,62612024: 104.3231.
The total funds held are E17,034.57612024= £15.415.9591-
Going Concern
All Governors are very conscious of the economic climate- the declining demographics and the burden VAT has
placed on familyfinances in 2025. Our financial position at Halliford School is strong resulting from high student
number5 in all year groups and the highest school roll recorded for the forthcoming academic year.
Hallrford School is well placed in the local morket to maintain student numbers, but Governors are well aware
that the independent sector is demographically shrinkin& schools are merging wtth each other and new schools
continue to open which places further pressure. The Governors strategic planning manages the business risk
and financial projections are made for 5 years and 10 years. There is an awareness by all Governors that
additional school building5 i.e. Woodward Buildin& The Forum. DT Workshops and extensive refurbishment
which has been done in the past five years was essential to meet the needs of growing student numbers and
parental interest in the School. Governor5 are now rnindful of the need to consider balancing the desire to
reduce debt servicing costs with new developments and 5ignfficant refurbishrnent projects.
Looking forward
The Governing Body along with the Senior Management Team strive to maintain student numbers and financial
reserves and ensure there is sufficient investment and development in the school in order for it to continue in
the foreseeable future. The aim 15 to reinvest wherever possible financial surpluses raised in order to improve
the education of all students by providing the best teaching and sporting facilities and significant resources
across the whole school site. The school must continue to reinvest as much financial surplus as possible bv
maintaining student nurnber5 in a very competitive market as well as satisfying the bank covenants.
The Governors keep the School masterplan which was created in 2020 undeT review with any new futu
projects I developments considered.
The School aims to maintain and expand its partnership programme with local maintained sector schools and
other local cornmunity organisations. The engagement with fomier studÈnts, staff and parents will also
continue to improve.
Principal risks and uncertainties
The Governors are responsible foroverseeing the rsks faced bythe School. Risks are kept under regular review:
appropriate controls are established throughout the year. The review covers the major risks and uncertainties
common to all independent Schools and the main risks currentty are declining demographics and parental
affordability.
The Senior Management Team reviews and updates the key risks appropriate to them and ensure action is
taken to mitigate any negative impact of risk.
Governof5' Report and Financial Statements IS I P a g e

Key Risks for Hallift>rd School
Ability to maintain the number of students Focus on the USP of the School, resource, and market
on roll.
effectively. Continue to invest in marketing and data driven
research tools.
Increase offering to students in music, art, drama and sport.
Increase quality of co-curricular offering potentially with
external providers before and after school.
Continue to invest in the facilities available at school inside
and outside.
Focus on Sixth Fomi retention, events and opportunities for
prospective students.
Increased cost pressure and ability to Governors continue to tightly rnonitorthe financial position
generate future surplus.
of the School through regular reporting and review. Key
controls in place for strategic plannin& budget
| management and management accounting.
Retain key aca(lemic and support staff.
Continue to review the newly implemented Academic Pay
Policy put in place September 2025.
Continue to benchmark competitors using eternal pay
reviews conducted by ISBA. AGBIS & Baines Cutler surveys.
Continue to review the newly implemented DC Scheme
introduced to academic staff September 2024 whilst
allowing TPS to remain.
Failure to tomply with legislation in There is robust scrutiny of all safeguarding procedures by
particular Safeguardin& Health and Safety Governor review required by law for the protection of
and Employment laws.
children and vulnerable adults.
DSL Team has increased in size and are provided with
support and training. All stsff have regularongoing training.
Increasing cyber risk in school and the Outsourced IT Provision providing robust knowledge and
Possibility leading to loss of dats. potential skills, software experience and data storagel recover
data breach and fraud.
facility.
Additional training for staff in information securty and data
protection.
Governors, Rewrt and Financial Statements 16 | P a g e

Statement of Governors, Responsibilities
For the year ended 31 August 2025
The Governors Iwho are a150 directors of Halliford School Limited for the purposes of company lawl are
responsible for preparing the Governors, Anrbual Report and the financial statements in accordance w¢th
applicable law and United Kingdom Accounting Standard5 (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 charitèble company and of the incoming resources and application of
resources, including the income and expenditufe, of the charitable company forthat period. In preparing these
financial statements. the Governors are required to-
• select sultable accounting policies and then apply them consistently:
• observe the methods and principles in the Charities SORP 2019 IFRS 1021,"
make judgernents and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed. subject to any
material departures disclosed and explained in the financial statements-
prepare the financial statements on the going concern basis unles5 it is inappropriate to
presume that the charttable cornpany will continue in operètion.
The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy
at any time the financial position of the charitsble company and enable them to ensure that the financial
statements comply WFth the Companies Act 2rJ)6. They are also responsible for safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
In so far as, the Governors are aware:
There is no relevant audit inforniation of whtch the charitable companvs auditor is unaware; and
The Governors have taken all steps that they ought to have taken to make themselves aware of any
relevant audit information and to establish that the auditor is aware of that information.
Governors and Strategic Report approved and signed on its behalf by
KH Woodward
Chairman
Date
Governors. Report and Financial Statements 171 P a g e

Independent Auditorfs Report to the members of Halliford School Limited
For the year ended 31 August 2025
Opinion
We have audited the financial statements of Halliford School {'the charttabbe companv) for the year ended 31
August 2025 which comprise the Statement of Financial Activities, Balance Sheet and Statement of Cash Flows
and notes to the financial statements. including signfficant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Rewrting Standard 102 The Financial Reporting Standard applicable in the LJK
and Republic of Ireland (United Kingdom Generally Accepted Accounting Pratticel.
In our opIn￿n the financial statements:
give a true and fair vtew of the state of the charitsble companrfs affairs as at 31 August 2025 and of its
income and expenditure. for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and
have been prepared in accordance with the requirements of the Companies Act.
Basis for opinion
We conducted our audit in accordance with International Stèndards on Audtting IUKI IISAS IUKII and applicable
law. Our responsibilities under those stsndards are further described in the Auditorfs 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 U
including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilitie5 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 auditin8 the financial staternents. we have concluded that the trustee's use of the going concem basis of
accounting in the preparation of the financial statements Is appropriate.
Based on the work we have performed, we have not identFfied any material uncertainties relating to events or
conditions that, individually or collectivety, may cast Significant doubt on the charitable company's ability to
continue as a going concem for a period of at least twelve month5 from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The trustees are responsible for the other information contained within the annual report. The other
information comprises the information included in the annual report, other than the financial statements and
our auditorfs report thereon. Our opinion on the financial statements does not cover the other information
and, except to the extent othenvise explicitly stated in our report. we do not express any fomi of assurance
conclusion thereon.
Governors, Report an(1 Financial Statements 18 | P a 8 e

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 obtsined in the audtt or otherwise
appears to be materially misstated. If we identify such rnater￿1 inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information. we are required to rewjrt that fart.
We have nothing to report in thi5 regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion based on the V￿rk undertaken in the course of our audit
the information given in the tru5tees' report. which includes the directors. rewrt and the strategic report
prepared for the purposes of company law, for the financial year for which the financial statements are
prepored is consistent with the financial statements. and
the strategic report and the directors, report included within the trustees, report have been prepared in
accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the charitable company and their environment obtained in the
course of the audit, we have not identtfied material misslatements in the strategic report or the directors,
report included within the trustees. report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 21YJ6
requires us to report to you rf. in our opinion:
adequate and proper accounting records have not been: or
the financial statements are not in agreement with the accounting records and returns: or
certain disclosures of trustees. remuneration spectfied by law are not made- or
we have not received all the infonnation and explanations we require for our audit.
Responsibilities of trustees
As explained MO￿ fully in the trustees. responsibilities statement set out on page 17, the trustees (who are
also the director5 of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial staternents and for being satisfied that they give a true and fair view, and for such
internal control as the trustees determine is necessary to enable the preparation of financial statements that
are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitsble companvs
ability to continue as a going concern. disclosin& as applicable, matters related to going concern and using the
going concern basis of accounting unles5 the trustees either intend to liquidate the charitable company or to
cease operntions. or have no realistic alternatrve but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain ￿asonable assurance about whethef the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
Governors, Report and Financial Statement5 191 P 3 8 e

accordance with ISAS IUKI will always detect a materièl misststement when it exists. Misstatements can arise
from fraud or error and are considered material if. individually or in the a8Bre8ate, they could reasonably be
expetted to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irreÉularrties. including fraud and
non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the finoncial statements is located on the Financial
Reportin8 Council's website at: www.frc.or
auditorsres
onsibilities. This description form5 part of our
auditorfs report.
Extent to which the audit was considered capable of detecting irregularities. including f raud
Irregularities, including fraud, are instsnces of non-compliance with laws and regulations. We identified and
assessed the risks of material misstatement of the financial statements from irregularities. whether due to
fraud or error, and discussed these between our audit team members. We then designed and performed audit
procedures responsive to those risks. includin8 obtainin8 audit evidence sufficient and appropriate to provide
basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company
operates, focusing on those lav￿ and regulations that have a direct effect on the determination of material
amounts and disclosures in the financial statements, including financial reporting legislation and the Charity
SORP IFRS 1021, and tax regulations. We a5ses5ed the required compliance with these laws and regulation5 as
part of our audit procedures on the related financial statement items.
In addition, we considered provIs￿nS of other laws and regulations that do r￿t have a direct effect on the
financial statements but compliance with which might be necessary to the charitsble companrfs ability to
operate or to avoid a material penalty. We also ton5idered the opportunities and incentrves that may exist
within the charitable company and the group for fraud. The laws and regulations we considered in this context
were The Education Ilndependent School Standards) Regulations 2014. General Data Protection Regulation
IGDPRI, Health and Safety le8islation. Taxation legislation and EmpSoyment le8151ation.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and
regulations to enquiry of the Trustees and other rnanagement and inspeCt￿n of regulatory and legal
orrespondence, rf any.
We also considered the opportuntties and incentives that moy exist within the charitable company for fraud.
We identified the greatest risk of material impact on the financial statements from irregLElarities, including
fraud, to be within the override of controls by management. Our audit procedures to respond to these risks
included enquiries of management and those charged with governance about their own identification and
assessment of the risks of irregularities. sample testing on the wsting of journals, substantive testing on non-
fee income, reviewing accounting estimates for biases. reviewing regulatory correspondence with the Charity
Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with
governance.
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detetted 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 lirre8ularitiesl is from the events and transactions reflected in the financial ststements. the le55
likely the inherently limited procedures required by auditing standards would identify it.
In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may
involve collusion, for8ery. intentional omissions, misrepresentations, or the override of internal controls. We
are not responsible for preventing non-tompliance and cannot be expected to detect non-complvance with al
Governors, Re￿rt and Financial Statements 201 P a g e

laws and regulations.
Use of our report
Thi5 report is made solely to the charitable companrfs 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 companrfs members those matters we are required to stste to them in an auditorfs report and for
no other purpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone
other than the charitable company and the charitable companls members as a body, for our audit work. for
thi5 report, or for the opinions we have fornied.
Dipesh Chhatralia
Senior Statutory Auditor
For and on behalf of
Crowe U.K. LLP
Statutory Auditor
London
Date-. 11 De￿mber 2025
Governors, Report and Financial Statement5 21 | P a g e

Halliford School Limited
Statement of Financial Activities
Ilncluding income and expenditure account)
For the year ended 31 August 2025
Totsl Funds
T4ts1 Funds
Notes
Inrome Iro
tknnations & Legaues
Investment Income
Income frorn school fees
Total Inwme
321.531
11,43&786
323.928
11.436.786
￿167.6f
213,575
9.853,7C6
10.129.517
Eypendtture on
Charitable Activitie5
To>1 Experyhttvt
lQ147.7%
L247
iQ149,043
9,129.LWI
9.129.081
Plet IncornelexpEndltyrEI
L617
1614617
GalRslllossesl on revaluation of fixed assets
Li11486
Net Movernent in Fund5
Total Fund5 broughtforward
L617.ffj7
15.228,271
L6W617
ILbl.323 15.415.959
2.U3,153
13,302,fl
Fund Balanthsat31AuKu5t25
1(4626 17.IW)6 4415.959
Governors, Rewrt and Financial Ststements 221 P a g e

Halliford School Limited
Balance Sheet
As at 31 August 2025
Company Number IXJ575324
21123124
Total
Total
Notes
Fi¥ed Assets
Tangible Assets
17,572,292
17.572,292
16.743.052
16,743.052
CurrentAssets
Slocks
Debtor5
Cash at bank and in hand
Short terrn deposits
147,593
3,816,
3.475.943
4.210.CQ2
11.6XJ.X
2.￿.936
5,TrJ,(X)2
8,952,636
Credltors.. amounts fallin8 due wiihin one yeaf
Net Current Assets
&446.CÉ7)
5.2(11.417
13,232,332)
5,720.3¢
Total A55ets le55 cuffEnt liabilitie5
U776,7O3
22,463,356
Creditots.. amount5 falling due after more than one year
15.7411331
17,rJ17.3971
Total Net Assets
17,034,576
15.415.959
Funds
Unrestrirted Fund5
Restricted Funds
£ndowment Funds
16.845.738
83.212
IOS.626
15.228.271
83.365
l(M.323
Total Funds
17,034.576
15.415,959
The Financial Statements were approved by the Board of Governors on 18 November 2025 and signed on its
behalf by..
odward
Chairman
Governors, Report and Financial Statements 23 | P a g e

Halliford School Limited
Statement of Cash flows
For the year ended 31 August 2025
NetUsh Inflowlrorn opertin£artivitie5
9W229
5,(87.691
Cash flows from investing activities:
Purchase of property. plant and equipment
Interest received
Nel cash used In Investingacti¥itie5
11428.6311
323.928
14M4703)
11361.7ni
213,575
1114&1961
Cash flow5 from finanang artivities:
Repayment5 of borrowing IBank loanl
Cash inflows from new bormwing
Interest paid
Net ash used In flnanclngactlvltles
1336.4131
I387.8￿)
1510,933
1231.2831
89L850
1238.1051
{574518
Change in cèsh and tash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and tash equivalents at the end of the reporting period
I7￿￿.9)3)
8,446,938
7,64945
3.84L346
4,605.592
&446,938
Govemors, Rewrt and Financial Statements 241 P a g e

Halliford School Limited
Notes to the Financial Statements
For the year ended 31 August 2025
Accounting Policies
a. Basis of Preparation
The financial statements have been prepared in accordance with the Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting SLindard applicable in the UK and Republic of Ireland IFRS 1021
effective January 2019 - Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 and the Companies Act 2(K6.
Halliford School Limited meets the definition of a public benefft enttty under FRS 102. Assets and liabilities
are initially recognised at historical c05t or transactÈon value unless otherwise stated in the relevant
accounting policy notes.
The accounts have been prepared on a going cOn￿rn basis as there are no material Ltncertainties
surrounding the charitable companws ability to continue as a going concern.
b. Income
Income from charitable activities relates to gross fees charged for the school year ending 31 August 2025.
School fee5 are accounted for in the pertod in which the service is provided. Fees receivable are before
(leduction for bursaries and scholarships granted by the school. Fee income received in advance is
deferred.
t. Expenditure
Expenditure 15 recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required. and the account of the obligation can be measured
reliably.
Expenditure on charbtable activities relates to tuition costs. support costs including depreciation, school
running costs and governance costs. and bursaries and scholarships awarded to students.
d. Tangible Fixed Assets
Tangible assets excluding land and buildings are stated at cost less accumulated depreciation and
accumulated impairment losses. Cost includes the original purchase price and the costs directly
attributable to bringing the asset to tts working condition for its intended use. The capitslisation threshold,
with the exception of computers, which are treated as a group asset. is £l.(KQ.
Land & buildin
Land and buildings include freehold property and are measured at fair value at the date of revaluation less
any subsequent accumulated depreciation and subsequent accumulated impaimient losses.
Go¥emors' Report and Financial Statements 251 P a g e

De
reciation
Land is not depreciated. Depreciation on other assets is calculated, using the straight-line method. to
allocate the depreciable amount to their residual values over their estimated useful lives. as follows:
Freehold buildings
Additional building costs
Plant and machinery
IT luser interface)
IT1Server5 etcl
Vehicles
50 years
15 years
5- 10 years. plus a piano depreciated over 20 years
3 years
5 year5
4years
Assets under construction are not depreciated until they are cornplete and in use.
e. Ta￿tIon
The School, as a registered charity. is able to take advantage of the tax exemptions available to charitie&
Accordingly, there is no corporation tax payable on the net incoming resources.
f. Financial Instruments
Financial assets and financial liabiltties are recognised in the balance sheet when the company becomes a
party to the contraciual provisions of the instrument in accordance with the substance of the contrartu31
arrangements entered into.
Trade and other debtors and creditors are classified as basic financial instrumentsand at initial recognition
are measured at transaction price. Debtor5 and creditors are subsequently measured at amortisetl cost
Using the effective interest rate method. A provision 15 established when there is objective evidence that
the school will not be able to collect all arnounts due.
Cash and cash equivalents are classified as basic financial instruments an(1 comprise cash in hand and at
bank and bank overdrafts which are an integral part of the school's cash management.
A financial liability in the form of a bank loan is included in creditors due within one year and creditors
falling due after more than one year. Bank loans are initially recognised at the transaction price including
transaction costs. Subsequently. they are measured at amortised cost using the effective interest rate
method, less impairment. Details of carrying amounts. terms and conditions of the loan, security and
interest expensed in the Ststernent of Finantial Activities a￿ included in note 51.
g. Stock
Stock held relates to IT device5 available for sale to st¥Jdentslparents for LEse in education. Stock is valued
at the lower of cost and net realisable value. Stock is held as part of a charitable activity and is provided
at a subsidised cost. In line with Charities SORP IFRS 1021. net realisable value is based on the service
potential provided by the item of stock and is not written down unless stock is damaged or obsolete.
h. Pension Schernes
The School contributes to the Teacher< Pension Scheme 1.the TPS") for some of its academic staff. The
pension charge for the year includes contributions payable to the TPS of £511.13112024.' £754,428). In
Govemors. Rewrt and Financial Statements 261 P a g e

Septernber 2024 acadernic slaff were 1150 given the option to joln an alternative defined contribution
scheme. These contributions are accounted for in the period in which they relate.
The TPS is an unfunded multiomployer defined beneffts pension scheme governed by The Teacher
Pensions Regulations 2010 las amended) and The Teachers, Pension Scherne Regulations 2014 las
amended). Members contribute on a "pay as you go" basis with contributions from mernbers and the
employer being credited to the Exchequer. Retirernentand other pensKJn benefits are paid by public funds
provided by Parliament.
The employer contribution rate is set by the Secretsry of Stste following scheme valuations undertaken
by the Government Actuarfs 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. The Valuation Report shows
notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.
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 employer contribution rate of 28.68%.
For non-teaching staff the School operates a stakeholder pension scheme managed by Royal London.
These contributions are accounted for in the period in which they relate.
Key Sources of Estimation Uncertainty and Judgement
The preparation of financial statements in confomiity with the statement of recommended practice
requires management to rnake estimates and judgement that affect the reported amounts of assets and
liabilities as well as the disclosure of contingent assets and liabilitie5 at the balance sheet date and the
rewrted amounts of revenues and expenses durin8 the reporting period.
There Is estirnation uncertainty in calculating the bad debt provision. A full review of fees receivable is
carried out by management regularly. Whilst every attempt is made to ensure that the bad debt provision
Is as accurate as possible, there remains a risk that the provisM)ns do not match the debts that prove to be
ultimately irrecoverable.
There is estimation uncertainty in calculating depreciation. A full line by line review of ftxed assets IS
carried out by management. Whilst every attempt is made to ensure that the depreciation policy is as
accurate as possible, there remains a risk that the policy does not match the useful life of assets and that
estimates for resldual amounts recoverable may differ.
Govemors, Report and Financial Statements 271 P a g e

staternent of Flnancial Activitie5- Unrestricted Funds
Com aratlves to SOFA frorn
Umstrided
Fund5
Funts
Tot* Fwds
Toia Funds
1*5¢
14otes
Inclirneand Endowmentslrom
L>)nanons & Legaue5
Investmentlncon
Incorningfrom chaiitsble
6L667
2111921
L3,107
213.575
447.9¥J
lQ447.9YJ
9.491,776
7U172
159L329
ndiiure on thontable
Activitie5
School Se￿ite$
Support Costs
Bur5ane5ané Scholar5hip5
Trrta P2sowres E¥pendEd
5.5C4844
3.621237
5Y.2
4,￿*.028
1kn.421
$40.151
162Q762
L475
NetlnrornelexpEndibJRland
Ttan5fer between fvnds
Gainslllossesl on revaluation
ffixedasse
IID,486
NetM¢mTh*rfiD Fwds
Total Fufflds brou8htforwwd
zits353
30Zf
725
IOL837
S4877
F￿d 8aanttsatXAwust
Income and Endowmentsfrom
a. Donations & Legaaes
£6,0￿ in donations were receNed from the PTA Events organised by the PTA over the last two years
raised funds to support student activities.
b. Investment Income
Represents the interest earned on Funds.
Governors. Report and Financial Statements 28 | P a 8 e

Unrestricted Incorne frorn Charitable Activities
This represents school fees receivable and other educational income.
The School'5 fee income cornprises:
Gross Fees
Less bursaries. scholarships and staff discounts
lQ924.823
1795,3591
.U9.465
9.675,IfAJ
1594,2251
9JJKI,935
Anallary Income
Other Income
744730
24,(MO
459,259
LJl7.321
Incorne from Chèritable Acll¥ille5
786
9,851705
Anollary Income includes Income from Caterin& Coach 5ety1￿ and IT Equiprnent.
enditure on Chaiitable Activities
d. Expenditure
Totsl 2024
Charftable AclSvSlles
Teaching
Welfare
Premises
Support and Gowemance Cosis
4.707.8n
357.659
I.SY).715
242.
891073
948.241
6,254586
El#).541
L689,973
1.59).943
5.SC6.844
514,653
1.776.078
L331.507
9.119,Q81
65L702
5.9W440
e. Employees
st￿C0Sts
Wage5 and Salaries
social secuThty costs
Pension Costs
Other Costs
4.432.310
3.￿.7￿0
420.933
87&797
85,554
5.358(IZ4
932.L¥14
4S.736
Governors, Rewrt and Financial Statements 29 | P a g e

Average Numberof Empli>yee5
Teaching
Other
37
Cost of key management personnel (Senior Management Team) included above is £9(X).512
12024= £853,206). During the year there was l Redundancy and Termination paymerst totalling £12.244
12024= £01. No amounts were outstanding as at 31 August 2025.
The following number of employees received benefits totslling between:
£EI],CO] and £70.CO]
£70,Wl and £80,(XKI
£W,(XJl aftd £90.LU)
£￿,[x)I and £l(K),(XXJ
£i(J),(K)l and £IIO,(XM)
£IIO.DJl and £130.(
£130,tJJl and £140,cro
Govemors. Report and Financiol Statements 301 P a g e

Movement in Funds
A detailed breakdown of the movement of the Endowment Funds, Restricted Funds and Designated Funds
15 shown below:
a. Current Year Movement Endowment and Restrirted Funds
Ba￿a￿e at
31Aug 24
Inc¢xnlng
Resources BalarKe at
Resources Expended
31Au8 25
Endowment Funds
Endowment Funds
Totsl Endowment Funds
1(fv1,323
I,X13
105.626
105.626
Bursary and Scholarship5
A.J. Vincent
Hardshlp Burs￿ Fund
Fee donations
Restrfrted Donatlons
Music department
Prizes and Awards
A. Hitchens- Memorial
Guy Valadon- Single Science
J Hobbs- Memorial
John Crook
John Lewis- History
Ken Russell - Trophy
Neil Jones- Memorial Fund
Norma Cook-senior Latin
Peacock-iatin
Peter Groves-Chemi5try
WendySimmons-MFL
Bahadur Sunderjl- Further Maths
Crosby- Maths Prize
Valerie Brookin8- History Prize
Oliver GrifFin- Government and Politi
Totsl Prizes and Awards
71974
73.942
12
1.027
L174
14¥2
2,511
1,203
L240
991
1241
19
74
83
144
554
578
352
43
325
335
{611
IB7
Total Restricted Funds
L247
81212
Governors, Report and Financial Statements 31 | P a g e

Prlor Year Movement Endowrnent and Restricted Funds
Balance
Incoming Resour
31Aug Z4 Resouries
Expended
Balance at
31 Aug 24
Endo￿Thent Funds
Endowment Funds
Total Endowment Funds
Iin,837
I￿.&37
IIM.323
1(4323
Bursaryand Scholarshlps
A.J. Vincent
Hardship BU￿ary Fund
Fee donations
Restrlcted Donatlons
Music department
Prlzes and Awards
A. Hitchens- Memorial
Guy Valadon- Single Scien
J Hobbs- Memorial
John Crook
John Lewis- History
Ken Russell - Trophy
Neil Jones- Memorial Fund
Norma Cook- Senior Latin
Peacock- Latin
Peter Groves-chemistry
WendySimmons-MFL
Bahadur Sunderii - Further Maths
Crosby- Maths Prize
Valerie Brooking- History Prize
Oliver Griffin - Government and Politics
Totsl Priies and Awards
71.926
71974
3.676
L475
1201
2.476
20
15
1492
1185
L241
17
L243
87
74
102
144
561
81
62
335
1611
83
1451
iii
Total Resorlded Funds
&168
Governors, Report and Financial Statements 32 | P a 8 e

b. Designated Funds
At each year end, the governors determine how much fvnd5 if any are to be designated for the purpose of
funding future capital projects and/or are released to fund existing projects. In order to meet the reserves
required by the Charities Commisslon guidance the School maintains £2,(KJ3,963 at all times. The Governors
review the finances, budgets and spend of the School on a termty basis against the budget as part of the
effective financial management of the School.
Unrestricted funds available in 2025 are £13.972,712 {2024 £12,447.5851 and a proportion of this has been
allocated and rin8 fenced for future capital projects.
Balance Sheet
a. Fixed Assets
Landand Assets Lwbder Fwninye and (ryter
IAwVehldÈ% T*xal Funds
Co
At OV¢￿024
Additions
Disposals
gec1355ifiration of Assets
At 3Y(W025
14Q¢MX)
761111
L337.044
IQC66
1512591
143.440
57&537
$61
1512181
17&
1&236,618
1,428.6
1111.4781
1.86Q759
763.870
epredauon
At OVIW2024
Char8e foi theyear
Elimination on di5pJsal
J.4W,626
597.694
JC8.7WI
L981.539
17&8>J
15L5621
32.t61
158.2181
44.225
At3yIW2025
NetBookV4lue
AtOVLY312024
At3VW202S
14.14QLD)
388.516
45SJbl
.458
I￿.8
1fi743.05Z
17.sn.292
b. Flxed Asset Disclosure5
Freehold Land and buildin
The Land and Buildings were revalued in March 2024 by Gerald Eve. LLP an independent valuer. The
property has been valuetl on the basis of Market Value for the property as a fully equipped operational
entity, for Loan Security Purposes. Evidence of freehold and leasehold transactions of other schools and
similar properttes wefe analysed, adjusted. and applied to the property held by the chartty.
Their valuatlon is £14.140.(
If freehold land and buildings had not been revalued. it would have been Included at the following values..
Governors, Report and Financial Statements 331 P a g e

Aggregate Historic Cost
Aggregate accumulated depreciation
Aggregate carrying amount
14.174.887
13,555.216
3.372,CP38
3,(B2.3fll
IQWI789 10,462,856
The property was purchased in 1956. Depreciation ha5 only been charged on the property since the year
ended 31 August 2(KJ2 in the financial statements. therefore the above calculations are based on
depreciation charged from this date.
Included in ICT are fixed assets which V￿re previously held under two finance leases. These have now both
ended.
Stock
IT Devi￿5
147.593
147,593
Stock held relates to IT devyces available for sale to students/parents for use in education.
d. Debtors
Fees Receivable
Bad Debt Provision
PrepaymentslAccrued Income
3.558.118
140.1191
298,%7
3.816.966
11979
18.1651
295,032
The substantial difference in parent debtors between 2025 ènd 2024 was due to the introduction of
VAT and invoices being raised in June 2025 for the Autumn Term of the following academic year. The
corresponding deferred income is recognised in creditors on the balance sheet and the output VAT is
also a creditor on the balance sheet. Ongoing the variance will be reflectNe of this new presentation
and will not generate è substantial variance.
Governors, Report and Financial SLitements 341 P a g e

e. Creditors- Amounts falllnE due wlthln one year
Deferred Income
Fee5 in Advan￿ Scheme
Accrued Expenses
Trade Creditor5
3.481.520
1.039.446
162.975
248,
537,475
6&8.373
2.964
97,177
23L
Taxation and s￿al Security
Othercreditors
Bank loan INote 51)
651.725
270.148
124332
f. Deferred Incorne
Deferred income comprises fees paid upfront relating to the year ended Au8USt 2026.
Balance a5 at I September 2￿24
Amount released to income from tharitable activities
Amount deferred in year
Balance as at 31"August 2025
2318ll
12318111
261373
12613731
231811
534056 23Uii
g. Creditors- Amounts falllng due after more than one year
Fee5 in Advan￿ Scheme (Note 5hl
Other Creditors
Bank loan INote 511
LYJ9.211
4.7(Q797
5.1)18,186
7.047.397
h. Fees In Advance S¢herne
Parents may enter into a contract to pay the school in advance for fixed contributions towards the
tuttion fees for a minimum of two years. The money may be returned subject to specific conditions
on the receipt of notice. Assuming students will remain in the school. fees in advance will be applied
as follows=
Governors, Report and Financial Statements 35 | P a g e

Amounts falling due within one year
Amounts falling due afterone year
Total
1.039.446
I.tW121
2.107.567
9￿.222
1,993,211
2.988.433
Summary of mo¥emertts in liability
Balance a5 at I September 2024
New Contrarts
Refunded
Amounts Ltsed to pay fees
Balance as at 31AuEust 2024
l98&433
93.297
3.(M)IIMJ
9T2.159
13.657
1988.433
Financial Inslruments
Amounts repayable by instalments are as follows-
Bank loan payable (falling due within one yearl
Bank loan payable Ifalling due in more than one year but les5thzn Sye3rsl
Bank loan payable (falling due In rrK&￿ ihan 5yearsl
Total
270.148
L2EL).339
3.787.847
5,318,3a4
L336.%
3,363.838
5JTh,705
The bank loans are Secured on the School premises which has a carying Value of £16,966,215 on 31
August 2025 and on all the assets of the company. If any event of default Specified in the terms occurs,
then the bank may demand immediate repayment of the loans, all interest accrued and all other sums
payable.
The School holds a loan with Natwest Bank which commenced in August 2024 for £3,360,l￿). This
will be repaid over 15 years. Interest is accrued at a variable rate of 2.0% above the base rate. Interest
costs recognised in 2024125 relating to this loan totalled £165.31512024= £151.7861.
The School has a further loan with Natwest Bank for £2.350.(M)). which commenced in February 2022
and will be repaid over 15 years. Interest is accrued at a fixed rate of 3.87%. Interest Costs recognised
for 2024125 relating to this loan totalled £72.790 (2024= E79.497)-
Govemors. RekK)rt and Financial Statements 361 P a 8 e

Reconciliation of Funds
The School's funds are considered below.
Fund5'.
FuThJ5
To
8alan￿ at Jstsept ))24
NEtKtyernentsinye
Transferln theye
G¥in511lo55e51 rev81￿￿00nO1 fimedassets
ealan￿ ar3tsfAu83)25
11447.585
L617.467
1913
1.323
I.fjW617
Lfm.866
iQ486
Comparatives of school fvnds in prior year
Fwnd5'.
Sur*s
tstsepr XQ3
NetMO¥ementsin￿ar
TransttrItst￿ year
G71n5111055esl wrevalv*ionofflxeda5sets
a￿an￿ at31stAug2024
115IIS7
577.29B
S35.188
LIS1
Unrestricted funds represent accumulated income from the Schoofs activities and other sources less
expenditure that are available for the general purpose of the School.
Restricted funds represent donations received from extemal donor5. which are used for prizes and awards
each year.
A Declaration of Trust established the Endowrnent Fund in 1968. This Trust fund 15 a permanent endowment
that is the capital of the Trust fund and cannot be spent. only the income accrued on the capital sijm.
k. Analysls of Net A55et5 between Funds- Current Year
Funds
Fund5
Funds
Totsl
Tan￿ble Assets
CurrentA55ets
Creditors due within one year
Creditor5'. AmountsfallÉn8due after one year
Totsl Net Assets
17.571292
11.461.669
17.571292
IL650.504
16,446.CE71
5.742.133)
105,626 17.034,576
i1￿,626
15.742.1331
IW%741
Governors, Report and Financial Statements 37 | P a g e

Analysis of Net Assets between Funds- Previous Year
Unrestrirted
Funds
Funds
Total
Funds
Tangible A55ets
Current As5et5
CreéitOfS tlue within one year
Creditots.. Amounts falling due afterone year
Total NetAsse1S
1fi743.052
&764.Y8
13.Zl13321
17.047.397)
2n
16.743.052
8.951636
13.232,3321
17,047.3971
15,415,959
104.323
. a. Reconciliation of net movement in funds to net cash from operating activities
Net incomellexpenditurel
L618.617
LO)J.8&5
Adju5tmentsAor.'
Depreciation Charges
Net Interest adjustment
Loss/lprofitl on the sale of fixed assets
Ilncreasel/Decrease in stocks
IlncreasellDecrea5e in debtor5
Increase/ltkcreasel in creditors
597.694
185.8231
1.697
5&259
13,517.1191
2.244.
565.179
17.
I93.￿)
139.5271
3.651653
Net cash wovlded by{used Inl opeMln£xd¥ltles
6. b. Analy515 of rash and ￿5h equivalent5
Cash ip hand
Short term deposits
Total cash and cash
3.475.913
4,210,O)2
2.￿936
S.7￿5.(￿12
ul¥aents
6.c Analysls of Change In net (debt)/funds
Netcash
Cash at bank and in hand
Shor( term deposits
2.￿936
5.FAS.C•)2
444fi938
3.475.943
4.210,1K)2
7.6%5.945
ILSqO.CO)
176J.¥43
Debt
OebtfallTnBdue within one yezr
Debtfallingdue afterone year
12XJ.148]
15,lJ441861
15.3W3341
137,7&)1
I>)7.￿}
347.389
14.71J).79n
4,628 (s,￿￿￿]
Totsl
3.124EI
I451.￿1
2.677.240
Governors. Re￿rt and Financial Statements 381 P a g e

7. Operating Leases
The total future minimum lease payments under non-cancellable operating leases fall due as follows-
Within one year
Between one and five year5
More than f ive years
Totsl Operating Leases
38,717
59.428
4873
98,145
57.833
The total operating lease expenditure included in the Statement of Financial ActNitles is £25.325 12024..
£30,958).
8. Transactions with Related Partles
There was no remuneration paid to the Go¥emors in the year {2024.' Nill. nor expenses paid then reimbursed
to Governors12024: Nill. There were no other related party transaction5 in the current or prior year.
9. Legal Status
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the
event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per rnember of
the charity. The charitable CoMpan￿S registered office is included on page 3.
Governors, Report and Financial Statements 39 | P a g e