THE GORDON FOUNDATION ANNUAL REPORT AND CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025 Company Nuimber 27272 Chèi'ity Nuinber 312092
THE GORDON fiOUNDATION INDEX P#gv Repoit of the Foundation TTUStees Repoi't of the Auditojs 12-14 Consolidated Statement of Pii)aiicial Activilies 15 Consolidated and Chai'ity Balance Sheets 16-17 Consolidated Cash flow Siateinent 18 Siateinei)t of Accouiiting Policies 19-22 Notes lo the Flliancial Stateinents 23-38
THE CORDON FOUNDATION REPORT OF THE FOUNDATION TRUSTECIS INCLUDINC THE STRATEGIC REPORT PAtI'n His Majesty Tho Kiiig Vicc Presideiits The Lord Mayor of London Tlie Loi'd Lieutenant of Sui'iry The Bishop of Guildford Ambassador5 Mi. P Talbot Mr M Hawkeswoi'ih Mr P Wynter Bee Foundation Committee (The Board) I,ieutcnant Ci¢iieral ,%ir Richaiyi Cripwell CB, CBE Mr R Whittingti)n DL Mi. M Barnes Mrs J Valnei. Mr T Goi'don Mrs A Stephens Major General A Fay CB Mrs D Mclcenzie Mrs S Hoiinshain 4.6,7 Mr P Jonts Mr 8 Azecm Brigadiei. J Mullin Ms J l(ruger Lord LancasteT Lt Col J Fei'i)andes MBE Mrs S Rawal 1.7 MrJMoss' Mr J Buckland, He8d Teacher Mr A Moss Foundation and Compaiiy Secretary Mrs J Taylor Chaiiiman Vice Cliaiiman Treasurei. Chau. of Govemois Resigned 26 June 2025 Appliinted 18 Januai'y 2025 Appointed 18 Januaiy 2025 Clerk to the Voundation Committee Mrs H Lowndes Appointed I Septeinbei. 2025 Commlttcc Mcmbcrshlp Meinbei. of the Foiiiidalion Developineni Coininittee Meiiibei. of the Joint Finance & Estates Coinmittee= Meinbei. of the Inveslment Panel Meinbei. of ihe Awai'ds Panel- 4 Membttj. uf the Governance Coininiltee= Meinbei. of the Enterpi'ises Coininillee Govei'nor of Gordon's School= Meinbei. of the Audit & Risk Coiiiinittee = Me2nbei' of the Pei'foriiian¢e Managenient & Salaries Coiwnittee-
I'AC COIIDON fioUNDATION REPORT OWTHE FOUNDATION TRUSTFF.S INCLUDING STRAI'lICIlC Rfi I'OR'r ADVISEIRS Baiilcei's,. Batth of Scotlpnd 38 Thi'esjdneedle Street London EC2P 2HL Aiiditors: Alliotts LLP 3, Lviidon Square CTQSS Lanes Guildfoi'd GUI IUJ Investmeiit Managers: Quiltei. Cheviot Senatoi. Hoiise ¥5 Queei) Victuria Street Lot)don EOIV 4AB Legal Advisers: Stolle King LLP BoLindary F10115e 91 Cliartei'hoiise Street Londo ECIM611R Moore Barlow LLP The Oiiel Guildford Sui'iey GU13SR STATUS AND ADMINISTRATION Registered Office.. The Goi'don Foundation Goi'doi)'5 Scliool West Bnd, Woking, Surrey GU24 9PT
THE GORDON FOUNDA'fioN REPORT OFI THE PIOUNDAI'ION TRUSTEES INCLUI)INC THf. STRATfiGIC Rf4 I'ORT (continued) STRUCTURE, GOVERNANCE AND MANACEMCINT Coiistitution The Goi'don Foundation is a coinpony liiiiited by guaraiitee (Coinpany No 27272), ils I'egisteird office beiiig at Goi'don's School, West Eiid, Wokiiigy Suri'ey, GU24 9PT. The coinpany is a charity for educatioiial purposes (iegisteied chai'ity No 3120921. Followuig ai) extei'iial review of governance dui'ing 2022. revised aiid Iipdated Articles were appi'oved 011 21 Janiiary 2023 and lodged with Coinpaiiies House and the Charity Coiiimission. Managemei)t of the charity is vested in tl)e Foundaiion Coininiltee, who al'e dii'ectoi's foi. tlie puiyoses of the Coinpaiiies Act and trusl¢cs foi. the piii'poses of cliarity law. lil tliis regai'd tliey coinply with the requii'einents of the Charities Act 2011, the Truyt Deed nd Ihe Chai'iiies SORP 2015 (FRS 102). Follndaiion Comini(tee ineinbeis are iequired to retire froin office every thii'd yeai. fi'om the dattt of EleLtion biit <ire eligible fvi. re-eleLtion for a Inaxllnuim of three tel.1s. Tlie Fouiidati01l Comimittee has powers at aiiy tllne to appoint additional Inen)bers. Tl)e day to day running of the Foundatioii is the respunsibility uf ihe Head Teachei., Finance & Opei'ations Directoi., HR Dll'ectoi.. Estates Directoi. and Development Direcloi.. The chai'ity was foiinded at the expi'ts& wisli of Queen Victoi'id as the national ii)einoi"ial to General Gordon who was killed in Khai'toum iii 1885. The Gordon Foundation owiis, fi'ethold, the land and buildlligs foi'inerly known as the Goi'don Boys, Honic which was Lhanged tu The Gordon's Boys, Hoint in 1943, started to accept girls and day boardei's fi'oin 1990 and is Iiow known as Goiylon's School. The majoi'ity of tlie GovemoTS of Gordon's School, a State Boarding Sch901 with ALadeiny status, ait either trustees of or al'e appointed by The Gordon Foundation. Following a deoision made in 2019 to increase the nuinbei. of lex-offiGioI ViLe Presidents, a recoinmendation lo introduL'e the position of Ainbassador was also approved. Ainbassadors, a 5even-year appointment, are forinei. thsLees of senioi'ity or long sei'vice who have ooiitinued inteTest ID SUPPOlting tl)¢ Foundation's work. Paul Talbut, Gurdoniyn and foi'iner trustee of over 30 years, service, and Mark Hawkeswoi1h, foi'inei. Treasurei., aLcepted the invitution to be the first Ainbassadors for The GoTdon Foundation while Peter Wyntei. Bee who retllEd in 20218ftei' 21 years, 5ei'viLe ts) Gordon's as trustee and foi. eight yeaiE a School G0velOr, accepted the Coininittee's invitation lo tonlinue his links as a Gojdon's Ainbassadoi.. The Leadership Teain controls the ri1TIng of the Foundation and School at an executive level and iinplements the policies ai)d decisions of the trustees and governoi's tlirough agreed sclieines of delegatioii. Key Inaiiageinent pei'sonnel air defined as Ilie Head Teaclier. Foundation Dllectors of the Business services, Deputy Heads (CuiTiculuni and Pastoi'al), DiiECtoi' of Co-curricular and Assistant Heads. Ari'Aiigemeiits lor setting pay alld remuneiTtion of key mgnagemeiil persoiiDel The Leadership Teain is paid on the Leadership pay scale which bi'oadly adheies to the leadei'ship pay bands Outlined lll the SLhool Teachei's. Pay and Conditions Docuiment. Leadei's Inust deinonstrate siistained perfoi'niance in respect to iheir perfoillnance objectives. non-teacliing leadersliip salaries are benchinai'ked agjainsl local Thiarket Conditioiis. The Perfum1ance Manageinent and Salaries Coinmittee awai'ds one inciriiiental Pollil on tlie Goiyion's Pay Scale where pcrfoiinance objectives al'e Inet and whei'e their is a siistained high quality of ovei'all pei'foi'inance. Pnlicies And Proeedui'es adopted lor the Indiietion and Tralniiig ofTrustees Prospccliv¥ triis*es al'e iiivited to Goi'doii's School prioi. to tlieir appointmeiit to iiieet witli the Head Teachei., Finaiice & Opei'ations Dii'ectoi., the Developineiit Dii'ectoi. and at least two trustees who iiiake their IEPOI't to the next Ineeling of the Govemance Coininittee. A schedule of triistees with their qualificatioiis aiid experieiice is Iiiainlained, cross-iefei'enrEd against tlie busiiiess iequireinei)ts of the Foundatioii, which assists in the selectioii of new tsustee5.
TFif. GORDON FOUNDATION RCI I'ORT OFTHFI IOUNDATION TRUSTCI ES INCLUDING THE STRATEGIC REPORT (coijtinued) Oi)ce appointed, new tt'ustees follow an indiictioll progiaiii which iiicludes ali iiidiictioii Ine¢ting with tlie Foui)dation Secretary and tlie Clerk which iiiclude5 an oveiview of tl)e coinpany and tlie ielationsliip between'l'lie Golylon Foui)dation Aiid Goi'don's School. They air invited to iiieet staff ineiiibei's iii oi'dei. to fainiliarisc thetii%elves with the School ds well as r¢ceiving copies Ot'policies and procediiies aiid otlier ielevaiit docunientatioii. All ti'iistees are eiicoiiraged to eithei. atteiid professional training coiirses or take online coiii'ses foI' tIUStees. All Ti'iistees are DBS cliccked. OBJCICT AND OBJECTIVES General CLirrently, the Imain activity of'fhe Gordon Fouiidation is the %upport of Goi'don's School, a non-selective, co-educational Slatc Boarding School for 946 reside21tial ai)d day boai'ding 8tudeiit.4 aged 11-18 years.'lThe School changed fTOlll VolLllltary Aided to Acadeiny Statt5 on l Janiiai'y 2013. 1.-Iinding fiDin the F.du¢ation and Skills Fui)ding Ag¢ncy pays tli£ cost of teaching and leaiiiing, deliveiy of tlic natioiial curri¢iiluin and soire clas5rooin la¢Elities. In addition to iiiana¥ing the estate aiid buildings,'lThe Goixlon Foiiiidation provides suppoi't servic¢s to the 8cliool and in pai'liculai. I'uns the bOa11]Ig operdtion foi. the day, weekly and fiill boai'diiig students aiid the exteiisive Co-cui'i'icular pi'ogianiines. foi. fainilie5 wlio requiiE financial sssi5tance with boai'diiig ehaiEes, The Goi'don Foundation 18 able to provide n)eans-tested biirsaries. The Gordon Enterprises IJK Ltd, a subsidiary of The Gordon Foundation, ovei'sees Inanag¢inent of and Iiire ofthe Gojylon's Spoits Hub, Icttitig of the School facilities when not required by the School and otliei. oppoitlinities foT liOI)-boai'dillg revenu¢ genciation. Proc¢¢ds fi'oin such activities are gift-aided to The Goi'doii foundatioii, desigtsated to the buTsaiy fiinds. Vision The long-terin vision 1.8 a faiiiily of Goi'don Foundation schools whci'e students, paiticularly tliose fi'ojn disadvantaged backgrounds, benefit fi'on) a GOIOn'S ediicalioii. An educatioii I.eCOlISed as aniong5t the liiiest in the woi'ld foj. the Calibre of yoiing people wc develop> the pi'ogiess they make and the diflerence they Inake lo tlie lives of others. Objeet The object of The Gordon Fouiidation is to educate or contribute to the ediication of boys and giTls havit]g particular regard to tl)ose with a specific boarding or educational i)eed, with a view to pi'epai'ing thein foT educatioii oj. foj. eariiing theii. livelihood, such object being in Continiiation of tl)e work of tlie iiiiincoTPOTated in5tittition kiiown as tlie Gordoii Boys, 14oine. established in July 1885 as the National Memoi'ial to General Charles Gordon CB. Objeetlves Whilst the main obje¢tive Df The (ioidon foundatioii is 5llPPOIt for Goixlon's School, tt'ustees apprceiate its widei. obje¢ls of eiicouraging and supporting residential boarding for 'necessitoiis' youmg people, iii)piDvii)g thc public's awareness of the valiie and benefits of residential boardii)g and increasing ftinds available to suppoit i'esideiitial boai'diiig. In settiiig tliese objectives and planning activities, trustees give careful consideration to the Cliai'ity Coininission's guidance on Public Bellefit.
THLT C'ORDON FOUNI)ATION REIPORT OPI THE PIOUNDATION TRUSTEEIS INCLUDINC THI STRATEIGIC REPORT (continued) OBJEcrivc Maintdill tlie Nalional Meiiiorial to Geiieral Goi'don ACTIVITIES TO fiULFIL THE OBJCicfivE Y7 Histoiy cla88¢s contiT]ue to include a shoi'l coiirse on the histoiy of Gordon's, the 110ine and .%chool, and tlie life of Gci)cral Ch81'les Goi'doi). Genei'al CiOI'doii's principles are I'¢ferred to aiid 11igintaiiicd withii) the updated sti'ategy, Visioi? foi. Goi.don s. Thei'e ale talk.s to stiidents on Coloiiialisin and a fociis on Geiieral Goi'don's legacy. An invitatioii froir the Gloiice.stei' Gordon League RFC, thoiight to be the last of the GoiKloii Fjoys, Clubs which were also c8t2blished in the late 1880's as a nieinoi'ial to General Goi'doi), to cstablish links ci)lltiniic8 to be InainlRined. Be alert to and take advantage of opportunities lo exteiid the influeiice of Gordon's at hoine and oveiBeas A range of pa)ershipS are iii place that beiiefit current studeiits and extejid die Goi'don's reach. In additiun lo the Harlequii)s RFC Pi'ograinine, Iht Mou with Aldei'sliot Town FC coiitinues posilively, dnd with Loi)don Pulse (Netball). Cooperation with Wokin&F High School, Robert May's School and Blejiheitn Higli Scliool coiitiiiues iiiidei. the Arete Partnei'ship, paiticulai'ly for studejit leadersliip 'ainuig and inter-school coinpelitioiis along> witli Head Teaehei. aiid Fijiance Dii'eclors Ineetings. Now iii its fourth year, tl)e partn¢i'ship launclied in 2022 with Coii)Inonwealtli Educalion Ti'kist coillinues to shal'e gjood pi'actice between Goi'doii's and tedchers lli Zainbia, Caineroon and Ilenya. Opportui)ities lor a Goidoii's 2 continue to be ex loi'ed as o oitunilies ai'ise. Ensurethat business services provided by I'he Gordon Foundation are fit for piirpose and commensurate with outstaiiding PTovÉsion Taking opportunities to review for impiDvenient is einbedded within the Business Support teams. Stsffing for the extensive Co-ciii'riculai. provision is iEgularly IEviewed and ainendcd to deinand and clianging provision and has resulted in tlie appointment of a iiew Co-cui'i'iculai. Director to fiirther streiigthen the piDvision along with improveiments to efficsency and cosiings. Inci'ease the Foiiiidatioi)'s financial stability and 5UPPOrt for tinancially necessitolls 5ttidents Maintaining a positive cashflow 8longside capital coininitrnents hos been chall¢iiging post covid but achieved with no recoui'se to any fi]I'ihei' B8nk fbcilitie apai't fi'oin existing eai)ital loans. By the end of the ycar. 79 studeiits weiE in receipt of a Ineans-tcsted buTsaiy with total spend £551.294 with 16 of those students supported also by eight different extemal educational ti'usts (£85,055). A continued rociis foi. the Devclopin¢nt l)irector 15 to contirtiie to incieasc fuiiding available foi. l?ursarics and Dew partnci'ships related to identifying and suppoiting nece5SItoi stiidents.%uited ¢0 o ortullities Yovided at Gordon'.% School. Iii Junc 2022, Gordon's was pi'e5ented with the Tiines Ediication31 Suppleinei)t Boai'diiig Scliool of the Yeai. A ward. This recognises iniiovalion, iiiiagination and effoi't5 to develop childi'en in ways that go beyoi)d a¢adeiii ic aehieveinent aiid tlie league tables as wel l as maintained Lonliniied excel leiice, Recognising tlie lack of pi'ovision in pi'imary schools for leaming Iniisical iiish'kin)ent5, a 5cheine offei-iiig Ii'ee groiip ttiition to Ycai. 7 stiidents slai'ted in 8epteinbei' 2022 with tlie intention of extending this for a Iiiaxin)iiin of tliree year8 and iiivolviiig studeiit5 in vlli'ioiis enseinbles. lliis scheine is devcloping well, with all paiticipating 5tILdent5 also play in eiisembles and most continiiing lessons the follow year. Tlie wide i?nge of Co-ciii'i'iculai. activities incliided stiidents travelling to paiticipate ii) MUN Coi)feieiices, Miisic and Draina tours, varioiis draina pi'odii¢tions including Sweet Cl)artty and the poi?ulai' 5tiident-led Dance Show. a gl'owing niiinbei. of students repi'csenting Goixlon's in coinpclitivc spoi'ls With 17 diffei'ent discipliiies in¢ludin netball football hocke clin olf chess, debatin and tennis. Delivei. WOTld-cla55 pa5toi.al Lair, CUITiculiiJn, and co-cw'riculuin
THLf CIORVON fouNI)ATION Rfr PORT ofi THC FOUNDATION TRUSTFfiS INCLUDING THE STRATf,GIC REPORT {contirtucd) ACTIVITifiS, ACHIE4VEMCINTS AND pfi FORMANCE Tlie Vision for Gordon s The 'Vision for Goi'don's. is the 5ti'ategic plan for Goi'doii's which sets Ollt our vision for the national iiieiiiorial to Genei?I Gordon to be Inore than a scl)ool, but a syiiibol of wliat can be achieved by a coininiinily iinited in Inalcing an oiilslandii)g conli'ibiition foi. the good of global Society, Ihi'nugli ils educationRI leadership and tliroiigl) the lives Gordtsnians go on to lead. This vision will be extended towai'd5 2035, the Foui)daiion's 150, aniiiversai'y. A Goi'don's education strives to be InoTe than tlie best possible examimatioll iesiilts, bui a IhoiDugh prepai'ation for life. Our aiin is to develop I'ounded world class, global citizeiis witli the chaTacteT, capabilities and confident huinility to achieve well, to stsy active, to appi'eciale what they have and to Coniiect ai)d give back lo thc cgininuniiies ll) which they live and woi'k. The Visioii for Gordon's is for the natioiial n)einorial to Geneial Goi'don to be a foi'ce for a intsre caring and ju3t world.. 8 woi'ld in whicli ineqiialiry in OpponItieS is diininishing,. whei'e individuals aTe treated SiTnilarly And have equal chances based not on priyilege. biit on how hard they woi'k for theinselves and others. Capital D¢velopmeiits Aside froin enlianciiig the extensive sporting and ci'eative arts facilities, the Estates Master Plan continues to improve teaching facilities, boanjing and visitor experience across the site. A Inajor five yeai., £1 inillion refurbishment of Residei)tial Boai'ding Houses begaii in the Sunimei. of 2022 witli two boys, Houses, Saiidi'inghani and Balinoixl, ba)efiting first. As well as updating baihrooins and study rooms, Ihe refi]I'bishment has iinproyed the liviiig accominodation. In Septeinber 2019 Woolwich House, the school's I Ith House, opened for the youngest Residential BoardeTS, providing co-educational residential accominodation for Year 7 entranis to the School. giving thein tlie oppoitunity to settle into Gordon's life in a smalleT and Imore bespoke environment. In 2021 the Sports Hall opened next ti) the exi%ting all-weather piteh. This significant and Inuch-need investtnent also included iipgrading the C&T pai'king and lighting on the noi'ih side of the esiate. Thei'e is also a second 3G all- weather pitch iii fi'ont of the Sport% Pavilion. The facilities weir fui'iher iinpi'oved in 2022 with the addition of a 150 SqU8re metre Fikniess Suite, officially opened by HRH the Duke of Edinbiirgh in Januaiy 2023. The latest teaching block is the India Building, openod ii) Septembei. 2022. The new 4-classi.ooni block replaces the out- dated 2-classrooni IT hiit. In 2025 the old school Gymnasiuin was converted into the 200 plus seat Wynter Bee Theatre. Ac4dett]it Results for the School During thc yehi. the School educated approxiinately 980 student.% betwccTr Ihc ages uf I l and 18. Recruitsi)ent coiitiniies to be strong with waiting lists for Icey Stages 3 and 4. Thei'c W¢ 274 ie5id¥ntial boarders and 360 students iii tlie Sixth Fonn. Tlie ICS5 eiii'i'iculum at Goi'doii's is rigorous and a higli pi'apotlion of stiideiits L)pt for ihe Inoi'e intellectually deinandllig siibjccts. 580/0 of Y13 LLavers obtained places at Ru85ell CJl'OUP univcrsitie5. Six 5tiidents gaii)ed places al Oxford and C8nibi'idge, foiir nbal'ked on medical training CQUTse8, fOr gained pi'ofe55ion bpoi'l coniTacts, two wei)t onto USA spoi't scholarsliips, two went for COLlI'ses overseas and three leave5 Opted for ApprentlL£sIIips.
THC GORDON FOUIYDATION RfiPORT OFTHE FOUNDATION TRUSTCI r,s INCLUDINC THC STRATfiGIC RE4 PORT (eoiitiiiued) A 14eYel results 2025 C.C,8E I'esults 2025 41 of ¢nti'ie5 w¢Y¢ grad¢d A ?0 /) of entries were graded A 88Vv of enlrics WeTC gyadcd A 50% of eniries were graded 9 - 7 840A of enlrius wcrr gradtd 9 93Yo of enlTleS WeTe graded 9 AverRgc performanc¢ per 51iid¢nt- BBB TEC L3 ZOZ5 BTEC L2 2025 4 10/0 of entries ¥vere gradcd Dil 870/0 of entries ivere grAdtd D I OOYO of entries were graded D More detailed inforii)ation on sludent aclivities aiid the Co-cui'riculai. progi?mine can be f(Trund on the School web51te www. Tordons.school as well ¢lS Il)e Annual Report of Ilie Gordon's School Acadejny Ti'ust. ACTIVITIEI S, ACHIEVEMENTS AND PEFORiKAIYCE Genei'xl i ils 140 Anniversaiy Year, stiidents in Gordon's Pipes aiid Druins had a once in a lifetijne opportunity as they perfoitned in Wiiidsor Castle foi. His Majesty Tli¢ King with a special pei'foi'iiiance in tlie Quadi?ngle of the Castle. Aftej. the perfoi'jnance, The Kiiig spoke lo all 52 ineinbei's of the Pipes and Di'uins and joined tliein for a pl)otograph. His Majesty also greeted inally of the pai'enls and staff. As part ol. its 140 Anniveisary, Dne hundred and forty students retra¢ed the steps of the ortginal Gordon boys some 140 years ago fi'om Brookwood Station to tlIE school sile in West End lel by ilie Pipes and Di'utns. 'Ihe event was a culjnination of the 140 ' ail¥el.5arY of Goidon's School with a fundraising day to i'aise money for BuiBai'ies and for the Steiiiway School project. Iii Noyeinbei. 2025 Goixloii's joiiied ali illubtJ'iOU5 list of institulivns froin around the UK to have forjned a pai1nei.sliip with Steiiiway and Sons, Ilie woi'ld's best kiiown aiid Ino&t ItbpeLttd Inanufacturei. of piaiios. Students ale able lo pi'actlse, I'elieai'se and be aeLoiiipaiiied on tlie5e high-qiiality insti'uiiienls as well as paiticipaling lli Sieinway-sponsoi'ed Inast¢irlas5es and events. With the 5UPPOIt of a &7enei'ou5 doJ)ativn along with donalions fiDin pai'enls, li'iends and stafi'to the Steiiiway Appeal, two grand piai)os and live uprights have beeji delivei'ed to the School with a Steinway Piano ReLilal taking place in whicli the All-steinway School plaque wa5 presented. Following the dissolution of the Go2'doniBn Associatioii and iE5por15ibility foi. all aluii)i)i-fociised activity incoi'poi'aied withiii tlie Developiiient Office, a key focu5 coiiliiiiies to be developing a stiategy foi. appi'opi'iate con)iiiunicdtitsii and eJigag¥n)eiit activity wilh each age groups. Witli Ilie agreenient ofiiie ineiiiber511ip, Inaiiagenient of Goi'doi)l(tns fiinds was ti'ansferi'ed ovei. lo Ilie Foui)dation with ovei'sight also pj'ovided by a new Goj'donian Advi501y Paiiel. An iinpvrlaiit fiii)ction of tli¢ Panel is to oveJEee the fujidllig aiid allocatioji of tlie piDvi5ioI) of the Gordoi)ian Awai'ds, lunded froim Goi'dtsniaii fuiids. Tlie Developinejit Offiee liave taken on board all events and fiindi'aising Activities that used to the riin by the Goi'don, SLhool Paients, Association froiii this yeai.. Pai'eiils cali now join tlie Paient Foruin lo meet with tl)e leadei'ship tern) to l)ear updates, sl)are ideas and help shape tlie parent voice al Goi'don's. Paieiits arc also eiicoiii*ged to volunteer at events llicluditig the scliool fair, suppoi'ling at conceit5 or leiidiiig fi haiid at one oFtl)e imany fundraisiiig eveiits. The Developinent teaii) encourage5 the School Charities Coniinittee with appropriate links and oi'gaiiisalioiial SLIPPOII. Make a diffti'ei)ce Day ui July saw 430 student volunteei'5 in tlie s¢liool voliinteEring foi. 1,61 I hoLII'5 in the Cominunity, fiDin oi'gaiiisiiig spoils evei)ts foi. local pi'iinaiy schools and activities in Gore hoines to littei'.pi¢kii)g and clearing gi'aveyai'ds.
TIIE GORDON FOIINDATION REPORT OF THE FOIINDATION TRIISTEES JNCLITDINC'I'HE STRATE4 GIC REPORT (tolI11UCdl A planning Londiiion for the Spons Hall 3G pilcli is coiiiniiiiiity use willi a Community Use A8reenierJL in pl1£ ce on 5lWtx)rting bL'al EnlsS-iuu. spoits Llubs. Other Coiiimerc191 activity includES Ilie SEKirls Hub Café, pdil ofilie Swi1S Hall building available foi. Lise iii coiijunclioii willi sports liire lls ivcll as Gurdun's Sixlli ful)11 8liideiils duriii8 Ilie scli(M)I day. 'l-he iiioiilhly Networkiii8 Breakfasts L7)ntinue with a iiiiiiibei. of iiseful li1th5 b¢ing follomrd lip, Re5identi41 lettiiigs h&v¥ slu)wn the Ig¢s1 area of groivili willi holidays along with a Residcntial letting ovei tiie summei. holidays wilh Emerald Ctslturzl Ilisiitute aiid bTxGen Footi11 Mwugeiiieiil. The partiiei'sliip l&unched with Aldershol Town Foolball Clkib in July 2021 wh¢r¢by tli¢ir I, teaThi is bed Irdiiis at hirt ¢hwEe8 School football iemis ale pix)vided iyilli coacliing b), Ilie ATFC coa¢hiiig leaoi wid for fiEe hojiie nialLh ii¢k¢is tti'e available 10 Gordon's faiiiilies. Oilier £lH)ilin8 1)Drfnerships conlinue, wilh H'l¢quiS Iliigby football Club wliich proi'idu a pgtliway for promising rLl8by plaJrei% iiito prolessioiial rugby. Gordoii's is proiid to help reduc¢ global edii¢olioD91 ty)verty dirougji a ivorkfftg parlttei'ship will) the Conjmonwealth Ihat chhnipions Cdiicalion ociD5S the Conirnonwealili. Theii- digiial pl£ifoi)118 reach leAchers iii iiiide15eiv¢d. ofien ¥iiial L'uniiiiunilies Ulld Ilie woi'ld> providing Iliciii wil11 miicli need¢<l biie-si£e pro1¢5siollal develoi)menl coiiises. CJoidDIi's teachers work i%'itli CET lo ¢stablish coui's¢s to help impi'ov¢ PEdagogy and ¢18ssroon] m)@#en1eJlt, latei. exteJJditJg 10 Due lo Ili¢ fuiidiaisiiig efforls by Gordon's Sludents, led by Cliai'ity Pref¢Lis. Gordoii Flouse, a girl's boarding liouse at the NE710s¢hO01 in Zitsibabu'e isnowupandi'uiining. Tlielhi'¢¢-year initiative to raise£15,oOOiS ltsunclied ai Gordon's in Jlua$'Y 2022, linkiiig Gui'dun's to ilie C£1111rn Fouiidation, a UK kncd Charity siippoiting global aiid coliiiiiunity priFjects. AppliL4tivns lu Ii'usts and toundalion8 coiilinue for billsary fundiiig ag well lls specifi¢ projccls. Tli¢ siiN)orl lor Goi'doii's students froni a range of eductttioiilll irusls is valued. iii ptIcular Uic continued geiierosity of th¢ Oirdlers, Liv¢ry Coinpany. Suppoi'l loi. Gordoii's siudeiiis by Tlie Seb FouiidalioEI, Girdlers, Heiglils Educalioii, Buiile UK, Lloyd Fouiidalion. Eiiiiiiott F'oiiiidalioii. The Royal Spi'in8lMiard Cliildren'.$ Foundaiton &)d Tak Turioi) Trust coiitiiiucs ro k M'clcoiiied by studeiit f&iJilies Ènd the Scljool. In 2021, livo sibinifiegiil new eoiiipeiiliotis wei'e lauliLld. Ilie Wyiilei. Be¢ Global Cilizeii Prize aiid Ilie Headmaster'5 Global Cilizen Prize, for ivhidi stiideiils were asked to eiigage with one of the IINI 17 Sbslaiiiible Developinciil Goals. We w'e iiiiiiiei)sely gi'aleful lo Peler Wyiiler Bee, foilliei. Iiusiee aiid Jiow Goi'doti's All)baader, for eii¢ouragiiig llie Oordon'% 1.8 1)roud 10 have sigiitd up lo Ili¢ Foi'ccs Coveiiaiil and lo display Ilie Bro117E Award of the Eiiiployers, Field Days Org119td al Gibr1 Bairaeks. Ii'aiiiiiig 51atY froiii Pirbri8hi CliP assisi willi cereTlle111al drill. Mejiiki's or the Pipes glid T)Ivins pl iegularly for Ilic Last l)081 Associalioii ai Brookwood Ccm¢leries, also for Surr¢y Police Pa Out padeS ]d willi Sui'i'ty Police Baiid iii a Fe51ival ReIiiellibr7ce Parade.
TIIE GORI)C)N fi()IINI)A'I'ION Rfi,VORT 01, I'HL I,'OIINI)A'I'ION TRII8TI.:r.4 INI.'LIIDINC.'I'HL,S'I'RA'I'f,GIC Rf4 IIORT Iconlinu¢dl Fulldi?rsing The Ii'uslees I'c¢o8nisc the iiiiporlance ot'nieeting Ilie lii811£.£l £landard£ of'piiclice aiid cllre in Itlttlinn 10 fundraising activity is cariied oul by 5chuul yla(I', wlio have received traiiiiiig oli tLiiidrai%iiig.%lNiidai'ds. No conii)luinls have been IEccivcd. Thc Foiindatioii oiily raises fund5 froiii Iliose individiials widurgwiisulioiis kiio%vJJ 10 li )d Ilie Foundalioi) doES not wideilake fLd[lsU78 Caiii1BnS lo mcnibers el'lk publio PalYoDage The School wa$ deliEhled that His Majesty King Charles acL%Pted the Palroiia8e of Goriknn's eollilIUth12 Ilie Iradiiioji of FIIYANCL4L RtVlF,111 AND RE%IIL'J'S liOR'I'klE IIEAR The niaiii sources ol fiindtiig lor tlie Fouiidalion are Ihrougli boarding cliar8es aiid iiiveslnieii15. Gordon's conlinLies lo be an ovci'&ibsci'iiEd school opeiBting 10 maxinium capacity wjili a wailing Iisi. Tlie fee inconle received by tlie Foulldaifft vlls £12,973,77112024.. £11.935.1201 Invesliiients perfoinied as well as wuld be eX¢1¢d duriii8 a year of coii1iiid uplieavRI. The inveslnient portfolio 11&8 iiicitased by £123.419 10 £3,620,50012024.. £3,497,IJ811. On l January 2013, Gordon's School coiiverled to AGad¢iiiyTru5151Alus uiidertiieAeademiesAct2010 willi all OlatIO11s, a55els liabililies Iransfei'ied ovei- lo Ilic Gvi'don'5 Schutsl Acadeniy Triisl. m)is Iransfei. Ivgs accouiiled toi. using the &cqiii%itiaii Incihod Tcsulliilg in a £389,000 delicii oli tlie Local Gov¢i'iim¢nt Pe115ion Sdieiiie translei'i'jiiE into Ihe Tiusi. Mosl yeais siiice tlieir lias beeii w) addilional delicil ort Ilie sclieme. In Ili¢ ycar ciided 31 Aiigusl 2025, tliere w& an Se1 suipli of £795,000. 'fhis asset siiiplus lias becj) climinalcd AS licre i8 insufficient evid¢nte to C4)rteluik iiiat Ihe 'se1, iiiay be avatlable to iEdu¢¢ futiii'e payrneiils. ussel sliould trnly be i-ecogniycd lo tlie cxleiil Ilial there is a ability for tlie etnployei. lo recovei. dic %w-pliis either Ilirough rediiecd conli'ibution in Ilie futuir or r¢hinds fiDni the plan. FLi¥llier inforniaiion on the p)Sion sclieDies 15 giveii in iiole 21. RFSLRVE.S Coiisolidaled fiinds compri5¢ uni'esh'icled funds of £14.470,805 (2024.. £13,602.69418nd r¢sts'i¢led runts of £1,433,282 {20241.. £1,622,177). Tlie iestricied as sel out in nol¢ 20 w'e nel of the peiisiuii deficil lerve of £nil (2024.. £iiill and all oiher tunds doiioi'.iniwscd restriction& ljiircsiricled lunds are repYcsei)led by the Fouiidalioii'% pinrty and atlier I]gIble fixed assel8, IllVCSllllCllts aiid nel working capitsl, Free reserves, defit)ed Ès ioial u1¢11.1¢1Cd fui)ds haviiigeliiiiiiiakd Ili¢ 112iLN)okv3lueofuiireslricled lixed scl%, arc ncgalive and Iht fouiidatioii Comiiiittee have set a policy lo Te.toTe Rnd build fTee regerves iji ordcr 10 Inaiiit8i1) Ilic siie ld fLuid die niodeiiiisatioii future developiiieiit of Goidoii'y SLliool
THE GORDON FOIIYDATION REPORT OF4 THE FOIINDATION TRIISTEES INCLIIDING THE STRA TEGIC REPORT l£i)ntiTruedl The Ii'usiees have gessed the niajor risks (o ivhieli The Gordoii Foundaiion is exJx>ged and have 18ken steps te reduce and d Risk Coiiimiiiee at led51 thuiually. llie tiiusl siLTiiifiuarti reidllied risks identified are noied below iogetliei. with Ilie nica[ by whicl) lo i117age Ilie i'isk.. RSsk A Yea RÈsk Factoi. Eiyisling control pvoctdui'fs Advcrse iiiipacl on school Jhodel Bnsur¢ frcqiienl rewrting nf student roll and finonces. Ilold liack on plans, IEduce cJ815 ¥vheie ptsssible. Malliiaill a scliediilt of pre- 88re¢d cliaiiBes iii the cvenl ofsigiiiticanlly rediiced incoiiie. Focu% on developiiig aliei'iwtive incoine s[reIl5. Meihbergliip uf ro )I'iate iKJdies far advic¢ and foiru%l%. Take appropriaie pi'ofessionlll adviee. reflect lli biidgeisj plailliing & rinaRcilll Adverse financial effect sucli ta.Y oil piolits, Ios5 Taxation VAT oil boardiiig Lhargcs.. iiicreased boardi1i8 ¢harge5 Inadc Ul)dffordabl¢ foi. m1Y pairnis and changes choul iofile Adverse fiDanci81 effe intludini Softivai'e I h8JQ)vAI't Loss of ciitt'iculiiin oi. Eng8geiiJellt of exieiiial IT Servic¢s with exie11d Irsources and exiiei'ieiice. Cloud sloi'age in iL£e. Data l)ack up I'e8kilaily lested for ability 10 resioiE file. Daily back-ups. IT a pwi of disas*r ie¢ov¢ry plan. Files restore been le51ed biil needs lest applic&tioii re8ularly. m4ioI' systems applicaiions INVES'I-MENT I)OLICY Tlie Lh,ItY alliis lu iiianage Ilie invesiineni porifolio sudi Iljai invesiiiieiji iIicoii)e is maii)iained. and capiial growth is achiewed, iii real ienns. Tlie p¢rf(Jriiian¢e of invtslnicnls 8nd Ilie iiivcsimcnl poli¢y is I'cvieivcd iiwilarly by di¢ Investinent Panel. The Iiiveslmenl Panel doeb nul inipuse cun51rlI1¢S Iljal mi¥lil liiiiil seleclioiTrof iiidividiial investhienis farsocial, cuvirarnncni&l or ethical itxsons. PI,ANS lioii riii'iiiic YLAiiS Develop a ivorking aiid Itng eiivllDmTri¢nt foi. Gor(kJn's 8cliool tlial moves iKyond oiitstanding Develup Ilie School's DiEithI Siraiegy across bolll leornitig and sdniiiiisiraiive processes Pi-ogress Ilie EgileS Mgsler Plan Desigii and iinplenient our eiiiriiy)t]melll policy Pui'sue Ilie opporluiiity lo deY¢lop the Goixloii's braiid at hoine wid over5e8s, providiiig ful$ for bursaries for J)ccessitous children wid the turlher develop the &8tare
THE. CORDON FOUNDATION REI PORT or THE FOUNDATION TRUSIEES INCLUDINC THE STRATECIC REPORT leojjllllutd) DlSCtK)SVRE OF INFORMATION TO THE AUDITOR ) die case of ca¢lJ pErsoii wljo w85 a ¢lir¢clor 81 Ilie liJn¢ tl)IS I¢POLt was approv¢d: So ftr os directoi. Ivas aiv8re (Iiere relev8nt AvAil&bl¢ infonnation of wiiicli Ilie Gyoup's auditor wa8 Liiiawarc ai Thllt direoi liad tsken all Ilie slep$ Ilial director ougjit to Iillve tsken is a dire¢loi' 10 make hiniself oy li¢i's¢lf Tljas ctrnfiriiiaiion is given and slioiild be inlerpreled in aecordfitsce willi Ilie provision of s418 of tlie Coiiipatties Act 2006. STATEI MENT or TRUSTCI RESPONSIBILITICI S The Ii'ustees (Ivlio ait filso Ilie diitclors of Ilie ch&riiable coiiii)aiiy) responsible for prepaiyNg Ilie Rcporl of tl)c Ftsundation tSlee8, incorpolting Ibe Sirllte8ic Report, And Ibe fthao¢iBI slllteIbertts in sc£oi'dance iviili Hpplicabk law reBlllH(IOJIS. elected to preyai? Uie financial slalenJell18 in 4ccordallce witli United knn8doni Generlly Ac¢¢pt¢d A¢counlinE Pr&clice (United IClnEdoiii Ateounlijig Siandai'ds tsnd applicable lawl. Uiidttr coiiipany lai¥ Ilie Irllslees LMii$I nol Appi'ove the fmanciil SLaiemett18 unless Uiey are 8alisfi¢d tljal Iliey give a true aiid fair vieiv of the slgts of aff&ir5 of the chxiiisble COIIIPHIJY alld the gmup and of Ilie lllcojiiin8resoui.ces Bnd applicalioii ofiesouites, iiicludiJhB Ilie ijicoiiie and exp¢ndilLIIY, of Uie ¢hftiit8ble coij4)any ottd group for Ilial year. In yreparing Iliese finaiicial Statllen. Ilie Ituslecs aL¢ required lo.. 5¢1cct suilDble wourtling policies Ilieii apply thcin consistettily., observe Ilie Trietliods and pi'inciples in Ilie Cli81'ilies SORP,. m&k¢ judgii)¢nls and llCCOUnling c51iiitstes Ilial ale re&sonable and ptlldcnl: state whethei. tspplieable UK AccoLlllllrtB Slandards113ve beell followed, siibjecl lo any niaierial depai'tur¢s discJos¢d and explain¢d 3n lh¢ financial 51at¢menl$' prepAie the flliaii¢ial SlAteiiienls oil Ilie 8OiII8 coneem basis uiiless il FS inappropriate lo p¥¢sumo Ilial ilie company will conlittue in biisin¢ss. Tlie Irustees ale responsible fr>r keeping adeqii8lc accountin8 records Ibal are suffJ¢ieiit to 51iow and explain Ihe ¢11gril8bl¢ eoiiipaiiy's iiaiisaciions ond dlsclose willi ie&son2ble accui'acy ai any time Ilie fiiiancigl position ofiiie cliaritable coiiipany gttd enible Ili¢tll lo ensure Iliat Ike fJnttrtci81 slalemertls tottiply wilh Comp81JLC8 Act 2006. Tlity are also iesponsibl$ foi'safeguai'diijg the assets ofilie¢haLitableeoiiipany andtliegroupalld h¢iico f. takliig reasoiiable $tepsfoi' Ilie prevention alld deteclioji of fraud Biid oilier iriegularilie5. AUDITOR Oui'4udiloT, Alliotts LLP, litss iiidi¢Èted ilieiy willingness to a)iilinue in offiee. The Tnist¢es' RepoiL incorpoi'a¢ing th¢ Stralegir Rcporl WAS 4ppiDved by the ttuslees of Tlie Gordoji FoiindtLlion on 17 Janualy 2Q26 and si8ned on its bebttlf by IAtulenAnt CtrteiY¢l Sli. Rleliai'd Crlpwell CB, CB
TIIE GOIIDON I,-nllYDATION INDE4 PENDLYT AUDII'I)R'S RFPOR-I. I'O Tiif. lLIMI1,:Rt 01.'"l-Hf. ('ORDON riolDATIoN, Opinion We liave aiidiled Ilie consolidated f]nonL11 slJleineiilsofTlie Gordoii FoiirtdAtion for Ilie yeareiided 31 Aiig11St 2025 wliieh Plow Siaieiiienl and notes lu the fInLia1 slalemellls, iiicludiiig a Suillry of 5igniticantaccountingpolicies. Tlie fintsiicifjl stand'd4 intliiding Fin]ela1 Repoi'luig Skind'd 102 Th8 FiJi(7Wi¢71 Repoi'iljig Siondujd ÉTpyIic¢Tble iry ibe UK niid Repiihlic ofliYloiidlUJiiitd Iciiigdoiii CJcncrDlly Accei)Icd Accoiiniiiig Prdclicel. In oiii'opiiiion, financial Slalemcni%'. give a truv and fair vieiv ofihe slate ofthe group's and of Ilie pEllI ch&rilobl¢ winpany's atTairs as at 31 AugLisI 2025 aiid of tlic grovp'% and pairiii cliarilable conipany'5 iiel nioirenJei)l in fiiiith, including the iiicuiiie wid expeiidiiure, f(>r Ihe yeai Ilien ended. hov¢ bccn properly pr¢prd iii accord&nce wilh lJnil¢d Kingdoni Generally ALcepted Accoiililil Practice: and have been pirpared in a¢eoi'dance with ilie re4uir¢meiils of Ihc Conipanies Aci 2006. By5i5 foj. opinio Wc coiidiicled oui. ftudil iii accordwice willi Intern&iional Stld41'd¥ oli Audilli IUKI IISAS IUKII appliL'able law. Our Kswnsibilities underdiose SEAnd.dS ar¢ tiiith¢rdes¢ribcd in theAudiloi's re5pon5ibilitic% fortheaudil of Ilie linaiicial 51alcnients seclion ot oui. repoi'l. W¢ iiidependetit uf die giDup iii aci0rdt¢e i¥iilJ tlie ediical requiieinenls thal art rele1,lL lo oui. audii ofihe lin7claI 51at¢iiieiits iii tlic UK, iiicluding Ilie bR("5 1".tliical Slaiidard. aiid ive hav¢ fulfilled our is sutricieiit atjd appiYTrpi'i8te lo provid¢ a basis foi'our opiiiioh. Concluslons i'tl#ting to gning eon¢¢i'n In 3udiliiig Ilie till1¢la1 sldlcniciils, we li&ve coiicluded Iliai Ilie Irusltes, use ofdie uaing concerii basis of accouiiting the prep10n of the finan¢ial 81ateinenls is appropTiaie. B&sed oil the work have pei'formcd, we liave not identified wiy iiialerial wicerlainiics irlaliiig to eveiits or coiidititjiis Ihal, iiidividually oi. collcclively> iiiay cysl si8tiilicwit doubt oil Uie ElOUP'S aiid parenl colmplY's ability 10 conliiiue 8s a goiii£ tontern tor a pKI'iod of at Icast twelve moiith& fi'om le1Th tlie finaiicial staleniciiis autliorised for iss1. OUT re8poiisibililics &id tlie Yeswnsil)ilities af the Inislecs ivilli respect lo going Colrn are described 1¢] Ilie lelevlI Tlie 11'uslc£s aiy responsible f(N' Ilie other iiifoixiatioii. o111 information coiiipri5e% Ilic iiiloimialioii iiicludcd iii th2 Trustee5' Keporl. Our opiiiioii oil 11)e flliaii¢ial Svdieiiieiity. does iiol cover Ilie other inforniatioii ld, except lo the extuit olh¢ri¥igcexpliciily iaied in Qui. I'epoi'l, we do t)ot cxpress &iy ftsrm of assuiaiice coiiclusioii Iliei'eoi). In cornieciion with our audit of the fill7¢1a1 statemeiit8. oul. rcsi)on5ibility is lo l'ead Iheollici. iiiforiiialioii an(L in (k)ing so, ilia1.1al 1nisslaieiiieiitoftliS oilier llifoinialioii. Ive are I'tquired itsrepurl ikni fact, We hasre iioihing io rcrK)ri iii Ihis ieEard. OpiJiS011$ oth utliej. iJJAtttrs i)re5eribed by ilie Coitpiilts Act 2006 Iii our opijiioii, bastd oil thc work uiidcitDken iii Ili¢ couise ol'lht audit.. the information giveii in Ihe Foundation Tru*ee5' R¢poit Iwhich Ir[otCS Ihe sli'alegic rqx>rl aiid Il d¢i'eelors' I'cpoi'll for Ilie fiiwicial year for wliicli the finaiicial sizieinenls are prepaiEd is consislenl iYii11 the r&iillncial slalenient5' and Ilie Foiiiidaiion Trusi¥es' Reporl has been prepEd iii 2ccordthiee widi applicable legal rwuiremenis.
'I'TrIL C.'ORI)ON I,'OIINI)A'I'ION INiif4 Pl,:Nl)r.N'f AIIDI'iOiI'S Rr.i'ORT'I'O-J'IIL ILMIlLI1% C)i.'-J'Jir GC)IIDUN J-,()IINDA'I-l1) leoNtii)uedl Matt¢t5 on Ivliiclj Ivt Wrt Jyquivcd to rcpoi't by eiccption Iii Ilic l&glil ol. Iht kiiuwlLdge and iind¢r&landiiig of Ilie groiip and the parenl cliai'ilable coiiipany aiid its eiiviiontnenl We have notliing lo repoit in IEspecl of Ilie following mtter5 in iElstion io wliich Ihe Coniponies Act 2006 requires us 10 adequate ntcounting recnrd% have nat been kepl hy the groui) parenl cliarilable ComPy or rctui'iis adeqiial¢ lor oiir aildil hav¢ iiol keli ieceiv¢d frvni br1¢5 Jiol Yisilcd by Js. o¥ tlie 8ioup lid par¢nl cliarilable conipaiiy ffi1iancih siaiements are not iii figreeiiieni witli ilie accouiiiing iecerds cl iyli1ii', ui eertoiii di$clo%iirc% af triisictss, Irtnuncralion %i)ccified by law Iiat niade. or ive liave nol received all Ilie iiifoymalioii )d explaiiatioiig wt requts'e foi, our &udil. Responsibilities of truste (or rlit financial 8titcnienls of Ilie e11.11ab1e ¢oJiipdLy for Uie purposes of e01iiiY Idwl are responsible for the piepar8lioii of Ilie fine19 statements lo eijable Ihe piep3ralioJi o( fil11claI slalenieiits tlial aTe flee fiY)iii Inaierial Inisstateiiienl, wh¢lhei' due to fraud or eii1)I'. Iii prepaTiiig Ilie financial slaleineiils, the tru51ees are I'esponsible for assessiiig the group's aiid the parent cliariiable COliipa11y's ability lo coiiiiiiuc L% a goiiig conc¢rii, di.s¢10sing, ai)plicablc, iiiattcrs Itlalcd to goiiig coiicerii and u.%ing the going coiicerii basi5 of accouiitinE unless the Iruslees eiilier inleiid lo liquidate Ilie gip oi. the pwriil ehilable colnplY or lo cease oper&liotss, or liave iEalislic alteriiBlive biil lo do so. Ourobjectives .¢ to obiaiii irasonable assul'aiice about wlieilier tlit faliCial slaiejiieiits as a wliole zre fyee froit) iiiaierial is & higli level ot assuraiice, bui is iiot a gUar1[ee I119t an audii cotiducied in aLcoi'danee iviih ISAS (ifKI will alivays deietl iiidividually or iij Ihe aggreEe, Ily eould regsonably be &%Ecied to iiiflueiice the etonotnic dec$101 of users takeii oli the basis (>f Iliue fill7claI 8talein¢tits. Iviih OUT vespoiisibilities, outliiied obove, to detect iiialeTial mis$1oiemeii15 in respect of iiregularities. iii¢ludiiig fraud. llie Cxlcni kn Ivhi¢l? our procedurcs arc capable of(kicciing incgulariiie& including fraud, is detailed below. ad iion-complianc¢ iviili laws ld regulation& was as follows.. the erjgagenient PW1nti' cnsiiird thai Ihc cngagctnent team collcclively lilld tlic appiopi'iale coini)eleiice, caFobililies and skills to id¢nlify or I'ccognise noii-compliance with applicable laws aiid ¥cguloiioiis', we idenlifi¢d Ilie laws and I'eEulalioits applicable lo the gi'oup and par¢i)t ohwilabl¢ company througli discu101 with Irllslees attd olhci. Managenieiii. aiid fioni our kniowlcdge and cxpci'ieiiet of IliE sector; we focLisedun specilic lawsaiid re11]it1101is wliiilj w¢Loii&i<kred iiiay II#v¢ d direLI iijaierialefTeLioti Ilie fin1¢11( I talenieiils nr the npcrutiaiis at the groui) aiid i)1 charitable COlllPWlytr iiieludiiig the Coiiipanies Act 2006, Ilic ClJarilies Ait 2011. th# AL¥(kiiiy Trust Haiidbook 2024, ItL%alioii, eniployiiieni, ertvironnienial cind heolili wid safety legislation. we assessed thc cxlenl of compliance willi tht laws &nd rcgulalioiis idcnlifjcd abovc through in&king cllquiries of lilanaglIent 1 inspecting lega] corr¢spondence: glld i(kiititicd laws and rcgiilaiions wete c0mnjuiiicIed within Ilie audit iesm iEgularly ld t1 te8ni reinained aleil
THE GORDON POUNDATJON INDEIPEI NDENT AUDITOR'8 REPORT TO THC MIMBCIRS ofi THE GORDON FOUNDATION {contitJued) We assesscd the susceptibility of Ihc gi'oup and i)arent cliaritable Conipany's finaiicial stateinei)ts to Inalerial niisstaleineiit, including obtaining èn understanding of how fraud Inight occui., by.. Inaking eiiquii'ieq of Inaiiageinent as to wliert tl)ey considered tlieiE was Sllsceplibility to fraud, thell. knowledge of actual, svspected and dll¢ged fraud., considering the intei'nal contix)ls in place to Iiiitigate i'isks of fraud aiid iion-¢oinpliai)ce with Idws aiid regulations. To addiess the risk of fvaiid thi'ough manageinent bias and overi'ide of ¢ontrols, we.. peifoTIMed analytical procedujrs to identify any unusual or unexpected relaiionsliips. tested journal ents'ies to identify unusual ti?nsactions', assessed whetliei. judgements aiid assuinptions Inade in detth'jnining the accouDting e5tiniates weir indicative of potential bias. and invesligaled the ratioiiale behind significant oi. unusual transaclioi)5. lii IEsponse to the I'isk of ii'i'eg(Ilarities and non-compliance with laws and regulations, we designed procediires which incliided, but wei'e not lllnited to,. agreeing ftnatscial statejnent disclosui'es to ui)dei'lying suppoiling dociimenlation; l'eading ilie illinutes of Ineetu]gs of the Fouiidation Cuiiiinittee., enquiring of manageinent as to actual and potential litigation and claims. and ieviewing correspondence with FtMRC. There air inherent liinitations in our audit pi'ocedures described above. The more removed that laws and regulations air frojn f]])ancial traiisactions, the less likely it is that we would becoine awai'e of non-LoJnplian¢e. Auditi]ig siandards also liniit the audit pi'ocedures I'equired to idenlify non-coinpliance with laws and regiilalions to enquiry of the ti'ustees and other 11)anageinent and the inspection of I'egulatory and lesyal correspondence, if any. Material Inisstateinenls that arise due to fraud can be hardei. to detect than those thal arise from error as they Inay involve delibei'ate concealjnenl or collusion. A fujther desci'iption of Olir i'esponsibilitle5 for thE audit of the financial stateineiits is located on the Fijiancial Reporting Couii¢il's website at.. www.lii.or 7 uklauditotsies nsibililies. Tliis desci'iption fol5 part of our auditoi's report Use of Ihls report This I'epoi't is Inade 501ely to the Lh<irilable coinpai)y'5 ineiiibei's, as a body, jll accordaiice wilh Chapter 3 of Pai'l 16 01. Ihe Companies A¢t 2006. Our audit woi'k lias been undei'lakeii so that we miglit slate to ilie charitable coinpany's meii)bers tl)ose Inattei's we are i'eqiii]ed to State lo tliein iii ali Auditoi s i'epoi'l alid foi. no oihei. purpose. To the lullesl extei)I perinititd by lltw, we do not accept oi. a55111ne re5poI)sibElity to aiiyone othei. Iliaii the charitable Loinpany and the chai'slable Loinpaiiy's m¢inbers (IS (t body, for oiir aiidit woi'lc, foi. tl)is report, oi. foi. the opiiiions we have forined. Stephen Meredith BA FCA DChA (Senioi. Statutoi'y Auditor) rioi. and on behalf of Alliott5 LLP Senioi. Stattitoiy Auditoi. Alliotts l.l.P J I,ondon Squaie Guildfoi'd, GU I I UJ 22 May 2026 14
THE GORDON fouNDATION CONSOLIDklTED STATE4 hlENT OF FINANCIAL AC.VI.rI[I IINCI.IIDING LON%()LIDA'rtI) INLOMr. ANII EII'I,-NDI'I'IIRL AC'.C'OIIN'I) FOR THE YEAR IINDEbD 31 &KUGIIST 202S Fund5 TolAI 2025 2024 Not< Dttnalinn$ and14)Clrs GIAnts 602,143 21,042 30,406 31.377 ChAI'ilable Actiyity.. 12,839,613 12,973,771 6.659.114 educational oper81iolls 618,779 618,779 IOQ.054 8.830 108,884 lo8.] 14,993,970 6,833,479 19 J19,910 Ypeiidlture Dii.. CbRI'i18ble aitivlty: Statl'cosls Ediiraliollal w515 Wrifafc cu515 Pie1111ses costs Supportcosts .740.1)39 4.971603 491141 12,100,053 464.652 2,674,178 2,553.247 I,2,027 2,667,203 1,gW,541 656,6g7 2,667203 1,613,578 713,037 514.825 Finaii(ecosts InvosliiKiil nlIng¢¢nI 233,277 20 233,277 1.448 242.490 1,428 Ti'adingcosts 356.546 356,546 204,426 Totil cxpe711 14,555,213 6,694034 21349247 19?42,958 OperAtliig Inionitllttptttditut'tl 438.757 139,444 57fj,202 108J65 9,649 346,351 Ntl incon1< 547,122 149,094 696,216 423,J03 A¢rial 110sge5vgai115 011 defined nEfi1 pciisioii sch¢1 21 117.CrfNJI 206.Th)0 Ti'aiisfers behve<ii fuiids 320.989 1320,9891 1188,8951 679,216 629,JD3 liuThd bRIAces brought (oriY8Yd Al I 16, 13,602.694 .622.177 15.224,871 14,595.568 FyTrd balHnres CHVJ4ed fnriY#rJ 41 JI Ay¥u$l 16, 2125 14,47I0fj5 1.433,282 159D4,087 15221,871 All ot Ilit charii*blc gioiip's aclivili¢s trc ttsnliiiuing. All r¢cogiii5¢d Bains aiid lo¢5 ar¢ iiiclud¢d iii Ilie Siaiemeni ofFinaiicil Activities. Thc acconi1]YINg nalcs faiiii PEVI ol'ilicst IinanciDI 51aleiiienls. Delails of coiiiparalive ligvi'e5 by ti)iid are disclosed in iiole 23.
TTr1 GORDON 17OUNDATION Reglslciid CoiDpArty No,. 00027272 GROUP BALANCE SHEI ET AS AT31 AUGUST202S 2025 2024 Notes rtXED ASSETS Tangible InveslmetLts 21,757,881 3,620,500 21.597,756 3.497,081 9,10 25 J78,381 25.094,837 CURRENT ASSETS Debiors Casli al bank And in liand 12 961,468 62,998 826,669 87,739 1,024.466 914,408 CREDITORS.. Amouiits fLlling due wiiliiii one year 13 14,281,142) (4.234.376) NCIT CURRYNT LIABILITIES 13,256,676) {3,319,9681 TOTAL ASSETS LESS CURRENT LIABILITIES 22,121,705 21.774,869 CREDITORS,, Athounts falling due aller rnoie Ilian one yeai. 14 16,217.618) {6,549,9981 NDIT A&8rfs Bf4f4ORE PENSION LIABILITY 15,904,087 15,224,871 PENSION SCHEME LIABILITY 21 NET AssErs 15,904,087 15,224,87J FUNDS UniESliacled fljrtds Resli'icled- Specific Funds R¢sli'irted. Pension Reserve 16 17 17 14,470,805 ,433,282 13,601,694 1,622,177 15,9D4,087 A&224,871 Tlie fiiiattclil st8tenienis weie fippived and &uihori5ed foi. Isstte by the Board on 17 January 2026 and w¢1¢ 5iglled below on ils bebalf by.. Lleuleii&nt G¢nei& Slr Rlehai'd Ci'lpiyell CB, CB ClirLli'inThn Mi. M Birrhes Ti'easuj'e Tlie 2¢cornpaiiyinB iioles fomi parl of Ilie8e fJnonci81 atoteitteiils. 16
THC GORDON VOUNDATJON Iloglsttyed Coiiipriihy No.. 00027272 CHARITY BALANCE SHIIET AS AT 31 AUGUST 202S 2025 2024 Notes FIXED ASSETS TDngiblc Invtslii)enls Investment iii subsidiary company 21.613,038 3,620,500 21,408,359 3.497,081 25,233,540 24.905,442 CURREI NT ASSETS D¢btor5 C8$h al baith find in hHlld 12 654,797 53,092 675,918 80,277 707,889 756,195 CREDITORS.. AmourtiÈ falling due wiiliin one ye&i J3 14,OS3,37I1 13,968,n4) NET CURRKh'T LIABILITIES 13 J45,4821 13,212529) TOTAL ASSII'S LCSS CURRENT LIABILITIES 21.888,058 21,692,913 CREDITORS.. Amounts falling due Aftei. moit Ilittn one y¢ai' 14 16,186,667) 16.506,6671 NET ASSETS 15.701.391 15.J86,246 UNDS Uiiresli'icted fund% R¢sii'ieied ftinds 19 20 14,456,871 1,244,520 14,092,935 1,093 J I I 15,701,391 15,186.246 ie cli#illable ¢omyany lias token exemption from pie8enlirtR the cliw'ity Statemeni of fJnAncial acliviiies uiider scolion 408 of Ilie Coimpathies Act 2006. Tlie net iiicoiiie of tl eliai'ilable compftiiy foi. Ilic yeftr wa5 £515,145 (2024.. net incoine £628,311). The finoncial sl4iettws were 9pproved slld autl)orised for issuc by the Boaiyl on 17 Jonualy 2020 Èrtd were 5L8ned beIV oli ils behalf by.. Lltuttnlttt GeiLergl Str RltliAI'd Ci'lpsvill CD. CBJ£ Mv M BL'ne$ Tve$sui'¢i' The uccoinpanying notes foini part of the financial sl&lenieIs.
THE GORDON, fouYDATION CONSOLIDATED STATEMENT ofi CASH fLOIVS roR THE YEAR ENDED JI AUCUST2025 2025 2024 40t¢ NEI taAli illflow fioni op¢i'gting llctivitics 914.344 759.082 108,884 31,377 1875,8411 20,098 1334,3031 328,899 108.061 30,46() 1672,8531 CgpI131 8Tlts fiDin T)FEIESFA Puruliast tsf lixcd asgcL8 Disposal of fjxcd &%s¢l Purtliase ofiiiveginieiiis 1149,4841 45,445 Ntt oasli outfloiv fi'om investing activitie.s 1720,8861 1638J651 CAsh floiy (i'ozh finalleig #ttivitit5 LoFJi repayiiieii Nciv Inll fiiiance Inl¢iesl paid {132,3801 {332,380) 1233,2771 1242,4901 Ntt e%811 infloiv (rom fin#ncln% Aetivilies 1505,6571 1574.8701 ClJgNg¢ in cash and tash tquivaltnt8 111 tlit year 1372,1991 1454,1531 Casli ld cssli equivaleiits at the begiiiiiiDg of the year 87,739 541,892 Casl) ld cash equ1valeii. theeiid of the year 1284,4601 87,739 RF,CONCILIA'fioN or Nf.T Movf4 NIF.m' XN fiUNDS TO NET CASH INFLOIV FROM OPEILITING ACTIITITtE4S 2025 2024 Nel ijiovemeiit iji fujids for Ilie ye8r DepiEcialio ESFA capiial grants 679,216 695.618 (31,377) 629,303 632,431 130,4661 1346,3511 434.790 1493,0541 DeciEasel{iiicreasel iii debio¥s {t)eei'eaqelliiici'¢a5e iii ciedilor.% IDeeiEaselliii¢iease iii deferred tsitoibe 1316,6401 1144,3471 25,495 1108,s841 233,277 1108,0611 242.490 1202.0001 Fiiiance Costs Net ¢a8h inflow Iroiii opcratin8 activities 914,344 7.$9,082 ANALYSIS OF CASH AND CASH EQUIVALENTS 202S 2024 Ca¥h al bank Overdraft (1¢Esented undei. crediiors) 62.999 1347,4591 87,739 1284,4601 87,739
THE GORDO FOUNDATIO 51'A-rE.15,-N'r ()[ ACCOIINT'ING I>OI.ICII,-S roR THL yR ENDED 31 AIIGIIST2O25 Tlie Goi'don Fouiidalion is acharitsble eoinp&)y liittiied by guara])tee, ti)COTporai¢d in Engl&id ld Waltslconipany iiuiiil)er'. 02?272) wid a cliw'iry I'egislered iii Eiiglaiid wid Wgle.£ Icliarily iiuliilj': 3120921. -11ie Cliarity's reEisieTed ol¢l &ddiE%% Is..'fhe Goi-doii Foui)daiion, Goi'doii's Stliool. West Eiid, Wokiiig, Surrey, GU24 9PT. Bx5is of Ateourttiii Tlie financial 51alenieiil8 hav¢ beeii prepved in aCCordl¢e Ivill) tli¢ Fil1Cial R¢wiling Siandaid 8pplic&ble in Uie UK aiid Rcijuljlic of Irclaiid (FR8 1021. Tlic CUMplY 1$ a i)ublic LKiiclil ciility froi. Ilic purtx)scs ol. FRS 102 211d a register¢d oliarity esiablislied as a coiiipaiiy limited by giwanlee and Ilierefore lias also p]Epra ilg finaiicial FIIS 502 Clyarilies %ORPI (effective froni l jlU81'Y 20191 ]d the ColliplIeS Act 2006. Moiiciary aniounls iii these fillla1 sthienietiis e i'ouiided 10 Ihe iiearcsi pouiid. nie financi&l statenieiit8 are prepared undeT the liisioricgl cost coiivtlliion Bs modified 10 include Ilie rev21uaiioii of iiive8lnienl8.'fiie priiicipal accouiitiiig policies adopted sel out below. BoAI'(Ying Cliai'ge Debtok. Policy Bnaiding C.liargEs debis, Iii debiois, refl¢ct out51aiiding debis for the boarding charg¢5 to 31 August 2025, whi15t Bualli1g Clia¥gcs iii adv¢¢, iii ¢rtdilors, rcfltLI Lasli irceiv¢d piioi. 10 31 Au¥usi 2025 for I1 aulurtjti Ici'iii 2025 ardiiig Chg¢s. Basis of Coi)801idatio Tlie coiisolidaled fiiiaiicial slaleiheiits iIi¢orporAie those of llie Gordoii Fouiidaiioii Aiid tll ilg suLIdirIes. All riiiaii¢ial slalelliuits air iiiadc up lo 31 August 2025. All subsidiary undeiiakings liave been included M'illiiii tlie Tlie eiililies 31f Cotisolidated on a Ilie by liiie bBsis Èiid all inlra.giY)up Iriuis3cti011s ld balaiice5 bettyeeii 81uP colli11¢8 &¢ eliniiJiai4d on Co1)11d8tio1i. h) GoinE COllCtI' IL% li8hiliti& as Ihcy t&ll due fai. a tKrind of tst Icisl twelve montli% froni Iht date of al)plVal of the%t fiiiancial slaien)eiits. Tiie Iruslees liave revicived regularly revised budgets aijd casli flow forecdsts b8ed oil various sctnarios iiicluding the I'equii'eiiieiils ofilie bank loaii coveiiaiils alld are kccpiiig th¢ situatioii under coiistani review. llie¢tiiig Irgularly willi seiiioi. Inanageiiieni, rcliable cstiinalc asio the ultinial¢ fiiia11cial iiiipacl, liow¢vei' Ili¢y belicvelhe actions tak) liavc e11su1.ed Ilie Group's gbilily lo coiilinue lo 01)ei?le as a goin8 concern for a peiiud ufal lea51 12 munths f1 Ihe date of appruv31 of Iliese 19
THE GORDON foiiNDATION 8TATFflLI N'r or ACC.OiINI'JNG POI.IC.IF.S Iconlinutd) roR THE YEI AR CINDfD 31 AIIGUST 202 c%tllhalcs. It al80 I'¢quii'es niaiiDgeinenl to exerci8¢ judgnicnt in applyillg the Chwity's &ecoulliiiiE policies. The key judgeinenls Iliti liave ken applied by iiiana8eineiil I'elale lo.. Judgnient I the weseni value of the Local Governmeiit Pensioii SLlieiiie defjiied beiieftt assel or liabilily Fiii'tliermore a roll fniivard apPie[l which plJeCts I'csulls fi'om Ilie late51 full aL'Iu8rial valLJaiioii i)ei'foini¢d al 31 MarLlI 2022 lias been ed b>, Ilie gclunry iii valiiiiig Ilic nSiOnS liabtliry al 31 Aii81151 2025. Ally diffcr¢nccs bct14'¢en Ili¢ figures deiived frorti 11)e ioll for11ill approach gnd a full aeiLiarial valuaiioii would UIIPaLI on the eari'yllig dnioiinl ofii)e peii_41011 asset or liability. Judgtmtrtt 2- A bad debt provision against polenlial tiilure uttcolleclibk b0dillg cliai'ges. dl Income All iiicoiiie IJJ¢lud¢d iii th¢ Slaleineiit of biiiancial Aclivilics ISObAI M4i¢n the gyoup 15 legolly entitled lo ineome and Ihc 8niounl Can IK qiiantified with re&onable accuracy. and receipt is probable. Griyiiltrf8ceivoble Graiits intliided in Ili¢ Slalemcnl of Flnancial Aclivitle5 on a r¢ccivabk b1$. Thc balanc¢ ot incoime reccived for 8pecifJc pui'poses l)ul not ¢xpended dui'irtg Ihe year is slioivii in the relevanl fund Ilie brtlan¢t slieel. Where iiiwine is received iii advJnceofcnliilcii)cntol'rtceipl ils I'ecogiiilioii is deterrcd and included in cJrdiior% as detei'red incthme. Where cniilleiiient occurs befrore ineoiiie ieceived, Ilie incoiiie is accriied. Tlie Gener&1 Ali11 Gr1 is regnIsed in full iii tlieyedl. fui'wlii¥h it is receivable and aiiy unsFntwiioiiiit 15 rcllecitd 85 a l)alan¢c iii rhe resti'icled geneiil fund. Capiial grants 1.¢ iecogiii5ed wlrn ieceivable &nd are iiol defei'red ov¢i' the life of Ilie &set on ivhich iey Illr eXnded. Unspenl gniouii15 of capital granl air IE(lecled in Ilie balaiice in Ilic rcsLriclcd fixed &¢1 filj DortÉJilos Doiiatioiis Gnd all ()tlier ieceipts from fundraising irwrted Bross and are acc4)uled foi'oj) a r¢ceivgble bagis. Th reloied ftindraising cosls giE ieporled in co$is of iaisirtg fund8. Invc%liii¢nt income is 8croiinted for when rcceiv8bl¢ and include5 the Itlaied i&x recover&ble. Expcndittwe is accoiinled for on accruals bBsis. c$/. oj'i'oisinsfiiiids Cosis of raisillg (und5 comprise finte ¢llEt8 assoLiated with iiiteiEsl payableon the Group's tM)rrowings and cost% aS50cialed with lettings. Choi'iluble a¢iivilie$ Costs of cliw-1lbk &clivilies include gi'ants i)ayable and other eosis dirc¢ily ass0¢ialed iviili pi'oviding Ilie seivicBs id 5UPlX)I'l provided by tlie cli'1ty arhd an sppoi'iienincnt of ovei'lie9d. sui)pDrl and goveimancc c051s. Charitable activity costs repi'egeni costs dllrctly associated willi the pi'ttvisioii of educalion i¢led suppoit cosLs. Goii8JiiJncE cosls Governaiicc costs camprise the costs of rullniiig Ihc charity, including sirRl¢8i¢ plgnning far li future developmeni, s Il)L thsls ol. Board and Committee illeciings and of ijirw'ing si4tuloiy accounL8 llnd saiisfying publsc accountability. iydiiigaciliyliies Cosls ot'lradii18 aciivilics include costs dii'ectly associaltd ivith providinE Ihc scrviccs 1)Vided througli trading. Leased A55cIs Rertial cosis uiidei. opei'aling legses al'e cliarged lo Ili¢ slaleineiil of f1cl&l aciivilies in equdl aiiiouiils ovei. Ilie 20
I'HL C.OIII)ON fiOIINt)ATION STA TE1[1 NT or ACCOiINTING POLICIES Iconlinucdl FOR THE YL4R EliDED 31 AUGUST 2025 gl Taiigible IIixEd A55ets Depreciatioti is provided on all laiigibl¢ fi.Ked as5e15, oiher di7 freeliold land, oil the followiiig niellJ(¥Js at i?les 2 h. 4% pei. llinuni strgighi liiie 20Ye per alUn1 straiglit liiie Machineiy and equipment Motor vchiclcs pei. straiEht liiie Buildings circlcd brfoic thc year 2000 air dcprtcialed over 50 y¢w%, and n¢w¢r buildings over 25 Ye. Lislcd iiivcslinenls are staled al market Vali at the balanee sheei dllie. Realtsed and uiire&lised Bauisnosses on Stocks are.%t4ted at Ihe lower of cost iict re&lisablt vdue. Basic finaiicial iiistrun)ciiis traiisaciloi that result iii the recognitioii of financi8E asseis and liabilities like (rade aiid otlier accoujils. receivable ld payable &e aceouiited foi. oil Ilit followiiig basis.. Cubh ojid eqiiiiJol£Jil Ca%h and Cash equivalenis includes e4sli iii hand, deposits held at bank& other short.ieiiii highly liquid invest2nenl8 with origlligl iiialurilie& of IluEe Inoiiths or less ld b8nk ovci'drafts. Bank ovcilrails, wlien applicable, are £liaw DehioiA andcredFlors Debiois wid cj'ediloi's are iiie85ul.ed al tlie t1101) price less iy provisioii for iinpxii'iiienl. Any losses ar&siiig from iiiipairiiieiil are recogiiised BS exndItre. Baiik borJoivi17gs Liabiliiies for borrowiiigs i¥rliicli subjecl to a market rale of iiileresl are euld ai ihe valuc Df Ilie ainouiil 8dvaiic£d, Icss capital r¢payinents. kl Emploj'te Bcn¢fils Tlie co&is' ofsliort-iei'm eJ]Jployee beiiefits aye itLogtJis¢d a liabilily aiid snexpeiise. Tlieeostof lY unused holiday enlitlciiient is I'ccogiiised in the period iii whicli Ilic ciiiployce's seryic&s received. .1 CTmin&iioii benefiis ar¢ ieco¥iiscd iiiimcdiatcly as ali Ivhen the charity i$ deni01tr8bIY coinmirted 10 11 F4ndS Cy¢neial fund5 conipri5e Ilie accumulalcd surplu% or deficil froni Ihc Slalcnieiit of FinaDcsal A¢liviti¢s wliieh is not resti'icted iiordcsigiialed fuiid5, They are 8V2i12ble (uruseat Ilie dISc{loit0(1lI Trusiecs iii furllieraiiceoftli¢ geiiei'al ol?jectiv¢s of Ihe charity. Restricted funds are funds ivhicli sre to bc uscd in accoi'd2nee with sptcific irslriclions iniposed by donor15e¢ noies 17 201.
TFir. c.()Iit)ON I,"nllNDAI'JO STdll'ENIENTof ACCOI[TING POLICIES Icontinuedl I,'OR'I'HE YEAR C¢NDED JI AIIGIIST 2025 Reiirenieiii btiicfjt 10 ciiiployees we proirided by Ilie Teacheis, Pensioii Scheiiie I'TPS'I ld Ilie Local Goverimie1)1 Pciisioii Sclienie I'LGI)S'l. llicst are d¢fined beiittit %clicni&£ aiid Ilie asscl% art held separat¢ly froiii Illo of the acgdemy trust. Tlic'l'PS is an unfundcd gtliellie and eojilyibulioiis al'e cgl¢ulated so tu spi'edd Ihe eosiof pKJ)sions ovei. einployees, workiiig lives willi Ilie academy trust iii sucli a way Ilial t1 ptiisioii cr>sl 1.% a.4ubslaiilially Icvtl perceiiiagc of curreiit and fvtuie pensionohle payroll. The coniribulioiis are determined by the GOiJeitMenl Actuai'y oil t[ basis or schemc and IlieiE is iiisufficient infonnaiion 2vailabl¢ 10 use defiiied benefit acuJuniin8. llie TPS is therefore lieaied as a dered tonlribulioii s¢hein¢ lor aecountiiig purposes attd thc coiiliibulions I.ecolS¢d iii the pei'iod to which tliey rclate. I'he LGPS is a fundcd Inuliirflliployerscheme and Ihe assets &e lield SepatelY in trustee adinls[tred rd5. P¢nsioD scheme assets are iiieasui'ed al faiK value and liabililies &'e iiieasured on an aduzrial basi8 iising Ilie proj2clcd unit credit Incihod and discounted at a rale ¢quival¢iit lo Ilie cutsenr rate of return o)) a liigli qu91ity corporaie bond of e4uivaleiiiiei.m cuireiicy lu ihe li&bililies. Thed¢luarial valualian.431E ol)lained al Sc8sI Ii'icnnially and areupdal¢d at each balartce sheti date. Thc &iiiouiits ¢liwEed 10 opei¥iing surplus are the currenl service costs and Ilie cusis of schtine inlix)dJciions, llerit chIE¢S, 5ettlenienls atid curlailiiienls. 'fhey are 11)cludtd as parl of 8latT costs as incurred. Nlet inter&81 oli Ilie nei d¢fincd bcnefil liabilityl&s%el 1% olso recogiii8ed in Ilie Slatenient of Financial Acliviiies 8nd coinprises Ilie iiiteirsl cost on the detiiicd beiiefit obligaiioii and iiileiesl iTKome on 111c sch¢in¢ a%$et%. ealculalcd by Inuliii)lying Iht faii-v&lueoftlic scli¢iiie a5s¢ts 8t Ihe begi]ing ofihe pei'iod by Ihe rate used to discuunt Ilie beAefii obligaiions. Tlie diffeiEnce lIvetl7 the iniercsl incoin¢ oil Ilie sclienie asset£ aiid Ilie achjal I'cturn on the schtine assets is I'ecogiiiscd in otliei. recogniscd gains aiid losses. Aenjarial Eains and losses gjr ieeognised iinniedlte]Y in oiher recugnised gains and lusses. Fouiidaliunemployees art wl ora dered conlribulion workplace $10n scTrKme witli Salwus M8slei'. Payments lo defiiicd eoniribulion retirement &nefil %cheines e charged as ali exFtnse as Iliey fall due. 22
Tiir. cnRDON foiiNDA'fioN NOTfs T(>'i'iir riNANCIAI. S1'AT1PlENT.£ roil Tiif. VLAIi i.NDL4 D 31 AUGUST 21)2fj 21)2S Resti'ieltd 2024 Tolol riund5 DONATIONS AND LE4GACIES Doiialion5 ld gir Legacies 602,343 602,343 21,042 602,343 602,343 21.042 ESPA capithl 8raiits 31,377 31,377 30.466 31,377 31,377 INCOMr rR()M C.'HAIiI'I'ABLL ACTIVITIr.s Gix)ss iiicome from bo8rding eharEe$ 13,504,882 134.158 13,639.040 12,563,410 Bui'saries Siaff disLuuiiis Oihcr discouiits {603.8901 146,3481 1603,890) 146,348) 115,0321 (528,9771 135.9581 19,3551 Ner incoiiic froni boardiiig chwges 12,839.613 134.158 12,973,771 11,935,120 Oilier operatiiig income 833,181 833.181 751,126 Fuiidiiig for the Acadciiiy's cduc81ioiial opei'aliolls 6,659.114 6,659.114 6,157,715 13,672,794 6,793,272 20AC>6,116(> 18143,961 T114DING AcfiviTIQS 'rtsdiTrE income 618,779 618,779 316,380 618,779 618,779 310J80 INVE4STMENT tNCOME 10 108,874 Dividcnds received 100,044 8,830 108.061 100,054 8030 108,1184 108,OCIl 23
TIII. GORDON fi()IIVDA TION NOTES TO Tiir. rÉlNANCIAI, STA Tf,Mfi NTS {e.•Jilin¥e(11 roR THE YEAR E4,NDED 31 AUGUST 202$ EXPENDITIIRC 2025 S*Rffcust$ Statrwsts 'reachiii8 costs WeltJre eosts 13,713.542 13,713,542 492,141 2,667,203 2,613,578 492,141 2,667,203 1,917,960 695,618 Support e0515 13.713,542 6,248016 695,618 20,657,976 Raising fulld5; Finziite c051S oilier costs Tradiiig cosls 233,277 1,448 356,541) 233,277 356,546 J3,713,S42 6,840,087 695,618 21,24Y,247 EXPENDITURE (PRIOR YEAR) 2024 Total Staff Cos18 D¢pi'cciation Chgrilable 8ctiYity: Siartcosls 'rcacliiiig tosts Wcifai'e cosls Pr¢inises c0518 Support cosis 12,100,053 12.100,053 464.652 2.674,178 2,553.247 1,002,027 464,652 2,674,178 1.920,816 1,002,Q27 632.431 12,100,053 6,061,673 632,4Jl L8,794.157 R#i5iTrg funJ5: riii&iee costs Odier Lusls 'riading t051$ 242,49n 1.885 204.426 242.490 1.885 2n4,426 12,100,053 6,510,474 f)32,431 19242,9.58 2025 2024 Total ¢Yp¢ndititre imcludes: Deprecittiioii Oi)ei'alinB lease payin¢nl% I'ccogniyd as an expeiise Audiior's iemuttmiion.. Audit fees Oiliei. services 695,618 460.966 31,250 632,431 344.04Q 31,400 14.240 24
-IIE ('I)IIDCTrN liOIINI)AI'ION N()TFI S TO'I'IILE b IliAN(.'IAL S'I'A'fLI IMI.,'N'13 IC.(bntiiiu¢dl IOR I'ITF YF.AII LNI)LI) 31 All(ill,%'1' 21b25 STAf4F COSTS 2(k2.% 2024 Wages ld salaries Social secui ily costs Othcr lSion eosls Sff reslrucluriiig costs 10,641,330 ,192,647 ,879,565 9.570.614 lJ53.301 1,576,138 13,713,542 12,100,1)53 2025 2024 The avci'ag¢ nunib¢r ofeiiiployees in the yew. Ivas.. TeaGliei 79 208 77 287 271 The iiuimbti, of higher paid staff duriiiE 11)c Y wag ag follows.. £60,001 to £70,0(N) £70,001 to £80,0(M) £80,001 to £90,0 £90,001 to £IOO.(M)O £IOO,001 lo£llO,000 £130,001 lo £140,000 18 15 39 31 No Iiilsle& received any rciiiuiierali(In QT hei*fils-iii-kiiid duriiig the Ye 12024.. £iiill. No trustees rceetved reinibuiseiiieiii ofexpeijsrs iti res¢( ofii'avel ld subsistejice duriiig Ilie year {2024.. £iiill. Peitsioii eoiiLribuliOits of £117,460 {2024.. £100,258) wtit Jjiade to pcrsunal pe1101) plans it) I'espwl of liigli¢r paid staff dui'ing Ilie ycw.. 'riic key man8gemcrti tsonnel of tl)e g'oup coinprisc th¢ Ti'u%iec%, Hc8d'l'eacher, Fin¢¢ & Operation5 t)irector, Developiii¢nt Diirclor, HR Direclor, Eslales Diieclur, Depuly Head of Pastoral &id Deputy Head of Cuiiiculuiii. I'k total I'emuncrali(>n of the key MaTgenie111 personnel duriii8 Ilie ye&. 'aS £8X2,37512024.. £840,215). 25
TIIL C()III)ON foiiNDA TION I OTf.%'i-o-I'IlF. fiINANC.IAI. STAI'F.MI:, NTS IC:(btitiiiuedl roR TIIE YbAli r.lii)r.D 31 AU(illS'f 2025 FIXED ASSCITS-GROUP AMJ CHARITI, 'iilitslJ N9h1ClY & Inxtuves As8cls undci. TotAI Academy TolRI Equlpmeiil C.hRI'iIy Ti'y$¢ C05T Ai i .8cle1llb 2024 27,163,176 726,852 30.209.4 1249.709 31.508.713 389,930 844,215 31.626 875,841 120,0981 (20,0981 120.0981 12453321 225,022 RecI8ssificRlions 245.232 At31 August 202S 27551,554 1,294042 1 J35J73 851,452 3J,033,121 10JI JJS 32J64A56 DI-. PR Tr.CIAI'I()N At I ScpiemE(r2024 Cliar8c for Ili¢yui- 6,670,535 401.000 1.099,004 1,031,106 80.745 137.693 8,800,645 1.110,312 619,438 76,180 9,910,957 695.618 Al 31 Augusl 2025 7,171.135 ,179.744 1.168.799 9,420,083 1,186rt92 10(I06575 YET BOOK VAT,IIF. At 31 Augu312025 20A8O.01 166874 851,452 21,613,038 144,843 21,757081 AtJl AgUSt2014 20,492,641 109,721 7260.42 21A08,349 21597,756 FiXED ASSF.TS INVLSTMLY"I'.4 -GIiOUP ANI) CIIARITY 2025 2024 Balance at I Seplanbcr 2024 Icxoliiding casli deposits) 3,453,155 334.303 1319.5061 117,944 3.013,280 149,484 156,1801 346,571 Disw.8915 at Oni]ig niai'kel vAlue Reglised ld Llrtrealised Ilo&sesllgAiiis algnce 4t 31 August 2025 lexeluding e&qh dewsitsl 3,$8S,896 3,453,155 Czsli deposits 34,604 43.926 Bwlance At 31 Au¥v$l 2025 3,620,SQO 3,497,081 Class ofinvestsnenls is split as Follow.. C8sh or cash equivalen15 EqLiilies AlterD8live investnients Fixed inieresl 34.604 3.322.434 16,635 Bal&ice ai 31 August 2025 3,620,SOO 26
THE GORDON FOUNDATION NOTES TO THE FINANCIAL STA TEMINTS {Coiilinu¢LII i.'oii'rTriL YEAII 'ED 31 AUGUST 2025 10. INVCSTMLNTS IN SiIBSIDL4RY IINDERTAlaNGS- CHARin' gjoup nderlHliing5 Balaiice al I S¢plemb¢i' 2024 )d 31 August 2025 Details Dfilie t11,itle e01nlly'S subsidia'ics at 31 Augusl 2025 follows.. lil Guixion?s Scliool A¢#dcmy Trust is a privotc LolliplY liiiiiied by guar71¢¢, doi)iiciled and ii)coi'iJoraled iii EligIld aiid Wtles. Tlie regisieied offic¢ 8iid priiicipal place of busii)ess is Bagshoi Road, Wesl End, Suri'ey, GU24 9PT. Oli the basis Iliat The Goi'doii Fouiidalioii is iiieinber ofilie Goidoii's School AtAdeiiiy Ti'u51 lias yignificanl iiillueiiee ov¢r the eiility, Goydoii's School Acadcmy Trust lias keli included wiiliiii Ihe coiisolidated fil17ClaI 51atenienls. Ac&dciii Total 2025 Total 2024 Totsl Iticoiiie 10,$01,$15 9,027,865 Totsl Expeiiditure {10,320,4441 19,232,873) Nel ilicojnellexpei1IUre) 181.071 1205,00081 Oilier iecogiiiged gai11s )dI08seS Aciuai'itlllossesl oli deliii¢d llerit pcn%ioii %cliciiie Adjusltneiil for I'e5triclioii oil pension assets 777,rJno {794,0001 207,000 11,owi Nei iiiovemeiit in fuiids 164,071 992 Tolal funds biought folwd al I September 2024 25,040 24,048 Total funds carried fOrwd al 31 August 2025 189,111 25,040 Bslance Sheet Fix¢d A%%els 144,843 189,397 Current Assels 1,232,209 1.000,089 Crtdilors falling duc after Inorc Ilian one year 1.10,9511 143,3311 LGPS Pctt5ion Schcnic Liabilities Total Funds 25,U40 27
'ri4E GORDON fiOIINDA'fi()N
yol'li 8 Tn'riir. r4JNANCIAI. SI'ATIPMfi,NTS Icoiiiiihuedl
roft'riir YLrAII &NDL4 D 31 AUGI;'SI' 2025
INvf.si'MLIN'I',8 IN, 8I114SII)IAIIY IINDLI Ii'fAI
'I'HL C.OIII)ON foiiNI)A'fioN NO'l'CS'fo'i'iiF. I,'INANCIAI, STATfi MifNT,4 (c.,171117Cdl FOII TIIF YLAR fNDLII) 31 AUGIIST 2112S CRCDITORS: iihounls falllng dut Gi'oup Gi'oup 2024 2025 2024 Bk loan 6,217,618 0.549.998 6.186,667 6,506,667 6,217,618 6,549,998 6,186.667 6506,667 Analysls of lo*ns: elweeii oiie and liiro years Betwe1 ttvo &id five ytars Aftei. five yesrs 332,380 978,571 4,906,667 332.380 990,951 5,226,667 320,000 960,000 4,906,667 .120,000 960,000 5,226,667 6,217,618 6,S49,998 6,186,667 Due ivithin one year 332.380 332,380 320,000 320,000 6,549,998 6,882,378 6,506,667 6,826,667 Ai Ilie yearciid, llic Goi-doii Fouii(lalioii118d ttvo loiig t¢i'in lowis. Both lows air secured by legal fiisl charge% ovei. frccliold laiid and bEsildiiigs of The fjordon Foui)datioii. The first ik loaii of £2.(M)O.000 ivas lakei) out iii D¢c¢inb¢r 2018 and is due for ItyettI by tiisialnjehls by JluY 2044. ljjlei'esl acciues oli this lo7 al 3.8Yth ziid ti)Itresl payii)eiils are niadc quamerly. Capital repaym¢iits eoiiimcnced iii J&luY 2020. The %e¢ond bbnk lo&n facility of £6,000.000 was tsken out ui Deceiiibei. 2019 to fulld tonstruttioii of a iiew sporis la¢ilily aiid all Pe9111el. pilcli, A suni of£4,549,998 was oulslaiidiiig al 31 Augusl 2025 ai)d Ilie eapilal will k repaid by iiistAliiientS Ulilil J)uary 2046. Siitcrcsl awrues oil iliis loaii at a I'ale of 3.3°kn and iiiieiEsl yMe1ts n1[e 29
THE (:OIIDON I,'OIINDATJONI NOTF.S T() TTrIL I,-IINAh'C:IAL STA'fci.IAEN'I'S IC.uiilinuedl roR Tr. YLAR ENDID 31 AIICillS'f 2025 15. LEASE COMMITMEINTS Ai I l August 2025 die iotal orruillre IJ)iiiiniuih lease pAyineiiis uiidei. iioli-lCe11ab1e 0XIlI18 leases iveie.. 2025 2024 LeASCS expii'ing.. Wiiljin oiie year Betwccrt livo and fivc ytsvs Mol'e Ihwi fiirc )iew's 246,099 300,311 321,216 483,917 16. UNRESTRICTED FUNDS Jl August 2024 Trn$t¢1'5 De&i8ndled- yit Fund General Fund 50,651 50,651 13,552,043 14,993,970 114,555,21Jl 108,365 320,989 14,420,154 13,602,694 14,993,970 114,$55a131 108,365 320,989 14,470,805 ITNRFSTRIL TED FUNDS IPRIOII YEI ARI I Septenihei. 2023 Income %penditurt Jnve5tment GHi*slLo55eJl Ti'¥n5fcv% 1024 Desigiialcd Eyre Fund General FuAd 50,651 50,651 I3.136.2 13.079.¥83 112,W4,0571 329.985 13,552,043 13,186,883 13,079,883 112,994,1I571 329,9¥S 13,602,694 The Designated Byr¢ Fuiid repr¢senls Ilie balwice on w) ur$tricted dollaiion ivhich 1$ used to [p finance rnusic kssons. 30
THE CORDON rOV,DA.r[0N NOTES TO THE fINAN'CIAL STATE4 MENTS Icojilinuedl riOR TTIE YEAR CNDEI D 31 AL'GUST 2025 17. RESTRICTCD FiD$ BHIAn¢e At JI August 2025 2024 Inc(bnie 4ipendituve Gxin$l{10s8ts) Ti'gnsfeY& Spocific fuikds.. Goidoii Ftruiidaiioii 444,775 8.830 11.4281 9.649 461,826 Sieppujg Furward Appeal fuiid pl70 fut)d Burs&'its DrcgF IDtEI fuiid Othcr re%tricied fuiids DtE Fixed A55eL lund 300,686 300.686 1,740 266,706 18,231 6,659,114 79,4( 510,635 1.740 400,864 43,919 79.404 144,843 {6,633,4261 31,377 (76,1801 1320.9891 1,622,177 6,833,479 (6,711,034) 9,649 IJ2O,9891 1,433,282 P¢ll4ion rt5crvc 17,on 117,0001 RL,,S,'I-IiIC'I'II) FIIYDS IPIUOR I'EARI ilalance At 31 .4ugu&t 2014 I Scptcinbcv 2023 Investsijent Gxin$lllos8es) TvinsfeY8 Incotlle Expenditure Specific funds Gordaii FoundalioiJ Special fuiid Sieppiiig ForW.d Appeal fvnd Piaiio tui Bu[s'le£ 417,729 12,488 11,8601 16,366 444,775 300,686 1,740 227.348 28,738 79,404 555,040 3CpO,686 1.740 266,706 18,231 79,404 510,635 39,358 6,157,715 Dfl%l.' IDfbl fuiid 16,168,222) DfF. I,'ixed A%set fuiid 30,466 174,8711 110.68S 6,24Q,027 16,244,901) 16,J66 ,622,177 Pe115ion i'c5ciwe 1202,0001 14,0001 21)6,0110 Gordoii FoiiThdxlion Si)ttial Fund- this luThJ ttpreseiits the balaiice of &ssels Iran8ferred by several connected Charit¢S oil l April 1996. Stepi)Ing fiol'lval'd AppgRI Fund - this fund reflects an appeal lo eTdigJice p¢iforming art5 facilities ai Goiéon'8 Scliool.
THE GORDON FOIIN'DA TION NOTES TO TFVE fiNANCVAL sfATEMEIYTS Iconilijuoiti FOR TH£ YCAR ENDED 31 AUGUST 2025 17. RE4 STRICTC,D FIINDS (Continued) DfCSF IDIEI f4und & DfE Fixed Asgcl fund these I'uiids I'efiect iiioiiies received froni die Dep.lie111 for Ediicalioii Ii)r¢viou8ly t1ie Depai'liiienl tor Cliildren, Scliools &iid faTnTliesl. fror the purpo4e of a%8i81inE willi the Eeiieixl acodenjy iting e4)sls and bLiilding projecls. Othcr t*sLI'icted funds represeLioUier specific doiiat1011S to fuiid acliviiies ofiiie Fouiid81101J. ension RcseiTrre- this fi]rtd iepi'esei)Is ilie s]itu-e of Ihe peiisioii deficit boi)ie by 11)e subsidiary. Gordoti's S¢h(x)I Acadcihy I'msl, iii Ilic kncal Gov¢iiini¢iil Pe11011 Schcnie. furlIr dtlail is giveii iii iiote 21 below. 18. ALLOCA TION OF TTrJE CROIIP NET ASSETS Tangible Asscts i et l.'uJ'rertt Assets IJong Tti'itb Inyesliiients Total Pension Resleted Spectfie Re%lricled- Peiisioii e1ve 273.552 144,843 1.014,887 1,433,282 Uiirestricled 3,346,948 21,613,038 14,271,563) 16,217,618) 14,470,80.5 3,620,fjOlb 21,757,881 13,256,676) 16,217,6181 ALLOCA TION OF THE GROUP NCT ASSITS {PRIOR IIEARI Ntt Current As$et$ Long Tti'iit Inve51ment5 A55ets T•tal PcTh5lOtI Eiesli'icled- Specific Restricted- Pe118ion rescrve 273,522 189,397 1,159,258 ,622,177 Uiyesiricled 3.223,559 21,408.359 14.479,2261 {6,549,9991 13,602,694 3,497.081 21,597,756 13,319,968) (6,549.9991 15,224,871 19. CIL4RITI' UNRESTRICTED FlllYDS IINRf.STRicfF.D fuNDS Ilalanc£ at 31 August 2025 2024 Iiitome Expendltui'¢ GAiiislllossesl Ti'ansfers Designated- Eyyc Fund 50,651 50,651 General Fund 14,042.284 14.599,689 108,365 14.406,220 14,092,935 14,599,689 114,344,118) 108,365 14,456,871 32
THfcow)ON fiOUNDATION NOTES TO TFIE IlIANCIAL STA TEI MENTS Icolltiiiuedl riOR THE I'CAR ENDED 31 AUGUST 202S 19. CIIARITI, IIiYRfsTRIrTr.D fiiND,8 Iconlijjuoill IINRE4 STRICTCD FUNDS IPRIOR ITI ARI BalAnLt al Scptembci. Jlalaijcc HI 31 August 2024 2023 ExpendStui'e Trai)sfers Goins111055tsl De5igiTraied. Eyre Fuiid 50,651 50.651 Geiieral Fuiid 13,480,J77 12,828,914 112,596,992) 329,985 14,042.284 13,531,028 J2I28,914 112,596,992) 329,985 14,092,935 2Q. CIIARITY RfsTfticfF.D fiiND,S IlalaiJ£t at I Sepitiiiber 2024 Investment 68ins11103stsl I'IRnsfei'% JI August 2025 F.%pciiditure Guidoii Foutidation Special fuiid Steppi118 Foi'i¥ard Appeal 444,775 8.830 11,4281 9.649 461,826 300,686 300,686 pi70 fuiid BuiTarics Other irslri¢led funds 1,740 266,706 79,404 1,740 400,864 79,404 134,158 J,093,311 142,988 11,4281 9,649 1,244,520 CIIAMI'I'Y KifsTIIICTED fuNDS IPIIIOR YL4 All) Bal%i)e¢ at Inveslnitllt 31 August 2024 1023 F.xpendituir Goi'don Fourtdalion SJK¢ial fund Slcppiiig Forward Ap[ fund Piano fund Bui'saries 011r resti'iclcd funds 417.729 11488 {1.808) 16,366 444.775 300,686 1,740 227,348 79,404 300,686 1,740 266,706 79,404 39,358 1,026,907 51,846 1,808 16J66 1,093,311 33
CORDON fouNDATION NOTfiS TO TIIE fiNANCIAL STA TEMCNTS Icoiilinuedl roR THE IIEAR ENDED 31 AUGUST 2025 21. PENSIOY AIYD $IlI[R OEILICATIONS Tlie acadeiny Iriisl's ¢itiployees kloiig lo Nvo pi'iiic&pal i)eiision scliemes., Ilie Teachers, Pensioii SCI177e EnglBnd ld Wales I'l'l>SI toi. acode1nic Rnd I'elaled slaff. aiid the l.ocal (lovelMellI Pcn%ian Sclicnic ILCJP81 foi- iion-ieacliing siaff, vliicli is ijiallaged by Surrey Couiity Council. Both are Inulli-einploy¢i' defiiied benefi15cIMes, ie pension eo818 assessed in accoi'dance ivilli Ilie advice of indeptiideni qualified acluaries. Tlie lalesl acluai'ial 'aluation oftli¢-l-P,% ielalcd to Ili¢ pci'iod elided 31 March 2020, Iliol of the l.tiPS reloled ID the i)ci'iod cndcd 31 March 2022. Conliibutions 8mouniing lo £437,735 ivei? payable lo the scheiiies at 31 August 2025 (2024.. £529,641) and 3ie illcluded 'IcRcheis' Pcn5ron SchemE Xrttioduction ie T¢acliers' Pension Sclieille ITPSI is 8 slaluloi?? CUllliibulut)'> defiiied benefji scheme, governed by Ilie Teacliers, out of tl]e TPS followin8 eiuoliiienl. ie TP8 is &n unfiindcd s¢li¢inc lo wliich boili I1 iiiciiJlxr and ct)iployei' nial<a% contribiitions, as a per¢¢ntage of salary. Tiiese conts'ibiilioiis greeiedited lo the Eycheqyi. Reliremeiit dtid oihei. pension benefiL9 paid by publi¢ lutids piY)vided Vlllusllon of tlit Te&ehers' Pethslon Sclienit ie GovertuiiEni ALtuary? USiIIE iiornial aciu&iil pi.iiic1pl coiiducis a foiiiial aLlu.al revieiv ofiiie TPS in aceoi'daiiee with Ilie Public 8eThic£ Pcii%ioii% (valatiO115 ld Lniployer Cost Capl FJirect10115 2014 published by 14M I're&%ury every 4 yegT5. The aiiii of Ihe revieiv is lo ensuit sclieine cosis are recOled aiid i1&Bed appJYJpYiately aiid l]ie review specifics Ihc Icvcl of futurc contribulioits. ActuJrial 5el*me vtsluations are dependeni on dssumpiions About Ilie value of ftlture costs, design of benefits atyj maiiy otliei. fa¢lor5. Tlie lale5t actuw'ial valuation of Ik 'fi)8 was cari'ied out as &131 Marcli 2020. 'Ilic valLialion rcwrl published by the DepBrlment for Edueaiion on 27 Ociober 2023, with tl)e SCAPE late, sei by HMT, &pplying a iiotional IllVCSliiietti I'clui'n based on l.VA aboire Ilie rale ot'CPl. The key elemeiil8 of tlie valuatlon aulcoiii¢ we.. Employ¢i' coiitriixilioii I'Alcs sel At 28.68¥oot'l1Si0nabIe pay (including a11.OB/n adniinisliilion levyl.'lknis ].% tyn increase uf5OJo in elliployer eortliibiiiions 2nd the cosi Lonirol isU[l is suLli thai no Llidnge iii Inembei. bertelils is needtd. 'ri)lal linbilitics Ipcnsions currently in Pdyllltnl end th¢ esliiiiaied co%1 of ftrture bcncfitsl for scrvi¢e lo thc effeclive dale of£262,000 iiiillion and notion31 gssels lesliinaled fiiluie Lunlribulions lugeiher %viUI Ilie nolional invesinients held Rl ihe valualiots datel of £222,200 niillion. giving a notional past service d¢fi¢il of £39,800 Tlic re%ult of this voluaiion i¥ill be impjeiiiettled from l April 2024. Thc iicxl valuation result is due lo k impleiii¢nied from l Api'il 2027. Tile employei $ pensioii Cosig patd to die TPS in Ihe riOd thiiOLinled lo £1,462,14612024.. £1,209.3961. A copy ol'die valuatioii iEporl 3nd sup5M)rlllig docuiilentl0ll is oil the Teachers, Peitsiojjs ivebsite. Under Ihe definiiioiis scl out in FRS 102, Ilic TPS is an unfunded mulli-cniployer pen%ion sclienie. The acad¢iiiy Iru.%t lias accounied foi. Its coniributions to IIK s¢heiiie as if il I4rir a defined conliibulion SLhenie. The Cen1Y Irusl 118g gel OUI above the infonnalioii available on Il)e schcme. 34
Tiif GORDON fiOIINDATIO NOTES TO THE FINANCIAL STATEMENTS IL'onlitlUL'dl roR THE YEAR B,DED 31 AIICUST 2025 21. PENSION AND SIMILQR OBLICATIONS Icontinuodl Loc1 G(svet'nmenl Pensiun Scliemc Tlie LGPS is a fut)ded defiiied beiietit kKi)sioii sclieiii¢, with Ili¢ assels held in separate Ii'Lislee-adiiiiiiislered fullds. Tlie lotal canli'ibiitioii.E arc ELS liated below. 'nic agrced canti'ihulion rates for fLlture yelliT are 21.2% foi'einployers &nd 5.5 A lo 12.50h foi. eiiiployees. ParlianJeJJt has agyted, al Ihe requesi of the Secreiaiy ofsiaie for Education, 10 a guaranlee lh in the evenl of acadetny closuiE, outsthnding IA)cal Cioverninenl Pensioii Sclieiiie li&bilities ivoiild be Inet by the D¢pailr)ieiit foi. Ldiicalioii. 'Flie Buaraniee caiiie 10 force oji 18 Julj 2013 ld 011 21 Jlily 2022, the Departrtieiit for EdLlCQtioll reorfirmed lis coiiiiniinient to the guaraiite4 Iviih a parliai)ieiit&iy iiiiiiiile wblishcd oli CJOV.IJK. TolAI contJ'ibution5 Jii#de 2024 Einpluyer's conlribulion5 Einployees, conlribiilioiis 190,0(XJ 63,000 201,(HJO 67,000 Totsl coniributi0Th8 253.000 268.000 Pi'lnclpal Assuniptlons 2025 2024 Rate of lilcre iii Sai1e8 Rale af ii)c¥eas¢ for pensions sn paynieiiflinfialion Discount iaie foi. s¢hem¢ liabili11¢5 3.70 2.70 6.05 3.65 2.65 5.00 ThecurrentniortalityD%sunii)lion% iiicludt %ufficieiil allowanec for futllrc impravemeiits in illorlality rale5. Th¢assurned life expt¢iati0ts8 oil reiirelneiii aEe 65 are.. 1025 Ytrs 2024 I'e#rs MleS Feinales 22.0 25.4 21.8 25.3 Rcliiitig in 20 yeaL Males Feinales 22.9 25.9 22.7 25.9 35
THE GORDON fouNDA TIO liOTCS TO THC fIN.INCIAL STATEMrnTS Iconlinuodl FOR THE YL4R ENDEID 31 AIGUST 2025 21. PENSIOli AND SIMILAR OBLIGATIONS leolltinuedl Sclieiiie liabilities I)uld li&ve beei) alyecled by clianges iii &ssuiiiplioiis as follows., 2024 Discount rnte 4 0.IVo Discouni l'ate- O.lO/ Moi'lalit), 5$U1p11O1l + l year 152,oaoi 52,0(M) 103,0 (103,0001 53,01 I53,0)) 61.0(X) 114.000 1114,0001 61,0(M) 161,0001 l iale * O.IVo CPI I'al¢- O. IOA Dcfinc(I benefit pension 5clieme net liability 2025 2024 Seheiiie gssets 3,362,(M)D 12,567,000) 1795,0001 2,842,OCNJ 12,841.(M)01 I 1,0001 Restrictioii on 5Gh¢iiie assets The academy ti'ust s sliave ofthe assets itt the sehtme 2025 Falr value 2024 r4air valu¢ Equities Bonds C8sh Pioperty FILS 102 As8et ceilillg 2,522,000 471,000 134,000 235,OUU {795,0001 1103.000 398,000 227,000 2,567,000 1841,000 llie aLtual ieiurji seheme se18 was £326,00012024'. d gain of £319,OIM)I. An10At Yecogthlsed tlle Statement of fi insnclfil Aetii'ltits 2025 21J24 Cui'iEiil seivjce cosi Inicrcsl incoiJe 174.000 {147,000) 146.000 195,000 1125.0001 135,000 ToLql operating clwge 173,000 205,000 36
THf. GORDON f4OIINDATION NOTEI S TO THE fINANCIAL STATEfvJENTS leontinuedl roR THEYEAR EINDED31 AUGIIST2025 21. PENSION AND SIiIIILAR OBLIGATIOliS Iconilnued Change$ in the pi'csenl vxluc of defined benefit obligntiolls 2025 2024 I I Septeimbei 2024 Cui'rent serviee cost Interest C051 1841.000 2,499,000 195,000 135,000 67,000 {3,0001 152,0001 l46.000 63,000 1598,0001 159,000) Actu.11 gain Benefits i)aid Al 31 August 2025 2,567,0 2,841,000 Chgttges in the fair value of th¢ ocademy tl'U8t'$ sliire of scheme 955et$ 2025 2024 Al I Sepleiiibei. 2014 lexcludii)g Feslrictioii 01) scherne assets) Interest incoine A¢ttiari41 Igainlllos% nployei. coiilributioiis Employee eonlributions Benefits paid Re&triciio&i 011 stlieiiie assets 2,842,000 147,000 179.000 190.000 63.000 {59,0001 1795,000) 1.297,000 125,QOO 204,000 20 1,000 67,000 152,0001 11,0001 AI 31 AuEU512025 2,567,0(K) 2.841,000 Tr rewrt foi. Ihe goverNiient pensioii schenie shows a peiisioii Assel of £795.01)O ai 31 Au8USt 2025. The po81tiv¢ p¢iisioii asset ha5 llot beeii iE¢ognised but instead h9$ been sliown 0$ a breakweven position 9$ there is iA¥uifici¢iil cvidcii¢¢ ie conclud¢ Il)al Il'&%scl' niay be available to I'educe future pay111lIs. Ali assel sliould oiily br IEcogtiised lo Ilic cxlciil tlial Ilic tmployer 15 ablc lo reeovei. th¢ 8u4)lus cilhei. Illrou1 duCed conli'ibulioii in Ihc futurc or iefuiids froin ilie plan. We liave lliadc furllier disclosurc lli Ilie Truslecs Repoi'l aiid iii Ilie iiole oiijudgeiiieiils to adequai¢ly Irfleci thi& Fouiidaliaii oFYers eiiiployees a workplace peiisioii and uses IhB Salvlls Maslei. Ti'usl. einployei. Colilribulioii rale is 7%id 11)ceniploycee0iitril1oIi i?te is a mii)iniiiin Of3.50/ The eniployerp¢iisi011COSts dui'iiigtlieyearwcre£243.555 12024.. £203,959) gnd there Pele iio coiilribulioiis payahle lo the schenie al J I Au8usI 202512024.. £iiill. 22. RCI I,ATID PARV, TJUNSACTIOYS Thcre were nts related i)llrty trthi$&clions in the lIod(2024.. None). 37
THC CORDON FOL'NDATION NOTES TO THE FINANCIAL STATEMENTS (Cortlinuedl roR THE YEAR EINDED 31 AUGUST 2025 21. COIMPARATIVE CONSOLIDATED STATEMEKr or riNANCIAL ACTIIqTILS 2024 Funds TolAI 2024 Toill 2023 Donaiions and Ir8a¢ir$ Grants 21,042 21,042 30,466 28,751 188.675 30,466 Cb&iitAblc A<tiviti~. liiron* froiii bogrdliigch8r8eS J9.358 11,104,652 654,337 5,874.019 Funding for tlic Academy's edU110nl operaliong 6,157,715 Tradiiig iii¢ome 316,380 316,380 241,685 93,573 1()2..$39 TulAI In<oJMc 13,079,883 ,24OM27 19J19,910 18,194,569 Sthff costs rducRliorbBI Gosts W¢ifafc CllSLs Preinises ctssts Sllppoiicosts RAlg funds.. Fin&ncccos15 7,492.017 4,6Q8.036 464,652 10,778,O(Tr7 480,061 2,303,053 3.207.709 464,652 2,674.178 2,553J47 1.002,027 2,674,178 727,431 446,974 555.053 242.490 77 242,490 255.I8.fj 1.944 1,808 TradinBeosii 204,426 204.426 230.426 Totxl expendire 12,994,fj57 6,248.901 19,242.958 18J68J31 85026 180741 76,952 1173ts731 329,985 16,366 346,351 192,8461 7,492 423,303 1266.1491 ActU8fiRI IlosscsygAllison defild beijefil pBnsion 5rli¢15 206,OtX) 206,000 500,000 213492 629,303 23J,581 bAIIiic¢s brou%lit foiiwAI'd Al 13,186,B83 1,408,fj¥5 14,595.568 14,361,987 riund balAn<ts iAI'i4td foi'wAt'd al 31 AuguAI 2024 13,6DI,6fj4 1.622.IY7 14.214.871 14,fg.5,568 38