OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-08-31-accounts

SARUM HALL SCHOOL ANNUAL REPORT 2025

2025

4

CONTENTS

Foreword

Report of the Governors

6

Charitable Object Aims Achievements Leavers Destinations Objectives for the Year and Future Plans Public Benefit and Community Engagement

Governance Structure

12

Governors

Structure, Governance and Management Risk Management

Financial Review and Statements

17

Financial Review and Results for the Year Statement of Governors Responsibilities Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements

Report of the Independent Auditors

33

The Governors of Sarum Hall School Trust Limited present their Annual Report together with the Financial Statements for the year ended 31 August 2025 and confirm that the latter complies with the requirements of the Charities Act 2006, the Memorandum of Association, the Accounting and Reporting by Charities in accordance with FRS 102 applicable in the United Kingdom and the Republic of Ireland effective 1 January 2019.

15 Eton Avenue, London, NW3 3EL

Registered Charity Number 312721

020 7794 2261

2025

“I think she is being extremely well taught in a very nurturing environment”

FOREWORD

From the Headmistress

Sarum Hall School is an exciting and busy place with many opportunities built around a strong academic foundation. It is fascinating to see how the staff and the girls bring learning to life every day to nurture and develop inquisitive minds and innate curiosity.

Our pupils are encouraged to challenge themselves in every discipline to find their passion for a love of learning in an area in which they can build confidence. This confidence quickly affords them the courage “to have a go” in other activities. We are unashamedly ambitious for all and value each aspect of the curriculum. This is reflected in the wealth of opportunities the pupils are exposed to and the range of stimulating subjects which make up our dynamic and diverse curriculum. In this way the pupils learn when it is their turn to step into the spotlight and contribute and when it is time for them to take a step back and let someone else bring in their area of expertise; all for the greater good of the team and the richness of the community.

We support our pupils to become independent, articulate, creative thinkers, who are inclusive, respectful, and courteous towards everyone. We encourage them to be resilient in themselves and to learn the personal skills needed to meet life’s ups and downs, so they can work and play with all members of our community.

Our caring and devoted staff – teaching and support – know each girl as an individual which allows us to identify and celebrate personal achievements and triumphs regularly. The strong sense of community promotes humility, a feeling of security and genuine happiness for one another’s successes.

Our pupils take their social and ecological responsibilities seriously, to ensure they can serve their community in the round. Our Golden Values (kindness, courage, respect, honesty, fairness, and resilience) underpin all we do to help prepare each child to continue their schooling and life’s adventures beyond.

“My daughter is happy and enjoys her school experience immensely. She often surprises uswiththe breadthofher knowledge” ~ parent

The Good Schools Guide says “Girls are bright and chatty, considerate, and polite, bubbling over to tell us about school life (not forgetting to push their chairs in neatly first). ‘So much fun’ they say, reflecting several parents’ delight at how their children ‘skip into school.’ A lively group of Year 3’s broke into a spontaneous jig, singing ‘We love our school!’ Parents praise the ‘good sense of collegiality throughout the school,’ with a strong culture of older girls being ‘big friends’ to the younger ones. School starts fairly gently in Pre-Reception but is much more academic than previously, with most parents welcoming the more structured approach and increased pace”.

Sarum Hall School nurtures, stimulates, and inspires. During the year our pupil numbers averaged 188, and applications for entry continue to exceed capacity. The pupils are rightly proud of their academic achievements and remarkable scholarship record. Their success is a testament to their hard work and our inspirational teaching and support staff.

Karen Coles Headmistress

“Sarum Hall School has this warmth and energy about it which is fantastic” ~ parent

4

2025

2025

REPORT OF THE GOVERNORS

Sarum Hall School is an independent preparatory school, catering for girls from 3 – 11. The School’s vision is to identify and develop to the full the natural talents and potential of each individual pupil and to prepare them for a happy, healthy, active and productive life.

Our goal is to instill an enthusiasm and a thirst for knowledge. Pupils are naturally inquisitive, and we use this innate love of learning to develop and inspire creative, independent thinkers.

We aim:

How is this achieved?

Learning Skills

We recognise that pupils have diverse ways of learning, so we employ a variety of teaching methods to bring out the best in each pupil. Our broad, balanced, and purposeful curriculum fosters core learning skills essential for success in all stages of their lives. We hold high expectations for our pupils and support their development into becoming independent, adaptable, and critical thinkers.

“The School combines high expectations with genuine care. The results are impressive, but the well-being of the girls always comes first” ~ parent

6

2025

2025

Achievements

Our pupils are rightly proud of their excellent 11+ academic results and number of scholarships awarded. The Year 6 cohort of 24 pupils achieved outstanding results at 11+ across the board. Collectively, the year group received 86 Offers to prestigious senior schools: 8 Academic Scholarships, 6 Music Scholarships, 3 Sports Scholarships, 1 Art Scholarship and 1 All-Rounder Scholarship. The breakdown of Offers and Destination Schools can be seen on the next page.

We are delighted with this success. We are a non-selective school which means that we do not choose children aged 3+ based on their academic ability even if it can be tested. To have such strong results at 11+ is a real testament to the hard work of our pupils, the dedicated teaching staff, and the whole community who have supported them to achieve so much.

Pupils successfully took part in ABRSM and LAMDA examinations, chess competitions, debating competitions, general knowledge competitions, science competitions and the Primary Maths Challenge.

We aim to foster a love for sports, music, drama and the creative arts in equal measure. The pupils have excelled in various sporting competitions, winning many fixtures and tournaments throughout the year. The pupils achieved notable success in netball, gymnastics, x-country, chess, swimming and athletics.

We pride ourselves on the quality of musical concerts and recital evenings which take place on site as well as the performances during assembly and joint concerts with other local schools. The calibre of acting never ceases to amaze the parents, right from the EYFS Christmas Production to the Year 6 Leavers’ Play, every pupil has their moment on stage. Our pupils take great delight in the breadth of creative arts covered at Sarum Hall School. From fine art to fine food, architecture to sculpture, and engineering to print making, every aspect of the creative world is covered.

The Independent Schools Inspectorate (ISI) assessed our school in October 2023 under the new framework. They said:

Our dedicated and inspirational teaching and support staff made these superb achievements possible.

8

2025

Leavers’ Destinations

In 2025 our Year 6 pupils moved on to:

Other popular Destination Schools in previous years:

Objectives for the Year and Future Plans

In addition to continuing our impressive academic track record, the priorities remain to ensure empower our teachers to deliver the highest possible service to our pupils.

The primary goals for this academic year, as well as those for future periods, are to:

We look to link the clubs to the curriculum so that we can extend beyond the confines of the classroom subjects and offer opportunities for pupils to develop their curiosity, resilience, and independence. Some of the clubs we now offer include performance arts, debating, music theory, choir, orchestra, Spanish, fencing, chess, creative drawing, arts & crafts, virtual reality design, robotics, ballet, cooking, and book club.

Throughout the year, substantial investments and time have been focused on adaptive teaching and problem-solving to ensure all pupils have the skills require to tackle the changing face of education.

9

2025

Public Benefit and Community Engagement

We have a longstanding tradition of supporting charities, particularly those dedicated to children’s welfare. In 2024-25 academic year pupils were asked to vote for one charity to support, and they collectively voted to support Kulira, a charity dedicated to improving children’s futures in Uganda. The school community raised a substantial sum of £8091. These fundraising initiatives encompassed a diverse range of events, including second-hand uniform sales, cinema events, and house charity days with themes such as ‘Dream Big’.

“The sense of community is exceptional” ~ parent

The Parents Association provides an valuable contribution to charitable fundraising initiatives and a termly activity. In 2024-2025 the Parents Association supported Spread a Smile, a charity which aims to bring joy to seriously ill children and their families during long hospital stays. Donations were raised through initiatives such as the annual quiz night which also featured an auction, with one of the lots being the opportunity to be Headmistress for a day! Later in the term, pupils were treated to a special assembly with one of the talented magicians that Spread a Smile sends into hospitals to entertain young patients. There was also a sponsored Easter Hop and Summer Fair.

In addition to the two main charity fundraising initiatives, donations were made to St Mary the Virgin Church Primrose Hill, the British Legion, and Food Bank Aid. Our connection with Rathmore House, the nursing home adjacent to the school, was also strengthened through carol singing and concerts.

We continue to be committed to environmental initiatives. In 2024-2025 the Eco-Committee met monthly and worked towards the Green Flag Eco School accreditation. One highlight was when Year 4 carried out a litter survey at Primrose Hill and received a letter from Sir David Attenborough commending them for their work. A pupil also received a letter from The King following her letter regarding our Eco approach.

----- Start of picture text -----
During the year, we provided financial assistance to one pupil.
----- End of picture text -----

10

2025

2025

GOVERNANCE STRUCTURE

Governors

The Governors of Sarum Hall School are also the Trustees of the Charity and Directors of the Company. The following have served as governors throughout the year and up to the signing of the accounts, except where indicated:

Julie McEver - Chair (appointed 26 November 2024) David Day - Joint Vice Chair Vivian Thomas - Joint Vice Chair Stuart Davies Sarah Hack Ian Lazarus Marcella McLean (appointed 1 October 2024) Emma McKendrick Amy Quittenton Gordon Rustin Caroline Sayer (resigned 26 November 2024) Kate Simon (resigned 26 November 2024) Jonathan Smith

Charity Number 312721 Company Number 00666444 Registered Address 15 Eton Avenue, London, NW3 3EL

www.sarumhallschool.co.uk

12

2025

Structure, Governance & Management

Governing Document

Sarum Hall School Trust Limited is a charitable company established in 1960. The liability of its members is limited to £1 each, if it should be wound up while they are a member or within one year after they cease to be a member. The company is governed by its Articles of Association, which were updated on 19 May 2022.

Appointment and Development

Governors are appointed on their ability, the value they can bring, and their alignment with our values. Before joining, new governors undergo an enhanced DBS check to ensure pupils' safety and well-being. Governors are appointed voluntarily and do not receive remuneration.

New governors are inducted into our aims, values, and operational procedures through a series of individually tailored meetings with other governors and the senior leadership team. Furthermore, they are provided with relevant publications and updates from the Charity Commission, the Department for Education, and professional organisations dedicated to the independent school sector, including the Association of Governing Bodies of Independent Schools (AGBIS), the Independent Schools Council (ISC), the Independent Association of Preparatory Schools (IAPS), the Girls’ Schools Association (GSA) and the Independent Schools Bursars Association (ISBA).

The Board

The Board are legally accountable for the overall management and control and meet at least three times a year and also also hold an annual strategy day. The most recent strategy day featured discussions on the prevailing trends in private school education and challenges associated with the implementation of VAT on school fees. The Board delegate responsibility to the following committees and they also meet at least three times a year:

The Education Committee meets to review academic, pastoral, and curriculum matters, including pupil well-being, any specialised requirements, and safeguarding.

The Finance and Estates Committee recommends the Annual Report and Financial Statements to the Governing Body. Its responsibilities encompass financial planning, including funding arrangements, reserves management, income and expenditure budgets, and performance monitoring. Furthermore, it considers matters relating to the built environment, such as maintenance and construction projects.

The Governance and Nominations Committee is responsible for assessing the effectiveness of the governance framework, evaluating potential new governors, and recommending their appointments. They oversee risk management arrangements and compliance. Additionally, it is responsible for the appointment of a new Headmistress and Bursar.

Management

The day-to-day administration is delegated to the Headmistress, who is supported by the Senior Leadership Team. The Headmistress is responsible for the appointment of staff, except for the Bursar. The Headmistress and Bursar attend meetings of the Governing Body and our Committees.

The Governing Body reviews the remuneration policy annually to ensure that our staff remuneration stays competitive.

14

2025

Risk Management

Governors are responsible for the management of risks faced. The Headmistress and the Bursar prepare detailed risk management reports. The reports set out the key risks to which we are exposed, an assessment of their impact and likelihood, the controls to mitigate them, and the monitoring that takes place.

Key risks identified include:

We consider this risk management approach to be likely to be an effective process and intend it to be ongoing. We also acknowledge that systems can only provide reasonable assurance that major risks have been adequately managed.

Auditors

Brewers Chartered Accountants will be proposed for re-appointment as auditors at the Annual General Meeting.

16

2025

FINANCIAL REVIEW AND STATEMENTS

Financial Review and Results for the Year

The net results for the year were a surplus of £396,792 (2024: £416,285). Income of £4,029,865 (2024: £3,840,615) is generated primarily from academic fees of £3,741,806 (2024: £3,483,836). Expenditure of £3,633,073 (2024: £3,424,330), consists primarily of School operating costs of £3,625,645 (2024: £3,405,303), the main element of which is teaching costs of £2,440,919 (2024: £2,291,252).

Reserves

Total reserves were £8,508,857 (2024: £8,112,065). Of this total, £5,590,893 (2024: £5,718,736) is represented by tangible fixed assets that are part of the premises and could only be realised by their disposal. The Charity has no contractual commitments relating to building works.

We maintain a minimum of £1,100,000 in free reserves to guarantee the accessibility of funds in the event of both anticipated and unforeseen circumstances. This policy is crucial for safeguarding our values and aims, ensuring the maintenance of the premises, and providing a financial cushion against unforeseen income fluctuations or regulatory modifications. The value of free reserves was £2,917,964 (2024: £2,393,329) exceeding the £1,100,000 level stipulated by the policy.

The General Fund experienced an increase of £339,823, resulting in a total of £4,426,721. This growth encompasses the surplus of £396,792 for the financial year against the transfer of £56,969 to the Building Maintenance Fund.

The Premises Reserve Fund stands at £2,848,430 and represents the cost of land and buildings of 15 Eton Avenue in 1995 when the School was built.

The Building Maintenance Fund has arisen by the transfer from the General Reserve of a 2% depreciation charge on the buildings cost. The fund represents reserves designated by the Board for the upkeep of the School buildings. Significant repairs are charged against this fund.

Future Plans

It is intended that the number of pupils at the School in the forthcoming academic year will be between 185 and 190. The Board will continue to consider the provision of bursaries as well as hardship support for pupil’s families as necessary.

The School will continue to generate opportunities for community involvement throughout the year. We will continue with adaptive teaching and ensuring our pupils are emotionally and socially ready to play their part in society. Plans are underway to enhance the front entrance and redesign the garden area.

Investment Policy and Objectives

We continue with a policy of a diversified portfolio comprising cash and treasury deposits of various durations and other investments. Other investments now only include a residential property acquired in 2013 which has been rented out on an assured short-hold tenancy agreement. Plans are in place to implement disposal of this investment property. We prioritise ethical and social considerations when evaluating investment opportunities.

17

2025

Statement of Governors Responsibilities

The Governors, as the Trustees of the Charity and Directors of Sarum Hall Trust Limited, are responsible for preparing the Annual Report and the Financial Statements in accordance with applicable law and regulations.

Company law requires the Governors to prepare financial statements for each financial year. Under that law the governors must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Governors trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Governors are required to:

The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Governors confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the charitable company's auditors are unaware. They have taken all steps that they ought to have taken as Governors in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.

This report has been prepared in accordance with the special provision for small companies under Part 15 of the Companies Act 2006.

Approved by the Governing Body at its meeting on 17[th] March 2026 and signed on its behalf by:

Julie McEver Chair of the Governing Body

19

2025

Sarum Hall School Trust Limited

Statement of Financial Activities

For the Year Ended 31 August 2025

(incorporating income and expenditure account)

Sarum Hall School Trust Limited
Statement of Financial Activities
For the Year Ended 31 August 2025
(incorporating income and expenditure account)
Notes
Income And Endowments from
Donations
2
Charitable Activities
Charitable activities
4
Investment income
3
Total Income
Expenditure from
Investment management costs
5
Charitable activities
6
Total Expenditure
Net Income/(Expenditure)
Transfers between funds
16
Net Movement in Funds for the Year
Fund balances at start of year
Total Funds at End of the Year		 2025
2024
Unrestricted
funds
Restricted
funds
Total funds
Total funds
£
£
£
£
12,138
-
12,138
2,868
3,842,895
-
3,842,895
3,676,773
174,832
-
174,832
160,974
4,029,865
-
4,029,865
3,840,615
7,428
-
7,428
6,745
3,625,645
-
3,625,645
3,417,585
3,633,073
-
3,633,073
3,424,330
396,792
-
396,792
416,285
-
-
-
-
396,792
-
396,792
416,285
8,112,065
-
8,112,065
7,695,780
8,508,857
-
8,508,857
8,112,065

21

2025

Sarum Hall School Trust Limited

Balance Sheet

As at 31 August 2025

(Registered company number 00666444)

Sarum Hall School Trust Limited
Balance Sheet
As at 31 August 2025
(Registered company number 00666444)
Notes
Fixed Assets
Tangible assets
10
Investment property
11
Currents Assets
Debtors
12
Investments
13
Cash at bank
Creditors
Amounts falling due within one year
14
Net Current Assets
Total Assets less Current Liabilities
Creditors
Amounts falling due after more than one year
15
Total Net Assets
Funds
16/17
Unrestricted funds
Restricted funds
Total Funds		 Unrestricted
funds
Restricted
funds
£
£
5,590,893
-
440,266
-		 2025
2024
Total funds
Total funds
£
£
5,590,893
5,718,736
440,266
440,266
6,031,159
1,099,423
-
3,236,345
-
917,976
-		 6,031,159
6,159,002
1,099,423
109,375
3,236,345
1,813,965
917,976
2,054,596
5,253,744
-
(1,877,566)
-		 5,253,744
3,977,936
(1,877,566)
(1,058,940)
3,376,178
-		 3,376,178
2,918,996
9,407,337
-		 9,407,337
9,077,998
(898,480)
-
(898,480)
(965,933)
8,508,857
-		 8,508,857
8,112,065
8,508,857
8,112,065
-
-
8,508,857
8,112,065

The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of Companies Act 2026. The Financial Statements were approved on behalf of the Governing Body and authorised for issue on 17[th] March 2026 and were signed on its behalf by;

Julie McEver Chair of the Governing Body

Stuart Davies Chair Finance and Estates Committee

22

2025

Sarum Hall School Trust Limited

Statement of Cash Flows

For the Period Ended 31 August 2025

Sarum Hall School Trust Limited
Statement of Cash Flows
For the Period Ended 31 August 2025
Net Cash Flows from Operations
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Investment income
Net cash (used in) investing activities
Increase / (Decrease) in Cash in the Year
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents Increase / (Decrease) at the End of Reporting Period		 2025
2024
£
£
150,082
392,822
(39,154)
(311,509)
152,032
138,174
22,800
22,800
135,678
(150,535)
285,760
242,287
3,868,561
3,626,274
4,154,321
3,868,561

Cash and cash equivalents represents cash at bank in addition to cash held in current asset investments being Treasury and other bank deposit accounts.

Reconciliation of net income to net cash flow from Operating Activities

Reconciliation of net income to net cash flow from Operating Activities
Net income for the reporting period
Depreciation charges
Loss on disposal of fixed assets
Interest received
Investment income
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash provided by operations		 2025
2024
£
£
396,792
416,285
166,650
168,304
347
75
(152,032)
(138,174)
(22,800)
(990,048)
751,173
(22,800)
(20,249)
(10,619)
150,082
392,822

23

2025

Sarum Hall School Trust Limited

Notes to the Financial Statements

For the Year Ended 31 August 2025

1. Accounting Policies

Basis of preparing the financial statements

The financial statements of the Sarum Hall School Trust Limited, the charitable company, have been prepared in accordance with 'Accounting and Reporting by Charities SORP practice applicable to charities preparing their accounts, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Governing Body have reviewed the forecasted financial performance, the reserves position, and cash flows. These forecasts are based on the primary assumption that there will continue to be challenging inflationary pressure on salaries and overheads, the introduction of Value Added Tax on school fees, and the loss of tax benefits associated with charitable status. Based on these forecasts, the charity will be able to meet all financial commitments as they become due. Therefore, it is appropriate for these financial statements to be prepared on the basis that the charity is a going concern.

Critical accounting judgements and key sources of estimation uncertainty

The Governing Body is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The charity estimates the useful lives of fixed assets based on the period over which the assets are expected to be available for use. The estimated lives are reviewed periodically and are updated if expectations differ from previous estimates. There is no change in estimated useful lives as of 31 August 2025.

Income

Tuition fees net of bursaries, are invoiced in advance of the term to which they relate. The income is recognized during the term period by income deferral system. Tuition fees are subject to VAT. Other incoming resources include grants and donations, investment income, interest received, and other miscellaneous income that are accounted for on a receivable basis. Rental income on our investment property is recognised on a straight-line basis over the lease term.

Expenditure

All expenditure is accounted for on an accrual basis. Expenditure includes attributable VAT some of which cannot be recovered. Costs of activities are directly allocated to the applicable category of charity expenditure. Governance costs include the non-charitable expenditure of running the charity including external audit, any legal advice for the Governing Body and the costs of complying with constitutional and statutory requirements and otherwise satisfying public accountability. Support costs are those costs which enable charitable activities to be undertaken. These include finance, office running, legal and governance costs.

Tangible fixed assets

Fixed assets are recorded at their historical cost. Expenditure on items below £250 is typically not capitalised. Although the buildings are maintained to a very high standard in order to extend their operational lifespan, the Governing Body believes that depreciation should be applied to reflect the actual cost of their utilisation. Depreciation on other assets is similarly provided to write off the cost of those assets less their estimated residual value based on prevailing market prices, in equal annual instalments over their estimated useful lives:

Investments

The investment property is valued at a fair market price. Current asset investments are held in the form of cash in fixed return Treasury Deposit Funds and other bank deposit accounts.

Unrestricted funds

The unrestricted reserve funds are a General Fund to provide working capital and to finance future capital development, to which any surplus during the year is generally allocated, a Premises Reserve Fund being the original cost of the freehold land and buildings and the Building Maintenance Fund specifically for the repairs and maintenance of the premises. Transfers into the later fund are made annually based on the fixed asset policy outlined above.

25

2025

Restricted funds

In previous years, a portion of surplus funds were transferred from the General Fund to the Bursary Fund. However, bursaries are now directly funded from the General Fund.

Pensions

The school participated in the Teachers’ Pension Scheme (TPS) for its teaching staff however the Governing Body agreed to exit the Teachers' Pension Scheme (‘TPS’) on 1 March 2024 and from that point contributions have been made into a new Aviva APTIS defined contribution scheme subsequently. Employers’ costs are charged in the period in which the salaries to which they relate are payable. Contributions paid in the year to AVIVA were £294,218. At the current and previous year end no amounts were accrued in respect of contributions to this scheme.

Other Pension Schemes

The school is contributing to a defined personal pension plan with Aviva for all other staff members. Employers’ costs are charged in the period in which the salaries to which they relate are payable. Contributions paid in the year were £46,624. At the current and previous year end no amounts were accrued in respect of contributions to this scheme.

Debtors

Fee income debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank

Cash at bank includes cash and short-term liquid investments with a maturity of 365 days or less.

Creditors

Creditors and provisions are recognised where the School has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably. They are recognised at settlement amount after allowing for any trade discounts.

Pupil Deposits

A deposit is collected in respect of each pupil joining the School. This may be used to cover outstanding fees and expenses on the departure of a pupil or retained in lieu of fees if the required notice period is not given.

2. Donations

2.Donations
Donations
3.Investment Income
Rent received
Deposit account interest
4.Income from Charitable Activities
Fees
Extra-curricular activities
Grants
Bursaries awarded
Other income
5.Investment Management Costs
Investment management costs		 2025
2024
£
£
12,138
2,868
2025
2024
£
£
22,800
22,800
152,032
138,174
174,832
160,974
2025
2024
£
£
3,762,563
3,509,193
89,960
118,735
-
31,428
(20,757)
(25,357)
11,129
42,774
3,842,895
3,676,773
2025
2024
£
£
7,428
6,745

26

2025

~~Sarum Hall School Trust Limited~~

Notes to the Financial Statements

6. Charitable Activities Costs

6.Charitable Activities Costs 6.Charitable Activities Costs
Charitable activities
7.Charitable Activities, Support Costs and Governance Costs
Staff & other
costs
2025
£
School operating costs
Teaching
2,421,265
Welfare
264,883
Premises
402,569
Support
370,278
3,458,995		 Direct costs
Support costs
Total
2025
2025
2025
£
£
£
3,255,367
370,278
3,625,645

Depreciation
Total
Total
2025
2025
2024
£
£
£
19,654
2,440,919
2,291,252
-
264,883
272,753
146,996
549,565
470,772
-
370,278
370,527
3,458,995 166,650
3,625,645
3,405,304

Included within support costs are governance costs totalling £106,642 (2024: £103,837). Included in governance costs is £8,800 (2024: £8,380) payable to the auditor for the statutory audit fees and £2,765 (2024: £2,635) for accountancy services.

8. Net Income / (Expenditure) is Stated after Charging

Depreciation
9.Staff Costs
Wages and salaries
Social security
Pension costs
The average number of staff in the year
Teachers
Administration
The number of employees’ benefits (excluding pension costs) exceeding £60,000 was:
£60,000 - £70,000
£70,000 - £80,000
£80,000 - £90,000
£90,000 - £100,000
£100,000 - £110,000		 2025
2024
£
£
166,650
168,304
2025
2024
£
£
1,980,632
1,873,114
227,008
200,809
339,325
290,039
2,546,965
2,363,962
2025
2024
31
32
6
5
37
37
2025
2024
4
6
4
2
2
2
-
-
1
1
11
11

The key management personnel, comprising the Headmistress, Deputy Head, and Bursar, received remuneration and benefits totaling £403,773 (2024: £370,015).

27

2025

Sarum Hall School Trust Limited

Notes to the Financial Statements

10. Tangible Fixed Assets

Cost
At 1 September 2024
Additions
Disposals
Reclassification
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
Eliminated on disposal
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024
11.Investment Property
Fair value
At 1 September 2024 and 31 August 2025
Net book value
At 1 September 2024 and 31 August 2025		 Freehold
property
Fixtures &
fittings
Fixtures &
fittings
restricted
Computer
equipment
£
£
£
£
5,733,147
1,560,030
19,964
298,904
-
2,396
-
36,758
-
-
-
(18,060)
1
-
(1)
-		 Total
£
7,612,045
39,154
(18,060)
-
5,733,148
1,562,426
19,963
317,602		 7,633,139
799,777
833,808
19,963
239,761
17,846
129,150
-
19,654
-
-
-
(17,713)		 1,893,309
166,650
(17,713)
817,623
962,958
19,963
241,702		 2,042,246
4,915,525
599,468
-
75,900		 5,590,893
4,933,370
726,222
1
59,143		 5,718,736
£
440,266
440,266

11. Investment Property

This investment property has been included in the accounts at cost which, in the opinion of the Directors, approximates to the market value of the property based on market information.

12. Debtors: Amounts Falling Due Within One Year

12.Debtors: Amounts Falling Due Within One Year
Trade debtors
Amounts due from parents
Prepayments
13.Current Asset Investment
Treasury and other deposits		 2025
2024
£
£
970,726
-
1,201
62,377
127,496
46,998
1,099,423
109,375
2025
2024
£
£
3,236,345
1,813,965

Current asset investments are cash funds held in fixed return Treasury Deposit accounts and other bank deposit accounts.

28

2025

Sarum Hall School Trust Limited

Notes to the Financial Statements

14. Creditors: Amounts Falling Due Within One Year

14.Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 193,419 168,232
Social security and other taxes 103,958 88,307
VAT 194,321 -
Other creditors 4,750 2,426
Enrolment deposits 75,461 104,385
Accruals and deferred income 1,286,476 675,705
Accrued expenses 19,181 19,885
1,877,566 1,058,940
Deferred income reflects tuition fees invoiced and paid in advance for the following year:
At 1 September 2024 675,705 740,218
Income released to Statement of Financial Activities (675,705) (740,218)
Income deferred 1,286,476 675,705
At 31 August 2025 1,286,476 675,705
15.Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Enrolment deposits 1 to 5 years 422,507 305,712
Enrolment deposits > 5 years 475,973 660,221
898,480 965,933

16. Movement in Funds in the Accounting Period

Unrestricted funds
General
Premises
Building maintenance
Restricted funds		 At 1
September
2024
Net
movement in
funds
Transfer
between
funds
At
31 August
2025
£
£
£
£
4,086,898
396,792
(56,969)
4,426,721
2,848,430
-
-
2,848,430
1,176,737
-
56,969
1,233,706
8,112,065
396,792
-
8,508,857
-
-
-
-
-
-
-
-
8,112,065
396,792
-
8,508,857

The General Fund serves as a reserve for free reserves, ensuring the availability of working capital and financing future capital development. The Premises Reserve is allocated to cover the costs of the land and buildings at 15 Eton Avenue. A two percent charge is levied on the original building costs to transfer funds from the General Fund to the Building Maintenance Fund. This reserve is specifically designated for the maintenance and development of the buildings.

29

2025

Sarum Hall School Trust Limited

Notes to the Financial Statements

17. Net Movement in Funds in the Accounting Period

Unrestricted fund
General
Restricted fund
Total funds
18.Statement of Financial Activities in the Last Accounting Period
Income and Endowments from
Donations
Charitable Activities
Charitable activities
Investment income
Total income
Expenditure from
Investment management costs
Charitable activities
Total expenditure
Net Income/(Expenditure)
Transfers between funds
Net Movement in Funds for the Year
Fund balances at start of year
Total Funds at End of the Year		 Incoming
fund
Resources
expended
Movement
in funds
£
£
£
4,029,865
(3,633,073)
396,792
-
-
-
-
-
-
4,029,865
(3,633,073)
396,792
Unrestricted
funds
Restricted
funds
Total funds
£
£
£
-
2,868
2,868
3,602,571
31,428
3,633,999
188,748
15,000
203,748
3,791,319
49,296
3,840,615
6,745
-
6,745
3,368,249
49,336
3,417,585
3,374,994
49,336
3,424,330
416,325
(40)
416,285
11,060
(11,060)
-
427,385
(11,100)
416,285
7,684,680
11,100
7,695,780
8,112,065
-
8,112,065

30

2025

Sarum Hall School Trust Limited

Notes to the Financial Statements

19. Movement in Funds in the Last Accounting Period

19.Movement in Funds in the Last Accounting Period
Unrestricted fund
General
Premises reserve
Building maintenance
Restricted fund
Bursary
Equipment appeal
Total funds		 At 1
September
2023
Net
movement in
funds
Transfer
between
funds
At
31 August
2024
£
£
£
£
3,716,482
416,325
(45,909)
4,086,898
2,848,430
-
-
2,848,430
1,119,768
-
56,969
1,176,737
7,684,680
416,325
11,060
8,112,065
11,060
-
(11,060)
-
40
(40)
-
-
11,100
(40)
(11,060)
-
7,695,780
416,285
-
8,112,065

20. Net Movement in Funds in the Last Accounting Period

20.Net Movement in Funds in the Last Accounting Period
Unrestricted fund
General
Restricted fund
Equipment appeal
Sarum Hall Parents Association
Learning support assistant
Total fund		 Incoming
fund
Resources
expended
Movement in
funds
£
£
£
3,791,319
(3,374,994)
416,325
-
(40)
(40)
2,868
(2,868)
-
46,428
(46,428)
-
49,296
(49,336)
(40)
3,840,615
(3,424,330)
416,285

21. Related Party Disclosure

No governors, nor any individuals associated with them, received any remuneration, benefits, or expenses. There were no related party transactions

31

2025 32

2025

REPORT OF THE INDEPENDENT AUDITORS

Independent Auditor’s Report to the Governors of Sarum Hall School Trust Limited

Opinion

We have audited the financial statements of Sarum Hall School Trust Limited (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months 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 other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

33

2025

Independent Auditor’s Report to the Governors of Sarum Hall School Trust Limited

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Governors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Governors

As explained more fully in the Statement of Governors' Responsibilities, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the 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 Governors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. Based on our discussions with the charitable company's management and the Governors, we identified that the following laws and regulations are significant to the entity:

Those laws and regulations considered to have a direct effect on the financial statements including UK Financial Reporting Standards and Charity Law, Health & Safety, employment and ISI/OFSTED legislation; and those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charity and therefore may have a material effect on the financial statements including compliance with the charitable objectives, public benefit, safeguarding and health and safety legislation.

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. These matters were discussed amongst the engagement team at the planning stage and the time remained alert to non-compliance throughout the audit.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: enquiries of management and the Governors as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Governor meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

34

2025

Independent Auditor’s Report to the Governors of Sarum Hall School Trust Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Skilton ACA (Senior Statutory Auditor) for and on behalf of Brewers Chartered Accountants

3 Birtley Courtyard Birtley Road Bramley GU5 0LA

Date:

35