2025-08-31-accounts - The Hall School Charitable Trust

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

COMPANY NUMBER: 00509427

CHARITY NUMBER: 312722

THE HALL SCHOOL CHARITABLE TRUST (A Company Limited by Guarantee)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

Contents	Page
Principal Address and Registered Office	1
Advisers	1
Governors, Directors, and Charity Trustees	2
Officers	3
Directors’ Report	4
Strategic Report	7
Financial Review	14
Statement of Accounting and Reporting Responsibilities	18
Independent Auditor’s Report	19
Statement of Financial Activities	22
Balance Sheet	23
Cashflow Statement	24
Notes to the Financial Statements	25

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2024

Principal Address and Registered Office

23 Crossfield Road, London, NW3 4NU www.hallschool.co.uk

Advisers

Auditor

Crowe U.K. LLP, 55 Ludgate Hill, London, EC4M 7JW

Bankers

Barclays Bank PLC, St. John’s Wood

Lawyers

Farrer & Co, 66 Lincoln's Inn Fields, London WC2A 3LH Goodyear Blackie Herrington, 7/8 Innovation Place, Douglas Drive, Godalming, GU7 1JX

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2024

Governors, Directors, and Charity Trustees

The Governors of the Hall School Charitable Trust, known as the Hall School, (“the School”) are the School’s Charity Trustees under charity law and the Directors of the charitable company under company law. During the year the activities of the Governing Body were carried out through 3 committees. The members of the Governing Body who served in office during the year and subsequently are detailed below, as are the memberships of the various committees.

GOVERNORS			RESPONSIBILITIES	RESPONSIBILITIES	RESPONSIBILITIES
		1	2	3	4	5
Mr A Fobel	Retired as Chairman/Director/Trustee o
	on 31 August 2025	x	x	x	x
Mr P Mason	Chairman from 1 September 2025 (Vice Chair to 31 August 2025)	x	x	x	x
Mr M Abbas	Vice Chair from 1 September 2025	x	x	x		x
Mr T Aidonis		x			x
Mrs V Bingham		x		x
Mr L Florentin-Lee		x			x
Miss S Goodall		x
Mrs SA Huang		x
Mr H Lonberg		x	x
Mrs M Morris		x	x
Mr A Payne		x		x		x
(1) Full Board and Strategic Planning
(2) Finance and General Purpose Committee
(3) Pupil Welfare and Pastoral Committee
(4) Co-Curricular Committee
(5) Parent of pupil at the School in 2024-25

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2024

Officers

The Officers of the School who served in office during the year and subsequently are detailed below.

Dr Willem Steyn	Interim Headmaster from 28th March 2025
Mr C F Rycroft	Headmaster from 1 September 2024 to 28 March 2025
Mrs V Patel	Director of Finance and Clerk to the Governors
Mr R Bates	Director of Operations

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

The members of The Hall School Governing Body present their Annual Trustees’ Report for the year ended 31 August 2025 under the Charities Act 2011 and the Companies Act 2006, (including the Directors’ Report and Strategic Report under the 2006 Act), together with the audited financial statements for the year.

DIRECTORS’ REPORT

CONSTITUTION AND OBJECTS

The Hall School Charitable Trust was founded in 1889. It is constituted as a company limited by guarantee registered in England under Company number 00509427 and is registered with the Charity Commission under Charity number 312722. The School is governed by its Memorandum of Association and Articles of Association, last amended on 19 June 2018.

The School’s Objects, as set out in the Memorandum of Association, are: to promote the cause of education and to provide for the training and instruction of pupils in every branch of learning, in citizenship, in outdoor pursuits and in the arts and crafts of all kinds, and on the basis of Christian principles to provide the pupils with spiritual, moral, mental and physical training.

In furtherance of these Objects for the public benefit, the School has established and administers bursaries, grants, awards and other benefactions, and acts as the trustee and manager of property, endowments, bequests and gifts given or established in pursuance of these Objects.

CHARITY GOVERNANCE CODE

The Articles of Association were subject to a full review during 2018 and a revised version compliant with the Companies Act 2006 and the Charities Act 2011 was approved by the Governors by a written resolution on 19th June 2018 and accepted by Companies House on 5th July 2018. As a supplement to the revised Articles and subsequent to an external review, the School Governance Policy was also updated to reflect the changing governance environment.

The Governing Body takes its governance responsibilities seriously and aims to have a governance framework that is fit for purpose, compliant and efficient. The Board has established a solid foundation in governance in which all of its trustees are clear about their roles and legal responsibilities, are committed to supporting The Hall to deliver its Objects most effectively for its beneficiaries’ benefit and contribute to The Hall’s continued improvement.

Overall the Governing Body is aware of and meets a very significant proportion of the recommended and best practice principles for governance contained within the Charity Governance Code across the seven areas and are comfortable there are no significant areas of review required. Arrangements will continue to be monitored against the best practice principles contained within the Code.

PRIMARY OBJECTIVES

The School’s primary objectives are:

To provide a broad, high calibre education for boys aged 4 to 13, which will prepare all pupils as well as possible for their future schools and life beyond, with the aim that all boys win places at the senior school for which they apply. This includes providing a strong spiritual and moral education for boys from all denominations and faith backgrounds
To foster a happy, secure and energetic community in which every individual (child and adult) can thrive, and to promote an exciting and stimulating academic environment which will foster a life-long love of learning for every pupil

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

To provide a supportive pastoral environment in which pupils can learn to live together and thus foster a sense of community, respect for one other and good citizenship
To develop and encourage the boys’ abilities in sports, music, drama, technology and other co-curricular activities in order to develop positively all aspects of their character
To value and nurture pupils as individuals, giving them a sense of their own self-worth and of the value of service to others, thus preparing them for life beyond school
To provide pupils with the opportunity to take decisions based on their own judgment and to communicate those decisions appropriately and effectively
To provide financial support to enable children whose parents are unable to afford the full fees to benefit from an independent education
To provide a clear, simple and effective management structure capable of taking timely decisions and allocating necessary resources appropriately
To provide the necessary administrative and logistical framework to meet the needs of members of staff and pupils alike

The Board is mindful of the long-standing need to provide public benefit and of the requirements of the Charities Act 2011. In this connection the Board has monitored closely the guidance on public benefit produced by the Charity Commission together with its guidance on fee-charging.

GOVERNING BODY

There is one Governing Body and details of the members of the Governing Body, together with the School’s officers and principal advisers, are given on pages 1 to 3. The Governing Body is selfappointing and Governors, who are all unremunerated, are selected to offer a wide range of expertise to the School. Educational expertise is paramount and other professional skills augment this. Among the specialisms that the individual Governors possess are proficiency in and knowledge of the law, accountancy, broader finance, property, public relations, and medicine so that all aspects of the school’s management and welfare are covered.

The individual Governors’ skills are exploited by their involvement with particular aspects of the School’s operations and the staff responsible for them, for example a financial expert always chairs the Finance and General Purposes Committee, as well as working closely with the Director of Finance, and those with educational expertise lead on matters of academic policy and liaise with members of the Senior Leadership Team (SLT).

In accordance with the updated Articles of Association and revised Governance Policy performance reviews of each Governor will be carried out annually by the Chair. The Vice Chair will carry out an annual performance review of the Chair in consultation with the other Governors.

Nomination of new members

If retirement or resignation of a Governor causes a gap in the professional expertise of the Governing body, a nominations committee will meet to ensure that a suitable replacement is found. The nominations committee will be selected by the Chairman and will actively recruit a suitable candidate for the Board. The committee will make a recommendation to the full Board and, if the recommendation is accepted, an invitation will be issued to the candidate. No appointment can be ratified until all satisfactory checks, including DBS (disclosure baring service) have been successfully completed.

Retirement age and length of service

There is no fixed retirement age for Governors, and the maximum period of service is nine years with each Governor requiring to be reappointed every three years. However, Governors may be asked to stay on the Board beyond nine years at the request of the full Board. In such circumstances, service will continue subject to annual review by the Board.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

Recruitment and training of Governors

New Governors are inducted into the workings of the School, including Governing Body policy and procedures, at an induction workshop specially organised for them by the Head and Director of Finance. New Governors also attend specialist external courses on the role and responsibilities of charity trustees, including appropriate training on Safeguarding. All Governors are encouraged to visit the School during the term and to gain first-hand experience of the School’s working day and of the learning and teaching process through schemes such as shadowing a boy or talking to staff or small groups of staff in depth.

Members of the Governing Body attend external trustee training and information courses designed to keep them informed and updated on current issues in the sector and the regulatory requirements, and the School also organises internal training sessions as required. The School is registered with the Association of Governing Bodies of Independent Schools (AGBIS) which provides regular training opportunities and advice on governance matters.

Related parties

None of the Governors receive remuneration or other benefit from their work with the charity. Any contractual relationship must be disclosed, and any potential conflicts of interest are retained in written form.

During the 2024-25 financial year, two Governors had children who were pupils at the School (202324: four). School fees paid were at the same rate and on the same terms as for all other parents of pupils at the School.

As a Company limited by guarantee, the School has set up a Register of Persons with Significant Control. The Company has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to the Company.

Organisational management

The members of the Governing Body, as the charity trustees, are legally responsible for the overall management and control of the School. The Full Board meets at least three times a year and there is an additional annual Governors’ meeting, attended by all Governors, which considers strategic educational matters and the School’s Development Plan. The work of implementing the Governing Body’s policies is carried out by three sub-committees:

The Finance and General Purpose Committee scrutinises the budget, revenue, costs, cash flow and capital expenditure. This Committee also supervises the preparation of the audited financial statements and Annual Report for approval by the Governing Body. The Finance and General Purpose Committee is chaired by Louis Florentin-Lee (previously Peter Mason to 31.12.24) and meets at least three times per year.
The Pupil Welfare and Pastoral Committee meets annually and is responsible for auditing the School’s welfare provision. It is available at all times to investigate reports on any welfare issues.
The Co-Curricular Committee meets annually and is responsible for auditing the quality of provision and achievement in co- curricular activities and their contribution to pupils’ personal development.

Public Benefit is considered annually with the Headmaster’s Report under an agenda item at the Full Governors Meeting each autumn.

The day-to-day running of the School is delegated to the interim Headmaster Dr Willem Steyn, supported by the Senior Leadership Team (SLT), totaling nine members from 29 March 2025, ten members to 28 March 2025 (eight to 31 August 2024). The interim Headmaster and Director of Finance attend all meetings of the Governing Body’s Committees, and other members of the SLT attend for relevant areas of expertise.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

The School supports actively the attainment of the highest standards of education through rigorous and continuous evaluation of quality and performance, the application of best practice and a widespread desire to improve standards. The School cooperates with local charities and educational bodies in its endeavours to widen public access to the schooling provided at The Hall, to optimise the use of its cultural and sporting facilities, to utilise the specialist subject knowledge of the staff and to awaken in its pupils an awareness of the social context of the all-round education they receive.

Remuneration Policy

Remuneration for the SLT (deemed the School’s key management personnel) is reviewed annually by the Chair of the Finance and General Purpose Committee and the Headmaster, with the Headmaster’s remuneration being set by the Chair of Governors and the Chair of the Finance and General Purpose Committee. Performance in the year is taken into account, together with any market changes, and other pertinent factors.

STRATEGIC REPORT

MISSION STATEMENT

The School’s mission is to promote the cause of education and to provide for the training and instruction of pupils in every branch of learning, in citizenship, in outdoor pursuits and in the arts and crafts of all kinds, and to provide the pupils with spiritual, moral, mental, and physical development.

STRATEGIES TO ACHIEVE THE PRIMARY OBJECTIVES

The Hall is a selective school, and applications outstrip places available, currently by approximately 4. The Hall continues to be a selective school with a strong demand for places including into the future. The School aims to have 60 pupils joining the Reception year group from September 2026. In addition, the School runs an occasional places list for entry in other year groups as and when places become available. The School will continue to aim to take a number of pupils at 11+.

The academic profile of the pupils at The Hall is well above the national average and this is reflected in the data from a range of standardised tests that are used throughout the school. Most boys are aiming for academically selective senior schools, and the School’s aim is that all pupils secure places at a senior school which is most appropriate for their needs. The School aims to provide a broad, high calibre education which will prepare all pupils as well as possible for their future schools and life beyond, including providing a strong spiritual and moral education.in the broadest sense.

As detailed in the Public Benefit section the School continues to seek suitable bursary applicants who will benefit from the School’s unique educational experience. The School seeks to have ten fully funded bursary holders in the school each year as outlined in the Bursary Policy with entry at Year 4. Occasionally pupils join Year 7 on a bursary place. The is subject to the level of resources available.

As an educational charity, the purpose is to remain true to the School’s aims but also to generate a minimum of annual unrestricted financial surplus (prior to depreciation, of approximately 10% of operating net fee income), for reinvestment in the School in order to develop its facilities and enhance and improve the quality of education. The intention is to keep school fees at a level which allows an excellent all-round education, generates the required surplus, but also takes account the range of the economic pressures that schools in the independent sector face.

There has been continued emphasis on the development of the estate with a focus on the Senior School building following improvements in the Junior School as well as the Wilf Slack Playing Fields.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

The Senior School Project which included the construction of a new classroom block along with the repurposing, and extensive refurbishment of the existing building was completed toward the end of Summer term 2024. However, other minor improvements have taken place in the year to 31 August 2024.

Employment policy

The School is an equal opportunities employer. Full and fair consideration is given to job applications from disabled persons and due consideration is given to their training and employment needs. Consultation with employees, or their representatives, has continued at all levels with the aim of taking the views of employees into account when decisions are made that are likely to affect their interests. Employees are made aware of the financial and economic performance of the School.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

THE HALL SCHOOL ENDOWMENT FUND (‘The Trust’) AND FUNDRAISING

This Trust, established in 1980 under a separate charitable trust deed, has been amalgamated, as a linked charity, into the main School accounts, on the basis of common control. The current Trustees are three Governors: Peter Mason, Louis Floretin-Lee and Mustafa Abbas who was appointed on the 1 September 2025. Anthnoy Fobel retired/resigned on the 31 August 2025.

The Trust manages a number of restricted funds for bursaries and capital developments.

Bursaries

Providing bursaries at The Hall is an important part of the ethos of the School, using a mix of the operational budget and specific donations to fund the bursary programme. However, the School does not have a large endowment and in funding our awards we have to be mindful that we must ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their child's education, and those benefiting from the awards. The stated aim of the bursary programme is to offer fully funded places for 10 boys subject to the level of resources available.

In total 5 boys were supported with a bursary in 2024-25 (2023-24: 5), of which 5 (2023-24:4) were full fee bursaries funded through donations to the Trust.

The Godwin Fund

The Godwin Fund appeal was launched in the year where current parents, former parents and alumni could make a donation to the School upon Mr and Dr Godwin’s retirement. The Godwin Fund is ‘unrestricted’, to be used by The Trustees of The Hall School Endowment Fund as they see fit, whether on further physical development of the school or indeed, towards the school’s Bursary programme. Over £45k was received in the year to 31 August 2025. In total, just over £81.5k have been raised.

Fundraising

Fundraising is undertaken by the School, the costs of which are met by the School rather than taken from the money donated. No professional fundraising organisations are used and so no monitoring processes are required. The School is formally registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice when undertaking fundraising activity. There have been no complaints in the period regarding inappropriate or intrusive contact, including from vulnerable individuals.

The School has three main fundraising initiatives:

The Annual Campaign where leavers are invited to donate their registration deposits to the School for any purpose which they choose.
Bursary fundraising to achieve a target of ten fully funded places.
The Wathen Society for those who have remembered the School in their Wills

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

ACHIEVEMENTS AND PERFORMANCE

This year there were 474 boys on average in the school with the focus continuing to be on entry to Reception as the main entry point to the School. In many respects it can be described as a normal year with a full range of activities and opportunities for the pupils.

2024/25 proved to be a highly successful year on many fronts. An able and committed Year 8 achieved a great deal with places secured at the following senior schools:

Bedford School (1), The British School of Barcelona (1) City of London (2), Dulwich College (1) Eton College (4), Haberdashers' Boys'– Elstree (4), Highgate (1), Merchant Taylors’ (3), Mill Hill (6), Radley College (2), Sevenoaks (1), St Paul’s (8), Tonbridge (2), UCS (2), Westminster (16), and Winchester (2). Five academic, five music, two sport and one design & technology scholarships were awarded.

Through the use of variety of standardised assessment data once again indicated the high overall academic ability of the pupils in the School and the excellent levels of achievement in relation to national standards. The School again secured excellent and record-breaking results in both in Primary and Junior Maths Challenges. In the case of the latter a record number of pupils went to the final Olympiad round.

The annual activity week in June saw all year groups taking part in a very broad range of day and residential trips. Overseas trips included a Classics trip to Greece, a Pilgrimage trip to Santiago de Compostela, a Ski trip to Italy, a Music Trip to Normandy, a French Language trip to Burgundy, a Football trip to Portugal and a Geography fieldtrip to Iceland.

A full and broad music provision was once again very evident with high standards of individual and group music taking place. Once again, the highlight of the year was the Gala Concert for pupils from Year 3 upwards at the Cadogan Hall. The year was rounded off with a very special concert for the Year 8 music scholars at Burgh House in Hampstead while the jazz groups performed in a concert at Pizza Express Jazz Club in Soho. The chapel choir also sang evensong at a number of events including St Paul’s Cathedral.

Developing on from last year, LAMDA exams for pupils in the Senior School have been successful and expanded. The end of year production of ‘The Curious Incident of the Dog in the Night-Time ’ was both highly innovative and very well received.

Sport continues to play a significant role in the pupils’ education at The Hall. Football continues to be a significant strength, with all pupils from Year 4 upwards having the chance to represent the school in competitive fixtures. Cricket has also proved to be successful this year.

The school continues to provide an excellent academic and pastoral provision. Learning walks that enables sharing of best practice is playing an important part in standardising our provision catered towards all our students.

Sustainability

Student participation in initiatives and awards continues to be very positive with high levels of engagement within the Eco Committee. This year they have looked at subjects including energy, global citizenship, waste management and transportation, which included taking part in the Camden Bike Bus and green transport days. Findings and recommendations reported back to ensure that as a school we continue to think strategically about sustainability, whilst balancing reduction in carbon with financial sustainability.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

In the Junior School, at the end of the summer an enhanced Junior School garden was created with new planters with donation from the HSPA. In addition, the School has improved the green space outside the Senior School and the reception buildings.

The Senior School development which was completed in the last academic year to 31 August 2024. The development included sustainability within its designs to support sustainability. The living wall and roof provides much need biodiversity, and improved insulation to the Senior School. As part of the development Air source heat pumps and Solar PV arrays had been installed alongside more efficient heating systems, LED lighting and motion sensor lighting in tandem with a building management system to centrally control heat usage.

Over the summer, work has continued to transition from fluorescent tube lighting to LED lighting and passive infrared sensors (PIR) in all buildings to allow less wastage of electricity. Works are planned for the removal of the halogen spotlights outside the front of the Senior School with LED replacements. Plans are also in place to create a new scooter park out ide the Senior School.

PUBLIC BENEFIT

Bursaries

The Governors view our bursary awards as important in helping to ensure boys from families who would otherwise not be able to afford the fees can access the education we offer. Our bursary awards are available to all who meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil's education and future prospects would otherwise be at risk.

The Governors view our bursary awards as important in widening access to the education our School provides. The School continues to develop and build on links established within the local school network to ensure a positive contribution to shared educational aims.

Bursaries are now predominantly offered to boys entering Year 4, to encourage families to consider the School at an earlier age in order that their sons have time to adjust to the different examination system within the independent school system. In total 5 boys were supported with a bursary (partial or full) in 2023-24 (2023-24: 5). Hardship awards totalled £10,068 (2023-24: £3,246). Other bursary related costs totalled £5,384 (2023-24: £7,560).

Partnership Work

Community Partnerships Manager (CPM)

The Community Partnerships Manager (CPM) works part-time (3.5 days per week), with one day embedded within a partnership school. This model continues to strengthen relationships with pupils, staff, and leadership teams, and supports recruitment for the Saturday Club and other enrichment initiatives.

Saturday Club

Saturday Club supports high-potential Year 5 pupils from partner state schools, offering free academic and creative enrichment across 13 Saturday sessions. Pupils are nominated by their headteachers and attend sessions at The Hall, led by Hall teachers using school facilities. The curriculum focuses on English, Maths, Science, History, Oracy, Music, and Creative Arts, with an emphasis on collaboration, confidence, and independent thinking. Parents also receive guidance on secondary school transitions and applications.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

Partner schools include: Fitzjohn’s, Christ Church, Rosary Catholic, Edith Neville, Richard Cobden, and The Winch (including referrals from Holy Trinity Primary).

2024–2025 Highlights

Subjects: Oracy, Maths, Music, Science, History, Debate, Creative Arts
Specialist Teaching: Hall teachers and external professionals
Photography: Von Herkomer Charity – culminating in an exhibition at HVH Arts
Awards: STEM, Arts, and Skills Builder
Parental Support: 25 parents attended two guidance sessions
Outcomes: Two pupils applied to independent schools with academic support from Hall teachers

Year 6 Enterprise Challenge

Five Autumn Term sessions culminated in a ‘Final Pitch’ event in December 2024. Support included mentorship from a returning Saturday Club alumnus and a Hall graduate volunteer. The project provided leadership, teamwork, and presentation skills development.

Looking Ahead 2025–2026

Saturday Club continues to grow as a flagship outreach programme. In 2025–2026, Rhyl Primary joins as the sixth partnership school with eight new Year 5 pupils. New initiatives include:

Sports Leadership Programme (Spring 2026)
Interview Skills Workshop (Autumn 2025)
Art Therapy sessions via HVH Arts
Cross-departmental involvement and newsletters for families
Continued collaboration with Von Herkomer and HVH Arts exhibitions
11+ tutoring and enrichment opportunities for older pupils

Community Partnerships Programme 2024–2025

The CPM delivered weekly teaching and coordination across five Camden primaries, promoting literacy, drama, debate, and creative learning. Parent volunteers supported reading and maths, and Hall teachers delivered MFL (French) in multiple schools.

Key outcomes included over 300 hours of direct teaching and engagement through drama, art, debate, and French enrichment. Each school benefitted from targeted sessions such as drama workshops, debate training, reading competitions, and cross-curricular enrichment events hosted at The Hall.

Highlights by School

Richard Cobden Primary – 76 hours Drama, Reading Competition finalist events
Edith Neville – 28 hours Drama, 80 hours French, Reading and Maths support
Christ Church – 80 hours French, 12 hours Drama, Art curriculum planning
Fitzjohn’s – Debate Enrichment, Eco Committee projects, Give Back Days
Rosary RC – Specialist Art Workshop, Debate Enrichment, trainee teacher placement

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

Community Events & Enrichment 2024–2025

The Hall hosted and managed over 20 major events, including Reading and Debate competitions, Arts enrichment projects, and Give Back Days. Over 1,200 pupils participated across schools, alongside Hall staff, parents, and visiting students from the Royal Central School of Speech and Drama.

Key highlights included:

Rainforest Cross-Curricular Workshop
Rugby and Cricket Learn & Play Days
Annual Reading Competition involving 585 students
Clay Art Clubs at The Winch (18 sessions)
Boules et Baguettes French Morning
Community Choir Performances at care homes

Partnership with The Winch

The Hall continues to provide significant educational and logistical support to The Winch, including afterschool art clubs (36 hours), transport, facilities, and mentoring for young people. Ten pupils joined the Von Herkomer holiday scheme, and Hall parents funded football kits for The Winch teams.

Community Give Back and Governance

Senior and Junior boys regularly visited local care homes to perform music and share time with residents. Year 3–8 pupils also raised funds for the Royal Free Hospital. The CPM serves as a Governor at Christ Church Primary, deepening long-term partnerships.

Charitable Fundraising

The Hall community (pupils, staff, and parents) raised funds through cake sales, performances, and competitions for The Winch and St John’s Hospice. Future goals include expanding cross-school collaboration and CPD opportunities. The students also raise funds in their house groups where by these funds are directly donated to various Charities through fundraising sites such as JustGiving.

Future Initiatives 2025–2026

Two joint French enrichment events including a French Theatre visit
Eco Committee collaborations with three schools
Teacher training placement at Rosary School
Debate and Reading enrichment with Hall Year 7 librarians
RCSSD theatre workshops across partnership schools
Four American School placement students in 2026
Expanded French curriculum support reaching 240+ pupils
Rhyl School Raising Aspirations Project with Year 8 mentors
Parent Speaker and Aspirations Days
Year 8 Head Boys leading enrichment welcomes during 2026 Activity Week

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW

Results for the year

The School’s main income is from fees. Income for the year totalled of £12,743k (2024: £14,223) and expenditure totalled £11,540k (2024: £11,742k). Net income for the year amounted to £1,246k (2024: £2,494k) of which net income/expenditure £1,246k (2024: net income of £1,788k) is related to the Endowment Fund.

A total of £251k has been invested in capital projects (2024: £6,044k). A further £124k has been capitalised (2024: £193k) on upgrading the School’s facilities and equipment. Current assets total £12,012k compared to £8,403k a year ago. This is due to fee bills relating to Autumn term being raised in July 2024. This balance includes fee receipts received in advance and deposits. Current assets include £327k held in the Endowment Fund (2024: £380k) and £50k held in in Restricted Funds (2024:£63k). Liabilities total £8,358k (2024: £6,484k) including £3,695k of deferred income (2024: £1,452k), £1,745k of Advance Fee Fund/Scheme monies (2024: £3,040k) and £859k of tuition deposits (2024: £817k) as well as £617k loan left taken to fund the Senior School Project.

Letting of School facilities total £25k (2024: £16k) which is low compared to £99k in 2019. As at 31 August £22.7k net of VAT is still due to be received. With the development the Senior School site completed by 31 August 2024, the aim is increase lettings income back to previous levels. £285k (2024: £310k) was received primarily mainly through additional charges for pupil trips.

Donations of £93k (2024: £1,849k) were received by the Endowment Fund.

Reserves level and going concern

The Governors regularly review the level and nature of the reserve funds of the School. The Governors have invested substantial sums, generated from operating surpluses, in school buildings, sports grounds and the overall educational provision.

Analysis of Total Reserves at 31[st] August:

Analysis of Total Reserves at 31st August:
	2025	2024
	£	£
Unrestricted Funds:
General Funds (including net book value of fixed assets)	16,306,734	17,038,100
Designated Funds	2,518,007	518,007
	---------------------	---------------------
	18,824,741	17,556,107
Endowment Funds	429,993	470,837
Restricted Funds	50,056	62,819
	---------------------	---------------------
Total Funds	19,304,790	18,089,763
	===========	===========

Unrestricted funds include designated funds as at 31 August 2025 amounting to £2,518,007 (2024: £518,007). Restricted funds as at 31 August 2025 amounted to £50,056 (2024: £69,819). The Endowment Fund is restricted by virtue of its being a charity linked to The Hall School Charitable Trust. The assets of the Endowment Fund as at 31 August 2025 amounted to £429,993 (2024: £470,837). Further details of these funds can be found in Notes 12 and 13.

The Governors recognise the need for free reserves to generate funds to provide continued investment in the School and the management of risks and contingencies. The School’s long-term aim is to build free reserves of between £3.5m to £4m which is approximately 1 term’s total expenditure which will then be the aim that it will be maintained, separately from the school’s working capital, to ensure the

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

school can continue to pay salaries and creditors for 4 months with no additional income. This does not stop the School pursuing other projects that may reduce the level of free reserves. As at 31 August 2025, the unrestricted funds of The Hall totalled £18,824,741 (2024: £17,556,107). Free reserves which are calculated as the difference between the balance on the unrestricted funds less the net book value of operational fixed assets and designated funds, amounted to a positive balance of £1,376k (once the loan is added back) at 31 August 2024 (2024: £1,583k).

Surpluses a reinvested into the school both in educational and infrastructure.

With respect to financial viability and going concern, the Governors continually assess the financial resilience of the School through close monitoring of the school’s finances during the year, the stable cash flow from student enrolment and the availability of external financing facilities that would provide an adequate safety net in the event of adverse operating conditions. The impact of additional costs to ensure the school is operating in a safe environment for both staff and students, improvements to the School’s infrastructure, loss of business rate reliefs, has been embedded in the School’s budget and cashflows. As such, the Governors are satisfied that the School has adequate resources to continue to operate for the foreseeable future. For this reason, they continue to adopt the going concern basis for preparing these financial statements.

Investment Policy

The Finance and General-Purpose Committee carried out a review of the School's investment strategy a few years ago. It was decided to hold any excess funds in low risk cash investments which are accessible at short notice.

RISK MANAGEMENT

The Governing Body has ultimate responsibility for managing any risks faced by the School and the matter is given careful consideration by the full board. The risk management process and the resulting report identifies risks, assesses their impact and likelihood and, where necessary, recommends controls to mitigate and monitor those risks that are assessed as high. The generic controls used by the School to minimise risk include:

detailed terms of reference together with formal agendas for Committee and Board activity
formal strategic development planning, reviewed annually by the Senior Leadership Team
comprehensive budgeting and management accounting
established organisational structures and lines of reporting
formal written policies including clear authorisation and approval levels
safeguarding and vetting procedures as required by law for the protection of the vulnerable

Principal risks and uncertainties

The Governors and the Senior Leadership Team have carefully assessed the major risks to which the charity is exposed and are satisfied that appropriate systems are in place to mitigate these risks. Ultimately, the Governors are responsible for risk management.

Risk management is embedded in all decision-making processes, with consideration given to both immediate impacts and long-term implications. While these systems provide reasonable assurance, it is acknowledged that they cannot offer absolute certainty that all major risks have been adequately managed.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

To support ongoing oversight, a comprehensive risk register is maintained to identify and monitor each risk. Regular reports are provided to the Governors on a termly basis by the Headmaster and the Director of Finance.

Key Risk Areas and Strategic Focus

Throughout the year, the Governors and Senior Leadership Team have engaged in regular discussions focused on the following key areas:

Enhancing and maintaining the current educational provision
Safeguarding and pastoral care
Health and Safety.
The removal of business rate relief from April 2025 and its financial impact
The introduction of VAT on school fees and its effect on affordability
Ongoing improvements to the school’s estate
Potential financial pressures from future increases in Teachers’ Pension Scheme contributions
Cyber security and data protection

In response to these challenges, the School has actively reviewed and updated its business model to mitigate financial risks, despite many of these being outside its direct control. Inflationary and broader economic factors, which have led to significant cost increases, are also recognised as risks, and strategic planning is undertaken accordingly.

Safeguarding and Pastoral Care

Safeguarding and pastoral care remain top priorities and key risk areas. The School has robust systems and procedures in place to mitigate these risks. All staff receive induction and regular refresher training in fire safety, safeguarding, and first aid. An external safeguarding review is conducted annually, and the School continues to work with experts to evolve its provision. These audits are planned on a rotational basis to ensure comprehensive coverage. Risk assessments are completed diligently, with the overarching aim of maintaining the highest standards of safeguarding, pastoral, and educational provision.

Health and Safety

The Governing Body is satisfied that appropriate health and safety controls and operational policies are in place and are regularly maintained to mitigate risks effectively.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

Future Plans

The priorities for the period 2025 – 26 are outlined below:

1. Learning and Teaching

Continue to ensure all teachers planning and delivery takes account of information provided in IEPS
Continue to develop teachers understanding of how pupils learn (the brain, cognitive load theory, retrieval practice, value of modelling/examples)
Continue to develop a whole school approach to the use of AI and taking to account any risks associated.
Continue to embed cross-curricular approaches to teaching and learning

2. Pupil Welfare

Continue to foster a consistent, whole school approach to wellbeing.
Embed and develop appropriate Systems of Pastoral Support across the school.
Establish systems to monitor impact of universal and targeted wellbeing approaches and pupil interventions.
Plan to employ a full time School Counsellor and Mentor
Continue to promote opportunities for development of Pupil Voice

3. People

Continue to develop the sharing of best practice
CPD programme for Middle Leaders –develop and embed planned internal provision that enables these roles to be fulfilled successfully
Embed the programme of CPD that develops staff digital acuity and mastery

4. Facilities and Resources

Aim to achieve a minimum annual unrestricted operating surplus excluding depreciation of 10% of net fee income
To continue to embed a culture of cost control and new revenue generation thorough out the school.
Develop and implement the maintenance and refurbishment plan over a 5 year period to ensure the development of the buildings and facilities.
Continue to develop the business systems in several support areas to promote efficiency and the availability of updated information.

5. Community Programme

Continue to provide Science teaching and training for Science Leads in partnership schools.
Continue to support partnership schools with subject specialist provision
Provide further opportunities for pupils in Y8 to lead various activities in relation to the partnership schools.
Continue the provision of The Saturday School for local partnership schools with more pupils attending.
Develop strong links with local girls’ schools to foster inclusivity and respect across all genders.

THE HALL SCHOOL CHARITABLE TRUST ANNUAL REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES

The members of the Governing Body are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the members of the Governing Body to prepare financial statements for each financial year. Under company law the Governing Body members 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 Governing Body members are required to:

select the most suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The members of the Governing Body are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. 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.

Insofar as each of the Directors, as members of the Governing Body, at the date of approval of this report is aware there is no relevant audit information (information needed by the charity’s auditor in connection with preparing the audit report) of which the Company’s auditor is unaware. Each member of the Governing Body has taken all the steps that he or she should have taken as a member of the Governing Body in order to make himself or herself aware of the relevant audit information and to establish that the Company’s auditor is aware of that information.

This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Governing Body of The Hall School Charitable Trust on the 4[th] December 2025, including in their capacity as company directors approving the Strategic Report contained therein, and is signed as authorised on its behalf by:

…………………………………..

Peter Mason Chair of the Governing Body

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HALL SCHOOL CHARITABLE TRUST

FOR THE YEAR ENDED 31 AUGUST 2025

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HALL SCHOOL CHARITABLE TRUST

Opinion

We have audited the financial statements of The Hall School Charitable Trust (‘the charitable company’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including 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:

give a true and fair view of the state of the charitable company’s affairs as at 31 August 2025 and of its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HALL SCHOOL CHARITABLE TRUST

FOR THE YEAR ENDED 31 AUGUST 2025

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.

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

adequate and proper accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 19, the trustees (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 trustees 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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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 auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HALL SCHOOL CHARITABLE TRUST

FOR THE YEAR ENDED 31 AUGUST 2025

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and taxation legislation, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent School Standards) Regulations 2014, health and safety legislation and employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Finance and General Purpose Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Independent Schools Inspectorate, Ofsted and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

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

………………………………

Jayne Rowe Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor Date: 16 December 2025

THE HALL SCHOOL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating an Income and Expenditure Account)

FOR THE YEAR ENDED 31 AUGUST 2025

Notes Income and endowments from: Voluntary income – donations & legacies Charitable activities School fees receivable 3a Other educational income 3b Grants Other trading activities 4a Investment income Total income Expenditure on: Raising funds 5 Charitable activities & grant making 5 Total expenditure Net income/(expenditure) before gains/(losses) on investments Net gains/(losses) on investments Net income/(expenditure) Transfer between funds 12 Net movement in funds Reconciliation of funds: Total funds brought forward 12 Total funds carried forward 12	Unrestricted Funds 2025 £ - 11,801,174 525,870 54,050 282,197 12,663,291 46,354 11,352,721 11,399,075 1,264,216 ___ 1,264,216 4,418 1,268,634 17,556,107 18,824,741 ==============	Restricted Funds 2025 £ 3,800 - - 7,200 - - 11,000 - 23,807 23,807 (12,807) ________ (12,807) 44 (12,763) 62,819 50,056 ============	Endowment Funds 2025 £ 61,156 - - - 7,127 68,283 - 116,754 116,754 (48,471) 12,089 ___ (36,382) (4,462) (40,844) 470,837 429,993 ==============	*Total* Funds 2025 £ 64,956 11,801,174 525,870 7,200 54,050 289,324 12,742,574 46,354 11,493,282 11,539,636 1,202,938 12,089 _______ 1,215,027 - 1,215,027 18,089,763 19,304,790 ============	*Unrestricted* *Funds* *2024* £ - 11,362,074 585,086 - 42,575 306,560 12,296,295 58,030 11,565,941 11,623,971 672,324 - ___ 672,324 3,278,029 3,950,353 13,605,754 17,556,107 ==============	*Restricted* *Funds* *2024* £ 53,114 - - 10,200 - - 63,314 - 29,252 29,252 34,062 - ___ 34,062_ (23,029) 11,033 51,786 62,819 ==========	*Endowment* *Funds* *2024* £ 1,848,930 - - - - 14,355 1,863,285 - 89,014 89,014 1,774,271 13,500 ___ 1,787,771 (3,255,000) (1,467,229) 1,938,066 470,837 ============	*Total* *Funds* *2024* £ 1,902,044 11,362,074 585,086 10,200 42,575 320,915 14,222,894 58,030 11,684,207 11,742,237 2,480,657 13,500 _______ 2,494,157 - 2,494,157 15,595,606 18,089,763 ===========

The Statement of Financial Activities contains all the gains and losses recognised in the current and preceding year. The results shown above are derived from continuing activities. The notes on pages 25 to 37 form part of these financial statements.

THE HALL SCHOOL CHARITABLE TRUST (Company No: 00509427)

BALANCE SHEET AT 31 AUGUST 2025

Notes FIXED ASSETS Tangible assets 8 Investments CURRENT ASSETS Debtors 9 Cash and short-term deposits LIABILITES Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 11 Total net assets Endowment funds 12 &13 Restricted funds 12 &13 Unrestricted funds Designated Funds 12 &13 General Funds 12 &13 TOTAL FUNDS	2025 £ 15,548,170 103,069 15,651,239 3,255,189 8,757,066 12,012,255 (6,978,355) 5,033,900 20,685,139 (1,380,349) 19,304,790 ============ 429,993 50,056 2,518,007 16,306,734 19,304,790 ==============	*2024* £ 16,079,883 90,980
		16,170,863 417,688 7,985,427
		8,403,115 (4,045,487)
		4,357,628
		20,528,491 (2,438,728)
		18,089,763 ============== 470,837 62,819 518,007 17,038,100
		18,089,763 ==============

The accounts of The Hall School Charitable Trust were approved and authorised for issue by the Governors on the 4[th] December 2025 and signed on their behalf by:

………………………… Peter Mason Chair of Governors

……………………….. Louis Florentin-Lee Chair of Finance & General Purpose Committee

The notes on pages 25 to 37 form part of these financial statements.

THE HALL SCHOOL CHARITABLE TRUST

CASH FLOW STATEMENT

AT 31 AUGUST 2025

				2025	*2024*	*2024*
			£	£	£	£
Net cash inflow from operations
Net cash provided by operating activities (i)				864,560		5,561,077
Cash flows from investing activities:
Purchase of tangible assets			(374,609)		(6,237,253)
Investment income			289,324		320,915
Net cash used in investing activities				85,285		(5,916,338)
Cash flows from financing activities:
Long term loan repayments			(7,636)		625,000
Net cash (outflow)/inflow from financing				(7,636)		625,000
Change in cash and cash equivalents in		the
reporting period				771,639		269,739
Cash and cash equivalents	at	the
beginning of period				7,985,427		7,715,688
Cash and cash equivalents at the	end		of
the reporting period (ii)				8,757,066		7,985,427
				============		============
(i) Reconciliation of net income to	net	cash flow from operating			2024	*2023*
activities
					£	£
Net income					1,215,027	2,494,157
Depreciation charge					906,322	510,671
Impairment					-	810,624
(Gains) on investments					(12,089)	(13,500)
Investment income					(289,324)	(320,915)
(Decrease) in fees in advance scheme creditors					(1,294,661)	2,893,360
(Increase) in debtors					(2,837,501)	59,831
Increase / (decrease) in creditors					3,176,786	(873,151)
Net cash inflow from operating activities					864,560	5,561,077
					============	============
(ii) Analysis of cash and cash			At	Cash	*Movement*	At
equivalents		01/09/2024		inflow		*31/08/2025*
			£	£	£	£
Cash at bank			7,985,427	771,639	-	8,757,066
Debt due under 1 year			(8,649)	-	(11,802)	(20,451)
Debt due more than 1 year			(616,351)	-	19,438	(596,913)
			7,360,427	771,639	7,636	8,139,702
		=============		=============	================	=================

The notes on pages 25 to 37 form part of these financial statements.

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. CHARITY INFORMATION

The Hall School was founded in 1889. It is constituted as a company limited by guarantee registered in England, No. 509427, and is registered with the Charity Commission under Charity No. 312722. The School is governed by its Memorandum of Association and Articles of Association last amended on 19[th] June 2018. The School registered for VAT on the 1 December 2024. The registered address of both The Hall School Charitable Trust and The Hall School Endowment Fund (The Trust) is 23 Crossfield Road, London, NW3 4NU.

2. ACCOUNTING POLICIES

a) Basis of accounting The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - effective 1 January 2015. Assets and liabilities are initially recognised at historic cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The results of The Hall School Endowment Fund (This Trust), established in 1980 under a separate charitable trust deed, are amalgamated, as a linked charity, into the main School accounts, on the basis of common control.

Public Benefit

The School is a Public Benefit Entity registered as a charity in England and Wales and a company limited by guarantee. It was incorporated on 2 July 1952 (company number: 00509427) and registered as a charity on 11 September 1963 (charity number: 312722).

Going Concern

With respect to financial viability and going concern, the Governors continually assess the financial resilience of the School through close monitoring of the school’s finances during the year, the stable cash flow from student enrolment and the availability of external financing facilities that would provide an adequate safety net in the event of adverse operating conditions. The impact of additional costs to ensure the school is operating in a safe environment for both staff and students, improvements to the School’s infrastructure, drop in pupil numbers, loss of business rate reliefs, has been embedded in the School’s budget and cashflows. As such, the Governors are satisfied that the School has adequate resources to continue to operate for the foreseeable future. For this reason, they continue to adopt the going concern basis for preparing these financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the School’s financial statements.

b) Fees receivable and similar income Fees receivable comprise tuition fees charged to pupils less scholarships and bursaries. Registration fees are non-refundable and are credited to income when received. Deposits are included as a liability until refunded or, on ceasing to be refundable, are credited to income. Advance fees are credited to income as and when they fall due.

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

c) Investment income

Investment income from dividends, bank balances and fixed interest securities is accounted for on an accruals basis. Income from properties is accounted for in the period to which the rental income relates.

d) Donations, legacies, grants, and other voluntary income Voluntary income is accounted for as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the School is considered probable.

Voluntary and grant income for the School’s general purposes is accounted for as unrestricted and is credited to the general funds. Where the donor or an appeal has imposed trust law restrictions, voluntary income is credited to the relevant restricted fund and incoming endowments are accounted for as permanent trust capital or expendable trust capital, according to whether the donor intends retention is to be permanent or not.

Government grants are recognised on the accruals basis, when there is reasonable assurance that the School will comply with the conditions attaching to the grant and the grant will be received. The grant in connection to the job retention scheme, has been recognised in the period to which the underlying furloughed staff costs relate to.

e) Expenditure

Expenditure is allocated to expense headings on a direct cost basis. The irrecoverable element of VAT is included within the item of expense to which it relates. Governance costs comprise the costs of complying with constitutional and statutory requirements.

Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longerterm liabilities. Expenditure attributable to more than one cost category in the Statement of Financial Activities is apportioned to them on the basis of the estimated amount attributable to each activity in the year, either by reference to staff time or the use made of the underlying assets, as appropriate. Irrecoverable VAT is included with the item of expenditure to which it relates.

Grants awarded are expensed as soon as they become legal or operational commitments. Governance costs comprise the costs of complying with constitutional and statutory requirements.

f) Depreciation of tangible fixed assets

Depreciation is provided on all tangible fixed assets in use, other than freehold land, at rates and bases calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold buildings - over 50 years Long term leasehold property - length of the lease Freehold and leasehold improvements - between 6 and 20 years Furniture and equipment - between 5 and 10 years (As of 2020-21 the policy has changed from 5 to between 5 to 10 years due to the expected useful life of certain assets.) Motor vehicles - over 4 years Computer equipment - over 3 years

Assets are capitalised only when their cost, or bulk cost of acquisition amounts to £1,000 or more. Expenditure on land and buildings is depreciated from the term in which the facility comes into use. In the case of other assets, a full year of depreciation is charged in the year in which they are acquired.

g) Investments

Investments are a form of basic financial instrument and are initially shown in the financial statements at market value. Movements in the market values of investments are shown as unrealised gains and losses in the Statement of Financial Activities.

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Gains and losses on the realisation of investments are shown as realised gains and losses in the Statement of Financial Activities. Realised gains and losses are calculated as the difference between sale proceeds and opening carrying value or the purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value of investments at the year-end and their carrying value. Realised and unrealised investment gains and losses are allocated to the appropriate Fund according to the "ownership" of the underlying assets.

h) Consumable supplies

Supplies of games equipment, books, stationery, and sundry materials are accounted for in the period to which they relate.

i) Fund accounting

The charitable trust funds of the School are accounted for as unrestricted or restricted income, or as endowment capital, in accordance with the terms of trust imposed by the donors or any appeal to which they may have responded.

Unrestricted income belongs to the School’s corporate reserves, spendable at the discretion of the Governors either to further the School’s Objects or to benefit the School itself. Where the Governors decide to set aside any part of these funds to be used in future for some specific purpose, this is accounted for by transfer to the appropriate designated fund.

Restricted income comprises gifts, legacies and grants where there is no capital retention obligation or power but only a trust law restriction to some specific purpose intended by the donor.

Expendable endowment funds arise where donors specify that the funds should be retained as capital for the long-term benefit of the School and that the capital can be converted into income for spending either at the Governors’ own discretion or else upon the happening of some event contemplated by the donor.

j) Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions.

k) Pension costs

Retirement benefits to employees of the School are provided through three pension schemes, one defined benefit and one defined contribution. The pension costs charged in the Statement of Financial Activities are determined as follows: (1) The Teachers’ Pension Scheme - This scheme is a multi-employer pension scheme. It is not possible to identify the School’s share of the underlying assets and liabilities of the Teachers’ Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS102, accounts for the scheme as if it were a defined contribution scheme. The School’s contributions, which are in accordance with the recommendations of the Government Actuary, are charged in the period in which the salaries to which they relate are payable. (2) From 1 September 2024, the school introduced a defined contribution scheme with AVIVA for new teaching staff and the option of existing teaching staff to join should they wish to. The School also contributes to defined contribution pension scheme for support staff. Employer’s pensions costs for both schemes are charged in the period in which the salaries to which they relate are payable.

l) Operating Leases

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

3a. CHARITABLE ACTIVITES – FEES RECEIVABLE

a. CHARITABLE ACTIVITES – FEES RECEIVABLE
Tuition fees Less: discounts Less: bursaries & hardship awards Add back bursaries paid for by endowed funds	2025 £ 11,811,242 - (126,606) 11,684,636 116,538 11,801,174 ===============	*2024* £ 11,371,406 (6,086) (92,105)
		11,273,215 88,859
		11,362,074 ===============

Included within bursaries and hardship awards, £116,538 paid to 5 pupils (2023-24: £88,859 paid to 4 pupils) in connection to bursaries at the school. 4 (2023-24: 3) of these awards were 100% bursaries. In 2023-24, 1 student’s full tuition fees were paid for by another party as part of their bursary scheme through another charity.

Hardship awards totalled £10,068 (2023-24: £3,246). Other bursary related costs totalled £5,384 (202324: £7,560).

3b. CHARITABLE ACTIVITES – OTHER EDUCATIONAL INCOME

	2025	*2024*
	£	£
Registration fees	37,007	26,150
Recharges and disbursements	20,720	19,701
Music concert recharge	19,987	17,085
Music lessons	42,992	57,929
Deposits	6,000	10,000
School trips	285,145	310,682
Activities	62,940	104,940
Late club	25,176	22,296
Sundry income	25,903	16,303
	----------------------------	----------------------------
	525,870	585,086
	============	============
OTHER TRADING ACTIVITIES
	2025	*2024*
	£	£
Rents received	29,400	27,000
Lettings receivable	24,650	15,575
	----------------------------	----------------------------
	54,050	42,575
	============	============

4a. OTHER TRADING ACTIVITIES

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

ANALYSIS OF EXPENDITURE
	Staff costs	Other	Depreciation	Total
	(Note 7)
2025	£	£	£	£
Raising funds
Financing costs	-	35,897	-	35,897
Advance fee fund costs	-	4,051	-	4,051
Fundraising & development	3,000	3,406	-	6,406
Charitable activities
Teaching	6,385,988	1,095,791	68,314	7,550,093
Welfare	397,822	260,742	-	658,564
Premises	393,543	634,847	838,008	1,866,398
Support costs of schooling	809,894	608,333	-	1,418,227
	----------------------------------	----------------------------------	----------------------------------------	-----------------------------
Total expenditure	7,990,247	2,643,067	906,322	11,539,636
	==============	==============	=================	=============

Teaching costs includes £36,503 spent on Activity Camps in 2024-25 (2024: £44,637).

Premises cost includes impairment values of £nil in 2024-25 (2024: £810,624) in connection to assets under construction.

		*Staff costs*	*Other*	*Depreciation*	*Total*
		*(Note 7)*
	*2024*	£	£	£	£
	Raising funds
	Financing costs	-	18,753	-	18,753
	Advance fee fund costs	-	13,973		13,973
	Fundraising & development	20,025	5,279	-	25,304
	Charitable activities
	Teaching	6,217,490	1,041,052	96,049	7,354,591
	Welfare	380,460	260,808	-	641,268
	Premises	373,158	1,444,643	414,622	2,232,423
	Support costs of schooling	826,880	629,045	-	1,455,925
		----------------------------------	----------------------------------	----------------------------------------	-----------------------------
	Total expenditure	7,818,013	3,413,553	510,671	11,742,237
		==============	==============	=================	=============
6.	GOVERNANCE COSTS			2025	*2024*
				£	£
	Trustee expenses				-
	Professional fees			8,130	75,935
	Auditors’ remuneration (excluding VAT)
	- for audit			17,600	16,775
	- for other services			1,413	9,140
				----------------------------	----------------------------
				27,143	101,850
				============	==============

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

		2025	*2024*
7.	STAFF COSTS
		£	£
	Wages and salaries	5,860,817	5,918,699
	Social security costs	678,630	637,083
	Pension costs	1,229,396	1,110,922
	Agency & contract costs	50,302	56,725
	Outsourced contracts	38,860	44,426
	Medical insurance & benefits	42,378	46,027
	Other costs	2,823	4,131
	Redundancy & termination costs	87,041	-
		---------------------------------	---------------------------------
		7,990,247	7,818,013
		==============	=============

Key Management personnel are the Senior Leadership Team (SLT) of the school, the SLT consists of totaling nine members from 29 March 2025, ten members to 28 March 2025 (eight to 31 August 2024). Employee benefits (including employers national insurance contributions) paid to this group amounted to £1,296,658 (2024: £1,177,173). The spouses of the Headmaster (2024 only), and of one of the Governors (2024 & 2025) are also employed by the charity and their salaries have been included within the key management personnel disclosure. Termination payments totalled £87,041 in the current year.

The average monthly number of employees on a head count basis during the
year was made up as follows:	2025	*2024*
Teaching	70	69
Support Staff – teaching	21	21
Musicians (ensemble staff)	14	14
Office and other support	15	14
Domestic	8	9
Cleaners	7	6
Catering	10	10
	---------------	---------------
	145	143
	======	======
The number of employees whose emoluments (including termination payments
and taxable benefits) in the year exceeded £60,000 were:	2025	*2024*
£60,001 - £70,000	20	16
£70,001 - £80,000	9	9
£80,001 - £90,000	4	4
£90,001 - £100,000	2	1
£100,001 - £110,000	1	-
£110,001 - £120,000	-	1
£200,001 - £210,000	1	-
£210,001 - £220,000	-	1
	----------------	----------------
	37	32
	======	======

Of the above staff members 32 (2024: 29 have benefits accruing under defined benefit pension schemes and 5 (2024: 3) have benefits accruing under the defined contribution scheme. Employer's contributions for the defined contribution scheme were £63,704 (2024: £27,958).

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

8. TANGIBLE FIXED ASSETS

Cost At 1 September 2024 Additions Disposal/impairment At 31 August 2025 Depreciation At 1 September 2024 Charge for year On disposal At 31 August 2025 Net book values At 31 August 2025 At 31 August 2024	Freehold Property £ 21,719,134 250,819 - 21,969,953 7,260,631 771,907 - 8,032,538 13,937,415 =============== 14,458,503 ===============	Long term Leasehold Property £ 2,194,561 - - 2,194,561 816,503 66,101 - 882,604 1,311,957 ================ 1,378,058 ================	Furniture & Equipment £ 1,485,178 123,790 - 1,608,968 1,241,856 68,314 - 1,310,170 298,798 ================ 243,322 ================	Motor Vehicles £ 43,591 - - 43,591 43,591 - - 43,591 - ========== - ==========	Total £ 25,442,464 374,609 -
					25,817,073
					9,362,581 906,322 -
					10,268,903
					15,548,170 =============== 16,079,883 ===============

9. DEBTORS: amounts falling due within one year	2025	*2024*
	£	£
Prepayments	455,204	288,407
Fee debtors	2,699,139	28,453
Sales debtors	28,812	-
Other debtors & accrued income	72,034	100,828
	---------------------------	---------------------------
	3,255,189	417,688
	============	============
10. CREDITORS: amounts falling due within one year	2025	*2024*
	£	£
Bank loan	20,451	8,649
Advance fees fund/scheme	961,801	1,217,521
Trade creditors	430,066	189,180
Taxes and social security	715,090	2
Deposits against final term’s accounts	858,899	816,899
Other creditors	68,559	65,287
Accruals	228,429	296,007
Deferred income	3,695,060	1,451,942
	--------------------------------	--------------------------------
	6978,355	4,045,487
	==============	===============

Deferred income represents school fees received in advance as well as other income relating to the next financial period. All deferred income brought forward was released in the year. 11. CREDITORS: amounts falling after more than one year

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

	2025	*2024*
	£	£
Bank loan	596,913	616,351
Advance fees fund/scheme	783,436	1,822,377
	--------------------------------	--------------------------------
	1,380,349	2,438,728
	==============	===============

Bank loan

On the 18 January 2024, the school entered in loan agreement with Barclays Bank PLC with a facility up to £3m for the Senior School Development project. Drawdown of funds took place during the year and the school will be able to drawdown further funds to 31 December 2024 in connection to the project. The term of the loan is 5 years with a 20-year repayment profile, with 47 instalments of principal and interest payable on the charging dates commencing after the end of the Capital Repayment Holiday with a lump sum repayment of the full loan on the final repayment date. The rate of interest payable on the loan is on the base rate plus 1.2% per annum.

As part of the terms of the loan, a debenture was granted in favour of the bank and legal charges over the freehold property at 23 Crossfield Road and the Junior school site (2 Buckland Crescent and 69 Belsize Park).

Advance fee fund

The analysis of the advance fee fund by years as stated below and as reflected in the balance sheet is presented on the assumption that pupils stay at the school and parents will not require withdrawals before schedule. The money may be returned subject to specific conditions on the receipt of notice.

	2025	*2024*
	£	£
Due within two to five years	364,646	809,064
Due within one to two years	418,790	1,013,313
	--------------------------------	--------------------------------
	783,436	1,822,377
Due within one year	961,801	1,217,521
	--------------------------------	--------------------------------
	1,745,237	3,039,898
	==============	===============

The balance represents the accrued liability under the contracts. The movements during the year were:

	2025	*2024*
	£	£
Balance at 1 September	3,039,898	146,538
New contracts	-	3,021,725
Amounts utilised in payment of fees to the School & released for leavers	(1,294,661)	(128,365)
	--------------------------------	--------------------------------
Balance at 31 August	1,745,237	3,039,898
	==============	===============

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

12. MOVEMENT ON FUNDS	Balance				Balance
	1 September			Transfers & Other	31 August
	2024	Income	Expenditure	Gains/ (Losses)	2025
	£	£	£	£	£
Endowment
Hall School Endowment	379,857	68,283	(116,754)	(4,462)	326,924
Alan Diamond Bursary Fund	90,980			12,089	103,069
	------------------------------------------	-----------------------------------	----------------------------------------	----------------------------------------------	------------------------------------------
	470,837	68,283	(116,754)	7,627	429,993
Restricted Funds
Library Fund	830	-	-	-	830
Media Fund	4,948	-	-	-	4,948
Learning Support Project	8,743	-	(4,325)	(4,418)	-
Music – Radio Station	1,317	-	-	-	1,317
South Africa Fund -1	24,713	-	(2,250)	-	22,463
South Africa Fund -2	22,168	-	(8,000)	-	14,168
Bursary Fund	-	-	-	4,462	4,462
Junior School Fund	-	3,500	(1,832)	-	1,668
Further Study Fund	-	7,000	(7,000)	-
Other	100	500	(400)	-	200
	--------------------------------	----------------------------------	--------------------------------	----------------------------------	--------------------------------
	62,819	11,000	(23,807)	44	50,056
Unrestricted funds:
Designated Funds
South Africa Fund	18,007	-	-	-	18,007
Future Estate Capital Fund	500,000	-	-	-	500,000
Reserves policy Fund	-	-	-	2,000,000	2,000,000
General Fund	17,038,100	12,663,291	(11,399,075)	(1,995,582)	16,306,734
	------------------------------------	----------------------------------	-----------------------------------	------------------------------------	------------------------------------
	17,556,107	12,663,291	(11,399,075)	4,418	18,824,741
	------------------------------------------	-----------------------------------	----------------------------------------	----------------------------------------------	------------------------------------------
Total Funds	18,089,763	12,742,574	(11,539,636)	12,089	19,304,790
	==============	===============	==============	===============	==============
	*Balance*				*Balance*
	*1 September*			*Transfers & Other*	*31 August 2024*
	*2023*	*Income*	*Expenditure*	*Gains/ (Losses)*
	£	£	£	£	£
Endowment
Hall School Endowment	1,860,586	1,863,285	(89,014)	(3,255,000)	379,857
Alan Diamond Bursary Fund	77,480	-	-	13,500	90,980
	----------------------------------	-----------------------------------	----------------------------------------	----------------------------------------------	------------------------------------------
	1,938,066	1,863,285	(89,014)	(3,241,500)	470,837
Restricted Funds
Library Fund	830	-	-	-	830
Media Fund	4,948	-	-	-	4,948
Wellbeing & Mental Health Fund	8,340	-	(8,340)	-	-
Learning Support Project	-	10,000	(1,257)	-	8,743
Kasuma Trust UK	6,826	-	(6,826)	-	-
Music – Radio Station	1,317	-	-	-	1,317
South Africa Fund -1	26,126	-	(1,413)		24,713
South Africa Fund -2	3,399	29,985	(11,216)	-	22,168
Other	-	23,329	(200)	(23,029)	100
	--------------------------------	----------------------------------	--------------------------------	----------------------------------	--------------------------------
	51,786	63,314	(29,252)	(23,029)	62,819
Unrestricted funds:
Designated Funds
South Africa Fund	18,007	-	-	-	18,007
Buildings Fund	1,050,000	-	-	(1,050,000)	-
Future estate capital fund	500,000	-	-	-	500,000
General Fund	12,037,747	12,296,295	(11,623,971)	4,328,029	17,038,100
	------------------------------------	----------------------------------	-----------------------------------	------------------------------------	------------------------------------
	13,605,754	12,296,295	(11,623,9710	3,278,029	17,556,107
	--------------------------------------	-----------------------------------	----------------------------------------	----------------------------------------------	------------------------------------------
Total Funds	15,595,606	14,222,894	(11,742,237)	13,500	18,089,763
	==============	===============	==============	===============	==============

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

12. ENDOWMENT, RESTRICTED FUNDS AND DESIGNATED FUNDS

Endowment Funds

The Endowment Fund, established in 1980 under a separate charitable trust deed, has now been amalgamated into the main School accounts, on the basis of common control, with comparative figures adjusted as necessary. The Endowment Fund has two objectives: firstly, to award scholarships; and bursaries; and secondly the development of the educational facilities of Hall School. All funds in the endowment are restricted to the objectives stated above and are expendable endowments unless specifically specified. During the year, £3,255,000 was transferred to general funds as these funds were used for the Senior School Development Project which have been capitalised as fixed assets.

Alan Diamond Bursary Fund is a separate endowment that has been created due to the gift from an alumnus of the school, this fund will be used to fund bursaries.

Restricted Funds

All restricted funds relating to bursaries and development have been transferred to the Hall School Endowment Fund which, as a linked charity is a restricted fund.

The Learning Support Project is the funded with the support of the St Paul's Schools Foundation, to facilitate partnership primary school class teachers in providing a positive learning experience for all pupils in their classroom through the provision of targeted support to pupils with language, communication, emotional, social mental health. The funds have been fully utilised.

South Africa fund 1 represents donations from boys and parents to be used to support music and education in South Africa.

South Africa fund 2 - As part of the music tour to South Africa, all participating boys are actively raised funds for The Morning Stars in Mamelodi, Pretoria, a charity that offers a safe space for children to participate in musical and cultural activities after school.

The Bursary Fund reflects the balance of donation made by the Endowment Fund to the School.

The Junior School funds represent the donation made by the HSPA to be specifically spent on the Junior School playground.

The Further study fund represents a grant made to be spent on staffing costs.

The fund for the Radio Station represents donations given specifically for the use and the setting up of the school’s radio station. The transfers between restricted and unrestricted funds represents amounts utilised initially by unrestricted reserves.

Designated funds are those funds which have been set aside by the governors for specific projects: The South Africa Fund relates to the 2019 - 2020 school trip to that country and has arisen from surpluses from previous tours and will be used for towards other tours.

The Buildings fund had been set up by the Trustees to set aside an amount towards the school's development project. This was fully spent in 2024.

The Future Estate Capital fund represents the school’s first contribution in 2022-23 out of the school’s free cash surplus towards the long-term provision of the replacement and refurbishment of the overall school premises/infrastructure.

The Reserves policy fund represents the funds that the governors are looking to build up to support one terms expenditure.

The General Fund comprises free reserves and the net book value of tangible fixed assets.

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

13. ANALYSIS OF NET ASSETS

2025	Unrestricted	Restricted	Endowment	Total
	£	£	£	£
Tangible fixed assets	15,548,170	-	-	15,548,170
Investments	-	-	103,069	103,069
Net current assets/ (liabilities)	4,656,920	50,056	326,924	5,033,900
Long term liabilities	(1,380,349)	-	-	(1,380,349)
	-----------------------------------	-----------------------------------	-----------------------------------	------------------------------------
	18,824,741	50,056	429,993	19,304,790
	===============	===============	===============	===============
2024	*Unrestricted*	*Restricted*	*Endowment*	*Total*
	£	£	£	£
Tangible fixed assets	16,079,883	-	-	16,079,883
Investments	-	-	90,980	90,980
Net current assets/ (liabilities)	3,914,952	62,819	379,857	4,357,628
Long term liabilities	(2,438,728)	-	-	(2,438,728)
	-----------------------------------	-----------------------------------	-----------------------------------	------------------------------------
	17,556,107	62,819	470,837	18,089,763
	================	===============	===============	===============

14. RELATED PARTY TRANSACTIONS

The following transactions occurred during the year with related parties:

Two Governors had children who were pupils at The Hall School during the year (2023-24: Four). School fees paid and discounts received were at the same rate and on the same terms as for all other parents of pupils at the school. These Governors are not involved in decision making processes relating to their own children.

Governors are not remunerated for their duties; however, they are reimbursed travelling costs to attend meetings from time to time. No Governors were reimbursed for travel costs in the year (2023-24: None). There were no costs paid to a third-party during the year (2023-24: £Nil). No amounts were outstanding at end of the year (202-24: £Nil).

Donations received from Governors during the year ended 31 August 2025 were nil. (2023-24: £223,029).

In 2023-24, the Head of External Affairs, Dr Sue Godwin is a Director and Trustee of The Winchester Project (The Winch) and the School works and supports The Winch as part of its public benefit initiatives.

The previous Chair of Governor’s wife is an employee of the School, and her appointment was made independently by the Headmaster and the Head of the relevant department. Her remuneration is in line with the School’s policy. The Chair of Governors was not involved in the decision-making processes.

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

15. PENSION COMMITMENTS

The School participates in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £943,985 ( 2024: £918,294) and at the year-end £nil ( 2024: nil ) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

Non-teaching staff are offered membership, a defined contribution scheme (Group Personal Pension Plan). The amount contributed into the scheme by the employer amounted to £196,605 ( 2024: £192,628 ) and at the year-end £nil (2023 - £Nil) was accrued in respect of contributions to this scheme.

From the 1 September 2024, the school is also running a defined contribution pension scheme with AVIVA for new teachers, current teachers can also join the scheme. The amount contributed into the scheme by the employer amounted to £88,806 and at the year-end £nil was accrued in respect of contributions to this scheme.

THE HALL SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

16. OPERATING LEASE COMMITMENTS

Operating leases that are subject future minimum lease commitments are as follows:

	2025	*2024*
	£	£
Within one year
Vehicles	7,884	15,768
Equipment	34,047	8,888
Between two to five years
Vehicles	-	7,884
Equipment	59,207	17,778
	_	___
Total	101,138	50,318
	_	___
Recognised as an expense	26,736	26,736
	_	___

17. CAPITAL COMMITMENTS

In addition to items accrued, the school had capital commitments of £146k as at 31 August 2025 (2024: £146k).