R•£lsi•red Company number: OU640464 IEn8land aDdWale51 fte8btsredtharlty number. 312n4 GOVERNORS, REPORT AND ACCOUNTS FOR QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI FOR THEYEAR ENDED31AUGUST2025 QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI CONTENTS Page Legil and Administratlwe1nforFllation GoverTrors' Report1lncorporatinE ihe St¥ategi¢ Reportl 513tement of Governors. Responsibilities Independent Auditors, Rèwrt 10-12 Statement of Financi41 ktlvities 13 Bèlance Sheet 14 Cash Flow Statement 15 Notes to the Financi31 St6tement5 16-25 QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BYGUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION oveinors Mr5 Reica Gray Icholrl Mr Paul Baldvln lappolntsd 3 November 20251 Mrs Nlcolè BrEght Mlss K3ren CDles Ms C3rol Davi5 Mrjonathan Dob50n Ire51gned 22 September 20251 Ms Emma Gh05h lappolnted 2 December 20251 Mr Sha5 Hill Mrs Clare LÉnterm£n Mr Gary U Ireslgned 25 Aprll 20251 Mr Davld 5harman lappolnted 20 March 20251 Mr PeterTnJeman Iresl8ffled 8 December 20251 Mr Slmon Underwood lappolnted 3 Aprll 20251 Mrs Manina Weldon Inclpal Mlss Amy Walla Bursarand Se¢retary Mrs Sian Lehrter Ireslgned 30 Aprll 20251 Ms Paula Vanninen (appointed l M3y 2025. re￿gned 17 December20251 Mlss Antta Larsen (appointed 10 March 20261 5enlor Manapment Team Miss Amy Wallace Mr ChT15tlan Kend311.Oow Miss Anlta Larsen l?ppolnted 10 March 20261 Mrs Lydia Ky'.e Ms tharlotte De La PeTTa Mr James Denchfield MT Philip Willlams Ms Coleen Glttens Mrs Athlna Mltropoulos Ms De3nna Cappell Comp8ny number 00640464 Charlty number 312724 Prlnclpal address and reglstered offk¢ Queen's Gate khool 133 Queen's Gate London 5W7 SLE Audltors TC Group The Courtyard Shoreh3m Road ijpper Beed5ng Steyning West Sussex BN44 3TN Banke Barclays Bank PIC I Churchlll Place Canary Wharf London E14 SHP QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORT} FOR THE YEAR ENDED 31 AUGUST2025 The Queen's Gate School Governors I'the Gove¥r)ors'l preseTrt their annual report, togeiher with the autlited financlal statement5 of the charitable Eotnpany for the year ended 31 AuEUSt 2025. The 3nnual report serve5 the purposes of both tru5tee5' report and a directors, report vnder company law. REFERENCE AND ADMINISTRATIVE INFORMATION Queen's Gate Sthtrol was founded in 18913nd 15 registered with the Charity Commission under Ch?rity Number 312724. The fjovernors, Senior M3na8ement Team and principal address of the Charity togerher with det3ils of the Charit(s professional advisors are given on the Legal and Administrative Information page ibDVe. The S£ho•l Queen's Gate SchoDI 15 ? ientral London indepèndent day school for girls £ged 4-18 that combine5 acadEmic success and excellent Pastoral cale with a most welcoming envircnment, The school is lorated in five Èle6ant buildings in Qu¢en's Gate, south Kensington. The Prin¢lpal Miss Arny Wallace hès been Principal of the School since September 2022. She is èssi51ed by a management team which colnprises seven key Siall in the 5enlor School. the Director ol the Junior School and the Bursar. STRUCTVRE, GOVERNANCE AND MANAGEMENT Govprn8nce Under the Memoiandurn and Articles of Association of Queen's Gate School Trust Lid, control of the CoTnpany Is vested in the GoverninE Body. whose Members perform a role equiv?lent to that ol cornpany directors. The Articles of Association were updated in 2013. The Governors are also tru5tee5 of the Charitv. Govprnlng Body Details of c￿rrent Governors along with thos¢ who were in office during the year ended 31 August 2025 are listed on page L. Durin8 the year, G Li resigned, and two new goveinors joined the board, S Underwaod and D Sharman. The School aims to hève a broad rènge of skills on the GoverninE Body, and amoThgst other rhlngs, current Goverrttsrs are experienced in the follDwing fields.. education, law, finance, property and bu5inÈss. Re¢ruliment and Tialnln8 of Governors Governors are appointed by invitation Df thp Governing Body. New Governors are inducted into the working ol the School and the charity at induction Sessions held with the Principal and Bursar. èt which they are presÈnted wlth information on 80vernance 3nd othEr relevant policies and procedures. All Governors atteDd ¥egJlar training to ensure th&y can meet their safeguarding and other responsibilities. GoverDor5 are encouraged to use rÈsDurces made available from the A$50CiatioTh of Governing Bodies of Independent Schools IAG8151. Governors regularly vislt the School and attend School events wherever possible. Or8anlsatlDn21 Management The Governors. as the trustee5 of the Charlly. are legally responsible for the overall tnanègement and control of the School. The Full Governing Body met four times during tho year to 31 Av8u5t 2025.. three times fpr Board Meetings. and oncÈ for a Stiaregy D3y. It establishes an overèll framework lor the governance of the SchDoI and delegates certain key respoD5ibililie5 to ils committEes. The work of the Committee5 15 mDnitDred ihough the minute5 of their tneetiThgs and the ratifitètion of decislons where rpquired. During the year to 31 August 2025 there were flve Main Committees.. Flnance Cornmilte¢ (which also serve$ as the audit committee), chèSred by Peter Truefflan. and responsible for monitoring the itnplEmentation ol fin3nce policies. reviewing and recommending the annual budEet, rnonitorin8 rnan38ement account5 and presenting the audited finirTrcial statements ftrr 2pprovèl by the Full Governing Sody. Education Comvnlttee. chalred by Nicky Brlght ro ensure irnplementatlon of academic, pollcles and monitDr the School's academic development. Pastoral Commlttee, chglred by Clare Lenterman, to ensurethe School's fulfilment of its pastoral and s£le8uarding respon5ibililies. Clare is a150 the nominated 5afegu3rding Governor. QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT {INCORPORATING THE STRATEGIC REPORTI FOR ThIE YEAR ENDED 31 AUGUST2025 Premlses and Health & Safety Committee, Chaired by Gary Li until April 2025, then by Simon Underwood, to oversee the School's buildings, mansgement of trur ¥E8ulatory He81th & Safety expectztions and help guide future relurbishment projects. Development Commlttee, chaired by Mènina Weldon, whlch works with the School to raise additignal funds for the School through a variety of fundraising aEtivlties. The Remuneration Commlttee, e5tabli5hed dLJringthe pri¢ryear as 3 sub-committee of the Finance CDmmittee. first met in September 2024. The Princip31 and the Bursar attend mepting5 01 the Governors. Qther rnember5 of the Senior Mona8ement Team ISMTI ttend as appropriaie. The day to day running of the School is delegated to the Principal supporied by herSMTwhich is comprised of the follDwing Miss Amy Wallè¢e- Principal Mr Christian Kendall-Daw-Vice-Principzl Mrs Sian Lehrter Bursar Ireslgned 30 April 20251 Mlss Pau13 Vanninen- Bursar lcommenced l May 20251 Mrs Lydia Kyle- Director of the Junior School Mr Mark Crundwell- Director of Teachin& Leorning and Assessment Mr Jame5 D¢nchfield- Director of Admlssions M5 Charlotte de la Pena- Director of Pastoral Care Mr Phlllp Willi8ms- Director of Curriculum Ms Coleen Gittens- Dlrectcr of Slxth Form Miss Nichola Kolgate-Smith- Assistant Director of Pastoral Care (commenced maternity leave 9 May 20251 Mrs Gr8inne Rae5ide- Acling A5515tant DI1￿l￿rof Pastoral Care Imèternity leave cover from 9 May 20251 Miss Emily Moore- Acting A5S1Stant Director of Operations Imaternlty leave cover from 9 Mavl Group Strtsrture and Relatlonshlps There Is no group structure. All actlvltles of the Charity are carried out by the Charity itself. OBJECTS, AIMS AND OBJECTIVES Charbtsble Oble¢15 The Chaiit(5 Object5, Hs set out in its Metnorandum of Association dated 15 October L959 a￿., To promote the cause¢f education and provldeforthetralnlng and instruction ol pup115 in eyery branch of leaining.. In citizenship,. in outdoor pursults.. and in the arts and crafts of all kinds. To provide such pupils Wlth 5piritu31. moral. mental and physical training on the basis Df Chrlstian p¥incip1es and by accepting pupils without distinction on the ground5 of ri￿, calour or creed to encourage the understanding and talprancE of dfjfferent Social and religious systems. To maifitain its heritage endowment- the School wsth its Grade 2 listed buildings within these objects. Alms and Intended lrnpact In both the Junior and Senior schools, the aim is to create 3 Secure and hèppy environment In which ezch girl may realise her 3Cade￿1C and personal potential ènd Individuality. Our expectations of our pupi15 are high both in and oul of the lassroom. We encourage their intellettual developme4)t, their Interest and involvement in extra-curticul4r a¢tivities as well as a concern for other5 through charitable work, enablingthem to become responsible citlzen5 in 8 5m&ll schoD5 and a larger world. Public BenÈfit In setting the objective5 and p13nning acrivities, the Governors have considered the Charity Commission's general guldance on publlc beneflr. QUEEN'S GATE SCHOOL TRUST LIMITED IUMITED BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STrATEGIC REPORn FOR THE YEAR ENDED 31 AUGUST2025 Queen's Gate School 15 è thwit?ble trust which seeks to benefit the public through the pursuit ol it5 core asms. In addition. the School serve5 the wider cornmunity by.. PartlClP31inÈ In and promoting jolnt actN1tie5 With other local schools. both State and Independent. Encouragin8 and SUPPDrting pupils and stsff to ￿ actively involved In local, natlonal and international charitie5. Providing bursary 35515t?nce to widen access. The School does not benefit from endowmeDt Income and therefore makes a propDrtion of gr05S fee incorne available to provide 3ssisrance to pupils whe would not otherwisp be able to joiTr or remain èt the School. All glrls are encouraged to become involved In charitable work and the Sixth Form aTe ￿qUired to carry out cornmunlty 5erviie in the localiiy as pari of their education whi15t at the School, for example with Age UK 01 'Foodbank Frida￿, or p?rti¢ipating in a readlng project with a local 5tat& school or in our own Junior Sd)ool. Many girls also carry out charit3blÈ work and community service thrDugh the Duke of Edinburgh Award Scheme. Grant Making Pollcy The value ol bursaries. scholarships and discouDiS made to the School's pupi15 in 2024125 was £938.072 IZ023n4'. E824,6261. These awards support the School's pollcy to widen access, encDura8e rilented pupi15 and to re15eve hardship where existing pupils, edu¢atioTh and future prospects would otherwise be at risk. The total value of 811 these awards represents neafly 8% of the gf055 fee income with the value of means-tested bursaries representlng 5.7% of gr055 fee income, which is in line with rhe SchooV5 Bursary Policy. Burs#ry8w2rd5 can be for upto 100% Df fees and addirional financial 3S5i5t3nce Is availablp for families awarded a bursary with c05t5 of educ3tional 51hool tylps. music and publlc examinations. It is the Governors. objective to sustain rhe5e levels by making additlOn31 resources avèilable from fund raisin2 attivities. Pollcyfor Settlng Senlor Staff Remuneratlom Pay levels for new tnembers ol the Serbior ManaBernent Team15Mn are determined by the Finance Committee. Finance CotTrrnittee a150 agrees any proposed changes to SMT salarles, including thè 2nnual pay award. STRATEGIC REPORT Review of Achievements and Perform¥llce for th Y Oblectlves for the Year Over the academic year 2024-202S, the primary objective5 were the successful completion of our151 inspection and pupll iecruiiment and retentlon following the announcernent of the imposition of VAT on Independent school lees. Alongside this, wp iontinued to embed aThd develop further our use of dlgit31 Èechnology in le?ming aThd to continue iwprovlng the learning ersvironment. particularly fDr pupils with SEND. 5trètegles to A¢hleve thE Yea￿$ Oblectlves For ihe ISI in5pe¢tion. the SMT had been working toward5 this for the previou5 twelve months. ensursng 311 pollcles and paperwork had been 5cruiini5ed and updèted, and thèt all siaff irainin8opportunitieswere used to improve their krbovAed8e and understandlng of whatto expecf. Work scrutinies were conductpd to revlew pupll progre55 and teacher feedback. Pupil and pafent surveys helped the SMT identify likely themes. Continued WDrk has been done on bringing the wider staff into the mHrketing work of the school, while further training tirnp has been used to develop staff skills on the use of dlgiral technoloey. Finallyi a fundralslng ball supported the Summer's development projecls, including the establishment of è SEND base in the Junior School. Operatlonal Performance of thE 5¢h¢)ol This year, Queen's Gate Senioi School averaged 34212023-24.. 3691 pupi15 and Junlor S(hool 8veraged 96 pupils12023.24.. 1121. At all entry polnts, we rnaint8ined similar application numbers to Ehe prevfous ye3r. Results at both A Level and GCSE were excellent. At A level, 95% of 8r3des èwarded were at A to C. with 30% at A• Erades. At GC5E, 51% of the resulis were 8raded A. to 7, with 29% at A, which we felt was a good performance given the cohort's ability range. Once again, the School placed imong the top ten schools in the tountry for our value-added 5core5. QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT) FOR THE YEAR ENDE031 AUGUST2025 On cornpletiDn Of their studies at Queen's Gate 411 ol the Sixth Form who had applled were p13ced zt Higher Educ3tion Institutions either in the UK or oversea5, rylost of whotn were 3ble t0 Secure places at their fir5t-¢hgice destinotion. Universities Chosen included Oxford, Cambridge, a range of other Russell Group InstltutioThs, a number of creatlve course5 and UScolle8es. The Ch3rity has thus achieved the yeals oblettives in this area.. maintaining its hi8h academic performance. The school has continued to emph3S15e the benefit Df co-currrcular activities for the gir15' pÈrsonal development and to Support positlve wellbeing. Lunchtime club5 included super-curricular options such as Robotics Club ind the School Journ31, creative pursuits and activitles purely designed to cfler è fun dlverslon. Musical opportunities included an array of choir5 3Thd eThsernbles, wh51e sport rem£in5 a real strength, wlth a wide-rangine curriculum offeriTr& as well a5 an outstaftding prograrnmp of additioTral activities, such as Fencing, K4rate and Kick-8oxin8. Dramatic perforMan￿S included a senior School exhlbition ol Shakespearean extrart5, and the Junivr School perforrnance of Aladdin. L4MDA held strong, with another year of excellEnt examination outEome5. Sch¢xJl irips were 8 regular fixture, both in ierms of local visits to our nearby rnu5eum5 and the LDndon theatres, and destinations further afield, Includlng a co-currlcul?r visitto Japan. Char1table work has remained z fundamental feature of life at Queen's Gate, with our continued support of seve¥al long. term partners. Th*se include hosting re8u13r vi51tors from Dur local blanch uf AgÈ UK for lunch, collating regular donations for the Kensington and Chelsea Foodbank, and participatinE in the Kids for Kids Christmas Carol Concert. The School Pyemlses Our premises goals this year were to vndertakÈthe renovatlon of the pupil dininE room and to estsblish a SEND spaie with room for both parent meetings and pupil interventions. In addition, a number of key oflices were redecorated. Volunteers Parents helped with khool irips and fundralsirng èctivitie5 durin8 the year, a5 well as offerin8 ￿reeT interviews, work experience and offering their expertlse through Wider World talks,. the Governors wouldlske to takE thls opportunity to say how mu£h we apprec￿te their continuing and valuable support for ourwork. Isi i#spt¢tion In Ilovember 2024 the S¢hool was delighted to h05t rep￿sentIt1Ves from the Independent Schools Inspe¢t¢rate Iisl). The opportunity to show off all th3t tnakes our school so special had been keenly awaited. Llnder the ISI frarnework in placE since 2023, schools no longerrecelveoverall judgements. Rather, Inspectors report on whether a School meets the expected ISI Standards in five key 8reas'. Leader5hlp and management, and Bovernanfe, quality of education, trzining recreatlon. pupils, physical and mental health aThd ernotional wellbein pupi15' 50Iial and etDnomic education and contribution tts society, and 5ale8uardin8. Queen's Gate met all stanLfards and wprp delighted by the myriad ol positive comTnents in our ynspectlon report, which include.. 'Pupils ère èt the heart of lÈaders' declsioD rnakin Ihe School'5 V15ion i5'ambitious for every pupil to develop lully whatever their starting point. 'Te?chers skilfully Zdapt les50n5 to the Theeds of pupils and respond to their interests and Questions, 'TeÈcheis throughoutthe School use their exiensivesubject knowledge io teachwell-planned le550ns which enable pupi15 to extend their knowledge and deepen their under51andin 'ftelationship5 between pvplls and stalf are positive è¢ros$ theschool. Pupllsfeel respected and they in turn respect each othe 'Le3ders have established a culture and currsculum which festers under5tandin8 and celebrates diver51t¢. Flnancral RevSEW Gross fees incrèased by 1.5% to £12.04m12023-24: £11.88ml reflecting the annual lee Increase of 4.1% but fall in average pupil Trumbers. The School had a financlal surplus for the year of £458,680 IZ023-24.. E489,8381. The increase in total costs rgely reflects additional teaching sèlary costs, although an increase in expenditure on the fabrlc of the buildlngs was also a factor. It is the pollcy of the Governors to continue ta bear down on costs wherever possible, whllst maintalnlng and enhancing the quality ol educ3tion afforded to the pupil5. QUEEN'S GATE SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE} GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORTI FOR THE YEAR ENDED 31 AUGUST 2025 Reserves Pollcy Over the medium t@rm it IS the PDlicy of the Governors to build reserves to covÈr the intere51 and tspltal repayrnents on th8 Barclay5 Bank loan relsting to the building5 hou51ng the Junior School at 125.IZ6 Queen's Gate, as well as to provide funds fDr the futufe development of the School. The increase in reserves of £458,680 during the year Is in line with this Investment Performance a8alnst Oblectlves The Charity's funds which are not required lor its operation in the short term are held on deposlt with the bank trr Invested in short term treasury deposits. In 2024-25, income of £248k was generated from its ￿5h resèrves durin8 this perlod of hiEher intetest rates. FundiaI51n8 Perforrnance In 2024125 É108,04612023124 £63,8961 wa5 raise(I lor the School from donations. Thi5 included donat¢ons to the Queen's Gate Foundation, as well asfund5 raised bythe PTAthrough 8 number of events run by thetn durlng theyeèr.Thegenerosity. enthu5i3sm 3nd commitment Btnong the parent body and alumnae remain hi8h and the level of donatlon5 15 expeded to hold up well. R15k Mana emeni Governors are responsible for the management of risks faced by the School and h3vÈ a risk management Strategy which tompri5es'. Regular review of the prlncipal risks and u￿ertaInt￿eS that the school fèces, the establishment of policie5, System5 and procedures to mltlgate those risks identified. and the implementotion of procedures designed to minimisÈ or manage any pot2ntial itnp3Ct on the S¢hool. should those risks m3teriali5e. Detailed consideration of specilic risks 15 delegated ro the SMT, with guidance and review by the relevant G¢)veinors. The School'5 Risk Reeister records the rlsks ih3t h3ve been Identified and assessed, together with the c)ntrols put in place to miiigate thÈsÈ rlsk5. The Risk Register is revlewed annually by the Full Governlng 8ody, 3nd changes made as necessary. Each Comrnittee of the Board èlso review5 those risks relevant to Its aiÈa of respDn5ibility at each Committee meetlng. The key tontrols used bv the Charity include., formal agendas lor 311 commiltee and Board aciivitv,. comprehensive strategic planning. budgeting £nd manaEemeat accounting.. established or8ani5ètional structure and lines of reportin formal written pollcies and procedures including S3fpguardingi #nd clear 3uthori5atron dnd approv31 levels. Through the risk mÈnagement processes est3bli5hed for the School. the Governors are 53t$5fied th81 the major risks identified have been adequately mitigated where necessary. It is rÈcognised that system5 can only provide reasonable but not absolute ?s$urance that major ri5k5 have been adequately m3naged. The Governors have identliied the following risks as mediuFn to hiEh risks fof the forthcoming ve?r and beyond.. FIna￿¢101 Rlsks The removal of the VAT exemptlon on independent school feÈs from January 2025, followed by the abolition of busine55 rates relief and the increase In Employer's National Insurance contribution5 from April 2025 all present a potential threat to future pupil number5 and the ability of the School to generate a surplus for futtsrt inwe5tThEnt needs, and to meet theterrns of the bank covenant. These ¢xtern81 factors have led to a reduction sn admlssions zcross the independent sector, and the School 15 no exception to that. Credit risk, which is moderate due to the international nature ol our communlty. Is rnitigated by the introduction ol a mDre robust, well-defined procedure IDr the iollection of all debts. Where the collertion ol debt5 remalns problernatic, these zre referied to a debt collection agency to recover on oyr behalf. QUEEN'S GATE SCHOOL TRUST LIMITED {LIMITED BY GUARANTEEI GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORn FOR THE YEAR ENDED 31 AUGusf2025 orher flnancial risks include future changes to ErnplDyer contribution5 into the Teachers Pension Scheme, a risk Eh3t has been mitigated by closing entry to the scheme to new joiTrer5 5incÈ September 2023. Interest late risk ha5 been miniwised followin8 the fi¥ing of the interest rateon the term loan, providlng cert3iniy on future repayments to be factored into financial planning. The monitoring of these T15k5 15 the respon51bllity ol the Finance Committee. Reputatlonal and Cornpllan￿ Risks Governors and stall are all aware of the pptentlal Impact on the School's reputatlon of an adverse PR event. The School has robust policie5, procedure5 and processe5 In place to ensure compliance in the widESt 5en5e. Safeguarding and health and safety are fundamental to the School's operèrion, and the welfare of pupils ènd staff 15 01 utm¢ist Import2nce. There are nomin81ed Governors with re5pon5ibility for oversight of 5afeguardlng and Health and safety. The School provldes regular tralnifiB to staff on compllan¢e matters, including the management of d2ta and avoidance ol data protectlon breache5. Poor performance and a¢èdefni£ results wfjll also have an impact on the reputation of the School. The Educatlon Commlttee continues to monitor and Support the SchDoI to continue tD dellver excellent results. Future Plan The Governors have IdeniifieLg the following key objectives whl¢h form the Core of the currefit Strategic Plan.. Govemance, Lpadershlp and Management To ensure that Queen's Gate has effecrive leadership and managetnent at 311 levels and that sultable and ongoing training and opportiJTrities for development are provided, as well as succession planning. Staffing Queen'5 Gate will continue to invest in and advance a talented, well-qu4lified and committed Staff, both teachinR and cperatlons 5tatt. A¢ademi¢ For many yèars, Queen'5 Gate has been respected for its academic results achieved in a nurturln8 environment where confidence 15 built and a lifelong Ipve of learnin8 is inspired. Inspired by ourtradltlt>ns, we will continue to offer an excellent ac3demic programme for all Qui 8lrls preparlng them on all levels to be plle¢tive and global citizen5. Pastoral Inspired by its tradirion ol excellent pastoral care, Queen's Gate wlll continue to develop its provSSiDn to ensure that 8irls feèl valued and supported and develop into confident youn8 women, re3dy to becom2 rèsponsible citizens In rhe world. Technology We recognise the importance of tefhnology today and for the foresee8ble future. Queen's Gate will continvÈ to upgrade and expand its technology to enstsre that the curricular 3nd adrninislrative goals olthe School are met. Admlsslons Queen's Gate will continue to seek io bulld and maintbin its enrDlment at all levels. desplte the evidentfinanci21 challeThges facing the sector.11s intake wlll ccntinueto reflect and beneFit from the richness Znd diverslty ol Its community by admitting pupils with a broad range of b8ck8rounds, talents 3nd interests but who share è common Boal of iommitment to learnln8 Extra6 requires us to report to you if, in our oplnion.. adequate accounting record5 have not been kept, or retums ade4uate for our audit have not bÈen recelved from branches not vlsited by us.. or the financial staternents are not In agreement with the accdunting records and return5,' or certaiTh disc105ures of director5, retnuneration specified by law are not made.. o we have not re¢eived all the inforrnatian and explanations we require for our audit. Responslbllltle5 of Governors As eKplainEd more fully in the GovernDf5' rp5ponsibllities statement, thè Governors (who are also the dlrectors of the charitable compally for the purposes of comp8ny lawl are responsible lorihe preparation of the financial siatements and for being satisfied that they glve a true 3nd f)ir view, and fw such internal Control as the Gllvernors detÈrmiThe Is neiessary to enable the preparètion of financial starements that are free from material Mi55tatement. whether due to fraud or Error. In preparingthe fin3nci315tatetnent5, the Governors arè responsible for assessing the chèritable company's bbilityto continue as a going concern, disclosin& 45 applicable, rTratters re13ted to Eoingconcern and using the golng concern b3si$ of accounting unless the governors either intend to liquldate the charitable company or to cease operatlOll5, or have no realistlc altÈrnative but to do 50. Auditorfs responsib51ities for the audit of the financial stalements Our oblectlves are to obtain ieasonable assurance zbout whptherthe financial statements as a whole are free Irom material misstètement, whether due to fraud orerror. and to 155ue èn auditor's report that Includ￿ our opinion. Reasonable 3ssuran¢e k 8 high level ol assurance, but is not a gu?r3ntee that èn audit conducted in accordance with ISAS IUKI will 3lway5 detect a material misstatemènt when it exists. Misstatement5 can 3rise from fraud or error znd ale considered material if, Indlvidually in the aggregète, they could reasonably be expected to Influence the economlc Llecisions of users taken on the bèsis of these financial Statements. A further description ol our respon5ibilifie5 for the audit of the financial staternent5 15 locèted on the Financial Reportin8 Council'5 website at.. httPs.'l/www.Irc.org.uklaudiLofsre5pon5ibililies. This descripiion form5 part of our auditor's report. Éxtentto which the audlt was consldered capable of detectinE irregularlties, Includln8 fraud The objectives of our audit, in respect to fiaud, 3re-. to identify and 8ssess the risks of material ffli55tatement ol the financial statements due tofraud., toobtain sullicientappropriate audlteiride￿Ge reEardingthe 35sessed ri5k5 of material misstatement due to fraud, through desi8nin8 and implementinEapproprlate response5.' and to respond appropFIHtelytDfraud orsuspected fraud identslied duriTr8 the audit. However, Ihe primary responsibility lor the preventlon and detection of fraud rests with both those charged with governance of the entity 3nd its rnanagemenl. li QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS Our approach was as follows.. We identified areas of laws and regulations that CDuld reasonably bp expocted to have a material effect on the finaniial starement5 Irom our general sectof experience, and through discussion with the Govemors. and other manè8ement las required by zudltinE 5tandardsl. and discussÈd wlth the Govtrntrrs, and other rnanagement the policie5 and prpcedure5 regardin8 compllance with laws and regulation515e¢ below),. We identified the following areas as those rn05t likely to h3ve such an effect.. hèalih 8nd safety. Generèl Dat Protection Regulation IGDPRI., fraud,. bribery and corruptlon, school in5pectlons, keepin8 chisdren safe ITh educatio (statutory 8uidancel, OBS chEcks and employment law. Auditing standard5 limlt the required audit procedures to idefttify non-compliance with these law5 aThd regulations to enquiry of the Governor5 and other management 2nd inspection of regulatofv 3nd legal correspondence, if any. The identrfied actual or susperted non-compliance wa$ not suNiciently Significant to our audit to result in Dur respgrsse beiThE idÈntifled as a key audit matter. We considered the legal and regulatory frameworks directly applicable to the financial stètEments reportlng ffamework (FR5 102. the Companies Act 2006 and the Charities Aci 20111 and the relevant tax compliance regulations In the UK.. We considered ihe nature of the chafit)blÈ company's operaiions. the control enviroTrment ènd fiDzncial performance. We communicated identified laws and regulations throughout Dvr team and remained alert to any indications of on-compliance throughout the audit-, We consldered the procedures and controls that the charitable company ha5 estab115hed to address risks identified, or that otherwise prevent, deter and detect fraud,. and how senior management monitors those procedures and controls. 8a5ed on thls understanding wp designed our aud*t procpdures to identify non-compliance wrth such laws and regulation5. Where the risk was considered to be hiEher, we pÈrformed audit procedures to addre55 each identified fraud risk. These pro¢edures included.. testing manual journals,. reviewing the financlal staterDent disclosures aTrO testin8 to supporting documentation* pÈrforrning analytical procedures,. and enqutring of rnahagement, and were designed to provide reasonablè assurènce that the flnanclèl staternents were free from fraud or erfor. Owing to the inherent lirnitations of an èudit, there 15 an unavoldable rf5k ihat we rnay not have detected some material mi55taternents in the fin3ntial statements, even though we have properly planned and performed our audit in accordance with auditing Standards. For pNèmple, the further retnoved non-cornpliarnce wlth law5 and regulations lirrp6ularitiesl 15 from the events and transaction5 reflected In ihe financial Statements, the le55 likely rhe inherently limited procedurès required by 3uditing st3ndard5 would Identify it. The risk 15 also greater regardifi8 Irregularitie5 occurring due to fraud rather than Èrror, as fraud involves intentional concealment, forgery, collusion. omis$ion or rnlsrepresentation. We not responsible for preventing [￿n-(0￿P113￿ce and cannol be pxpected to detect non-compliance with all laws ènd regulations. Use af our report Thi5 rep)rr 15 made solely to the chariiatjle cornpan¢s members, as a body, In Oieordance with Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work has been undertaken so thatwe might slate tt> the ch3rit?b12 CDTnpany's members those matters we are iequir¢d to state to them in an Auditorf5 Repoit and for no other purpose. To the fullest extent permltied by law, we do not aicepi or assume resportsibility to anyone oiher than the charitable company and the charirèble cc>mpany's members a5 3 bo or our audit work, for this report, or for the opinions we have formed. Mark Cumm Senior Statutory Auditor Fur 2nd Dn behèlf Df TC Group statutory Auditor Office.. Ste nlng West Sussex Date.. 12 QUEEN'S GATE SCHOOL TRUST LIMITED {UMtTED BYGUARANTEE} STATEMENT OF FINANCIAL ACTIVITIES IINCLUOING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST2025 Notes Vnrestrftted fvnds Restrtrted fvnds Total 2025 Total 2024 INCOME FROM.. Qonètions and legacies Investments Charitable activitie5 Other Sncome Total Income 108P46 247,994 11,987,899 42,688 12,386.627 lo8￿6 247.994 11.987,899 42,688 12,38fj.627 263.994 IL816.977 ZL945 11166,812 EXPENDITURE ON.. 11.927,947 11.927,947 11.927.947 11.9Z7.947 11.676,974 11,676,974 Total *xpendilur• Net Intome and movement In fund5 458,680 489.838 Fund balantes brought forwaid 9,195.536 163,045 9.358,581 868,743 Fund balan￿$ carrled forward 19 9.654,216 163,045 9.817.261 9.358,581 All incorne and g3lns for the year are reco8nised above. A￿1 of the School's activities are ¢lassed as wntinuin& The Statement of Financial Activitie5 also complies with the requirements for èn ineome and expenditure account under the Companie5 Act 2W& 13 QUEEN'S GATE SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI BALANCE SHEET ASAT31 AUGUST2025 2025 2024 Note5 FIXEQ ASSÈTS Tansible a55ets li 12,183.257 12,378,560 CURRENT ASSETS Debtors Cash at bank and in han 12 3,386,730 5.56Y,015 8,955,74S 666,594 6,491,812 7,158,406 CURRENT LIABILifiES Creditor5 duÈ within one year 13 17,466,128) 15,832,876) NET CURRENT ASSETS 1,489,617 1,325,530 TOTAL ASSETS LESS CURRENT LIABILITIES 13,67ZM74 13.704,090 LONG TÉRM LIABILITIES Credltors due 3fter oneyear 14 13,855,6131 14.345,5091 9,817,261 9,3S8,581 REPRESENTED BY: RESTRICTED FUNDS 18 163,045 163,045 UNRESTRICTED FUNDS General funds Designated funds 9,542,829 111,387 9,064.649 J30,887 9,654,216 9.195.536 9.817,261 9,358,581 The accounts were approved by the Board. and siened on their behalf 21 M3 Mrs Reica Gray ChaiT of fjovernors Mr Paul Govern Re815tered Compèny number.. 00640464 IEng1and and Wales) Fiegistered Charity number.. 312724 14 QUEEN'S GATE SCHOOL TRUST LIMITED {LIMITED BY GVARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST2025 202$ 2024 Note$ Cash flows from operatlng activitie5: Net income forthE year Adjustments for: Depreclation charges Dividends, interest and rents from investments Incre3S2 in debtors Increase in credilors 458,680 489,838 li 393.180 IZ90.6821 11720,1361 1,606,458 440.567 1285,9391 1303,6971 1,433,924 12 13 Net Cash provlded by operatlng actlvitle5 1552,5001 1,774.693 Cash flows from Investlng actlvltte5 Dividends. interest and rents from invesiments Oisposal of tangiblE fixed assets Purchase of tangible fixed a55et5 Net Ush used In Investlng artlvltles 290,682 18,470 1216,3471 285.939 9,031 1495,8341 li li 92AQS 1200,8641 Cash flows from flnancing actbvltle5'. Repayments of baTrk 5oan Net cash u$ed in linancing actlvltles 1463.1021 1293,255 1463,1021 1293.2551 ChanEe In cash and c•sh equlvalents In the ye Cash and cash equlvalents at the beglnnlng of the year Cash and ¢a5h equlvalents at the end of the year ATralysls of ¢a$h and cash equfvalents Cash at bank and in hand Total c&sh and cash equivalents 1922.7971 6.491.812 1.280.S74 5.211,238 6,491.812 5,569,015 5,569,015 5,569,015 6,491,812 6,491,812 Net cash At oiloy124 Cash flow At 31108125 Cash Cash at bank and in hand 6.491,812 6,491.812 1922.797) 1922.7971 5,569,015 5,569.015 Debt tkbts falling dve within I year Debts falling due 3fter l ye4r 1463,1021 14.345.509] 14,808.6111 1,683,201 126,7941 1489,8961 13.855,6131 14,345,50YI 1,223,506 489,896 463.102 1459.fj951 TDtal net cash 15 QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 STATUTORY INFORMATION The School 15 a chèiitable comp3ny, litnit?d bv Bu8rantee. registe￿d In England and Wales. The reglstered offlce. comp3ny number and chèrity number are detHiled In the Legal 3nd Adrninistrative Information. ACCOUNTING POLICIES 2.1 Basis of preparation The financial statements have been prepared under the Cotnpanles Act 20(kn and In accordance with the Charities, Statement ol Recotnmended Practice ISORP IFRS10211 and Fin3ncial Reporting Standard 102. The rharitable company meet5 the definition of a publie benefit entity under FRS102. Assets lièbilitie5 are initially reEogni5ed at cost or transartign value ￿nlesS otherwise stated in the relevant accounting pollcy. There are no material uncertainties about the School'5 ability to continue 35 a going concern. After reviewlng the School's loreca5t5 and projeEtions, the Governors have a reasonable expectation that the Schoul bas adÈqu3te resources to continue ID operational Èxistence for the foreseeable luture. The School Iherefcire continue5 to adopt thÈ Boing concern basis in prEparing its financial statements. The financial staiernents are prepaied In sterling, which is the functional turrency of the charitable company. Monet8ry arnount5 in these financial statement5 are rounded io the nearest pound. Z.2 Income Fees receivable ind charge5 for ser¥ice5, less any allowances, schglarships 3nd bursaries granred by the School agBinsi those fÈÈs ale accounted for in the period in which the service 15 provided. Where fees are received for a future service period rhey are Included In (Jeferred income, intluding rhose prepiid for the forthcoming ademic year. Investment Income 15 accounted for on an 3ccruals basis. Donations, legacies. grant5 and other voluntary intome are accounted for a5 and when entitlement arises, the amount can be reliably measured and the economic benefit is con5idpred probHble. Where a donor or an appe31 has Imposed restrSction5 thE incorne is ¢¥edited to 6 restrictÈd fund. other incomelothei rrading income is èccounted for on an accruals basis. 2.3 Expenditure Expendlture is accounted for on an 3ccruals basis Wlth irrecoverablp VAT included with the item to which it relates. Govertiance cos15 include those costs assoclated with meeting the constitutional and statutory requlrements of the charity and include the audiifees and costs linked to the str8ltgic tnanagement olthe charity. All Costs are allocated betw2en expenditure cateBories anddepartment50n a basisdesisned to reflectthe use of the rÈsource. Costs re13tingto a particular activity are allocated tjirectlv. 16 QUEEN'5 GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 ACCOUNTING POLICIES Icontlnuedl 2.4 Tanglble fixed assets and depreci8tlon Thngible fixed assets other than freehold land are ststed at cost le$5 depreciation. Depreciation is provlded at rates calculated to write off the c05t less estimated residu31 value of ezch asset Dver its expected useful life as follows.. Freehold18nd is not depreciated Freehold property Fixturp5, flttings and equipment Computer equipment 2% 5trai8ht IlThe le¥cluding land of £4.25ml 15% reduc4ne balance 20% Straight line Capital expenditure is accountÈd for on an accruals bas1S With irrecov2rable VAT induded wr(h the itern to which it relates. Mlnor Items of capit31 expenditure ol up to £l,OCA) 2re written off to the Statement of Flnancial Attnlitles as incurred. 2.5 Leaslng and hlre purchase ¢ommitments Rentals paid under operatlllE leè5es ère charged a8Bin5t in¢ome on a strai8ht line basis over the period ol thÈ lease. 2.6 Pensions The majority of teaching staff are members of the TeaclErs' Pension Scheme ITPSI, a defined benefit schemÈ administeied by theTeacheis' PensK>n Agency. Contributions tothe scheme are charged to ihe 5taternent of Financial Actwitie5 a5 they fall due. The TP5 Fs ¥Th unfunded scherne. Contrlbutions a'pay as you go. basis are credited to the Exchequer under arrangements governed by the Superannuation Act 1972. ActU3rial valuations ère carried out by the GovÈrnment'5 Actuary Department. Under thp definitlons set out in FR5 102 the TPS 15 a rnultl-employer pensk>n scheme. The charity 15 unable to identify its share of the underlying Inotlwall assel5 and I￿1￿litieS of the 5theme. Accordingly, under FRS 102 the 5rheme 15 aCCOUllted for 45 If rt were a definÈd contributlon scherne. The charity a150 COntrilMte5 to two defined contribution s£hernes, one for those teacher5 nDt in TPS. and a￿ther fDr on-teachln8 Staff. 2.7 Cash at bank and In hand Cash ai bank and in hand include5 lash 3nd Short term highly Ilquid investments. The Governors seek to use Short and medium term deposits where possible to ma¥imb5e the return on monies hÈld at the bank and to manage c35h flow. 2.8 Debtors Trade and otherdebtors are iecognited at the settlement amount due. 2.9 Cveditor5and provlslorb5 Creditors and provisions are recognised where ihÈ charlty has a present obligatlon resulting from a pèst event that will probably result in a transfer ol funds to a third party and the amount due to Settle the obligation can be measured or e5timatÈd rollably. 2.10 Critical accountln8 estimates and judgement5 In the application of the charitws accounting policie5, the Governors are requlrod to make judgements, estirn3te5 and 3SSUrnPtions aboutthe carrying amouni of asset5 and li3bilitie5 that are not readlly apparentfrom other sources. The Èstimates and a550ciated assumption5 are based on historical experience and other facrors that are considered to be relevant. Actual results may differ from these estimates. The e5timate5 and underlyin8 assumplions are reviewed on an ongoing bB515. Revislons to accounting estimates are recogni5ed in the period in which the estimate is revised. The Governors do not CDn51der that there are any Critical e5titnates or areas ofjudgementthat need to be brought to the atteniion of the reader5 of the financt31 statefflents. 17 QUEEN'S GATE SCHOOL TRUST LIMITED {LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 ACCOUNTING POLICIES Icontinuedl 2.11 Fund accounting Unrestrictèd Eeneral fund5 cornprise those lunds whlch can be Used in accordance with the charitable Dbjetts at the discretioTh of the Governors. Design3ted funds comprise rÈ£Èrves which hove bÈen allocated by Governors, to be used lor è spectlie purpose. Resirictèd funds are th05E f￿ndS th6t can only be used for particul)r restricted purposes in a¢tordance with the W15hes of the donor or when fund5 are raised for particular restricted purpose5. TURNOVER The turnover of the School is wholw attributable to the Dbjects of the Charity a5 Stated in the Governors, Report and is earned entirely within the UK. NET INCOME This is slated 8lier charging.. Total 2Q25 Total 2024 DepreciatlDn A￿dItOrS. iemuneralitrn- audit 5ÈrvitÈs Auditors, remunerariDn non-audit Services 393.180 15,100 12,735 440.567 17,640 13,806 TAXATION The charitable company 15 registered 35 a ¢harity and all of it5 income f8lls wlthin the exemptions under Part 11 of the Corporation Tax Art 2010. DONATIONS AND LEGACIES Unrestiicted Restrittèd Total 2025 Total 2024 Donations 108,046 108,046 63,896 108,046 108,046 63,896 Duringthe year Governors made donations to the sihotrl through variDUS event5 and activitie5, the nature of whlch could not be quantified. INCOME FROM INVESTMENT5 Unrestr￿ted RÈstrlcted Total 2025 T0131 2024 Interest 247,994 247,994 263,994 247,994 247,994 263.994 18 QUEEN'S GATE SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 INCOME FROM CHARITABLE ACTivmES 2025 2024 Gross School fee5 Less.. Bursaries. scholaiships )nd dlscounts Net School fees Add.. Registration fees Extras income 11038,407 11,884.740 1938,0721 11,100,335 1824.6261 11.060,114 49,469 838,095 59,914 696.949 11,987,899 11,816.977 ANALYSIS OF EXPENDITURE Staff costs Depreciatlon otheT Costs Total 2025 Total 2024 charitable expendlfure Educatlon Teaching IAlelfare 6.975,276 135,541 102,402 962,421 8,175,640 170.801 424,463 565,487 1.4S2.806 916,371 3,359,127 7,570.540 701028 1.777.587 1,878,792 11,927,947 7,529,705 686.235 1.617,950 I.843￿84 11,676.974 Premises Support and govErll4nce Total charitable expenditure 222,379 393,180 Total expenditure 8.175.640 393.180 3,359,127 11,927.947 11,676,974 Analysls of Support and governance costs: 2025 2024 Auditors. remunErBtion for audii services Total governance costs 15.100 15,100 17,640 17.640 Jpport COSts'. Auditors, remuner3tion fDr non audit sÈrwices Leg31 and professional fees relating to support pport staff wages. national insvran¢e knd pensron Loan interest Other support Costs 12.735 IS5￿99 962,421 264.315 468,622 13,806 89,764 962,624 235,231 524,019 1,878,7Y2 1,843,084 19 QUEEN'S GATE SCHOOL TRUST LIMITED ILIMITED BY GUARANTEE} NOTES TOTHE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGusf2025 10 STAFF C05fS The average monthly head count was 114 stÈff12024.. 112 staff) and the averaee monthly Trumber of full time equivalent employees during the year was.. 2025 2024 Teaching Prernises Support 85 83 15 14 loo 104 The aggregzte payroll cost5 lor the ye3r weie as follows.. 2025 2024 Wages and salaries 50¢ièl security cost5 Pension cosis 6,292,498 740.615 1.142,527 8,175,640 6,237.565 687.359 1,118.238 8,043,162 None ol rhe GovÈrnor5 received any rernuneraiion or other benefit5 from the School of any connected body. There were no Governors ÈKpen5es reimbuwsed in the current or prior year, Stalt earning in extes5 of E60,000 per annum in the followng bands ale.. 2025 Number 22 2024 Nuwber 13 £60.ODO- £69,999 £70,000 £79.999 £80,0ffl - f 89,999 £100,000 £109,999 E120,000- £129,999 Of the employees whose emolument5 exceed É60,000, 3512024., 261 have retirement benefits accruing under defined benefit5 Sche￿eS and none 12024.. 11 hzve benefits aciruing uniler 8 defined contribution scheme. Contribution5 payable by the School to those schemes for hi8her paid errsployees wÈre'. 20ZS 2024 Defined contriburiofj schetnes Defined benefits schpmes 8,342 349,968 358.309 468,897 468,897 The key manaeemeni personnel 15Mn ef the School are detbilÈd ¢n the Governors, REport and Legal and Administrative Infortnation. There were 8 employees in the SMT during the year Idecreased from 10 in 20241. 2025 2024 Aggregate ernployee benefits of key man?gement personnel ITntludinE employer'5 national in5urancÈ. employers pension ionrributions and settlements (the terms of which are confidentièlll. 935,750 1,167,448 Redundancy costs totalled É21,00012024.- Enill in the year. 20 QUEEN'S GATE SCHOOL TRUST LIMITED ILIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 11 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES-YEAR ENDED 31 AUGUST 2024 Unre5trlcted funds Restrlrte funds Total 2024 INCOME FftOM-. Donatiot15 ènd leg8cles Investments Chwritable èClivrf(ies Other income Total Incorne 63,896 263,994 11.816,977 21,945 12,166,8J2 63,896 263,994 11,816.977 21,945 12,166.812 EXPENDITURE ON.. Charitable 3ctDiitle5 Total experKliture 11,676,974 11,676,974 11.676.974 11,676,974 Net income aThd net movemgnt In funds 489,838 489,838 Fund balance5 brought forward 8.7D5,698 163,045 8,868,743 Fund balancesat ¢>rried foiward 9.195,536 163,045 9,358,58L 12 TANGI8iE FIXEDASSETS Freehold Flxtures and Computer Equlpment Tot31 Propertv Fittings Cost At I September 2024 Additiuns 15,376.868 1,034.952 38,846 66,2341 1,475,635 152,557 1503,7731 1,124,419 17,887,455 24,944 216.347 1570,0071 17,S33,795 Qisposa15 At 31 August 2025 15.401,812 Depreclatlon At I September 2024 Charge for the yeèr Eliminèted on disposal At 31 August 2025 3,664.552 222,379 731,125 44,348 154,5871 720086 1,113,218 126.453 1496,9501 5,508,895 393,180 1551,5371 5,350,538 3.886.931 742,721 Net book value At 31 August 2025 At 31 August 2024 11,514,881 286,678 381.698 12,183,257 11,712,316 303,827 362,417 12,378,560 A periodic valuation of tlTÈ tot21 frèehold property owned by the School, carried out in November 2020 by Knight Frank valued the propertie5 at £39 rnillion. The School does not adopt a revaluatlon pollcy and th*5 valuation was Dot included in the figure5 above. 21 QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TOTHE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 13 DEBTOR5 2025 2024 Fee debtors PrepayrDenlS and accrued income Other debtors 3.139,749 208.963 38,018 3,386,730 18,540 576.777 71,277 666,594 In 2024 the sihool fee invoiees for ihe Autumn 2024 term were processed in September 2024 therefore not included in the year end fee debtor5 balance. 14 CREDITOR5.. within one year 2025 2024 Bank loan5 3nd ovÈrdrafts15ee note J51 Trade ¢reditOlS 489.896 463,102 221.769 258.539 Other creditors Accruals and deferred income 166.651 171,333 335,080 2,433,402 2,041,830 166,360 5,832,876 486,577 3,698,375 1,513.256 852,834 Fees in advance Deposits other taxes and 50cièI securily 7A66,128 Fee5 In 3dvance represent £3,698,37512024.. £182,727) for feES received in advance in relation to the Autumn term 2025. and £nil12024= £2,250,675) in respect ol an arrangemÈnt which enabled parEnts to pay fee5 foi the lull 2024-25 academicyear in advance. 15 CREDITORS.. due after one year 202S 2024 Bank 5oans 3,855,613 4,345,509 3.855,613 4,345,509 22 QUEEN'S GATE SCHOOL TRUST LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGU5f 2025 IS BANK LOANS 2025 2024 Bank loans are wholly repayable In in5tèltnent5 as follows.. Les5 th2n one yÈar Ir¥ Tnore than one year but le55 than two years In more than two years but less th3n f1ve years In more than fi've ye4rs 489896 519009 1,749.148 1,587,456 4,345,509 463,102 489,916 1,650,427 2,205,166 4,808.611 The lorTrg-term loan of £4,345,509 15 secured by 3 first legal Charge over part of the freehold properly of the School. The period of the loan from Barcl8ys Bankls 25yeèrs. repayments olthe capital commenced InJanuary 2010. Interest on the loan has been fixed Èt a rate of S.85%. 16 PENSION COMMITMENTS The School parricipètes in theTeathers' Pension Scheme I'theTPS"I for the rn3jority of Tt5 teaching StÈff. The pen51on chargè for rhe year include5 tontribuitons payable to the TPS of £949.71612024.. £922.4361 and at the year-end £97,42112024.. E116.5681 was accrued in respect of conlriburions to th1s scheme. The TP5 15 an unfunded multl-Èmployer defined benefits pension scheme Eoverned by The Teachers, Pensions Regulation$ 2010 las amendedl and The Teachers, Pension SchemÈ Regulations 201413$ amended). Members contribute on a "p3y as you ga" basis with contribution5 IrorD members and the etnploypr beSng credited to the Exchequer. Retirement and other pension benefits are paid by publi¢ funds provided by P3rli2ment. The employei contrlbutlon rate is Set by the Secretary ol State following scheme valuations undertaken by the Government Actuary's Department. The m05t recent 3Ctuarial v31uation otthe T￿￿ was prepared as ar 31 March 2020 nd the Valuation Report WB5 published in October 2023. Following the Mccloud judgement, the remedy proposed that when benpfits bÈ£ome payable, ellgible members cèn 5elecl to re¢elve them from eithÈrthÈ reformed or legJcv schemes for the period l Apiil 2015 to31 March 2022. The actuaries h8ve6ssurned that member5 are likelytoch095e the option that provides them with the Eieater benefits, and in prepèring the 202D valuation has valued the'8re?ter value. benefit5 for groups of relevant members. The ernployer conrrlbuiioTr ratefor the TPS is 28.6%. and employersare 3150 required topay a scheme )dminlstr8tlon levy of 0.08% giving 3 tolal e￿Pl0Yer contribution rate of 28.68 Since September 2023, the School ha5 no lonÈer been enrollinE teathine staff Inio TPS. All Dewteacher5 are enrolled into a new Defined ContributiDn IDCI scheme adfflinistered by Royal Lorbdon, Existing teachers may also move from TPS into the new scheme at any time. The School contributes up to 20% into the scheme, but 3150 offers the flexibility ol reducinE the employef'S contribuiion to IZ% or 5%, enabllni staff to take up to 15% in addirional gross salary. Employer contributions to thi5 srhetne were £180,65612024.. £114,462), and at year end E21,07612024.. E12,6941 wa$ 8¢t¥ued in respect of total contributions due to this scheme. ThE school also contributes to 2 DC scherne for non-te3chin8 St3ff administered by The Pensions Trust. Ernploypr contribution rates are either 5% or LOX, according to 5pTriorlty. Employer contributions payable to the scheme were £84,15512024.. £81.2531, with £7,45412024.. £10,512) was èccrued èt year end in rpspecf of tot31 contrlbutions due t¢ this scheme. 23 QUEEN'S GATE SCHOOL TRUST LIMITED (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 17 SHARE CAPITAL AND CONTROL The charity is limited by guarantee and does not have a share capital. In the event of a wiading up each rnEtnber guarantÈeS to contribute èn amount of no rnore rhan £1. 18 SUMMARY OF FUND MOVEMENTS Balance at I Sept 2024 Income Expenses Transfers Balance at 11 Aug 2025 Vnrestricted funds General funds Designated fund5 9,064,649 130.887 9,195,536 12,386,627 111,902,447) 119,5001 11,927,947) 9,542,8Z9 111,387 9,654,216 12.386,617 Restri￿ed fvnds aueen's Gate Foundètion Capital Queen's Gate Foundation B￿rSari&S 47,961 115,084 163,04S 47,961 115,084 163.045 Total funds 9,358,581 12.386.627 111,927,947) 9,817,261 t)esignated funds De5i6nated funds comprise the remaining arnount of the legacyfrom Miss Elizabethde Leeuw rÈceived in 2016 whith was reduced by a trall5fer Df f￿ndS ro the Gerneral Funds equivalent to the costs of thè stalned-gla55 window amouTrting to E59.031 which were capttali5ed in 2020 and 202L. Flestricted funds Re51rictÉd funds comprise don)tions received less expensps incurred in relation lo the Queen's Gate Foundarlon, which was launched in 2007 to raise funds for capital project5 and the provision of bursarles. 24 QUEEN'S GATE SCHOOL TRUST LIMITED {LIMITED BY GUARANTEEI NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2025 19 ANALYSIS OF NET ASSETS BETWEEN FUNDS 31 AUGUSf 2025 UnrestrSrted general funds Restrlcted fJnds Deslgnated fund5 Total Tangible fixed èssets Current assets Creilitors '. less than one year Creditors ovÈr one year 12,183,257 8.681.313 17.466,1281 13.855,6131 9,542.8Z9 12,183,257 8,955,745 P,466,1281 15,855.6131 9,817,261 163,045 111,387 163.045 111,387 31 AUGUST Z024 Un￿trICted general funds Restrlcted f4bnds Deslgnated funds Total Tanglble fixed £ssetS Current a5set5 CrÈditors .. less than one year Creditor5 over one year 12,378,560 6,864,474 15.832,8761 14,345,509) 9,064,649 12,378.560 7,158,406 15,832,876) 14.345.509) 9,358,581 163,045 130,887 163,045 130,887 20 RELATEO PARTIES The SchoDI has taken advant3ge of thp exemption5 vndpr the Charitte5' St3tement of Recornmended Practice ISORP IFRS 10211 not to di5cIDse 5ervites provided on o voluntè¥y basis by Governot5. contrècts of employment between the SchDoI and its employees. and the repayment of out-of-pocket expenses where the Governors have acted as agent for the school. During the ye8r the school paid Bright Le>d Limlted a sum of £45012024.. £2,508) for the provision of a coad)in8 programrne for one member of staff, a company which is owned by one ol the Govprnors. 21 LEASE COMMITMENTS At 31 August 2025 thÈ school had total commitrnent5 under non-cancellèble operatine leases ès follows.. 2025 2024 Within one ye3r BetweEn one and five years 4.428 5.535 9,963 4,428 9.593 14,021 25