The Francis Holland (Church of England) Schools Trust (Company Number 2579811 (Registered Charity Numbor 3127451 Annual Report and Financial Statements Year ended 31 August 2025 *AEUN5P4Z* 2710112026 COMPANIES HOUSE A04 The Francis Holland (Church of England) Schools Trust Annual Report Y•ar ended 31 August 2025 Contonts Registered office and advisors Membe¥s and Officers of the Council Council Report (incorporating the Strategic Report) 3-13 Statement of Trustees, Responsibilities 14 Independent Auditor's Report 15-17 Slalemenl of Financial Activities 18 Balance Sheet 19 Cashfl¢)w Slalement 20-21 Notes to the Financial Slalemenls 22-35 The Francis Holland {Church of England) Schools Trust Registered office and advisors Registered Office: Francis Holland Ichurch of England) Schools Trust 35 Bourne Street London SW1W 8JA Bankors: National Westminster Bank PLC 69 Victoria Street London SW1E SNA CCLA 1 Angel Lane London EC4R 3AB Sollcltors.. Veale Wasborough Vizards Orchard Court Orchard Lane Bristol. BS1 5WS Auditor: Haysmac LLP 10 Queen Street Place London, EC4R 1AG Insurers." Zurich Insurance PLC The Zurich Centre 3000 Parkway Whileley Fareham Hampshire P015 7JZ Investment advisors: Ralhbone$ Investment Management 8 Finsbury Circus London, EC2M 7AZ The Francis Holland (Church of England) Schools Trust Council Report (incorporating the Strategic Report) For tho y&ar ended 31 August 2025 MEMBERS OF COUNCIL The members of Council during the year and since the year end. wth the committees they attend, are set out below". Mr P Sherrington MrA Fincham Mr S Andrews Mis F Angel Dr F Ba8wuah Dr C Barker Mr M Cuthbert Mr O Davis Mrs N De Renzo Ms N Du Preez Mr D Faber Prof C Gwenlan DrSHay Mr O Purcell Ms E Regina Ms K Von Malaisé Revd Dr A Walker Ms J Woodham-smith Ex-officio. all Chaiman Deputy Chairman The following changes lo membership have occuired since 1 September 2024.. Mr S Andrews Mr O Purcell Ms K Von Malaisè Mr O Davis Mrs S Nedas Mr D Faber Mrs F Angel Appointed 5th December 2024 Appointed 13th December 2024 Appointed 18th March 2025 Appointed 16th April 2025 Resigned 31st August 2025 Appointed 1st September 2025 Resigned 6th October 2025 OFFICERS The Heads K C Woodcock PGCE. PGCE, BA- Francis Holland Reg&nl's Pafk A C Haydon PGCE, MSC, PGDip - Francis Holland Sloane Square S M C Dixon PGCE, MA- Francis Holland Preparatory School Chief Operating Officer G T D Wilmot BA ACA until 31sI August 2025 S C Lamb from 1st October 2025 Company Se¢￿tary G T D Wilmol BA ACA until 3191 August 2025 S C Lamb from 1st October 2025 1- Education C¢)mmrttee 2- Finance and Estates Comrnittee 3- Governance and Nominations Cornmittee 4- Human Resources and Rernunerats"on Comrnittee S- Safeguarding Sub-committee The Francis Holland (Church of England) Schools Trust Council Report (incorporating the Strategic Report) For th• yoar ended 31 August 2025 COUNCIL REPORT The Twenty-third Report of the Council lincorporaling the Strategic Report) for the year ended 31 August 2025 will be presented al the Twentseth Annual General Meetin9 to be held al Franus Holland Preparatory School in Chelsea on 19th March 2026. STRUCTURE. GOVERNANCE AND MANAGEMENT The Charity Founded in 1878, Francis Holland (Church of England} Schools Trust I"The Trust'} is registered with the Charty Commission (charity no. 3127451 and as a company limited by gvaranlee Ino. 2579811. The Trust oversees three schools.. a senior school al Regent's Park lesl. 18781, I'Francis Holland Regent's Park"), another at Sloane Square lest. 1881), I'Francis Holland Sloane Square.) and a Preparatory School in Chelsea I"Fran¢is Holland Preparatory School'l. which relocated from the Sloane Square sile lo its new premises in September 2024. The Trust owns a subsidiary trading company FHS Inlernalional, Company number 12161646, incorporated in the England and Wales with share capital of £1. The registered address is 35 Bourne Street, SW1W 8JA. The accounts of the company are immaterial. Consolidated accounts are not prepared. Governing Document The Trust is governed by the Memorandum and Artides ofAssocialion most recently amended on 19 July 2019. Governlng Body The Trust has a single goveming body, the Council. responsible for all three schcx)Is. The Governors. a5 the charity trustees and directors of the charitable company, are legally responsible for the overall management and control of the schools. Council ean consist of up lo ￿entY-foUr Governors, depending on the needs of the Trust and the expertise required to successlully deliver the charitable objects and the Trust's strategic objectives. Current membership of Council is detailed above. Recruitment and Training of Governo The Council's stsnding Governance and Nominations Committee is responsible for feeruiling potential Governors. wi(h vacancies being identified through a skills audit of current tru51ee5 and the expertise needed lo support luture strategic priorities. Upon appointment. new Iru51ees undertake a lail0￿d induction programme led by the Clerk and Advisor to Council, including meetings wrth the Heads and Chief Opeialing Officer, tours of all three schools, and targeted training sessions, with ongoing professional development offe￿d through regularworkshops, seminars, and olhertraining opportunities. Governors are strongly encouraged lo participate in internal and external training that supports the effectNe fulfilmenl of their responsibilities. Oryanl$atlonal Management 'The day-lo-day education and pastoral eare of pupils is delegated to the Heads and the Senior Leadership Teams of each of the schools. Responsibility for the Trust's finan¢ial position and operational aclivilie5 supporting the principal activity of the Twst is delegated lo the Chief OpeTaling Officer. The Governors meet regularly throughout the year. During the year under review, Council Met on five occasions. Thi$ included an extraordinary meeting (September 20241, three temity Council meetings {Decembei 2024. March and June 20251. and a strategy away day (April 2025). FOT matters concerning the Trust other than those for which Ihe Heads are responsible, the Governors have established committees with specrfic objectives., a minimum of Nvo Governors sit on exh committee and either pass down decisions lo the Heads under delegated authority from the Governors, C￿ refer matters for decision lo Council. The Committees meet lenmly and consist of the following= Education Safeguarding (Education sub-committee) Finance & E51ates Governance & Nominations Human Resoufces and Remuneration The Francls Holland (Church of England) Schools Trust Council Report lincorporaling the Strategic Reporti For the year ended 31 August 2025 In addition to formal meetings. Governors undertake in-per50n school visits covering poI￿Y in praclice. strategic or development priorilies, or infomial engagement - and ale encouraged to attend events and meet stakeholders.. collectively, they made over 100 such visits during the year. The Trust sets remuneration (or ils Officers lo provide fair, responsible, and performance-enhancing incentNes, reviewing the policy periodically with reference to other independent schools and relevant market conditions. Governors are not remunerated. Stak8holders and Governor Duties- Section 172 of the Companlos Act 20026 The Council recognises Ils responsibilities under Section 172 of the Companies Act 2006 and considers the interests of pupils, parents, staff, alumni, local communities, Suppliers, and the Church of England in all major dectsions. The Council regulaily reviews the Trust's principal stakeholders and how the Trust engages wrth them. The stakeholder voice 15 brought lo Council both directly ané through ils Sub-committees via information provided by management as well as direct engagement wrth stakeholders. The relevance of each 5t8keholder group may increase or decrease depending on the matter or issue in question. so the Council seeks to Consider and balance the need$ and priorities of each stakeholder group during i(s dis¢u$sions and as part of its decision making. Prin¢ipal Risks and Uncertainties The Coun¢il is responsible for overseeing tho risk management proc￿$ conduded by th8 Trust. The principal risks to which the Trust is exposed are considered to be.. The health and safety of pupils. staff and volunteers The financial sustainability of the Trust. particularly in light of rttenl challenges fa¢ing the independent $¢hools sector The continuity of education provided by the Trust The safeguarding of the Trust's information assets, IT systems and the personal data of students, staff, and stakeholders from cyber threats The reputation and brand of the Trusl The Heads and Senior Leadership Teams, together wlh the Chief Operating Officer, support the Council in managing these risks. The Council and ils Commrttees review risk at every meeting. When new or emerging risks are identified. they are referred to the Committee best placed to assess them, based on its expertise, and to establish the appropriate systems and controls for their management. The risk manag￿ent strategy includes.. An annual review by Council of the risks facing the Trust Regular reviews of risk by each Commthee The establishment of systems and procedures to Mil￿Ote identified risks The implementation of processes desgned to minimise the potential impact on the Trust should those rysks malerialize Key conlrols include". Statutory vetting procedures for the protection of vulnerable individuals Formal wrrtten procedures and policies Structured agendas for all Committee and Council aclNty Detailed terms of refe￿nCe for all Committees Regular strategic planning, budgeting and management accounting Clearly defined authorizalion and approval levels Continuous monitoring of risks. the risk profile document. and the overall effectiveness of the risk management process The Governors have assessed the major risks that the Trust is exposed lo and are satisfied that systems are in place lo mitigate the Trust's exposure lo the major nsks. Given the current climate in the independent sector. the Tru51 continues lo closely manage ils financial position and avail i(seW of all opportunities to offset any financial impact. Given the increasing focus on cyber security, the Trust has implemented a new policy which outlines the Trust's guidelines and security syovisions which are there to protect our systems. services, and data in the event of an incident. and ensvres compliance with relevant UK legislation, including the Data ProteCt￿n Act 2018, UK GDPR. and Keeping Chiklren Safe in Education guidance. The Francis Holland {Church of Englandl Schools Trust Council Report (incorporating the Strateglc Report) For the year ended 31 August 2025 CHARITABLE OBJECTS, PRINCIPAL ACTIVITIES. AIMS and OBJECTIVES Charltable Objects The objects of the Tfust as described in the Memorandum and Arttles of Association are lo provide for anfj carry on in the United Kingdom public day and boarding schools for the education of girls. lo provide religious instruction and training therèin in accordance with the principles of the Church of England, and generally lo foster edLKalion and moral and religiou5 training therein. Principal Activities The principal activities of the chartlable company continue to be the prOvis￿n of education for girts, including religious in51ruclion in accordance with the principles of the ch￿￿h of England. Alms The overriding aim of the Trust is to deliverthe b8St possible eduealion and learning environment lo equip pupils lo lead happy and productive lives and contribLbte positively and purposefully lo society. This is achieved by each of Ihe schools providing a broad and stimulating independent education. combining hoh-qualily academic luilion with a diverse co-curricular Programme that offers extensive opportuni(ies for enrichrnent and growth,. being renowned for outstanding pastoral care and by fostering a supportwe community that encourages a strong sense of social responsibility. The Trust also aims lo widen access lo the education on offer to those wf(hout the financial resources to afford f( through the provision of bursary awards. Koy Obiectlves for thg Year The Governors. main objectives for the year were lo.. Achieve the highest academic standards Ensure the Trust upheld best practice with regard to pastoral Ca￿ and safeguarding Be known for co-curricular excellence, offering a wide range of opportunities beyond the classroom Recruit and retain slaff of the hYJhesl calibre Provide excellent facilities and resources within high quality buildings, Continuing lo enhance the schools with longer term strategic devetopmenl Deltver our stated aims within the context of our charitable status with good management and governance, providing bursaries to enhance yocial access. Other specific objectives dufing the year were lo". Ensure the successful opening and ongoing operation of the FTancis Holland Preparatory School (previously the Junior School. Sloaf)e Squarel following ils retocalion to Chelsea al the start of the financial year Monitor carefully pupil recruilmenl and retention across all three schools within the Trust. and any subsequent impact on the Trust's financial position, considering the challengin9 environment for independent schools, and notably the introduction of VAT on school fees Continue to explore and evaluate intemational expansion opportunities lo diversrfy income strearns and consider taking the strong FHST brand and educational experience overseas The Governors. as the Iruslees and directors of the chari(able company, have paid due regard lo the Charity Commission guidance on public benefit and the relevant sub-sector guidance on fee-charging charitie5. The Govemors are salisf*d that the charity's aims and activities are in accordance with the regulations on public benefit. Strategie5 to Achieve the Kwi Objectives for the Year The strategies employed to meet those objectives included.. Providing a balanced and stimulating curriculum and co-curri¢ular programme that prcYnole$ intellectual curiosity, critical thinking, emotional intelligence. and an international outlook Monitorin9 the delivery of high-quality leaching. learning. and pastoral ca￿. supported by shared best practice and a positive working environrnent Aiming lo recruit and relain high-qualily staff Identifying and progressin9 OPPQrtunities to renew, improve. and sustainably develop the Trust's buildings and facilities Continuing to build and extend the Trusts, outreach actmties and increase means-lesled bursar Pro-aclivety managing our financial performance The Francis Holland (Church of England) Schools Trust Council Report (incorporating the Strategic Reporti For the year ended 31 August 2025 PUBLIC BENEFIT The Govemors recognise the broader responsibilities of the Trust towards local eommuni(ies and society in general. Accordingly. in setting the Trusts. objectives and in their management of the schools, the Governors, have had regard lo the Charity Commission's guidance on public benefit. The Tru51 continues lo demonstrate a signrficant number of areas ol public benefil within ils charitable objective of the provision of education for girfs. The idenlrfiable benefits include the provision of means-lesled bursaries, access to school facilities across the Trust for community and educational purposes. pupil fundraising for external charities and a significant number of community and partnership activities involving pupils and staff. Financial Support The Trust is committed to ensuring that the education provided is not restricted lo those who can afford the school fees through the provision of me8ns-tesled bursaries. The beneficiaries of these awards can receive a reduction of up lo 1000kn of fees charged, in addition lo financial assistance wrth other associated costs of schooling such as school trip$ and examinalion fees. For the year ended 31 August 2025. 67 means-tested bursaries were awarded during the year to the value of £1.337,000 (2024.. £1,131,000). of 3712024.. 321 pupils benefited from a full remission of fees. In addition lo these awards, each school makes efforts to improve the take-up of annual scholarship awards that are based on all-round academic potential or potential in specrfic fields including music and art. Other assistance is afforded to the daughters of clergy and Members of staff. The total value of means-tesled bursaries, scholarships. bursaries, grants, prizes ané other awards made lo the schools, pupils out of unreslricled funds was £1,777,000 12024.. £1,623,000), the equivalent of 4.8tsA 12024.. 4.60AI of fee income. This provided assistance lo 21812024.. 2031 of the Trust's pupils. The Trust wishes lo increase the number of awards il is ab￿ lo offer bul acknowledges that il 1$ unlikely to be able to provide for the cost of such increase purety frorn the fees paid by fee payTrng parents. Donations are accordingly Tequired in order lo ensure the long-lerm financial viability of the Trust's ¢ommitment to increase bursarie5. Fundraising campaigns have been established at both senior schools to encourage parental and alumni support for a bursary endowment fund. The Promise Campaign al Francis Holland Sloane Square. and the Gift Campaign at Fran¢i$ Holland Regents Park seek lo build an endowment with a collective target of £20 million. 2. Community and Partnership links- Access to resources. facilitiès and staff of the Trust In addrtion to providing fi'nancial support to pupils who mHJht otherwise be unable to afford fees, the Trust also provides access lo school faciif(ies to pupils from other schools from the maintained sector. Throughout the past year, each Trust school has built on rt5 partnerships with local schools, establishing a strong and regular programme ol highly regarded, well-attended events. Francis Holland Re ent's P St MarWebone School.. The school maintain5 a long-standing partnership with Sl Marylebone School, ref*ting shared values and a commitment to educational excellence For over eight years, our respected Classics Department has supported Sl Marylebone students. guiding them lo outstanding GCSE cesults. The programme offers after-school Latin sessions lo around 60 pupils in Years 8-11, with four St Marylebone girls taking GCSE Latin in 2024, including one student who achieved a grade 9 and went on to study Latin al A Level. Each February, the Classics Department hosts a Classics Symp)sium, wel¢oming over 1 $0 pupils from stsle s¢h¢x)Is across London and the Souih East including St Marylebone. Woodhouse College, Grey Coat Hospital. and Maria Fidelis Calholic Schoowas well as independent Schools such as Wimbledon High and Channing. The symposium features distinguished speakers. with previous presenters including Professor Melissa Lane {Princelon Universilyl and Classicist and author Dr Daisy Ounn. In addition, one of the teachers of Regent's Park is a co-founder of Class￿$ For All, a charity supporting slate schools in teaching Classical subjects, alongside renowned academic Peter Jones. Building on this partnership, the Computer Science Department now supports St Marylebone with ¢Ltrriculum planning and delwery. ineluding proposals for A Level Computer Science from 2025126. while the Physics Department continues lo leach A level Physics for half a day exh week Subject specific outrea¢h.. In the Spring term. the Physics Department hosts a We Do PhYS￿S Symposium. an event for girls studying A level Physics. Pupils a￿ invited from St Marylebone School, but also from Camden The Francis Holland (Church of England) Schools Trust Council Report Ilncorporating the Strategic Report) For the year ended 31 August 2025 School for Girls, and our sister school, Franics Holland Sloane Square. The Art Department facilitates Sir Hubert Von Herkomer Arts Charity photography courses, supporting disadvantaged children aged 5-18. Year 9 pupils ollaborate on architecture piojecls wi(h Sl Marylebone and the Royal Instf(ule of Britssh Archrtecls. Every ye8r the school runs a Geiman GCSE and A level revision day attended by many other local school pupils, both slate and Independent. The day is for students studying German GCSE. and a large number of schools from across London and the surrounding area are invited. Finally. Lower Sixth Sports Leaders a55iSt with primary school sports coaching al Sl Joseph's Catholic Primary School. Speaker programmes.. The school invrtes ils partner schools (St Marylebone School, All Saints Calholic College and King Solomon's Academy) to its 'Hale Lecture, series. Resources & facllltles." Throughout the year, St Edward's Catholic Primary Sehool continued to use the pool for swimming lessons. while the facility was also hired by the charity Swim Unity. Francls Holland Sloano S uare Sixth Fom? Partnerships.. The school's partner schools eonlinue lo be invited lo ils Sixth Fomi Enrichment and FLttures initiatives. including the Speaker Progamme. In addition.. Future Academies were invrted lo a medical interviews workshop delivered by medics from Imperial College {lo be repeated in November 20251, as well as lo Ihg Internalional Universities Fair. Pimlico Academy students received free places on an LNAT pieparation course, and the school funded a UCAS specialist lo deliver a talk to the whole of Year 12 at Pimlico A¢ademy in June 2025. Senior teachers also Provided mcck Oxbridge intervws for Pimlico students.. Subject specmlc outreach.. After-school maslerclasses are delivered by subject teachers lo local primary school pupils, includirvj sessions in Chemislrylsuch as 'how to make a bath bomb'l and Computer Science. Resources & lacilities.. The gymnasium, netball court, Carmel Hall and the Centre for Creative Enterprise were let oijlside of school hours throughout the year to l¢xal communty groups for'sports Clubs. meetings, training and charitable aclivrties. including organisalions such as In-Deep and the Gaskell Society. In October 2024, the Senior Hall and Playground h05ted the fourth annual In-Deep ThTre-Day Drama Wortshop, providing drama, dance, art and music therapy sessions for nearly 40 young people wrth special educational needs. In-Deep also uses Carmel Hall for fortnighlly evening drama classes. The school Continues to host the annual Beanstalk Bookfesl each October half lerm, welcoming around 600 primary pupils-many from disadvantaged backgrounds-to hear talks from visi(ing authors. The school has hosted this event since 2016 and we are delighted with its success. Francis Holland Pre Th8 school funded Paxton's author visits for World Book Week, this year financing storyteller Wèndy Shearer and pidure book author Robert Tregonning. 3. Community engagement and volunteering by pupils and staff of the Trust Several members of staff of the Trust are governors al slate primary or secondary schoo15 or independent schools, charity Iruslees and community volunteers. Volunteering within the kjcal community is a core part of 5¢hoc4 life across the Trust, with S¢)rne specrfic examples detailed below. Francis Holland Re ent's Park Communty volunteering is an integfal element of school lrfe for pupils at Francis Holland Regent's Park in the Sixth Form. Pupils are encouraged lo seek their own placements aligned with their inlefests for example, sUppO￿.ng homework clubs, after-school clubs and local libraries, as well as assisting wf¢h reading and maths practice in nearby primary schools such as St Edward's Primary School, Sl Vincent's Primary School and Swiss Cottage Specialist School. They also volunteer in the music theory club and STEM club al Saint Christina's SchD)l. There is also a longstanding partnership with St John's Wood Neighbourhood Care. As part of this, Lower Sixth pupils volunteer with the Mosaic Club, supporting a well-established Art Oepartrnent initiative. This weekly The Francis Holland (Church of England) Schools Trust Council Report (incorporating the Strategic Report) Foi th• year ended 31 August 2025 aclivrty, held on srte al Francis Holland Regent's Park, welcomes elderly members of the local communty to oIL9borate wrth Sixth Forfn pupils in creating mosaies. The Music Department hosts lunchtime Goncerts at the local chufch, St Cyprian's, which are open lo the wider community. E8ch year, the school donates to local food bank5 and also works wrth the Children's Book Project, provkding b￿kS to disadvantaged children across the UK. Francis Holland Sloane S ua Similarfy, community volunteering is embedded across school life al Francis Holland Sloane Square with longstanding partnerships with local organisalions including Katherine L¢)w Settlement IKLS). In-oeep. Sl Barnabas and St Matthew's Primary Schools. and Eden Court Retirement Village supported by pupils, staff and parents. We also support the Hammersmrth and Fulham Foodbank through regular educational vi51t5, and fundraising. During the year, strong links continued with KLS. wrth pupils, parents and staff donating Christmas and Easter gifts and supporting events for elderly residents. Lower Sixth pupils volunteer weekly at the KLS Love lo Learn Homework Club. while the Prep Sch¢JoI's pupils and slafl continue to maintain the KLS garden, after completely renovating it in 2021 In-Deep is supported through food donations, music outreach and SEND drama workshops held in Carmel Hall. 30 Lower Sixth volunteers assist weekly al St Bamabas wrth lunchtime supervision and reading. and Sixth Formers also visit Eden Court Retirement Village lo spend time with elderly residents. The s¢h¢)ol Continues its longstanding partnership with Mvumi &hool in Tanzania. This year, the new 'Physics in a Box, initiative was established in memory of Dr Claire Price, where students and staff Created resources and equipment for the children at Mvumi to be 8ble to carry out their own science experiments in Mvumi. Francis Holland Prè The Prep School works closely with a company called TirneGivers which links our young volunteers with local chèrities and organisalions that suit the age group, fa¢ililal¢ng new inspiring experiences to ￿nnect with and give back lo Iheif Ic¢al communitie5. The gid$ parti¢ip*e in unique TÈmeGivefS volunte&ring experiences aligning with the principles, values and goals of the school, complements their academic programme and enriches their personal development. Through this work the goal is to make volunteering a cornerstone of their education, to inslill 8 paSs￿n for service, ignite a stronger sense of self and ingrain a lifelong interest In helping others. The gid$ proactively take part in th￿e different focused areas". So¢ial Inclusion Intergenerational volunteering al a local care home,. Crisis Relief - volunteering at a community food hub and Environmental Volunteering. - working in the local area. planting flower bed5 and bulbs and building bird boxes and bug hotels f(Y wildlife. At the Prep Schcx)l. of our sch¢x)I librarian's volunteer a day a week of their time at Paxton Primary School SE19. The Prep School Director of Sport volunteers Iwilh other Prep staff supporting) in helping lun the Ictal Park Run every weekend which the Prep School sponsors o¢¢asionalty wi(h snacks and slickers for participants. In addition to the above volunteering cJnmitments, the Trust continued to make use of many local reSoUr￿S and fa¢ililies in the local area in mutually beneficial partnerships. Francis Holland Regent's Park has continued lo hold concerts and the annual School Prize-Giving al St Marylebone Parish Church, and concerts, workshops. conferences and enrichment initi*ive5 al Sl Cyprian's, Clarence Gate. For Francis Holland Sloane Square. they tae advantaged of Cadogan Hall, where the annual School Prize-Giving lake$ place. Holy Trinity and St Columba's Churches, where multiple annual concerts take place. and Sl Mary's. Bourne Street, where assemblies, concerts and academic enrichment inrtialives lake place on a weekly basis. Similarty. the Prep S¢hool used their local Parish ChU￿h. Sl Lukes. for their Harvest Service, Autumn Concert, Christmas Service, Easter Service and the School Birthday Service (which they shared wrth Francis Holland Sloane Square). 4. Charitable fundraising work by pupils and staff of the Trust In keeping wrth the Chnslian foundation and ethos of the Trust's schools. service lo the wider community is enlral lo the Trust aims and there 15 a comprehensive programme of support and help to many I¢x81 charities and organisations al each school. Francis Holland R ent's Park Franci5 Holland Regent's Park raises money for over twenty different charities, and in collaboration with the Parent's Association, key charities are supported, namefy Swiss Cottage Speciali51 School and The The Francis Holland (Church of Englandl Schools Trust Council Report (incorporating the Strategie Reporti For the year ended 31 August 2025 Rainbow Cenlre, Sri Lanka which the Head visrted in Odober 2025 with the aim of further strengthening links and support lo this school which offer$ a way out of poverty for local Sri Lankan chikjren and was set up by an ex parent, Alison Nagle. In 2024-2025, our studenl-led fundraising organisation (the Help Fund) raised over £36,500 for a range of charitie5. including our longstanding partners Swiss Cottage Specialist S¢hool and the Rainbow Cenlre, Sri Lanka. Over £23.000 was raiseij in the 2024 Annual Sponsored Walk for Great Ormond Street Hospital. This lem) we have already seen fundraising for Jeans for Genes and Crisis, as well as our annual Haryesl collection which this year diversified into svpporting ￿ food banks, North London Aelion forlhe Horneless and Foodcycle Marylebone. Cake sale$, non-uniform day$, song and dance contests, secondhand clothes sales and HoLTrse Charity days are the other primary sources of fundraising. Francis Holland Sloane S uare Francis Holland Sloane Square raises money for four charities with which il has longstanding relalionships.. In- Deep, KLS, Hammersmilh and Fulham Foodbanka and Mfume Secondary Sch¢x)l in Tanzania. In 2024-2025, events organised by the sclh)ol with parent support saw a combined total of over £45,￿)0 raised for these organisations. Over £10,000 was raised for Mvumi where funds raised are focused on developing girfs, wellbeing and education. Four boarding pupils are sponsored al Mvumi and this commitment will increase lo six boarding pupils IFI the year ahead. Closer lo home. Sl Barnabas, Church ol England Primary School was supported through the raising of over £2,000, for their trips programme. Parents in Years 7 and 8 a￿ invited to pay a voluntary contribution when paying for their own daughte¢s Expeditions Week. This voluntary contribution of £10 enables disadvantaged pupils at St Barnabas, to attend day trips and residenlials and benefit from experiences which otherwise they might be unable lo afford. Finally, staff and parents al both Francis Holland Sloane Square and the Pop School have been giving nY)nlhly donations lo Hammersmith and Fulham Fo¢JJbank since November 2022. The donations amounted to 4% of all total éonalions in 2024-25. Francis Holland Prè Every year the Prep School chooses a 'Charity of the Year, to SUPP¢)rt alongside the school's longstanding harities, In Deep and the Katheiine Low Settlement. Last year the P￿p School ehose to support the Ictal charity Doorstep Library. This charity became known lo the s¢h¢)ol as our Head of EYFS volunleered for Ihem. The charity aims lo bring the grft of books and the joy of reading into the homes of children in disadvantaged areas of London. Fundraising initiatives were held in collaboration with the Parent's Association. such as.. Parent Breakfasts. Cake Sales and HaNest Collection. as well as those run by the teachers and girls in school.. Carol Singing, Readathons, Charity and Enterprise Fair and the Dog Show. The school raised over £12,(K)O by the end of the year. These fundraising aclivrties, singing engagements and helping with Iwdbank colleclK)ns and packing, help promote our pupils, sense of responsibility, service an¢J social awareness. Envlronmental Im act Total energy use during the year was approximately 2,083,483 kih)watt hours {2023-24". 1,378,900) which is the equivalent of 506,529 kg CO,1202&24'. 335,407kgl, 363 kg CO2 per pupil12023-24.. 284kgl. Figures for 2024-2025 do Include Ihe new school silo for the Francis Holland Preparatory School which explains the increase in energy use. Total energy use durin9 the year al Francis Holland Sloane Square and Francis Holland Regent's Park increased from 801,465 kwh to 834,104 kWh1+4. 10A1 and frorn 872,942 kwh to 925.111 kWh1+6.OVol, respectivèly, which is in part explained by the lower winter lemperalures experienced in 2024-2025 compared to the mild winter of 2023-204. The Francis Holland (Church of England) Schools Trust Council Report (incorporating the Strategic Report) For the year ended 31 August 2025 STRATEGIC REPORT REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR Trust Pup•l Numbers We are delighled lo see a consistent increase in numbers across all three schools in the Trust during the year under review. This growth reflects positively on the strong reputation of the Trust and the commrtment to invest in ils growth and expansion, as demonslraled by the relocation of the fom)er Francis Holland Sloane Square Junior School lo become the Francis Holland Preparatory School. This year. Francis Holland Regent's Park averaged 569 girls12024". 5551, Francis Holland Sloane Square averaged 602 girls12024'. 5911 and the Francis H¢lland Preparatory School welcomed 222 pupils lup from 171 in 20241. By the end of the 2024-25 academi year, this number had settled at 238. All of the pupils benefited from a broad range of academic and co- curricular opportunities delivered in a friendly and supportive atrn05phere wth outstanding pastoral care in accordance with the aims of the Trust. Trust Academic Performance, Co-curricular & Pastoral In 2025, resutts at both A Level and GCSE were excellent for both senior schools and once again we Saw exceptionally strong value-added performance. with resuts on average a grade higher than the baseline predictions, placing the schwls in the top 20 independent girls, schools in London. As well as delivering strong academic results. there is a very busy co-curricular projramme in all of the school$ offering significant opportunities for enrichment and growth. The schools pride themselves on Iheir reputation for oulslanding pa51oral care with thorough support being provided for the emotional and mental wellbeing of pupils and staff. Some of the highlights for school are detailed beh)w. Franci nt, Park A Lav•l: Al A Level 86.5% {2024'. 92%) of subjects We￿ graded A. to B. 21V/ts of subjects were graded A" al A Level12024." 250hl. The pass r*e was 100Vkn12024'. 100%). There is additional academic provision through the Extended Project Qualification which equates to half an A Level award. Pupils achieved 580h 12024". 80Vol A. and A grades in 2025 and 84Yo awarded A'to 8. This year saw 19 pupils complete the EPQ. GCSE.. The proportion of grades at 7, 8 or 9 was 78.4%12024'. 87°AI. 99.5% of papers We￿ awarded grades al 4 to 912024.. 1000hl. 25.7% of 811 exams achieved the lop grade of 912024.. 37.hl and 53.4% were graded 8 or 9166% in 20241 These marks refle¢l the hard work of this cohort displaying tenacity and perseverance from the start of their GCSE journeys. L8avers' Destinations: On completion of their studies al Francis Holland Regent's Park. all of the Sixth Form who had applied were placerj al Higher Education inslilulions in the UK or overseas. 83OA of UCAS applicants 144 pupils} secured their First Choice universty offer, with success spanning the full breadth of the Russell Group. in¢luding Oxford111, Cambridge121, Imperial111, Durham, Bristol, Edinburgh and UCL. Reflecting the school's strong commitment to Ihe arts. students gained places al highly competitive specialist institutions, including the Liverpool Institute for the Perfom)ing Arts, and four pupils secured Art School places (outside UCAS) al Kingston and UAL. Students also achieved prestigious international offers, with tsvo pupils gaining places al Duke ané Cornell. Co£urrlculum and Pastoral Siudents are encouraged to extend their intellectual cUr￿Sty and creativity whilst also having fun. both in the classroom and through the lively co-curricular schedule of about ninety weekty clubs covering everything from Drama, Arts, Sport, Science. Music and Enterprise. Conventional clubs such as Debating. Art Club. 8c Schools Trust Statement of Financial Activitles Incor orating inwme and ex endf(ure account or tho year ended 31 ugust 2025 Unrestricted Fundg Restricted General Funds 2025 2024 'ooo Note$ INCOME FROM: Charitable activities School fees 35,666 35,666 34,075 Raising funds Investment income and interest Donations Govemmenl gfanls Trading incorne 409 409 481 334 17 865 Total Incom& 36.075 865 36.940 34.890 Expenditure on". Raising funds: Fundraising and Development 245 132 377 210 Charltable Actlvttles Education 36,384 36.384 33.769 Total expenditure 36.629 132 36,761 33.979 Net income before transfers and Investment gains I Ilosse$l'. {5541 733 179 911 Gain I Iloss) on investrnents Tfansfers between funds 1591 456 43 1456} 116) 340 16 Net rnovement in funds 1571 320 163 1.251 Funds at 1 September 2024 23.24 39,747 1,312 41,059 39.808 Funds at 31 August 2025 39,590 1,632 41,222 41,059 All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above. The notes on page5 22 10 35 form part of these financial statements. Full comparative figures for the year ended 31 August 2024 are shown in note 23. 18- The Francis Holland (Church of England) Schools Trust Balance Sheet A$ at 31 August 2025 Company Number 257981 2025 2024 Note £'ooo £'ooo £'ooo £'ooo Fixed Assets Tangible fixed assets Investment property Listed investments 39.976 575 5,481 41,436 675 4,OOS 10 46.032 46,116 Current Assets Debtors Short term deposrt5 Cash al bank and in hand 12 14,368 2,533 2.317 1,207 12,270 822 19.218 14,299 Current Liabilities Creditors. amount falling due within one year 13 (19,1081 110,368) Net Cu￿ent Assets 110 3.931 Total Assets Less Current Liabilities 46,142 50.047 Creditors: amount falling due 8ftei moTe than one year 13 14,9201 18,9881 Net assets 41.222 41,059 Funds Unreslricted General Funds Restricted Funds 16,24 17,25 39,590 1,632 39,747 1,312 41,222 41,059 Note.. Funds include a cumulative unrealised gain of £840,0110 12024.. £757,000) arising on revaluation of investments and a loss of approximately £390,000 {2024.. £490,￿0) arising on the valualDn of an inve51rnenl propety. Approved and authorised for issue by the Members of the Council on 15th January 2026 and signed on their behalf.. Mr P Sherrington Member of the Council Mr O Purcell Member of the CoLbncil 19- The Francis Holland (Church of England) Schools Trust Cashflow Statement Fortheyear ended 31 August 2025 Company Number257981 2025 2024 Note £'ooo £'ooo £'ooo £'ooo Net cash flow from operatlons (3.0011 11.095 Cash flows from investing activities Payment5 for tangible fixed assets Investment income and Interest Payment5 to acquire fixed asset investments 11.5921 276 11,3001 14,615) 409 Net Cash uged in investlng a¢¢lvltles {2,6161 14.2061 Cash flows from financing activit5es Loan drawdown net of repayments Finan¢8 Costs 12.5821 1431 12551 {195) Net cash used In financing activities (2,6251 14501 Change in cash and cash gquival*nts in the year (8,2421 6.439 Cash and cash equivalents at the beginning of the year 13,092 6,653 Cash and cash equivalents at 8nd of the year 4,850 13,092 Reconciliatlon of net cash flow to movement In net fund$ Increase in cash in the year (Decrease) l increase in liquid resources in the year 1,495 (7,1501 393 6,046 (5,6551 6,439 Nel funds al 1 September 2024 10.505 3,811 Not funds at 31 August 2025 4,850 10,505 -20- The Francis Holland (Church of England) Schools Trust Cashflow statement For the year ended 31 August 2025 Notes to the Cashflow Statement Recon¢iliation of net cash inflow from operatlng actlvltles 2025 £'ooo 163 1.883 2024 'ooo 1.251 1,749 123 13401 14091 195 11421 8,668 Net income Depreciation Loss on disposal Inve51menl gain Illossl Interest Finance costs {Decreasel in debtors Increase in creditors {16) 1276) 43 112,C63) 7,265 Net cash louffiow) l inflow from operating activities 13,001) 11,095 {iil Analysis of movernent in net funds 31 August 2025 £'ooo 1 September 2024 £'ooo Cash flow £'ooo Cash at bank and in hand Treasury reserve deposit 2,317 2,533 1,495 19,7371 822 12.270 Total funds 4,850 18,2421 13.092 Loan. Less than one year Loan". Greater than one year 451 2.136 14511 (2,1361 Net fLtnds 4,850 15,6551 10.505 21 The Francis Holland (Church of England) Schools Trust Notes to the Financial Statements For the year ended 31 August 2025 Company information The Francis Holland (Church of England) Schools Trust is a company which does not have share capital and is limited by the guarantee of the Members lo a maximum of £1 each. The Trust IS governed by the Memorandum and Articles of the company. The Trust is a Public Benefit Entity registered as charity in England and Wales Icharily number.. 31274SI and a company lirnrted by guarantee (company number.. 2579811. The registered office is 35 8ourne Street. SW1W 8JA. The subsidiary trading company FHS International, company number 12161646, incorporated in the Engl8n¢J and Wales with share capital of £1. was registered in August 2019 with a ￿gistered address of 35 Bourne Streel, SW1W 8JA. The accounts of the company are immalerial. Consolidated accounts are not prepareé Statement of compllanc& These financial stalemenls have bgen prepared in accordance with applicable Uniled Kingdom accounting slandafds, includin9 Financial Reportins Standard 102-'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, I'FRS 102,1, and with Ihe Companies Act 2006 and the Slalement of Recommended Practice (second edition) applicable to charities preparirng their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Ireland I'FRS 102'1- effective 1 January 2019. The financial statements have been prepared on the historic cost basis excepl for the modification to fair value basis for certain financial instruments as specified in the accounting policies below. The financol statements are presented in Sterling (£1. The functional currency of the Trust is considered to te Sterling because that Is the currency Ctf the pnmary economic environment in which the Trust operates. Going concern After TeviewirrfJ the forecasts and project￿n$ of th& charty. together with the expected ongoing demand for places, the members have a reasonable expe¢lation that the charity has adequate resources lo continue in operalional exislen¢e for the foreseeable ful(tre and consider that there were no material uncertainties over the Trust's financial vi8bility. The charity therefore continues to adopt the going concern basis in preparing rts financ￿1 statements. Slgnlficantludgements and estlmato$ In the applicatign of the accounling policies, Council are required lo make judgemènts, estimates. and assumptions about the carrying value of assets and liabili(ies that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other faclors that are conside￿￿ to be relevant. Actual results may differ from these estimates. The eslimales and undedying assumptions are reviewed on an ongoing basis. RevisKJns to accounting eslimales are recognised in the period in which Ihe estimate is revised if the revision affects only that period. or in the period of the revision and future penods If the revision affected cur￿n1 and future periods. The rtems in the financial statements where these judgements and estimate$ have been made in¢lude'. The estimated useful l¢fe of the fixed assets The valuation of the fee debtors. expressed net of the provision for bad debt The following accounting policies have been applied consislenlly in dealing with iterns which are consNJered material in relation lo the Trust's financial 51alemenls. The Francis Holland Ichurch of England) Schools Trust Notes to the Financial Statements For the year ended 31 August 2026 Accounting policies (al Tangible flxed assets Tangible fixed assets are measure(l al cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated Tesidual value of all tangible fixeit assets, other than freehold land. over their expected useftjl lives, using the straight-line method. The rates appI￿able are.. Freehold buildings Fixtures. furniture and equipment Long leasehold SO years 3to 10 years 4 10 99 years Assets under the course of construction are not depreciated until brought in to use. The Members ofthe Council review the schools, freehold and long leasehold buildings for impairment at the end of each financial year, in aecordanee Trmth FRS 102. Assets ￿$ting more than £1,000 are capilalised. Ibl Impairment of assets Al each reporting date fixed assets are reviewed lo determine whether there is any Ind￿allon that those assets have suffered an impaimenl loss. If there is any indication of possible impairnient. the recoverable amount of any affected asset is estimated and compared wrth ts carrying amount. If the estimated recoverable amount is lower, the carrying amount is Teduced lo its estimated recoverable amount and an impairment loss is recognised immediately in profil or bss. 1¢) Investment property Investment propety is included in the accounts at fair value. Fair value is based upon a valuation performed by an independent surveyor with a re¢ognisetJ professional qualification and recent eXPer￿n¢& in th& location and Class of property valued. {d} Investments and investment income Investments represent holdings in a public￿ traded fund and are included in the financial slalements al fair value. Changes in fair value afe recognised in the Statement of Financial Aclivilies. Fair value is established using the bid price al the b8￿nCe sheet date. (el Financial Instruments The Trust only has financial assets and financial liabilities ol a kind that qualify as basic financial instruments. Bas￿ financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the exception of bank Igans which are subsequent measured al amorb'$ed cost using the effective Interest method. Cash at bank and In hand Cash al bank and in hand includes cash and short lemi highly liquid investments with a short malurrty of three months or less from the date of acquisition or opening of the deposit or sirnilar account. Debtors pa￿nt debtors are measured at transaction pri￿, less any impaimenl. Parent and other debtors are recognised al the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. CredÈtors Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank k)ans. a￿ measured inilialty at fair value, nel of transadion costs. -23- The Francis Holland (Church of England) Schools Trust Notes to th8 Financial Statements For the year ended 31 Au9USt 2025 (Q Leases Rentals payable under operating leases are charged lo the slalement of financial aclivilEs on a 5tr8ighl-line basis ovei the lease term, even if the payments are not made on such a basis. Benefits received as an Incentive to sign an operating lease are similarly spread on a straighl-line basis over the lease lem. {g} Provisions for liabillties Provisions are recognised when the charity has a present obligation (legal OT constructivel as a result of a past event, il is probable that the charity will be required lo settle the obligation, and a reliable estimate can be made of the amount of the oblKJation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation al the end of the reporting period, tsking into account the risk5 and uncertainties surrounding the obligation. h) Fees receivable School fees are credited lo In￿Me in the period for which they are receivable. Fees receivable arg stated after deducting allowances. 5cholar5hips and other remissions granted by the school from unrestricted funds but includes contributions received from endowrnent and restricted funds for scholarships. bursaries and other monies received from third parties. Fees that are received in advance of the academic year to which they relate are Irealed as credthrs and released in the year lo which they relate. Oonations Donations are accounted for %then enlillement arises, the amount can be reliably quantified and the economi¢ benefrt lo the Trust is considered probable. Voluntary income lor the Tw$t's general purposes is accounted for as unrestricted and is credited to the General Reserve. Vvhere the donor or an appeal has imposed trust law reslri¢lions, voluntsry income is credrted to the relevant restricted fund. lj'l Investment Income Investment income is recognised on a receivable basis once the amounts can be measured reliably. {kl School expenditure General educational expenditure is accounted for a5 incurred on the accruals basis and is charged diredly to the expenditure &￿egOry lo which it relates. Expenditure allribulable to more than one cost category in the Statement of Financial Aclivrties is apportioned to them on the basis of the estimated amount attributable lo each activity in the year. either by reference to staff time or the use made of the underlying assets, as appropriate. Irrecoverable VAT 1$ included with the rtem of expendrture to which it relates. Grants awarded are expensed as soon as tw become legal of operational commrtments. Governance costs comprise the costs of complying with ¢on$lilutional and sl*utory requirements. (l) Pension costs Retirement benefits to employees of the School are provided through two penS￿n schemes. The pension costs charged in the Statement of Financial A¢lniit*s are delemiined as follows.. The Teachers, Pension Scheme - This scheme is a multi-employer pension scheme. It is not possible lo identify the School's share of the Lsnderlying assets and liabilities of the Teachers. Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS102, accounts for the scheme as if il were a defined contribution scheme. The Trust's contributions, which are in accordance wf(h the recommendalions ol the Government Actuary. are charged in the period in which the salaries to which they relate are payable. -24- The Francis Holland (Church of England) Schools Trust Notes to the Financial Statemgnts For th8 year ended 31 August 2025 {ml Pension costs Icont.) The Trust Group Personal Pension Plan - Thi5 is a defined contribution group personal pension plan with Aviva. Employers, pensM?n Go$ts are ¢harged in the perKJd in which the salaries lo which they relate are payable. Inl Employee benefits Short term benefits Short term benefits including holiday pay are recognised as an expense in the period in which the service was received. Employee settlement benefrts Settlement benefits are accounted for on an accrual basis in line wrth FRS102. lol Fund accounting The charitable trust funds of the Trust are accounted for as unrestricted or restricted income in aecordance with the terms of trust imposed by the donors or any appeal to which they may have responded. Unrestricted funds Unre51ricled ineome belongs lo the Twst's corporate reserve$, spendable at the discretion of the Governors either lo lurther the Trust's Objects or lo benefit the Trust itself. Where the Governors dec￿& lo set aside any part of these funds lo be used in future for some specific purpose, this is accounted for by transfer lo the appropriate designated fund. Restricted funds Restricted funds are certain legacies and donations lo be ulilise(l in accordance with the terms imposed by the donors. Fees recelvable 2025 £'ooo 024 £'ooo Fees consist of.. Gross school fees Less". bursaries Less.. s¢holar$hips Less.. staff. Clergy and other awards Add." bursaries from restricted fvnds 37,364 11.3371 12921 {1481 79 35.648 11,1311 13021 11901 35,866 34,075 Investment income 2025 £'ooo 024 £'ooo Listed investments Other interest Investment property rental inc(yme 93 296 20 72 394 409 481 -25- The Francis Holland (Church of England) Schools Trust Notes to the Financial Statements For the year ended 31 August 2025 Edu¢atlonal expenditure 2025 £'ooo 2024 £'ooo Teachers. salaries Visiting teachers, salaries Teaching costs Premises costs Welfare costs Support costs of schooling Bursary department costs Cost of bursaries from restricted funds Depreciation Financing costs 16.731 856 2,413 3,466 2,544 6,132 2,237 79 1,883 43 15.383 828 2,317 3,433 2,337 5,596 1.881 50 1,749 195 36.384 33,769 Bursary costs include Governance costs of Auditors, remunerat￿)n net of VAT.. current year audit $erviee$ other $ervices 33 Staff costs and numbers employed 2025 £'ooo 2024 £'on Wages and salar￿5 Social secLtTity Pension contributions 17.186 2,114 3,542 15.380 1,722 3,012 22,842 20,114 Visiting teacher costs Visiting teacher pension costs Supply staff costs Visiting lecturers Settlement payments 700 160 19 98 148 155 131 112 32 23,967 21,228 Numbers empl¢)yed 2025 Number 2024 Number 2025 Number 2024 Numbei Annual average staff Equivalent full-time staff Teaching Adminislfalive and Support staff Visiting Teachers 206 152 57 204 103 40 169 111 174 415 347 280 258 -26- The Francis Holland (Church of England) Schools Trust Notes to the Financial Statements Forlhe year ended 31 August 2025 Staff costs and numbets employed Icontinuedl The number of employees whose annual emolumenl$, exclusive of employer pensions. in total exceeded £60.000 was.. Number 2025 Number 2024 £60,001- £70,000 £70,001 £80,000 £80,001- £90,000 £90,001 £100,000 £100,001 £110,000 £110,001 £120,000 £120,001 - £130,000 £130,001 - £140,000 £140,001 - £150,000 £1 $0,001- £160,000 £180.001- £190,000 £190.001- £200.000 33 49 20 27 46 30 131 129 The aggregate employee emoluments including pension contributions and employei$' national insurance of key management personnel for the year was.. £817.02012024.' £771.6451. The Members ol the Council reeeived no remuneration for their servioes during the year 12024.. £nil). Travelling and other expenses reimbursed lo 312024." 21 Members of the Council during the year amounted to £1,63912024.. £239). .27- The Francis Holland (Church of England) Schools Trust Notes to the Financial Statements For the year ended 31 August 2025 Tanglble fixed assets Land and buildings Long Freehold leasehold £'ooo £'ooo Fixture5 furniture ui Total £'ooo £'ooo Cost Al 1 S&ptember 2024 Additions CGS Adjustment Disposal 22,303 375 1237) 29,999 925 19321 4.899 292 57,201 1,592 {1,1691 11991 11991 Al 31 August 2025 22,441 29.992 4,992 57,425 Depreciation At 1 September 2024 Charge for the year On Disposal 4,669 725 6.938 815 4.158 343 11991 1 S,765 1,883 11991 Al 31 August 2025 5,394 7,753 4,302 17.449 Nat book value At 31 August 2025 17,047 22,239 690 39,976 At 31 August 2024 17,634 23,061 741 41,436 10 Investment property 2024 £'ooo 000 At 1 September 2024 Impairment 675 1100) 675 At 31 August 2025 575 675 The investment property is a flat owned by Ihe Trust and is not used in the Tmst's own activities. A formal valuation of the property was prepared by Knight Frank LLP, dated 30June 2025. 11. Listed investments 2025 2024 £'ooo Market value at 1 September 2024 Addrtions Dividends reinvested Realised & unrealised gainsl{lossesl 4,005 1,300 3.539 72 340 83 Market value at 31 Augusl 2025 5.481 4,005 Cost of investments al 31 August 2025 4.548 3,248 Investments comprised unil trusts. -28. The Francis Holland (Church of England) Schools Trust Notes to th¢ Financial Statements For the yoar ond8d 31 August 2025 12 Debtors 2025 'oo 2024 £'ooo Due within one year: School bills and exiras Prepayments and other debtors CGS 12,087 1,112 510 697 13,283 1.207 Amounts due aftgr more than one ygar. CGS 1,085 1,085 Debtors include the CGS deblof of £1,168,872 (2024.. £nil} which relates to accrued VAT recoverable via the Capital Goods Scheme in future years. 13 Creditors 2025 £'ooo 2024 £'ooo Amounts falling due wlthln one year: Deferred income Accrued expenditure FIA scheme creditors Trade creditors Other creditors Taxation and S￿la1 security Trips Fee deposits retained Bank loan Isee note 1 S) 11,631 1,763 1,737 881 542 2,154 2.259 2,937 3.110 105 617 423 49 417 451 400 19,108 10,368 Amounts falling due after more than one year: Fee deposrts ￿taIned FIA scheme creditors Bank loan (see note 15) 3,145 1,775 3,152 3,705 2,131 4,920 8,988 14 Fèes In Advance Scheme Parents may enter into a ￿ntract lo pay the Trust in advance for fixed contributions towards luilion. The money may be returned, subject to certain specific conditions, on the receipt of notice. Assuming pupils will remain al the respective school. fees in advance will be aPpl￿d as follows.. 2025 024 £'ooo After five years Within two lo fwe years Within one year 92 1,683 1.737 372 3,333 3,110 3.512 6,815 -29- The Francis Holland (Church of England) Schools Trust Notes to the Flnancial Statements Fortho year ended 31 August 2025 Summary of movements In Ilablllty 2025 'ooo 024 £'ooo Balance al 1 September New Contracts Repayments Amounts used lo pay fees 6.815 128 12021 13,2291 125 6.690 3,512 6.81 S 15 Bank Loan The Trust entered into an agreement wi(h Lloyds Bank plc for a loan of £6.5m, secured againsl the freehold title of iwo freehold properties in Ivor Place. The Francis Holland School and The GloucesteT Arms Public House. The loan was al floalirlg rale inleiesl al 1.750￿ above Bank of England base rate. The loan was repaid in full dur￿ng the year. 2025 'ooo 2024 z'ooo After S years Within 2 to 5 years Within 1 10 2 years Within 1 year 876 948 307 451 2,582 16 Unrestricted general funds un￿strICted funds represent accumulated income from the Trusts activities and other sources that are available for the general purposes ol the Trust. At 1 September 2024 £'ooo Transfers and At Investment 31 August ainsl lossès 2025 £'ooo £'ooo Income Ex £'ooo enditure £'ooo General Fund 39,747 36.075 136,6291 397 39,590 As renecled by note 9, £39,976,000 of the totsl funds of the charitable company Is invested in tangible fixed assel$12024.. £41.436,0001. 17 Restrlcted funds At 1 Saptomber 2024 £'ooo Transfers and At investment 31 August ainsl losses 2025 £'ooo Income Ex £'ooo £'ooo £'ooo Regent's Park Bursary Fund Regent's Park Building Fund Regenl's Park 1878 Circle Sloane Square Building Fund Sloane Square Bursary Fund The Morris Francis Holland Bursary Sloane Square Junior Fund The 1881 Cir¢le Other Funds 265 182 56 18 107 1261 {91 1561 412 18 11071 1101 1.056 1341 12051 31 85 29 267 31 10 (931 13} 116 30 (91 Restricted Funds 1.312 865 (1321 14131 1.632 -30- The Francis Holland (Church of England) Schools Trust Notes to the Financial Statements For the year ended 31 August 2025 17 Regent's Park Bursary Fund: lo assist girls from financially disadvantaged backgrounds lo benefrt from an education at the school. Regent's Park Building Fund: a fund to support the development of the school. Regent's Park 1878 Circle: funds from donors who are Inlere51ed in supporting the school's future plans and widening access lo the school. Sloane Square Building Fund: a fund to support the improvement of the school's teaching facilities by the development of its sile and surroundings. Sloane Square Bursary Fund- lo assist girls from financially disadvantaged backgrounds lo benefit from an education at the sehool. The Morris family Francis Holland Bursary: to assist girls from a financially disadvantaged background. Sloane Square Junior Fund- a fur￿ to provide additional resources to enable the school to enhance the educational experience. The 1881 Circle- funds Irom donors who are interested in supporting the Sloane Square School's future plans and widening access to the Schocl. Other Funds.. a number of smaller funds holding restricted donations net of expenditur& on the relevant 18 Analysis of net assety between funds The net assets are held for the various funds as follows- Unrestricted General Restricted {Note 16) (Note 17) £'ooo £'ooo Total 2025 £'ooo Tangible fixed assets Investment property Listed investments Nel current assets Creditors falling due after more than one year 39.976 575 4.138 11791 14.9201 39,976 575 5,481 110 14.9201 1,343 289 39,590 1.632 41.222 19 Operating lease commitments The following future minimum lease payments under non-cancellable operating leases are set out bdow.. 2025 2024 Payment due.. £'ooo £'ooo Not later than one year Later than one year not later than fiv8 years Lalw than five years 1,170 4,652 20,691 1.300 5,452 21.854 26,513 28.606 Included within the above operating lease commitments are tsvo property leases under 125 year agreements. Annual rents totsl £13.000 and are reviewed every five years in accordance with RPI. 31 The Francis Holland (Church of England) Schools Trust Notes to the Financial Statements For the year ended 31 August 2025 Capital commitments At 31 August 2025 the Trust had oulslanding contractual commitments for capital expenditure amounting lo Nil12024'. Nil). 21 Related party tTansactions Ouring the year, one Trustee was a grandparent ol a pupil ar￿ Trustees were parent$. The families Paid lees at normal rates. 22 Pension Costs Teachers. Pension Scheme . The School participates in the Teachers. PensK)n Scheme I'thè TPS'I for its teaching staff. The pension charge for the year includes contributions payable lo the TPS of £2.280,111 12024.. £2,264,829) and al the year-end £253,44612024'. £191.6331 was accrued in respect of contributions lo this scheme. The TPS is an unfunded Multi-em￿oYer defined benefits pension $¢hem& governed by The Teachers. Pensions ReguLglions 2010 las amended) and The Teachers, Pension Scheme Regulations 2014 las amended). Mernbers contribute on a 'pay as you go. basis with contributions from members and the employer being ¢￿drted to the Exchequer. Retirement and other pen$KJn benefits are paid by publ￿ funds provided by Parliament. The employer contribution rate is sel by the Secretary of Stste 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 28.60h, and employers are also required lo pay a scherne administration levy of 0.08Vo giving a lolal employer contribution rate of 28.68VD. The Teachers. Pension Scheme is now closed to new staff. Trust currently provides the follown9 defined contribution pension arrangements for staff. Aviva Francls Holland Schools Trusl Reglstarad Stakeholder Pension Scheme The Trust established the Francis Holland Sch¢)ol Trust Registered Stskeholder pension schemewith effect from 1 May 2023. Aviva provide administrativ&, investment management and trustee services lo the scheme. Members have individual policies established in their own names on joining. The defined contribution scheme was previously managed by Friends Provident. The Trust's responsibilities extend to making contributh'ons through payroll and adminislralion, limited to providing Aviva with suiiable information about employees who accept the invitation to join the scheme. The pension cost charge for these defined contribution schemes represents the amounts payable by the Trust for the year and amounted to £1,421,53812024.. £898,813). The year end liabilty in relation lo this scheme was £168,78212024. £81,803). 32- The Francis Holland (Church of England) Schools Trust Notes to the Financial Statements For the year ended 31 August 2025 Comparative Statement of Income and Expendlture - Year ended 31 August 2024 Unrestricted Funds Restricted Gèneral Funds 2024 2023 000 Notes INCOME FROM: Charitable acliviti•s School fees 34,075 34,075 29,734 Ralslng funds Investment income and intere51 Donations 481 481 334 220 1,182 17 334 .Total income 34,556 334 34,890 31,136 Exp&ndllure on: Raising funds: Fundraising and Development Education 210 33,706 210 33.769 165 29.198 63 Total expenditure 33,916 63 33.979 29,363 Net income before tran5fets and Investment gains I Ilossesl.. 271 911 1,773 Gain l {lossl on investments Transfers btheen funds 340 340 (1451 144) Net movement in funds 1,024 227 1,251 1,628 Funds at I September 2023 24.25 38,723 1.085 39,808 38.180 Funds at 31 August 2024 39,747 1.312 41,059 39,808 33- The Francis Holland (Church of England) Schools Trust Notes to the Flnancial Statements For the year ended 31 August 2025 Comparative fund notes". 24 Unrestrl¢t•d general funds Unrestricted funds represent accumulated income from the Trusts activities and other sources that are available for the general purposes ol the Trust. At 1 September 2023 £'ooo Transfer$ anit At investment 31 August losses 2024 £'ooo Incomt Ex £'ooo endlture £'ooo £'ooo General Fund 38,723 34.556 133.9161 39,747 25 Restricted funds Al 1 September 2023 £'ooo At 31 August 2024 £'ooo Income Ex enditure Transfers £'ooo £'ooo £'ooo Regent's Park Bursary Fund The Vivienne Durham Bursary Fund Regent's Park Building Fund Sloane Square Building Fund Sloane Square Bursary Fund The Morris Francis Holland Bursary Sloane Square Junior Fund The 1881 Circle Other Funds 112 82 71 82 (821 138 15) 265 38 690 178 868 (50) 31 55 31 31 85 29 30 12 113 R8Stitcled Funds 1,085 334 (631 1441 1,312 Regent's Park Bursary Fund: lo a$$ist girls from financially disadvanta9ed backgrounds lo benefit from an education at the school. The Vivienne Durham 8ursary Fund- a fund for academic pupillsl who could not otherwise afford full Regent's Park Building Fund: a fund to support the development of the sch¢)ol. Sloane Square Building Fund: a fund lo support the improvement of the school's leaching fa¢ilities by the development of its srte and surroundings. During the year Costs a$so¢ialed with the project have been transferred from the fund. Sloane Squaro Bursary Fund: lo assist girls from financially disadvantaged backgrounds to benefit from an education at the school. The Morri5 family Francis Holland 8ursary- lo assi$l girfs fiom a finan¢ialty di$advanta9ed background. Sloane Square Junior Fund: A fund to provide additional resources lo enable the school lo enhance the educational experience. The 1881 Circle- Funds from donors who are interested in supporting the Sloane Square School's future plans and widening x¢ess to the School. Other Funds.. a number of smaller funds holding restncted donab'ons net of expenditure on the relevant ini(iatives. The Francis Holland {Church of England) Schools Trust Notes to the Financial Statements Forthe year ended 31 August 2025 Comparative analysis of net assets boknn funds The nel assets are held for the various funds as follows.. Unrestricted Total 2024 £'ooo (Note 24) (Note 251 £'ooo £'ooo Tangible fixed assets Investment property Listed investments Nel current assets Creditors falling due after more than Or￿ year 41,436 675 4,005 2,619 18.9881 41,436 675 4.005 3,931 18,988 1.312 39,747 1,312 41.059 35-