Charity Registratlon No. 312753
Company RÈgbStration No. 00887719 IEngland and Wales)
GOVERNORS, REPORT (INCORPORATING THE STRATEGIC REPORT)
AND CONSOLIDATED GROUP FINANCIAL sfATEMENTS
FOR
HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
(LIMITED BY GUARA ￿EE}
FOR THE YEAR ENDED 31 AUGUST 2024

HOMEFIELD PREPARATORY SCHOOL TRusf LIMITED
CONTENTS
Page
Governors. Report (Incorporating the Strate8ic Report)
Statement of Governor< Responsibilities
Independent Auditorfs Report
I￿13
Consolldated Statement of Financial Activities
14
Consolidated Balance Sheet
15
Company Balance Sheet
16
Cash Flow Statement
17
Notes to the Accounts
18_29

HOMEFIELD PREPARATORY SCHOOL TRusf LIMITED
GOVERNORS, REPORT
The Governors are pleased to present their report and financlal statements for the year ended 31
August 2024, whith also Gomplywith the Companie5Att 2006 requirement for a Directorg Report and
Strategic Report.
The financial statements have been prepared in accordance with the Companies Att 2006, Charitie5
Act 2011 and Accounting and Reportingfor Charities: Statement of Recommended Practice applicable
to charities preparing their financial Statements in accordance with the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland {FRS 102).
STRucfuRE. GOVERNANCE AND MANAGEME
Homefield Preparatory School Trust Limited I'the School.) was incorporated in 1966 and operates as
Homefield Preparatory School. The School is a company limited by 8uarantee (company number
¢X1887719}, registered wth the Charity Commission {charity number 3127531 and 15 governed by its
Articles of Association, last amended on 27 July 2021.
The school has a dormant subsldiary company, Homefield School Enterp￿SeS Limited, whlch will be
wound up during the year 24/25.
Recrultment. Indurtlon and Training
Governors of the School are elected on the basis of nominations received by the Chair of Governor5,
to the Board's specifications concerning eligibility, personal competence, speclalist skllls and
availability. Governors are elerted at any meeting of the Board, subject to confirmation of thelr
eligibility to art as a Director and Trustee and selve an initial term of office of fouryear5.
New Governors are inducted into the workings of the Charity and the School. They are given copies of
various documents including the AGBIS"Guidelinesfor Governors- manual, the Article5 of Association,
the13test audited accounts and the most recent School ISI inspection report. As part of their induttion,
they visit the school and are 8iven orientation briefings by the Chair of Governor5 and/or other
Governor5, the Head and the Bursar and receive Safeguarding trainin&
New Governors complete mandatory"New Governorf training provided by AGBIS. All Governor5 are
required to attend external trainin& courses and conferences designed to keep them infomled and
updated on current issues and regulations concerning education and governance.
Govemors, Directors and Charlty Trustees
The Governors of Homefield Preparatory School Trust Limited {"the School", "the Charitf, "the
Companv or"Homefield-) are the School's charitytrustees undercharity law and the directors of the
charitable company. The members of the Goveming Body who served in office as Governors durin8
the year and subsequently are detailed below:
Ms M G3rdiner Boiling. MA (Cantabl, Graduate LLB (Hons). DipABRSM
Mr S EverestA OBE
Mr A Ahmed. Bsc IHons}
Mr C Akojie. Bsc ACA
Dr G Bamford, Bsc (Honsl, PhD, CPsychol, FPsychol, PGCE
Mrs J Crooke. Bsc (Honsl, ACMA
Mrs G L Gillan, LLB (Honsl, MA Child Studies
Mr J C Loveland, BA (Hons), ACA
Mrs E Rix, BA (Honsl. PGCE
resigned 16 February 2024
appointed A December 2023

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
GOVERNORS, REPORT
Dr H Wllcox. MA. MSC. LLM, MB& MRCP. FRCPath
Choir of Governo
Deputy Chair of Governor
Registered Office
Homefield Preparatory School, Western Road, Sutton, Surrey SMI 2TE
Organisational Management
The members of the Governing Body. as the Charl￿$ trustees. are legally responsible for the overall
management and control of the School. Meetin8s of the full Governing Body are held at least once a
term.
The day-to-day running of the School 15 delegated to the Head and Bursar, supported by other
members of thesenior ManagementTeam. who togetherare the key personnel.The Head and Bursar
attend all meetings of the full Governlro Body and committee meetings.
The Governors Eive of their time freely and the pay and remuneration of the Headmaster and senior
staff is set by the Governors and is kept under annual review. A number of criteria are used in setting
pay:
nature of the role and re5ponsibilitie5
personal performance based on annual appralsals
salaries in the region
the 5ertor average salary for comparable positions
trends in pay
In recent years. flexible pay across both state and private sector has affected the ease of recrultment
to ￿rtain roles. We offer appropriate incentives to encourage enhanced performance in a fair and
responsible manner but remain sen5ltive to the broader issues of pay and employment conditions
elsewhere. We aim to recwit the best qualified and experienced staff and provide scope to reward
them for excellence. The Governors have, however, given delegated authority to the Headmaster to
pay higher salaries for exceptional candidates where this is in the interest of the School.
The Key Management Personnel
Head:
Mr A S Naismtth, BEd. (Hons)
Mr C Hammond, BA (Honsl, PGCE, QTS
Mrs G Anderson, BA (Hons), PGDip Ed
resigned 31 August 2024
appointed I" September 2024
effective 22 April 2025
Head elect:
Bursar:
Ms N Nwaejike, BACC {Hons), FCA, AsslCIPD)
M5 A F Owens
resigned 1° February 2024
appointed 2 February 2024
reslgned 30 April 2024
appointed I" May 2024
Mr C J Kin& BMu5 (Hon51, MBA, MCGI, LR5M
Deputy Head: Mr Z Stva, Bst (Hons), PGCE
Mrs L CrooK BEd, MA
resigned 4 March 2024
appointed 5 March 2024
Asst. Head
Pastoral..
Mr E Smlth BA (Honsl. QT

HOMEFIELD PREPARATORY SCHOOL TRusf LIMITED
GOVERNORS. REPORT
Asst. Head
Lower School: Mrs E Field, BA (Hons) QTS
Bankers..
Lloyds Bank plc, 49 High Street, Sutton, Surrey SMI IDX
Audltors-
TC Group, The Courtyard, Shoreham Road. Steynin& West Susse& BN44 3TN
Employment poll
The School 15 an equal opportunities employer.
Relatlonships
The School is a memberof the IAPS, AG815. and ISBA for the promotion, maintenance and delivery of
excellence In educ*lon to the age of 13. The School attively contributes to the local community in a
number of different ways, as detailed below under Public Benefit.
OBJEcfs, AIMS, OBJEcfivES AND ACTivrriES
Objects
The Objects of the Company, in accordance with its Articles of Association and the Charity's governing
document, allow for the education of boys UP to the age of 13 years.
StrateBiC aim and intended effect
At Homefield, we aim to provide a safe and happy environment, with a real depth of specialist
teachin& to enable academic success. We invest in an ambitious curriculum for all our boys. This goes
beyond English. Maths and the sciences, Quality and vitality inform the humantties, the arts and sport.
This breadth and depth ensures a wider fulfilment of our boys. individual potential, in 'hand, head and
hearv.
We seek to develop deeper study skills and aptitudes toward learnin& such as research or
collaboration. in order to inspire independent thinkers who work well with others and are eager for
challenge, Wellbeing within our community sets us on this caring path.
We aspire to be a truly c05mopolitan school, with a rich diversity both, reflecting and supporting our
place as a charity within the wider community of London. We aim for a generous education of
knowledge and skill, but also ethical character so that our boys not only 'do well. but 'do good.. With
roots in the nineteenth Century, our mission embraces the 21 where well-bein8 3nd civic virtue are
key to our school's character and Suc￿sS.
Objectives
The Board's main objective continueto be to educate all the Schoofs pupilsto achieve their maximum
individual potential in all of the academic and extra-curricular opportunities offered throughout the
School, Our strategy for achieving this was. and is. to maintain a commitment to the delivery of best
prartice, exemplifled by a strong teacher-to-pupil ratio and by seeking to meet the individual needs
of all pupils.
Activities
The Charitrfs principal activity continues to be the provision of a preparatory day school education to
pupils ranging from 3 to 13 years of age.
Public Benefrt
In setting objectives and planning activities the Governors have given careful consideration to the
Charity Commission's general guidance on charitable purpose and public benefiL and in particular to

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
GOVERNORS. REPORT
its supplementary guldance on the advancement of education. Homefield Preparatory School Trust
Limited is a charitable trust which 5eek5 to benefit the public through the pursuit of its objects, alms
and objectives. Fees are set at a level to ensure the financial viabifity of the School and at a level that
is consistent with the achievement of its aims and objectives. The School's charitable objetts are "to
provide education", such objects are recognised as benefitting the public when pursued in the context
of formal educatlon In a body where all surplu5 funds are re-invested. The School is a charitable body
with no external shareholder5 and no p055ibility of making distributions whether in the form of
dividends or otherwise. All surpluses are rfrinvested In education.
The awarding of bursaries for those who could not otherwise afford independent education Is a
measurable means of providlng public benefit. The Governing Body takes the view that bursarie5
awarded to those who would not otherwise be able to afford the fees are important, but not to the
exclusion of the much wider benefit that the School provides within the community- Those pupils who
attend our school and who re￿1ve financial support contribute to the School community in a variety
of ways, and 50 the benefit is not purelytothose pupils but to the whole School. The total for bursaries,
discounts and awards in the year to 31 August 2024 were £91.250 (2023: £82,565).
In addition to the charitable activities of the children. the school makes available our sports facilities.
either free of charge or at a nominal rate. to local sports clubs in the evenin85 and weekend5 when
not in use by the pupi15 at the school and in keeping with planning restrictions imposed by the local
authority. We facilttate local charities. use of our minibuses for hollday clubs and day trips.
ACHIEVEMENTS AND PERFORMANCE
The Board is pleased to report the achievement of its pupils in attainin8 their highest potential as
measured by value added criteria- eKamination results and their successful graduation to their
preferred senior school.
As with previous years. the 2023-2024 academic year was an extremely successful one, with a high
proportion of b(rys gaining grammar school offers (￿) and entry into highly selective Independent
senior schools such as Eton and Kings College. 23% of our l)oys were awarded a place at Wilson's
School, one of the top Grammar schools in the country.
The CATS scores for the boy5 in Year 6 showed that 100% of boy5 were at or above the national
standards, with 90% of year 8 boys reaching the same standard. Over 30% of both cohorts attained a
result exceptionally above the national standard.
Year 8 pupi15 had a 100% pa55 rate at Common Entrance and obtained places for their chosen senior
schools. 100% of our boys attained an A-A* in Engllsh at Common Entrdnce, 91% gained grade A" to
B in En81ish, Math5 and Science combined. In all, 39 Scholarship awards were offered to Year 6 and
Year 8 pupils by highly respected senior schools, an increase from 28 the previous year. and 19 the
year preceding that
Music and Drama
Music and Drama have remained central to our commitment to nurturing creativity, confidence, and
a love for the perfomiin8 arts. Specialised teaching in music begins from Nursery, with Nursery and
Reception boy5 enjoying three weekly sessions and Years I to 8 participating in two lessons per week.
Around 70% of boys took private instrument lessons this year. Drama is introduced from Year I, with
weekly lessons continuing into the Upper School, led by our Head of English and Drama. Love Theatre
Arts also offers one-to-one acting tuition. enabling boys to work towards Trinity grades.

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
GOVERNORS, REPORT
Performance opportunities abound, with 16 weekly ensembles, including choirs, ensembles and
orchestras. Annual events such as the Christmas Concert, Peri Prom concerts, the Year 6 Musical. and
the Lower School Christma5 Show are key highlights, alongside ensemble performances at Prize
Glvlng. Whole-year group slnging remains a distinctive feature, culminating in school-wide
performances at a55emblies and two major concerts each year. Collaborations with schools such as
Epsom College and Kings College Wimbledon. alongside trips to venues like The Globe Theatre, have
enriched the boys, experiences.
In 2024, our boys, talents have been recognised with 12 muslc and drama scholarshlps to leading
schools, including Trinity School, and Whitgift School.
Science and STEAM
science at Homefield has been a keyfocus. Specialist teaching begins in Year 3. Lesson time has been
expanded, wlth Years 3 to 5 recelving 120 minutes of science each week, Year6 enjoying 160 minutes,
and Years 7 and 8 benefitin8 from 2(K) minutes weekly. Our state-of-the-art laboratories. equipped to
secondary school standard5, have enabled boy5 to undertake advanced experimental work.
To enrich the curriculum, we introduced termly Science Days for Years 7 and 8, allowing in-depth
exploratlon of key topics. Exclting opportunities this year included a Year 6 trip to London Zoo, where
boys studied animal adaptations and conservation, and a Year 7 ecolo8y fieldwork trip. Workshops.
such as the Bloodhound Rocket Car project and planetarium session5, further broadened their
horizons.
Our commitment to excellence was reflected in the success of our National Science Quiz Club teams,
with Year 5 and Year 6 boy5 once again reachingthe national finals and securlngtop 10 placements.
STEAM has been at the forefront of our efforts to prepare boys for a rapidly changing world. Through
a dedlcated 40-minute weekly lesson, projects like building rocket-powered vehicles have fostered
hands-on learnin& collaboration, and innovative problem-solving. Coding has been a particular focu5,
with younBer boys introduced to Marty the Robot and Lego codable software. laying the groundwork
for future technological fluency.
We've also strengthened partnerships with engineering initiatives. 8oys in Year 2 and Year 6
participated in a programme with Primary Engineer and Network Rail, working abngside professional
engineers to explore rail safety. In Years 3 and 4. boys excelled in the Leaders Award Scheme,
identifying real-world problems, and proposing engineering solutions. with two of their designs turned
into prototypes by Kingston University.
Art
Homefield celebrated the boys, artistic talents through initiatives like the Artist of the Week
programme and the annual Christmas Card Competition. The Artist of the Week spotlighted
exceptional student creations, showcasing creativity across various mediums. A highlight of the year
was a child in Year 6 winning the Christmas Card Competition with his Stunning 'Abstract Christmas,
design. which was featured as the official school card.
Sport
At Homefield. we believe that sports education goes beyond winning trophies. Our sports for all.
value-added approach focuses on holistic development, ensuring that every boy benefits from the
physical. mental, and social aspects of sports. This year we have introduced a comprehensive fitness
programme that caters to all skill levels, encouraging boys to set personal goals and track their

HOMEFIELD PREPARATORY SCHOOL TRUST UMITED
GOVERNORS, REPORT
progress. This initiative has not onty improved overall frtness but also b005ted self*steem and
resilience. Our sports department has a150 prioritised inclusivity. offering a wide range of activities to
ensure that every student finds a sport they love. From the tradttional team sports of football, ru8by
hockey and cricket to individual pursuits like tenni5, dance and gymna5tiC5, we provide opportunities
for all boys to participate and excel.
Moreover, we have integrated sports wtth academic learning through our "Sports and Studies.
programme for year 7 and 8 pupils. This initiatNe helps students balance thelr academlc
responslbllitles wlth their sporting commitments, fostering time management skills and discipline.
The boys from year 3 to year 8 played In over 120 competitive frxtures in football, rugby, hockey and
cricket. The cross-country team competed at the Regional cross country competition held at Epsom
College, thereweretwo 5wimmingga13s atsutton High school and tr40full schoolsports days. Notable
success in Sports fixtures was the year 3 cricket Atearn who wentthe whole season unbeaten. Ayear
7 boy and captain of the first 11 cricket team represented Surrey at county levd. Individual Suc￿55
also came at National level for a boy in Year 4whowon the IAPS national Judo competttion.
Sports at Homefield are notjust aboutcompetition;theyare about buildingchar￿ter and community.
Our boys have engaged in two outreach festivals run by the Homefleld puplls and PE staff for local
state primary school in athletics and cricket. These experience5 have taught the boy5 the importance
of empathy, teamwork. and leadership.
In conclusion,the pa5tyearhas been a remarkable joumey of growth and achievement ft)r oursports
department. We are intredibly proud of our boys and thelr accomplishments, and we remain
committed to providin8 a supportive and enrichin8 environment for their continued development.
ISI Inspectlon
The School was inspected by the Independent Schools InspectOTate in September 2024. The inspettor5
looked at all aspects of school life in great detail and the report is very comprehensive. The School is
delighted with the inspectors. comments a1￿ul.
the quality of our boy< education, training and recreation.
pupils, physical and mental health and emotional wellbein
pupils, social and economic wellbeing and contrlbution to society, including careers.
We are further delighted that the quality of our academlc and pastoral provision, teaching and
learning and extra-curricular activities have been praised.
We are, of course, disappointed with some elements of the report, but pleased that the report
re¢ognises the significant work and progress that has been made over recent few month5. We look
forward to welcoming inspectors back as soon as possible into 2025 in a short visit to monitor that
progress.
FINANCIAL REVIEW
Results for the year
The Charitvs net outgoing resources were £214,574 (2023: net incoming resources £397.8861.

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
GOVERNORS, REPORT
Resenres level and policy
The Board has established a general reserve policy to afford some protection to the School and its
haritable programme and to provide time to adjust to changing financial circumstances. In the light
of challenges in the independent sector, the governors are reviewing the reserves pollcy for the 24125
accounts.
PRINCIPAL RISKS AND UNCERTAINTIES
The Governors have an established pro￿dure to review key risks on an on80ing basis.
The economic environment has not been helpful to independent schools over the past several years
and many have closed as a result, with those outside the south East bearing the brunt. We have been
secure at Homefield throughout this period but we have also been financial￿ prudent. Even during
thls tricky economic climate, we have continued to invest further in the School, and we will continue
to irnprove and enhance the School's facilities as our finances allow. Homefi'eld has a strategic plan in
place to grow In numbers, however. we never lose sight of the fart that Wtthin our resources, we must
provlde the best P055ible education and learning environment for our pupils.
The Governmenvs tax policles contained in their Autumn Budget in October 2024 will have
significant impact on all independent schools throughout the country. including Homefleld. The
decision bythe Governmentto implementthese chan8es mid-academic yearmean5 thatschools have
had little time in which to make any structural changes to their provision for the academic year
2024125. The addition of VAT on school fees, the removal of mandatory business rates rellef, the
increase in employerfs Nation31 Insurance and the increase in the National Living Wage will require
high level of re-budgeting and forecasting forthe academic year 2024125 and beyond.
The risk management process identifies risks, assesses their impact and likelihood, and where
necessary, recommends controls to mitigate and monitor those risks assessed as high. The generic
controls used to minimise risk include..
A full high level risk register reviewed by the Head. Bursar and Governing Body:
Detailed terms of reference together with formal agendas ftjr each committee and full
Governing Body meeting-
Strategic development planning;
Comprehensive budgeting and management accounting;
Est2blished organisational structures and line of reporting.
Formal written policies arKI approval levels; and
Vettin8 procedure5 as required by law for the protection of the vulnerable.
FLrruRE PLANS
The recruitment and retention of pupils is of paramount importance, given the economic climate in
the UK.There isan increased focus on effective Marketing and Admisslons, embracing the use ofsocial
media to reach potential homefield families.
The School will reopen Its Nursery in September 2024. due to a healthy appetite for agethree nursery
places in the local area, and to provide a natural feeder into the Reception classes.
Following the departure of Mr Naismith as Head. the Governors are delEhted that Mrs Ander50n is
taking up the role in 24/25 and fully ernbedding her into the Homefield community is a key objective
forthe nextyear. The Board would like to thankmr Hammond for his excellent tenure as Interim Head.

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
GOVERNORS, REPORT
The Board continues to strategically plan for the future through a programme of development and
investment to:
provide a stimulating leaming envlronment In which pupils can develop their academic
potential to the full-
ensure the teaching facilities for our pupils are of a high quality:
provide a happy and secure pastoral environment. in which all pupils are offered opportunities
for leadership and service to other5-
offer all pupils the opportunities of experiencing a broad range of intellertual, cultural,
sportin8 and wider-community influences-
increase the capabilty of the School to offer education to chlldren whose Pa￿nts are unable
to afftjrd full fee5, particularly Children Looked After,.
5UPPOrt members of Staff. particularly middle managers, with opportunities to develop their
5ki115 and career5;
ensure that the School play5 a Significant part in the life of the local community. sharing
facilities and seeking local partnerships wherever possible.
STATEMENT OF GOVERNORS, RESPONSIBIL￿lEs
The Governors (who are also the directors of Homefield Preparatory School Trust Limited for the
purposes of company lawl are responsible for preparlngthe Governors. Annual Report lincorporating
the Strategic Report) and the financial Statements in accordance with applicable law and United
Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice), including
Financial Reporting Standard 102 Yhe Financial Reportin8 Standard in the UK and Republic of Ireland,.
Company law requires the Governors to prepare financial statements for each financial year which
give atrue and fairview of the state of affairsof thecharitable companyand ofthe incomingresources
and application of resource5, including the income and expenditure, of the charitable company for
that year.
In preparing these financial statements. the Governors are required to:
select suitable accounting policies and then apply them consistently;
observe the method5 and principle5 in the Charities, SORP.
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitsble company will continue in operation.
The Govemors are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at anytime the financial position of the charitable company and enable them to ensurethat
the financial Statements comply with the Companie5 Act 2006. They are also responsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention of fraud and other irregularities.

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
GOVERNORS, REPORT
DISCLOURE OF INFORMATION TO AUDITORS
Each of the Governors has confirmed that there is no information of which they are aware that 15
relevant tothe audit, but ofwhich the auditoris unaware. They have further confirmed that they have
taken appropriate steps to identify any such relevant information and to establish that the auditor is
aware of such infomiation.
This report. including the strategic report, was approved by the Governor5, a5 Director5 of the
charitable com pany, on 4 February 2025 and signed on their behalf by:
M5 M Gardiner Boiling
Chair of Governors

HOMEFIELD PREPARATORY SCHOOL TRusf LIMITED
REPORTOF THE INDEPENDE￿ AUDtroRS TO THE MEMBERS
We have audited the financial Statements of Homefield Preparatory School Trust Limited (the
'charitable company'l and its subsidiary I'the group,) for the year ended 31 August 2024 which
comprise the Con501idated Statement of Financial Activities, the Consolidated Balancesheet, the
charitable company Balance Sheet, the Consolidated Cashflow Statement and note5 to the
financial statements. Thefinancial reportingframeworkthat has been applied intheir preparation
is applicable law and United Kingdom Accounting Standard5, including Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom GenerallyAcceptedAccountin8Prattice}.
In our opinion. the financial statements:
give a true and fair view of the state of the group and the parent charitable company's
affairs as at 31 August 2024 and of its incoming resources and application of resources.
including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
have been prepa￿d in accordance with the requirements of the Companies Act 2006.
Basis of QPTnion
We conducted our audit in accordance with Intemational Standards on Au￿lting IUKI {ISAs (UK))
and applicable law. Our responsibilities under those standards are further described in the
Auditor's ￿sponSibl11t1es for the audit of the financial ststernents section of our report. We are
independent of the group in accordance with the ethical requirements that ale relevant to our
audit of the financial statements In the UK. Includlng the FRC'S Ethical Standard, and the
provisions available for small entities. and we have fulfilled our ethical responsibilities in
actordance with these requirements. We believe that the audit evidence we have obtained is
suff icient and appropriate to provide a basis for our oplnlon.
Concluslons relatlng to golng concern
In auditlng the financial statements. we have concluded that the governor's use of the going
concern basis of accounting in the preparation of the financial statements 15 appropriate.
Based on the work we have performed, we have not identified any material uncertainties relatlng
to events or conditions that, individually or collectively, may cast doubt on the charitable
companWs and group's ability to continue as a going concem for a period of at least ￿e1ve
months from when the financial ststements are authorised for issue.
Our responsibilitles and the responsibilities of the governors with respect to going concern are
described in the relevant Sections of thi5 report.
Other infomiation
The govemors are responsible for the other information. The other information comprises the
Information included in the governors, report, other than the financial statements and our
auditor's report thereon. Our opinion on the flnancial statements does not cover the other
information and, except to the extent otherwise explicitly stated in our report, we do not express
anyform of assuranceconclusionthereon.
io

HOMEFIELD PREPARATORY SCHOOL TRusf LIMITED
REPORT OFTHE INDEPENDEKfAUDrroRSTO THE MEMBERS
In connection with our audit of the financial statements. our responsibility is to read the DthÈr
information and, in doin8 so, consider whether the other information Is materially Inconslstent
with the financial statements or our knowledge obtained in the audit or otherwise appears to be
materially misstated. If we identify such material inconsistencies or apparent rnaterial
misstatements, we are required to determine whether there is a material misstatement in the
financlal statementsora material misstatementofthe otherinformation. If, based ontheworkwe
have performed, we conclude thatthere is a material misstatement of this other information, we
are requiredto reportthatfact.
We have nothing to report in this regard.
Oplnions on other matters prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audlt:
the information given in the governors, reportforthe financial yearforwhich thefinancial
statements are prepared is consistent with the financial statements: and
the goveinors. report has been prepared in accordance with applicable legal
requirements.
Matters on whl¢h we are requTred to report by exceptlon
In the light of our knowledge and understanding of the charitable company and group and Its
environment obtained in the course of the audit, we have not identified material misstatements
in the governors, report.
We have nothingto report in respect of thefollowing matters in relation towhich the Companies
Act 2006 requires us to report to you if, in our opinion-
adequate accounting records have not been kept by the charitable company and group,
or returns adequateforouraudit have not been received from branches not visited byus;
or
the financial statements are not in a8reementwith the accounting records and returns- or
certaindisclosures of directors. remuneration specified by laware not made; or
we have not received all the information and explanations we require; or
Re5pon5ibilities of the governors
As explained more fully in the governors, responslbilities statement. the governors{who are also the
directors of the charitable company for the purposes of company law) are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and
for such internal control as the governors determine is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud orerror.
In preparing the financial statements, the governor5 are responsible for assessing the charitable
company's and group's ability to Ct)ntinue as a going concem, disc105in8, a5 applicable, matters related
to going concern and using the going concern basis of accounting unles5 the governors either intend
to liquidate the charitable company and group or to cease operations. or have no realistic alternative
to do 50.
li

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
REPORT OFTHE INDEPENDEKfAUDITORSTO THE MEMBERS
Auditorfs responsibilities for the audSt of the financlal statements
Our objectives are to obtain reasonable assurance aboutwhether thefinancial Statements a5 a whole
are free from material mi55tatement, whether due to fraud or error. and to issue an auditor's report
that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee
that an audit condutted in accordance with ISAS (UK) will always detect a material mi55tatement when
it e￿Sts. Mi55tatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be experted to Influen￿ the economic dea5ions of user5 taken
on the basi5 of these financial statements.
Irregularities. Includin8 fraud, are in5tsnces of non-complian￿ with laws and regulations. The extent
to which our procedure5 are capable of detecting irregularities. induding fraud, is detailed below.
Extent to which the audrt was considered capable of detecting irregularities, Indudlng frdud
The objectives of our audit, in respect to fraud, are: to identify and assess the rlsks of materlal
misstatement of the financlal statements due to fraud: to obtain sUffic￿nt approprlate audlt evldence
regarding the assessed risks of material mi55tatement due to fraud, through designing and
implementing appropriate responses; and to respond appropriately to fraud or 5usperted fraud
identified durin8 the audlt. However, the primary responsibility for the prevention and detection of
fraud rests with both those charged with governance of the entty and its management.
Our approach w35 as follow5:
We identified areas of laws and regulations that could reasonably be expected to have a
material effect on the financial statements from our general sector experience, and through
discussion with the Governors, and other management (as required by audltlng standards),
and dlscussed the Governors, and other management the policies and procedures
regarding compliance with laws and re8ulations (see below);
We identified the following areas as those most likely to have such an effect: health and
safety. General Data Protection Regulation (GDPR); fraud; bribery and corruption. school
inspections, keeping children safe in education {statutory guidancel, DBS check5 and
employment law. Auditing Standards limit the required audit procedures to identify non-
compliance withthese13ws and regulationsto enquiryof the trustees and other management
and inspection of regulatory and legal correspondence, if any. The identified actual or
suspected non-complian￿ was not sufficiently significant to our audit to result in our
response being identified as a key audlt matter.
We considered the legal and regulatory framewoTk5 directly applicable to the financial
statements reportin8 framework IFRS 102, the Companies Act 2(K)6 and the Charities Act
20111 and the relevant taxcompliance regulatiorns in the UK.
We considered the nature of the charitable compa￿5 operations, the control environment
and financial performance.
We communicated identified laws and regulations throughout our team and remained alert
to any indications of norKompliancethroughout the audit.
We considered the procedures and controls that the charwtable company and group have
established to address risks Identified, or that otherwise prevent, deter and detect fraud- and
how senior management monitors those pro8rammes and control5.
12

HOMEFIELD PREPARATORY SCHOOL TRUSf LIMITED
REPORT OF THE INDEPENDENT AUDITORSTOTHE MEMBERS
Based on this understanding we designed our audit procedures to identify non-compliance with such
laws and regulations. Where the riskwas considered to be higher. we performed audit procedures to
address each Identified fraud risk. These procedures included- testing m anual journals: reviewing the
financial statement disclosures and testing to supporting documentation. performing analytlC31
procedures. and enquiring of Management, and were designed to provide reasonable assurance that
the financlal statements were free from fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have
detected some material mi5St3tements in the financial statements. even though we have properlv
planned 2nd performed our audit in accordance wwth auditin8 Standard5. For example, the further
removed non-compliance with laws and regulations (irregularities) is from the events and tran5action5
reflected in the financial statements, the less likely the inherently limited procedures required by
auditing standards would identify it. The risk is 3150 greater regarding irregularitie5 occurring due to
fraud rather than error, as fraud involves intentional concealment. forgery. collusion, omission or
misrepresentation. We are not responsible for preventin8 non-compliance and cannot be expected to
detect non-compliance with all laws and regulations.
Use of our report
This report is made solely tothe charitable companrfs and group's members. as a body, in accordance
with Chapter3 of Part 16 ofthe Companies Act 2006. Our auditwork has been undertaken so that we
might state to the charitable company's and Eroup's members those matters we are required to state
to them in an auditors, report and for the no other purpose. To the fullest extent permitted by law,
we do not accept or assume responsibility to anyone other than the charitable company and group
and the charitable company's and group's members. as a body, for our audit work, forthis report, or
for the opinions we haveformed.
Mark Cummins FCCA
Senior Statutory Auditor
for and on behalf ofTCGroup
Statutory Auditors
Office: SteyninE, West Sussex
Dated:
13

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
CONSOLIDATED STATEMENT OF FINANCIALAcrivrTIES
(INCLUDING INCOME & EXPENDITURE ACCOUNn
FOR THE YEAR ENDED 31 AUGUST2024
Unrestricted Restrkted
Fund5
Funds
Total Funds
2024
Total Fund5
2023
Notes
INCOME FROM:
Donations
23.335
Other trading attivities
107
107
103
Investments
21,145
.145
5,442
Charitable actIv￿leS
4.401.954
4401.954
4.583,078
Other income
27.n2
27,722
215,376
Total income
4A50,928
4980
4,455.908
4,827.334
EXPENDITURE ON:
Raising funds
1.423
1.423
2,012
Charitable actlvltles
4.669.059
4,669,059
4,427.436
Total expenditure
io
4,670,482
4.670.482
4.429.448
Net Incomellexpenditurel
1219.554}
(214.574}
397.886
Transfer betsveen funds
23
4980
Net movement in funds
P14,574D
(214S74}
397.886
Fund balances brought forward
9,871,802
3046
9,875.248
9.477,362
Fund balances carried for4Yard
22
9.657,228
3.446
9.660.674
9,875,248
All income and gains forthe year are recogni5ed above. All the schty)1'5 attwrtles a￿ classlfled as continuing.
The 5tstement of financlal activities also complles w5th the requirements for an irKome and expenditure account under
the Companies Act 2006.
There are no recognised gains or losses other than those reported on the Statement of Financial Attwities.
The notes on pages 18 to 29 form part of these financSal ststements.
14

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
CONSOLIDATED BALANCE SHEEr
Company Number: 00887719
AS AT 31 AUGUST 2024
Not¢$
2024
2023
RESTATED
Flxed assets
Tangib18 assets
12
9.821.541
10,080,778
Current assets
Debtors and prepayments
Current asset investments
Cash at b8nk and in hand
15
14
70,380
500,000
1.251.353
73,472
300,￿0
1,418050
1.821.733
1.792,322
Creditolg: amounts falling due Yiithin
oneyear
16
{949Nn)
(901.700}
Net current assets
8n,261
890,622
Creditors: amountsfauingdue after
more than oneyear
17
(1.033J281
11.096,1541
Net assets
9W.674
9,875,248
Represenled bw.
Restricted funds
Unrestrl¢tgd lunds:
General school funds
22
9,657,228
9,871,802
9.660,674
9,875,248
The accounts were approved by the Board of Governors and signed on thelr ￿half by:
Ms M Gardiner Boiling
Governor
Mr5 J Crooke
Governor
Date:
4 February 2025
The notes on pages 18 to 29 forni part of these financial 5taternents.
See note 13 for detalls of a prfor year adlustmenL
15

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
COMPANY BALANCE SHEEr
Company Number. 00887719
AS AT 31 AUGUST 2024
Note8
2024
2023
RESTATED
Fixed 088ets
Tangible assets
Investments
12
19
9A21.541
10,080,778
Current 8$$ets
Debtors and prepayments
Current asset investrnents
Cash at bankand in hand
15
14
70.380
51X),OOD
1.251353
73.472
3¢Jl.0
1.418.850
L821.733
1.792,322
Creditors: amounts failing due withln
on8J yoar
16
(949,4721
1901,7001
Net current as8et8
872.261
8￿,622
Credilors: amounts falling due after
more than oneyear
17
11,033.128)
11.096.1541
Net aSS8ts
9.660.676
9,875,248
Reprasented by:
Restricted funds
Unrestrlcted funds:
3,446
Genoral school funds
22
9.657,230
9,871,802
9.660.676
9,875,248
The accounts were approved by the Board of Govemor5 and signed on their behalf by.
s M Gardiner Boiling
Governor
Mrs J Crooke
G0ven￿r
Date:
4 February 2025
The notes on pages 18 to 29 form partof these financial statements.
See note 13 for details of a prior year adjustmo
16

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
CONSOLIDATED STATEMENTOF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST2024
2024
2023
RWATED
Notes
Cash f lows from operating artivitie5:
Net income/(expenditurel for the year
Adlustments for:
Depreciation charges
Interest recelvable
Interest payable
Early loan repayment fee
Lossllprofitl from sale of tangible fixed assets
Ilncreaselldecrease in stock
Ilncre35elldecrease in debtors
Increaselldecreasel in creditors
Net cash provlded byllused Inl operatlng
artivitie5
{214574)
397.886
337A50
{21,145)
31.398
341,787
15.442
49,990
1206.176
191
1,781
1,114
1380,3631
3.092
47,T12
398.567
1197,118)
Cash flows from irwesting activities:
Interest receivable
21.145
(31.398)
(72.6891
(200.0(KII
5,442
149,9901
1200,756)
1300,000)
Interest payable
Purchase5 of tangible fLxed assets
Purchase of current asset Investments
14
Net cash provided by/lused in) investing artivilie5
(282,9421
1545,3041
Cash flows from financing actfvities:
Eafly loan repaymentfee
Loan repayments
Net c45h provided by/lu5ed in) finonrin8 artivities
206,176
1.310,851
{68.548)
11.104.675)
Change In fash and cash equfvalents In year
Cash and cash equNalents at the be8inninE of the
year
1167,4971
IIA49,2111
1,418,850
2,868,061
Cash and cash equivalents at the end of the yÈar
1.251,353
1,418,850
Analysis of changes in net funds
Brought forward
Cash flows
Carrled foNard
Cash at bank and in hand
Current asset investments
Bank loans
I.418￿50
300,000
1.174,149)
1167,497)
20D,000
68.548
1,251,353
500.000
11,105,601}
645,752
544,701
101,051
17

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
Ststutory inforniation
Homefield Preparatory School Trust Limited 15 a private charitable company. Ilmlted by guarantee,
incorporated in England and Wales.The charitsble companrfs registered numberand registered office
addres5 can be found on the legal and administrative information page.
Accounting policies
Basls of preparation
The financial Statements have been prepared in accordance with Accountlng and Reporting by
Charitie5: Statement of Recommended Practice appllcable to charities preparing their accounts in
accordan￿ with the Financlal Reportin8 Standard applicable in the UK (FR51021 leffettive l January
20191- Charities SORP IFRS1021, the Financial Reporting Standard applicable in the UK and Republic
of Ireland {FRS102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS102. A￿ets and
liabilities are initially recognlsed at C05t or transattion value unless Otherwise stated in the relevant
accounting policy. The financial staternents are prepared in Sterling and rounded to the nearest £1.
After reviewing the tharitable company's forecasts and projections, the Governors have a reasonable
expectation that the charitable company has adequate resources to continue in operational existence
for the foreseeable future. The charitable company therefore continues to adopt the going concern
basis in preparing its finanual statemen
Estimates and judgements are continually evaluated and are based on historlcal experience and other
fartors, including expectation5 of future events that are believed to be rea50nable under the
circumstances.
In the opinion of the Governor5, no assumptions conceming the future or estimation certalnty
affecting assets and liabllities at the balan￿ sheet date are likely to resutt In material adjustment to
their carrying amounts in the nextfinanclal year.
Income
Fees re￿[Vable and charges for Servi￿$, le55 any allowance5, Scholarships and bursaries granted by
the school a8ainst those fees are accounted for in the period in which the charity is legally entitled to
it after any performance conditions have been meL the amounts can be measured reliably, and it is
probably that income will be received.
School fees are accounted for on a re￿Nable basis. Fees for a future service period are included in
deferred income, including those fees received under an advance fee payment scheme. The services
provided are currently outside the SCOFQ of VAT.
Realised and unrealised gains and losses on investments are reflected through the Statement of
Financial Activities.
Investment income is accounted for on an accruals basis.
18

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
2. kcounting policies (continued)
Donations, legaciesi grants and other voluntary income are accounted for as and when entitlement
arises. the amount be reliably measured, and theeconornic benefit is considered probable. Where
a donor or an appeal has imposed restrirtions, the income is credited to a restricted fund.
Expenditure
Expenditure is recognised once there is a le8al or constructive obligation to make a payment to a thlrd
party. it is probable that settlement will be required. and the amount of the obligation can be
measured reliably. Expenditure is accounted for on an accruals basis with irrecoverable VAT included
with the item to which it relates.
Charitable expenditure includes all expenditure dirertly related to the objects of the charitable
company, and the related support costs, which comprise all the expenditure on the management and
the administration of the charitab5e company. including an appropriate portion of the Head's and
Bursar's time.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charlty and include the audit fees and costs linked to the Strategic management
of the charity.
All costs are allocated between expenditure categorles and departments on a basi5 designed to reflect
the use of the resource. Costs relating to a particular activlty are allocated directly.
2A
Tangible fixed 355ets and depreciation
T2ngible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is
provided at rates calculated to write off the Cost less estimated residual value of each a55et over its
expected useful life 35 follows:
School building5
Furniture & equlpment
Motor vehicle5
Computer equipment
2- 21YA straight line (from the date brought into usel
25% straight line
20% straight line
33.3% straight line
At each reporting date. the charitable company reviews the carrying amounts of its tangible fixed
assets to determine whether there is any indication that those assets have suffered an impairment
loss. Any such loss would be recognised immediately as expenditure in that year.
No depreciation has been provided on land.
Operating lease commitments
Rentals applicable to operating lease5 where substantially all benefits and the risks of ownership
remain with the les50r are charged to the Statement of Financial Activities over the period of the lease.
19

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
Accounting pollcles (continued)
Penslons
The charltable company makes pension contributions for teaching staff through the scheme operated
by the Teachers, Pension Agency. Contributions are made to personal pension plans for their staff at
the dlscretion of the Board. Both schemes are regulated by the Pensions regulator. All costs are
charged to the Statement of Financial Attivities in the period in which they are incurred.
Operating leases
Rentals applicable to operating leases where substantially all benefits and the risks of ownership
remain with the lessor are charged to the Statement of Financial Activitie5 over the period of the
lease.
Employee benefits
The cost of any unused holiday entitlement 15 recognised in the period In which the employee's
services are received.
Termination payments are recognised immediately as an expense when the charitable company is
demonstrably commFtted to termlnate the eMplO￿lent of an employee or to provide termination
benefits.
Cash at bank and In hand
Cash at bank and in hand include5 cash in hand, short term highly liquid investments with original
maturity dates of the months or less. and bank overdrafts. The Governors seek to use short- and
medium-term deposlts where possible to maximise the return on monies held at the bank and to
manage cash flow.
2.10 Debtors
Fees and extra5 receivable and accrued income are recognised at the settlement amount due.
Prepayments are valued atthe amount prepald.
2.11 Creditors and provisions
Creditors and provisions are recognlsed where the charitsble company has a present obligation arising
from a past event that will probably result in the transfer of funds to a third party and the amount due
to Settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised
at theirsettlement amount.
2.12 Loans and borrowiftgs
Loans and borrowings are initially recognised at the transaction price including transaction costs.
Subsequently, they are measured at amortised tost using the effertive interest rate method. less
impairment. If an arrangement constitutes a finance transaction it is measured at present value.
2.13
Financial instruments
The charitable company only has financlal assets and liabilities of a kind that qualify as basic financial
instruments which are inltlally recoBlli5ed at transaction value and Subsequently measured at their
settlement value.
20

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policles (contlnuedl
2.14 Fund accountlng
Unrestritted funds comprise those fund5 which can be used in accordance with the charitable objects
at the discretion of the Eovernors.
Restricted funds are those funds that can only be used for particular restricted purposes in accordance
with the wishe5 of the donor or when funds are raised for particular restricted purposes.
2.15 Crltlcal accountlng estimates and judgements
In the application of the Group's accounting policies, the Governors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Artual results may differ from these
estimates.
The estimate5 and underlying 3S5umption5 are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised.
The Govemors do not conslder that there are any critical estimates or area5 of judgement that need
to be brou8ht to the attention of the readers of the financial statements.
Turnover
The turnover of the charity Is wholly attributable to the objects of the charity as stated in the
Governors, Report and is earned entirely within the UK.
This is stated after charging:
2024
2023
Operating lease payments
Depreciation
Loss on disposal offixed assets
Auditors. r8muneration- audit Services (see note 10)
31.049
337.450
21.839
341,787
191
14A74
6,600
Taxatlon
The charitable company is registered as a charity and all of its income falls within the exemptions
under Part 11 of the Corporation Tax Att 2010.
Income from donations and legacie5
Unrestricted
Restricted Total 2024
Total 2023
Donations
4,980
4.980
23,335
21

HOMEFIELD PREPARATORY SCHOOL TRusf LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
Income from other trading activities
Unrestrirted
Restricted Total 2024
Total 2023
School shop
107
107
103
Incorne from investments
Unrestrfcted
Restricted Totsl 2024
Total 2023
Interest receivable
21,145
21.145
5,442
Income from charltable activities
ZO24
2023
Gross school fees
Less discounts
Net school fees
4,374,257
152,285)
4.321.972
4,517,897
{39,3051
4,478,592
Home away club
Registration & assessment fees
School bus seNice and minibus hire
Deposits adjusted and forfeited
9,073
11.500
78,413
5,500
9,450
70.357
175
4.401,954
4,583,078
Other Income
Unrestricted
Restricted Total 2024
Total 2023
Hall facilities/hirlng revenue
Holiday activities
Loan repayment income
Sundry income
917
917
6,800
206,176
1,400
Z6.805
26,805
27.722
27,722
215,376

HOMEFIELD PREPARATORY SCHOOL TRusf LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
10. Analysis of expenditure
School
operatlnE costs
Governance
costs
Total 2024
Total 2023
Costs of ralslng funds
School unlform shop
Total costs of ralslng funds
1.423
1,423
1,423
1.423
2,012
2,012
Charltable actlvitles
Administration and general
Educational
Establlshment
Housekeeping
Depreciation
Total charitable expenditure
641,￿8
2,842.187
433,094
369,136
337.450
4.622,935
26.895
19,229
667.963
2,861A16
433,094
369.136
337.450
4.669.059
697,794
2,553,909
463,148
370,798
341,787
4,427,436
46.124
Total expenditure
4.624.358
46,124
4,670,482
4.429.448
Analysis of governance costs:
2024
2023
Governance costs..
Auditors remuneration for audrt serVI￿S
Accountancy and payroll c05t5
Governors. expenses
Other governance costs
Total governance costs
14.474
11,769
652
19.229
6,600
11,742
119
45,836
46,124
64,297
ii. stsff costs
The aggregate payroll costs for the year were as follows:
2024
2023
Wage5 and Salaries
Social security costs
Pension costs
2,429,045
240.477
412,529
2,189,774
226,111
361,157
3,082,051
2,777,042
The average monthly number of employees durlng the year was-
2024
Number
2023
Number
Teaching
Estates
Administration
46
62
23

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
11. Staff costs (contlnued)
None of the governors recelved any remuneration or other benefits from the school or any connected
body12023: none).
Four Governors12023: Two) received reimbursed expenses in the year of £652 12023: £119) for
travelling expenses and DBS check5 during the year.
Included wlthln staff costs are ex-gratla payments of £141,584 (2023: £Nil).
stsff with emoluments in ex￿$$ of £60.OIXI per annum in the following bands are:
2024
Number
2023
Number
£60,000 - £69,999
£70,000- £79,999
£80.000- £89,999
£120,OtKI - £129,999
Of the employees whose emoluments exceed £60,000. none (2023: none) has benefits accruing under
a defined benefitscheme outslde of theTeachers' Pension Scheme.
The key management personnel of the school are detailed in the Governor￿ Report and Legal and
Administrative Information. In 2024: 7 staff12023: 6 staffj.
2024
2023
Aggregate employee benefwt5 of key management personnel
Ilncluding employer national insurance and pension contributions)
696.689
501,134
24

HOMEFIELD PREPARATORY SCHOOL TRUSf LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
12. Tanglble fixed assets- company and con501idated group
Freehold Land Furniture &
and Buildings Equipment
Motor Computer
vehicles equipment
Total
Cost
At I September 2023
Additions
11.616,423
693.835
19.554
558.870 12888,682
62,629
153,2361
3,302
65,518
131,449
Disposals
At 31 August 2024
Depreciation
At I September 2023
Charge for the year
{53,2361
11,625.816
697.137
19.554
624.388 12,966.895
1.691.167
237,547
567,099
66,275
19,554
530,084
33,628
2,807,904
337,450
At 31 August 2024
1.928.714
633.374
19.554
563.712
3.145,354
Net book value
At 31 August 2024
9,697.102
63.763
60,676
9021,541
At 31 August 2023
9,925.256
126.736
28.786
10.080,778
Included within freehold land and buildings Is £66,000 of land that Is not depreaated.
Aloanfacilitywasgranted on3 August2020 and issecured bya fixed charge overthe school'sfreehold
land and buildings.The carrying value of the assetscharges was £9,697,101 at the balance sheetdate.
The loan facility was made available in an aggregate amount of £2,5Q),000. Two further tranches of
£625,OW each lat 2.70% fixed for 5 years and 2.76% fixed for 10 years) and an additional tranche of
£1.250,WO lat 2.77% fixed for 1Syears}weredrawn down in August2022. Interestreverts to afloatlng
rate after the fixed interest rate period5. All amounts are repayable within 15 year5 from l August
2022. The £1,250,1￿0 loan tranche was repaid in March 2023.
The board considers that the current value of the freehold property is likely to be materially higher
than the carrying value as shown in the flnanclal statements. However, without the beneflt of a
professional valuation the Board 15 not in a position to quantify the difference. The Board considers
that the cost involved in obtaining a professional valuation out of charitable funds would not be of
sufficient benefit to the school to warrant the expense.
13. Prlor year adjustment
Management have detemiined that the fixed deposits recognised as cash at bank in the year ended
31 August 2023 had maturity dates in exce55 of those which would allow them to be classtfied as
demand deposits and should instead be classified as current asset investments. The financial
statements have therefore been restated. The restatement has resulted In cash at bank and in hand
decreasing from El,718,850 to £1,418,850 and other current assets increasing from £73,472 to
£373,472 at the year ended 31 August 2023.

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
14. Current asset Investments- company and consolldated group
AS
RESTATED
2023
2024
Long term dep05its
500,000
3CQ,000
15. Debtors- company and consolidated group
2024
2023
Fee debtors
Prepayments and accrued income
Other debtors
4.533
64,468
1,379
70,380
20.018
40,298
13,156
73.472
16. Creditors: amounts falling due within one year-company and consolidated group
2024
2023
Bank103n15ecured - see note 18)
Trade creditors
Accruals and deferred income
Other creditors
Fees in advan
Deposits
Other taxes and social security
77,995
158,068
76,477
7,109
419,701
162,350
116.624
21,325
45,642
481,501
170,657
41.250
949A72
901.700
Fees in advance represent fees received for Autumn term 2024.
17. Creditors: amounts falling due after one year- company and con501idated gTOUP
2024
2023
Bank loan (secured- see note 18)
1.033,128
1.096,154
18. Analysis of secured debts- company and consoldated group
The bank loan is wholly repayable in instalments a5 follows:
2024
2023
In less than one year
In more than one year but le55 than five year5
In more than five years
72.473
674,527
358,601
77.995
695,156
4ChJ,998
1.105.601
1,174,149
Details of the bank loan are disclosed in note 12.
26

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THEACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
19. Fixed asset investments
2024
2023
Investments in subsidiaries
The group or the companfs investments atthe balance Sheet date in the share capital of companies
include the following:
Subsidiaries
Homefield School Enterprises Ltd
Registered office: Homefield School. Western Road. Sutton, Surrey, SMI 2TE
Nature of business: Dormant company
Class of shares..
°A holding-
Ordinary
100,c
Homefield School Enterprises Ltd is a whollyowned subsidiary of Homefield Preparatory School Trust
Limited, which was incorporated on 30 April 2013. It has remained dormant to 31 August 2024.
20. Commitments under operatln8 leases
At 31 August 2024 the company had total commitments under non-cancellable operat]n8 leases which
are payable as follows-
2024
2023
Within one year
Between one and five years
15,197
18.595
33.792
29,019
46,647
75,666
Operating lease expenses incurred during the year are as follows:
Motor expenses
£28,143
Printing and stationary
£2,906
21. Penslon commitments
The School participates inthe Teachers, Pension Scheme I'the TPS"}for its teaching staff. The pension
charge for the year includes contributions payable to the TPS of £350. 11812023: £301.0961 and at the
year-end £42.82312023 - £Nill was accrued in respeci of contributions to thi5 scheme.
The TPS is an unfunded multi-employer defined beneffts pension scheme governed by The Teachers,
Penslons Regulations 2010 las amended) and The Teachers. Pension Scheme Regulations 2014 las
amendedl. Members contribute on a.pay as you go" basis with contributions from members and the
employer being credited to the Exchequer. Retirement and other pension benefits are paid by public
funds provided by Parliament.
27

HOMEFIELD PREPARATORY SCHOOL TRusf LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
21. Pension commitments Irontinued)
The employer contrlbutlon rate is set by the Secretary of State following scheme valuations
undertaken by the Government Artuarrfs Department. The most recent actuarial valuation of theTPS
was prepared as at 31 March 2020 and the Valuation Report was published in October 2023.
Followingthe Mccloud judgemenL the remedy proposed that when benefits become payable, eligible
members can selectto receive them from eitherthe refonned or legacy schemesforthe period l April
2015 to 31 March 2022. The actuaries have assumed that member5 are likely to choose the option
that provides them with the greater benefits. and in preparing the 2020 valuation has valued the
'greater value, benefits for groups of relevant members.
The employer contribution rate forthe TPS is 28.6%, and employer5 are a150 required to pay a scheme
administration le￿ of 0.08% glving a total employer contribution rate of 28.68%.
The charitable company withdrew from the Trs in September 2024, with all teaching staff (except
TA'S) joining the new scheme.
The school also makes contributions to a defined contribution scheme for non-teaching staff. The
assets of these are held separately to those of the school in independently administered funds.
Contributlons payable during the year were £62,411 (2023: £60.061) and at the year-end £3,814
12023.. £Nil) was accrued in respect of contributions due to the scheme.
22. Censolidated analysis of net assets between funds
Unrestrkted
funds
Restrirted
funds
Total
Fund balances at 31 Au8USt 2024 are represented by:
Tangible fixed assets
Current assets
Creditors: amounts falling due within one year
Creditors: amounts falling due after one year
9,821.541
1,818,287
(949,4721
(1,033,128)
9.821.543
1,821,733
(949,472)
{1.033,128J
9.660,674
3,446
9.657.228
3.446
Unrestricted
Funds
Restricted
funds
Total
Comparative Fund balances at 31 August 2023 are
represented by:
Tan8ible fixed assets
Current assets
Creditors: amounts fralling due within one year
Creditors: amounts falling due after one year
10.080,780
1,788A76
(901.700}
11,096,154)
10,080,780
1.792.322
{901,700)
{1.0%,154)
9.875,248
3.446
9,871,802
3,446
28

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST2024
23. Restrirted fvnds
Balance as at
1 September
2013
Transfers to
unrestricted
reseNes
Balance as at 31
August 2024
Incoffle
Expenditure
Green tiavel
EYPS award
1,217
2,229
1.217
2,229
3.446
4,980
4,980
(4,980)
(4,9801
3,446
During the year, the Charities Aid Foundation made a donation of £4,956 to the school.
Afurther donation of£24was made during the year by a private individual.
All donations received in the year were fully spent at the year-end.
24. Share capital and control
The company is limited by guarantee and does not have a share capital. In the event of a windin8 UPI
each member guar3ntees to contribute an amount of no more than £1.
25. Governorf indemnlty Insurance
As part of its overall insurance policy, the charitable company purchased Governors, liability insurance
providing cover up to £2,000.000 in respect of claims arising from negligence. error or omi55ion
committed in good faith.
26. Related party transactlons
No Governors had children who attended the School during the current year12023: None).
During the year the school paid third parties £721 for training of the Governors12023- £Nil).
Two member5 of key management personnel had children who attended the school during the year
{2023.' two). Fees payable and any discountswere charged and awarded on the Same basis as for other
parents and staff.
29