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← Homefield Preparatory School Trust Limited

2025-08-31-accounts

Charity Registration No. 312753 Company Registration No. 00887719 (England and Wales)

GOVERNORS’ REPORT (INCORPORATING THE STRATEGIC REPORT) AND FINANCIAL STATEMENTS FOR HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED (LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31 AUGUST 2025

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION

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Governors M Gardiner Boiling{Chair}
CAkojie
U Ganesan
G Gillan
V Hayward
J Loveland
E Rix
Dr H Wilcox
Key Management Personnel:
Head Mrs GAnderson
AssistantHead LowerSchool Miss O Nanasi
Assistant Head Pastoral Mr E Smith
AssistantHeadAcademic Miss CSmith
Secretary, Bursar MrC King
Charity Number 312753
Company Number 00887719
Registered office& principal address Homefield School
Western Road
Sutton
Surrey
SM1 2TE
Auditors TCGroup
The Courtyard
Shoreham Road
UpperBeeding
West Sussex
BN44 3TN
Bankers Lloyds Bank PLC
49/53 High Street
Surrey
SM110T

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED CONTENTS

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|||||||| |---|---|---|---|---|---|---| |Page| |Governors’|Report|(incorporating|the|Strategic|Report)|1-10| |Statement of Governors’|Responsibilities|11| |Independent Auditor’s|Report|12-15| |Statement|of|Financial|Activities|16| |Balance|Sheet|17| |Cash|Flow Statement|18| |Notes to the|Accounts|19-30|

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED GOVERNORS’ REPORT eee

The Governors are pleased to present their report and financial statements for the year ended 31 AugustStrategic 2025,Report. which also comply with the Companies Act 2006 requirementfor a Directors’ Report and

The financial statements have been prepared in accordance with the Companies Act 2006, Charities Act 2011 and Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Homefield Preparatory School Trust Limited (‘the School’) was incorporated in 1966 and operates as Homefield Preparatory School. The School is a company limited by guarantee (company number 00887719), registered with the Charity Commission (charity number 312753) and is governed by its Articles of Association, last amended on 27th July 2021.

The school had a dormant subsidiary company, Homefield Schoo! Enterprises Limited, which was wound up during the year 24/25.

Recruitment, Induction and Training

Governors of the School are elected on the basis of nominations received by the Chair of Governors, to the Board’s specifications concerning eligibility, personal competence, specialist skills and availability. Governors are elected at any meeting of the Board, subject to confirmation of their eligibility to act as a Director and Trustee and serve an initial term of office of four years.

New Governors are inducted into the workings of the Charity and the School. They are given copies of various documents including the AGBIS “Guidelines for Governors” manual, the Articles ofAssociation, the latest audited accounts and the most recent Schoo! ISI inspection report. As part of their induction, they visit the school and are given orientation briefings by the Chair of Governors and/or other Governors, the Head and the Bursar and receive Safeguarding training.

New Governors complete mandatory “New Governor” training provided by AGBIS. All Governors are required to attend external training, courses and conferences designed to keep them informed and updated on current issues and regulations concerning education and governance,

Governors, Directors and Charity Trustees

The Governors of Homefield Preparatory School Trust Limited (“the School”, “the Charity”, “the Company” or “Homefield”) are the School’s charity trustees under charity law and the directors of the charitable company. The members of the Governing Body who served in office as Governors during the year and subsequently are detailed below:

Ms M Gardiner Boiling MA (Cantab), Graduate LLB (Hons), DipABRSM Mr S Everest OBE resigned 1st July 2025 Mr C Akojie, BSc ACA Dr G Bamford, BSc (Hons), PhD, CPsychol, FPsychol, PGCE resigned 18th March 2025 Mrs J Crooke, BSc (Hons), ACMA resigned 18th March 2025 Mrs U Ganesan, BComm, MBA, CPA appointed 1st July 2025 Mrs G L Gillan, LLB (Hons), MA Child Studies Miss V Hayward, BA appointed 4th February 2025 MrJ C Loveland, BA (Hons), ACA

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED CONTENTS

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Mrs E Rix, BA (Hons), PGCE

Dr H Wilcox, MA, MSc, LLM, MBA, MRCP, FRCPath

Registered Office Homefield Preparatory School, Western Road, Sutton, Surrey SM1 2TE

Organisational Management

The members of the Governing Body, as the Charity’s trustees, are legally responsible for the overall management and control of the School. Meetings of the full Governing Body are held at least once a term.

The day-to-day running of the School is delegated to the Head and Bursar, supported by other members of the Senior Management Team, who together are the key personnel. The Head and Bursar attend all meetings of the full Governing Body and committee meetings.

The Governors give of their time freely and the pay and remuneration of the Head and Bursar is set by the Governors and is kept under annual review. A number of criteria are used in setting pay:

In recent years, flexible pay across both state and private sector has affected the ease of recruitment to certain roles. We offer appropriate incentives to encourage enhanced performance in a fair and responsible manner but remain sensitive to the broader issues of pay and employment conditions elsewhere. We aim to recruit the best qualified and experienced staff and provide scope to reward them for excellence. The Governors have, however, given delegated authority to the Head to pay higher salaries for exceptional candidates where this is in the interest of the School.

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |The|Key|Management|Personnel| |Head:|Mrs G Anderson,|BA (Hons),|PGDip|Ed|appointed 22nd|April 2025| |Interim|Head:|MrC|Hammond,|BA|(Hons),|PGCE,| |Bursar:|Mr C|King,|BMus|(Hons),|MBA,|MCGI, LRSM| |Deputy Head:|Mrs|L Crook,|BEd, MA|resigned|7th January 2025| |Asst.|Head|Academic:|Miss S Smith,|BSc (Hons),|MA|Ed,|PGCE|appointed|1st April|2025| |Asst.|Head|Pastoral:|Mr|E|Smith,|BA|(Hons)| |Asst.|Head|Lower|Schoo!:|Mrs|E|Field,|BA (Hons)|resigned|31st August 2025| |Asst.|Head|Lower School:|Miss O|Nanasi,|BA (Hons),|PGCE|appointed|1st September 2025|

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Bankers: Lloyds Bank ple, 49 High Street, Sutton, Surrey SM1 1DX Auditors: TC Group, The Courtyard, Shoreham Road, Steyning, West Sussex, BN44 3TN Solicitors: Moore Barlow, The Oriel, Sydenham Road, Guildford, GU1 35R Insurance brokers: Hayes Parsons, 1st Floor, One The Square, Temple Quay, Bristol BS1 6DG

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED GOVERNORS’ REPORT eee Employment policy

The School is an equal opportunities employer.

Relationships

The Schoo! is a member of the IAPS, AGBIS, and ISBA for the promotion, maintenance and delivery of excellence in education to the age of 13. The School actively contributes to the local community in a number of different ways, as detailed below under Public Benefit.

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

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,

Strategic aim and intended effect

At Homefield, we aim to provide a safe and happy environment, with a real depth of specialist teaching, to enable academic success. We invest in an ambitious curriculum for all our pupils. This goes beyond English, Maths and the sciences. Quality and vitality inform the humanities, the arts and sport. This breadth and depth ensures a wider fulfilment of our boys’ individual potential, in ‘hand, head and heart’.

We seek to develop deeper study skills and aptitudes toward learning, 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 cosmopolitan 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 21st where well-being and civic virtue are key to our school’s character and success.

Objectives

The Board’s main objective continues to be to educate all the School’s pupils to 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 practice, exemplified by a strong teacher-to-pupil ratio and by seeking to meet the individual needs of all pupils.

Activities

The Charity’s principal activity continues to be the provision of a preparatory day school education to pupils ranging from 3 to 13 years of age. As of September 2026 however, Homefield will be an 11+ school, educating pupils to 11 years of age.

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED GOVERNORS’ REPORT a

Public Benefit In setting objectives and planning activities the Governors have given careful consideration to the Charity Commission’s general guidance on charitable purpose and public benefit, and in particular to its supplementary guidance on the advancement of education. Homefield Preparatory School Trust Limited is a charitable trust which seeks to benefit the public through the pursuit of its objects, aims and objectives. Fees are set at a level to ensure the financial viability of the School and at a level that is consistent with the achievement of its aims and objectives. The School's charitable objects are “to provide education”, such objects are recognised as benefitting the public when pursued in the context of formal education in a body where all surplus funds are re-invested. The School is a charitable body with no external shareholders and no possibility of making distributions whether in the form of dividends or otherwise. All surpluses are re-invested in education.

The awarding of bursaries for those who could not otherwise afford independent education is a measurable means of providing public benefit. The Governing Body takes the view that bursaries 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 receive financial support contribute to the School community in a variety of ways, and so the benefit is not purely to those pupils but to the whole School. The total for bursaries and discounts in the year to 31 August 2025 were £49,538 (2024: £52,285).

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 evenings and weekends when not in use by the pupils at the school and in keeping with planning restrictions imposed by the local authority. We facilitate local charities’ use of our minibuses for holiday clubs and day trips.

ACHIEVEMENTS AND PERFORMANCE

The Board is pleased to report the achievement of its pupils in attaining their highest potential as measured by value added criteria; examination results and their successful graduation to their preferred senior school.

2024-2025 was another very successful year with 24 grammar school places awarded to Year 6 boys (cohort of 46), including 26% receiving offers from Wilson’s, which is one of the top ranking grammar schools. An exceptionally high number of offers given by the top independent schools, including 14 places at Trinity, 11 at Whitgift, and 11 at Caterham. The Year 8 boys moved onto independent senior schools including St Paul’s, King’s College Wimbledon, and Westminster.

The CATS (the Cognitive Abilities Test) diagnostic assessment is designed to help boys and teachers understand how they learn and what their academic potential might be. The results for 2025 are below:

Year 6 (10-11 yrs) 100% at or above the national average 46 pupils 85% highly above the national average 52% exceptionally above the national average Year 8 (12-13 yrs) 84% at or above the national average 19 pupils 63% highly above the national average 28% exceptionally above the national average

Year 8 pupils had excellent results at Common Entrance with 100% grade A-C in English, 95% grade A-C in English, Maths and Science combined, and 74 achieved A-A in Maths. In all, 26 scholarships were awarded by highly respected senior schools, with 17 of these being academic scholarships.

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED GOVERNORS’ REPORT

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English

The English Department are proud to offer a rich range of opportunities that help our pupils grow as confident, thoughtful communicators. Last year, our Year 5 boys took part in the Debating Competition hosted by Epsom College; a fantastic chance to develop public speaking, teamwork, and critical thinking. Our Year 6 boys aiso impressed the school community by delivering a powerful assembly speech on women’s rights, written entirely by them. Year 4 enjoyed an inspiring visit to the Globe Theatre to launch their Shakespeare unit, bringing literature to life in an authentic setting. Our Year 3 pupils delighted parents with expressive performances of Christmas poems, showcasing their developing fluency and creativity.

We were also thrilled to welcome guest author Margaret Bateson, who worked with Years 5-8, sparking imagination and offering valuable insight into the writing process.

Maths

Homefield boys continue to inspire with achievement in mathematics. In the spring term, our Year 5 boys were crowned Wizarding Champions at the Hampton School Maths Wizard Challenge, proudly bringing home Gold status. Two of our talented Year 6 pupils qualified for the prestigious UKMT Junior Olympiad in May - a fantastic achievement that showcases their problem-solving brilliance.

Homefield earned the highest number of Gold and Silver certificates ever in the Primary, Junior, and intermediate Mathematical Challenges. Our Year 6 boys shone in the Maths Quiz Club, competing in the national finals at Oxford University in July.

Music and Drama

Music and Drama have remained central to our commitment to nurturing creativity, confidence, and a love for the performing arts. Specialised teaching in music begins from Nursery, with Nursery and Reception boys enjoying three weekly sessions and Years 1 to 8 participating in two lessons per week. Around 70% of boys take private instrument lessons this year. Drama is introduced from Year 1, with weekly lessons continuing into the Upper School, led by our Head of English and Drama.

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 Christmas Show are key highlights, alongside ensemble performances at Prize Giving. Whole-year group singing remains a distinctive feature, culminating in school-wide performances at assemblies and two major concerts each year.

In 2025, our boys’ talents have been recognised with five music and drama scholarships to leading schools, including Trinity School.

Science and STEAM

Science at Homefield has been a key focus. Specialist teaching begins in Year 3 with Years 3 to 5 receiving three lessons of science each week, Year 6 enjoy four, and Years 7 and 8 benefit from five lessons weekly. Our state-of-the-art laboratories, equipped to secondary school standards, have enabled boys to undertake advanced experimental work and our generous lesson allocations allow sufficient time for detailed analysis.

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED GOVERNORS’ REPORT

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Exciting opportunities this year to enhance the science curriculum included a Year 6 trip to London Zoo, where boys studied animal adaptations and conservation, and a Year 7 ecology fieldwork trip where boys could investigate biodiversity. Workshops, such as Falconry, enriched the boys’ experience as they could see how animals are adapted to particular environments. Lower school had the opportunity to complement their work on life cycles as they hatched eggs.

Our commitment to excellence was reflected in the success of our National Science Quiz Club teams, with Year 5 and Year 6 boys once again reaching the national finals and achieving 3rd place nationally.

STEAM has been at the forefront of our efforts to prepare boys for a rapidly changing world. Through a dedicated 40-minute weekly lesson, projects like building rocket-powered vehicles have fostered hands-on learning, collaboration, and innovative problem-solving. Whole school STEAM days have allowed project based, hands-on learning, allowing boys to make, evaluate and refine their project. Coding has been a particular focus, with younger boys introduced to Marty the Robot and Lego codable software, laying the groundwork for future technological fluency. Application to real life situations is important, and the trip to the London Transport Museum where Year 3 boys participated in a coding the capital workshop, provided opportunities for the boys to interview engineers and consider how technology has changed over time. We've also strengthened partnerships with engineering initiatives. Boys in Year 2 and Year 6 participated in a programme with Primary Engineer and Network Rail, working alongside 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, while interviewing real engineers. One entry being selected as a winning entry with a number being highly commended in terms of their innovative ideas.

Sport

At Homefield, we continue to believe that sports education extends far beyond the pursuit of[trophies.] Our “sports for all’, value-added philosophy remains at the heart of our provision, focusing on the holistic development of every boy. This year, our comprehensive fitness programme has continued to flourish, offering tailored pathways for all abilities and encouraging boys to set personal targets and monitor their progress. This initiative has not only strengthened overall physical fitness but has also played a significant role in promoting confidence, resilience, and positive mental health.

Inclusivity remains central to our work. The breadth of our sporting offer ensures that every pupil can find a discipline that inspires them. From core team sports such as football, rugby, hockey, and cricket, to individual pursuits including swimming for every year group (yr1-8) tennis, gymnastics, dance, and athletics, we strive to provide meaningful opportunities for participation, skill development, and enjoyment.

Across Years 3 to 8, the boys represented the school in over 120 competitive fixtures spanning football, rugby, hockey, and cricket. The cross-country team performed admirably at the Regional Cross Country Competition held at Epsom College, and our swimmers took part in two gala events at Sutton High School. We also successfully hosted two full-school sports days, which were well attended and showcased the positive atmosphere and community spirit within the school.

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED GOVERNORS’ REPORT

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Lower school

The governors are delighted that the Nursery reopened in September 2024, with a good intake of boys. There is a focus on holistic development of the whole child, with the curriculum encompassing cognitive, social, emotional, and physical development.

We believe that play is the cornerstone of early childhood education. Our curriculum emphasises hands-on, experiential learning through play-based activities that stimulate curiosity, creativity, and critical thinking skills. In addition to play-based learning, lower school pupils, including the Nursery, receive specialist teaching in music, art, drama, languages and PE.

ISI Inspection

The School was visited by the independent Schools Inspectorate for a planned Progress Monitoring Inspection in March 2025, and the School was delighted that all of the regulatory standards that were checked were met. They noted that safeguarding leaders are well trained for their roles, and that Governors actively promote the wellbeing and safety of pupils at the school.

FINANCIAL REVIEW

Results for the year

The Charity’s net incoming resources were £80,346 (2024: net outgoing resources £214,574).

Reserves level and policy

The Board has established a general reserve policy to afford some protection to the School and its charitable 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 policy for the 25/26 accounts.

PRINCIPAL RISKS AND UNCERTAINTIES

The Governors have an established procedure to review key risks on an ongoing 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 financially prudent. Even during this tricky economic climate, we have continued to invest further in the School, and we will continue to improve and enhance the School's facilities as our finances allow. Homefield has a strategic plan in place to grow in numbers, however, we never lose sight of the fact that within our resources, we must provide the best possible education and learning environment for our pupils.

The Government's short-notice introduction of VAT on school fees has had a significant impact on all independent schools throughout the country, including Homefield. Allied with the removal of mandatory business rate relief, the increase in employers’ National Insurance and the increase in the National Living Wage, this has required the Governing Body and leadership to consider the staffing structure of the schoo! closely, to give a balanced budget and a quality, affordable service for parents.

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:

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED GOVERNORS’ REPORT

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FUTURE PLANS

The recruitment and retention of pupils is of paramount importance, given the economic climate in the UK. There is an increased focus on effective Marketing and Admissions, embracing the use of social media to reach potential Homefield families.

The School reopened its Nursery in September 2024 and has had two successful intakes of pupils, the first already graduating into the Reception classes. There remains an appetite for nursery places in the surrounding area, and the Governors are considering how Homefield is best placed to assist.

Following the excellent interim leadership of Mr Hammond, the Governors are delighted that Mrs Anderson took up the permanent Headship of the school in April 2025, which has already proven to be a great success.

Given the rapid pace of change in the independent education sector during 2024 and 2025, the Governors are actively considering the future structure of Homefield, against of backdrop of school group consolidation.

The Board continues to plan for the future through a programme of development and investment to:

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED GOVERNORS’ REPORT

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STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors (who are also the directors of Homefield Preparatory School Trust Limited for the purposes of company law) are responsible for preparing the Governors’ Annual Report (incorporating the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard in the UK and Republic of Ireland’.

Company law requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and ofthe incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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

The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

DISCLOURE OF INFORMATION TO AUDITORS

Each of the Governors has confirmed that there is no information of which they are aware that is relevant to the audit, but of which the auditor is 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 information.

This report, including the strategic report, was approved by the Governors, as Directors of the charitable company, on Q9 Dec 2025 and signed on their behalf by:

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Ms M Gardiner ep
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Chair of Governors

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

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We have audited the financial statements of Homefield Preparatory School Trust Limited (the ‘charitable company’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow Statement and notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis of opinion

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

Conclusions relating to going concern In auditing the financial statements, we have concluded that the governor’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the governors with respect to going concern are described in the relevant sections of this report.

Other information

The governors 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 financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

eee In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. if we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the governors’ report.

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

Responsibilities of the governors

As explained more fully in the governors’ responsibilities 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 necessaryto enable the preparation offinancial statements that are free from material misstatement, whether due to fraud orerror.

In preparing the financial statements, the governors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so.

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

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Auditor's responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial 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 misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financia! statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an 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 the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Senior Statutory Auditor

for and on behalf of TC Group Statutory Auditors Office: Steyning, West Sussex

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted Restricted TotalFunds Total Funds
Funds Funds 2025 2024
Notes £ £ £ £
INCOME FROM:
Donations 5 1,023 - 1,023 4,980
Other trading activities 6 54 54 107
Investments 7 9,186 - 9,186 21,145
Charitable activities 8 4,347,181 - 4,347,181 4,401,954
Other income 9 61,900 - 61,900 27,722
Total income 4,419,344 - 4,419,344 4,455,908
EXPENDITURE ON:
Raisingfunds 840 - 840 1,423
Charitable activities 4,335,929 2,229 4,338,158 4,669,059
Total expenditure 10 4,336,769 2,229 4,338,998 4,670,482
Netincome/(expenditure) andnet
movement in funds		 82,575 (2,229) 80,346 (214,574)
Fund balances broughtforward 9,657,230 3,446 9,660,676 9,875,250
Fundbalancescarriedforward 21 9,739,805 1,217 9,741,022 9,660,676

All income and gains for the year are recognised above. All the school’s activities are classified as continuing.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

There are no recognised gains or losses other than those reported on the Statement of Financial Activities.

The notes on pages 19 to 30 form part of these financial statements

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HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED BALANCE SHEET

AS AT 31 AUGUST 2025

Notes 2025 2024
Fixed assets 7 £ £ ;
Tangible assets 12 9,632,119 9,821,541
Investments 18 - 2
9,632,119 9,821,543
Current assets
Debtors and prepayments 14 234,568 70,380
Currentasset investments 13 500,000 500,000
Cash at bankand in hand 924,733 1,251,353
1,659,301 1,821,733
Creditors:amountsfallingduewithin
oneyear		 15 (594,819) (949,472)
Net currentassets 1,064,482 872,261
Creditors:amountsfallingdueafter
morethanoneyear		 16 (955,579) (1,033,128)
Net assets 9,741,022 9,660,676
Represented by:
Restrictedfunds 22 1,217 3,446
Unrestricted funds:
Generalschoolfunds 21 9,739,805 9,657,230
9,741,022 9,660,676

Company Number: 00887719

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The accounts were approved by the Board of Governors and signed on their behalf by:

Ms M Gardiner Boiling Governor

Date: 09 Dec 2025

The notes on pages 19 to 30 form part of these financial statements.

17

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

os

2025 2024
Notes £ £ £ £
Cash flowsfrom operating activities:
Netincome/(expenditure) fortheyear 80,346 (214,574)
Adjustments for:
Depreciationcharges 12 318,720 337,450
Interest receivable 7 (9,186) (21,145)
Interest payable 30,047 31,398
(Increase)/decrease in debtors 14 (164,188) 3,092
Increase/(decrease) in creditors 15 (359,729) 47,772
Netcashprovidedby/(used in)operating
activities		 (103,990) 183,993
Cash flowsfrom investing activities:
Interest receivable 7 9,186 21,145
Interest payable (30,047) (31,398)
Purchases oftangible fixed assets 12 (129,298) (72,689)
(Purchase)/Disposal ofcurrent asset investments 13 2 (200,000)
Net cash provided by/(used in) investing activities (150,157) (282,942)
Cash flowsfrom financing activities:
Loan repayments 17 (72,473) (68,548)
Net cash provided by/(used in) financing activities (72,473) (68,548)
Change in cash andcash equivalentsinyear (326,620) (167,497)
Cashand cash equivalentsatthebeginningofthe 1,251,353 1,418,850
year
Cash and cash equivalents attheend oftheyear 924,733 1,251,353
Analysis ofchanges in netdebt
Broughtforward Cash flows Carriedforward
£ £ £
Cash at bank and in hand 1,251,353 (326,620) 924,733
Currentasset investments 500,000 - 500,000
Bank loans (1,105,601) 72,473 (1,033,128)
645,752 (254,147) 391,605

18

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

Se

  1. Statutory information Homefield Preparatory School Trust Limited is a private charitable company, limited by guarantee, incorporated in England and Wales. The charitable company’s registered number and registered office address can be found on the legal and administrative information page.

  2. Accounting policies

2.1 Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102} (effective 1 January 2019) — Charities SORP (FRS102), 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. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are prepared in Sterling and rounded to the nearest £1.

After reviewing the charitable 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 financial statements.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In the opinion of the Governors, no assumptions concerning the future or estimation certainty affecting assets and liabilities at the balance sheet date are likely to result in material adjustment to their carrying amounts in the next financial year.

2.2 Income Fees receivable and charges for services, less any allowances, scholarships and bursaries granted by the school against those fees are accounted for in the period in which the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probably that income will be received.

School fees are accounted for on a receivable basis. Fees for a future service period are included in deferred income, including those fees received under an advance fee payment scheme.

Realised and unrealised gains and losses on investments are reflected through the Statement of Financia} Activities.

Investment income is accounted for on an accruals basis.

19

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025

eee

  1. Accounting policies (continued) Donations, legacies, grants and other voluntary income are accounted for as and when entitlement arises, the amount can be reliably measured, and the economic benefit is considered probable. Where a donor or an appeal has imposed restrictions, the income is credited to a restricted fund.

2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third 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 directly 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 charitable 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 charity and include the audit fees and costs linked to the strategic management of the charity.

All costs are allocated between expenditure categories and departments on a basis designed to reflect the use ofthe[resource.][Costs][relating][ to][a][particular][activity][ are][allocated][directly.]

2.4 Tangible fixed assets and depreciation Tangible 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 asset over its expected useful life as follows:

School buildings 2-20% straight line (from the date brought into use) Furniture & equipment 25% straight line Motor vehicles 20% straight line Computer equipment 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.

2.5 Investments Investments in subsidiaries are recognised at cost on the balance sheet. Other fixed asset investments are stated at fair value. Realised and unrealised gains and losses are dealt with in the Statement of Financial Activities.

20

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025

eee 2. Accounting policies (continued)

2.6 Operating lease commitments 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 Activities over the period of the lease.

2.7 Pensions The charitable 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 discretion of the Board. Both schemes are regulated by the Pensions regulator. All costs are charged to the Statement of Financial Activities in the period in which they are incurred.

2.8 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 Activities over the period of the lease.

2.9 Employee benefits The cost of any unused holiday entitlement is 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 committed to terminate the employment of an employee or to provide termination benefits.

2.10 Cash at bank and in hand Cash at bank and in hand includes 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 deposits where possible to maximise the return on monies held at the bank and to manage cash flow.

2.11 Debtors Fees and extras receivable and accrued income are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

2.12 Creditors and provisions Creditors and provisions are recognised where the charitable com pany 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 their settlement amount.

2.13 Loans and borrowings Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

a1

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

ee

2. Accounting policies (continued)

2.14 Financial instruments The charitable company only has financial assets and liabilities of a kind that qualify as basic financial instruments which are initially recognised at transaction value and subsequently measured at their settlement value.

2.15 Fund accounting

Unrestricted funds comprise those funds which can be used in accordance with the charitable objects at the discretion of the governors.

Restricted funds are those funds that can only be used for particular restricted purposes in accordance with the wishes of the donor or when funds are raised for particular restricted purposes.

2.16 Critical accounting estimates and judgements

In the application of the charitable company’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. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The Governors do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.

3. 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:

2025 2024
£ £
Operatinglease payments 18,164 31,049
Depreciation 318,720 337,450
Auditors'remuneration-auditservices(seenote10) 12,000 14,474

4, Taxation

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.

22

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

SSees

5. Income from donations and legacies

Unrestricted Restricted Total 2025 Total 2024
£ £ £ £
Donations 1,023 : 1,023 4,980
6. Income from othertrading activities
Unrestricted Restricted Total 2025 Total2024
£ £ £ £
Schoolshop $4 - 54 107
7. Incomefrom investments
Unrestricted Restricted Total 2025 Total 2024
£ £ £ £
Interest receivable 9,186 - 9,186 21,145
8. Income from charitable activities
2025 2024
£ £
Gross school fees 4,254,545 4,374,257
Less discounts (49,538) (52,285)
Net school fees 4,205,007 4,321,972
Registration& assessment fees 7,597 9,450
School bus service and minibus hire 55,347 70,357
Lunches 75,980 -
Other income 3,250 175
4,347,181 4,401,954
9. Other income
Unrestricted Restricted Total 2025 Total 2024
£ £ £ £
Hall facilities/hiring revenue 42,125 - 42,125 24,296
Sundry income 19,775 - 19,775 3,426
61,900 - 61,900 27,722

23

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

re

10.
Analysis ofexpenditure
_ School = Governance
operating costs
costs		 yy44312025 Total2024
£ £ £ £
Costs of raising funds
School uniform shop 840 - 840 1,423
Total costsofraisingfunds 840 - 840 1,423
Charitable activities
Administration and general 611,655 34,282 645,937 667,963
Educational
Establishment
Housekeeping
Depreciation
Total charitable expenditure		 2,420,589
534,351
398,424
318,720
4,283,739		 15,388
4,224
525
-
54,419		 2,435,977
538,575
398,949
318,720
4,338,158		 2,861,416
433,094
369,136
337,450
4,669,059
Total expenditure 4,284,579 54,419 © 4,338,998 4,670,482
Analysis ofgovernancecosts: 2025
£		 2024
£
Governance costs:
Auditors remuneration for audit services 12,000 14,474
Accountancyandpayrollcosts 22,281 11,769
Governors’ expenses
Othergovernance costs		 31
20,107		 652
19,229
Total governance costs 54,419 46,124
11.
Staffcosts
The aggregate payroll costs forthe yearwere as follows: 2025 2024
£ £
Wagesand salaries
Social securitycosts		 2,162,676
261,081		 2,429,045
240,477
Pension costs 416,736 412,529
2,840,493 3,082,051

The average monthly number of employees during the year was:

2025 2024
Number Number
Teaching 42 46
Estates 8 9
Administration 7 8
57 63

24

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

eee

11. Staff costs (continued)

None of the governors received any remuneration or other benefits from the school or any connected body (2024: none).

One Governor (2024: Four) received reimbursed expenses in the year of £31 (2024: £652) for[travelling] expenses and DBS checks during the year.

Included within staff costs are redundancy and ex-gratia payments of £24,813 (2024: £141,584).

Staff with emoluments in excess of £60,000 per annum in the following bands are:

==> picture [386 x 75] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |Number|Number| |£60,000|- £69,999|1|1| |£70,000|-|£79,999|1|1| |£80,000|- £89,999|1|-| |£120,000|-|£129,999| |.|1|

----- End of picture text -----

Of the employees whose emoluments exceed £60,000, none (2024: none) has benefits accruing under a defined benefit scheme outside of the Teachers’ Pension Scheme. The entity was enrolled in the Teachers’ Pension Scheme until September 2024 and total amounts payable have been disclosed within note 20.

The key management personnel of the school are detailed in the Governors’ Report and Legal and Administrative information. In 2024: 7 staff (2024: 7 staff).

==> picture [386 x 47] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2025|2024| |£|£| |Aggregate|employee|benefits of key management|personnel|540,515|696,689| |(Including employer national|insurance|and|pension|contributions)|

----- End of picture text -----

25

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

a

==> picture [394 x 226] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |12.|Tangible|fixed|assets| |Freehold|Land|Furniture|&|Motor|Computer| |and|Buildingson|Equipment,|vehicles;|equipment;|Total| |Cost|£|£|£|£|£| |At|1 September 2024|11,625,816|697,137|19,554|624,388|12,966,895| |Additions|a28,372|3,435|50,104|47,387|129,298| |At 31 August 2025|11,654,188|700,572|69,658|671,775|13,096,193| |_-ee| |Depreciation| |At|1 September 2024|1,928,714|633,374|19,554|563,712|3,145,354| |Charge|for the year|231,573|39,255|6,680|41,212|318,720| |rt| |At 31 August 2025|2,160,287|672,629|26,234|604,924|3,464,074| |ESSea| |Net|book|value| |At 31 August 2025|9,493,901|27,943|43,424|66,851|9,632,119| |a| |At|31 August 2024|9,697,102|63,763|-|60,676|9,821,541| |a|PE|

----- End of picture text -----

included within freehold land and buildings is £66,000 of land that is not depreciated.

Aloan facility was granted on 3 August 2020 and is secured by a fixed charge over the school’s freehold land and buildings. The carrying value of the assets charges was £9,493,901 at the balance sheet date. The loan facility was made available in an aggregate amount of £2,500,000. Two further tranches of £625,000 each (at 2.70% fixed for 5 years and 2.76% fixed for 10 years) and an additional tranche of £1,250,000 (at 2.77% fixed for 15 years) were drawn down in August 2022. Interest reverts toa floating rate after the fixed interest rate periods. All amounts are repayable within 15 years from 1 August 2022. The £1,250,000 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 financial statements. However, without the benefit of a professional valuation the Board is 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 schoo! to warrant the expense.

  1. Current asset investments

==> picture [387 x 36] intentionally omitted <==

----- Start of picture text -----
||||| |---|---|---|---| |2025|2024| |£|£| |Long term|deposits|500,000|500,000|

----- End of picture text -----

26

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

eee

14.
Debtors
2025 2024
£ £
Fee debtors
Prepayments and accrued income		 10,589
148,747		 4,533
64,468
Otherdebtors 75,232 1,379
234,568 70,380
15.
Creditors: amounts fallingduewithin oneyear
2025 2024
£ £
Bank loan (secured—see note 17) 77,549 72,473
Trade creditors 85,773 116,624
Accrualsand deferred income 25,398 21,325
Othercreditors 8,910 45,642
Fees in advance 240,416 481,501
Deposits 156,773 170,657
Othertaxes and social security - 41,250
594,819 949,472
Fees in advance represent fees received forAutumn term 2025.
16.
Creditors: amounts failingdue afteroneyear
2025 2024
£ £
Bank loan (secured—see note 17) 955,579 1,033,128
17.
Analysis of secured debts
The bank loan iswholly repayable in instalments asfollows: 2025 2024
£ £
In less thanoneyear 77,549 72,473
In more thanone yearbut less than fiveyears 638,283 674,527
In morethan fiveyears 317,296 358,601
1,033,128 1,105,601

Details of the bank loan are disclosed in note 12.

27

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

eee

==> picture [114 x 9] intentionally omitted <==

----- Start of picture text -----
18. Fixed asset investments
----- End of picture text -----

Investments in subsidiaries

==> picture [82 x 32] intentionally omitted <==

----- Start of picture text -----
||| |---|---| |2025|2024| |£|£| |-|2|

----- End of picture text -----

The School's wholly owned subsidiary, Homefield School Enterprises Limited, was dissolved on 23 September 2025. The investment was impaired at the year end.

19. Commitments under operating leases

At 31 August 2025 the company had total commitments under non-cancellable operating leases which are payable as follows:

==> picture [386 x 103] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Within|£|f| |one|year|13,557|15,197| |Between|one|and|five years|5,038|18,595| |18,595|33,792| |Operating|lease|expenses|incurred|during|the|year are|as|follows:| |Motor|expenses|£13,298| |Printing and|stationary|£4,866|

----- End of picture text -----

20. Pension commitments

The School participated in the Teachers’ Pension Scheme (“the TPS”) for its teaching staff until September 2024 when it withdrew from the scheme. The pension charge for the year includes contributions payable to the TPS of £31,090 (2024: £350,118) and at the year-end £nil (2024 - £42,823) was accrued in respect of contributions to this scheme.

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

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

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

28

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025

ee ee EEE EEE

20. Pension commitments (continued)

The school makes contributions to a defined contribution scheme. The assets of these are held separately to those of the school in independently administered funds. Contributions payabie during the year were £385,646 (2024: £62,411) and at the year-end £nil (2024: £3,814) was accrued in respect of contributions due to the scheme.

21. Analysis of net assets between funds

Unrestricted
funds		 Unrestricted
funds		 Restricted
funds		 Total
9
£ £ £
Fund balances at31August2025are are represented by:
Tangiblefixed assets 9,632,119 - 9,632,119
Fixed asset investments - - -
Current assets 1,658,084 1,217 1,659,301
Creditors: amounts fallingdue due within oneyear (594,819) - (594,819)
Creditors: amounts fallingdue due afteroneyear (955,579) - _ (955,579)
9,739,805 1,217 9,741,022
Unrestricted
Funds		 Restricted
funds		 Total
£ £ £
Comparative Fund balances at31August2024are
represented by:
Tangible fixed assets 9,821,541 - 9,821,541
Fixed asset investments 2 - 2
Current assets 1,818,287 3,446 1,821,733
Creditors: amounts fallingdue within oneyear (949,472) - (949,472)
Creditors: amounts fallingdue afteroneyear (1,033,128) - {1,033,128)
9,657,230 3,446 9,660,676
22. Restricted funds
Balance as at
1September		 Wome Pipenaftore
p		 Transfersto
unrestricted		 Balanceasat31
August2025
2024 reserves
£ £ £ £ £
Green travel 1,217 - - - 1,217
EYPSaward 2,229 - (2,229) - -
3,446 - (2,229) - 1,217

29

HOMEFIELD PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

SSF

23. Share capital and control

The company is limited by guarantee and does not have a share capital. In the event of a winding up, each member guarantees to contribute an amount of no more than £1.

24, Governors’ indemnity 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 omission committed in good faith.

25. Related party transactions

No Governors had children who attended the school during the current year (2024: None).

During the year the school paid third parties £17 for training of the Governors (2024: £721).

One member of key management personnel had children who attended the school during the year (2024: two). Fees payable and any discounts were charged and awarded on the same basis as for other parents and staff.

30

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