REGISTEREO COMPANY NUMBER= 01270675 (England and Walesl REGISTERED CHARITY NUMBER.. 505630 REPORT OF THE TRUSTEÉS AND FINANaAL STATEMEpifs FOR THEYEIR ENDED 31ST AUGUST2025 FOR RKHMONDHOU5E SCHOOL Thomas Coombs Limited Sraiutory Auditor Chartered Aciounthnts 3365 The Pentagon Century Wav pe Park leeds West Yorkshire LS15 8ZB RICHMOND HOUSESCHOOL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGLIST 2025 Reference and Administrative Details Report of the TtWStees 3 to 11 Statement of Trustee5' Responsibilities 12 Report of ihe lThdependehtAuditors 13 lo 16 ststementof Flnanclal Actlvltles 17 Balance Sheet 18 Cash Flow Statement 19 Notes to the Cash Flow StatemÈnt 20 Notes to the Finanual Ststemer 21 to 32 RICHMOND HOUSESCHOOL REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST AUGUST 2025 TRUSTEES PJFOX Dr E Moran A WÈst G P Wood5 D Milner l J Townend H Handy H A Kotnp E Chuntharpur5at-P4)n C A Shield5 S Middleton REGISTEREO OFRCE 170 Oiley Road Leed5 L516 SLG REGISTERED COMPANY NUMBER 01270675 IEnEland Wales) REGISTEREO CHARrrY NUMBER 505630 AUDITORS Thomas Cc￿MbS ￿mrted Statutory Auditor CharteredAc£ountants 3355 The Pentagon Century Wav Thorpe Pwk Leeds West Yorkshire LS15 81B BANKER5 National Westmin51er Bank plc 8 Park Row Leeprnent and expre55ive art5. Se55ions are run by one of our >pecialist Nursery teachers. open to all children in the local cornmunity who are not pupils at Richmond House and charged at a 5ubsidised. affordable. rate. The School operate5 a bu15ary fund to a55i5t new applicants to Ihe School or an existing pupil Whe￿ a change in parenilguardi3n'5 circurnstances ha5 resulted in a difficulty rneeting tuition fee5. Th 5 fund is prirnarily used to broaden the actr55 to the School and use of this fund is reviewed by the Governor5 to ensure fund5 are used appropriately. Availability of bursarie5 is advertised on the School website Iwww.rhschool.orgl and through marketing awareness campaigns, promoting the lund on social media and outdoor communicalions. Such 5UPPQrt is available on a nee{15 ba515 application to the Bursar. BuT5arie5 to the value of £57,25412024..£63,3351 were made in 2024125. Tr3n5formational bursaries were in place for children frotn low income familie5 who would otherwise not have been able to afford independent education. Three of these are funded by the khod. and one 15 fully funded with equal contribution frorn the School 3nd the Independent A550ciation of Prep Schools_ The 5chool'5 tatal iontribution to UK GDP Idirert. indirert and .￿duced1 is estimated at £3.9ffl. of which £2.2m 15 Wlthin the Leeds local Huihority area In additio￿ to the 65 direct job5 thTough staff empk>yed in school, a further 7 job5 are sUPPQrted indirertly through Ioc31 supplv chains £l.Im of UK tax payment5 are 5UPPOrted by the School'5 activrtie5, Wlth a further £1.4rn of Savings for the UK tax paypr as a result of attendance by pupils who would otherwise take up a free state school place. Paee 4 RICHMOND HOUSE SCHOOL {REGISTERED NUMBER: 012706751 REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGLIST 2025 STRATEGIC REPORT Achievements and perfoiman Summary of key events 2024125 was a year of growth and resilience for Rithmond House School, marked by st2blÈ pupil nUm￿rs. a successful ISI InspÈrtion, and strong financial perfortnancp de5Plte significant external pressures. C05t control rernained a key priority, with significant cost incre3sEs following the removal of Charitable Rates Relief. National kn%iThg Wage increase5. and increases in N3tional In5ur?nce Contributions compounded by absorbing the majority of theVAT Irnp￿t in orderlo miniM￿e the arnounl passed on to parents. AchievemÈnt and perforTnance Richmond Ilouse Schaol iontinued to make excellent progre55 in delNering its Slrateyc Developrnent Plan for 2023-2028. The srhDoI retnains comrDitted to its w5ion of being the school of choice in Leeds for children aged 2 to 11. ottering'an education worth paying for. This ￿pOrt outlines the key developrneThts and achievements acros5 the 5tralegi£ pillarsof the EdLKation Developrnent Plan (Safeguarding, Pastoral Qre & Wellbeing, Teaching & Learning, Enrichment and Communityl. facilitated through the Business support Plan (Effective Use of Resources and Employer of Choiiel- Safe8uardin8. Pastoral Qre and Wellbeinz We provide a safe. secure, and inclusive eDvironrnent where all pupils are heard. All pupi15 will be equipped with the skills to develop resilience and deal with any challenges they may face. The School ha5 maintained it5 strong reputation for 5afeguardin6 and pastoral care. In FebruBry 2025, Richmond HDU5e received 3 highlv P051twe ISI inspection report. whith confirme(I that 5afeguardiD% and well)eing sy5tern5 are robust and cornprehensive, with no are35 01 recommendation. This followed an external Safeguarding audit in Novernber2024, whKh prai5eé the school'5 provision and p35tor41 team. Mental health has beiorne 4 central f(Kus of the wellbeing 5tratr8y. A designated Mental Healtli Lead wa5 appointed. and a ieam of pupil Wellbeing Amba55ador5 ha5 been ￿tablished Initi4tive5 Such a5 wellbeing day5. men.al health activitie5. and restO￿ti￿e praclice5 have been introduced t0 5UPPOrt both pvpi15 and staff. Attendance rnoniloring ha5 been strengthened, and rbew reporting procedure5 Put in place. SafeEU3rding 5upervi5ion meeting5 are held weekly between the Heatheacher. Designated Safeguaiding Lead and Treputy DSLS, and h31f-termly review5 are in p13ce with the Safeguarding governor. The Kho(Fl has made 5tride5 in promoting equality, dwer51ty. and indv5ion IEDII. A Neurodiversity Amba55ador wa5 appointed, and the RE curriculurTb was refreshed to include thematlc Studies of rnajor world religion5. Catering PTOV15i0n has been adapted to 3ccotnmodate dwer5e dietary needs and reducefood waste. with international f(K)d Ilay5 becoffling a Tegular feature_ Sustainability is now embedded in the schoJl culiure. Active trJvel has been promoted, ectrmonitors reintroduced, and stationery use rÈdutÈd. Pupils arÈ Èntouragèd tr> take personal rÈspofisibility through initiatives such as personal pèntil ta5es and playground toy man2gement. T¢achlng and L¢3rrbln8 Providin£ excellent teathinB in small classes by tommitted and S￿tIalist staff_ The individual needs of all pupils will bè met. Academic achievernent remained a COTner5tone of the school'5 mi55itsn_ YÈar 6 pupils once a8ainsÈcured FI3ce5 at tPEir Ihosen Senior sihoolg, with several rereiving 5cholarship5 across acadetniu, rnusic, and sport. The ISI inspection highlighted the quality of teaching anil the effectivgness of the ciirriculum in developing subject-speafic skills. Pupil assÈssment protÈdures h3vÈ beÈn S1Enrfitant￿ improvÈd. fv sthool htss impl@m@ntÈd è nÈw tomparatNÈjudEÈm@nt systÈm for writine, which has shown pupils perfortning above national expprtations_ A new provider lor 5tandardised 3sse55ment5 in Maths and English 15 being trialled, with plan5 to streamline 85se55menl across tPe school. The new asses5rnent data will enable comprehensive analysis and reduce teacher workload. The platforrn provides 5tandard15ed p a Sense of Social responsibility Riilwnond House offprs a rich and varied enriEhrnent progratnrne that suppart5 pupiI5' personal development ar￿ confidence_ Free after-5chocl dub5 were available every tjay tD all pupi15 from Reception to Year 6. covering 5POrt, music. creativity. outdoor learning. and scierKe. and new drama and performantr club5 were added. Wraparound care ran throughout the year. including 4 trial for Holiday Club to remain open across the Christrnas week. and the inrroducknon of new Specialist Camps across both SPDrtand PErforrning art5. Curriculurn-linked trip5 themed days took place acr(ks5 all year groups. Residentihl experiences included en￿ronmental Science trips lor Year 3, outdoor Challeng￿ for Ye3r4, activf(yweeks foryear 5. arnl a cultural vi51t to Paris for Year 6. These experience5 helped pupils develop independence. teamwork, and resilEnce. CorntDunity engagement h35 been 5trengtherEd through partneTship5 Wlth kKal nur5erie5. care hotne5, atKI ch4ritie5. Pupils have participated in musical perfortnance5 lor care hotne re5ident5. chzrity colletlions for Leed5 H05Pital Fund. and events such a5 the Rob Burrow Leeds Marathon. Effective Use of Resourres UsinE all our re50urce5 effectively to ensure long-terrn financial stability. to reduce our carbon footprint and to maintain the heritage of Richrnond House khool. The school demonsirated sirong financial management. achieving a surpltss of C53k for 2024n5, significantly outperformin. the budgeted defiiit, driven by pupil nutnber5 oulpErfoTma￿[e. Thi5 Was achieved despite the intTodurtion ofVAT on School fee5. which has been tnana8ed effedively by the school absorbing m05t of the increase. resulting In minirnal irnpart on pupil nufflber5. Facilities were improved through largeted investment. New fencing enhanced site security, d35STOOm5 have been redecorated. and Early Years. Wraparound Care. and Science & DT resources and facilTties were Jll upgraded. Sustainability measures included LED lighting, reduced ènergy usage. 2nd the Virtorian building underwent èssential maintenanie works with thè first phasè of an èxtènsive repointing and roofing improvemènt prograrnmÈ. The sthool tontinues to lÈvÈragÈ tts facilitie5 for intomÈ e*ner3tion. with lÈttings intomÈ intrèased 2ealn year-an-year. Marketing efforts have been revitalised with 3 new promoiion31 ¥ideo, the 13unch of ihe PEAK L3rnP3ign. and incre3sed use of video in 50ci31 med13. Social media èngagemènt Intre3sed. and Open Event attÈndantÈ improved through personalised tommunitstion and trèative dvertisinB_ Alumni Èng2ÈemÈnt ha5 bÈgun. with formèr pupi15 returnin8 to InspifÈ current studènts. Admissions processÈs have bèen streamlined, and 3 clearer poliry has been introduced rnanag1￿ over5ubscription In Nursery. All pupil and Staff devices were uperaded to new Wirdows 11 laptops_ A review of ryber security was completed. and th@ schDoI bgEan expltrinE the use of Al In planning and administration to improve Èfficiency. Staff trainine on IT s*tunty and usèee is ongoing. Employer of Cl*)1 Being an employer of choice where all staff are valued and where all staff vahJe workinLT at Richmnd House. Richmond House Sthtsol Is tommitted to bÈing an Ètnployer of thoitÈ. Staff tontrarts wÈrÈ r￿@Wed to offÈr flÈxibility Ind alignment wilh operational needs. The tran5ttion frDrn TPS to APTIS pensions wa5 managed 5rn00th1y, with 5UPPOrt 5tsff now offered the sarne pension option. Paee 6 RICHMOND HOUSE SCHOOL {REGISTERED NUMBER: 012706751 REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGLIST 2025 Staff wellbeing is a priority. with Initiat￿e5 such as Simply Health cover. wellbeing gJrvey5, and the forrnation of a Wellbeing Cornmittee. Recruitment practice5 have been enhanced to promote diversty. 3nd leadershiptraining IS being ￿e￿lOped for SLT and middle manageryEnt. 5taffln8 structures have bÈÈn adaptÈd to support WTaparound tsre and Ènrithmert. TÈachine assistants are now on tompressÈd ￿UrS contract5, afferinE balan￿ and flexibility to staff, and bank staff have been reuuiled to support holiday clubs. The school continue5 to attract quèlified and enthusla5tlC specialist practitioner5. Financial review Flnanclal position The unrestricted surplu5 forthe year atnounted to E53.21912024.. £98.9501. Investment poliry and objectives The Memorandum dictates that the Governor5 may invest the mc￿e¥ of thecharity not immediately required for its purposes in or upon such inve5tment5, securitie5 or property a5 tnay bethought fiL 5ubiectto conditi(ns Irf anylalld consents lif anyi irnp05ed 01 required by law. Re5eryes polir¥ The Go¥ernors 4im to maintain suflicient free reserves to ensure the effiaeTrt oper3tion of the School and to Safeguard against emerging financial risk5. RecognizirE the potential impact of future economic and po itical uncertaintie5 - ￿rtICUla￿V since the introduction of VAT on 5choDI feE5 in January 2025- the GovemDrs have detertTrined it is nece55arytO 5trenyhen the 5rhoDI'5 financial resilience, and the GovErnors On5ider the required free reserve Should be increased frorn the current level of three rnonth5' running CDSt5 lapproxitnatdy £635,Oc￿l to between four and four and a half rDonths running costs which. as at 31 August 2025. wauld be approximately £&io.orx) to £940.(K>D. As at 31 Augu5L 2025, the School held free reserves, defined as total reserves excluding fixed a55ets, designated. and restricted funds, of É777.02812024.. É761,8811. It is plaiined that the targeted free re5erYes level will be aihieved over the next 2-5 years through budgeted operatin8 5urplu5e5, ensuring the School 15 wdl-posttioned lo Ind￿ge these anlicipaied ri5k5 Any free cash balances are invested in interest bearing accounts with reputable finanoal institutions. Fixed asset funds The ￿sErveS of the khool include investrnents in school land and buildinB5 and other operating awts with a net book value at 31 August 2025 of £1,709.127 12024.. EI.771,0541. Designated fund5 At 31st August 2025 the balance on the fund designated for tsse for new Sports fJcilities is £350,iKX)12024.. £250,000>. Governors are progressing opportunities to progress this in the mÈdiutn tèmi. along with improving Other rnaior fatilities. if and when cirtumstanies allow nd thè timing is right. A fund of £80,(￿ is designated for use for rtbDf TeKAacemènt whith is *tili￿ted to bè TequirÈd within the nèxt fiv years. Paee 7 RICHMOND HOUSE SCHOOL {REGISTERED NUMBER: 012706751 REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGLIST 2025 STRATEGIC REPORT Future plans Following strong performance in 2024-25-including a successfvl ISI inspection and increased pupil nurnbers-the focu5 for corninE years is on malntaining financial stability In thÈ face of external thÈllÈngÈs. Underpinned by strong pupil nunbers, thÈ school Mrill Continuo to build on its suice55es by expanding enrichment opportunities, enhaniing sustainability. and itnprovinE facilities. Plan5 inilude furthpr curriiulurn developrnent. increased comrnunity engagetnent, and strategic estate irnprovernents alonE5ide digitsl transformation and 5tsff development. Safeguarding & WellbeinE ObjÈttivÈs for Safeguarding and WÈllbÈing arè to ensure cornpliènt safÈguardine anc high-quality Pastoral tarÈ. promoting thÈ wÈllbÈing of pupils and st3ff. cplebrating equality, d￿ersity, and inclusion auos5 our ￿h0o1 CDrntnunity. and f05tering a iulture of sustainability. In 2025 126 thi5 will be delivered through-. o Maintain robust safeguarding svstems with regular audits and staff tr3ining. o Impletnent wpllbeing as5e55tnents for pupi15 and etnbed rTrew tiered pastoral support. o Expand rnental health provision and restOrat￿e prattice5 in a ne￿ Behawour Policy training for staft. o Pupil mental health days. tiered 5UPPOrt 5y5tem. pupil wellbeingsurvey5 o Develop additional playground zones and explore 5ens0ry room fea5ibility- o Deliver annual neurodiversity training for all teaching staff. o IntrDduce ParEnt online Safety training o Review catering provi5i0n for inclu5iwty and sustainability. Teaching and Learning Objeitives for Teaching & Learnin8 are to ensure equality, diversity. and ir￿￿519n within the iurriculum, eiihanrins whole-school a55e55ment procedure5 to detnOn5trate value aded and infDrm plannin& miintain h￿h leve15 of acadetnic achievetnent, extend specialist teaching, and deliver an EYFS curriculum that eD5ure5 all pupi15 rneet key developrnental rnile5toneswhile embracing EDI principle5. In 2025 126 this will be delivered through.. 0 Strengthen awssment system5, leveraging technology with nev*ty introduced standardi5ed as*ssments provision. o Embed new ￿anning forrnat5 to en5UTe adaptive teachingfor SEND ac3dernically tnorp able pupi15 o Protnote reading for pleasure acro55 all phases and further de¥ebp writing skills acT055 the curriculutn. o Adoption of new Perforrnance and Development Review format focusi1￿ on 5pwfic whole school targets. triangu13tion of re50urce5 to dernonstr3te evidence of high-performance te3chin8 and'outstanding ieachers sh3ringg(K)d pr3Ctite o Monitor the impact of newly introduced digital plaifomis le.g., Atom LeJrnin& Developing Expertsl- o ContinuÈ turritulum refresh in humanities and RE.. ￿n￿re EDI intègration. o Enhance Early Years outdoor learninE opportunities and rÈwèw classroom layouts. irnprowng tDn5iStenry In iÈachinÈ stÈndards and resourtè provision. EnrithmÈnt & Communit¥ Objectivps within the Enrichment & Ctstnrnunity pillar of the strategic plan are to ensure the enrichrnent pro8ramrne fosters È culture of EDI, to provide quality school care outside of our school hours, to conlinue to enhance enrichment opportunities through the curriculum and to identify opportunities for pupils to engage with the Ioc31 community to rnutual benefit. In 202S 126 this will be delivered throuEh.. o BroadÈn enrithmÈnt opwrtunrtiÈs through dwersÈ trips and visiting S￿akerS. o Develop outdoor learning faiilities (bike trail, boulderingwall. mjd kitchensl- o Increise pupil partlClP3tion in mu￿C, drama, and 5POrt,' enter fflore extemal festival5. o Expand wr8paround tsre quality and holiday club prowsion. 0 5trengihen communrcy èng3gÈment through events and alumni inyolvement. o DÈ¥eltip a finantial awareness day to rEplace Enterprise Day. using parent ex￿rtI$È and extemhl visrtars. Effective Use of Resources Paee 8 RICHMOND HOUSE SCHOOL {REGISTERED NUMBER: 012706751 REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGLIST 2025 STRATEGIC REPORT Objective5 Wlthin the Effective Use of Resour￿5 pillar ol the stTat%ic plan are to ensure long-twm financial stsbility. driven by pupil numbers balanced with cost control. Drive pupil recruitment and retentv)n through a robust rnarketing program leveraging our nursery pipeline. malntain and Ènhance thÈ estate to dÈlivÈr a prÈmium Èdutational expÉriÈntÈ. ImplemÈnt tommÈrcially viablÈ sustainability Initiatives, strengthen IT infrastructure and staff iapability to support securp and data-driven education, and tnaximize the value of 51hoal faulities as both a 5howca5e for pr05pectwe f?rnilie5 and a Source of Tevenue. In 2025 126 thi5 will be delwered through.. o Maintsining surplu5 budgets despite VAT irnpact. moni10ringadmis5ion5 trend o Review resÈrvÉs polity and InvÈsttnÈnt pnonties for long-tÈrm sustainability. o Extension af governrnent Funded Early Education Ent￿ement for 2-year-old5 o Drive pupil recruitrnent through tsrgeted carnpaigns an¢J enha￿e￿ open events. Launch of a new website, elevated social Tnedia presence, strengthen alurnni engagement and communiry partnerships. o Continue phased building repairs and aesthetic improvements. with ac(derated re-pointing pr0grarnn￿. improve dining hall environment and EYF5 outdoDf Space. o Redure Carb￿ footprint thiough pnergy audits. travel initiatives. menu planning. o Feasibility rewew for new 311-we3ther 5PQrt5 Plt£h faciltty o Extend Al usefor administration and wellbeing. o Implement cyber security improvement5 and tender key IT ser¥ice5. o Streamline parent CDrntnuniiation channe15 Employer of Choi Our Strategic priorities in being an Employer of Choice are to offer a comFetitive and flexible benefits package. maintain Staffing Structures that SUPPQft qualit¥ delivery acr05S the full provision, ren)ain awle to cryst changes driven by pupil numbers, promote staff wellbeing, and ensure 5peciali5t pr3rtitioner5 are qualified. experienied. and enthu5ia51ic. Objedive5 to delwerthi5 in 2025126 are.. o Introduction of comprehensive wellbeing benefits and COnt￿ue io lJencl¥nark 53larie5. o Continue the transition from TPS to APTIS pensions. o Maintaiffl flexible staffing structures to support growrh and wraparound care. o Promote 5t4ff wellbeing throu8h cotnmittee initiatives and training. O Leadership training prograrnrne based on the principle5 of coaching o Launch new Perforrn3nce Developrnent Rwew frarnework that prw(les clear goals fostering development through feedback, and offering a chance to be reco8niEed for achievements STRucfuRE. GOVERNANCE AND MANAGEMENT Govtming document The Campany 15 governed by its Memoranduffl and Artides of A$s￿l3t10￿. amendÈd on 26 MÈY 2024. Paee 9 RICHMOND HOUSE SCHOOL {REGISTERED NUMBER: 012706751 REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGLIST 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Dlrectors and Governors of the cornpany The Governor5 are the (har1ty's Tiustees ar*J Company Dirertors of Richmond House School. The Governors are a self-appointin£ bodv. Governors over the coursÈ 012024125 and in plate as atthe date of signing of thÈsÈ attounts havÈ bÈÈnlare." H Hanity (Chairl A W￿t Ivice Ch3ir from October 20241 E ChuntharpUr￿t-BOTr PJ Fox H Kemp S Middleton D Milner E Moran C shields l ToNwend S Wilson (appointed October 20251 GPWood Recrultment and tralnlrvx The Trustees of the SchoTrl are rnembers of the Charity. A new rrbember will be adtntted to Board of Governor5 on the approval of the eK15tiDg Board of Governor5 which shall have ab501ute dixretion as to tbe adrniss￿lb of any person. The Chair reviews the policie5 over selection, recruitment and training of Governors on a regular bas￿. A Goveinor'5 terrn of office is normally four year5, Wlth r￿eleCtIon for up to three terms. Training for Govemors over the course of 2024125 included training on Safeguardin& Cyber Security 3nd Health & Safety. OrganisatiQDal management The Governor5 meet 35 a whole iKxly at least four tirne5 per annum to revEw the SthoDI'5 artrwties and5trategy and determine the general policy of the School The dayto day management of thekhool is delegated to the Headteacher and the se￿lOr Leadership Tearn. Governors are bdvised of any changes in governance requirernent5 and informed of training covr5es andconferences to further their knowledge. The School 15 a member of the A55fKbatbon of Governbng Bodie5 of Inde￿￿￿ent khoo15 IAGBISI which runs training cour5e5 lor governor5 and advise5 on best pr3Ctice. The Headteacher is a member of the Independent A550ciation of Prep Schools IIAPSI and the Bursar is a member of the Inde￿ndent Schools ur5ars Association IISBAI. Key management rtmuneration The d3Y-ta-day running of the schaol is delegated to thÈ SÈfftior LeadÈr5hipTÈam. The mÉrn￿rS of the Senitsr Leadership Tearn during 2024125 and in place for 2025126 are.. S Young HÈèdtÈacher A Hav2rd Bursar A Wilkin50n Deputy Headtpacher and Designated Safeguaiding Lead A Young Senior Lead forTeaching and Learning Mèmbers of the Senior Lead@rshipTe3m attended sevÈral Board meetin￿ andlor Committee meetings ovèr the course of the year.. The remuneration of key management personnel is Set by the Board. The appropriateness 3nd relevance of the remuneration palicy is reviewed 3nDually. including reference to comparison5 With other independent 5ch¢xils. to ensure thal the School remains Sensitive to the br03der issues of and emplovment conditions elsewhere. Pa8e 10 RICHMOND HOUSE SCHOOL {REGISTERED NUMBER: 012706751 REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST AUGLIST 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Prfncipal rlsks and uncertsinties The Governors keep the School's acti¥itie5 under revkY4. particularty in regard to major risks that may arise as well 35 to systems and procedures establish￿ to manage and mitigate thosÈ ris￿. ThÈ TrustÈÈs h￿t asstssÈd the major risks-paticularly opÈration21. financial, and technological-and are Sat￿rIed that robust SY5tetns are 1.7 Pla￿ to rnanage and rnitigatE exposure. Controls are designed to piovide reasonable assurance against fraud, eTror, and ryber threats. The major risks can be c3tegorised 05 financial, educational, reputational, legal, and technological (including cybersecurityl. The key rontrols aTe'. - cle3r governance structure. including committee5 and formal ag￿da5 and minutes cle3r organisation, ￿SpOnsIbl11t1eS. and reporting lines clear authori5ation and approval levels - 5tratEgic plan5, budget5, and finan￿31 managetnent indudingteTmty Mant￿rnent attounts - careful planning and rnanagetnent of pfojerted pupil nutnber5 forrnal policie5 and re5PQn5ibilities includingchild 5afeguardin& health and Safety. saler recruitrnent. and Dperational area5 robust IT 5Y51em security rneasure5, in£luO'ng firewalls. encryption. multi-factor authentication, regutsr vulnerability assessrnents, with Secu￿ remote backups and disaster recovery protctols ro protect against dats loss and cyber inodents - a detailed r15k reg15ter in place which is reviewEd at every Board meEting and itb rE5pernwe Comrnittee wnLEtlngs The introduction of VAT onto independent School fees frorn January 2025 pose5 Significant risks for Richrnond House School and all independent schools. as evidenced by the clob5ure5 of several IcLal schools Since then. In addition, the removal of Mandatory Rates Relief together with the reduction in Employer National Insurance Contribution5 thresholds and inuease in contribution rates, all in April 2025, repre5eiit significaiit cost headwinds for the school. L￿ger terin, Costs OF expected changes such as workplace reforms, and 2050 net zero target5 in an aging herita8e buildirE, add further finanrial pre55ure. Governor5 at Riihrnond House SchoDI are mindful Df these threats and continue to work to mllllm15e the impart on parent affordability and the srhool. in addition to building financial reserves to build resilience against these threat5. The Trustees are confident that. given the stTong foundation5 existing within the School, Including a widely skilled Board of Governors, Strong leadership. a stable workforce. increased pupil numbers and a sound balance sheet (which include5 free cash re5ervesl, that the School will weather the current and impendin6 storm5 albeit that they also recognise that some ￿rd decisions may need to be taken t titnes to ensure that the School continue5 on a strong trajf Itory. The Board of Governw5 continues to periodically ieview financial forecast5. tiking 3 prudent approach given the charitable statu5 of the khool. AUDITORS The ￿ditorS, Thomas Coombs Limited, will be proposed for re-appointrnent at the forthcoming Annual General Meetin8. Report of the trustèès, incorrx)rating a stratÈElC report. approv￿ by ordei of the boaid of trusteès. as thè tompany dirertors, on 5th Fèbruary 2026 and Signed on the board's behalf by: H Han£ty- Trustee Pa8e 11 RICHMOND HOUSESCHOOL STATEMENT OF TRUSTEES. RESPONSIBILlnES FOR THE YEAR ENDED 31ST AUGUST 2025 The trustee5 Iwho are also the dirertor5 of Richmond House School for the wrp05e5 of company lawl are re5POll5ible for preparing the RepDrt of the Trustee5 and the financial statement5 in accord3nce with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Prarticel. Company law requires the tru5tee5 to prepare financial 5tatetnents for each finantial yeai. UndEr that law, the tru5teE5 have elected to prepare the financial statements in accordance with United KinEdorn Generally Accepted Accounting PractiTr (United Kingdotn AccDuriting Standard5 and aprjlicable lawl. Under company law the tnJstÈes must not approve thÈ finantial ststÈments unlÈss they are sat15hÈd that they givÈ a truÈ and fair view of thÈ st3tp of affairs of the charitable company aThd irf the iniorning resources and applicatK)n of resource5. including the incDrne and expenditure. of the charitable company for that period. In preparingth05efinancial statements. thetru5tee5 are requirEd to select suitable accounting polici￿ and rhen appty them congsteritty- observe the mEthod5 and principles in the Charities 50RP,' tnake judgement5 And e5titnate5th3t are reasonable and prudent; State whether applicible accounting standards have been followed. subject to material departure5 di5c105ed and explained in the financial 5taternent5.' prepare the finanoal statements on the going concem basis unless r( is inappropriate to presurne that the charitable company will continue In bu5ine55. The trustee5 are re5POn5ible for keeping protRr accounting record5 which d15cl95e with reasonable accuw at any brne the financial position of the charitable company and to enable thcyn to ensure that t￿ financial statements comply with the CompaDie5 Act 2006. Ihey are also responsible for safeguardng the asset5 of the charitable cornpany and hence for taking reasonzble step5 lor the prevention and detection ol fraud aiid other irregularities. In 50 far as the trustee5 are aware.. there is no relevant audit information of which the charitable compa￿5 auditors a￿ unaware- and the trustees have taken all step5 that they ought to have tsken ro make themselve5 èware of any relevant audit information and io establish that ihe auditor5 are aware of that irifortnabon. Pa8e 12 REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF RICHMOND HOUSE SCHOOL Oplnltsn We have audited the firn3nci31 staternents of Richtnond House School (the 'charitable company'l for the year ended 315t August 2025 which comprise the Statement of Financial Activitie5. the Balance Sheet. the Cash Flow Staternent and note5 to the finanual 5tatement5, including a summary of significant accounting policies. The financial reporting frarnewoth that has been applied in their preparation is applicable law 3nd United Kingdom Accounting Standards Iunited Kingdom GenerallyAccepted Accounting Practice). In our opinion the financial 5taternents'. give a true and fair wew of the state of the charitable company 5 affaiTS a5 at 31st August 2025 and of its incominE resourtr5and applir3tion of resources. including its income and expenditure. fcrthe year then endtd.- have been properly prepared in accordance with Unrted Kingdom Generalfy Accepted Accounting Practice." and have bÈen prep2red in accordantÈ with the requiremÈnts of the CompaniÈsAct 21%￿. Basi5 for opinion We conducted our audit in accordance with Intemational Standards on Audf(ing IUKI IISAS IUKII and applicable law. Our responsibilities uThder those standards zre further described in the Auditors. iesponsibi itie5 for the audit of the financial staternents section of our report. We are independent of the charitable company in accordance wrth thE Ethiial requirements that arE relevant to our audit of the financial Statements in the UK. including the FRCs Ethical Standard, and we have fulfilkd our other ethical respon51t￿litIeS in accordance with these requiretnent5. We bplieve that the audit evidence we have obtained is Sufficient JrKI appropriate to provide a bas15 for our opinion. Conclusions relatinB to going concern In audlting the financial statetnents, we have concluded that the trustee5' Use of the going coniern basi5 of aciounting in the preparatlDn of the financial 5tstements 15 appropriate. Based on the work we have performed, we have not identified any rnaterial uocertainties relating to event5 or conditions that, individually or collectively, may ￿5t significant doubt on the charitable company's ability to cOnti￿￿e as a Eoing c0Th￿r￿ for a period of at least twelve months from when the financial staternents ale autliori?ed for issue. Our re5PQll5ibilitie5 and the re5PDngbilitie5 ofthe tw51￿ with respect to going concem are described in the relevant 5ection5 01 thi5 repDrt. other information The trustee5 are responsible for the other information. The other information comprises the information included in the Annual Report. other than the financial 5tatement5 and our Report of the Independent Auditor5 ttrEreon. Our opinion on the fin3ncial 5tatefflent5 doe5 not cover the other iThforTnation and. except to the extent otherwise exp1icitty stated in our report, we do express any formof aSSurar￿e condusion thereon. In tonnettion with our audit of the finantial $￿te[￿entS our reS￿nsIbIlity 15 to read the other information and. in doin8 SO, tonsidÈr whÈthèr thè othèr Information Is Material￿ incon5iStent with the financial statÈtnÈnts or our knowledEe obtainèd In the audrt or otherwise appe3rs to be materially rnisstated If we identify 5uEh material Incon515tencies or apparent material rnisstatement5. we are required to determinÈ whether this gives rise to a material mi5StatemeTht in the financial 5tate.mp.nts rhp.m5el¥ps_ If. based on the work wp. have performed, we concludo that there is a matèrial MI￿ratern￿nI of this Other inforrnaiion. we are required to report that fact. We have nothin8 to r8pori in this regard. Opin￿n5 on other matters presrribed bytt* Companie5 Art2(K)6 In our opinion, based on the work undertaken in the course of theaudit= the inform3tion given in the Report of the Trustees for the fin￿cl31 year for which the finanaal ststÈmènts are prepared is consistent with the financial statements., and the Report d the TrusteÈs has bÈÈn prÈp3red in atcordancÈ wtth applicablÈ lÈEal rÈquiremÈnts. Pa8e 13 REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF RICHMOND HOUSE SCHOOL Mattors on whlth WÈ arÈtÈqulrÈd to rÉport by exthptitin In the light of the knowledge and understanding of the charitable cofflpany and its etwirontnÈnt obtainpd in thÈ toursÈ of the audit, we havÈ not identified material mi55tatements in the Report of the Trustees. We have nothing to report in respect of the fdlowing matters where the Cornpanie5 Act 2￿6 requires us to report to you if, in our opinion". adequate accounting rÈcords have not bÈen kept or retums adÈquatÈ forour audit have not bÈen received from branches not vlsited by us,. or the financial statements are not in agreement wth the accounting record5 and return5.' Lir certain disclosures of trustees, remuneratlon Specified by law are not made. or we have not received all the information and explanations we require for ouraudit. Re5lYM15ibilities of trustees explained more fully in the Statement of Tru5tee5' Re5pon5ibilttie5. the trustees Iv4'ho are a150 the director5 of the charitable cotnpany lor the purposes of comp3ny lawl are responsible for the weparatior, of the financial st3tements and for beiTE sat15fied th3t they give 3 true and fair view. and for such internal control as the trustees detemiine 15 necess￿ to enable the preparation of financial 5taternent5 that are free frorn matErial Ini5Statement, whether due to fraud orettor. In preparing the financial staternents. the trustee5 are re5PQll5bi le for aSie55ing the charitable company'5 ability to continue a5 a going concern. disclo￿ng, a5 applicable. matters related to going concern and u51ng the goi￿ concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease ￿eratIonS, or ha¥e no realislic altematNe but to do so. Pa8e 14 REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF RICHMOND HOUSE SCHOOL Our rtsponslbi1it￿S lot thè audil of the Ilrbanthl statrmertts Our objeitive5 are to obtain reasonable as5uranie about whethLY the fiThancial statements a5 3 whole are free from material rni55tatement, whether due to fraud or error, and to issue è Retx)rt o- the Independent Auditors th3t includes our opinion. Reasonable assurance is a high level of a55urance. but 15 not a guarantee that an audit conducted in accordantr with ISAS IU¥I will alway5 detect a materi31 mi55tatement when it exists. M155tatements caTh arise from fraud cf error and are considered material if. individu311y or in the aEgregète, they could reasonably bÈ expected to Influente the Èconomic dÈti&ons of usets taken on the basis of thÈsÈ finanu21 statements. The extentto which our kYocedure5 are capaue of deterting irregularitie5. I￿lUding fraud is detailed below.. Irregularities, including fraud. are in5tance5 of non-complian￿ with law5 and regulations. We desiEn procedures in line with our responsibilitiÈs, outlinÉd above, to detÈrt matÈrial misstatÈmÈnts In rÈspÈtt Df iNÈgularitiÈs, including fraud. ThÈ extÈnt ttr which Dur procedures are Eapable of detecting irregularities, inilueing fraud 5 detailed below.. Based on our understanding of the entity and indv51ries in which rt operates. we identified the principal ri5k5 of non-complian￿ with law5 and regulations related to the application of charit3ble funds and data protection. We a150 considered those laws and reBulation5 that have a direct irnpact on the preparatio￿ of the financial staternent5 such as the Chantle5 Art 2011. We a55e55ed the 5Usceptibility of cornpanW5 financial 51atefflent5 to material misstaternent and how fraud might occur. including through discussion5 Wlth the directors. discussions within our Judit team planning meetin& updating Jur record of internal contro15. and ensuring these contro15 operated ￿ intended. We determirbed the principal risks were related to income recognition, in particular deferred income. and management bia5 in aciounting E5tirnate5. To addre55 the risk of fraud through rnanagernent bia5 and overri(le of conlro15. we- Perforrned Znalytical prLKedures to identify Bny unusual or unexpected relationships. Identified and tested journal entrie5 and identified anysignificant transactions that were unusual or outside the normal course of busines5. Investigated the ratloi1a￿ behind significant or unusual transactions. Ch411enged a55UrnPtions and judgetnents tnade by rninagernent in determining 5ignifiiant accountiDg e5timate5, ID particular in relat￿n lo depreciation. In response to the risk of irreEularitie5 and non*offlpliance with lèw5 and regulation5. we de5igrEd audit wocedure5 which Included, but were not limited to. - Agreeing fin8fflcial siatements di5dosure5 to underlyin8 5UPPQrting documentation. Di50J5519ll5 with m3nagement of knowTTr or 5uspeited i15tances ol non-corvpliance with law5 ar￿ fegulations. Reading the minutes of rneeting5 of those charged with 8overThance. Reviewing correspondence wtth relev3nt regulator5 indudinE the Charities Cornmi5sion_ At the completion stage of the audit, the engagement partner's re￿eW included ensuring that the tearn had approached their work with ppropriate professional stÈptiiism and thus thè tapatity to identify non-tompliante with laws and regulations and fraud. TherÈ 3rÈ inherent limitation5 in the audit procedures describetl abtwe and the further removed non-lotnplianie of laws and rÈgulations is from the. e.ve.nls 3nd transactions reflected in the financial statements. the les5 likp.ly wp would become aware of it. Also, the risk of not detecting a m3teri31 rniSStat8meni r&latin8 to fraud is higher than the risk of not deiectin8 one resultiTr3 from error. as fraud m3y involve delibèrate tontÉalment A further description of responsibilities for the audit of the financial statements is located on thÈ Finaniial Reporting Ctsuntil'5 website at www.frc.org.uV3uditorsresponsibilities. This de5CriPtioTh forms Part of our Report of the Indeper￿eTrtAu￿1tor5. Pa8e 15 REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF RICHMOND HOUSE SCHOOL Usè ol tsut report Thi5 report 15 rnade 501e1y to the Iharitable cotnpany's rnetnbprs. as a boty. in accoidanEe with Chapter 3 of Part 16 of the Comp3nie5 Att 2006. Our audit work h35 been undertaken SQ that we might state to the charitable company's member5 those tn3tters we are required to state to them in an auéitors, report and for no other purpose. To the fullest extent perrn￿ed by law. we do not accept or a55ume responsibility to anyone other than the chantable company and the charitable cornpany's member5 as a body, for our audit work. for this report, or for the opinions we have formed. Shaun Pull3n15onior Statutory Auditor) for and behalf of Thoma5 Coomb5 knrnited Statutory Auditor Chartered Accountant5 3365 The Pentagon Century Way Thorpe Park Leed5 West Yorkshire L515 8ZB 5th February 2026 Pa8e 16 RICHMOND HOUSESCHOOL STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31ST AUGLIST 2025 2025 Totsl furKIs 2024 Total funds Vnrestrirted funds Re5trirted funds Notes INCOME AND ENDOWMENTS FROM Donations 3nd legacies 28.064 26,422 Charltable artlvliles Operation of ihe schoDI other ancillary trading income 2.403.668 195,528 Z.403.668 195,528 2,420,011 188,586 Investment income Total 49.763 77.023 49.763 2.677 023 36,731 2,671.750 EXPENDITURE ON Charltable activities Operation of the school 2,623 2,623,804 2,572,800 NET INCOME 53.Z19 53,219 98,950 RECONCILIATION OF FUNDS Tot81 funds brought forward 2W,935 2W6Z,935 2,763,985 TOTAL FUNDS CARRIED FORWARD 2 916 154 1916 154 2 862 935 The notes form part of these financial statements Pa8e 17 RICHMOND HOUSE SCHOOL {REGISTERED NUMBER: 012706751 BALANCE SHEET 31ST AUGUST 2025 2025 Totsl furKIs 2024 Total funds Vnrestrirted funds Re5trirted funds Notes FIXED ASSErs Tan8ible 35sets 13 7(P3.127 1.709.127 1,771,054 CURAENT ASSETS Debtors C35h 3t bank 14 151.813 IA86,255 IM38,068 55,646 1,751,375 1.807,021 1.886,255 2.038.068 CREtMTORS Amounts falling due within oThe year 15 I614￿11) 1614,5111 1493,5291 NET CURRENT ASSETS 1.423.557 IA23.557 1,313,492 TOTAL ASSETS LESSCURRENT LIABIUMES 3.132.684 3,132,684 3,D84.546 CREtITORS Amounts fallin8 due after more than onÈ year 16 I216￿) 1216.5301 1221.6111 NET AS5Efs FUNDS LJnre5triited fund5 TOTAL FUNDS 2.916.154 2 916 154 2 862.935 19 2.916.154 2 916 154 2.862,935 2 862 935 The financial statements were approved by the Board ofTrustees and 3uih(rised for issue on 5th February 2026 ancl were signed on its behalf bv.. H Han£ty-Tru5tee The notes form part of these financial statements Pa8e 18 RICHMOND HOUSESCHOOL CASH FLOW STATEMETrrr FOR THE YEAR ENDED 31ST AUGLIST 2025 2025 2024 Notes Cash flows from Operat1￿ aCti￿tIeS sh genÈrated from tspÈrations Interest paid Net Cash provided by operating acli¥itie5 174214 14 159520 413,351 17,8981 395,453 Cash flow5 frorn investing ortivi¢ies Purchase of iangible fixed assets S3le of rangible fixed assets Net cash used in investing actiwtie5 124WI 172,9601 2,9 169,9701 24WI Cash flows frorn financing artivities Loan rppiyments in year Net cash provided byllusÈd inl financing attivf(iÈS 4,7421 4,7421 Change In cash and cash equivalents In the reportlng perlod Cash and cash equivalents atthe beginning of Ihe reporting Cash and cash equivalents atthe end of the reportlng Pe￿0d 320.74L 1.751375 1,430,634 1 751375 The notes form part of these financial statements Pa8e 19 RICHMOND HOUSESCHOOL NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGLIST 2025 RECONCIIIAnON OF NET INCOME TO NET CASH FLOW FROM OPERATING AcnvmES 2025 2024 Net int*mÈ forthe roportlng perlttd las pÈrthÈ StaiÉinÈnt of Adjustments for.. Depreciation charges Profit on disposal of fixed asset5 53,219 98,950 86,567 90,726 12,9851 17.898 14,5401 14,694 196,167) 115 901 174,214 IntrÈasÈ in dèbtors Increase in c￿dItorS Net tash ptO7dldéd by operatlons 413 351 ANALISIS OF CHANGES IN NEf FUNDS Ar 119124 Cash now At 3118125 Net cash cash at bank 1 751 375 1 751.375 134,880 1.886.255 Debt Debts falling due within l year Debts13llin8 (lue 3fter l year 111.2241 2ZI 6111 81 1232,8351 5,081 139 1518 540 ￿61 111,2241 216 5301 1227,754 1 658 501 Tot#1 The notes form part of these financial statements Pa8e 20 RICHMOND HOUSESCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 COMPANY AND(JIARITABLE STATUS Richmond House School is a company lirnited by guarantee. The Euarantors are the Govemors named on ￿ge l. The liability in rÈspÈcr of this guarantÈÈ, as set out in the mÈrnorandum. is limit￿ to £1 pÈr member. The compa)y 1$ 3 charrty, Registration Number 505630. ACCOUNnNG POUCIES Bask of preparlr¥ the finaTrci#l Statements The financial statpment5 titthe Iharitable cotnpany, whiih is a publK benef￿* entity under FRS 102. have been PTepared in aciordBnce th the Charities SORP IFRS 1021 'Accounting and Reporbng by Charitie5". Statement of Recorntnended Praclice applicable to charities prepanng their Kcounts in accordance with Financial Reporting Standard applicable ITh the UK 3nd Republic of Ireland IFRS 1021 (effective l January 2D191', Financial Reporting Standard 102'The Financi31 Reporting standard applicable in the UK and Republic of Irpland, and the CompaniE5 Act 2006. The financial statetnent5 have been prepared under the historical CD5t convention. The firEncial 5tatement5 are prepared on a going concern basis un4J= the historical cost convention. rrodifie(I to inilude certain items at lair value. The financial 5t3tements are presented in sterfing which is the functional currency of the charity 3nd rounded to the nearest £. The 5ignificanl aicounting policie5 applied in the preparation ol these financial 5tatemetts are set out below These policies have bpen consistent￿ applied to all year5 presented unle55 Othew5e 5tsted. GoinR coThcem The so¥ernors have prepared robust forecast5 (overing the peri(xl to August 2026 and undertaken an a55e55ment of expectarions for the following acBdemii year. These fDrecast5 and a55e55rnent5 coniinue to bp regularty reviewed and. having taken into account the projected cash flow5. exi51ing cash ￿ServeS and bank loan Commitrnents. the governor5 consider the school will continue to be a going concern forthe foreseeable future. ran￿ble fi¥ed a￿ets Tangible fixed a55et5 are 51ated at CDSt or deemed lo￿ le55 accurnulated depreciation. C05t include5 Costs direttly attributable to rnaking the a55et capable of operating a5 intended. Depreciation is provided on all tangible fixed 3ssets. at rates calcdated to write off cost. less estimated residual value. of each asset on J systernatic basis over its expected useful life as follows: Freèhold buildings Long Le35ehold buildingg Fixture.s, fittings and equipment Machinèry Motorvehitles 50 years SO years >IO ¥e.ar5 20 years 5 yèars Long le3sehold land is not depTeiiated. Thè Charity capit31ises assets where they arÉb considgred to have aneconornic benefit tD the SchorA for a pèriod greater than a year. rèxatlon The charity is exernpt from iarporatlDn tax on it5 thartfaNe a(ti￿ties. Fund ￿CoUn11nE Unrestricted fijnds can bè US￿ in accordance with the charttablè objertNes atthe disuÉtion of the trustees. Restricted fvnds can only be v5ed for particulaT restriited purp05e5 Wtthin the objects dthe charity. Re5triction5 arise when spe£rfied by the donor or when funds are raised for p3rticular restrKted purposes. Paee 21 continued... RICHMOND HOUSESCHOOL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2025 ACCOUNnNG POUCIES- conynued Fund ￿COuntIng Further Èxplanatlon of thÈ nature and purw>sÈ of eath fund is intluded in the fftotes to the finanaal statemeffls. Income and endowrnents Operatlon of school IncomÈ from school feÈs and for other sthoDI seMtÈs is iÈcoEnisd in linè W￿*h thè tÈrm to whith they relate. Fees tonsisr of charges billed le55 di5COUnts. Investment income Investment income relate5to interest and 15 induded when recewable. DonatiDns re£ei¥able Donation5 receivpd are treated a5 income in thp year in which entiuernent is dernonstrable condition5 have been Tnet. Donations subject to 5pecrfic wishes of the donors are treated a5 rer.ricted funds. Expendlture Lièbilities are [￿O8￿1$ed a5 swn a5 there is a legal or ionstrurtive obligation rommitting the charity to that expenditure, it 15 probable that a transfer of economic benefits will ￿ required in settlement and tIE awount of the obligation can be tne35ured reliably. Expenditure 15 accounted for on an accrua15 ba515 and ha5 been classified under heading5 that aggregate all cost related lo the category. Support (9515 Support COSt5 have been allocated toactwttv C05t cateKorie5 on a ba515 con515tent wtth the use of the resources. Pension costs The c￿rItY make5 contributions to the Teachers, Pension Scheme. a multi*rry)loyer defined benefit pension scheme. As the Ch3rity is unable to separately identify it5 sharp of the a55et5 and liabilities OF the 5cheYne, the 5Ihetne 15 accounted For a5 if it were a defined contribution scheme under FRS 102. The cothtribution5 are charged against iTrcorne a5 they becoTne pay3ble in accordance with the rules of the scherne. The charitable company also operates a defined contribution stakeholder pension ￿heme for support staff. Contributions pDyable to th* tharitablÈ tompany's pÈnsion sthemÈ are chargèd tts ihe StatÈmÈnt of Financial Altmties in thÈ pèriod to whith thÈy rÈlate. Financial instruments The charity only pnters into tran5acrions in basic. financial instrumenls which result in the recognition of 355ets and liabilities., these include tr3de and oiher dabiofs and creditors, bank balances. loans from b3nks and other third partieg, and loans to related panies. ThÈsÈ are rÈco8nised In the tompany s bèlantÈ sheÈt when it betornÈs party tts the contractual provisions of thÈ instrument_ Basic financial as£Èts lother than tha5e classified as payable withn one yearl are initially rneasured at cost and 3Te subsequently rried at C05t or amortised cost using the effective interest method. le55 any irnpairment 10sse5. Basic financial assets classed a5 receiv3ble within one year are not 3rn0rtised. B2slt finantial IiabilitiÈs lothÈr than thtssÈ classffid as ptyablÈ within onÈ yÈarl are initially mÈasured at prÈs@nt value of future tash flows 3nd 5ubse4uently at amorti5ed cost Using the effective interest rnethod. Basic financial liabilitie5 classed a5 payable within one yearare Dot amortised. Financial assets 2nd liabilities arè offse¢ wrch the nèt amount reported in the finanti31 statemÈnts, when th&re is 3 leeilly enforteabl rlght to sÈt off the rÈcognised amounts and therÈ Is an irtEntion to SÈttlÈ tsn a nÈt basis or to reaisÈ the and settle thÈ liability 5imultaneousty. Leases Paee 22 continued... RICHMOND HOUSESCHOOL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2025 ACCOUNnNG POUCIES- conynued Rentals payable under operating leases are charged to the SOFAon a straight line basis overthe period of the lease. Crltical accounting judgernents and key sC￿rceS of estimation uncertainty In the application of the School's accounting po icie5. the-.rustees are required to makejudgernents, e5tymate5 ?nd a55UtnptlDns about the 2,¥62,Y35 80,WO 2,7L12 2.761.285 Y¥,95U Restricted funds Parents, Associatlon Capital Fund 2.702 12,7021 TOTAL FUNDS 2 763 985 2 862 935 Comparative net movement in funds. included in the above are as follows.. Intoming re50urce5 RÈsourcÈs expended MovemÉnt in fund5 Unrestrided funds Free reservÈs 2,671.750 12.572,8001 98,950 TOTAL FUNDS Unrestritted funds are those hJnds ex[￿ndable at the distretion of ihe Governors in pursuance ol the Charrty's objectives. The fixed asset re5ÈrvÈ repres@nts unrÈstrittÈd funds ￿1[1 in th@ form of tangible fixÈd assÈts. These figures intludÈ unrÈ3lisÈd revaluation of the freehold buildings 3ri51llB on first transition to FRS102 of £656.$6412D24.. £656,8641. Designated funds represent the amounts thai the Govewnors have set aside for the future devdopment of the school's Sports and Performance facilities, and the anticipated roof replatement. Paee 31 continued... RICHMOND HOUSESCHOOL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2025 20. RELATED PARTY DISCIOSURES There were no related partytran5aCth)ns for the year ended 31st August 2025. 21. PENSIONS SCHEME The School participate5 in the Teacher5. PeTh5ion Scheme 1.the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £187.13112024- £221.8121 and at the year-end £41.09012024 £26.2061 was accrued in respect of £ontributions to this scheme. The TPS 15 an uDfunded multi-ernployer delined benefits pension 5cherne g(werned by The Teachers, Pensicn5 Regulation5 20LO las amended) and The Teachers, Pension Scheme Regulations 2014 las amended). Members contribute on a 'pay a5 you go" basis with contribution5 frLNn members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid bv public fund5 pro¥ided by Parliarnent. The errployer contribution rale 15 Set by the Se-relary of State foll(wing Scheme valuation5 undertaken by the Government ArtuBry's Department. The m05t recent actuarial valuotion of TPS wa5 prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation RepLYt disclosed notional asset5 of £222.2bn and liabilities of E262bn, resulting in a Scheme defiiit of f 39.8bn. A5 noted above the ￿herne 15 a pay a5 YOU 80 51hetne and there is no liabiliry on the School Dthpr than In respect of annual comntiibution5 at the Set employer rates. The employer (￿tribUtIon rate for the TPS is 28_6%. and employer5 are a150 ￿quired to pay a scheme administration levy ol 0.08% giving a total employer contribution rate of 28.68%. 22. TAXATION Richmond House School has charitable 51atU5 and its investfflent income and gain5 are exempt frorn corporation t3x by virtue of its provisions of section 505. Income and Corporation Taxe5 Act 1988 Furthermore. it Is considered that the trading activities of the Charity are carried out a5 the primary purpose of the Charity and accordingty, any element of the operating surplus aitribut8ble to such attivitie5 15 3150 exempt fr05n corporation tax under the provisions of tha¥ 5ecbon. 23. INDEMNttY INSURANCE The charity has purchased professional risks insurDnce to cover Govemors, liability and professional indemnity up to £l,000,O(M). Pa8e 32 This document was delivered using electronic communications and authenticated in accordance with thc rcgistrar's rulcs rclating to electronic fotm, authcntication and manner of delivery under section 1072 of the Companies Act 2006.