Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

Company Number 1686068 

## **BOOTHAM  SCHOOL** 

**A company limited by guarantee and a registered charity no. 513645** 

## **REPORT AND FINANCIAL STATEMENTS** 

**for the year ended 31 August 2025** 

**H P H Chartered Accountants 54 Bootham York YO30 7XZ** 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

|**CONTENTS**|**_page_**|
|---|---|
|Directors' and Trustees' Report (incorporating the Strategic Report)|_1 to 10_|
|Auditor's Report|_11 to 14_|
|Consolidated Statement of Financial Activities|_15_|
|Balance Sheets|_16_|
|Consolidated Cashflow Statement|_17_|
|Notes to the Financial Statements|_18 to 33_|





Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

## **1. INTRODUCTION** 

Bootham School was founded by Quakers in 1823. The School is a Company Limited by Guarantee (No: 1686068) and a Registered Charity (No: 513645). The Company has a wholly owned non-charitable subsidiary, Bootham School Estates Limited, whose activities and trading performance are covered elsewhere in this report. The members of the Company are also the Directors of the Company and the charity trustees. They act as the Governors of the School and together constitute the "Governors’ Meeting", which is the governing body of the School. All those listed below as Governors served as members of the Governors’ Meeting during the year or were serving members on the date of approval of the report and accounts. In their capacity as Directors and charity trustees, they present their annual report and audited accounts for the year ended 31 August 2025 and confirm they comply with the requirements of the Companies Act 2006, relevant Trust Deeds, the Charities Statement of Recommended Practice (“SORP (FRS102”) and Financial Reporting Standard 102. 

## **2. REFERENCE AND ADMINISTRATIVE DETAILS** 

**GOVERNORS REGISTERED OFFICE Clerk (chair) Treasurer** Bootham School Cathy Woodbine Juliette Healey 51 Bootham YORK YO30 7BU **ADVISERS Appointed by Quakers in Yorkshire** _Bankers_ Melissa Askew Co-operative Bank plc Peter Coltman (retired 31 December 2024) 8 Providence Street Dominic Fairbrass WAKEFIELD WF1 3BG Pippa Farrington Andrew Fisher Juliette Healey _Auditors_ Rachel Hicks Keith Knight (retired 31 December 2024) HPH Chartered Accountants Jon Lovett 54 Bootham Ed Potten YORK YO30 7XZ Graham Ralph Michael Sessions _Investment Managers_ Henrietta Stock Redmayne Bentley LLP Cathy Woodbine 9 Bond Court LEEDS LS1 2JZ **SENIOR MANAGEMENT** _Insurers_ **Head** Deneal Smith Ecclesiastical Insurance Office Plc Beaufort House **Head of** Helen Todd Brunswick Road **Bootham Junior** GLOUCESTER GL1 1JZ **School** _Insurance Brokers_ **Bursar** Gavin Blackstone DE Ford Insurance Brokers Poppleton Grange Low Poppleton Lane YORK YO26 6GZ 

1 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

The principal activity is the provision of education.  This is provided from two sites.  Premises in Clifton provide for pupils aged 2 to 11.  Premises in Bootham provide for pupils aged 11 to 18. 

## **3. STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The Governing Body of the School is its Governors’ Meeting. Governors are appointed by Quakers in Yorkshire, giving consideration to ensure that Quakers are strongly represented, the Governors include old scholars of the School and parents of children at the School. They are appointed to serve for terms of up to four years or such lesser terms set so as to achieve an appropriate rotation. Governors serve for a maximum of eight consecutive years except that a Governor appointed to serve as an officer may serve for twelve consecutive years. The officers - the Clerk (chair), Assistant Clerk and the Treasurer - are appointed by the Governors’ Meeting. Revised Articles of Association for the school were adopted on 1[st] December 2017. 

The Members of the Governors’ Meeting of Bootham School, as the Trustees of the Charity, are legally responsible for the overall direction and control of the School. All trustees give of their time freely and no remuneration was paid in the year. Expenses paid to governors were limited to travel costs or reimbursement of fees for attending training events and conferences. 

The Governors’ Meeting meets at least once in each school term. Three committees consider different aspects of the life and work of the School on a regular basis: Education; Pastoral, Boarding & Safeguarding; and Finance & Resources. The Finance and Resources Committee has some delegated powers to take decisions on behalf of the Governors’ Meeting. The other committees are advisory to the Governors’ Meeting. The committees meet at least once each term. A fourth committee, Governance and Compliance, provides oversight on regulatory issues. 

The day-to-day running of the School is delegated to the Head and the Head of Bootham Junior School, together with the Bursar and the Leadership Meeting (Senior Leadership Team). The Head and Bursar attend the Governors’ Meeting and other committees as of right. It is usual for the Senior Deputy Head and the Head of the Bootham Junior School to attend the Governors’ Meeting and they also attend meetings of other committees as appropriate. Other members of staff and students are regularly invited to meetings when relevant to discuss specific topics. The Head briefs staff on key issues emerging from the Governors’ Meeting. 

A Nominations Committee makes recommendations to Governors’ Meeting on the nomination of Governors for appointment by Quakers in Yorkshire and the appointment of Governors to serve on committees. In addition, individual Governors are appointed to serve: 

- as a Director of Bootham School Estates Limited, the trading subsidiary of Bootham School; 

- as a member of the School Health & Safety Group; 

- as the link with senior staff responsible for Safeguarding Children (including the policy on bullying). 

All Governors can attend meetings of committees of which they are not appointed members. In addition to visiting the School and joining in events, every Governor is asked to take a particular interest in, and maintain links with, one or more School departments providing education and/or support services. 

## **3.1. Statement of financial responsibilities of Governors** 

Company and Charity Law require the Directors and Trustees to prepare accounts for the financial year which give a true and fair view of the state of affairs of the Company, its subsidiary and its Trusts at the end of the year and of its financial activities for that period. In preparing those accounts the Directors and Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the accounts; and 

- prepare the accounts on a going concern basis unless it is inappropriate to assume that the Company will continue in operation. 

The Directors and Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the accounts comply with the Companies Act 2006 and applicable charity law. They are also responsible for safeguarding the assets of the Company by taking reasonable steps for the prevention and detection of fraud or other irregularities. 

In accordance with company law, as the company’s directors, we certify that: 

- so far as we are aware, there is no relevant information of which the company’s auditors are unaware; and 

- as the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the company’s auditors are aware of that information. 

2 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

## **STRATEGIC REPORT** 

## **4. OBJECTIVES AND ACTIVITIES** 

## **4.1. Charitable Objectives** 

The Company’s principal objective, as set out in its Articles of Association, is to carry on the operation of the School in accordance with the principles of the Religious Society of Friends for the education of the children of members of the Society of Friends and others. 

In accordance with its charitable objectives the Company must also manage and maintain the property of the School, including its buildings, land, artefacts, works of art, books, historical documents, furniture, equipment and other effects owned by or held on trust by the School. It also manages a number of Trusts and other funds to provide scholarships, bursaries, prizes and other financial support for pupils. 

Governors have had due regard to the guidance produced by the Charity Commission about Public Benefit. 

## **4.2. Aims and Values** 

## **Our Vision** 

The purpose of all aspects and facets of Bootham’s Quaker Education is to liberate and equip its young people to flourish as adults and live adventurous lives that will serve to create a better world. 

## **Our Values** 

At Bootham School we value particularly an approach to our community from all who work and learn here which: 

- looks for, responds to and works hard to draw out ‘that of God’ in others and in themselves 

- seeks to make a positive contribution to the Bootham community and shows respect for its Quaker values, practices and heritage 

- speaks with integrity of a straightforward, kind, caring and unquestioningly respectful approach to others 

- is wholehearted, demonstrating commitment both to being the best that they can be and to the hard work needed in rising to the challenge of high standards and high expectations 

- speaks truth, placing honesty in all things as a priority and is able to resolve conflict peacefully 

- is ambitious to improve the world for others - near and far - in whatever ways they can 

## **Our Aims** 

In pursuing our vision and in seeking to promote the purpose of a Bootham Education we set ourselves the following aims: 

- We aim to continue to grow and further develop a thriving community that reflects Quaker principles and practices, helping each individual to grow to recognise and develop ‘that of God’ in themselves and in other people 

- We aim to help all students to become the best person that each can be and to achieve the best of which each is capable 

- We aim to promote habits of hard work, self-regulation and the meeting of high standards of personal conduct in all aspects of work and relationships 

- We aim to develop our students into genuinely good people who are reflective, who seek truth and light, and whose lives speak with integrity of positive, pro-social values 

- We aim to promote kindness, a questioning spirit, humility, and a deep sense of social responsibility, as well as both the courage and confidence to speak up, and to work to build a better world 

- We aim, as staff, to model to our young people the qualities and values that we aspire for them to hold, and to do so with patience but in the expectation of high standards, seeking for - and helping them to seek for - ‘that of God’ within them 

- We aim, as an employer, to provide a stimulating, fair and supportive working environment in which all employees understand the role they play in building a better world and know that they are valued for playing it 

## **4.3. Objectives for the Year** 

Our vision is that we develop and offer a pioneering, distinctive and authentically Quaker education that liberates young people to live adventurous lives that serve to create a better world. Accordingly, we have developed a strategy that we believe will help us to achieve this vision. The strategy has three key objectives, which we continue to work towards and report on regularly to Governors. The key strategic objectives for the 5 year period 2024-29 are: 

3 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

## **Improving Teacher Efficacy** 

John Hattie’s meta-analysis identifies collective teacher efficacy as the most significant influence on student outcomes. We will be developing approaches to improving individual and collective teacher efficacy through: 

- Successful recruitment of teachers 

- Professional development of early-career teachers 

- Professional development of senior leaders and heads of department 

- Reskilling and upskilling of more experienced teachers 

- Closer intra- and inter-departmental co-operation 

- Increasing teachers’ sense of agency and willingness to take risks – ‘to teach adventurously’. 

- Taking advantage of the possibilities of Artificial Intelligence in education 

## **Confidence and Creativity** 

Developing academic, physical and social confidence is essential to the flourishing of our students both during their time at school and in preparing them for their lives and careers beyond their schooling. Human creativity is likely to be at a premium as AI increasingly impacts upon our lives, both in developing marketable skills and in developing passions that will be central to our wellbeing and humanity. The intersecting aspects of confidence and creativity are at the heart of any holistic programme of education. Within our strategy in this area we are focusing on: 

- Oracy and academic confidence 

- Problem solving & critical thinking 

- Independent opportunities for creativity 

- Opportunities for leadership 

- Sport & teamwork 

- Creativity for wellbeing 

- Development of the performing arts – participation and excellence 

- Links with city-wide and county-wide arts organisations, harnessing York’s status as a UNESCO City of Media Arts 

## **Sustainability and Community** 

Sustainability and community are two interlinked testimonies at the core of the Quaker ethos. Our strategy looks at sustainability in all its aspects – from the protection and nurturing of the environment to the sustainability of Bootham School itself and our ongoing involvement in our local community: 

- Green energy planning 

- Student-driven sustainability projects 

- Financial management to develop regular surplus to re-invest into the school 

- Wellbeing of all members of the community 

- Recruitment of students into boarding and day places 

- Sustaining our community – volunteering and peaceful activism 

## **5. ACHIEVEMENTS AND PERFORMANCE** 

## **Highlights of the Year** 

## _**Senior School**_ 

Bootham had an outstanding academic year 2024-25 with significant improvements in the GCSE and A-level results, which saw Bootham placed in the top 25% of schools on value-added measures for both qualifications. 

The curriculum for the first time included two new features: Let Your Life Speak (LYLS) for Year 10 and Service and Outreach (S&O) for Year 12. 

LYLS starts with lectures relating to Quaker history and ethos (including the ethical capitalism of The Rowntrees in York and the Quaker Business Method) alongside examples of social and charitable endeavours of Quakers in the 19[th] and 20[th] centuries. Students then have introductory courses in Politics, Psychology and Economics & Business that prepare them for the production of an independent report and presentation on a linked theme. 

S&O demands of every A-level student a commitment to a placement in a primary school, charity or equivalent setting in which for one afternoon every week they provide a service to the community. This programme has proved popular with students – the ‘highlight of the week’ for some – and serves as a step towards the world of work. 

4 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

In February 2025 the school was inspected by the Independent School’s Inspectorate and we were delighted to report that all the inspection standards were comfortably met. Many areas of strength emerged during the inspection across a wide range of aspects of the school, from early years and boarding to the overall impact of the Quaker ethos. The inspection team reported that pupils, including children in early years, achieve well at each stage of their education and that there is a respectful and inclusive culture, based on Quaker values which results in positive social interactions among all members in the community. 

The school year included a necessary focus from leadership and Governors on the implications of the new Labour government’s policies towards independent schools. Parents were understandably anxious about the impact of VAT on fees and careful decisions were required to mitigate the impact for our families. The School communicated its approach to the impending taxdriven fee rises to its families, who appreciated the clear and consistent stance. We also invited our local MP, Rachel Maskell, into school who spoke to parents and took their questions and sentiments back to the responsible ministers. The Government’s budget further exacerbated financial pressures through the removal of business rate relief and increased employer contributions to national insurance. In combating these financial pressures, we worked hard to ensure the quality of our outstanding education was not affected and, in response, parents have been very supportive of the school. Our focus and drive is delivering a more efficient education while continuing to raise standards. 

Beyond the classroom, there have been many memorable highlights in particular the school production of Fame was an absolute triumph and marked a huge team effort from teachers and students alike. For the first time in many years this production was just for older students and the show gave an opportunity for several individuals to showcase their singing talents, as well as an ensemble who were heavily involved in several singing and dancing numbers. Younger students were equally successful in their musical interpretation of Peter Pan which performed to sold out audiences. Scholars concerts throughout the year showed how much individual talent we have in the school. 

Our sports teams have continued to thrive throughout the year with increased participation in team sports across both boys and girls. Our sports department provides a steady sequence of competitive outlets for our students. In addition to the usual full set of external and inter-house fixtures, we have also enjoyed success regionally. Swimming continues to be a successful growth area and a Bootham team was invited to the World School Swimming Games at the Olympic Pool in London. 25 students participated and the squad racked up a series of personal bests and medals. 

Whilst competitive sport is an important element of our work, students keeping healthy, fit and having an active lifestyle in as many ways as possible is the PE departments’ main aim. The high attendance levels on Saturday afternoons demonstrates that many of our students have a love of physical activity and see the value in building exercise into their busy lives. We are always looking for new ways of developing and motivating our students into various sports and activities. 

Our Family Days on Saturdays have continued to thrive, providing a wonderful opportunity for the whole community to gather, and are acknowledged to be one of many things that makes Bootham a special place. Parents may choose to start the mornings with “Reflect 30”, a short gathering where we have a chance to take some time in Quaker silent prayer in the School Hall. This is followed by an engaging programme of lectures. We have also introduced a series of Jeremy Heywood lectures in honour of Jeremy, a former Bootham student rose to become Cabinet Secretary and Head of the Civil Service, serving with two Chancellors and five Prime Ministers. These have proved hugely popular and included a fascinating talk from Suzanne Heywood, Jeremy’s widow, who is a business executive and author. 

## _**Junior School**_ 

The 2024–2025 academic year has been exceptionally busy and successful for the Junior School. Following a successful inspection, a central strategic aim has been to continue enhancing participation and achievement in all areas of school life. 

In sport, across Years 3 to 6, pupils participated in 124 fixtures, securing 65 wins, 8 draws, and 49 losses. Importantly, every child represented the school in five or more fixtures during the year. 

Swimming has continued to be an area of particular distinction. Bootham was recognised as the best small school in the United Kingdom, following exceptional performances at both regional and national levels. The school were crowned English Schools’ National Freestyle Relay Champions and finished second in the medley relay. The U11 girls’ team were crowned IAPS National Small Schools Champions, while the boys’ team finished runners-up. One pupil achieved the title of U11 National 50m Backstroke Champion, and another placed 16th nationally in the 50m freestyle. Three Year 6 pupils represented Bootham at the World Schools Swimming Championships in London, collectively winning three silver medals and one bronze. Overall, the school now has nine county-level and two regional-level swimmers, a remarkable accomplishment for a school of this size. 

Success has also been evident across other sporting disciplines. Bootham pupils achieved HMC titles in the U11 800m and U10 80m events, with further strong performances across football, netball, cricket, athletics, and fencing. Ten pupils were awarded bronze medals in the British Academy of Fencing Foil competition, and the Capoeira club continues to grow, with 14 pupils progressing through the belt system. 

5 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

Beyond sport, pupils continue to demonstrate an exceptional commitment to music and the performing arts. Eighty-seven percent of pupils in Years 2–6 either receive individual music tuition, participate in ensembles, or both. Fourteen pupils took ABRSM examinations this year, all achieving a 100% pass rate, equally divided between merit and distinction. Choir members have performed for local residents and care homes, while two pupils were awarded music scholarships to the Senior School and one achieved an external choral scholarship. 41 pupils participated in the Young Voices concert. 

The London Academy of Music and Dramatic Arts (LAMDA) results were again excellent, with a 100% pass rate at either merit or distinction level. 

Academic achievement has remained strong across the curriculum. One pupil was shortlisted for the Wicked Writers Award, resulting in their essay being published in the 2025 anthology. Year 5 pupils collaborated with author Elizabeth Green to write a sequel to The Owl Who Could Only Growl, scheduled for publication next year. In STEM, Bootham pupils performed impressively in the Bebras Computational Thinking Challenge, achieving six distinctions and five merits. Three pupils were ‘distinction shortlisted’ for the Primary Engineering Awards, with another achieving a regional win and having their work displayed at a local university. 

The school’s ECO Stewards continue to play an active role in promoting environmental awareness and sustainability initiatives, including Switch Off Fortnight, litter picking and recycling projects. They also collaborated with Senior School BEAST members to decorate a Christmas tree for York Minster using natural and recycled materials. 

The Junior School community has once again shown great generosity and social responsibility, raising over £5,500 through pupil-led events such as concerts and fairs. Funds supported both national initiatives, including Children in Need, and charities chosen by the pupils themselves, such as the Dragonfly Schools Foundation, School in a Bag, and the Rainforest Climate Action Fund. 

During the year, as part of our activity program, Junior school pupils from Year One to Six took part in a weekly intergenerational project with a local care home. Each week, a group of children enjoyed meeting and building relationships with the residents. Activities have included, crafts, baking, physical games and jigsaws. 

During the summer term, we again hosted York Neighbours for afternoon tea. Reception children joined sixth form students in the junior school hall for tea, cakes and reminiscing about seaside trips. It was rounded off with a performance from Year 5 singing songs from their upcoming school play. 

With more than 70 co-curricular activities available to pupils each week and continued collaboration with the Senior School, Bootham Junior School has enjoyed another year of exceptional achievement, creativity, and community spirit. 

## **5.1 Academic Performance** 

Both GCSE and A-level results showed marked upticks in 2025 with the core measures of percentage A*-B and 9-7 up by 6.8% and 5.2% respectively, the best results since the last Covid-affected results, and outperforming the years prior to Covid. At A- level the overall number of A* grades saw an even more significant uplift. 

_Table 1: Advanced Level results_ 

|_Year_|_No of_<br>_Pupils_|_Passes A*-E_|_A*_|_A_|_B_|_C_|_D_|_E_|_A*-B as % of entries_|
|---|---|---|---|---|---|---|---|---|---|
|2022*|61|188(3.32 av)|45|61|38|20|18|6|75.0|
|2023|73|234(3.36 av)|26|64|78|40|19|7|71.8|
|2024|78|245(3.27 av)|29|66|70|44|24|12|65.7|
|2025|81|254(3.28 av)|54|63|68|43|19|7|72.5|



_Table 2: GCSE results_ 

|Year|No of<br>Pupils|Passes A*-C or 9-4|A* or 9/8|A or 7|B or 6|C or 5/4|_9-7 or A*-B_<br>_as % of entries_|
|---|---|---|---|---|---|---|---|
|2022*|63|569(9.08 av)|236|104|97|132|56.1|
|2023|79|720(9.11 av)|265|141|140|174|52.3|
|2024|75|701(9.35 av)|224|162|155|160|52.5|
|2025|71|624(8.79 av)|252|134|122|116|58.7|



***2020-2022 results were inflated nationally due to Covid measures.** 

6 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

**Students leaving after A-levels are going on to a diverse range of university destinations and courses, with four students going to Oxford / Cambridge and others achieving the grades for competitive courses such as medicine and dentistry ast other universities. Overall,** 

- 54 started at a UK university in Autumn 2025 

- 10 are taking a GAP year and already have a university place for 2026 

- 4 started an Art Foundation course in Autumn 2025 

- 3 are studying overseas 

- 10 are taking a GAP year with post GAP year plans to be determined during GAP year 

## **6. FINANCIAL REVIEW** 

The consolidated financial statements include the results of the School, Bootham School Estates Limited (BSEL) and various linked charities and funds (see notes 15 and 16). 

The School’s operating finances faced significant challenges with the imposition of VAT from January 2025, along with the removal of business rate relief and significant increases to payroll costs from April 2025. Inflation remained stubborn throughout the year which impacted essential services, utilities, food provisions and maintenance costs. 

The School introduced mitigating action plans to reduce the operational cost base through a number of efficiency savings that were identified in order to not have a detrimental impact on the delivery of outstanding education. Through careful financial planning and management, the school has delivered these savings plans which resulted in a modest operating deficit. 

Consolidated incoming resources for the year amounted to £12,408,848. Consolidated resources expended, decreased to £12,457,174. 

Capital expenditure, mainly related to improvements to teaching classrooms and pastoral areas in the existing buildings and facilities. Total expenditure amounted to £311,941 (2024: £553,845). 

Consolidated Unrestricted Funds at the year end stood at £10,865,699. These funds included the Designated Fixed Assets Fund of £13,524,047 and a deficit of £2,668,482 on the Charitable Free Reserves. This deficit has arisen due to capital expenditure on improvements to the School buildings and will be eliminated gradually in the foreseeable future by disposals of assets in excess of operational requirements and by operating surpluses. This year has seen an increase in the free reserves deficit of £36,802. 

Whilst the school is successfully mitigating the adverse impact of the fiscal changes introduced by the present Government, it is a time of heightened uncertainty within the UK economy. Against this backdrop, the Governors Meeting continues to monitor and review strategies to mitigate the impact of a potentially deteriorating environment through a strong focus on medium term planning to secure the financial resilience of the school and the best possible outcome for its pupils, staff and stakeholders. 

## **6.1 Remuneration of Staff** 

The School aims to pay salaries which are fair, competitive with the charity sector and proportionate to the complexity of each role. In determining the right level of pay for the School: 

- Has an established pay policy and pay scale 

- Has detailed job descriptions and person specifications for each role 

- Has a professional development review process 

- Appoints new staff to a point on the pay scale, usually within a range between 3 and 5 points, dependent on experience and qualifications 

The Bursar and the Head’s salaries are benchmarked frequently and their salaries are determined by the School Governors. 

## **6.2. Reserves policy** 

It is the policy of the Governors’ Meeting to seek to generate a modest surplus of income over expenditure each year to safeguard the future of the School and to provide funds for improvement of School properties. The level of the School reserves is reviewed regularly to ensure that they fall in line with the School’s budgetary requirements. 

Note 18 to the accounts shows the assets and liabilities attributable to the various funds by type, and notes 15, 16 and 17 describe the various funds of the Charity and summarise the year’s movements on each fund. 

7 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

## **6.3. Investment policy, objectives and performance** 

The Trustees’ investment powers are governed by the Memorandum and Articles of Association, together with the Trustee Act 2000. The Trustees seek to follow an ethical investment policy, in line with the policies of Quakers. During the year there was significant global market volatility stemming from geopolitical trade policy decisions. The governors reviewed the schools risk appetite and exposure and chose to liquidate the investments being managed by Redmayne Bentley and instead invest in the CCLA’s Deposit Fund account on a short-term basis until a more suitable investment vehicle is chosen. 

The CCLA Deposit Fund is a diversified portfolio of sterling denominated money-market deposits and other instruments. It principally invests in call accounts, term deposits, and money market-instruments, but will also invest in other assets in pursuit of the investment objective. The CCLA Deposit Fund is aligned to the school’s ethical policy and will provide a low risk return in the short-term. 

Details of the movements in the School’s investments are given in note 7 to the accounts. 

## **Bootham School Investment Fund** 

When this fund was established in April 2011, the Trustees decided that capital growth was paramount and that any income would be reinvested. The investment Fund increased in value by 2.27% over the 12 month period, a movement of £1,962. 

## **Bootham School Trust Fund** 

When this fund was established, it was agreed by the Trustees that the fund would be used primarily to generate income for bursaries and scholarships whilst also having some growth in the capital as a protection against inflation. Investment returns continued to be reinvested this year to maintain capital appreciation. There was £600,000 of investment Fund portfolio cash held within the school’s current bank account which was deposited into the CCLA fund immediately after the balance sheet date. When taking this into account, the value of the fund had increased by 0.69%, a movement of £7,529. 

## **6.4. Fundraising** 

The Marketing and Fundraising Committee reports to the Finance and Resources Committee.  The committee consists of governors, plus co-opted members as appropriate. The committee oversees fundraising activity and monitors activity to ensure fundraising is respectful to members of our community. The total raised from Fundraising activities in the year was £397,384. 

During the year the School recruited a Director of Development who will work alongside our Director of Alumni Relations. Their role will be to work with the extended Bootham community to raise funds which will be primarily used to support transformational bursaries, to ensure deserving children have equal access to all that Bootham offers. 

We hold a range of events for Old Scholars and friends of the school including annual reunions and dinners and all subscribers receive regular newsletters and an annually published school magazine. Most of the kind donations that we receive are as a result of this ongoing communication and meetings with the school’s fundraising staff. We have also continued with a campaign during the reporting year to raise awareness of legacy donations and regular giving in support of bursary funds. The school held another ‘Giving Day’ in March 2025 to continue to support development work across the school. 

The school is voluntarily subject to the Fundraising Regulator and subscribes to the Code of Fundraising Practice. We are unaware of any occasion in the reporting period upon which we have failed to comply with the Code, nor has the school received any complaints about our fundraising activities. We take great care to not exert pressure on any individual and any material sent out is not persistently repeated in an intrusive manner. 

## **7. PUBLIC BENEFIT** 

## **Bursary support** 

Means-tested bursaries amounting to £737,885 were paid during the year. As a percentage of net fee income this amounts to 6.43% (2024: £633,877 or 5.38%). Governors are hoping to maintain this percentage at not less than 5% in future years. Seven students were in receipt of 100% fee remission. 

## **York ISSP** 

Bootham continued to be invaluable to the York Independent State School Partnership which comprises 13 secondary schools in York including independent schools, state and academies. During this year ISSP has provided many opportunities for able and interested students including: 

- The annual flagship masterclass programme for years 7 to 11. Bootham provided a venue, teaching staff and organisational support. 

- GCSE Latin and GCSE Astronomy was taught to state and independent school students and Bootham supplied the venue and teachers for the groups. 

- The York Mathematical Excellence Club (y=mx+c) is run by a member of the Bootham Maths department for 45 very able mathematicians from across the city. They are assisted by Maths undergraduates from the University of York creating excellent cross-phase links.   Bootham staff were active members of the ISSP Heads’ Steering Group and the Operational Steering Group, 

8 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

- A summer school was held and four Bootham Staff taught sessions for the week. 

- Bootham provided technical expertise for online lectures and ran the online platform that supports online learning for all the ISSP events 

- Bootham provided a venue and logistical support to the Business and Enterprise event in conjunction with the Merchant Adventurers. 

- Bootham gives the services of its Finance Officer to the ISSP, handles the financial transactions and provides other administrative help to the working of the Partnership 

## **Community Use of Resources** 

Bootham is committed to providing community use of resources and has welcomed the following activities during the year: 

Bootham allows the use of its rooms without charge for regular meetings of the local Historical Association and Geographical Association, which included attendance by members of the public and students from other schools across the City. 

Bootham makes its facilities available to local schools: not only do our sports teams play fixtures with local state schools, and participate in local leagues, but our swimming pool is used by a local primary school in the summer term, and is let out to a community swimming club every evening and at weekends. We hosted a number of football tournaments for local schools in the past 12 months. 

We continue to run our weekly public programme of concerts, talks and recitals in our ‘Recital Room’ series. These are free, lunch-time events open to members of the public, in the School’s recently-restored Georgian music room. 

The Georgian Society, the Civic Trust and the York and District Organists Association hold meetings in the School and the School hosts cultural tours round its premises for the Civic Trust, for architecture students at the University of York, and for overseas students on an MA programme at the University of York Department of Education. 

Members of staff volunteer as members of the Hull/York Medical School admissions/selection team, the Advisory Board of the University of York, Department of Psychology, and as part of the tutorial team for the University of York, Department of Education. Several members of staff work as markers for GCSE and A Level exam boards, bringing a high level of classroom experience and subject expertise to that task. 

Bootham students volunteer in the local community, helping with pupils’ reading at local primary schools, visiting residential care homes, and the neighbouring centre for the homeless, undertaking horticultural and agricultural work at the local environmental centre, and supporting the local Oxfam shop. 

Bootham regularly invites our neighbours from Wandesford House (an Almshouse for single ladies over 55) to join our sixth formers for lunch. 

At the Junior School, Inspire Challenge Enrich workshops, held each term, are open to children aged 5-11 from primary schools across York and the surrounding area. These workshops have involved specialist staff from the Junior and Senior Schools leading masterclasses in areas of specific interests focusing on either STEM or Arts subjects. 

## **Social Action, Charity Work and Volunteering** 

## **Charity** 

Bootham’s charitable work has thrived this year, with tutor groups fundraising for chosen causes through the Charity Catalogue. Highlights include 13EJG raising £400 for IDAS, and individual efforts such as Matthew Jamieson’s £200 for St John Ambulance and Tilly Potten’s £500 for Macmillan Cancer Support. The Interval Café also raised nearly £400 for Accessible Arts during the Senior Musical, showcasing students’ creativity and community spirit. 

## **Volunteering** 

Our new College 1 Volunteering Programme saw students spend three hours each week helping in schools, care homes, and charities across York, gaining valuable experience and insight. The York Neighbours Tea events also returned, with student volunteers hosting and entertaining guests in a warm and joyful atmosphere, strengthening intergenerational connections. 

## **Environmental Work** 

Bootham was named _Independent School of the Year for Environmental Achievement_ , celebrating our continued commitment to sustainability. The BEAST team expanded recycling, relaunched _Bikes in Need_ with Recycle York CIC, and partnered with York Council to restore the Bootham Rest Gardens into a thriving biodiversity space. 

## **Citizenship** 

The _Let Your Life Speak_ programme encouraged active citizenship through campaigns on homelessness, climate justice and education. Students heard from organisations such as Oxfam and Quakers for Climate Justice and presented their own projects at Parents’ Day. Yuliia Sych’s _Unissued Diplomas_ exhibition and Lucia Fry’s visit from the Malala Fund further inspired empathy and global awareness. 

9 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL ANNUAL REPORT OF THE GOVERNORS OF BOOTHAM SCHOOL FOR THE YEAR ENDED 31 AUGUST 2025** 

## **8. PRINCIPAL RISKS AND UNCERTAINTIES** 

During the year Leadership Meeting, on behalf of the Governors, have examined the principal areas of the School’s operations and considered the major risks in each of these areas. In the opinion of the Governors the School has established systems which, under normal circumstances, should allow these risks to be managed to an acceptable level in its day to day operation. A comprehensive Risk Register is scrutinized each year by the Governance and Compliance Committee and reviewed by the Governors’ Meeting to ensure mitigation measures necessary to minimise or control risks to an acceptable level are in place. 

## **9. PLANS FOR FUTURE PERIODS / KEY RISK CONTROLS** 

The Governors continue to keep Bootham School’s activities under review, particularly with regard to any major risks that may arise from time to time, and to monitor the effectiveness of the system of internal controls and other viable means, including insurance cover where appropriate, by which those risks identified by the Governors can best be managed and mitigated. 

The key controls used by Bootham School include: 

- Formal agendas for all Committee activity 

- Detailed terms of reference 

- Comprehensive strategic planning, budgeting and management accounting 

- Established organisational structure and lines of reporting 

- Formal written policies 

- Clear authorisation and approval levels, and 

- Vetting procedures as required by law for the safeguarding of students 

- Staff safe recruitment processes 

- A Compliance Committee undertaking termly reviews of key areas of regulatory compliance including safeguarding, health and safety, public benefit and relevant legislations. 

Health and Safety issues are considered at regular meetings of the School Health & Safety Committee, attended by two Governors. 

## **10. STATEMENT OF DIRECTORS’ AND TRUSTEES’ RESPONSIBILITIES** 

Company and charity law requires the Directors and Trustees respectively to prepare financial statements for each financial year which give a true and fair view of the charitable company’s state of affairs at the end of year and its financial activities for that year. 

In preparing the accounts the Directors and Trustees follow best practice and: 

- select suitable accounting policies and apply them consistently, 

- make judgements and estimates that are reasonable and prudent, 

- follow applicable accounting standards and the Charities SORP disclosing and explaining any departures in the accounts, and 

- prepare the accounts on a going-concern basis unless it is inappropriate to presume that the school will continue in operation. 

The Directors and Trustees are responsible for keeping accounting records which are such as to disclose, with reasonable accuracy, the financial position of the School at any time, and to enable them to ensure that the accounts comply with charity law. They are also responsible for safeguarding the School’s assets and ensuring their proper application in accordance with charity law and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities. 

In so far as the Directors and Trustees are aware: 

- There is no relevant information of which the School’s auditor is unaware, and 

- The Directors and Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 

Approved by Governors on 7 December 2025 and signed on their behalf by: 


Melissa Askew _Clerk to the Governors’ Meeting_ 

10 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

**HPH** 

## **Chartered Accountants** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF** 

## **BOOTHAM SCHOOL** 

## **OPINION** 

We have audited the financial statements of Bootham School (the 'parent charitable company') and its subsidiaries (the ‘group’) for the year ended 31 August 2025, which comprise the Consolidated Statement of Financial Activities and Income and Expenditure Account, the Consolidated Balance Sheet, the Consolidated Cash Flow Statement and the related notes, including significant accounting policies. 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). 

In our opinion the financial statements: 

- give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 August 2025 and of the group’s incoming resources and application of resources for the year then ended; 

- • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other 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 trustees’/director'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 significant 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 directors with respect to going concern are described in the relevant sections of this report. 

11 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

**HPH** 

## **Chartered Accountants** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF** 

## **BOOTHAM SCHOOL** 

## **OTHER INFORMATION** 

The trustees/directors are responsible for the other information contained within the annual report. The other information comprises the information included in the Annual 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. 

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 this gives rise to a material misstatement in the financial statements themselves. 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. 

## **OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006** 

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

- the information given in the Trustees' report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included within the Trustees' report has been prepared in accordance with applicable legal requirements. 

## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION** 

In the light of the 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 Trustees' 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: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of directors' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the directors report and from the requirement to prepare a strategic report. 

## **RESPONSIBILITIES OF DIRECTORS** 

As explained more fully in the Trustees' responsibilities statement on page 2, the trustees 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 trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

12 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **HPH** 

## **Chartered Accountants** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF** 

## **BOOTHAM SCHOOL** 

## **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. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were The Education (Independent Schools Standards) Regulations 2014, Food Hygiene regulations, Health and Safety legislation, Employment legislation, Charity Commission regulations and General Data Protection Regulation (GDPR). 

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. 

We also considered the opportunities and incentives that may exist within the charitable company for fraud. 

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management, income recognition, going concern and the treatment of VAT. Our audit procedures to respond to these risks included sample testing on the posting of journals, detailed substantive testing on the completeness of income, reading minutes of meetings of those charged with governance, sample testing of deferred income, review of budgets and detailed testing on the posting and calculation of VAT transactions. 

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.  We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations. We are not responsible for preventing fraud and cannot be expected to detect all fraud. 

13 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

**HPH** 

## **Chartered Accountants** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF** 

## **BOOTHAM SCHOOL** 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report. 

## **USE OF OUR REPORT** 

This report is made solely to the charitable company's members 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 Auditor's report and for 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 for our audit work, for this report, or for the opinions we have formed. 

...................................... 

Sarah Wearing (Senior Statutory Auditor) 

For and on behalf of HPH, Statutory Auditor 

54 Bootham York YO30 7XZ 

7 January 2026 

14 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025** 

|**Note**<br>**Income and endowments from:**<br>**Charitable activities**<br>School fees receivable<br>2<br>Ancillary trading income<br>3<br>**Other trading activities**<br>Non-ancillary trading income<br>23<br>**Investments**<br>Investment income<br>7<br>**Voluntary sources**<br>Donations<br>**Total**<br>**Expenditure on:**<br>**Raising funds**<br>Non-ancillary trading<br>23<br>Financing costs<br>**Total deductible costs**<br>**Charitable Activities**<br>Education and grant making<br>**Total**<br>4<br>**Net (expenditure)/income and net**<br>**movement in funds before**<br>**(losses)/gains on investments**<br>(Losses)/gains on investments<br>**Net (expenditure)/income**<br>Transfers between funds<br>16,17<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>15,16,17|**Unrestricted**<br>**Funds**<br>**£**<br>11,479,855<br>328,148<br>120,495<br>41,682<br>101,842|**Endowed**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>4,414<br>-|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>36,870<br>295,542|**2025**<br>**£**<br>**11,479,855**<br>**328,148**<br>**120,495**<br>**82,966**<br>**397,384**<br>**£ 12,408,848**<br>**60,059**<br>**129,738**<br>**189,797**<br>**12,267,377**<br>**£ 12,457,174**<br>**(48,326)**<br>**(14,442)**<br>(62,768)<br>**-**<br>(62,768)<br>**12,699,238**<br>**£ 12,636,470**|**2024**<br>**£**<br>11,800,840<br>351,179<br>137,562<br>43,477<br>382,472|
|---|---|---|---|---|---|
||**£ 12,072,022**|**£ 4,414**|**£ 332,412**||£ 12,715,530|
||60,059<br>129,738|-<br>-|-<br>-||59,074<br>179,698|
||189,797<br>12,221,514|-<br>4,217|-<br>41,646||238,772<br>12,282,121|
||**£ 12,411,311**|**£ 4,217**|**£ 41,646**||£ 12,520,893|
||(339,289)<br>-|197<br>(1,850)|290,766<br>(12,592)||194,637<br>68,199|
||(339,289)<br>2,729|(1,653)<br>(2,729)|278,174<br>-||262,836<br>-|
||(336,560)<br>11,202,259|(4,382)<br>629,279|278,174<br>867,700||262,836<br>12,436,402|
||**£ 10,865,699**|**£ 624,897**|**£ 1,145,874**||£ 12,699,238|



_The notes on pages 18 to 33 form part of these financial statements_ 

_Incoming resources and net movement in funds derive wholly from continuing operations_ 

15 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL BALANCE SHEET AS AT 31 AUGUST 2025** 

Company number: 1686068 

|**Note**<br>**FIXED ASSETS**<br>Tangible assets<br>_6_<br>Investments<br>_7_<br>**CURRENT ASSETS**<br>Stocks<br>_8_<br>Debtors<br>_9_<br>Cash at bank and in hand<br>_10_<br>**CREDITORS: amounts falling due**<br>**within one year**<br>_11_<br>**NET CURRENT LIABILITIES**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**CREDITORS: amounts falling due**<br>_12_<br>**after one year**<br>Provision for liabilities and charges<br>_13_<br>**TOTAL NET ASSETS**<br>**REPRESENTED BY**<br>Restricted funds<br>_15_<br>Endowed funds<br>_16_<br>Unrestricted funds<br>_17_|**2025**<br>**2024**<br>**£**<br>**£**<br>**14,719,811**<br>15,257,486<br>**634,447**<br>1,173,563<br>**15,354,258**<br>16,431,049<br>**40,898**<br>47,981<br>**1,490,502**<br>1,039,758<br>**845,590**<br>2,283,908<br>**2,376,990**<br>3,371,647<br>**(2,893,084)**<br>(4,188,842)<br>**(516,094)**<br>(817,195)<br>**14,838,164**<br>15,613,854<br>**(924,306)**<br>(1,139,366)<br>**(1,277,388)**<br>(1,775,250)<br>**£ 12,636,470**<br>£ 12,699,238<br>**1,145,874**<br>867,700<br>**624,897**<br>629,279<br>**10,865,699**<br>11,202,259<br>**£ 12,636,470**<br>£ 12,699,238<br>**Consolidated**|**2025**<br>**2024**<br>**£**<br>**£**<br>**14,719,811**<br>15,257,486<br>**581,883**<br>1,118,796<br>**15,301,694**<br>16,376,282<br>**40,898**<br>47,981<br>**1,538,735**<br>1,006,251<br>**750,234**<br>2,267,541<br>**2,329,867**<br>3,321,773<br>**(2,869,188)**<br>(4,160,510)<br>**(539,321)**<br>(838,737)<br>**14,762,373**<br>15,537,545<br>**(1,063,977)**<br>(1,279,037)<br>**(1,277,388)**<br>(1,775,250)<br>**£ 12,421,008**<br>£ 12,483,258<br>**1,132,103**<br>867,700<br>**555,776**<br>563,114<br>**10,733,129**<br>11,052,444<br>**£ 12,421,008**<br>£ 12,483,258<br>**School**|**2025**<br>**2024**<br>**£**<br>**£**<br>**14,719,811**<br>15,257,486<br>**581,883**<br>1,118,796<br>**15,301,694**<br>16,376,282<br>**40,898**<br>47,981<br>**1,538,735**<br>1,006,251<br>**750,234**<br>2,267,541<br>**2,329,867**<br>3,321,773<br>**(2,869,188)**<br>(4,160,510)<br>**(539,321)**<br>(838,737)<br>**14,762,373**<br>15,537,545<br>**(1,063,977)**<br>(1,279,037)<br>**(1,277,388)**<br>(1,775,250)<br>**£ 12,421,008**<br>£ 12,483,258<br>**1,132,103**<br>867,700<br>**555,776**<br>563,114<br>**10,733,129**<br>11,052,444<br>**£ 12,421,008**<br>£ 12,483,258<br>**School**|
|---|---|---|---|
||||16,376,282|
||||47,981<br>1,006,251<br>2,267,541|
||||3,321,773<br>(4,160,510)|
||||(838,737)|
||||15,537,545<br>(1,279,037)<br>(1,775,250)|
||||£ 12,483,258|
||||867,700<br>563,114<br>11,052,444|
||||£ 12,483,258|



The notes on pages 18 to 33 form part of these financial statements 

Approved by the General Committee on 7 December 2025 and signed on its behalf by: 


Andrew Fisher _Director and Trustee_ 

16 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL CONSOLIDATED CASHFLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025** 

|**Note**<br>**Cash flows from operating activities:**<br>**Net cash provided by operating activities**<br>22<br>**Cash flows from investing activities:**<br>Dividends, interest and rents from investments<br>Proceeds from the sale of property, plant and equipment<br>Purchase of property, plant and equipment<br>Proceeds from sales of investments<br>Purchase of investments<br>**Net cash provided by/(used in) investing activities**<br>**Cash flows from financing activities:**<br>Repayments of borrowing<br>Interest paid<br>Receipts from new composition fee contracts<br>Compositon fees utilised and repaid<br>Movement in fees received in advance<br>**Net cash (used in)/provided by financing activities**<br>**Change in cash and cash equivalents in the**<br>**reporting period**<br>**Cash and cash equivalents at the beginning of**<br>**the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|**2025**<br>**£**<br>465,198<br>82,966<br>-<br>(307,755)<br>1,961,804<br>(1,437,130)<br>299,885<br>(237,917)<br>(67,928)<br>510,815<br>(1,008,677)<br>(1,399,694)<br>(2,203,401)<br>(1,438,318)<br>2,283,908<br>845,590|**2024**<br>**£**<br>477,234<br>43,477<br>2,400<br>(571,062)<br>242,903<br>(232,909)|
|---|---|---|
|||(515,191)<br>(192,087)<br>(97,843)<br>1,281,285<br>(1,066,386)<br>1,344,361|
|||1,269,330<br>1,231,373<br>1,052,535|
|||2,283,908|



_The notes on pages 18 to 33 form part of these financial statements_ 

17 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **1. ACCOUNTING POLICIES** 

## **Legal entity** 

Bootham School is regulated by the Charities Commission (513645), limited by guarantee and is registered in England and Wales. The address of the registered office and principal place of business is Bootham School, 51 Bootham, York, YO30 7BU. 

The School constitutes a public benefit entity as defined by FRS 102. 

## **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 and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The consolidated financial statements include the results of Bootham School, Bootham School Estates Limited, Bootham School Investment Trust, Bootham School Academic Prize Fund and The Alexander Educational Trust. In accordance with section 408 of the Companies Act 2006, no separate Statement of Financial Activities (SOFA) has been presented for the Charitable Company alone. 

The "School" figures shown in the financial statements represent Bootham and Bootham Junior Schools. 

The accounts are presented in UK Sterling pounds (£). 

## **Going concern** 

The Governors have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. They have a reasonable expectation that adequate financial resources are available to enable the School to continue in operational existence for the foreseeable future, and have adequate contingency plans in the event that income streams are reduced. Consequently the financial statements have been prepared on the basis that the School is a going concern. 

## **Tangible fixed assets** 

Generally, only the costs of acquiring major items of furniture and equipment are capitalised. The replacement of existing items and those of smaller value are written off in the year of acquisition. 

Tangible fixed assets are depreciated over their expected useful lives at the following annual rates: 

Land and buildings 2% straight line Furniture, fixtures and fittings 20% straight line Maintenance equipment 5% straight line IT equipment over 3 years Motor vehicles 20% straight line 

## **Stocks** 

Stocks are stated at the lower of cost and net realisable value. 

## **Fixed asset investments** 

Quoted investments are included at closing mid-market value at the balance sheet date. Unquoted investments are stated at cost less any permanent diminution in the value. Any gain or loss on revaluation is taken to the SOFA. Investment income is accounted for in the period in which the School is entitled to receipt. 

## **Funds Structure** 

Unrestricted Funds are funds which as such are available for use or retention at the discretion of the Trustees, in accordance with the Charity's objects. Designated Funds represent the written down value of the tangible fixed assets less the loans outstanding on those assets. The free reserves are retained to provide working capital. Details of Restricted Funds and Endowed funds are contained in Notes 15 and 16. 

## **Composition fees** 

Composition fees relate to fees paid in advance for more than one term at a discount. Income accrued from holding these fees is allocated across the various balances, and surpluses on individual contracts are retained to offset against any future losses. 

## **Fees and other income** 

Fees receivable, charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the School, but include contributions received from restricted funds for scholarships, bursaries and other grants. Fees received in advance of education to be provided in future years under an advance fee payment scheme are held as interest-bearing liabilities until either taken to income in the term when used or else refunded. 

Incoming resources from endowment funds are restricted to the purpose of the fund, as described in the notes. 

18 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **ACCOUNTING POLICIES (continued)** 

## **Resources expended** 

Expenditure is accounted for on an accruals basis. Overheads and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff time or space occupied, as appropriate. The irrecoverable element of VAT is included with the item of expense to which it relates. 

Governance costs comprise the costs of running the Charity, including strategic planning for its future development, also external audit, any legal advice for the Charity's Governors, and all the costs of complying with constitutional and statutory requirements, such as the costs of board meetings and preparing statutory accounts and satisfying public accountability. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and any short term deposit accounts with a maturity of three months or less from the date of opening. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting 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 normally recognised at their settlement amount after allowing for any trade discounts due. 

Where the School has received tuition fees in advance the amount is treated as deferred income until the pupil joins the School whereupon the fees for each school term are charged against the remaining balance and taken into income. Any shortfall is treated as a deduction from school fee income and any excess accrued is treated as additional school income. 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **Operating Leases** 

Rentals paid under operating leases are charged in the SOFA on a straight line basis over the lease term. 

## **Pension Schemes** 

The School operates the following pension schemes for staff: 

## Defined benefits scheme (Teachers) 

The School contributes to the Teachers’ Pension Defined Benefits Scheme for teaching staff at rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator. The scheme is a multi-employer pension scheme, and it is not possible to identify the assets and liabilities which are attributable to the School. In accordance with FRS102, therefore, the scheme is accounted for as a defined contribution scheme and the costs charged in the year represent the amount of contributions payable. 

## Defined contribution scheme (Teachers) 

The School contributes to the Aviva Pension Trust Scheme (APTIS) for teaching staff who have chosen to opt out of the TPS. The amount of benefit is determined by the accumulated value of the contributions paid by and in respect of the member, and the cost of securing a pension according to age and sex. The assets of the scheme are held separately from those of the School. The annual contributions payable are charged to the statement of financial activities. 

## Defined contribution scheme (Support Staff) 

The School operates a defined benefit pension scheme which covers the majority of non-teaching employees. The assets of the scheme are invested and managed independently of the finances of the School. The pension cost charge represents contributions payable in the year. The scheme is a multi employer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the School. In accordance with FRS102, therefore, the scheme is accounted for as a defined contribution scheme. 

In respect of the pension scheme for non-teaching employees, the School has agreed to a deficit funding arrangement resulting in additional charges that are intended to equalise the pension scheme deficit, in relation to past services, by 2025. A liability for this obligation has been recognised in liabilities. The amount recognised is the net present value of the remaining deficit contributions payable under the deficit funding arrangement. The present value is calculated using a discount rate equivalent to the interest rate obtainable by the School. 

The unwinding of the discount rate is recognised as a finance cost in the income and expenditure account in the period in which it arises. 

19 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

|**CHARITABLE ACTIVITIES - FEES RECEIVABLE**<br>The School's fee income comprised:<br>Gross fees<br>Less: Total bursaries, grants and allowances<br>**CHARITABLE ACTIVITIES - OTHER INCOME**<br>**Other educational charitable activities**<br>Registration fees<br>Music fees, sub-lettings and other income|_2025_<br>_£_<br>12,721,903<br>(1,242,048)<br>£ 11,479,855<br>31,460<br>296,688<br>£ 328,148|_2024_<br>_£_<br>12,907,870<br>(1,107,030)|
|---|---|---|
|||£ 11,800,840|
|||40,121<br>311,058|
|||£ 351,179|



## **2. CHARITABLE ACTIVITIES - FEES RECEIVABLE** 

## **3. CHARITABLE ACTIVITIES - OTHER INCOME** 

## **4. ANALYSIS OF EXPENDITURE** 

|**Raising funds**<br>Finance costs<br>**Total for Charity**<br>Trading costs of the subsidiary<br>**Total for the Group**<br>**Charitable activities**<br>Teaching<br>Welfare<br>Premises<br>Support costs<br>Governance costs<br>**Total for the Group**<br>**Total resources expended - Group**<br>**Total resources expended - Charity**<br>**Governance costs include:**<br>Auditor's remuneration:<br>for audit services<br>for other services|_Staff_<br>£<br>-|_Depreciation_<br>£<br>-|_Other_<br>£<br>129,738<br>£ 129,738<br>46,924<br>£ 176,662<br>344,674<br>485,320<br>1,593,367<br>634,147<br>35,659<br>£ 3,093,167<br>£ 3,269,829<br>£ 3,222,905|_2025_<br>_Total_<br>£<br>129,738<br>£ 129,738<br>60,059<br>£ 189,797<br>6,593,977<br>1,311,244<br>2,714,514<br>1,611,983<br>35,659<br>£ 12,267,377<br>£ 12,457,174<br>£ 12,397,115<br>_2025_<br>_£_<br>12,005<br>5,256<br>£ 17,261|_2024_<br>_Total_<br>£<br>179,698|
|---|---|---|---|---|---|
||£ -|£ -|||£ 179,698|
||13,135|-|||59,074|
||£ 13,135|£ -|||£ 238,772|
||6,237,777<br>821,064<br>715,920<br>838,093<br>-|11,526<br>4,860<br>405,227<br>139,743<br>-|||6,368,536<br>1,236,956<br>2,954,635<br>1,683,738<br>38,256|
||£ 8,612,854|£ 561,356|||£ 12,282,121|
||£ 8,625,989|£ 561,356|||£ 12,520,893|
||£ 8,612,854|£ 561,356|||£ 12,461,819|
||||||_2024_<br>_£_<br>11,640<br>8,414|
||||||£ 20,054|



20 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **5. STAFF COSTS AND NUMBERS** 

The average monthly head count was 229 staff (2024 229) and the average monthly number of fulltime equivalent employees during the year were as follows: 

|time equivalent employees during the year were as follows:|||
|---|---|---|
|Teaching<br>Welfare<br>Premises<br>Administration<br>Payroll costs in respect of staff were:<br>Wages and Salaries<br>Employer's NIC<br>Pension costs|_2025_<br>103<br>31<br>22<br>19<br>175<br>_2025_<br>_£_<br>6,733,681<br>715,571<br>1,176,737<br>£ 8,625,989|_2024_<br>106<br>31<br>23<br>19|
|||179|
|||_2024_<br>_£_<br>6,525,896<br>622,005<br>1,059,379|
|||£ 8,207,280|



In 2025 The key management personnel of the charity, comprise the whole School’s Leadership Team. This team consists of the Head, Deputy Head (Operations), Junior school Head Teacher, Junior School Deputy Head Teacher, Bursar, Business Development Manager, Assistant Head (Academic), Assistant Head (Curriculum & logistics), Assistant Head (Pastoral), Assistant Head (Boarding & Well-being), HR Manager, Assistant Head (Director of 6th Form), Head of Early Years and the Designated Safeguard Lead. The total employee benefits of the team were £1,172,547. 

In 2024 The key management personnel of the charity, comprise the whole School’s Leadership Team. This team consists of the Head, Deputy Head, Junior school Head Teacher, Junior School Deputy Head Teacher, Bursar, Business Development Manager, Academic Deputy, Assistant Head (Curriculum & logistics), Assistant Head (Extended curriculum), Assistant Head (Boarding & Wellbeing), HR Manager, Assistant Head (Director of 6th Form), Head of Early Years and the Designated Safeguard Lead. The total employee benefits of the team were £1,156,615. 

During the year the School made termination payments totaling £44,759 (2024 £34,982) in respect of eleven (2024 five) former employees. 

Employees earning £60,000 or more per annum 

||_2025_|_2024_|
|---|---|---|
|£60,000 - £69,999|5|3|
|£70,000 - £79,999|1|-|
|£90,000 - £99,999|1|1|
|£110,000 - £119,999|1|1|



5 employees above have retirement benefits accruing under a defined benefit scheme. 

21 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **6. TANGIBLE FIXED ASSETS** 

||_Land_|_Furniture_|||
|---|---|---|---|---|
||_and_|_and_|_Motor_||
||_Buildings_|_Equipment_|_Vehicles_|_Total_|
||_£_|_£_|_£_|_£_|
|**Consolidated and School**|||||
|Cost:|||||
|At 1 September 2024|21,571,177|4,053,666|177,097|25,801,940|
|Additions|145,896|140,695|25,350|311,941|
|Disposals|(244,740)|(42,373)|(1,145)|(288,258)|
|At 31 August 2025|21,472,333|4,151,988|201,302|25,825,623|
|Depreciation:|||||
|At 1 September 2024|6,770,468|3,618,075|155,911|10,544,454|
|Charge for the year|408,383|140,837|12,138|561,358|
|At 31 August 2025|7,178,851|3,758,912|168,049|11,105,812|
|Net book value:|||||
|At 31 August 2025|£ 14,293,482|£ 393,076|£ 33,253|£ 14,719,811|
|At 31 August 2024|£ 14,800,709|£ 435,591|£ 21,186|£ 15,257,486|



All fixed assets are used for charitable purposes. 

The land and properties known as Bootham School are part of the Religious Society of Friends in Yorkshire permanent charitable foundation. 

The School holds the properties on trust for their own use and benefit as a charitable corporation for educational purposes in accordance with the ethos and testimonies of the Religious Society of Friends. The School is responsible for all matters relating to the properties and is at liberty to sell, exchange, mortgage or lease the properties or any part of them without requirement for specific direction from the Religious Society of Friends in Yorkshire. 

The land and buildings capitalised above represent the subsequent improvements and additions which have been made to the School. 

22 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **7. FIXED ASSET INVESTMENTS** 

|**Quoted Investments**<br>**Consolidated**<br>Balance at 1 September 2024<br>Additions<br>Disposals<br>Revaluations<br>Balance at 31 August 2025<br>Historical cost at end of the year<br>**School**<br>Balance at 1 September 2024<br>Additions<br>Disposals<br>Revaluations<br>Balance at 31 August 2025<br>Historical cost at end of the year|_Restricted_<br>_Funds_<br>_£_<br>1,036,162<br>1,325,099<br>(1,855,066)<br>(12,592)<br>£ 493,603<br>£ 480,000<br>1,036,162<br>1,325,099<br>(1,855,066)<br>(12,592)<br>£ 493,603<br>£ 480,000|_Endowment_<br>_Funds_<br>_£_<br>137,401<br>112,031<br>(106,738)<br>(1,850)<br>£ 140,844<br>£ 125,010<br>82,634<br>112,031<br>(106,738)<br>353<br>£ 88,280<br>£ 87,010|_Total_<br>_£_<br>1,173,563<br>1,437,130<br>(1,961,804)<br>(14,442)|
|---|---|---|---|
||||£ 634,447|
||||£ 605,010|
||||1,118,796<br>1,437,130<br>(1,961,804)<br>(12,239)|
||||£ 581,883|
||||£ 567,010|



All of the quoted investments are listed on the London Stock Exchange. 

Investment income of £25,996 (2024 £43,477) was received from UK listed securities. 

The School is the beneficial owner of ten ordinary £1 shares in Bootham School Estates Limited, a company incorporated in England and Wales. 

23 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

|||_Consolidated_|_Consolidated_|_School_|_School_||
|---|---|---|---|---|---|---|
|||_2025_|_2024_|_2025_||_2024_|
|||_£_|_£_|_£_||_£_|
|**8.**|**STOCKS**||||||
||Goods for resale and consumables|£ 40,898|£ 47,981|£ 40,898||£ 47,981|
|**9.**|**DEBTORS**||||||
||Trade debtors|939,065|546,540|868,340||384,020|
||Amounts due from group company|-|-|118,958||129,013|
||Other debtors|105,911|43,099|105,911||43,099|
||Prepayments|445,526|450,119|445,526||450,119|
|||£ 1,490,502|£ 1,039,758|£ 1,538,735|£|1,006,251|
||Trade Debtors includes an amount of|£495,250 (2024:|nil) relating to|prepaid recoverable|VAT.||
|**10.**|**CASH AT BANK AND IN HAND**||||||
||Stockbrokers' deposit account|-|53,593|-||53,593|
||Current account|495,791|879,457|495,791||879,457|
||Composition fees account|243,612|1,288,181|243,612||1,288,181|
||Trust fund account|4,352|40,666|4,352||40,666|
||Other endowed funds bank accounts|13,083|11,399|-||-|
||Bootham School Estates|82,273|4,968|-||-|
||Ian Small Drama Award account|2,876|2,875|2,876||2,875|
||Cash in hand|3,603|2,769|3,603||2,769|
|||£ 845,590|£ 2,283,908|£ 750,234|£|2,267,541|



The Stockbrokers' deposit account that was held by Redmayne-Bentley LLP in a pooled client account was transferred to a CCLA deposit fund during the year. All other bank accounts are held in the name of Bootham School. The trust fund and Bootham School current accounts are the subject of group banking arrangements. 

24 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

|||_Consolidated_|_Consolidated_|_School_|_School_||
|---|---|---|---|---|---|---|
|||_2025_|_2024_|_2025_||_2024_|
|||_£_|_£_|_£_||_£_|
|**11.CREDITORS: amounts falling due within one year**|||||||
|Bank loans and overdrafts||292,160|294,315|292,160||294,315|
|Trade creditors||62,217|317,588|62,217||317,588|
|Taxes and other social security costs||556,140|160,893|534,599||134,317|
|School fees prepaid||1,080,504|2,480,198|1,080,504||2,480,198|
|Overseas deposits paid in advance||443,752|439,125|443,752||439,125|
|Other creditors||358,105|348,047|358,105||348,047|
|Pension deficit funding agreement||14,275|8,303|14,275||8,303|
|Accruals||85,931|140,373|83,576||138,617|
||£|2,893,084|£ 4,188,842|£ 2,869,188|£|4,160,510|
|**12.CREDITORS: amounts falling due after one year**|||||||
|Bank loans||903,604|1,139,366|903,604||1,139,366|
|Pension deficit funding agreement||20,702|-|20,702||-|
|Loan from Bootham School Investment Trust||-|-|139,671||139,671|
|||£ 924,306|£ 1,139,366|£ 1,063,977|£|1,279,037|
|The bank loans are secured on various School properties and on a negative pledge made by Bootham School.|||||||
|These loans are repayable as follows:|||||||
|Within one year||292,160|294,315|292,160||294,315|
|More than one year but not more than two years||292,160|294,315|292,160||294,315|
|More than two years but not more than five years||611,444|845,051|611,444||845,051|
||£|1,195,764|£ 1,433,681|£ 1,195,764|£|1,433,681|



A loan with a carrying amount of £790,037 (2024 £932,104) is denominated in £ with a nominal interest rate of BOE + 0.72%. The final instalment is due on 18 March 2029. 

A loan with a carrying amount of £405,727 (2024 £501,577) is denominated in £ with a nominal interest rate of BOE + 1.5%. The final instalment is due on 18 March 2029. 

The loan from Bootham School Investment Trust is interest-free and without specific terms for repayment. 

25 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

|**13. PROVISION FOR LIABILITIES AND CHARGES**<br>Provision for composition fees|_2025_<br>_2024_<br>_£_<br>_£_<br>£ 1,277,388<br>£ 1,775,250<br>£ 1,277,388<br>£ 1,775,250<br>Consolidated|_2025_<br>_2024_<br>_£_<br>_£_<br>£ 1,277,388<br>1,775,250<br>£ 1,277,388<br>£ 1,775,250<br>School|_2025_<br>_2024_<br>_£_<br>_£_<br>£ 1,277,388<br>1,775,250<br>£ 1,277,388<br>£ 1,775,250<br>School|
|---|---|---|---|
||||£ 1,775,250|



The balance for composition fees represents the accrued liability under the contracts. The movements during the year were: 

|Balance at 1 September 2024<br>New contracts<br>Amounts accrued to contracts<br>Amounts utilised in payment of fees to the School<br>Amounts refunded<br>Balance at 31 August 2025|1,775,250<br>449,423<br>61,392|
|---|---|
||2,286,065<br>(971,467)<br>(37,210)|
||£ 1,277,388|



Parents may enter into a contract to pay to the School advanced tuition fees. Assuming pupils will remain in the School, advance fees will be applied as follows: 

|Within 2 to 5 years<br>Within 1 to 2 years<br>Within 1 year|_2025_<br>_£_<br>187,958<br>324,633<br>512,591<br>832,583<br>£ 1,345,174|_2024_<br>_£_<br>448,793<br>515,421|
|---|---|---|
|||964,214<br>946,289|
|||£ 1,910,503|



## **14. CONTINGENT LIABILITIES** 

At the year end, the School had received advance fees and income on those fees of £1,277,388 (2024 £1,775,250). Fees of £1,345,174 (2024 £1,910,503) will become payable over the next 5 years. The contingent liability of £67,786 (2024 £135,253), representing the difference, is to be met by interest and investment income to be earned on the funds currently held. 

26 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **15. RESTRICTED FUNDS: MOVEMENTS IN THE YEAR** 

|Lister Legacy<br>Ian Small Drama Award<br>"Bootham Trust" Fund|_At_<br>_1 September_<br>_2024_<br>_£_<br>-<br>3,273<br>864,427<br>£ 867,700|_Income_<br>_£_<br>2,296<br>-<br>330,116<br>£ 332,412|_Expended_<br>_£_<br>(2,296)<br>-<br>(39,350)<br>£ (41,646)|_Transfers_<br>_£_<br>-<br>-<br>-<br>-|_Investment_<br>_losses_<br>_£_<br>-<br>-<br>(12,592)<br>£ (12,592)|_At_<br>_31 August_<br>_2025_<br>_£_<br>-<br>3,273<br>1,142,601|
|---|---|---|---|---|---|---|
|||||||£ 1,145,874|



_Lister Legacy_ - this income relates to money from the estate of George M. Lister for the purpose of issuing an annual prize for such subject or sporting activity as the Trustees decide. 

_Ian Small Drama Award_ - this income relates to money donated by Victor Watson to enable a £50 award to be presented to a drama student on an annual basis. 

_"Bootham Trust" Fund_ - this income is received from anyone belonging to the Bootham community and is used to provide bursaries and contribute to capital projects. 

## **16. ENDOWMENT FUNDS: MOVEMENTS IN THE YEAR** 

|**_Expendable Endowment_**<br>**General Purpose Funds**<br>The Alexander Educational Trust<br>Tom Openshaw Fund<br>**_Permanent Endowment_**<br>**Bootham School Travel**<br>**Assistance Fund**<br>**Bootham School Scholarship,**<br>**Bursary and Prize Fund**<br>**Bootham School Scholarship,**<br>**Bursary and Prize Fund**|_At_<br>_1 September_<br>_2024_<br>_£_<br>61,809<br>2,672<br>4,372<br>425,563<br>134,863<br>£ 629,279|_Income_<br>_£_<br>1,685<br>13<br>-<br>2,062<br>654<br>£ 4,414|_Expended_<br>_£_<br>-<br>(20)<br>-<br>(3,187)<br>(1,010)<br>£ (4,217)|_Transfer_<br>_£_<br>-<br>(13)<br>-<br>(2,062)<br>(654)<br>£ (2,729)|_Investment_<br>_losses_<br>_£_<br>(2,203)<br>2<br>-<br>266<br>85<br>£ (1,850)|_At_<br>_31 August_<br>_2025_<br>_£_<br>61,291<br>2,654<br>4,372<br>422,642<br>133,938|
|---|---|---|---|---|---|---|
|||||||£ 624,897|



## **General Purpose Funds** 

_The Alexander Educational Trust_ - for the advancement and propagation of education and learning at Bootham School and the provision of financial or other assistance of any kind to all persons who have been members of the teaching staff of the School. 

_Tom Openshaw Fund_ - for the provision of a travel award to a pupil of the School. 

**Bootham School Scholarship, Bursary and Prize Fund** - for the provision of scholarships, bursaries or prizes to pupils of the 

**Bootham School Travel Assistance Fund** - for the provision of travel scholarships or bursaries to pupils of the School. 

27 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **17. UNRESTRICTED FUNDS: MOVEMENTS IN THE YEAR** 

|**Designated funds:**<br>Fixed assets fund<br>**Undesignated funds:**<br>Charitable free reserves<br>Non charitable trading funds|_At_<br>_1 September_<br>_2024_<br>_£_<br>13,823,805<br>(2,631,680)<br>10,134<br>£ 11,202,259|_Income_<br>_£_<br>-<br>11,951,527<br>120,495<br>£ 12,072,022|_Expended_<br>_£_<br>-<br>(12,290,816)<br>(120,495)<br>£ (12,411,311)|_Transfers_<br>_£_<br>(299,758)<br>302,487<br>-<br>£ 2,729|_At_<br>_31 August_<br>_2025_<br>_£_<br>13,524,047<br>(2,668,482)<br>10,134|
|---|---|---|---|---|---|
||||||£ 10,865,699|



_Fixed assets fund_ - funds invested in fixed assets 

The transfer from free reserves to fixed assets fund in the year relates to money used from the School's free reserves to purchase fixed assets, disposals of assets and loan repayments. 

## **18. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|**Expendable Endowment Funds**<br>General Purpose<br>Scholarship, prize and bursary funds<br>**Permanent Endowment Funds**<br>Scholarship, prize and bursary funds<br>**Restricted Funds**<br>Composition fee reserve<br>Lister legacy<br>Ian Small Drama Award<br>"Bootham Trust" Fund<br>**Unrestricted funds**<br>Designated funds<br>Undesignated funds<br>Charitable free reserves<br>Non charitable trading funds<br>**Total**<br>Travel Scholarship funds|_Fixed assets_<br>_(excluding_<br>_investments)_<br>_£_<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>14,719,811<br>-<br>-<br>14,719,811<br>£ 14,719,811|_Investments_<br>_£_<br>14,412<br>985<br>95,259<br>30,188<br>140,844<br>-<br>-<br>-<br>493,603<br>493,603<br>-<br>-<br>-<br>-<br>£ 634,447|_Net_<br>_current assets/_<br>_liabilities_<br>_£_<br>49,533<br>3,387<br>327,383<br>103,750<br>484,053<br>1,277,388<br>-<br>3,273<br>648,998<br>1,929,659<br>(292,160)<br>(2,647,780)<br>10,134<br>(2,929,806)<br>£ (516,094)|_Long-term_<br>_liabilities_<br>_& provisions_<br>_£_<br>-<br>-<br>-<br>-<br>-<br>(1,277,388)<br>-<br>-<br>-<br>(1,277,388)<br>(903,604)<br>(20,702)<br>-<br>(924,306)<br>£ (2,201,694)|_Total_<br>_£_<br>63,945<br>4,372<br>422,642<br>133,938|
|---|---|---|---|---|---|
||||||624,897|
||||||-<br>-<br>3,273<br>1,142,601|
||||||1,145,874|
||||||13,524,047<br>(2,668,482)<br>10,134|
||||||10,865,699|
||||||£ 12,636,470|



28 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **19. OPERATING LEASES** 

As at 31 August 2025 the School had ongoing financial commitments to make the following payments in respect of noncancellable operating leases as follows: 

|||_Consolidated_||_School_||
|---|---|---|---|---|---|
||_2025_||_2024_|_2025_|_2024_|
|**Equipment**|_£_||_£_|_£_|_£_|
|Minimum lease payments within one year||31,513|31,513|31,513|31,513|
|Minimum lease payments within two to five years||47,270|78,783|47,270|78,783|
||£|78,783|£ 110,296|£ 78,783|£ 110,296|



## **20. PENSION SCHEMES** 

The school participates in the Teachers Pension Scheme (England and Wales) (“the TPS”), for its teaching staff. The Pension charge for the year includes contributions payable to the TPS of £753,019 (2024: £684,068) and at the year-end £nil (2024 - £nil) 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, which was published in October 2023. 

Following the McCloud judgement, the remedy proposed that when benefits become payable, eligible members can elect to receive them from either the reformed or legacy schemes from 1 April 2015 to 31 March 2022. The actuaries have assumed that members are likely to choose the option that provides them with the greater benefits, and in preparing the 2020 valuation, have valued the 'greater value' benefits for groups of relevant members. 

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%. 

The school also contributes in to defined contribution schemes for its teaching and support staff, the pension charge in the year with respect to these scheme are £523,572 (2024: £465,236). 

## **The Pensions Trust Retirement Solutions - The Growth Plan (Support staff)** 

The School participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the School to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. 

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK. 

The scheme is classified as a 'last-man standing arrangement'. Therefore the School is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. 

A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets of £514.9m, liabilities of £531.0m and a deficit of £16.1m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows: 

29 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **20.PENSION SCHEMES (continued)** 

## **Deficit contributions** 

From 1 April 2025 to 31 March 2028 

Total Scheme Deficit Contribution £2,100,000 per annum 

(payable monthly) 

Unless a concession has been agreed with the Trustee the term to 31 March 2028 applies. 

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities. 

Where the scheme is in deficit and where the School has agreed to a deficit funding arrangement the School recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. The present value is: 

## **Present values of provision** 

|Interest expense<br>Remeasurements - impact of any change in assumptions<br>**Assumptions**<br>**Income and expenditure impact**<br>**Reconciliation of opening and closing provisions**<br>Provision at end of period<br>Remeasurements - impact of any change in assumptions<br>Provision at start of period<br>Present value of provision<br>Interest expense<br>Deficit contribution paid<br>Remeasurements - amendments to the contribution schedule<br>Remeasurements - amendments to the contribution schedule|_2025_<br>_£_<br>34,976<br>_2025_<br>_£_<br>8,303<br>63<br>(14,321)<br>309<br>40,622<br>34,976<br>_2025_<br>_£_<br>63<br>309<br>40,622<br>4.37<br>_2025_<br>_% per annum_|_2024_<br>_2023_<br>_£_<br>_£_<br>8,303<br>27,383<br>_2024_<br>_£_<br>27,383<br>1,002<br>(20,094)<br>12<br>-<br>8,303<br>_2024_<br>_£_<br>1,002<br>12<br>-<br>5.13<br>6.04<br>_2023_<br>_% per annum_<br>_2024_<br>_% per annum_|
|---|---|---|



The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. 

The following schedule details the deficit contributions agreed between the School and the scheme at each year end period: 

## **Deficit contributions schedule** 

|||_2025_|_2024_|_2023_|
|---|---|---|---|---|
|**Year**|**ending**|_£_|_£_|_£_|
|Year|1|14,275|8,372|20,094|
|Year|2|14,275|-|8,372|
|Year|3|8,327|-|-|



The School must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises. 

It is these contributions that have been used to derive the School's balance sheet liability. 

30 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

|**21.**<br>**SCHOLARSHIPS AND BURSARIES TO PUPILS**<br>Bursaries (means tested)<br>Scholarships (non-means tested)<br>**22.**<br>Net (expenditure)/income for the reporting period<br>Adjustments for:<br>Depreciation charges<br>Profit on sale of fixed assets<br>Write-off of prior year capital expenditure<br>Losses/(profits) on investments<br>Dividends, interest and rents from investments<br>Bank interest paid<br>Decrease/(increase) in stocks<br>Increase in debtors<br>Increase in creditors<br>Net cash (outflow)/inflow from operating activities<br>**ANALYSIS OF CASH AND CASH EQUIVALENTS**<br>Cash at bank and in hand<br>**Total cash and cash equivalents**<br>**ANALYSIS OF CHANGES IN NET DEBT**<br>**At**<br>**01/09/2023**<br>**_£_**<br>Cash<br>2,283,908<br>Loans falling due within one year<br>(294,315)<br>Loans falling due after more than one year<br>(1,139,366)<br>£ 850,227<br>In 2025, a total of 105 pupils received scholarships or bursaries (2024 81<br>**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH**<br>**FLOW FROM OPERATING ACTIVITIES**|_2025_<br>_£_<br>737,885<br>185,718<br>£ 923,603<br>(62,768)<br>561,358<br>-<br>-<br>14,442<br>(82,966)<br>67,928<br>7,083<br>(450,744)<br>410,865<br>£ 465,198<br>845,590<br>£ 845,590<br>**Cash-flows**<br>**_£_**<br>(1,438,318)<br>(1,438,318)<br>2,155<br>235,762<br>£ (1,200,401)<br>pupils).|_2024_<br>_£_<br>633,877<br>137,303|
|---|---|---|
|||£ 771,180|
|||262,836<br>576,080<br>(2,157)<br>6,415<br>(68,199)<br>(43,477)<br>97,843<br>(11,189)<br>(403,046)<br>62,128|
|||£ 477,234|
|||2,283,908|
|||£ 2,283,908|
|||**At**<br>**31/08/2024**<br>**_£_**<br>845,590<br>(292,160)<br>(903,604)|
|||£ (350,174)|



31 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **23. BOOTHAM SCHOOL ESTATES LIMITED** 

The School owns the whole of the issued share capital of a trading company, Bootham School Estates Limited. The principal activity of Bootham School Estates Limited is the letting for educational purposes of the premises held under licence from Bootham School. It gifts taxable profit to the School. Its trading results extracted from its audited financial statements for the year ended 31 August 2025 were: 

|Turnover<br>Cost of sales<br>Gross profit<br>Administrative expenses<br>Operating profit<br>Net profit<br>Charitable gift aid<br>Retained profit for the year<br>Balance brought forward<br>Balance carried forward|_2025_<br>_£_<br>120,495<br>(41,889)<br>78,606<br>(18,170)<br>60,436<br>60,436<br>(60,436)<br>-<br>10,134<br>£ 10,134|_2024_<br>_£_<br>137,562<br>(42,317)|
|---|---|---|
|||95,245<br>(16,757)|
|||78,488|
|||78,488<br>(78,488)|
|||-<br>10,134|
|||£ 10,134|



Cost of sales includes £41,889 (2024 £42,317) for the use of school facilities and services, and administration includes £13,135 (2024 £14,607) staffing costs and other charges paid to the School. 

## **24. RELATED PARTIES** 

## Governors remuneration and benefits 

The Governors did not receive any remuneration or benefits for their services. 

## Governors expenses 

Travelling and subsistence expenses totaling £103 (2024 £59) were reimbursed to 2 (2024 2) Trustees during the year. 

## Governors other related parties 

In 2025 there were four Governors with a total of five children enrolled at the school, one receiving a 20% music scholarship and one receiving a 10% music scholarship (2024 four Governors with four children enrolled at the school, one receiving a 20% music scholarship). 

There are no other related parties. 

32 



Docusign Envelope ID: D88BED5E-87D4-4757-AE6D-10FE5A519A5D 

## **BOOTHAM SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **25. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT** 

|**_Income and endowments from:_**<br>**_Charitable activities_**<br>_School fees receivable_<br>_Ancillary trading income_<br>**_Other trading activities_**<br>_Non-ancillary trading income_<br>**_Investments_**<br>_Investment income_<br>**_Voluntary sources_**<br>_Donations_<br>**_Total_**<br>**_Expenditure on:_**<br>**_Raising funds_**<br>_Non-ancillary trading_<br>_Financing costs_<br>**_Total deductible costs_**<br>**_Charitable Activities_**<br>_Education and grant making_<br>**_Total_**<br>**_Net (expenditure)/income and net_**<br>**_movement in funds before_**<br>**_losses on investments_**<br>Losses on investments<br>**_Net (expenditure)/income_**<br>_Transfers between funds_<br>**_Net movement in funds_**<br>**_Reconciliation of funds:_**<br>_Total funds brought forward_<br>**_Total funds carried forward_**|**_Unrestricted_**<br>**_Funds_**<br>**_£_**<br>_11,800,840_<br>_351,179_<br>_137,562_<br>_959_<br>_148,398_|**_Endowed_**<br>**_Funds_**<br>**_£_**<br>_-_<br>_-_<br>_-_<br>_3,722_<br>_110_|**_Restricted_**<br>**_Funds_**<br>**_£_**<br>_-_<br>_-_<br>_-_<br>_38,796_<br>_233,964_|**_2024_**<br>**_£_**<br>**_11,800,840_**<br>**_351,179_**<br>**_137,562_**<br>**_43,477_**<br>**_382,472_**|
|---|---|---|---|---|
||**_£ 12,438,938_**|**_£ 3,832_**|**_£ 272,760_**|**_£ 12,715,530_**|
||_59,074_<br>_179,698_|_-_<br>_-_|_-_<br>_-_|**_59,074_**<br>**_179,698_**|
||_238,772_<br>_12,211,548_|_-_<br>_1,705_|_-_<br>_68,868_|**_238,772_**<br>**_12,282,121_**|
||**_£ 12,450,320_**|**_£ 1,705_**|**_£ 68,868_**|**_£ 12,520,893_**|
||_(11,382)_<br>_-_|_2,127_<br>_9,711_|_203,892_<br>_58,488_|**_194,637_**<br>**_68,199_**|
||_(11,382)_<br>_2,075_|_11,838_<br>_(2,075)_|_262,380_<br>_-_|_262,836_<br>**_-_**|
||_(9,307)_<br>_11,211,566_|_9,763_<br>_619,516_|_262,380_<br>_605,320_|_262,836_<br>**_12,436,402_**|
||**_£ 11,202,259_**|**_£ 629,279_**|**_£ 867,700_**|**_£ 12,699,238_**|



33