Reglstered numbgr.. 02042309 Charity numbBr: 518009 PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A company limitgd by guarantee) CONTENTS Page Roference and admlnlstratlve details of the Company. Its Trustg9s and advlsers Trustees. report Independent auditor's report on the financial statements Statement of flnanclal actlvltles 10-13 14 Balance sheet 15 Statgmgnt of cash flows 16 Notgs to the flnanciol Stalemenls 17-30
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company limited by guarantee} REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Trustees Mr S Brereton. Chair1,2 Ms D Mallison, Vice Chair1,2 Ms V Naik1 Mrs A Cleary1,3A Mrs P Skrybant3 Rev J O'Brien (resigned 5 March 20251 Miss S Rai Miss E Cuuer {appoinled 15 October 2024) Ms H Somerfield (resigned 4 October 2024}1,2 Finance and General Purpose Commlttee 2 Risk and Compliance Committee (incorporating Health and Safety) Education Committee Safeguarding and Wellbeing Committee Company rgglstgred number 02042309 Charlty reglstered number 518009 Rogistergd offi¢9 Priory School 39 Sir Harrls Road Edgbaslon Birmingham B152UR Independent auditor Crowe U.K. LLP Black Country House Rounds Green Road Oldbury Wesl Midlands B69 2DG Bankers Barclays Bank PIC 15 Colmore row Birmingham B3 2EP Handelsbanken 55 Calthorpe road Edgbaston B15 1TH Headmaster Mr J Cr8mb BA Hons. PGCE, MEd lunlil 31 August 20251 Mr B Doherty (from 1 September 20251 Financg Dir9Ctor and Company Secretary Mr N Al-chamaa BA Hons Page 1
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A company limitgd by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 GOVERNORS. DIRECTORS AND CHARITY TRUSTEES The Governors of Priory School Edgbaslon Trustees Limited are the School's charity tnjstees under charity law and they are the directors of the charitable company. Members of the Governing Body (Governing Council) who served in office as Governors dudng the year and subsequently are detailed below. During the year certain activities of the Governing Body were carried out through four committees. being the following {1) {2) {31 {41 Finance and Gener81 Purpose Committee Risk and Compliance Committee lincorporating Health and Safety) Education Committee Safeguarding 8nd Wellbeing Committee Membership of Committees is shown above for each Governor. Page 2
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The members of the Priory School Governing Body present th8ir Annual Report for the year ended 31 August 2025 under the Chartlies Act 2011, including the Directors. Report, under the Companies Act 2006, together wth the audited financial statements for the year. REFERENCE AND ADMINISTRATIVE INFORMATION Priory School Edgbaston Trustees Limited is constituted as a company limited by guarantee registered in England, No. 2042309, and is registered with the Charity Commission under Charity No. 518009. STRUCTURE. GOVERNANCE AND MANAGEMENT Govorning documents The School is governed by its Memorandum of Association and Artides of Association, as adopted by a special resolution dated 3rd October 2023. Governing Body The Governing Council is the Govoming Body. Coundl members are elected at a general meeting and must be proposed by a member qijalrfied to attend and vote at such meetings. in accordance with the Memorandum and Articles of Association. The number of Council members in office should not be more than 16 and not less than as provided in the Memorandum and Articles of Association. Recruttment and trainlng of Dlrectors New Directors {Members of the Governing Council) are introduced to the workings of the School, including Governing Council policy and procedures, by members of the Goveming Council. Directors also attend specialisl external courses from time to time. for example on Safeguardirsg Training. Organlsatlonal management The Council members meet as a Board at least five times per annum to detennine the general policy of the company and lo revi9w its overall management and control, for which they are legally responsible. The Council will and do meet more often when pressing matters aSe. The Council members delegate day to day management of the School to the Headmaster and his senior management team, comprising the Finance Diredor, the Finance and Facilities Manager and the Deputy Heads and Assistant Heads of the Early Years. Preparatory, and Senior Sehools. Together, this group are the key management personnel. The Council operates a number of Committees with delegated responsibilities in specific areas. These include the Finance and General Purposes Committee. the Risk and Compliance Committee, The Safeguarding and Wellbeing Committee and the Education Committee. The Head and Finance Director atlersd meetings of the Goveming Council's Committees. In addition. certain members of the Council have specific governance responsibilities in key areas such as Early Years. Child Protectson, Marketing and Special Educational Needs. The Finance and General Purposes Committee moets shortly before each meeting of the fijll Governing Council, specifically to review financial performance. budgets and management accounts. Responsibilities of this Committee also include Marketing, Facilities. Fundraising and Infrastructural Development projecls. The Committee makes recommendations to Goveming Couricil on the annual reviews of School Fee tariffs and Staff Salary scales. Page 3
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Employment pollcy Delivery of the School's charitable vision and purpose is primarily dependent on its key managemant personnel, and stsff costs are the largest single element of charitable expenditure. Remuneration policy is set by the Headmaster and Finance Director, subject to board (Council) approval, with the objective of providing appropriate incentives to encourage optimal performance and of rewarding individual contributions lo the School's success fairly and responsibly. The appropriateness and relevance of remuneration policy is reviewed annually. While reviews include reference to conditions in the education sector generally, the School is free to set its pay scales independently. Here the objective is to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere, while adapting to local budgetary conditions. The headleachels salary is approved by the Governing Council. The Goveming Council has a duty lo detemiine the pay range and associated salary. Typically this is reviewed on an annual basis and if pay increases are lo be awarded. The financial situation of the school determines whether staff receive a pay increase. The headloacherfs salary is also determined following a performance management process. The School is an equal opportunitles employer. Full and fair consideration is given lo job applications from disabled persons and due attenUon Is given to their training and employment needs. Communication with employees continues through normal management channels, in particular through the Daily Bulletin in which slaff are 8pprised of current issues and of key decisions affecting the school. Whole staff meetings, which are held temily, include briefings from the Headmaster, Finance Director, and other members of the senior management team. Key Relallonshlps The School is a membar of ISA Ilndependenl Schools Association), AG81S (Association of Goveming Bodies of Independent Schoolsl, and ISBA {Independent Schools Bursars, As50cialion). Locally, the School is a member of the Bimiingham Catholic Schools Partnership. In recognition of its heritage, the School maintains links With the Society of the Holy Child Jesus and with sister schools in the UK, Europe and North America. The Head of Prep and the Chair of Governors will be attending the SHCJ conference as invited guests in March of 2025. We cooperat8 with a number of local organisalions in our ongoing endeavours to wlden publlc access to the schooling that we can provide. lo optimise the use of our cultural and sporting facilities and lo develop in Ouf pupils an awareness of the social contsxt of the education that they receive at the School. The School also beneflls from the generosity of ils parents, associaUon, the Friends of Priory School, whose close support we greatly appreciate and gladly acknowledge. OBJECTS. AIMS. OBJECTIVES AND ACTIVITIES The company is established to advance education by rLtnnlng a School in the United Kingdom as a registered charity for the education of children of both sexes and all denominations. The companys principal activity remains the provlsion of independent education for children from Early Years to Sixth Form. Page 4
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A company limited by guaranteel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 strateglc Aim Priory School is a Catholic Heritage school which welcomes pupils of all faiths and abilities and is committed to delivering Success for every child in its care. complementing academic life with perfomiing arts, sports, and other extra-curricular activities designed to develop self-confidenl and well-rounded individuals. Our aim is encapsulated in the following extract from our Mission Statement.. 'In partnership with parenls or guardians, we provide a nurturing, f8mily-b8se(18thos, along&de high standards of teaching and leaming, enabling all pupils to achieve theirpolential., Prlnclpal actlvlty The company s principal activity remains the provision of independent education for chlldren from nursery to sixth form. Serving the public bongfit In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefrt. In particular, the School has continued to support the widening of access lo our school by pupils from lower income families through tho provision of Scholarships and Supported Places. However. as the School has no endowment fund, we have had lo maintain a careful balanc8 between fee paying parents and those benefiting from the awards. in order to ensure our ongoing financial viability and lo support further developmenl of the School. The Scholarship scheme offers access to our School for bright pupils who excel academically or in areas such as sport, art, music or drama. During the 202412025 academic year we have again complemenled the Scholarship scheme with Supported Place awards. which have been means-lesled and which have further supplemented the Scholarship award in appropriate cases. The Council viows our Scholarship and Supported Places awards as essential in helping to ensure that children from familias who would otherwise not be able lo afford the fees can access the education that we offer. Additionally, awards of Bursaries are made on the basis of parental means or lo relieve financial hardship where an existing pupil's place might otherwise be at risk. To underfine the value that we place on continuity for families. we continue to offer sibling discounts where parents have more than one child at the School. The Trustees achieve the wider public benefit aim by providing use of the school's facilities for a range of community events and adivities, including car parking for major sporting events al Edgbaslon Priory Club (tennis tournaments} and Edgbaston Cricket Ground for major match days. other beneficiaries of this policy this year induded National Youth Recorder Orchestra Birmingham Reggae Choir Short TennS8'. coached In our sports hall under the auspices of Edgbaston Priory Club. Fundralslng Statement The School undertakes only limited fundraising activity, and the level of voluntary income received during the year was minimal. Total donations and legacies amounted to £150 (2024.. £Nil), and no restricted income was received. These donations were modest, occasional contributlons from supporters and wer9 not the result of any organised fvndraising campaign. The School does not engag8 professional fundraisers, commercial participators, or extemal fundraising agencies, nor doos it carry out large-scale fundraising appeals. All fundraising activity is undertaken intemally on a small scale by School staff where appropriate. Page 5
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A company Ilmitod by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The School remains committed to ensuring that any voluntary income is received and recorded transparently and in accordance with charity law and the requirement5 of the Charities SORP. The School did not identify any matters during the year that would give rise to concems regarding the protection of supporters, including those who may be vulnerable. Internal controls over the receipt and Tecording of donations operale proportionately to the low level of fundraising activity carried out. The School continues to play an active part in seeking to extend ils Charitable activities to the general public and is willing lo assist and support in areas of need. We encourage our pupils to be good team playors who are able to think independenlty and Igad when required and we seek to foster a strong sense of the pupils. place their local community and wider society. Our pupils also serve the community by entertaining residents of Sunrise Senior Living Care Home in Edgbaston with singing and music. Our pupils also serve the community by suggesting charities to support and by actively engaging in fund raising activities in Support of worthy causes, including CAFOD Macmillan Cancer Support St Chad's Fair Trade NSPCC Children in Need SIFA Fireside Homeless Charity Save the Children Ukraine Appeal Unicef Banardos FINANCIAL REVIEW Results for the year This yeaf, the school reports a deficit of £224,644. This is owing to a range of issues. The school now has every determination incl*Jding cost savings where possible and strategic management of key resources to do what it can to ensure a better outcome for 202512026. Priory School staff remain our biggest asset but due to the financlal p8rformance in 2024125 il has unfortunately not be able to reward staff with a pay rise in 2025126. Roserves Level and Pollcy and Financial Vlablllty The school's total reseNes were £859,722 at the year-end. £788,082 of this r6presented the net book value of fixed assets, leaving free reserves of £71,640. There was no restricted income. The Council's continuing policy is to seek to have free reserves at a level sufficient to enable the School to withstand consequential pupil losses of up to 1001ty. The target level of free resources on this basis is approximately £541k. Our free reserves are lower dL$8 lo a fall in pupil numbers and VAT has played a contributing factor in Ihls. Ultimately this h85 affeclgd our anucipaled income levels. In temis of raising our reserves - we ar8 worklng hard to improve our pupil numbers in a variety of w8ys. Extensive and targeted marketing and reffning our education offer as being one that showcases 'Excellence as Standard, we hope will ensure our pupil numbers improves. We have also worked meticulously at reducing our costs and that our staffing levels matches our pupil numbers. Vve have also sought investment and a cash inlection and are working through that process at present. Page 6
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The Council has reviewed financial projections for the luture. These projections reflect the School's aim to relum to growth in pupil numbers throughout the school and to increase nel income through modest annual increases in school fee tariffs while continuing the policy of providing judiciously for scholarships, supported places and bursaries. Combined with continued attention to credit control and costs, achievement of this strategic objective should continue to deliver growing surpluses in the year ahead On this basis. production of these accounts on a going concem basis is considered appn)pri8te. The Governing Council is aware of wider general threats to the independent education sector in a high infl8tion economy combined with major changès in taxation policy IVATI There is little that can be done to slop adverse Changes in public policies. other than to keep informed and to rely on the combined lobbwng efforts of our representative bodies. PRINCIPAL RISKS AND UNCERTAINTIES The Council continues to keep under review the School's aclivilies, the risks that may arise from them and the internal controls, systems and procedures established to manage them. Detailed consideration of risk 15 delegated lo the Risk and Compliance Committee. which meets thrge limes a year and reports formally to the Governing Body. The structure of the Committee comprises two members of the Goveming Council. assisted by Senior Management. The risk management process adopted by the Risk and Compliance Committee identifies major risks, assesses their impact and likelihood and, where necessary. recommends controls to miligale and monitor those risks that are assessed as high. Miligalion measures include ensuring that appropriate Insuran cover is in place to cover any insurable risks identified. The key risks and actions to mitigate those 8reag are as follows: Rlsks Identlfled Mltlgatlon Carefijl financial managementbyGoverTrin8 Council, supported bv Flnante and General Purposes Committeeand bythe Finance Dlrector,. Damage to rEPUtation tromfraud. accident, unsatlsfactory inspertlon reports oradver5p media coverage ARi5kand Compllance Commlttee ofthe Board with speclfic delegated responslbllltyfoTHpalth & Safetymeets three time5 a year and reviews pollcy, practice, and anyincident5 requirlng Board level èttentlon. Contlnuous programme ofcampus securltylmprovements in place The ethos ofthe school i5toact promptly In response to external communScatlDns includingth05e from parent5 Regular revlew ofthe rf$krester bythe Ris*and Complsance Committee RlskA55e5sment5 checked and approved bythe Finance and Facllltles Manager Reducticn in pupil numbers Heavy emphasls on and continuin8 investment In marketln Close involvementofsenlor management In pupil recruitment process., Increased on Improvin8the academ1¢ achSevement of pupils Page 7
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Other risk aspects." The Trustees consider the affordability of fees by parents across the independent sector to be the principal financial risk faced by the School, especially as local competition from other independenl schools MaInS intense. The Govgming Council decided not lo increase the school fee tariff for 202412025. Health and Safety is always a significant area for risk management. The risks generally range from fire and infrastructure to personal risks Imosl notably when away from the campus on trips and expeditions). The level and breadth of activity at the School is impressive and the risks associated with all aclivilies are minimised by thorough planning and risk assessment. FUTURE PLANS 202512026 will bo another challenging year for Priory School, in which we will continue lo build on our financial recovery. Plans include.. Seeking lo build up pupil numbers again throughout the school by use of intensive marketing initiatives Optimising the use of the of all school buildingslspace Securing a high cohort value for pupils at the main entry points Iprincipally Year 7) Continuing to manage our 8Statg in a cost-8ffective way Using the School grounds where possible for development of the outdoor curriculum., Ensuring our cashflow is rigorously monitored to allow the school to function and meet ils obligations To develop plans further for creating additional income streams that does not rely solely on tuition income Working extensively to ensure our staffing Costs are in line with the needs of the school and financial viability Page 8
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A Company Ilmited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES The trustees {who are also th8 diroclors of Priory School for the purposes of company lawl are responsible for preparTng the Annual Report and the financial statements with applicable law and United Kingdom Generally Accepted Accounting Practice Iunited Kingdom Accounting Standards). Company law requires the trustees to prepare financial statements for each financial year. Under that law Ihe trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitsble company and of the incoming resources and application of resources for that period. In preparing thes@ financial statements, the Goveming Body members are required to= select the most appropriate accounting policies and then apply them consistently. obseNe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent,. stale whether applicable Accounting Standards have been followed, subjeGt lo any material departures disclosed and explained in the financial statements.. and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable companys transactions, disclose wth reasonable accuracy al any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charitys conslrtution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. Relevant Audlt Infomiatlon Insofar as each of the Directors. as members of the Goveming Body, al the date of approval of this report is aware there is no relevant audit infomialion of which the CoMpanS auditor is unaware. Each member of the Goveming Body has taken all the steps that he or she should have taken as a member of the Goveming Body in order to make himself or herself aware of the r&levant audit inforynation and to establish that the Companrfs auditor is aware of that information. Approved by the Governing Council of Priory School Edgbaston including, in their capacity as company directors, approving the Directors, and Strategic Reports contained herein, and signed on ils behalf by: Mr S Brereton Chair of Governing Council Dal Page 9
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED Oplnlon We have audited the finanryal statements of Priory School Edgbaston Trustees Limited Ithe 'charitable compan) for the year ended 31 August 2025 which comprise the Stalemerrt of financial aclivilies, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable 12w and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, {Uniled Kingdom Generally Accepted Accounting Practicgl. In our opinion the financial statements.. give a true and fair view of the stste of the charitable companvs affairs as al 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended.. have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Pradice; and have been prepared in accordance with the requirfyments of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS (UK}} and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial stslements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo 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. Material uncertalnty related to going concern We draw attention lo note 2.2 in the financial statements, which indicates the conditions identified that may cast significant doubl on the charitable company's ability lo continue as a going concern. Potential low points in cash flow forecasts create a risk that should unexpected delays in receipt of fees, reduction in pupil numbers or unexpeded costs occur the School cash resources might be insufficient. As staled in note 2.2. these avents or conditions indicate that a material uncertainty exists that may cast signrficant doubl on the charitable companls ability lo continue as a going concem. Our opinion is not modified in respect of this matter. In auditing the financial statements, we have concluded that the TTUStees' use of th& going concern basis of accounting in the preparatlon of the financial statements is appropriate. Our responsibilities and the responsibilities of Ihe Trustees with SpeCt to going concern are described in the relevant sections of this report. Page 10
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A company limited by guaranteg} INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (CONTINUED) Other information The other infomation comprises the infomiation included in the Annu81 report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within th8 Annual report. OL¢r opinion on the financial statements does not cover the other information and. except to the extent olhemse expliciuy staled in our report, we do not express any form of assurance conclusion Ihereon. 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 course of 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 misstalomenl in the financial statements themselves. If, based on the work we have performed, we conclud8 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 Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomialion given in tha Trustees, Report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, Report has been prepared In a¢cordaniE with applicable legal requirements. Matters on whlch wo aro roqulred to report by ex¢eptlon In the light of OUT knovledge and understanding of the charitable company and Ils ènvironment obtainod in the urse of the audrt, we have not identified material misstatements in the Trustees, Report. We have nothing to report In respect of the following mallers in relation to which Companles 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 llot been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums., or Certain disclosures of Trustees, remuneration specified by law are not madg., or we have not received all the information and explanations we require for our audit., or the Trustees were not entided to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the TTUStees' Report and from the requirement to prepare a Strategic Report. Page11
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA Gompany limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PRIORY SCHOOL EDG8ASTON TRUSTEES LIMITED ICONTINUEDI Rgsponslbllltles of Trustoes As explained more fully in the Trustees. responsibllities ststement, the Trustees (who are also the directors of the charitable company for the purposes of company lawl 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 stalemenls, the Truste8s are responsible for assessing the charitable companws ability lo 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 lo cease operations, or have no realisti¢ alternalive bul to do so. Auditorfs responsibilitigs for the audlt of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due lo fraud or error, and lo 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 delecl a material misstslement when il exists. Misstatements Can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatemenls. Irregularities, including fraud, are instances of non-compllance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delect material misstatements in respect of irregularities, including fraud. Th8 extent to which our procedures are capable of detecting Irregularities, including fraud is det8iled 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 stalemenls. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation. together with the Charities SORP {FRS 102}. We 8ssessed the required compliance with these laws and regulatlons as part of our audit procedures on the related financial statement iterns. In addition, we considered provisions of other laws and regulations that do not have a direct effect on thg financial statements but compliance with which might be fundamental to the charitable company's ability to operate or lo avoid a material ponalty. 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 Educatlon Ilndependenl School Standards) Regulations 2014. Auditing standards limit the required audit procedures lo 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 identified the greatest risk of material impact on the financial statements from irregularities. including fraud, to be the override of controls by management. Our audit prOdureS to respond lo these risks inclsjded enquiries of m8nagomenl, and the Finance & General Purposes Committee about their own identification and assessment of the risks of irregularities. sample testing on the posting of journals. revièwing accounting estimatas for biases. reviewing regulatory correspondence with the Charity Commission. Independent Schools Inspectorate, Ofsted and reading mlnutes of meetings of those charged with govemance. Page 12
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA cornpany limited by guaranteg) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED ICONTINUEDI Because of the inherent limitations of an audit, there is a risk that we will not delecl all irregularities, including those leading to a material misslatemenl in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and tr8nsa¢lions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud Involves intentional concealment. forgery, collusion. omission or misrepresentation. A further description of our rgsponsibililies for the audit of the financial statements is located on the Financial Reporting Council's website at.. ww.frc.or .uklaudilorsres Auditoffs report. onsibilities. This description forms part of our Use of our report This report Is made solely to the charitable CoMpanS members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable companls members those matters we are required lo slate lo them in an Auditols report and for no other purpose. To the fullest extent permitted by law. we do not accept or assurne responsibility to anyone other than the charitable company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. Helen Blundell LLB FCA FCIE DChA (Senlor statutory audltor) for and on behalf of Crowe U.K. LLP Slalutory Auditor Black Country House Rounds Green Road Oldbury West Midlands B69 2DG Dale.. 8 May 2026 Page 13
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (Acompany Ilmlted by guarant99) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted funds 2025 Total funds 2025 Total fijnds 2024 Note Income from: Donations and legacles Charitable activities.. School fees receivable Anci118ry trading income Other trading activities Investments 150 150 4,436,091 309.290 10,270 3.954 4,436.091 309.290 10,270 3,954 4.580. 164 318,888 8,893 9,630 Total Income 4,759,755 4,759,755 4.917.575 Expendlture on: Raising funds Charitable aclivili8s 43,521 4.940.878 43.521 4.940,878 59.370 5.283,732 10 Total expenditure 4.984.399 4.984.399 5,343, 102 Net movement In funds (224.644) {224.6441 (425,527) Reconclllatlon of lundg: Total funds brought forward Net movement in funds 1,084.366 {224,644) 1,084,366 1224,644) 1,509,893 (425,527) Total funds carrled forward 859,722 859.722 1,084,366 The Statement of Financial Activities includes all gains and losses rgcogniyed in thg ygar. The noles on pages 17 to 30 fom) part of these financlal statements. Page 14
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A company Ilmlted by guarantee) REGISTERED NUMBER: 02042309 BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Nots Flxed assets Tangible assets 13 788,082 931,675 Current assets Debtors 14 1,861,257 318,876 518,552 380,949 Cash at bank 8nd in hand 2,180,133 899,501 Currant Ilabllltlos Creditors.. amounts falling due wlthln one year 15 (2,108,493) (746,810) Net current assets 71.640 152,691 Total net assets 859.722 1,084,366 Charlty funds Unrgstrittted funds 19 859,722 1,084.366 Total funds 859.722 1,084,366 The Trustees acknowledge their responsibilities for complying with the requirements of the Act wTrth respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance wth the provisions applicable to entitiés subject to the small companies regime. The financial stslements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mr S 8rereton Ichairl Dale: The notes on pages 17 to 30 fomi part of these financial statements. Pago 15
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A ¢ompany lirnitgd by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Notg Cash flows from opgrating actlvltles Net cash used in operating activities 20 (1.656) {86,524) Cash flovrn from Investlng actlvltle$ Payment for tangib19 fixed assets Investment income and bank interest received 120,850) (759,364) 3.954 9.630 Not Cash used In Investing activities 116.896) (149,734) Cash Ilows from flnanclng activities Finance costs paid {43,521} (59,370) N6t cash u$gd in flnanclng activitios {43.521> (59,370 Change In cash and cash equivalgnts In the year Cash and cash equivalents at the beginning of the year (62.0731 {295,6281 380,949 676,577 Cash and cash equlvalents at the end of tho year 21 318.876 380.949 The notes on pages 17 to 30 form part of these financial statements Page 16
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 General Information The School is registered as a charity in England and Wales and a company limited by guarantee. It was Incorpordted on 30 July 1986 (company number. 2042309> and registered as a charity on 6 October 1986 {charity number: 5180091. The registered office and principal place of business is 39 Sir Harrfs Road, Edgbaston, Bimiingham, B15 2UR. Ils principal activity is provision of sthooling. Accounting pollcles 2.1 Basis of preparatlon of financial statgmonts The financial stal6ments have been prepared in accordance with the Charities SORP {FRS 102) - Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. The school meets the definition of a public benefit entity under FRS 102. The functional Curren of the School Is considered to bo sterling because that is the currency of the primary economic environment in which the School operates. 2.2 Golng conc8rn The Trustees assess whether the use of going concem is appropriate, i.e. whether there are any material uncertainties related lo events or conditions that may cast significant doubt on the ability of the Trust lo continue as a going concern. The Trustees make this assessment in respect of a period of a least one year from the date of aulhorisation for issue of the financial statements. The year ended 31 August 2025 has resulted in a deficit for the school for a number of reasons and this has had the effect of reducing the level of reserves available to withstand any future deficits. The school has worked tirelessly to become as efficient as possible, and the year-end deficit has reduced compared to the previous financial year. The cash ftow forecasts which cover the period of the next 12 months from point of approval of the financial statements show a potential low point in cash flow and that there is a risk that if there were to be any unexpected delays In receipt of fees, reduction In pupil numbers or unexpected costs, the School cash resources might be in5ufficienl. The introduction of VAT for Independent Schools is an addition81 factor contributrng to the impact of lower pupil numbers within the school but also wlhin the wider Independenl School sector. The Trustees and management havo already taken adions to mitigate the risk which includes careful monitoring of costs. rigorous monthly management of cash flows, monitoring pupil numbers and structuring of operations. The school has also Started lo look exlensively at staffing in respect of the significant cost basis lo ensure il matches the pupil numbers and is financially viable. The Trustees and managemellt are satisfied from their review of budgets and forecasts and their agreed action plans that il remains appropriate to prepare the financial statements on a going concern basis, but recognise that as a consequence of reduced reserve5 there remains a continued material uncertainty which is not wholly in the direct control of thg Trustees and which could impact the financial viability of the school. Page 17
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A company Ilmltod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Aceountlng pollcles Icontlnuedl 2.3 Fees and similar garngd inGome Fees receivable and charges for services and use of Ihe premises, less any allowances, scholarships, bursaries granted by the School against those fees, bul including contributions received from restricted funds, are accounted for in the period in which the seNice is provided. Fees receNed in advance of education to be provided in future years are treated as deferred income and induded within creditors. 2.4 Donations.1ggacles, grants and other voluntary Incomlng resources Voluntary incoming resources are accounted for as and when entiement arises, the amount can b8 reliably quanliffied and the economic benefit to the School is considered probablo. Voluntary income for the School's general purposes is accounted for as unrestricted and is credited to the General Reserve. Where the donor or an appeal has imposgd trust law restrictions, voluntary income is credited to the relevant restricted fund. 2.5 Expendlture Expenditure is accrued as soon as a liability is considered probable, discounted lo present value for longer-lerm liabilities. Expendiluie attribulab5e lo more than one cost category in the SOFA is apportioned lo them on the basis of the eslimaled amount attributable lo each activity in the year, either by reference lo staff time or the use made of the underfying assets, as appropriate. Irrecoverable VAT is included with the item of expenditure to which il relates. Grants awarded are expensed as soon as they become legal or operational commitments. Governance costs comprise the costs of complwng with constltulJon81 and statutory requirements. Page 18
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA ¢ompany limitgd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policies (continugdl 2.6 Tanglble flxed assets and d9pro¢iatlon Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits ar8 probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost mi)del, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. using the straighl-line method. Dèpreciation is provided on the following bases.. Leasehold Improvements Fixtures, Fittings & Equipment - 5 10 20 years 310 10years 2.7 Debtors Trade and other debtors are rgcognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes Cash and short term highly liquid investments with a short maturfty of three months or less from the date of acquisition or opening of the deposit or simllar account. 2.9 Creditors and provisions Creditors and provisions are recognised where the School 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 lo settle the obligation can be measured or eslimaled reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 2.10 FTnancial Instruments Basic financial instruments are initially recognised al transaction value and subsequenuy measured at amortised cost. Financial assets held at 8mortised cost comprise cash at bank and in hand. together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubl. Financial liabilities held al amortised cost comprise all creditors except social security and other taxes and provisions. 2.11 Fund accounting The charitable trust funds of the school are accounted for as unrestricted or restricted income. Unrestrfcted income belongs to the Schools, corporate reserves, expendable at the discretion of the Trustees either to further the School's Objects or lo benefit the School itself. Where the Trustees decide to set aside any part of these fijnds to be used in future for some specific purpose. this is accounted for by transfer to the appropriate designated fund. Page 19
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company Ilmlted by guarantgel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles (contlnued) 2.12 Pgnsion costs Retirement benefits to employees of the School who are teachers are provided through a defined benefit scheme. The pension costs charged in the Statement of Financial Activities are delemiined as follows: The Teachers, Pension Scheme- This scheme is a multi-employer pension scheme. It is not possible to identify the Schools, share of the underlying assets and liabilities of the Teachers, Pension Scheme on a consistent and reasonable basis and therefore, as required by FRS102, accounts for the scheme as rf it were 8 defined contribution scheme. The Schools. contributions, which are in accordance with the recomrnendations of the Government Actuary, are charged ill the period in which the salaries to which they relate are pay able. AVIVA APTIS Penslon Scheme. Is a defined conffibution scheme. See Note 17 for further detalls. 2.13 Operatlng leases Rentals under operatlng leases are charged on a str8ight-line basis over the lease term, even If the payments are not made on such a basis. Benefits received and receivable as an incentive Io sign an operating lease are similarly spread on a straighl-line basis over the lease term. crftlcal accountlng estlmates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the view of the Trustees, no assumptions conceming the future or estimation uncertainty affecting assels or liabilities al the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. Pagg 20
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from donatlons and legacles Unrestricted funds 2025 Tolal funds 2025 Total funds 2024 Donations 150 150 Charltable actlvlties - Foes ra¢oivablg 2025 2024 School fees Less.. total scholarships and bursaries 5,410.904 {974,8131 5,530, 728 (950,564) 4,436.091 4,580,164 Scholarships. bursaries and other awards were paid to 327 pupils (2024.- 214). Within this means-tested bursaries tolaling £122.767 were paid to 59 pupils12024.' £172, 135 to 19 pupils}. The total income from school fees is all unrestricted in both years. Charitablo adiv5tlos - Other Income 2025 2024 Extras Entrance and registration fees Commissions and other income 270,228 36,924 2.138 265,934 51.428 1,526 309,290 318,888 The total other income is all unrestricted in both years. Page 21
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A company Ilmlted by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Othgr tradlng actlvltles Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Lettings Other 10,270 10,270 4,171 4, 722 10,270 10.270 8,893 Inve$tment income Unrestricted funds 2025 Total funds 2025 Total funds 2024 Bank Interest 3,954 3,954 9,630 Flnanc8 and other costs Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Bad and doubtful debts Bank charges 33,515 10,006 33.515 10,006 46.670 12,700 43,521 43.521 59,370 Page 22
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10. Analysls of expendlture on charitable activitlés Summary by fund type Unrestricted fund5 2025 Total 2025 To181 2024 Teaching Welfare 3,248,983 411,884 744.392 535,619 3,248,983 411,884 744,392 535,619 3,378,213 503,399 808,243 593,877 Premises Support costs and governance 4.940,878 4,940,878 5,283,732 Summary by •xpgnditure type Staff costs Depreclatlon Other costs 2025 2025 2025 Total 2025 Total 2024 Teaching Welfare Premises Support costs and governance 2,993,698 255,285 411,884 294,561 189,073 3.248,983 411.884 744,392 535,619 3.378,213 503,399 808,243 593,877 285,388 346.546 164,443 Total 2025 3.625.632 164,443 1,150,803 4.940,878 5,283, T32 Total 2024 3,803,302 168,335 1,312.095 5,283, 732 Govomanco Costs included in support costs". 2025 2024 R8muneration paid to auditor for audit SeTvices Statutory accounts production Other govemance costs 12,650 11,825 875 44,006 13,590 56,706 Page 23
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 11. Staff costs 2025 2024 Wages and salaries Social security costs Contributlon to defined contribution pension schemes 2,887,146 307.353 431.133 3,094,420 278,990 429,892 3,625.632 3,803,302 Included within wages and salaries is supply staff costs which amounted to £1,450 (2024.. £127,610)- Aggregate employee benefitg of key management personnel £769,173 (2024.- £720,708). Redundancy costs of £27,590 (2024.. £Nil) wore paid during the year. There was £6.451 (2024 - £Nil) outstanding al year end. The average number of persons employed by the Company during the year was as follows.. 2025 No. 2024 No. Teaching Other activities 82 18 85 21 100 106 The number of employees whos8 employee benefits (excluding employer pension costs) exceeded £60,000 was: 2025 No. 2024 No. In the band £60.001- £70,000 In the band £70,001- £80,000 In the band £150,001- £160,000 12. Trustees. remuneration and expenses During the year, no Trustees received any remuneralion or other benefits {2024 - £NIL). During the year end8d 31 August 2025. expenses totalling £215 (2024 - £NilJ were relmbursed or paid directly to 1 Trustee (2024- £NIL to Tnjsteg). Page 24
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13. Tangible flxed assets Fixtures. Fittings & Equipment Leasehold lrnprovements Total Cost or valuation Al 1 September 2024 Additions 2.100.947 4.985 927.839 15,865 3,028.786 20.850 At 31 August 2025 2,105.932 943.704 3,049,636 D9preclatlon At 1 September 2024 Charge for the year 1,330,583 158,729 766.528 5,714 2.097.111 164.443 At 31 August 2025 1.489.312 772.242 2,261.554 Net book value At 31 August 2025 616,620 171,462 788.082 At31 August 2024 770,364 161,311 931,675 14. Debtors 2025 2024 Trade debtors 1,761,891 59,004 40,362 414,305 17.740 86,50T Other debtors PrepayTnents and accrued income 1,861.257 518,552 An impairment loss of £33,515 (2024.. loss of £46,670) was rgcognised against the School Fe8s debtors during the year. Page 25
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA company Ilmited by guaranloo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. Crgditors: Amount$ falling due wlthln one year 2025 2024 Deposlts from parents Trade creditors Fee's rgcaived in advanced Taxes and Social Security Cost Deferred income Isee note 161 Accruals and other credltors 139,046 74,747 206,634 338,200 1.218.414 131,452 136,946 156,478 230. 155 74,013 t5,870 133,348 2,108,493 746,810 16. Defgryed Incorne 2025 2024 Balance as at 1 September 2024 Amounts released to incoming resources Amounts deferred in the year 15,870 221,085 {15,870) (221,085) 1,218,414 15,870 Balance as at 31 August 2025 1.218,414 15,870 Deferred Income comprises of school fees billed in advanced. Page 26
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17. Pènslon commitments Teach8rs' Pgnsion Scheme The School participates in the Teachers. Pension Scheme (England and Wales) Ilhe TPS'I for ils leaching staff who joined pre 1 September 2022. The pension charge for the year includes contributions payable lo the TPS of £256,067 (2024.. £268,037) and at the year-end £28.409 {2024.- £33,603) wa8 accrued in respect of contributions to this scheme. The TPS is an unfunded mulli-employer defined benefits pension scheme governed by The Teachers, Pension5 Regulations 2010 las amended) and The Teachers. Pgnsion Scheme Regulations 2014 las 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 fLJnds provided by Padiamenl. The employer contribution rale is set by the Secretary of Stale following scheme valuations undertakon by the Govemment ACtuaS Department. The most recent actuarial valuation of the TPS was prepared as al 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn. The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.080A giving a total employer contribution rate of 28.680/0. NOW Pansion scheme The school participates in the NOW pension scheme for its non-teaching staff. The pension charge for the year includes contributions payable lo the NOW of £40,883 (2024.. £41,966) and al the Yearnd £4,558 (2024.. £4.098) was accrued in respgct of contributions lo this scheme. AVIVA APTIS Pension scheme The school participates in the AVIVA APTIS Pension scheme for ils teaching staff. All teachers joining on or after 1 September 2022 will automatically be placed onlo the APTSS scheme with an employer contribution rate of 17ts/0. The pension charge for the year includes contributions payable to the AVIVA APTIS of £133,624 (2024.- £107,264J and at the year*nd £9,421 (2024.- £17,079) was accrued in respect of contributions lo this scheme. Page 27
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED IA Gompany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. Opgrating lèase commltments At 31 August 2025 the Company had commitments to make future minimum lease payments under non- cancellable operating leases as follows.. 202S 2024 Not later than 1 year Laler than 1 year and not later than 5 years Later than 5 years 10.250 18,000 153,000 14,537 30,609 157,500 181,250 202,646 The followng lease payTnents have been recognised as an expense in the Statement of financial activities.. 2025 2024 Operating lease rentals 10,250 14.537 Page 28
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 19. Statoment & summary offunds Balancg at 1 September 2024 Balance at 31 August 2025 Income Expondlture Unrestricted funds General Funds 1.084,366 4.759.755 14,984,399) 859,722 ststoment of funds- prior year Balance at I September 2023 Balance at 31 August 2024 Incom8 Expanditure Unrèstrictsd funds General Funds 1.509,893 4,917,575 (5.343,102) 1.084,366 There wer8 no restricted funds held in the current year or prior year. 20. Reconciliation of nat movemènt In funds to net cash flow from operating actfvities 2025 2024 Net expenditure for the year (as per Statement of Financial Activities) 1224,644) (425.527) Adjustments for.. Investment income Finance costs Depreclalion charge Increase in debtors Increase in creditors lexcludlng fees in advance and deposit) Increase in fees in advance scheme eredilors Increaselldecrease) in parents deposits (3,9541 43,521 164,443 11,342,705) 180,560 1.179.023 2.100 (9,630) 59,370 168,335 (23.728) 141.366 23.970 (20,680) Net cash used In operating activities 11.656) (86.524) Page 29
PRIORY SCHOOL EDGBASTON TRUSTEES LIMITED {A company Ilmltod by guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 21. Analysis of cash and cash gquivalènts 2025 2024 Cash in hand 318,876 380,949 22. Analysls of changes In ngt debt September At31 2024 Cash flows August 2025 Cash at bank and in hand Fees in advance 380.949 (230,155) {62,073} 23,521 318,876 1206.634) 150,794 138,5521 112,242 23. Contlngent assets Priory School Edgbaston are entltled to recover VAT on certain historical asset purchases, the valu9 of this claim has not been quantified as al year end. 24. Related party transa¢tions The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing beeen related parties and the Company at 31 August 2025. Page 30