REGISTERED COMPANY NUMBER.. 00888176 (England and Wales) REGISTERED CHARITY NUMBER: 525924 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 FOR WILMSLOW PREPARATORY SCHOOL TRUST LIMITED Clarke Nicklin LLP Chartered Accountants and Statutory Auditors Clarke Nicklin House Brooks Drive Cheadle Royal Business Park Cheadle Cheshire SK8 3TD
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Paga Report of the Trustees 1 to 17 Report of the Ind•pen(l&nt Audltors 18 10 21 Statement of Flnanclal A¢tlvltlo$ 22 Balance Shaat 23 10 24 Cash Flow Statement 25 Notes to the Cash Flow Statement 26 Notes to the Financial Statements 27 to 36 Detailed Statemènt of Flnan¢lal Actlvltlgs 37 to 38
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 The Governors who are also the members and directors for the purposes of the Companies Act 2006, present their report, which includes the Report ol the Directors,, rith the financial stalemenls of the ¢harily for the year ended 31 August 2025. The trustees. referred to as Governors, have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effe¢live 1 January 20151. OBJECTIVES AND ACTIVITIES Objective In accordance wth its objects, the actiwty of the Trust is the educational development of pupils at the Wilmslow Preparatory School (VVPSI, providing full-lime education lo pupils aged 5 10 11. Full or part-lime education is provided to pre-Receplion children from the age of 3. The School's overall objective is lo.. 'offer acadernic and creative excellence in a caring. respectful and slimulaling environment.. Aims The School's specific aims are then identified as the followng.. To provide academic excellence through a broad, balanced and varied curriculum., To ensure that our pupils develop lively, enquiring and Creative minds., To value each boy or girl as an individual so as lo maximise his or her potential and confidence., To offer a safe, kind and caring environrnenl., To encourage self-respect and respect for others. These are then underpinned by a number of key business objectives as follows.. To sustain financial viability, by maintaining pupil numbers and ¢onlinually reviewng expenditure items in order to control ¢osls'. To recruit and retain high calibre staff. between them bring broad teaching experience, a variety of creative skills and strong management and technical skills., To maintain our premises and buildings lo a high quality lo assist the above educational aims to be achieved. In setting our specific objectives and planning our activities for the academic year 2024125. our Governors continued to be mindful of the Charity Commission's general guidance on public benefit. Our particular objectives for the year included.. To support our parents with the introduction of VAT on fees, To focus on pupil retention and recruilmenl in this period of change, To provide continuing support of our pupils already in re¢eipl of fee assistance through bursaries, To reviewjoinl working opportunities with local stsle junior school, To further enhance and develop our Information and Communications Technology IICTI strategy to ensure we deliver our teaching though up-lo-dale methodologies and equiprnent, To continue to explore opportunities for working collaboratively with King's School Macclesfield through our slralegiG partnership arrangements, To worf( towards maintaining our previous excellent inspe¢fjon outcomes wthin the new Inspection Framework, To continue lo develop our role in the life of our local community through our charitable and community aclivilles. whilst adding lo the alkround education of our pupils. Page 1
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 OBJECTIVES AND ACTIVITIES Strategy* Ethos, Access. Edu¢atlonal Llnks and Bursary Policy Strategy The Governors are responsible for agreeing a sirategy lo achieve our obje¢lives. The focus of our strategy is on the continued developmenl of our pupils. so that each ¢hild achieves hislher polenlial, through high levels of academic and extra-curricular achlevemenl, and to further wden access lo the education our School provides. Our ethos We aim lo be a happy, caring school, whKh creates a strong sense of community and seeks to serve the local community and society. WPS is a charitable Irusl, which seeks lo benefit the public through the pursuit of ils slated aims. Our fees are sel at a level lo ensure the financial viability of the School and al a level that is consislenl wlh our aim of providing a firsl-¢lass education to our pupils. Our School welcomes pupils from all backgrounds. To admit a prospective pupil we need lo be satisfied that our School will be able lo edu¢ale and develop such a pupil lo the best of hislher potential and in line wlh the general standards achieved by hislher peers. There 15 no assessment for entry into our pre-school or Reception years, informal assessment and interview for the Infants {forrns Prep 1 and 21. and more formalised interview and assessment for entry into the Juniors (forms Prep 3 61. These methods help us lo satisfy ourselves and parents that potential pupils can cope wlh the pace of learning and benefit from the education we provide. An individual's economic status. ethnicity, race, religion and in most cases, disabilily do not form part of our assessment processes. Our School is committed lo safeguarding and promoting the welfare of our puplls and expects all staff and volunteers lo share this commitment. Our most recent inspection by the Independent Schools. Inspeclorale IISII look place in November 2024. The role of the team of inspectors is lo assess and report on the extent lo which the School meets the Independent School Standards {'Ihe slandard'l in the Schedule to the Education {Independent School Standards) Regulations 2014. The visiting team rigorously and exiensively analysed all aspects of WPS including lesson observations, inteNews wlh senior leaders. governors, teaching and non-leaching stsff and pupils, reviews of processes and procedures, and feedback from parent, pupil, and staff questionnaires. We are delighted that the inspection report identifies that WPS meets all ol the standards and is highly positive with regard to the quality of education, pastoral provision, safeguarding. pupils, contribution to society and leadership at Wilmslow Prep School. With regards lo pupil welfare the inspection report comments Ihat'leaders diligently identify the needs of each pupi5 and prtsmole their well-being,. Parents are given regular information about their child's social and academic progress through parents, evenings, in addition lo the traditional end of term and year reports. We maintain regular contact wf(h parents throughout the year through informal contscl and through our weekly newsletter. All pupils have a Form Tutor responsible for pastoral care and academic development. We also have a system of 'buddies' who are involved in assisting leaching staff in enforcing our very vigorous anti-bullying policy. Robust strategies are used lo support the overall well-being of our pupils. We are an equal opportunity organisalion and are committed to a working environment that is free from any form of discrimination on the grounds of colour. race, ethnicity, religion, sex, sexual orienialion or disability. We wll make reasonable adjustments to meet the needs of staff or pupils who are or become disabled. Access 11 is important lo us that the first Class education we offer is not reslricled lo those can afford our fees, and we believe th81 our pupils benefit from learnlng wlhin a diverse comrnunily, through social interaction and shared experiences, which helps develop each individual's wider understanding. Page 2
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 OBJECTIVES AND ACTIVITIES Educatlonal links Our School is part of a wider ¢ommunity and we are keen that our stsff and pupils participate in that. We offer our facilities for a variety of sporting development activities for ¢hildren from other schools through sport fixtures and are constantly looking lo develop this. We also offer a holiday club during School holiday periods and a Nursery, both through an exlemal provider, and both are open to children from the wder community. We have organised courses where we invite tslher schools to participate, which obviously is beneficial lo them, and specialist teachers meet with others from different schools lo discuss best practice and share ideas. Such meetings are open lo any lo¢al school. Bursary Policy The Governors view our bursary awards as important in helping to ensure that children from families who would otheMise not be able lo afford the fees can access the education we offer. Our School is a small prep school Ihout the benefits of having any18rge endowments, and in funding our awards we have lo be mindful that we musl ensure a balance between fee-paying parents, many of whom make ¢onsiderable personal sacrifices lo fund their child's education, and those benefiting from the awards. Our bursary awards are available lo all meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil's education and future prospects would otherwse be al risk, for example, in the case of redundan¢y. The awards range from 10% 10 900A remission of fees. We also attempt lo supplement bursary awards to pay for extra-curricular activities, equipment and school trips, in particular hardship cases. To emphasise the importance, we place on conlinuily for families, we also offer discounts where parents have more than one child al the School. A discount scheme ere staff members choose lo educate their child at our School is also in place, which we believe can help to attract and relain high quality staff. Information about fee assistance is provided lo all who apply lo WPS. We also advertise the fact that we offer Bursaries through the local press, and in any advert we place, a5 well as on our website. Page 3
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORMANCE Operational performance The lolal number of pupils educated during the year averaged 130. Our fees for 2024125. before the deduction of any bursaries or discounts, and before the introduction of VAT.. Kindergarten £420 per sesslon per week per lemi Infants £4,095 per temi Middle Juniors £4.420 per term Upper Juniors £4,795 per term VAT on school fees was introduced ljy the Government from January 2025. The Govemors took the decision lo support parents fully wlh the cost of the VAT from January- August 2025. TherefoTe, although VAT was added lo fees from January. the School credited all parents with an amount deducted from their fees so that when VAT was added lo their fees invoice. the effect lo parents was no change. Academic performan¢e As noted previously. our most recent Inspection look place in November 2024, vthere we were judged lo have mel all the req4Jired rigorous standards. The new inspection report differs lo that under the previous inspection framework, in that the s¢hool is no longer graded. Instead. the report $lales whether the school Meets the five regulatory standards. WPS met all 5 regulatory standards. In addilion. the WPS report positively noted that 'pupils are articulate speakers and attentive learners. and Ihat'lea¢hers give pupils targets to work towards and provide conslruclive feedback which helps pupils improve,. This year form Prep 6 leavers chose lo sil entrance examinations to Independent Senior Schools, and again achieved an excellent pass rate. Children received muttiple offers. a lolal of 36 offers, across 17 children. lo Mancheyter Consortium schools, which include some of the North West's top schools. Pupils at the School are formally assessed In the Summer Term Iwth Prep 6 being assesseil in the Autumn in preparation for the Senior School exams). Pupils in Ihe Early Years Foundation Slaoe IEYFS, whi¢h incorporates the pre-school and Re¢eplion years). complete informal assessments and PLJpils in Years 1 6 complete fomal assessments in English and Maths, plus Verbal and Non-verbal Reasoning in Years 3 6. to assess academic progress and ability. Currently Ihe School use GL Education Assessments. For the Key Stage 2 pupils lie Years 3 - 61 the English and Maths assessments are completed online and analysed exlemally providing an in-depth analysis of each pupil's performance. The tests are standardised lo a national scale which enable staff lo fully track each pupil's progress, which is communicated regularly lo each pupil's parentlsllguardianlsl. Muslc Music continues lo be an impressively strong feature of Wilmslow Prep life. Over 65% of the children in Prep1- Prep 6 had musi¢ lessons in one or more areas during this academic year. Five professional musicians come in to deliver the instrumental and vocal lessons each week as well as a MLJSIC specialist lo leach curriculum music. In June, we employed a new string teacher, Nicola Bright, to join our team. 76 lessons were delivered each week on 12 instrumentslvoice. To encourage children to PTactise regularly al home. we continued wlh our SLJccesslul pracliGe charts. adding 2 further levels due to demand. This system continues lo be very positively received by children and parents and the instrumental teachers. We continued lo use our set of plastic wnd instruments so that all the children in KS1 could try out an inslrumenl in their curriculum lessons wthout having lo commit 10 1..1 lessons. We are hoping to extend this to give pupils a chance lo try string instruments next lo develop our School orchestra. Page 4
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORMANCE Music Icontinuedl Music clubs included Chamber Choir and School Orchestra. Each of these groups perfomied al the Carol Concert and at Speech Day. Our Music Pupil Ambassadors als0 ran a club for Prep 3 and under. Two further Choirs were established for the Alderley Edge Festival. We were successful in achiewng Silver Artsmark status, a superb achievement. giving our children many arts opportunities in and out of School. 25 members of the School Orchestra performed wlh the Halle. The older children went on a trip lo see the musical Wicked. Al Christmas. Kindergarten and Reception performed 'Our Very Own Nativity, and Prep 1 and 2 performed 'Fleece Force., We returned to the Church for the splendid Carol Concert. We also went carol singing across the road al Canterbury Grange, lo Carrs Court and through the town centre on the last day of term. The Chamber Choir were invited once again lo lake part in the Christmas Event al Tallon Hall. Each year we have an internal House MLJSi¢ Competition and this year we had 71 performances from 57 childn. We were delighted to welcome back a professional musician as adjudi¢alor. She thoroughly enjoyed listening to all the tslented musicians and she was particularly pleased lo see so many performers. OLJr Prep 3 and 4 PLJpils prepared their show called 'Pirates versus Mermaids., There is mu¢h lalenl across these two classes and many budding drama and music students lo look out for in the years lo come. For Aldedey Edge Festival this year, we entered 3 Choirs. winning two first places and a second place. 38 children were in the choirs from Preps 3, 4, 5, and 6. There were excellent individual perfomiances with 41 entries. 12 of our pupils, gained places in the lop three 4 x 1st. 3 x 2nd, 5 x 3rd. In total, 58 children were involved in the Muslc sections. 27 Pupils took Musl¢ Trinity Exams this year.. 14 achieved a dislincllon, 9 a merit and 4 a pass. Two pupils reached Grade 4. Our younger pupils had many perform3n¢e opportunities two Nativities, Mother's and Falherfs Day events, an Easter Bonnet Parade. Barnardo's Big Toddle and their own Speech Day. Prep 5 and 6 performed their show in July - The Lion King. We set the standard in 2024 with Bugsy Malone and rose even higher this year with a truly memorable performance. Speech Day was another delightful occasion and once again there were many memorable performances from our fabulous musicians. Page S
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORMANCE Sp&ech & Drama Speech and Drama is taught as part of the timetable to all children from Reception upwards and continues to go frorn strength lo strength. KG are involved in a number of our ole school events and special dayslassemblies including their Christmas Nativity Show wlh Reception. Our Learning Ambassadors (ln Prep 61 speak al a range of special occasions to introduce these events. which gives them a wonderful experience of publi¢ speaking to a large audience. In 2023124 we introduced a mental health ambassador whose role included a range of SponSIbl1111eS including overseeing community events with the Speech and Drama coordinator and helping lead assemblies. Then in 2024125 we introduced a drama ambassador who uill share the above roles and will also help to lead the drama club. During the year, all the Chlldren had the opportunity to lake part In a production either at Christmas, Easter or al the end of the Summer Temi, as well as during particular assemblies. We also again entered festivals su¢h as the Alderley Edge Festival, as well as the English Speaking Board IESB} examinations. A very high proportion of our children entered the Aderley Edge Festival and 17 children received 1st lo 3rd placings. Children in Prep 3-6 entered the ESB examinations with an exceptional number achiewng distinction and all achieving a merf(, merit plus or distinction. which was a truly excellent outcome. The children continued lo benefit from participation in events such as the Carol Service and Speech Day, whlch are ahNays real highlights ol the School Calendar. We continue lo expand our events for Artsmark after achieving Silver award. Artsmark weeksldayslevents took place in¢luding wel¢oming into School visitors for our Diwali week, and also taking the children out of School, for example, by expanding connections wth our local theatre, The Green Room. We also had a theatre trip to the pantomime at The Stockport Plaza in Autumn Term 2025. We have extended our community links even further this year linking wlh a local care home. Prep 3 have already visited, creating a lime capsule wth some of their residents. Evidence shows the many positives for mulligenerational links and we look fonNard lo our next visit. Page 6
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORMANCE Sport Here al WPS we encourage physical exercise alongside healthy competition. Our pupils lake part in 8 lde range of ball and ra¢quel sports which includes football, netball, ho¢key and tennis. We field teams from Prep 3 upwards and our results reflect the hard work and commitment of the children who always lake part with great enthusiasm. We also do gymt)aslic$ and dance which in lum helps support the other activities the children take part in. During the academic year we lake part in many of the ISA competitions which allows us lo compete further afi'eld against many different schools. some of which are mu¢h larger than us and this in turn, if we are successful gives the chil(Jren the opportunity lo represent the North in national competitions. In the Summer term our Prep 3 girls won the North U8 Alhlelics trophy after two of them finished 1 st and 2nd in the 60m sprint and then the relay team also finished 1st. We also offer a wide range of sporting a¢tivilie$ through extra-curricular clubs, these have included cricket, tennis. hockey, netball, yoga, judo and fencin9. Here al WPS we continue lo thrive our sport. Art As with 311 the arts, this disapline 18 held in high regard at WPS. Our art and design and technology curri¢ulum at aims to give children the opportunity lo learn how lo handle and use a wde range of tools and materials skilfully to produce work in different forms that reflect their observational skills and imaginations, as well as the wder Primary curriculLJm. We consider that every child is enlilled lo a full. varied and balanced art education. We believe that a high-qualily art and design education should engage, Inspi and challenge pupils, equipping them ilh the knowledge and skills to experiment, invent and create their own works of art, craft and design. As pupils progress, they are en¢ouraged lo think critically and develop a more rigorous understanding of art and design. They learn how art and design both reflecl and shape our history. and contribute to the culture. eativity and wealth of our nation. This year was our second year of our'Artsmark' joumey. We planned exciting 'Artsmark Activities, throughout the year which Culminated wlh our performance of 'The Lion King,. All the children throughout the school became involved designing and rnaking African animal headdresses 1¢h they all wore for their 'Animal Parade, and watched the performan¢e of'The Lion King, by Prep 5 and 6. This year we involved the children even more in the production aspects of the play as they became involved wlh making scenery and props. We also had an ex pupil visit the school who impressed the children with her artwork making beautiful birds of prey for the play. Again, this year we were successful in the ISA Art Competition wlh one of our entries being forwarded to the National Competition. Page 7
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORMANCE Community Involvement Wilrnslow Preparatory School pupils are actively encouraged to engage in charitable work and fundraising. Our School Council representatives gather ideas from their peers to discuss al their weekly meetings, during which the decision 15 made on which charities lo support and how lo do so. The termly calendars are sprinkled with the various charity activities our pupils have decided lo support. Pupils are involved in raising money for The Poppy Appeal, Macmillan, and Barnardo's. They also take part in Children in Need and Red Nose Day fundraisers each year. Activities lo support these charities include coffee afternoons, cake sales, raffles, Challenges, selling merchandise, and home clothes days. During 2024125 a lotsl of over £3,000 was raised for the various good causes. Each year our pupils take part in a variety of activities linked with our local community. Our Chamber Choir wsil local elderly residential homes each Chrislmastime to sing carols. During the Autumn Temi, our whole School community brings donations for our Harvest Festival which are then donated, via Sl Bartholomew's Church, to Hop& Central, who are dedicated lo bringing hope and relieving poverty in our local area. Towards the end of the Autumn Term, a51 our pupils lake part in a reverse advent calendar, bringing in ilems which can then be donated lo those in need. During the acadernic year, the School supported Mental Health Week, Children's Mental Health Week and Cystic Fibrosi5 Tiust through a variety ol 'dress up, days leg wearing a yellow accessory), raising awdreness and funds for these causes. The School made no political donations. Wilmslow Prep pupils and staff are well kno¥Nn wlhin the communily and the School is renowned for being nIling lo help local businesses and individuals where possible. We see this maller as an extremely important part of the pupils, education, as they interact with those outside the School community and gain a wider understanding of the environment. We have one defibrillator. on an oulside wall. for the benefit of the communily. All staff have received training in the use of defibrillators. and this training is updated, as necessary. Our premises are also used by the wider community. During the School holidays. 'Holiday Zone,, use our main School hall and facilities, to run a holiday Club which is open to all local primary school-age children. Our Sports hall is a popular community facility well used by a number of Ioc81 clubs.11 is now used throughout the year by local Badminton ¢lubs, Wilmslow Football Association, a local adult dance group and a Karate Club. In addition. the local Alpine Society use our School hall on a regular basis for their meetings. A Day Nursery (run by an external provider through a lease agreement) operates on our sile which provides us with a good link lo families with younger children and, through them, with the wder community in general. Environmental Initiatives We lake the education of our young pupils about the wider worfd very seriously and try to set a good example as an organisalion lo help influence the expectations and behaviour of our pupils in their later life. providing public benefit. To ihis end we have introduced a number of environmental inilialives such as recycling of paper, cardboard and compost, and reducing use of plastic and of energy leg electricity). The School Council meet on a weekly basis to discuss new ini113tives both in and out of the classroom on how we can become more aware of the environment and what we can do to support this. The programme is reinforced through our PHSEE lessons as well as through School and Form assemblies. Page 8
WILMSLOW PREPARATORY SCHOOL TRUST UMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORPIIANCE Bulldings In addition to curriculum development, the maintenance and devek)pment of the fabric and facilities of our School are key to our strategy. Over recent years, we have undertaken two key developments, extending and enhancing our entrance hall, and we also developed a mulli-surface Astro pitch alongside our Sports Hall. Pupils and staff enjoy the use of the Astro pitch for lessons as well as for break times, and over the past couple of years we have further developed our outside area around the Sports hall lo provide a Forest School. This is particularly well-used by our Early Years Department and by our onsite Nursery. We have also reorganised our space to provide a larger music room which is used for curriculum music lessons as well 89 1-1 lessons and music pra¢tices eg choir and oroheslra. We have also enhanced the provision of our ICT facilities throughout the School, in line with our Strategic development plan and enhancement programme. We have significantly improved our Wi-Fi access and installed new interactive TVS, IPADS, and Chrome books. We have extended the use of technology in lessons and continue lo review teaching practices with regards lo effective use of ICT. In addition. we have a programme of planned Maintenance throughout the School - further internal redecoialion was carried also out over the last summer break. As noted above, we continue to review our computer facilities and resources on an ongoing basis in order lo keep up to dale for our pupils and staff, with this being a key focus over 2025-2026. Rèview of bursary and discounts awards In 2024125 the value of means tested bursaries lolalled over £214,000 representing almost 14% of lolal fee income, and providing some assistance lo over 35 pupils. We usually help fund the costs of extras such as trips for some of our pupils in receipt of Bursaries. The Governors ¢onlinualty review o(Jr Bursary awards to ensure that we try lo help children, through the availability of means tested financial assistance, who would not olherwse be able lo attend Wilmslow Prep School. Previously lake-up of Bursaries slabilised at around the 20°A level of lolal fee income bul during Covid we did prowde additional short-lerm help to a very small number of families. In the Autumn term 2025, they represented approximately 140h of fee income supporting 25 pupils (some 21.kn of pupil numbers). We are keen lo ensure the objective of wder access is achleved, and our aim lo maintain a rninimum of 120A of total fee income on Bursaries. has already been mel and exceeded. The Governors view our bursaries as important in wdening access lo the first-class education we provide.. as a charity this is important lo the Board. Over the last couple of years. we have made significant steps lo in¢reased marketing of the availability of bursaries, though specific press releases and our website. The su¢¢ess of this ¢an be seen by the additional pupils we now have attending WPS through financial assistance. We continue lo review potential slate school partnership options, especially through our music, sport and language tea¢hing. Future Plans The Governors intend lo continue their strategies of maintaining the School's position in an increasingly competitive market and with a potential re$Sion ahead, by investing lo provide high quality education for our pupils. Achieving a high standard of acadernic results is a Constant aim whilst maintaining the breadth and depth of the edu¢alion provided. Page 9
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORMANCE Future plans Icontinu8dl The Headleacher and senior staff reeW the curricLJlum on an ongoing basis lo ensure that both academic and extra-curricular provision is appropriate for our pupils, development. For example, in 2022123 we introduced a new phonics scheme across the Schotsl lo really enhance pupils. development in this important area even further. In 2023124, our Reading and Comprehension was a real focus and we made adjuslmenls lo our limelable for the provision of additional dedicated reading slots, and in 2024125 we added new resources lo our Classrooms to further enhan the delivery and assessment of creative writing. These continuous developments help lo ensure that our already excellent academic offering in English as a whole subject. has been extended further. The drive and desire for consistent improvement Ihroughoul the School is a key feature of the School's continued success. Traditionally, any future plans have been financed primarily from fee In¢orne and from our reserves and the Board has chosen not lo borrow lo fund projects. However, given the unprecedented limes faced by all in the 2020121 and 2021122 academic years, and with the additional challenges those provided, the Board explored the Government backed loan schemes {ie Boun Back IBBLI and COVID BLJsiness Interruption Loans ICBILII. and made the strategic decision lo lake out the smaller BBL in October 2020. Repayments for this siarted in November 2021, and have been maintained rnonlhly since then, leaving a balance at the end of the 2024125 year of some £12,000. No further borrowing has been undertaken. The Governors will seek lo ¢onlinue to invest in the School to allow our current pupils lo benefit whilst al the same lime ensuring a sound infrastructure and financial base are preserved for the next generation of pupils - just as our current pupils benefit now from reserves and investments made in the past. All developments, recent and historic, have been fInand by reserves, supported latterly by our small BBL. Our medium long term plans include continued redevelopment of our Science facilities and replacing the buildings behind our School hall with a higher specification. iwo-storey construction. FINANCIAL REVIEW Financial position The financial statements show nel incoming resources for the year of £18.47012024 net incoming- £158.1801. Pupil growth and retention remains a key challenge for tho majority of small prep schools, but one lo which WPS conlintjes to respond well. The Govemors and Senior Leadership team ISLTI have a real focus on growth and have introduced some key initiatives such as the Prep Pathway- our unique and clear vision of a child's learning journey al WPS. Our Headleacher and Bursar (the hNo forming the Senior Leadership Team) have worked together to orow our PLJpiI base. Over the past few years, growth in pupil nurnbers hss been evident rith the efforts made resulling in a growing number of referrals through personal recommendations, as well as enquirles from new farllilies. As a ¢onsequence, our pupil numbers have grown and in 2024125 averaged 130 compared to 101 four years previously in 2020121. Our excellent reputation will allow us lo continue lo build on our successes, although we are fully aware of the potential impact of the imposition of VAT on our lees wll have on our parental body. Since the introduction of VAT on fees, nationally the private sector market has a seen a shrinkage so to maintain our pupil base at this sort of level is a refieclion of the School's strong reputation. Governor5 and the SLT continue lo review possible options for supporting parents and we have consulted parents lo gain their constructive input. From September 2020, the School wthdrew from the Government Teachers, Pension Scheme ITPSI. Instead teachers are able lo join a sound defined ¢ontribLJtion scheme, approved by the independent Schools, Bursars. Asso¢iation, thIch allows teachers flexibility on contribution levels according lo their own personal circumstances. This move has also had the benefit of making savings for WPS. as ernployer contributions to the TPS were becoming unsuslainaljle for a small prep school and subsequently placing a burden on fee levels. Page 10
WILMSLOW PREPARATORY SCHOOL TRUST UMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 FINANCIAL REVIEW Principal funding sources The principal funding source during the year was fee income and the key objectives of the charity were supported by expenditure on teaching, welfare and running costs of the School. As a charity. the parents of our pupils have the assuran that all the income of the School is applied for educational purposes. As an educational charity we have previously enjoyed lax exemption on our edu¢alional activities and on our investment income, and these were all fed back into the School's charitable aims. As a charity, until the current lax year. we were entitled lo an 800A reduction on our business rates on our educational property. However, this benefit was removed from private schools from April 2025 which had a negative impact on our finances of around £8,300 for the financial year and wll have a negative impact of around £20,000 on a full year basis. As noted earlier, VAT on school fees was introduced from January 2025. We also pay tsx as an employer through the nab'onal insurance coniributions we make. Investmènt policy The Company has absolute powers of investment of ils corporate reseNes. The Finance sub-committee review investment risks and the policy is to invest in Iow-risk Government Bonds and Unit Trusts. An a¢¢ounl with a slightly higher return is used for day-to-day surplus funds. Investments yielded income of £7,82212024'. £6,803). Page11
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 FINANCIAL REVIEW Rasarvas and financial health The Governors review financial perfomiance al each of their meetings. there is a nominated Finance Governor who liaises ¢losely wth the Bursar al other limes, and also a Finance subcommittee are key in making recommendations to the full Board. In Common with other independent schools, the Govemors have invested subslanlial sums into the School infraslruclure Ilhe most significant recently, being enhancement of our music fa¢iSilies, extension of our onsite Nursery, enlrance hall, and extended development of our sports and playing facililiesl. We also have a continued programme of refurbishment, development and investment to maintain the School's excellent teaching facilities. The excellent maintenance and condition of our buildings were noted by the Inspection Team al our last full qualitative ISI School Inspection (Summer 20171. In addition, as noted eaTlier, all regulatory standards were met in our most recent inspection in November 2024. Reserv8s Policy Traditionally, il has been the policy of the School's Governing Body lo fund all capital projects from reseNes and not to borrow any capital surns. As noted previously, because of the COVID situaiion, the Governors accessed the Government Bounce Back Loan, which we ale now repawng in line with agreed terms. Potential projects are identified in the School's Development Plan and in the past have included.. UP9rades to our ICT resources., redevelopment and refurbishment of our Music facilities., - a new Nursery block., further extension lo the indoor and outdoor fa¢ililies for our onsite Nursery., a new entrance hall and ICT suite., redevelopment of r)ur entrance hall.. a new multi surface sports pil¢h outside our SpLTrrts Hall., - further playground improvements. In addition to continuing to invest in new facilities, the Governors have invested in updates lo tsur current sile, for example, with development and enhancement of our Forest School area behind the Sports Hall, as well as other planned maintenance work, and significant investment in Wi-Fi access. Such works. whilst not necessarily providing a visible Ljplifl, are essential to keep our buildings and our edu¢alion provision safe, secure and modern. Note 21 to the financial statements shows the assets and liabilities attributable to the various funds by type. Unreslricled funds amounted lo £1,494,724 but only £335,884 of this is freely available because the balance is invested in fixed assets or is designated for other purposes. It is the role of the Finance Subcommittee to review the levels of reserves against current needs for the effective financial management of the School's activities at their present level. Developments Our current focus is on redevelopment of our playground areas, and on Science facilities. New hardware such as interactive screens or TVS, is now in place in 311 of the classrooms. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The ¢harity is controlled by Sts governing document, memorandum and articles of association, and constitutes a limited company. limited by guarantee, as defined by the Companies A¢1 2006. Page 12
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organlsational structure The Governors determine the general policy of the School and they meet as a Board approximately six limes a year lo review ils overall management and control. for which they are legally responsible. The day lo day running of the School is delegated to the Headteacher and the Bursar. The Govemors approve the School's policies and its Development Plan. Any key projects or major changes lo procedures are referred to Governors for full debate. The Chairman of Governors has regular communication with both the Headlea¢her and the Bursar, and other Governors are regular visitors lo School (e.g. the Health and Safely, Marketing, Staff and Educalionlsafeguarding Governors). The Headleacher oversees the re¢ruilmenl of all educational staff, generally supported by the Education Governor. The Bursar oversees the recruitment of adrninislralive and non-teaching support staff, usually together ilh the Headleacher. The Headleacher and Bursar were invited lo attend Governors, Meetings in 2024125, and other staff are invited, as required, by the Governors, to share knowledge about their specific teaching area as well as about pastoral care, including well-being and safeguarding. Page 13
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Induction and training of new trustees It is recognised that between them. the Governors need lo be able to speak with knowledge and experience on a de range of matters that will be brought lo their attention. Accordingly, when a vacancy is to be filled. the Governors always take into account what field of experience or training is not represented, or is under-represented, on the Board. The following skills are considered essential lo the Governing Body.. Education lincluding Special Needs) Safeguarding FinancelBusiness -Law Property edi¢al PRlmarkeling. However. the right persons with sound judgement, in sympathy with the longer-lerm aims of the School, and the desire lo serve the School, whilst being able lo give the necessary time and support freely and willingly. are also essential. In a small local School such as WPS, it is also considered beneficial that Governors live reasonably close to the School. so that they have an understanding of the local Community. Hence, the Govemors consider il wise lo appoint the right peTson rith the necessary skills, even if thi5 means having a vacancy in the short teTm (professional expertise may then have to be bought in lemporarilyl. It is recognised that It can lake lime ftsr a new Governor to become familiar with the School. the way in which it operates and the issues which face Governors and rnallagement. New Governors meet wth at least the Chairman before they are officially appointed to disCUSS the role and r(s requirements. They will also be invited into School to meet wf(h the Headleacher antl Bursar. New Govemors are issued with a Governors. Handbook. and 8 comprehensive pack of relevant papers, including copies of documents such as The Trust's Memorandum and Arkncles. the most recenl Annual Report and Accounts of the Governing 8ody, the latest lenN's accounts. previous minutes, the SchoDI's Developrnenl Plan and the most recent inspection report. New Governors are asked lo familiarise themselves th recent developments in the education sector. To assist them, relevant developments are noted at each Governors. Meeting by the SLT. Governors are also encouraged to attend seminars fun by AGBIS or IAPS. where they can exchange views other schools. All Governors are also invited lo allend, where possible. s18ff training days Ihal take place the day before each term starts. It is expected that Governors should keep themselves up-to-dale with what is happening in School, as well as more widely in education, particulady in the independent sector. Details of meetings le.g. IAPS, AGBISI are cir¢ulated lo Governors and wherever possible a Governor is encouraged to attend a relevant organised session. Helshe wll then report back to the whole Governing Body so that the information is disseminated to all. other ralationshlps The School is a member of IAPS Ilhe Independent Association of Prep Schools) of ISA Ilhe Independent Schools, Association) of ISBA Ilhe Independent Schools, Bursars, Association), and of AGBIS (Association of Governing Bodies of Independent Schools). These associalions provide a wealth of expertise, knowledge and experience across the independent schools, sector. Page 14
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk managèm•nt The Governors are responsible for the overseeing of the lisks faced by the School. Detailed assessments of risk are delegated lo the Senior Management Team and a system of risk management and assessment is in place. The Governors assess the major risks that the School faces each finan¢ial year when preparing and updating the School's Development Plan. The Charity has developed systems lo monitor and control these risks to miligale the impact ihey may have on the School in the fLJlure. 11 is recognised that any such systems can only prowde reasonable bul not absolute assurance that major risks have been adeqijalely managed. Key risks al nationallpolilical level which are already having a major negative impact on our sector include.. The govemmenl's introduction of Value Added Tax lcurrenlly 20Qh on most services) was added lo fees from January 2025 and the removal of Business Rates Relief from April 2025. These actions are having a serious impact on the independent schools market. with some schools having already closed with a definite shrinkage of the market. Fortunately, WPS has a financially strong, secure position. Low birth rates which are impacting Reception ¢lass sizes generally. The national short-mid-lerm economic situation, which is still a concern for many families. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 00888776 (England and Wales) Reglstered Charlty number 525924 Regist8r8d office 7 Grove AvenLJe Wilmslow Cheshire SK9 SEG Page 15
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 AUGUST 202S Trusta8s MrA Gosnay Mrs L. Anson MrJ. Hughes Mr D.G. Vanslone Mr J. Sharp Mrs D. Stephenson Mrs W. Wynn Mrs B. Williams Mrs H. D'urso Mr N. Laird Three Governors retired al the end of the academic ye3r 2024125.. Mrs W Wynn, Mr N Laird and IAr J Sharp. In accordance wlh Article 42 of the Articles of Assoaalion, Mrs H D'urso, Mr A Gosnay and Mrs D Stephenson the Governors retiring by rotation. wll retire al the Annual General Meeting, and being eligible. offer themselves for re-election. Other Officers Headlea¢her Mr B. Lavagna-slater HDipEd, BA (Hons) NPQH Bursar Miss S. J. H. Davies 8Sc IHonsl. IPFA (Honsl Clerk lo the Governors Miss S. J. H. Davies Bsc {Honsl, IPFA (Honsl School Secretary Miss L. K. Kendal BA {Honsl, PGCE Company Secretary Mr A. Gosnay Auditors Clarke Nicklin LLP Chartered Accountants and Slalulory Auditors Clarke Nicklin House Brooks Drive Cheadle Royal Business Park Cheadle Cheshire SK8 3TD Solicitors Pannone Corporate LLP 378 - 380 Deansgate Manchester M3 4LY Page 16
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Governors who are also the charity trLJStees and the company directors, are responsible for the overall management and contfol of Wilmslow Preparatory School Trust Limited and rneel generally six times a year. The School Bursar is responsible for co-ordinating the work of the Governors and any suCommittee$. preparation of papers, management accounts and the review of matters arising. All Govemors give their lime freely and no remuneration or expenses were paid in the year lo the Governors personally. No Governor. or person connected wlh a Govemor, received any benefit from means tested Bursaries awarded to our pupils. The Governors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢¢epled Accounting Praclicel. Company law requires the Governors lo prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charitable company and of ils incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these financial slalements, the govemory are required to.. select suitable accounting policies and apply them consislenlly.. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., prepare the financial slalemenls on the going concern basi8 unless it is inappropriate lo presume that the charity will continue in operation. The Govemors are responsible for keeping proper accounting records that disclose ulth reasonable accuracy at any lime the financial position of the ch8rilable company and lo enable them lo ensure the financial slalements eomply with the Companies A¢1 2006. They are also responsible for safeguarding the a55el$ of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Governors are aware.. There is no relevant audit information of which the charitable ¢ompanVs auditors are unaware and., The Governors have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomiation and to establish that the auditors are aware of that information. AUDITORS The auditors, Clarke Nicklin LLP, will be proposed for re-appoinlmenl al the forthcoming Annual General Meeting. Approved ljy order of the board of trustees on . and signed on its behalf by.. .U. A Gosnay- Trustee Page 17
REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF WILMSLOW PREPARATORY SCHOOL TRUST LIMITED Opinlon We have audited the financial statements of Wilrnslow Preparatory School Trust Limited Ilhe 'charitable company'l for the year ended 31 August 2025 whi¢h comprise the Statement of Financial Aclivilies, the Balance Sheet, the Cash Flow Slalement and note5 to the h'nan¢ial slaternents, including a summary of significant accounting policies. The finan¢ial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally A¢¢epled Accounting Praclicel. In our opinion the financial slalemenls.. give a true and fair view of the slate of the Charitable company's affairs as at 31 August 2025 and of its Incoming resources and application of resources, including ils income expenditLJre. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pract¢ce'. and have been prepared in accordance wlh the requirements of the Companies Act 2006. Basls for opinion We condu¢ted our audit in a¢¢ordance nth International Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Audilors, responsibilities for the audit of the financial slalemenls section of our report. We are independent of the ¢harilable company in accordance with the ethical requirements that are relevanl to our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in a¢[dance wth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern bssis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have performed, we have not idenlifted any material uncertainlies relating to events or conditions that, individually or lleCtivelY, may cast significant doubl on the ¢harilable company's ability lo continue as a going concern for a period of at least e1ve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees wth respect to going concem are described in the relevant sections of this report. Othar Infomiation The trustees are responsible for the other information. The other information comprises the information included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financAal statements does not cover the other information and, except lo the extenl otherwise explicitly staled in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial slalemenls, our responsibility is to read the other information and, in doing so, consider whether the other infomiation is materially inconsistent with the financial stalemenls or our knowledge obtained in the audit or otherwise appears to be rnalerially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rlse lo a material misslatemenl in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required lo report that fact. We have nothing to report in this regard. Page 18
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WILMSLOW PREPARATORY SCHOOL TRUST LIMITED Opinions on other matters prescrlb8d by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consislenl with the financial statements,. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on whl¢h wa are required to rèport by axcaption In the light of the knowledge and understanding of the Charitable company and ils environment obtsined in the course ol the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing lo report in respect of the followng matters where the Companies Act 2006 requires us lo report lo 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., OT the financial slalemenls are not in agreement ¥Mth the accounting records and returns.. OT certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit.. or the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Slrale9ic Report or In preparing the Report of the Trustees. Rèsponsibilities of trustoas As explained more fully in the Statement of Trustees, Responsibilities, the Iruslees (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 Iruslees determine is necessary to enable the preparats'on of financial slalements that are free from material misstatement, whether due to fraud or error. In preparing the financial slatemenls. the Iruslee5 are responsible for assessing the charf(able companys ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or to cease operations, or have no realistic alternative bul lo do so. Page 19
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WILMSLOW PREPARATORY SCHOOL TRUST LIMITED Our responsibilitlos for the audit of the financial ststements Our obje¢lives are to obtain reasonable assurance about whether the financial slalements as a whole are free from material misslalement, whether due lo fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable aSSUTance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI wll always delect a material misstatement when il exists. Misslalements 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 slalemenls. Our objectives are lo obtsin reasonable assurance about whether the financial statements as a whole are free from material misslalement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion.Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delect a material misstatement when il exists. Misstslements can aii5e 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 statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line wlh our responsibilities. OLJtlined above. to delect material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below. Procedures lo identify risks.. enquiring of management concerning the enlily's procedu9 relating to.. identifying, evaluating and complying with laws and regulations and whether they were awaTe of any instances of non¢ompliance', detecting and responding lo the risks ol fraud and whether they have knOedge of any actual, suspecled or alleged fraud., discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas.. timing of recognition of income, and posting of unusual journals,. and obtaining an understanding of the legal and regulatory frameworks that the company operates in, f(USIng on those laws and regulations that had a direct effecl on the financial statements or that had a fundamental effect on the operations of the entity. The key laws and regulations we Considered in this Context included Companies Act, Charities Act, employment law, health and safety, pensions legislation and tax legislation. The procedures lo respond lo risks identified included.. reviewing the financial stalernent disclosures and testing lo supporting documentation to asse88 compliance rith relevant laws and regulations discussed above., ellquiring of management, concerning actual and potential liligalion and ¢laim8', performing analytical procedures lo identify any unusual or unexpected relationships that may indicate risks of material misstatement due lo fraud., testing the liming and matching of income and expense transa¢tlons either side of the year end., and in addressing the risk of fraud through management override of controls, testing the appropriateness ol journal entries and other adjuslmenls., assessing whether the judgements made in making accounting eslimales are indicative of a potential bias., and evaluating the ralitsnale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud non-complian¢e wlh laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al V¥.frC.org.ukIad1lO[sresponSIbIIi1Ie$. This description forms part of our Report of the Independent Auditors. Page 20
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WILMSLOW PREPARATORY SCHOOL TRUST LIMITED Usa of our rèport This report is made solety to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's members those mallers we are required to slate to them in an auditors. report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report. or for the opinions we have formed. Graham Travis (Senior Slalutory Audilorl for and on behalf of Clarke Nicklin LLP Chartered Accountants and Slalulory Auditors Clarke Nicklin House Brooks Drive Cheadle Royal Business Park Cheadle Cheshire SK8 3TD Date.. Page 21
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 2025 Total funds 2024 Total funds Unrestricted Endowment funds fund Note5 INCOME AND ENOOWMENTS FROM Donations and legacies 72,162 72,162 74,380 Charitable actlvities Fees and collection charges 1,169,624 1,169,624 1,218,644 Investment income 7,822 7.822 6,803 Total 1.249.808 1,249,808 1.297,827 EXPENDITURE ON Charitable activities Teaching and welfare 81$ Running ¢osls & maintenance Governance 737,964 483,066 9.984 737,964 483,066 9,984 702,034 430,947 9.200 Total 1,231,014 1,231,014 1,142,181 Nel gainslllossesl on investments {1241 11241 2,534 NET INCOME 18,470 18.470 158,180 RECONCILIATION OF FUNDS Total funds brought forward 1,476,254 752 1,477,006 1,318,826 TOTAL FUNDS CARRIED FORWARD 1,494.724 752 1,495,476 1.477.006 The notes form part of these financial slalemenls Page 22
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED BALANCE SHEET 31 AUGUST 2025 2025 Total funds 2024 Total funds Unreslricled Endowment funds fund Notes FIXED ASSETS Tangible assets Investments 12 1,126,100 28,076 1,126,100 28,828 1,151,163 28,952 752 1.154.176 752 1,154,928 1.180.115 CURRENT ASSETS Stocks Debtors Investments Cash al bank 14 15 16 8.642 255.196 538,018 13,388 8,642 255.196 538,018 13,388 8.878 184,620 637,408 14,216 815,244 815,244 845,122 CREDITORS Amounts falling due within one year 17 {443,4471 1443,4471 1490,8481 NET CURRENT ASSETS 371,797 371.797 354,274 TOTAL ASSETS LESS CURRENT LIABILITIES 1,525,973 752 1,526,725 1,534,389 CREDITORS Amounts falling due after more than one year 18 131,2491 {31,249) 157,3831 NET ASSETS 1,494.724 752 1.495,476 1.477,006 FUNDS Unreslri¢led funds Endowment funds 21 1.494,724 752 1,476,254 752 TOTAL FUNDS 1,495,476 1.477,006 The notes fom part of these financial statements Pa9e 23 continued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED BALANCE SHEET-continued 31 AUGUST 2025 These financial slalements have been prepared in accordance wf(h the provisions applicable to charitable companies subject to the small companies regime. The finanaa lemen s were approved by the Board of Trustees and aulhorised for issue on and were signed on ils behalf by.. A Gosnay- Trustee D Stephenson- rus ee The notes form part of these financial statements Page 24
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 202S 2025 2024 Notes Cash flows from operatlng actlvltl•s Cash generated from operations Interest paid 175,9321 (373) 404,733 16961 Nel ca8h lused inllprovided by operating activities 176,305) 404,037 Cash flow5 from investlng actlvities Pur¢hase of tangil)le fixed assets SalellPurchasel of current asset invs {13,638) 99,390 146,3051 1347.7631 Net cash provided byl{used inl investing a¢livities 85,752 1394,0681 Cash flows from financing activities Loan repayments in year 110.2751 {9,7601 Nel cash used in financing actwilies {10,2751 19,7601 Change in cash and cash equlvalènts in the rèporting p&riod Cash and cash 8quivalents at the beginning of the reporting pèrlod 18281 209 14,216 14,007 Cash and cash equlval¢nts at the end of the reporting period 13.388 14,216 The notes form part of these financial slalements Page 25
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net incom& for the reporting p&riod las per tha Statement of Financial Activities) Adjustments for: Depreciation charges Lossesl{gainl on investments Interest paid Decreasellin¢rea$el in stocks Increase in debtors {Decreasel/increase in creditors 18,470 158,180 38,701 124 373 236 170,5761 163,2601 40.306 12,5341 696 19191 127,4681 236,472 Net cash {us8d Invprovided by opgratlons 175,9321 404.733 ANALYSIS OF CHANGES IN NET FUNDS Al 1.9.24 Cash flow Al 31.8.25 Net cash Cash al bank 14,216 18281 13,388 14,216 (8281 13,388 Liquld resources Oeposils included in cash Current asset investments 637.408 199,3901 538,018 637,408 199,3901 538.018 Debt Debts falling due within 1 year Debts falling due after 1 year {10,203) {12,2311 {259) 10,534 110,4621 11,6971 122.434) 10,275 112,1591 Total 629,190 189,9431 539,247 The notes form part of these financial statements Page 26
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 INFORMATION Wilmslow Preparatory School Trust Limited ('Ihe Companl'l is a charitable Company limited by guarantee, incorporated in the United Kingdom. The address of ils registered office and principal place of buslness is 7 Grove Avenue, Wilmslow, Cheshire, SK9 SEG. ACCOUNTING POLICIES Basls of proparing the financial statemènts The financial statements of the charitable company, which is a public benefit enlily under FRS 102, have been prepared in accordance th the Charities SORP IFRS 1021 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 (effective 1January 20191,, Financial Reporting Standard 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exceptitsn of Investments which are included al market value, as modified by the revaluation of certain assets. There are no material uncertainties about the charity's ability to continue as a going concem. The financial statements are presented in Sterling 1£). Income All income is recognised in the Statement of Financial A¢livilies once the ¢harily has entitlement lo the funds, it is probable Ihal the income wll be received and the amount can be measured reliably. Fee income represents the invoiced amount of tuition senrices and meals provided during the year together with miscellaneous catering receipts and collection charge5. Fees received for education lo be provided in future years are carried forward as deferred income. Donations receivable for the general purposes of the Charity are Credited lo unrestricted funds. Donations for purposes reslricled by the donor are taken to reslricled funds. Amounts required lo be retained as capital are a¢Unted for as endowments. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the ¢harily lo that expenditure, it is probable that a transfer of economic benefits 11 be required in settlement and the amount of the obligation ¢an be measured reliably. Expenditure is accounted for on an accruals basis and has been classih'ed under headings that aggregate 811 cost related to the calegory. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. The irrecoverable element of VAT is included with the item of expense to which it relates. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for ils beneficiaries, 11 includes both costs that can be allocated directly lo such activities and those Costs of an indirect nature necessary lo support them. Costg of generating funds are fundraisin9 Costs incurred in 8eeking voluntsry Conlributtons. Goveman¢e costs include those costs associated wlh meeting the conslilulional and statutory requirements of the charity and include the fees and costs linked to the strategic management of the charity. Page 27 continued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES - ¢ontlnued Tangibl8 fixed assets Depreciation is provided on all tangible fixed assets bought by the school, other than freehold land, al rales caleulated lo write off the ¢osl. less estimated residual value of each asset over ils expected useftjl life, as follows'.- Freehold Buildings 1.50A slraighl line Plant, Fixtures and Fillings 20.kn straight line Tangible fixed assets presented to the school as gifts are capilalised at cost lo the donor and a corresponding amount is prowded of depreciation. Items costing less than £500 are written off as an expense as acquired. Stocks The value of stock, which is not material to the financial position of the company, is estimated. Taxatlon The charity is exempt from corporation tsx on its charitable activities. Fund accountlng Unrestricted funds are available for use al the discretion of the trustees in furtherance of general objectives of the charity. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes in the financial slalemenls. Reslricled funds are subject lo reslriclions on their expenditure imposed by the donor or through the terms of an appeal. Further explanation of the nature and purpose of each fund is included in the notes to the financial slalemenls. DONATIONS AND LEGACIES 2025 2024 Donations and sundry reIpts 72,162 74,380 INVESTMENT INCOME 2025 2024 Investment income 7,822 6,803 Page 28 conlinued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEnAENTS - contlnuad FOR THE YEAR ENDED 31 AUGUST 2025 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 School fees add School fees received in advance less School fees Carried fonrd less Bursaries and allowances 1.533,020 354,656 1239,3011 1478,7511 1,761,791 148.314 {354.6561 1336,8051 1,169,624 1,216,644 CHARITABLE ACTIVITIES COSTS 2025 2024 T&a¢hlng and wèlfare costs Staff costs Depreciation Other operating charges 648,776 603,445 4,246 94,343 89,188 737,964 702,034 Running Costs and malntenance Staff costs Depreciation Other operating charges 159,250 38,701 285,114 161,437 36.060 233,450 483,065 430,947 Governance costs Auditors, remuneration 9.984 9,200 9.984 9,200 Page 29 continued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 SUPPORT COSTS Governance ¢osls Management Finance Totals Teaching and welfare costs Running Costs & maintenanee Governance 737,964 481,600 737,964 483,066 9,984 1.466 9.984 1,219,564 1,466 9.984 1,231,014 NET INCOMEI{EXPENDITUREI Nel Incomel{expendilurel is slated after chargingllcredilingl.. 2025 2024 Auditors. remuneration Depreciation - owned assets 9,984 38,701 9,200 40,306 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remunerabon or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024. Trustees. expansgs There were no trustees. expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024. 10. STAFF COSTS 2025 2024 Wages and salaries 808,026 764,882 808,026 764,882 The average monthly number of employees during the year was as follows.. 2025 2024 Teachers and assistants- Full lime Teachers and assistants- Part lime Self employed Administration- Office Adminislralion- Domestic Adminislralion- Caretaker 16 37 38 Page 30 continued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THEYEAR ENDED 31 AUGUST 2025 10. STAFF COSTS - contlnued The number of employees whose employee benefits (exdudlng employer pension costs) exeded £60,000 was.. 2025 2024 £60,001- £70.000 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTWITIES Unreslricled Endowment fund8 fund Total funds INCOME AND ENDOWMENTS FROM Donation8 and legacles 74,380 74,380 Charitabl8 activities Fees and collectlon ¢harges 1,216,644 1,216.644 Investment income 6,803 6,803 Totsl 1,297,827 1,297.827 EXPENDITURE ON Charitable actlvities Teach1ng and welfare costs Running costs & maintenance Governance 702,034 430,947 9.200 702,034 430,947 9,200 Total 1,142,181 1.142,181 Nel gain8 on investments 2.534 2,534 NET INCOME 158,180 158.180 RECONCILIATION OF FUNDS Total funds brought forward 1,318,074 752 1,318,826 TOTAL FUNDS CARRIED FORWARD 1,476,254 752 1,477,006 Page 31 conllnued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 12. TANGIBLE FIXED ASSETS Fixtures and fillings Freehold property Totsls COST At I September 2024 Additions 1.586,999 571,657 13,638 2,158,656 13.638 At 31 August 2025 fj,586.999 585,295 2,172,294 DEPRECIATION Al 1 September 2024 Charge for year 496,838 21,705 510,655 16,996 1,007,493 38,701 Al 31 August 2025 518,543 527,651 1.046.194 NET BOOKVALUE Al 31 August 2025 1.068,456 57,644 1,126,100 Al 31 August 2024 1.090,161 61,002 1,151,163 13. FIXED ASSET INVESTMENTS Listed Investments MARKET VALUE Al 1 September 2024 Revaluations 28,952 {1241 Al 31 August 2025 28,828 NET BOOK VALUE AI 31 ALJgusl 2025 28.828 Al 31 Augus12024 28,952 There were no Invostmenl assets outside the UK. C08t or valuation al 31 August 20251s represented by.. Listed Investments Valuation in 2025 28,828 Page 32 conllnued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 31 AUGUST 2025 14. STOCKS 2025 2024 Finished goods 8,642 8.878 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Other debtors Prepayments and accrued income 239,818 452 14,926 170,791 13,829 255,196 184,620 16. CURRENT ASSET INVESTMENTS 2025 2024 Short term deposits 538,018 637.408 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Bank loans and overdrafts (see note 191 Trade creditors Social security and other taxes VAT Other creditors A¢cruals and defetted income 10,462 75.421 15,456 37,149 13,732 291,227 10,203 49,481 38,921 9.724 382,519 443.447 490,848 Page 33 nlinued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 AUGUST 2025 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Bank loans (see note 191 Deposits held 1,697 29,552 12,231 45.152 31.249 57,383 19. LOANS An analysis of the maturity of loans is given below.. 2025 2024 Amounts falling due wlhin one year on demand.. Bank loans 10,462 10,203 Amounts falling between one and two years.. Bank loans- 1-2 years 1,697 10.462 Amounts falling due between bNo and five years.. Bank loans- 2-5 years 1.769 20. LEASING AGREEMENTS Minimum lease payments under non-¢an¢ellable operating leases fall due as follows.. 2025 2024 Wiihin one year 1.860 1,512 21. MOVEMENT IN FUNDS Nel movement in funds Transfers between funds Al 31.8.25 Al 1.9.24 Unrèstrlcted funds General fund Designated fixed asset fund Designated repairs fund 289,704 1,151,164 35,386 57,171 138,7011 110,9911 13,991 13,0001 335,884 1.126,454 32.386 1,476,264 Endowmant funds Prize funds 18,470 1,494,724 752 752 TOTAL FUNDS 1,477.006 18,470 1,495,476 Page 34 Continued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2025 21. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrlctgd funds General fund Designated fixed asset fund 1,249,608 11,192,313) 138,7011 11241 57,171 {38.701) 1.249.608 11,231,014) 11241 18,470 TOTAL FUNDS 1.249.608 11,231,014) {1241 18,470 Comparatlv&s for movamont in funds Nel movement in funds Transfers between funds At 31.8.24 At 1.9.23 Unrestrlcted funds General fund Designated fixed asset fund Designated repairs fund 172,910 1.145,164 198.486 {40,3061 {81.6921 46,306 35,386 289,704 1,151,164 35,386 1,318,074 158,180 1,476,254 Endowment funds Prize funds 752 752 TOTAL FUNDS 1.318.826 158,180 1.477,006 Comparative nel movement in funds, included in the above are as follows.. Incomlng resources Resources expended Gains and losses Movem&nt in funds Unrestricted funds General fund Designated fixed asset fund 1,297.827 11,101,875) 140,3061 2.534 198,486 140,3061 1,297,827 (1.142.181) 2,534 158,180 TOTAL FUNDS 1,297,827 {1,142,1811 2,534 158,180 Page 35 continued...
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnugd FOR THE YEAR ENDED 31 AUGUST 2025 21. MOVEMENT IN FUNDS- Continued A current year 12 months and prior year 12 months combined position is 3$ follows.. Nel movement in funds Transfers between funds Al 31.8.25 At 1.9.23 Unrastrlctèd funds General fund Designated fixed asset fund Designated repairs fund 172.910 1,145,164 255,657 179,0071 (92,6831 60,297 32,386 335,884 1,126,454 32,386 1.318,074 176,650 Endowment funds Prize ftjnds 1,494.724 752 752 TOTAL FUNDS 1,318.826 176,650 1,495,476 A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrictad funds General fund Designated fixed asset fund 2,547,435 {2.294,1881 {79,0071 2.410 255,657 {79.0071 2,547,435 12,373.1951 2,410 176,650 TOTAL FUNDS 2,547.435 12,373,195) 2,410 176,650 22. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 August 2025. Page 36
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 202S 2025 2024 INCOME AND ENDOWMENTS Donatlons and legacies Donations and sundry receipts 72.162 74,380 Investment incom Investment income 7.822 6,803 ChaYltabl& activities Fees and collection charges Remissions 1.648,375 1478,751) 1,555,449 1338.8051 1,169,624 1,216,644 Total Incomlng resource$ 1,249,808 1,297,827 EXPENDITURE Support costs Management Wages Rates and water Light and heal Telephone costs Postage and stslionery Sundries Provisions School books and materials Repairs and renewals Inspection Costs Depreciation of freehold property Depreciation of plant and machinery 808,026 35,579 49.729 10,195 55,188 95,141 64,305 24,241 35.290 3.169 21,705 16,996 764,882 29,789 32,859 10,883 49.316 68.445 65,455 28,888 38,454 2,000 21,710 18.596 1,219,564 1,131,277 Finance Bank charges Bank loan interest 1,093 373 1,008 696 1,466 1,704 Governance costs Auditors, remuneration 9.984 9,200 This page does not form part ofthe stslulory financial slalemenls Page 37
WILMSLOW PREPARATORY SCHOOL TRUST LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Total resources expended 1,231,014 1,142,181 Net incom& 18.594 155,646 This page does not form part of the siatulory financial statements Page 38