Company roglstr•tlon numbèr 00661518 (England and Wales) Charty registration numbei $25929 (England and Wales) POWNALL HALL SCHOOL TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
POWNALL HALL SCHOOL TRUST LIMITED LEGALAND ADMINISTRATNE INFORMATION Govemo Mrs E M MaG4ulay (Chalrl Mr T J Wareham Mrs N M Wood hnrRBWWood Mrs D Huelirrfj MrsA Simmonds Mr R Hill (Appolnleil 21 Odober 20241 Hoadmaster Mr D Goulbourn Se¢retsry Mr O Goulb(xJm BusIn$ Manager Mr M Hughes Charity number 525929 Company numbar 00661518 R•glstered P¢)wnall Hall School caWO0d Road Pownall Park Wilmslow Ch8shire SK9 5DW Audttor Jo¥olyne LLP Merchant Exchange Waters Green Macclesfield Cheshire SK116JX Bankers Lbyds Bank Group PIC 223 Finney Lane Cheadle Cheshire SK8 3PY
POWNALL HALL SCHOOL TRUST LIMITED CONTENTS Page Govemor$' report Independent auditorfs report Statement of financial aclivilies statement of financial position 10 Statement ofcash flows 11 Notgs lo the financial slalemenls 12-29
POWNALL HALL SCHOOL TRUST LIMITED GOVERNORS. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST2025 The Govemors present their annual report and finaneral ststemenls for the year ended 31 Augu$t 2025. The financial statements have been prepared in w)rdance with the accounting policies sel out in note 1 to the financial statements and comply wth the school's Memorandum and Arb'cles of Association. the Companies Act 2006 and 'Accounling and Reporting by Charitie5'. Stslemenl of Recommended Practice applicable lo charities preparing their accounts in accordance wth the FInancI Reporting Standard applicable in the UK atKI Republic of Ireland IFRS 1021" (effective 1 January 20191. Oblectlv•s and actlvmles In setting objeth'ves for the School and planning its adNities, the Govemors have given carefijl consideration to the Charty Commissbon's general guidance on public benefit and in particular lo its supplemenlary public guidan on advancing education and fee charging. The Govemors have for many years ¢)ffered assistan with fees and the School f7as b88n p8rti¢ulady suttessful in attracting children whose p8renls would not be able to afford a full fee paying place. The assistanee takes in lo account the cost of extra curricular activities. The Governors are also conscious of the role that th8 School hos always played. and ¢ontinues lo play. in the Ic¢al community and this Report sets out detsils of activities which benefft all sections c)f that community. HOvVer we are not complacent in respect of the put4ic benefit requirements.. on tho ctrary we are conb'nuou8ly exploring opportunities to enhance the School's 8¢tNf(ies and use all its resources for the ben8fft of all strands of the local mmunity. Our School welcomas pupils from 811 b8ckgrounds. There is no entran requirement as such although in the upper foftns an initial academic assessment is made, and this identifies the e(lucational requirements and programme fot th¢ child. We have made si9nifi¢anl investments in infrastructure to cater for the needs of children who are, or becorne, disabled. The welfare and progress of the children in every respect 15 a priority commitment and our procedures facllftale effeclive monitoring of development and success. The School's objectives are the a¢lvan¢ement of education for 6 months to 11 year old children. The Charity h8$ olso to maintain ils heritage endowment, in particular the Hall which is a grad8 2. listed buildiro and various ortefacts, books and woiks of art. The Governors have also emphasised the need to make the School's resources and activities available lo the wder community and lo contribLrte to the wemare of the Community. The Governors also make bursanes available and are intent on achieving a wider access to the School, offering assisted places lo children whose parents are unable to meet the full fees and making the School's resources available lo the local community. thin these Objects, the School's aim is to provide a first class independent educatr'on, based on exc8118nt academic tuition and extra currieular activities involvin9 the development of sporting, artistic and social skn'lls in all Its pupils. This is designed to provide an environment in which all pupils can develop and ftjlfil their poleth'al. both Sn gaining access lo the secondary school of their clb)ice, and in builth.ng self confidence and a deslr6 to contribute to the wider communty. The focus in the period ended 31 August 2025 and beyond has been on rnaintalnlng and improving academic performance," increasin9 conlribLth"on lo the er community both by activity and visibility in the community and by making the School's resources and activities avallable lo others., actively pursuing the (jevelopml and introduction of a bursary s¢heme', and inveslm8nl in the School's Infroslructure and facilities. The 8Ctivilies which have contributed to the implementslon of the SetrK)ol's strategy and the achievement of Its objectives are dealt th in the noxi section of thls Report. The Governors have paid due regard to guidanc8 issued by the Charity Commission In de¢idiNJ what activitie the school should undertake. Stratsglc report The description under the headings"Achievements ana performance" and 'FSnanaal review. meet the company law requirements for the Governors lo present a strategic report.
POWNALL HALL SCHOOL TRUST LIMITED GOVERNORS. REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 Achlevements and perfom)anc• Our Children continued to attain the highest qualty academic standards. Of the 26 children in Form 6 sitting 11+ entrance examinations 100% were offered plaees al the Secondary Sthools of their choice, including Manchester Grammar School, Stockport Grammar School, The King's School Macclesfield. Cheadle Hulme School, Alderfey Edge School for Girls, Hulme Hall Grammar School, The Grange School. Marlborough Colloge, Cransley School. F8rringtons School. Terra Nova and Replon Al Barsha IDuboil Our chiklren reiVed a total of 72 offers of places including 2 scholarships. Although the primary fuS of the School is on adeMiC ste$S, all our children participate In many extra- curricular activfjkn.es which we consider essential for their development and prepares them for the rigorous demands of secondary school and beyond. There is considerable 8mphasis on muslc and drama. Many of the children pa5se(J music examinations and almost all are involved in choral activities. The majority of thé senior School participated in five productions throughout the year, outslancsing performances which received numerous accolades. All children in the School sang and performed in numerous con¢erts and plays. Our oUtStdIng choirs p8rtiapated in many public. as well a5 inleinal, perfOrmare$ during the year. The children also performed in our musical recitals, which tske place every haw lenn in our Boddington Theatre. Thère were numerous achievements al the Ad8rley Edge Festival, vthere the senior choir achieved 1st place. the ehamber choir were highty commended, and the junior choir came second. There were also individual successes in the ppano solo and vocal solo categories. In the speech and drama categories there were many Successes for solo and duologue performance5. No less important are other activities such as music, ar( cooking and chess lch add to the broad education which is provided. Sport remains an integral part of wr children's curriculum, a¢tivilies and opportunities at school. The all-wealher astro pi(ch, originally funded through a genefOUS donation from our Parents, Association. is used extensively for a wide range of Sports including football, hockey, tennis and netball. Together with the sports hall and our extensive QLrtdoor f8cilits"es, il enables us to offer a broad and varied sporting prcJramme throughout the year. Within the sports hall are cricket nets and a cricket mal, allowng batting and b¢)wling lo lake pCe all year round. The hall 1$ also marked for badminton. basketball and netball, providing a versatile space for both training and competition. Fixtures are held 01 Pownall Hall on a weekly basis, where we are proud to showcase our indoor sports'ng facilities. The school's outdoor facilities also play a key role in our sporting prowsion. Our large school ffield accommodates three football pitches and is a signifKanl attraction for visitr.ng schools. who regularly come to KAay fixtures using our grounds alongside the alkweather a3tr0 pitch. Children at Pownall particlpale in sport wth great enthusiasm and enjoyment. proudly representing the school at XtU$. tournaments and IAPS events. This year alone, children have taken part in the Girls, IAPS National Footb811 Toumament, the IAPS Netball Qualifyiro Round, individual pupils have repres8nlod the xhool al the IAPS National Swimming Fin81$ held at the London Aquatics Centra. Al of these sporting opportunities help lo develop teamwork. r¢silience. hh expectslions and dedication. The Governors in implemenllng the bursary policy, awarded a number of as$i$ted places to children who olher¥wse would hove been unable lo attend the School. The Finance Governor continues lo devdop the fomial policy and the Governors are anxious lo ensu that asslsted rdaces are made available to the wider community on a consislenl, èquitable and re81i8lle basis. Considerable emphasis has been placed on updating the School's infrastructure and facilities. This year tho focus has eontinued lo be on enhanryng and modemising tea¢hing facilities. There has been further investment In ICT with the purchase Df laptops, chrome books and iPads, classroom interactive louchsere8ns. The EYFS has received further Significant investment wth the estsblishment of a new baby room to be known as Vwrens which was opened in September 2025 to meet the oveiwhelming demand for nursery places for under 2's.
POWNALL HALL SCHOOL TRUST LIMITED GOVERNORS. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 '. The Governors, staff and parents, together wlh their.thildren, are particularfy committed to the School's contribution to the wder l¢xal eornmunity. The Hall being a grade 2, listed Arts and Crafts bUdIng is opened to visitors on several occasions during the year. The School's. sporbng and other facilities are frequently used by local sports dub$ similar organisations and the Govemors are seeking lo extend this opportunity lo those who are not fortunate enough to have their own faciltties. Our children's plays and choral aclivilies are provided lo many in the community. in particular pensioners, and a considerable number of charitsble activities are organisgd by all members olthe School community. The SchoL4's QFerats'ons are funded in the main by fee income. However, the Governors and other vobjnteers and supporters of the School are alert to potential fundraising opportunities although these are largely focu8ed on specific projects. The School's Parents. Committee is particularly active and successful in mounting social and other events and surplLJses are typically used to purchase equipment for classrooms and other school f8¢iltties, entirely al the discretion of the Commtttee. The Govefnors would like to record their appreeralion of the parents, contribution to the Sch¢)ol. Flnanclal revlew Al 28 August 2024 the financing of the Sch¢)ol"comprised a loan of £1.050,000 from a personal lender and loans from Govemors and their families of £283,000. During the year the loans from the Governors ané their families have bèen repaid in full in antiupation of the refinaneing of the school th the School bankers. ShortEy after the year end on 30th October 2025 the refinancing of the school was eompleted and the loan from the pgrsonal lender wa$ repaid in full by a 20 year loan for £1.075m from Lloyds bank PLC. Numbers in the School have Increased Ihroughoul the pèriod risng from 306 on role at the start of the year rising 10 337 by the end of the schwl year. Numbers remain strong and are set to rise to 334 by July 2026. The Govemors report a surplus of £314,375 for the year, compared to £264,446 In the previous year. Last ye8r included significant donations of capital items funded by the PSA within the restrted fvnds which will be depreciated over the ljfetime of the asse15. The underlying numbèrs for the unrestricted fund show a movement from a surplus of £245.493 to £332,399. Reserves pollGy The Governors. policy towards reserves is lo invest a proportion of ils surpluses in the SGh¢xsl's fadlitles and inftaslructure. Athough this di8cretion8ry spending impacts on reserves onty through the progressNe recognition of d8preoalion in the Slalemenl of Financial Activities, il impacts on the School's cash resources. Consequentiy. the Govemors think it Ippropriale that the over011 financial posltlon. Including and in patticular the cash position, infornis and infiuence8 the policy on, and level of, reserves. The Govemors are conscious that the Unrestricted funds are in deficit. However, as slated abov8, the school has experienced significanl increases in nufflbers over the p881 few years and although the impact of Covid-19 had postponed the relum to proffitabilily, this wa$ achieved in the years to August 23, August 24 aTrJ August 25. The sale of SUTplus land in 2017118 yidded a significant profit and was consistent wlh the valuation of the School's freehold land and buildings, undertaken in 2012 as part of the negotiations in connection with thfr increased bank facilities, which indicated a value SFgnificanlly in exce8s of the co'ng value in the balance sheet. UrKler Ihe (threclion of the Govemors and the Headmaster, the School has etinlinued to invest in modemising and enhanang the leaching provision, and in the provision of new facilities..which will enhance the ¢dtion expenence of our children. E5senlial, albeit modest.. investment programmes were conlinued during this period. The Board of Govemors Is responsible for the management of risks faced by the Schooi. Detsiled consideration and management of risks are delegated to the executive management team who report infomi8lly to the Business Management Committee I'BMC'I and Board.. The Governors have conb'nu8d lo implement enhanced risk management pr¢xesses during the year. Major risks and issues are evaluated and considere(l at all management meetings and the risk identsfication, a55e5sment and response proGess has been fofmally documented during the year. The Govemors and executs.ve management team are risk nsciouS and are satisfied that the major risks faced by the School have been manag8d and mits"gated lo an adequate extent. The governor5 recognise that systems can only provide reasonable bul not absolute a88urance that major risks have been 8dequatety managed.
POWNALL HALL SCHOOL TRUST LIMITED GOVERNORS, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The key objectives of the medlum to long term Strateg plan are.. To achieve optimum capacity in each class throughout the School To ensure Ihat teaching capacity and capabilty is commen$ufale with these class sizes To maintain the current high standards of academic achievement measured in the main by the SLKcess of the School's children in securing offers from the Secondary schools of their ¢hoice To continue to maintain the School's reputation for excellen in extra curricular activtty in the arts, sport and community activity To widen partiC4Potson in the SclK)ol by offering assistèd p18ces for thildren. and to mak& the SclN)ol'$ resources, facilities and activities available lo the widor communty To continue the programme ol improving the School's infra81ruclure and faeilities. In thg short terni the Govemors are conscious of the Schoofs financial position partujarly in light of the recent introduction of VAT on school fees, loss of Charitable Business Rates Relief and increases of both Tgachers Pension contributions anil employers nathjnal insurance. Initiatives to achieve efficiencies and @conomies in the cost base Contin to be implemented and emphasis is being aCed on initiatives lo increase pupil numbers. The Govemors will implement projects and iniliats.vos onty on the basis that the Sehool remains wthin ils finand81 facilities. Stru¢luTrs govemancè and Managennt The activf(ies of the Trust ère referred lo in the Memorandum and Arfycles ofAssocialion which 15 the goveming document ofthe Twst. The Governors, who are al$0 the dlrectOf8 for the purpose of o)mpany law. and who hav8 served Sin 28 August 2024 were.. Mrs E M MacAulay (Chair) MrT F Barnes Mr G D Dawber MrT J Wareham Mrs N M Wood MI R BWWts)d Mrs S Kelly Mrs D Hueting MrsASimmonds Mrs K Mehta Mr R Hill <Regned 7 October 20251 IResignod 31 August 20241 (Resigned 18 Novemb¥ 2025) {Resigned 19 November 2025) (Appointed 21 October 20241 In accordance with IheArtieles of A$s¢xialion, Mr R B W Wood, Mrs N M Wood anfj Mrs D Huoling will retire by rotslion at the forthcoming AGM, and being eligible, wll offer themselves'for re-electioft. The Trust does not have any share tspilal but eaeh Governor is guarantorto the extent of £1. No Govemor has beneficial interest in the Trust. Govemors are elected by The Board of Govemors having regard to the skiUs.requiremenls of ihe Board. Ea Govemor contributes a specific area of expertise relevant to the management olthe School. The Govemors, as the Charity Trustees, are legally responsible for the overall management and control of the School and meet al least rive ts.mes a yoar. The work of irnplementing most of the policies laid dowrt by the Board of Govemors and the day to day management of the School is undertaken by the executive senior management team under the supervision of the BMC, chaired by the Chair of the Board, which meets at least five limes a year before the meetings of the Board, and which nom)ally includes the DepLrty Chair. Finance Govemor, H¢admaster and Business Manager.
POWNALL HALL SCHOOL TRUST LIMITED GOVERNORS, REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 ststement of Governors. rèsponglbllltles The GoverrK)rs. are also the directors of Pownall Hall School TnJst Limited for the purpose of company law, are responsible for pieparing the Governors. Report and the finanryal statements in accordance with applicabla baw and United Kingdom Accounting Standards (Unitsd Kingdom Ggnerally Accepted Aceounting Practice). Company Law require5 the Govemors to prepare financial stslemenls for each financial year which give a true and fair view of the slate of affairs of the sch¢)ol and of the incoming re30urces and 8Fplution of resources. including the income and expenditure, of the charitable company for that year. In prepang these financlal ststemenls, thg Govemors are required lo.. - select Suitable aontIrJ policies and then apply them consistently,. - observe the methods and principles in the Charfties SORP., - make jwlgements and estimates tr*1 are reasonable and prudent.. slate ether applicable UK Accounting Standards have been followed, subject to any material departures disclosod and explained in the firkinci81 statements., a1 prepare the financial statement5 on the gthng concem basis unless il is inappropnate lo presum& that the school will contsnue in operation. The Governors a responsible for keeping adequate accounting records that disc105e with reasonable accuracy al any lime the financial position of the school and enable them to ensure that the finana81 slalements comply wrth the Companies Act 2006. They aro 8180 Sponsibl lor safeguarding the assets of the school 8nd hence for taking reasonable steps for the prevention and delèclion of fraud and olher irregularities. Audltor In accordance with the ¢c¥np8tys articles, a resolulon proposing th81 Josolyne LLP be reapp)int8d as 8udilor of the company will be put al a General Meeting. Dlsclosure of Informatlon to audltor Each of th& Governors has confirmed that there is no information of which they are aware which is relevant to the 8udit. but of which the auditor is unaware. They have further confirmed that they have tskèn appropriate steps to idenlfy such relevant infomialion and lo establish that the auditor is aware of such Information. The Ikvemors, report, including the strategic report. was approved by the 8oard of Govemors. Mr R Hill Govemor
POWNALL HALL SCHOOL TRUST LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF POWNALL HALL SCHOOL TRUST LIMITED Opinion We have Jdiled tr financial statements of Pownall Hall Sch¢JoI Tru81 Limi18d (the 'school'l for the year ended 31 August 2025 which comprise the Slalemenl of Financial Aclivilies, the Slalement of Financial Postion, the Slalement of Cash Flows and the notes lo the financial statements, including a summary of significart a¢UntIng F)oliries. The financial reporting framework that has been appl*d in their preparation is applicable law and Uniteil Kingdom Aecounling Standards, including Financial Reporting Standard 102 The Fin8n¢ial Reporting Standaré gpplicabl8 in thg UK and Republlc of lTrland (United Kingdom GenerallyAccepte(l Accounting Practice). In our opinion, the financial ststements-. give a true and fair view of thé se of the charitable ccfflpanVs affairs as at 31 August 2025 a1 of its Incoming 18sources and application of resources, incfuding its income and exFenditur@, for the year then ended", have been properly prepared In a¢cordanee with United Kingdom Generally Accepted Aco)unting Practi., and have been prepared in accordance with the requirements of the CompaniesAct 2006. Bas18 for oplnlon We conducted our audit in accordance wllh Intemalional Stsndards on Audfting {UK) IISAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditors spOnsibl1[&S for the audit ol the financi81 st8temenls sedion of our report. We are independent of the school in ac¢ordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and have fulfilled our other ethical responsibilities in accordance Mlh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis our opinion. Emphasls of rnatter Due lo the Statement of Financial Position showing net liabilrtles of £706,799 we draw your attention lo the relevant disdo8ure in the Governors report and note 1.2. Our opinion has not been mocfrfied in respect of this dixlosure. Other Intormatlon The other information comprises the infomation included in the annual rep¢yt other than the finarrial statements and Dur auditorfs report Ihereon. The Governors are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and, except lo the ext8nl otherwise expliciUy slated in our report, we do not express any form of assurance Conclusion thereon. Our responsibility is lo read the other information and, in doing $0, consider whether the other information is materially inconsistent with the financial stslements or our knowledge obtsined in the course of the audit, or olheN4ise appears to be materially misstsled. If we identify such material inconsistencles or apparent material misstatemènts, we are required lo determine whether this gives rise to a material misslalement in the financial 8t8tem&nls themselves. If. based on the work we have perfom)ed, we condude that there is a material mlsslalemenl of Ihls other infomiation, we are requred to report that fact. We have nothing to report in this regard. Oplnions on other matters prescribed by the Companles Act 2006 In our opinion. based on the work undertaken in the eourso of our audit.. the infomation given in the Governors. report for the financial year for vthich the financial staternents are prepared. which includes the directors, report and the Strats9ic rep)rt prepared for the PLwses ol cornp8ny law, is consislenl with the financial slalements,. and the Strategic report and the dire¢tors' report induded Trmlhin the Governors. raport have ljeen prepared in a¢¢ordance with applicable legal requirement5.
POWNALL HALL SCHOOL TRUST LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF POWNALL HALL SCHOOL TRUST LIMITED Matters on whkh we are required to roport by oxcepllon In the light of the knowledge and understanding of the scheol and ils environment obtained in the course of the audit. we have not identified material misslalements in the strategic report or the directors, report included within the Govemors, report. È have nothing to report in respgcl of the follthmng matters in relation lo which the Companies Act 2006 r&Juires us to report lo you rf, in our opinion., Jèquate auntIng records have not been kept, or retum$ adequate our wdit have not been received from branches not visited by us., or the financial statements are not in agreement wilh the accounting records and retwns.. or ertain disclosures of trustees, remuneration specified by law are nol made,. or we have not received all the infom?alion and explanations we require for our audit. Responslbllltles of Govomors As explained more fully in the statement of Governors. wponslbllilies, the Governors, are also the directors of the school for the purpose of company law. are responsible for the preparation of the financial statements and fef being satisfied that they give a true and fair view, and for such internal Control as the Govemors determine is necessary ID enable the preparab'on of financlal slalements that are free from materi81 misstatement. vthelher due lo fraud or error. In preparing the financial statements, the Governors are responsible for assessing the school's abilty lo continue as a going concern, disclosing. as applicable. matters related to going ¢oncem and using the going Concern basis of accounting unless the Govemors eilh8r intend lo liquidate the charitable company or to cease operations, or have no realislic dternative but lo do so. AudttoVs re$ponsibilitie$ for the audlt ol the tln•nclal sLthments Our obje¢tives are lo obtain reasonable assurance about whether the financial st8temenls as a Who are free from material misslalemenl, whether due to frau¢J or error,"and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high lev81 of assuran but is not 8 guarantee that an audit conducted in 8e¢ordance with ISAS (UK) will always delect a material misslalemènl when it exi51s. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected lo influen Ihe economic decisions of Lrsers takèn on the bgsis of these financial statements. The extent to which our procedures are capable of dele¢tirrfJ irregularities, includir#J fraud, is detailed below. We oblained an understsnding of the legal and regulatory frameworks that are aFplicable to Ihe eTrtity and ils industry, and determined that the most significant are those that relate to breaehes of safeguarding, health arKI safety regulations. dats protection and employment laws. We also considered thos¢ laws and regulations that have a direct effect on the finanaal slalements such as FRS102 accounting principles and the Companies Act 2006. We have considered the extent to whith non-compllance might hav& a material effect on the financial slalements and also evaluated management's incentives and opportunities for fraudulent tnahipulalion of the finanual statem8nts.
POWNALL HALL SCHOOL TRUST LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF POWNALL HALL SCHOOL TRUST LIMITED established that the principal risks related to revenue recognition, magement bFas in 8ccounting eslimales and management override, rgcoverability of debtors, potential understslemenl of c[tOrS arKI the going concern ststus of the school. Audit pro¢odur6s perfomied included.. Performed a reconciliatn of total school fees to expectations based on pupil numbers and current fre rates. Reviewed fee invoices raised either side of the year end to ensure accounted for in the corr&t per. VoLKhed year end accnJals and prepayment balances to supporting invoices. Revi8Wgd payments and invoices post year end for omitted creditors and accruals. Ched(ed cash received after dale lo eonfim recoverability of year end debtors and ensure SLClent PfOVi5ion was includg(1. De&gned our audit procedures in order le inc(xporate unpredictability around th& naturo, timing ¢y extent of ow lests"ng. Identified and testéd journal entries to consider the appropsters9 of ioumal entrk•s arKI other adjustments., Assessed whether the judgements made in making accounting estimates are indicative of a potential bias; 8nd evaluated the business rationale of &gnifvnt transactions that We unusual or out*de the normal course of business Challenged assumptions made by management in making their significant accounting 8stimat8s. Reviewed financial statemgnl disclosures and tested lo supporting documentation to a559ss compliance with applicable laws and regulations. Reviewed managements assummions with Tegard to the going concem stslus of the school. Revlewed ofil and cash flow forecasts prepar8d for a p8riod in excess of 12 months from approval of the accounts. We ¢ommuni¢ate with those charged with governan regarding, among other matters. the planned scope "mlng of the audit and signrfic8nt 8udlt flndings. Induding any $ignifi¢ant deficiencies in intemal control that we identfy during our audiL A further descrFlion of our responsikn'lilies is available on the Financial Reporting CoLnciI's website al: https.'Il www.frc.org.uklaudilor3responsibililies. This dèscrsption foms part of our audrtor's report. Use of our report This report is made sotely to the charllable company's members. as a body. in awdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might Slate lo the charitatle company's members those matter$ we are required to stste lo them in an audrtor's ieport and for no other purpose. T¢ the fullest extenl Fenmffted by law, we do not accept or assume responsibility lo anyone other than the charitsble ompany and the charitable company's members as a body, for our audit work. for this report, or for the opinions we have formed. Chlo• Harrison ACA (Sonlor Statutory Auditor) for and behalf of Josolyn¢ LLP 18 March 2026 Charterèd Accountsnts ststulory Audltor Merchant Exchange Waters Green Macdesfield Cheshire SK116JX
POWNALL HALL SCHOOL TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrè$trlcted Rgstrlct•d funds funds 2025 2025 Total Unrostrlcted R88trlctsd nds funds 2024 2024 Total 2025 2024 Notes Incomo and endowments from: Donations and legaeies Charitsble activitS Investments Other income 350 3,929,983 16.608 1,036 1,386 3.929,983 16.608 36,604 36,604 3,755,896 4,524 13.489 3.755.896 4,524 13,489 Totsl Income 3.946.941 1,036 3.947,977 3.773,909 36,604 3,810.513 Expenditure on: Raisir#J funds Charitable activitie$ Other expenditure 10,fj63 3.591.238 12,641 10,663 19.060 3.610,298 12,641 15,569 3,488.614 24,233 15.569 17.651 3,506,265 24,233 13 Totsl expendlture 3,614,542 19,060 3,633,602 3,528.418 17,651 3.546,C67 Nèt Incomel{expendlture) and movem?nt in fvnds 332,399 (18,0241 314,375 245.493 18.953 264,446 Reconclllation ol funds: Fund balarKes at 28 AUst 2024 11,266,189) 244.995 {1,021.174} {1,511,6621 228.042 (1,285,620} Fund balance5 at 31 August 2025 (933.770 226,971 {7tJS.799} {1.266,169) 244,995 11.021,1741 The statement of finarla1 activrtres includes all gains and losses recognised in the year. All income and expenditur8 derive from continuing activities.
POWNALL HALL SCHOOL TRUST LIMITED STATEMENT OF FINANCIAL POSITION ASAT31 AUGUST2025 2025 2024 Notes Fixed assets Property, plant arKI equipment 15 1,104,065 1.134,215 Current assets Trade and ckner r8ceivables Cash at nk and in hand 17 254,297 667,212 176,226 1,037,902 921,509 (2,544.563) 1.214.128 {1,885,7561 Current IlabllSties 20 Nèt current Ilabllltlgs (1,623,054) 1651,6281 Total assets 1g$s current Ilabiliti•s 1518,989} 482,587 Non.current liabilities 21 1187.8101 (1,503,761} Net liabiliti•s 17C6.7991 {1.021,174) The funds of the school Restricted income funds Unrestrlcted funds 24 228,971 1933,770 244.99S 11,266,169) 1706,799 11,021,174) The financial stslements were approved by the Govemors on .... . Mrs E M MacAulay (Chair Governor Mr R Hill Governor Company registration number 00661518 {England and Wales) 10-
POWNALL HALL SCHOOL TRUST LIMITED STATEPIIENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Notes Cash flows from operatlng activiti•$ Cash {absorbed byllgenerated from operations {22,083} 1,100,490 Invgstlng actjvltles Purchase of property. plant and equipment Pro¢&eds from disposal of property, F4anl and equipment Inv8slment income received 66.6251 {222,1841 76,663 4,524 16,608 Net cash used In Investing actlvltles (50,017) 1140.9971 Financing a¢tlvlti Repayment of borrowings Repayment of bank loans Payment of finance leases oblitionS 1283.0001 110.0001 15,5901 {125.0001 110,0001 142,5751 Net cash u8ed in financlng actlvltles (298,5901 {177,5751 Net IdecreaseVin¢roase In cash and cash equlvalents {370,690) 781,918 Cash and cash equivalents at beginnlng of year 1.037.902 255.9B4 Cash and cash equlvalents at end of year 667.212 1,037.902 11
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 Aceountlng poll¢lgs Charlty Informatlon P¢)wnall Hall School Tru$l Limited is a private company limited by guarantee incorF)orated in EnglaTrJ and Vwdles. The registered officÈ is Pownall Hall School, Carrwood Road, Pownall Park. Wlmslow, Cheshire, SK9 5DW. 1.1 Accountlng Conventlon The financial statements have been prepared in accordance wth the school's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applIe in the UK and Republic of Ireland. I'FRS 102.1 and the Charities SORP 'Accounling and Reporting by Charrties.. Ststement of Recommenéed Practice applthble to chari118s prepariw their accounts in accordanGe wlh the Finanaal Reporting Stsndaré applicable in the UK and Republic of Ir&land (FRS 1021" leffeetive 1 January 20191. The school is a Public Benefft Entity as defined by FRS 102. The financial statements are prepared In sleding. which is the functional currenty of the xhool. Monetary amounts In these flnancial statements are r¢Junded to the nearest £. The finoncid stslements have been prepared under the historical cost convention, m(yJified to include certain financial instruments at fair value. The principal accounting poliCS adopted are sel out below. 1.2 Golng concern At 28 August 2024 the financing of the School comprised a loan of £1,050.000 from a personal lender and loans from Governors and their families of £283,000. Duriro the year the loan5 from the Govemrs and their families have been repaid in full in anticipation of the refinancing of the sthool with the School banker5. Shortly after the year end on 30th October 2025 the refinanung of the sch¢)ol was complelèj and the loan from the personal lender was repaid in full by a 20 yaar repayment loan for £1.075m from Lloyds Bank PLC. though the School's stslement of finanual posili¢)n as at 3151 August 2025 show a cUmave defiiit of £0.707m, thi5 is of murse with properties included al 8 depreualed cost well below their current values. During the year ended 31st August 202S the selllement of borrowings as detailed abpve of £283,000 learly demonstrates that the School is having no difficulty rneeltng lbIlitIeS as they fall due and is generating $ignificant operating cash flow5. Pupil numbers remain strong arKI draft management accounts and forecasts for the years lo August 2026 and August 2027 Indlcate that the school wll continue to generate sulfficient ca$hflows lo meal liabilikn.es as they fall due, and meet the repayment terms of the bank loan. The Trustees therefore have a reasonable expectation that the company has adequate resources to ntinUe in operational existence for the foreseeable futu. Thus they continue to adopt the going concem basis of aceounb'ng in preparfng the annu81 accounts. 1.3 Charltablo funds Unrestricted.fiJnds are available for use al the discrelicffi of the Governc in fvrtheTance of their tharitable objectives. Restricted fijnds are subject to specific condilions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the not&5 to the finanaal statements. Endowment fvjnds. are subject to specific conditions by donors that the capital musl be malntained by the school. 12-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng poll¢le$ Icontlnugdl 1.4 In¢omlng re$ource$ Income is recognis8d when the school is legally 8nlided to it after any perfomianc& conditn$ have begn mel, the amounts be measured reliably, and it is probable that income will be received. Fee Income 1$ recwi3*J in the Ststemenl of Finan¢ial A¢livilie$ on Ihe a¢¢rual$ basi$. Fees ¢eived In advanee of educatic to be provided in future years are held until either tsken to income in thè tem or else refunded. Cash donations are recognised on reeeipl. Other donations are recognised once the school has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation lo donations received under GiftAid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise rf the school has been notified of an impending distribution, thè amount is known. and receipt is expecled If the amount is not known. the legacy is treated as a contingent asset. 1.S Resources expend•d Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to third party, it is probable that 8 transfer of economic benefits will be required in settlemenL and the amount of the obligalion can be measure(I reliably. Expenditure is dassified by activity. The costs of each activity are made up of the lo181 of dIrt costs and shared costs, including support cnsts involved in undertaking each activlty. Direct costs attribuiable to a single actiwty are allocated directly lo that activity_ Shared costs which contribute lo more than one activity and support costs whith are not attributable lo a single activity are appcrtioned btheen those activitEs on a basis onsistenl with the use of resources. Central staff costs are allocated on the bas of time spent. and depreciation Charges are allocated on Ihe portion of the asseys use. ExpendibJre is aceounled for on an aeeruals basis. The eosl headings comprise expendrture, including staff costs and depreeialion, directly attributable to the activity. Where costs eannot be dbredy attn"bLrted they have en allocated to acllvilles on a fair and reasonablè basis. Support costs comprise all services induding an appropriate proportion of general overheads specifically idenlrfied as wholly or malnty incurred in sUPPOrt ot the direcL charitsble expenditure. Govemance cosls comprise the costs incurred in managing the schools assets, organisalional managemen[ administration of and compliance wilh the stalLrtory requirements of the school. IAhere overheads arKI other costs cannot be directly attributed they have been allated on the basis of management eslimales of the amount attn"butable to such activftie5, either by referen to staff lime or spa occupied. if malefial. Expenses weré inelusNe of VAT 8$ It was irrecoverable up lo and ineluding 8 December 2024. The school registered for VAT on 9 December 2024 and from th date expenses are exdusive of VAT. 13-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies Icontlnuedl 1.6 Property. plant and equipment Property, plant and equiprnent are initially measured al cost 8nd SUbsequenY measured at cost or valu8tfion. nel of depreualion and any impaimenl Ioss8S. Deprecith"on is recognised so as lo write off the cost or valuation of assets less their residual values ow their useful lives on the following bases.. Freehold land and buildings Prefab buildings Plant and machlnery Fixtures, ffttings, plant and equipment Computers and offi¢e equipment Moloi vehicles over 50 years over 20 years over 5 years over 10 years over 5 years over 4 years The gain or loss arising on the disposal of an asset Is detemined as the difference betsyeen the sale proceeds and the carrying value of thg asset. and is recognised in the statement of financial 8cliviiies. 1.7 Impalmi8nt of nonacurrènt assets At each rery)rting end dale. the school reviows the carrying onIS of it$ tangle assets to determine whether there is any indication that those assets have SLrffrered an impaimient loss. If any such indtiOn exists, the recoverable amount of the asset is e5tim8ted in order to determinè the extent of the impairment 1088 (rf any). 1.8 Cash and cash gqu5valents Cash and cash equivalents indude cash in hand, deposts held al call wlh banks. other short-temi liquid investments wlth orlginal maturities of three months or less. and bank overdrafts. Bank overdrafts are shown wrthin bornowings in current liabilities. 1.9 Financial instruments The school has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Finanal Instruments Issues, of FRS 102 te all of ils financial inslwments. Financial instrument$ are recogni5ed in the school's balance sh8et vA)en the schod becomes party to the conlraclual provision¥ of the instrumenl. Financial assets and Ilabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and the liability siMUneOUSly. Bask financial assèts Basic financial assets, which include trade and other rtceivables and cash and bank balances, are initially measured at transaction price including Iransadion costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where th& trarCtion is measured at the present value of the future receipts discwnted at a market rate of interest. Financial assets classified as receivable within one year are not n0sed. 14-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 A¢countlng policies Icontlnuedl Basic financial liabililios Basic finanaal liabilities, induding trade and other payables and bank loans are initially recognised at transaction pfice unless the arrangement constitutes a financing transactn. where the debt instrument Is measured al the present value of the fvlure payments discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or seNices that have been acquired in the ordinary cours& of operations from suppliers. Amounts p8yable are classified as c(rent liabililies if payment is due within on& year or less. If not, they are presented as non<urrent liabilities. Trade payabl&s are recognised initially at transaction price and subsequenlty measured al amort15ed cost using the effecb've interest methcrtl. Llerecognltlon of financial Ilabllltles Financial liabilibes are derecognised when the school's contractual obligalions expire or are discharged or canlled. 1.10 Employee beneflts The c05t of any unused holiday 6nlrtlèment Is recognlsed in the period in which the employee's servi¢e$ are reeelved. Termination benefils ar8 rocognised immediately as an expense when the Sd01 is demonstrably committed to lermir)ate the employment of 8n employee or IL) provide termination nefts. 1.11 Retlrement benoflts The School parb'cipales in a muhi employer pension scheme, the Government's Teachers Penslon Defined BeffitS Scheme, for its leaching staff. The pension liability Os the responsibility of the Teachers, Pensions. As a result it is not Pg$sible lo identrfy the assets and liabilities of the scheme that are attributable to the school. Accordingly, the heme is accounted for as il it were a defined contribulions scheme. The schcol also contributes t¢ defined contribution schemes for non-teaching staff. Conldbutlons payable f the year charged in the Slalement of Financlal Acliwties. 1.12 Leases Leases are das&fied as finance lease$ whenever the temis of the lea¥e transfer substantially all the risks and rewards of ownership lo thg lessees. All other leases are dassrfi8d as operaling leases. Assets held under finance leases are recognised as assets al the lower of the assets fair value al the date of inception aTrJ the present value of the minimum léase payments. The related liability 1$ included in the statement of financia1 position as a finance lease obligati¢)n. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net incomel{expenditurel for the year so as to wcxluce a constant penodic rate of interest on the remaining balance of the liability. 1.13 Government grants Govemmenl grant8 are recognised al the fair value of the asset r1¥1 or recelvable vthen Ihgre is reasonable assurance that the grant conditions will be mel and the grants will be recEived. . A grant that specffies performance conditions is recognised in income vknen the pertCanCe conditions are met. Where a grant doas not specify perforrnance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteii8 are satisfied is rQgnised as a 15-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies IContlnu•dl 1.14 Fwes in advance Fèes received in advance are deferred until such time that they tecome receivable, and are then recognlsed in the Statement of Financial Activ((ie5. Crfilcal accountlng e8tlmates and Judgements In the application of the schcd$ accounling poliaes, the Govemors are required to make judgements, eSMat•S and assumptions atut the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are bosed on hlslorical exp8rience and other fa¢tors that are considered to relevant. Adual results may differ from these eslimales. The estimates and undertying assumplion5 are reviewed on an ongoing basis. Revisions lo acwunling estimates are recognised in the period in which the estimate is revised Whe the revision affects cnly that period, or in the period of the revision and future wriods where the revision affects both current and future perK)ds. There were no SFecifi¢ issues idenb'fied during the rgview. Glfts and sp•eial recelpts Unvestrlcted Restricted funds funds Totsl RestNded funds Totsl 2025 2025 2025 2024 2024 Donation5 and gifts 350 1,036 1,386 36,604 36,604 InGomln9 r•8ourc•s from charltable activiti GroJ8 1888 Loss.. Total bursarie5, gran15 ond allowan¢e8 2025 Yotol 2025 Gro$8 L•&$'. Totsl burnorles. grants and allowancos Total 2024 2025 2024 2024 sa of goods Other income 4.166,507 18,694 1275,2181 3,911.289 18,694 3,994,853 28,614 {267.571) 3.727,282 28.614 4,205.201 1275,2181 3.929,983 4,023,467 {267.S711 3.755,896 Income from Investments Unreslrlcted Unrnstricted funds funds 2025 2024 Interest receivable 16,608 4,524 16.
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Other income Unrestrfclod Unrestricted funds lunds 2026 2024 Nel gain on disposal of tangible fixed assets 13,489 Raising funds Unrestrlctsd Unrestrlctod funds funds 2025 2024 in Advertising 10,663 15.569 10,e63 15.569 Charftablo a¢tlvltles Toachlng Premi888 Support Costs of schooling 2025 Total 2025 Total 2024 2025 2025 Staff costs Depreciats'on and impairment Olh8r chaFitable expenditure 2,364,05S 44,128 99,038 53.110 47.556 248.058 363.820 2.780.985 2,651,985 5,091 96.775 101.521 357.471 704,567 722.191 2.507.221 348,724 726.382 3,582.327 3,475,697 Share of support costs (see note 9) Share of vernance costs {see note 91 150 930 26,891 1,080 26.891 30,588 2,507,371 348.724 754.203 3.610.298 3.506.265 Anatysls by fund Unreslricied funds Restricted funds 2,507,221 150 330,744 17,980 753.273 3,591,238 3,488,614 930 19,060 17,651 2.507,371 348.724 754,203 3,610,298 3.5Ce,265 For the year gnded 27 August 2024 Unrestricted funds Restrided fijnds 2,406,110 366,494 17.651 716,010 3,488,614 17.651 2.406.110 384,145 716,010 3,506,265 17-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Support costs Support Gov•rnan¢• co¥ts costs 2025 2024 Baslg of allocatlon Staff costs Depreoation Printing, postsge and offi¢e ststion&ry Telephone costs Motor and travel Scho(A costs CompLrter costs Legal. prOfeson81 end eonsuttancy fees Equipment hi Bad and doubtlul debts 382,001 5.091 382,001 5,091 357,102 3.957 30,746 16,171 8.510 136,085 16.792 30,746 16.171 8.510 136,085 16.792 34.401 14,958 10.817 149.800 19.461 33,989 15,862 33,989 15,862 31,717 32,249 46,945 46.945 (8,140} Subscription8 aNI donation5 Sundry expens8s Audit fees Accountancy and payroll S¢hoc4 inspecticm costs 31,338 21,963 31,338 21,963 11,750 9,335 5.806 27.861 11,259 16,044 Govemance 9.846 Governance 4,678 Governance 11,750 9,335 5,806 745,493 26,891 772,384 716,010 Analysed befvleen Charitablè activities n7,312 26,891 754.203 716,010 Govemance costs includes payments to the auditors of £11,750 {2024- £16,044} for audit fees. In addthon costs of £9,335 were incurred on accountancy, bookkeepirKJ and payroll service$12024- £9,846). 10 Net movement In funds 2025 2024 The net movem8nl in funds is stsled after chargin{crediting).' Fee$ payable for the audit of the charty's financial stslements Depreciat1 of owned property, plant and equipm8nt Depreciation of property, plant and equipment held under finance leases Lossiiprofit) on disposal of propety, plant and equipment 11.750 88,928 7,847 16,044 93.674 7,847 (13.4891 11 GoYemor& ne of the GovemoTS lor any persons connected with them) received any remuneration during the year an total rgimbursed expenses amounted lo £Nil12024- £74). 18-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {coKfiNUED) FOR THE YEAR ENDED 31 AUGUST2025 12 Employo•s The average monthly number of employees during the year was: 2025 Number 2024 Number Teathing staff Support Staff 61 20 62 Tot81 81 81 Ernploym•nt costs 2025 2024 Wages and salaries Soaal security costs Other pension costs 2.241,443 225,695 313,847 2,166,376 195,811 289.798 2,780,985 2,651,985 The number of employee5 whose annual remuneration was more than £60,000 is 8s follows.. 2025 Number 2024 Number £60,001 - £70,000 £90,001 - £1 L)O.000 £100,001- £110.000 Of the empl¢)yees whose emoluments exceed £60,000, 1 12024- 11 has retirement beneffts accruing under a deffined benefit pension scheme ITPSI described more frjlly in note 21. 1 has retirement benefits accruing under a defined contributK)n pension scheme. 13 Oth•r 2026 2024 Financing interest and charges 12,641 24,233 12.641 24,233 14 Taxatlon The tharily 15 exempt from laxalion on its activities because all its income is applied for charitable purposes. 19-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 15 Property. plant and equlpment Frn•lK*KI lond Flxtwes. and builrfings fittirws. plart equlpmert Total vehic Cost Al 28 August 2024 Additions 1.614.767 1,096.434 56,739 20.000 2.731.201 8.000 66,625 Al 31 August 2025 1.616.853 1.153.173 28.000 2.797.826 D&preclatlon and Impalmient Al 28 August 2C124 Depwation tharged in the year 806,302 33.845 777,350 56,097 13,334 1,596,986 6,833 S6,775 Al 31 August 2025 840,147 833,447 20,167 1,693,761 Carying amount Al 31 August 2025 776,508 319,726 7,833 1,104,065 Al 27 August 2024 808,465 319.084 6.666 1,134,215 The nel carrying value of tsngible fixed assets includes the following in respect of assets held under finance leases or hife purchase contracts. The depreciation charge in respect of SLKh assets amountsd to £7,847 12024- £7,847) for the year. 2025 2024 Motor vehi¢le$ Computers and office equipment 6.667 1.180 6,667 1,180 7.847 7,847 16 Flnancial instruments 2025 2024 Carylng amount ofllnanclal as80ts Debt instruments measured at amortised cost 157.418 72,547 Carylng amount of flnanclal Ilabllltles Measufed al amortised cost 1,451,042 1,909.885 -20-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 17 Trad• and Othgr roceivables 2025 2024 Amounts falllng duo wlthln one year: Trade receivables other receivables PrgpayTnents and accrued income 158.605 813 96,879 68,935 3,612 103,679 254.297 176,226 2025 2024 Bank loans other loans 11,667 1,050,000 21,667 1.333,000 1,061,667 1.354.667 Payable within one year Payable after one year 1,060,000 1.667 293,000 1,061,667 The loan of £1,050,ODO from 8 third party indivhgual Is secured by a legal tharge over the property known as Pownall Hall School, Carrwood Road, Wllmslow, SK9 5DW The loan from the third paty individual started on 2fjth August 2022 and is interest free for a period 36 months at which point the school will have obtained replacement funds from ils bankers. This loan was repai in full on 301h October 2025 from the proceeds of a 20 year repayment loan for £1.075m granted by Lloyd5 Bank Plc. The loans from the Govemorfs and their familie$ Cary an intar8St rate of 2.5% pa above base Imir¥mum 3% pa)., although 3% per annum has now been agreed as the maximum rate. These loans have since been extended and repayments have commenced. During the year ended 31st August 2025 there has been repayments totslling £283,000 of these loans and they have now been deared. The are no Gov8morfs loans OLrtstsnding al 31stAuyusl 2025. Additional commentary on these loans is provided in the Goverhors, Report and in Note 1.2. 19 Finance lease commltments Future minimum lease payments due under finarte leases.. 2025 2024 fithln one year Less.. fvture fin8nce charges 421 6.898 1887) 421 6,011 21
POWNALL HALL SCHOOL TRUST LIMITED MOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 19 Flnance lease commllments Icontlnuedl The above represents finwKe leases lo acquire e¢wipment and motor vehides entered into for a term of 3 or 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. The fnance lease eredilots are secured over the assets to wtiith they relate. 20 Current Ilabllltl•s 2026 2024 Notes Bank loans Obligations under finance leases Other borrowings Other taxation and social security Deferred income Trade payables Other payables Accruals IB 10,000 421 1,050,000 155.111 940,077 124,717 217,781 46,456 10.000 6,011 283,000 44,921 972,617 266,415 200.060 82,732 22 2,$44,563 1,865.756 Other payable includès deposits of £166,401 12024 - £148,9841 teChnillY payable wlh one terms notic8 hence included as due in under 1 year, However, expectation is that these wll be repaid over a numtrEr ol years as each pupil leaves the school. 21 Non-curr•nt Ilabllllles 2026 2024 Notes Bank loans Other borrowngs Deferred ineome 18 1,667 11,667 1.050,000 442,094 186.143 187.810 1.503,761 -22-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 22 Deferred Income 2025 2024 Arising fron Advan fees and deposits 1,126,220 1,414,711 Deferred income is induded in the financial slalemenls as foll¢)WS'. 2025 2024 Current liabilities Non-currenl Ihqbilities 940,077 186,143 972,617 442,094 1,126,220 1,414.711 Fees In advance movèment 2025 Brought foard August 2024 Ulilised in year ReiVed in the year 1,414,711 (972,617} 684.128 Carried forward atAugust 2025 1,126.220 Parenls may enter into an agreemant Io pay the school fees in advan. The money may be returned subject to specific conditions on the recèipt of one t8nn's notKe. In addition the school receives advance payments from Cheshire East in respect of childcare funding for the Earfy years pupils and from parents pric to the 818rt of the Mithaelmas term in September. The amounts paid in advance are split befven fees in Connli0n th the year ended 31stAugusl 2026 and lifetime fees paid for future school years post 31stAugust 2026. -23-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 23 Rellremènt beneflt schemes The school participates in the Teachers. Pension Seheme {Ihe TPS") for its leaching stsff. The pension harge for the year includes contributions payable to the TPS of £287.05112024 - £266,1361 and al the year end contributions of £29.955 {2024- £32.2081 aecruèd in resreet of conlribjtions lo the scheme. Thé TPS 1$ an unlunded multi4mployef def*d beneflls penslon scheme govemed by The Teachers. Pensions R¢gulab'on$ 2010 (a$ amended) and The Teachers, Pension Scheme Regulalions 2014 las amended). Members conlrib¥Jte on a 'pay as you go. basis With contribLrtions flom members and the employer bèing credited to the Exchequer. Retirement and other penSIc benefits are paid by fvnds provided by Parliament. The employer contribution rale is sel by the Secretsry of Sle following schem8 valuations undertaken by the Govemmenl Actuary's Dep8rtmenl. The most recent actuarial valuats'on of the TPS was prepared as at 31 March 2020 and the Valuation Report. which was published in October 2023. The Valuation Report slM)ws notional assets of £222.2 and liabilities of £262bn. resulling in a home deficrt of £39.8bn. The 8mployer contribution rate for Ihe TPS is 28.6%, and employers are also required lo pay 8 scheme adminislralion levy of 0.08% giving a total employer contribution rate of 28.68%. The school has also during Ihg year established aTr Aviva Pension TnJ5t for Independent Schools IAPTISI vthich is a defined ntributIon scheme as an allernotive lo TPS. From 1st January 2026 the school has entered a stale of phased withdrawal from TPS meaning that no new membgrs wll be admitted to the TPS so teachers will only have the option of enrolling in APTIS. The schod also h88 a NEST auto enrolment defined contrlbution scheme for supwt staff d Ihe school, 17 15 a150 available to teachers opting out of the TPS or APTIS scheme8. The charge to profil or loss in respfjd of defined contribution schemes was £27,71912024- £23,662). and al the year end £5,615 was acerued {2024- £4,458) in respect of contributions to these schemes. -24-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 24 Rostrkted fvnds The funds of the tharity include restricted funds comprising the frAlowing unexpended balances of donations and grants held on trust for specific purposes. The expgnded resources relate lo the depreryation tharges for the period and repair work undertaken in the year. At the year end, unexpended income was £226,971 12024 - £244,995) Movement In funds Incomlng R•sources B¥l8nce at re80urce5 *xppnded 28 August 2024 Movement In funds Incornlnp Resour¢ rosourc•s expeThJed Balance at 28 Aug1 2023 Balance at 31 August 2026 Roof appeal Playmatt Netballl Tennis court Event tables EYFS Canopy and play area Mis¢ellaneou s income an costs Astro turf OuldcK)r classroom and lighting Cricket works st&Je lighting, sound and recording equipment Outdoor play area Theatre refijrb Floodlights Sdence lab refurb Artificial grass play area EYFS play equipment Hall floor restoration Play equipment Theatre lights Art department 79,873 {2.S76} 77,297 12,576> 74,721 18.241 {53n 17.704 1537} 159} 17.167 706 3,371 {2,8211 750 17431 330 (3301 17531 32,493 1758) 31,737 30,984 6.067 3,700 11,517) 182) 4.550 3,618 {1,5171 1821 3,033 3,536 4,308 18621 3,446 {8621 2,584 14,783 13211 14.462 13211 14.141 5.415 4,538 16771 14691 4.738 4,069 16771 1470> 4.C61 3,599 29,850 {3,0881 26.762 13,088) 23,674 23,403 {2.421 20,982 12,421) 18.561 25,854 11,7241 24.130 12,585) 21.545 5,1100 5,000 1583) 4.417 606 5,000 606 5,000 16Ck31 17C61 4,294 144 144 {1441 226.042 117,651) 244,995 1,036 119.060} 226,971 -25-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED> FOR THE YEAR ENDED 31 AUGUST 2025 25 Unrnstrfctsd funds The unreslncled fijnds of the charty mprIse the unexpended balances of donali¢)ns and grants which are not subject lo specific conditions by donors and grantors a$ lo how they may be used. These indude designated funds which have been sol aside out of unrestllcted funds by the trustees for specific purposes. At 28 August 2024 Incomlng resources Resources At 31 August expended 202 General funds {1,286,169) 3,946.941 13.614,542) 1933.7701 Provious year: At 28 August 2023 Incomlng resources Resources At 27 August expended 2024 General fund8 {1.511,6621 3.773,909 13,528.4161 {1,266,169} 26 Analysb of nèl assets between fvnds UnTe5tricted fund5 2025 Rgstricted funds 2025 Totsl 2025 At 31 August 2025: Propety. plant and equipment Current assetsllliabilibos) Long tem liabilities 877.094 (1,623.0541 1187,8101 226,971 1,104.065 11,623,054) 1187,810 {933,7701 226.971 1706,7991 Unrostrlcted funds 2024 Restrlctgd funds 2024 Tolal 2024 At 27 Au9USt 2024: Propety, plant and equipment Current asselsllliabilitiesl Long temi liabilitie$ 889,220 {651,8281 11.503,7611 244.995 1,134.215 1651.8281 11,503,761) 11,266,1691 244,995 11.021.174) Restricted Fund8 are funds which have been given for particular purposes and projects. The restricted fund must be used for the purpose specrfied ie; roof appeal. the netball court. nursery play floor, Bay Imndow repairs, Pupil playground, quality improvement, ICT sofvare and Earfy Years Foundation Stage canopy and ay area. -26-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 27 Operatlng l•as• commltm•nts At the reporting end dale the ScCl had outstanding commitments for fulure minlmum lease paymen15 under non-cancellable operating lease5, whKh fall due as foll¢)ws'. 2026 2024 thin one year Behveen and flve year5 13,654 27,328 38.245 125.688 40,980 163.933 The operating leases represent leases of telephones. copiers and computer equipment from thlrd pae8. The leases are negolialed over terms of 5 years and rentals are fixed for this period. Amounts recognised in the Statement of Fingncial Adivits'es for the yearwas £15,86212024- £32.249). -27.
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 28 Rglat8d party Iransa¢tlons Remuneratlon of key management pgr50nnel The remuneration of key management pers¢)nnel was as follows.. 2026 2024 Aggregate eompensalion 170,000 153,107 Loans During previous y&ars, the school reIved100ns from G¢ernor Mr G D Dawberf$ immediate family and from the Chair of G¢vemDrs Mrs E M MacAulay, shown in other loans in note 17. These loans remaln outstanding as foll¢)WS.' Loans from th¢ famlly of Mr G D Dawb8r Balance Balan¢• outstanding outstsndlng 27th August Advances in Ropayments 31st August 2024 pèrlod In period 2025 Loan from A Dgwber (wife of Mr Dawberl Loan from G Davthr Ison of Mr Dawber) 145,500 89.000 145,500} (89,000) 234,500 {234.5001 Above loans were originally agreed vAth interest payable at base rate plus 2.5PA (minimum 3% pal. As a result of a subsequent agre@ment, interest on the loans is now fixed at 3% pa. The above loans are being repaid monthly from January 2024 subject to G4shfiow. Repaymenls totalling £145,500 were made toA Dawber during the year ended 31stAugusl 2025. Repayments totslling £89,000 wère made to G Dawber during the year ended 31 stAugust 2025. The terms of the loans, induding interest rale payable, were approved by the Governo lexeluding Mr Dawberl having regards lo prevailing rates for loans and deposits. Interest of £9.411 has been paid during the year and further interest totalling £3.588 is acGrued at th& year end. The interest charge lor the pertod In relation to the above loans is £3,588. Loan¥ from Mrd E M MacAulay Ichalr ol the Board of Govèrnorol Balance outstanding outstandlng 27th Augu Advanc95 In Repaym9nts 31st August 2024 perlod In perlod 2026 Loan from EM MarAulay 48.500 148,5001 48,500 148.5001 Above loan was originalty agreed wth interest payable at base rate plus 2.S% (minimum 3% pal. As a result of a subsequenl agreement, interest on the loans is now fixed al 3% pa. Repayments totalling £48,500 were made lo Mrs E M Ma&4ulay dwng the year ended 31stAugUSt 2025. -28-
POWNALL HALL SCHOOL TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 28 Related party transactk>ns Icontlnuedl The temis of the loans, induding interest rale payable, were approved by the Governors {excluding Mrs Ma¢Aulayl having regards to prevailing rates for loans and deposits. Inleresl of £1,976 has been paid during the year and further inler8St tolalling £717 is ac¢nd 8$ at August 2025. The intere81 charge for the ri0 in relation lo the above loans is £717. 29 Cash labsorbod byllg•nerat•d Irom operations 2026 2024 Surplus for the year 314,375 264,446 Adjuslrnènts for. Inv8slment income recognised in sL7tement offinancial octivitse$ Gain on disposal of property. plant and eqviprngnl Depreciats'on and impaim)enl of property, plant and equlpment (16.6081 14,524} {13,489 101,521 96.775 Movements In worklng capital: (Ine95e1 in trade and other receivables (Decrease) in Ir8de and other payables (Decrease)lincrease in deferred income 178,0711 (50.0631 {288,4911 124,7971 189,4791 866,812 Cash (absorbed byllgenerated from operatlons 122.0831 1,100,490 30 Analy81$ of change$ in not {dobtllfund$ At 28 August 2024 At 31 AUgl 2025 Cash al bank and in hand 1,037.902 (370,6901 667,212 Loans falling due wthin one year Loans falling due after more than one year 019allOnS under finance leases 1293,0001 11,061,667) 16,0111 (767.0001 11.060,0001 1,060.000 11,6671 5,590 14211 1322,776) 172.100} 1394,8781 -29-