REGISTERED COMPANY NUMBER: 00539636 (England and W81¢5) REGISTFRFD CHARITY NUMBER.. S26609 REPORT OF THE TRUSTEES AND AUDITED FIP4ANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 FOR C.P.S. IPRESTONI LIMITED Ainsworths Limited Chartered Accounianis and Statstory Auditors Charter House Stansfield Street Nelson Lancashire BB9 9XY
C.P.S. (PRESTON) LIMITED CONTENTS OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 Page Report of the Trugtees Report of the Independent Auditors Statelnent of Fin*ncial Aetivities 12 Balan¢e Sheet 13 Cash Flow Statement 14 Notes to the Cash Flow Ststement Notes to the Financial Statements 16 to 25
C.P.S. {PRESTON) LIMITED REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial stateinents of the charity for the year ended 31 st August 2025. The trustees have adopted the provisions Of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 20191. Reference and adn]inistration details of the Charity. its Trustees and Advisors The Reference and Administrative infomiatioR are set out at the end of this report. The financial statements comply with Cuent statutory requiiements. the Memorandum and Articles of Association and the Statement of Recommended Practice applicable to charities. OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the charity are set out in paragraph 3 of the Memorandum and Articles of Asso¢iation of the Company. the principal objective being referred to as follows= "The carying on of a school in the counry of Lancashire, and the doing of all such other things as are incidental or conducive to the attainment of the above object." In setting its objectives and planning its activities the governors have given careful consideration to the Charity Commissions general guidance on public bcnefit and in particular to its supplementary public benefit guidance on advancin(T education and on fee charging. Si Plus X Preparatory School was founded in 1955 by a group of Catholic Preston businessmen. It is owned by C.P.S. IPTe5ton) Limited, and is a non-profit making charitable trust administered by a board of tsovernors.The school is a member of the Independent Association of Preparatory Schools and is recognised by the Department of Education and Employment. li is co-educational and has a Catholic foUndatOn, but welcomes children of all denominations and faiths. St Plus X has a trddition of academic excellence and is committed to nurturing and enhancing each child's acadeTnic and social development. li is committed to safeguardints and PTomotill(T the welfare of its pupils. The charity aims to maintain it5 high standard of caring and academic success by continuing the current level of qualiry teaching and commitment by its staff. The School piovsdes a full nurserylprimarylpreparaiory education for children between the age5 of 2 and I l years and welcomes children from all backgrounds. It operates three departmenis.. EYFS. Key Stage l and Key Stage 2. The school is academically successful, achieving a high pass rate to the area's leading state bjrammar schools and independent schools with many pllpils gainin top scholarships. The leavin¥ cohort gained places to the senior schools of their choice. The school has a high sporting profile, covering a good number and wide range of sports for all children. Sport is played competitively and at club level. The school also operates a number of clubs linked to arts, music, drama STEM and Leadership etc. Page I
C.P.S. (PRESTON) LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 Our ethos C.P.S. {Pre5ton) Limited is a charitable trust which seeks to benefii the public through the pursuit of its stated aims. Our fees are set at a l¢vel to ensure the financial viability of the school and ai a level that is consistent with our aim of providing a first class education tLI ix)ys and girls. Our school welcomes pupi15 from all backgrounds. To adtnit a prospective pupil. we need to be satisfied that our school will be able io educate and develop the pupil to the best of their potential. Entrance interviews and assessments are undertaken to satisfy ourselves and parents that potential pupils can benefii from the education we provide. individual's economic status, gender, ethnicity, race, religion or disability do not fomi part of our assessment processes. We are an equal opportunity organisation and are committed to a working environmeDt that is free froTn any forni of discrimination on the grounds of colour. race, ethnicity, religion, sex, sexual orientation or disability. We will make reasonable adjustments to meet the needs of employees or pupils who are or become disabled. Our school is comrnitted to safeguarding and pn)moting the welfare of our pupils and expects all staff and volunteers to share this ctsmmitmenl. Public benefit The trustees are confident that the charity offers services of real and practical use to th¢ local population and therefore complies with the responsibility placed on all charities under the Charities Act 2011 to demonstrate a public benefit. It is important to US that access to the education we offer is not restricted to those who can afford our fees. We believe our pupils benefit frorn learning within a diverse community. A great deal of leaming occurs through social interaction, conversation and shared experiences which helps our pupils develop an understanding of the perspectives of other people that will be vital in their adult lives. The trustees approved a bursary scheme (community award) which was introduced in September 2009. The award is advertised each Sprin¥ and continues to benefit families who would not oiherwise be able to afford the fees and therefore access ihe education offered by St. Plus X. The trustees have paid due iegard to the guidance of the Charity Commission on public benefit in deciding what activities the charity should undertake. The trustees are aware of their responsibilities in this respect. The bursary scheTne, refted 10 above. is intended io provide public benefii. The trustees intend to provide appropriate services and facilities to ¢omply with the 'public benefit" requirements. Details on amounis awarded through the bursary scheme can be found in not¢ 4 to the accounts. Investment poliey Under the MemoranduTn and Article5 of Associat2on, the eharity has the power to make any investments which th¢ trustees see fit. ACHIEVEMENTS AND PERFORMANCE Charitable actiiities The Board of Governors would like to publicly acknowledge the dedicated contribution and professionalism of the schools teaching staff and siunificant contribution made by all ol. the ancillary staff without whotn the school would not have achieved the year's success. In November 2025 rhe Independent School In5pe¢toraie assessed ihe Quality of Education and Compliance. The school was delighted to hear the inspectors were highly impressed with the qllality of education. training and r¢cr¢ation in our school alongside with pupils, social and economic education and contribution to society. Page 2
C.P.S. (PRESTON) LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 Academics Th¢ acadeTnsc year 2024125 showed ongoing and further success for our Year 6 pupils with outstanding results to Grammar Schools and Independeni Senior Schools. 6 Grammar School places were achieved by our pupils. 3 pupils, also pa55ed the entranc¢ exam5 to Senior independent schools, and accepted those places. Since September 2022 the school has further overhauled, extended and enriched the timetabled curriculum throughout the EYFS. Key Stage l and Key Stage 2 areas. Performin & Creative Arts Many children play different musical instruments. All children currently access at least 45 minut¢s of music-related CU1culu per we¢k. All Children leave St Plus evidencing a wide-ranging musical awareness. The school holds a Christmas Carol Service and an EYFSIKSI Nativity each year. All children participate in public performances throughout the year. from our youngest pupil in ihe EYFS to school leavers at the end of Key Stage 2. Inspiring teaching and dedicated staff has maintained this enrichmeni. Drama, dance and poetry recitation has been added to our aesihetics programme during the year for all pupils. Productions exhibit an amalgaTnation of creative and perfomiing arts skills. giving opportuniiies to all pupils throughout ihe school. Since September 2021 the school has introduced a sp¢¢ific curriculum lesson of Speech & Drama to enhance this provision. Speech and Drama is a ¢urriculum subject. This ha5 been a huge success and our school is registered as an examination cenire for New Era Academy Drama and Music Exams for our children. The school freely provides the facility for our children and when required, local children from other schools. to take their ballet and musical theatre Royal Ballet exams at our s¢hool. ort & Outdoor Education Our aim is to be all inclusive and offer optimum sportints opportunity to all children, along with healih and fitness at all levels. Outdoor Education and Forest School have been successfully embedded. The school continue5 to host football and netball matches and tournaments for independent and state school hildren. The school provides the opportunity for the chsldren to go on 3-day tours to play against independent and slate schools. The School continued to implement Fitness and Wellbeing in the curriculum to lead on best practice in Mental & Physical Health. Younger and older children participate in organised festivals and tournaments across the regson, enabling a healthy awareness of eompetitive Skills. Communi Access The school sees itself as part of the wider community - this is r¢flected in the provision of a heart defibrillaior attached to our Property for the use of by the general public. Our children frequently use the local area for investigative purposes as part of their studies - including urban and natural environments. We are frequently seen in the Community visiting and singing carols for the ntarby community of nuns and providing service and entertainment for the elderly in the area. Chari The school provides food for the Ingol {Preston) food bank (Share IT) twice a year as part of our Lenien Charity, Christmas Shoe-Box Appeal and Cafod Harvest Charity. The children hold a Christmas charity day and iniiiare their own stalls and fund-raising ideas to try to achieve their targets for the school.. previously a new roof, new furniture, WTiting resources, staff provision etc. The school children choose their own charity to support - this becomes an anchored spotlight for specifi fundraising where delegates from each class propose an aid-ortsanisation. After a rigorous election process, the following chariiies were supponed chosen for ihe year 202412025.. NSPCC. Save the ChildTeR,' CAFOD., Jeans for Genes and th¢ Poppy Appeal. The school continues to develop each and every child's individual awareness of authentic Gospel values. These principles, woven together by lovin(T God and neighbour. enables our charitable giving to become pan of our DNA - calling us to work towards the Common good. Page 3
C.P.S. (PRESTON) LIMITED REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 Additional Children are also invited by the school to participate in joint resid¢ntial sport tours - football and netball - to experience different venues in and around the York area. The Curriculum was enhanced by the introduction of '4 Pillars of Learning.: Outdoor Education, Forest School, Mindfvlness, Sign Lan¥uage all suppon our strong Academic credentials. FINANCIAL REVIEW Financial position The school ha5 had a better year from a financial perspective cOMpad to previous years. The income has increased, however the costs have remained 5imi13r.The result is a deficit of £44,460 compared to £143,300 in the previous year. The school has been experiencing a fall in pupil numbers in recent years but this has now slowed. Retention and recruitment has improved, visit5, applications and registration are beginning to increase. Th¢ goveTnor5 are very mindful of the fall in pupil numbers overall and the need to reduce expenditure to compensate for this. They are currently undertaking steps to address both of these issues. Remedial action on salaries, fees and expenditure were put in place and costs continue to fall. The governors are pleased io report that the school has a strong leadership structure in place. There is clearly now a school with unified departments, with these departments IEYFS and Main School l-vl) being led by very well-experienced managers. This has allowed departm¢ntal budgets to be centralised providing better control. The governors, development plan is io re-establish a two-form entry. This will, over a five-year period, retum the numbers in the school to where they should be to provide a stable and successful school. Th¢ school's fee collection policy has again proved to be satlsfa¢tory, however, the School ended the year with an overdraft posiiion of £138,068, increase from the overdraft last year of £124,922. The school has secured a bank overdraft of £200.000 which is in place until July 2026. Farnily Discount5 Policy To underline the value plac¢d on continuity for families. the tNsiees offer discounts where parents have more than one child in the school. The governors have resolved that from SepteTnber 2016 onwards, they are pleased to offer discounts to membeTS of siaff whose children wish to come to ihe school. Governors see this as a very positive move to both retain and attract new teaching staff and at the same time extend the benefit to families who might otherwise not Provide private educaiion to their children. Reserves poliey The governors reg7ularly review the finances, budgets and spend against budget together with a monthly cash flow analysis as part of the effective stewardship of the School. As shown on the Balance Sheet the free reserves are currently in deficit of £432,536. This 15 as a result of operating at a deficit in recent years. Plans have been put in place to manage expenditure for the forthcoming year. Whilst the reserves are not of the level we seek to maintain, the trustees consider thai given the strength of the charity'5 balance sheet, Ihe continued cash tlow from fees, and the bankin(T facility, the reserves are adequate in the short temi. The trustee5 are however fully aware that the level of free reserves, together with the reduction in pupil numbers, makes for a challenging environment. The governors re¢ognise that the level of reserves has reduced in recent year5 and arrangement5 are in place wilh our bank (o bridge any short tenn deficits in cash flow. Page 4
C.P.S. {PRESTONI LIMITED REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing do¢ument, a deed of trust, and ¢onstitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity is a charitable company limited by guarantee and a registered charity governed by its memorandum and arti¢les of association dated 23 October 1954. as amended by special resolutions p&ssed 28 April 1955, 1 l December 1971 and 28 April 2020. Reeruitment and appointment of trustee5 The Board of Trustees always seeks to appoint new members of the Board with skill sets appropriate for the needs of the school. Pr05pe¢tive trustees are invited to become members of the Board of Trustees. The prospective trustees will almost always will be selected from past parenis. The prospective trustees are interviewed by the Chairnian or other existing members of the Board to explain the responsibilities and commitment required of the tntstees. In the new fnanCIal year, the Board has invid nominations from parenis and members of staff to appoint new govemors. Again. these people will be interviewed and their responsibilitie5 explained in detail. Training will be provided to prospective trustees if they never had previous experience of such an appointment. None of the trustees has any beneficial interest in the company. All of the trustees are tnembers of the company and guarantee to contribute £1 in the event of a winding up. Organisation and polieies Policies are determined. from time to time, by the governing body of the School, with regard to the Christian. moral, educational, cultural, sporting and social activities of the school. Like all educational establishments the school has certain defined policies which are required by its Inspe¢tors and Regulator5. Policies are drawn up within the school and then approved by the Head and submitted to the Board of Governors, which will approve those policies. Since there are many policies, the approval process is often passed down io the Commitiees. where th¢ Chair of the Cotnmittees will approve the policy to then be ratified at the full Board Tneeting. The school is organised and administered by a governing body consisting of the Board of Governors. comprising all the tNstees. The Board of Govemors meets ihree times a year, The irustees who are not dire¢lors are appointed by the Board. The Board of governors may approach individuals 10 aci as trustees when vacancies arise or when it is considered that the Board requires additional expertise in a particular area. Candidates are inierviewed before being appoipted. Policies are in place for the induction and training of trustees through the provision of various documents and mentoring. There are also comtnittees responsible for finance, education and staff. grounds and property, aDd business operations, managFed by smaller groups of governors reporting to the board at th¢ temily meetings. The school is managed and admipistered by the Headteacher. and slatTon a day-i(Fday basis. who are responsible to the gov¢rninbJ body. Related parties There were no transactions with any related party other than the paJThent of key management personnel and trustee indemnEty insurance. Page 5
C.P.S. {PRESTON) LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk N]anagement The trustees have assessed the major risks to which the charity is exposed, and are Satisfied that systems are in place io mitigate exposure to the major risks. The main risk faced by the school are the uncertainties of the future school numbers Since this is the major funding source. Additional revenue streams continue to be explored. The trustses are aware of this risk and monitor thi5 on a regular basis in line with school numbers and produce forecasts in order to determine the extent of risks in respect of future years. The economic climaie currently has certainly atTected pants, ability to choose private school education and the school has received a more than usual number of requests for rinancial assistance under the s¢hool's bursarylcoTnmunity fund provision. This is not an open chequebook for parents but occasionally there are some significantly deserving cases where the school is able to help with the provision of school fees. Trustees are constantly looking at ways of promoting the school. particular the school's track record on entrance success io senior schouls which has been remarkably good over recent years. The school has enjoyed good liquidity of recent years though with the anticipated fall off of pupil numbers, the ttee5 have sought to mititsate the cashflow risk by seeking bank support as a short term solution. The Trnsiees have put in place policies concerning Health and Safety and in particular the risk to children's safety both on site and from external sources. The school operates on a "secure perirneier" which protects ¢hildren for the whole time they are at school. REFEREIYCE AND ADMINISTRATIVE DETAILS RegisÉered Company number 00539636 (England and Wales) Registered Charity Dumber 526609 Registered office St Plus X Preparatory School 200 Garstang Road Fulwood Preston Lanca5hire PR2 8RD Trustees R Luthra YLow' V S Golhar ' A trustee who is a director for the purpose of Companies House, is denoted with an ' following their name. The director5 of the charitable company are also trustees for the puryose Of charity law and throughout this report are collectively referred to as the trustees. As set oiit in the Articles of Association, the number of directors is limited 10 three and these are elected by the members of the charity attending the Annual General Meeting. The directors retire by rotation land being eligible may be re-elected) at the Annual General Meeting. All truste¢s give their lime freely and no remuneraiion or expenses were paid in the year. No irusiee or person connected with a irusiee received any benefjt frotn tnean5 tested awards. Page 6
C.P.S. (PRESTON) LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2025 REFERENCE AND ADMINISTRATIVE DETAILS Auditors Ainsworths Limited Chartered Accountants and Statutory Auditors Charter House Stansfi¢ld Street Nelson Lancashire BB9 9XY STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of C.P.S. (Preston) Lirnited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statemeDis in accordance with applicable law and United Kingdom Accounting Standards (Unit¢d Kingdotn Generally Accepted Accounting Practice}. Company law requires the trustees io prepare financial staiements for each financial year. Und¢r that law, the trustees have elected to prepare the financial statements in accordance wilh Uniied Kingdom Generally Accepted Accounting Practice {United Kingdom Accounting Standards and applicable lawl. Under company law the trustees Tnust not approve the financial statements unless they are satisfied thai they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of ihe charitable company for that period. In preparing those financial statements. the tW5tees are required to Select 5Ultable accounting policies and then apply thern consistently; observe tlie methods and PTinciples in the Charitie5 SORP., make judgements and estimates ihat are reasonable and prudent,. prepare the financial statements on the going concem basis unless it is inappropriate to presuTne that the charitable company will continue in busines5. The trustees are responsible for keepino proper accounting records which disc105e with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the as5et5 of the charitable tompany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. In so far as the trugtees are aware.. there is no relevant audit infomiation of which the charitable company's auditors are unaware., and the trustees have taken all steps ihat they ought to have taken to ake thetnselves aware of any relevant audit infomiation and lo establish that the auditor5 are aware of that infomiation. AUDITORS The auditors. Ainsworths Limiied. will be proposed for re-appoilltment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on 14th May 2026 2nd gigned on its behalf by.. YLow-Tru Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF C.P.S. (PRESTON) LIMITED Opinion We have audited the financial statements of C.P.S. (Presion) Limited (the 'charitable cornpan) for the year ended 31 st Augusi 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the fin&ncial statements. including a summary of significant accounting policies. The financial reponing framework that has been applsed in their preparation is applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state ofthe charitable company's affair5 a5 at 31 st August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepied Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable cotnpany in accordance with the ethical requirements that are Televanl to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled OUT Qther ethical responsibilitie5 in accordance wilh these requiremenis. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Material uneertainty related to going concer In auditing the financial statements, we have eoncluded that the trustees use of the going concern basis of accounting in the preparation of the financial ststements is apprupriate. Our responsibilities and the responsibilities of the trllstees with respect 10 goin(T concern are described in the relevant sections of this report. We draw attention to the Accounting Policies. which highlight the charity's reliance on the overdraft which 15 only currently in place until July 2026. The trusiees have ¢onclllded that the charity remains a going concern, however thes¢ events mean a material uncertainty exists that may cast doubt on the charity's ability to continue a5 a going concern. Our opinion is noi modified in respect of this matter. Other information The irusiees are responsible for the other infom)ation. The other infomiation Ctsmprises the infomiation included in the Annual Report, other than the fll)ancial staiements and our Report of the Independent Auditor5 thereon. Our opinion on the financial statements does not cover the other inforrnation and, exeepi io the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomiation and, in doing so, consider whether the other infoTmaiion is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise 8ppears to be materially misstated. If we identify such material in¢onsistencies or apparent material misstatements. we are required to determine whether this give5 rise to a material misstatement in the rinancial statements themselves. If, based on the work we have performed, we conclude that there is a material misstaiemeni ofthis other information, we are required to r¢port that fact. We have nothin¥ to report in this regard. Opinion5 on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit-. the infomiation given in the Report of the TTUStees for the financial year for which the financial statement5 8re prepared is consistent with the financial staiements; and the Report of the Trustees has been prepared in accordance with applicable legal reqllirements. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF C.P.S. (PRESTON) LIMITED Matters on Mhieh we are required to report by exception In the lighi of the knowledge and undersianding of the charitable company and it5 environment obtained in the ¢ourse of the audit, we have not identified material missiatemenis in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not b¢en kept or returns adequate for our audit have not been received from branches not visited by us,. or the financial siatements Bre not in agreement with the accounting records and returns- or certain disc105ures of trustees. remuneration specified by law are not made., or we have not received all the inforniation and explanations we require for our audit: or the trustees ivere not entitled to take advantage of the small companies exempiion from the requireTnent 10 prepare a Strat¢gi¢ Report or in preparing the Report of the Trustees. Respon5ibilitie5 of trustees As explained more fully in the Statemeni of Trustees. Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determin¢ is necessary to enable the preparation of financial statements that are free from material misstateTtJent, whether due 10 fraud or erroT. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going conceTll, disclosing, as applicable. matters related to going concern and usin¥ the going concern basis of accouniing unless the trllstees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF C.P.S. (PRESTON) LIMITED Our responsibililh¢5 for the audit of the finaneial statements Our objectives are to obtain Teasonable assurance aboui whether the financial statements as a whole are free from material mis5tatemeni, whether due to fraud or error, and to issue a Repon of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always dete¢t a material tnisstatement when it exists. Misstatements can arise from fraud or error and are considered maierial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial Stat¢ents. The extent tg which our procedures are capable of detecting irregularities. including fraud is d¢tailed below.. Based on our understanding of the charity and the nature of the sector in which it operydtes, we have identified that th¢ principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006 and tax legislation. We have evaluated managemeni'g incentives and opportunities for fraudulent manipulation of the financial siatemenis (including the risk of override of controls) and deterniined that the principal risk was related to inappropriat¢ assessment of going concem and inappropriate journal entries. Our audit procedures designed to addres5 these risks included. but were not limited to.. Enquires with management, regarding any known or suspected instances of non-compliance with laws and regulations, and fraud., Agreement of the financial statement disclosures to the underlying supporting documentation; Perforniing aftaIle&1 procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud., Challenging assumptions and judgements made by management in parti¢ular within their significant accounting estimates and tsoing concern assessments. Auditing the risk of management override of controls, through the testing of journal entries and other adjustments for appropriateness., and Review2ng minutes of meetings of those charged with governance. Our audit procedure5 were desiwed to respond to risks of material missiat¢ment in the financial statements, recognising that the risk of not detecting a material misstateTnent due to fraud is higher than the risk of not deteciing one resulting from etTor, as fraud Tnay involve concealment by misrepresentations or through collusion. There are inherent limitations in the alldii procedures perfortn¢d, and the rther removed the non-compliance with laws and regulations is from the events and transactions reflected in the financial stat¢ments, the less likely we are to becoTn¢ aware of it. A further description of our responsibilities for the audit of the financial statements is located on ihe Financial Reporting Council's website at www.frc.org.uklaudiiorsresponsibilitie5. This description foms part of our Report of ihe Independent Auditor5. Page 10
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF C.P.S. (PRF.STON) LIMITED Use of our report This report TS made solely to the charitable company'5 members, as a body. in accordance with Chapter 3 of Part 16 of Ihe Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's Inembers those matters we are required to state to them in an audiiors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable eompany's members as a body, for our audit work, for this report, or for the opinions we have formed. Mark Sunter FCA (Senior Statutory Auditor) for and on behalf of Ainsworths Limited Ch3rtered Accountants and Statutory Auditors Charter House Stansfield Str¢et Nelson Lancashire BB9 9XY 14th May 2026 Pagell
C.P.S. {PRESTON) LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31ST AUGUST 2025 31.8.25 Total lunds 31.8.24 Total funds Unrestricted fund Designated Funds Restricted fijnd Notes INCOME AND ENDOWMENTS FROM Donations and legacies 30 Charitable activities Educational ,010,971 191,499 1,202.470 1,130,775 Other trading activities 46,427 46.427 13.835 Total 1,057a98 191,499 1,248.897 1,144,640 EXPENDITURE ON Charitable activities Educational 1,045,463 S6,39S 191,499 1,293J57 1,287.940 NET INCOME/(EXPENDITURE) 11,935 (56,395) (44,460) (143,300) RECONCILIATION OF FUNDS Total funds brought forward (444,471) 1,193.072 748,601 891.901 TOTAL FUNDS CARRIED FORWARD (432,536) 1.136,677 704,141 748,601 The notes fonn part of these financial statements Page 12
C.P.S. (PRESTON) LIMITED BALANCE SHEET 31ST AUGUST 2025 31.8.25 Total fund5 31.8.24 Total funds Unrestricted fund Designat¢d Funds Restritied fund Notes FIXED ASSETS Tangible assets 12 1.136,677 ,136,677 1.193.072 CURRENT ASSETS Debtor5 Cash ai bank and in hand 13 88,129 391 88,129 391 78,139 391 88,520 88,520 78,530 CREDITORS Amounts falling due within one year 14 (494,289) 1494,289) 1490,954) NET CURRENT ASSETSI(LIABILITIES) (405,769) (405,769) (412,424) TOT AL ASSETS LESS CURREIYT LIABILITIES (405,769) .136.677 730.908 780,648 CREDITORS ATnounts falling due after more Ihan one year 15 (26,767) {26,767) {32,047} NET ASSETS (432,536) 1,136,677 704,141 748.601 FUNDS Unrestricted funds.. General fvnd Property asset fund 19 (432.536) ,136,677 {¢144.471) 1,193.072 704,141 748,601 TOTAL FUNDS 704,141 748,601 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trusiees and authorised for issue on 14th May 2026 and were signed on its behalf by-. Y Low- Trustee The noies forni part of these financial statements Page 13
C.P.S. (PRESTON) LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2025 31.8.2S 31.8.24 Notes Cash flows from operating activitie5 Cash generated from operations Interest paid (8,311) {4,835) 48.796 (780} Net cash {used in}Iprovided by operating activities (13.146) 48.016 Cash flows from investing aetivities Pur¢has¢ of tangible fixed assets (5,768) Net cash provided byl(used in) investing activities {5,768} Change in ea5h and cash equivalents in the reporting period Cash and ea$h equivalents at the beginDing of the reporting period (13.1461 42,248 (124.531) 1166,779} Cash and cash equivalents At the end of the reporting period (137.677) (124,531) The notes forni part of these financial statements Page 14
C.P.S. (PRESTON) LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2025 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.8.25 31.8.24 Net expenditure for th¢ reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation ¢harge5 Interest paid {Increase}Idecrease in debtor5 {Decreasellincrease in creditors (44,460) {143,300} 56,395 4.835 (9,9901 (15,0911 57,793 780 5,172 128,351 Net cash (used inllprovided by operations (8,311} 48,796 ANALYSIS OF CASH AND CASH EQUIVALENTS 31.8.25 31.8.24 Cash in hand Notice deposits (less than 3 TllQllth5) Overdrafts included in bank loans and overdrafts falling due within one year 107 284 {138,068) 107 284 (124,9221 Total Cash and cash equivalents (137.677) {124.5311 ANALYSIS OF CHANGES IN NET DEBT At 1.9.24 Cash flow At 31.8.25 Net Cash Cash at bank and in hand Bank overdraft 391 (124.922) 391 (138,068) (13,146) (124,531) (13,1461 (137,677) Debt Debts falling due within l year Debts fallin(T due after l year (1,7851 {32,047) (4,175) 5,280 (5,960) (26,767) 133,832) 1,105 {32.727) Total (158,363) (12,041} (170,404) The notes fortn part of these financial statements Page 15
C.P.S. (PRESTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial staiements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practi¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 20191.. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companie5 Act 2006. The financial staiements have been prepared under the historical cost ¢onvention, as modified by the revaluation of certain assets. Going concer As described in the Tiustees Report, the school has had a difficult financial year, resulting in a net deficit of £44,460 {2024.. £143,300). It should be noted that there was a net surplus prior to the depreciation Charge. Steps have been and continue to be iaken to address this issue. The school has net current liabilities of £405.769. however it has fixed assets which are valued in excess of £1 m. The school is reliant on an overdraft facility, which at the year end ioialled £138,068. The trustees have prepared annual forecasts covering the period to 3 1st August 2027. At the time of approving the financial statements, the forecasts 10 3 1st August 2027 demonstrate that the trustees have a reasonable expectation that the school has adequate resources to continue in operational existence for the foreseeable fuiure within the existing overdraft faciliry. The bank has agreed for the overdraft to continue until July 2026 at which time they will be seeking & repayment sirategy. The trustees are exploring external investment and finance opportunities to replace this overdraft. At the time of approving ihe financial Statements nothing had been agreed or approved. The trustees continue to adopt the goinu concern basis of accounting in preparing the fTrnancial statements. This is on the basis the school has a significant value of assets and it is believed (hat the overdraft fa¢ility will be refinanced or repaid from external investment. Critical accounting judgemettts and key sources of ¢5timathon uncertainty Preparaiion of ihe financial statements requires managemeni to make significant judgements and estimates. The main area of estimation is in respect of the use1 lives of fixed assets. The depreciation rates used can be identified in th¢ fixed asset accounting policy below. Income All income is recognised in the Statement of Financial Activiiies once the charity has entitl¢ent to the funds, it is probable thai the income will be received and the amount can be measured reliably. Income from charitable activitie5 comprises school fees, nei of community awards. and related reeeipts accounted for in the peritsd in which the service is provided. Fees for education to be provided in the next academic year are carried forward as deferred income in the balance sheet. Donations are recogni5ed on receipt. Income lax recoverable in relation to dgnation5 received under Gift Aid or deeds of covenani are recognised at the time of donation. Investment income is re¢ognised on a receivable basis. Expettditure Liabilities are iecognised ag expenditure as SQOll as there is a legal or construciive obligation committinu the charity to that expenditUTe, it l5 probable Ihat a transfer of economic benefits will be required in seitlemeni and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basi5 and has been classified under headings thai aggregate all cost related to the c&tegory. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Page 16 ontinued...
C.P.S. (PRESTONI LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2025 ACCOUNTING POLICIES- eontinued Governance costs Govemance costs comprise the cost5 of rnnning the charitable company, including strategic planning for its ture development, external audit, and all the costs of complying with constitutional and statutory requirements. such as costs of Governors meetings and of preparing the statutory accounts and 5atistying public accountability. Allocation and apportionment of eosts Support costs and governance costs have been allocated to charitable activities as th¢r¢ is only one main activity undertaken by the charity. Tangible fixed assets Depreciation i5 provided at the following annual rates in order to write off each asset over lis estimated useful life. Freehold property Plant and machinery Motor vehicles IO°/o on cost and 20/0 on cost 33Q/o on cost, 20/0 on cost and 15% on cost 250/0 on cost Tangible assets are in¢luded in the balance sheet at cost or at market value at the date of gift lif a15eis are gifted}, ¢xcepl for freehold property which is included at tnarket value as at 27th February 1990 together with any additions at cost since (he valuation dale. Asseis with a value of less thet] £500 are not capiialised. Freehold land is not depreciated. Taxation Th¢ charitable company is exempt from corporation tax on it5 charitable attivities. Fund aeeounting Unrestricted fund5 can be used in accordance with the charitable objective5 at the discreiion of the trustees. Restricted funds can only be used for particular restrscted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds we raised for particular restricted purposes. Further explanation of the nature and purpose of ¢ach fund is included in the notes to the financial statements. Penslon eosts and other p05t-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension 5chem¢ are charged to the Statement of Financial Activities in the period to which they relate. Flnaneial instruments The chaTltable company only has financial assets (debtors, cash atjd bank balance5) and financial liabilities (crediiors and gccruals) of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Page 17 continued...
C.P.S. (PRESTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 202S DONATIONS AND LEGACIES 31.8.25 31.8.24 Donations 30 OTHER TRADING ACTIVITIES 31.8.25 31.8.24 Uniforni sales Hire of facilities Other income 1,510 27,053 17,864 3,572 8,588 1,675 46,427 13.835 INCOME FROM CHARITABLE ACTIVITIES 31.8.25 31.8.24 A¢tivity Educaiional Educational Gross f¢es Le55.' Community awards 1252,808 150,338) 1.167,079 (36,304) 1,202,470 .130,775 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 61 Support osts {see note 7) Totals Educational 1,094.692 198,665 ,293,3$7 DIRECT COSTS OF CHARITABLE ACTIVITIES 31.8.25 31.8.24 Staff costs Rates and water Insurance Light and heal Telephone Postage and stationery Advertising Sundries Educational gupplies Repairs and renewals Technology costs Motor expenses Caterints costs Bad debts Depreciation 704,407 23,990 3S,536 47,655 3,263 5,72S 11,316 4,508 83,617 42,069 16,943 13,959 34.027 11,282 705,384 15,976 36,499 47.803 9,418 6,644 14,403 8,620 73.670 75.619 18,556 19,315 36.648 1935) 11 56,395 57,793 1,094,692 1,125,413 Page 18 continued...
C.P.S. (PRESTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR EIYDED 31ST AUGUST 2025 SUPPORT COSTS GoveTn2nce costs Management Finance Totals Educational 159,611 19,633 19,421 198,665 Support costs, included in the above, are as follows.. Management 31.8.25 31.8.24 Total Educational Wages Social security Pensions 142,004 11,387 6,220 114.253 7,645 5,999 159,611 127,897 Finanee 31.8.25 31.8.24 Total Educational Bank charge5 Bank loan interest Other inierest 14.798 752 4,083 17.166 780 19,633 17,946 Governance costs 31.8.25 31.8.24 Total activities Educational Auditors, remuneration Professional and legal fees 10,Iso 9,271 10,500 6,184 19,421 16,684 Page 19 continued...
C.P.S. {PRESTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2025 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargin¥(crediting)'. 31.8.25 31.8.24 Auditors, remuneration Depreciation - owned ass¢ts 10.150 56,395 10,500 57,793 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefit5 for the year ended 3 1st August 2025 nor for the year ended 31 st August 2024. Tru5tee5' expenses There were no trustees, expenses paid for the year ended 31st August 2025 nor for the year ended 3 1st August 2024. io. STAFF COSTS 31.8.25 31.8.24 Wages and salaries Social security c05t5 Other pension costs 769,805 62,019 32,194 739,604 59,753 33,924 864,018 833,281 The average monthly number of erllployees during the year was as follows.. 31.8.25 30 31.8.24 29 Teachers and assisranis Administration Domesti 36 35 No employees received emoluments in excess of £60,000. Page 20 continued...
C.P.S. (PRESTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 202$ COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrictcd De5iwated fund Funds Restricted fund Total funds INCOME AND ENDOWMEIYTS FROM Donations and leuacie5 30 30 Charitable activities Educaiional 944,368 186.407 1.130.775 Other trading activities 13,835 13,835 Total 958.233 186,407 1,144,640 EXPENDITURE ON Charitable activities Educational 1,043,740 57,793 86,407 1.287.940 NET INCOMEIIEXPENDITURE) Transfers b¢tw¢en funds (85,507) (5,768) {57,793) 5.768 {143.3001 Net movement in fund5 (91,275} 152.0251 1143,3001 RECONCILIATION OF FUNDS Total funds brought forward (353,196) 1,245,097 891.901 TOTAL FUNDS CARRIED FORWARD (444,471) 1,193,072 748,601 12. TANGIBLE FIXED ASSETS Freehold property Plant and machinery Motor vehicle5 Totals COST At 1st Septetnber 2024 and 31 st Autsusi 2025 2,528,793 293,892 346 2,823,031 DEPRECIATION Ai 1st September 2024 Charge for year I J51,103 49,951 278,510 6,444 346 .629,959 56J95 At 3 1st August 2025 1,401,054 284,954 346 ,686J54 IYET BOOK VALUE At 3 1st August 2025 1.127.739 8.938 ,136,677 At 3 1st August 2024 1,177,690 15.382 1,19i,072 Included in c05t or valuatiot) of land and buildintss is freehold land of £400,000 (2024 £400,000) which is not depreciaied. Page21 continued...
C.P.S. (PRESTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2025 12. TANGIBLE FIXED ASSETS- continued The bank holds a legal charge over the freehold land and building5, as security for the overdraft. The freehold property was revalued ai market value on 27th Febtuary 1990 by Hurst Dean Ainsworth Kevill, Chartered Surveyors. The charity elected to use the valuation as deemed c05t on transition to FRS102. Additions since the date of valuation have been included at cosi. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.25 31.8.24 Trade debiors Other debtors VAT Prepayments and accrued income 29.548 119 4,673 53.789 36,957 41.063 88,129 78.139 14. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.25 31.8.24 Bank loans and overdrafts {see noie 16) Trade crediiors Social security and other taxes Other creditors Accruals and deferred sncome 144,028 66.149 99,518 1,098 183,496 126,707 48,618 74,899 2.110 238,620 494,289 490,954 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THATr4 ONE YEAR 31.8.25 31.8.24 Bank loans {see note 16) Oiher loan5 (see note 16) 24,062 2,705 29,342 2.705 26,767 32,047 16. LOANS An analysis of the maturity of loans 15 giv¢n below.. 31.8.25 31.8.24 Amounis falling due within one year on demand.. Bank overdraft5 Bank loans 138,068 5,960 124,922 1,785 144.028 126,707 Amounts falling between one and two years.. Bank loans - 1-2 years 12,376 10.037 Page 22 coDtinued...
C.P.S. IPRESTONI LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR EIYDED 31ST AUGUST 2025 16. LOANS- continued 31.8.25 31.8.24 Amounts falling due between two and five years.. Bank loans- 2-5 years 11,686 19,305 Amounts falling due in more than five years.. Repayable otherwise than by instalments.. Other loans more 5yrs non-inst 2.705 2,705 Th¢ RBS bank loan is guaranteed by the UK Government under the Bounce Bank Loan Scheme. 17. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 31.8.25 31.8.24 Within one year Between one and fiye years 15.663 13,598 17,337 24,048 29,261 41.i85 18. SECURED DEBTS The following secured debis are included within creditors.. 31.8.25 31.8.24 Bank ov¢rdrafts 138,068 124,922 The bank holds a freehold 1st legal charge over the land and buildings known as 200 Garstang Road to secure the overdraft. 19. MOVEMENT IN FUNDS Net movement in funds At 31.8.25 At 1.9.24 Unre5trieted funds General fund Property asset fund (444,4711 1,193,072 11,935 {S6,39SI (432,536) 1,136,677 748,601 (44,460) 704,141 TOTAL FUNDS 748.601 {44,460) 704,141 Pa(Te 23 continued...
C.P.S. (PRESTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR EiYDED 31ST AUGUST 2025 19. MOVEMENT IN FUNDS- continued Net movetnent in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund Property asset fund 1,057,398 (1,045,463) (56,395) 11,935 (S6,395) ,057J98 (1,101,858) (44,460) Restricted funds Education. Health and Care Plan 191.499 (191.499) TOTAL FUNDS ,248,897 (1,293 J57) 144,460) Comparative5 for movement in funds Net rnovement in funds Transfers between funds At 31.8.24 At 1.9.23 Unrestricted funds General fund Property asset fund {353,196) 1.245.097 (85.507) (57,793) 15.768) 5.768 {444,4711 1.193,072 891,901 (143.3001 748,601 TOTAL FUNDS 891,901 {143,3001 748.601 Comparative nei movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unre5trieted funds General fund Property asset fund 958.233 {1,043,740) (57.793) {85,5071 {57,7931 958.233 11.101,533) (143,300) Restricted funds Educaiion. Health and Care Plan 186.407 1186,407) TOTAL FUNDS 1,144,640 (1,287,940) (14i.300) Page 24 continued...
C.P.S. (PRESTON) LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2025 19. MOVEMENT IN FUNDS- Continued A current year 12 months gnd prior y¢ar 12 months combin¢d position i5 as follows.. Net mov¢rn¢nt in funds Transfers between funds At 31.8.25 At 1.9.23 Unrestricted furtds General fund Propety asset fund (353.1961 1,245,097 173,5721 {114,188} (5,768) 5,768 (432,536} 1.136,677 891.901 {187,760) 704,141 TOTAL FUNDS 891.901 {187.760) 704,141 A current year 12 months and PTior year 12 months combined net movement in funds. included in the abov¢ are a5 follows: Incomsng resources Resources expended Movement in funds Unrtstrieted funds General fund Property asset fund 2.015.631 {2,089,203) (73.572) 1114,188) 2.015,631 (2,203,391) 1187,7601 Restricted funds Edu¢ation, Health and Care Plan 377,906 (377,906) TOTAL FUNDS 2,393,537 (2,581,297) {187,760) 20. RELATED PARTY DISCLOSURES There were no r¢lated party trdnsactions for the year ended 31 st August 2025. Page 25