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2025-08-31-accounts

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2025

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

CONTENTS

Page
Corporation details 3
Report of the governors 5
Report of the independent auditor to the Council 27
Consolidated statement of financial activities 30
Corporation statement of financial activities 31
Consolidated balance sheet 32
Corporation balance sheet 33
Consolidated cashflow statement 34
Notes to the financial statements 35

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

GOVERNORS OFFICERS AND ADVISERS

Life Governors

Mrs H N Trapnell ▲ Mrs C M Preston BSc ARICS A N Stephenson MA M J Reece MA (d. November 2024) C Holt BSc MBA ACMA

Members of Council

(Ex-officio Governors) K J Budge – Chairman +× ▲♦ S J Fisher MA – Vice Chair + × ▲ Mr J Arundel DipPFS, DipCII + ▲◙ The Revd G Ashton BA Mrs G Austin-King BA FCA MBA LLB CISI MCIBS▲◙ Lt Col R Carr (appointed 16[th] September 25) O Colling (appointed 11[th] November 25) ▲ Mrs L Croston BSc PGCE ALCM × Mrs B Doshi MLL, BA, CIPD▲◙ Dr D M Elliott BSc, MBChB × Dr H O Fajemirokun BA PhD × D Gill FCA DChA▲ The Revd Canon J Hall MA (retired 17[th] June 2025) J Holt MBA, LLB, BSc, FRAeS ▲ A J E Horabin (appointed 15[th] August 25) + ▲ A Potts BSc, PGCE × (retired 24[th] February 2025) C M Rooney FRSA (appointed 1st September 25) + × M Turner (appointed 5th November 25) × R A Wilson MA▲

+ Nominations Committee (Chair – J Arundel) × Education & Welfare Committee (Chair – M Turner) ▲Finance & General Purposes Committee (Chair – R A Wilson) ♦Senior Remuneration Committee (Chair – K Budge) ◙ Investment Committee (Chair – J Arundel)

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THE CORPORATION OF ROSSALL SCHOOL

GOVERNORS OFFICERS AND ADVISERS (CONTINUED)

OFFICERS

Mrs M Walmsley Clerk to the Governors Secretary of the Corporation of Rossall School

OFFICERS (key management personnel during the year)

Mr A McBride MA BSc ▲+× Headmaster (Appointed 1[st] September 25) Mr J A Quartermain MA PGCE ▲+× Headmaster (Resigned 31[st] August 25) Mrs C Coley-Maud BSc ACA ▲ × * Chief Financial Officer Mr A Cawkwell BA ▲ Director of External Relations Mr D Clarke BA MA PGCE Deputy Head (Academic) Mr Nick Crombie BA PGCE Deputy Head (Sixth Form and Senior School) Mrs V Low ▲ Director of Operations Ms D Porovic Senior Deputy Head (Resigned 31[st] December 25) Mrs C Stacker BSc PGCE Senior Deputy Head Mr M Turner BA PGCE Head of Junior, Infants and Nursery Mrs E Williams BA PGCE Deputy Head (Boarding and Co-Curricular) Registered office Rossall School Fleetwood FY7 8JW Auditor MHA Chartered Accountants Richard House Winckley Square Preston PR1 3HP Solicitors DWF LLP 1 Scott Place 2 Hardman Street Manchester M3 3AA Veale Wasbrough Vizards LLP Narrow Quay House, Narrow Quay Bristol BS1 4QA Investment advisers Cazenove Capital Investment Ltd 12 Moorgate London EC2R 6DA Charity number 526685

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Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

REPORT OF THE GOVERNORS

FOR THE YEAR ENDED 31 AUGUST 2025

The Governors of Rossall School present their annual report and audited accounts for the year ended 31 August 2025. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the School’s Charter, the Charities Act 2011, and 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 published in October 2019.

OVERVIEW

The academic year 2024-25 was another successful year for Rossall School. Pupil roll continued to be at the highest level in the School’s history and the Summer 2025 examination results were strong, with the percentage of grades at A*/A reaching a School high - there were multiple individual success stories in terms of outcomes and value-added culminating in 82% of students, studying in the UK, going on to study at Russell Group/Top 20 universities such as Cambridge, Oxford, Durham, LSE, UCL, KCL and Warwick. There was a rise in successful applications abroad including a number of full scholarships to universities in the United States. Additionally, two students entered degree apprenticeships and three to music conservatoires.

The 2024 to 2025 academic year was a highly successful and progressive year for sport at Rossall School. Across football, hockey, netball, cricket and a wide range of additional disciplines, pupils demonstrated commitment, competitive excellence and strong collective identity. The programme continued to balance performance ambition with inclusive participation, ensuring opportunity at all levels.

Football was a particular strength, with multiple age groups progressing deep into regional and national competitions. Both boys and girls’ teams competed with consistency and confidence against strong opposition, reflecting the depth and quality of coaching across the School.

Hockey remained central to Rossall’s sporting identity. Teams across all age groups performed strongly in a demanding fixture calendar, with notable cup progression and sustained competitive standards.

Netball and cricket programmes showed clear development, with strong fixture engagement, improving standards of play and competitive resilience. Participation levels across these sports remained high, with pupils representing the School with pride and professionalism.

Swimming and other individual and team sports further broadened the School’s competitive profile, ensuring that sport at Rossall remains diverse, aspirational and accessible.

Overall, 2024 to 2025 was defined by competitive success, depth of talent, growth in girls’ sport, and a strong culture of commitment and sportsmanship. The year reflected a sporting programme that is ambitious, well led and integral to the life and identity of the School.

The Piano Academy continues to offer an exceptional pathway for gifted pianists, combining elite musical training with outstanding academic education. 2024-25 saw an increased number of Piano Academy members, who performed several concerts with recitals including Steinway Hall in London.

Dance, Drama, and Musical Theatre at Rossall continued to flourish during 2024-25, with a clear shift from growth to consolidation and impact. Key developments have strengthened both curriculum and co-curricular provision, embedding high-quality performing arts opportunities across the School.

Despite the imposition of VAT on independent school fees from January 2025, pupil numbers and demand for places at Rossall remained high. This, as well as the success of the School’s Academies; and Summer School, provided increased fee income in 2024-25 compared to 2023-24. The School was also very grateful to receive significant donations and legacies in the year.

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THE CORPORATION OF ROSSALL SCHOOL

REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

OUR AIMS

The School was founded in 1844 and was incorporated by Royal Charter in 1890. The objects and powers of the Corporation were amended by supplemental charters in 1958, 1971 and 2012. The Corporation is a registered charity, number 526685.

The objects of Rossall School, as set out in the Royal Charter, are “to provide, at a moderate cost, for the sons and daughters of clergymen and others, without limit of age, a classical, mathematical and general education of the highest class.”

The School’s mission statement is the guiding principle from which the School’s strategic aims are developed and is set out as follows:

SHAPING LIVES, INSPIRING EXCELLENCE

It is our mission to inspire young people to develop a life-long love of learning within a pastorally nurturing, culturally exciting and intellectually creative community.

The main aims of the School’s strategic plan are:

INSPIRING INTELLECTUAL EXCITEMENT AND ACADEMIC EXCELLENCE

Rossall School inspires a lifelong love of learning through the outstanding quality of teaching and learning that it provides for young people. Children are encouraged to develop their intellectual interests beyond the confines of the formal curriculum, and they are challenged to engage critically with the multitude of opportunities that the School provides to develop skills, knowledge and understanding. Children are encouraged to become selfmotivated independent learners with an intrinsic desire to explore both the physical and metaphysical aspects of their existence. We are an open-minded community receptive to new ideas. Children are encouraged to share their ideas and learn through collaboration and debate.

DEVELOPING COMPASSIONATE AND CARING YOUNG PEOPLE

Rossall School’s unique educational offering provides a perfect context within which young people may acquire the emotional knowledge and interpersonal skills necessary to live happy and purposeful lives. The School’s inclusive and progressive ethos is complemented by the outstanding quality of our School community which serves to nurture resilience and develop maturity. Young people leave Rossall with the confidence and strength of character necessary to pursue their personal dreams and fulfil their professional aspirations. Above all, the School endeavours to develop young people who are caring and compassionate and we provide an extraordinary diversity of opportunities for young people to develop these attributes.

ENGENDERING CULTURAL AWARENESS AND ARTISTIC CREATIVITY

Rossall School is committed to providing children with the opportunity to explore and develop their creative sensibilities through the outstanding quality of its performing arts and visual arts provision. Children are encouraged to develop their creative skills and their aesthetic sensibilities so that they may appreciate, comprehend and contribute to the world of infinite beauty that lies beyond the certainties of everyday life.

ENSURING PUBLIC BENEFIT

Rossall School is an internationally minded community yet resolutely committed to the concept of localism. We recognise our extraordinary potential to serve the local communities of the Fylde Coast, and we are committed to sharing our resources and skills with the people of Fleetwood and Blackpool. The School is committed to ensuring that the lives of local people and communities are enriched by our presence. We are part of the rich fabric of this area of the Northwest, and we actively embrace our social responsibility to serve others. For the second year, the School has published an impact report detailing the effect of Rossall School on the local community and surrounding area.

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

PROMOTING SPORTING EXCELLENCE

Rossall is justifiably proud of its illustrious sporting history and recognises the many health and social benefits to be derived from regular exercise and participation in team sports. Striving for excellence within a sporting context helps young people develop transferable character attributes such as resilience, self-discipline and leadership skills. Alongside a lifelong love of learning, we provide an education which, for many young people, will result in an enduring love of sports.

AN EDUCATION FOR THE FUTURE

Rossall is committed to ensuring that it prepares young people for an uncertain future by developing transferable skills within a technologically enriched and well-resourced environment. A Rossall education is outward facing and encourages children to become politically literate and engage with themes of contemporary relevance such as environmentalism and humanitarianism.

OUR OBJECTIVES

Our objectives reflect the aims and ethos of the School. In setting objectives and planning activities, the Council has given careful consideration to the Charity Commission’s general guidance on public benefit and to its supplementary public benefit guidance on advancing education and on fee-charging.

Our key objectives for the 2024-25 year included:

OUR ETHOS, STRATEGY AND POLICIES

The Council determines the School’s strategy for achieving its objectives. The focus of our strategy is on the development of our pupils, their levels of academic and extra-curricular achievement and to further widen access to the education our School provides. In taking forward our strategy we:

Rossall School is a charity that seeks to benefit the public through the pursuit of its stated aims. Our fees are set at a level which reflects the markets in which we operate, whilst ensuring the financial viability of the School and considering our aim of providing a first-class education to pupils.

Our School welcomes pupils from all backgrounds. To admit prospective pupils, we need to be satisfied that our School will be able to educate and develop them to the best of their potential and in line with the general standards achieved by their peers. Entrance interviews and assessments are undertaken to satisfy ourselves and parents that potential pupils can cope with the pace of learning and benefit from the education we provide. An individual’s economic status, gender, ethnicity, race, religion or disability do not form part of our assessment processes.

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THE CORPORATION OF ROSSALL SCHOOL REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of colour, race, ethnicity, religion, sex, sexual orientation or disability. The diverse international pupil body is a great strength of the School. We will make reasonable adjustments to meet the needs of staff or pupils who are or become disabled.

In our most recent ISI inspection in October 2024, the inspectors commented that “The School is successful in providing an education which provides pupils for a life beyond School”, supporting Rossall’s aim to provide an education for the future.

As a School we place huge value on a strong and positive partnership with parents. As well as regular communication through letters, the medium of our School newsletter, we also utilise social media, video content and live Q&A sessions. Individualised communication with parents is also important and this is done on both a formal and informal basis. Parents are given regular information about their children’s progress within an academic and social context through pastoral and academic meetings in addition to regular grade cards and reports at key times during the course of the academic year, timed to have the greatest possible impact in terms of improvement and progress.

The pastoral structure of the School ensures that there are many avenues for pupils to seek and be provided with support. Each pupil belongs to a form group, and these are organised according to year group structure. The Form Tutor is the main point of contact for each pupil, supported by the Head of Year, and both have responsibility for that pupil’s welfare and academic development. Each pupil is also allocated to a boarding house and Houseparent’s provide further pastoral support. There is no culture of bullying at Rossall School, and a strong emphasis is placed on pupils forming positive relationships based on mutual respect, rooted within a culturally diverse community where each individual feels that they can belong.

PUBLIC BENEFIT AND COMMUNITY LINKS

The School continues to put a great deal of effort into building teaching links with local schools and other feeder schools. Local schools are invited to a wide variety of educational and sporting events. Schools receive visits from staff and pupils from Rossall whilst Head Teachers from local schools have in turn visited Rossall. The School is proud of its heritage and the part it plays in the history of Fleetwood. Links with the town and supporting our local community remain a priority for the School not only in terms of widening access through our bursary policy but also through formal and informal partnerships.

Fleetwood Community Trust

As Fleetwood Trust continues to redevelop the old Fleetwood Hospital into a community support hub, Rossall continues to evolve its offering of support and partnership.

Now the base for ‘The Pantry’ a combination of the Fleetwood Foodbank and Mustard Seed, Rossall regularly donates both money and food donations to the foodbank.

Rossall is privileged to be involved in this community project to serve the people of Fleetwood. This is an exciting partnership that will develop and grow as the facility in Fleetwood develops and it will be an ongoing part of School life. The project will involve all areas of the School including the pupil body and we are delighted to be working in partnership with Fleetwood Community Trust and neighbouring schools.

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THE CORPORATION OF ROSSALL SCHOOL

REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Marine Conservation Society

Each year, the School joins dozens of local volunteers on the beach clean. Some of our best-loved marine wildlife is under threat from the waste and litter in our seas, with hundreds of species accidentally eating or becoming entangled in litter. It is also dangerous for people and damaging to our tourism and fishing industries. As we are a School with a beach boundary and the beach is used by the School for both sporting and academic activities, it is important that the School has its own social responsibility for helping to maintain a clean environment. The initiative involves both members of the teaching staff and the students. Our kitchens provide refreshments on the beach at Cleveleys for all the volunteers that clean the beach, not just the ones from School. The beach cleaning initiative is a yearly, ongoing event, although the School is in the process of organising smaller, more regular beach cleans.

Da Vinci Academy

Rossall School’s Da Vinci Academy was founded in September 2019 and continues to provide enrichment activities in drama, science (including Astronomy) and maths for local primary school children. This Saturday morning school has proved enormously popular and over 60 local children have attended lessons since its inception.

Sharing Facilities with the Local Community

Throughout the year, we offer the use of our facilities to local schools and sports groups, and this is often at discounted rates or free of charge. This includes use of our Sports Centre, Astroturf, MUGA and pitches. We also host activity afternoons for local primary schools ranging from taster sessions in various sports, use of the Rossall Kitchens and academic enrichment such as Coding Days.

Lawrence House Astronomy & Space Science Centre

Rossall is incredibly fortunate to have its own Astronomy and Space Centre, complete with planetarium, and Resident Astronomer, Dr Nick Lister. We are pleased to offer the facility to local primary schools and voluntary groups with visits facilitated by Dr Lister and to provide GCSE tuition in Astronomy to local senior schools. A popular series of astronomy lectures were also offered to the public.

Rossall Chapel Choir

Throughout the year, the Choir hosts Evensong services from within our own Chapel. Within the 2024-25 academic year, the Choir has also visited several other churches and cathedrals throughout the Northwest.

Rossall Rose Society

The Rossall Rose Society is a vibrant, parent-led group that works in close partnership with the School to create memorable events and enriching experiences for pupils, parents and Old Rossallians alike. At its heart, the Society brings families together, supports charitable causes and raises valuable funds for whole-School projects that make a meaningful difference to our children’s lives, and, just as importantly, it provides plenty of opportunities for fun, friendship and shared enjoyment along the way.

The Society has enjoyed a fantastic start to the academic year, with an encouraging and growing number of families enthusiastically supporting events and helping to raise significant funds for both School initiatives and charitable causes.

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FOR THE YEAR ENDED 31 AUGUST 2025

Lawrence Condon has settled seamlessly into his role as Chair from September 2025, supported ably by outgoing Chair Katie Lee and the newly appointed Rossall Rose Council members and Year Group Ambassadors.

Rossall Rose Events during 2024-25 raised a total of £10,887 from Coffee Mornings, the Christmas Market, the Leavers Ball and Family Days. Additionally, Rossall Rose donated £5,620 to Rossall School and £4,375 between Macmillan, Blackpool Homestart and Brian House.

Other Fundraising

Throughout the year, pupils and staff raised over £6,000 for a variety of local and national charities through events such as bake sales, non-uniform days and concerts including Rossall’s Got Talent. A great number of these initiatives are student-led via the Charities Committee and Outreach Team. The School also supports the Rossall Pantry and Men’s Shed through activities such as donations from the kitchens at Christmas and collecting donations for the Food Bank.

Rossall Chaplaincy

The Chapel offers a programme of religious worship including Evensong, Remembrance and Carol services, led by the Chaplaincy team. Mrs Kerstin Dixon has begun her ordination and a weekly trip to Christ Church, Thornton, is offered to the boarders, with a number of pupils attending regularly. The Chapel is also used by local primary schools for religious worship including their Christmas and Easter services.

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THE CORPORATION OF ROSSALL SCHOOL

REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

BURSARY POLICY

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 from learning within a diverse community. A great deal of learning 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.

Our bursary policy together with our community links programme contributes to a widening of access to the education we offer and the facilities we enjoy.

The Governors view our bursary awards as important in helping to ensure children from families who would otherwise not be able to afford the fees can access the education we offer. Our bursary awards are made solely on the basis of parental means or to relieve hardship where a pupil’s education and future prospects would otherwise be at risk, for example in the case of redundancy. In assessing means we take a number of factors into consideration including family income, investments and savings and family circumstances, for example, dependent relatives and the number of siblings. However, our School does not have a large endowment and in funding our awards we have to be mindful that we must ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices to fund their child’s education, and those benefiting from the awards.

In practice, the School provides considerable financial assistance so that local children can attend Rossall.

The bursary awards range from 5% to 100% remission of fees and further details of our bursary policy and how to apply are available from our admissions team and bursary.

OTHER POLICIES ON ASSISTANCE

Family discounts policy

To underline the value, we place on continuity for families, we offer discounts where parents have more than one child at the School.

Scholarship policy

The purpose of our scholarship awards is to recognise high academic potential or the ability to excel in our extracurricular activities. Our scholarships are awarded on the basis of both potential and demonstrable achievement, and all such students are expected to make a full contribution to the life of the School and to ensure ongoing commitment to excellence.

Scholarships are awarded with a remission of fees of between 10% and 100%. Where further assistance is required, scholarship awards may be supplemented by a means tested bursary. We advertise the availability of scholarship awards annually in the local press and via social media. Further details of our scholarships are available on our website.

Assistance for our staff

As part of our emphasis on attracting and retaining high calibre staff, we offer a discount scheme to staff members who choose to educate their children at our School.

Assistance for service families and members of the clergy

The School provides discounts for children whose parents are, or have been, members of the armed forces or members of the clergy. Further details are available from the Bursary.

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THE CORPORATION OF ROSSALL SCHOOL

REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

DETAILS OF BURSARY AND SCHOLARSHIP AWARDS

In total, the School made awards to pupils totalling £3,027,499 (2024: £3,230,282) representing 15.1% of fee income (2024: 16.7%).

Bursaries

This year the value of means tested bursaries totalled £998,620 and represented 5% of our gross fees. This provided assistance to 96 pupils.

Scholarships

The School awarded scholarships to 235 pupils, based on their educational merit and potential, totalling £1,369,603 and representing 6.9% of our gross fees. Of this number, 46 also qualified for means-tested bursary support and are included in the figures relating to bursary awards. The progress of pupils receiving scholarships is reviewed at least annually to ensure their progress is in line with their abilities.

Other Awards

The School made other awards to pupils amounting to £659,277 representing 3.3% of gross fees. These awards are based on eligibility criteria and include staff, Old Rossallian, and sibling discounts.

The School is grateful for the continued support of its associated charities which enable it to offer scholarships and means-tested financial assistance to students. In the year to August 2025, the School received £114,611 from the Trapnell Fund to fully fund the places of 4 scholars. A further £77,637 was received from the Jackson Scholarship Fund to provide means-tested bursaries in relation to 4 pupils.

The scholarship and bursary income received from external charities is not reflected in the School accounts as scholarship income as the funds are billed directly to the Trust Funds. Consequently, the awards to pupils from these charities are not included within the total discounts awarded to pupils.

In total, including the amounts awarded by the Trapnell and Jackson scholarship funds, the School made awards to pupils totalling £3,142,110 (representing 15.7% of fee income).

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

ACADEMIC ACHIEVEMENT

2025 Exam Results and University Destinations

Rossall is an inclusive and diverse community that welcomes children of all abilities. We pride ourselves on educating the whole child and we inspire our children to pursue their dreams - whether they be academic, sporting or lie in the realm of performing arts.

Outstanding teaching and learning is provided by a team of staff dedicated to the success of each and every child and this, alongside an excellent pastoral provision (ISI 2021), provides the foundations for personal success. From the most recent Full Inspection undertaken in October 2024, the ISI reported that ‘the International Baccalaureate (IB) curriculum is well planned, builds on pupils’ prior learning and prepares them for their planned future studies. Along with provision for A-level and BTEC courses, pupils have a wide range of curriculum options so that they are well prepared for their next steps. The curriculum has been enhanced recently with the introduction of dance, and pupils can undertake extended project qualifications to take responsibility for their learning and further develop their research and academic writing skills.’

Each year we celebrate the achievements of our Upper Sixth Form leavers. Despite the unique challenges of the last few years and the unprecedented pressure on university places, year on year almost two thirds of those heading to university in the UK are progressing to Top20/Russell Group universities, including Oxford and Cambridge.

In 2025, as in previous years, a number of students have taken up 100% sporting scholarships at prestigious universities in the United States, whilst a small number are about to embark upon degree apprenticeships with the likes of BAE Systems. We are proud of our students, and we know that all members of the Rossall community share our delight in their success.

This year’s IB, GCSE and A Level/BTEC results were the best on record and reflect the successful implementation of a number of strategies. It is also a testament to the culture and aspirations of those who progress or are recruited into the Sixth Form.

Sixth Form Academic Performance

Students in Rossall Sixth Form study for a variety of different curricular programmes including:

Inevitably, the distribution of students (in terms of performance) varies across different courses from one year to the next.

International Baccalaureate Diploma Programme (IBDP)

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

A Levels (entire cohort)

A- A 43% A- B 70% A- C 87% A- E 99%

Rossall Scholars

We acknowledge the achievements of those who graduate from Rossall with distinction (cum laude). This year over half of the cohort have achieved this accolade (ABB or equivalent) and the results for these students are as follows:

A-level

• A* 26%

IB

These students are invited back to a celebratory dinner in the Spring Term following their departure, and they are invited to join the 1844 Valentini Society.

GCSES 2025 (Year 11)

We place great importance on all public examinations, and we are justifiably proud of the achievements of our Year 11 pupils.

It is worth bearing in mind that, unusually, a significant number of those taking GCSEs at Rossall are either sitting all their examinations in a second language and/or completing the full programme of study in just one year - in preparation for Sixth Form courses at Rossall. When presenting our results, we make no distinction between those studying within the main School and those studying on the Pre-Sixth Form or Foundation programmes.

Consequently, the combined averages for all those who sat GCSE examinations this summer were:

University destinations for September 2025

The majority of Upper Sixth leavers went to UK universities, however there has been a sizeable increase in those attending universities around the world - including America; Japan; the Netherlands; Australia; Spain; Sweden; Germany; Austria; Russia; Italy; Switzerland; and Hong Kong.

Of the students heading to UK universities, 82% will be taking up places at Russell Group/Top 20 universities with destinations including University of Oxford, University of Cambridge, UCL; Durham University, King's College, London; University of Liverpool; University of Manchester; Queen Mary; Loughborough University and University of York.

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Our destinations reflect the global nature of our Sixth Form and should be seen as one of our most marketable traits.

Overall, below is a summary table of the dramatic progress made in university destinations since 2019:

Year Russell Group/Top 20
2019 30%
2020 60%
2021 58%
2022 55%
2023 65%
2024 82%
2025 82%

Rossall Learning Community

As part of our commitment to supporting lifelong learning for the whole community, we continued our series of evening events for our parents, including digital and in person events. There are three fundamental strands of provision– to provide parents with good quality information about what we are doing as a School, to provide parents with the opportunity to learn about aspects of our curriculum and provision through talks on specific subjects of interest such as online safety, study skills, PSHE and wellbeing as well as sexual health and relationships education and finally to provide an opportunity for personal growth and enrichment for parents by giving them access to some of the talks and lectures that our pupils have had the chance to listen to.

MUSIC

The Music Department continued to thrive in the 2024-25 academic year, demonstrating a strong commitment to providing a rich and engaging musical experience for all students. A significant number of students actively participated in one-to-one instrumental lessons, laying a solid foundation for their musical development and fostering a lifelong love of music. This dedication to individual instruction, coupled with a vibrant programme of co-curricular activities, has created a thriving musical community within the School.

The department's commitment to providing performance opportunities for students was evident throughout the year. Weekly Wednesday Lunchtime Concerts in the Senior School became a regular highlight, showcasing students playing different instruments and at different levels. In the Prep School, Assembly Concerts were held every half term, providing a platform for over 40 young musicians to shine. These concerts not only provided valuable performance experience but also fostered a strong sense of community and encouraged students to develop their confidence and stage presence.

The department boasts a diverse range of co-curricular activities, catering to a wide variety of musical interests. Senior School students had the opportunity to participate in the Chapel Choir, Theory Club, School Production, Swing Band, Strings Group, and Brass Ensemble, Guitar Ensemble while Prep School students could join the Prep

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FOR THE YEAR ENDED 31 AUGUST 2025

Chapel Choir, Prep School Production and Prep Brass Ensemble. This wide array of clubs and ensembles provided students with ample opportunities to develop their musical skills within a supportive and collaborative environment. A number of students achieved places at Conservatoires including one student receiving a full scholarship.

The department also prioritised enriching student experiences beyond the classroom. Regular trips to prestigious venues like the Manchester Bridgewater Hall and the Liverpool Philharmonic Hall exposed students to worldclass performances, broadening their musical horizons and inspiring them to strive for excellence. Furthermore, the innovative introduction of the Prep School's instrumental programme, where Year 3 students learn violin, Year 4 explores the trumpet, Year 5 delves into clarinet and flute, and Year 6 focuses on vocal development, ensures that all students have the opportunity to engage with music actively and practically from an early age.

Signature Programme: Piano Academy

The talent of all our Piano Academy students has been supported by a fantastic and growing faculty, led by Victor Lim. The Piano Academy ensures our young pianists have the opportunity not only to study their main repertoire in their 90 minutes of one-to-one lessons per week, but also the vital technical, aural, theoretical and contextual skills that ensure well-rounded and fully developed pianists. The Piano Academy performed several concerts with recitals including Steinway Hall (London).

We are fortunate to be an All-Steinway School which, in addition to attracting pianists of exceptional ability, gives us a broader appeal to non-pianists and an increased uptake in higher grade instrumentalists applying to join the School.

DRAMA AND DANCE AND MUSICAL THEATRE

Building on the significant expansion and success outlined in last year’s report, Dance, Drama, and Musical Theatre at Rossall continued to flourish during 2024-25, with a clear shift from growth to consolidation and impact. Key developments have strengthened both curriculum and co-curricular provision, embedding highquality performing arts opportunities across the School.

Following the introduction of GCSE and A Level Dance, the subjects have become well established, with students demonstrating strong engagement and clear progression in both technical and creative skills. Dance continues to be delivered across all key stages, ensuring consistent access to high-quality creative and physical learning for all students.

The Dance department has expanded further with the appointment of a new Head of Dance Academy, who also contributes to curriculum teaching. This has strengthened both academic and co-curricular provision. In addition, the Dance Academy benefits from guest teachers working with students, while the Academy timetable is structured to allow pupils to develop and explore a wide range of dance styles, supporting versatility, technical growth, and artistic understanding.

Drama provision has continued to develop this year. The reintroduction of A Level Drama has re-established a clear academic pathway for students wishing to pursue drama at an advanced level, with strong uptake and engagement. In Drama, there has been increased cross-curricular collaboration, particularly with English, History, and PSHE, strengthening students’ understanding of context and text while also supporting the development of literacy, oracy, and critical thinking skills. Drama teaching focuses on performance skills, interpretation of text, devising, and critical analysis, supporting students’ communication skills, confidence, and collaborative working. Co-curricular drama opportunities further enhance learning, allowing students to develop performance techniques in both scripted and devised contexts.

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Drama and Dance (continued)

The Saturday Broadway Academy continues to grow in both size and impact. An increasing number of students are now entering Rossall in Year 7 having previously attended the Academy, demonstrating its success as both a talent development pathway and a key recruitment route into the School. The Academy remains a strong mix of internal Rossall pupils and children from the wider community, strengthening outreach and visibility.

Musical theatre remains a key strength across the School. During 2024-25 the Senior School performed Grease whilst the Prep School took on the musical Beauty and the Beast. These fabulous productions showcased high levels of commitment, professionalism, and performance quality. Alongside performance, students are increasingly taking on leadership and production roles, including assistant directing, choreography support, stage management, and backstage coordination. These opportunities develop responsibility, teamwork, and problemsolving skills, while providing valuable insight into professional theatre practice and pathways into the performing arts industry. The Saturday Broadway Academy continues to provide regular performance opportunities, with students performing in Newsies JR and a Christmas revue.

The Rossall Dance Academy has also been successfully launched for the 2025-26 academic year, beginning with 12 students. Prior to Christmas, the Academy held its first Dance Showcase, which was a significant success and highlighted strong technical and performance standards. Planning is already underway for a Summer Dance Showcase, reflecting the continued growth and ambition of the programme.

Students across Drama and Dance have benefited from a wide range of enrichment opportunities, including theatre visits to see Matthew Bourne’s Swan Lake as well as West End and regional productions such as Hamilton, Clueless, and Othello. A London residential trip, including attendance at a dance convention, has further enriched students’ understanding of professional practice, performance standards, and career pathways within the performing arts.

Overall, Dance, Drama, and Musical Theatre continue to go from strength to strength, making a significant contribution to student engagement, confidence, and the wider creative life of the School.

GUEST SPEAKERS

An array of speakers has visited the School over the course of the year. As part of our careers programme, we invited many speakers including parents of Rossall students, Old Rossallians and members of our local community as well as experts from various industries. These speakers gave talks across many industries including, but not limited to journalism, law, business, engineering, sport, medicine, the merchant navy, and International Relations.

In addition, we hosted a university fair, multiple medicine workshops, visits from Lancaster University, Glion, IE University, European University of Economics, a Degree Apprenticeship Fair etc.

We have also brought in educational groups and external speakers to provide curriculum content for our students. This is wide-ranging and frequent but includes areas such as history, PSHE and LGBTQ+.

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

SPORT

Sport at Rossall remains a significant strength. Participation is high across the School and is complemented by strong competitive performances in football, netball, hockey and golf. During the 2024-25 academic year, Rossall teams competed in 423 competitive fixtures, reflecting both the breadth of opportunity and the depth of engagement across the sporting programme. The provision is highly regarded by pupils, parents and prospective families, offering inclusive opportunities alongside structured pathways for those pursuing higher performance. Football teams across multiple age groups have achieved impressive results in regional and national competitions, with both boys’ and girls’ squads demonstrating consistency and progression. Netball continues to develop positively, with teams performing strongly in fixtures and competitions and individuals progressing within recognised development pathways. Hockey teams have recorded notable successes, including good cup runs.

In addition to curriculum and fixture provision, Rossall now delivers Elite Performance Pathway sessions in both cricket and hockey, providing targeted technical and tactical development for identified talented students. These sessions further strengthen progression routes and support students aspiring to higher levels of performance. Leadership and support structures have been enhanced through the appointment of Ben Edmondson as Director of Sport. Ben brings extensive experience in performance sport and athlete development and leads the strategic development of sport across the School, ensuring high standards in both participation and performance. Staffing has been further strengthened with the appointment of a full time Strength and Conditioning Coach, supported by on site physiotherapy provision. Together, these roles ensure students benefit from structured physical development, injury prevention and effective rehabilitation, aligned with long term athlete development principles.

Performance technology now plays an increasingly important role, particularly within the Football Programme. GPS tracking, video analysis, physiological benchmarking, force plates and timing gates are used to monitor performance, inform training and support individual development.

Signature Sporting Programmes

Football

The Football Programme continues to develop rapidly, building on the partnership with Manchester City Football Club. Coaching delivery aligns closely with elite academy principles, supported by performance analysis and individual development planning. Teams have performed strongly in competitive fixtures and cup competitions, and the Elite Football Programme continues to attract high numbers of students.

Golf

The Golf Academy remains a key area of strength. The success of former Rossall student Seb Cave in national level stroke play competition highlights the effectiveness of the Academy’s development pathway. Current students continue to perform well in School and external competitions, with strong depth across the programme. Academy numbers remain high, supported by ongoing investment in facilities and coaching. Across all sports, Rossall promotes an inclusive and ambitious sporting culture, encouraging participation, commitment and enjoyment while supporting students to achieve their potential both on and off the field.

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Duke of Edinburgh’s Award

Every year the DofE at Rossall inspires students to explore who they are, grow in confidence and develop the skills they need to successfully navigate life. Students will take part in activities based around volunteering, physical, skill and the expedition to better themselves, their community and environment.

A dedicated team of staff help to facilitate the running of the Award for the students who meet on a weekly basis to receive support for each element of the Award, but in the main to be trained in the skills required to successfully complete the expedition.

The School’s aim is for students to have achieved all three awards before the end of Y12 as University applications can be bolstered by the DofE Gold Award. The award is also viewed positively in industry in terms of applications for both apprenticeships and careers.

All awards can be achieved until the age of 25 years old. However, the model Rossall employs is as follows:

70 pupils participated across the three levels of the award during the 2024-25 academic year.

COMBINED CADET FORCE

Rossall School was the first independent school to enrol volunteers to the Combined Cadet Force (CCF). The role of the CCF is to help pupils to develop powers of leadership through training, which promotes qualities of responsibility, self-reliance, resourcefulness, endurance, perseverance and a sense of service to the community.

Established in 1860, Rossall CCF is the oldest cadet force in the UK and one of only four Schools’ CCF Contingents to be awarded the Queen’s colours. There are three sections: the Navy, Army, Royal Air Force.

Huge progress has been made in terms of engagement within the CCF, and this is reflected in increased numbers across all Sections. There are also more staff volunteers, and this has served to revitalise this important aspect of School life. Cadets follow the Army Proficiency Certificate syllabus with all Year 9s receiving the Basic Certificate.

From Year 10 upwards, there is the opportunity to achieve the Advanced Certificate with opportunities to engage in a huge variety of qualifications in outdoor activities and leadership.

The SSI is working closely with other local cadet groups who share the School’s facilities. There are also close links with our own Duke of Edinburgh Award.

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THE CORPORATION OF ROSSALL SCHOOL

REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

FUTURE PLANS

Rossall School exists to provide an education of depth, ambition and purpose within a community where pupils are known, supported and challenged to excel. The Governors remain committed to sustaining a distinctive allround education that develops academic excellence, character and confidence, while securing the School’s long term future. The admirable and single-minded focus on raising academic standards by Rossall’s Headmaster from 2018-2025, Jeremy Quartermain, has put the School in a strong position. The new Headmaster, Andrew McBride, looks set to sustain momentum and is galvanizing the Rossall community for the challenges ahead.

The academic outcomes in 2025, outlined earlier, are to be celebrated: Governors are committed to the School continuing to achieve across all pathways. These results translate into excellent progression to top universities in the UK and abroad, especially the USA. This metric is seen as central to the School’s success.

The Governors recognise that Rossall’s impact is strengthened by its specialist provision. Signature programmes in Football, Golf, Piano and the Performing Arts combine expert teaching with outstanding facilities.

The School is funded primarily through fee income, supported by the Rossall Foundation and Rossall Enterprises Limited.

2024/25 saw significant increases to independent schools’ costs as a result of legislative changes: VAT on fees, the removal of business rates’ relief and the increase in employers’ National Insurance contributions drove up costs and therefore delivered a shock to schools’ finances. Access to independent education is confined to an increasingly small proportion of the population.

In the light of these factors, the Rossall Council maintains a prudent approach to financial management, balancing investment in people, facilities and provision with the long-term sustainability of the School. Council remains committed to investing in all areas: teaching spaces, boarding, digital and physical infrastructure, whilst increasing income from its facilities, especially in the school holidays.

Widening access remains central to Rossall’s values. Through bursaries and scholarships, a small number of pupils of outstanding ability and potential are able to benefit from a Rossall education regardless of financial circumstances.

Through strong governance, careful stewardship and an increased focus on driving down costs, Governors are confident that Rossall remains well positioned to deliver outstanding outcomes and to prepare young people for successful and meaningful futures.

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THE CORPORATION OF ROSSALL SCHOOL

REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

OUR FINANCES

The consolidated net movement in funds of the School was a loss of £487,826 compared with a loss of £628,586 in 2024. This translates to a positive EBITDA figure of £248,792 compared with £350,060 in the prior year.

Fee income has increased due to the continued demand for places as well as the success of the School’s Academies and Summer School. However, the School continues to face significant cost increases in areas that are outside of our control, in particular, food costs, the removal of business rates relief and the increase in employer national insurance contributions to name a few.

Cash at the year-end of £5,323,577 is £1,345,590 above the comparative figure of £3,977,987 for August 2024.

GOING CONCERN

The Governors’ assessment of the School’s ability to continue as a going concern is key.

All charities must explain if there are ‘material uncertainties related to events or conditions that cast significant doubt on the charity’s ability to continue as a going concern’. This has been discussed with the auditors and, whilst there is no reason to believe that there are material uncertainties related to the School, we need to acknowledge the risk in the trustees’ report.

In recent years, COVID-19 has been a focus when considering the School’s ability to continue as a going concern. Though this risk has reduced, there are other factors which could adversely affect the School’s ability to operate effectively and could, in extremis, affect its ability to continue as a going concern; in particular the current political climate resulting from the change to a Labour government and the policies implemented - VAT on independent school fees from January 2025, removal of business rates relief from April 2025 and changes to employer national insurance contributions increasing the amount due, from April 2025. Previously considered increases to interest rates and utility costs are still a risk to consider though these are being carefully managed.

At this point in the year, we have a detailed budget for the year to August 2026 and a high-level budget for the year to August 2027. Whilst forecasting beyond August 2027 with any degree of accuracy is difficult, prudent future year forecasts have been prepared based on assumed cost increases and appropriate fee increases accordingly.

Council has taken into account the continued cost pressures on families as well as the increased cost of school fees due to rising costs and the implementation of VAT. Work to take place by the Senior Leadership Executive will ensure efficiency and surplus improvement whilst ensuring minimal impact on the educational provision for our pupils.

Pupil recruitment remains good across most year groups of the Nursery, Pre-Prep, Prep and Senior School. Given the impact of the increase in fees because of VAT, we remain confident that demand for the School will continue to be good into the 2026-27 academic year.

There are no material uncertainties which cast doubt upon the School’s going concern status.

The Governors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Governors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements.

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THE CORPORATION OF ROSSALL SCHOOL REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Going Concern (continued)

In forming their assessment, the Governors have considered forecasted income and expenditure and the ongoing uncertainties and risks affecting the School in light of the current economic environment.

In particular, the Governors have focussed on the cash balance, building up a cash contingency in case of a worsening economic climate and future changes to the independent school sector.

Recognising that the ability to meet our obligations as they fall due is of paramount importance, Council carefully scrutinises cash flow forecasts, debtor levels and loan schedules giving further assurance with regard to the School’s liquidity.

Based on the above, the Governors have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Rossall Enterprises Ltd

Rossall Enterprises Ltd is a trading company wholly owned by the Corporation of Rossall School. The company provides accommodation and facilities for conferences, courses and activity holidays, retail services and a bus service for pupils. Rossall Enterprises Ltd donates any taxable surplus to Rossall School under the Gift Aid Scheme.

For the year to August 2025, the company was able to generate a good number of activities including a full programme of residential lettings in the Summer. Other income streams have returned to profit and plans are in place to improve all income streams with a focus on swimming lettings income, the School shop and Mondos. Overall, the company made a profit of £108,468, and a Gift Aid donation will be made to the School accordingly.

The company has proved to be economically viable year on year, and its operations include several services for students which need to continue.

Council have reviewed the forecasts for Rossall Enterprises Limited and are confident that the company is a going concern and that it is appropriate that the School continue to support this trading subsidiary by making short-term funding available.

Pension liability

The School participates in the Independent School’s Pension Scheme, a multi-employer defined benefit scheme. It is not possible to obtain sufficient information to enable the School to account for the scheme as a defined benefit scheme and so it accounts for it as a defined contribution scheme.

The pension scheme is in deficit, and the School has had to take up a deficit funding arrangement. A liability is therefore recognised in the accounts. The amount recognised of £1,443,286 (2024: £612,286) is the net present value of the agreed deficit reduction contributions. Actuarial re-measurements increased the liability by £888,000 in the year (2024: increase of £23,832). This has been shown in the statement of financial activities as another recognised loss.

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THE CORPORATION OF ROSSALL SCHOOL REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Reserves

The School has a general reserve of £5,532,473 at 31[st] August 2025 (before taking into account the pension reserve of £1,443,286) in the form of unrestricted funds which are utilised and invested to further its charitable aims. Although the net book value of fixed assets is £11,259,504 the School’s reserves policy is based on the operation of a budgetary and control system that forecasts future financial outcomes including projecting cash balances for the next two financial years. It would not commit to major projects without ensuring adequate funding is in place. The School’s operations are funded on a prudent basis using its own resources or those of its connected charities.

During the course of 2018-19, the School entered into a £3.3m loan agreement with HSBC in order to assist with funding a specific capital project, the building of a £4.2m sports centre. This bank loan was converted to a fixed term loan in October 2019, until November 2024. The loan agreement was renegotiated and a further loan agreement, of the remaining £3m, was entered into with HSBC in January 2025 with the amount split equally with half the loan on a fixed rate and the other half on a variable rate to mitigate the risks of interest rate fluctuations.

Investment policy and performance

The School Trust Funds are held under management by Cazenove Capital Investment Ltd with whom the School’s Investment Committee meets during the year. The School’s investments are in the Charity Multi-Asset Fund run by Cazenove; the objective of this fund is a return target of CPI+4% over rolling ten-year periods. The Investment Committee’s chairman also confers regularly with Cazenove and reports directly to the School’s Council at its meetings during the year.

The School funds are deemed by the investment manager to be appropriate given its objectives of real capital growth over the longer term whilst paying a 4% dividend distribution. Within the portfolios a cash position is maintained which provides some extra protection against any negative fund movements.

Cazenove currently remains underweight in equities which they consider relatively unattractive against cash and bonds. This partly reflects equity market valuations which remain elevated versus history in most regions.

Further economic growth concerns are significant, with the U.S. consumption indicators starting to slow, European PMI remaining weak and China impacted by a weak property sector.

Apart from holding cash of 10% the School’s funds are invested in the Charity Multi-Asset Fund, run by Cazenove. This is designed for charities looking for real capital growth over the long term whilst paying a 4% per annum distribution.

Structure, governance and management

The Governors are an incorporated body under the title “The Corporation of Rossall School” arising from the Royal Charter dated 22 November 1890, as amended.

The Corporation Life Governors, Members of Council, Head, CFO, Secretary, Registered Office and names and addresses of other relevant organisations and persons are on pages 3 and 4. Members of the School Council are the charity trustees. Membership of Council is reviewed periodically by the Nominations Committee.

The following charitable trusts operate for the benefit of Rossall School and its pupils and are separately constituted legal entities with independent trustees:

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FOR THE YEAR ENDED 31 AUGUST 2025

Structure, governance and management (continued)

The Jackson Scholarship Fund and the Trapnell Fund provide scholarships for pupils at Rossall. The income from the Rossall School Endowment Fund and the Rossall Centenary Fund is applied for general educational purposes at Rossall School.

The Rossall Foundation, a company limited by guarantee, was established in 2005 with the purpose of raising funds to support the School’s development.

Organisational management

The Council determines the School’s vision, values, strategy and policies. The implementation and effectiveness of decisions are monitored either directly by the Council or indirectly through sub-committees, including the Finance & General Purposes Committee, the Education and Welfare Committee, the Senior Remuneration Committee, the Health & Safety Committee and the Safeguarding and Compliance Committee. Day to day management is delegated to the Head and the Chief Financial Officer and exercised through a Senior Leadership Executive.

The Head oversees the recruitment of all teaching staff whilst, under delegated authority, the Chief Financial Officer oversees the recruitment of administrative and support staff. The Head and Chief Financial Officer are invited to attend Governors’ meetings along with other members of the Senior Leadership Executive as relevant for the meetings.

Other relationships

The Head is a member of the Headmasters’ and Mistresses’ Conference which is an opportunity to share expertise, knowledge and experience across the independent school sector. The Conference also permits appropriate representation to Government and regulators of the views of the sector. Similarly, the School is a member of the Independent Schools’ Bursars Association.

Risk management

The Council has examined the principal areas of the charity’s operations and considered what major risks may arise in each of these areas. In the opinion of the trustees, the charity has established resources and reviewed systems, which, under normal conditions, should allow the risks identified by them to be mitigated to an acceptable level in its day-to-day operations. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Recruitment and training of members of Council

The School’s Charter provides that the appointment of new members shall be by a resolution of the Council. New members are selected having regard to their skills and expertise and receive appropriate training following their appointment.

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Key management personnel remuneration

The remuneration of the Head, Chief Financial Officer and other members of the Senior Leadership Executive is set by the Council with the objective of rewarding them fairly and responsibly for their individual contributions to the School’s success. The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to external benchmarking with other independent schools (provided by AGBIS).

The remuneration of other staff is delegated to the Head and Chief Financial Officer within the constraints of pay scale bands which have been set by Council, using teaching pay bands issued by the STRB as a point of reference where appropriate. Starting salaries for recruitment are set by Council at the lower to medium point within a band, providing scope for rewarding excellence. Pay increases on a global and individual level are agreed by Council on the recommendation of the Head and Chief Financial Officer.

Fundraising

The Rossall Foundation undertakes fundraising on behalf of Rossall School and is a separate charitable company.

Heritage Project

After many years of weathering the elements, the roof of Big School has received a well-deserved upgrade. The structure, which has seen countless assemblies, performances, and academic milestones, has had its fair share of wear and tear. With some areas showing signs of damage, a long-term solution was needed. During the last year, the Foundation funded the restoration of Big School roof at a cost totalling over £146,000.

In 2024, the Foundation funded the restoration of the Chapel Organ and following this, electrical work was required to enhance the restoration work during 2024-25. The Foundation funded this to ensure the Organ can work at full capacity.

Legacy

The Foundation was also in receipt of a number of legacy donations. One legacy was utilised to invest in a number of meaningful projects that enhance both academic and co-curricular life totalling £253,000. The funds have supported the development and improvement of key learning environments across the campus, including upgrades to a variety of co-curricular facilities. To support the Dance Academy, a new Sprung floor has been built in the Sports centre and a new Music Technology room that has now been opened to the whole School. Essential refurbishment work has also been undertaken in the Naworth building to ensure that this building is preserved within the Rossall campus. Notably, Porritt Hall has undergone significant renovation, including plans to create a wellbeing room that will be named ‘The Midgley Wellbeing room’.

A second legacy was used to fund the restoration of the East Window; this was restored by the beginning of June 2025 totalling over £160,000. The Foundation will be honouring the memory of the legator by having a dedicated plaque.

There were also other ad hoc projects throughout the year such as a donation to our CCF to fund the purchase of the King's Colours flags for £3,368 and development of our Golf centre. The redevelopment of the old classics block into the School's golf centre continues to make great progress. Alongside the continued investment made by the School and a donation of £2,322, we have been able to upgrade two of the rooms in the golf centre resulting in us now having seven indoor hitting areas.

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REPORT OF THE GOVERNORS (continued)

FOR THE YEAR ENDED 31 AUGUST 2025

Bursary Support

One of the key areas of support is bursary funding; the Changing Lives Foundation has been relaunched from September 2025, and the Foundation is also funding the cost of extras for some pupils in receipt of a fee’s bursary during the 2025-26 academic year, expecting to total c.£10,000. This financial support will enable the students to fully utilise the opportunities at Rossall.

The Rossall Foundation raises funds from the public and follows the Fundraising Code of Practice. The Foundation carries out fundraising activities which include direct mailings and invitations to fundraising events. In all cases, the Foundation ensures that consent has been given for these communications in line with GDPR requirements.

Statement of trustees’ responsibilities

The trustees are responsible for preparing the Report of the Governors’ and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP. A resolution to appoint an independent auditor for the ensuing year will be proposed at the annual general meeting in accordance with the Charities Act 2011.

May 27, 2026 Approved by the Governors on …………………… and signed on their behalf by:

………………………………………… K Budge – Chairman of Council

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THE CORPORATION OF ROSSALL SCHOOL

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES THE CORPORATION OF ROSSALL SCHOOL

Opinion

We have audited the financial statements of The Corporation of Rossall School (the ‘Corporation’) and its subsidiaries (the ‘group’) for the year ended 31 August 2025 which comprise the Group Statement of Financial Activities, the Corporation Statement of Financial Activities, the Group Balance Sheet, the Corporation Balance Sheet, the Group Cash Flow Statement and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the ‘Auditor responsibilities for the audit of the financial statements’ section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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THE CORPORATION OF ROSSALL SCHOOL

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES THE CORPORATION OF ROSSALL SCHOOL (continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the group’s and the Corporation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the Corporation or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, is detailed below:

Page 28

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES THE CORPORATION OF ROSSALL SCHOOL (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Use of our report

This report is made solely to the Corporation’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Corporation’s Trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Corporation and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

MHA

Statutory Auditor Preston, United Kingdom

May 27, 2026

……………………………………

MHA is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).

Page 29

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2025

Note
Income from:
Donations and legacies
2
Other trading activities
3
Investments
4
Charitable activities
5
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
9&10
Net income /
(expenditure) before
other gains/(losses)
Net gains/(losses) on
investments
Net income /
(expenditure)
Transfers between funds
Other recognised gains/
(losses):
Remeasurements to
pension liability
19
Net movement in funds
Funds brought forward
Funds carried forward		 Unrestricted
income
funds
Restricted
income
funds
Endowment
funds
2025
Total
2024
Total
£
£
£
£
£
307,995
171,386
-
479,381
163,942
514,448
-
-
514,448
527,239
406,111
3,465
(2,363)
407,213
272,578
17,993,851
-
-
17,993,851
17,818,034
19,222,405
174,851
(2,363)
19,394,893
18,781,793
420,718
-
-
420,718
449,481
18,583,376
157
3,462
18,586,995
18,950,271
19,004,094
157
3,462
19,007,713
19,399,752
218,311
174,694
(5,825)
387,180
(617,959)
-
3,428
9,566
12,994
13,205
218,311
178,122
3,741
400,174
(604,754)
664
(3,308)
2,644
-
-
(888,000)
-
-
(888,000)
(23,832)
(669,025)
174,814
6,385
(487,826)
(628,586)
4,882,524
349,736
1,469,359
6,701,619
7,330,205
4,213,499
524,550
1,475,744
6,213,793
6,701,619

The Group has not acquired or discontinued any activities, and all recognised gains and losses are shown above.

The comparative consolidated statement of financial activities can be found in note 29 to the accounts.

Page 30

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

CORPORATION STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2025

Note
Income from:
Donations and legacies
2
Investments
4
Charitable activities
5
Total income
Expenditure on:
Raising funds
Investment Management Costs
Charitable activities
Total expenditure
9&10
Net income /(expenditure)
Transfers between funds
Other recognised gains/ (losses):
Remeasurements to pension liability
19
Net movement in funds
Funds brought forward
Funds carried forward		 Unrestricted
income
funds
Restricted
income
funds
2025
Total
2024
Total
£
£
£
£
496,053
171,386
667,439
163,942
406,111 -
406,111
362,414
17,993,851
-
17,993,851
17,825,032
18,896,015
171,386
19,067,401
18,351,388
24,726
-
24,726
47,488

18,655,159
-
18,655,159
19,033,462
18,679,885
-
18,679,885
19,080,950
216,130
171,386
387,516
(729,562)
-
-
-
-
(888,000)
-
(888,000)
(23,832)
(671,870)
171,386
(500,484)
(753,394)
4,761,057
69,560
4,830,617
5,584,011
4,089,187
240,946
4,330,133
4,830,617

The Corporation has not acquired or discontinued any activities, and all recognised gains and losses are shown above.

The comparative Corporation statement of financial activities can be found in note 30 to the accounts.

Page 31

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

CONSOLIDATED BALANCE SHEET

AS AT 31 AUGUST 2025

Note

£
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Stock
46,669
Debtors
13
840,065
Cash and deposits
5,323,577
6,210,311
CURRENT LIABILITIES
Creditors: payable within one year
14
(6,319,375)
NET CURRENT ASSETS/(LIABILTIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
LONG TERM LIABILITIES
15
Creditors: payable after one year
NET ASSETS
REPRESENTED BY:
ENDOWMENT FUNDS
18
RESTRICTED FUNDS
17
UNRESTRICTED FUNDS
General Reserve
16
5,656,785
Pension Reserve
19
(1,443,286)

May 27, 2026
£
46,669
840,065
5,323,577		 2025
£
11,267,161
229,638
£
55,276
1,071,170
3,977,987		 2024
£
11,476,773
217,044
11,693,817
(620,014)
11,073,803
(4,372,184)
6,701,619
1,469,359
349,736
4,882,524
6,701,619
11,496,799
(109,064)
6,210,311
(6,319,375)		 5,104,433
(5,724,447)
5,656,785
(1,443,286)		 5,494,810
(612,286)
11,387,735
(5,173,942)
6,213,793
1,475,744
524,550
4,213,499
6,213,793

The accounts were approved by the Council on ………………………

…………………………………… ……………………………………. K Budge Mr RA Wilson Chairman of Council Chair of Finance & General Purposes Committee

Page 32

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

CORPORATION BALANCE SHEET

AS AT 31 AUGUST 2025

Note
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Stock
Debtors
13
Cash and deposits
CURRENT LIABILITIES
Creditors payable within one year
14
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
LONG TERM LIABILITIES
Creditors payable after one year
15
NET ASSETS
REPRESENTED BY:
RESTRICTED FUNDS
17
UNRESTRICTED FUNDS
General Reserve
16
Pension Reserve
19
£
9,606
983,945
5,041,126		 2025
£
11,259,504
10,001
£
9,606
1,394,164
3,563,146		 2024
£
11,466,246
10,001
11,269,505
(229,278)		 11,476,247
(737,294)
6,034,677
(6,263,955)		 4,966,916
(5,704,210)
5,532,473
(1,443,286)		 5,373,343
(612,286)
11,040,227
(6,710,094)		 10,738,953
(5,908,336)
4,330,133 4,830,617
240,946
4,089,187		 69,560
4,761,057
4,330,133 4,830,617

Page 33

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

CONSOLIDATED CASHFLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2025

Note
Net cash provided by / (used in)
operating activities
20
Cash flows from investing activities:
Investment income
Finance costs
Purchase of tangible fixed assets
Purchase of investments
Receipts from the sale of fixed assets
Movement in funds held by broker
Receipts from the sale of investments
Net cash used in investing activities
Cash flows from financing activities:
Loans from associated charities
Bank loan
Fee deposits
Net cash (used in) / provided by
financing activities
Change in cash and cash equivalents
in the year
21
Cash and cash equivalents at the
beginning of the year
Cash and cash equivalents at the
end of the year
£
407,213
(313,686)
(552,978)
(16,916)
-
14,060
3,255		 2025
£
1,540,056
(459,052)
264,586

£
272,579
(340,595)
(389,111)
-
(2,966)
3,419		 2024
£
887,072
(456,674)
(64,514)
365,884
3,612,103
3,977,987
-
(134,530)
399,116		 -
(102,434)
37,920
1,345,590
3,977,987
5,323,577

Page 34

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Basis of preparation

The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of freehold land and buildings and investments at market value.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Corporation of Rossall School meets the definition of a public benefit entity under FRS 102.

The consolidated financial statements include the financial statements of the Corporation of Rossall School, Rossall Enterprises Limited, and Fund A. The accounts have been consolidated on a line-by-line basis.

Connected Charities

A number of charitable funds have been established to support or promote the advancement of education by providing income to Rossall School or by providing scholarships and bursaries for pupils of Rossall School. Until recently the Rossall Centenary Fund and Rossall Endowment Fund (incorporating the Jackson Scholarship Fund) were classified as linked charities for the purpose of Charity Commission registration. However, as the Corporation does not have the power to appoint Trustees, they were not considered to be subsidiary undertakings. The Trustees have successfully delinked the charities from the school and have registered the charities separately with the Charity Commission. The funds providing income are the Rossall Centenary Fund and the Rossall Endowment Fund. The Scholarship Funds are the Jackson Scholarship Fund and the Trapnell Fund. All organisations connected with or controlled by the Corporation can be contacted at the address given on page 4.

Going concern

The Governors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Governors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements.

In forming their assessment, the Governors have considered forecasted income and expenditure and the ongoing uncertainties and risks affecting the school in light of the current economic environment.

Page 35

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (continued)

Going Concern (continued)

In particular, the Governors have focussed on cash reserves, building up a cash contingency in case of a worsening economic climate and future changes to the independent school sector. Recognising that the ability to meet our obligations as they fall due is of paramount importance, Council carefully scrutinises cash flow forecasts, debtor levels and loan schedules giving further assurance with regard to the school’s liquidity.

Based on the above, the Governors have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Fund accounting

General funds are unrestricted funds, which are available for use at the discretion of the Governors in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds are set aside by the Governors out of unrestricted general funds for specific purposes or projects. Restricted funds are those to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.

Where funds are provided for fixed assets, the treatment of the fixed assets acquired with those funds will depend on the basis on which they are held. When the asset has been purchased from a restricted fund donation but is held for a general and not a restricted purpose, the value of the tangible fixed assets will be transferred from restricted to unrestricted funds. If the terms on which the funds were received require that the fixed asset which is provided should be held on trust for a specific purpose, then the asset will form part of restricted funds, as will a fixed asset which has itself been given to the school on trust for a specific purpose.

Income

Fees receivable and charges for services and use of premises are accounted for in the period in which the service is provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the charity, but include contributions received from restricted funds for scholarships, bursaries and other grants.

Donations receivable for the general purposes of the charity are credited to “other unrestricted funds” to distinguish them from direct school income. Donations for purposes restricted by the wishes of the donor are taken to “restricted funds” where these wishes are legally binding on the governors. Donations required to be retained as capital in accordance with the donor’s wishes are accounted for as “endowments” – permanent or expendable according to the nature of the restriction.

Legacies are accounted for on a receivable basis. Pecuniary legacies are recognised following formal notification from the estate. Residuary legacies are recognised only when the charity’s interest can be measured, which is normally on grant of probate. Bequeathed properties awaiting sale are included in legacy income when the charity takes ownership of the property.

Income received in advance of an event or provision of other specific provision of other specified service it is deferred until the criteria for income recognition are met.

Page 36

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (continued)

Income (continued)

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Certain expenditure is apportioned to cost categories based on the estimated amount attributable to that activity in the year. The irrecoverable element of VAT is included with the item of expense to which it relates.

Governance costs comprise the costs of running the charity, including strategic planning for its future development, also internal and external audit, any legal advice for the Members of Council, and all the costs of complying with constitutional and statutory requirements, such as the costs of Board and Committee meetings and of preparing statutory accounts and satisfying public accountability.

Fixed assets and depreciation

All capital expenditure over £1,000 is capitalised. The costs of fixtures and equipment for new buildings are added to the capital cost of the building. For subsequent refurbishment projects, subsequent expenditure is capitalised where it provides an enhancement of the economic benefits of the fixed asset in excess of the previously assessed standard of performance. Where subsequent expenditure merely ensures that the fixed asset maintains its previously assessed standard of performance, such expenditure is charged to the statement of financial activities as incurred.

Fixed assets are stated at cost less accumulated depreciation, except for buildings which were owned, and revalued by Duxbury’s and Bentley Higgs and Co on 5 October 1996, on the basis of depreciated replacement cost. These buildings are stated at valuation less accumulated depreciation. Depreciated replacement cost is based on a hypothetical transaction which would provide for the cost to replace the buildings in their state at the date of the valuation. This valuation will not be updated as the Corporation has taken advantage of the transitional provisions available under FRS15.

Depreciation is provided on fixed assets at the following rates:

Land - 0%
Historic buildings - 0%
Buildings - between 2% and 3.33% on net book value
Refurbishment projects - between 6.67% and 15% on cost
Motor vehicles - 25% on cost
Plant and equipment - between 10% and 33.3% on cost
Leased items - over the period of the lease

Historic buildings are those buildings which have been identified by Bushells & Benstead as having a long estimated remaining useful economic life and high residual value.

Page 37

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (continued)

Quoted investments

All investments in quoted securities held at the year-end are shown in the accounts at market value as provided by Cazenove Capital Investment Ltd, the Corporation’s investment adviser.

Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the statement of financial activities.

Stocks

Stocks are valued at the lower of cost and net realisable value. No account is taken of any stocks of maintenance materials.

Debtors

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

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Operating leases

Rentals applicable to operating leases are charged to the statement of financial activities on a straightline basis over the term of the lease.

Pension schemes

The School participates in the Teachers’ Pension Scheme (‘TPS’), and the Independent Schools’ Defined Benefit Pension Scheme. These are defined benefit schemes, and the assets are held separately from those of the School.

Page 38

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (continued)

Pension schemes (continued)

The TPS is an unfunded scheme, and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the School in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of valuations using a prospective unit credit method. As stated in the notes to the accounts, the TPS is a multi-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme for accounting purposes, and the contributions are recognised in the period to which they relate.

The Independent Schools’ Defined Benefit Pension Scheme is a multi-employer scheme. It is not possible for the School to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme, and therefore it accounts for the scheme as a defined contribution scheme, with the current service contributions charged as an expense to the statement of financial activities as they fall due. As the scheme is in deficit and the School has agreed to a deficit funding arrangement, the School recognises a liability for this obligation which is equal to the discounted present value of the future deficit payments.

The School also participates in the Independent Schools’ Defined Contribution Pension Scheme. Payments to the scheme are charged as an expense to the statement of financial activities as they fall due.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The Governors do not believe that there are any estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Page 39

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2 Income from donations and legacies

Group
Donations and bequests
Corporation
Donations and bequests
Donation from subsidiaries		 Unrestricted
Restricted
2025
2024
income
income
Total
Total
£
£
£
£
307,995
171,386
479,381
163,942
Unrestricted
Restricted
2025
2024
income
income
Total
Total
£
£
£
£
398,872
171,386
570,258
163,942
97,181
-
97,181
-
496,053
171,386
667,439
163,942

Comparative information is included in note 31.

3 Income from other trading activities

Group
Trading income
Corporation
Trading income		 Unrestricted
Restricted
2025
2024
income
income
Total
Total
£
£
£
£
514,448
-
514,448
527,239
Unrestricted
Restricted
2025
2024
income
income
Total
Total
£
£
£
£
-
-
-
-

All income from other trading activities was unrestricted in the previous year.

Page 40

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4 Investment income

Group
Investment income
Interest on bank deposits
Corporation
Investment income
Interest on bank deposits		 Unrestricted
Restricted
Endowment
2025
2024
income
income
income
Total
Total
£
£
£
£
£
312,184
3,465
(2,363)
313,286
199,826
93,927
-
-
93,927
72,752
406,111
3,465
(2,363)
407,213
272,578
Unrestricted
Restricted
Endowment
2025
2024
income
income
income
Total
Total
£
£
£
£
£
312,184
-
-
312,184
289,662
93,927
-
-
93,927
72,752
406,111
-
-
406,111
362,414

Comparative information is included in note 32.

Page 41

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

5 Income from charitable activities

Group
School fees
Other charges to pupils
Scholarships and discounts
Registration fees
Summer school
Staff accommodation
Rates recharges to staff		 Unrestricted
Restricted
2025
2024
income
income
Total
Total
£
£
£
£
19,230,484
-
19,230,484
19,344,185
1,305,668
-
1,305,668
1,322,384
(3,027,499)
-
(3,027,499)
(3,230,282)
65,706
-
65,706
79,756
265,688
-
265,688
151,412
105,090
48,714
-
105,090
48,714
99,474
51,105
17,993,851
-
17,993,851
17,818,034
Corporation
School fees
Other charges to pupils
Scholarships and discounts
Registration fees
Summer school
Staff accommodation
Rates recharges to staff
Income from subsidiaries		 Unrestricted
Restricted
2025
2024
income
income
Total
Total
£
£
£
£
19,224,681
-
19,224,681
19,344,185
1,305,668
-
1,305,668
1,322,384
(3,027,499)
-
(3,027,499)
(3,230,282)
65,706
-
65,706
79,756
265,688
-
265,688
151,412
105,090
-
105,090
99,474
48,714
-
48,714
51,105
5,803
-
5,803
6,998
17,993,851
-
17,993,851
17,825,032

All income from charitable activities was unrestricted in the previous year.

Page 42

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

6 Income from subsidiary’s trading activities

The charity owns the whole of the share capital of Rossall Enterprises Limited (company number 02028626), which is incorporated in England and Wales. Its trading results for the year and a summary of the balance sheet, extracted from the audited accounts, are summarised below:

Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit
Interest payable
Profit before gift aid
Charitable donation
Retained profit for the year
Assets
Liabilities
Share capital and reserves		 Rossall Enterprises Ltd
2025
2024
£
£
514,448
527,239
(375,550)
(381,614)
138,898
145,625
(29,933)
(30,159)
108,965
115,466
(5,803)
(6,998)
103,162
108,468
(97,181)
-
5,981
108,468
893,870
797,864
(759,558)
(669,533)
134,312
128,331

Rossall Enterprises Limited provides accommodation and facilities for conferences, courses and activity holidays together with retail services for the benefit of the pupils of Rossall School and their parents. Rossall Enterprises Ltd donates its taxable profits to Rossall School.

7 Expenditure

Expenditure
2025 2024
£ £
Includes:
Auditor’s remuneration (net of VAT): for audit services 28,375 27,150
Depreciation 762,590 721,051
Operating lease payments recognised as an expense 340,897 343,150

Page 43

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2025 2024
The average number of full-time equivalent employees in Number Number
each department was:
Teaching and support staff 122 131
Administration and marketing 25 25
Welfare and medical 60 64
Premises maintenance 17 19
School total 224 239
Rossall Enterprises 5 5
Group total 229 244
Average total staff numbers employed (headcount) 296 274
Payroll costs were: Group Corporation
2025 2024 2025 2024
£ £ £ £
Wages and salaries 8,336,428 8,555,622 8,285,851 8,486,517
National insurance 952,134 841,866 939,818 828,938
Pension costs 1,391,184 1,381,931 1,388,208 1,398,521
Apprenticeship Levy 26,114 29,108 26,114 29,108
10,705,860 10,808,527 10,639,991 10,743,084
The number of employees whose remuneration exceeded £60,000 was: 2025 2024
Number Number
£60,001 - £70,000 12 9
£70,001 - £80,000 5 2
£80,001 - £90,000 3 1
£90,001 - £100,000 0 0
£100,001 - £110,000 2 0
£150,001 - £160,000 0
 0
£170,001 - £180,000 1 1

Of the employees whose remuneration exceeded £60,000, there are nine (2024: eleven) who are accruing benefits under defined benefit schemes. Pension contributions on behalf of these employees in the year totalled £263,983 (2024: £184,049).

The Governors receive no remuneration or benefits. Expenses of £983 (2024: £765) were reimbursed by the Corporation during the year to 2025 for 2 trustees (2024: 2).

The key management personnel of the group comprise the key staff identified on page 4. The total employee benefits of the key management personnel, including employer National Insurance contributions, were £1,006,160 (2024: £943,936).

Included in the above staff costs total are non-statutory/non-contractual severance payments totalling £25,679 (of which £20,898 was not through payroll) (2024: £38,566). Also included in the above staff costs total are redundancy and contractual severance payments totalling £52,673 (2024: £45,906).

Page 44

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

9 Analysis of total expenditure – unrestricted income funds

Group
Expenditure on raising
funds
Costs of raising funds:
Rossall Foundation
Fundraising trading:
cost of goods sold and other
costs
Expenditure on charitable
activities
Teaching and support staff
Other educational and direct
costs
Welfare costs
Premises maintenance and
running costs
Marketing and agency costs
Finance costs
Bad debts
Office support costs
Governance costs (see
below)
Total expenditure
Governance costs
External audit
Support costs
Totals per above		 Staff costs
Rent,
rates,
insurance
& utilities
Other
costs
Deprecia-
tion
2025
Total
2024
Total
£
£
£
£
£
£
-
-
24,726
-
24,726
47,488
-
-
395,992
-
395,992
401,993
-
-
420,718
-
420,718
449,481
7,105,382
-
-
-
7,105,382
7,354,497
-
-
1,399,798
-
1,399,798
1,669,626
1,750,655
-
781,045
-
2,531,700
2,355,324
680,572
2,130,360
612,872
762,590
4,186,394
4,370,973
393,702
- 1,535,544
-
1,929,246
1,776,137
-
-
313,686
-
313,686
341,124
-
753,415
22,047
-
-
-
115,541
192,147
34,020
-
-
-
115,541
945,562
56,067
27,822
935,100
43,503
10,705,773
2,130,360
4,984,653
762,590
18,583,376
18,874,106
10,705,773
2,130,360
5,405,371
762,590
19,004,094
19,323,587
-
-
34,020
-
34,020
32,837
22,047
-
-
-
22,047
10,666
22,047
-
34,020
-
56,067
43,503

Page 45

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

9 Analysis of total expenditure – unrestricted income funds (continued)

Corporation
Expenditure on raising
funds
Costs of raising funds:
Rossall Foundation
Fundraising trading:
Cost of goods sold and other
costs
Expenditure on charitable
activities
Teaching and support staff
Other educational and direct
costs
Welfare costs
Premises maintenance and
running costs
Marketing and agency costs
Finance costs
Bad debts
Office support costs
Governance costs (see
below)
Total expenditure
Governance costs
External audit
Support costs
Totals per above		 Staff costs
Rent,
rates,
insurance
& utilities
Other
costs
Deprecia-
tion
2025
Total
Restated
2024
Total
£
£
£
£
£
£
-
-
24,726
-
-
24,726
-
47,488
-
24,726
24,726
47,488
7,105,382
-
-
-
7,105,382
7,354,497
-
-
1,399,798
-
1,399,798
1,669,626
1,750,655
-
781,045
-
2,531,700
2,355,324
680,572
2,130,360
612,872
759,720
4,183,524
4,370,016
393,702
- 1,535,544
-
1,929,246
1,776,137
-
-
398,096
-
398,096
431,337
-
753,415
-
-
112,404
192,147
-
112,404
945,562
27,822
935,100
22,047
-
27,400
-
49,447
37,816
10,705,773
2,130,360
5,059,306
759,720
18,655,159
18,957,675
10,705,773
2,130,360
5,084,032
759,720
18,679,885
19,005,163
-
-
27,400
-
27,400
27,150
22,047
-
-
-
22,047
10,666
22,047
-
27,400
-
49,447
37,816

Comparative information is included in note 33.

Page 46

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

10 Analysis of total expenditure – restricted income funds

Group
Expenditure on raising
funds
Expenditure on
charitable activities
Investment
management charges
Premises maintenance
and running costs
Total expenditure
Corporation
Expenditure on raising
funds
Expenditure on
charitable activities
Investment
management charges
Premises maintenance
and running costs
Total expenditure		 Staff
costs
Rent, rates,
insurance
and
utilities
£
£
-
-
Other
Costs
£
-		 Deprecia-
tion
2025
Total
2024
Total
£
£
£
-
-
-
-
-
-
-		 157
-		 -
157
152
-
-
75,787
-
-		 157 -
157
75,939
-
-		 157 -
157
75,939
Staff
costs
Rent, rates,
insurance
and
utilities
£
£
-
-
Other
Costs
£
-		 Deprecia-
tion
2025
Total
2024
Total
£
£
£
-
-
-
-
-
-
-		 -
-		 -
-
-
-
-
75,787
-
-		 - -
-
75,787
-
-		 - -
-
75,787

Comparative information is included in note 34.

Page 47

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

11
Fixed assets
Group
Cost or valuation
At 1 September 2024
Additions
Disposals
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
Disposals
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024
Corporation
Cost or valuation
At 1 September 2024
Additions
Disposals
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
Disposals
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024		 Freehold
Furniture
Motor
Land and
plant and
Vehicles
buildings
equipment
Total
£
£
£
£
20,650,925
3,251,417
196,139
24,098,481
123,888
419,095
9,995
552,978
-
-
-
-
20,774,813
3,670,512
206,134
24,651,459
9,810,173
2,618,444
193,091
12,621,708
497,585
259,050
5,955
762,590
-
-
-
-
10,307,758
2,877,494
199,046
13,384,298
10,467,055
793,018
7,088
11,267,161
10,840,752
632,973
3,048
11,476,773
20,650,925
3,221,932
196,139
24,068,996
123,888
419,095
9,995
552,978
-
-
-
-
20,774,813
3,641,027
206,134
24,621,974
9,810,173
2,599,486
193,091
12,602,750
497,585
256,180
5,955
759,720
-
-
-
-
10,307,758
2,855,666
199,046
13,362,470
10,467,055
785,361
7,088
11,259,504
10,840,752
622,446
3,048
11,466,246

Part of the land and buildings held at the year end were previously revalued by Duxbury’s and Bentley Higgs & Co on 5 October 1996. This valuation will not be updated as the Corporation has taken advantage of the transitional provisions previously available under FRS15. The original cost less accumulated depreciation is £1,981,040 (2024 £2,032,108).

Page 48

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

12 Investments

Market
value at
1 September
2024
Movement
in cash
held
by broker
Additions/
disposals
Investment
gains and
losses
Market
value at
31 August
2025
Group
£
£
£
£
£
Funds held by broker:
Fund A
217,044
(14,060)
13,660
12,994
229,638
217,044
(14,060)
13,660
12,994
229,638
Corporation
2025
2024
£
£
Shares at cost:
Rossall Enterprises Ltd
10,000
10,000
Rossall International Ltd
1
1
10,001
10,001
Group
Investment gains/(losses):
2025
2024
£
£
Realised – disposals
15,767
50
Unrealised – change in market value
4,780
13,155
20,547
13,205		 Market
value at
1 September
2024
Movement
in cash
held
by broker
Additions/
disposals
Investment
gains and
losses
Market
value at
31 August
2025
Group
£
£
£
£
£
Funds held by broker:
Fund A
217,044
(14,060)
13,660
12,994
229,638
217,044
(14,060)
13,660
12,994
229,638
Corporation
2025
2024
£
£
Shares at cost:
Rossall Enterprises Ltd
10,000
10,000
Rossall International Ltd
1
1
10,001
10,001
Group
Investment gains/(losses):
2025
2024
£
£
Realised – disposals
15,767
50
Unrealised – change in market value
4,780
13,155
20,547
13,205		 Market
value at
1 September
2024
Movement
in cash
held
by broker
Additions/
disposals
Investment
gains and
losses
Market
value at
31 August
2025
Group
£
£
£
£
£
Funds held by broker:
Fund A
217,044
(14,060)
13,660
12,994
229,638
217,044
(14,060)
13,660
12,994
229,638
Corporation
2025
2024
£
£
Shares at cost:
Rossall Enterprises Ltd
10,000
10,000
Rossall International Ltd
1
1
10,001
10,001
Group
Investment gains/(losses):
2025
2024
£
£
Realised – disposals
15,767
50
Unrealised – change in market value
4,780
13,155
20,547
13,205		 Market
value at
1 September
2024
Movement
in cash
held
by broker
Additions/
disposals
Investment
gains and
losses
Market
value at
31 August
2025
Group
£
£
£
£
£
Funds held by broker:
Fund A
217,044
(14,060)
13,660
12,994
229,638
217,044
(14,060)
13,660
12,994
229,638
Corporation
2025
2024
£
£
Shares at cost:
Rossall Enterprises Ltd
10,000
10,000
Rossall International Ltd
1
1
10,001
10,001
Group
Investment gains/(losses):
2025
2024
£
£
Realised – disposals
15,767
50
Unrealised – change in market value
4,780
13,155
20,547
13,205
217,044
(14,060)
10,001
10,001
Group
2025
2024
£
£
15,767
50
4,780
13,155
20,547
13,205

The market value of investments includes cash held on deposit with the stockbroker as follows: Fund A £4,359 (2024: £18,441)

Rossall Enterprises Limited is a wholly owned subsidiary of the Corporation of Rossall School. Its principal activities are the provision of accommodation and facilities for conferences, courses and activity holidays together with retail services for the benefit of the pupils of Rossall School and their parents. In the opinion of the Council, the market value of the investment in Rossall Enterprises Ltd is equal to the cost.

Rossall International Ltd was incorporated on 1 April 2019 in order to explore opportunities including the opening of schools and educational activities outside of the United Kingdom. Rossall International Ltd is a wholly owned subsidiary of the Corporation of Rossall School and it is currently dormant.

Page 49

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

13 Debtors

Debtors
Trade debtors and Pupils’ accounts
Prepayments & accrued income
Other debtors
Amounts due from group undertakings
Amounts due from associated charities		 Group
Corporation
2025
2024
2025
2024
£
£
£
£
79,015
684,833
99,585
358,009
756,470
379,488
756,470
379,488
1,075
2,145
1,075
2,145
-
-
123,310
649,818
3,505
4,704
3,505
4,704
840,065
1,071,170
983,945
1,394,164

The amounts due from group undertakings within the Corporation includes £100,000 (2024: £100,000) falling due within one year.

14 Creditors – amounts falling due within one year

Fees paid in advance
Accrued expenses
Other Taxation and National
Insurance contributions
Other creditors
Pension deficit payments
Fee deposits
Amounts due to associated charities
Bank loan		 Group
Corporation
2025
2024
2025
2024
£
£
£
£
4,662,672
4,180,614
4,662,672
4,180,614
859,481
615,861
852,327
608,563
86,629
256,293
41,447
243,783
16,956
188,288
14,181
188,168
159,000
84,273
159,000
84,273
399,116
4,601
130,920
191,625
61,182
146,311
399,116
4,292
130,920
191,625
60,873
146,311
6,319,375
5,724,447
6,263,955
5,704,210

Page 50

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

15 Creditors – amounts falling due after more than one year

Fee deposits
Amounts due to group undertakings
Amounts due to associated charities
Bank loan
Pension deficit payments		 Group
Corporation
2025
2024
2025
2024
£
£
£
£
967,948
776,323
967,948
776,323
-
-
1,536,152
1,536,152
152,914
152,914
152,914
152,914
2,795,794
2,914,934
2,795,794
2,914,934
3,916,656
3,844,171
5,452,808
5,380,323
1,257,286
528,013
1,257,286
528,013
5,173,942
4,372,184
6,710,094
5,908,336

The bank loan is secured by a first legal mortgage over the freehold property of the School. Group creditors include amounts of £2,349,113 (2024: £2,413,449) falling due after 5 years. Corporation creditors include amounts of £3,617,125 (2024: £3,351,939) falling due after 5 years.

The bank loan falls due for repayment as follows:

Within one year
Between one and two years
Between two and five years
After more than five years		 2025
2024
£
£
132,328
110,394
140,466
119,260
475,159
418,388
2,178,761
2,413,449
2,926,714
3,061,491

The bank loan with HSBC Bank plc was arranged in order to facilitate the building of a £4.2m sports centre. The project was completed in May 2019, and the loan was converted to a fixed term facility.

The first two years of this loan were interest only with no capital repayable. The rate for the first 12 months was fixed at 3.24% and the loan was then repayable over 18 years with interest charged at 2.5% over Bank of England base rate.

Following the initial 24 month period, the terms of the loan were a three year fixed term with an amortisation period of 18 years. At the end of this three year period, the loan was renegotiated.

In January 2025, two new facility agreements were signed with HSBC for term loans of £1.5m (£3m in total), to replace the facility disclosed above. One facility bears interest of 2% over the base rate and the other is a fixed rate of 5.97%. Both facilities are five year terms, but to continue the previous facility, the repayments are amortised over 15 years.

Page 51

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

16
Unrestricted funds
Corporation of Rossall School
Rossall Enterprises Ltd
Group total		 2025
2024
£
£
5,532,473
5,373,343
124,312
121,467
5,656,785
5,494,810

17 Restricted funds

Restricted funds
Group
Corlett Bursary1
Sir Thomas Lloyd Travel
Fund2
Rossall Foundation3
Miscellaneous projects5
War Memorial Fund6
Budge Memorial Fund7
Corporation
Corlett Bursary1
Rossall Foundation3
Miscellaneous projects5
War Memorial Fund6		 Balance
b/f at 1
Sep 2024
£
194,913
49,587
27,516
5,366
36,678
35,676		 Investment
Balance
gains/
c/f at 31
Income Expenditure
Transfers
(losses)
Aug 2025
£
£
£
£
£
-
-
-
-
194,913
2,323
(105)
(3,308)
3,428
51,925
171,386
-
-
-
198,902
-
-
-
-
5,366
-
-
-
-
36,678
1,142
(52)
-
-
36,766
349,736 174,851
(157)
(3,308)
3,428
524,550
-
27,516
5,366
36,678
69,560		 -
-
-
-
-
171,386
-
- -
-
198,902
-
-
- -
5,366
-
-
- -
-
36,678
171,386
-
- -
-
240,946

  1. The Corlett Bursary Fund was created by G Corlett to fund bursaries and scholarships for pupils at Rossall School. 2. The Sir Thomas Lloyd Travel Fund is administered as part of Fund A. The income of the fund is to be applied in awarding travel scholarships to pupils who are either at Rossall School or who have recently left, for the purpose of enabling them to further their education beyond the British Isles.

  2. The Rossall Foundation has provided funds to contribute towards the refurbishment of the school. The grants received have been credited to restricted income funds and the related expenditure included in fixed assets. Depreciation has been charged as an expense against restricted funds in the statement of financial activities.

  3. Miscellaneous projects are grants received from funds and individuals for the relevant expenditure. The grant received has been credited to restricted income funds and the related expenditure included in fixed assets. Depreciation has been charged as an expense against restricted funds in the statement of financial activities.

  4. The War Memorial Fund represents amounts previously loaned to the School by the War Memorial trust fund which was written off and donated to the school to spend on the refurbishment of the cricket pavilion. This expenditure was partially capitalised and has been included in fixed assets with the depreciation being charged as an expense against restricted funds in the statement of financial activities.

  5. The W H Budge Memorial Fund is administered as part of Fund A. The income of the fund is to be applied for the promotion and furtherance of education in the provision of extra-curricular and leisure time activities for Junior School pupils whose parents are unable to meet the cost.

Page 52

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

17 Restricted funds – previous year


Group
Corlett Bursary1
Sir Thomas Lloyd Travel
Fund2
Rossall Foundation3
Rossallian Club4
Miscellaneous projects5
War Memorial Fund6
Budge Memorial Fund8
Corporation
Corlett Bursary1
Rossall Foundation3
Rossallian Club4
Miscellaneous projects5
War Memorial Fund6		 Balance
Investment
Balance
b/f at 1
gains/
c/f at 31
Sep 2023
Income Expenditure
Transfers
(losses)
Aug 2024
£
£
£
£
£
£
194,913
-
-
-
-
194,913
47,280
2,346
(100)
(3,423)
3,484
49,587
29,293
70,145
(71,922)
-
-
27,516
-
-
-
-
-
-
5,366
-
-
-
-
5,366
40,543
-
(3,865)
-
-
36,678
32,676
1,228
(52)
-
1,824
35,676
350,071
73,719
(75,939)
(3,423)
5,308
349,736
-
-
-
-
-
-
29,293
70,145
(71,922)
- -
-
27,516
-
-
-
- -
-
-
5,366
-
-
- -
5,366
40,543
-
(3,865)
- -
-
36,678
75,202
70,145
(75,787)
- -
-
69,560

18 Endowment funds

Endowment funds
2025 2024
£ £
Fund A 1,475,744 1,469,359

Fund A is a consolidation of various smaller funds and provides income for scholarships and prizes.

19 Pensions

Retirement benefits to employees of Rossall School are provided through two defined benefit schemes and one defined contribution scheme, which are funded by the School’s and employees’ contributions.

Defined benefit schemes Teachers’ Pension Scheme

Rossall School participates in the Teachers’ Pension Scheme (England and Wales) (“the TPS”) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £1,076,688 (2024: £869,485) and at the year-end £134,328 (2024: £91,713) was payable in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by the Teachers’ Pensions Regulations 2010 (as amended) and the Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the

Page 53

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Pensions (continued)

employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report, which was published in October 2023.

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

The valuation confirmed that the employer contribution rate for the TPS would increase from 23.6% to 28.6% from 1 April 2024. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

Independent Schools Pension Scheme

The company participates in the scheme, a multi-employer scheme which provides benefits to some 51 non-associated employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

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

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

A full actuarial valuation for the scheme was carried out with an effective date of 30 September 2023. This actuarial valuation was certified on 11 December 2024 and showed assets of £99.2m, liabilities of £151.5m and a deficit of £52.3m. To eliminate this funding shortfall, the trustees and the participating employers have agreed that additional contributions will be paid, in combination from all employers to the scheme as follows:

Deficit contributions

From 1 September 2025 to 31 January 2034:

£6,000,000 per annum

(payable monthly and increasing by 3% on each 1[st] September)

Page 54

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Pensions (continued)

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2020. This valuation showed assets of £201.1m, liabilities of £256.3m and a deficit of £55.2m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

£2,687,000 per annum From 1 September 2022 to 30 June 2032: (payable monthly and increasing by 3% on each 1[st] September)

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

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit.

The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Contributions are made to the scheme in accordance with the recommendations of the scheme’s actuary. The service contribution rate during the year was 48.6% of pensionable salaries, 25.6% paid by employees and the remaining 23.0% borne by the School. In addition, the School paid contributions totalling £84,000 in respect of the past service deficit.

As the scheme is in deficit and the School has agreed to a deficit funding arrangement, the School recognises a liability for this obligation. The amount recognised of £1,443,286 (2024: £612,286) is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

A reconciliation of the total liability included within creditors is shown below. A total of £159,000 (2024: £81,819) is shown as due in less than 1 year, with the balance shown as due in greater than 1 year.

PRESENT VALUE OF PROVISION

31 August 2025 31 August 2024 31 August 2023 £ £ £ Present value of provision 1,443,286 612,286 635,992

Page 55

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Pensions (continued)

Group and
2025
£
At 1 September
(612,286)
Unwinding of the discount factor (interest expense)
(27,000)
Deficit contribution paid
84,000
Remeasurements – impact of any change in assumptions
(888,000)
Remeasurements – amendments to the contribution schedule
-
At 31 August
(1,443,286)
The amounts recognised in the statement of financial activities are shown below:
Group and
2025
£
Interest expense
27,000
Remeasurements to pension liability
888,000		 Corporation
2024
£
(635,992)
(34,281)
81,819
(23,832)
-
(612,286)
Corporation
2024
£
34,281
23,832
The assumptions used are shown below:
2025 2024 2023
% % %
Rate of discount 4.79 4.68 5.79

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

Defined contribution schemes Independent School Pensions Scheme

Rossall School participates in the Independent Schools’ Pension Scheme Defined Contribution Scheme. Contributions are tiered with two separate options: 3% for the employee and 5.45% for the employer; 6% for the employee and 10.45% for the employer.

From 1 September 2022, the contribution to the ISPS Defined Benefit Scheme increased from 30.5% to 48.6% of salaries. A new tier was set up within the ISPS Defined Contribution scheme for legacy defined benefit members. Contributions for these employees are 7.5% for the employee and 23% for the employer.

Page 56

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Pensions (continued)

The employer’s contributions are charged in the Statement Of Financial Activities in the period in which the salaries to which they relate are due. The employer’s contributions in the year amounted to £270,345 (2024: £259,555). At 31 August, there were no accrued pension contributions for this scheme (2024: £Nil).

Aviva Pension Trust for Independent Schools

Rossall School participates in the Aviva Pension Trust for Independent Schools Defined Contribution Scheme. Contributions are tiered with 4 separate employee options of 0%, 4%, 8% and 10%. In each case the employer contribution is 20%.

The employer’s contributions are charged in the statement of financial Activities in the period in which the salaries to which they relate are due. The employer’s contributions in the year amounted to £297,739 (2024: £325,152). At 31 August, there were no accrued pension contributions for this scheme (2024: £13,903).

Page 57

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

20 Reconciliation of net expenditure to net cash flow from operating activities

Net (expenditure) / income
(Gain)/Loss on investments
Profit on sale of fixed assets
Depreciation
Investment income
Finance costs and interest
Decrease / (increase) in stocks
Decrease / (increase) in debtors
(Decrease) / increase in creditors
Net cash provided by / (used in) operating activities
21
Reconciliation of net cash flow to movement in net funds
(Decrease) / increase in cash
Other movements
Cash outflow / (inflow) from decrease / (increase) in debt
and lease financing
Increase / (decrease) in net funds
Net funds at 31 August 2024
Net funds at 31 August 2025
22
Analysis of net funds
2024
£
Cash and bank balances
Bank Loan
Other debt due within one year
Other debt due after one year
3,977,987
(3,061,244)
(141,676)
(1,040,368)
(265,301)		 Net (expenditure) / income
(Gain)/Loss on investments
Profit on sale of fixed assets
Depreciation
Investment income
Finance costs and interest
Decrease / (increase) in stocks
Decrease / (increase) in debtors
(Decrease) / increase in creditors
Net cash provided by / (used in) operating activities
21
Reconciliation of net cash flow to movement in net funds
(Decrease) / increase in cash
Other movements
Cash outflow / (inflow) from decrease / (increase) in debt
and lease financing
Increase / (decrease) in net funds
Net funds at 31 August 2024
Net funds at 31 August 2025
22
Analysis of net funds
2024
£
Cash and bank balances
Bank Loan
Other debt due within one year
Other debt due after one year
3,977,987
(3,061,244)
(141,676)
(1,040,368)
(265,301)		 2025
2024
£
£
400,174
(604,754)
(12,994)
(13,205)
-
-
762,590
722,009
(407,213)
(272,578)
313,686
341,124
8,607
7,357
231,105
(172,434)
244,101
879,553
1,540,056
887,072
2025
2024
£
£
1,345,590
365,884
7,006
529
928,584
63,456
2,281,180
429,869
(265,301)
(695,170)
2,015,879
(265,301)
Other
Cash flow
movements
2025
£
£
£
1,345,590
134,530
142,588
651,466
-
-
7,006
-
5,323,577
(2,926,714)
7,918
(388,902)
(265,301) 2,274,174
7,006
2,015,879

23 Significant non-cash transactions

Investments as shown in note 12 are managed on behalf of the charity by Cazenove Capital Investment Ltd. Capital transactions do not affect the charity's cash balances and are excluded from the cash flow statement.

Page 58

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

24 Taxation

The Corporation and its subsidiary are registered charities and are exempt from Corporation Tax under the provision of Section 478 of the Corporation Tax Act 2010.

Rossall Enterprises Limited is a trading subsidiary of the Corporation and is liable to Corporation Tax on its taxable profits at the rate applicable to small companies.

25 Analysis of balances by fund

Analysis of balances by fund
Group
Tangible fixed assets
Investments
Stock
Debtors
Cash at bank and in hand
Creditors due within one year
Creditors due after one year
Loan from Trust Fund A to the school		 Unrestricted
Restricted
income
income
Endowment
Total
funds
funds
funds
Funds
2025
2025
2025
2025
£
£
£
£
11,082,650
184,511
-
11,267,161
-
89,460
140,178
229,638
46,669
-
-
46,669
840,065
-
-
840,065
5,267,142
56,435
-
5,323,577
(6,312,933)
(1,308)
(5,134)
(6,319,375)
(5,173,942)
-
-
(5,173,942)
(1,536,152)
195,452
1,340,700
-
4,213,499
524,550
1,475,744
6,213,793

Analysis of balances by fund – previous year

Group
Tangible fixed assets
Investments
Stock
Debtors
Cash at bank and in hand
Creditors due within one year
Creditors due after one year
Loan from Trust Fund A to the school		 Unrestricted
Restricted
income
income
Endowment
Total
funds
funds
funds
Funds
2024
2024
2024
2024
£
£
£
£
11,463,648
13,125
-
11,476,773
-
86,630
130,414
217,044
55,276
-
-
55,276
1,071,170
-
-
1,071,170
3,921,552
56,435
-
3,977,987
(5,720,786)
(1,906)
(1,755)
(5,724,447)
(4,372,184)
-
-
(4,372,184)
(1,536,152)
195,452
1,340,700
-
4,882,524
349,736
1,469,359
6,701,619

Page 59

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

26 Operating lease commitments

Part of the school’s land and buildings are owned by the Endowment Fund (incorporating the Jackson Scholarship Fund) and the Centenary Fund. These are leased to the school at an annual rental of £279,000, with reviews every 5 years. The next review is due in November 2025. The lease expires in November 2030. Additionally, the charity leases six minibuses.

At 31 August 2025 the group therefore had future minimum lease payments under non-cancellable operating leases as set out below:

Amounts due within one year
Amounts due between one and five years
Amounts due after five years		 2025
£
341,996
941,136
351,613
1,634,745		 2024
£
340,897
990,857
643,888
1,975,642

27 Capital commitments

As at 31 August 2025 the Corporation had capital commitments of £87,341 (2024: £341,180)

Page 60

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

28
Related party transactions
Income receivable by the group from associated charities
during the year:
Scholarships:
The Jackson Scholarship Fund (net of parental
contributions)
The Trapnell Fund
Grants for general educational purposes:
The Rossall School Endowment Fund
The Rossall Centenary Fund
The Rossall Foundation
Amounts payable by the group to associated charities
during the year:
Rent:
The Rossall Centenary Fund
The Jackson Scholarship Fund
The Rossall School Endowment Fund
Loan Indexation: The Trapnell Fund
Loan Interest: The Trapnell Fund
Amounts due to/(from) associated charities by the group at
the end of the year:
The Rossall Centenary Fund
The Rossall School Endowment Fund
The Trapnell Fund
The Rossall Foundation
Net assets of associated charities:
The Rossall Centenary Fund
The Rossall School Endowment Fund (incorporating the
Jackson Scholarship Fund)		 2025
2024
£
£
96,080
77,637
110,299
50,231
23,833
23,834
197,036
197,729
70,145
427,248
419,576
175,770
175,770
79,515
79,515
23,715
23,715
279,000
279,000
7,006
7,291
1,622
2,087
287,628
288,378
(2,865)
4,064
640
(640)
213,036
213,788
-
-
210,811
217,212
3,754,710
3,747,570
2,597,906
2,595,110
6,352,616
6,342,680

Additionally, staff costs include total remuneration of £224,263 (2024: £221,097) paid to the spouses of 4 (2024: 6) key management personnel, who were employed and paid under normal terms.

Page 61

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

29 Consolidated statement of financial activities – previous year

Note
Income from:
Donations and legacies
2
Other trading activities
3
Other income - CJRS
Investments
4
Charitable activities
5
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
9&10
Net income /
(expenditure) before
other gains/(losses)
Net gains/(losses) on
investments
12
Net income /
(expenditure)
Transfers between funds
17
Other recognised gains/
(losses):
Remeasurements to
pension liability
19
Net movement in funds
Funds brought forward
Funds carried forward		 Unrestricted
income
funds
Restricted
income
funds
Endowment
funds
2024
Total
2023
Total
£
£
£
£
£
93,797
70,145
-
163,942
88,373
527,239
-
-
527,239
477,594
-
-
-
-
-
263,685
3,574
5,319
272,578
285,827
17,818,034
-
-
17,818,034
16,233,654
18,702,755
73,719
5,319
18,781,793
17,085,448
449.481
-
-
449,481
377,680
18,874,106
75,939
226
18,950,271
17,303,518
19,323,587
75,939
226
19,399,752
17,681,198
(620,832)
(2,220)
5,093
(617,959)
(595,750)
-
5,308
7,897
13,205
(12,520)
(620,832)
3,088
12,990
(604,754)
(608,270)
8,516
(3,423)
(5,093)
-
-
(23,832)
-
-
(23,832)
39,203
(636,148)
(335)
7,897
(628,586)
(569,067)
5,518,672
350,071
1,461,462
7,330,205
7,899,272
4,882,524
349,736
1,469,359
6,701,619
7,330,205

Page 62

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

30 Corporation statement of financial activities – previous year

Unrestricted Restricted
income income 2024 2023
Note funds funds Total Total
Income from: £ £ £ £
Donations and legacies 2 93,797 70,145 163,942 191,202
Investments 4 362,414 - 362,414 356,405
Charitable activities 5 17,825,032 - 17,825,032 16,239,302
Total income 18,281,243 70,145 18,351,388 16,786,909
Expenditure on:
Raising funds 47,488 - 47,488 13,922
Charitable activities 18,957,675 75,787 19,033,462 17,369,496
Total expenditure 9&10 19,005,163 75,787 19,080,950 17,383,418
Net income /(expenditure) (723,920) (5,642) (729,562) (596,509)
Transfers between funds 17 - - - -
Other recognised gains/ (losses):
Remeasurements to pension liability 19 (23,832) - (23,832) 39,203
Net movement in funds (747,752) (5,642) (753,394) (557,306) 5
Funds brought forward 5,508,809 75,202 5,584,011 6,141,317
Funds carried forward 4,761,057 69,560 4,830,617 5,584,011

Page 63

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

31 Income from donations and legacies – previous year

Unrestricted Unrestricted Restricted 2024 2023
income income Total Total
£ £ £ £
Group
Donations and bequests 93,797 70,145 163,942 88,373
Unrestricted Restricted 2024 2023
income income Total Total
£ £ £ £
Corporation
Donations and bequests 93,797 70,145 163,942 88,373
Gift aid from subsidiaries - - - 102,829
93,797 70,145 163,942 191,202
32 Investment income – previous year
Unrestricted Restricted Endowment 2024 2023
income income income Total Total
£ £ £ £ £
Group
Investment income 190,933 3,574 5,319 199,826 234,846
Interest on bank deposits 72,752 - - 72,752 50,981
263,685 3,574 5,319 272,578 285,827
Unrestricted Restricted Endowment 2024 2023
income income income Total Total
£ £ £ £ £
Corporation
Investment income 289,662 - - 289,662 305,424
Interest on bank deposits 72,752 - - 72,752 50,981
362,414 - - 362,414 356,405

Page 64

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

33 Analysis of total expenditure – unrestricted income funds – previous year

Group
Expenditure on raising
funds
Costs of raising funds:
Rossall Foundation
Fundraising trading:
cost of goods sold and other
costs
Expenditure on charitable
activities
Teaching and support staff
Other educational and direct
costs
Welfare costs
Premises maintenance and
running costs
Marketing and agency costs
Finance costs
Bad debts
Office support costs
Governance costs (see
below)
Total expenditure
Governance costs
External audit
Support costs
Totals per above		 Staff costs
Rent,
rates,
insurance
& utilities
Other
costs
Deprecia-
tion
2024
Total
2023
Total
£
£
£
£
£
£
-
-
47,488
-
47,488
13,922
-
-
401,993
-
401,993
363,758
-
-
449,481
-
449,481
377,680
7,354,497
-
-
-
7,354,497
6,779,629
-
-
1,669,626
-
1,669,626
1,571,499
1,574,905
-
780,419
-
2,355,324
2,168,826
688,909
2,281,717
682,203
718,144
4,370,973
3,914,129
401,282
-
1,374,855
-
1,776,137
1,568,981
-
-
341,124
-
341,124
290,292
-
-
27,822
-
27,822
109,890
723,491
-
211,609
-935,100
829,653
10,666
-
32,837
-
43,503
51,957
10,753,750
2,281,717
5,120,495
718,144
18,874,106
17,284,856
10,753,750
2,281,717
5,569,976
718,144
19,323,587
17,662,536
-
-
32,837
-
32,837
33,610
10,666
-
-
-
10,666
18,347
10,666
-
32,837
-
43,503
51,957

Page 65

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

33 Analysis of total expenditure – unrestricted income funds – previous year (continued)

Corporation
Expenditure on raising
funds
Costs of raising funds:
Rossall Foundation
Expenditure on charitable
activities
Teaching and support staff
Other educational and direct
costs
Welfare costs
Premises maintenance and
running costs
Marketing and agency costs
Finance costs
Bad debts
Office support costs
Governance costs (see
below)
Total expenditure
Governance costs
External audit
Support costs
Totals per above		 Staff costs
Rent,
rates,
insurance
& utilities
Other
costs
Deprecia-
tion
2024
Total
2023
Total
£
£
£
£
£
£
-
-
47,488
-
47,488
13,922
7,354,497
-
-
-
7,354,497
6,779,629
-
-
1,669,626
-
1,669,626
1,571,499
1,574,905
-
780,419
-
2,355,324
2,168,826
688,909
2,281,717
682,203
717,187
4,370,016
3,914,129
401,282
-
1,374,855
-
1,776,137
1,568,981
-
-
431,337
-
431,337
361,248
-
-
27,822
-
27,822
109,890
723,491
-
211,609
-
935,100
829,653
10,666
-
27,150
-
37,816
47,357
10,753,750
2,281,717
5,205,021
717,187
18,957,675
17,351,212
10,753,750
2,281,717
5,252,509
717,187
19,005,163
17,365,134
-
-
27,150
-
27,150
29,010
10,666
-
-
-
10,666
18,347
10,666
-
27,150
-
37,816
47,357

Page 66

Docusign Envelope ID: 111C51B0-B953-86E7-839E-7FD41DF5B2B6

THE CORPORATION OF ROSSALL SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

34 Analysis of total expenditure – restricted income funds – previous year

Group
Expenditure on raising
funds
Expenditure on
charitable activities
Investment
management charges
Other educational and
direct costs
Premises maintenance
and running costs
Total expenditure
Corporation
Expenditure on raising
funds
Expenditure on
charitable activities
Other educational and
direct costs
Premises maintenance
and running costs
Total expenditure		 Staff
costs
Rent, rates,
insurance
and
utilities
£
£
-
-
Other
Costs
£
-		 Deprecia-
tion
2024
Total
2023
Total
£
£
£
-
-
-
-
-
-
-
-
-		 152
-
71,922		 -
152
151
-
-
-
3,865
75,787
18,284
-
-		 72,074 3,865
75,939
18,435
-
-		 72,074 3,865
75,939
18,435
Staff
costs
Rent, rates,
insurance
and
utilities
£
£
-
-
Other
Costs
£
-		 Deprecia-
tion
2024
Total
2023
Total
£
£
£
-
-
-
-
-
-
-		 -
71,922		 -
-
-
3,865
75,787
18,284
-
-		 71,922 3,865
75,787
18,284
-
-		 71,922 3,865
75,787
18,284

Page 67