**Charity registration number 527294**
**Company registration number 00612443 (England and Wales)**
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
**ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2025**
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** S Neal - Chair E O Sneath - Vice Chair J White A E Cole J Jeffries T L Wright T Baxter B Fairbrother B Curtis I Crawford R Mayfield (Appointed 12 May 2025) D Roberts (Appointed 6 October 2025) A Clarke Adams (Resigned 2 December 2024) **Company Secretary** E Gibson **Charity number** 527294 **Company number** 00612443 **Registered office** Welland Hall London Road Spalding Lincs PE11 2TE **Auditor** TC Group 1-4 London Road Spalding Lincolnshire PE11 2TA
**AYSCOUGHFEE HALL SCHOOL LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 11|
|Statement of Trustees' responsibilities|12|
|Independent auditor's report|13 - 16|
|Statement of financial activities|17|
|Balance sheet|18 - 19|
|Statement of cash flows|20|
|Notes to the financial statements|21 - 34|
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
The Trustees, who are also the directors of Ayscoughfee Hall School Limited, have pleasure in submitting their annual report, together with the audited financial statements of the Charity for the year ended 31 August 2025.
## **Director/Trustee Responsibilities**
Company law requires us as directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss for that year. In preparing these financial statements we are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and estimates that are reasonable and prudent;
- Prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the company will continue in business.
We are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the company and to enable us to ensure that the financial statements comply with the Companies Act 2006 and the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice. We are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
- There is no relevant audit information of which the company’s auditor is unaware; and
- The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Objectives and activities**
## **Objectives**
The objectives of the charity as detailed in the Memorandum of Association are to develop, extend and carry on the school to provide a liberal and sound education for all pupils.
The aims and values of the school are:
• To ensure each child has the best possible education by giving them personal attention, a happy atmosphere and dedicated staff. The children are expected to work hard, to respect others and to cooperate in the smooth running of the school. Children are encouraged to use their own initiative and take on responsibility as they move through the school. We pride ourselves on producing well-motivated, confident and happy children.
• To educate our children through a broad and balanced curriculum, with a wide range of extra-curricular activities, so that each child can achieve their full potential. When children feel happy and supported, they can grow in self-esteem and confidence and then the sky is the limit! This is achieved via teaching methods that inspire an enthusiasm and love of learning, which in turn will enable a confident move to the next stage of education.
• Throughout the school there is a twofold purpose: to enable the children to learn as much as possible according to their individual abilities, and to be happy in an environment of learning.
In considering their objectives and planning their activities, the Trustees give careful consideration to the Charity Commission’s general guidance on public benefit.
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**AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Activities**
The school meets its charitable aims through the provision and advancement of education and sport. Fees are maintained at a level well below the independent sector average on the principle that the maximum numbers of parents can benefit from an independent education for their children. The major source of income is from school fees and all surplus funds are re-invested in facilities and resources to benefit the education of our pupils or held in reserve for the further development and upkeep of the school.
Class sizes are small, helping to foster the school’s family values and atmosphere and the caring, individual approach which encourages a positive attitude to learning. Highly experienced teachers are supported by welltrained support staff to ensure that all children receive the individual attention they require. The last full inspection (October 2024) judged the school to be meeting all standards in all five areas of the inspection criteria. Pupil attainment was judged to be well above average for their age; throughout the school it was found that 'Teachers' high expectations are combined with lessons that are characterised by engaging content. This encourages pupils to be engaged in their learning, self-motivated and enjoy a challenge.'
Specialist teaching provision is a key objective for the school and includes specialist ICT teaching, languages, music, sports coaching and forest school. The last full inspection report highlighted that 'Pupils are enthusiastic learners, making good and often rapid progress.'
The school offers a wide range of extra-curricular activities organised in lunchtime and after school clubs. Children have opportunities to both develop and enrich existing skills in areas such as sport and ICT or to explore new areas in art, drama and history for example. Extended care provision is also provided by the Kids’ Club which allows parents to leave their children before and after school, safe in the knowledge that they will be well supervised and provided with refreshments when necessary.
The school undertakes a high level of training for its staff to ensure that the curriculum and all round education provided are in line with its main aims and objectives. The comprehensive Development Plan uses forward planning to ensure that improvements can be made year on year.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Public Benefit**
The Trustees carry out an annual audit of public benefit and the matter is constantly under review. In addition to the advancement of education for our own pupils, the school provides wider public benefit in the following ways:
• Community work carried out by pupils, in and out of School.
• The arrangement and hosting of music events for audiences from within the wider community.
• The arrangement and hosting of sports events and tournaments with other schools providing invaluable match experience.
- Providing staff development opportunities and collaborating with teachers from other local cluster schools.
• The letting of the premises to other businesses and charities at a reasonable cost.
- The provision of work experience for students from different schools and colleges, giving them time and encouragement in their studies.
- The maintenance of a magnificent Grade II* listed building for the benefit of the community and which has been restored from the vandalised, neglected state it was in prior to purchase by the school.
- Charitable fundraising.
The school enjoys exceptionally good relationships with parents and the wider community. Volunteers come into school on a regular basis to help with sport, reading, craft-work and school clubs. The PTFA (which is the only other party related to the charity) does a fantastic job in arranging a number of functions to help raise money for the benefit of the school. The School continues to be grateful to the PTFA for the funds it makes available for desirable and useful extras throughout the School and its contribution in arranging social occasions.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Achievements and performance**
## General and academic
Pupil numbers for the year were better than anticipated following the closure of two local independent schools, being our main competition in the area. Pupil numbers increased gradually throughout the year but increases in national minimum wage and employer national insurance took all of the additional income generated.
The last Independent Schools inspection in October 2024 found the school to be meeting all standards within the five areas of inspection and the staff and governors have continued to work towards maintaining these high standards.
Academically, 2024-25 was another extremely successful year, with results once again being excellent. The school achieved a 100% pass rate for children sitting the 11+ secondary selection tests and averaged 93.4% over the last 5 years. The test is designed to have a benchmark pass rate of 25%.
Early Year’s provision for pupils establishes in them a value led ethos which continues through the school and helps motivate them to succeed. The school provides a firm ‘foundation for the future’ with an emphasis on core curriculum subjects for all pupils.
PIRA and PUMA testing for Maths and English reading continues to help us ensure standards remain high and intervention is appropriately placed. The inspection report (October 2024) noted 'Prompt intervention helps pupils 'keep up rather than catch up' and minimises the risk of pupils falling behind.' Our data for reading, writing and maths shows the school to be exceeding expectations both locally and nationally for children reaching age expected or above in those core subjects.
The school provides an excellent extracurricular activities programme, which ensures all pupils are offered a wide range of opportunities and skills to develop over their time at the school, giving children the opportunities to discover, create and engage in the curriculum as well as showing that independence and resilience is important. This has been aided by the continued Forest School sessions for all classes.
The School continues its development of technology with the use of green screen, Chatterpix, Duolingo, Seesaw and Time Tables Rockstars and continues to update and upgrade interactive whiteboards within the classrooms. In addition to this, the school upgraded and increased the number of iPads available for use in the classrooms.
The school strongly promotes environmental awareness and has been awarded the Eco-Schools Green Flag for the past three years. This was certified with distinction, the highest accolade that the organisation can award. In addition to this, we have achieved Plastic Clever Schools Status (Level 3), The Royal Horticultural Society Level 4 Schools Award, The Woodland Trust Silver Award and have received a Highly Commended in the category of Sustainable Schools from the Independent Schools Association (2024).
The school continues to look at ways to improve pupil resilience, with increased emphasis on wellbeing, developed within PSHEE lessons and through school activities. We have achieved the Optimus Education Pupil Wellbeing Award Gold Standard.
The school is committed to promoting equality, diversity and inclusion. We embrace the different cultures and beliefs of our school community and promote these values throughout the school. The children learn French and Spanish and we have achieved a British Council International Schools Award and have links with a partnership school in France.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## Sports and clubs
As well as the more traditional school sports of football, rugby, cricket and netball, the school continued with a wider range including coaching on futsal, hockey and gymnastics. We have a busy timetable of outside fixtures, competing against other schools in the local area and achieving well in sporting results.
## Music and arts
The school continued its variety of peripatetic music provision, including piano, violin, flute, clarinet, drums and vocal lessons. Our junior children are given the opportunity to learn different instruments in each year group and we also have a well-attended school choir, who take part in local events and competitions. We host our Summer Music Concert for parents and families as well as a summer production by our Junior children. The school acts as host for the local schools' annual music festival. The art around the school is of an impressive quality and is always commented on by visitors and parents alike. We continue to enter pieces from across the school into the ISA competitions and achieve a good rate of success with these.
## **Financial review**
Detailed results for the year are shown on the Statement of Financial Activities, page 17.
Financially, the school's results were as expected, following its continued recovery after the pandemic, the introduction of VAT on school fees and higher employer costs imposed during the year. The school generated a negative net movement in funds of £120,854, mainly due to additional income from higher than anticipated pupil numbers, completely offset by an increase in staffing costs. This loss, along with the brought forward accumulated reserves of £1,519,960, has meant that the charity has carried forward reserves of £1,399,106 at the end of the year.
The majority of the charity's reserves remain tied to the school's fixed assets. The Trustees have determined that the appropriate level of free reserves, which are not invested in fixed assets, should be equivalent to at least one school term’s worth of expenditure; approximately £417,000. The school currently has £614,255 invested in a range of bank deposits. These reserves enable the school to meet any unexpected or emergency expenditure or to help offset any decreases in income levels in the current economic environment.
The school is located in a magnificent Georgian Grade ɪɪ* listed building and repairs are inevitable and likely to prove costly, hence the requirement to keep on top of repairs and to hold a strong level of reserves.
The Governing Body is very aware of the current economic environment since the introduction of VAT on school fees. Combined with other significant changes imposed by the Labour Government, the School is aware that we may not have seen the full impact of the implementation of VAT. With this in mind, the Board made the decision that there would be no fee increases in September 2025 and advised parents of this in the Autumn 2024 term. Although the reported loss for 2024-25 is the largest the school has seen, we promised parents that we would support the fee increase freeze. This was an important commercial decision which gave parents peace of mind and, to date, has enabled us to retain the majority of our pupils and also attract pupils from other independent and state schools.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Plans for the future**
The school will continue to capitalise on its impressive inspection results through its marketing and promotional activities.
The School continually updates its forecast financial projections and has tight control over its expenses with the objective of protecting, then growing, its year end reserves. The School closely monitors its cash flows to ensure that it remains a going concern.
Over the next year, the school will be looking to continue the increase in its pupil roll and make gradual further improvements where appropriate. It is well placed to do so with a strong financial platform, healthy pupil registrations and a team of highly motivated and experienced teaching and support staff.
The school will continue to invest in its staff through training and development and forward planning in the knowledge that it is great teaching that inspires children to want to learn and give of their best.
## **Going Concern**
After review of the evidence, the Board has a reasonable expectation that the company will be able to continue operating for the foreseeable future and the financial statements have been prepared on a going concern basis.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Structure, governance and management**
## **Governing document**
Ayscoughfee Hall School was founded in 1920. It was incorporated as a company limited by guarantee on 22 September 1958 (company number 00612443). The company has charitable status and its registered number is 527294.
The Governors are both Trustees of the Charity and Directors of the Company. Their liability is limited to £1.
The charitable company is governed by its memorandum and articles of association. The principal address and registered office is Welland Hall, London Road, Spalding, PE11 2TE.
## **Appointment and training of Governors**
Governors are recruited on the basis of nominations and serve for a period of three years before being due for re-election. The Governing Body carries out a regular audit to ensure it has the right mix of skills to enable it to carry out its responsibilities effectively. The current Governors include experience/background in education, business management, chartered surveying, accounting, construction, marketing and human relations. All Governors give their time voluntarily and receive no benefits from the charity.
The school has a written policy for the induction and training of new Governors which is implemented with the support of the Head, Bursar and other experienced Governors. The school encourages Governors to attend training events arranged for the school staff where applicable.
## **Effectiveness of governance**
The school was last inspected by the Independent Schools Inspectorate in October 2024. This regulatory compliance and educational quality inspection was very thorough and involved three inspectors looking closely at all procedures across the school, including effectiveness of governance. They reported that the school met all of the standards in the Schedule of Education and no actions were required as a result of their inspection.
The school is fortunate in having very experienced and dedicated Governors.
The full Governing body meets twice per term (six times yearly). Specific responsibilities are also allocated to permanent sub-committees (Curriculum, Staffing, Finance, Marketing, Buildings and Sustainability & Wellbeing) which meet at least termly. The Sustainability & Wellbeing committee has made good progress in considering all areas of sustainability, many of which have fed into the other sub-committees. The sub-committees all have clear terms of reference. Other sub-committees and working parties are set up on a needs basis.
Each Governor takes responsibility for a curriculum subject area working closely with the subject coordinator in the school and hence taking an active role in supporting school life. Governors also undertake “learning walks” around the school, enabling them to monitor the school’s life and work effectively.
## **Management**
The day-to-day operational management of the school is undertaken by the Senior Management Team, comprising of the Headteacher, Deputy Headteacher, Senior Teacher and Bursar. All four members of this team attend the full Governing Board meetings and are involved in the various sub-committees. They work very closely with the Governors, formulating and monitoring development plans and reporting progress.
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**AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Risk Management**
Governors assess the risks faced by the school on a regular basis, when agreeing and reviewing development plans and when setting budgets. The school has a comprehensive set of written policies which are kept up to date. There are a variety of processes and controls which are regularly reviewed and are in place to mitigate any risks such as, for example:
## Financial
- The setting and continual monitoring of annual budgets.
- Contingency in annual budget for unforeseen expenditure.
- Clear policies and authorisation limits.
• Maintained cash reserves equal to at least one term's expenditure in line with ISA recommendations and built up further to ensure the long term sustainability of the school during economic downturn.
• The development of a 5-year financial plan, which enables the Governing Body to assess various scenarios related to potential changes in the economic, political and tax environments, affecting pupil numbers and running costs. This highlights awareness within the Governing Body and provides a useful tool, with the potential for planning to mitigate future risks.
## Welfare
- Robust Health and Safety policy and risk assessment process.
• Our rigorous safeguarding processes include the use of the My Concern package, which enables us to track and monitor safeguarding procedures across the school. We have a robust system for the filtering and monitoring of all online activity using the Senso and Securly software.
## Buildings
- Comprehensive maintenance and development plan regularly reviewed.
- Accumulating additional reserves to cover unforeseen repairs.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Organisational Management**
The School’s governors are legally responsible for the overall management and control of the School. The full governing body meets at least six times a year, and is chaired by Sam Neal, Chairman. The governing body is responsible for determining the aims, strategy and overall conduct of the School and is accountable for the discharge of its responsibilities to pupils, parents and staff. The work of implementing the policies is carried out by a series of committees:
## • Finance Committee
This committee meets three times a year, once in each term. Its main roles are: to consider, monitor, challenge and recommend the annual budgets and fee increases to the board; to monitor and direct in-year expenditure; authorise capital expenditure and scrutinise the financial statements and recommend them to the governing body. The committee also has the responsibility for appointing and appraising the performance of the external auditor.
## • Staffing Committee
This committee meets three times a year, once in each term. Its main role is to scrutinise, monitor, challenge and endorse proposals for the staffing and remuneration of all staff and monitor and advise on the School’s human resource function.
## • Curriculum Committee
This committee meets three times a year, once in each term. Its main objective is to scrutinise, challenge, support and monitor the School’s educational aims and help develop new and appropriate ones.
## • Buildings Committee
This committee meets three times a year, once in each term. Its main objective is to consider, scrutinise, challenge and support all aspects of health, safety and maintenance in relation to the buildings of the School and support and advise on capital expenditure building projects.
## • Marketing Committee
This committee meets three times a year, once in each term. Its main objective is to consider, scrutinise, challenge and support all aspects of marketing and to research new ways of attracting prospective parents.
## • Sustainability & Wellbeing Committee
This committee meets three times a year, once in each term. Its main objective is to consider both the school’s commitment to becoming more ecologically aware and to support the school in planning for a sustainable future, across multiple areas including school buildings and environment, wellbeing of school pupils, parents and staff, staff support and training and forward financial planning. The work of this committee feeds into the other Committees, the School Development Plan and also the 5-year plan, which is continually updated and allows the board to make informed decisions.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
The running of the School is delegated to the Headteacher, supported by the other members of the Senior Management Team who are the Deputy Headteacher, Senior Teacher and Bursar, who is also the Company Secretary. The Headteacher reports directly to the governors, as does the Bursar through the Headteacher, but with direct access for matters relating to the role of Company Secretary. The Headteacher attends all meetings and committees of the governors, and members of the Senior Management Team attend meetings according to their responsibilities and at the direction of the Headteacher and Company Secretary.
With regard to remuneration, governors agree the Headteacher’s salary and the Headteacher agrees the Senior Management Team salaries in consultation with the governors.
## **Employees**
The school has a rigorous recruitment policy and sets it remuneration at a level which awards the school an extremely high level of staff retention. The school also offers work experience opportunities to pupils of the local secondary schools.
Staff attend regular meetings to discuss current whole school issues, where they are encouraged to have a voice and participate. They are regularly updated on the current developments of the school, including contribution towards the School Development Plan.
## **Auditor**
TC Group, having expressed their willingness to continue in office, will be deemed reappointed for the next financial year.
## **Exemption statement**
The report of the council members has been prepared taking advantage of the small company exemption of section 415A of the Companies Act 2006.
The Trustees' report was approved by the Board of Trustees.
## **S Neal**
Chairman Dated: 23 March 2026
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
The Trustees, who are also the directors of Ayscoughfee Hall School Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law 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, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF AYSCOUGHFEE HALL SCHOOL LIMITED**
## **Opinion**
We have audited the financial statements of Ayscoughfee Hall School Limited (the ‘charity’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and 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).
## In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the 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 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 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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**AYSCOUGHFEE HALL SCHOOL LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
## **TO THE TRUSTEES OF AYSCOUGHFEE HALL SCHOOL LIMITED**
## **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:
- the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, 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 charity’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 charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
The objectives of our audit, in respect of fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. however, the primary responsibility for the prevention and detection of fraud rests with those charged with governance of the entity and its management.
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## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
## **TO THE TRUSTEES OF AYSCOUGHFEE HALL SCHOOL LIMITED**
## Our approach was as follows:
• We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;
• We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;
• We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;
• We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;
• We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// 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 company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
- 15 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
## **TO THE TRUSTEES OF AYSCOUGHFEE HALL SCHOOL LIMITED**
**Josh Rowbottom (Senior Statutory Auditor) for and on behalf of TC Group** 27 April 2026 **Chartered Accountants Statutory Auditor** 1-4 London Road Spalding Lincolnshire PE11 2TA
TC Group 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.
- 16 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**Income and endowments from:**||||
|Donations and legacies|**3**|4,338|6,463|
|Charitable activities|**4**|1,112,962|1,167,318|
|Investments|**5**|12,981|11,672|
|Other income|**6**|1,116|2,500|
|**Total income**||1,131,397|1,187,953|
|**Expenditure on:**||||
|Charitable activities|**7**|1,252,251|1,177,696|
|**Total expenditure**||1,252,251|1,177,696|
|**Net income/(expenditure) and movement in funds**||(120,854)|10,257|
|**Reconciliation of funds:**||||
|Fund balances at 1 September 2024||1,519,960|1,509,703|
|**Fund balances at 31 August 2025**||1,399,106|1,519,960|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 17 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Stocks
**13**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**17**
**Net assets**
**Income funds**
Unrestricted funds|**2025**
**£**
**£**
1,367,345
10,014
368,494
614,255
992,763
(549,560)
443,203
1,810,548
(411,442)
1,399,106
1,399,106
1,399,106|**2024**
**£**
**£**
1,404,226
-
26,959
916,589
943,548
(399,283)
544,265
1,948,491
(428,531)
1,519,960
1,519,960
1,519,960|
|---|---|---|
- 18 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **BALANCE SHEET (CONTINUED)**
## _**AS AT 31 AUGUST 2025**_
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025, although an audit has been carried out under section 144 of the Charities Act 2011.
The Directors' acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 23 March 2026
S Neal
## **Chair**
## **Company Registration No. 00612443**
- 19 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash used in investing activities**
**Financing activities**
Repayment of bank loans
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2025**
**£**
**£**
(279,220)
(19,571)
12,981
(6,590)
(16,524)
(16,524)
(302,334)
916,589
614,255|**2024**
**£**
(27,683)
11,672
(15,978)|**£**
307,181
(16,011)
(15,978)
275,192
641,397
916,589|
|---|---|---|---|
- 20 -
**AYSCOUGHFEE HALL SCHOOL LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS**
_**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **1 Accounting policies**
## **Charity information**
Ayscoughfee Hall School Limited is a registered charity and private company limited by guarantee incorporated in England and Wales. The registered office is Welland Hall, London Road, Spalding, Lincs, PE11 2TE.
The nature of the charity's operations and principal activities is to provide all the necessary accommodation and equipment for pupils and staff in order to carry out the objectives of providing a liberal and sound education for pupils of both sexes aged between 3 and 11. It also aims to continue the improvement of the education of as many children as possible by keeping its fees at the lowest practicable level.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
- 21 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **1 Accounting policies**
**(Continued)**
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Investment income is accounted for in the period in which the charity is entitled to receipt.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
|Land and buildings|Buildings - Straight line over 50 years|
|---|---|
|Fixtures and fittings|20% per annum on cost|
|Freehold extension|Straight line over 50 years|
|Land|No depreciation|
|Infant block refurbishment|20% per annum on cost|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
- 22 -
_**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **1 Accounting policies**
## **(Continued)**
## **1.8 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
- 23 -
**AYSCOUGHFEE HALL SCHOOL LIMITED**
_**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **1 Accounting policies**
**(Continued)**
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.11 Taxation**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **1.12 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.13 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees 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 estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
## Estimation of useful Life:
The useful economic life used to depreciate tangible fixed assets relates to the expected future performance of the assets acquired and management's estimate of the period over which economic benefit will be derived from the asset.
## Cut-Off:
The only estimation applied by the Trustees was in the consideration of cut-off where an estimation of the income or costs relating to the relevant period were applied when relating to a different period.
Details for both these items are included within the accounting policies.
- 24 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **3 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Donations and gifts|4,338|6,463|
## **4 Charitable activities**
|School fees
Registration
fees
Teaching
support
School
discounts
Early years
funding
Kids club
income
Toddler
group
income
Other
school
income
Rental income
Income from
school lunches
EHCP funding|**Sales**
**2025**
**£**
985,287
9,417
5,369
(11,005)
57,478
26,918
256
-
10,660
-
14,063
1,098,443|**Accident**
**insurance**
**2025**
**£**
-
-
-
-
-
-
-
(1,342)
-
-
-
(1,342)|**Milk**
**2025**
**£**
-
-
-
-
-
-
-
2,067
-
-
-
2,067|**Sport**
**2025**
**£**
-
-
-
-
-
-
-
11,827
-
-
-
11,827|**Shop sales**
**2025**
**£**
-
-
-
-
-
-
-
1,967
-
-
-
1,967|**Total**
**2025**
**£**
985,287
9,417
5,369
(11,005)
57,478
26,918
256
14,519
10,660
-
14,063
1,112,962|**Total**
**2024**
**£**
1,046,044
15,991
-
(5,611)
69,648
24,814
1,593
9,326
5,070
443
-
1,167,318|
|---|---|---|---|---|---|---|---|
- 25 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**4**
**Charitable**
**activities**
**For the year ended 31 August 2024**
**Sales**
**£**
School fees
1,046,044
Registration fees
13,750
School discounts
(5,611)
Nursery grant income
69,648
Kids club income
24,814
School fund income
-
Income from school lunches
443
1,149,088
Analysis by fund
Unrestricted funds
1,149,088
**5**
**Investments**
Bank interest received
**6**
**Other income**
Other income|**Accident**
**insurance**
**£**
(1,493)
-
-
-
-
-
-
(1,493)
(1,493)|**Milk**
**£**
1,351
-
-
-
-
-
-
1,351
1,351|**(Continued)**
**Sport**
**Shop sales**
**Total**
**2024**
**£**
**£**
**£**
9,152
316
1,055,370
-
2,241
15,991
-
-
(5,611)
-
-
69,648
1,593
-
26,407
-
5,070
5,070
-
-
443
10,745
7,627
1,167,318
10,745
7,627
1,167,318
**Unrestricted** Unrestricted
**funds**
funds
**2025**
2024
**£**
£
12,981
11,672
**Unrestricted** Unrestricted
**funds**
funds
**2025**
2024
**£**
£
1,116
2,500|
|---|---|---|---|
- 26 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **7 Charitable activities**
|**Charitable**
**Expenditure**
**2025**
**£**
Staff costs
848,831
Depreciation and
impairment
56,424
ISA/ISI costs
5,103
Kids club expenditure
63
Class materials
6,482
School books and
magazines
29,794
Computer costs
11,920
Prizes and donations
1,378
Staff training costs
4,830
Insurance
16,597
Other school expenditure
-
Hot lunch expenditure
1,734
Kids club salaries
18,761
Minibus
1,658
1,003,575
Share of support costs (see
note 8)
236,035
1,239,610|**Milk**
**2025**
**£**
-
-
-
-
-
-
-
-
-
-
1,912
-
-
-
1,912
-
1,912|**Sport**
**Shop stock**
**2025**
**2025**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,950
2,779
-
-
-
-
-
-
7,950
2,779
-
-
7,950
2,779|**Total**
**2025**
**£**
848,831
56,424
5,103
63
6,482
29,794
11,920
1,378
4,830
16,597
12,641
1,734
18,761
1,658
1,016,216
236,035
1,252,251|**Total**
**2024**
**£**
807,625
53,574
4,675
19
9,785
24,233
10,301
2,179
6,174
16,339
9,846
2,184
12,453
-|
|---|---|---|---|---|
|||||959,387
218,309|
|||||1,177,696|
- 27 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**7**
**Charitable activities**
**For the year ended 31 August 2024**
**Charitable**
**Expenditure**
**£**
Staff costs
807,625
Depreciation and impairment
53,574
ISA/ISI costs
4,675
Class materials
9,785
School books and magazines
24,233
Computer costs
10,301
Prizes and donations
2,179
Staff training costs
6,174
Insurance
16,339
Other school expenditure
-
Hot lunch expenditure
2,184
Kids club salaries
12,453
Kids club expenditure
19
949,541
Share of support costs (see note 8)
218,309
1,167,850
**Analysis by fund**
Unrestricted funds
1,167,850|**Milk**
**£**
-
-
-
-
-
-
-
-
-
2,014
-
-
-
2,014
-
2,014
2,014|**(Continued)**
**Sport**
**Shop stock**
**Total**
**2024**
**£**
**£**
**£**
-
-
807,625
-
-
53,574
-
-
4,675
-
-
9,785
-
-
24,233
-
-
10,301
-
-
2,179
-
-
6,174
-
-
16,339
7,674
158
9,846
-
-
2,184
-
-
12,453
-
-
19
7,674
158
959,387
-
-
218,309
7,674
158
1,177,696
7,674
158
1,177,696|**(Continued)**
**Sport**
**Shop stock**
**Total**
**2024**
**£**
**£**
**£**
-
-
807,625
-
-
53,574
-
-
4,675
-
-
9,785
-
-
24,233
-
-
10,301
-
-
2,179
-
-
6,174
-
-
16,339
7,674
158
9,846
-
-
2,184
-
-
12,453
-
-
19
7,674
158
959,387
-
-
218,309
7,674
158
1,177,696
7,674
158
1,177,696|
|---|---|---|---|
||||959,387
218,309|
||||1,177,696|
||||1,177,696|
- 28 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**8**
**Support costs**
Miscellaneous expenses
Admin staff cost
Rates
Office costs
Licences and
subscriptions
Printing, stationery and
advertising
Payroll charge
Repairs and renewals
School cleaning
Bank charges
Loan interest paid
Bad debts
Audit fees
Accountancy
Legal and professional
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
4,352
-
110,262
-
25,700
-
23,997
-
5,289
-
20,812
-
1,440
-
11,664
-
5,442
-
(280)
-
14,742
-
-
-
-
3,000
-
1,285
-
8,330
223,420
12,615
223,420
12,615|**2025**
**£**
4,352
110,262
25,700
23,997
5,289
20,812
1,440
11,664
5,442
(280)
14,742
-
3,000
1,285
8,330
236,035
236,035|Support
costs
Governance
costs
£
£
3,222
-
98,152
-
10,867
-
37,188
-
3,062
-
10,759
-
2,512
-
17,494
-
6,673
-
832
-
15,288
-
747
-
-
3,000
-
1,070
-
7,443
206,796
11,513
206,796
11,513|2024
£
3,222
98,152
10,867
37,188
3,062
10,759
2,512
17,494
6,673
832
15,288
747
3,000
1,070
7,443|
|---|---|---|---|---|
|||||218,309|
|||||218,309|
Governance costs includes payments to the auditors of £3,000 (2024- £3,000) for audit fees.
|**9**|**Net movement in funds**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the audit of the charity's financial statements|3,000|3,000|
||Depreciation of owned tangible fixed assets|56,424|53,574|
- 29 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **10 Trustees**
The trustees neither received nor waived any remuneration during the year in their capacity as a Trustee (2024: £nil)
Julia White, Jacqueline Jeffries and Theresa Wright, Trustees of the charitable company, however, did receive remuneration in their capacity as an employee, as detailed in the related party note 22.
## **11 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs
Admin staff costs|**2025**
**Number**
28
**2025**
**£**
530,158
187,086
131,587
99,039
947,870|**2024**
**Number**
29|
|---|---|---|
|||**2024**
**£**
525,688
165,745
116,192
93,146|
|||900,771|
- 30 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**12**
**Tangible fixed assets**
**Land and**
**buildings**
**£**
**Cost**
At 1 September 2024
341,341
Additions
-
At 31 August 2025
341,341
**Depreciation and**
**impairment**
At 1 September 2024
136,541
Depreciation charged in
the year
4,897
At 31 August 2025
141,438
**Carrying amount**
At 31 August 2025
199,903
At 31 August 2024
204,799
**13**
**Stocks**
Finished goods and goods for resale
**14**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**Fixtures and**
**fittings**
**£**
411,739
19,571
431,310
362,546
19,449
381,995
49,315
49,222|**Freehold**
**extension**
**£**
888,353
-
888,353
372,302
17,765
390,067
498,286
516,051|**Land**
**£**
3,211
-
3,211
-
-
-
3,211
3,211|**Infant block**
**refurbishment**
**£**
715,648
-
715,648
84,705
14,313
99,018
616,630
630,943
**2025**
**£**
10,014
**2025**
**£**
344,852
4,656
18,986
368,494|**Total**
**£**
2,360,292
19,571|
|---|---|---|---|---|---|
||||||2,379,863|
||||||956,094
56,424|
||||||1,012,518|
||||||1,367,345|
||||||1,404,226|
||||||**2024**
**£**
-|
||||||**2024**
**£**
17,992
2,265
6,702|
||||||26,959|
- 31 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **15 Loans and overdrafts**
|Bank loans
Payable within one year
Payable after one year|**2025**
**£**
428,531
17,089
411,442|**2024**
**£**
445,055|
|---|---|---|
|||16,524
428,531|
The long-term loans are secured by fixed charges over freehold land and buildings at Welland Hall, London Road, Spalding.
## **16 Creditors: amounts falling due within one year**
|**16**
**Creditors: amounts falling due within one year**|||
|---|---|---|
|**Notes**
Bank loans
**15**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
**17**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**15**
**18**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2025**
**£**
17,089
72,088
40,011
407,052
13,320
549,560
**2025**
**£**
411,442
**2025**
**£**
131,587|**2024**
**£**
16,524
(433)
18,820
364,372
-|
|||399,283|
|||**2024**
**£**
428,531|
|||**2024**
**£**
116,192|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 32 -
## **AYSCOUGHFEE HALL SCHOOL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **19 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At 1**
**September**
**2024**
**£**
General funds
1,519,960
**Previous year:**
**At 1**
**September**
**2023**
**£**
General funds
1,509,703|**Incoming**
**resources**
**Resources**
**expended**
**At**
**£**
**£**
1,131,397
(1,252,251)
**Incoming**
**resources**
**Resources**
**expended**
**At**
**£**
**£**
1,187,953
(1,177,696)|**31 August**
**2025**
**£**
1,399,106|
|---|---|---|
|||**31 August**
**2024**
**£**
1,519,960|
## **20** Operating lease commitments
## **Lessee**
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years|**2025**
**£**
9,009
16,978
25,987|**2024**
**£**
-
-|
|---|---|---|
|||-|
## **21 Events after the reporting date**
Following the 2024 general election, the government announced that private school fees would be charged VAT at the standard rate of 20% from 1 January 2025. The school is aware that we may not have seen the full impact of this decision and as such has chosen not to increase fee's in September 2025.
- 33 -
**AYSCOUGHFEE HALL SCHOOL LIMITED**
_**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **22 Related party transactions**
Three Trustees received remuneration and employer pension contributions during the year and in the prior year for their teaching positions at the School. Due to the sensitivity of this information the Trustees have not disclosed these details within the financial statements. This allows the charitable entity to maintain confidentiality and data protection while still providing a true and fair view of its financial position. Authorisation for the remuneration of these individual was given by the Board of Trustees and is felt to reflect the market value salary in line with each position.
- 34 -