Highclare School
IA company limited by guarantee)
Govemors, Report and Consolidated Financial Statements
for the Year Ended 31 August 2025
Registered number.. 1074596 (England & Wales)
Registered charity nUrn￿r.. 528940

Highclare School
Financial Ststements
For the Year Ended 31 August 2025
Contents
Pages
Governors and General Information
Strategic Report
Governors, Report
Independent Audilorfs Report
10-13
Consolidated Statement of Financial Activities
14
Consolidated Balance Sheet
Company Balance Sheet
16
Consolidated Sialemenl of Cash Flows
17
Notes lo the Consolidated Financial StslenEnls
18-32

Highclare School
Governors and General Information
Governors:
J A Barrett (Presidenll
Mrs L E Flowith (Chairman)
J R Blain ACA
Mrs P A Mayall
A l Hazel
Mrs S D Walson
A B Davison
Mrs A Moore
Head:
Miss F Smith. Bsc Hons (Brunell, PGCE, FRSA
Educational
establishments..
Highclare Preparaloiy School. Woodfield
Pie-Preparalory and Preparatory
241 Birmingham Road
Wylde Green
Sutton Coldfield
West Midlands
B72 1EA
Highclare Preparatory School". St. Paul's
Pre-Preparalory and Preparatory
88 Lichfield Road
Sutton Coldfield
Wesl Midlands
B712SY
Highclare.. The Abbey
Senior School and Sixth Form
10 Sutton Road
Erdington
Birmingham
B23 6QL
Registered office:
241 Birmingham Road
Vvylde Green
Sutton Coldfield
Wesl Midlands
B72 1EA
Bankers:
HSBC Bank PIC
The Bridge
Walsall
WSI 1LN
Audltors:
Malcolm Piper & Company Limited
Kingsnorth House
Blenheim Way
Kingslanding
Birmingham
B44 8LS
Senior managemont
personnel..
Miss F Smith
Mrs S Cassell
Mrs P Bennell (Resigned 31 December 20241
Mrs M P A McGoldrick
Mr M Coles
Mrs J Griffilhs
Mrs H Good (Stood down 1 September 2024)
Charity number..
528940
Company number:
1074596
Page 1

Highclare School
Strategic Report
Objectlves and Activities
The principal activity of the GroLJP remains the provision of tuition and general education facilities lo
pupils between two and eighteen years
The objectives of the Charity are..
lal
To promote and provide for the advancement of education and training and in connection
therewith to conduct, carry on, acquire and develop in the United Kingdom or elsewhere any
boarding or day school or schools for the education of children and young people..
Ibl
To provide facilities in the interest of social welfare fof the recreation and leisure lime occupation
for children and young people with the object of improving their conditions of life.
For over 90 years. Highclare has been pursuing its policy of encouraging pupils lo achieve their full
potential within a stimulating academic environment and to pursue excellence. The Highclare
philosophy goes much further than educational excellence." we endeavour lo work with both pupils and
parents lo equip our pupils lo cope with the pressures of modern society. These skills are encapsulated
in 'The Highclare Difference,
The School's focus continues lo be on achievement of academic performance by a learning curriculum
that is broad and balanced and kept constantly under review, the widening of access to the education
provided by the School. enhancing the use of technology in leaching and improving the School's
facililies and their access by the local comrnunily. Over the peric*, there was once again extensive
refurbishment lo continue the rolling programme of essential upgrading of the internal and external
infraslruclure of all school buildings, Including external and Internal refurbishment and de¢oralion at our
three school locations.
Rgcruitment and Tralnlng of Governors
Governors are familiar with the aims, objectives and practical operation of the School, often either by being
parents or grandparents of pupils who are currently being educated at the School or hav1ng had pupils
attend the School in the past or by virtue of possessing skills which are of specific benefit lo the Board of
of Governors New Governors are appointed by the Board of Governors and elected al an Annual General
Meeting following completion of 12 months of service
Additionally. new Governors are provided with a copy of the lalesl financial statements and
Memorandum and Articles ofAssocialion as well as a copy of the Charity Commission's guidance. 'The
Essential Trustee. What you need lo know, what you neecl lo do,.
Governors undertake training as and when required appropriate to their specific neecjs and responsibilib'es.
We have slrenglhened our processes with regards to safeguarding training this year.
The Governors determine the strategy and general polic1es of the School and meet as a Board at least
10 times a year. The implemenlalion of the slralegy together with the day-to-day management of the
School is delegated to the Head and the Senior Leadership Team.
Group Structure and Relationships
As reported in the financial statements last year and as delaiSed in note 13 to these financial slalemenls,
a simplification ol the group strijcture was legally and formally completed on 3 October 2024. which
transferred all assets ol the subsidiary undertakings lo the School As the subsioliary undertakings no
longer served any purpose. applications lo strike the off were submitted lo Companies House.
Page 2

Highclare School
Strategic Report
Leadership and Management
Suzanne Cassell became the Designated Safeguarding Lead IDSLI for the School in September 2024
and in January 2025, Joanna Griffilhs look up her new role as Head of Highclare Preparatory School.
These two Internal appointments also resulted in the Senior Leadership Team ISL Tl being ￿duced lo
5 permanent positions (Head, Head ol Preparatory School, 2 x Senior School Deputy Heads and
Business Manager), with Associate Deputy and Assistant Heads joining the Extended SLT once per
half term.
Achievements and Performance
The School entered both the ISA Awards and the Independent Schools of the Year Awards in Summer
Term 2025, being shortlisled as a linalisl in the category for Marketing Communication lor Independent
Schools of the Year Awards.
The Independent Schools. Inspeclorale IISII carried out a focussed compliance and educational quality
inspection ln April 2023 Their judgements were..
'The quality of pupils, academic and other achievements is excellent.
'Pupils throughout the school display strongly posikn've altitudes lo learning. both independenuy
and collaboratively.
'Prep school pupils demonslrale excellent study skills.
'The quality of the pupils. personal development Is excellent."
'Pupils deeply respect and value diversity within their school and show a keen appreciation of their
own and other cultures.
'Pupils throughout the school demonstrate excellent self-knowledge, self-discipline and resilience
in all aspects of their school lives.
'Pupils' moral understanding is highly developed and they maturely take responsibility for their own
behaviour..
11 is anlicipaled that the next ISI Inspection will lake pla￿ in Spring of 2026 and preparation for this
began in the current academic year.
Academic achievement is a matter of record, with our pupils winning places at top independent and
maintained grammar schools al 11 + and gaining their Choi￿ of university or apprenticeship after the
Sixth Form.
Academic results during the year were once again very good with a 980/0 pass rate at 'A' Level", and
659/0 passes al A. C grades lincluding EPQI. AI GCSE, 720/0 of the candidates achieving grades 9 10
4 IA. lo C equivalenll in five or more subjects. 170/0 of grades were g 10 7 and 740/0 of pupils achieved
a grade 4 or higher in Maths and English. These grades were achieved alongside taking part in a full
extra-curricular limelable", in keeping with the Highclare ethos of educating the whole person. Thè
strength of leaching, processes and the dedication and continued hard work and application from staff
and pupils placed us firmly amongst the lop independent schools in the region.
Page 3

Highclare School
Strategic Report Icontinued)
Achievements and Perforrnancg Icontinugdl
Academic 'value added,, using the CEM Cenlre's Yellis measures. continues lo be Indicative ol the
good progress that the pupils make. This year's average residual is -0.14 which is similar lo last year
and indicates candidates have achieved expected progress.
The curriculum was reviewed across both The Preparatory School and Senior School. A new
Preparatory School English curriculum was introduced focused on dynamic and chall?nging loxls. Staff
were supported by an internal English consultant lo prepare and deliver the new curriculum lo the
highest standards and parent workshops were also held. The new KS3'super-curriculum' was finalised
with Heads of Department for irnplantalion from September 2025. Both these inilialives lie Into our'The
Highclare Difference, branding.
Throughout the year both the Senior and Preparatory Schools continued lo provide a vast range of co-
curricular and extra-curricular activity. Highclare School is dedicated to educating the whole person and
allowing them lo fulfil Iheii potential in so many ways through sport, music, drama. the Duke of
Edinburgh Award scheme and the many activities and Inps both local and abroad offered lo pupils,
Including in October 2024, 3 trip to Thailand. These activities complement the learning through the
curriculum and enrich personal development. This is what Highclare School is all about. giving the
opporlunilies to pupils lo learn important skills such as leadership, time management. teamwork,
persistence and to grow in both self-confidence and self-assurance.
In the Senior School, extra-curricular clubs before school, at lunch and after school continued lo play a
huge part in the development ol our pupils. Clubs included". football. netball. table tennis. choir. rock
band, current affairs, 'woof Wednesday,, board games. drama, chess and science. Highclare Sports
Field continues to be used weekly in the double lessons, primarily for football and for cricket, making
use of the Aslrolurf wicket. The pupils in U31L4 continued lo have a weekly swimming lesson al
Erdington Le1SLJre Cenlre, which is a fantastic opportunity for their development. The School won the
Society of Heads U16 Football Tournament," the final taking place in May 2025.
Prep School sport is enhanced via the extra-curricular clubs before school, al lunchtime and after
school. Clubs inclLJded football. netball. hockey. basketball, ballet, tennis. mulli-sports and dancing.
Highclare Sports Field continues lo be used by the Prep School 4 times a week and they also share
facilities at the Senior School or across Prep School siles. Swimming is laughl weekly for pupils in
Reception, Year 1 and Year 2 and then on a half lermly basis for pupils in Years 3 10 6. Fixtures lake
place for all pupils throughout the school (Year 1 upwards) In all sports such as swimming, Iri-golf and
hockey. Last year we played approximately 65 fixtures against other schools. These were both
competitive and friendly.
The Duke of Edinburgh's Award Scheme. which was established al Highclare School in 2013, continues
lo flourish. The awards involve a wide range of activities including sport, expeditions and volunleeiing,
all of which the pupils have to organise loi themselves. This demands a great deal ol personal Input
along with the tremendous support from the leaching staff involved, who also give up their free lime to
supervise the expeditions and manage the programme. This year saw 11 pupils sign up for Bronze and
g for Silver, with 15 pupils completing the Bronze Award and 4 completing the Silver Award (signed up
in previous years).
Music and drama continue to play an extremely important part in school life. Many events look place
and many of the pupils maintained their progress via the interaction with the numerous visiting music
teachers who continue lo do so much valuable work. The London Academy of Music and Dramatic Arts
I LAMDA") is an extremely popular extra-curricular activity. which allows pupils lo grow in confidence
and develop their Individuality. This has continued to flourish and, once again, many pupiSs look exams
during the year with almost all results being graded as Merit or Distinction.
Page 4

Highclare School
Strat8gic Report (continued)
Achievements and Performance Icontinuedl
We continue lo enter external competitions, including the annual ISA Art competition. Alhough there
were no winning entries this year, the standard continues lo be high.
The Preparatory School continues to promote the ongoing and 811-round development of all pupils in a
nurturing and caring environment.
The Govemors offer their congratulations to the pupils who participated in these achievements and
thank the teachers and parents for their commitment and support.
Pastoral care continues lo be a strength of the School with comprehensive policies on Personal, Social,
Health and Citizenship Education IPSHCEI, Social, Moral, Spiritual and Cultural aspects of Learning
ISMSCI and careers guidance, together with an outstanding tutor system. School continues lo work
within the regulatory framework with regard lo relationship and sex education and iesponded positively
lo the national Inilialives on equity, diversity and equality that schools were asked to implement. The
School began a new subscription to 'The Wellbeing Hub, in September 2024
an online support
platform for pupils. parents, schools and teachers. The platform includes resources for lessons in school
as well as advice for pupils and parents. 11 also includes access to live and recorded webinars for
parents on a variety of topics and these are advertised in the School's weekly newsletter.
Community Involvement
The School has an on-going commitment lo encourage all pupils of every age lo engage lal appropriate
levels) in community involvement. These include community carol singing, visits lo residential and care
homes and invitations lo members of the community and local schools lo attend a number of school
events such as concerts and plays. The School gifted a membership subscription lo the Wellbeing Hub
lan online wellbeing platform lor pupils and families) lo Edmund Campion School In Erdinglon.
Chanty play5 a huge part in both the Senior and Preparatory Schools. The charities chosen by the
sludenl councils on each sile this year were Canine Partners. Sl Giles Hospice and the water sanitation
project in Chiang Mai (Thailandl which was a focus of the senior school trip lo Thailand in October
2024. We also continued lo support Shoe Aid, the Erdinglon Foodbank and Lions International
spectacle recycling initiative. During the year the School raised £1 D,947 A fLJrther £2,079 was raised
as an Individual event for Sl Giles Hospice with the pupils taking part In their annual Rudolph Run. We
supported Comic Relief this year. raising £312.
This year has also seen the School donating gifts of food for the Trussell Trust foodbank operated in
Erdington. Pupils have also collected and donated used spectacles to Lions Internationa5. The
Governors are extremely grateful to the pupils and their parents for these considerable fund-raising
efforts, which were even more necessary during the cost-ot-living crisis lo assist those within the
community who are struggling lo cope.
The Competitions in art and creative writing for local primary schools again took place this year The art
competition, in the Spring, attracted 153 entries from 8 schools on the theme of a 'hero which could
be interpreted In many ways, bul was linked to the 801h anniversary of VE Day whilst the creative
writing competition focussed on writing a piece Inspired by art work from the National Gallery lo
celebrate ils 1001h anniversary and attracted 139 entries from 6 schools. We were able lo welcome
participants into school for the presentslion events.
Nèighbouring primary schools and local sporting teams enjoy the use of the School's recreational
facilities al both the Senior School and Highclare Sports Field and the Church next door are able to use
the car park every weekend when they are open, within current reslriclions and able lo provide services
lo the community.
Page 5

Highclare School
Stratsgic Report (continuedl
Community Involvement lcontinuedl
The Trustees have considered their response to the change to the law. as embodied in the Charities
Act 2011, requiring that public benefit can no longer be presumed bul musl be demonslraled. In
addition, they have had due regard for Charity Commission guidance on the subject. The Governors
consider that these wider involvements and contributions lo the community clearly demonslrale the
greater public benefit requirements are being mel.
Scholarship Awards
Academic scholarships are awarded lo pupils who perform particularly well In our entrance
assessments and have already demonslraled a Considerab￿ degree of all round commitment lo their
current school. Additional specialist scholarships are also awarded for those pupils showing a particular
talent in music or sport and the Head's Award recognises those whose contribution to School life is
likely lo be signifi'cant, bul not recognised by the existing scholarship framework. Bursaries are offered
based on financial needs. The Highclare School Governors. Prize is a means-lested bursary available
annually if all the necessary requirements are mel lo cover up lo 100°kn of school fees for one pupil upon
entering Senior School in U3 Iyear 71. The School currently has awarded this bursary lo eight pupils..
ranging from current U3 (Year 71 to L6 (Year 121.
Financial Review
Fee income has fallen slightly this year lo £7,211,418 from 2024.. £7,290.518, which reflects national
economic and inflationary pressures on family ineomes and a small fall in overall pupil numbers.
The school continues to make savings in overheads and costs wherever possible.
There was a conb'nued and necessary annual rolling rep5a￿rnent piogiamme of IT facilities, including
the replacement of interactive smart boards. computers, servers and Wi-Fi provision to ensure that both
pupils and staff continue to benefit from enhanced inleraclive teaching.
There have been many other significant enhancements this year which included".
Investment in licences for online platforms including the Wellbeing Hub and Morrisby which
supports Careers education and guidance.
The next phase of the school-wide boiler replacement and healing upgrade programme".
A new telephone system across the whole school. providing simplified access lo school
departments for parents and staff members.
Continued upgrades to internal decoration across all siles.
Further roll Dut of Paxton security system lo entrances and doors.
The refurbishment of reception facilities al the Senior School.
Staff professional learning and development has included an external qualification for a School
Wellbeing Lead and Level 7 course lo ensure our SENCO has the necessary qualifications in line
with the maintained sector requirements.
Re$¢rv9s Policy
11 is the policy of the Charity lo maintain separate reserve funds for specific purposes The Charity aims
lo relain at a minimum consolidated unreslricled reserves equiv81ent lo thè carrying value of the tangible
fixed assets (excluding any unrealised revaluation adjuslmenlsl, which amount lo £5,155.236 as al 31
August 2025 12024.. £5,167,058), as a contingency in order lo maintain the stable operation of the
School in the case of future unforeseen events. 11 remains the objectivè ol the Board of Governors for
the reserves to continue lo incrèase until this minimum largel is met and through careful m2nagement
and control of operational costs. The unreslricled reserves have been maintained al the year-end.
Consolidated unrestricted reserves al 31 August 2025 amounted lo £4,959.65312024 £5,044,813).
Page 6

Highclare School
Strategic Report (continued)
Risk Managgment
The major risks. to which the Charily is exposed, as identified by the Governors, have been reviewed
and systems have been established lo mitigate those risks. A risk register has been established and is
updated throughout the year.
Frignds of Highclare School {"FOHS"I
The FOHS plays a very important part in the School, organising events for the pupils and parents and
raising funds for the School. They are a committed and dedicated group of parents who aim lo provide
the best they can for the School. They also kindly operate a second-hand School uniform shop that is
Used by the parent body.
Child Protection Codg of Practice
It is the policy of Highclare School lo provide a safe and secure environment in which pupils can thrive
and develop and where all aspects of their welfare will be safeguarded. The Safeguarding Policy is
embedded within School life and is updated annually. This includes additional and nècessary
considerations for physical as well as psychological health, safety and well-being of all our pupils. Our
DSL is also undertaking CPD lo gain a Mental Health and Wellbeing Lead Qualification.
Plans for Future Periods
The Governors, plan is to continue to improve the educational and academic achievements of pupils by
the provision of enhanced facilities. Constant monitoring of performance. and the potentially changing
landscape of rules and requirements, means that the School's medium lo long term strategy is kept
under review and any changes that are necessary will be considered and implemented.
The School is in the process of achieving an externally accredited Wellbeing Award. We are also
developing our School brand, as recognised recently in the Independent School of the Year Awards,
around 'The Highclare Difference. and investing in resources to support this. e g. introduction ol the
Highclare Diploma al Highclare Senior School. This includes one-to-one laptop deployment when pupils
join Senior School. this is a rolling programme which will lake 4 years lo Complete lin September 2025,
Year 7 and Year 8 will be issued with laptops).
The School continues its major school wide capital investment programme where appropriate. The siles
currently occupied by Abbey Fire Ltd and the former Sign Services at the front of the Senior School Site
on Birmingham Road are scheduled for demolition in late summer 2026 so that the land can be brought
into the Highclare Senior School campus.
Additionally, the School's schedule of rolling maintenance in respect of areas such as roofing, rainwater
pipes and fire security continues across all three locations as required. lo ensure a high quality-learning
environment is maintained for the pupils.
Approved by the Board on 21 January 2026 and signed on ils behalf by..
JRBra
Governor
Page 7

Highclare School
Governors, Report
The Governors submit their report and the audited consolidated financial slalemenls of the Group for
the year ended 31 August 2025.
The Governors have adopted the provisions of the Statement of Recommended Ptaelice ISORP}
'Accounling and Reporting by Charities, IFRS 1021 in preparing the Annual Report and Financial
Statements.
Structure, Governance and Management
The Company is limited by guarantee and is registered as a charitable educational trust. There is no
share capital. Its Memorandum and Articles of Association govern thè Company.
Governors, rgsponsibilities
The Governors (who are also directors of Highclare School for the purposes of Company Lawl are
responsible for preparing the Annual Report (including the Strategic Reportl and the Financial
Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting
Practice.
Company Law requires the Governors lo prepare financial slalemenls for each financial year, which
give a true and fail view of the stsle of affairs of the Charitable Company and the Group arid of the
income and expenditure of the Group and Charitable Company for that period. In preparing those
financial stslemenls, the Governors are required lo.
select suitable accounting rx)licies and apply them consistently,.
observe the methods and principles in the Charities SORP IFRS 1021",
make judgements and eslimales that are reasonable and prudent,.
slate whether applicable UK Accounting Standards have been followed, subject lo any departures
disclosed and explained in the financial slalemenls".
prepare the financial statements on the going concern basis unless il is inappropriate lo assume
that the Group or charitable company will continue in operabon.
The Governors are responsible for keeping adequate accounting records that disclose with reasonable
accuracy al any time the financial position of the Group and Charitable Company and enable them lo
ensure that the financial slalemenls comply with Companies Act 2006. They are also responsible for
safeguarding the assets of the Group and Charitable Company and hence for tsking reasonable steps
for the prevention and detection of fraud and other irregularities.
The Governors are also responsible for ensuring that the assets are properly applied in accordance
with Charity Law.
The Governors who were In office on the dale of approval of these financial statements have confirmed,
as far as they are aware, th81 there Is no relevant audit Information of which the Group and Charitable
Company's auditor is unaware Each of the Governors have confirmed that they have taken all steps
that they ought lo have taken as Governors In order to make themselves aware of any relevant audit
information and lo establish that il has been communicated to the auditor.
The Trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the Charitable Company's website. Legislation in the United Kingdom governing
the preparation and di5seminalion of financial slalements may differ from legislation in other
jurisdictions.
Page 8

Highclare School
Governors, Report (continued)
Organisational Management
The Oireclors ol the Company are also Charity Trustees for the purposes of Charity Law and ullder the
Company's Articles are known as Governors. The Governors are all members of the Cofflpany serving
in a non-execulive capacity and receive no emoluments. The day-to-day management of the School is
delegated lo the Head and the Senior Leadership Team.
The Governors who served in the year ended 31 August 2025 were".
J A Barrett (Presidenti
Mrs L E Flowilh (Chaimanl
J R Brain (Treasurer)
Mrs P A Mayall
A l Hazel
Mrs S D Walson
A B Davison
Mrs A Moore
Mr J R Brain. Mrs P A Mayall and Mr A l Hazel retire by rolalion al the forthcoming Annual General
Meeting and. being eligible., offer themselves for re-election al the Annual General Meeting.
Auditors
Malcolm Piper & Company Limited, as auditors. will be proposed lo the Governors for re-election al the
Annual General Meeting.
Approved by the Board on 21 January 2026 and signed on its behalf by..
J R Brain
Governor
Page 9

Independent Auditor's Report to the Governors of Highclare School
(A Company Limited By Guarantee} (Registration number 1074596)
Year Ended 31 August 2025
Opinion
We have audited the financial statements of Highclare School Ithe'parenl charitable company'l and its subsidiarias
Ithe'Group I for the year ended 31 August 2025 which comprise the Consolidated Statement of Financial Activities.
Consolidated Balance Sheet. Company Balance Sheet. Consolidated Cash Flow Statement and notes to the
financial $18lements, including significant accounting policies. The financial reporting ffarnework 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 lairview of the slate of the Group's and parent charitable company's affairs as at 31 August
2025, and of the Group's incoming resources and applicatitsn of resources, including its incotne and
expenditure, for the year then ended.,
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting
Practice.. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basi8 for opinion
We conduded our audit in accordance with Intemat￿naI Standards on Auditing IUKI IISAS IUKII and applicable
law. Our ie5ponsibilities under those standards are further described in the Auditor's responsibilities lor the audit
of the financial stalemenfs section of our report We are independenl of the Group and parent charitable company
in accordance with the ethical ieouiremenls that are relevant to our audit of the finanryal 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 18 SLrfFicient and appropriale to provide
a basis ftsi our opinion.
Conclusions relating to going con¢em
In auditing the finan¢ial statèments. we have concluded that the Govemors, use of the going concern basis of
accounting in the preparation ol the financial slalement5 is appropriate.
Based on the work we have performed, we have not identifièd any matèrial uncèrtaintiès rèlah.ng to events or
conditions that, individually orcolleclively. rnay cast 51gnificant doubt on the GIoup'5 or parent charitable company's
ability to continue as a going concem for a pencxy of at kast ￿e1ve months trom whtrn the finanlial statements are
aulhorised for issue.
Our responsibilities and the responsibilillos ol th8 Governors with 1gSPe¢t lo going con¢8rn are desoribed in the
relevant sections of this report.
Other infom)ation
The other infomiat'on comprises the Information induded irTr thé Governors. annual report, olhgl than the fin8noial
statements and our auditor's report Ihereon. The Governors are responsible for the other informztion contained
within the annual report. Our opinion on the financial statements does not cover the other information and. exTrpt
lo the extent otherwise explicitly slated in our report, we do not express any form ol assurance conclusion Ihereon
Our reswnsibilily is to read the other Informahon and, in doing so. consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtain8d In the couise of the audit or
otherwise appears to be maleiiÈlly tnisstated. 11 we identify such rnaterial inconsistencies or apparent material
misstatements, we are required to deteminé whether this gives rise to a material misstatement in the finanaal
stalemellts themselves. If, based on the work we have performed. we conclude that there is a material
misstatement of this other Infoirnation. we are required lo report that f8Ct.
We have nothing to report In Ihi5 regard.
[¢onliniJed.
Page 10

Independent Auditor's Report to the Governors of Highclare School
(A Company Limited By Guarantee) (Registration number 1074596}
(continued)
Year Ended 31 August 2025
Opinions on other matters prescribed by thè Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit.
the information given in the Governor5. Report lincorporaling the Strategic Report and the Governors Report) for
the financial year for which the financial statements ale prepared is consistent with the finanaal slalernents,. and
the Strategic Report and the Govemors. Report have been prepared in accordan￿ with applicable legal
iequiremenls.
Matters on which we are ￿qUired to report by exception
In the light of our knowledge and understanding of the Group and parent Charitable cornpany and its environment
obtained in the course ol the audit, we have not identified material misstslements in tre Strategic Report and the
Governors, Report.
We have nothing lo report in respect ol the f￿lOw1rng matters In rè181ion lo which the Companies Act 2006 requires
us lo report lo you if, in our opinion".
adequate accounting records have not been kept by the parent ¢h8rilable company, or returns adequate for our
audit have not been received from blanches not visited by us, or
the parent charitable cornpany's financial statements are not in agreèment with the accounlin9 records and
returns., or
certain disclosures of directors, remuneration specified by law are not made", or
we have not received all the informab'on and explanations we require lor our audit.
R•sponsibFlities of Governors
As explained morè fully in the Governors. responsibilities statement set out on page 8 the Governors Iwho are also
the Directors of the chanta￿e company for the purposes ol Company Lawl are responsible lor the preparatiorl of
the financial statements and for being satisfied that they give a true and fair view, and for such internal tontiol as
the Governors 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 Gc)vernors are responsible for assessing the Group's and paient
charitable company's ability to continue as 8 going concern. disclosing. as applicable. matters related to going
concern and using the going concem basis of a￿OUntsng unless the Govemors either intend lo liquidate the Group
or the parent charitable company or to cease operations, or have no realistic akernalive bul to do so.
Auditorfs responsibilitie5 for the audit of the financial slalements
We have been appointed auditor under the Companies Act 2006 and report in accordance with this Acl.
Our objectives ale to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due lo fiaud or error, and to issue an audilorfs report that includes our opinion.
Reasonable assuran¢e is 8 high level of assurance bul is not a guarantee that an audit conducted In accordance
with ISAS IUKI wll always delect a material misslalement when it exists. Misstatements can arise from fFaud 01
error and are considered materi81 if, individually or in the aggregate, they could reasonably be expecte(I to influence
the economic decisions of users taken on the basis of these financial slalements.
[continued ..]
Page11

Independent Auditor's Report to the Governors of Highclare School
(A Company Limited By Guarantee) (Registration number 10745961
(continued)
Year Ended 31 August 2025
Irregularities. including fraud. are instances of non-cornpliance with laws and regulations. We design procedures
n line with our responsibilities. including fraud as detailed below..
We obtained an understanding of the legal and regulatory frameworks that are applicable to Highclare School,
I'lhe Group and Company'l and determined that the most significant are those that relate to the UK reporting
fratllework Ljnder which the Company prepares its accounts and reports its results and the relevant UK tax
compliance regulations. In addition, we conduded that there are certaill significant law5 and regulations that rnay
have an effect on the delerrnination ol the amounts and disclosures in the financial statements and those laws and
regulations include those relating to health and safely, employee matters, environmental, and bFibery and
corrupb.on pra￿l¢e8..
Having due regard lo ISA 240 IRedraftedl. The Audrtorfs Responsibilities Relating lo Fiaud in an Audit of Financial
Statements. we planned and designed our audit procedures to undertake such enquiry and testing which w¢
deetned necessary to understand how the Company is complying with Ihose frameworks. We tnade enquiries of
thè direGtors. senior management and those responsible for legal and compliance procedures within the "Group
and Company" and we corroborated our enquiries by reference to other documentary evidence, where availablè,
or other complimentary or compensating evidence and with other correspondence received and noted that there
was no contradictory evidence..
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material mi5-5tatemenls lfi the finanryal statements. even though we have properly planned and performed our
audit in accordance with auditing standards For example. the further removed any non-compliance with laws and
regulations is from the events and transactions reflected in the financial slalements, the less likely the Inherently
limited p￿￿dureS required by auditing standards would identify it. In addition. as with any audit, there remained
a htgher risk of non-d8leGtion of traud. a8 these invdve collusion. forgery, intentional omissions.
misrepfesentations, or the over-ride ol Internal controls. Our audit procedures are designed lo detect material rnis-
statement. We are not responsible for preventing non-cornpliance or fraud and cannot be expected lo delect non-
compliance with all laws and iegulations.
In designing the scope and depth ol our Wofk to assess th8 likely Impact on the financial statements of fraud and
other irregularities. we calculate a rnateriality level which Is a per￿ntage based upon tumover. profitability and
gross balance sheet assets. This calculation pr(>duces a figure against which finanoal s18ternenf errors and
irregularities are Compared and indicates a level at which. in our opinion and judgement, this would cause
transactions and balances within the financial statements to be misleading or rnaterially incorre¢t
We also assessed the sUS￿p11bI1ltY of the Consolidated Financial Statements ol Group and Company" lo
material misslatement Ljsing qualitative as well as quantitative factors. in¢luding how fraud might occur, and
designed our audit testing and enquiries in such a way 50 as to enable us to identify the fraud risks across various
parts of the business. In addition, we ulilised Internal and external inlomation to perfortn a fraud risk a5sessrnenl
as part of our audit planning and testing pr￿edUr•S.
We considered the risk of fraud through management override of ¢onlrols and systems and. In response. we
incorporated testing of large or unusual manual journal entrie5 into our audrt approach. We also cons4dered the
possibility of fraudulent or corrupt payments made through third parties and conducte¢Y detailed analytical review
and substantive transaction testing on third party suppliers. Where inslanc8$ of unvsual behaviour patterns were
identified through our testing. we perfortned additional audit procedures to address each identified risk. These
procedures included testing of transactions back lo source information and were designed lo provide reasonable
assurance that the linanaal statements were free from IiaLtd Of error. We also conducted specific audit procedures
in relation to the risk ol bnbery and corruption by means ol review of any rnarketing. promotion or discount activity
determined by a risk-based process,
Based on the results ol our risk assessment we designed our audit pr¢)cedures to identify non-compliance with
such laws and regulation5 Identified above. Our procedures Involved journal entry testing. with a focus on journals
meeting our defined nsk crrteii3 based on our understanding of the business and enquiries of "Group and
Company, management." and
11 any instances of non-compliance with laws and regulations were identified. the audit team perfom)ed sufficient
and appropriate audit procedures.
[wi?hnued ..J
Page 12

Independent Auditor's Report to the Governors of Highclare School
(A Company Limited By Guarantee) (Registration number 1074596)
(Gontinuedl
Year Ended 31 August 2025
Because of the inherent lirnitations of an audit. there is a risk that we wll not delecl all irregularities. includiw those
leading to a material misstatement in the financial slatements or non-compliance with ￿gUlatIOn. This risk increases
the more that compliance with a law or regulation 5$ removed from the events and Iransactions reflected in the
financial statements, as we will be less likely lo becorne aware of instan￿$ ol non-compliance. The risk is also
greater regarding irregularities occurring due to fraud ratheF than error, as fraud involves intentional concealment,
forgery. collusion, omission or MIs￿presentatIon.
A further description of our responsibilities for the audit ol the finanaal statements is located on the Financial
Reporting Council's website al.. wwv4.Irc.org.ukJaudilorsresponsibilities. This description foms part of our auditor's
repori.
Use of our report
This report is rnade solely to the charitable company's members. as a body, in accordance with Chapter 3 01 Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the Group and
charitable company s mernbers those mallers we are ￿qUired lo slate to them in an audilo¢s report and for no
other purpose. To the fullest extent permitted by law. we do not accept 01 assume responsibility to anyone other
than the Group and charitable company and the charitable company's members as a body, for our audit work. lor
this report. or for the opinions we have fomed.
Peter Vvhitehead BA FCA
Senior Statutory Auditor
For and on behalf of
Malcolrn Piper & Company Lirniled
Kingsnorth Housè
Blenheim Way
8imingham
&44 8LS
Dated." 21 January 2028
Page 13

Highclare School
Consolidated Statement of Financial Activities
lincluding Income and Expenditure Account)
for the year ended 31 August 2025
Unrestrlcted
funds
2025
Restrleted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income trom:
Charitsble activities
School fees receivable
Regislr81ion fees
School activities & trips
7,211,418
10,327
106,473
7.211,418
10,327
106.473
7,290,518
13,187
141,948
Investments
Rents and lettings
8,250
8,250
8,250
Other
Other income
428,795
428,795
382,528
Total income
7,765,263
7,765,263
7,836.431
Resources exp9nded
Expenditure on:
Charitable activities
School operating costs
School activities and trips
Governance costs
School finance wsls
17,436,753)
1106,4731
111.4251
131,9071
1401
17,436.7931
1106,4731
111,4251
31,9071
17,282,6731
1141,9481
111,4251
145,6551
Exceptional Items
10
1263,861}
1263,8611
1177.0321
Total expenditure
17.850,4191
1401
{7,850,4591
17,658,7331
Net Income
185.1561
1401
185.1961
177,698
Transfers belmeen funds
20
Net movement in funds for
year
185,1581
1401
185.1961
177,698
Total funds brought forward
at 1 September 2024
5,044,813
604
5.045.417
4,867,719
Total funds carried
forward at 31 August 2025
4,959,657
564
4.960.221
5,045,417
All income and expenditure is derived wholly from continuing operations.
The consolidated slalerrEnl of financial aclivib'es includes all gains and losses recognised during the year.
The notes on pages 18 to 32 form an integral part of these financial slalemenis.
Page 14

Highclare School
Consolidated Balance Sheet at 31 August 2025 {Registration number 1074596)
Note
2025
2024
Fixed assets
Tangible assets
12
5.155,236
5,167,058
5.155,236
5,167,058
Current assets
Debtors
Cash at bank and in hand
14
161,102
2.380,746
228,092
2.927,280
2,541,848
3.155,372
Creditors. Amounts falling due within one year
15
12,353,983)
12,808.2351
Net currgnt assets
187,865
347,137
Totsl assots less current liabilities
5.343,101
5,514,195
Crgditors.. Amounts falling due more than one year
16
1382,8801
1468,778)
Total net assets
4,960,221
5.045,417
Charity Funds
Restricted Funds
20
564
604
Unrestricted Funds
General unreslricled funds
Revaluation reserves
20
20
4.653,884
305,773
4,693,337
351,476
4.960,221
5,045,417
These financial slalements were approved and aulhorised for issue by the Board on 21 January 2026
and signed on its behalf by.
Govemor
Mrs L E Flowiih
Govemof
J R Brain
The notes on pages 18 10 32 form an integral part of these financial slalemenls
Page 15

Highclare School
Balance Sheet at 31 August 2025 (Registration number 1074596)
Noto
2025
2024
Fixod assets
Tangible assets
Investment
12
13
7.407,347
7,464.872
7.407.347
7,464,873
Current assets
Debtors
Cash at bank and in hand
14
161,102
2,380,746
228,092
2,927,280
2,541
3.155,372
Creditors.. Amounts falling due within one year
15
12,353,983)
12.808,2401
Net current assets
187,865
347,132
Totsl assets less current liabilities
7,595.212
7,812,IX)5
Creditors.. Amounts falling due after
more than one year
16
1382.880}
{468,7781
Total net assets
7,212,332
7,343,227
Charity Funds
Restricted Funds
20
604
Unrestricted Funds
General unreslricled funds
Revaluation resetves
20
20
7.127,738
84.030
7,258.593
84,030
7.212.332
7,343,227
These financial slalements were approved and authorised for issue by the Board on 21 January 2026
and signed on ils behalf by.
Governor
Mrs L E Flowiih
Governor
J R Brain
The notes on pages 18 to 32 fomi an integral part of Ihe8e financial stslements
Page 16

Highclare School
Consolidated Cash Flow Statement for the Year Ended 31 August 2025
Note
2025
2024
Net cash inllow from operatlng actlvltles
22
1307,9501
1,192,423
Cash flow from Investlng actlvltles
Payments to acquire tangible fixed assets
Receipts from sale of tangible fixed assets
Rents received from investment properties
1134,4671
5.438
8,250
1305,4001
8.250
Net cash flow from Investlng actlvities
1120,7791
895,273
Cash flow from financing activities
Repayment of loans
Loan interest paid
185,8981
131,9071
185,8971
145,6221
Net cash flow from financing activities
1117,8051
1131,5191
Net increase Idecreasel in cash and cash
equivalents
IS46,5341
763,754
Cash and eash equivalents at 1 September 2024
2,927,280
2,163,526
Cash and cash equivalents at 31 August 2025
2,380,746
2,927,280
Cash and Cash equlvalents conslst ol:
Cash al bank and in hand
2.380,746
2,927,280
Page 17

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025
1. Accounting Policieg
General Information and Basis of Accounting
The Charity is a Company Limited by Guarantee in the United Kingdom. The members ol the
company are the Trustees named on page 1. In the event of the Charity being wound up, the liability
in respect of the guarantee is limited to £10 per member ol the Charity. The address oflhe registered
office is given in the Charity information on page 1 of the financial slatemenls. The nature of the
Charity's operations and principal activities are detailed in the Strategic Report on page 2.
The Company has taken advantsge of section 62 of the Companies Act 2006 and deleted the word
°Limiled from ils name.
The Charity constitutes a Public Benefit Entity as defined by FRS 102. The financial slalements have
been prepared in accordance with Accounting and Reporting by Charities. Statement of
Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with
the Financial Reporting Standards applicable in the UK and Republic of Ireland issued in October
2019, the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021.
the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice
The consolidated financial statements have been prepared under the historical cost accounting
convention, other than in the case of certain freehold properties and Investment properties, which
are slated al valuation. The consolidated financial slalements are prepared in sterling, which is the
functional currency of the Charity and rounded lo the nearest pound. There are no discontinued
operations.
The significant accounting policies applied In the preparation of these financial slalements tor the
Group and Ch8rilable Company I'charily'l are sel out below. These ptslicies have been consistently
applied to all years presented unless otherwise slated
Basis of Consolidation
The Group financial slalemenls consolidate the financi81 slalements of the company and its
subsidiary undertakings, Highclare Investments Limited Icompany registered number 029639341
and Highclare Limited Icompany registered number 029639381. Inlra-group transactions and profits
are eliminated on consolidation.
No separate slalemenl of financial activities is presented for the Company as permitted by section
408 of the Companies Act 2006 The Company had total income from charitable activities of
£7,328,21812024. £7,445,6531, income from investments of £8,25012024'. £1,174,120) and other
income of £428,795 12024.. £382,528). Total expenditure on charitable activities was £7,588,965
12024". £7,424.5911, governance and finance costs of £43,332 12024.. £57,080) and exceptional
items of £263.861 12024" £177,032). The net108s for the ye8r amounted lo £130,895 Inet income
2024. £1,343,598)
Funds
Unrestricted funds are funds which are available for use at the discretion ol the Trustees in
furtherance of the general objectives of the Charity and which have not been designated lor other
purposes.
Restricted funds are funds whrh are lo 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 ol each restricted
funds 15 set out in the notes lo the f1nancial statements
Income Recognition
All income is included in the Slalemenl of Financial Activities when the Charity is legally enlilled lo
the income after any performance conditions have been mel. the amount can be quantified with
reasonable accuracy.. and it Is probable that the income will be received.
Page 18

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
Accounting Policies Icontinuedl
Donations
For donations lo be recognised the Charity will have been notified of the amounts and settlement
dale in writing. If there are conditions attached lo the donalion. and this requires a level of
performance before entillemenl can be obtained, then income is deferred until those conditions are
fully mel or the fulfilmenl of those Cond￿lI0nS is within the control of the Charity and it is probable that
they will be fulfilled. Donations receivable for the general purposes of the school arè credited to
unreslricled funds. Donations subject lo specific wishes of the donors are credited lo relevant
reslricled funds.
Charitable Income
Fees receivable and charges for services are accounted for in the period In which the service is
provided. Fees receivable are ststed after deducting allowances. scholarships and other remissions
allowed by the school.
Investment Income
Investment income is earned through holding assets for investment purposes such as property It
includes interest earned and rent Where it is not practicable to identify investment management
costs incurred within a scheme with reasonable accuracy the investment income is reported net of
these costs 11 Is Included when the amount can be measured reliably. Interest and rental income
are recognised as the charity's right lo receive payment 15 established.
Expenditure Recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Expenditure is recognised where there is a legal or
conslrucb've obligation lo make payments to third parties, il is probable that the seitlemenl will be
required. and the amount of the oblig21ion can be measured reliably. All costs are incurred in the
furtherance of the charitable aclivilies.
Costs of Raising Funds
Costs of generating funds are those costs incurred in allracling voluntary income and those Incurred
in trading activities that raise funds.
Charitable Activities
Charitable activities include expenditure on providing education and include both direct costs and
support costs relating to the activity.
Support Costs
Support costs are those that assist the work of the Charity bul do not directly represent charitable
activities and include central functions and governance costs. They are incurred directly In support
of expenditure on the objectives of the Charity. Where support costs cannot be directly attributed lo
particular headings they have been allocated lo cost of raising funds and expenditure on charitable
activities on a basis consistent with the use of resources e.g. staff costs by the time spent and other
costs by their usage.
Governance Costs
Governance costs comprise the costs of running the Charity, Including strategic planning for Ils
future development, external audit, any legal advice for the Governors and all the costs of comptying
with conslitulional and slalulory requiiements. such as the cost of Board and Committee meetings
and of preparing slatulory accounts and satisfying public accountability.
Lgases
Rentals paid under operating leases are charged lo income in the period lo which they relate.
Page 19

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
Accounting Policies Icontinuedl
Tangible Fixed Assets
Tangible fixed assets acquired are capitalised in the balance sheet al their original cost or valuation.
Items costing less than £750 are written off as an expense In the period In which they are acquired.
Depreciation is provided on all tangible fixed assets other than freehold land al rates calculated lo
write each asset down to its eslimaled residual value evenly over ils expected useful life. as fol￿Ow$
Freehold properties
Leasehold improvements
Fixtures, fittings and equipment
Computer equipment Iteachingl
Motor vehicles
Investment pioperties
up lo 50 years straight line
up lo 50 years straight line
between 2 and 5 years slraighl line
a maximum of 4 years straight line
a maximum of 5 years stra1ghl line
not depreciated
Assets under Construction
Costs incurred in fixed assets under construction are capilalised as they are incurred The total cost
of the project will be assessed against ils realisable value upon completion of the project and il will
then be transferred lo the appropriate asset category No depreciation Is chargèd during the project
construction. Where a project is aborted, the costs are immediately wr1tten off lo the Slalemenl of
Financial Activities I'SOFA'I.
Investment Properties
Investment properties are accounted for in accordance with FRS 102, which provides that these
should not be subject lo periodic depreciation charges (unless held on lease), but should be shown
at fair value. This is contrary to the Companies Act 2006. which slates that, subject lo any provision
for depreciation or diminution in value. fixed assets are normally lo bè staled at purchase price or
production cost. Current cost accounting or the revaluation of specific assets lo fair value, as
determined at the dale of their last valuation. Is also permitted.
The Irealmenl of investment properties under the Companies Act does not give a true and fair view,
as these assets are not held for consumption but 88 inveslmenls, the disposal of which would not
materially affect the operations of the Group. In such a case, it is the current value of these
inveslmenls, and changes in that Current value. which are of prime importance. Consequently, lor
the proper appreciation of the financial position, the accounting treatment required by FRS 102 is
considered appropriate for investment properties.
Details of the current value and historical cost information for investment properties are given in the
Tangible Fixed Asset note
Investments
Fixed asset investments In subsidiaries are measured al historical cost less provision for any
permanent diminution In value.
Debtors and creditors receivable I payable within one year
Debtors and creditors with no slated Interest rale and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the SOFA.
Loans and borrowings
Loans and borrowings are Initially recognised at the Ir8nsaclion price including transaction costs.
Subsequently, they are measured al amortised cost using the effective interest rale method, less
impairment. If an arrangement conslitules a finance transaction. it is measured al present value.
Page 20

Highclare Schoo
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
Accountlng Pollcies Icontinuedl
Impairment
Assets not measured al lair value are reviewed for Indi¢alions that thè asset may be impaired al
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's
cash generating unil, is estimated and compared to the carrying value. INhere the carrying amount
exceeds ils recoverable amoijnl, an impairment loss is recognised In the SOFA.
Provlsions
Provisions are recognised when the Charity has an obligation at the balance sheet dale because of
a past event," it is probable that an outflow of economic benefits will be required in selllement,. and
the amount can be reliably estimated.
Employee Benefits
When employees have rendered service lo the Charity, short-term employee benefits to which the
employees are enlilled are recognised al the undiscounted amount expected lo be paid in exchange
for that service.
The Charity operates a defined contribution pension plan for the benefit of ils employees.
Contributions are expensed to the SOFA as they be¢orne payable in accordance with the rules of
the scheme.
Taxatlon
The Company is registered as a Charitable Educational Trust and, under the provisions of Section
505, Income and Corporation Taxes Acl 1988, Is exempl from liabilities lo laxalion on ils charitable
aclivilies. No corporation lax liability arises on the iesults of the subsidiary undertakings for the year.
Government Grants
The company receives government grants in respect of the HM Job Retention Scheme and other
local government support inilialives Income from government and other grants are recognised al
lair value when the company has entiuemenl after any performance conditions are mel, it Is probable
that the income wi15 be re￿IVed and the amount can be measured reliably If enlillemenl is not mel,
these amounts are deferred.
Going ¢oncern
Having reviewed the cash posib'on. the Governors consider that the Group has adequate resources
to continue ils current operations and pursue ils Long Term Strategy, as they believe il has the ability
to meet ils debts as they fall due Accordingly, they continue to adopt the going concern basis in
preparing the annual report and accounts.
Income from Charitable Activities
During the year, no donations were received and classified as reslricled funds. All charitable income
for the current and prior year Is attributable to unreslricled funds.
Income from Investments
All investment income for the current and prior year is attributable to unreslricled funds.
Income from Other Activities
2025
2024
other Income
428.795
382,528
Other Income is attributablè lo unrestricted funds.
Page 21

Highclare School
Notes to the Consolidated Financial Ststements
for the Year Ended 31 August 2025 (continued)
School Operating Costs
Unrestrieted
funds
2025
Restricted
funds
2025
Total
2025
Totsl
2024
Salaries
Teaching rnalerials
Kitchen expenses
Rent, rates and insurance
Heat and light
Cleaning
Training
Repairs and maintenan
Motor and transport
School activities and trips
Unrecoverable VAT
5,108,314
278,267
564,290
163,091
223,154
189,806
11,048
268,535
48,528
106,473
45,824
5,108,314
278,267
564,290
163,091
223,154
189,806
11,048
268,535
48,528
106,473
45,824
4,965,169
215,940
548,618
109,001
215,003
213,072
13,049
396,*6
43,892
141,948
Depreciation..
Fixtures, vehicles and equipment
Freehold buildings
Profil on disposal of fixed assets
110,433
30,418
5,438
110A33
30.418
5.438
134.193
40.438
Support costs:
Printing and slalionery
Advertising
Sundry expenses
Professional charges
Bank charges and interest
167,560
29.557
78.368
101,246
56.208
167,560
29,557
78,408
101,246
56,208
198.762
18.234
78,233
67,368
81,815
40
7,586,558
40
7,586,S98
7,481,701
All expenditure for the current and prior year is in respect of the furtherance of the charitable activities
of which £4012024 £301 was allribulable lo reslricled funds and £7.586.55812024 - £7,481.6711
was attributable lo unrestricted funds.
Included within school operating costs are school activities and trips. governance costs Inole 81 and
school finance costs Inole 91, which have been disclosed separately on the Sialemenl of Financial
Activities.
Governance Costs
Unrestricted
funds
2025
Restricted
funds
2025
Total
2025
Total
2024
Auditors, remuneration Inole 111
11,425
11,425
11,425
Page 22

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
staff Costs
The average monthly number ofempk)yees and full-lime equivalents IFfEI during the year was
as follows".
2025
2024
Number
FTE
Number
FTE
Teachers
Adminislralion
Auxiliary staff
108
30
21
90
23
13
106
27
20
88
22
12
159
126
153
123
2025
2024
Staff costs foT above persons..
Wages anot salaries
Social security costs
Other pension costs
4.452,535
411,352
244,427
4,371,883
359,910
233,376
5.108.314
4,965,169
There were five 12024.. five) employees whose emoluments as defined for taxation purposes
amounted to over £60,000. Their emoluments fell within the following bands.. three £60,000- £70,000
12024 Ihreèl one £70.001 £80,000 12024. onel, nil £80,001 £90,000 12024: one) and one
£100,000 £110,00012024. niS1.
Pension costs in respect of the above employees lolalled £32.97412024.' £31,689).
Deflned contrlbution penslon scheme
The Group operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the Group in independently administered funds. Five 12024.. lourl higher
paid employees are acciuing benefits under the group defined contribution pension scheme. The
lolal pension costs charge lo all schemes represents contributions payable by the Group and
amounted lo £244,42712024. £233,376).
Trustees, and Key Management Personnel Remuneratlon and expenses
The Governors do not receive any remuneration from the School, have no accruing pension
arrangements and had no expenses ieimbursed in either the year lo 31 August 2025 or the previous
financial year.
The total amount of employee benefits received by key management personnel is £426.07612024'.
£505.3921. The Charity considers its key management personnel are the Senior Leadership Team.
Page 23

High¢lare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued
School finance costs
2025
2024
Bank loan Interest
31,907
45,622
10.
Exceptional Items
Exceptional items relate lo amounts incurred during the year, which are not of a recurring nature.
These are as follows.
2025
2024
VAT recovered on regislialion
VAT on school fees borne by school
Legal and professional lees In respect of various planning and other
strategic related work
191.388
1455.249
1177,032}
1263,861)
1177.0321
11.
Total Resources Expended
2025
2024
Total reSoU￿S expended on charitable aclNilies includes..
Depreciation of iangible fixed assets
Surplus on disposal of tangible fixed assets
Auditor's remuneration in respect of non-audil services
125,567
5.438
6.300
177,491
5,670
Govemance costs includes".
2025
2024
Akjditors. remuneration In respect of audit serv￿e5
for audit services
for other services
11,425
6,300
11,425
5,670
17,725
17,095
Page 24

Highclare School
Notes to the Consolidated Financial Ststements
for the Year Ended 31 August 2025 (continued)
12.
Tanglble Flxed Assets
Fixtures.
rittings,
vehicles &
equipment
Investment
properties
Freehold
properties
Total
Group
Cost or valuatlon
Al 1 September 2024
Additions
Disposals
219,162
6,167,680
2,136,838
134,467
118,3551
8,523,680
134.467
118.3551
At 31 August 2025
219,162
6,167,680
2,252,950
8,639.792
Depreciation
At 1 September 2024
Charged In the year
Disposals
1,727,658
30.418
1,628,964
110,433
112,9171
3,356.622
140.851
112,9171
At 31 August 2025
1.758,076
1,726,480
3.484,556
Net Book Value
Al 31 August 2025
219,162
4.409,604
526,470
S 155,236
Al 31 August 2024
219,162
4,440,022
507,874
5.167,058
Company
Cost or valuation
Al 1 September 2024
Additions
Disposals
219,162
7,360.909
2,136,841
134,467
118,3551
9,716,912
134.467
118,3551
Al 31 August 2025
219,162
7,360,909
2.252,953
9,833,024
Depreciation
At 1 September 2024
Charged in the year
Disposals
623,076
76,121
1.628,964
110,433
112,9171
2,252.040
186.554
12,9171
At 31 August 2025
699,197
1,726,480
2.425,677
Net Book Value
Al 31 August 2025
219,162
6.661,712
526,473
7807,347
Al 31 August 2024
219.162
6,737,833
507,877
7,464,872
Page 25

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
12.
Tangible Fixed Assets Icontinuedl
On an historica5 cost basis the freehold property would be Included al..
Group
2025
Company
2025
2024
2024
Cost
Depreciation
5.638,202
11.726,0311
5,638,202
11.695,6131
7.309,374
1697,6461
7,309,374
1621.5251
3.912,171
3,942,589
6,611,728
6,687,849
Freehold land and buildings at 241 Birmingham Road, Wylde Green were re-valued cturing the year
ended 31 August 1995 al open market value with vacant possession by Wealherall, Green & Smith,
independent chartered surveyors. The Governors are satisfied that this valuation remains appropriate,
and currently have no intention to perform further revaluations.
The transitional rules sel out in FRS 102 - 'Financial Reporting Standards applicable in the UK and
Republic of Ireland, were applied on implemenlalion of FRS 102. Accordingly. the book values at
implementation have been retained as deemed cost. The Governors are aware of their responsibilities
lo ensure that there has been no impairment to the value al which the properties are Included In the
financial slalemenls. Based on advice and enquiry of appropriate professionals the Governors are
confident thal the value of the freehold properties al the date of transition to FRS 102 is not impaired
and the ultimate market value exceeds the book values retained al implementation of FRS 102.
On a historical cost basis the investment piopety would be included 21".
Group
Company
2025
2025
2024
2024
Cost
Depreciation
219.162
219,162
219,162
219.162
219,162
219,162
219.162
219,162
In accordance wrth the requirements of FRS 102. but contrary to the requirements of the Companies
Act 2006, investment properties are not deprec1aled. Instead, their on9oing current value is reviewed
annually, which the Governors consider necessary in order lo show a true and fair view.
The property was acquired in 2005 and is slated at wsl The Governors consider that ils current market
value at 31 August 2025 is in excess of ils accounts carrying value
Included in Group freehokl land and buildings Is land with a lolal cost or valuation of
£1,027.50012024. £1,027,500) which is not depreciated.
All fixed assets other than the investment properties are used for direct charitable purposes.
Page 26

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
13.
Investment
The On 3 October 2024 the company completed the legal formalities for simplification of the group
structure which involved the reduction of share capital in the subsidiary undertaking, Highclare
Investments Limited (company registered number 029639341 whereby 949.999 ordinary shares of
£1 each were extinguished reducing the cost of investment to £1. As part of the group reconstruction
on 3 October 2024 the inve51menl of 1 Ordinary £1 share in Highclare Limited (company registered
number 029639381 was transferred lo the company.
Due to the material nature of the trsnsaction this was treated as an adjusting post balance sheet
event and reflected in the accounts to 31 August 2024 leaving the investment of 1 Ordinary Share
12024." 11 of £1 in Highclare Investments Limited and 1 Ordinary Share12024'. 11 of £1 in Highclare
Limited. Both companies are wholly owned subsidiaries. The principle activity of both subsidiaries
was property ownership and management and both are incorporated in England. Neither company
traded In the current or previous financial year. A5 they no longer served any purpose to the group,
applications to strike them off were submitted lo Companies House.
On 4 November 2025 the application lo strike off Highclare Limited was granted and the company
was dissolve. The app5ic21ion lo strike off Highclare Investments Limited is still in progress. The
investment of £2 was therefore written off in these financial slalemenls lo reflect this post balance
sheet event.
Highclare Investments
Limited
Highclare Limited
2025
2024
2025
2024
Summary profit
account
and loss
Tumover
Adminislralive exttnses
Excepts"onal Items
1,304,122
993,692
Net profit for the year
1,304,122
993,692
The assets and 1k3bilits.es of the
subsidiaries were..
Current assets
Total net assets
Aggregate share caplial and
reserves
Page 27

High¢lare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
14.
Debtors
Group
2025
Company
2025
2024
2024
Due within one year..
Oulslanding fees
VAT recoverable
Other debtors
Prepayments
30
65,897
33,162
62,013
30
65,897
33,162
62,013
144.190
83.897
144,190
83,897
161,102
228,092
161,102
228,092
15.
Creditors- Amounts falling due within one year
Group
2025
Company
2025
2024
2024
Bank k)ans
Trade creditors
Fees in advan
Other taxation and social security
Other creditors
Accruals
Deferred income
Friends of Highclare School Fund
Amounts owed to group
85,898
385,041
887,147
87,103
339,302
106,675
456,342
6,475
85,898
495.938
646.709
82,005
455,571
188,354
849,234
4,526
85,898
385,041
887,147
87,103
339,302
106,675
456,342
6.475
85,898
495,938
646,709
82,005
455,575
188,354
849,234
4.526
2,353.983
2,808,235
2,353.983
2,808,240
Bank loans and overdrafts are secured by a fixed charge over book debts and a floating charge over
all other assets of the Group, together with mortgages over certain freehold properties.
16.
Creditors.. Amounts falling due after more than one year
Group
2025
Company
2025
2024
2024
8ank loans
382,880
468.778
382,880
468,778
See Maturity of borrowings note.
Page 28

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 Icontinuedl
17.
Maturity of Borrowings
Group
2025
Company
2025
2024
2024
Bank loans
Amounts fall due on the bank loans as follows".
Within one year
Be￿een one and ￿ years
Betweèn two and five years
Over five years
85,898
85,897
257,693
39,290
85,898
85,898
257,693
125,186
85,898
85,897
257.693
39,290
85.898
85,898
257,693
125.186
468,778
554,676
468,778
554.876
Bank loans for the group and company include the following".
lal A mortgage loan which had a remaining balan￿ at the year-end of £368,77812024. £438,0091
carries interest at the Bank's Sterling Base Rale plus 10/0. This loan is repayable by lermly
instslments of £23,077 which commenced September 2013 and ends in 2028.
Ibl A second loan with a remaining balance al Ihe year-end of £100,00012024'. £116,667), which is
repayable by tefmly capital inslalments of £5,556 payable on 1 September, 2 January and 1
May commencing on 1 September 2013 and ends in 2033. The loan carries interest at the Bank's
Sterling Base Rale plus 3.OOQ/o and is paid monthly.
18.
Operating leases
At 31 August 2025, the School was committed to making the following payments under non-
cancellable operating leases These commitments are analysed as follows..
Group
2025
Company
2025
2024
2024
Other
Within one year
Bebmeen one and five years
Over five years
51,088
74,066
143,000
51.088
114.154
154.000
51,088
74,066
143,000
51,088
114.154
154.000
268.154
319,242
268.154
319.242
Included in the operating leases disclosure above is a twenty-five year tenancy lease with
Birmingham City Council signed on 6 September 2018 over land referred to as "Highclare Sports
Field" Under this agreement, there is a five yearly rent review.
19.
Contingent liabilities
In the event that bank boTiowings arise, the Company has guaranteed by a fixed and floating
charge the bank borrowing of other Group undertakings which lolalled £468.778 at the year-end
12024 £554.6761. This charge was satisfied in full after the year-end and the cross guarantee
released.
Page 29

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
20.
Funds Reconciliation
Group
Asat1
September
2024
Asat31
August
2025
Income
Expenditure
Transfers
Restricted funds
Unreslricled funds
Revaluation
reserve
604
4,693,337
1401
17,850,419)
564
4,653.884
7,765,263
45,703
351,476
{45,7031
305,773
Total funds
5,045.417
7,765,263
17,850,459)
4,960,221
Company
Asat1
September
2024
Asat31
August
2025
Income
Expenditure
Transfers
Reslricled funds
Unreslricled funds
604
7,258,593
1401
17,896,118)
564
7,127.738
7.765,263
Revaluation
reserve
84.030
84.030
Total funds
7,343,227
7,765,263
17,896,1 S81
7,212.332
Fund descriptions
a) Unrestricted funds
The unreslricled funds are retained as necessary to meet the general requirements of the
School. The Charity aims lo relain consolidated unreslricled reserves equiva5enl to the carrying
value of the tangible fixed assets (excluding any unrealised revaluation adjuslmenlsl, which
amount lo £5,155,236 as at 31 August 202512024.. £5,167,058) as a contingency in order lo
maintain the stable operation of the School in the case of future unforeseen events 11 remains
the objective of the Board of Governors for the reserves lo continue to increase until this
minimum largel is mel and through careful management and control of operational costs. The
unrestricted reseTves have been maintained al the year-end. Consolidated unreslricled reserves
at 31 August 2025 amounted lo £4.959,65712024'. £5,044,813). as shown in the notes above
b) Restricted funds
During the year, prizes of £4012024.. £301 were awarded. The remaining reslricled funds £564
12024". £6041 relate lo donations received for prize funds al Seniors Speech Day and for use by
the Music, Modern Foreign Language and Physical Education departments.
cj Revaluation reserve
The revaluation reserve represents unrealisèd suipluses on the revaluation of fixed assets lo
market value in prior years. An amount is transferred to the unreslricled fund each year on the
same basis that the asset 15 depreciated
Page 30

HighclaTe School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued)
21.
Analysis of net assets between funds
Group
Unrestricted
funds
Restricted
Funds
Total
Funds
Fund balances at 31 August 2025 are
represented by:
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
5.155,236
2.541,284
12.353.9831
1382.880}
5.155.236
2.541.848
12,353.9831
1382,8801
564
Total nel assets
4,959,657
564
4,960,221
Unrealised gains included above on tangible
fixed assets
Company
Unre$tri¢ted
Funds
R¢strict¢d
Funds
Total
Funds
Fund balan¢es at 31 August 2025 are
represented by..
Tangible fixed assets
Investment
Current assets
Current liabilities
Long tem liabilities
7,407,347
7,407,347
2,541,284
12,353,983)
1382,8801
2,541,848
12,353,9831
1382,8801
Total nel assets
7.211,768
7,212,332
Unrealised gains included above on tangible
fixed assets
22.
Reconciliation of net income to net cash flow from operating activities
2025
2024
Nel income for year
185,1961
177,698
Rents received from Inveslrnent properties
Depreciation of tangible fixed assets
Surplus on disposal of tangible fixed assets
Amortisation of intangible fixed assets
Inlèresl payable
Ilncreasel in debtors
Increase in creclitors
18,2501
140,851
18,2501
177,491
31,907
66,989
1454,2511
45,622
188.9731
887,835
Nel cash flow from operating activities
1307,9501
1,192.423
Page 31

Highclare School
Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2025 (continued
23.
Transactlons involvlng Governors
Governors. interests in contracts.
During the financial year ending 31 August 2025. £nil12024 £90.8481 was invoiced by Jon Flowith
& Partners. The fees relate to building, planning and othèr complex strategic property mallers lor
the school. Mrs Louise Flowilh, the Chair of Governors and a p2rtner in that consulting practice.
absented herself from discussions and instructions lo the partnership, which were given expressly
lo her husband Jon Flowilh. a Chartered Surveyor, by designated Governors. All transactions were
provided on an arm's length basis and appropriate safegu2rds and govèrnance processes observed.
This amount was paid in the year ending 31 ALJgust 2025 No amounts have been accrued in respect
of the work done prior lo the year end bul not yel invoieed12024 £6,000).
As part of ils insurances the Group maintains cover for the Governors and officers against liabilities
in relation lo their duties lo the School. The cost for 2025 was £3.08012024." £3,080).
24.
Related party transactions
There is no controlling party. The Company has taken advantage of the exemptions not to disclose
inlra-group transactions on the basis that all subsidiaries are 1 OOVO owned and all transactions with
other Group companies are eliminated in the consolidated financial slalements.
Page 32