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2025-08-31-accounts

Charity registration number 529111 (England and Wales) Company registration number 00926012

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr N Naru Mrs H Forshaw M Ali P J W Bridgwood

J K De-Viell M T Malecki P Rishi J C Roberts R Southwood

(Appointed 16 June 2025) (Appointed 18 September 2025)

(Appointed 16 June 2025) (Appointed 26 March 2025) (Appointed 26 March 2025)

Charity number (England and Wales) 529111 Company number 00926012 Registered office Clarence Road Horsforth Leeds LS18 4LB

Auditor Hentons Northgate 118 North Street Leeds West Yorkshire LS2 7PN

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

CONTENTS

Page
Trustees report 1 - 13
Independent auditor's report 14 - 16
Statement of financial activities 17
Balance sheet 18
Statement of cash flows 19
Notes to the financial statements 20 - 33

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

INTRODUCTION

The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their report together with the financial statements of The Froebelian School (Horsforth) Limited ("the School" or "the Charity") for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the School's Memorandum and Articles of Association, the Companies Act 2006, and the Statement of Recommended Practice Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with FRS 102.

OBJECTIVES AND ACTIVITIES

Objectives of the Charity

The Froebelian School exists to advance education and training by the provision and conduct of a day school or schools, including nursery and early years provision, for the education and care of children. Insofar as it is incidental or ancillary to this purpose, the Charity may also pursue other exclusively charitable purposes for the benefit of the local and wider community.

Principal Activity

The Charity's principal activity is the operation of The Froebelian School, an independent preparatory school in Horsforth, Leeds. The School offers:

In addition, First Steps Nursery is our stand-alone nursery provision for children from 3 months to 5 years. It provides childcare of the highest standard, promoting independence, academic achievements, free choice play and self-help skills.

First Steps at Froebelian was awarded the highest accolade “OUTSTANDING” by Ofsted in 2016 and again in 2022. The nursery follows the Froebelian School’s Ethos and is an integral part of our outstanding offering for children from 3 months to 11 years.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

STRATEGY AND OBJECTIVES

Vision

To be a small school of big impact where every child is known, valued and inspired to flourish.

Mission

To provide an exceptional education that nurtures the whole child, enables every pupil to fulfil their potential, and equips them with the confidence, character and compassion to thrive beyond Froebelian.

Values

The School community lives by four core values, co-created with children, staff, parents and trustees:

Our Distinctive Approach: Think Differently

The Froebelian School's "Think Differently" philosophy is at the heart of our educational approach and sets us apart in the Leeds independent schools sector. Our eight "Think" principles guide how we educate, lead and support every child:

This distinctive approach permeates every aspect of Froebelian life, from curriculum design to pastoral care, from staff development to community engagement. It is the lens through which we make decisions, evaluate our practice, and measure our success as a school community.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Strategic Objectives

The Froebelian School aims to be the school of choice in Leeds for children aged 2–11 by:

1. Safeguarding, Pastoral Care & Wellbeing

2. Excellence in Teaching & Learning

3. Breadth of Opportunity & Enrichment

4. Community & Social Responsibility

5. Sustainability & Financial Stewardship

6. Employer of Choice

7. Public Benefit

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

ACHIEVEMENT AND PERFORMANCE

Headteacher Overview

The academic year was characterised by strong pupil outcomes, rich co-curricular provision and continued development of our values-led, wellbeing-centred ethos.

Across the School, children continued to achieve highly relative to their starting points. Pupils left at the end of Year Six ready for the next stage of their education and life, securing places at a range of selective and non-selective senior schools, with a number receiving scholarship or exhibition awards. 100% of children received an offer to their first choice of Senior School.

The School continued to strengthen its culture of “small school, big impact”:

Educational and Pastoral Outcomes

Key achievements during the year included:

Safeguarding and wellbeing remained central to school life, with children encouraged and supported to speak to trusted adults if worried about themselves or others. Anti-bullying work, online safety education and wellbeing initiatives were embedded through assemblies, PSHE, form time and thematic weeks.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Sport, Outdoor Learning and Enrichment

Pupils benefitted from a broad and ambitious programme of sport and physical activity, including:

Outdoor learning continued to be an important part of the experience at Froebelian, with children taking part in activities designed to build resilience, collaboration, problem-solving and appreciation of the natural environment.

A wide range of clubs was offered before, during and after school, including creative arts, music, drama, STEM, languages, sport and wellbeing activities. This provision plays a significant role in developing confidence, character and curiosity.

Creative and Performing Arts

Music, drama and art remain strong features of the School’s identity. Over the year:

These experiences provide children with valuable opportunities to perform, collaborate and express themselves, and are integral to the School’s holistic view of education.

FINANCIAL REVIEW

Financial results for the year

For the year ended 31 August 2025, total incoming resources amounted to £2,473,290 (2024: £2,320,821) and total resources expended amounted to £2,446,888 (2024: £2,532,315), resulting in a net surplus of £26,402 (2024: deficit £211,494).

The Trustees continue to monitor the School's financial performance closely and to take appropriate actions to maintain its long-term viability.

Reserves policy

It is the policy of the School that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the School’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Reserves

The Trustees regularly review the adequacy of reserves to ensure the long-term future of the School is secure. At 31 August 2025, total unrestricted funds were £2,232,623. After excluding tangible fixed assets of £2,114,247, free reserves (unrestricted funds available for general use) were £118,376.

The year-end cash balance was £346,581 (2024: £138,237). The School has no borrowings and all assets are unencumbered.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Investment Policy

The investment powers of the School are governed by its Memorandum and Articles of Association. The Trustees' policy is to:

The Memorandum and Articles of Association prohibit the payment of dividends to members, and all investment income is applied for charitable purposes.

PRINCIPAL RISKS AND UNCERTAINTIES

The Trustees maintain an overview of the major risks to which the School is exposed and ensure that systems and procedures are in place to manage and mitigate these risks as far as is reasonably practicable.

Key areas of risk include:

1. Pupil Recruitment and Retention

Risk: Reduced demand due to economic pressures, VAT on school fees, demographic changes or increased competition from other independent and state schools.

Mitigations:

Active parent engagement to promote retention

2. Financial Pressures & VAT on Fees

Risk: Impact of 20% VAT on school fees (introduced January 2025) on affordability and enrolments, combined with continued cost inflation affecting margins.

Mitigations:

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

3. Safeguarding and Compliance

Risk: Safeguarding failure or non-compliance with Keeping Children Safe in Education and other regulatory frameworks (ISI, Charity Commission, Companies House, employment law, data protection).

Mitigations:

4. Staffing, Recruitment & Retention

Risk: Challenges recruiting and retaining high-quality teaching and support staff in competitive market, particularly in areas of national shortage (e.g., SEND, Early Years).

Mitigations:

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

5. Health & Safety / Operational Risks

Risk: Risks relating to the estate, IT systems, data protection, and day-to-day operations.

Mitigations:

6. Reputation

Risk: Reputational damage due to incident, communication failure, social media criticism or external perception.

Mitigations:

The risk register is reviewed regularly by senior leaders and trustees, and actions are taken to reduce risks to an acceptable level.

EDUCATIONAL FUTURE PLANS

At Froebelian, we remain steadfast in our mission to provide an exceptional, values-led education that nurtures the whole child. As we look ahead, our strategic educational development will build on our long-standing commitment to academic excellence, personal growth, and community engagement, all framed by our "Think Differently" approach.

Our future plans focus on four transformational pillars:

1. Future-Ready Learning

We are evolving our curriculum to ensure children are equipped with the skills they need to thrive in an everchanging world, embodying our "Think Entrepreneur" and "Think Skilfully" principles. This includes:

2. Flourishing Minds and Bodies

We will further embed wellbeing and performance enhancement into daily school life, supporting "Think Spirited" and "Think Presence" development:

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

3. Excellence Through Individualised Learning

Recognising the unique potential in every child, we will invest in approaches that honour "Think Different":

4. Strengthening Community and Opportunity

Froebelian will always be a family, and we aim to deepen these connections whilst embodying "Think Conscientious":

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Froebelian School (Horsforth) Limited is a company limited by guarantee and a registered charity. The company is governed by its Memorandum and Articles of Association dated 28 February 1969 (as subsequently amended).

Governance Structure

The Trustees are both the directors of the company and the charity trustees. They are responsible for:

The Trustees meet regularly during the year. During 2023-24, the governance structure underwent significant positive development, with increased parent representation bringing valuable insights into school life and strengthening the partnership between trustees, staff and families. This enhanced parental voice at governance level reflects our commitment to community engagement and ensures that decision-making is informed by direct experience of the Froebelian education.

The Trustee Board is supported by a committee structure including:

The restructured committee system has been particularly effective during 2024-25, providing focused oversight in key areas whilst enabling full Trustee meetings to concentrate on strategic priorities. Committees provide detailed scrutiny and report back to the full Trustee Board, creating a robust governance framework that supports the Headteacher and senior team whilst maintaining appropriate challenge.

The integration of new trustees has been carefully managed to ensure they quickly became effective contributors to governance. Existing trustees provided mentoring support, and new trustees were assigned to committees aligned with their interests and expertise.

Committee Structure Effectiveness

The restructured committee system implemented in 2023-24 has now fully embedded and is operating effectively:

Finance and General Purposes Committee

Provides detailed oversight of financial performance, budgets and forecasts; monitors the impact of VAT on school fees and cost pressures; reviews reserves policy and long-term financial planning; oversees major capital expenditure decisions; and ensures robust financial controls and risk management.

Education Committee

Monitors educational standards and pupil outcomes; reviews curriculum development and implementation of the "Think Differently" approach; oversees safeguarding and pastoral care arrangements; scrutinises pupil progress data and intervention strategies; and ensures compliance with regulatory requirements for educational quality.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Marketing and Admissions Committee

Oversees recruitment strategy and admissions process; monitors pupil roll trends and pipeline development; reviews marketing campaigns and brand positioning; ensures the School's distinctive "Think Differently" approach is effectively communicated; and tracks competitive environment and market positioning.

Bursary and Hardship Committee

Reviews bursary applications and awards; monitors hardship fund and supports families facing financial difficulty; ensures alignment between bursary provision and the School's charitable objectives; and evaluates the impact and sustainability of financial assistance.

Appointment, Induction and Training of Trustees

New Trustees are appointed based on skills, experience and diversity of perspective, following nomination and vetting procedures set out in the governing document. During 2024-25, the Trustees actively sought to increase parent representation, recognising the valuable contribution that current parent perspectives bring to governance. This approach has successfully broadened the Trustee's composition whilst maintaining an appropriate balance of educational, financial, legal, business and community expertise.

The skills-based approach to trustee recruitment ensures the Trustee Board has the breadth of knowledge needed to govern effectively. The Trustee Board maintains a skills audit and succession planning framework to identify gaps and plan for future appointments.

All Trustees give their time freely, and no Trustee received remuneration or other benefits for their role as a Trustee. Any related party transactions are disclosed in the financial statements in accordance with applicable accounting standards.

Trustee Changes During the Year

The Trustee Board is grateful to the below for their service and dedication to Froebelian during their time as governors.

The Trustee welcomed new trustees during 2024-25. These appointments have strengthened the Trustee's capacity and brought fresh perspectives to governance. The increased parent representation has been particularly valuable in ensuring that strategic decisions are informed by current family experience of the School.

Mr R Taylor (Resigned 5 July 2025) Mr N Naru Mrs R James (Resigned 28 July 2025) Mrs H Forshaw Mr M Jones (Resigned 16 October 2024) Mr S Bickerton Mrs C Davidson (Resigned 5 July 2025) Mrs C Johnson (Resigned 5 July 2025) M Ali (Appointed 16 June 2025) P J W Bridgwood J K De-Viell M T Malecki (Appointed 16 June 2025) P Rishi (Appointed 26 March 2025) J C Roberts (Appointed 26 March 2025) R Southwood

(Resigned 28 July 2025)

(Resigned 16 October 2024) (Resigned 14 February 2025) (Resigned 5 July 2025) (Resigned 5 July 2025) (Appointed 16 June 2025) (Appointed 18 September 2025)

(Appointed 16 June 2025) (Appointed 26 March 2025) (Appointed 26 March 2025)

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Ongoing Governor Development

The Trustee is committed to continuous improvement in governance effectiveness. During 2024-25, Trustees participated in:

The engagement and diverse perspectives within the Trustee Board have contributed to more robust discussions, well-informed decision-making, and effective oversight during a challenging period for the independent schools sector.

Management

The Trustee Board delegates the day-to-day management of the School to the Headteacher, Mrs A Coulson, who is the chief executive officer of the organisation. The Headteacher is supported by the Senior Leadership Team comprising:

The relationship between trustees and the senior leadership team has been characterised by constructive challenge, mutual respect and shared commitment to Froebelian's mission. Trustees receive regular reports on educational performance, financial position, safeguarding, and operational matters, enabling them to provide effective oversight whilst respecting the professional autonomy of the leadership team.

Operational management covers:

Statement of Trustees responsibilities

The Trustees (who are also the directors of The Froebelian School (Horsforth) Limited for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK 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 charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company, 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as each of the Trustees is aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the School's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

Henton & Co LLP, Chartered Accountants, were re-appointed as auditor during the year and have expressed their willingness to continue in that capacity.

Disclosure of information to auditor

Each of the School Trustee’s has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees report was approved by the Trustees.

J C Roberts Chair of Trustees

16 December 2025

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

Opinion

We have audited the financial statements of The Froebelian School (Horsforth) Limited (the ‘School’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of 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:

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 School 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 School’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the School and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the School 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 School’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

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Howitt (Senior Statutory Auditor)

For and on behalf of Hentons, Statutory Auditor Chartered Accountants Northgate 118 North Street Leeds West Yorkshire LS2 7PN 16 December 2025

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Charitable activities
3
2,292,498
-
Other trading activities
5
174,966
-
Investments
4
5,826
-
Total income
2,473,290
-
Expenditure on:
Charitable activities
6
2,415,000
31,888
Total expenditure
2,415,000
31,888
Net income/(expenditure)
58,290
(31,888)
Transfers between
funds
(21,130)
21,130
Net movement in
funds
8
37,160
(10,758)
Reconciliation of funds:
Fund balances at 1 September
2024
2,195,463
10,758
Fund balances at 31 August
2025
2,232,623
-		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
2,292,498
2,307,171
-
174,966
7,191
-
5,826
6,459
-
2,473,290
2,320,821
-
2,446,888
2,473,268
59,047
2,446,888
2,473,268
59,047
26,402
(152,447)
(59,047)
-
-
-
26,402
(152,447)
(59,047)
2,206,221
2,347,910
69,805
2,232,623
2,195,463
10,758		 Total
2024
£
2,307,171
7,191
6,459
2,320,821
2,532,315
2,532,315
(211,494)
-
(211,494)
2,417,715
2,206,221

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 20 to 33 form part of these financial statements.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets/(liabilities)
Total assets less current liabilities
The funds of the School
Restricted income funds
17
Unrestricted funds
18		 2025
£
£
2,114,247
172,875
346,581
519,456
(401,080)
118,376
2,232,623
-
2,232,623
2,232,623		 2024
£
£
2,211,089
198,129
138,237
336,366
(341,234)
(4,868)
2,206,221
10,758
2,195,463
2,206,221

The notes on pages 20 to 33 form part of these financial statements.

The financial statements were approved by the Trustees on 16 December 2025

J C Roberts Chair of Trustees

Company registration number 00926012 (England and Wales)

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
23
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from/(used in) investing
activities
Net cash generated from financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(15,982)
41,935
5,826		 £
176,565
31,779
-
208,344
138,237
346,581		 2024
£
£
(167,682)
(32,037)
-
6,459
(25,578)
-
(193,260)
331,497
138,237

The notes on pages 20 to 33 form part of these financial statements.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

The Froebelian School (Horsforth) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Clarence Road, Horsforth, Leeds, LS18 4LB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the School's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The School is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the School. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. 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 School 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 those donated for use in a particular area or are for specific purposes, the use of which is restricted to that area or purpose.

1.4 Income

Income is recognised when the School 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.

Cash donations are recognised on receipt. Other donations are recognised once the School 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. Donations receivable for the general purposes of the Charity are credited to Unrestricted Funds. Donations for purposes restricted by the wishes of the donor are taken to Restricted Funds where these wishes are legally binding on the Trustees, except that any amounts required to be retained as capital in accordance with the donor's wishes are accounted for instead as Endowments - permanent or expendable according to the nature of the restriction.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for fees for the school year ending 31 August.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

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.

Direct expenditure is summarised under functional headings on a direct cost basis. For overhead costs, it is apportioned according to management estimates. The irrecoverable element of VAT is included with the item of expense to which it relates.

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 has been provided on tangible assets to write off the cost over their useful lives adopting the following rates and bases:

Land and buildings 1% straight line Fixtures, fittings & equipment 20% reducing balance IT equipment 33.33% straight line

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 School 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).

1.8 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.

1.9 Financial instruments

The School 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 School's balance sheet when the School 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.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the School’s contractual obligations expire or are discharged or cancelled.

1.10 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 School is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Pension arrangements are operated through a defined contribution scheme and a defined benefit scheme. The defined benefit scheme is provided by the Teachers Pension Scheme (TPS), which is externally funded and contracted out of the State Earnings Related Pension Scheme.

Contributions paid by the company to both schemes are charged to the Income and Expenditure account as they fall due. The contributions to the TPS are determined by qualified actuaries, on the basis of quinquennial valuations using a prospective benefit method.

1.12 True and Fair View

By the nature of its principal activities, the Company is a non-profit making organisation and because of this, a Profit and Loss Account is not included in these accounts, being replaced by a Statement of Financial Activities.

1.13 Donations

Donations receivable for the general purposes of the Charity are credited to Unrestricted Funds. Donations for purposes restricted by the wishes of the donor are taken to Restricted Funds where these wishes are legally binding on the Trustees, except that any amounts required to be retained as capital in accordance with the donor's wishes are accounted for instead as Endowments - permanent or expendable according to the nature of the restriction.

1.14 Share capital

The company has no share capital. The liability of the members is Limited by Guarantee, each member having undertaken to contribute such amount not exceeding one pound as may be required in the event of the company being wound up whilst he or she is a member, or within one year thereafter.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

2 Critical accounting estimates and judgements

In the application of the School’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.

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fees from school and nursery
Fees received 2,292,498 2,307,171
4 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 5,826 6,459

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 2,623 1,851
Profit on disposal of asset 172,343 -
Rental income - 5,340
Other income 174,966 7,191

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

6 Expenditure on charitable activities

Teaching
costs
Welfare
costs
Premises Management &
administration
Charitable
donations
2025
2025
2025
2025
2025
£
£
£
£
£
Direct costs
Staff costs
1,438,617
66,059
51,035
159,999
-
Depreciation and
impairment
46,856
-
24,033
-
-
Subcontract costs
82,468
-
-
-
-
Staff recruitment
2,563
-
-
-
-
School activities
143,100
-
-
-
-
Food and kitchen
expenses
-
83,411
-
-
-
Rates and repairs
-
-
179,822
-
-
Professional fees
-
-
-
72,037
-
VAT paid on fees
58,500
-
-
-
-
Bursaries paid
-
-
-
-
31,888
1,772,104
149,470
254,890
232,036
31,888
Share of support and governance costs (see note 7)
Governance
-
-
-
6,500
-
1,772,104
149,470
254,890
238,536
31,888
Analysis by fund
Unrestricted funds
1,772,104
149,470
254,890
238,536
-
Restricted funds
-
-
-
-
31,888
1,772,104
149,470
254,890
238,536
31,888		 Total
2025
£
1,715,710
70,889
82,468
2,563
143,100
83,411
179,822
72,037
58,500
31,888
2,440,388
6,500
2,446,888
2,415,000
31,888
2,446,888
(Continued) Total 2024 £ 1,754,128 81,685 72,399 2,725 186,038 92,160 193,383 85,710 59,047 2,527,275 5,040 2,532,315 2,473,268 59,047 2,532,315
Charitable donations 2024 £ - - - - - - - - 59,047 59,047 - 59,047 - 59,047 59,047
Premises Management & administration 2024
2024		 £
£		 48,201
167,549		 24,437
-		 -
-		 -
-		 -
-		 -
-		 193,383
-		 -
85,710		 -
-		 266,021
253,259		 -
5,040		 266,021
258,299		 266,021
258,299		 -
-		 266,021
258,299
Welfare costs 2024 £ 48,381 - - - - 92,160 - - - 140,541 - 140,541 140,541 - 140,541
Teaching costs 2024 £ 1,489,997 57,248 72,399 2,725 186,038 - - - - 1,808,407 - 1,808,407 1,808,407 - 1,808,407
Expenditure on charitable activities Previous year: Direct costs Staff costs Depreciation and impairment Subcontract costs Staff recruitment School activities Food and kitchen expenses Rates and repairs Professional fees Bursaries paid Share of support and governance costs (see note 7) Governance Analysis by fund Unrestricted funds Restricted funds
6

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

7 Support costs allocated to activities

7
Support costs allocated to activities
Governance costs
Analysed between:
Management & administration
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets		 2025
£
6,500
6,500
2025
£
6,500
70,889		 2024
£
5,040
5,040
2024
£
5,040
81,685

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the School during the year.

10 Employees

The average monthly number of employees during the year was:

Teachers
Teaching Assistants
Domestic
Administration
Nursery
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
11
13
7
5
24
60
2025
£
1,441,548
138,683
135,479
1,715,710		 2024
Number
13
13
6
6
26
64
2024
£
1,493,789
115,247
145,092
1,754,128

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Employees
The number of employees whose annual remuneration was more than £60,000
is as follows:
Teaching
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 (Continued)
2025
2024
Number
Number
1
1
2025
2024
£
£
291,278
261,532		 (Continued)
2025
2024
Number
Number
1
1
2025
2024
£
£
291,278
261,532
2024
£
261,532

10 Employees

11 Taxation

The company is a Registered Charity providing educational needs and as such is exempt from taxation.

12 Tangible fixed assets

Tangible fixed assets
Cost
At 1 September 2024
Additions
Disposals
At 31 August 2025
Depreciation and impairment
At 1 September 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 August 2025
Carrying amount
At 31 August 2025
At 31 August 2024		 Land and
buildings
£
2,443,739
-
(60,663)
2,383,076
400,595
23,827
(18,728)
405,694
1,977,382
2,043,145		 Fixtures,
fittings &
equipment
£
760,246
15,984
-
776,230
592,303
47,062
-
639,365
136,865
167,944		 Total
£
3,203,985
15,984
(60,663)
3,159,306
992,898
70,889
(18,728)
1,045,059
2,114,247
2,211,089

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

13
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
154,822
Prepayments and accrued income
18,053
172,875
14
Creditors: amounts falling due within one year
2025
Notes
£
Other taxation and social security
83,548
Deferred income
15
111,601
Trade creditors
133,432
Other creditors
57,681
Accruals
14,818
401,080
15
Deferred income
2025
£
Other deferred income
111,601
Deferred income is included in the financial statements as follows:
2025
£
Deferred income is included within:
Current liabilities
111,601
Movements in the year:
Deferred income at 1 September 2024
212,707
Resources deferred in the year
(101,106)
Deferred income at 31 August 2025
111,601		 2025
£
154,822
18,053
172,875
2025
£
83,548
111,601
133,432
57,681
14,818
401,080
2025
£
111,601		 2024
£
173,093
25,036
198,129
2024
£
28,126
212,707
32,549
55,856
11,996
341,234
2024
£
212,707
2024
£
212,707
109,210
103,497
212,707

Deferred income relates to fees for the forthcoming school term.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

16 Retirement benefit schemes

Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 135,479 145,092

The School operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the School in an independently administered fund.

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Resources Transfers At 31 August
September expended 2025
2024
£ £ £ £
Fundraising account (3,469) - 3,469 -
Restricted donations 37,661 - (37,661) -
Bursary and hardship (23,434) (31,888) 55,322 -
10,758 (31,888) 21,130 -
Previous year: At 1 Resources Transfers At 31 August
September expended 2024
2023
£ £ £ £
Fundraising account (3,469) - - (3,469)
Restricted donations 37,661 - - 37,661
Bursary and hardship 35,613 (59,047) - (23,434)
69,805 (59,047) - 10,758

The fundraising account refers to fundraising carried out by the School specifically for the purpose of making donations to other charitable bodies.

The School, in recognition of its charitable status, established a bursary fund to provide support for current and future pupils who experience difficulties in meeting their financial commitment to the School.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

18 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
Incoming
resources
Resources
expended
£
£
£
General funds
2,195,463
2,473,290
(2,415,000)
Previous year:
At 1
September
2023
Incoming
resources
Resources
expended
£
£
£
General funds
2,347,910
2,320,821
(2,473,268)		 Transfers At 31 August
2025
£
£
(21,130)
2,232,623
Transfers At 31 August
2024
£
£
-
2,195,463

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 August 2025:
Tangible assets
2,114,247
-
Current assets/(liabilities)
118,376
-
2,232,623
-
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 August 2024:
Tangible assets
2,211,089
-
Current assets/(liabilities)
(15,626)
10,758
2,195,463
10,758		 Total
2025
£
2,114,247
118,376
2,232,623
Total
2024
£
2,211,089
(4,868)
2,206,221

20 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

21 Pension costs

The School makes pension contributions under the Teacher's Pension Scheme (TPS) and The Pensions Trust Growth Plan. The assets of both schemes are held separately from those of the company in independently administered funds. The amounts recognised in the Statement of Financial Activities as an expense for both schemes was £135,479 (2024: £145,092). Included in creditors at the year end was a balance of £17,838 (2024: £20,281 in respect of unpaid contributions.

In January 2025 all teachers apart from one moved from the Teacher's Pension Scheme to Aviva. The last remaining teacher on the Teacher's Pension Scheme left the school in August 2025.

THE PENSION TRUST GROWTH PLAN

The Charitable Company participates in the scheme, a multi-employer scheme which provides benefits to some 1,300 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

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

A full actuarial valuation for the scheme was carried out at 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions
From 1 April 2019 to 31 January 2025: £11,243,000 per annum (payable monthly and
increasing by 3% each on 1st
April)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2014. This valuation showed assets of £793.4m, liabilities of £969.9m and a deficit of £176.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2016 to 30 September 2025: £12,945,440 per annum (payable monthly and
increasing by 3% each on 1st
April)
From 1 April 2016 to 30 September 2028: £54,560 per annum (payable monthly and
increasing by 3% each on 1st
April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

21 Pension costs

(Continued)

TEACHERS' PENSION SCHEME (TPS)

Introduction

The Teachers' Pension Scheme (TPS or scheme) is a statutory, unfunded, defined benefit occupational scheme, governed by the Teachers' Pensions Regulations 2010 (as amended), and the Teachers' Pension Scheme Regulations 2014 (as amended). These regulations apply to teachers in schools and other educational establishments, including academies, in England and Wales that are maintained by local authorities. In addition, teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishments of further and higher education may be eligible for membership. Membership is automatic for full-time teachers and lecturers and, from 1 January 2007, automatic too for teachers and lecturers in part time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS.

The Teachers' Pension Budgeting and Valuation Account

Although members may be employed by various bodies, their retirement and other pension benefits are set out in regulations made under the Superannuation Act (1972) and Public Service Pensions Act (2013) and are paid by public funds provided by Parliament. The TPS is an unfunded scheme and members contribute on a 'pay as you go' basis - contributions from members, along with those made by employers, are credited to the Exchequer under arrangements governed by the above Acts.

The Teachers' Pension Regulations 2010 require an annual account, the Teachers' Pension Budgeting and Valuation Account, to be kept of receipts and expenditure (including the cost of pension increases). From 1 April 2001, the Account has been credited with a real rate of return, which is equivalent to assuming that the balance in the Account is invested in notional investments that produce that real rate of return.

Valuation of the Teachers' Pension Scheme

As a result of the latest scheme valuation employer contributions were increased in September 2019 from a rate of 16.4% to 23.6%. Employers also pay a charge equivalent to 0.08% of pensionable salary costs to cover administration expenses.

The next valuation is expected to take effect in 2023

A copy of the latest valuation report can be found on the Teachers' Pension Scheme website.

Scheme Changes

In December 2018, the Court of Appeal held that transitional protection provisions contained in the reformed judicial and firefighter pension schemes, introduced as part of public service pension reforms in 2015, gave rise to direct age discrimination and were therefore unlawful. The Supreme Court, in a decision made in June 2019, rejected the Government's application for permission to appeal the Court of Appeal's ruling and subsequently referred the case to an Employment Tribunal to determine a remedy which will need to be offered to those members of the two schemes who were subject of the age discrimination.

Since then, claims have been lodged against the main public service schemes including the TPS. The Department has conceded those in line with the rest of the government. In July 2020 HM Treasury launched a 12-week public consultation which will provide evidence to support the delivery of an appropriate remedy for the affected schemes, including TPS.

A final remedy will be determined once the results of the consultation are established.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

21 Pension costs

(Continued)

In December 2019, a further legal challenge was made against the TPS relation to an identified equalities issue whereby male survivors of opposite-sex marriages and civil partnerships are treated less favourably than survivors in same-sex marriages and civil partnerships. The Secretary of State for Education agreed not to defend the case. In June 2020, the Employment Tribunal recorded its findings in respect of the claimant. DfE is currently working to establish what changes are necessary to address this discrimination.

22 Analysis of changes in net funds

The School had no debt during the year.

23 Cash generated from/(absorbed by) operations 2025 2024
£ £
Surplus/(deficit) for the year 26,402 (211,494)
Adjustments for:
Investment income recognised in statement of financial activities (5,826) (6,459)
Depreciation and impairment of tangible fixed assets 70,889 81,685
Movements in working capital:
Decrease/(increase) in debtors 25,254 (80,027)
Increase/(decrease) in creditors 160,952 (54,884)
(Decrease)/increase in deferred income (101,106) 103,497
Cash generated from/(absorbed by) operations 176,565 (167,682)