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2025-08-31-accounts

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited A Company Limited by Guarantee

Strategic Report, Report of the Governors and Financial Statements 31st August 2025

Company Registered Number: 00702484

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Contents

Report of the Governors 3
Strategic Report 8
Independent Auditor's Report to the Members of Gateways Educational Trust Limited 11
Statement of Financial Activities 15
Balance Sheet 16
Cash Flow Statement 17
Notes to the Financial Statements 18

Company Registered Number: 00702484

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Report of the Governors: Reference and Administrative Information

Governors and Charity Trustees

The Governors of the school are also the Charity Trustees and the Directors of the Company. The Governors are permanent members and they are not subject to retirement by rotation. The following governors served during the year:

Name Role Committee
Membership		 Notes Meeting Attendance Meeting Attendance Meeting Attendance
16.06.25 31.03.25 25.11.24
Mr S Watson BA FCA Chairman Finance
Committee		 Resigned 25 November 2024 X
Mrs M Calvert BA (Hons), MA X
Mr C J Chambers ACA, Llb,
Barrister		 Chair of Finance Finance
Committee		 Resigned 31 March 2025
Sir Roger Marsh OBE, DL, BSc, FCA Finance Governor Finance
Committee		 X X X
Dr J. Matharoo Academic Governor X
Mr R M Webster, BSc, MRICS Chair of Health & Safety X X
Mrs J. Borlant Mental Health &
WellbeingGovernor		 Resigned 18 February 2026 X X
Ms. N Stephens Safeguarding Governor X X X
Mr N Machugh Chairman Finance
Committee		 X X X
Mrs T Lorence X
Mr D Mountain Chair of Finance Finance
Committee		 Appointed 10 February 2026

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Officers

The Head: Dr T Johnson BSc (Hons), PhD, PGCE Company Secretary: Miss E Amos Gateways School Harewood Address: Leeds LS17 9LE Website: www.gatewaysschool.co.uk

Professional Advisers

National Westminster Bank PLC 8 Park Row Banker: Leeds LS1 1QS Ison Harrison VWV Duke House, PO Box 3501 Solicitors: 54 Wellington Street, Bristol Leeds, BS2 2FL LS1 2EE Saffery LLP 10 Wellington Place Auditor: Leeds LS1 4AP

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Report of the Governors

Gateways School Governors, who are directors of the company for the purposes of company law, present their annual report and strategic report for the year ending 31 August 2025 together with the audited accounts for this year.

The accounts have been prepared to comply with the requirements of the Companies Act 2006, applicable accounting standards, the Trust Deed and the Charities SORP FRS 102.

Gateways Educational Trust Limited (the Charity) was founded in 1941 and is registered with the Charities Commission in England and Wales, number 529206. It is also a Company Limited by Guarantee, number 00702484. The Gateways School Governors, executive officers and principal address of the Charity are listed on pages one and two along with details of all principal advisers.

Structure, Governance and Management

Governing Document

The Charity is governed by the provisions of the Memorandum and Articles of Association which were reviewed and updated in November 2005.

Governing Body

Governors are elected at a meeting of the Board of Governors having been recommended on the basis of eligibility, personal competence, specialist skills and availability.

Recruitment and Training of Governors

The Charity has a Governors’ Nominations Committee whose purpose is to facilitate the recruitment and training of Governors.

Organisational Management

The Governors meet at least three times a year to determine the general policy of the Charity and to review its overall management and control, for which they are legally responsible. The work of implementing most of the Board’s policies is carried out by sub committees which meet prior to each meeting of the full Governing Board. The day-to-day management of the School is delegated to the Head and the Leadership Team.

Organisational Structure and Relationship

The school is an active member of the Independent School Council (ISC) for the promotion and protection of the independent education sector. It is also an active member of the Society of Heads, Independent Schools’ Bursars Association and the Association of Governing Bodies of Independent Schools.

Objectives for the year

This year the Board’s main objective continued to be to educate all the school’s pupils to at least the high standard achieved by the School in previous years so that they will be able to benefit from the opportunities available to them on leaving Gateways.

In setting our objectives and planning its activities, the Governors have given careful consideration to the Charity Commission’s guidance on Public Benefit, and in particular that which relates to advancing education and on fee-charging.

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Specific objectives for the year included:

Strategies to achieve this year’s objectives were to:

Public Benefit

Access Policy

The school reaches out to the wider community in a variety of ways. It collaborates with a number of local charities and organisations to widen public access to our schooling. It also optimises the use of our cultural and sporting facilities and to cultivate in our pupils an awareness of the social context of the education they receive at the school.

The school believes that pupils benefit from learning within a diverse community and that this is maximised through social interaction, conversation and shared experiences. Pupils at Gateways are universally encouraged to join the Community Outreach programme and to work on fundraising projects for the benefit of their nominated charities. This year, amongst a number of beneficiaries, £900 was raised for Red Nose Day from the fundraising efforts of our pupils.

Throughout the year the school’s Performing Arts Centre and Sports Hall have been used by a number of community groups. Holiday clubs and one-off events using the facilities offer opportunities in music, dancing, drama and variety of sports and netball on a weekly basis. Clubs are open to all children irrespective of the school they attend and offer a wide range of experiences.

The education of the pupils at the expense of the parents will have saved the Treasury an estimated £3.85 million per annum, assuming a cost of £7,690 to educate a pupil in the state system, according to information published by the Independent Schools Council.

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Scholarships and Bursaries

Our bursary and scholarship programme contributes to a widening of access to the education we offer and the facilities we enjoy.

Bursary Policy

Applications are invited annually for the Bursary Fund from families who would otherwise not be able to afford the fees but whose children would benefit from the education offered by the school.

Awards range from 5% to 100% remission of fees and are subject to means testing.

Any pupil who meets the general entry requirement is eligible to apply for financial support. A number of factors are considered, including income, savings and investments, out-goings, and family circumstances e.g., dependent relatives and number of siblings.

All bursaries are reviewed annually to ensure that beneficiaries continue to meet the means tested criteria.

We also support the families of existing pupils who experience temporary hardship where that hardship places the pupil’s education and future prospects at risk which in normal times this includes illness or redundancy.

Scholarships

Scholarships are awarded to pupils on the basis of merit. Candidates are invited to attend an interview with the Head followed by an assessment and/or examination as appropriate.

Awards of up to 25% of fee remission are available for excellence in:

Awards of 5% to 25% of fee remission are available for academic excellence.

Exhibition Scholarships may be offered to candidates showing all round promise in more than one area as described above.

Foundation Scholarships may be awarded at the discretion of the Head.

Bursaries and scholarships totalling £636,511 were awarded to 126 pupils during the year (2024: £626,500 to 122 pupils).

Review of Achievements and Performance in the Year

The school continued to provide an outstanding level of education with excellent academic results.

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Reserves Policy

Free reserves in accordance with FRS 102 is based on net current assets excluding equipment leases. On 31 August 2025 this amount has been calculated as £0 (2024: £0).

The Governors consider that available cash is the best indicator of their financial position and consequently available cash is monitored rather than the free reserves position as stipulated by FRS 102.

The school has unrestricted reserves of £13,713,177, comprising £10,245,805 in a revaluation reserve and £3,467,372 in retained surpluses. The revaluation reserve is excluded from free reserves, as it is only realisable on the disposal of the related tangible fixed assets. In addition, the retained surpluses are also substantially represented by tangible fixed assets and are therefore not available as free reserves, other than through the disposal of those assets.

The school aims to continue to provide high quality facilities to enhance educational, cultural and sporting life of pupils and also to become carbon neutral. The Governors seek to achieve this by implementing a programme of on-going capital investment in existing and new facilities. This investment includes the Old Vicarage to improve sixth form facilities which opened in September 2022 and during the summer of 2023 a refurbishment was started on the Old Music House to further improve the sixth form offering. This was completed in September 2023. In the year 2024/2025, several garden pods were added to finish The Old Vicarage conversion to the Sixth Form Centre. Future projects include a potential extension to the Prep school building. As can be seen, projects such as this increase the value of tangible fixed assets at the expense of free reserves.

This programme will be financed from the proceeds of fund-raising activities, available unrestricted funds and further bank borrowing. The Governors feel that debt servicing can be prudently covered by cash generated from operating activities. However, the desire for continued investment will be balanced against the need to ensure the school has adequate and appropriate liquid reserves at all times.

Fundraising

The School co-ordinates low-level fund-raising activities for a range of local and national charities such as Children in Need, Red Nose Day, Save the Children etc. We also undertake fundraising to benefit the School as a whole to support specific projects for new equipment for example. These are either led by the School or its employees. We are not registered with the fundraising regulator or with any professional fundraisers or commercial participators.

Investment Policy and Performance

The Governors Investment Policy is to retain surplus funds on short-term deposits with the major clearing banks in order to fulfil the funding requirements of the School Development Plan.

Taxation Status

Gateways Educational Trust is considered to pass the test set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3-part II Corporation Tax Act 2010 or section 256 of the Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively for charitable purposes.

Other Information

An indication of likely future developments in the school and particulars of significant events which have occurred since the end of the financial year have been included in the Strategic Report on page 10.

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Statement of Trustees’ Responsibilities

The trustees, who are also directors of Gateways Educational Trust 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 (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the 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 the Trustees are aware:

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Trustees’ Strategic Report

Principal Activity

The school’s principal activity is the provision of education for pupils aged from 2 to 18 years.

Aims and Objectives

The objective of the school is to continue to provide a first-class education which will enrich the lives of its pupils and prepare them for challenges of the modern global world.

Strategic Aim and Intended Effect

The school’s strategic aim to reach its annual objective is the attainment of the highest academic levels, whilst allowing pupils to benefit from all aspects of the curricular and extra-curricular programme. This aims to develop both academic and social skills and prepare them for adult life.

Through our Prep and High schools, we aim to provide a first-class education to pupils from the ages of 2 to 18 within an average class size model of 16 pupils in a class. We seek to provide a structured educational environment that develops our pupils’ capabilities, competencies and skills. We promote academic, moral and physical development of our pupils through our academic curriculum, pastoral care, sporting and other activities. We provide an educational environment where each pupil can develop and fulfil his or her potential, building their self-confidence and inculcating a desire to contribute to the wider community. In so doing, we prepare our pupils for the opportunities, responsibilities and experience of later life.

Operational Performance of the School

This year, once again, saw excellent performance in the public examinations.

At A level, over 90% of candidates secured their first or second choice of university. A 100% pass rate and 88% of all grades awarded in the A*-C range demonstrates fulfilment of the aims of this non-academically selective school.

At GCSE, 80% of all grades were awarded in the 9-5 range and 93% of candidates achieve 5 or more good GCSE passes.

Once again, this year, Gateways pupils have achieved recognition at all levels for their efforts in both sport and the arts.

Within the school we have continued to offer a diverse range of peripatetic music lessons and New Era Drama Academy training and examinations. Pupils continued to achieve very high levels of success in both of these areas.

The number of extra-curricular activities on offer continues to excite and challenge all who participate. The Duke of Edinburgh Award Scheme remains popular, with many pupils going on to reach gold standard.

The Combined Cadet Force (CCF) continues to be our very strong and meaningful Independent School – State School partnership with Horsforth School under the Cadet Expansion Programme.

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities for the year.

Financial Review and Results for the Year

The school generated earnings before interest and depreciation of £464,363 (2024: £529,615).

The operating results show a deficit of £129,878 (2024: deficit of £167,315).

The number of pupils on the roll has increased during the year from 519 at the start of the year to 533 pupils on 31 August 2025.

Going concern

The Trustees have taken account of the current economic environment in developing the budgets and forecasts for the coming years and are confident that the school is well placed to continue to offer its services for the foreseeable future and has the continued support of its providers of finance.

Risk Management

The Governors have examined the principal areas of the school’s operations and have considered the major risk factors faced in each of those areas. These risks include pupil outcomes, safeguarding, governance, economic, financial , IT and data, human resources and health & safety

Key controls used by the charity to minimise risk include:

The Trustees ensure internal financial control is maintained by having a system of regular management information reports, clear administrative and financial procedures and clear lines of accounting. No fundamental weaknesses in systems and controls have been identified in the year.

The Trustees consider that an internal audit function is not required based on the relative size of the school, the risks identified, and controls in place to mitigate these risks.

In the opinion of the Governors, the school has ensured that under normal conditions, risks are mitigated to an acceptable level in its day-to-day operations.

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Future Plans

Due to increases in pupil numbers in recent years Prep School pupils’ classes have had to be based outside of the designated building. Planning permission for a new Prep Building next to the Sports Hall with a link to the existing building has been received. This will allow all the Prep School pupils to be based in the same building as well as giving some expansion capacity for other age groups. There is no agreed start date yet for this project.

Auditor

Saffery LLP have expressed their willingness to continue in office.

Strategic report

In accordance with section 414C (11) of the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013, the company has prepared a Strategic Report, which includes information that would have previously been included in the Report of the Governors. The Trustees authorise both the Strategic Report and the Report of the Governors below.

Approved by the Board of the Governors at this meeting on ………………………. 2026 and signed on its behalf by: 27 May

David Mountain Governor

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Independent Auditor’s Report to the Members of Gateways Educational Trust Limited: A Company Limited by Guarantee

Opinion

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

In our opinion the financial statements:

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 charitable company 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

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 the audit:

Matters on which we are required to report by exception.

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report and Strategic Report.

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 7, the trustees (who are also directors of the charitable company for the purposes 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 charitable company’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 to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.

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

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates.

Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales. Further, the charity is subject to other laws and regulations where the consequences of non-compliance could have a material effect on the amounts and disclosures in the financial statements, through significant fine, litigation or restrictions in the charity’s operations. We identified the most significant laws and regulations to be the Independent School Standards as found in the Education and Skills Act 2008 and guidance issued by the Department for Education.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

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.

Sally Appleton Senior Statutory Auditor

For and on behalf of Saffery LLP

Chartered Accountants

Saffery LLP 10 Wellington Place Leeds LS1 4AP

Statutory Auditors

Date: 28 May 2026

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Statement of Financial Activities: Year Ending 31[st] August 2025

Notes
Income from:
Charitable activities
Fees receivable
Less: Scholarships and bursaries and special discount
Net fees receivable
Investments
Bank and other interest
Other trading activities
Sundry income
3
Voluntary sources
Donations / Grants
3
Total income
Expenditure:
Raising funds
Financing costs
7
Cost of other activities
4
Charitable activities
Education
Total expenditure
8
Net (expenditure)/income for the year
Net movement in funds
Balances as at 1 September 2024
Balances carried forward at 31 August 2025		 2025
2024
Unrestricted
Unrestricted
£
£
9,355,163
8,861,734
-832,484
-796,889
8,522,679
8,064,845
46,594
15,915
92,019
92,631
26,711
80,522
8,688,003
8,253,913
-274,844
-241,142
-33,320
-40,340
-308,164
-281,482
-8,509,717
-8,139,746
-8,817,881
-8,421,228
-129,878
-167,315
-129,878
-167,315
13,713,177
13,880,492
13,583,299
13,713,177

The notes on pages 18 to 31 form part of these financial statements.

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Balance Sheet as at 31[st] August 2025

Note
Fixed Assets
Tangible Fixed Assets
School's Land, Buildings and Equipment
9
Current assets
Debtors
10
Bank Current Account and Cash
Creditors: Due within one year
11
Net current liabilities
Total assets less current liabilities
Creditors: Due after more than one year
Loans and hire purchase.
Other Creditors
12
12
Accruals and deferred income
Fees in Advance
12
12
Total net assets
Funds
Unrestricted funds
14
Total funds		 2025
2024
£
£
17,392,10317,662,183
413,881
270,853
2,408,997
2,662,613
2,822,878
2,933,466
-3,869,314
-3,374,261
-1,046,436
-440,795
16,345,66717,221,388
-2,226,310
-40,000
-2,299,497
-50,000
-156,303
-339,755
-113,636
-1,045,078
-2,762,368
-3,508,211
13,583,29913,713,177
13,583,29913,713,177
13,583,29913,713,177

Approved by the Board on ……………………. and signed on its behalf by:27 May 2026

David Mountain Governor

The notes on pages 18 to 31 form part of these financial statements.

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Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Cash Flow Statement for the Year Ending 31[st] August 2025

Reconciliation of Incoming/(Outgoing) Resources to Net Cash Inflow from Operating Activities

Note
Cash flows from operating activities:
Net cash provided by operating activities
20
Cash flows from investing activities:
Interest
Purchase of property, plant and equipment
Net cash used in investing activities
Cash flows from financing activities:
Finance lease
Repayments of borrowing
Net cash provided by (used in) financing activities
Fees in advance scheme
Movement in fees in advance money due within one year
Movement in fees in advance money due in more than one year
Net cash introduced to (released from) the fees in advance scheme
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2025
2024
£
£
110,584
-56,608
-46,594
-15,913
-170,328
-297,621
-216,922
-313,534
-9,218
-43,976
-65,583
-61,714
-74,801
-105,690
-72,478
-
591,057
1,045,078
-72,478
1,636,135
-253,617
1,160,303
2,662,614
1,502,311
2,408,997
2,662,614

The notes on pages 18 to 31 form part of these financial statements.

17

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Notes to the Financial Statements

1. Constitution

The Company is incorporated as a company limited by guarantee and not having a share capital. There were eight members at 31 August 2025 each of whom has undertaken to contribute, if required, a maximum sum of £5 in the event of the company being wound up.

2. Accounting Policies

a. Basis of Preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS 102)), the Financial Reporting Standard 102 applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice as it applies for accounting periods beginning on or after 1 January 2015.

The particular accounting policies adopted by the Board are described below and have been applied consistently throughout the current and preceding year except as described below.

The financial statements are prepared on the historical cost basis except that freehold land and buildings are stated at their fair value and measured in accordance with the revaluation model.

There have been no material changes in accounting policies since the last financial statements.

b. Going Concern

The Governors have prepared these financial statements on the going concern basis as they do not intend to liquidate the charitable company or cease its operations, as such they have concluded that the charitable company’s financial position shows that this is realistic. Pupil retention and recruitment, meeting banking covenants and loan repayments, and the control of costs are all key to the charity continuing as a going concern, and as such these are all closely monitored, with detailed forecasts prepared and regular reviews taking place. The Governors have concluded that there are no material uncertainties that could have cast significant doubt over the charity’s ability to continue as a going concern for at least a year from the approval of the financial statements.

18

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

c. Tangible Fixed Assets

Where parts of an item of tangible fixed assets have different useful lives, they are accounted for as separate items of tangible fixed assets, for example land is treated separately from buildings. The school assesses at each reporting date whether tangible fixed assets (including those leased under a finance lease) are impaired. Land is not depreciated. The estimated useful lives are as follows:

Freehold buildings: 100 years straight line Temporary buildings: 30 years straight line Furniture, fittings and equipment: 5 to 20 years straight line Computer equipment: 3 to 5 years straight line Motor vehicles: 5 years straight line

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expect to consume an asset’s future economic benefits.

d. Revaluation

Land and buildings are stated at fair value less any subsequent impairment losses. Gains on revaluation are recognised in the Statement of Financial Activity and accumulated in unrestricted reserves.

All fixed assets are held for charitable purposes.

e. Impairment

Financial assets including trade and other debtors : a financial asset not carried at fair value is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably.

An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the estimated future cash flows discounted at the asset’s original effective interest rate.

For financial instruments measured at cost less impairment, an impairment is calculated as the difference between its carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the reporting date. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through the Statement of Financial Activity.

Non-financial assets: t he carrying amounts of the school’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. The recoverable amount of an asset is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.

19

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of asset that generates cash inflows from continuing use that are largely independent of cash inflows of other assets or groups of assets; the cash-generating unit (CGU). An impairment loss is recognised if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognised in Statement of Financial Activity. Impairment losses recognised in respect of CGUs are allocated to reduce the carrying amounts of the other assets in the unit (or group of units) on a pro rata basis. Impairment losses recognised for other assets are reversed only if the reasons for the impairment have ceased to apply.

Impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists . An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined net of depreciation or amortisation, if no impairment loss had been recognised.

f. Fees

Fees receivable consist of charges less allowances for the school year ended 31 August 2025. Fees are invoiced on a term-by-term basis and recognised as income in the period to which they relate.

g. Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of the resources. The irrecoverable element of VAT is included with the item of expense to which it relates.

h. Pension Schemes

The school contributes to the Teachers’ Superannuation Scheme at rates set by the Scheme Actuary and advised to the school by the Scheme Administrator. Premiums are charged to the Statement of Financial Activities in the accounting period for which they are payable.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

i. Finance and Operating Leases

Costs in respect of operating leases are charged on a straight-line basis over the lease term.

Leasing agreements which transfer to the company substantially all the benefits and risks of ownership of an asset are treated as if the assets had been purchased outright. The assets are included in fixed assets and the capital element of the leasing commitments is shown as obligations under finance leases. The lease rentals are treated as consisting of capital and interest elements. The capital element is applied to reduce the outstanding obligations and the interest element is charged against profit in proportion to the reducing capital element outstanding. Assets held under finance leases are depreciated over the useful lives of the equivalent owned assets.

j. Basic Financial Instruments

Trade and other debtors / creditors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction cost. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction (for example if payment is deferred beyond normal

20

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

business terms) then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.

Interest-bearing borrowings classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost using the effective interest method, less any impairment losses.

Cash and cash equivalents comprise cash balances and call deposits.

Advanced fee payment (composition) fees received represent a basic financial instrument and have been accounted for within creditors at cost.

k. Taxation

Gateways Educational Trust is considered to pass the test set out in Paragraph 1 Schedule 6 Finance Act 2010, and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by part 11 of the Corporation Tax Act 2010 or section 256 of the Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively for charitable purposes.

l. Critical Accounting Judgments and Key Sources of Estimation Uncertainty

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. If the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Fee debtor provision: a provision for impairment of fee debtors is established when there is objective evidence that the amounts due will not be collected in line with the usual fee collections due to financial difficulty of the debtors.

21

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

3. Donations and Grants

. Donations and Grants
Donations
Grants
Other Incoming Resources
Registration fees
Property lettings
Sundry income		 2025
2024
£
£
16,711
80,522
10,000
-
26,711
80,522
2025
2024
£
£
8,720
9,084
59,856
37,493
23,443
46,054
92,019
92,631

An amount of £10,000 was received from the Combined Cadet Force Association to be spent on a shipping container. This amount was received and spent within the year to 31[st] August 2025.

4. Expenditure

Governance costs include auditor remuneration as follows:
For the audit of the financial statements
For accountancy services
For other assurance and advisory services		 2025
2024
£
£
18,300
17,750
3,600
3,500
7,100
1,600
29,000
22,850

5. Staff Costs

. Staff Costs

Wages and salaries
Social security costs
Pension contributions



The average number of employees in the year was:
Teaching Full time
Part time
Administration
 2025
2024
£
£
4,199,9974,057,137
461,014
402,762
851,537
669,375
5,512,5485,129,274
2025
2024
No.
No.

55
53
23
24
46
44
124
121

22

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Number of employees whose emoluments fell within each of the following bands:

2025 2024
No. No.
£60,001 - £70,000 1 1
£70,001 - £80,000 1 -
£80,001 - £90,000 - -
£90,001 - £100,000 - -
£100,001 - £110,000 - -
£110,001 - £120,000 - -
£120,001 - £130,000
-		 1
£130,001 - £140,000 1 -
£140,001 - £150,000
-		 -
£150,001 - £160,000
-		 -
£160,001 - £170,000
-		 -
£160,001 - £180,000 - -
£180,001 - £190,000 - 1
£190,001 - £200,000 1 -

Employee pension rights are explained in note 18.

The key management personnel of the charity comprise the Head, Deputy Heads and Bursar. The total employee benefits of the key management personnel were £676,704 (2024: £591,502). The pay and renumeration of key management personnel are determined by the members of the Finance committee. In doing so they assess market rates from other independent schools.

6. Trustees Expenses and Remuneration

No remuneration or expenses were paid to the trustees for their services as trustees during the period.

Trustee indemnity insurance premium
. Finance and Other Costs
Loan interest
Other interest and charges
Bad debts
 2025
2024
£
£
1,460
1,849
2025
2024
£
£
200,428192,691
43,155
18,451
31,261
30,000
274,844241,142

7. Finance and Other Costs

23

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

8. Analysis of Total Expenditure
Staff costs Other Depreciation Total
(Note 5) (Note 9) 2025
£ £ £ £
Charitable Expenditure:
Teaching costs 5,007,977 1,812,502 - 6,820,479
Premises - 552,041 440,407 992,448
Support costs 504,571 192,219 696,790
Governance costs - 33,320 - 33,320
Total Education costs 5,512,548 2,590,082 440,407 8,543,037
Other expenditure:
Finance costs (Note 7) - 274,844 - 274,844
Total expenditure 5,512,548 2,864,926 440,407 8,817,881
Staff costs Other Depreciation Total
(Note 5) (Note 9) 2024
£ £ £ £
Charitable Expenditure:
Teaching costs 4,594,468 1,774,560 - 6,369,028
Premises - 596,028 455,788 1,051,816
Support costs 534,806 184,096 718,902
Governance costs - 40,340 - 40,340
Total Education costs 5,129,274 2,595,024 455,788 8,180,086
Other expenditure:
Finance costs (Note 7) - 241,142 - 241,142
Total expenditure 5,129,274 2,836,166 455,788 8,421,228

Support costs have been included in the above figures and allocated as follows: Staff costs: remuneration of administrative, marketing, resource, and other non-teaching staff. Other: marketing, legal and professional fees, printing, stationary, broadband, telephone, and postage.

24

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

9. Fixed Assets

Cost
At 1 September 2024
Additions
Disposals
Transfers
Revaluation
At 31 August 2025
Depreciation
At 31 August 2024
Charge for year
Disposals
At 31 August 2025
Net Book Value
At 31 August 2025
At 31 August 2024		 Freehold Land
and Buildings
Furniture,
Fixtures
and Fittings
Computer
Equipment
Vehicles
Projects
in
Progress
Total
£
£
£
£
£
£
17,836,446
1,037,149
470,926
38,489
200,384
19,583,394
2,810
149,009
966
6,900
10,643
170,328
-
-
-
-
-
-
52,080
3,540
-
-
-55,620
-
-
-
-
-
-
-
17,891,336
1,189,698
471,892
45,389
155,407
19,753,722
1,143,318
433,533
322,507
21,853
-
1,921,211
211,026
146,666
73,753
8,962
-
440,407
-
-
-
-
-
-
1,354,344
580,199
396,260
30,815
-
2,361,618
16,536,992
609,498
75,632
14,574
155,407
17,392,103
16,693,128
603,616
148,419
16,636
200,384
17,662,183

All assets held by the Company are considered by the Governors to be held for direct charitable purposes.

Projects in progress released in the year included pods equipment for 6[th] form and electric vehicle chargers. Projects still in progress at the yearend date included refurbishments to the preparatory school, which has been put on hold temporarily, and a gym which was completed post year end.

Freehold land and buildings are valued by independent valuers every five to seven years. The directors review the valuation of the portfolio every year. Recent valuations were carried out in August 2018 and again in May 2021 and February 2024. The Governors judge the valuation figures quoted remain relevant and are justified based on the updated reports which used commercially accepted assumptions.

Freehold buildings are depreciated on a straight-line basis over their estimated useful life of 100 years, or 30 years for temporary buildings. A further provision of 20% is made to cover functional obsolescence and 5% to cover economic obsolescence.

The freehold land and buildings are pledged as security for the bank loan.

The historical cost of revalued freehold land and buildings within the school is:

Historical cost
Accumulated depreciation
Historical cost net book value		 2025
2024
£
£
9,205,743
9,150,853
-2,819,136
-2,727,079
6,386,607
6,423,774

25

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Motor vehicles includes assets held under finance leases with a net book value of £8,383 (2024: £15,568). IT Equipment includes assets held under finance leases with a net book value of £nil (2024: £21,989). The depreciation charge for these assets amounted to £29,174 (2024: £32,402) for the year.

10. Debtors

Fees
Prepayments and other debtors
1. Creditors Due Within One Year
Bank loan
Trade creditors
Taxes and social security
Other creditors
Fees in Advance – standard
Fees in Advance – composite (note 13)
Finance lease
Accruals
Deferred income		 2025
2024
£
£
232,231
190,594
181,650
80,259
413,881
270,853
2025
2024
£
£
80,261
75,630
290,694
232,163
587,914
95,347
91,999
110,466
1,746,977
574,832
2,038,620
591,057
2,068
8,314
263,807
222,664
230,762
-
3,869,314
3,374,261

11. Creditors Due Within One Year

26

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

12. Creditors Due After More Than One Year

Accruals and deferred income: final term deposits
Fees in Advance (note 13)
Other Creditors
Bank loan
Finance lease / Hire Purchase
Bank Loans
The bank loan is repayable in instalments as follows:
Due within one year
Due within two to five years
Due after five years		 2025
2024
£
£
156,303
339,755
40,000
113,636
1,045,078
50,000
2,226,310
2,296,525
-
2,972
2,762,368
3,508,211
2025
2024
£
£
80,261
75,630
387,582
377,499
1,838,728
1,919,026
2,306,571
2,372,155

The bank loan is secured by fixed charges over the assets of the charity.

For the year ended 31 August 2025 bank loans attracted an interest rate of 3.40% above base rate (2024: 3.40%). The final repayment date for the loan is 12[th] August 2041.

Finance Leases
Finance leases are repayable in instalments as
follows:
Within one year
Between one and five years
After five years		 2025
2024
£
£
2,068
8,314
-
2,972
-
-
2,068
11,286

Deferred income

Elements of income deferred for the company are as follows:


Fees in advance current – standard
Fees in advance current – composite (note 13)
Fees in advance non-current (note 13)
Final term deposits
Other deferred income		 2025
2024
£
£
1,746,977
574,832
2,038,620
591,057
339,755
1,045,078
156,303
113,636
230,762
-
3,048,629
3,788,391

27

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

Final term deposits are paid by the fee payer when the pupil joins the school and repaid when the pupil leaves the school.

Balance brought forward as at 1 September 2024
Amounts released/repaid in the period
Amounts received in the period
Balance carried forward as at 31 August 2025		 Fees in
Advance
Final Term
Deposits
Total
£
£
£
3,674,755
113,636
3,788,391
-3,674,755
-15,333
-3,690,088
2,086,732
57,995
2,144,727
2,086,732
156,298
2,243,030

13. Tuition fee payments received in advance – composite fees

Fees in advance relate to amounts received in respect of future terms. Parents may enter into a contractual agreement with the school to pay towards several years’ worth of fees in advance, in exchange for a discount. These monies are refundable subject to specific conditions on receipt of notice to leave. These funds are recognised as deferred income and split between short-term and long-term creditors. Assuming all participating pupils remain in the school for the full duration, the payments received in advance will be applied as follows:

Due within one year
Due within two to five years
Due after five years		 2025
2024
£
£
574,832
591,057
339,755
1,045,078
-
-
914,587
1,636,135

14. Funds

Unrestricted Funds

The school’s unrestricted funds are held to finance the freehold property and other assets, to fund the development of the School and to cover normal fluctuations in working capital.

At the beginning of the year
Deficit/Surplus for the year
Revaluation reserve transfer
At the end of the year		 Revaluation
reserve
Retained
surpluses
account
2025
2024
£
£
£
£
10,295,655
3,417,522
13,713,177
13,880,492
-
-129,878
-129,878
-167,315
-112,101
112,101
-
-
10,183,554
3,399,745
13,583,299
13,713,177

28

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

15. Lease Commitments

At the year end, the school had outstanding commitments for future minimum lease payments under non-cancellable operating leases which fall due as follows:

Operating Leases
Within one year
Between one and five years
After five years		 2025
2024
£
£
283,291
222,272
598,767
619,369
-
4,660
882,058
846,301

Operating lease expenditure of £232,429 (2024: £111,878) was included in the Statement of Financial Activity in the year.

16. Related Party Transactions

There have been the following related party transactions during the year:

Ethan Johnson (Headteachers son): supply of IT equipment £nil (2024: £33) Tracey Johnson (Headteacher): Mileage and equipment £489 (2024: £nil)

There are no balances owed to related parties at the year end.

17. Financial Instruments

7. Financial Instruments
2025 2024
£ £
Carrying amount of financial assets measured at
amortised cost		 257,422 222,137
Carrying amount of financial liabilities measured at
amortised cost		 3,693,506 4,403,637

18. Pension Costs

The school participates in the Teachers’ Pension Scheme (the TPS) for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £689,243 (2024: £622,801) and at the year-end £77,791 (2024: £60,593) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. Under the definitions of FRS102 the TPS is a multi-employer pension scheme. The school has accounted for its contributions to the scheme as if it were a defined contribution pension scheme.

29

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

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

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

The school operates a defined contribution scheme for its non-teaching staff. The total pension charge for the year amounted to £182,520 (2024: £25,227).

19. Analysis of Changes in Net Debt

Balance at 1 September 2024
Cash flows
Balance at 31 August 2025
Balance at 1 September 2023
Cash flows
Balance at 31 August 2024		 Cash in hand at
bank
Bank loan
Finance
leases
Total
£
£
£
£
2,662,614
-2,372,154
-11,286
279,174
-253,617
65,583
9,218
-178,816
2,408,997
-2,306,571
-2,068
100,358
Cash in hand at
bank
Bank loan
Finance
leases
Total
£
£
£
£
1,502,311
-2,433,868
-55,262
-986,819
1,160,303
61,714
43,976
1,265,993
2,662,614
-2,372,154
-11,286
279,174

20. Reconciliation of Net Income/(Expenditure) for the Reporting Period

Note
Net income/(expenditure) for the reporting period (per SOFA)
Adjustments for:
Depreciation charges
9
Dividends and interest
(Increase)/Decrease in debtors
(Decrease)/Increase in creditors
Net cash provided by (used in) operating activities		 2025
2024
£
£
-129,878
-167,315
440,407
455,788
46,594
15,915
-143,029
-146,059
-103,510
-214,937
110,584
-56,608

30

Docusign Envelope ID: F371854E-DAB9-8230-83C2-94AFF50A9173

Gateways Educational Trust Limited: (A Company Limited by Guarantee) Report of the Governors and Financial Statements: For the Year Ended 31[st] August 2025

21. Comparative Statement of Financial Activities

Notes
Income from:
Charitable activities
Fees receivable
Less: Scholarships and bursaries and special discount
Net fees receivable
Investments
Bank and other interest
Other trading activities
Sundry income
3
Voluntary sources
Donations / Grants
3
Total income
Expenditure:
Raising funds
Financing costs
7
Cost of other activities
Charitable activities
Education
Total expenditure
8
Net income for the year
Net movement in funds
Balances as at 1 September 2023
Balances carried forward at 31 August 2024		 2024
2023
Unrestricted
Unrestricted
£
£
8,861,734
7,862,416
-796,889
-759,100
8,064,845
7,103,316
15,915
9,722
92,631
77,008
80,522
96,527
8,253,913
7,286,573



-241,142
-219,851
-40,340
-16,900
-281,482
-236,751

-8,139,746
-6,955,098
-8,421,228
-7,191,849
-167,315
94,724
-167,315
94,724

13,880,492
13,785,768
13,713,177
13,880,492

31