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2025-08-31-accounts

REGISTERED COMPANY NUMBER: 01157590 (England and Wales) REGISTERED CHARITY NUMBER: 532262

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

HIGHFIELD PRIORY SCHOOL LIMITED

Rushtons Chartered Accountants Statutory Auditors Shorrock House 1 Faraday Court Fulwood Preston Lancashire PR2 9NB

HIGHFIELD PRIORY SCHOOL LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Governors D Whitman
E M S Ahmed
J A T Nairn
B R Hall
N Mason
S Moylon
P P Noall
J Southworth
W Hayhurst
A M Flynn
S Magill
Secretary and School Business Manager R J Cottom
Headmaster J Duke BEd Hons
Charity number 532262
Company number 01157590
Registered office 58 Fulwood Row
Fulwood
Preston
Lancashire
PR2 5RW
Auditor Rushtons
Chartered Accountants
Statutory Auditors
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB
Bankers National Westminster Bank Plc
292 Garstang Road
Fulwood
Preston
PR2 9RQ

HIGHFIELD PRIORY SCHOOL LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Page
Report of the Trustees 1 to 5
Report of the Independent Auditors 6 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 21
Detailed Statement of Financial Activities 22

HIGHFIELD PRIORY SCHOOL LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

Introduction

The Board of Governors presents the annual report and the audited financial statements for the year ending 31 August 2025. All Governors are Directors and Trustees of the charity.

Key Information

The school continues to operate as a registered charity (number 532262), providing a high-quality education for boys and girls of all backgrounds. Founded in 1940, the school's mission is to advance education and support students' personal development in a welcoming, family-oriented environment.

Bursaries and Community Engagement

The Governors offer financial support, or bursaries, to help eligible families afford the school fees. The school also actively engages with the local community through various initiatives and events, from charity work to professional development opportunities for staff.

Charitable Activities and Aims

The main goal is to create a nurturing environment where children can grow academically, socially, and morally. The school aims to:

Objectives for the Year

The primary goals for the year included:

Achievements and Performance

The 2024-2025 academic year has been one of significant achievement and development for Highfield Priory School. Pupils across all year groups have made excellent progress, showing enthusiasm for learning and a clear commitment to achieving their best in all areas of school life.

Year 6 academic achievements this year have been exceptional. Pupils secured outstanding results in entrance examinations for grammar and independent schools, alongside impressive National Curriculum Test scores: 112 in Reading, 112 in Mathematics, and 116 in SPaG-among the highest ever recorded at Highfield. These results will once again place our school among the very top-performing schools nationally.

In the performing arts, we staged five productions, with every child in the school appearing on stage, continuing to grow in confidence and self-belief. The children shared their talents through musical assemblies, the magical Winter Concert, and the end-of-year production, Robin Hood and the Sherwood Hoodies. They performed before large audiences with confidence and creativity.

Sporting success has also continued. The junior teams were victorious in the Northern ISA Cricket Tournament and triumphed in the Sedbergh Netball Tournament. Seven pupils represented Lancashire in chess-an incredible accomplishment and a testament to their focus and strategic thinking.

It is because of achievements such as these-academic, creative, sporting, and personal-that Highfield Priory was shortlisted for Northern Independent School of the Year in the prestigious Independent Schools Magazine Awards. This year also saw the official opening of the school's new state-of-the-art Nursery and Preschool by the Lord-Lieutenant of Lancashire. This was a very special day for the school, bringing the whole Highfield community together, with talented alumni and current pupils providing musical entertainment throughout the day and evening. It is a fantastic facility that will give every pupil at Highfield the best opportunity to grow and develop.

We also celebrated two remarkable members of staff, Mrs Helen Haythornthwaite and Miss Andrea Macklam, who retire this summer after an extraordinary combined 73 years of service to Highfield Priory.

Mrs Haythornthwaite has been a calm and constant presence for 38 years-steadfast, wise, and quietly transformative. As both a class teacher and English lead, she has helped generations of children discover the joy of language and literature.

Miss Macklam, a close friend and colleague for 35 years, has been the heartbeat of Highfield's musical life. She has brought music to every corner of the school through her inspiring leadership of the choir and a creative vision that made every school production unforgettable.

Page 1

HIGHFIELD PRIORY SCHOOL LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

Together, they have shaped far more than lessons-they have shaped lives. Their warmth, generosity, and deep commitment to the children, staff, and families of Highfield have made this school the community it is today. Looking ahead, the successes of this year provide a strong foundation for continued excellence. The dedication of pupils, staff, and the wider school community ensures that Highfield Priory is well placed to build on this momentum and achieve even greater accomplishments in the years to come.

Development and Facilities

The Governors are focused on improving the school's facilities, investments continue in ensuring the school has first-class learning environments.

Financial Review

Income has increased to £2.36 million during the year. The school achieved a surplus of £215,248, after insurance monies of £399,410 were received in relation to the nursery building. Insurance monies have gone towards the new nursery building. The timing of the cash flows have resulted in a net current liability position of £499,084 as at 31 August 2025 which is being carefully managed and will be largely resolved once the remaining insurance money is received. There are no outstanding loans or overdrafts.

Reserves Policy

The Governors recognise that the level of reserves fluctuate during periods of significant investment in the School and continually monitor the availability of free cashflows and available banking facilities to manage the School’s needs. The school has free reserves of -£513,023 due to the recent enhancement of the new nursery building. The free reserves will now recover as there is no further significant capital investment planned.

Investment and Risk Management

Plans for the Future

The Governors' primary objective is to continue providing an outstanding educational experience through investment in facilities, staff development, and pupil wellbeing. The school will also focus on strengthening pupil recruitment, developing the new Nursery and Preschool provision, and maintaining long-term financial sustainability to support future growth and opportunities for pupils.

Governance and Management

The school is governed by a Board of Governors who are also Trustees. There are currently twelve Governors, including parents and co-opted members with relevant skills. Governors are appointed for their expertise and availability to serve the school

The directors who held office during the year and since the year end are detailed below:-

Name of director Office held in year Committees attended
D Whitman Chair of Governors, Chair of Strategic STR, FGP
Committee
E M S Ahmed Chair of H, S & W Committee AUD, STR, HS
A M Flynn STR, SAM
W Hayhurst STR, SAM
B R Hall STR, FGP
N Mason Chair of FGP Committee AUD, STR, FGP
S Magill STR, SCP
S Moylon Vice Chair of Governors STR, FGP
J A T Nairn Chair of Safeguarding & Child Protection AUD, EDU, STR, SCP
P Noall Chair of Sales & MarketingVice Chair of STR, SAM
Governors
J Southworth Chair of Audit & Compliance Committee, Chair AUD, STR, EDU
of Education Committee

The committees to which the Governors are appointed are indicated above, as identified using the key shown below: AUD Audit and Compliance STR Strategic Committee SCP Safeguarding and Child Protection FGP Finance and General Purposes Committee (Inc. Marketing) HS Health, Safety & Wellbeing EDU Education Committee SAM Sales and Marketing Committee

Page 2

HIGHFIELD PRIORY SCHOOL LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

Governor Induction and Responsibilities

New governors are introduced to the school's operations, legal status as a limited company and registered charity, and key policies. They receive a range of documents, including the Memorandum and Articles of Association, recent accounts, meeting minutes, and information about their role as trustees. The Chairman, other Governors, Headmaster, and School Business Manager provide ongoing support.

The Headmaster manages the day-to-day operations of the school, attending governors' meetings. Governors meet three times a year to discuss general policies and review management. There are sub-committees for Audit and Compliance, Strategic Planning, Finance, Safeguarding, Health and Safety, and Education. Each committee has clear objectives for the year.

Key Management Personnel

The Headmaster, School Business Manager, Senior Management Team, and Governors are the key management personnel. Governors volunteer their time and don't receive compensation. The Pay Review Committee sets salaries for the Head and senior staff, ensuring fair pay in line with sector standards.

Trustees' Responsibilities

The trustees (who are also the directors of Highfield Priory School Limited for the purposes of company law) are responsible for preparing the Report of the Trustees 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 those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

Auditor

Rushtons have been appointed as the school's auditors for the fifth consecutive year.

Disclosure of information to auditor

Each of the trustees 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.

This report has been prepared having taken advantage of the small companies’ exemption in Companies Act 2006.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:

........................................................................ D Whitman - Trustee

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HIGHFIELD PRIORY SCHOOL LIMITED

Opinion

We have audited the financial statements of Highfield Priory School Limited (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (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 Auditors' 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 Report of the Independent Auditors 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.

In connection with our audit of the financial statements, 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 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 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 Report of the Trustees.

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

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HIGHFIELD PRIORY SCHOOL LIMITED

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the 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 but to do so.

Our 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 a Report of the Independent Auditors 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:

Identifying and assessing potential risks related to irregularities

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered a number of issues, such as the nature of the charity's industry, their control environment and business performance. We also discussed amongst our engagement team how and where fraud might occur and any potential indicators of fraud.

We obtained an understanding of the legal and regulatory framework that the charity operates in and focussed our attention on any laws and regulations which might be considered as "showstoppers". We also looked at internal controls in place at the company, established to mitigate risks related to fraud or non-compliance with laws and regulations.

In response to other identified risks, we reviewed the financial statement disclosures, we made enquiries of the charity as to potential litigation and claims, we performed analytical procedures to look for unusual trends or unexpected relationships and we read any available meeting minutes.

We also addressed the risk of fraud through management override of controls by testing appropriate journal entries and other adjustments. We also assessed accounting estimates and considered any significant transactions that might be considered unusual in the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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 auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the 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.

Adam Calvert ACA (Senior Statutory Auditor) for and on behalf of Rushtons Chartered Accountants Statutory Auditors Shorrock House 1 Faraday Court Fulwood Preston Lancashire PR2 9NB

Date: .............................................

Page 7

HIGHFIELD PRIORY SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
5
General
Other trading activities
3
Investment income
4
Other income
6
Total
EXPENDITURE ON
Charitable activities
7
General
Other
8
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
1,922,124
24,858
1,539
399,410
2,347,931
2,113,934
7,112
2,121,046
226,885
1,878,393
2,105,278		 Restricted
funds
£
11,675
-
-
-
11,675
23,312
-
23,312
(11,637)
11,637
-		 2025
Total
funds
£
1,933,799
24,858
1,539
399,410
2,359,606
2,137,246
7,112
2,144,358
215,248
1,890,030
2,105,278		 2024
Total
funds
£
1,954,425
23,476
4,427
350,452
2,332,780
1,950,852
23,672
1,974,524
358,256
1,531,774
1,890,030

The notes form part of these financial statements

Page 8

HIGHFIELD PRIORY SCHOOL LIMITED

BALANCE SHEET 31 AUGUST 2025

Notes
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Share capital
20
Unrestricted funds
18
Restricted funds
18
TOTAL FUNDS		 Unrestricted
funds
£
2,604,375
89,406
47,915
137,321
(636,405)
(499,084)
2,105,291
2,105,291		 Restricted
funds
£
-
-
-
-
-
-
-
-		 2025
Total
funds
£
2,604,375
89,406
47,915
137,321
(636,405)
(499,084)
2,105,291
2,105,291
13
2,105,278
-
2,105,291		 2024
Total
funds
£
1,897,936
39,637
488,991
528,628
(536,521)
(7,893)
1,890,043
1,890,043
13
1,878,393
11,637
1,890,043

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. D Whitman - Trustee

The notes form part of these financial statements

Page 9

HIGHFIELD PRIORY SCHOOL LIMITED

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2025
2025
Notes
£
Cash flows from operating activities
Cash generated from operations
1
1,768
Net cash provided by operating activities
1,768
Cash flows from investing activities
Purchase of tangible fixed assets
(836,681)
Insurance proceeds for nursery
399,410
Demolition costs for nursery
(7,112)
Interest received
1,539
Net cash used in investing activities
(442,844)
Change in cash and cash equivalents in
the reporting period
(441,076)
Cash and cash equivalents at the
beginning of the reporting period
488,991
Cash and cash equivalents at the end of
the reporting period
47,915		 2024
£
334,054
334,054
(820,723)
350,452
(23,672)
4,427
(489,516)
(155,462)
644,453
488,991

The notes form part of these financial statements

Page 10

HIGHFIELD PRIORY SCHOOL LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2025 2024
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 215,248 358,256
Adjustments for:
Depreciation charges 109,374 87,413
Loss on disposal of fixed assets 20,868 -
Interest received (1,539) (4,427)
Insurance proceeds for nursery (399,410) (350,452)
Demolition costs for nursery 7,112 23,672
(Increase)/decrease in debtors (49,769) 1,015
Increase in creditors 99,884 218,577
Net cash provided by operations 1,768 334,054
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.24 Cash flow At 31.8.25
£ £ £
Net cash
Cash at bank and in hand 488,991 (441,076) 47,915
488,991 (441,076) 47,915
Total 488,991 (441,076) 47,915

The notes form part of these financial statements

Page 11

HIGHFIELD PRIORY SCHOOL LIMITED

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

1. CHARITY INFORMATION

Highfield Priory School Limited is a private company limited by shares incorporated in England and Wales. The registered office is 58 Fulwood Row, Fulwood, Preston, Lancashire, PR2 5RW.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The net current liability position as at 31 August 2025 of £499,084 is largely due to the investment in the new nursery building. The Trustees are confident that this will return to a net current asset position in the near future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Income

Income from charitable activities comprises school fees, net of bursaries, and related receipts, accounted for in the period in which the service is provided, net of any VAT. Fees for education to be provided in the next academic year, are carried forward as deferred income in the balance sheet.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Voluntary income including, gifts and donations received for the general purposes of the charity are included in unrestricted funds when received. Where these comprise of donated fixed assets, they are included at market value.

Investment income is recognised on a receivable basis.

Expenditure

Expenditure is accounts for on an accruals basis, net of any recoverable VAT.

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

Support costs and governance costs have been allocated to the charitable activities as there is only one main activity undertaken by the charity.

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. Only items over £150 are capitalised.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land Nil
Freehold properties 1-10% Straight line
Leasehold land and buildings 6.67% Straight line
Furniture 15% Reducing balance
IT equipment 25% Straight line
Motor vehicles 10% Reducing balance

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 net income/(expenditure) for the year.

Page 12

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

2. ACCOUNTING POLICIES - continued

Taxation

The school is a registered charity and as such is entitled to tax exemptions on all its income and gains, properly applied for its charitable purposes.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Cash at bank

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.

Financial instruments

The charity only had financial assets (debtors, cash and bank balances) and financial liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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 expenses when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Pension scheme

The Charity contributes to the Teachers' Pension Defined Benefits Scheme at the rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator. The scheme is a multi employer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the school. Therefore, in accordance with FRS102 the scheme is accounted for as a defined contribution scheme (see note 22).

The Charity also contributes to defined contribution individual personal pension schemes for certain non-teaching staff at 5%-7.5% of annual basic pay. Contributions to both schemes are charged in the SOFA as they become payable in accordance with the rules of the schemes.

Leases

Rentals payable charged to the Statement of Financial Activities as incurred over the term of the lease.

3. OTHER TRADING ACTIVITIES

Hire of school and hall
Other receipts		 2025
£
11,264
13,594
24,858		 2024
£
13,061
10,415
23,476

Page 13

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

4. INVESTMENT INCOME

Interest receivable
5.
INCOME FROM CHARITABLE ACTIVITIES
Gross fees
Less: bursaries
Analysis by fund:
Unrestricted funds
Restricted funds
6.
OTHER INCOME
Insurance monies (see note 8)
7.
CHARITABLE ACTIVITIES COSTS
Teaching costs, books and school meals
Non-teaching staff costs
Premises expenses
Depreciation
Governance costs
Analysis by fund:
Unrestricted funds
Restricted funds
8.
OTHER
Cost of demolishing the nursery building
Loss on disposal of fixed asset (nursery building)		 2025
£
1,539
2025
£
1,926,768
(4,644)
1,922,124
1,922,124
-
1,922,124
2025
£
399,410
2025
£
1,222,757
405,199
332,262
9,600
103,901
2,073,719
2,073,719
-
2,073,719
2025
7,112
20,868
27,980		 2024
£
4,427
2024
£
1,964,787

(10,362)
1,954,425
1,954,425
-
1,954,425
2024
£
350,452
2024
£
1,208,583
351,873
286,529
87,413
16,454
1,950,852
1,950,852
-
1,952,852
2024
23,672
-
23,672

During 2023, the school suffered a destructive arson attack which resulted in the nursery building being destroyed. As a result, the nursery building has been fully demolished, and the asset was written off in the accounts for the year ended 31 August 2023. Most of the costs were included in the accounts for the year ended 31 August 2023, however, there have been some ongoing costs associated with the demolition in 2024 and 2025, as shown above.

Included in other income is £399,410 (2024: £350,452) (note 6), being monies received from the insurance company in respect of the rebuilding costs.

Page 14

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets
Deficit on disposal of fixed assets		 2025
£
109,374
20,868		 2024
£
87,413
-

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Charitable activities
General
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
General
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
1,954,425
23,476
4,427
350,452
2,332,780
1,950,852
23,672
1,974,524
358,256
1,520,137
1,878,393		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
11,637
11,637		 Total
funds
£
1,954,425
23,476
4,427
350,452
2,332,780
1,950,852
23,672
1,974,524
358,256
1,531,774
1,890,030

Page 15

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

12. AUDITOR'S REMUNERATION

The analysis of auditors remuneration is as follows:

Audit services (2025: exclusive of VAT, 2024: inclusive of VAT)
Other services (2025: exclusive of VAT, 2024: inclusive of VAT)		 2025
£
8,300
2,300
10,600		 2024
£
8,500
2,900
11,400

13. EMPLOYEES

Number of employees

The average monthly number of employees during the year was:

Teachers and Assistants
Administration
Domestic
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
37
5
9
51
2025
£
1,236,858
120,743
155,032
1,512,633		 2024
Number
34
6
9
49
2024
£
1,185,007
103,745
167,935
1,456,687

The number of employees whose annual remuneration was £60,000 or more were:

90,001 - 100,000 2024
Number
1		 2023
Number
1

Of the employees whose emoluments exceed £60,000, 1 (2024: 1) has retirement benefits accruing under defined benefit pension schemes.

Page 16

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

14. TANGIBLE FIXED ASSETS

COST
At 1 September 2024
Additions
Disposals
At 31 August 2025
DEPRECIATION
At 1 September 2024
Charge for year
Eliminated on disposal
At 31 August 2025
NET BOOK VALUE
At 31 August 2025
At 31 August 2024		 Freehold
land and
buildings
£
2,384,401
810,067
(23,826)
3,170,642
752,201
61,647
(2,958)
810,890
2,359,752
1,632,200		 Leasehold
land and
buildings
£
277,493
-
-
277,493
166,581
18,507
-
185,088
92,405
110,912		 Furniture
and
equipment
£
675,772
26,614
-
702,386
553,727
26,589
-
580,316
122,070
122,045		 Motor
vehicles
£
59,194
-
-
59,194
26,415
2,631
-
29,046
30,148
32,779		 Totals
£
3,396,860
836,681
(23,826)
4,209,715
1,498,924
109,374
(2,958)
1,605,340
2,604,375
1,897,936

The cost of land and buildings include an amount of £64,917 (2024: £64,917) relating to the cost of land which is not depreciated.

Although there are no bank borrowings at the year end, the bank have a first legal charge over the school and nursery buildings for the agreed overdraft facility.

15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Other creditors
Fees received in advance
Accruals and deferred income

Page 17

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 2025
£
1,128
1,920
15,960
19,008		 2024
£
3,071
2,568
16,440
22,079

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Property Asset Fund
Bursary Fund
Restricted funds
AEN Early Years Funding
TOTAL FUNDS		 At 1.9.24
£
(19,542)
1,897,935
-
1,878,393
11,637
1,890,030		 Net
movement
in funds
£
361,769
(130,241)
(4,643)
226,885
(11,637)
215,248		 Transfers
between
funds
£
(855,250)
836,682
18,568
-
-
-		 At
31.8.25
£
(513,023)
2,604,376
13,925
2,105,278
-
2,105,278

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Property Asset Fund
Bursary Fund
Restricted funds
AEN Early Years Funding
TOTAL FUNDS		 Incoming
resources
£
2,352,574
-
(4,643)
2,347,931
11,675
2,359,606		 Resources
expended
£
(1,990,805)
(130,241)
-
(2,121,046)
(23,312)
(2,144,358)		 Movement
in funds
£
361,769
(130,241)
(4,643)
226,885
(11,637)
215,248

Page 18

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Property Asset Fund
Bursary Fund
Restricted funds
AEN Early Years Funding
TOTAL FUNDS		 At 1.9.23
£
355,511
1,164,626
-
1,520,137
11,637
1,531,774		 Net
movement
in funds
£
456,031
(87,413)
(10,362)
358,256
-
358,256		 Transfers
between
funds
£
(831,084)
820,722
10,362
-
-
-		 At
31.8.24
£
(19,542)
1,897,935
-
1,878,393
11,637
1,890,030

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Property Asset Fund
Bursary Fund
TOTAL FUNDS		 Incoming
resources
£
2,343,142
-
(10,362)
2,332,780
2,332,780		 Resources
expended
£
(1,887,111)
(87,413)
-
(1,974,524)
(1,974,524)		 Movement
in funds
£
456,031
(87,413)
(10,362)
358,256
358,256

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Property Asset Fund
Bursary Fund
Restricted funds
AEN Early Years Funding
TOTAL FUNDS		 At 1.9.23
£
355,511
1,164,626
-
1,520,137
11,637
1,531,774		 Net
movement
in funds
£
817,800
(217,654)
(15,005)
585,141
(11,637)
573,504		 Transfers
between
funds
£
(1,686,334)
1,657,404
28,930
-
-
-		 At
31.8.25
£
(513,023)
2,604,376
13,925
2,105,278
-
2,105,278

Page 19

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

18. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Property Asset Fund
Bursary Fund
Restricted funds
AEN Early Years Funding
TOTAL FUNDS		 Incoming
resources
£
4,695,716
-
(15,005)
4,680,711
11,675
4,692,386		 Resources
expended
£
(3,877,916)
(217,654)
-
(4,095,570)
(23,312)
(4,118,882)		 Movement
in funds
£
817,800
(217,654)
(15,005)
585,141
(11,637)
573,504

Unrestricted funds

The general fund is the free reserves of the charity after allowing for all designated funds.

The property asset fund is represented by monies spent on the tangible fixed assets of the charity (note 8).

The transfer of £836,682 (2024: £820,722) from the free reserves represents the funds spent on fixed assets in the current year.

The resources expended of £130,241 (2024: £87,413) represents the depreciation charges and losses on disposal in the current year.

The bursary fund represents monies designated to meet the future costs of the bursaries for existing pupils committed to at 31 August 2025.

Restricted funds

The AEN fund is monies received to support certain children. Any unused funds are carried forward to future years.

19. RELATED PARTY DISCLOSURES

Remuneration of key management personnel

The remuneration of key management personnel is as follows:

Aggregate compensation 2025
£
301,085		 2024
£
391,770

One governor received travel expenses totalling £1,083 during the year (2024: £282). No other governors or persons connected to them received any remuneration, and were not reimbursed for any expenses in this or the previous year.

During the year insurance premiums of £292 (2024: £284) were paid by the school in respect of indemnity insurance for the Governors.

Page 20

continued...

HIGHFIELD PRIORY SCHOOL LIMITED

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

20. SHARE CAPITAL

Authorised
13 Ordinary shares of £1 each		 2025
£
13		 2024
£
13

All the assets are held for charitable purposes and cannot be distributed to the members. Should the company be wound up or dissolved, the assets have to be transferred to another charity with similar objects and which also prohibits the distribution of any income or property to it's member.

21. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

Natwest hold a letter of set off over credit balances by Highfield Priory School Parents Association allowing the bank to set off the credit balances of the Parents Association account with the debit balances of Highfield Priory School Limited, although there has been no such credit balances to set off during the year.

22. PENSION SCHEMES

The School participates in the Teachers' Pension Scheme ("the TPS") for its teaching staff. The pension scheme charge for the year included contributions payable to the TPS of £143,483 (2024: £155,910).

The TPS is an unfunded multi-employer defined benefits scheme governed by The Teachers' Pension 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.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent valuation of the TPS was prepared as at 31 March 2020 and the valuation report, which was published in October 2023, confirmed an employer contribution rate for the TPS of 28.60% from 1 April 2024. Employers are also currently required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%. This employer rate is expected to be paid until 31 March 2027.

The charity also runs a scheme for certain non-teaching staff, which is a defined contributions scheme managed by Complete Pension Trust. The cost for the year represents the Charity's contributions to that scheme of £11,189 (2024: £12,025).

Page 21

HIGHFIELD PRIORY SCHOOL LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

INCOME AND ENDOWMENTS
Other trading activities
Hire of school and hall
Other receipts
Investment income
Interest receivable
Charitable activities
School fees
Other income
Insurance monies (see note 8)
Total incoming resources
EXPENDITURE
Charitable activities
Teaching costs, books and school meals
Non teaching staff costs
Premises expenses
Governance costs
No description
Depreciation of tangible fixed assets
Loss on sale of tangible fixed assets
Other
Exceptional items
Total resources expended
Net income		 2025
£
11,264
13,594
24,858
1,539
1,933,799
399,410
2,359,606
1,235,807
407,895
342,134
9,772
11,397
109,373
20,868
2,137,246
7,112
2,144,358
215,248		 2024
£
13,061
10,415
23,476
4,427
1,954,425
350,452
2,332,780
1,208,583
351,873
291,583
11,400
-
87,413
-
1,950,852
23,672
1,974,524
358,256

This page does not form part of the statutory financial statements

Page 22