Charity Registration No. 800284
Company Reglstratlon No. 2270044 (England and Walés)
HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
I cuivis DOCTRINA REFERTUR
*AE3QMEJLI*
3110512025
COMPANIES HOUSE
A08
#114

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
C Aldridge
H Davies
N Newman
A Brovm
A Skinnard
D Smith
Mr E Nwosu
Mr S Tanna
P Fraley
(Appointed 1 December 2023)
Secretary and Bursar
G Bunning
Head Teacher
E Rees
Charlty number
800284
Company number
2270044
Regl8tered offlce
Hornsby House School
Hearnville Road
London
SW12 8RS
Audltor
14fykrd Williams Limited
Belgrave House
3943 Monument Hill
Vveybridge
Surrey
Kr13 8RN
Bankers
Child & Co 8ank8r8
1 Fleet street
EC4Y 1 BD
Solicltors
Barlow Robbins Solicitors
The Oriel
Sydenham Road
Guildford
Surrey
GU1 3SR

HORNSBY HOUSE EDUCATIONAL TRUST,
COMPANY LIMITED BY GUARANTEE
CONTENTS
Pag•
Trustees, report
Independent auditorfs report
12-15
Statement of financial activities
16
statement of financlal posltlon
17
Statement of cash flow$
18
Notes to the financial statements
19-30

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees, who are also Directors for the purposes of company law, present their report and the financial
statements of the company for the year ended 31 August 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts
and comply with the School's gov8ming document, the Companies Acl 2006 and "Accounting and Reporting by
Charities: Statement of Recommended Practice applicable lo charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and R8public of Ireland (FRS 102)° (as amended for
accounling periods commencing from 1 January 20161.
Objectlves and activities
The School place5 equal emphasis on strategic aims.. flrst. to encourage every pupll to attain the highest
academic standards according to his or her ability (the opportunity to benefit from the School's extensive c¢>
curricular activities play a part in this),. second, in terms of pastoral care (a longstanding characteristic of the
School), to ensure that all pupils are treated equally, with respect and are valued.
We have four school aims which capture the areas of a child's learning and development which matter most to us
at Homsby House School.
Pastoral To promote kindness, enhance self-esteem and the ability to value and respect each person's own
worth through a caring, nurturing and secure environment.
Currlculum and Co-currlculum - To provide a broad, balanced and differentialed currlculum and co-curriculum
which 15 accessible to all children and fosters independent and creative thinkers.
Equallty, dlverslty and Incluslon To establlsh a culture of inclusion and equal opportunity, within which all
members of the school and wider community can thrive.
Preparatlon for Ilfe -To prepare happy and confident children for the next stage of thelr formal education and
life beyond.
Our core values - children are encouraged Ic work together and look after each other. Our three core values
are deliberately simple and concise so that all members of our community can understand them. They sit at the
heart of Hornsby life and govern all thal we do.
Our Core Values
HEAD
HEART
SPIRIT
Achievement
Being kind
Trying your best
tl
Excellent work
Listening
Joiiiin¥ in
Being independent
Courtesy and inanners
Friendship
Sharins and iiiclusive
Hglpful
Effort
Resilience
Creativity
Trying iiew tliings

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Prlncipal actlvlty
Homsby House School's prinapal activity is the provision of a non-selective day school education for boys and
glrls aged 4 - 11 years. The School is currently fully subscribed.
Object5ves for the year
The Board's main objective has been to continue to enhance academic, sportlng, and co-currlcular activities,
standards and facilities, including the provision of financial support to those who cannot afford to pay tuition fees.
without detriment to standards of pastoral care.
The School has achieved this by maintalning a hlgh teacher-ttrpupil ratio., by investing in staff and facilitle8', and
by tailoring the School's services where appropriate lo suit changing individual or collective needs.
The Trustees have paid due regard lo guidance issued by the Chariiy Commission in deciding what activities Ihe
School should undertake.
Public beneflt
The Charities Act 2006 made changes which affect the school, prlncipally removing the presumption In law that
education Is for public benefit. The effect of this is a requirement that educ8tion81 charities dernonstrate the
public benefit they provide. The Charity Commission has provided guidelines on the changes together with an
analysis of the law affecting charities.
In meeting the School's objects, the publlc benefit aim of Hornsby House School is to provide a firsl-class
independent educalion, both through slrong academic tuition and through developing wider sporting, artistic and
social skills in all its pupils. This is intended to create an environment in which all pupils can develop their full
potential, thus building their self.confidence and encouraging a desire lo contribute to the wider community.
In furtherance of these aims, the Board has complied with the duty in s. 1715) of Ihe Charities Acl 2011 to have
due regard to the Charity Commission's published general and relevant sul>sector guidance concerning the
operation of the Public Benefit requirement under that Act.
In the academic year 2023- 2024 Hom$by House School provided education to 442 pupils who would otherwse
be educated in maintained schools at public expense. However the Board recognises that it has wider
responsibilities to the local community. There are three additional elements in the public benefit it provides..
bursaries, outreach projects and community projects.

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Grant Maklng
In carrying out this charitable duty, the Governors are committed to the School's contribution to the wider
community and continue to maintain a separate designated fund to support bursaries and outreach projects in
future years.
The Governors are committed to making available the distinctive all-round education offered by Homsby House
to children likely lo benefil from the School's wider extra-curricular activilies irrespective of financial
circumstances. The School has a Scholarship and Bursary Scheme aimed at children whose families would not
olherwise be able to Consider private education and are actively seeking applications for these bursaries through
external advertising and promotion on our website. Applications are encouraged from applicants from diverse
religious, ethnic and cultural backgrounds.
All applications for bursaries are based on personal and means-lested circumstances. The School uses an
outside company, Bursary Adminislralion Ltd to assess all applications. These are then reviewed by the
Headmaster, the Bursar, and the Board of Governors. Depending on need, bursaries may include support for
uniform, lunch costs and extra-curricular activities.
In 202312024 the School supported three puplls wilh means tested bursaries, varying in value from 400/0 to 100%
of annual fees of which one is life-changing, receiving 1000/0 remission.
Homsby House has a longstanding collaboration with the Institute of Education and The University of
Roehampton, offering work placements during the school year to students unéertaking the PGCE. The School
also participates in the Schools Direct Programme, an employment based route into teaching for experienced
graduates leading to Quallfied Teaching Status.
The school's public benefit pragramme 15 managed and co-ordinated by Mr Mark Peters, Deputy Head, External
Relations, who is working with local primary schools and sports clubs to develop a range of initiatives in the local
community.
Our mission is to promote, develop and deliver learning opportunities and experlences open to all through
range of activities to enrich learning across the curriculum and beyond.
During the past few of years we have built excellent working partnershipy in the local community wilh both Lark
Hall Pnmary School In Stockwell and Trinity St Mary's Primary School in Balham to develop
learning opportunities for staff and pupils. A significant number of children at both schools are in receipt of
free school meals and over 480h of pupils at both schools are eligible for the pupil premium grant for
disadvantaged pupils.
Homsby House contlnues the Page Turners initiative to support children from Trinlty St Mary's Primary School,
whose learning was severely disrupted by the COVID pandemlc. Every Saturday moming, children have the
opportunity to read with Hornsby House parents. The school is currently exploring the possibility of working wilh
other independent and state schools to expand and accommodate the needs of more pupils.
The cycling programme we run for Larkhall Primary School pupils at Herne Hill Velodrome is now in its third
year. This is a sport and venue to which the children who attend would ordinarily not have access.
Hornsby House School continues its partnership with Hillbrook School, donating to the School a contribution for
four Coram Beanstalk reading helpers.
Stralegic report
The description under the headings "Achievements and performance" and "Reserves policy" meel the company
law requirements for the Trustees to present a strategic report.

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES, REPORT {CONTINUED){INCLUDING DIRECTORS, REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and performance
Operational performance of the School
Homsby House enjoyed another successful year.
The School hosted several Multicultural events. A Diwali assembly was led by parents and pupils participated in a
workshop to celebrate the rich cultural heritage of the Hornsby community. The Head Teacher from Wenlin
School visited and led an assembly to celebrate Chinese New Year and to talk to the children about the culture
and traditions surrounding how new year is celebrated in China. This was followed by a whole school Chlnese
Lion Dance led by the Chung Ching London Lion Dance.
The Governors provided support and guidance to the school throughout the year. More frequent visits by the
Governors to the school increased their visibility and further cemented relationships with the staff and parent
body.
The School continues to fulfil. its aim of providing a broad, balanced and differentiated curriculum and co-
curriculum for all children.
The School was visited by the Independent Schools Inspectorate in March 2024 and received a positive report.
ISI inspects against the Independent School Standards and other relevant regulations, which are set by
parliament. The Inspection found that the School is fully compliant against all standards. The report, based on
evidence from the three day inspection and was the first time Hornsby House has been inspected under the new
ISI framework launched in September 2023. Reflecting on the overwhelmingly p051tive report, it is particularly
rewarding to see how inspectors noted that Pupils receive a broad and balanced education, with effectlve
teaching, inclusive sports programs, and diverse extracurricular activities fostering a love of learning. Personal,
social, health, and economic education {PSHE) further promotes mutual respect, self-confidence, and positive
relationships. These f5ndings align with our objectives, reflecting our commitment to providing a supportive and
enriching learning environment for all pupils.
The School's excellent reputation in the area has ensured strong demand for places and healthy numbers on the
roll. The School remains committed to promoting the children's core values and developing social skills that will
equip them well in life beyond primary school. This is achieved through an exciting and relevant curriculum and
Ihe provision of a wide range of before and after school clubs, giving children opportunitles to work as a team
and learn new skills. The location of the School also allows for a rlch and varied programme of educational trips
and visiting speakers.
The children are supported by highly qualified and motivated staff. The provision of excellent resources and
facilities remains a key priority for new investment. The ratio of staff to pupils remains excellent.
The School does not select children for Reception on the basis of academic assessment but according to a first
come, first served registration process. The academic process of the School is impressive, pupils receiving a
number of offers from Some of the most demanding schools in the country. Hornsby House enjoyed another
extremely strong year at 11 +. All pupils secured a place at their choice of preparatory or senior school and
significant number of pupils have again gained academic, sports, art and drama scholarships and exhibitions.
The school's success is dependent on its financlal stability. To this end, the principal financial indlcators targeted
and monitored by the Governors include current and prospeclive pupil numbers, annual surplus, and cash.
The results for the year are set out in detail on page 16. Wth income of £9,263,344 the School generated an
operating surplus of 1,082,275 (2023.. £903,877). This surplus has been applied primarily in financing new capital
expendlture.
The reserves of the School represent the unrestricted funds which the Governors are free to use in accordance
with its charitable objects. The reserves held are required to finance the freehold property and to cover normal
fluctuations in working capital. The reserves have accumulated to £12,879,844 and reflect the significant cost of
the School's freehold land and buildings.
Funding of recent capital projects and necessary day-to-day working capital is being met by careful management
of the School's cash resources, together with additional funding from the School's bankers where necessary.

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Fund-raising actlvltles
Most of the School's income is from school fees and other associated revenue. The Trust promotes and raises
funds for local charities and other organisations, in ils ongoing endeavour to widen public access to ils schooling,
to oplimise the use of its cultural and sporting facilities and to awaken in its pupils a keen awareness of the social
conlext within which they and the School exist.
All fundraising activity across the Trust continues to be managed in an open and transparent fashion with
the clear objective of being respectful. responsibSe and accountable so that potential and existing supporters
have complete confidence in their giving to the Trust. There were no complaints received by the Trust
during the reporting period about its fundraising practices.
The School distributed funds for other charities totalling £9,760, (2023.. £14,273) during the year. Our chosen
charities this academic year were Little Village, Ickle Pickles and Play It Forward. Children enjoyed learning
about the aims of the charity which they were helping and raised funds Ihrough a range of exciting activities:
Charlty
Little Village
20241£)
2,501
Ickle Pickles
1,665
Play it Forward
1,594
Coram Beanstalk
4,000
Donatlons vla onllne Plarforms
Ickl8 Pickles
174
Play it Forward
2,191
Total online donations
In addition to the funcls donated by the School, Ihe Hornsby House School PTA organlsed events throughoLrt the
year, donating £79,000 lo various local charilies.

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Community Relalionships
In the local wider community, the Deputy Head, Exlernal Relations, Is Chair of the Governing Body at Larkhall
Primary School and the Assislant Head, Academic, serves on the Governing Body of a local maintained primary
school.
The School supported Trinity Fields Trust (Charity no. 10608131 in its negotiations with Sir Walter St. John's
Educational Charity to negotiate a new lease and continues to support the Trust via participation in an annual
rental agreement to use its playing fields. The income generated by this agreement is sulficient to ensure that
the Trust's normal operating costs are substantially met year on year enabling the Trust to build a more broadly
based oulreach programme for children and young persons under the age of 25 years who are resident in the
London Boroughs of Wandsworth and Lambeth.
It is hoped that there may be the opportunity to develop the Fields further in the future and improve the facilities.
Although no definitive agreement has been reached, Hornsby House has agreed in principle that they viill
contribute up to £250,000 to the first phase of the development, alongside contributions of £500,000 each from
the Trust and another local school.
Every year the school holds a Harvest Festival Celebration in which pupils bring in food donations for Spires,
South London charity supporting, homeless and vulnerably housed people in our local communities and staff are
encouraged to make a Secret Santa donation to support Ihe charity at Christmas.
The Eco Committee is working with local community group Beautify Balham to malnlain a Ilttle triangular urban
garden close to Hornsby House.
Reserves pollcy
The Charlty's powers of investment are governed by the Trust Act 2000. The Board continues to keep under
review Ihe investment risks and rewards in the current state of the market and its policy is to put short-tem cash
balances on bank deposit.
The Trustees have assessed the major risks to which the School is exposed and are satisfied that Systems are in
place lo mltigate exposure to the major risks.
The Governors have maintained their commitment to the improvement of the School's infrastructure and
retaining a minimum of resenrfes to ensure adequate financial stability and the means to meel its charitable
objective for the foreseeable future,
Plans lor the future
The Board is constantly striving to enhance and develop the School and its links with the local community and
continues its robust oversight of the school. Evaluation and improvements to governance are part of the school,
strategic plan.
The School has a long-term rental agreement with a local sports club Battersea Ironsides. As part of the
agreement, Ihe School funded a 4G Aslroturf on the site and the improvemenl of the nelball courts. This
agreement secured high-quality sports facilities for existing and lulure generations of Hornsby House pupils, and
the local community and ensures that both the School and the Club can continue to provide excellent coaching
and promote an inclusive sporting community for children and adults.
The School continues to invest significantly In ensuring that the IT infrastructure is robust and hardware creates
the enabling leaming environment needed to equip our puplls for a fasl-changing technological worfd.

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Envlronmental responslbllity
Homsby House recognise that environmental responsibility is an important aspect of running a successful long-
term business and the commitment lo sustainability is fundamental to our educational ethas. The Environmental
and Sustainability Policy forms part of the School Development Plan and will be regularly reviewed and amended
according to the changing nature of our operalions. The School uses resources such as the Schools Aclion
Climate Aclion Planner to help identify actions they can take to reduce the environmental impact and monitor
progress towards the objective of reducing our carbon footprint.
Since 2017 Hornsby House has sourced 1000/0 of its electricity supply from renewable sources.
In February 2022 the School installed 8 25kW solar PV system on one building and will consider further
inslallations of solar PV on other buildings on the sile if the roofs have a suitable orientation.
There is a rolling programme to replace our lighting and we have upgraded approximately 700A of lighting to LED,
installed motion sensor light switches to ensure lights are not left on in unoccupied rooms, Sensor taps have
been installed in washrooms to reduce water waste.
The original school building was built circa 1905 and is constructed of single-skin brick work, with high ceilings
and single-glazing. which are difficult to heal in winter and maintain an ambient temperature in the summer. The
level of roof space insulation is unknown but assumed to be much less than the current standard
recommendation. This is an area that the School is actively addressing with its architects and other professional
advisors as we plan for the future.
Future Development
The School has planning permission to extend Ihe Main School Building to the party wall into the space created
by the removal of the existing Portakabins, whilst rotating the hall 90 degrees. This will increase the size of the
auditorium by approximately 500/0. The projecl will focus on sustainatility, both in temis of how Ihe project is built
and also for the wder life cycle and operations of Ihe school. The existing building will be the subject of
extensive reftjrbishment. This will include the installation of a new more efficienl heating system combining air
source heal pumps and solar panels, improving insulation, and replacing windows, internal and external doors on
the ground Iloor. This project is now in progress. The most slgnificanl development is confirmation of the
construction of the modular classroom block at Chestnut Grove which will allow us to relocate from the main
building for the duration of the project.
Dlverslty and Incluslon
At Hornsby House we firmly believe that embracing diversity and building inclusion into everything we do is key
to our success as a school and helps us connect with the communities we serve. The School slrives to make
progress year on year and in September 2021 we launched our ambitious Diversity and Inclusion Development
Plan to run alongside our Outreach programme.
The aim is to develop practical solutions to address identified diversity and, indusion issues and create an
environment in which cultural diversity and individual differences are positively valued within the Hornsby
Community and to embed in all aspects of school life.
We continue to expand our resources wthin the curriculum and across the school to enhance representation.
The art department implemented a school-wide project inspired by the works of artists Veronica Ryan and Rachel
Jones. Heritage displays were established in classrooms, and the music department revised its schernes of work
to incorporate inspiring music from diverse global traditions.
We have developed a strong relationship with Paralympian Blaine Hunt, who we sponsored through various
fundraising events involving the children. Blaine had an impressive summer, retaining his wodd title in the C5
1 km time trial in Rio de Janeiro and competing in his first Paralympics and winning a silver medal in Pari5. He will
be visiting the school in the new academic year for a Q&A session with the students and to share insights about
his journey, his experiences in Paris, and the increased recognition he has received since his achievement.
The Governors acknowledge that Black voice5 are underrepresented in the education sector and will continue to
review the recruitment process to focus on increasing the racial diversity of the Governing Body and within the
School.
The Hornsby House School parent D&1 committee continue to meet regularly, to discuss the progress we are
making, and we will incorporate ideas from their expertise at schools or within industry to underpin our strategy,
as we move forward with our joumey.

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Structurei governance and management
The School is governed by the provisions of the Articles of Association and constitutes a Limited Company,
limiled by guarantee, as defined by the Companies Act 2006.
The word "Limited" is omitted by licence of the Department of Trade & Industry.
The Trustees, who are also the Directors for the purpose of company law, and who served during the year were..
C Aldridge
H D8vles
N Newman
A 8rown
A Skinnard
D Smith
Mr E Nwosu
Mr S Tanna
P Fraley
(Appointed 1 December 2023)
Governors are elected at a meeting of the Board of Governors on the basls of nomlnalions recelved from the
Governors that meet the Board's criteria concerning eligibility, competence, specialist skills, experience and
residence in proximity to the School. The Governors recognise that a diverse Board is more likely to contain a
broader range of knowledge, skills and experience than one which is more narrowly based. The Board continues
to focus on Increasing the diversity of the Governing Body.
Governors serve for 8 tem of three years and are eligible to stand for re-election. This may be extended to
retain experience for a period of time, al the discretion of and subject lo any conditions imposed by the Board of
Governors. In accordance with the provision of Clause 36 of the Articles ofA8sociatlon, the following G@vernor is
due to retire by rolation..
David Smith
Three Governors have been in office for longer than the nine Ilhree times three) years recommended by Lord
Hodgson's review of the Charities Act 2006. Transitional arrangements are being pul in place to attend to this
matter.
New Governors are inducted Into the workings of Hornsby House as a school and also a Registered Charity,
including its Board policy and procedures, via a formal process. The induction pack provided to Governors
includes a number of School documents and policies including:
Articles ofAssocialion
The essential trustee- Charities Commission
Guidelines for governors- AGBIS
Six insights for trustees - Charities Commission
Keeping Children Safe in Education
Papers in respect of the most recent Governing Body Meeting
School development plan
As part of continuous professional development, individual Governor5 regularly attend tailored seminars in key
a5pe¢ls of school governance and management run by AGBIS IAsso¢ialion of Governing Bodies of Independent
Schools), IAPS (Independent Association of Preparatory Schools) and ISBA {Independent Schools Bursars,
Association) or other appropriate organisations.

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Rlsk management
The Board has a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
The Board monitors the School's activlties on a continuous basis, particularly with regard to major risks that
might conceivably arise as identified in the School's Risk Management Policy document, as well as the systems
and proc8dures established to manage them. The Board also monitors the effectlV8ness of internal control
processes and other issues, including insurance cover where appropriate, by which those risks can best be
mitigated. A fonnal review of risk management processes is undertaken by the Board on an annual basis.
The Governors have identlfied the following risks to vthich the School is currently exposed.,
Governance, including compliance with applicabl• regulations and legislalion
Safeguarding of pupils
Financial control
Disaster planning
Loss of reputation
Health and safety
Recruilmenl and retenliori of quality staff
Political position ol independent schools
To mitigate these risks, the Board has in place key controls, which include:
Formal mechanisms for the operation of the Governing Body
Safeguarding and vetting procedures as required by law for the protectlon of children and vulnerable adults
Regular review of formal written policies and procedures
Comprehensive strategic planning. budgeting and accounting procedur¢$
Risk assessments for individual activities and departments
Financial and legal advice, taken as required
The current financial and political climate has raised a number of issues that the GovernoT5 are moniloring. The
introduction of VAT on tuition fees and the withdrawal of business rates relief for independent schools are
potential risks. Acknowledging the challenges associated wAth the cost of TPS membership, the School closed
membership of the TPS for new members of staff. This came into effect on 1st September 2023. The School
also concluded a formal consultation proce55 wilh teaching staff to limit the employer contribution to 23.68 % , with
any future contribution rate rises being met by the employee. The pressures of inflation on the economy and its
impact on salaries and costs has also been monitored and budgeted for. The Governors continue to work
towards solutions and to financially mitigate and plan for these impacts while being mindful ol financial pressures
on parents.

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Organisational management
The Board meets at least three times a year lo determine the general policy of the Charity and review its overall
management and control, for which it is legally responsible. The work of implementing most of the Board's
policies is carried out at these meetings when budgets and annual accounts and reports are also reviewed. The
Chair and Head meet on a termly basis, Ihe designated safeguarding Governor regularly meets With the
Designated Safeguarding Lead and the Finance Governor meets with the Bursar prior to the Govemors, meeting.
All Governors are encouraged to visit the School to observe lessons and meet staff on a regular basis.
The day-to-day running of the School is delegated to the Head and the Bursar, supported by other teaching
members of the Senior Leadership Team comprising the Deputy Head (Pastorall, Deputy Head (External
Relations), and the Deputy Head (Academic). Management structures have been developed to provide regular
forums for the discusslon of academic, pastoral and financial matters.
Staff remuneralion is reviewed by the Board al the Spring Term budget meeting with the policy objective of
providing appropriate incentives to encourage enhanced performance and of rewarding, fairly and responsibly,
individual contributions to the School's success. In agreeing remuneralion levels, reference is Made to
comparisons with other independent schools and other benchmarking data to ensure the School remains
Sensitive to the broader issues of pay and employment condition5 elsewhere.
Organls3tional stru¢tur• and ralatlonshlps
Hornsby House School is an active member ol Ihe Independent Association of Preparatory Schools {IAPS)
whose role is Ihe promotion and maintenance of standards in preparalory schools. Hornsby House also takes
part in SAPS peer group studies for the evaluation of quality and performance-improvement methods. The School
also subscribes to a number of other organisations relating to independent schools, education.
Homsby House benefits from the generosity of a thnving Parents, Association (the HHS PTA) which supports the
School's vibrant, happy community by organi5ing numerous fundraising and social events for parents, teachers
and pupils. such as a Christmas Market, Qulz Supper and Summer Fete. Their dose support is gladly
acknowledged and appreciated.
Employee Involvement
The School supports all slaff by investing in Iraining, development, and diversity and Inclusion. An annual
confidential staff survey helps measure and Monitor progress and enables Hornsby House to focus on Ihe
tangible and practical actions we can take to support a whole school approach to mental health and wellbeing.
All staff have access to a free and confidenlial, Employee Assistance Programme (EAP) from Education Support
Partnership (ESP), a charity that provides employee support services for anyone working in education.
All staff are encouraged to be involved in school events. Teachers are also expected to play an important role in
the School's community life by becoming associated with one of the six Houses within the school, planning and
taking part in events such as educational trips (including residential trips when appropriate), assemblies and
other more informal social events.
Information of matters of concern to employees is given through weekly staff meetings which seek to achieve a
comTnon awareness on the part of all employees of the socio-economic and financial factors affecting the
School's performance.
At 31 August 2024, the School employed a total of 79, (FTE 71), teachers and asslstant teaching staff and 13,
(FTE 11), support staff.
10-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND
STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
Statement of Trustees, responslbllities
The trustees, who are also directors of Hornsby House Educational Trust for the purposes of company law, are
responsible for preparing the Trustees, Annual Report, including the Strategic 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 Iwstees 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,.
select suitable accounting policies and then apply them consistently,,
observe the methods and principles in the Charities SORP 2015 IFRS 1021.
make judgements and eslimales that are reasonable and prudent.,
stale whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements.,
prepare the financial st81ements on the going concern basis unless it is inappropriate to presume that the
charitable company will conlinue in operation.
The trustees are responsible for keeping adequale accounting records that disclose with reasonable accuracy at
any tlme the financial position of Ihe charitable company and enable them lo 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.
Audltor
The auditor, Ward Williams Limited, is deemed to be reappointed under section 487(21 of the Companies Act
2006.
DlJclo8ur• of Informatlon to audltor
Each of the Trustees has confirmed thal there is no information of which they are aware which is relevant to the
audll, bul of which the auditor is unaware. They have further Confirmed that they have taken appropriate steps to
identify such relevant information and lo establish that the audilor is aware of such information.
The Trustees, report, including the strategic report, was approved by the Board of Trustees,
C Aldridge
Trustee
£*lslk>Zf
11

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF HORNSBY HOUSE EDUCATIONAL TRUST
Opinion
We have audited the financial statements ol Hornsby House Educational Trust (the 'School') lor the year ended 31
August 2024 which comprise the statement of financial activities, the statement of financial position, the statement
ol cash flows and the notes to the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and Uniled Kingdom
Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applic8ble in
the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its
incoming resources and applicatlon of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice-
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnion
We conducted our audit In accordance with Internation21 Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit of
the accounts section of our report. We are independent of Ihe School in accordance with the ethical requirements
Ihat are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard. and we have lulfilled
our other ethical responsibilities in accordance with these requirements. We believe thal the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to goSng concern
In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any materlal uncertalnties relating to events or
conditlon5 that, individually or collectively, may cast significant doubl on the Schools's ability lo continue as a going
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilitles and the responsibllities of the trustees with respect to going conc8m are described in the
relevant section5 of this report.
Other informatlon
The trustees are responsible for the other information. The other information comprises the infomiation included in
the trustees, annual report, other than the financial statements and our auditor's report thereon. Our opinion on the
financial slatements does not cover the olher 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 malerially inconsistent with the financial Statements or our
knowledge obtained in the audit or othernise appears to be materially mi5Stated. If we identify such material
incansistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misslaternent of the other information. If, based on the work
we have performed, we conclude that there is a material misstatement ol this other information, we are required to
report that fact.
We have nothing to report In this regard.
12-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT (CONTINUED) .
TO THE TRUSTEES OF HORNSBY HOUSE EDUCATIONAL TRUST
Matters on whlch we are requlred to report by exception
We have nothing to report in respecl of the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 require u5 to report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect with the Trustees,
report., or
sufficient accounting records have not been kept,. or
the financi81 statements are not in agreement with the accountlng records., or
we have not received all the infomiation and explanats'ons we require for our audit.
Responslbllltles of Trustees
As explained more fully in the trustees, responsibilities statement sel out on page 11, the trustees are responsible
for the preparBlion of financial statements which give a true and fair view, and for such internal control as Ihe
trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group's 8nd parent charity's
ability to continue as a going concern, disclosing, as applicable, matters related lo 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 realistlc 8lternative but to do so.
13-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF HORNS8Y HOUSE EDUCATIONAL TRUST
Auditor's responslbllities for the audit of the financial statements
We have been appointed as auditors under section 144 of the Charities Acl 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are lo oblain reasonable assurance about whether the financial statemenls as a whole are free from
material mlsslatement, 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. Misstalemenls can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in
line wilh our responsibilities, outlined above, to detect material misstalements in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We obtained an understanding of Ihe legal and regulatory frameworks applicable to the charity and the
sector in which they operate. We determined that th8 following wer8 most significant.. the Companies Act
2006, the CharitiesAct 2011.
We obtained an understanding of how the charity are complying with those legal and regulatory
frameworks by making inquiries lo the management of the charity. We corroborated our inquiries through
our review of correspondence during our audit work.
We assessed the susceptiblliiy of the charity's financial statements to material mSsstatement, ineluding how
fraud might occur. Audit procedures performed included..
Identlfying and assessing the design effectlveness of controls management ha$ In place to
prevent and detect fraud,
understanding how thost charged wilh governance considered and addressed thè potential for
override of controls or other inappropriate influence over the financial reporting process.,
challenging assumptions and judgements made by management in its significant accounting
estimates;
identifying and testing journal entries, in partlcular and journal entries posted with unusual account
combinations., and assessing the extent of compliance with the relevant laws and regulations.
Because of the inherent limitations of an audlt, there 58 a risk that we wlll not delect all Irregularllles, including those
leading lo a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial statements, as we will be less likely lo become aware of instances of non-compliance. The risk is
also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional
concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al.. http'.Il￿￿.frc.org.uKIaudllorsre$p0￿sIbIIitIes. This description fomis part of our
auditor's report.
14-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF HORNSBY HOUSE EDUCATIONAL TRUST
Use ol our report
This report is made solely to the Charity's Trustees, as a body. in accordance with section 144 of the Charitie5 Act
2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might
stale to the charity's Trustees those matters we are required lo state to Ihem in an auditors, report and for no other
purpose. To the fullest extent permitted by law, we do nol accept or assume responsibility to anyone other than the
charity and its Tr
stees as a body, for our audit work, for this report, or for the opinions we have formed.
Colln Hamllton (Senior Statutory Auditor)
for and on behalf of Ward Wllllams Llmlted
Chartered Accountants
Statutory Audltor
8elgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
Ward Wlliams Limited is eligible for appointment as auditor of the School by virtue of its eligibility for appointrnent
as auditor of a company under of seclion 1212 of the Companies Acl 2006
15-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
Inc
me and end
Donations and legacies
Charitable aclivities
Investments
Olher income
wm
sfro
15,858
25,963
9,020.219 8,259.733
212.592
85.207
14,675.
28,838
Total income
9,263,344 8,399,741
enditure on.
Charitable activities
8,181,069 7,495,864
Net Income for the yearl
Net movement In funds
1,082,275
903,877
Fund balances at 1 September 2023
11,797,569 10,893,692
Fund balances at 31 August 2024
12,879,844 11,797,569
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006,
16-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024
2024
2023
Notes
Flxed assets
Property. plant and equipment
Current assets
Debtors falling due after one year
Debtors falling due within one year
Cash at bank and in hand
11
8,183,329
6,413,044
13
13
188,000
219,221
9,302,528
203,000
163,083
8,884,218
9,709,749
(3,829,963)
7,250,301
{705,489)
Currenl Ilabilities
14
Net current assets
5,879,786
6,544,812
Total assets less current1Sabllltles
14,063,115
12,957,856
Non-current Ilabllltles
16
(1,183,271)
(1,160,287)
Net assets
12,879,844
11,797,569
Income funds
Unr
Designated funds
General unrestricted funds
17
90,000
11,707,589
12,879,844
12,879,844
11,797,569
12,879,844
11.797,569
The financial statements were approved by the Trustees on .
zilsl
C Aldridge
Trustee
A Brown
Trustee
Company Reglstratlon No. 2270044
17-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
Cash flows from operating activities
Cash 9enerated from operations
22
4,629,850
1,106,453
Investing activltles
Purchase of property, plant and equipment
Pro￿ed5 on disposal of propety, plant and
equiprnent
Interest received
(2,424,134)
(417,896)
19,500
85,207
212,592
Net cash us&d in investlng activitles
(2,211,541)
1313,189)
Net cash used In financlng actlvitles
Net Increase In cash and cash equlvalents
2,418,309
793,264
Cash and cash equivalents at beginning of year
6,884,218
6,090,954
Cash and cash equivalents at end of year
9,302,528
6,884,218
18-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng pollcles
Charity infomiation
Hornsby House Educational Trust is a privale company limited by guarantee incorporated in England and
Wales. The registered office is Hornsby House School, Hearnville Road, London. SW12 8RS.
1.1 Accounting conventlon
The accounts have been prepared in accordance wth the School's governing document, the Companies Act
2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 102). (as amended for accounting periods commencing from 1 January 2016)-
The School is a Public Benefil Entity as defined by FRS 102.
The financial statements are prepared in sterfing, which 13 the functional currency of the School. Monetary
amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include certain financial
instruments at falr value. The pnncipal accounting policies adopted ere sel out below.
1.2 Golng concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the School has
adequate resources to continue in operational existence for the. foreseeable future. Thus, the Trustees
continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charilable funds
Unrestricted lunds are avallable for use al the discretlon of the Trustees in furtherance of their charitable
objectives, unless the funds have been designated for other purposes.
1.4 Incomlng resources
Income is recognised when the School is legally entitled to It after any performance condilions have been
met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipl. Other donations are recognised once the School has been notified
of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in
relation to donalions received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the School has been nolified of an impending distribution,
the amount is known, and receipt is expected, If the amount Is not known, the legacy is treated as
contingenl asset.
Interest on fund5 held on deposit is included ￿en receivable and the amount can be measured reliably by
Ihe School.
Income is measured al the fair value of the conslderation received or receiveble and represents gross fees
invoiced minus credit notes raised. Fees are charged in the period the tuition is provided. Fees invoiced in
advance of the education to be provided are shown wthin creditors 85 "fees in advance"
19-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies
(Continued)
1.6 Re90urce$ exp8nded
Resources expended are included in the Statement of Financial Activities on an accruals basis.
School operating costs are induded in tharitable activities. Other Costs Include general School costs.
Governance costs include those costs incurred in the governance of the School and are primarily associated
with constitutional and Statutory requirements.
1.6 Property, plant and equipment
Property, plant and equipment are initially measured al cost, net of depreciation and any Impairment losses.
Depreciation is recognised so as to write off the cost or valualion ol assets less their residual values over their
useful lives on the following bases..
Freehold buildings
Minor freehold improvements
Fixtures and fittings
Computers
411A per annum on straight line basis
10 to 200A per annum on straight line basis
20Yo per annum on straight line basis
330/0 per annum on straight line basis
Freehold land and assets in the course of construction are not depreclated.
The gain or loss arising on the disposal of an asset 15 determined as the difference between the sale
proceeds and the carrying value of the asset, and Is recognised in net in¢ornel{expenditure) for the year.
The difference belween the carrying value of freehold land and buildings and the market value has not been
quantified. The Govemors consider that oblaining a current valuation would incur significant costs which
would be onerous and inconsistent with the benefit which might be gained by the users of the accounts.
Finance costs have not been capitalised bul expensed when incurred,
1.7 Impalrment of non-current assets
At each reporting end date, the School reviews the Carying amo¢Jnts of its tangible asset8 to determine
whelher there is any indication that those assets have suffered an impairmenl loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to detemine the extent of the impairment
loss lif any).
Liabilities are recognised initially at historical cost and subsequently measured at the best estimate of the
amount required to settle the obligalion at the period end dale. Any provision or liability which wi51 settle over
several years will be adjusted to reflect its reduced value in today's terms, where material.
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments wth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
-20-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng policies
(Contlnued
1.9 Flnanclal instruments
The School has elected to apply the provisions of Section 11 'Basic Finanaal Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the School's balance sheet when the School becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offsel, with Ihe net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and Ihere is an intention to settle on a
nel basis or to realise the asset ané settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other recelvables and cash and bank balances, are initially
measured at transaction price including transaction costs and are subsequently carried at amortised cost
uslng the effectlve int8rest method unless Ihe arrangement constitutes a financing tr8ns8clion, where the
transaction is measured at the present value of the future receipts discounted at a market rate of Interest.
Financial assets classified as receivable within one year are not amortised.
Baslc financial liabilitles
8asic financial liabilities, induding trade and other payables and bank loans are initially recognised at
transaction price unless the arrangemenl constitutes a financing transaction, where the debt instrument is
measured at the present value of the future payments discounted at a market rate of interest. Financial
liabilities classified as payable wlthin one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for good5 or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, Ihey are presented a5 non-currenl liabilities. Trade payables are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interesl method.
Derecognltlon of Ylnanclal Ilabllltles
Financial liabilities are derecognised when the School's contractual obligations expire or are discharged or
cancelled.
1.10 Taxatlon
Value added tax
Value added tax is not recoverable by the School and as such Is included in the relevant costs in the
statement ol Financial Aclivities.
Taxation
The School is exempi from corporation tax on its charitable activilies.
1.11 Employee beneflts
The cost of any unused holiday enlitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the School is demonstrably committed
to terminate the employment of an employee or to provide termination benefits.
21

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng policle•
Icontlnued)
1.12 Retlrement beneflts
The School contributes to the Teachers, Pension Agency Defined Benefits Scheme at rates set by the scheme
actuary and advised to the School by the scheme administrator. The Scheme is a multi-employer pension
scheme and it is nol possible to identify the assets and liabilitie5 of the Scheme which are not attributable to
the School. In accordanc8 Wtth FRS102, the Scheme is accounted for as a defined contribution scheme and
contributions are accounted for when advised as due by the Scheme administrator.
The School also contributes to other schemes, as stated in note 16.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due, in
accordance with the wles of the schemes.
1.13 Leases
Rentals payable under operating leases, includlng any lease incentives received, are charged to income on
straight line basis over the term of the relevant lease.
1.14 Advance fee payments and parent deposlts
Parents may enter Into an arrangemenl with the School to pay tuition fees In advance. There is no Interest
paid on the advance fees and future fees are not capped. The advance payments are recorded as deferred
income until the criteria for income recognition are met. Fees will be recognised in the period to which they
relate. Parents also pay deposits lo secure a child's future place al the School. These are refundable and are
reflected within the School's liabilities on the Stalement of Financial Position.
Crltlcal accountlng estlmates and Judgements
In the application of the School's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily epparent
from other sources. The estimales and associated assumptions are based on historical experience and other
factors that are considered lo be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised In the period in which the estimate is revised where the revision affects only that
period, or In the penod of the revision and future periods where the revision affects both current and future
periods.
Crftlcal Judgements
Dlscountlng of non-current par8nt deposlts held
The School has discounted the parental deposits that are expected to be held for over one year, based on an
assumed cost of capilal rate. The cost of capital was decided upon after evaluating current interest rates and
the School's current debt position and will continue to be reviewed on an annual basis.
Classlflcatlon of leases
The School has undertaken an analysis to classify the leases it holds as a lessee, as either operating or
finance leases. The accounting policy for leases has been applied to these arrangements and Ihe assets are
recognised as operating lease arrangements, with the relating expense charged through the School's
Statement of Financial Activities.
-22-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Critlcal accountlng e8tlmat89 and Judgements
(Contlnued
Key sources of estimatlon uncortalnty
Depreclatlon of tanglble flxed assets
The charge in respect of periodic depreciation is derived after determlnlng an estimate of an asset's expected
useful life and the expected residual value at the end of its life. Increasing an asset's expected life or its
residual value would result in a reduced depreciation charge in the Statement of Financial Activities and
increased carrying amount of assets in the Statement of Financial Position.
The useful lives of the School's assets are determined by management at the time the asset is acquired and
reviewed al least annually for appropriateness. The lives are based on historical expenence wilh similar
assets as well as anticipation of future events, which may impact Iheir life, such as changes in technology.
Donatlons and legacles
2024
2023
Donations and gifts- Fundraising event5
15,858
25,963
Charltable activlties
2024
2023
School fees
Extra lessonslclubsrtrips
School registration fees
Discounts given
Catering
8,323.929
336,104
20,800
(155.239)
494,625
7,647,354
271,860
21,712
(125,573)
444,380
9,020,219
8,259,733
Investments
2024
2023
Interest recelvable
212.592
85,207
-23-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Other income
2024
2023
Net gain on disposal of tangible fixed assets
Other income
19,500
9,338
14,675
14,675
28,838
Charltable actlvltles
2024
2023
staff costs
Depreciation and impaimient
Class materlals and lesson costs
Catering costs
Charitable donations
Staff welfare
Playing fields rental
Establishment costs
Legal and professional fees
Sundry expenses
Advertising and marketing
Computer and printing costs
Entertaining
Other charitable expendlture
5,264,638
653,847
507,882
433,753
9,760
119,475
285,858
541,908
73,791
23,857
99,722
105,181
1,175
50,022
4,899,402
607,911
454,017
352,401
14,273
98,077
175,071
590,620
44,745
18,817
76,298
103,123
892
50,817
8,170,869
7,486,264
Share of govemance Costs (see note 81
10,200
9.600
8,181,069
7,495,864
Analysis by fund
Unrestricted funds
8,181,069
8,181,069
For the year ended 31 August 2023
Unrestricted funds
7,495,864
7,495,864
-24-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Governance costs
2024
2023
Audit lees
10,200
9,600
10,200
9,600
Trustees
None ol the Trustees received any remuneration or benefils from the School during the year,
There were no Governors, expenses pald for the year ended 31 August 2024 or for the year ended 31 August
2023.
10 Employeeg
Number of employees
The average monthly number employees during the year was..
2024
Number
2023
Number
Teaching and support staff
' Administration, IT and caterlng slaff
86
14
83
14
ioo,
97
Employmént costs
2024
2023
Wages and salaries
Social security costs
Olher pension costs
4,099,498
428,494
736,646
3,839,784
413.935
645,683
5,264,638
4,899,402
The number of employees whose annual remuneration was £60,000 or more
2024
Number
2023
Number
£60,000- £69,999
£70.000- £79,999
£80,000- £89,999
£90,000- £99,999
£100,000- £129,999
-25-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
11 Property, plant and equipment
Freehold Flxture¥ 8nd
bulldlngs
flttlngs
Campui•rJ
Total
Cost
At 1 September 2023
Additions
Disposals
10,615,690 1,593,246
2,268,427
22,729
517,068
132,978
(191,792)
12,726,004
2,424,134
(191,792)
At 31 August 2024
12,884,117 1,615,975
458,254
14,958.346
D•pr•clatlon and impalmi•nt
At 1 September 2023
Depreciation charged In the year
Eliminated in respect of disposals
4,776,851 1,175,787
410,750
174,436
360,322
68,663
(191,792)
6,312,960
653,849
(191,792)
At 31 August 2024
5,187,601
1,350,223
237,193
6,775,017
Carrylng amount
At 31 August 2024
7,696,516
265,752
221,061
8,183,329
At 31 August 2023
5,838,839
417,459
156,746
6,413,044
The carrying value of land included in land and buildings comprises..
2024
2023
Freehold
1,000,000
1,000,000
All fixed assets are used for charitable purposes.
26-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
12 Financlal Instrument8
2024
2023
Carrying amount of flnanclal ag58ts
Debt instruments measured at amortised cost
316,234
276,715
Carrylng amount of financlal Ilabllltles
Measured at amortised cost
4,911,750
1,865,776
13 Trade and other recelvables
2024
2023
Amounts falllng due wlthln one year:
Trade receSvables
Other receivables
Prepayments and accrued Incomè
64,176
64,058
90,987
56,784
16,931
89,368
219,221
163,083
2024
2023
Amount8 falllng duo after more than one year:
Other recelvables
188,000
203,000
Tolal debtors
407,221
366,083
14 Current liabllllles
2024
2023
Other taxation and social security
Trade payables
Other payables
Accruals and deferred income
101,484
152,338
155
3,575,986
124,595
175
580,719
3,829,963
705,489
In the past, bank loan5 were secured on the freehold property of the school. They were repaid in full during
the year ended 31 Augu$t 2018.
Legal charges continue to exist over the assets of the School in favour of The Royal Bank of Scotland.,
however, no loans are outstanding In ￿latIon to Ihese charges.
-27-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
15 Non-current liabilities
2024
2023
Accruals and deferred income
1,183,271
1,160,287
16 Retlrement beneflt scheme?
Defln8d contrlbutlon schemes
The School participates in the Teachers, Pension Scheme I'the TPS'I for its teaching staff. The pension
charge for the year includes contribution5 payable to the TPS of £724,920 {2023.' £645,377) and at the year-
end £87.046 (2023.. £87,863) 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 contribulions 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 actuarial valuation of the TPS was prepared a¥ at 31
March 2020 and the Valuation Report, which was published In October 2023, confirmed that the employer
contribution rate for the TPS would increase from 23.60A to 28.60kn from 1 Apnl 2024. Employers are also
required to pay a scheme administration levy of 0.080/0 giving a total employer contribution rate of 28.680/0.
The 31 March 2020 Valuation Report was prepared In accordance with the benefits set out in the scheme
regulations and under the approach specified in the Direclions, as they applied at 26 October 2023. However.
the assumptions were considered and sel by the Department for Education prior to the ruling in the 'McCloudl
Sargeant case,. This case has required the courts to consider cases regarding the Implementatlon of the 2015
reforms to Public Service Pensions including the Teachers. Pensions.
On 27 June 2019 the Supreme Court denied the government permission to appeal the Court of Appeal's
judgmenl Ihat transitional provisions introduced to the reformed pension schemes in 2015 gave nse to
unlawful age discrimination. The government is respecting the Court's decision and has said it will engage
fully wilh Ihe Employment Tribunal as well as employer and member representatives to agree how the
discriminations will be remedied. The government announced on 4 February 2021 that it intends to proceed
wilh a deferred choice underpin under which members will be able lo choose either legacy or reformed
scheme benefits in respect of their service during the period between 1 April 2015 and 31 March 2022 al the
point they become payable.
The TPS is subject to a cosl control methanism which was put in place to protect taxpayers against
unforeseen changes in scheme costs. The cost cap implementation period is from 1 April 2024 to 31 March
2027. This can come in hvo forms, core and economic. The range of rates lying be￿een the employer cost
cap corridor of *3QA. If the cost cap costs of the scheme both lie outside of this corridor in Ihe same direction,
then a breach is deemed to have occurred. The core cost cost cap cost of the scheme 8.1 DA of pensionable
pay. which is 2.80kn below the 10.gOA employer cosl cap. As Ihere is no breach of the cost control mechanism.
there is no requirement for the Secretary of State for Education to consult on changes to the scheme.
-28-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
16 Retirement benefit schemes
(Continued
The 2016 cosl control valuations have since been completed in January 2022, and the results indicated that
there would be no changes to benefits or member contributions required. The results of the cost cap valuation
are not used to set the employer contribution rate, and HM Treasury has confirmed that any changes to the
employer contribution rate resulting from the 2020 valuations will take effect in April 2024.
With effect from 1 September 2023, the School has closed the TPS for new members of staff, Those new
members of staff will instead be enrolled in the Aviva Pension Trust for Independent Schools
(APTISI. Furthermore, with effect from 1 May 2024, the School, following teaching staff consultation, have
implemented a cap on the employer rate to the TPS al 23.6D/o, Wlth any future contribution rate rises being met
by the employee. The School will offer existing teaching staff mernbership of the APTIS defined contribution
scheme as an alternelive to the TPS.
For all other employees, the School makes contributions into two defined contrlbution pension schemes
administered by Scottish Widows and Legal & General, respectively. As at the balance sheet date, there were
2 active members of the Scottish Widows scheme and 27 employees enrolled in the Legal & General scheme.
The assets of the two schemes are held separately from those of the School in independently adminislered
funds.
17 Deslgnated funds
The income funds of the charity include the followin9 desi9naled funds whlch have been set aside out of
unrestricted funds by the trustees for specific purposes..
In carrying out this charitable duty, the Governors are Committed to the School's contribution to the wider
community and this year have established a separale designated fund to support bursaries and outreach
projects in future years.
18 Analys18 of net a83818 between funds
Total
Fund balances at 31 August 2024 are represented by..
Property, plant and equipment
Current assetsl{liabilitiesl
Long term liabilities
8,183,329
5,879,786
(1,183,271)
12,879,844
-29-

HORNSBY HOUSE EDUCATIONAL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
19 Operating lease commltments
At the reporting end date the School had outstanding commitments for future minimum lease payments under
non-cancellable operating leases, which fall due as follows:
2024
2023
Mfithin one year
Between two and five years
10,598
42.394
9,600
52,992
9,600
20 Contlngent Liabilities
There is a contingent liability relating to the Trinity Fields contracts of £250,000.
21 Related party transactlong
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2024
2023
Aggregate compensation
520.244
509,048
The School paid £817 for insurance for professional indemnity and governors. liabillty (2023.. £729).
22 Cash generated from operatlons
2024
2023
Surplus for the year
1,082,275
903,877
Adjustments for..
Investment income recognised in statement of financial activilies
Gain on disposal of property, plant and equipment
Depreciation and impairment of property, plant and equlpment
(212,592)
(85,207)
(19,500)
607,911
653,847
Movements in working capital..
{Increasel in trade and other receivables
Increaselldecrease) In trade and other payables
(41,138)
3,147,458
(28,180)
<272,448)
Cash generated from operations
4,629,850
1,106,453
23 Analysis of changes in net funds
The School had no debt during the year.
-30-