2025-08-31-accounts

Seaton House School

Audit findings Year ended 31 August 2025

Seaton House School

31 August 2025

Contents

1.	Introduction .................................................................................................... 2
	a. Purpose of report ..................................................................................... 2
	b. Responsibilities of the Trustees ............................................................... 2
	c. Independence .......................................................................................... 2
2.	Status and the audit report............................................................................. 3
3.	Significant matters discussed during the audit ............................................... 3
4.	Materiality and adjustments ........................................................................... 3
	a. Adjustments made ................................................................................... 4
	b. Potential adjustments ............................................................................... 4
5.	Accounting and financial control systems ...................................................... 5
	a. Expenditure approval ............................................................................... 5
	b. Existence of fixed assets .......................................................................... 5
	c. Employment contracts .............................................................................. 6
	d. VAT returns .............................................................................................. 6
6.	Other matters ................................................................................................. 7
	a. Companies House charges ...................................................................... 7
	b. Food hygiene certificate ........................................................................... 7
	c. Representation letter ................................................................................ 7
7.	Updates ......................................................................................................... 7
	a. Companies House changes ..................................................................... 7
	b. Revision of Charity SORP ........................................................................ 8

Appendices:

A: Information required before signing accounts B: Draft representation letter

Audit findings

Page 1

Seaton House School

31 August 2025

1. Introduction

a. Purpose of report

This report has been prepared for the benefit of discussion between Xeinadin Audit Limited and the Trustees of Seaton House School. The purpose of this report is to highlight the key issues arising from the audit of the financial statements for the year ended 31 August 2025.

Our remarks are not intended to convey any criticism of any officers or staff of the charity and we would like to thank them for their efforts which enabled us to successfully complete our work.

b. Responsibilities of the Trustees

The Trustees are responsible for the preparation of the financial statements and for making available to us all the information and explanations we consider necessary. Therefore, it is essential that the Trustees confirm that our understanding of all the matters referred to in this report is appropriate, having regard to their knowledge of the particular circumstances.

We would point out that the matters dealt with in this report came to our notice during the conduct of our normal audit procedures which are designed primarily for the purpose of expressing our opinion on the financial statements.

In consequence, our work did not encompass a detailed review of all aspects of the system and controls and cannot be relied upon necessarily to detect fraud or other irregularities, or to include all possible improvements in internal control that a more extensive special examination might develop.

c. Independence

Ethical standards require us to give you full and fair disclosure of matters relating to our independence.

Xeinadin Audit Limited provides audit services in accordance with the terms of our engagement letter.

Accounting services, including assistance with payroll, VAT returns and the preparation of the statutory annual financial statements has been provided through JCS Accountants Limited, who are part of the Xeinadin Group.

We wish to confirm to you that in our opinion the provision of non-audit services does not affect our independence and objectivity as we have the following effective safeguards in place. The additional services provided are:

• performed by individuals other than those carrying out the audit;

• of a routine compliance nature;

Audit findings

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Seaton House School

31 August 2025

• discussed in detail with you so that you can reach your own judgement regarding them.

2. Status and the audit re ort p

We anticipate issuing an unmodified audit report on the financial statements. However, we will require updates on any post balance sheet events and going concern status before signing off, as detailed in Appendix A.

3. Si nificant matters discussed durin the audit g g

During the course of the audit we have had the full cooperation of management and all matters arising have been discussed and resolved.

4. Materialit and ad ustments y j

The concept of materiality is fundamental to the preparation of the financial statements and to the audit process. If the identified unadjusted differences fall below materiality both individually and in aggregate, we would not modify or qualify our audit report.

We initially set materiality levels as below:

	Fixed assets	Other areas
Materiality	£50,000	£23,000
Trivial	£2,500	£1,150

Initial materiality levels are calculated at 2% of fixed assets and 1% of income to enable us to plan our work and consider and record issues found.

However, the true level of materiality is more subjective, being corrections which if made, would give the reader of the financial statements a significantly different view of your results and year end position. The overall effect of all issues found are judged against this criteria at the conclusion of our work, rather than the initial materiality.

We highlight any potential adjustments identified during our audit below which are in excess of those that are considered clearly trivial so you have a complete picture of matters arising during our work.

Audit findings

Page 3

Seaton House School

31 August 2025

a. Adjustments made

The following adjustments have been made to the figures presented for audit:

Adjust VAT liability for irrecoverable amounts Adjust August VAT return Adjust debtors for school fee invoices raised Adjust deferred income for school fee invoices raised Recognising capital goods scheme VAT debtor Reducing tangible fixed asset cost for the capital good scheme claim Reducing the depreciation in relation to the reduction of asset cost Per financial statements Effect of adjustments made: Net effect of adjustments Per original trial balance To correct VAT liability To correct VAT capital good scheme debtor	Net assets £ (12,313) (110,538) 451,515 (340,977) 172,962 (172,962) 3,459 (8,854) 2,776,500 2,767,646	Surplus/ (deficit) £ (12,313) - - - - - 3,459
		(8,854) 139,364
		130,510

b. Potential adjustments

The total of potential adjustments as noted below falls below the initial audit materiality level. Therefore, even without these being adjusted for, the financial statements continue to represent a true and fair view of the charity’s affairs at the balance sheet date and results for the year.

Adjust for missing prepayment Adjust depreciation for misclasified prepayment Net result if all misstatements were adjusted Effect of potential adjustments: Net effect of potential adjustments Per financial statements To correct prepayments	Net Surplus/ assets (deficit) £ £ 4,517 4,517 278 278 4,795 4,795 2,767,646 130,510 2,772,441 135,305

Audit findings

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Seaton House School

31 August 2025

5. Accountin and financial control s stems g y

The charity's management is responsible for the identification, assessment, management and monitoring of risk, for developing, operating and monitoring the system of internal control and for providing assurance to the Board that it has done so.

The purpose of an audit is to express an opinion on the financial statements. An audit does not examine every activity and procedure in the charity, nor does it provide a substitute for management to maintain adequate controls.

Our audit included consideration of internal controls relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal controls.

The matters being reported here are limited to those deficiencies that we have identified during the course of our audit and we have concluded are of sufficient importance to merit being reported to you. It is not meant to be a full and accurate reflection of all weaknesses that may be present in your system.

a. Expenditure approval

Issue

During the audit we requested a sample of 36 expenditure invoices. Five of these had no evidence that they were authorised prior to payment.

Consequence

Charities are required to keep a clear audit trail to support all expenditure transactions, which includes evidence of authorisation at the appropriate level.

Recommendation

We recommend that all invoices are signed as approved prior to payment; or that copies of alternative approvals, such as emails, are kept.

b. Existence of fixed assets

Issue

The fixed asset register contains many older assets that are fully depreciated. The register has not been reviewed recently for the existence of assets, so it is unknown whether the assets recorded as still owned or used by the school.

Consequence

If the assets are still in use, it suggests that the depreciation rates selected may be too high.

Recommendation

The fixed asset register should be regularly reviewed to ensure that the accounts accurately show the assets held by the school.

Audit findings

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Seaton House School

31 August 2025

Depreciation rates should be reviewed to ensure that they reflect the expected useful lives of new asset purchases.

c. Employment contracts

Issue

During the audit we requested a sample of 10 employment contracts, of which one was not signed by the school.

Consequence

Employment contracts should be signed by both the employee and the employer to prevent any potential disputes. Both parties should retain a copy of the signed version.

Recommendation

We recommend that all employment contracts are reviewed to ensure they are signed by both parties.

d. VAT returns

Issue

Issue During the audit, we noted that the August VAT return had omitted Autumn term fees that were invoiced prior to 31 August 2025 (the end of the VAT quarter).

Consequence

VAT must be accounted for based on the "tax point" (time of supply). The tax point is established by the earliest of the following dates:

• The date the invoice is issued.

• The date payment is received.

• The date the goods or services are delivered.

By omitting invoices raised before the period end, the VAT liability for August was understated by £109,618. This creates a risk of non-compliance with tax regulations and could result in penalties or interest charges for late payment.

Following detection during the audit, management have contacted HM Revenue & Customs to make voluntary disclosure of the error.

Recommendation

We recommend that procedures are updated to ensure that the tax point rules are strictly applied to all term fee invoices, regardless of when the academic term commences.

Audit findings

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Seaton House School

31 August 2025

Subject to these points, we are pleased to report that the accounting records are well maintained and clearly presented. In making our recommendations, we have considered the size of your organisation and the number of staff you employ. We shall be glad if you will let us know what steps have been taken in connection with the above.

6. Other matters

a. Companies House charges

There are six outstanding charges listed on Companies House relating to the school. These are older charges, which we believe have been satisfied. We recommend you contact Companies House to remove these.

b. Food hygiene certificate

During the audit we requested to see the school’s food hygiene certificate and were informed that the school was not registered and have not informed the council that the school distributes food. We recommend that you register as a food distributor.

c. Representation letter

We are required by auditing standard ISA 580 to obtain written representations from those charged with governance of the charity. These representations confirm various matters or support other audit evidence we have obtained.

The trustees should be satisfied that they can make each of the representations included in the letter based on enquiries with management and staff with relevant knowledge and experience (and, where appropriate, of inspection and supporting documentation).

A copy of the draft representation letter is attached (see Appendix B). There are no new matters of significance included in this year’s letter.

7. U dates p

a. Companies House changes

Companies House are introducing a new regime to identify all new and existing directors and people with significant control (PSCs). The easiest route for verifying your ID will be through Companies House directly, free of charge. Verify your identity for Companies House - GOV.UK. Voluntary verification is now available.

Audit findings

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Seaton House School

31 August 2025

Mandatory verification is being rolled out in two phases:

• ❖ From 18 November 2025, all companies incorporating, new directors and new PSCs will need to verify their identity using the new process.

• ❖ There will then be a 12 month transitional period for existing directors and PSCs to verify their identity using the new process, to be able to file their annual confirmation statement.

Companies House have also indicated that from April 2027; paper copies of accounts will no longer be accepted. This means that accounts currently prepared in WORD will need to be ‘tagged’ by software in order to be filed electronically. We will assist you with this once the exact requirements and solutions are clear.

b. Revision of Charity SORP

The Financial Reporting Council (FRC) has issued substantial amendments to Financial Reporting Standard 102 (FRS102), that aim to ‘enhance the quality of UK financial reporting’ by aligning UK Generally Accepted Accounting Practice with International Financial Reporting Standards (IFRS) in key areas. Charities report under the Charities SORP which uses FRS 102 as its base.

The revised Charities Statement of Recommended Practice (SORP) (FRS 102) was published on 31 October 2025 and applies to reporting periods starting on or after 1 January 2026.

The amendments include:

Lease accounting The current FRS 102 allows charities account for operating leases as an expense. The new FRS 102 requires charities to account for most operating leases on the balance sheet. This is unlikely to affect your financial statements significantly.

Trustees’ Annual Reports requirements have been refreshed with additional guidance on how to report financial reserves and plans about the future. There are also dedicated sections and guidance on areas that are of particular interest to the public and donors, including impact reporting, environmental, social and governance issues.

https://www.charitysorp.org/

Audit findings

Page 8

Appendix A

Information required before signing audit report

Going concern assessment

Before sign off we will need information from you setting out your up to date assessment of whether the organisation is a going concern. This means you should assess whether your organisation can continue its operations and meet its liabilities as they fall due for a period of at least 12 months from the date of signing of the accounts. We will need to see supporting evidence for this assessment which will include:

• post balance sheet results and/or management accounts including a balance sheet as close to the date we sign our report as possible;

• financing limitations for at least the next 12 months;

• impact of key events or decisions including your response to inflationary or other relevant external pressures; and

• forecasts and budgets for at least the next 12 months, including monthly forecast cashflows.

Please answer the following specific points about your forecasts:

1. Describe the methods and assumptions used.

2. Does this method differ from that used in previous years?

3. What period do the forecasts cover (this has to be at least 12 months from the date of signing the accounts )?

4. Do they consider a range of scenarios and stress test them where relevant?

5. Have you considered the following areas in your assessment: a. Inflation

6. b. Capital expenditure

7. c. Staff cost inflation

8. d. Staff changes

9. e. Confidence levels in any income stream

10. f. Any loan repayments due

11. g. Any interest payable and likely interest rate changes

12. h. Do your cashflow forecasts reconcile back to your budgets?

Information to complete

Appendix A

Post balance sheet events

Before sign off we will need to review any material, relevant post balance sheet events that might affect the financial statements. To identify potential events, we will need details of the following or confirmation that they don’t exist:

• ➢ Legal or employment claims arising from events during the audit period, which may result in financial or reputational loss. Please elaborate on your assessment of how these might impact the organisation.

• ➢ Minutes of meetings held since the audit fieldwork including those for the meeting at which the financial statements, post balance sheet events and going concern were discussed. Please also provide updates on relevant matters discussed at meetings for which minutes are not yet available.

• ➢ Any relevant updates on material matters discussed during the audit fieldwork or closedown which involved subjective judgement or were based on preliminary data.

• ➢ New commitments, borrowings or guarantees entered into.

• ➢ Significant sales or planned sales of assets.

• ➢ Material assets that have been damaged or destroyed.

• ➢ Plans to merge, sell or liquidate.

• ➢ Developments regarding risk areas and contingencies.

• ➢ Information which updates or gives rise to a year end estimate, such as a provision or legacy debtor.

• ➢ Details of any new legacies, notifications or other correspondence received since the audit field work was carried out, relating to donors who died during the reporting year or earlier. Please also include details of any amounts realised from the post year end sale of assets received under a legacy.

• ➢ Whether any unusual accounting adjustments have been made or are contemplated.

• ➢ Whether any events have occurred or are likely to occur which might bring into question the appropriateness of the accounting policies.

• ➢ Any other significant events we should be aware of. Examples of this may include the resignation of a key member of staff and your plans to mitigate any impact from this, an inspection after the balance sheet date by a regulatory authority including its outcome, discussions with your bank about refinancing and any action you plan to take in the light of this.

Information to complete

Appendix B

Xeinadin Audit Limited 5 Robin Hood Lane Sutton Surrey SM1 2SW

Date:

Dear Sirs

This representation letter is provided in connection with your audit of the financial statements of Seaton House School for the year ended 31 August 2025 for the purpose of expressing an opinion as to whether the financial statements give a true and fair view of the results and financial position of Seaton House School in accordance with The Companies Act 2006, The Charities Act 2011 and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Financial statements

1. We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement for preparing financial statements in accordance with The Companies Act 2006, The Charities Act 2011 and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which JCS Accountants Limited have drafted on our behalf, which give a true and fair view of the financial position of Seaton House School as of 31 August 2025 and of the results of its operations and its cash flows for the year then ended and for making accurate representations to you.

2. We confirm that the methods, significant assumptions and data used by us in making accounting estimates, and the related disclosures, are appropriate to achieve recognition, measurement or disclosure that is in accordance with the applicable financial reporting framework.

3. We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.

4. We have disclosed all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements and these have been disclosed in accordance with the requirements of accounting standards.

5. Related party relationships and transactions have been appropriately accounted for and disclosed in accordance with the requirements of accounting standards.

6. All events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements have been adjusted or disclosed in the financial statements.

7. We confirm the financial statements are free of material misstatements, including omissions. We believe that those uncorrected misstatements identified during the audit and listed in your audit findings report are immaterial both individually and in aggregate to the financial statements as a whole.

8. We confirm that, having considered our expectations and intentions for the next twelve months, and the availability of working capital, the charity is a going concern and no further disclosures in the accounting policies are required to justify why the financial statements should be drawn up on a going concern basis.

Appendix B

1. We confirm that the trustees’ remuneration are correctly stated in the financial statements. This includes all remuneration and benefits accruing during the year.

2. We confirm that the charity had not contracted for any capital expenditure as at 31 August 2025.

Information provided

1. All accounting records and relevant information have been made available to you for the purpose of your audit. We have provided to you all other information requested and given unrestricted access to persons within the entity from whom you have deemed it necessary to obtain audit evidence. All other records and related information including minutes of all management and governors’ meetings have been made available to you.

2. All transactions undertaken by the charity have been properly reflected in the accounting records and are reflected in the financial statements.

3. We acknowledge our responsibility for the design, implementation and maintenance of controls to prevent and detect fraud, and that we believe we have appropriately fulfilled these responsibilities. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.

4. We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves management, employees who have significant roles in internal control, or others, where fraud could have a material effect on the financial statements.

5. We have disclosed to you all information in relation to allegations of fraud, or suspected fraud affecting the entity’s financial statements communicated by employees, former employees, analysts, regulators or others.

6. We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which could affect the financial statements. The charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance.

7. We confirm that we have disclosed to you the identity of the entity’s related parties and all related party relationships and transactions relevant to the charity that we are aware of.

8. The charity has satisfactory title to all assets, and there are no liens or encumbrances on the assets except for those disclosed in the financial statements.

9. There are no liabilities, contingent liabilities or guarantees to third parties other than those disclosed in the financial statements.

10. We approve the schedule of adjusting journals made, as included in your audit findings report.

11. All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions during the period in the application of such income.

We confirm to the best of our knowledge and belief that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy ourselves that we can properly make each of the above representations to you.

We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that so far as we are aware, there is no relevant audit information needed by you in connection with preparing your audit report of which you are unaware. Each trustee

Appendix B

has taken all the steps that he/she ought to have taken as a trustee in order to make himself/herself aware of any relevant audit information and to establish that you are aware of that information.

Yours faithfully

Signature: ____ Signature: ___ Name: ____ Name: ___ Signed on behalf of the Board of Trustees Seaton House School

Company Registration No: 2151420 (England and Wales) Charity Registration No: 800673 (England and Wales)

SEATON HOUSE SCHOOL LIMITED

(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

31[ST] AUGUST 2025

SEATON HOUSE SCHOOL LIMITED

(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

31[ST] AUGUST 2025

Contents	Page
Governors’ Report	1 – 8
Independent auditor’s report to the members	9 – 11
Statement of Financial Activities	12
Balance Sheet	13
Statement of Cash Flows	14
Notes to the financial statements	15 – 24

SEATON HOUSE SCHOOL LIMITED

GOVERNORS’ REPORT

FOR THE YEAR ENDED 31[ST] AUGUST 2025

The Board of Governors present their annual report for the year ended 31[st] August 2025, together with the audited financial statements for the year. The annual report serves the purposes of both a Trustees’ Report and a Directors’ Report under company law. These have been prepared in accordance with the Companies Act 2006, the Charities Statement of Recommended Practice (Charities SORP (FRS 102)), Financial Reporting Standard 102 (FRS 102) and the Charities Act 2011.

REFERENCE AND ADMINISTRATIVE INFORMATION

Seaton House School Limited was founded in 1930 and became a limited company and charity in 1987. Charity number 800673. The School’s principal address and registered office is 67 Banstead Road South, Sutton, Surrey, SM2 5LH.

Governors and Company Directors

The Governors of the School, who are also Charity Trustees, and company directors who served in office as Governors during the year and subsequently are:

Mrs J Evans (Chair) Ms B Grant (Deputy Chair) Mr P Patel Mr M Russell Mr M A Alidina Mr O Saeed Mr J Hoar Ms N Rankin Mr K Grimwood

Key Leadership Personnel

The Governors The Headteacher: Mr C Bates BA Ed (Hons) MA The Bursar: Mr T Roads ACIB (until December 2024) The Bursar: Mr H Lungany (from December 2024) Deputy Head: Mrs S McGreevy BA (Hon QTS) Senior Teacher: Mrs M Smith BSc (Hons), PGCE

Professional Advisors

Bankers: Barclays Bank plc, 6, Clarence Street, Kingston Upon Thames, KT1 1NY Solicitors: Carpenter & Co, 46 Woodcote Road, Wallington, Surrey, SM6 0MW Auditor: Xeinadin Audit Limited, 5 Robin Hood Lane, Sutton, Surrey, SM1 2SW

1

SEATON HOUSE SCHOOL LIMITED

GOVERNORS’ REPORT (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Company is governed by its Memorandum and Articles of Association.

Governing Body

The Board of Governors currently has nine Governors (a maximum of 12 is permitted under the M&A). The Governors are reconfirmed at the AGM every year; there were two board appointments in 2022-2023 financial year, Mr J Hoar and Ms N Rankin to increase the educational skills of the board. The Board of Governors appoints new Governors in light of specific criteria and the needs created by retirements. Governor appointments are based on the need for the Board as a whole to have the skills and experience to determine the policies of the School and to monitor the implementation of those policies.

Governor training

New Governors are inducted into the workings of the School, and also of the Company as a registered Charity, including Board Policy and Procedures. They receive guidance notes from the Bursar, together with introductory information from AGBIS. The Governors each have their own areas of individual professional expertise and the Chair of Governors and the Clerk to the Governing Body identify and offer suitable training opportunities and courses, either offered via organisations such as AGBIS or online from the school’s National College Training licence. A record of Governor training is maintained. Regular updates from AGBIS, ISBA and other relevant bodies are circulated to the Governors.

Organisational Management

The Governors operate a Sub-Committee Structure to ensure they have a good working knowledge of the school’s day to day operations, determine the general policies and to review its overall management and control, for which they are legally responsible. The Sub-Committees now comprise:

Safeguarding Education Compliance Finance & General Purpose Estates & Development Equality Diversity & Inclusion (EDI)

The EDI committee has been established to formalise the schools current focus in this area and enhance current working practices and procedures. Each Sub-Committee meets in the first half of each term and then reports through to the full Governor meetings held in the second half of each term. Additionally, the Annual General Meeting is held to review and discuss procedural compliance matters and further Strategy or Ad-hoc meetings are organised, as required. The minutes of these meetings are produced and circulated by the Bursar & Clerk to the Governors. Furthermore, the Chair of Governors meets with the Headteacher and the Bursar on a regular basis and can be called upon at any time by them, should the need arise. The day-to-day running of the School is delegated to the Headteacher and the Bursar who are supported by the remainder of the Leadership team.

The Headteacher oversees the recruitment of all educational staff, whilst the Bursar oversees the recruitment of administrative and non-teaching support staff.

2

SEATON HOUSE SCHOOL LIMITED

GOVERNORS’ REPORT (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

Key management personnel

The Governors consider that they, together with the Senior Leadership Team (Headteacher, Bursar, DeputyHead & Senior Teacher) comprise the Key Management Personnel as detailed on Page 1. There was one change in the senior leadership team during 2024-25, the previous bursar (T Roads) left in December 2024, and H Lungany was appointed as the new Bursar in the same month.

The Governors give their time freely, no Governor received remuneration in 2025 (2024: Nil). Details of Governors’ expenses are detailed in Note 5 to the Accounts.

The pay and remuneration of the Headteacher and senior staff is set by the Governors and is subject to annual review. A number of criteria are used in setting pay both for senior management and for general staff.

• nature of the role and responsibilities

• salaries in the region

• the sector average salary for comparable positions

• economic factors such as Inflation rates

The Governors remain aware that delivery of the school’s vision as a Charitable body is largely dependent on the quality of the staff, and the salary costs are the largest single element of the school’s expenditure. The School aims to recruit the best-qualified and experienced staff and provide scope to reward them for excellence.

Relationships

The School is a member of the ISA (Independent Schools Association) which the school feels provides greater support to the smaller schools such as Seaton House. The Headteacher attends HMC & ISA events and the Bursar is an active member of ISBA. The school also is a member of AGBIS which provides training and guidance to the Governing Body.

We have made links with other schools and local organisations, although we are a small school, with limited facilities, we welcome other independent and state schools to take part in sports fixtures and competitions. We also take part in community events, for example, wreath laying at the local Remembrance Service. We have hosted tea parties for elderly vulnerable residents, where the girls entertain the guests with singing and musical performances. We endeavour to increase the awareness of our pupils of the wider social context of the education that they receive at the school. We have charity prefects in Form VI who help to organise and promote charity events across the year. We select a local charity to support, in 2024-2025 we supported Tadworth Court and raised money through cake sales, an Elf Zumbathon, and other sponsored events. We also raise money for other charities to raise funds for them and awareness of their aims.

On the academic and career front we have links with Roehampton University to offer placement opportunities for student teachers, we continued to support an administrative apprentice through Inspire ATA. We have also supported a member of staff to complete her level 3 in childcare.

The School benefits from the generosity of its Parents’ Association, whose close support we greatly appreciate and acknowledge.

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SEATON HOUSE SCHOOL LIMITED

GOVERNORS’ REPORT (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

Principal risks and uncertainties

The Board with assistance from the Head and the Bursar reviews the School’s current and future activities in the light of any major risks arising from time to time and the effectiveness of systems and procedures designed to manage them.

The School continues to navigate a challenging financial environment. While inflationary pressures have eased compared to previous years, costs remain elevated, particularly for staffing and energy, with energy inflation still running at over 6% in 2024–25. In addition, the most significant development for the independent education sector has been the implementation of government policy to apply VAT at 20% on school fees from January 2025 and the removal of charitable business rates relief from April 2025. These measures represent a major shift in the sector’s financial landscape and are expected to increase operating costs and place pressure on affordability for parents. Although national inflation has moderated to around 2.1%, the combined effect of these tax changes and persistent cost-of-living pressures means that financial planning and efficiency remain critical priorities for the School.

We are therefore aware that there is an increased risk of parents removing their children from the school if the fees become unaffordable, but we have always striven to keep our fees at the lower end of the independent school scale. We hope this, together with our continued high successes academically, will combat the threat. The Governors are mindful of this situation and are doing all they can to minimise impacts and keep parents informed on likely increases.

Despite these challenges, pupil numbers have remained buoyant, particularly in the Nursery, which serves as a key entry point to the main School. Nevertheless, the School continues to monitor enrolment closely and does not assume that past success guarantees future stability. Some parents have raised concerns about fee increases, including the negative financial impact of the introduction of 20% VAT on school fees. Despite this, we have been fortunate to lose only a handful of pupils to the state sector.

The School is also mindful of competitive pressures from local state schools expanding and rival independent schools investing heavily in technology and sports facilities. In response, the School has its own development plan and has begun implementing improvements. Following the opening of a new Teaching Block at the start of 2023–24, which provided state-of-the-art classrooms and a studio for group activities, attention has now turned to plans for replacing the School’s largest building. Progress on this project will depend on demonstrating resilience against the financial challenges posed by VAT, business rates, and increased Employer NI contributions.

A continuing threat has been the school’s contribution levels to the Teachers Pensions fund. The Government introduced an increase in Employer contributions of more than 40% in September 2019 and a further increase of 30% was applied in April 2024 with the next rise due in 2027. These steep rises challenge the majority of the independent sector who are still members of the Pension scheme. Such increases cannot be easily absorbed; indeed, a growing number of schools have already withdrawn from the scheme and others are consulting with staff on the matter. Seaton House School has now closed the scheme for new teachers but continues to support existing teachers. Governors will continue to review if this arrangement is sustainable in the light of the other financial risks already highlighted.

Period	Pre 2019	2019-2024	2024-2027
Teachers’ Pension employers’ contribution rate	16.48%	23.68%	28.68%

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SEATON HOUSE SCHOOL LIMITED

GOVERNORS’ REPORT (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

OBJECTS, PUBLIC BENEFIT AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES

The Objective of the Charity, in accordance with its Memorandum and Articles of Association, is to provide for the advancement of education and carry on and develop a school for the education of children.

In addition to the principal activities, the charity looks for ways to help its local community, whether by occasional rental of premises, partnering with local state schools, raising funds for local causes or participating in community events or aid initiatives as detailed above.

The Governors continue to look for ways to offer bursaries and scholarships at the school, and means-tested opportunities were advertised from time to time during 2024–25. A fund exists to support pupils when the opportunity arises, whether by bursary assistance for new pupils or hardship cases for existing pupils.

During the year, two parents enquired about the bursary policy and process. They were provided with the relevant forms and policy documents; however, neither parent submitted a completed bursary application.

In furthering this Objective, the Governors, as charity trustees, have complied with the duty s17(5) of the Charities Act 2011 to have due regard to the Charity Commission’s published guidance concerning the operation of the Public Benefit requirement under that act.

Strategic Aim and Intended Effect

The school’s strategic aim to reach its annual objective for the public benefit as a charitable Independent School is the attainment of the highest academic levels consistent with our admissions policy.

We intend to draw out our pupils’ abilities and academic potential and develop their wider interests in life for participation in society and to motivate them for a successful outcome at their chosen senior school.

Objectives for the year

The Board’s main objectives in pursuit of the charity’s public benefit aims were (a) to educate all pupils to at least the same high standard as previously achieved (b) to develop bursary funding so that our high levels of education can be extended those from lower income families.

Our strategy for achieving this is to recruit and retain a high quality teaching and support staff and invest in their continued education and development. Secondly, to improve our facilities to provide pupils with the tools of success. Thirdly, to build up our own bursary funds and a bursary policy to enable us to extend assistance to pupils from lower income homes.

Principal activity and income sources

Seaton House’s principal activity continues to be to develop and educate girls between the ages of 3 and 11, preparing them for secondary education.

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SEATON HOUSE SCHOOL LIMITED

GOVERNORS’ REPORT (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR

Operational performance of the school

Once again, the school has successfully supported pupils to achieve both academically and personally. This is demonstrated in our preparation of the girls for 11+ entry, SATs preparation and results, pupil progress across the school and preparation of girls for scholarships. In the class of 2024/25, 8 out of 19 were offered a place at Grammar School and 6 pupils took up the offer of a Grammar place. 10 girls were offered scholarships at independent schools (7 academic, 1 music and 2 drama).

The school continued to achieve high honours when it was ranked number 2 in the Times Parent Power Top 100 Prep Schools in Autumn 2022 (1[st] in 2018, 5[th] in 2019, 4[th] in 2020, 2[nd] in 2021) based on the SATS results. Whilst the results were not published in 2023 and 2004 the school would have maintained its high position. Our academic results continue to keep a healthy number of enquiries and registrations each year.

In addition to the academic successes, Music continues to be a major focal area with many talented musicians being produced each year thanks to the dedication of passionate music staff and a number of peripatetic music tutors operating at the school. Pupils from Reception to Form VI have a weekly drama lesson and many pupils also have a 1:1 session. 40 pupils (Form I to VI) sat the Trinity Drama exams, and all were awarded distinctions, with all pupils achieving over 85%.

There are a wide range of extra-curricular activities undertaken across the school, from Ballet, Gymnastics, book club, finger knitting and Football clubs to Theatre, Chess, Lego club and ECO club to name some. The school constantly reviews and looks for new experiences to offer and has recently added Drama and Forest School sessions to the curriculum. A Spanish club has also been added to extra-curricular provision.

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

This year’s operating results produced a surplus of £130,510 , which was close to the budgeted figure of £110,651, despite absorbing several significant cost pressures. These included the increase in employers’ NIC contributions, the loss of rates relief from April 2025, the implementation of a new catering service (with additional expenditure on equipment), and an upgrade to IT hardware.

It remains important that the School continues to generate a reasonable level of surplus each year in order to finance the negate ongoing cost pressures and the capital expenditure required to upgrade the existing premises and IT infrastructure, and ensure the school maintains sufficient reserves should pupil numbers fall due to VAT pressure on fees. The principal source of funds during the year continued to be school fees. As facilities improve, opportunities to share them with the wider community and generate rental income will increase.

The School also benefited from donations from the Parents’ Association, which funded specific purchases to enhance pupils’ experiences. In 2024–25, a total of £11,880 was received from the Parents’ Association, which was primarily used to install a brand-new trim trail.

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SEATON HOUSE SCHOOL LIMITED

GOVERNORS’ REPORT (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

Reserves policy

The Governors’ policy is to maintain a sufficient level of reserves to ensure that the school’s continuing activities can be maintained. At 31 August 2025 the school’s free reserves, defined as unrestricted funds (excluding designated funds) not invested in fixed assets, stood at £593,226 (2024: £288,919). The school holds £1,409,295 (2024: £1,508,144) in Cash and Short term investments. This figure has decreased slightly mainly due to the school’s Fees In Advance Scheme implemented in 2024, but even discounting this the current balance of £421,713 fulfils the Governors’ aim to maintain freely available funds to cover approximately one term’s expenditure of £732,069 (2024: £667,064). The school is currently working hard to replenish cash reserves to enable the next phase of development to be started. We therefore believe that the school is in a good position to sustain itself in the current economic climate. At 31 August 2025 the school’s total reserves amounted to £2,767,646 (2024: £2,637,136) of which £125,350 (2024: £115,350) has been designated to providing future bursaries, as and when the opportunity arises to help appropriate pupils. The Governors believe that the reserves are sufficient to meet the charity’s obligations and these are reviewed on a regular basis.

Going concern

The Governors have reviewed the circumstances of Seaton House School and consider that adequate resources continue to be available to fund activities for the foreseeable future. The Governors are of the view that the charity is a going concern.

Fundraising

In line with the new reporting requirements included in the Charities Act 2016 the Governors are pleased to confirm that all fundraising is done in compliance with best fundraising practice. All fundraising activities follow traditional methods such as cake sales, “mufti days” and a Christmas Carol Concert. During 2024 we did not employ any professional fundraisers. There were no complaints or criticisms during the year about our fundraising activities.

FUTURE PLANS

The school wishes to continue to improve its facilities for the benefit of the girls’ education. Whilst expansion of the overall pupil numbers is not the aim of the school, improvements are nevertheless essential to provide additional flexible space to support the wide range of educational subjects and extra-curricular activities. The Senior House building is not suited to the post pandemic world where greater space and ventilation requirements are needed to provide healthy educational environments. The school is therefore focussed on providing modern ecologically sound buildings; the new Junior House block opened in 2023 has solar power and an air source heat pump to drive the underfloor heating in an efficient and eco-friendly way. All future plans will seek to continue to reduce the school’s carbon footprint and further improve disability access; it is vital that the school improves facilities to support the continued success of Seaton House for many years to come.

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SEATON HOUSE SCHOOL LIMITED

GOVERNORS’ REPORT (continued)

FOR THE YEAR ENDED 31[ST] AUGUST 2025

STATEMENT OF GOVERNORS’ RESPONSIBILITIES

The Governors (who are also directors of Seaton House School Limited for the purposes of company law) are responsible for preparing the Governors’ 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 Governors 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 Governors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Governors are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2015 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and ensuring their proper application under charity law and hence for taking reasonable steps for the prevention and detection of fraud and irregularities.

AUDITORS

In so far as the governors are aware:

• there is no relevant audit information of which the charitable company’s auditor is unaware; and

• • the Governors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Xeinadin Audit Limited have expressed their willingness to continue as auditors of the company.

The report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Approved by the Board of Governors at its meeting on 26[th] February 2026 and signed on its behalf by:

Judith Evans Chair of Governors

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SEATON HOUSE SCHOOL LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31[ST] AUGUST 2025

Opinion

We have audited the financial statements of Seaton House School Limited (the ‘charity’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The governors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

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SEATON HOUSE SCHOOL LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31[ST] AUGUST 2025

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the Governors' Report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the Governors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included with the governors’ report.

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

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of governors’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the governors were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the governors’ report and from the requirement to prepare a strategic report.

Responsibilities of governors

As explained more fully in the governors’ responsibilities statement set out on page 9, the governors (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 governors are responsible for assessing the charity’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 governors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to employment legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011.

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SEATON HOUSE SCHOOL LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team. We determined that the principal risks were related to the categorisation of capital versus revenue expenditure, management override of controls and presentation of separately disclosed items.

In response to the risks identified we designed procedures which included but were not limited to: reviewing the fixed asset register, fixed asset additions and non-capital expenditure, reviewing the recoverability of debts, identifying and testing journal entries, reviewing minutes of governors’ meetings, evaluating the charity’s internal controls and agreeing financial statement disclosures to underlying supporting documentation.

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 and regulations made under that Act. 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 its members as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Haffenden FCA (Senior Statutory Auditor) for and on behalf of Xeinadin Audit Limited Statutory Auditor Chartered Accountants

5 Robin Hood Lane Sutton Surrey SM1 2SW

27[th] February 2026

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SEATON HOUSE SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account) FOR THE YEAR ENDED 31[ST] AUGUST 2025

Notes INCOME FROM Charitable activities School fees receivable 2 Registration fees After school activities and trips Donations and legacies 3 Other trading activities: Rents and lettings Investment income Holiday club income School meals Other income Total Income EXPENDITURE ON Charitable activities: School operating costs Total expenditure 7 NET INCOME FOR THE YEAR AND NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Funds brought forward at 1stSeptember 2024 Funds carried forward at 31st August 2025	Unrestricted funds 2025 £ 2,102,534 4,000 102,189 16,202 8,747 35,212 11,758 36,557 9,517 2,326,716 2,196,206 2,196,206 130,510 2,637,136 2,767,646		Unrestricted funds 2024 £ 1,967,703 4,345 97,587 1,448 3,250 22,364 15,758 39,670 16,369 2,168,494
			2,001,192 2,001,192 167,302 2,469,834 2,637,136

The notes on pages 16 to 24 form part of these accounts.

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SEATON HOUSE SCHOOL LIMITED

BALANCE SHEET

AS AT 31[ST] AUGUST 2025

Company number 2151420

Notes FIXED ASSETS Tangible assets School land, buildings and equipment 9 CURRENT ASSETS Debtors 10 Investment: cash on short-term deposit Cash CREDITORS:Due within one year 11 Net Current Assets Total Assets less Current Liabilities CREDITORS:Due after more than one year 12 NET ASSETS UNRESTRICTED FUNDS: 15 Designated: Scholarship fund General fund TOTAL FUNDS		2025 £ 2,049,070 760,303 1,058,740 350,555 2,169,598 (1,134,322) 1,035,276 3,084,346 ( 316,700) 2,767,646 125,350 2,642,296 2,767,646		2024 £ 2,232,867
				90,608 1,409,212 98,932
				1,598,752 (627,269) 971,483 3,204,350 ( 567,214) 2,637,136 115,350 2,521,786 2,637,136

The financial statements were prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006

Approved by the board on 26[th] February 2026 and signed on its behalf by

J Evans P Patel Chair Finance Governor

The notes on pages 15 to 24 form part of these accounts.

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SEATON HOUSE SCHOOL LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31[ST] AUGUST 2025

CASH PROVIDED BY OPERATING ACTIVITIES NET INCOME Add back depreciation charge Add back loss on disposal of fixed assets Deduct interest income in investing activities (Increase) in debtors (Decrease)/increase in creditors NET CASH (OUTFLOW)/INFLOW FROM OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES Interest income Net disposals/(additions) to investments Reclaim VAT on assets purchased in previous years Purchase of tangible fixed assets CASH USED IN INVESTING ACTIVITIES INCREASE/(DECREASE) IN CASH FOR THE YEAR Cash and cash equivalents at the beginning of the year CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	2025 £ 130,510 68,896 - ( 35,212) (669,695) 256,539 (248,962) ___ 35,212 350,472 172,962 (58,061) 500,585 251,623 98,932 350,555	2024 £ 167,302 66,226 1,201 ( 22,364) ( 15,083) 623,604 820,886 ___ 22,364 ( 857,021) (61,972) (896,629) (75,743) 174,675 98,932

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SEATON HOUSE SCHOOL LIMITED

NOTES TO THE ACCOUNTS (continued)

FOR THE YEAR ENDED 31[ST] AUGUST 2025

1. ACCOUNTING POLICIES

Charity information

Seaton House School Limited was founded in 1931 and became a limited company and charity in 1987, incorporated in England and Wales. Charity number 800673. The School’s principal address and registered office is 67 Banstead Road South, Sutton, Surrey, SM2 5LH.

a. Basis of Preparation

The financial statements have been prepared under the Companies Act 2006, Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting. The financial statements are prepared in sterling, rounded to the nearest pound.

Seaton House School charity meets the definition of a public benefit entity under FRS 102.

At the time of approving the financial statements, the Governors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Governors continue to adopt the going concern basis of accounting.

b. Fees

Fees consist of charges invoiced for the School Year ending 31[st] August, less discounts and allowances. Fees received in advance for education to be provided in future years are carried forward as deferred income. All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be reliably measured. Following VAT registration during the year, fees and other income are stated net of VAT.

c. Direct and Overhead Expenditure

Expenditure is summarised by reference to the objectives of activities undertaken either on a direct cost basis or, for overhead costs, by apportionment based on management estimates of staff time spent. Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities. The irrecoverable VAT is included with the item of expense to which it relates.

d. Teaching materials

Supplies of games equipment, books, stationery and sundry materials are written off to expenditure in the year which the goods are purchased for.

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SEATON HOUSE SCHOOL LIMITED

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

1. ACCOUNTING POLICIES (continued)

e. Pension schemes

The School contributes to the Teachers’ Pension 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 not possible to identify the assets and liabilities of the Scheme which are attributable to the Charity. In accordance with SORP(FRS 102) 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 personal pension schemes for non-teaching staff at 3% of annual basic pay and these contributions are accrued accordingly.

f. Support costs and governance costs

Expenditure is classified under the following activity headings:

Costs of raising funds – this comprises the cost of fundraising, commercial trading and associated support costs.

Expenditure on charitable activities – this includes the cost of activities undertaken to further the purpose of the charity and their associated support costs

Other expenditure – includes those items not falling under any other heading.

All expenses, including support and governance costs, are allocated or apportioned to the applicable heading in the SOFA.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include finance, administrative personnel, payroll and governance costs which support the school’s activities.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

g. Tangible Fixed Assets

Depreciation is provided on all tangible fixed assets retained for use by the Charity, other than on the freehold land, at rates calculated to spread each assets cost, less its estimated residual value at current market price, evenly over its expected useful economic life, which for each class of asset is initially assessed as averaging:

Freehold buildings 50 years Fixtures and fittings 10 years Computer equipment 3 years

Depreciation is not provided on freehold land as the estimated residual value is considered to be the same or higher than the carrying value of the land in the accounts.

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SEATON HOUSE SCHOOL LIMITED

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

1. ACCOUNTING POLICIES (continued)

h. Debtors

Other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

i. Current asset investments

Current asset investments are deposits with a maturity date of more than three months from the date of opening the deposit or with more than three months’ notice required.

j. Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening the deposit.

k. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

l. Financial instruments

The charity only has financial assets and liabilities 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.

2. SCHOOL FEES RECEIVABLE

Gross school fees Less: Total Scholarships, sibling and other discounts	2025 £ 2,156,782 (54,248) 2,102,534	2024 £ 2,014,060 (46,357)
		1,967,703

3. DONATIONS AND LEGACIES

	2025	2025	2024
	£		£
Sundry donations		16,202		1,448

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SEATON HOUSE SCHOOL LIMITED

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

4. TRANSACTIONS WITH RELATED PARTIES

The Governors received no remuneration or other benefits during the year.

The following Governors and Key Management Personnel were parents of pupils attending the school during the year: Mr M Alidina, Mr O Saeed and Mr K Grimwood for whom fees were payable to the school. In addition, Mr Bates partner’s daughter attended the school, her fees were fully discounted, but Mr Bates contributed £100 per term for additional cost occurred.

Members of the close family of Governors and Key Management Personnel received remuneration of £46,390 (2024: £41,338) and employers pension contributions of £12,016 (2024: £9,188).

There were no other related party transactions in the year.

5. GOVERNORS’ EXPENSES

Governors incurred other various sundry costs of £nil (2024: £nil). No reimbursements were made to any Governors. Other than incidental costs of travel to Governors meetings no expenses were waived by Governors (2024: £nil). £823 was paid to third parties on behalf of Governors (2024: £1,051).

6. STAFF COSTS

Wages and salaries Social security costs Pension contributions The average number of employees in the year: Teaching Administration The following number of employees received: £60,000-£70,000 emoluments £70,000-£80,000 emoluments £90,000-£100,000 emoluments £110,000-£120,000 emoluments	2025 £ 1,265,820 124,817 196,376 1,587,013 No. 28 8 1 1 - 1	2024 £ 1,210,613 113,120 171,259
		1,494,992
		No. 29 8
		1 1 1 -

The retirement benefits for the above employees are accruing under a defined benefits scheme for which employer contributions in the year amounted to £56,408 (2024: £42,689).

The aggregate employee-benefits of key management personnel were £436,764 (2024: £375,022).

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SEATON HOUSE SCHOOL LIMITED

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

7 (a) EXPENDITURE Staff costs Other Depreciation and loss on disposal £ £ £ Charitable Expenditure School operating costs: Teaching costs 1,587,013 87,754 - Premises - 175,091 68,896 Support costs (b) - 271,392 - Governance costs - _ 6,060 _ - _ 1,587,013 540,297 68,896 7 (b) EXPENDITURE - Other disclosures Support costs include: Outings Advertising and printing Insurance Office expenses Catering Other expenses Other legal and professional costs Auditor’s remuneration: for other services Governance costs include: Auditor’s remuneration: for audit		2025 £ 1,674,767 243,987 271,392 6,060 _ 2,196,206 2025 £ 88,399 65,953 22,556 4,872 24,328 44,711 11,273 9,300 _ 271,392 6,060	2024 £ 1,566,916 203,807 224,709 5,760 __ 2,001,192	2024 £ 1,566,916 203,807 224,709 5,760 __ 2,001,192
			2024 £ 80,253 52,001 21,060 4,689 29,643 19,143 11,000 6,920 __ 224,709
				5,760

In addition to the audit fee of £6,060, the auditor’s charged £6,250 for accountancy services and £3,050 for payroll services during the year.

8. TAXATION

The company is an Educational Trust and as such is a recognised charity registered in England and Wales, number 800673. It is therefore not subject to corporation tax on its charitable activities for the year.

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SEATON HOUSE SCHOOL LIMITED

NOTES TO THE ACCOUNTS (continued)

FOR THE YEAR ENDED 31[ST] AUGUST 2025

9. TANGIBLE FIXED ASSETS

Cost 1stSeptember 2024 Additions Disposals Other movements Transfers 31stAugust 2025 Depreciation 1stSeptember 2024 Charge for the year Released on disposal 31stAugust 2025 Net book value 31stAugust 2025 31stAugust 2024	Freehold land £ 275,000 - - - - 275,000 - - - - 275,000 275,000	Freehold buildings £ 2,107,244 9,477 - (172,962) - 1,943,759 256,131 38,875 - 295,006 1,648,753 1,851,113	Fixtures and fittings £ 213,028 33,612 - - - 246,640 120,083 14,955 - 135,038 111,602 92,945	Computer equipment £ 111,172 14,972 - - - 126,144 97,363 15,066 - 112,429 13,715 13,809	Total £ 2,706,444 58,061 - (172,962) -
					2,591,543
					473,577 68,896 -
					542,473
					2,049,070
					2,232,867

All fixed assets are used for charitable purposes.

The freehold property above is used as security for the overdraft facility. The overdraft facility has not been used for a number of years.

10. DEBTORS Due within one year: Fees Bad debt provision Other Prepayments VAT Capital Goods Scheme	2025 £ 468,875 (14,482) - 128,547 177,363 760,303	2024 £ 25,922 (17,902) 1,293 81,295 -
		90,608

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SEATON HOUSE SCHOOL LIMITED

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

11. CREDITORS: amounts falling due within one year

Trade creditors Other taxation and social security costs Accruals and deferred income Fee deposits (see note 13) Other creditors VAT due to HMRC	2025 £ 97,149 37,981 856,099 17,000 25,648 100,445 1,134,322

12. CREDITORS: amounts falling due after more than one year

Fees in advance Fee deposits (see note 13)	2025 £ 167,700 149,000 316,700	2024 £ 421,714 145,500 567,214

13. DEFERRED INCOME – FEE DEPOSITS

Balance at 1stSeptember Amount received during the year Amount returned during the year Amount released to the Statement of Financial Activities Balance at 31stAugust Due within one year Due between two and five years Due after more than five years	2025 £ 163,500 12,000 - (9,500) 166,000 17,000 81,000 68,000 166,000		2024 £ 158,500 14,000 - (9,000)
			163,500
			18,000 74,000 71,500
			163,500

14. PENSION SCHEMES

Teachers' Pension Scheme

The School participates in the Teachers’ Pension Scheme (England and Wales) (“the TPS”), for its teaching staff. This is a multi-employer defined benefits pension scheme and it is not possible or appropriate to consistently identify the liabilities of the TPS which are attributable to the School. The School accounts for this scheme as if it were a defined contribution scheme.

The pension charge for the year includes contributions payable to the TPS of £158,224 (2024: £154,104) and at the year-end £19,398 (2024: £20,287) was accrued in respect of contributions to this scheme.

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SEATON HOUSE SCHOOL LIMITED

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

14. PENSION SCHEMES (continued)

Teachers' Pension Scheme (continued)

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

The teachers' pension budgeting and valuation account

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

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

Valuation of the teachers' pension scheme

The latest valuation of the Teachers’ Pension Scheme took place in line with directions issued by HM Treasury and using membership data as at April 2020. As a result of this valuation TPS employers paid an increased contribution rate of 28.68% from April 2024 (this includes the administration levy of 0.8%). Until that time, employers had paid a rate of 23.68%.

Scheme changes

The arrangements for a reformed Teachers’ Pension Scheme, in line with the recommendations made by Lord Hutton, in particular the introduction of a Career Average Revalued Earnings (CARE) scheme, were implemented from 1 April 2015.

In December 2018, the Court of Appeal held that transitional protection provisions contained in the reformed judicial and firefighter pension schemes, introduced as part of public service pension reforms in 2015, gave rise to direct age discrimination and were therefore unlawful. The Supreme Court, in a decision made in June 2019, rejected the Government’s application for permission to appeal the Court of Appeal’s ruling. The case has now been referred to an Employment Tribunal for a decision regarding the remedy that will need to be offered to those members of the two schemes who were the subject of the age discrimination. HM Treasury are clear that the ruling has implications for the other public service schemes, including the Teachers’ Pension Scheme.

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NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31[ST] AUGUST 2025

SEATON HOUSE SCHOOL LIMITED

14. PENSION SCHEMES (continued)

Other schemes

The company also made contributions to other defined contribution pension schemes totalling £38,152 (2024: £17,154) and at the year-end £5,090 (2024: £2,788) was accrued in respect of contributions to this scheme.

15. FUNDS

General fund School Bursary fund General fund School Bursary fund	Balance at 01.09.2024 £ 2,521,786 115,350 2,637,136 Balance at 01.09.2023 £ 2,366,484 103,350 2,469,834	Income £ 2,316,716 10,000 2,326,716 Income £ 2,156,494 12,000 2,168,494	Expenditure £ (2,196,206) - (2,196,206) Expenditure £ (2,001,192) - (2,001,192)	Balance at 31.08.2025 £ 2,642,296 125,350
				2,767,646
				Balance at 31.08.2024 £ 2,521,786 115,350
				2,637,136

The designated “School Bursary Fund” represents unrestricted funds retained to finance a Bursary Scheme.

16. OPERATING LEASE COMMITMENTS

At 31 August 2025 the total of the Charity’s future minimum lease payments under non-cancellable operating leases was:

Amounts payable: Within 1 year Between 2 and 5 years Lease payments recognised as expense	2025 £ 1,249 2,871 4,120 1,249	2024 £ 1,249 4,120 5,369 937

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SEATON HOUSE SCHOOL LIMITED

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31[ST] AUGUST 2025

Fees receivable Other income Rent Registration fees Donations Bank interest receivable School meals Miscellaneous Expenses Teaching costs Salaries and pension costs Teaching aids, supplies and training Swimming and sports transportation Telephone ISA Hire of equipment Premises Repairs and renewals Cleaning Utilities Ground maintenance Building project - professional fees Loss on disposal of fixed assets Depreciation Administration of the school Advertising, printing & subscriptions Insurance Legal and professional Audit fee Postage and stationery Other expenses School meals Bank charges Bad debts Net income for the year	2025 £ 1,587,013 69,005 10,220 1,945 6,689 (105) 1,674,767 59,785 35,082 68,735 4,463 7,026 - 68,896 243,987 65,953 22,556 20,573 6,060 4,872 136,363 24,328 168 (3,421) 277,452	£ 2,102,534 6,347 4,000 16,202 35,212 36,557 125,864 2,326,716 2,196,206 __ 130,510	2024 £ 1,494,992 56,329 8,168 2,303 5,086 38 1,566,916 58,219 38,088 37,069 1,004 2,000 1,201 66,226 203,807 52,001 21,060 17,920 5,760 4,689 98,802 29,643 318 276 230,469	£ 1,967,703 1,300 4,345 1,448 22,364 39,670 131,664
				2,168,494
				2,001,192 __ 167,302

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