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← Cumnor House School Trust

2024-08-31-accounts

Charity Registration No. 801924

Company Registration No. 2411055 (England and Wales)

CUMNOR HOUSE SCHOOL TRUST (LIMITED BY GUARANTEE)

Governors’ Report and Accounts For The Year Ended 31 August 2024

CUMNOR HOUSE SCHOOL TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Governors J L Tanner(Chair)
J V McCaldin (Deputy Chair)
R P Boardman
C V Brand
N J Collins
A J Emery
J Hempsted-Kingham
S J McConnell
S Miller
J F A Reynolds
G E Siebert
Headmaster F J Llewellyn
Bursar L A Stark
Charity number 801924
Company number 2411055
Principal address and registered office Danehill
Haywards Heath
East Sussex
RH17 7HT
Auditors TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Bankers Lloyds TSB Bank PLC
90-101 South Road
Haywards Heath
West Sussex
RH19 4ND
Solicitors Cripps LLP
22 Mount Ephraim
Tunbridge Wells
Kent
TN8 8AS

CUMNOR HOUSE SCHOOL TRUST

CONTENTS

Page
Governors' report (incorporating the Strategic Report) 1
Statement of Governors' responsibilities 12
Independent auditors' report 13
Statement of financial activities 16
Balance sheet 17
Cash flow statement 18
Notes to the accounts 19

CUMNOR HOUSE SCHOOL TRUST

GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The Governors of Cumnor House School present their annual report and audited accounts for the year ended 31 August 2024. The Governors confirm that the annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity’s governing document and the provisions of The Charities SORP (FRS 102) and contains a director’s report, including the requirement of a strategic report, as required by company law.

OUR AIMS

The School operates under a Declaration of Trust dated 3 August 1989 and a scheme that was sealed by the Charity Commissioners for England and Wales on 17 August 1989 that included the regulations for appointment of trustees.

The policy adopted in furtherance of the Charity's objective is to operate a School for Preparatory, PrePreparatory & Nursery boys and girls aged 2-13 years. There is provision for up to 66 boarders. The School welcomes pupils from all backgrounds and an individual’s economic status, gender, ethnicity, race, religion or disability do not form any part of the admission process. The School motto is 'Aim High, Be Kind, Dare to be Different’. The intention is to attain high academic standards while allowing pupils to build self-confidence and gain from the extensive extra-curricular activities. This policy is designed to enable the children to experience a broad education and develop the necessary skills to prepare them for the senior school of their choice. There have been no changes to this policy during the reporting period.

OUR OBJECTIVES

The Charity's principal objective is the advancement of education and to conduct, carry on, acquire and develop in the United Kingdom and Europe any boarding or day school or schools for the education of children of either sex or both sexes. In setting the objectives and planning activities, the Governors have considered the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee charging. Our objectives are set to reflect our educational aims and the ethos of the School. It is important to us that we maintain and enhance the academic success of the School and as such, we outline our key objectives below.

Our key objectives for the year included:

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

Pupil numbers and fees

Our educational activities are carried out through our Prep, Pre-Prep & Nursery Schools. Pupil numbers in our Prep School were at 252, including 55 optional boarders. The number of pupils at our Pre-Prep School was 96. Nursery numbers, on a Full Time Equivalent basis, were 64.

Our fees increased by 5%. Our fees for the current year before the deduction of any means-tested fee assistance were:

Pre-Prep - £3,560-£4,700 per term

Prep School: Day - £5,950-£7,790 per term

Prep School: Boarders - £8,990 per term

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GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Academic

The 45 pupils leaving from Year 8 in 2024 went on to a range of 14 Senior Schools and won a total of 28 scholarships and exhibitions, our highest total to date. There were 6 Academic (including 2 Headmaster’s awards), 6 Sports, 5 Performing Arts, 5 Art and 5 DT awards in addition to a Brighton College Millennium Award. This reflects the School’s policy of providing individualised attention to every child coupled with a breadth of educational opportunity.

Co-curricular activities:

Music

2023–24 has been an exciting year for music. In January 2023, we launched a new music curriculum spanning Years 3-8 that brings together music theory, listening, improvisation, composition and socio-historical discussion. Our focus has primarily been on increasing practical performance opportunities in the classroom, including Samba Band (Y7), Gamelan Ensemble (Year 6), and Ukulele Band (Year 5).

We celebrated Cumnor Community Music Day with our Year 3-5 pupils at Arundel Cathedral. This included a performance of 'Symphonic Adiemus' by Sir Karl Jenkins featuring the Arundel cathedral choristers and lay clerks, professional soloists, a full orchestra and an adult choir. These bigger events were supported by a number of informal coffee concerts, and faculty concerts which give all instrumentalists at the school an opportunity to perform in front of a larger audience. The Music Department also collaborated with the drama department to provide musical backing for the Year 3, 5, 7 and Year 8 drama productions, as well as pre-prep events and productions.

The school acquired a new harp teacher who is offering lessons to pupils on a weekly basis. The department also took on a second guitar teacher, eliminating our waiting list. Plans are in place for next year to employ a double bass teacher, so that we offer the full provision of string instruments at Cumnor.

There are rising levels of musical literacy, particularly amongst our younger pupils, which in turn translates into more children playing instruments, and achieving higher standards. Our Louis Armstrong and Glenn Miller bands are bigger than ever before, and our orchestra is developing well. We have an upward trajectory on the quality of the singing in the chamber choir post Covid, and there are plans next year to introduce a Junior Choir for Y3 and 4, and to expand the opportunity to sing in Chamber Choir to Y5 and 6 by relocating the rehearsal to a Wednesday. This will make recruitment into Chamber Choir much smoother, and expand the numbers significantly. We have high percentage uptake for music lessons across Y3-8, particularly in Year 5 and 6 where the percentage of pupils playing at least one instrument is around 80%.

This year we have been fortunate to have many opportunities to perform outside school. Our year 6 students sang at the O2 Arena in London as part of Young Voices 2024. Our Chamber Choir was invited to Benenden to a vocal workshop with members of world renowned Voces8.

Drama and Dance

We had a full season of shows at Cumnor last year for all year groups. The Year 5 Show in a Week ’Oink’ in the Autumn Term was followed by the Nativity performance by the Pre-prep. The Year 7 students performed Andrew Lloyd Webber's 'School of Rock' in the Spring Term. The Year 6 Theatre Competition, the Year 3 performance of ‘The Grotts, the Year 4 Gobblefunk Drama Showcase and the Year 8 Outdoor Production of 'Much Ado About Nothing' made the Summer Term rich in performance. Cumnor Drama coordinates and delivers LAMDA speech and drama lessons to 112 students in Years 4-8, as well as planning and preparing Year 8 Drama Scholars for senior schools. The exam results were 104 distinctions and 8 high merits.

In 2023-24, we held our inaugural Dance Coffee Concert (attended by the Heads of Dance from Brighton, Hurst and Ardingly) and, at the end of Autumn Term, our ‘Strictly Cumnor Dancing’ competition involving over 50 boys and girls from multiple year groups. We also hosted our first ever 'Get Up and Dance Day' here at Cumnor when we were joined by teachers from Zoonation, Bollywoodvibes and Universal Dance who ran workshop classes for 51 of our pupils and 30 visitors from our local partner schools.

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GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Sport

Sport at Cumnor continues to encompass the school motto, “Aim High, Be Kind, Dare to be Different”. We believe that all Cumnor children should be active, that they will participate enthusiastically in organised sport, and that some will excel. Sport allows the children to explore their capabilities, offering them a framework to learn from mistakes whilst knowing they are supported in their own development. Away from the physical improvements and sport-specific skills, we focus heavily on their co-operation, respect, self-discipline and self-organisation. These ‘life skills’ expand the level of success we see through sport and the experience the children take on to their senior schools.

Sport is split into major and minor games: major being the traditional sports we play regularly in inter-school matches such as football, hockey, netball, rugby and cricket. Our minor games offering come in the form of sports that are offered to all, but are less widely played in school, such as: swimming, golf, tennis, sailing, cross-country, skateboarding to give a small flavour. We continue to widen the sports regularly offered in our sports programme, seeking to stay ahead of the curve and remain a leader in our locality.

We believe that strong links between school and club sport assist our students in achieving their full potential. We are extremely proud of our deep alignment with Fletching and Lindfield Cricket Clubs, East Grinstead Hockey Club, Haywards Heath and Crowborough Rugby Clubs and East Grinstead and Lindfield Football Clubs.

In 2023-24, Cumnor won the Sussex County Cricket Under 13 Girls Cricket Championship and were semi-finalists in the Sussex County Cricket Under 13 Boys Cricket Championship. We got through to the Final of the IAPS Under 13 Girls National Hockey Championships. We placed third in the IAPS Under 13 Girls National Indoor Cricket Championships and won the regional rounds of both the IAPS Under 13 Girls National Cricket Championships and the IAPS Under 11 Boys National Cricket Championships at the end of Summer Term.

Pastoral

The School is committed to safeguarding and promoting the welfare of pupils and staff in line with KCSIE. The Pastoral management of the school is overseen by the Pastoral Leadership Team, headed up by the Deputy Head (Pastoral). Alongside the regular information provided to parents about their children’s development through parents’ evening and reporting, a comprehensive series of talks and seminars are in place to help provide further guidance. The formation of meaningful relationship with parents is at the heart of an excellent Pastoral Care provision and regular contact is maintained throughout the year through informal conversations, face-to-face meetings and newsletters. Older pupils undertake a Peer Mentoring training programme to provide impactful and meaningful role models to younger pupils. Heads of Year oversee form takers in each year offering a point of escalation should it be required to manage any pastoral issues and concerns. These staff report and liaise directly with the Deputy Head (Pastoral). There is a pupil-led School Council as well as Cumnor Care Committees of pupils in each year group to identify pupil issues and reinforce our Anti-Bullying policy across the school. All of this is overseen by the Board’s Safeguarding Committee in liaison with the Pastoral Leadership Team.

The Cumnor Chapter Programme is a series of additional tools designed to complement the pastoral work already undertaken by form takers, in assemblies and by all teachers across the curriculum. These tools include a wellbeing hub that provides a proactive approach to mental health and wellbeing by offering support and guidance for every parent, pupil and member of staff at Cumnor and an Emotional Literacy Support Assistant practitioner to support children in the development of their emotional literacy.

Details of Fee Assistance and Scholarship awards: Fee Assistance

The Charity makes funds available for families and staff in financial need, which are granted on the merits of each case. Fee Assistance awards are important to provide access to the education offered to families from a range of backgrounds, many of which would otherwise not be able to afford the fees. There are three types of fee assistance available from the School: Foundation Scholarships for children who currently attend state school and are academically gifted and show outstanding potential in sport, music, art, DT or drama; Hardship Fee Assistance for parents in times of unforeseen financial hardship; Music and Performing Arts Scholarships, when discounts are given for additional drama, dance and instrumental lessons. The school encourages musical excellence and awards scholarships to those current children who have passed with distinction at Grade 4 or a pass at Grade 5 (piano and string instruments) or distinction at Grade 5 or a pass at Grade 6 (brass, wind instruments, drums and vocal). Lessons must be taken at school.

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GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Financial support for the means-tested Hardship Fee Assistance is available for parents who for some unexpected reason are unable to afford the standard fees. To receive means-tested fee assistance, parents will have to demonstrate a genuine need for financial assistance. The Governors set the funds available for fee assistance based on the financial health of the School and the approved charitable benefit. Approved fee assistance, and funds available to support them, are reviewed by the Governors on a termly basis. Means tested awards are designed to relieve hardship where a pupil’s education would otherwise be at risk.

The School has to ensure a balance between those fee-paying parents who may make a considerable sacrifice to fund their own children’s education and those benefiting from awards. Full details are available on the school website (www.cumnor.co.uk). During the year the total of awards granted was £752,232 (2023: £622,454) and represented 10% of our gross fees. These helped 64 of our pupils, of which 8 pupils benefitted from a full remission of fees. In 2022-23, we were struck by the plight of Ukraine after the invasion by Russia. In response to this crisis, and in order to help refugee children who were living with our parents, we took on 7 Ukrainian pupils on full fee remission. This support has continued in 2023-24.

Review

The Governors are constantly reviewing our Fee Assistance Awards policy to ensure that able children can accept offers of places at our School through the availability of awards, including means-tested fee assistance.

Cumnor Foundation

Each year, Cumnor House Sussex offers up to two fully-funded Foundation Scholarships to children currently in Year 3 at a Sussex state primary school, or who are being home schooled. Parents or guardians of children who are excelling academically and performing towards the top of their Class are encouraged to apply. The places are offered to children from families who could never afford to pay for an independent school education.

The Cumnor Foundation is unique, in its aim to place a child at an independent school on a 100% bursary for ten years, from the age of 8 to 18. Successful applicants join Cumnor House Sussex, on a full bursary, in Year 4 and remain with us until Year 8, when we support their move to an independent senior school, subject to their meeting the entry criteria of each school. They join that school’s own 100% funded fee assistance programme in Year 9, to the completion of their school education at the end of Year 13. The Foundation Scholarship at Cumnor includes activities such as sport, music, art and DT, as well as the cost of school uniform and school trips.

We have a range of local Sussex and national senior schools who have engaged with The Cumnor Foundation, including Benenden School, Eastbourne College, Hurstpierpoint College, The King’s School Canterbury, Mayfield School, Radley College, Roedean School, Sevenoaks School, Tonbridge School, Wellington College and Worth School – with new partner schools continually being added to this list.

Charities and Public Benefit:

Charitable activities and public benefit

The Governors consider that due regard has been paid to the public benefit guidance published by the Charity Commission. All activities at the school are focused on the principal charitable aim; that is the advancement of education. In addition, the school looks to provide other opportunities for charitable benefit whenever possible, including the provision of financial support through fee assistance, making the school facilities available to the wider community and raising funds for other charities.

Charity fund-raising

A total of over £49,540 (2023: £29,700) was raised by parents, children and staff and donated to charities over the course of the year, namely to Oscar’s Wish Foundation and PCD Support UK, both of whom support children in Sussex in various ways.

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GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Community Service

Community links

The School maintains links with:

Outreach programme

Our outreach programme seeks to widen access to our education resources, by bringing independent and state school communities together. We regard our ‘Outreach’ programme as a continuing success. We believe the exchange of ideas and the opportunity for our pupils to mix, learn and work alongside state pupils is beneficial to all pupils. Our primary aim is to provide opportunities for children from within our local community to experience a broader educational experience by using the facilities and expertise within our staff.

Sport

This year, we have made the following facilities and coaching available at a small/no charge to benefit pupils attending local state schools:

This year we have hosted Danehill Primary and St Giles Primary for football, rugby, netball and cricket festivals and there is an upcoming hockey festival planned.

Drama

The theatre space has been well used by Showstoppers Drama Holiday Camp throughout the year, generating an extra income of around £9,000 for the school. We were also pleased to let Danehill Primary use the theatre for their end of term performance in the Summer Term. In addition, we supported a number of community performing arts groups with low charge theatre lettings this year, including a production of Six by Worssam Productions, a dance production by Theatre Express, a Singing Mamas concert and our first comedy night hosted by Brighton-based comedy club, Funny That!

Music

School children and choirs are involved in Community Service visits and supporting local care homes including Rapkyns, Charters, and Abbeyfields. The School has, in the past, hosted charity concerts. The school hosts ABRSM music exams which includes spaces for external pupils from outside of Cumnor to participate. This year, the Director of Music gave a four-hands piano recital which was advertised internally and externally (including to our Alumni) which was well attended. The event was free admission, and donations were collected on exit for school charities.

Literacy

Now in its 8th year, Cuckfield Bookfest is an annual celebration of literature, bringing together authors, writers and book lovers of all ages. Cumnor again sponsored the Children’s Bookfest, an integral element of the overall programme, welcoming authors for children aged five upwards. In addition, Cumnor supported a Creative Writing Competition for 7-13 year olds from, celebrating World Space Week, receiving over 200 entries from 10 private and state-funded local schools.

Science

Children from local Primary schools have been invited to experience our facilities in a subject where these opportunities are not possible within their own science curriculum. There is a weekly rota on a Wednesday afternoon for the aforementioned schools to learn in our labs under the guidance of our staff.

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GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Environmental Initiatives: Cutting our ‘carbon footprint’

The School continues to recycle as much as practical. This is complemented by many environmental and recycling initiatives to reduce emissions in our buildings new and old and by educational initiatives. We recycle food, paper and cardboard; glass and tin; and large metals are taken to a scrap metal merchant. We have solar panels on the Science building and have joined the payback scheme to put unused power back into the Grid, as well as running four air source heat pumps in the building under the RHI scheme. We are undertaking an analysis of energy consumption to reduce use in certain areas and are investigating wider use of photovoltaic panels and heat pumps.

Our Old Cumnorians

We currently have 2,402 Old Cumnorians (OCs) listed on our alumni database. We are working hard to encourage other OCs to reconnect and update their details via a termly newsletter and social media posts, plus regular reunions and invites to a number of key events in the school diary (such as the Christmas Fair and theatre productions). The school’s new website will enable us to add regular OC ‘spotlight’ pieces, sharing the experiences of individual alumni about their journey post Cumnor and their lives today.

In May 2024, we welcomed back 100 OC leavers from 1986 to 2000 for lunch followed by a school tour and cricket match. This reunion was supported by Anna Milner-Gulland (widow of former Headmaster, Nick MilnerGulland), Liv Munday (Class of 1992), Frances Marden (Class of 1994) and Lachlan Nieboer (Class of 1995). In early June, 40 leavers from Class of 2023 returned to school for their ‘one year on’ gathering, to which their parents were also invited.

During the Summer term of 2025, the Classes of 2014 and 2015 will be invited to the school to celebrate a decade since they left – again with the invite extended to their parents. We also plan to reinstate an annual Old Cumnorian event to which OCs from any year/era will be welcome to attend.

As well as enhancing and expanding engagement with our OCs, we have now established a Friends of Cumnor initiative which allows parents of OCs, grandparents/other relatives of current pupils, former Cumnor staff and members of the local and wider community to opt-in to receive termly email updates on the life and work of the school – including invites to a range of school events.

FUTURE PLANS

The School operates a development plan that is reported to the Board each term and formally reviewed by the Governors annually. In 2023-24, our main drive was to allow the new Senior Leadership Team to take charge of all aspects of the School. Key developments were; design, development and launch of a new school website; improved strategies for communication with parents; implementation of a new behavioural policy; launch of the Cumnor payscale to ensure transparency and progression of teachers’ pay; several new systems for tracking pupils’ progress and pre-prep reporting; establishment of a School Council and Parent Representatives; introduction of new Performing Arts Scholarship for Year 7 entry; extending our co-educational sports offering with introduction of Girls’ Football season and laying of 2 artificial cricket wickets, to allow more girls’ hardball cricket; and training in Equality, Diversity and Inclusion (EDI) which will lead to the creation of an EDI policy and roadmap.

There were no major capital developments or expenditure. We continue to hold a designated fund for major structural repairs.

The Governors intend to continue their current strategies of maintaining the School’s position in a competitive market by investing to provide high quality education for our pupils. Achieving a high standard of academic results is a constant aim whilst maintaining the breadth and depth of the education provided.

Our plans are financed primarily from fee income and from a bank loan. The Governors need to maintain an equitable balance between ensuring our current pupils benefit whilst, at the same time, ensuring a sound infrastructure and financial base are preserved for the next generation of pupils.

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GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

OUR FINANCES

Financial review

The Charity is in a sound financial position with good prospects as highlighted above in the review of activities, despite a difficult economic climate. The School generated a surplus on operating activities of £317,013 (2023: £238,573) with the inclusion of charitable donations received of £1,264 (2023: £1,728). Surplus funds generated by the School’s activities are supplemented by secured bank loans, the level of which is monitored by the Governors against financial performance to ensure they remain appropriate to the School.

The principal source of income is fees accounting for 97% of the School’s income. The Governors are continuing their strategy of deploying all net incoming resources to investing in the educational purposes and fabric of our School.

As a charity, the parents of our pupils have the assurance that all the income of the School must be applied to educational purposes. As an educational charity we enjoy tax exemption on our educational activities and these are applied for our charitable aims. As a Charity we are also entitled to an 80% reduction on our business rates on the property we occupy for our charitable purposes. The financial benefits we receive from these tax exemptions are all applied to educational purposes and help us to maintain our bursary policies and ‘outreach’ programme.

However, as an educational charity, we are unable to reclaim VAT input tax on our costs as we are exempt for VAT purposes. We also pay tax as an employer through the National Insurance contributions we make.

Reserves policy

The Governors regularly review the finances of the school in accordance with a plan of effective stewardship. The School had unrestricted reserves (land, buildings and current assets less creditors) at the year-end of £8,764,266 (2023: £8,447,253), including net current assets of £2,832,878. The School’s reserves policy is to ensure that its financial affairs are maintained within a budget that is approved by the Governors. The Governors consider that, in the event of a significant drop in short-term funding, they will be able to continue the School’s activities while consideration is given to ways in which additional funds may be raised.

Reserves are made up of land, buildings and current assets less creditors and are called ‘Funds’ in charity accounts.

Investment policy

The School currently has no investments under management. Any surplus cash is managed in-house, being invested in deposit accounts with Lloyds Bank, in accordance with delegated authorities as approved by the Governors.

Executive Remuneration Policy

Cumnor House School Trust is an equal opportunities employer and applies objective criteria to assess merit. The Standing Committee set pay levels for the Executive and is provided with the details of academic and nonacademic staff (including annual pay rises and pay rates for new staff). The Finance & General Purposes Committee approves the overall payroll budget for the year. Separately the terms and conditions of the Executive are reviewed annually by the Standing Committee with reference to national and local trends and are set in line with salaries of similar roles in the sector. It is the school’s policy to pay staff in accordance with individual performance while at the same time supporting our ability to attract the right people to all levels of responsibility within the organisation.

Developments and Maintenance

This year there were no major developments. In terms of minor works, we refurbished the girls’ and boys’ dormitories, refurbished the toilets in the main building and turned the old uniform shop into a wet weather recreational space. We added toilets onto a Year 2 classroom block; we re-roofed two buildings; renewed carpets in one classroom; redecorated the theatre, exterior cladding of the swimming pool, 4 classrooms and the ground floor of the main building; installed new windows on the terrace side of the main building; installed new fire doors in the girls’ and boys’ dormitories and upgraded our fire detectors and extinguishers throughout all buildings. The School’s ‘Green Week’ puts an emphasis on sustainability but the long-term goal of overhauling all gas and oil boilers in favour of heat pumps and solar panels has been put on hold on the basis of cost; it remains an aspiration.

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GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Pension Liability

The School participated in a Royal London Group Scheme with defined contributions for its teaching and some non-teaching staff. The pension charge for the year includes contributions payable to Royal London of £468,260 (2023: £449,517). The remaining staff were enrolled in Scottish Widows or NEST Schemes, unless they specifically opted out.

OUR ETHOS, STRATEGY AND POLICIES

Our Governors are responsible for monitoring the Executive, who set a strategy for achieving the School’s objectives, and for the long-term financial health and sustainability of the school. The focus of the strategy is on the development of our pupils, their continued high levels of academic and co-curricular achievement and to widen further access to the education our School provides. It also gives priority to ensuring that we have a safe and secure environment in which children have the freedom to develop their multiple talents.

ACCESS POLICY

It is important to us that access to the education we offer is not restricted only to those who can afford our fees. We believe our pupils benefit from learning within a diverse community.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The School Governors are Trustees of the Charity and Directors of the Company for the purpose of company law. None has any beneficial interest in the Company. The Governors have overall responsibility for the management and control of the Charity and the full Board of Governors meet at least three times a year.

After discussion with the Headmaster and the Standing Committee, the Chairman invites persons with an interest in this Charity with appropriate backgrounds such as education, finance, law, business, medicine and property, to consider accepting nomination for election as a Governor at least once per annum at a full Board meeting. We always ensure a balance of such qualifications is sought and Governors are expected to take an active part in the Committees. We also ensure we have a number of parents who are Governors. The Standing Committee is responsible for reviewing the process for appointment and succession of Governors. New Governors are given a thorough induction on appointment and provided with all the necessary documentation on the Charity and how to fulfil their duties. They are invited to attend training courses as necessary. Governors spend a minimum of a day each year observing teaching and interacting with pupils and staff.

The Education, Safeguarding and Finance & General Purposes Committees meet in advance of each full Board meeting. The Standing committee meets at least annually. Other committees and working groups can be convened as required. Day to day running of the School is delegated to the Senior Leadership Team of Headmaster, Deputy Heads (Pastoral and Academic), Head of Pre-Prep and Bursar. The Headmaster and Bursar are invited to attend the meetings of all of the above committees; the Deputies and the Head of Pre-prep attend one Board meeting a year to update the Board on their remit. The School’s Bursar is also Clerk to the Governors and as such is responsible for co-ordinating the work of the Governors and their Committees, preparation of papers and management accounts and the review of matters arising.

All trustees give of their time freely and no remuneration was paid in the year, and there were no expenses to be reimbursed.

Senior Leadership Team

The Governors now recognise that the Head, Deputy Head Pastoral, Deputy Head Academic, Head of Pre-Prep and the Bursar comprise the Senior Leadership Personnel (see note 9 to the accounts). The Governors have given delegated authority to the Head to pay higher salaries for exceptional candidates where this is in the interest of the School. The day-to-day running of the School is delegated to the Head, supported by senior staff. The Headmaster undertakes the key leadership role overseeing educational, pastoral and administrative functions in consultation with the senior staff. The day-to-day administration of the School is undertaken within the policies and procedures approved by the Governors which provide for significant expenditure decisions and major capital projects to be referred to the Governors for prior approval. The Head oversees the recruitment of all staff.

Other Relationships

The Head is a member of the IAPS and of the ‘Oxford Group’, which presents opportunities at the IAPS conference and elsewhere to share expertise, knowledge and experience across the independent school sector. The Conference also permits appropriate representation to Government and regulators of the views of the sector. The Deputy Head Pastoral is a member of the Oxford Group of Deputy Heads. The Bursar is a member of the

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GOVERNORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

NAHT and of the Independent Schools Bursars Association. The School is a member of the Boarding Schools’ Association.

PRINCIPAL RISKS AND UNCERTAINTIES

Risk factors

The Finance and General Purposes and the Safeguarding Committees covers risk and are responsible for assessing the major risks to which the Charity is exposed and reporting on these to the Board of Governors. The Governors continue to keep the School's activities under review, particularly with regard to new risks that may arise from time to time. The Governors consider that all major risks identified by this process have been mitigated to an acceptable level by internal controls, insurance cover and other factors as appropriate.

Risks and uncertainties

The principal concern for the school is the welfare of the pupils and staff, which is a pervasive factor in the assessment of risk by the Governors and the determination of mitigating actions. The risk management process has highlighted the following specific matters that the Governors consider to be the principal risks and uncertainties facing the School:

Economic Outlook and Market Considerations

The Governors are aware of a number of macro-economic factors that are putting pressure on the demand for independent education amongst parents and in particular their ability to pay school fees. These pressures seem likely to continue and may even intensify over the next few years that would have the effect of reducing pupil numbers. The Governors wish to operate a sustainably sized school with pupils drawn from a broad base of backgrounds. This objective, combined with their knowledge of the fee structures of other schools in the area with comparable offerings, has led the Governors to take the following steps:

Cyber Security

We continue to monitor any threats, remind staff and children about the possibilities of letting viruses, malware and ransomware into the school and our firewalls for incoming and outgoing data are continually modernised. Comprehensive IT provision is an essential part of a successful school. The Governors continue to take the issue of Cyber Threat seriously but all significant and medium risk items have been mitigated as far as is reasonably practical. The School has invested in hardware and staff training to maintain a good level of provision for remote learning, parents’ evenings and other normal interaction. We shall continue to investigate other means of ensuring cyber security within reason, alongside our partner firm.

Planning

We hold planning permission for a new classroom block.

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Safeguarding

The concerns for children’s welfare and wellbeing are growing with the changes to society and the increase in use of social media. In response, the Safeguarding Committee of Governors meets three times a year, reporting to the main Board, on matters central to the needs of the children, their safety and well-being. In September 2022, the school employed a Deputy Head Pastoral to ensure that all legislation, regulation and school policies are fully implemented.

The Governors are responsible for the overseeing of the risks faced by the School. Detailed considerations of risk are delegated to the Senior Management of the School. Risks are identified, assessed and controls established throughout the year. A formal review of the charity’s risk management processes is undertaken on an annual basis. Through the risk management processes (a Risk Register and pursuant Mitigation Document) established for the School, the Governors are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Governors insurance

The School holds Governors’ Liability Insurance.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the Governors has confirmed that there is no information of which he or she is aware which is relevant to the audit, but of which the auditors are unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.

AUDITORS

A resolution proposing that TC Group be reappointed as auditors of the charity will be put to the Board.

GOVERNORS AND CHARITY TRUSTEES STRUCTURE, GOVERNANCE AND MANAGEMENT

The Governors are the charity trustees of Cumnor House School Trust. New Governors are appointed by the existing Board of Governors. All Governors have served throughout the year except where indicated:

Cumnor House School Trust is a registered Charity, number 801924. It is a company, number 2411055, limited by guarantee, which was incorporated on 3 August 1989. The charity is governed by its memorandum and articles of association.

The Governors who served since the start of the accounting period (i.e. 1 September 2023 until the date of the signing of the accounts) were:

J L Tanner (Chair) H D Bastide (Deputy Chair) (resigned 26 June 2024)

R P Boardman

C V Brand

N J Collins S L Bevan (resigned 26 June 2024)

S McConnell J F A Reynolds G E Siebert

J V McCaldin (appointed 6 December 2023)

A J Emery (appointed 6 December 2023)

J Hempsted-Kingham (appointed 6 December 2023)

S Miller (appointed 20 March 2024)

10

CUMNOR HOUSE SCHOOL TRUST GOVERNORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The work of Ihe committees The Finance & General Purposes Committee covers Finance & Development and most aspects of Risk (the Safeguarding Committee monitors child protection and safeguarding risks). The following served as members of the Finance & General Purposes Commillee.. J L Tanner (Chairman), S Mcconnell Ichairl, J McCald1n (Finance). A Emery and F Reynolds ID8velopmentl. This committee is responsible for the fee structure and annual fee adjuslmenls, policy with regard lo fee bursaries, including scholarships, annual forward budget. comprising profit and loss account. balance sheet, cash flow slalement, capital expenditure budget , new borrowings or changes in conditions of existing borrowings. as well as any p18dging of th8 assets. significant leases and other contracts, selection and terms of appointment of auditors and other advisers, banking arrangements and commencement of18gal proceedings by the Schoal and response to proceedings againsl the School, the review of the property and facility requirements for the school linked lo capital expgndilure. These include major and minor capital projects. acquisitions and disposals of property, th8 planned maintenance programme. minor works projects and repairs, the assessment of the significant risks lo the charity that need to be addressed, lo check they are mitigated as far as practicable, and lo validate the principles of risk management al the school. The following have served as members of the Education Commlttè8'. Miss N J Collins (Chairl, Mrs H D Bastide, Mrs S L Bevan and Mr S Miller. This commillee is responsible for the continued development ol an academi but appropriate curriculum at the school, one that is bas8d on fulfilling the ethos of thè school with ils wid&r aims end pursuit of the cullivalion of spirit and character, but also lo ensure that the inlelleclual, aesthetic and personal development of all the children is taken into account. This includes a need to monitor the compliancy and regulatory matters as regards SEN provision, stretching the 'glfted and lalenled, and keeping an eye Dn best educational practice. The following have served as members of the Safeguarding Committee Mrs C V Brand (Chair and Medicall, Mrs H D Bastide IEYFSI, Mrs S L Bevan (Boarding), and Mr J Hempsled-Kingham Ilnlernet safety). This committee is responsible for ensuring that Cumnor House School I'lhe School'} and the Board comply in all respects with thelr dulles undèr currènt 18gislation and have regard to government guidance, to 8nsure that the School's policies, procedures and training are effective and comply with the law al 811 times in order lo meet their duty to safeguard and promote the w81fare of the pupils in the School (and lo keep the Board briefed acGordingly}. The following have served as members of the Standing Committee., J L Tanner (Chairman), Mrs H D Bastide, R P Boardman, & Miss N J Colllns. This commlltee Is responsible for reviewing the remunerallon and beneflls of the members of the Executive Team (comprising the Headmaster, the Bursar) with a view lo Making recommendations lo the Board of Govemors. The following 8xecutive personnel of the School serv&d during th& year as indicated. Neither is a trustee or director, although the Bursar serves as Company Secretary and Clerk to the Governors: . F J LI8W8llyn - Headmaster L A Stark- Bursar This report was a roved by the directors of the Trust al the Board meeting as dated below. JLTan Govern r (Choirman £Lk li

CUMNOR HOUSE SCHOOL TRUST

STATEMENT OF GOVERNORS’ RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024

The Governors, who are also the Directors of Cumnor House School Trust for the purpose of company law, are responsible for preparing the Governors' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Governors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the Governors are required to:

The Governors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

12

CUMNOR HOUSE SCHOOL TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CUMNOR HOUSE SCHOOL TRUST FOR THE YEAR ENDED 31 AUGUST 2024

We have audited the financial statements of Cumnor House School Trust (the 'charitable company') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow Statement and notes to the financial statements. 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis of 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 the provisions available for small entities, and we have fulfilled our 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 governor’s 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 doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the governor’s 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, including the governor’s 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.

Opinions on other matters prescribed by the Companies Act 2006

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

13

CUMNOR HOUSE SCHOOL TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CUMNOR HOUSE SCHOOL TRUST FOR THE YEAR ENDED 31 AUGUST 2024

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors' report.

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

Responsibilities of governors

As explained more fully in the governors' responsibilities statement, 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 governors 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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so.

Auditor's responsibilities for the audit of the financial statements

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.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

14

CUMNOR HOUSE SCHOOL TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CUMNOR HOUSE SCHOOL TRUST FOR THE YEAR ENDED 31 AUGUST 2024

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for the no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, or for the opinions we have formed.

Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group

Statutory Auditors

Office: Steyning, West Sussex

Dated:

15

CUMNOR HOUSE SCHOOL TRUST STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2024

Income from:
Notes
Donations and legacies
Other trading activities
3
Charitable activities
4
Investment income
5
Total income
Expenditure on:
6
Raising funds
Finance costs
Total cost of raising funds
Charitable activities
Education
Total expenditure
Net income / (expenditure)
Transfer
18
Net movement in funds
Fund balances at 1 September 2023
Fund balances at 31 August 2024
21		 Unrestricted
funds
£
1,264
138,239
7,003,918
73,543
7,216,964
52,443
52,443
6,847,508
6,899,951
317,013
90,000
407,013
8,357,253
8,764,266		 Designated
funds
£
-
-
-
-
-
-
-
-
-
-
(90,000)
(90,000)
90,000
-		 Total
2024
£
1,264
138,239
7,003,918
73,543
7,216,964
52,443
52,443
6,847,508
6,899,951
317,013
-
317,013
8,447,253
8,764,266		 Total
2023
£
1,728
115,749
6,508,486
-
6,625,963
62,444
62,444
6,324,946
6,387,390
238,573
-
238,573
8,208,680
8,447,253

All income and gains for the period are recognised above. All of the school’s activities are classified as continuing.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

16

CUMNOR HOUSE SCHOOL TRUST BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Notes Fixed assets Tangible assets 12 8,958,904 9,239,005 Currentassets Debtors 13 308,461 301,750 Cash at bank and in hand 5.476.724 1,965,402 5,785,185 2,267,152 Creditors: amounts falllng due wlthln one year 14 (2,952,307) (1,930,618) Netcurrentassets 2,832,878 336,534 Total assets less current liabllltles 11,791,782 9,575,539 Credltors.. amounts falllng due after more than one yoar 13,027.5161 (1,128,286) Net assets 8,764,266 8,447,253 Incomfrfunds Unr8strict8d funds 21 8,764,266 8,357,253 Deslgnaled funds 18 90,000 8,764,266 8,447,253 The accounts rea roved by the Board on 26IL IoL4- J L Tanner Governor hairthanl Company Reglstratlon No. 2411055 Charity Registration No. 801924 17

CUMNOR HOUSE SCHOOL TRUST CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2024

Note
Cash flows from operating activities
20
Cash flows from investing activities
Financing costs
6
Payments to acquire tangible fixed assets
12
Investment income
5
Net cash used in investing activities
Net cash inflow before financing
Cash flows from financing activities
Repayment of long term bank loan
15
Net cash inflow/(outflow) from financing
activities
Increase in cash
Cash and cash equivalents at start of year
Cash and cash equivalents at end of year
All cash is cash at bank and in hand.
Net cash
Cash
Cash at bank and in hand
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total net cash		 (52,443)
(67,821)
73,543
(166,155)

18

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

1 Statutory information

Cumnor House School Trust is a charitable company, limited by guarantee, registered in England and Wales. The charitable company’s registered number and registered office address can be found on the legal and administrative information page.

2 Accounting policies

2.1 Basis of preparation

The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2019) – Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Cumnor House School Trust meets the definition of a public benefit entity under FRS102. Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about Cumnor House School Trust’s ability to continue as a going concern.

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

2.2 Income

Fees receivable and charges for services are accounted for in the period in which the services are provided. Fees receivable are stated after deducting allowances, scholarships and other remissions granted by the school.

Fees received in advance of education to be provided in future years under an Advance Fee Payment Scheme contract are held as liabilities until either taken to income in the term when used or else refunded. These liabilities have been allocated to the periods in which they will be utilised.

Donations and gifts are accounted for when they can be measured reliably, it is possible that the income will be received and when the school becomes entitled to the income.

Other income is accounted for when receivable.

2.3 Expenditure

All expenditure is included on an accruals basis. Expenditure is summarised under functional headings in the Statement of Financial Activities, with irrecoverable value added tax included with the item of expense to which it relates. This includes any costs in relation to redundancy or termination payments.

The costs of generating funds represent bank interest payable.

Governance costs are those incurred in connection with the administration of the Charity and compliance with constitutional and statutory requirements.

Support costs are those incurred directly in support of expenditure on the objects of the school.

19

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

2.4 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment 25% on reducing balance, and; 25% on cost Motor vehicles 25% on cost Freehold buildings 2% - 5% on cost

No depreciation is provided on freehold land amounting to £230,000 (2023: £230,000).

2.5 Leasing and hire purchase commitments

Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease.

2.6 Pensions

The school contributes to defined contribution personal pension schemes for staff. Contributions are credited to the Statement of Financial Activities as they fall due.

2.7 Accumulated funds

Unrestricted school funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Governors.

Designated funds - these are funds which have been set aside by Governors to use for a specific purpose. The purpose and use of the designated fund is set out in the notes to the accounts.

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

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments. The Governors seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.

2.9 Creditors and provisions

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

2.10 Debtors

Trade and other debtors are recognised at the settlement amount due.

20

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

2.11 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Governors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The Governors do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.

3 Other trading activities

Shop income
Rental income		 2024
£
690
137,549
138,239		 2023
£
2,640
113,109
115,749

4 Income from charitable activities

Gross school/nursery fees
Bursaries and allowances
Registration fees
Extras
Net school/nursery fees		 2024
£
7,495,104
(752,232)
6,742,872
11,600
249,446
7,003,918		 2023
£
6,876,371
(627,571)
6,248,800
19,200
240,486
6,508,486

In addition to the above, the school supports Foundation scholars. During the year The Cumnor Foundation (a separate registered charity) paid £173,239 (2023: £118,731) for seven (2023: seven) Foundation Scholars.

5 Investment income

Investment income 2024
£
73,543
73,543		 2023
£
-
-

21

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

6 Total expenditure
Raising funds
Finance costs
Total cost of raising funds
Charitable activities
Education
Teaching
Welfare
Premises
Finance
Support costs
Total charitable activities
Total expenditure		 Staff
costs
£
-
-
3,479,505
293,956
266,977
-
486,997
4,527,435
4,527,435		 Depreciation
£

-

-

16,120

-

331,804

-

-

347,924

347,924		 Other
costs
£
52,443
52,443
414,728
558,507
824,291
1,711
172,912
1,972,149
2,024,592		 Total
2024
£
52,443
52,443
3,910,353
852,463
1,423,072
1,711
659,909
6,847,508
6,899,951		 Total
2023
£
62,444
62,444
3,584,888
831,466
1,232,886
1,763
673,943
6,324,946
6,387,390

Net incoming resources are stated after charging £54,707 (2023: £56,513) to operating lease rentals included in premises costs and interest charged on the bank loans of £52,443 (2023: £62,444) included in finance costs.

7

Support costs
Administrative staff costs
Professional fees
Inspection costs
Telephone
Subscriptions
Marketing
Other support costs
Governance costs (note 8)		 2024
£
486,997
24,201
5,561
7,610
14,032
100,576
7,263
13,669
659,909		 2023
£
476,808
35,195
3,895
17,476
10,592
45,913
69,880
14,184
673,943

22

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

8 Governance costs

Audit fees
Other governance costs–non-audit fees		 2024
£
12,600
1,069
13,669		 2023
£
13,500
684
14,184

9 Employees

Number of employees


The average monthly number of employees during the year was:
Teaching staff
Non-teaching staff
The average monthly full-time equivalent number of employees was:
Teaching staff ( updated comparative due to change in method of calculation)
Non-teaching staff
Employment costs*
Gross salaries
Employer’s national insurance
Pension costs		 2024
Number
84
42
126
70
29
99
2024
£
3,707,392
351,783
468,260
4,527,435		 2023
Number
80
43
123
*68
26
94
2023
£
3,421,609
310,919
449,517
4,182,045

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

2024 2023
Number Number
£60,000 to £70,000 3 2
£70,000 to £80,000 1 -
£100,000 to £110,0000 - 1
£130,000 - £140,000 1 1

Contributions totalling £47,895 (2023: £38,824) were made during the year to pension schemes on behalf of employees whose emoluments exceeded £60,000.

23

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

9 Employees (continued)

The key management personnel of the charity comprise the Head Teacher and the Bursar. The total employee benefits (including employer’s national insurance, employers pension contributions and ex gratia payments in 2023 (the terms of which are confidential)) of key management personnel of the charity during the year were £264,756 (2023: £282,602).

No governors receive any remuneration for their role as a governor.

A number of termination payments were made in the year, the terms of which are confidential and therefore not disclosed separately in these accounts. They are included in the total employment costs for the year.

Income from:
Notes
Donations and legacies
Other trading activities
3
Charitable activities
4
Total income
Expenditure on:
6
Raising funds
Finance costs
Total cost of raising funds
Charitable activities
Education
Total expenditure
Net income/net movement in funds
Fund balances at 1 September 2022
Fund balances at 31 August 2023		 Unrestricted
funds
£
1,728
115,749
6,508,486
6,625,963
62,444
62,444
6,324,946
6,387,390
238,573
8,118,680
8,357,253		 Designated
funds
£
-
-
-
-
-
-
-
-
-
90,000
90,000		 Total
2023
£
1,728
115,749
6,508,486
6,625,963
62,444
62,444
6,324,946
6,387,390
238,573
8,208,680
8,447,253

11 Taxation

The school is a Registered Charity (number 801924). All activities are undertaken to fulfil the primary objectives of the charity and are therefore exempt under Part 11 of the Corporation Tax Act 2010.

24

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

12
Tangible fixed assets
Cost
At 1 September 2023
Additions
At 31 August 2024
Depreciation
At 1 September 2023
Charge for year
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023		 Land and
buildings
£
12,295,966
46,371
12,342,337
3,488,510
259,903
3,748,413
8,593,924
8,807,456		 Fixtures,
fittings
&
£
1,357,003
20,400
1,377,403
949,023
71,899
1,020,922
356,481
407,980		 Motor
vehicles
£
187,612
1,050
188,662
164,043
16,120
180,163
8,499
23,569		 Total
£
13,840,581
67,821
13,908,402
4,601,576
347,922
4,949,498
8,958,904
9,239,005
13 Debtors
Trade debtors
Other debtors
Prepayments and accrued income
2024
£
212,506
68,069
27,886
308,461		 2023
£
197,477
97,968
6,305
301,750

25

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

14
Creditors: amounts falling due within one year
Bank loans (see note 15)
Trade creditors
Taxes and social security costs
Fees in advance
Other creditors
Accruals
Finance lease obligation
Deferred income - Advance fees payment scheme (see note 16)		 2024
£
173,313
96,116
84,728
593,416
531,085
91,160
61,160
1,321,329
2,952,307		 2023
£
166,475
107,245
89,249
799,520
558,229
143,999
65,901
-
1,930,618

Fees in Advance represent monies received on account of fees due for the Autumn term 2024/25.

Amounts included as Advance Fees Payment Scheme are those received under a contract for future years' fees. The money may be returned subject to specific conditions upon the receipt of one term's notice.

Included within other creditors are amounts held as deposits, which are due on the pupil leaving the school or on receipt of one term's notice.

15 Creditors: amounts falling due after more than one year

Bank loans
Deferred income - Advance fees payment scheme (see note 16)
Finance Lease Obligation
The finance lease is secured on the assets acquired.
Bank loan maturity analysis
Debt due in one year or less (see note 14)
In more than one year but not more than two years
In more than two years but not more than five years
In more than five years		 2024
£
839,966
2,141,680
45,870
3,027,516

2024
£
173,313
180,667
604,939
54,360
1,013,279		 2023
£
1,012,959
-
115,327
1,128,286
2023
£
166,475
173,833
551,070
288,056
1,179,434

The Development Loan was taken out during the 2016 accounting period, with a further draw down during 2017. At the balance sheet date £1,013,279 was outstanding in respect of this loan (2023: £1,179,434). Interest only was paid until December 2017. Capital and interest started being repaid from January 2018.

This loan is secured by a legal charge over the commercial freehold and residential freehold properties of the school.

26

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

16 Advance Fees Payment Scheme

Parents may enter into a contract to pay to the school tuition fees in advance. The money may be returned subject to specific conditions upon the receipt of one term's notice. Assuming pupils will remain in the school, advance fees will be applied as below.

Amounts due within one year
Amounts due over one year		 2024
£
1,321,329
2,141,680
3,463,009		 2023
£
-
-
-

The balance represents the accrued liability under the contracts. The movements during the year were:

Balance as at 1 September 2023
Amounts received in year
Amounts credited to pupil accounts for fees
Balance as at 31 August 2024		 -
3,463,009
-
3,463,009		 30,930
-
(30,930)
-

17 Pension and other post-retirement benefit commitments

The school operates a defined contribution pension scheme for all staff. The pension charge for the year includes contributions payable to this scheme of £468,260 (2023: £449,517).

18 Designated Funds

Building Maintenance At 1
September
2023
£
90,000
90,000		 Movement in funds
Income Expenditure
Transfer
£
£
£
-
-
(90,000)
-
-
(90,000)		 At 31 August
2024
£
-
-

The building maintenance fund represents funds set aside by governors to pay for potential future repair work. The Governors agreed to transfer this fund back to unrestricted funds in the year.

19 Share capital

The company is limited by guarantee and does not have share capital. In the event of the company being wound up and being unable to meet its liabilities, each member undertakes to contribute such sums as may be required up to a maximum of £1 each. The company is under the control of the board of Governors.

27

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

20 Net cash inflow from operating activities
Reconciliation to changes in resources
Changes in resources
Financing costs
Depreciation of tangible fixed assets
Investment income
(Increase)/decrease in debtors
Increase/(decrease) in creditors
21 Analysis of net assets between funds
Fund balances at 31 August 2024 are represented by:
Tangible fixed assets
Current assets
Creditors: amounts falling due within one year
Creditors: amounts falling due after more than one year
Fund balances at 31 August 2023 are represented by:
Tangible fixed assets
Current assets
Creditors: amounts falling due within one year
Creditors: amounts falling due after more than one year		 Unrestricted
funds
£


8,958,904
5,785,185
(2,952,307)
(3,027,516)		 2024
£


317,013
52,443
347,922
(73,543)
(6,711)
3,087,074
3,724,198
Designated
funds
£


-
-
-
-
-
-
90,000
-
-
90,000		 2024
£


317,013
52,443
347,922
(73,543)
(6,711)
3,087,074
3,724,198
Designated
funds
£


-
-
-
-
-
-
90,000
-
-
90,000		 2023
£
238,573
62,444
329,287
-
(96,427)
104,624
638,501
Total
£
8,958,904
5,785,185
(2,952,307)
(3,027,516)
8,674,266 8,764,266
9,239,005
2,177,152
(1,930,618)
(1,128,286)
8,357,253		 9,239,005
2,267,152
(1,930,618)
(1,128,286)
8,447,253

28

CUMNOR HOUSE SCHOOL TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

________________

22 Commitments under operating leases

At 31 August 2024 the company had total commitments under non-cancellable operating leases as follows:

Expiry date:
Within one year
Between one and two years
Between two and five years		 2024
£
54,707
7,933
10,110
72,750		 2023
£
55,163
42,491
15,684
113,338

23 Related parties

The school is limited by guarantee with no one member having overall control.

During the year, the school made a donation to a community interest company for £1,000 (2023: £1,800) to which a governor of the school is also a director. There were no other related party transactions with regards to the governors in the year (2023: £nil).

Cumnor House School believes that an excellent education should be available to all children, regardless of means. In order to facilitate this, The Cumnor Foundation (a separate charity – charity number 1168316) has been set up to provide free places at Cumnor House School, and thereafter at a number of senior independent schools. The Cumnor Foundation has a board of trustees which is not common to Cumnor House School. Two of the governors of the school are trustees of The Cumnor Foundation.

29