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← Moon Hall Schools Educational Trust

2024-08-31-accounts

Reglstered number: 02485159 Charity number: 803481 Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Trustees, Report and Financial Statements For the Year Ended 31 August 2024

Moon Hall Schools Educational Trust (A Company Llmited by Guarantee) Contents Page Reference and Admlnlstrative Details of the Charitable Company, its Trustees and Advisers Trustees. Report Independent Auditors. Report on the Financial Statements Statement of Financlal Activities 10-13 14 Balance Sheet Statement of Cash Flows 16 Notes to the Financlal Statements 17-32

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Reference and Administrative Details of the Charitable Company, its Trustees and Advisers For the Year Ended 31 August 2024 Designated Trustees E S Hames A Turner, Chair E M Fitzgibbons G P Humphries A Walford O Newhall A R Kitley L Grabau AJGear Conipany registered number 02485159 Charity reglstered number 803481 Registered offlce Burys Court Flanchford Road Leigh Reigate Surrey RH2 8RE Company secretary and Andrea Frances Owens Bursar Executive Head M Catterson Independent auditors Kreston Reeves LLP Chartered Accountants Statutory Auditor Springfield House Springfield Road Horsham West Sussex RH12 2RG Bankers Barclays Bank PIC 87199 High Street Dorking Surrey RH2 8RE Page 1

Moon Hall Schools Educational Trust {A Company Limited by Guarantee) Trustees. Report For the Year Ended 31 August 2024 The Trustees present their annual report, including the Strategic Report, together with the audited financial statements of the Charitable Company for the year 1 September 2023 10 31 August 2024. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the Charitable Company comply with the current statutory requirements, the requirements of the Charitable Company's governing document and the provisions of the Statement of Recommended Practice {SORP} applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102} {effective 1 January 20191. Objectives and activities a. Policies and objectives Moon Hall is a Mainstream Specialist school for Dyslexic children working towards the Common goal and vision for an Access to Education for all. Moon Hall School was originally founded as a school for young dyslexic pupils by Berry Baker at her home in 1985. In 1990, she donated the business and assets to the newly estsblished Charitable Company which she and her husband, David, had established. In 2005, Moon Hall Schools Educational Trust purchased the freehold propety, assets and business of Burys Court School in Leigh near Reigate, Surrey. This school is now known as Moon Hall School Reigate and teaches dyslexic Ghildren from Year 3 to Year 11 IGCSEI. We aim, through our Junior and Senior Schools, to provide a first-class education to boys and girls from the ages of 7 to 16. We seek to provide our pupils with a structured educational environment with specialist support for dyslexia integrated Èhroughout in a way that secures their literacy and numeracy, rebuilds their confidence, and identifies and develops their capabilities, competencies and skills. We promote the academic, mora5 and physical development of our pupils through our academic curriculum, pastoral care, sporting and other activities. We provide an educational environment where each student can realise his or her potential. This helps them to mature into responsible young adults with the confidence and knowledge they need to complete their secondary educatiori and, in many cases, tertiary education in mainstream establishments. Through their time in our schools, they have gained skills and knowledge to undertake and benefit from the opportunities, responsibilities and experiences of adult life. We also seek to instil in them an understanding of the needs of others and a desire to contribute lo the wider community. Moon Hall Schools provide a full curriculum except foreign language. This is enhanced to support our individual pupils with literacy and numeracy. Specialist support is provided in all subjects, thus limiting the amount of disruptive removal from class for one to one tuition. In addition, we have our own in-house Therapy team who are available throughout the week to deliver Therapy sessions to pupils and are also on-hand to support staff with their advice and expertise. The method of in- house Therapy provision is a different model to most provisions for SEN pupils and ultimately is more beneficial for both staff and pupils when compared with the usual model of visiting therapists. The Trust sets high standards for its teachers and expectations for its pupils. An important part of our ethos is that we are a small family school in which all pupils are known to all leaching and support staff. We place great emphasis on the pastoral care and support provided for each of our pupils as we help them mature and learn to take increasing responsibility. In setting our objectives and planning our activities our Governors have given careftjl consideration to 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. The public benefit activities of the Moon Hall Schools Educational Trust consist primarily of the provision of education with expert support for children whose problems with literacy andlor numeracy are such that they have not been or are unlikely to be catered for adequately by Ihe public sector or elsewhere in the private sector. These activities are funded by payments made by parents from their own resources, by local education authorities or from the Trust's own funds by way of bursaries. Page 2

Moon Hall Schools Educational Trust {A Company Llmlted by Guarantee) Trustees, Report (continued) For the Year Ended 31 August 2024 Objectives and activities (continued) The Trust admits dyslexic pupils who are placed with its schools by a local education authority and who meet the other entrance Griteria as to their educational needs and behavioural conduct. In line with our school admissions process, Dyslexia {andl or its associated difficulties} must be the primary need of an individual's making an application. In the year under report, the Trust provided several bursary grants to families thal would othemise not be able to afford full fees. Our key objectives include.. Specialist Teachers All Teachers of English having {or are working towards) an additional qualification in special learning difficulties ISpLDI Many staff have additional qualifications to support Dyslexia land its associated difficulties) INSET training for all on additional support provided by visiting external expertise or using the expertise and additional training of our staff Strengthened SEN department with 3 SENCO'S Outreach and Assessment Centre lead with Masters in SEN and Level 7 qualification. Small class sizes Ensures Teaching staff can implement interventions in real time Pupils are not taken to LS base for support, all support are in the classroom Excellent staff- pupil relationships Class sizes of no more than 14 Pupil Outcomes CAT lesting NGST testing NGRT testing Progress testing Maths and English b. Strategies for achieving objectives Our Governors are responsible for setting a strategy for achieving the objectives they have set. The focus of our strategy is on helping as many dyslexic (and some other) children as we can who hav6 failed to achieve their potential in mainstream education. c. Activities undertaken to achieve objectlves In taking forward our strategy we.. Promote knowledge of and access to information about what we do and have been achieving on our website Review and monitor the progress of our pupils Ensure the range of extra-curricular and co-curricular activities available to our pupils is stimulating and challenging., Continue to invest in the technology infrastructure of our School., Encourage Local Education Authorities to place with us dyslexic children who could benefit from our educational provision when the local schools do not have the skills or resources to provide adequately for them", Page 3

Moon Hall Schools Educational Trust {A Company Limited by Guarantee) Trustees, Report (continued) For the Year Ended 31 August 2024 ObjeGtives and activities (continued) Invest in the development of the school sites and buildings., Invest in the continued professional development and training of staff., Continue with our bursarial policy within our economic ability to do so. We provide a caring school, serving our local community and society. We provide a significant benefit to the public through the pursuit of our stated aims. Our fees are set at a level that seeks to ensure the financial viability of the school consistent with our aim of providing a first class specialist education to boys and girls at an affordable cost. We are confident that our fee levels are not more costly, when all elements of the provision are taken into account, than the provision of similar education would cost the state to provide in its own establishments were it to decide to do so. As it is, there is no state institution that we are aware of which replicates what we provide. Our school welcomes pupils from all backgrounds. To admit a prospective pupil, we need to be satisfied that he or she needs the specialist support which our School can provide and that we will be able to educate and develop them to the best of their potential and in line with the general standards achieved by their peers. Entrance interviews and assessments are undertaken to satisfy ourselves and parents that potential pupils have the relevant needs and can cope with the pace of learning and benefit from the education we provide. We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of colour, race, ethnicity, religion, age, sex, sexual orientation, or disability. We will make reasonable adjustments to meet the needs of staff or pupils who are or become disabled. We are committed to safeguarding and promoting Ihe welfare of our pupils and expeGI all staff and volunteers lo share this commitment. Parents are given regular information about their children's social and academic progress through parent evenings in addition to the traditional end of term and year reports. We maintain regular contact with parents throughout the year through infomal contacts, our parent email, and texting systems and through our weekly bulletin. We have an active School Council with pupil representatives from each class and active Parents, Association. d. Access policy It is important to us that access to the education we offer is not restricted to those who can afford our fees. Our pupils benefit from learning within a diverse community. A great deal of learning occurs through social interaction, conversation and shared experiences which helps our pupils develop an understanding of the perspectives of other people that will be vital in their adult lives. Our Bursary Policy, together with our Local EduGation Authority placed pupils, ensures a wide acGess to the education we offer and the facilities we enjoy. We admit pupils funded by not only our own Local Education Authority but from a number of surrounding ones because of the wide catchment area we have. Our school is a part of a wider community, and we are keen that our staff and pupils participate. Page 4

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Trustees. Report (continued) For the Year Ended 31 August 2024 Objectives and activities (continued) e. Bursary policy The Governors view our Bursary awards as important in helping to ensure children frorn farnilies who would otherwise not be able lo afford the fees can access the education we offer and who for one reason or another may not have been able to obtain support from the Local Education Authority. Our Bursary awards are available to all who rn8et our general entry requirements and are made solely on the basis of family means or to relieve hardship where a pupil's education and future prospects would otherwise be at risk, for example in the case of redundancy. In assessing means we take a number of factors into consideration including family income, investments and savings and family circumstances, for example dependant relatives and the number of siblings. However, our School does not have any endowment and in funding our awards we have to be mindful that we musl ensure a balance between fee paying parents, many of whom make considerable personal sacrifices to fund their child's education and would not be resorting lo the independent sector but for their child's special educational needs, and those benefiting from the awards. Information about fee assistance through Bursaries is available to all applying to the school. Further details of our Bursary policy and how to apply are available on our website. f. Assistance for our staff As part of our emphasis on attracting and retaining high calibre staff, we offer a discount scheme where full time staff members choose lo educate their children at our school. Strategic report Achievements and performance a. Future plans The Governors regularly review and adapt their strategies to a changing and competitive market. While other specialist dyslexia schools provide a broader offering to include a range of other special educational needs, Ihe key to the success at Moon Hall for its dyslexic children has been the focus of attention on their specific needs and talents wilhoul distractions. Moon Hall continues to be a proactive and forward looking specialist school. b. Future planned developments Master Planning Project Roof Replacement Financial review . Going concern After making appropriate enquiries, the Trustee8 have a foreseeable expectation that the school has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Review of financial results The financial statements that follow this report show the Gurrent state of the finances which the Trustees consider to be sound and have been prepared in accordance with the Companies Act 2006. Page 5

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Trustees. Report (continued) For the Year Ended 31 August 2024 Fees paid for the pupils, education make up the most substantial part of the Trust's income and reflect the development of the school. The result for the year is a surplus of £542,272 {2023'. surplus of £679,911). This includes donations totalling £220 (2023.. £810). It also includes non cash expenditure of £258,795 (2023.. £179.9121 as depreciation of buildings, plant, and equipment. ¢. Reserve$ policy The Governors current view on the adequacy of the funds Total funds at the balance sheet dale were unrestricted funds of £4,033,528 12023.. £3,491,256}. Of these £1,971,13412023.' £Nill is held as designated funds. Included within total funds is £3,886,993 {2023'. £3,490,868) of tangible fixed assets. Free reserves of £146,535 {2023.' £388} are calculated as unrestricted funds less amounts tied up in fixed assets. This illustrates the extent of the investment in the fixed assets of the Trust, as is Gommon practice by independent schools which have to finance their own capital investment plans. The General Fund of £4,033,528 {2023'. £3,491.256} represents part of the surpluses achieved since the establishment of the Trust in March 1990. The Trust has net current assets of £1,595,100 which increased from £1,508,964 in the prior year. The Trust is the process of planning works for significant roof, chimney and guttering repairs with estimated costs of £2,000,000. There is also a planned window project in the region of £100,000. Included in designated funds at 31 August 2024 is £1,700,000 allocated towards the roof works. There are designated funds of £271,134 to provide assistance to parents through means tested bursary awards, due to the VAT on fees legislation from January 2025. The overall intention of the Governors is to maintain funds, both restricted and unrestricted, which they consider adequate to ensure the successful operation of the school and this is reviewed regularly. The Trust's long-term debt has increased over past years. Since the purchase in 2005, total borrowing now amounts to £1,419,414 (2023.. £1,486,103). This borrowing was mainly required to fund the new junior school block. The actual freehold value is significantly in excess of ils net book value. Restricted and Unrestricted Funds The accounts make reference to General Funds (unrestricledl and Restricted Funds. Restricted funds are funds held for specific purposes within the objects of the charity. Unrestricted funds are funds held for the general purposes of the charity and for spending at the discretion of the governors. Designated funds are amounts set aside from General Funds for a particular purpose. d. Investments policy There are no restrictions on the Trust's absolute powers of investment. The Board's policy continues to be to place any retained funds on short term bank deposit. Page 6

Moon Hall Schools Educational Trust {A Company Limited by Guarantee) Trustees. Report {continued) For the Year Ended 31 August 2024 Structure, governance and management a. Constitution The Charitable Company is controlled by its Memorandum and Articles of Association. The Governors are tho Trustees and the Directors of the Charitable Company. The Governors who served during the year are listed on page1. Moon Hall Schools Educational Trust was incorporated as Moon Hall School on 26th March 1990 under registered company number 2485159, a company limited by guarantee. It changed its name to Moon Hall Schools Educational Trust on 1st June 2006. It is a registered Charity with registered number 803481. The school is governed by its Memorandum and Articles of Association. The liability of the members is limited lo £1. in the event of the company being wound up whilst they are members or within one year after they cease to be members. Ils primary object is the education of children and in particular dyslexic children. b. Organisational structure and decision-making policies The day to day running of the schools is the responsibility of the Executive Head assisted by the Bursar and their Senior Management Teams. The following Trust sub-committees report to the Board: Finance, Premises (including Health & Safety), HR, Academic and Safeguarding. The Bursar is appointed by the Governors lo manage its finances and reports lo the Chairman of the Board with the Chair of the Finance Committee and provides financial services and support to the Head. The Board of Governors meets al least once each term, as do the sub-committees, or more frequently as necessary. c. Policies adopted for the induction and training of Trustees Currently the Governors comprise all of the Charity's Mernbers. Governors are appointed who have a special interest in helping dyslexic children and who have both time and relevant skills and abilities to help the Charity develop its objectives. New appointments are generally made of people who have already had some involvement with the School and have demonstrated their ability to contribute. Potential Governors are approached by existing Governors and asked if they are willing to assist the Trust. The school may also, from time to time, consider an expression of interest received in response to an advert, when seeking individuals with specific knowledge or expertise in a particular field. The minimum number of Governors is 4 and the maximum number is 10. New Governors are provided with a full briefing and a set of the relevant documents by the Chairman. The Charity subscribes to associations which can provide training for Trustees and Governors and are encouraged to attend courses to enable them to keep abreast of best practice. All Governors are required to undertake regular safeguarding training. d. Pay policy for key management personnel The Governors consider that they, together with the Executive Head, Deputy Head, Assistant Heads, the Bursar and the Head of Operations and Premises comprise the Key Management Personnel (see note 9 to the accounts). The Governors give their time freely and the pay remuneration of the senior staff is set by the Governors HR committee. Financial risk management The Trustees have a duty lo identify and review the risks to which the Trust is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Board keeps the schools, activities under review, particularly with regard lo any major risks Ihat may arise from time to time. and monitors the offectiveness of the system of internal Controls and other viable means, including insurance cover where appropriate, by which those risks already identified by the Governors can best be mitigated. Page 7

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Trustees, Report (continued) For the Year Ended 31 August 2024 Plans for future periods The Trust's vision is to provide education to at least GCSE level that is focused and tailor made to the needs and talents of the individual pupil and lo do so for as many pupils as possible who can benefit from the provision. It remains our goal to become a national centre of educational excellence where we can also.. Provide facilities for training teachers to teach dyslexic children,. Provide a location for educational psychologisls and other professionals to interview children and carry out assessments-, Provide a resource for research into dyslexia and its amelioration. Statement of Trustees. responslbilities The Trustees {who are also the directors of the Charitable Company for the purposes of company law} are responsible for preparing the Trustees, Report, including the Slr8tegic Report, and the financial statements in accordance with applicable law and United Kingdom AcGounling Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Truslees to prepare financial statements for each financial year. Under company law, the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable Company and of its incoming resources and application of resources, including ils income and experidilure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistenlly-, observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) 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 Charitable Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charitable Company's transactions and disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 8

Moon Hall Schools Educational Trust (A Company Limited by Guarantee} Trustees. Report {¢ontinued) For the Year Ended 31 August 2024 statement of Trustees, responsibilities (continued) Disclosure of information to auditors Each of the persons who are Trustees at the time when this Trustees, Report is approved has confirmod that.. so far as that Trustee is aware, there is no relevant audit information of which the Charitable Company's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the Charitable Companls auditors are aware of that information. Auditors The auditors, Kreston Reeves LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a rneeting of the Trustees. Approved by the board of Trustees, approving the Trustees Report, including the Strategic Report contained therein, and signed on their behalf by: A Turner (Chair of Trustees) Date: /7A £z£ Page 9

Moon Hall Schools Educational Trust

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of Moon Hall Schools Educational Trust

Opinion

We have audited the financial statements of Moon Hall Schools Educational Trust (the 'Charitable Company') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Page 10

Moon Hall Schools Educational Trust

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of Moon Hall Schools Educational Trust (continued)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of 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 Trustees' report, including the Strategic report.

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

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.

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Moon Hall Schools Educational Trust

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of Moon Hall Schools Educational Trust (continued)

Auditors' 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 Auditors' 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.

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

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the Charitable Company and sector, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of noncompliance with laws and regulations related to safeguarding, health and safety legislation and employment law. 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, the Charities Statement of Recommended Practice 2019, the Charities Act 2011, and pension legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

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Moon Hall Schools Educational Trust

(A Company Limited by Guarantee)

Independent Auditors' Report to the Members of Moon Hall Schools Educational Trust (continued)

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

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

Graham Hunt BA FCA (Senior Statutory Auditor) for and on behalf of Kreston Reeves LLP

Chartered Accountants Statutory Auditor Horsham

Date: 27 March 2025

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Moon Hall Schools Educatlonal Trust (A Company Limlted by Guarantee) Statement of financial activities {incorporating income and expenditure account) For the Year Ended 31 August 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities - Education Investments 220 5,736,561 52,196 220 5,736,561 52,196 810 5,144,317 16,327 Total income 5,788,977 5,788,977 5,161,454 Expenditure on: Charitable activities 5,246,705 5,246,705 4,481,543 Total expenditure 5,246,705 5,246,705 4,481,543 Net movement In funds 542,272 542,272 679,911 Reconciliation of funds: Total funds brought forward Net movement in funds 16 16 3,491,256 542,272 3,491,256 542,272 2,811,345 679,911 Total funds carrled for￿ard 16 4,033,528 4,033,528 3,491,256 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 17 to 32 form part of these financial statements. Page 14

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Registered number: 02485159 Balance Sheet As at 31 August 2024 2024 2023 Note Fixed assets Intangible assets Tangible assets 12 3,886,993 3,490,868 3,886,997 3,490,872 Current assets Debtors Cash al bank and in hand 13 142,208 2,259,505 192,184 2,118,292 19 2,401,713 2,310,476 Creditors.. amounts falling due within one year 14 {806,613) 1801,5121 Net current assets 1,595,100 1,508,964 Total assets less current liabilities 5,482,097 4,999,836 Creditors.. amounts falling due after more than one year 15 {1,448,569) (1,508,580) Total net assets 4,033,528 3,491,256 Charity funds Restricted funds Unrestricted funds 16 16 4,033,528 3,491,256 Total funds 4,033,528 3,491,256 The financial statements were approved and aLtthorised for issue by the Trustees and signed on their behalf by: A Turner {Chair of Trustees) Date: The notes on pages 17 to 32 form part of these financial statements. Page 15

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Statement of Cash Flows For the Year Ended 31 August 2024 2024 2023 Note Cash flows from operating activities Net cash used in operating activities 18 981,157 945,537 Cash flows from investing activities Interest income received Purchase of tangible fixed assets 52,196 (706,804) 16,327 1529,509} Net cash used in investing activities 1654,608) (513,182) Cash flows from financing activities Repayments of borrowing Loan interest paid {66,689) (118,647) {67,755} {92,843} Net cash used in flnan¢ing activities (185,336) {160,598) Change in cash and cash equlvalents In the year Cash and cash equivalents at the beginning of the year 19 141,213 271,757 1,846,535 2,118,292 Cash and cash equivalents at the end of the year 19 2,259,505 2,118,292 The notes on pages 17 to 32 form part of these financial statements Page 16

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 General information Moon Hall Schools Educational Trust is a Charitable Company limited by guarantee and an exempt charity incorporated in England and Wales. The registered office is Burys Court Flanchford Road, Leigh, Reigate, Surrey, RH2 8RE. The presentation currency is £ sterling. The figures in the financial statements have been rounded to the nearest £1. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102} Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Moon Hall Schools Educational Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless olhemise slated in the relevant accounting policy. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 2.2 Going concern Having reviewed the funding facilitie8 available to the school together with the expected ongoing demand for places and the school's projected cash flows, the Trustees have a reasonable expectation that the school has adequate resources to continue its activities for the foreseeable ftjlure and consider that there were no material uncertainties over the school's financial viability. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 2.3 Income All income is recognised in the Statement of Financial Activities once the Charitable Company has entitlement to the funds, it is probable that the income will be received and the amount of income receivable Can be measured reliably. Income from charilable activities includes school fees receivable, registration fees and fees from ancillary activities. School fees consists of charges billed for the school year ending 31 August, less bursaries and discounts. Fees received for education lo be provided in future years are carried foNard as deferred income. Registration fees are non-refundable fees which are recognised once parenlslguardians have committed for the child to attend the school. Income from ancillary activities is generated from additional activities offered to pupils in the school year ending 31 August. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Bank Interest is recognised on a receivable basis. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the seNice. Page 17

Moon Hall Schools Educational Trust IA Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 Accountlng policies (continued) 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis consistent with the use of resources. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitable Company's objectives, as well as any associated support costs. 2.5 Government grants Government grants are credited to the Statement of Financial Activities as the related expenditure is incurred. 2.6 Taxation The Charitable Company is exempt from corporation tax on its charitable activities. Irrecoverable VAT is included within the relevant expenditure category. 2.7 Intangible assets and amortisation Included in the purchase price of Burys Court School was £7 for intangible assets comprising £1 for each of the following,. goodwill, stocks, deposits, benefit of the contracts, intellectual property rights, the option and pre-emption rights in respect of the Stable Block. The goodwill, stocks and deposits have been written off. Intangible assets are initially recognised at cost. At each reporting date the Charilable Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs lo se11 and its value in use. An impairment loss is recognised where the carrying amount exceeds tho recoverable amount. 2.8 Tangible fixed assets and depreciation Tangible fixed assets costing £2,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. The assets are reviewed annually for impairment. Page 18

Moon Hall Schools Educational Trust (A Company Llmited by Guarantee) Notes to the Financial Statemènts For the Year Ended 31 August 2024 A¢¢ounting policies {continued) 2.8 Tangible fixed assets and depreciation (continued) Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Additions are depreciated for a full year in Ihe year of purchase. Depreciation is provided on the following bases.. Freehold land Freehold property- excluding the junior school Freehold property- junior school- 25 years Plant and machinery 4-10 years Fixtures and fittings over 7 years Computer equipment over 4 years Improvements to property straighl line over 10, 15, 20 or 50 years 50 years Assels under construction are not depreciated. 2.9 Debtors Trade and other debtors are recognis@d at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 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 acquisition or opening of the deposit or similar account. 2.11 Liabilities and provisions LiabiSities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settloment Gan be estimated roliably. Liabilities are recognised at the amount that the Charitable Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.12 Financial instruments The Charitable Company only has financial assets and financial 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. 2.13 Operating leases Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. Page 19

Moon Hall Schools Educational Trust IA Company Limited by Guarantee) Notes to the Financial Statèments For the Year Ended 31 August 2024 A¢¢ounting policies (contlnued) 2.14 Pensions The Charitable Company makes contributions on behalf of employees who have elected to join the Teacher's Pension Scheme ITPS) at rates set by the Scherne Actuary. 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 Charitable Company. The TPS is therefore treated as a defined contribution scheme for accounting purposes and contributions are accounted for when advised as due by the Scheme Administralor. All other eligible employees are enrolled in Smart under the auto-enrolment regulations or have other personal pension providers. All other pensions are defined contribution schemes. All contributions are included in pension costs. 2.15 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the TrLJStees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriat9 fund. Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations 220 220 810 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Net fee income after bursaries - Education 5,736,561 5,736,561 5,144,317 All income from charitable activities in 2023 and 2024 was unrestricted. Deducted from fee income are bursaries paid totalling £56,82612023.. £45,355). Page 20

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 Investments Unrestricted funds 2024 Total funds 2024 Total funds 2023 Bank interest receivable 52,196 52,196 16,327 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Education 5,246,705 5,246,705 4,481,543 Page 21

Moon Hall Schools Educallonal Trust (A Company Limited by Guaranteol Notes to the Financial Statements For the Year Ended 31 August 2024 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Education 5,050,824 195,881 5,246,705 Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Education 4,298,031 183,512 4,481,543 Analysls of direct costs Total funds 2024 Total funds 2023 Education 2024 Staff costs Depreciation Other direct costs 3,352,010 258,795 1,440,019 3,352,010 258,795 1,440,019 2,912,219 179,912 1,205,900 5,050,824 5,050,824 4,298,031 Analysls of support costs Total funds 2024 Total fL+nds 2023 Education 2024 Bank charges and interest payable Other support costs Governance costs 123,925 41.626 30,330 123,925 41,626 30,330 93,738 13,334 76,440 195,881 195,881 183,512 Page 22

Moon Hall Schools Educational Trust {A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 Auditors. remuneration The auditors, remuneration amounts to an auditor fee of £21,480 (2023 £20,064), and other financial services of £3,780 (2023 - £2,700}. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 2,685,635 263,323 403,052 2,376,717 234,606 300,896 3,352,010 2,912,219 The average number of persons employed by the Charitable Company during the year was as follows- 2024 No. 2023 Teachers 36 47 46 33 Administration 83 79 This year, Teaching Assistants and certain other staff members have been reclassified from Teachers to Administration. The number of employees whose employee benefits (excluding employer pension costs} exceeded £60,000 was.. 2024 2023 In the band £60,001- £70,000 In the band £80,001- £90,000 In the band £100,001- £110,000 In the band £120,001- £130,000 During the year pension contributions of £59,689 (2023 - £48,026) were made in respect of higher paid employees. The key management personnel of the Charitable Company comprise of the Executive Head, Deputy Head, Assistant Heads, the Bursar, and the Head of Operations and Premises. The total amount of employee benefits (including employer pension contributions and employer national insurance conlributionsl received by key management personnel for their services to the Trust was £579,721 (2023 £529,193). Page 23

Moon Hall Schools Educational Trust (A Company Llmited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 10. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits12023 £NIL). During the year, no Trustee expenses have been incurred12023- £NIL}. 11. Intangible assets Goodwill Cost At 1 September 2023 At 31 August 2024 Amortisation At 1 September 2023 At 31 August 2024 Net book value At 31 August 2024 At 31 August 2023 Page 24

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Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 13. Debtors 2024 2023 Due within one year Trade debtors Other debtors Prepayments and accrued income 46,385 54,116 41,707 28,300 48,050 115,834 142,208 192.184 14. Creditors.. Amounts falling due within one year 2024 2023 Bank loans Trade creditors Fee deposits held Other creditors Accruals 78,945 135,052 13,000 423,878 138,563 8,100 9,075 76,873 155,943 13,000 365,642 190,054 Amounts owed to group undertaking Deferred income 806,613 801.512 Deferred income represents fees invoiced in advance for the autumn term. 2024 2023 Deferred income at 1 September 2023 Amounts released from previous periods 1,558,513 (1,558,513} Deferred income at 31 August 2024 Page 26

Moon Hall Schools Educational Trust (A Company Lirnited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 15. Creditors.. Amounts falllng due after more than one year 2024 2023 Bank loans Other creditors 1,340,469 108,100 1,409,230 99,350 1,448,569 1,508,580 Included within the above are amounts falling due as follows-. 2024 2023 Between one and two years Bank loans 81,539 79,298 Between two and five years Bank loans 261,725 254,124 Over five years Bank loans 997,205 1,075,808 The bank loans relate to a mortgage held by Barclays Bank PLC up to a maximum of £1,279,525. The loan is fully repayable 25 years from April 2005 consisting of monthly repayments from May 2007. Interest is Gharged on the loan at 1.750/0 over the Barclays Base Rate every quarter. The bank loan is secured with a fixed and floating charge over the assets of the Charitable Company. A second mortgage agreement was entered into with Barclays Bank PLC during the 2022 financial year for a facility amount of £1,061 ,000. The loan is fully repayable 25 years from October 2021, consisting of monthly repayments from November 2021. Interest is charged at the rate per annum equal to the aggregate of the floating rate and a margin of 3.000/0, where the floating rate is defined as the Bank of England Bank Rate. The bank loan is secured with a fixed and floating charge over the assets of the Charitable Company. Page 27

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 16. Statement of funds Statement of funds - current year Balance at 1 September 2023 Balance at 31 August 2024 Transfers inlout Income Expenditure Unrestricted funds Designated funds Bursary Fund Roof Repairs Fund 271,134 1,700,OOQ 271,134 1,700,000 1,971,134 1,971,134 General funds General Fund 3,491,256 5,788,977 (5,246,705) 11,971,134) 2,062,394 Total Unrestricted funds 3,491,256 5,788,977 {5,246,705) 4,033,528 Restricted funds Restricted funds Total of funds 3,491.256 5,788,977 {5,246,705) 4,033,528 Statement of funds - prior year Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure Unrestricted funds General Fund 2,811,345 5,161,454 {4.481,543) 3,491,256 Transfers in the year were made from general funds to two new designated funds. The bursary fund represents amounts set aside to provide bursaries to pupils. The roof repairs fund represents amounts allocated towards the roof repair project which is expected to take place during 2025 and 2026. Page 28

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 17. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 3,886,993 3,886,993 2,401,713 2,401,713 {806,9781 (806,978) (1,448,204) {1,448,204) Total 4,033,528 4,033,528 Analysis of net assets between funds - prior period Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 3,490,868 3,490,868 2,310,476 2,310,476 (801,5121 (801,5121 (1,508,580) {1,508,5801 Total 3.491,256 3,491,256 Page 29

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 18. Reconcillation of net movement in funds to net cash flow from operatlng activities 2024 2023 Net income for the period {as per Statement of Financial Activities) 542,272 879,911 Adjustments for: Depreciation charges Interest payable Bank interest receivable Loss on the sale of fixed assets (IncreasellDecrease in debtors IncreasellDecrease) in creditors 258,795 179,912 118,647 92,843 (52,196> (16,327) 1,000 1,476 100,860 1,221,536 11,779 11,213,814) Net cash provided by operating activities 981,157 945,537 19. Analysis of cash and cash equivalents 2024 2023 Cash in hand 2,259,505 2,118,292 Total cash and cash equlvalents 2,25g,505 2,118,292 20. Analysis of changes in net debt At1 September 2023 Cash flows Other non- cash At31 Changes August 2024 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 2,118,292 (76,873) (1,409,230) 141,213 66,689 2,259,505 (78,945) {1,340,469} {68,7611 68,761 632,189 207,902 840,091 Page 30

Moon Hall Schools Educational Trust (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 21. Contingent liabilities At 31 August 2022, the charitable company commenced the construction of the new junior school. As part of the planning requirements there were strict Building Research Establishment Environmental Assessment Method (BREEAMI standards lo satisfy, however, it is now clear that these criteria were unattainable. Following discussion with Mole Valley District Council, requests have been submitted lo sel aside this condition and as at 31 August 2024, written confirmation of the outcome has not yel been received. The financial implications of this have still not been quantified al the balance sheet date and therefore a provision has still not been accrued in these accounts. 22. Capital commitments The Charitable Company entered into capital comrnitrnents as at 31 August 2024 related to the assets under construction in the sum of £Nil. Capital commitments represent the contractual commitments that the Charitsble Company has not yet recognised as liabilities in the financial statements. 23. Pension commitments Defined contribution pension scheme The Charitable Company operates a defined Gontribution pension scheme. The assets of the scheme are held separately from those of the Charitable Company in an independently administered fund. The pension charge for the year includes contributions payable of £98.071 12023 - £36,706) lo the scheme. At the balance sheet date contributions of £52,214 (2023 - £6,415} were due to the scheme and are included within other creditors. Teachers, pension SGheme The Charitable Company participates in the Teachers, Pension Scheme (England and Wales} (the TPS} for its leaching staff. The TPS is an unfunded multi-employer defined benefits pension scheme governed by the Teachers, Pensions Regulations 2010 and, from 1 April 2014, the Teachers, Pension Scheme Regulations 2014. Members contribute on a "pay as you go" basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is set following scheme valuations undertaken by the Government Actuary Department. The contribution rate for the academic year 2023124 was 23.68 % 12022123.. 23.680/.). The pension charge for the year includes contributions payable of £304,981 12023 £264,190) to the scheme. At the balance sheet date contributions of £22,233 {2023 - £Nil) were due to the scheme and are included within other creditors. Page 31

Moon Hall Schools Educational Trust (A Cornpany Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 August 2024 24. Operating lease commitments At 31 August 2024 the Charitable Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 101,181 212,102 88.402 89,154 313,283 177,556 Operating lease payments totalling £128,62312023 - £97,806) have been recognised as an expense in the Statement of Financial Activities. 25. Members. liabillty Each member of the Charitable Company undertakes to conlribijte to the assets of the Charitable Company in the event of il being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before they cease lo be a member. 26. Related party transactlons The Charitable Company has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the Charitable Company at 31 August 2024 {2023- £Nil). During the year, the children or grandchildren of 312023.. 41 of the Trustees attended the School. None of the children or grandchildren of the Trustees received a bLtrsary. Any applicable sibling discounts and scholarships have been awarded under the usual school criteria. Page 32