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REGISTERED COMPANY NUMBER: SC026589 (Scotland) REGISTERED CHARITY NUMBER: SC05052
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
FOR
WELLINGTON SCHOOL (AYR) LIMITED
WELLINGTON SCHOOL (AYR) LIMITED
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CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
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Report of the Trustees 1 to ll
Report of the Independent Auditors 12 to 14
Statement of Financial Activities 15
Balance Sheet 16
Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19 to 30
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WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
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: REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
ee OBJECTIVES AND ACTIVITIES Objectives and aims The Charity's principal objects reflect the ethos of a modern Independent School in the 21st century:-
"3. The Objects for which the Company is established are:3.1 The advancement of education for the public benefit by: (a) promoting education in all its branches through carrying on and operating Wellington School (the "School") as a co-educational day school for boys and girls from ages 3 to 18 (the "Students"); (b) co-operating with other educational bodies, both public and private, in teacher training; and curriculum development; 3.2 The advancement of citizenship and community development for the public benefit by: (a) promoting volunteering and community involvement amongst the Students; and (b) making the School's facilities available to community organisations when not otherwise required in connection with the School's objects set out in Clause 3.1 above." As a charity, the School is regulated by the Office of the Scottish Charity Regulator (OSCR). Following an OSCR 2014.review, issue of a direction and corrective action by the School, Wellington School passed the Charity Test on 1 May
The School's mission statement seeks to help provide pupils with a basis on which they can lead a successful adult life by: - fulfilling their academic potential; - developing interests which will enrich life at school and beyond; - having a curriculum appropriate to the world of the future; - promoting confidence and high self-esteem; - teaching them to act and think in an independent and resourceful manner; - encouraging a caring attitude towards each other and the wider community and - instilling a sense ofduty and providing opportunities for service to the world at large.
The School endeavours to achieve these aims by providing the best possible learning environment in which young people can thrive, supported by a productive partnership involving themselves, their parents and the staff of the School. The ethos of Wellington School attaches great importance to values and the School is a place that operates on principles of courtesy, tolerance and consideration for others, and where pupils are expected to demonstrate a high standard of behaviour at all times and to treat those around them with respect and kindness. The School is fully committed to the Curriculum for Excellence and to developing pupils who are confident, successful, responsible and effective contributors to society. The Company seeks to make a surplus each year which is entirely re-invested in the School in order to maintain and enhance the educational supply, in its widest form. As well as their duty to maintain investment in the School's fabric, the Directors have endeavoured over recent years, to significantly widen access to the local community by offering bursaries to those in financial need, who may not otherwise be able to give their child an independent schooling. The School is reassured that OSCR has recognised those efforts. Means-tested financial assistance In 2024/25, there were 63 pupils (2023/24 - 61 pupils) in receipt of means-tested assistance representing a total means-tested assistance actual spend of £465,729 (2023/24 - £422,434). This represents 7.1% of School income less restricted funds and donations, of£6,532,508. Bursary awards range from 10% to 100% with 2 pupils receiving 100%. Non means-tested financial assistance Non means-tested assistance is available to siblings in the form of a sibling discount. In total, these awards were made to 99 children and amounted to £88,068 in 2024/25.
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WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: S8C026589)
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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OBJECTIVES AND ACTIVITIES
Volunteers
Members of the Governing Body did not receive any payment for the work they carried out in that capacity for the charity in the year ending 30 June 2025. In addition, a large number ofparents gave their time voluntarily in assisting the School with the supervision of excursions and extra-curricular sporting activities. The WSPTA (Wellington School Parents Association) organizes a range of fund-raising events to support the school's activities.
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
EEE STRATEGIC REPORT Achievements and performance 2024/25 was a relatively positive year for the school, but the financial climate brought new challenges with the introduction of Vat on school fees and increased employment costs. Seeking to balance long term pupils who become senior school leavers, moving onto university, higher education or employment, with new entrants at the lower years in the school is a key challenge across the independent school sector. Recruitment remains steady at the main entry points of P1, P7 and S1 with a small number of pupils joining at other stages as well.
Key elements underpinning the school's achievements include: - - A capable and well-structured Senior Management Team made up of the Head, Deputy Head, Assistant Head (Academic), Assistant Head (Wellbeing), Head ofthe Junior School, Finance Manager and Operations Manager. - Strong pastoral middle management in the form of Heads ofYear, overseen by the Assistant Head (Wellbeing). - Expert curricular leadership through the retention of Heads of Department for individual subjects, ensuring a commitment to the highest academic standards. - Senior School Heads of Department oversee curricular planning throughout the 3-18 school, particularly in Science, Modern Languages and the Expressive subjects. - Objective externally verified tests (CATS) are used at various stages 3-14 to provide baseline data and facilitate progress tracking and curricular planning. The use of this data has been developed significantly in session 2024-25, - A full programme of Parents' Evenings and Information Evenings provide parents with detailed feedback on the progress of their children and regular, timely advice at significant points in the year. - Strategic sessions are provided for parents and pupils regarding Option Choices: $2 for $3/4, S4 for 55, 85 for S6. Personal interviews with senior staff are arranged for each pupil, with their parents, in S2 and S4. - Improved consistency and quality of subject/course specific information for parents from 3-18 has meant parents and pupils are better informed at the time of option choices. - A comprehensive system of departmental review is in place to monitor performance and promote self-evaluation. Heads of Department complete a detailed report on the work of the last session, which is then discussed at a meeting with the Head and the SMT Departmental Link. - The school complies fully with the teacher CPD requirements set out by GTCS and endeavours at all times to model best practice. - Regular additional Junior School INSET sessions take place outwith normal timetable to coordinate and promote good practice. - In-Service Days allow whole school discussion and feedback of good practice 3-18. - The school uses Groupcall Messenger extensively in order to communicate more easily with parents via email, text and Groupcall's own 'Expressions' App. - The Modern Language curriculum gives all pupils tuition in French from P1 and enables all pupils to begin two further languages ( Spanish and Latin) from $1. - There has been significant development in the use of social media and the school has a strong digital marketing presence across a range of channels, including Facebook, Twitter and Instagram. - The school's traditional publication 'The Turret! continues to evolve and there are both Winter and Summer editions. - A strategic plan has been put in place to re-launch the School's FP operations and to re-connect with former pupils.
The Board is aware that the school continues to operate in an extremely challenging economic climate and the school has worked hard to maintain numbers since the downturn in the economy, the Covid-19 pandemic, upward pressure on employment costs and the introduction of VAT on school fees in January 2025. Interest in the School remains steady, however, and there is evidence to confirm the continuing appeal of the school, its staff, ethos and approach On the charitable front the school raised in the region of £42,000 for Blood Cancer UK Charity. Pupils also take part in a wide range of local community activities including musical performances for senior citizens, visiting and performing for nursing home residents and visiting and performing for the local hospice. Moreover, many senior pupils undertake voluntary work in connection with the Duke ofEdinburgh Award Scheme and their own preparation for university. The School considers that it contributes to the public benefit and wider community in many ways. This was recognised by OSCR in its Update Report in 2014, where it referred to "a large number of beneficiaries both within and outwith the School" and that the School's activities in that regard were "regular, scheduled and showa clear commitment by the School to opening up access to the benefit it provides for those who are unable to afford the fees".
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: REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
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Particular examples of the advancement of education through public benefit, through promoting education in all its branches and through co-operating with other educational bodies, include: - Provision of student teacher placements for trainees from University Education faculties; ~ Provision ofprobationer teacher appointments for newly qualified teachers from University Education faculties; - Provision ofwork placement experience visits for pupils from other South Ayrshire schools and colleges; - Regular provision of work placement experiences for trainee teachers linked to our partner school in Germany and through other connections in Europe; - Provision of a high quality Nursery and Woodland Nursery in partnership with South Ayrshire Council, rated as "Very Good' in all categories by the Care Inspectorate in June 2024. - Organisation and delivery of in-service training courses for staff from our own School and other schools (both maintained and independent) and nurseries; - Sharing resources and teaching strategies with colleagues from both independent and maintained schools and nurseries; - Providing examiners, markers, setters and verifiers for SQA examinations; - Provision of staff to develop and support the SQA and National Qualifications in a number of subjects via national Quality Development Teams and Subject Working Groups; - Organising and hosting a programming of specialist Debating and Public Speaking coaching sessions, attended also by pupils from several local South Ayrshire Schools.
The school holds full International School Status, awarded by the British Council in recognition of its wide range of collaborations with schools overseas. Each year, young people from Wellington School and a wide range of partner schoolsScheme. in other countries have the chance to work together on projects supported by UCAPE and the UK's Turing
By virtue of its strong links with schools overseas, the school also provides trainee teachers and students with the chance requirements.to complete work experience placements in Scotland, although this is now more restricted due to post-Brexit visa The School considers that it contributes to (as per amended Object 3.2) "the advancement of citizenship and community anddevelopment for the public benefit by: (a) promoting volunteering and community involvement amongst the Students; (b) making the School's facilities available to community organisations when not otherwise required to in connection with the School's objects set out in clause 3.1 above". It does so in a range ofways that includes: -
- Pupils undertake a wide range of charitable work in the local community, and this is often directly linked to work, extra-curricular activities or fund-raising initiatives here in school. - Pupils contribute directly to conservation work in the local area, in part through their involvement in the John Muir and Duke of Edinburgh Award Schemes. hockey and- The school's archerysport clubs.facilities at Doonside are let at charitable rates to a wide range of organisations, including the local - Provision of the school's minibuses to various local groups and organisations. General - Provision of independent schooling helps to retain and attract mid to high net-worth individuals to the community, to provide the mix required for a healthy local environment and with a consequent injection of funds into the local economy. The School is also a reasonable sized SME in Ayr with over 97 staff directly employed and a further 25 indirectly dependent upon the School, including music instructors and catering staff.
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WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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STRATEGIC REPORT Financial review
Financial position The imposition of VAT from 1 January 2025 presented further challenges for both the school and the wider sector. To ensure school fees remained as affordable as possible after the introduction of VAT, the school revised its payment options for parents, allowing regular fee instalments to be made over 12 months rather than 10. This revision of payment terms resulted in a corresponding year on year increase in debtors at the reporting date, purely due to timing, as shown in Note 1 to the Cash flow statement. This is expected to be a one-off working capital movement, reflecting the new payment practices.
Going forward, indications are that some existing parents will be unable to meet future fees, and the extra cost will be a disincentive to those considering private education for their children in future. That said, interest in future placements from new parents continued albeit, as expected, this was at lower levels than previously observed.
Staff wages have the potential to continue to rise above the rate of inflation, with pension contributions at 26% of teachers’ salaries in the year. The difficult decision to leave the Scottish Teachers Pension Scheme was taken and the school withdrew fully from the scheme from 1 September 2025. There have also been several other staffing changes to ensure costs are effectively managed, and we continue to monitor overheads and seek to deliver operational efficiencies. The school decided not to increase fees by the full VAT rate of 20% from January 2025 but instead passed on 15% of the cost to parents. The remaining 5% was passed to parents from August 2025. The board is very much aware of the current high cost of providing an independent education and seeks to ensure the school is run efficiently so that it is as cost-effective as possible to parents.
The upward revision of payment terms caused a corresponding increase in debtor days as shown in Note 1 of the VatCashflow on fees.Statement. This change was made to ensure school fees remain affordable to parents after the introduction of
Principal funding sources
The main source of income for the charity is through the fee income charged for the provision of education. In the 2024/25 school year, the annual fees charged were increased by an average of 8.5% from 2022/23 (between August and December) a further increase of 15% was imposed from January 2025 due to the introduction of VAT on fees This resulted in the following fee structure:
| Primary 1-2 | £10,370 |
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| Primary3 | £13,230 |
| Primary4 | £15,665 |
| Primary5 | £16,630 |
| Primary 6 | £17,690 |
| Primary7 | £18,670 |
| Senior1-6 | £18,670 |
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WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
eC STRATEGIC REPORT Principal risks and uncertainties The Governing Board, supported by the Headmaster, the Finance Manager, and the Senior Management Team of Deputy Head and Assistant Heads, regularly reviews the Company's activities with particular regard to risks that may arise and to the processes and procedures established to manage or mitigate such risks. Specific internal risks applicable to the operational running of the School are, in the first instance, monitored and reviewed by members of the Senior Management Team, whose policies and application of same are then overseen by the Board.
The Board through its deliberations, assesses the external risks affecting the Company, including financial stability, staffing, acts of God, protection of assets, changing legislation and the effects of a fall in the School roll, amongst others. These matters are dealt with on a frequent basis, in terms of reports and policy papers being regularly submitted by the Senior Management Team and risks considered by the Board. The Board also utilises guidance from the Scottish Council for Independent Schools, the Association of Governing Bodies of Independent Schools and the Office of the Scottish Charity Regulator. It also employs legal advisors on charity law, employment law and health and safety matters and employs specialist insurance brokers,
That said, the Board recognises the following as its key areas of risk:
1 Political/Financial - The UK Government's imposition of VAT on school fees has had a substantial impact on independent schools as the resulting fee payable has become out of reach to many families who currently choose or would have chosen an independent education for their children.
2 Reducing/loss of pupil numbers - The imposition of VAT and the resulting increase in payable fees has inevitably reduced the number of families who can choose independent education. In the short term, pupil retention is likely to be an issue and whilst it is hard to quantify, pupil recruitment in the future will inevitably be more challenging. The Board continues to adopt a prudent approach to financial management and the school will always strive to ensure that it provides a first-class education for all who attend.
3 Increasing staff costs - Staff costs remain the single largest expenditure heading and these continue to rise. As Wellington teachers’ salaries are tied to SNCT national scales, close attention is paid to any national negotiations and decisions regarding pay awards. Similarly, the teaching staff are aligned to the Scottish Teachers Pension Scheme 2015 (replacing the Scottish Teachers Superannuation Scheme) with consequent determination of the employer's contribution rates. The difficult decision was taken to withdraw teaching staff from the Teachers Pension Scheme from 1 September 2025; due to the ongoing costs ofremaining in the scheme. A replacement: defined contribution scheme is now offered. 4 Ageing buildings with high maintenance costs - The age of the school's main buildings is such that there is always the possibility of major repairs being required. To mitigate this risk and to ensure that the quality of accommodation remains high, the school has in place regular maintenance and review schedules (including annual, six-monthly and monthly) in place for all electrical, central heating, fire and security systems. Preventative annual maintenance work schedules are in place for roofs, stonework and windows. Similarly, there is an annual program of painting and decorating, flooring, furniture and IT replace ment and renewal.
Future plans
The Directors are satisfied that, having conducted a comprehensive skills audit and appointed new members and established several core Committees - Finance, Health and Safety, Estates and Bursaries, it has an experienced Board and a set of constitutional documents which are appropriate and relevant to the operation of a modern independent school. In 2024/25, the Directors sought to further strengthen the Board by appointing a further new Trustee who brings additional relevant skills. In doing so, the Company, therefore, intends to continue with the provision of the aims and Wellington.objectives set out earlier in this report and to implement existing Strategies to maintain the ethos and environment at The Directors are delighted that Wellington School holds ‘charitable Status’ and the school remains fully committed to the provision of means tested assistance and ‘not charged for' benefit. The school will continue to follow any subsequent guidance issued by OSCR to demonstrate that it continues to meet the Charity Test. a et a
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WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Wellington School (Ayr) Limited was established as a company limited by guarantee on 11 October 1948 and is governed by the provisions of of its Memorandum and Articles of Association of 1948, as amended in 1966 and 1995, The Board undertook a major review of its constitutional documents in 2009. The Office of the Scottish Charity Regulator (OSCR) approved the changes to the charity's purposes on 24 June 2009. The amended Memorandum and Articles of Association were approved by the board on 8 September 2009. A further minor revision of its Articles of Association was approved by the Board on 13 December 2011 and thereafter approved by OSCR on 16 January 2012. The company has been deemed to have charitable status by H M Revenue and Customs for many years and has remained on the register of the Office of the Scottish Charity Regulator since that body was established by the Act of the Scottish Parliament.
Recruitment and appointment ofgoverning board The Board's constitutional review created a Board which is well placed to reflect modern corporate thinking and address moder day challenges. Key tests of the constitution are:
- The Members of the Company 'shall consist of the Directors and such other members as may be admitted in accordance with the provisions of these Articles (article 2.2). - 'The Company shall have no less than three and no more than fifteen Director’ (article 5.1). ~ ‘Directors will serve in multiples of five-year terms and be eligible for re-election’ (article 5.4). - 'The Directors may from time to time and as required act, or establish an appropriate sub-committee pursuant to 7.7.1 for the purposes of acting, as a Committee of Governors responsible for educational matters at a school operated by the Company’ (article 7.8).
All members of the Governing Body are Directors and Members of the company. The present Directors are as listed and have held office from the date of this report unless otherwise stated. Membership is based on eligibility, personal competence and mix of professional skills which can benefit the Company. While there are no formal criteria as to the make-up of the Board, the Directors endeavour to have some Directors who are current parents, of whom there was one at June 2025, with a further four being past parents None of the Directors received remuneration or other benefit from their work with charity. Any contractual relationship must be disclosed and notes of interests are retained in written form.
The Board has a number of committees to support key aspects of School activity. There are now committees covering - Education, Finance, Estates & Buildings and Bursaries. These are supplemented by a number of School committees which Governors attend including Marketing, Curriculum, Health and Safety.
An indemnity insurance policy is in place for the benefit ofthe Directors.
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WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Headmaster is appointed by the Governors to manage the day to day activities and is considered to be the Chief Executive. For operational purposes, the Headmaster and the Finance Manager have delegated authority, within terms approved by the Governors, to deal with matters arising, including education, finance and employment matters.
Board meetings are well attended and all major decisions are taken by the full Board. The establishment of the various committees has seen those committees make recommendations to the full Board or refer final decisions there for ratification. Matters of principle are determined by the Board, advised by the Headmaster or the committees, with the Headmaster then responsible for implementing these.
The Governors have delegated to the Finance Manager, who is also Company Secretary, the responsibility for keeping proper accounting records, the regular production of management accounts and information and the general safeguarding of the assets of the company.
The Headmaster and Finance Manager are able to consult the Chair of the Board at any time and also receive considerable support from the various Committees and members of the Board throughout the year, allowing them to access their particular skills, as and when required.
Board papers are prepared for each meeting by the Chair, the Headmaster and the Finance Manager and include detailed monthly management accounts to enable the financial position to be closely monitored.
Induction and training of governors
New Govemors are inducted into the workings of the Company at briefing sessions held with the Chair, the Headmaster and the Finance Manager. These sessions cover educational and business matters and a familiarisation with the Company's activities. Governors are issued with extensive background material together with the Independent Schools Council's "Guidelines for Governors" publication. During the year, Governors are invited to meetings organised by the Scottish Council for Independent Schools (SCIS) and the Association of Governing Bodies of Independent Schools (AGBIS). They are also able to access online training sessions with AGBIS. Governors also have the opportunity to meet with governors from other independent schools.
Pay policy for senior staff The School utilises the SNCT salary scales for all teaching staff, including senior teaching staff. The salaries scales are reviewed as part ofnational teacher pay negotiations and generally an inflationary increase is applied.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC026589 (Scotland)
Registered Charity number SC05052
Registered office Carleton Turrets 1 Craigweil Road Ayr KA7 2XH
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WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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Trustees
Mrs F Ablett (resigned 2/12/25) GM Andrew PJ Lorimer DL, MA, DipA, ARIAS, RI BA, FSA (Scot) Mrs J EM Simpson A Wilson T Steele Reverend F R Aitken Lady M C Hunter Blair L Wilson (resigned 10/9/24) J Grover-Minto D C Kennedy FCIBS KD Gilius S Blair (appointed 5/11/24)
S J Keith (appointed 9/9/25) A Borthwick (appointed 13/1/26) C Smith (appointed 13/1/26)
Company Secretary
L Peters
Senior Statutory Auditor Alistair Campbell
Auditors Galbraith Pritchards Chartered Accountants & Statutory Auditor 20 Barns Street Ayr Ayrshire KA7 1XA Bankers Bank of Scotland 123 High Street Ayr KA7 1QP Solicitors Black Hay 5 Wellington Square AYR KA7 1EN
Senior Management ChiefExecutive Mr S P Johnson MA (Cantab)
STATEMENT OF TRUSTEES' RESPONSIBILITIES The trustees (who are also the directors of Wellington School (Ayr) Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025
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STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the trustees must 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 the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial Statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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- observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities,
In so far as the trustees are aware:
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there is no relevant audit information ofwhich the charitable company's auditors are unaware; and
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- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware ofthat information.
AUDITORS
The auditors, Galbraith Pritchards, will be proposed for re-appointment at the forthcoming Annual General Meeting. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on... arch, ACR and signed on the board's behalf by:
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF WELLINGTON SCHOOL (AYR) LIMITED eee
Opinion
We have audited the financial statements of Wellington School (Ayr) Limited (the ‘charitable company’) for the year ended 30 June 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’.
In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 30 June 2025 and of its incoming resources and application ofresources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financialand Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, - have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may Cast significant doubt on the charitable company's ability to continue as a going concer 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 Tespect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form ofassurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial Statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement ofthis 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: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report ofthe Trustees has been prepared in accordance with applicable legal requirements.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF . WELLINGTON SCHOOL (AYR) LIMITED — eee eeeseeSSsSsSO—sSsSFs
Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
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We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion: - adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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- the financial statements are not in agreement with the accounting records and returns; or - certain disclosures oftrustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit,
Responsibilities of trustees
As explained more fully in the Statement of Trustees’ Responsibilities, the trustees 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 whethertrustees determine due to fraudis or necessary error. to enable the preparation of financial statements that are free from material misstatement, In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern, basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the sector in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial Statement disclosures to underlying supporting documentation and, enquiries with management. There are inherent limitations in the audit Procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence ofbias by the directors that represented a risk ofmaterial misstatement due to fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting IndependentCouncil's website Auditors.at www.frc.org.uk/auditorsresponsibilities, This description forms part of our Report of the
a _ Page 13
;
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF WELLINGTON SCHOOL (AYR) LIMITED
— eeeeeeeeeeeSFSmshse Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and the trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Alistair Campbell (Senior Statutory Auditor) for and on behalf of Galbraith Pritchards Chartered Accountants & Statutory Auditor Eligible to act as an auditor in terms of Section 1212 ofthe Companies Act 2006 20 Barns Street Ayr Ayrshire KA7 1XA
Date: wid & Parch 2026
a Page 14
WELLINGTON SCHOOL (AYR) LIMITED
:
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2025
==> picture [465 x 398] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|le|eeeeeeSFSsFSSSSsSseF|
|30/6/25|30/6/24|
|Unrestricted|Restricted|Total|Total|
|Notes|funds|funds|funds|funds|
|INCOME AND ENDOWMENTS FROM|£|£|£|£|
|Charitable activities|4|
|Provision of|educational services|6,532,508|-|6,532,508|6,558,854|
|Turing grant|-|33,588|33,588|177,203|
|Other trading|activities|2|-|-|
|Investment|-|28,824|
|income|3|17,096|-|17,096|12,897|
|Total|6,549,604|33,588|6,583,192|6,777,778|
|EXPENDITURE ON|
|Raising funds|5|-|-|-|18,321|
|Charitable|activities|6|
|Provision ofeducational services|6,609,488|-|6,609,488|6,553,195|
|Support costs|36,072|-|36,072|26,456|
|Turing grant|-|26,888|26,888|74,556|
|Total|6,645,560|26,888|6,672,448|6,672,528|
|NET INCOME/(EXPENDITURE)|(95,956)|6,700|(89,256)|105,250|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|3,973,041|240,579|4,213,620|4,108,370|
|TOTAL FUNDS CARRIED FORWARD|3,877,085|247,279|4,124,364|4,213,620|
----- End of picture text -----
The notes form part of these financial statements 0a
:
WELLINGTON SCHOOL (AYR) LIMITED (REGISTERED NUMBER: SC026589)
BALANCE SHEET
30 JUNE 2025
==> picture [465 x 405] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|eee|
|Unrestricted|30/6/25|30/6/24|
|funds|Restricted|Total|Total|
|Notes|funds|funds|funds|
|FIXED ASSETS|£|£|£|£|
|Tangible assets|12|2,914,110|-|2,914,110|3,010,591|
|CURRENT ASSETS|
|Stocks|13|20,000|-|20,000|20,000|
|Debtors|14|741,011|-|741,011|215,017|
|Cash at bank and in hand|1,358,463|247,279|1,605,742|2,147,772|
|2,119,474|247,279|2,366,753|2,382,789|
|CREDITORS|
|Amounts falling due within one year|15|(1,096,899)|-|(1,096,899 )|(1,119,560)|
|NET CURRENT ASSETS|1,022,575|247,279|1,269,854|1,263,229|
|TOTAL ASSETS LESS CURRENT|
|LIABILITIES|3,936,685|247,279|4,183,964|4,273,820|
|CREDITORS|
|Amounts falling due after more than one year|16|(59,600)|-|(59,600)|(60,200)|
|NET ASSETS|3,877,085|247,279|4,124,364|4,213,620|
|FUNDS|18|
|Unrestricted funds|3,877,085|3,973,041|
|Restricted funds|247,279|240,579|
|TOTAL FUNDS|4,124,364|4,213,620|
----- End of picture text -----
The financial statements were approved by the Board of Trustees and authorised for issue on 4... Hacc, 2226 | and were signed on its behalfby:
==> picture [93 x 45] intentionally omitted <==
----- Start of picture text -----
f\ %
JEM $impson - Trustee
----- End of picture text -----
GM Andrew - Trustee___——
The notes form part of these financial statements
eee
,
WELLINGTON SCHOOL (AYR) LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2025
==> picture [462 x 280] intentionally omitted <==
----- Start of picture text -----
|||||
|---|---|---|---|
|ee|
|Notes|30/6/25£|30/6/24£|
|Cash flows from operating|activities|
|Cash generated from operations|1|(526,135)|685,162|
|Net cash (used in)/provided by operating activities|(526,135)|685,162|
|Cash flows from investing|activities|
|Purchase of|tangible fixed assets|(32,991)|-|
|Interest received|17,096|12,897|
|Net cash (used in)/provided by investing activities|(15,895)|12,897|
|Change in cash and cash equivalents|in|
|the reporting period|(542,030)|698,059|
|Cash and cash|equivalents|at the|
|beginning of|the reporting period|2,147,772|1,449,713|
|Cash and cash|equivalents|at the end of|
|the reporting period|1,605,742|2,147,772|
----- End of picture text -----
The notes form part ofthese financial statements
oo eS
Page 17
WELLINGTON SCHOOL (AYR) LIMITED
,
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2025
==> picture [458 x 170] intentionally omitted <==
----- Start of picture text -----
|||||
|---|---|---|---|
|eS|
|1.|RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM|
|OPERATING|ACTIVITIES|
|30/6/25|30/6/24|
|Net|£|£|
|(expenditure)/income|for the reporting period|(as per the|
|Statement of|Financial Activities)|(89,256)|105,250|
|Adjustments|for:|
|Depreciation charges|129,472|162,549|
|Interest received|(17,096)|(12,897)|
|(Increase)/decrease|in debtors|(525,994)|28,835|
|(Decrease)/increase|in creditors|(23,261)|401,425|
|Net cash (used in)/provided by operations|(526,135)|685,162|
----- End of picture text -----
==> picture [446 x 117] intentionally omitted <==
----- Start of picture text -----
|||||
|---|---|---|---|
|2.|ANALYSIS OF CHANGES IN NET FUNDS|
|At|1/7/24|Cash flow|At 30/6/25|
|Net cash|£|£|£|
|Cash at bank and in hand|2,147,772|(542,030)|1,605,742|
|2,147,772|(542,030)|1,605,742|
|Total|2,147,772|(542,030)|1,605,742|
----- End of picture text -----
The notes form part of these financial statements
a Page 18
:
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
WELLINGTON SCHOOL (AYR) LIMITED
ee 1, ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
PREPARATION OF THE FINANCIAL STATEMENTS ON A GOING CONCERN BASIS After reviewing the School's forecasts and projection's for at least 12 months after the date of approving the financial statements, the Trustees have a reasonable expectation that the School has adequate resources to continue in operational existence. They are satisfied that it is appropriate to prepare the accounts on the going concern basis of accounting and that there are no material uncertainties, The Trustees are satisfied that adequate resources will be available through future cash flows to meet liabilities as they fall due
Critical accounting judgements and key sources of estimation uncertainty In the application of the company's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.The following specific policies are applied to particular categories of income:
Incoming resources from charitable activities are accounted for when earned.
bursaries.Fees receivable are accounted for in the period in which the service is provided. Fees are stated before deducting
Investment income is included when receivable.
Income from grants is recognised when the School has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources, Irrecoverable value added tax is charged as a cost against the activity for which the expenditure was incurred.
aaa as eee ee Page 19 continued...
WELLINGTON SCHOOL (AYR) LIMITED
FORNOTES THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS 2025 - continued
SSerrr
- ACCOUNTING POLICIES - continued Allocation and apportionment of costs All costs are allocated between the expenditure categories of the statement of financial activities account on a direct basis or a fair and reasonable apportionment designed to reflect the use of the resource.
Tangible fixed assets life.Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
Freehold property - 2% on cost or valuation Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance Office and computer equipment - 20% on cost
No depreciation is provided on freehold land and other tangible fixed assets in the course ofconstruction. Individual assets costing £5,000 or more are capitalised.
A review of impairment is carried out at each reporting date. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Impairment losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account.
Stocks Stocks of textbooks and other consumable materials represent the cost of department requisitions purchased during the previous year after due allowance has been made for obsolete and slow moving items. The trustees balancebelieve sheetthat thedate,resulting figure fairly values the stock at the lower of cost and net realisable value as at the Taxation Wellington School (Ayr) Limited has been approved as a charity by HM Revenue and Customs and charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds are those available to be expended in achieving the general objects of Wellington School (Ayr) Limited at the discretion ofthe trustees. appeal.Restricted funds are those received subject to restrictions placed by the donor, or by the wording of a particular Wellington School (Ayr) Limited had restricted funds at 30 June 2025 relating to the Turing Fund and the Montgomerie Bursary Fund. Pension costs and other post-retirement benefits The School contributes to the Scottish Teachers Superannuation Scheme for its teaching employees.
The scheme is a multi employer scheme and it is not possible to identify the assets and liabilities which are scheme.attributable to the School. In accordance with FRS 102 therefore it is accounted for as a defined contribution
The School also has a stakeholder scheme for the administration staffwhich is a defined contribution scheme.
.
WELLINGTON SCHOOL (AYR) LIMITED
FORNOTES THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS2025 - continued
——————$———es 1. ACCOUNTING POLICIES - continued
FINANCIAL INSTRUMENTS
The 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
DEBTORS
Trade and other debtors are recognised at the settlement amount due.
CASH AND BANK
Cash in bank and in hand includes cash and short term highly liquid investments with a short term maturity of three months or less from the date of acquisition or opening ofthe deposit or similar account.
CREDITORS AND PROVISIONS
Creditors and provisions are recognised when the Company has an obligation at the balance sheet date as a result canof a be past reliably event, estimated.it is probable that an outflow ofeconomic benefits will be required in settlement and the amount
- OTHER TRADING ACTIVITIES
==> picture [448 x 266] intentionally omitted <==
----- Start of picture text -----
||||||
|---|---|---|---|---|
|30/6/25|30/6/24|
|Centenary|[events]|£|£|
|-|28,824|
|3.|INVESTMENT INCOME|
|30/6/25|30/6/24|
|Investment|£|£|
|income|17,096|12,897|
|4.|INCOME FROM CHARITABLE ACTIVITIES|
|Activity|30/6/25|30/6/24|
|School|£|£|
|Grants|fees and extras|Provision ofeducational services|6,532,508|6,558,854|
|Turing grant|33,588|177,203|
|6,566,096|6,736,057|
|Grants received,|included in the above,|are as follows:|
|30/6/25|30/6/24|
|;|E£|£|
|Turing grant|33,588|177,203|
----- End of picture text -----
NOTESFOR THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS 2025 - continued
WELLINGTON SCHOOL (AYR) LIMITED
==> picture [463 x 626] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|ee|
|5.|RAISING FUNDS|
|Raising donations and legacies|
|30/6/25|30/6/24|
|Centenary|[event]|[costs]|£|£|
|-|18,321|
|6.|CHARITABLE ACTIVITIES COSTS|
|Support|
|Direct|costs|(see|
|Costs|note|7)|Totals|
|Provision|£|£|£|
|Support|[costs]|of|educational services|5,042,946|1,566,542|6,609,488|
|Turing|-|36,072|36,072|
|grant|26,376|512|26,888|
|5,069,322|1,603,126|6,672,448|
|7.|SUPPORT COSTS|
|Management|Governance|
|£|Finance|costs|Totals|
|Provision|£|£|£|
|TuringSupport|[costs]|ofeducational services|1,559,151-|6,311-|36,0721,080|1,566,54236,072|
|grant|512|-|-|512|
|1,559,663|6,311|37,152|1,603,126|
|Support costs,|included in the above,|are as|follows:|
|Management|
|30/6/25|30/6/24|
|Provision|
|of|
|educational|Turing|Total|Total|
|services|grant|activities|activities|
|Wages|£|£|£|£|
|Social|522,668|-|522,668|503,523|
|security|49,742|-|49,742|43,296|
|Pensions|28,572|-|28,572|21,861|
|Rent, rates and water charges|133,901|-|133,901|126,789|
|Insurance|54,927|-|54,927|53,506|
|Light and heat|107,355|-|107,355|96,120|
|Telephone|7,777|-|7,777|8,037|
|Sundry expenses|16,186|512|16,698|24,037|
|Staff|training|9,725|-|9,725|5,993|
|Maintenance ofplaying fields|43,306|-|43,306|39,500|
|Repairs and maintenance|242,411|-|242,411|224,524|
|Laundry and cleaning|133,717|-|133,717|144,486|
|Carried forward|1,350,287|512|1,350,799|1,291,672|
----- End of picture text -----
a Page 22
continued...
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 JUNE 2025
WELLINGTON SCHOOL (AYR) LIMITED
eee
- SUPPORT COSTS- continued Management - continued
| 30/6/25 | 30/6/24 | |||
|---|---|---|---|---|
| Provision | ||||
| of | ||||
| Brought forward Security costs Printing,postage&stationery Advertising Minibusrunningcosts Travelexpenses Accountancy fees Subscriptions Baddebts (recovery)/charge Nonrecoverablevatexpense Depreciationoftangibleandheritageassets |
educational services £ 1,350,287 11,136 7,142 15,528 24,117 1,278 6,264 15,215 15,326 (16,614) 129,472 |
Turing grant £ $12 - - - - - - - - - - |
Total activities £ 1,350,799 11,136 7,142 15,528 24,117 1,278 6,264 15,215 15,326 (16,614) 129,472 |
Total activities £ 1,291,672 7,742 9,983 25,774 18,621 1,126 6,461 25,076 (1,297) - 162,549 |
| 1,559,151 | §12 | 1,559,663 | 1,547,707 | |
| Finance | ||||
| 30/6/25 | 30/6/24 | |||
| Provision | ||||
| of | ||||
| educational | Total | |||
| services | activities | |||
| Bankcharges | £ 6,311 |
£ 5,434 |
||
| Governance costs | ||||
| 30/6/25 | 30/6/24 | |||
| Provision | ||||
| of | ||||
| Auditors’ remuneration Legalandprofessionalfees |
educational services £ 1,080 - |
Support costs £ 3,040 33,032 |
Total activities £ 4,120 33,032 |
Total activities £ 5,520 20,936 |
| 1,080 | 36,072 | 37,152 | 26,456 |
aera a —
Page 23
continued...
WELLINGTON SCHOOL (AYR) LIMITED
NOTESFOR THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS 2025 - continued
eee
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
==> picture [418 x 44] intentionally omitted <==
----- Start of picture text -----
|||||
|---|---|---|---|
|30/6/25|30/6/24|
|Auditors’|£|£|
|remuneration|4,120|5,520|
|Depreciation|- owned assets|129,472|162,549|
----- End of picture text -----
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.
- STAFF COSTS
==> picture [417 x 77] intentionally omitted <==
----- Start of picture text -----
|||||
|---|---|---|---|
|30/6/25|30/6/24|
|Wages|£|£|
|Social|and salaries|3,620,876|3,618,996|
|Other|security costs|382,620|372,480|
|pension costs|764,591|694,236|
|4,768,087|4,685,712|
----- End of picture text -----
The average monthly number ofemployees during the year was as follows:
==> picture [415 x 65] intentionally omitted <==
----- Start of picture text -----
||||
|---|---|---|
|Teaching|30/6/25|30/6/24|
|staff|81|83|
|Administration|12|11|
|Janitors and domestic|4|6|
|97|100|
----- End of picture text -----
The number ofemployees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
==> picture [416 x 77] intentionally omitted <==
----- Start of picture text -----
||||||
|---|---|---|---|---|
|£60,001|-|£70,000|30/6/25|30/6/24|
|£80,001£70,001|- £80,000|3-|21|
|100,000|- £90,000|1|1|
|-|110,000|1|1|
|5|5|
----- End of picture text -----
The School considers its key management personnel to be the Headmaster, the Head of the Junior School, the Finance Officer, the Deputy Head, the two Assistant Heads and the Operations Manager.The total employment benefits£646,213).including employer pension contributions of the key management personnel were £685,350 (2024:
,
FORNOTES THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS2025 - continued
WELLINGTON SCHOOL (AYR) LIMITED
eee
- STAFF COSTS- continued
The company provides pensions for its teaching employees through contributions to the Scottish Teachers Superannuation Scheme (STSS).
The STSS is a group scheme covering teachers and related occupations and is the responsibility of the Scottish Public Pensions Agency, and is maintained separately of the company's finances.
The fund is a defined benefit scheme which was established to enable a number of autonomous but related employers to operate a pension scheme through the sharing of risk within a wider membership base. As such it is not possible to identify the assets and liabilities which are attributable to the company. In accordance with FRS 102 therefore it is accounted for as a defined contribution scheme.
The pension cost charge represents contributions payable by the company to the fund and amounted to £736,019 (2024 - £672,375).
The company has a stakeholder scheme for the administration staff which is a defined contribution scheme,
Duringscheme.the year ended 30 June 2025 contributions amounting to £28,572 (2024 - £21,861) were paid into his
- COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
==> picture [429 x 337] intentionally omitted <==
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|INCOME AND ENDOWMENTS FROM|£|£|£|
|Charitable|activities|
|Provision of|educational services|6,558,854|~|6,558,854|
|Turing grant|
|-|177,203|177,203|
|Other trading activities|28,824|-|28,824|
|Investment income|10,100|2,797|12,897|
|Total|6,597,778|180,000|6,777,778|
|EXPENDITURE ON|
|Raising funds|18,321|-|18,321|
|Charitable|activities|
|Provision ofeducational services|6,541,297|11,898|6,553,195|
|TuringSupport grant costs|26,456|-|26,456|
|-|74,556|74,556|
|Total|6,586,074|86,454|6,672,528|
|NET INCOME|11,704|93,546|105,250|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|3,961,337|147,033|4,108,370|
----- End of picture text -----
,
FORNOTES THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS 2025 - continued
WELLINGTON SCHOOL (AYR) LIMITED
eee
|11.||COMPARATIVESFORTHESTATEMENT|STATEMENTOF|OFFINANCIALACTIVITIES|ACTIVITIES-
Unrestricted
funds|continued
Restricted
funds|Total
funds|
|---|---|---|---|---|---|---|
|||||£|£|£|
||TOTALFUNDS CARRIEDFORWARD|||3,973,041|240,579|4,213,620|
|12.|TANGIBLEFIXEDASSETS||||||
||||||Office||
||COST|Freehold
property
£|Fixtures
and
fittings
£|Motor
vehicles
£|and
computer
equipment
£|Totals
£|
||At I July2024
Additions|4,505,107
-|662,331
15,297|-
17,694|205,608
-|5,373,046
32,991|
||At30June2025|4,505,107|677,628|17,694|205,608|5,406,037|
||DEPRECIATION||||||
||At 1 July2024
Chargeforyear|1,596,118
90,102|568,358
27,317|-
4,424|197,979
7,629|2,362,455
129,472|
||At30June2025|1,686,220|595,675|4,424|205,608|2,491,927|
||NETBOOKVALUE||||||
||At30June2025|2,818,887|81,953|13,270|-|2,914,110|
||At30June2024|2,908,989|93,973|-|7,629|3,010,591|
Included in cost or valuation of land and buildings is freehold land of £190,000 (2024 - £190,000) which is not depreciated.
13. STOCKS
| 30/6/25 | 30/6/24 | ||
|---|---|---|---|
| Text books&otherconsumablematerials |
£ 20,000 |
£ 20,000 |
|
| 14. | DEBTORS:AMOUNTSFALLINGDUEWITHINONEYEAR | ||
| 30/6/25 | 30/6/24 | ||
| Trade debtors Prepayments |
£ 603,016 137,995 |
£ 75,062 139,955 |
|
| 741,011 | 215,017 |
:
WELLINGTON SCHOOL (AYR) LIMITED
FORNOTES THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS2025 - continued
ee
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|---|---|---|---|
|15.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|
|30/6/25|30/6/24|
|Trade|£|£|
|Social|creditors|127,330|134,568|
|VAT|security and other taxes|102,763|90,467|
|Accruals|342,514|-|
|and deferred income|524,292|894,525|
|1,096,899|1,119,560|
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Deferred income of £44,588 (2024: £388,546) is also included in creditors. This represents school fees paid in advance spanning more than one academic year.
16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Parents' deposits
30/6/25 30/6/24 £ £ 59,600 60,200
- LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
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|---|---|---|
|30/6/25|30/6/24|
|Within|£|£|
|one year|51,390|51,390|
|Between one and five years|54,178|105,568|
|105,568|156,958|
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18. MOVEMENT IN FUNDS
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|---|---|---|---|---|
|Net|
|movement|At|
|At|1/7/24|in funds|30/6/25|
|Unrestricted|funds|£|£|£|
|General Fund|3,973,041|(95,956)|3,877,085|
|Restricted|funds|
|Turing Fund|144,032|7,212|151,244|
|Montgomerie Bursary|96,547|(512)|96,035|
|240,579|6,700|247,279|
|TOTAL FUNDS|4,213,620|(89,256)|4,124,364|
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WELLINGTON SCHOOL (AYR) LIMITED
:
FORNOTES THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS2025 - continued
eee
18. ©MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
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|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|Unrestricted|funds|£|£|£|
|General Fund|6,549,604|(6,645,560)|(95,956)|
|Restricted funds|
|Turing Fund|33,588|(26,376)|7,212|
|Montgomerie Bursary|-|(512)|(512)|
|33,588|(26,888|)|6,700|
|TOTAL FUNDS|6,583,192|(6,672,448|)|(89,256)|
|Comparatives|for movement in|funds|
|Net|
|movement|At|
|At|1/7/23|in funds|30/6/24|
|Unrestricted|funds|£|£|£|
|General Fund|3,961,337|11,704|3,973,041|
|Restricted funds|
|Turing Fund|53,283|90,749|144,032|
|Montgomerie Bursary|93,750|2,797|96,547|
|147,033|93,546|240,579|
|TOTAL FUNDS|4,108,370|105,250|4,213,620|
|Comparative net movement in funds, included in the above are as follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|Unrestricted|funds|£|£|£|
|General Fund|6,597,778|(6,586,074 )|11,704|
|Restricted funds|
|Turing Fund|177,203|(86,454)|90,749|
|Montgomerie Bursary|2,797|-|2,797|
|180,000|(86,454)|93,546|
|TOTAL FUNDS|6,777,778|(6,672,528 )|105,250|
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WELLINGTON SCHOOL (AYR) LIMITED
.
FORNOTES THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS2025 - continued
ee
18. MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined position is as follows:
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|---|---|---|---|---|
|Net|
|movement|At|
|At|1/7/23|in funds|30/6/25|
|Unrestricted|funds|£|£|£|
|General Fund|3,961,337|(84,252)|3,877,085|
|Restricted|funds|
|Turing Fund|53,283|97,961|151,244|
|Montgomerie Bursary|93,750|2,285|96,035|
|147,033|100,246|247,279|
|TOTAL FUNDS|4,108,370|15,994|4,124,364|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
|A current|year|12 months|and prior|year|12|months|combined|net movement|in funds,|included|in the above|are|
|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|Unrestricted|funds|£|£|£|
|General Fund|13,147,382|(13,231,634 )|(84,252)|
|Restricted|funds|
|Turing Fund|210,791|(112,830)|97,961|
|Montgomerie Bursary|2,797|(512)|2,285|
|213,588|(113,342)|100,246|
|TOTAL FUNDS FUNDS|13,360,970|(13,344,976)|15,994|
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TOTAL FUNDS FUNDS
Restricted funds represent the following:
Turing Fund - The Turing Scheme offers education providers the opportunity to apply for funding to support their students with study and work placements around the world.
needs.Montgomerie Bursay - This relates to a donation received to assist with the education of children with special
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FORNOTES THE TO YEAR THE FINANCIAL ENDED 30 JUNE STATEMENTS2025 - continued
WELLINGTON SCHOOL (AYR) LIMITED
TTSSS
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2025.
20. |ULTIMATE CONTROLLING PARTY
In the opinion ofthe Trustees, there is no ultimate controlling party.
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