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REGISTERED COMPANY NUMBER: 01270675 (England and Wales)

REGISTERED CHARITY NUMBER: 505630

| REPORT OF THE TRUSTEES AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31ST AUGUST 2025 |

| FOR |

| RICHMOND HOUSE SCHOOL |

RICHMOND HOUSE SCHOOL

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

| Page |

Reference and Administrative Details | 1 |  | to |  | 2

Report of the Trustees | 3 |  | to |  | 11

Statement of Trustees' Responsibilities | 12 |

Report of the Independent Auditors | 13 |  | to |  | 16

Statement of Financial Activities | 17 |

Balance Sheet | 18 |

Cash Flow Statement | 19 |

Notes to the Cash Flow Statement | 20 |

Notes to the Financial Statements | 21 |  | to |  | 32

RICHMOND HOUSE SCHOOL

REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31ST AUGUST 2025

| TRUSTEES | P J Fox

| Dr E Moran

| A West

| G P Woods

| D Milner

| I J Townend

| H Handy

| H A Kemp

| E Chuntharpursat-Bon

| C A Shields

| S Middleton

| REGISTERED OFFICE | 170 Otley Road

| Leeds

| LS16 5LG

| REGISTERED COMPANY NUMBER | 01270675 (England and Wales)

| REGISTERED CHARITY NUMBER | 505630

| AUDITORS | Thomas Coombs Limited

| Statutory Auditor

| Chartered Accountants

| 3365 The Pentagon

| Century Way

| Thorpe Park

| Leeds

| West Yorkshire

| LS15 8ZB

| BANKERS | National Westminster Bank plc

| 8 Park Row

| Leeds

| West Yorkshire

| LS1 5HD

| BANKERS | Lloyds Bank plc

| 65-68 Briggate

| Leeds

| West Yorkshire

| LS1 6LH

RICHMOND HOUSE SCHOOL

REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31ST AUGUST 2025

| SOLICITORS | Clarion Solicitors Limited

| Elizabeth House

| 13-19 Queen Street

| Leeds

| LS1 2TW

| Wrigleys Solicitors

| 3rd Floor, 3 Wellington Place

| Leeds

| LS1 4AP

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

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 31st August 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).

OBJECTIVES AND ACTIVITIES

Objectives of the Charity

The objectives of the School as detailed in the Memorandum of Association are to advance education and training by the provision and conduct, in the United Kingdom of any boarding and/or day school or schools including nursery and childcare provision for the education of children; and insofar as it is incidental or ancillary to the advancement of education, such other purposes for the benefit of the local community as shall be exclusively charitable.

The Memorandum of Association was updated in May 2024.

Principal activity

The Charity's principal activity is the operation of Richmond House School, a day school in Far Headingley, Leeds. The School is registered as a charitable organisation. The main areas of the charitable activity are the provision and advancement of education and training.

Strategy and Objectives

Vision

Where children are happy to learn.

Mission

To provide an outstanding education that realises the unique potential of every pupil, whilst ensuring the very best pastoral care.

Values

Participation |  | actively engage in all opportunities presented, explore new interests and embrace challenges. |

Enjoyment |  | adopt a positive mindset, approach things with a smile on your face and aim to bring out the best in others. |

Achievement |  | work towards being the best version of yourself, recognising and celebrating not only your own accomplishments but also those of others. |

Kindness |  | consider the feelings of others, be polite, respectful and honest and extend a hand to those in need. |

Strategic Objectives

Richmond House School aims to be the school of choice in Leeds for pupils aged 2 to 11, and to provide an education worth paying for.

We will do this by achieving these strategic goals:

- Providing a safe, secure and inclusive environment where all pupils are heard. All pupils will be equipped with the skills to develop resilience and deal with challenges they may face.

- Providing excellent teaching in small classes by committed and specialist staff. The individual needs of pupils will be met.

- Providing a breadth of enrichment opportunities to help each pupil build their confidence, achieve their full potential and prepare for their senior school of choice and their life beyond.

- Engaging with the wider community through local partnerships and identifying opportunities for pupils to develop a sense of social responsibility.

- Using all our resources effectively to ensure long-term financial stability, to reduce our carbon footprint and maintain the heritage of Richmond House School

- Being an employer of choice where all staff are valued and where all staff value working at Richmond House.

In addition, as a charitable Independent School supporting public benefit objectives, the aim is to provide opportunities for those children of lower income or otherwise disadvantaged families who would otherwise be unable to access these facilities, and provide facilities for the benefit of third parties and the local community.

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

OBJECTIVES AND ACTIVITIES

Public benefit

In the furtherance of the objects of the Charity the Directors, as Trustees, have complied with the duty in S.4 of the Charities Act 2011.This is to have due regard for the Charity Commission's published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirement.

Richmond House School encourages pupils to consider their place in the wider community, to develop a strong sense of social responsibility, and to support those less fortunate than themselves. These aims are achieved through many avenues: within the curriculum, through expected behaviours and pupils participating in charity fundraising events to benefit local, national and global charities.

The School's facilities are used by local community groups, external organisations and sports teams at subsidised rates. In 2024/25,Richmond House acted as the "home ground" for sports clubs such as girls and boys football clubs, girls and boys cricket teams, two children's tennis coaching clubs, as well as the local cricket club.

The popular "Richmond House Tots" sessions continued this year, offering multi-sensory music and learning sessions, for children aged 1- 4 years old. The sessions provide young children with early exposure to communication and language skills, literacy and numeracy, physical development and expressive arts. Sessions are run by one of our specialist Nursery teachers, open to all children in the local community who are not pupils at Richmond House and charged at a subsidised, affordable, rate.

The School operates a bursary fund to assist new applicants to the School or an existing pupil where a change in parent/guardian's circumstances has resulted in a difficulty meeting tuition fees. This fund is primarily used to broaden the access to the School and use of this fund is reviewed by the Governors to ensure funds are used appropriately. Availability of bursaries is advertised on the School website (www.rhschool.org) and through marketing awareness campaigns, promoting the fund on social media and outdoor communications.

Such support is available on a needs basis via application to the Bursar. Bursaries to the value of £57,254 (2024:£63,335) were made in 2024/25. Transformational bursaries were in place for children from low income families who would otherwise not have been able to afford independent education. Three of these are funded by the School, and one is fully funded with equal contribution from the School and the Independent Association of Prep Schools.

The School's total contribution to UK GDP (direct, indirect and induced) is estimated at £3.9m, of which £2.2m is within the Leeds local authority area. In addition to the 65 direct jobs through staff employed in school, a further 7 jobs are supported indirectly through local supply chains. £1.1m of UK tax payments are supported by the School's activities, with a further £1.4m of savings for the UK tax payer as a result of attendance by pupils who would otherwise take up a free state school place.

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

STRATEGIC REPORT

Achievements and performance

Summary of key events

2024/25 was a year of growth and resilience for Richmond House School, marked by stable pupil numbers, a successful ISI inspection, and strong financial performance despite significant external pressures. Cost control remained a key priority, with significant cost increases following the removal of Charitable Rates Relief, National Living Wage increases, and increases in National Insurance Contributions compounded by absorbing the majority of the VAT impact in order to minimise the amount passed on to parents.

Achievement and performance

Richmond House School continued to make excellent progress in delivering its Strategic Development Plan for 2023-2028. The school remains committed to its vision of being the school of choice in Leeds for children aged 2 to 11, offering "an education worth paying for". This report outlines the key developments and achievements across the strategic pillars of the Education Development Plan (Safeguarding, Pastoral Care & Wellbeing, Teaching & Learning, Enrichment and Community), facilitated through the Business Support Plan (Effective Use of Resources and Employer of Choice).

Safeguarding, Pastoral Care and Wellbeing

We provide a safe, secure, and inclusive environment where all pupils are heard. All pupils will be equipped with the skills to develop resilience and deal with any challenges they may face.

The school has maintained its strong reputation for safeguarding and pastoral care. In February 2025, Richmond House received a highly positive ISI inspection report, which confirmed that safeguarding and wellbeing systems are robust and comprehensive, with no areas of recommendation. This followed an external Safeguarding audit in November 2024, which praised the school's provision and pastoral team.

Mental health has become a central focus of the wellbeing strategy. A designated Mental Health Lead was appointed, and a team of pupil Wellbeing Ambassadors has been established. Initiatives such as wellbeing days, mental health activities, and restorative practices have been introduced to support both pupils and staff. Attendance monitoring has been strengthened, and new reporting procedures put in place. Safeguarding supervision meetings are held weekly between the Headteacher, Designated Safeguarding Lead and Deputy DSLs, and half-termly reviews are in place with the Safeguarding governor.

The school has made strides in promoting equality, diversity, and inclusion (EDI). A Neurodiversity Ambassador was appointed, and the RE curriculum was refreshed to include thematic studies of major world religions. Catering provision has been adapted to accommodate diverse dietary needs and reduce food waste, with international food days becoming a regular feature.

Sustainability is now embedded in the school culture. Active travel has been promoted, eco-monitors reintroduced, and stationery use reduced. Pupils are encouraged to take personal responsibility through initiatives such as personal pencil cases and playground toy management.

Teaching and Learning

Providing excellent teaching in small classes by committed and specialist staff. The individual needs of all pupils will be met.

Academic achievement remained a cornerstone of the school's mission. Year 6 pupils once again secured places at their chosen senior schools, with several receiving scholarships across academics, music, and sport. The ISI inspection highlighted the quality of teaching and the effectiveness of the curriculum in developing subject-specific skills.

Pupil assessment procedures have been significantly improved. The school has implemented a new comparative judgement system for writing, which has shown pupils performing above national expectations. A new provider for standardised assessments in Maths and English is being trialled, with plans to streamline assessment across the school. The new assessment data will enable comprehensive analysis and reduce teacher workload. The platform provides standardised age scores and corresponding National Curriculum levels for each child, offering deeper insights into strengths and weaknesses. The method of assessment also allows teachers to use the data more effectively to improve learning outcomes.

Curriculum development was a major focus. Foundation subjects such as geography, history, RE, and computing were refreshed to include contemporary topics like climate change and artificial intelligence. A new medium-term planning format ensures that all pupils' needs are met, including those with SEND and those who are academically more able.

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

Specialist teaching continues to be a key differentiator for Richmond House. Subjects such as science, art, outdoor learning, sport, music, drama, and modern languages are taught by committed and enthusiastic staff. The school has also introduced a new handwriting scheme and enhanced its reading provision with significant investment in non-fiction books.

Enrichment and Community

Providing a breadth of enrichment opportunities to help each pupil build their confidence, achieve their full potential, and prepare for their senior school of choice and their life beyond. Engaging with the wider community through local partnerships and identifying opportunities for pupils to develop a sense of social responsibility Richmond House offers a rich and varied enrichment programme that supports pupils' personal development and confidence. Free after-school clubs were available every day to all pupils from Reception to Year 6, covering sport, music, creativity, outdoor learning, and science, and new drama and performance clubs were added. Wraparound care ran throughout the year, including a trial for Holiday Club to remain open across the Christmas week, and the introduction of new Specialist Camps across both sport and performing arts.

Curriculum-linked trips and themed days took place across all year groups. Residential experiences included environmental science trips for Year 3, outdoor challenges for Year 4, activity weeks for Year 5, and a cultural visit to Paris for Year 6. These experiences helped pupils develop independence, teamwork, and resilience.

Community engagement has been strengthened through partnerships with local nurseries, care homes, and charities. Pupils have participated in musical performances for care home residents, charity collections for Leeds Hospital Fund, and events such as the Rob Burrow Leeds Marathon.

Effective Use of Resources

Using all our resources effectively to ensure long-term financial stability, to reduce our carbon footprint and to maintain the heritage of Richmond House School.

The school demonstrated strong financial management, achieving a surplus of £53k for 2024/25, significantly outperforming the budgeted deficit, driven by pupil numbers outperformance. This was achieved despite the introduction of VAT on school fees, which has been managed effectively by the school absorbing most of the increase, resulting in minimal impact on pupil numbers.

Facilities were improved through targeted investment. New fencing enhanced site security, classrooms have been redecorated, and Early Years, Wraparound Care, and Science & DT resources and facilities were all upgraded. Sustainability measures included LED lighting, reduced energy usage, and the Victorian building underwent essential maintenance works with the first phase of an extensive repointing and roofing improvement programme. The school continues to leverage its facilities for income generation, with lettings income increased again year-on-year.

Marketing efforts have been revitalised with a new promotional video, the launch of the PEAK campaign, and increased use of video in social media. Social media engagement increased, and Open Event attendance improved through personalised communication and creative advertising. Alumni engagement has begun, with former pupils returning to inspire current students. Admissions processes have been streamlined, and a clearer policy has been introduced for managing oversubscription in Nursery.

All pupil and staff devices were upgraded to new Windows 11 laptops. A review of cyber security was completed, and the school began exploring the use of AI in planning and administration to improve efficiency. Staff training on IT security and usage is ongoing.

Employer of Choice

Being an employer of choice where all staff are valued and where all staff value working at Richmond House.

Richmond House School is committed to being an employer of choice. Staff contracts were reviewed to offer flexibility and alignment with operational needs. The transition from TPS to APTIS pensions was managed smoothly, with support staff now offered the same pension option.

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

Staff wellbeing is a priority, with initiatives such as Simply Health cover, wellbeing surveys, and the formation of a Wellbeing Committee. Recruitment practices have been enhanced to promote diversity, and leadership training is being developed for SLT and middle management.

Staffing structures have been adapted to support wraparound care and enrichment. Teaching assistants are now on compressed hours contracts, offering balance and flexibility to staff, and bank staff have been recruited to support holiday clubs. The school continues to attract qualified and enthusiastic specialist practitioners.

Financial review

Financial position

The unrestricted surplus for the year amounted to £53,219 (2024: £98,950).

Investment policy and objectives

The Memorandum dictates that the Governors may invest the money of the Charity not immediately required for its purposes in or upon such investments, securities or property as may be thought fit, subject to conditions (if any) and consents (if any) imposed or required by law.

Reserves policy

The Governors aim to maintain sufficient free reserves to ensure the efficient operation of the School and to safeguard against emerging financial risks. Recognizing the potential impact of future economic and political uncertainties - particularly since the introduction of VAT on school fees in January 2025 - the Governors have determined it is necessary to strengthen the School's financial resilience, and the Governors consider the required free reserve should be increased from the current level of three months' running costs (approximately £635,000) to between four and four and a half months running costs which, as at 31 August 2025, would be approximately £840,000 to £940,000.

As at 31 August 2025, the School held free reserves, defined as total reserves excluding fixed assets, designated, and restricted funds, of £777,028 (2024: £761,881). It is planned that the targeted free reserves level will be achieved over the next 2-5 years through budgeted operating surpluses, ensuring the School is well-positioned to manage these anticipated risks

Any free cash balances are invested in interest bearing accounts with reputable financial institutions.

Fixed asset funds

The reserves of the School include investments in school land and buildings and other operating assets with a net book value at 31 August 2025 of £1,709,127 (2024: £1,771,054).

Designated funds

At 31st August 2025 the balance on the fund designated for use for new Sports facilities is £350,000 (2024: £250,000). Governors are progressing opportunities to progress this in the medium term, along with improving other major facilities, if and when circumstances allow and the timing is right. A fund of £80,000 is designated for use for roof replacement which is anticipated to be required within the next five years.

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

STRATEGIC REPORT

Future plans

Following strong performance in 2024-25-including a successful ISI inspection and increased pupil numbers-the focus for coming years is on maintaining financial stability in the face of external challenges. Underpinned by strong pupil numbers, the school will continue to build on its successes by expanding enrichment opportunities, enhancing sustainability, and improving facilities. Plans include further curriculum development, increased community engagement, and strategic estate improvements alongside digital transformation and staff development.

Safeguarding & Wellbeing

Objectives for Safeguarding and Wellbeing are to ensure compliant safeguarding and high-quality pastoral care, promoting the wellbeing of pupils and staff, celebrating equality, diversity, and inclusion across our school community, and fostering a culture of sustainability. In 2025 /26 this will be delivered through:

o Maintain robust safeguarding systems with regular audits and staff training.

o Implement wellbeing assessments for pupils and embed new tiered pastoral support.

o Expand mental health provision and restorative practices in a new Behaviour Policy and training for staff.

o Pupil mental health days, tiered support system, pupil wellbeing surveys

o Develop additional playground zones and explore sensory room feasibility.

o Deliver annual neurodiversity training for all teaching staff.

o Introduce Parent online safety training

o Review catering provision for inclusivity and sustainability.

Teaching and Learning

Objectives for Teaching & Learning are to ensure equality, diversity, and inclusion within the curriculum, enhancing whole-school assessment procedures to demonstrate value added and inform planning, maintain high levels of academic achievement, extend specialist teaching, and deliver an EYFS curriculum that ensures all pupils meet key developmental milestones while embracing EDI principles. In 2025 / 26 this will be delivered through:

o Strengthen assessment systems, leveraging technology with newly introduced standardised assessments provision.

o Embed new planning formats to ensure adaptive teaching for SEND and academically more able pupils.

o Promote reading for pleasure across all phases and further develop writing skills across the curriculum.

o Adoption of new Performance and Development Review format focusing on specific whole school targets, triangulation of resources to demonstrate evidence of high-performance teaching and 'outstanding' teachers sharing good practice

o Monitor the impact of newly introduced digital platforms (e.g., Atom Learning, Developing Experts).

o Continue curriculum refresh in humanities and RE; ensure EDI integration.

o Enhance Early Years outdoor learning opportunities and review classroom layouts, improving consistency in teaching standards and resource provision.

Enrichment & Community

Objectives within the Enrichment & Community pillar of the strategic plan are to ensure the enrichment programme fosters a culture of EDI, to provide quality school care outside of our school hours, to continue to enhance enrichment opportunities through the curriculum and to identify opportunities for pupils to engage with the local community to mutual benefit. In 2025 / 26 this will be delivered through:

o Broaden enrichment opportunities through diverse trips and visiting speakers.

o Develop outdoor learning facilities (bike trail, bouldering wall, mud kitchens).

o Increase pupil participation in music, drama, and sport; enter more external festivals.

o Expand wraparound care quality and holiday club provision.

o Strengthen community engagement through events and alumni involvement.

o Develop a financial awareness day to replace Enterprise Day, using parent expertise and external visitors.

Effective Use of Resources

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

STRATEGIC REPORT

Objectives within the Effective Use of Resources pillar of the strategic plan are to ensure long-term financial stability, driven by pupil numbers balanced with cost control. Drive pupil recruitment and retention through a robust marketing program leveraging our nursery pipeline, maintain and enhance the estate to deliver a premium educational experience, implement commercially viable sustainability initiatives, strengthen IT infrastructure and staff capability to support secure and data-driven education, and maximize the value of school facilities as both a showcase for prospective families and a source of revenue. In 2025 / 26 this will be delivered through:

o Maintaining surplus budgets despite VAT impact; monitoring admissions trends.

o Review reserves policy and investment priorities for long-term sustainability.

o Extension of government Funded Early Education Entitlement for 2-year-olds

o Drive pupil recruitment through targeted campaigns and enhanced open events. Launch of a new website, elevated social media presence, strengthen alumni engagement and community partnerships.

o Continue phased building repairs and aesthetic improvements, with accelerated re-pointing programme, improve dining hall environment and EYFS outdoor space.

o Reduce carbon footprint through energy audits, travel initiatives, and menu planning.

o Feasibility review for new all-weather sports pitch facility

o Extend AI use for administration and wellbeing.

o Implement cyber security improvements and tender key IT services.

o Streamline parent communication channels

Employer of Choice

Our strategic priorities in being an Employer of Choice are to offer a competitive and flexible benefits package, maintain staffing structures that support quality delivery across the full provision, remain agile to cost changes driven by pupil numbers, promote staff wellbeing, and ensure specialist practitioners are qualified, experienced, and enthusiastic. Objectives to deliver this in 2025/26 are:

o Introduction of comprehensive wellbeing benefits and continue to benchmark salaries.

o Continue the transition from TPS to APTIS pensions.

o Maintain flexible staffing structures to support growth and wraparound care.

o Promote staff wellbeing through committee initiatives and training.

0 Leadership training programme based on the principles of coaching

o Launch new Performance Development Review framework that provides clear goals, fostering development through feedback, and offering a chance to be recognized for achievements

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Company is governed by its Memorandum and Articles of Association, amended on 26 May 2024.

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Directors and Governors of the company

The Governors are the Charity's Trustees and Company Directors of Richmond House School. The Governors are a self-appointing body. Governors over the course of 2024/25 and in place as at the date of signing of these accounts have been/are:

H Handy (Chair)

A West (Vice Chair from October 2024)

E Chuntharpursat-Bon

P J Fox

H Kemp

S Middleton

D Milner

E Moran

C Shields

I Townend

S Wilson (appointed October 2025)

G P Wood

Recruitment and training

The Trustees of the School are members of the Charity. A new member will be admitted to the Board of Governors on the approval of the existing Board of Governors which shall have absolute discretion as to the admission of any person. The Chair reviews the policies over selection, recruitment and training of Governors on a regular basis. A Governor's term of office is normally four years, with re-election for up to three terms. Training for Governors over the course of 2024/25 included training on Safeguarding, Cyber Security and Health & Safety.

Organisational management

The Governors meet as a whole body at least four times per annum to review the School's activities andstrategy and determine the general policy of the School. The day to day management of the School is delegated to the Headteacher and the Senior Leadership Team.

Governors are advised of any changes in governance requirements and informed of training courses andconferences to further their knowledge. The School is a member of the Association of Governing Bodies of Independent Schools (AGBIS) which runs training courses for governors and advises on best practice.

The Headteacher is a member of the Independent Association of Prep Schools (IAPS) and the Bursar is a member of the Independent Schools Bursars Association (ISBA).

Key management remuneration

The day-to-day running of the school is delegated to the Senior Leadership Team. The members of the Senior Leadership Team during 2024/25 and in place for 2025/26 are:

S Young Headteacher

A Havard Bursar

A Wilkinson Deputy Headteacher and Designated Safeguarding Lead

A Young Senior Lead for Teaching and Learning

Members of the Senior Leadership Team attended several Board Meetings and/or Committee meetings over the course of the year..

The remuneration of key management personnel is set by the Board. The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other independent schools, to ensure that the School remains sensitive to the broader issues of pay and employment conditions elsewhere.

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Principal risks and uncertainties

The Governors keep the School's activities under review, particularly in regard to major risks that may arise as well as to systems and procedures established to manage and mitigate those risks. The Trustees have assessed the major risks-particularly operational, financial, and technological-and are satisfied that robust systems are in place to manage and mitigate exposure. Controls are designed to provide reasonable assurance against fraud, error, and cyber threats.

The major risks can be categorised as financial, educational, reputational, legal, and technological (including cybersecurity).

The key controls are:

- clear governance structure, including committees and formal agendas and minutes

- clear organisation, responsibilities, and reporting lines

- clear authorisation and approval levels

- strategic plans, budgets, and financial management including termly management accounts

- careful planning and management of projected pupil numbers

- formal policies and responsibilities including child safeguarding, health and safety, safer recruitment, and operational areas

- robust IT system security measures, including firewalls, encryption, multi-factor authentication, regular vulnerability assessments, with secure remote backups and disaster recovery protocols to protect against data loss and cyber incidents

- a detailed risk register in place which is reviewed at every Board meeting and in respective Committee meetings

The introduction of VAT onto independent school fees from January 2025 poses significant risks for Richmond House School and all independent schools, as evidenced by the closures of several local schools since then. In addition, the removal of Mandatory Rates Relief together with the reduction in Employer National Insurance Contributions thresholds and increase in contribution rates, all in April 2025, represent significant cost headwinds for the school. Longer term, costs of expected changes such as workplace reforms, and 2050 net zero targets in an aging heritage building, add further financial pressure. Governors at Richmond House School are mindful of these threats and continue to work to minimise the impact on parent affordability and the school, in addition to building financial reserves to build resilience against these threats. The Trustees are confident that, given the strong foundations existing within the School, including a widely skilled Board of Governors, strong leadership, a stable workforce, increased pupil numbers and a sound balance sheet (which includes free cash reserves), that the School will weather the current and impending storms albeit that they also recognise that some hard decisions may need to be taken at times to ensure that the School continues on a strong trajectory. The Board of Governors continues to periodically review financial forecasts, taking a prudent approach given the charitable status of the School.

AUDITORS

The auditors, Thomas Coombs Limited, 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 5th February 2026 and signed on the board's behalf by:

H Handy - Trustee

RICHMOND HOUSE SCHOOL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31ST AUGUST 2025

The trustees (who are also the directors of Richmond House School 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).

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

- | select suitable accounting policies and then apply them consistently;

- | observe the methods and principles in the Charities SORP;

- | make judgements and estimates that are reasonable and prudent;

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

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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:

- | there is no relevant audit information of which the charitable company's auditors are unaware; and

- | 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 of that information.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RICHMOND HOUSE SCHOOL

Opinion

We have audited the financial statements of Richmond House School (the 'charitable company') for the year ended 31st August 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).

In our opinion the financial statements:

- | give a true and fair view of the state of the charitable company's affairs as at 31st August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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 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.

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 of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.

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 of the Trustees has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RICHMOND HOUSE SCHOOL

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.

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

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

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

- | certain disclosures of trustees' 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 (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RICHMOND HOUSE SCHOOL

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:

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:

Based on our understanding of the entity and industries in which it operates, we identified the principal risks of non-compliance with laws and regulations related to the application of charitable funds and data protection. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

We assessed the susceptibility of the company's financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls, and ensuring these controls operated as intended. We determined the principal risks were related to income recognition, in particular deferred income, and management bias in accounting estimates.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships.

- Identified and tested journal entries and identified any significant transactions that were unusual or outside the normal course of business.

- Investigated the rationale behind significant or unusual transactions.

- Challenged assumptions and judgements made by management in determining significant accounting estimates, in particular in relation to depreciation.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to:

- Agreeing financial statements disclosures to underlying supporting documentation.

- Discussions with management of known or suspected instances of non-compliance with laws and regulations.

- Reading the minutes of meetings of those charged with governance.

- Reviewing correspondence with relevant regulators including the Charities Commission.

At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance of laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement relating to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RICHMOND HOUSE SCHOOL

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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Shaun Pullan (Senior Statutory Auditor)

for and on behalf of Thomas Coombs Limited

Statutory Auditor

Chartered Accountants

3365 The Pentagon

Century Way

Thorpe Park

Leeds

West Yorkshire

LS15 8ZB

5th February 2026

RICHMOND HOUSE SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST AUGUST 2025

| 2025 |  | 2024

| Unrestricted |  | Restricted |  | Total |  | Total

| funds |  | funds |  | funds |  | funds

| Notes | £ | £ | £ | £ |

INCOME AND ENDOWMENTS FROM

Donations and legacies | 3 | 28,064 |  | - |  | 28,064 |  | 26,422 |

Charitable activities | 5

Operation of the school | 2,403,668 |  | - |  | 2,403,668 |  | 2,420,011 |

Other ancillary trading income | 195,528 |  | - |  | 195,528 |  | 188,586 |

Investment income | 4 | 49,763 |  | - |  | 49,763 |  | 36,731 |

Total | 2,677,023 |  | - |  | 2,677,023 |  | 2,671,750 |

EXPENDITURE ON

Charitable activities | 6

Operation of the school | 2,623,804 |  | - |  | 2,623,804 |  | 2,572,800 |

NET INCOME | 53,219 |  | - |  | 53,219 |  | 98,950 |

RECONCILIATION OF FUNDS

Total funds brought forward | 2,862,935 |  | - |  | 2,862,935 |  | 2,763,985 |

TOTAL FUNDS CARRIED FORWARD | 2,916,154 |  | - |  | 2,916,154 |  | 2,862,935 |

RICHMOND HOUSE SCHOOL (REGISTERED NUMBER: 01270675)

BALANCE SHEET

31ST AUGUST 2025

| 2025 |  | 2024

| Unrestricted |  | Restricted |  | Total |  | Total

| funds |  | funds |  | funds |  | funds

| Notes | £ | £ | £ | £ |

FIXED ASSETS |

Tangible assets | 13 | 1,709,127 |  | - |  | 1,709,127 |  | 1,771,054 |

CURRENT ASSETS |

Debtors | 14 | 151,813 |  | - |  | 151,813 |  | 55,646 |

Cash at bank | 1,886,255 |  | - |  | 1,886,255 |  | 1,751,375 |

2,038,068 |  | - |  | 2,038,068 |  | 1,807,021 |

CREDITORS |

Amounts falling due within one year | 15 | (614,511 | ) | - |  | (614,511 | ) | (493,529 | )

NET CURRENT ASSETS | 1,423,557 |  | - |  | 1,423,557 |  | 1,313,492 |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,132,684 |  | - |  | 3,132,684 |  | 3,084,546 |

CREDITORS |

Amounts falling due after more than one year | 16 | (216,530 | ) | - |  | (216,530 | ) | (221,611 | )

NET ASSETS | 2,916,154 |  | - |  | 2,916,154 |  | 2,862,935 |

FUNDS | 19

Unrestricted funds | 2,916,154 |  | 2,862,935 |

TOTAL FUNDS | 2,916,154 |  | 2,862,935 |

The financial statements were approved by the Board of Trustees and authorised for issue on 5th February 2026 and were signed on its behalf by:

H Handy - Trustee

RICHMOND HOUSE SCHOOL

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST AUGUST 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 174,214 |  | 413,351 |  |

Interest paid | (14,694 | ) | (17,898 | ) |

Net cash provided by operating activities | 159,520 |  | 395,453 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (24,640 | ) | (72,960 | ) |

Sale of tangible fixed assets | - |  | 2,990 |  |

Net cash used in investing activities | (24,640 | ) | (69,970 | ) |

Cash flows from financing activities

Loan repayments in year | - |  | (4,742 | ) |

Net cash provided by/(used in) financing activities | - |  | (4,742 | ) |

Change in cash and cash equivalents in the reporting period | 134,880 |  | 320,741 |  |

Cash and cash equivalents at the beginning of the reporting period | 1,751,375 |  | 1,430,634 |  |

Cash and cash equivalents at the end of the reporting period | 1,886,255 |  | 1,751,375 |  |

RICHMOND HOUSE SCHOOL

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST AUGUST 2025

1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

| 2025 |  | 2024

£ | £ |

| Net income for the reporting period (as per the Statement of Financial Activities) | 53,219 |  | 98,950 |  |

| Adjustments for:

| Depreciation charges | 86,567 |  | 90,726 |  |

| Profit on disposal of fixed assets | - |  | (2,985 | ) |

| Interest paid | 14,694 |  | 17,898 |  |

| Increase in debtors | (96,167 | ) | (4,540 | ) |

| Increase in creditors | 115,901 |  | 213,302 |  |

| Net cash provided by operations | 174,214 |  | 413,351 |  |

2. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/9/24 | Cash flow | At 31/8/25

£ | £ | £ |

| Net cash |

| Cash at bank | 1,751,375 |  | 134,880 |  | 1,886,255 |  |

1,751,375 |  | 134,880 |  | 1,886,255 |  |

| Debt

| Debts falling due within 1 year | (11,224 | ) | - |  | (11,224 | ) |

| Debts falling due after 1 year | (221,611 | ) | 5,081 |  | (216,530 | ) |

(232,835 | ) | 5,081 |  | (227,754 | ) |

| Total | 1,518,540 |  | 139,961 |  | 1,658,501 |  |

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

1. | COMPANY AND CHARITABLE STATUS

| Richmond House School is a company limited by guarantee. The guarantors are the Governors named on page 1. The liability in respect of this guarantee, as set out in the memorandum, is limited to £1 per member. The company is a charity, Registration Number 505630.

2. | 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.

| The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

| 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.

| Going concern

| The governors have prepared robust forecasts covering the period to August 2026 and undertaken an assessment of expectations for the following academic year. These forecasts and assessments continue to be regularly reviewed and, having taken into account the projected cash flows, existing cash reserves and bank loan commitments, the governors consider the school will continue to be a going concern for the foreseeable future.

| Tangible fixed assets

| Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

| Freehold buildings |  | 50 years |  |

| Long Leasehold buildings |  | 50 years |  |

| Fixtures, fittings and equipment |  | 3-10 years |  |

| Machinery |  | 20 years |  |

| Motor vehicles |  | 5 years |  |

| Long leasehold land is not depreciated.

| The Charity capitalises assets where they are considered to have an economic benefit to the School for a period greater than a year.

| Taxation

| The charity is exempt from corporation tax on its charitable activities.

| Fund accounting

| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Fund accounting

| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

| Income and endowments

| Operation of school

| Income from school fees and for other school services is recognised in line with the term to which they relate. Fees consist of charges billed less discounts.

| Investment income

| Investment income relates to interest and is included when receivable.

| Donations receivable

| Donations received are treated as income in the year in which entitlement is demonstrable and conditions have been met. Donations subject to specific wishes of the donors are treated as restricted funds.

| Expenditure

| Liabilities are recognised 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.

| Support costs

| Support costs have been allocated to activity cost categories on a basis consistent with the use of the resources.

| Pension costs

| The Charity makes contributions to the Teachers' Pension Scheme, a multi-employer defined benefit pension scheme. As the Charity is unable to separately identify its share of the assets and liabilities of the scheme, the scheme is accounted for as if it were a defined contribution scheme under FRS 102. The contributions are charged against income as they become payable in accordance with the rules of the scheme.

| The charitable company also operates a defined contribution stakeholder pension scheme for support staff. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

| Financial instruments

| The charity only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

| Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

| Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

| Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Leases

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Rentals payable under operating leases are charged to the SOFA on a straight line basis over the period of the lease.

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the School's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily 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.

| The significant area of estimation identified are:

| - Useful life of assets and potential impairment of assets.

| Fee debtor provision

| A provision for impairment of fee debtors is established when there is objective evidence that the amounts due will not be collected in line with the usual fee collections due to financial difficulty of the debtors.

3. | DONATIONS AND LEGACIES

| 2025 |  | 2024

£ | £ |

| Donations | 28,064 |  | 26,422 |  |

4. | INVESTMENT INCOME

| 2025 |  | 2024

£ | £ |

| Investment Income | 49,763 |  | 36,731 |  |

5. | INCOME FROM CHARITABLE ACTIVITIES

| 2025 |  | 2024

| Other |

| Operation |  | ancillary |

| of the |  | trading |  | Total |  | Total

| school |  | income |  | activities |  | activities

£ | £ | £ | £ |

| School fees | 2,238,756 |  | - |  | 2,238,756 |  | 2,264,242 |  |

| Lunches | 158,119 |  | 7,815 |  | 165,934 |  | 155,288 |  |

| Pre and after school care | - |  | 61,156 |  | 61,156 |  | 58,767 |  |

| Sundry income | 6,793 |  | 17,092 |  | 23,885 |  | 18,294 |  |

| Extra curriculum activities | - |  | 109,465 |  | 109,465 |  | 112,006 |  |

2,403,668 |  | 195,528 |  | 2,599,196 |  | 2,608,597 |  |

| School fees are reported net of bursary awards of £57,254 (2024: £63,335), of which £10,000 was funded from donations.

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

6. | CHARITABLE ACTIVITIES COSTS

| Direct | Support |

| Costs (see | costs (see |

| note 7) | note 8) | Totals

£ | £ | £ |

| Operation of the school | 2,136,383 |  | 487,421 |  | 2,623,804 |  |

7. | DIRECT COSTS OF CHARITABLE ACTIVITIES

| 2025 |  | 2024

£ | £ |

| Staff costs | 1,645,817 |  | 1,581,404 |  |

| Other staffing costs | 11,442 |  | 14,334 |  |

| Canteen provisions | 98,581 |  | 100,530 |  |

| Premises costs | 85,093 |  | 77,716 |  |

| Repairs and renewals | 72,585 |  | 53,127 |  |

| Depreciation | 86,567 |  | 90,730 |  |

| Computer training and support | 20,893 |  | 16,881 |  |

| Cleaning materials | 15,487 |  | 16,893 |  |

| Doubtful debts | 10,736 |  | 11,446 |  |

| Subscriptions | 14,283 |  | 14,659 |  |

| Safeguarding, Pastoral & Enrichment | 56,795 |  | 41,027 |  |

| Teaching & Learning | 14,400 |  | 10,361 |  |

| Nursery and Wraparound | 12,716 |  | 26,498 |  |

| Trips & Outings | 4,355 |  | 5,285 |  |

| Whole School Events & Creative Arts | 13,945 |  | 16,799 |  |

| Recovered Non-reclaimed VAT | (27,312 | ) | - |  |

| Loss on sale of assets | - |  | (2,985 | ) |

2,136,383 |  | 2,074,705 |  |

8. | SUPPORT COSTS

| Finance |  | Other |  | Totals

£ | £ | £ |

| Operation of the school | 14,694 |  | 472,727 |  | 487,421 |  |

| Support costs, included in the above, are as follows: |

| Finance |

| 2025 |  | 2024

| Operation |

| of the |  | Total

| school |  | activities

£ | £ |

| Bank interest | 14,694 |  | 17,898 |  |

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

8. | SUPPORT COSTS - continued

| Other |

| 2025 |  | 2024

| Operation |

| of the |  | Total

| school |  | activities

£ | £ |

| Staff costs | 358,349 |  | 331,814 |  |

| Administration costs | 23,865 |  | 37,516 |  |

| Marketing and promotions | 54,979 |  | 49,638 |  |

| Sundry costs | 3,191 |  | 3,651 |  |

| Legal and professional fees | 19,313 |  | 15,983 |  |

| Governance cost: Audit fees | 12,170 |  | 7,980 |  |

| Governance cost: Legal advice | 860 |  | 33,615 |  |

472,727 |  | 480,197 |  |

9. | NET INCOME/(EXPENDITURE)

| Net income/(expenditure) is stated after charging/(crediting): |

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 86,567 |  | 90,730 |  |

| Surplus on disposal of fixed assets | - |  | (2,985 | ) |

| Auditors' remuneration - audit | 12,000 |  | 7,980 |  |

| Auditors' remuneration - other | 1,500 |  | 1,897 |  |

10. | TRUSTEES' REMUNERATION AND BENEFITS

| There were no trustees' remuneration or other benefits for the year ended 31st August 2025 nor for the year ended 31st August 2024.

| Trustees' expenses

| There were no Trustee's reimbursements for the year ended 31st August 2025 (2024: Nil)

11. | STAFF COSTS

|  | 2025 |  |  | 2024 |

|  | £ |  |  | £ |

| Wages and salaries |  | 1,568,728 |  |  | 1,441,371 |

| Social security costs |  | 162,826 |  |  | 143,046 |

| Pension costs |  | 267,357 |  |  | 245,798 |

|  | 1,998,911 |  |  | 1,913,218 |

| The average number of full time equivalent employees during the year was as follows:

|  | 2025 |  | 2024 |  |

| Head teacher |  | 1 |  | 1 |  |

| Teachers & teaching assistants |  | 28 |  | 27 |  |

| Kitchen staff |  | 4 |  | 3 |  |

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

11. | STAFF COSTS - continued

| Ancillary |  | 6 |  | 6 |  |

| Administrative |  | 4 |  | 4 |  |

|  | 43 |  | 41 |  |

| The average number of total employees during the year was as follows:

|  | 2025 |  | 2024 |  |

| Head teacher |  | 1 |  | 1 |  |

| Teachers & teaching assistants |  | 46 |  | 41 |  |

| Kitchen staff |  | 5 |  | 5 |  |

| Ancillary |  | 9 |  | 8 |  |

| Administrative |  | 4 |  | 4 |  |

|  | 65 |  | 59 |  |

| The number of employees whose employee contracted benefits (excluding employer pension costs) exceeded £60,000 was:

|  | 2025 |  | 2024 |  |

| £60,001-£70,000 |  | - |  | 1 |  |

| £70,001-£80,000 |  | 2 |  | 1 |  |

|  | 2 |  | 2 |  |

| Contributions to pension schemes in respect of high paid staff amounted to £27,988 (2024: £21,684).

| The total employee costs (gross, employers national insurance contributions, employer contributions and school fee discounts available to all employees) of key management personnel as considered by the charity were £334,234 (2024: £356,836).

12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

| Unrestricted |  | Restricted |  | Total

| funds |  | funds |  | funds

£ | £ | £ |

| INCOME AND ENDOWMENTS FROM

| Donations and legacies | 6,422 |  | 20,000 |  | 26,422 |

| Charitable activities

| Operation of the school | 2,440,011 |  | (20,000 | ) | 2,420,011 |

| Other ancillary trading income | 188,586 |  | - |  | 188,586 |

| Investment income | 36,731 |  | - |  | 36,731 |

| Total | 2,671,750 |  | - |  | 2,671,750 |

| EXPENDITURE ON

| Charitable activities

| Operation of the school | 2,572,800 |  | - |  | 2,572,800 |

| NET INCOME | 98,950 |  | - |  | 98,950 |

| Transfers between funds | 2,702 |  | (2,702 | ) | - |

| Net movement in funds | 101,652 |  | (2,702 | ) | 98,950 |

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

| Unrestricted |  | Restricted |  | Total

| funds |  | funds |  | funds

£ | £ | £ |

| RECONCILIATION OF FUNDS

| Total funds brought forward | 2,761,283 |  | 2,702 |  | 2,763,985 |

| TOTAL FUNDS CARRIED FORWARD | 2,862,935 |  | - |  | 2,862,935 |

13. | TANGIBLE FIXED ASSETS

| Long |

| leasehold |

| Freehold |  | land and |  | Plant and

| buildings |  | buildings |  | machinery

£ | £ | £ |

| COST

| At 1st September 2024 | 1,373,533 |  | 513,276 |  | 18,675 |  |

| Additions | - |  | - |  | - |  |

| Disposals | - |  | (9,815 | ) | - |  |

| At 31st August 2025 | 1,373,533 |  | 503,461 |  | 18,675 |  |

| DEPRECIATION

| At 1st September 2024 | 216,796 |  | 62,656 |  | 17,826 |  |

| Charge for year | 27,471 |  | 6,265 |  | 361 |  |

| Eliminated on disposal | - |  | (9,815 | ) | - |  |

| At 31st August 2025 | 244,267 |  | 59,106 |  | 18,187 |  |

| NET BOOK VALUE

| At 31st August 2025 | 1,129,266 |  | 444,355 |  | 488 |  |

| At 31st August 2024 | 1,156,737 |  | 450,620 |  | 849 |  |

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

13. | TANGIBLE FIXED ASSETS - continued

| Fixtures |

| and |  | Motor |

| fittings |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1st September 2024 | 958,138 |  | 71,606 |  | 2,935,228 |  |

| Additions | 24,640 |  | - |  | 24,640 |  |

| Disposals | (82,908 | ) | - |  | (92,723 | ) |

| At 31st August 2025 | 899,870 |  | 71,606 |  | 2,867,145 |  |

| DEPRECIATION

| At 1st September 2024 | 837,148 |  | 29,748 |  | 1,164,174 |  |

| Charge for year | 42,993 |  | 9,477 |  | 86,567 |  |

| Eliminated on disposal | (82,908 | ) | - |  | (92,723 | ) |

| At 31st August 2025 | 797,233 |  | 39,225 |  | 1,158,018 |  |

| NET BOOK VALUE

| At 31st August 2025 | 102,637 |  | 32,381 |  | 1,709,127 |  |

| At 31st August 2024 | 120,990 |  | 41,858 |  | 1,771,054 |  |

| The carrying cost of the freehold buildings comprises "deemed cost" of £1,300,000 adopted an transition to FRS102, plus subsequent capital costs of £73,533.

| All tangible fixed assets were used for charitable purposes.

| All assets were purchased from unrestricted funds.

14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025 | 2024 |

£ | £ |

| School fees | 38,860 |  | 39,425 |  |

| Other debtors | 3,083 |  | - |  |

| VAT | 39,484 |  | - |  |

| Prepayments and accrued income | 70,386 |  | 16,221 |  |

151,813 |  | 55,646 |  |

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 17) | 11,224 |  | 11,224 |  |

| Creditors in the course of ordinary activities | 53,595 |  | 27,755 |  |

| Social security and other taxes | 37,742 |  | 31,008 |  |

| Other creditors and deferred grants | 54,445 |  | 48,583 |  |

| Deposits | 70,750 |  | 60,750 |  |

| Fees in advance | 348,407 |  | 288,536 |  |

| Accruals | 38,348 |  | 25,673 |  |

614,511 |  | 493,529 |  |

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025 | 2024 |

£ | £ |

| Bank loans (see note 17) | 216,530 |  | 221,611 |  |

| The loan was advanced on 7th October 2019 and is for a term of 25 years, a repayment loan, with an initial 2 year capital repayment holiday. Interest is charged at base plus 2.35%. The loan is secured on the freehold property of the school. The final repayment date for the loan is 31st October 2044.

17. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year on demand:

| Bank loans | 11,224 |  | 11,224 |  |

| Amounts falling between one and two years:

| Bank loans - 1-2 years | 11,224 |  | 11,224 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 33,673 |  | 33,673 |  |

| Amounts falling due in more than five years:

| Repayable by instalments:

| Bank loans more 5 yr by instalments | 171,633 |  | 176,714 |  |

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

18. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 1,920 |  | 1,947 |  |

| Between one and five years | 7,680 |  | - |  |

9,600 |  | 1,947 |  |

19. | MOVEMENT IN FUNDS

| Net |  | Transfers |  |

| movement |  | between |  | At |

| At 1/9/24 |  | in funds |  | funds |  | 31/8/25 |

£ | £ | £ | £ |

| Unrestricted funds

| Free reserves | 761,881 |  | 139,786 |  | (124,639 | ) | 777,028 |  |

| Fixed assets reserve | 1,771,054 |  | (86,567 | ) | 24,639 |  | 1,709,126 |  |

| Designated sports and performance reserves | 250,000 |  | - |  | 100,000 |  | 350,000 |  |

| Designated roof reserve | 80,000 |  | - |  | - |  | 80,000 |  |

2,862,935 |  | 53,219 |  | - |  | 2,916,154 |  |

| TOTAL FUNDS | 2,862,935 |  | 53,219 |  | - |  | 2,916,154 |  |

| Net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| Free reserves | 2,677,023 |  | (2,537,237 | ) | 139,786 |  |

| Fixed assets reserve | - |  | (86,567 | ) | (86,567 | ) |

2,677,023 |  | (2,623,804 | ) | 53,219 |  |

| TOTAL FUNDS | 2,677,023 |  | (2,623,804 | ) | 53,219 |  |

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

19. | MOVEMENT IN FUNDS - continued

| Comparatives for movement in funds

| Net |  | Transfers |  |

| movement |  | between |  | At |

| At 1/9/23 |  | in funds |  | funds |  | 31/8/24 |

£ | £ | £ | £ |

| Unrestricted funds

| Free reserves | 725,160 |  | 98,950 |  | (62,229 | ) | 761,881 |  |

| Fixed assets reserve | 1,786,123 |  | - |  | (15,069 | ) | 1,771,054 |  |

| Designated sports and performance reserves | 250,000 |  | - |  | - |  | 250,000 |  |

| Designated roof reserve | - |  | - |  | 80,000 |  | 80,000 |  |

2,761,283 |  | 98,950 |  | 2,702 |  | 2,862,935 |  |

| Restricted funds

| Parents' Association Capital Fund | 2,702 |  | - |  | (2,702 | ) | - |  |

| TOTAL FUNDS | 2,763,985 |  | 98,950 |  | - |  | 2,862,935 |  |

| Comparative net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| Free reserves | 2,671,750 |  | (2,572,800 | ) | 98,950 |  |

| TOTAL FUNDS | 2,671,750 |  | (2,572,800 | ) | 98,950 |  |

| Unrestricted funds are those funds expendable at the discretion of the Governors in pursuance of the Charity's objectives.

| The fixed asset reserve represents unrestricted funds held in the form of tangible fixed assets. These figures include unrealised revaluation of the freehold buildings arising on first transition to FRS102 of £656,864 (2024: £656,864).

| Designated funds represent the amounts that the Governors have set aside for the future development of the school's Sports and Performance facilities, and the anticipated roof replacement.

RICHMOND HOUSE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

20. | RELATED PARTY DISCLOSURES

| There were no related party transactions for the year ended 31st August 2025.

21. | PENSIONS SCHEME

| The School participates in the Teachers' Pension Scheme ("the TPS") for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £187,131 (2024: £221,812) and at the year-end £41,090 (2024 - £26,206) was accrued in respect of contributions to this scheme.

| The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers' Pensions Regulations 2010 (as amended) and The Teachers' Pension Scheme Regulations 2014 (as amended). Members contribute on a "pay as you go" basis with 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 by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report disclosed notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn. As noted above the scheme is a 'pay as you go' scheme and there is no liability on the School other than in respect of annual comntributions at the set employer rates.

| The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

22. | TAXATION

| Richmond House School has charitable status and its investment income and gains are exempt from corporation tax by virtue of its provisions of section 505, Income and Corporation Taxes Act 1988. Furthermore, it is considered that the trading activities of the Charity are carried out as the primary purpose of the Charity and accordingly, any element of the operating surplus attributable to such activities is also exempt from corporation tax under the provisions of that section.

23. | INDEMNITY INSURANCE

| The charity has purchased professional risks insurance to cover Governors' liability and professional indemnity up to £1,000,000.