The Trustees present their report and accounts for the year ended 31 August 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in 2015.
The financial statements have been prepared in accordance with the accounting policies set out in note to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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).
Main charitable object of CFBL
The charity’s main aim is, for the public benefit, the advancement of education in a French or broader bilingual curriculum, whether for pupils of French nationality or otherwise.
Activities
The charity is a non-associated independent school, authorised by the Department for Education. It provides a bilingual and bicultural education to pupils aged three to 16 and encourages academic excellence that exceeds the requirements set by the French Ministry of Education.
The school is non-selective academically, welcoming pupils of all abilities, as well as pupils from all social and economic backgrounds. It welcomes families from 56 different nationalities and 38 different languages spoken at home.
The charity is committed to safeguarding and promoting the welfare of its pupils and expects all staff and volunteers to share this commitment.
The charity teaches pupils to respect British values and to embrace the richness and cultural diversity that the school offers. It promotes its values of excellence and ambition for all, responsibility, solidarity, kindness and creativity.
The school is also accredited by the French Ministry of Education and delivers the French curriculum via a partnership agreement with Agence pour l’Enseignement Français à l’Etranger (AEFE) until 31 December 2025 and, from 1 January 2026, via a partnership agreement with the Mission Laique Française(MLF) in coordination with AEFE.
Bursaries
The school’s accreditation from the French Ministry of Education enables French pupils to receive means-tested bursaries for all or part of school fees from AEFE (subject to AEFE conditions). Between September 2024 and August 2025, 18 pupils (2.6%) were recipients of bursaries. Bursaries represent a total of £215,033 of fees received by the Collège Français Bilingue de Londres Ltd in 2024 (2024: £138,940).
Other means tested bursaries are available to CFBL pupils from the French Scholarship Foundation (FSF). In 2025, the governors authorised a donation of £100,000 to FSF to support means-tested bursaries granted by FSF to CFBL students.
Public benefit
The trustees have carefully considered the Charity Commission's guidance on public benefit.
Equal opportunity
As an equal opportunity organisation, the charity is committed to ensuring that appropriate policies, procedures and practices are in place to create a working environment free from discrimination, in which individuals from diverse backgrounds can realise their potential.
The charity actively opposes all forms of unlawful and unfair discrimination and strives to ensure fair treatment for all, including existing and prospective staff, pupils, parents and those accessing school resources and facilities, regardless of race, disability, sex, religion and belief, marriage and civil partnership, pregnancy and maternity, sexual orientation, gender reassignment and age. The board of trustees has an Equality, Diversity and Inclusion Committee comprised of trustees, senior school management, the SENCO and EDI coordinator.
The strategies in place to achieve the charity's aims and objectives are to:
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Decisions on which activities the charity should undertake have been made in light of the guidance issued by the Charity Commission. |
Volunteers
The charity relies on voluntary help, involving community members. In addition to staff who work at the school, over 40 volunteers assist occasionally with accompanying pupils and organising events, in order to enable lower staff costs and more activities than would otherwise be the case. Most volunteers are parents.
At 31 August 2025, there were 689 pupils registered at the school; the total number registered from September 2025 is anticipated to reduce as a result of the introduction of the 20% VAT on school fees since January 2025 which is impacting families. The school's fee income was £9,655,794 for the year ended 31 August 2025 (2024: £9,377,290) (note 3).
The total income, including incoming resources (notes 3), investment and rental income (note 4) and other income (note 5) was £11,138,600 for the year ended 31 August 2025 (2024 : £10,564,321).
The most recent standard inspection by Ofsted (in September 2025) rated all the school as Outstanding. Inspectors praised CFBL’s “first-class opportunities for learning” and “highly positive environment” where pupils “are extremely considerate of others and celebrate difference.” The report also commends our distinctive bilingual approach, which ensures pupils become fluent and confident in both French and English, fully prepared to succeed in life after CFBL.
The trustees place great importance on safety and security. Procedures and risk assessments are regularly reviewed. The school regularly reviews its security procedures in conjunction with the security officer at the French Embassy in London. The school regularly conducts external audits for safeguarding (the last one was in 2024/25) and Health & Safety (the last one was in Fy 2023/2024).
In 2025, the school spent a total of £10,700,206 (2024: £9,917,596), principally on employment costs at £6,269,289 (2024: £5,599,997) (Note 11) and premises costs of £2,478,497 (2024: £2,424,591) (Note 6). Income was more than resources expended in 2025, resulting in a surplus of £438,394 (2024: £646,725). The total of Restricted and Unrestricted reserves at the end of 2025 stood at £3,602,990 (2024: £3,164,596).
Restricted reserves are still to £10,000 (2024: £10,000) at the end of 2025. Unrestricted reserves stood at £3,592,990 at 31 August 2025 (2024: £3,154,596) due to a £438,394 increase in 2025. |
Reserves policy
The charity’s need for reserves are determined in accordance with guidance from the Charity Commission.
The trustees consider that unrestricted reserves of between three and six months’ expenditure will ensure that, in the event of a significant drop in funding or exceptional expenses, the charity’s current activities will be able to continue while considering ways to raise additional funds.
On 9 November 2020, the trustees adopted a reserves and budget policy aimed at returning the school’s free reserves to a minimum of three months of expenses by 2025/2026 .The charity's reserves reached the minimum desired level of 3 months’ expenditure as of 31 August 2023, and have since continued to grow to a level of approximately 4 months of expenditure in August 2025.
Risk management
The trustees, assisted by the charity’s management, have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to these risks.
A risk management plan is in place whereby if risks are identified, they are, when required, delegated to various committees with the relevant skills and experience to assess and manage the risks. The committees may also establish a system of controls necessary to manage these risks.
The principal risks to which the charity is exposed are:
Safeguarding, health and safety of pupils, staff and volunteers.
The recruitment and retention of staff of the highest calibre.
The financial stability of the charity.
The reputation and identity of the charity, particularly faced with increased competition from other French schools in London.
French and EU nationals’ right to work in the UK, which affects both staff and pupil numbers. For staff, this risk is mitigated by the possibility for the school to recruit locally, combined with the use of a skilled workers licence.
The current high rate of inflation in the United Kingdom and lack of manpower in certain fields such as cleaning or catering, impacting the CFBL organisation, costs and probably the pupils numbers in future.
Difficulties to recruit and retain students following the 2025 introduction of VAT on schools fees and related services and the 2025 removal of business rate tax relief accorded to charities. These risks must be mitigated by increasing demand via good quality of education.
Difficulties to recruit students in context of demographic changes.
The trustees have a risk management strategy, which comprises:
A risk management plan, detailing the principal risks and uncertainties that the charity may face, which is reviewed annually.
The establishment of policies, systems and procedures to mitigate the risks identified in the plan.
The implementation of procedures designed to minimise or manage any potential impact on the charity, should those risks materialise.
Key controls include:
Vetting procedures, as required by law, for the protection of pupils.
Formal written procedures, including for non-financial risks such as fire, health and safety, safeguarding of pupils and regular awareness training for all staff.
Established organisational structure and lines of reporting.
Regular reviews of policies and procedures to monitor and control risks.
Formal agendas for meetings of the Board and for committees.
Detailed terms of reference for all committees of the Board.
Regular strategic planning, budgeting, management accounting and detailed budgetary reviews.
To manage financial risk, a regular review of available liquid funds to settle debts as they fall due and active management of trade debtor and creditor balances to ensure sufficient working capital by the charity.
Clear authorisation and approval levels.
Engagement of external professional advisors as and when necessary (included external audit such as H&S, Safeguarding, Cyber securite).
Impact of UK Immigration laws and regulations
The trustees monitor on an ongoing basis the implications of UK immigration laws and regulations on the school’s future operations, particularly on pupil places and the recruitment and retention of staff.
The school has taken various measures to attract new pupils, including increased and focused marketing, adapting its teaching offer to encourage pupils to transfer from the UK education system, adjusting the number of classes per level in response to demand. It expanded its current nursery provision by opening a new nursery class from September 2023.
The school has not experienced difficulties in recruiting or retaining staff. The trustees believe that the local labour pool combined with staff hired through the school's Skilled Workers Immigration Sponsor Licence granted in 2021 should be sufficient for its future needs.
Therefore, the trustees consider that the potential adverse impact on future operations is manageable and that the school will be able to adapt to changing market conditions.
Potential impact of inflation, rise in taxes and levy on VAT
Trustees acknowledge and recognise the impact of inflation, rise in taxes, suppression of the tax relief on business rate and the impact of VAT on families’ available income and ability to afford school fees. Each year, the school is trying to limit fee increases to a reasonable amount in order to impact families as little as possible. For FY 25/26, the trustees decided not to increase the school fees (before VAT).For FY 26/27, the trustees decided to increase the school fees before VAT by 4%, which is less than the last 2 years of UK inflation.
During the school year 2025-2026, the school will continue its aim to provide an excellent French bilingual education in the Primary section and to provide further English and multilingual options in the Secondary section.
The management team implements a new Strategic Plan (Projet d’Etablissement) for 2025-2028. The key areas of development are: an ambitious curriculum for all pupils; personalise support for pupils; measure performance and progress; prepare for the next stage of schooling; enrich educational pathways (citizenship,health, digital technology, arts); train staff and strengthen interactions with the network.
FECT Scholarships
Starting from 2025/2026, CFBL will offer various scholarships based on pupils’ educational merit or excellence, subject to funding. These scholarships will be awarded to students in 6e from 2025/2026 onwards and run for the remaining duration of their schooling at CFBL. The progress of pupils receiving scholarships will be reviewed at least annually to ensure their progress is in line with their abilities.
Governing document
The charity is controlled by its governing documents, the memorandum and articles of association and is constituted as a company limited by guarantee, as defined by the Companies Act 2006. Under its articles of association, all trustees are also members and cease to act as members when they cease to be trustees.
The Trustees, who are also the Directors and Members for the purpose of company law, and who served during the year were:
Key management personnel:
Senior management personnel of the Charity:
Mr D Gassian Headteacher (since 01.09.2021)
Ms Lacassagne,Deputy Head, primary and nursery sections (since 01.09.21)
Mr P Allegre, Deputy Head, Secondary section (from 01.09.24)
Mrs L Ladecky, Head of Finance & Administration (since 01.09.21)
Mrs V Baudin, Company secretary and Legal manager (since 26.11.18)
Trustee training and recruitment
The trustees recognise that the governing body requires breadth and depth of experience to carry out its duties effectively and efficiently. Under the revised articles, the board comprises an equal number of elected parents (“Parent trustees”) and non-parent individuals (“Non-Parent trustees”). When recruiting new trustees, a passion for the work of the school and an understanding of the education sector is important.
When a Parent trustee retires, the school, in conjunction with its parents’ association, contacts the parental community to ask for suitable candidates to present themselves for election by the other parents. The elected candidate(s) is then submitted to the appointment of the Parent trustees.
When a Non-Parent trustee retires, the Non-Parent trustees co-opt a new Non-Parent trustee based on his/her skills after consulting KT Educational Charitable Trust (KTECT). The designation of the Chair and Treasurer amongst the Non-Parent Trustees is submitted to the prior approval of KTECT.
The clerk to the governors is responsible for the induction of new governors, who are briefed individually. The clerk also provides the board with guidelines on effective trusteeship and information on training and best practice. Trustees are encouraged to attend school events.
Organisational structure
The names of the current directors and those who held office during the financial year are set out above.
The directors, who are the trustees for the purposes of the Charities Act 2011, conduct the operations of the charity. Full-time paid employees undertake day-to-day management of the school. The board of directors usually meets at least twice per school term to discuss the affairs of the charity as a whole.
There are a number of committees, which meet regularly and report to the board. The principal committees are the finance committee, the health and safety committee, safeguarding committee and the human resources committee, all of which meet at least once per term.
The day-to-day running of the school is delegated to the headteacher and the senior management team.
Pay policy for senior staff
The senior management team comprises the key management personnel of the charity in charge of directing, controlling, running and operating the charity on a day-to-day basis.
The salaries of all the members of senior staff are reviewed annually by the charity's human resources committee and increased in accordance with its pay policy.
Related parties and co-operation with other organisations
None of our trustees receives remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity with a head teacher, teachers, etc. must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year, no such connection was reported other than each Parent trustee having at least one child on the school roll.
The charity has a close relationship with Lycée International de Londres, which shares the charity’s passion for education and where many of the charity’s students continue their education when they finish their schooling at the Collège Français Bilingue de Londres. This collaboration aims to maximise the benefits to young people in their respective local communities.
KT Educational Charitable Trust (KTECT), previously known as French Education Property Trust (FEPT), is the school’s landlord under a lease for the premises at 87 Holmes Road, London NW5 3AX between KTECT and the charity.
A resolution proposing that KLSA LLP will be reappointed as auditors of the company will be put to the charity's members at the next AGM.
The Trustees report was approved by the Board of Trustees.
The Trustees, who are also the directors of College Francais Bilingue de Londres Ltd for the purpose of company law, are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Charity Trustees' to prepare accounts for each financial year, which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these accounts, the 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; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these 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 UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Opinion
We have audited the financial statements of College Francais Bilingue de Londres Ltd (the ‘charity’) for the year ended 31 August 2025, which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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.
In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 require us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any material respect with the Trustees report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.
As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the charity for the purpose 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
To identify risks of material misstatement due to any irregularities, including fraud and non-compliance with laws and regulations, we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector; and
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Charities Commission Act 2011, Companies Act 2006, data protection, employment, health and safety legislation and OFSTED reports.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
reviewed the financial statements disclosures and determining whether accounting policies have been appropriately applied.
obtaining third-party confirmation of material bank balances.
To address the risk of non-compliance with laws and regulations, we communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.
Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation) and taxation legislation (including payroll taxes) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statements items.
Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or the loss of the Company’s license to operate. We identified the following areas as those most likely to have such an effect: OFSTED Inspections and healthcare and safety legislation regulations. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards; for instance, any non-compliance with laws and regulations and fraud which is far removed from transactions reflected in the financial statements would diminish the likelihood of detection. Furthermore, the risk of not detecting a material misstatement due to fraud is greater than the risk of not detecting one resulting from error.
Fraud may involve deliberate concealment by, for example, forgery or intentional omissions, misrepresentation, or through an act of collusion that would mitigate internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
KLSA LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Incoming resources from charitable activities French School
Investment and rental income
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
College Francais Bilingue de Londres Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 87 Holmes Road, London, NW5 3AX.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
The financial statements have been prepared in accordance with the Charity's deeds, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
In assessing the Charity's ability to continue as a going concern, the Board of Governors have considered the financial position and performance of the Charity.
The charity is self-financed through it's operation is therefore independent of any external financial support.
On the basis of this, the trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. These financial statements are prepared on the going concern basis.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income from school fees is recognised in the period to which it relates.
Income comprises donations, school fees, registration fees, deposits and related charges, extra-curricular activities and catering income.
Donations are recognised when the Charity has confirmation of both the amount and settlement date.
Donated equipment and facilities provided to the Charity are recognised in the period when it is probable that the economic benefits will flow to the Charity, provided they can be measured reliably. This is normally when the equipment is provided/the facilities are used by the Charity. An equivalent amount is included in fixed assets or as an expenditure.
Donated equipment and facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain facilities or services of equivalent economic benefit on the open market.
School fees and other charges are credited to the statement of financial activities on an accruals basis.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Rental income represents amounts receivable from from rent charged to the French community that uses the school premises for French and German lessons.
Deferred income
School fees and registration fees is billed in advance of the oncoming school term and are recognised in the accounting period to which they relate.
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Charitable expenditure comprises expenditure incurred in carrying out the school's main activity of the provision of education and comprises:
- Teaching costs - the cost of teaching and support staff salaries, included pension and national insurance costs, books and other tuition expenses, and the cost of games and activities.
- Welfare costs - all domestic costs associated with the school, including employment costs, consumables and catering costs
- Premises costs - all domestic costs associated with the premises, grounds and estates.
- School management and administration - the costs of general administration and management of the school.
- Governance costs include costs which are directly attributable to legal procedures necessary for compliance on statutory requirements.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charitys balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented 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.
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Provisions are recognised when the Charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
The pension scheme provider for the Charity's teaching staff is the Aviva Life & Pensions UK Ltd and for its non-teaching staff is the Teachers' Pension Scheme . Both schemes operate as defined contribution schemes and the Charity makes contributions for those members of staff who elect to join those schemes.
Contributions are charged to the statement of financial activities when they are payable to the schemes. The Charity has no liability beyond making its contributions to each scheme and paying across the deductions for the employee contributions.
Funds accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. In the previous financial year, the Charity used the grants, donations and gifts it received to acquire fixed assets and the related funds were classified as restricted. The annual depreciation expense for such fixed assets reduces the balance of those restricted funds.
Comparatives
There were no changes in presentation in the current year.
In the application of the Charitys 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Management has recognised provisions for dilapidations and major repairs in its financial statements which requires management to make judgements. The judgements, estimates and associated assumptions necessary to calculate these provisions are based on historical experience and other reasonable factors.
Management reviews the useful lives and residual lives of the items of Improvement in property and plant and machinery on a regular basis.
Management reviews their portfolio of receivables on a regular basis. In determining whether receivables are impaired and provision for bad debts is recognised, management makes judgements as to whether there is any evidence indicating that there is a measurable decrease in the estimated future cash flows expected.
Incoming resources from charitable activities French School
Income within charitable activities
School fees comprise of education and lunch fees. Other income relating to income within charitable activities amounting to £736,760 (2024: £682,799) comprises mainly of payments from pupils' families to cover after-school club activities.
The rental income was received from hire of part of the school’s premises to the French Institute while the interest income was earned from treasury deposits and from saving accounts.
Miscellaneous income
The other income mainly relates to;
1) Charitable donation of £150,000 received from the landlord KTECT as approved by the KTECT Trustees used for educational improvements of which £50,000 was used in marketing.
2) Release of historical liability balances which are no longer payable amounting to £52,000.
Governance costs
Catering costs
Premises costs
Staff costs relate to salaries, social security costs and pension for Teachers and Technical staff.
Premises costs relate mainly to rent costs of the building, rent cost of the sports hall, utilities costs, maintenance costs, insurance costs and business rates. From April 2025, charitable business rates relief for private schools in England was withdrawn.
None of the Trustees (or any persons connected with them) received any remuneration from the Charity during the year. In the year no trustees were reimbursed for expenses from the Charity during the year, for hotel and travel costs when attending meetings at the School.
The average monthly number of employees during the year (not FTE employees) was:
The key management personnel of the Charity comprise the Trustees, Head teacher, two Deputy Heads and the Head of Finance & Administration, Human Resource Manager, Legal & admin Manager and Marketing, Communication and Admission Manager. The total basic remuneration of key management personnel during the period was £532,650 (2024: £530,810).
The Charity is exempt from corporation tax on its charitable activities.
In the opinion of the trustees, there is no impairment in the value of tangible fixed assets.
Other debtors includes VAT refund of £55,000 (From 1 January 2025, private schools became subject to VAT at the standard rate following the removal of the previous exemption).
Prepayments comprise mainly of use of an external gym, business rates (significant impact from the withdrawal business rates relief for charities since April 2025), professional fees and insurance expenses.
Deferred income is included in the financial statements as follows:
The provision is intended to meet the Charity's obligations regarding repairs, redecoration and dilapidation costs having regard to the current condition of the premises and due consideration for compliance with the dilapidations liabilities within the relevant lease covenants. A report of the estimated cost was obtained on 24 May 2017 from Gerald Eve LLP Chartered Surveyors. FRS102 requires that basic debt instruments, including provisions for liabilities be measured at amortised cost using the effective interest rate.
FRS 102 has specific requirements for transactions that, in effect constitute a financing transaction. Such transactions must be measured at the present value of future cash flows at a market rate of interest that would apply to a similar debt instrument.
Accordingly, the provision for dilapidations estimated by the Surveyor have been discounted using the market interest rate.
The Charity's premises lease with its landlord KTECT was renewed on 1st September 2018 for a period of 30 years. The increase in the provision for the dilapidations at 31 August 2025 reflects the net present value based on discounting over a shorter remaining lease period than at 31st August 2025. This provision for dilapidation was reviewed by a surveyor in 2025 and the present value was adjusted accordingly.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
A Welfare Fund (the French Scholarship Foundation, a charity which is independent of the school) offers financial assistance to pay school fees to pupils' families who encounter exceptional financial difficulties during their time of study.
KTECT made a donation of £50,000 to support CFBL's campaign communication towards new families.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At the reporting end date, the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
There are no related party transactions in the reporting period that require disclosure.
The charity had no debt during the period.