Charity registration number 307034
Company registration number 00902869 (England and Wales)
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
J A B Bruce BSc FCA
Mrs K Hogan BA
J A Passam BA MBA
J H L Patrick MVO BSc (Chairperson from 8 July 2022)
C S Rix MA
W J Griffiths BSc
A-C Stromeyer-Sallaba MSc
B N Selman BCom FCA
C C D Fowler BA
Mrs K E Langmead BA
C A Franks
Secretary
G P Falconer
Charity number
307034
Company number
00902869
Principal address
Westbourne House School
Coach Road
Shopwyke
West Sussex
Chichester
PO20 2BH
Registered office
Westbourne House School
Coach Road
Shopwyke
West Sussex
Chichester
PO20 2BH
Auditor
Sumer Audit
Piper House
4 Dukes Court
Bognor Road
Chichester
West Sussex
PO19 8FX
Bankers
National Westminster Bank Plc
5 East Street
Chichester
West Sussex
PO19 1HH
Investment advisors
Rathbone Brothers Plc
8 Finsbury Circus
London
EC2M 7AZ
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
CONTENTS
Page
Trustees' report
1 - 5
Statement of Trustees' responsibilities
6
Independent auditor's report
7 - 10
Statement of financial activities
11
Balance sheet
12
Statement of cash flows
13
Notes to the financial statements
14 - 30
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2025
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust'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)".

Objectives and activities

The aim of the School is to stimulate and encourage children to maximise their potential in mind, body and spirit through a broad and varied curriculum. The School wishes to provide this quality of education for an ever wider range of children while at the same time being a responsible employer and an integral member of the local community.

The Trustees are fully committed to operating the School in the spirit of the Charities Act 20 11 and for the public benefit in its broadest sense. They believe the benefits of the charity to the pupils of the School are clear and some of their achievements are mentioned below as are the steps the Trustees are taking to widen access to the charity's benefits by making both facilities and the provision of education itself available to greater numbers of children. The Trustees recognise, however, that a balance must be struck between offering free or reduced-fee places and maintaining sufficient income to sustain the financial health of the charity. This year, the School has strengthened its links with local community schools, mainly by sharing sports and leisure facilities and is very open to involvement in other ways. The Trustees are able to confirm that all of the expenditure detailed in these accounts was used in furtherance of the Trust's objectives.

In furtherance of the Trust's objectives, the Trustees have continued to upgrade the School’s facilities. During the year, this programme included the installation of a 100kW ground-mounted PV solar system, the construction of a Tensile Fabric Pavilion with adjoining large patio and the construction of a large outdoor play area for the Pre-Prep. There were other site enhancements including the laying of a new link-path between the Main Building and the Orchard Area and the installation of an integrated School Lockdown System.

The Trust constantly monitors trends and developments in education and where these have proved advantageous, they have been adopted. In funding improvements, it has always been the policy to generate sufficient surpluses to fund the costs of developments. There has been no change to these policies during the year.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Trustees to present a strategic report.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
Achievements and performance

The primary charitable activity of the Trust during the year has been the education of the (on average) 345 children at Westbourne House School. Overall pupil numbers increased steadily during the year, with a net gain of 6 pupils. Although our end of year pupil numbers are strong, we anticipate slightly weaker numbers in the next 2 years as the detrimental effects of the Government’s decision to impose VAT on fees forces some parents out of the Independent Schools Sector.

On the overseas front, there was a steady uptake from Asia and good numbers from Spain. The School has an effective range of agents and contacts to fulfil our overseas target for 25/26. UK agents have also been engaged to help increase our intake from the Foreign, Commonwealth and Development Office, UK Armed Forces and blue-chip companies.

At the end of the year, all 44 pupils in Year 8 passed the Scholarship or Common Entrance examination to gain places at senior school. Twenty pupils won a total of 34 awards from their senior school in recognition of their ability and potential.

There has been considerable success on the sports fields for both our teams and individuals. Pupils have competed at district and county level in a range of competitive sports including netball, sailing, swimming and hockey, with 2 boys representing the Sussex Lions at football. This was also a good year for our athletes, with a record number qualifying for the National Athletics Finals in Birmingham. Our largest numbers in terms of representational honours, however, were in cricket with 15 boys and girls involved in cricket at county level. This balanced curriculum also included a structured programme of outdoor education and leadership activities for Years 3 to 8. This included a series of residential trips throughout the South of England.

These are considerable achievements and support the Senior Management and Trustees’ aim of maximising pupil potential in all regards.

School and Community Support

The School seeks to promote a family atmosphere within its community and enjoys an excellent relationship with its employees. Staff turnover remains low; few teachers leave other than on promotion or retirement and there is a good record of internal promotion. The School maintains a close relationship with parents and with former pupils and continues to strengthen its ties with the Old Westbournian community.

The pastoral team continue to help pupils manage the challenges of school life, providing emotional support required to help forge good mental health and wellbeing. Westbourne House is very conscious and proud of its place in the wider community. During 2024-25, the sports facilities were fully booked by local clubs and teams, including squash, badminton, football, hockey, rugby, cricket and swimming. In some cases, a charge is made to defray a proportion of running expenses, but each week the School provides recreational opportunities to hundreds of people from the local area. The Millennium Hall continues to be a popular venue for festivals of music, drama and dance as well as fund-raising events for charities and the School looks forward to playing a greater role in the cultural life of Chichester. The hire of facilities for charitable and fund-raising activities is generally free, or at a greatly reduced rate.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -

Public Benefit

The School has an excellent record of facilitating access for children from a wide range of social and financial backgrounds, including the most disadvantaged, to provide them with the opportunity to benefit from the full breadth of a Westbourne House education with appropriate bursary and scholarship assistance. Bursary awards are made on the basis of parental means or to relieve hardship where a pupil's education and future prospects would otherwise be at risk. In assessing means, a number of factors are taken into consideration including family income, investments and assets, together with family circumstances, as the School seeks to ensure opportunities are given to pupils across the full spectrum of affordability and social background. Means tested support is reviewed on a periodic basis to identify any significant change in financial circumstance. During the year, 73 children received assistance from the School in the form of scholarships or bursaries while a further 23 children paid discounted fees. Six children benefited from bursaries worth 75-100% of the fees, including two Ukrainian children who joined the School following the Russian invasion of their country. The Trustees continued their policy of widening access to the School by advertising further substantial awards.

Pupils, parents and staff again organised a wide variety of fundraising activities for this year's School charities, including Home-Start Chichester and District, Thembalitsha Foundation, Surfers Against Sewage and the School's own Bursary Fund. The School continues to fundraise and has amassed sufficient funds over the last 2 years to donate £78,104 to good causes.

Westbourne House contributes significantly to the local economy. Its employees predominantly live in the Chichester area and the School has a policy of purchasing goods and services locally wherever possible.

We know that meeting the cost of a first-class independent education is a major investment for all our parents, and that many have to make significant sacrifices to meet this. And we also recognise that tax changes have significantly added to this cost. We are therefore continually seeking efficiency improvements in our educational provision and in the wider School operations.

Financial review

The operating activities of the Trust generated an income of £6.308 million and this resulted in a deficit on unrestricted funds of £362,953 and a surplus on restricted funds of £33,997 (total deficit for the year being £328,956). There was a decrease in operating income of £400,177 relative to last year. Staff restructuring costs of £140,000 are included within these figures, which will go on to reduce staff costs in 2025-26 by over £330,000. The Trustees will continue to bear down on costs and seek further savings where they lie in order to ensure the financial health of the school for the long term.

Total balances held with National Westminster Bank as at 31 August 2025 were £750,909, with further £3.536 million held in investments and cash with Rathbones. The Trust made an investment gain during the period of £29,696.

Total reserves at the balance sheet date are £13,658,621 (2024 - £13,987,577), of which £13,299,259 (2024 - £13,731,124) are unrestricted and £151,371 (2024 - £117,374) are restricted. Designated funds total £207,991 (2024 - £139,079).

It is the policy of the charity that free reserves should be maintained at a level equivalent to at least three months’ expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities whilst consideration is given to ways in which additional funds may be raised. As at 31 August 2025, free reserves stood at £2.731 million representing the charity’s unrestricted funds less fixed assets (£10,775,949).

The day-to-day finances of the charity are managed by the Bursar and the Finance Manager. The Bursar reports regularly to the Finance Committee. Budgeting and careful control of expenditure are key policies for the charity.

The charity's principal funds are generated from fees charged to parents of pupils. All expenditure in the year, other than governance costs, has been incurred specifically to meet the charity's key objective of educating children up to the age of 13.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -

The Trustees consider that the market value of the land and buildings substantially e xceeds the book value of £9.860,210.

Risk review

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

This year’s Risk Review continues to be dominated by the fallout from the Labour Party’s decision to remove the VAT exemption for education and boarding services provided by private schools and remove the eligibility of private schools that are charities for business rates charitable relief, whilst increasing the Employers’ Rate of National Insurance. Notwithstanding this, the trustees and senior leadership team are committed to continuing to provide the education which Westbourne House has always provided. Our risk assessments and financial planning will continue to consider the practical implications of these changes which are considered to be:

- a reduction in pupil numbers and resultant loss in fee income due to an adverse change to the VAT regime and business rates policy described above.

- a major incident which causes closure of the School and/or severe loss of confidence by parents.

- a major accident which causes partial or complete closure of the School.

Plans for the future

Westbourne House plans to strengthen its position in the Preparatory School sector by employing sufficient teaching staff of the right calibre and expertise to inspire our pupils and by ensuring a high standard of facilities through continuous upkeep of the buildings and grounds. Our objectives are set out on Page 1.

Our commitment to the broader community through charity fundraising will continue. A portion of our fundraising will be used to support the Bursary Fund which the Trustees see as being an important aspect of widening access to the School.

Structure, governance and management

The Trust is a registered charity and a company incorporated under the Companies Acts 1985 to 2006, limited by guarantee. The Trust's governing document is its Memorandum and Articles of Association. The Trust's objects are to provide high quality education for children up to the age of 13 years, through the medium of Westbourne House School, and to prepare children for entry to Public and State schools.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

J A B Bruce BSc FCA
Mrs K Hogan BA
J A Passam BA MBA
J H L Patrick MVO BSc (Chairperson from 8 July 2022)
Mrs S L Morison BA
(Resigned 1 October 2025)
C S Rix MA
W J Griffiths BSc
A-C Stromeyer-Sallaba MSc
B N Selman BCom FCA
C C D Fowler BA
Mrs K E Langmead BA
(Appointed 1 October 2025)
C A Franks
(Appointed 1 February 2026)

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -

The Trustees desire that the Board should represent a wide spectrum of appropriate interest and experience including business and administration, education, the law, the arts and, especially, a strong feeling for the School and its aims. The majority of trustees have had children at the School and it is the policy that one or two trustees should be current parents. Trustees may be nominated by anyone connected with the School and nominations are considered by a small committee of Trustees who take soundings from interested parties, including the Headmaster, before recommending a name to the full board. The induction and training of new trustees is in five overlapping phases: a detailed introduction to the School by the Headmaster and Bursar, mentoring by the Chairperson of Governors and by the chairperson of committees in their respective areas, frequent visits to the School and regular contact via newsletters etc, attendance at events organised by training bodies, and self-study of training materials. In the last Independent Schools Inspectorate inspection from 14 to 16 October 2025, the School was found to meet all of the necessary standards.

The Trust is governed by a Board of Trustees (Governors) who determine the policy and strategies of the School. The Board is supported by the Finance and General Purposes Committee and by the Academic and Pastoral Committee. The operational management of the School is directed by the Headmaster, Mr Martin Barker (Chief Executive Officer) and the Bursar, Mr Gordon Falconer (Chief Operating & Finance Officer) who manage a total of 62 teaching staff and 82 support non-teaching staff, both full and part time.

Remuneration is set by the Board, with the policy objective of ensuring appropriate incentives to encourage enhanced performance and in a fair and responsible manner, rewarding for individual contributions to the School’s success. The appropriateness and relevance of the remuneration policy is reviewed regularly by the Remuneration Sub-Committee, including reference to comparisons with other independent schools to ensure that Westbourne House remains sensitive to the broader issues of pay and employment conditions elsewhere. We aim to recruit, subject to experience, at a position within a pay band in order to be able to reward staff for excellence. Delivery of the Company’s charitable vision and purpose is primarily dependent on our key management personnel and staff costs are the largest single element of our charitable expenditure.

There are no restrictions on the investment powers of the Trustees. The current strategy is focused on long term capital growth with Rathbones on a Risk 5 Investment Strategy (on a scale of 1 to 6). The investment horizon is long term, with an objective of CPI + 4% per annum net of all fees over a 3 year rolling basis. The Trustees keep the performance of investments under regular review in order to manage risk and maximise return.

Asset cover for funds

Note 26 sets out an analysis of the assets attributable to the various funds and a description of the Trusts. These assets are sufficient to meet the charity's obligations on a fund by fund basis.

Auditor

In accordance with the company's articles, a resolution proposing that Sumer Audit be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

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

The Trustees' r eport, including the strategic report, was approved by the Board of Trustees.

J H L Patrick MVO BSc (Chairperson)
Trustee
Dated: 20 March 2026
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -

The Trustees, who are also the directors of Westbourne House School Educational Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report 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 which give a true and fair view of the state of affairs of the Trust 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; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust 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 Trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
- 7 -

Opinion

We have audited the financial statements of Westbourne House School Educational Trust Limited (the ‘Trust’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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:

-

give a true and fair view of the state of the charitable company's affairs as at 31 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Trust 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 Trust’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, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
- 8 -

Opinions on other matters prescribed by the Companies Act 2006

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

-

the information given in the Trustees' r eport for the financial year for which the financial statements are prepared, which includes the d irectors' r eport and the strategic report prepared for the purposes of company law, is consistent with the financial statements; and

-

the strategic report and the d irectors' r eport included within the Trustees' r eport have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Trust and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the d irectors' r eport included within the Trustees' r eport.

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

-

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 s tatement of Trustees' r esponsibilities, the Trustees, who are also the directors of the Trust 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 Trust’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.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Identification and assessment of irregularities including fraud

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.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
- 9 -

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

· Obtaining an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements and operations;

· Obtaining an understanding of the charity's policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud;

· Discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud through our knowledge and understanding of the company and our sector-specific experience.

As a result of these procedures, we considered the opportunities and incentives that may exist within the association for fraud. We are also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: health & safety and employment law, as well as compliance with the UK Companies and Charities Acts.

In addition to the above, our procedures to respond to risks identified included the following:

· Making enquiries of management about any known or suspected instances of non-compliance with laws and regulations and fraud;

· Reviewing minutes of meetings of the board and senior management.

· Reading correspondence with regulators

· Challenging assumptions and judgements made by management in their significant accounting estimates; and

· Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.

Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
- 10 -

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 auditor's 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.

Robin Evans BA FCA CTA DChA (Senior Statutory Auditor)
for and on behalf of Sumer Audit
24 March 2026
Chartered Accountants
Statutory Auditor
Chichester
Sumer Audit is the trading name of Sumer Auditco Limited
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 11 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
1,778
12,537
14,315
5,625
20,173
25,798
Charitable activities
4
6,136,531
-
6,136,531
6,581,965
-
6,581,965
Other trading activities
5
-
80,379
80,379
-
-
-

Investment s

6
191,416
-
191,416
152,382
-
152,382
Other income
7
91,327
-
91,327
126,449
-
126,449
Total income
6,421,052
92,916
6,513,968
6,866,421
20,173
6,886,594
Expenditure on:

R aising funds

8
20,012
32,806
52,818
11,408
-
11,408
Charitable activities
9
6,793,689
26,113
6,819,802
6,461,193
69,437
6,530,630
Total expenditure
6,813,701
58,919
6,872,620
6,472,601
69,437
6,542,038
Net gains/(losses) on investments
14
29,696
-
29,696
157,547
-
157,547
Net income/(expenditure) for the year
(362,953)
33,997
(328,956)
551,367
(49,264)
502,103
Net movement in funds
(362,953)
33,997
(328,956)
551,367
(49,264)
502,103
Fund balances at 1 September 2024
13,870,203
117,374
13,987,577
13,318,836
166,638
13,485,474
Fund balances at 31 August 2025
13,507,250
151,371
13,658,621
13,870,203
117,374
13,987,577

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 12 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
17
10,775,949
10,723,198
Investments
18
3,535,917
3,397,853
14,311,866
14,121,051
Current assets
Debtors
20
2,116,771
2,128,671
Cash at bank and in hand
754,407
2,260,901
2,871,178
4,389,572
Creditors: amounts falling due within one year
21
(3,160,189)
(3,406,033)
Net current (liabilities)/assets
(289,011)
983,539
Total assets less current liabilities
14,022,855
15,104,590
Creditors: amounts falling due after more than one year
22
(364,234)
(1,117,013)
Net assets
13,658,621
13,987,577
Income funds
Restricted funds
25
151,371
117,374
Unrestricted funds
Designated funds
26
207,991
139,079
General unrestricted funds
13,299,259
13,731,124
Total unrestricted funds
13,507,250
13,870,203
13,658,621
13,987,577
The accounts were approved by the Trustees on 20 March 2026
J H L Patrick MVO BSc (Chairperson)
Trustee
Company Registration No. 00902869
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
31
(1,379,739)
1,818,270
Investing activities
Purchase of tangible fixed assets
(293,241)
(376,558)
VAT recovery on tangible fixed assets
83,438
-
Purchase of other investments
(521,414)
(2,164,366)
Proceeds on disposal of other investments
461,993
328,488
Dividends and interest received
191,416
152,382
Net cash used in investing activities
(77,808)
(2,060,054)
Net cash used in financing activities
-
-
Net decrease in cash and cash equivalents
(1,457,547)
(241,784)
Cash and cash equivalents at beginning of year
2,322,971
2,564,755
Cash and cash equivalents at end of year
865,424
2,322,971
Relating to:
Cash and Bank balances
754,407
2,260,901
Cash in Investment portfolio
111,017
62,070
865,424
2,322,971
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 14 -
1
Accounting policies
Charity information

Westbourne House School Educational Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Westbourne House School, Coach Road, Shopwyke, West Sussex, Chichester, PO20 2BH.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Trust'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)". The Trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary a mounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to 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.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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.

1.4
Income

Income, including grants, is recognised when the Trust 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.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Included in other income are recoverables which are shown net of expenditure. These are shown net because they are small amounts spent which are recoverable from the pupils and are included on the bills sent to parents.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 15 -
1.5
Expenditure

Liabilities are recognised when they are incurred and the costs are debited to the Statement Of Financial Activities in full in the year in which they relate to. Education equipment and materials and sports and games equipment incurred in June, July and August are treated as prepaid and are therefore debited to the Statement Of Financial Activities in the following financial year.

Charitable activities expenditure consists of providing education which is split between activities undertaken directly, grant funding of activities, support costs and governance costs. Activities undertaken directly includes the gross salary, employer's NI and employer's pension of the teaching staff, the depreciation of the computer equipment, education equipment and materials, sport and games equipment, educational visits and activities and provisions. Support costs includes all the other costs incurred except audit and accountancy fees which are included in Governance costs.

1.6
Tangible fixed assets

Tangible fixed assets other than freehold land are stated at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil
Leasehold property
15 years / 50 years straight line
Plant and machinery
25% Reducing balance / 10% straight line
Fixtures, fittings & equipment
10% Reducing balance
Computers
10% - 25% Straight line
Motor vehicles
25% Reducing balance

No depreciation is provided on freehold buildings on the grounds that it would be immaterial as the buildings have an estimated long remaining useful life and high residual value, in excess of their cost.

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.

1.7
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8
Impairment of fixed assets

At each reporting end date, the Trust 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).

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 16 -
1.10
Financial instruments

The Trust 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 Trust's balance sheet when the Trust 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

Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

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 p aymen ts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

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 Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13

Deferred income (Fees in advance)

Amounts received under the school's Fees in Advance Scheme are contracts for education not utilised to settle school fees and are recorded as deferred income and allocated as current liabilities where the education will be provided within 12 months from the reporting date and as long-term liabilities where the education will be provided in subsequent years.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 17 -
2
Critical accounting estimates and judgements

In the application of the Trust’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 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.

3
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
1,778
12,537
14,315
5,625
20,173
25,798
4
Charitable activities
2025
2024
£
£
Gross Fees receivable
6,796,452
7,223,978
Less: Bursaries, Scholarships and Discounts
(736,503)
(726,106)

Net Fees receivable

6,059,949
6,497,872

Recreational facilities

66,654
61,803

Summer camps and courses

9,928
22,290
6,136,531
6,581,965
5
Income from other trading activities
Restricted
Restricted
funds
funds
2025
2024
£
£
Fundraising events
80,379
-
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 18 -
6
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Income from listed investments
128,349
58,229
Interest receivable
63,067
94,153
191,416
152,382
7
Other income
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Other income
91,327
99,464

Letting of boarding facilities

-
26,985
91,327
126,449
8
Expenditure on raising funds
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Fundraising and publicity
Staging fundraising events
-
32,806
32,806
-
-
-
Investment management
20,012
-
20,012
11,408
-
11,408
Total costs
20,012
32,806
52,818
11,408
-
11,408
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 19 -
9
Expenditure on charitable activities
Providing education
Other charitable purposes
Total
Providing education
Other charitable purposes
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Direct costs
Staff costs
3,288,340
-
3,288,340
3,250,964
-
3,250,964
Depreciation and impairment
37,725
-
37,725
48,135
-
48,135

Education equipment and materials

163,336
-
163,336
200,664
-
200,664

Sport and games equipment

5,999
-
5,999
7,555
-
7,555

Educational visits and activities

36,480
-
36,480
56,490
-
56,490

Provisions

255,522
-
255,522
261,563
-
261,563
3,787,402
-
3,787,402
3,825,371
-
3,825,371
Grant funding of activities (see note 10)
25,763
350
26,113
-
60,567
60,567
Share of support and governance costs (see note 11)
Support
2,979,511
-
2,979,511
2,623,198
-
2,623,198
Governance
26,776
-
26,776
21,494
-
21,494
6,819,452
350
6,819,802
6,470,063
60,567
6,530,630
Analysis by fund
Unrestricted funds
6,793,689
-
6,793,689
6,461,193
-
6,461,193
Restricted funds
25,763
350
26,113
8,870
60,567
69,437
6,819,452
350
6,819,802
6,470,063
60,567
6,530,630
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 20 -
10
Grants payable
Providing education

Other charitable purposes

Other charitable purposes

2025
2025
2024
£
£
£
Grants to institutions:
Other grants
-
350
265
Chestnut Tree House - Children's hospice
-
-
20,101
Global Canopy - targeting reducing deforestation
-
-
20,101
West Sussex Mind - mental health support & awareness
-
-
20,100
-
350
60,567
Grants to individuals
25,763
-
-
25,763
350
60,567

The grants payable to individuals of £25,763 (2024 - £0) are restricted grants to pupils for their fees and expenses paid out of the Bursary Fund.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 21 -
11
Support costs
Support costs
Governance costs
2025
Support costs
Governance costs
2024
£
£
£
£
£
£
Staff costs - Support
1,495,680
-
1,495,680
1,272,673
-
1,272,673
Staff costs - Welfare
411,333
-
411,333
360,616
360,616
Staff costs - Holiday pay provision
-
-
-
(50,000)
-
(50,000)
Depreciation
119,327
-
119,327
117,863
-
117,863

Rates

198,043
-
198,043
98,755
-
98,755

Insurance

51,394
-
51,394
46,101
-
46,101

Light and heat

201,841
-
201,841
189,700
-
189,700

Repairs and maintenance

160,190
-
160,190
173,691
-
173,691

Printing, postage, stationery, advertising and website

69,102
-
69,102
83,528
-
83,528

Telephone and fax

14,401
-
14,401
13,257
-
13,257

Motor expenses

47,890
-
47,890
37,302
-
37,302

Legal and professional fees

83,250
-
83,250
61,539
-
61,539

School inspection

5,193
-
5,193
5,700
-
5,700

Household expenses

54,423
-
54,423
51,894
-
51,894
Cleaning contracts
7,453
-
7,453
7,527
-
7,527
Upkeep of grounds and pool
47,867
-
47,867
94,586
-
94,586
Bad debts
-
-
-
6,430
-
6,430
Sundry expenses
38,280
-
38,280
41,942
-
41,942
Irrecoverable VAT
18,071
-
18,071
-
-
Pre Registration VAT recovered
(55,506)
-
(55,506)
-
-
Bank charges
11,279
-
11,279
10,094
-
10,094
Audit fees
-
8,846
8,846
-
7,100
7,100
Accountancy
-
17,930
17,930
-
14,394
14,394
2,979,511
26,776
3,006,287
2,623,198
21,494
2,644,692
Analysed between
Charitable activities
2,979,511
26,776
3,006,287
2,623,198
21,494
2,644,692

Governance costs includes payments to the auditors of £8,846 (2024- £7,100) for audit fees and £17,930 (2024- £14,394) for other services.

12
Trustees

None of the Trustees (or any persons connected with them) received any remuneration, benefits or refund of expenses from the Trust during the year.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 22 -
13
Employees
Number of employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Teaching staff
62
66
Admin and support staff
52
46
Welfare staff
30
24
144
136
Employment costs
2025
2024
£
£
Wages and salaries
4,218,913
4,018,882
Social security costs
399,762
373,363
Other pension costs
453,006
433,980
Other staff costs
123,672
58,028
Holiday pay provision
-
(50,000)
5,195,353
4,834,253

During the year there was redundancy expenditure of £100,289 (2024 - £11,500) of which £13,500 (2024 - £11,500) is included in creditors in the balance sheet.

The total number of full time equivalent staff was 99 (2024 - 97). This comprised teaching staff of 49 (2024 - 52), admin and support staff of 36 (2024 - 32) and welfare staff of 14 (2024 - 13).

The number of employees whose annual remuneration was £60,000 or more were:
2025
2024
Number
Number
£70,000 - £80,000
3
3
£80,000 - £90,000
2
1
£120,000 - £130,000
1
-
£130,000 - £140,000
-
1

During the year, the charity paid £134,207 (2024 - £117,901) pension contributions for 6 (2024 - 5) members of staff earning over £60,000.

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
531,435
534,458
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 23 -
14
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
2025
2024
Gains/(losses) arising on:
£
£
Revaluation of investments
58,949
137,278
Sale of investments
(29,253)
20,269
29,696
157,547
15
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

16
Prior Year Adjustment

The financial statements include a restatement for the comparative period which has been made to correct trade debtors and deferred income to reflect the timing of invoicing. The restatement has resulted in a £1.7m increase to trade debtors and deferred income. There is no impact on the comparative period carried forward reserves.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 24 -
17
Tangible fixed assets
Freehold land and buildings
Leasehold property
Plant and machinery
Fixtures, fittings & equipment
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 September 2024
9,819,302
538,604
753,219
819,887
446,483
159,811
12,537,306
Additions
61,680
-
184,361
25,288
21,912
-
293,241
VAT recovery
(20,772)
-
(18,766)
(19,205)
(14,861)
(9,834)
(83,438)
Disposals
-
-
(2,495)
(4,782)
(84,168)
(22,323)
(113,768)
At 31 August 2025
9,860,210
538,604
916,319
821,188
369,366
127,654
12,633,341
Depreciation and impairment
At 1 September 2024
-
255,226
560,006
536,535
365,761
96,580
1,814,108
Depreciation charged in the year
-
5,298
69,541
28,749
37,725
13,345
154,658
Eliminated in respect of disposals
-
-
(2,030)
(2,929)
(84,108)
(22,307)
(111,374)
At 31 August 2025
-
260,524
627,517
562,355
319,378
87,618
1,857,392
Carrying amount
At 31 August 2025
9,860,210
278,080
288,802
258,833
49,988
40,036
10,775,949
At 31 August 2024
9,819,302
283,378
193,213
283,352
80,722
63,231
10,723,198
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 25 -
18
Fixed asset investments
Listed investments
Cash in portfolio
Total
£
£
Cost or valuation
At 1 September 2024
3,335,783
62,070
3,397,853
Additions
521,414
-
521,414
Valuation changes
58,949
-
58,949
Increase in portfolio cash
-
48,947
48,947
Disposals
(491,246)
-
(491,246)
At 31 August 2025
3,424,900
111,017
3,535,917
Carrying amount
At 31 August 2025
3,424,900
111,017
3,535,917
At 31 August 2024
3,335,783
62,070
3,397,853
Fixed asset investments revalued

The investments are included at middle price market value at 31 August 2025. The historical cost of these investments is £3,344,471 (2024 - £3,262,437)

19
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
3,424,900
3,335,783
20
Debtors
restated
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,801,204
1,856,238
Other debtors
47,173
83,215
Prepayments and accrued income
268,394
189,218
2,116,771
2,128,671
21
Creditors: amounts falling due within one year
restated
2025
2024
Notes
£
£
Other taxation and social security
226,219
98,078
Deferred income
23
2,085,168
2,548,861
Trade creditors
59,407
62,591
Other creditors
713,529
644,001
Accruals
75,866
52,502
3,160,189
3,406,033
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 26 -
22
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Deferred income
23
364,234
1,117,013
23
Deferred income
restated
2025
2024
£
£
Arising from Fees in advance
2,449,402
3,665,874

Deferred income is included in the financial statements as follows:

restated
2025
2024
£
£
Deferred income is included within:
Current liabilities
2,085,168
2,548,861
Non-current liabilities
364,234
1,117,013
2,449,402
3,665,874
Movements in the year:
Deferred income at 1 September 2024
3,665,874
-
Released from previous periods - utilised in fees
(2,654,550)
-
Resources deferred in the year - new contracts
1,438,078
3,665,874
Deferred income at 31 August 2025
2,449,402
3,665,874

Parents may enter into a contract to pay to the school up to the equivalent of three years' tuition fees in advance. The money may be returned subject to specific conditions and on the receipt of one term's notice. The balance represents the accrued liability under the contracts.

24
Retirement benefit schemes
Defined contribution schemes

The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Trust in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £453,006 (2024 - £433,980). At the balance sheet date there were accrued pension contributions of £65,370 (2024 - £62,878).

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 27 -
25
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Movement in funds
Balance at
1 September 2023
Incoming resources
Resources expended
Transfers
Balance at
1 September 2024
Incoming resources
Resources expended
Transfers
Balance at
31 August 2025
£
£
£
£
£
£
£
£
£
Bursary Fund
89,966
302
-
4,967
95,235
165
(25,763)
14,986
84,623
Donations for new mugs
1,020
-
(1,020)
-
-
-
-
-
-
Donation for musical instruments
5,000
-
(5,000)
-
-
-
-
-
-
Fundraising for 2023/24 overseas trips
2,850
-
(2,850)
-
-
-
-
-
-
Charities Fund
67,802
19,871
(60,567)
(4,967)
22,139
92,751
(33,156)
(14,986)
66,748
166,638
20,173
(69,437)
-
117,374
92,916
(58,919)
-
151,371

Restricted Bursary Fund - The Bursary Fund provides financial support to help pupils overcome the specific financial barriers to participation they face so they can benefit from education at Westbourne House School. Bursary awards are made at the discretion of the Governors, who will calculate discount levels in relation to a family’s financial circumstances based on a means-test which includes a review of income and capital resources.

Restricted Charities Fund – Westbourne House School has an excellent history of raising money for worthwhile causes. The Charities Fund supports four charities which includes at least one child-centred charity, a local charity and an overseas one. The charities are chosen by the pupils and they plan and organise their own fundraising events. Pupils have fun raising money while gaining an early understanding of how they might make a difference to people’s lives.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 28 -
26
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September 2024
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 August 2025
£
£
£
£
£
£
Development Fund
92,719
-
-
34,456
-
127,175
Sustainability Fund
46,360
-
-
-
-
46,360
Provision for Astro Fund
-
-
-
34,456
-
34,456
General funds
13,731,124
6,421,052
(6,813,701)
(68,912)
29,696
13,299,259
13,870,203
6,421,052
(6,813,701)
-
29,696
13,507,250
Previous year:
At 1 September 2023
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 August 2024
£
£
£
£
£
£
Development Fund
-
-
-
92,719
-
92,719
Sustainability Fund
-
-
-
46,360
-
46,360
General funds
13,318,836
6,866,421
(6,472,601)
(139,079)
157,547
13,731,124
13,318,836
6,866,421
(6,472,601)
-
157,547
13,870,203

Development Fund - The Westbourne House School Development Fund helps us provide a safe, well-equipped, and pleasant environment for pupils and staff. The Fund can be used to support a variety of projects, ranging from the construction of new buildings to the redevelopment of existing structures. The Development Fund is managed by the Governing Body. Parents and friends of the School can contribute to the Fund through one-off donations or regular payments.

Sustainability Fund – The Westbourne House School Sustainability Fund helps us prepare for a greener future. The Fund aims to advance sustainability onsite, in the classroom, in residences and/or in the local community.

Provision for Astro Fund - The Westbourne House School Provision for Astro Fund aims to reserve funds in preparation for the replacement of the School’s astro-turf pitch which will reach its end of life in the next 3 to 5 years.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 29 -
27
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Fund balances at 31 August 2025 are represented by:
Tangible assets
10,775,949
-
10,775,949
10,723,198
-
10,723,198
Investments
3,535,917
-
3,535,917
3,397,853
-
3,397,853
Current assets/(liabilities)
(440,382)
151,371
(289,011)
866,165
117,374
983,539
Long term liabilities
(364,234)
-
(364,234)
(1,117,013)
-
(1,117,013)
13,507,250
151,371
13,658,621
13,870,203
117,374
13,987,577
28
Operating lease commitments
Lessee

At the reporting end date the Trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
4,420
11,970
Between two and five years
5,893
12,374
10,313
24,344

The operating lease payments recognised as an expense in the year were £11,380 (2024 - £11,970).

29
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of property, plant and equipment
-
130,956
30
Related party transactions
Transactions with related parties

Mr J Bruce has children that attend the school with fee arrangements being in accordance with the school’s normal terms.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 30 -
31
Cash generated from operations
2025
2024
restated
£
£
(Deficit)/surpus for the year
(328,956)
502,103
Adjustments for:
Investment income recognised in statement of financial activities
(191,416)
(152,382)
Loss on disposal of tangible fixed assets
2,394
1,820
Loss/(gain) on disposal of investments
29,253
(20,269)
Fair value gains and losses on investments
(58,949)
(137,278)
Depreciation and impairment of tangible fixed assets
154,658
164,178
Movements in working capital:
Decrease/(increase) in debtors
11,900
(1,777,501)
Increase/(decrease) in creditors
217,849
(378,275)
(Decrease)/increase in provisions
-
(50,000)
(Decrease)/increase in deferred income
(1,216,472)
3,665,874
Cash (absorbed by)/generated from operations
(1,379,739)
1,818,270
32
Analysis of changes in net funds

The Trust had no material debt during the year.

WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2025
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2025
2025
2024
£
£
Incoming resources
Gross Fees receivable
6,796,452
7,223,978
Less: Bursaries, Scholarships and Discounts
(736,503)
(726,106)
Net Fees receivable
6,059,949
6,497,872
Recreational facilities income
66,654
61,803
Summer camps and courses income
9,928
22,290
Donations receivable
14,315
25,798
Grants receivable
-
-
Other income
91,327
99,464
Letting of boarding facilities
-
26,985
Summer Ball income
80,379
-
Bank and other interest receivable
63,067
94,153
Listed investment dividends receivable
128,349
58,229
6,513,968
6,886,594
Expenditure on Raising funds
Summer Ball
32,806
-
Investment management fees
20,012
11,408
52,818
11,408
Charitable expenses
Wages and salaries (includes other staff costs and holiday pay provision)
4,342,585
4,026,910
Employer's NI
399,762
373,363
Staff pension
453,006
433,980
Rates
198,043
98,755
Insurance
51,394
46,101
Light and heat
201,841
189,700
Repairs and maintenance
160,190
173,691
Printing, postage, stationery and advertising
69,102
83,528
Telephone and fax
14,401
13,257
Motor expenses
47,890
37,302
Education equipment and materials
163,336
200,664
Sport and games equipment
5,999
7,555
Provisions
255,522
261,563
Household expenses
54,423
51,894
Cleaning contracts
7,453
7,527
Upkeep of grounds and pool
47,867
94,586
Bad debts
-
6,430
Educational visits and activities
36,480
56,490
School inspection
5,193
5,700
Sundry expenses
38,280
41,942
Irrecoverable VAT
18,071
-
Pre Registration VAT recovered
(55,506)
-
Depreciation
154,658
164,178
Loss on disposal of tangible fixed assets
2,394
1,820
WESTBOURNE HOUSE SCHOOL EDUCATIONAL TRUST LIMITED
(LIMITED BY GUARANTEE)
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2025
Legal and professional fees
83,250
61,539
Bank charges
11,279
10,094
Grants payable
26,113
60,567
6,793,026
6,509,136
2025
2024
£
£
Governance costs
Audit fees
8,846
7,100
Accountancy and other fees
17,930
14,394
26,776
21,494
Net gains / (losses) on investments
29,696
157,547
(Deficit)/Surplus for the year
(328,956)
502,103
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