Principal activities of the company

The Trust is a multi-academy trust, set up to enable the strategic collaboration between education organisations to maintain and improve educational standards. The Trust is at the core of an education hub, responsible for supporting, enabling, and driving excellence across all academy partners. Up until 31 March 2026 the Sixth Form College Farnborough, Tomlinscote School, Frimley Church of England School and St Mark’s Church of England Primary School were the academy partners in the Trust, responsible for the provision of 4 -19 education to around 6,000 learners from the local community.

Company policy on disabled employees

Engagement with employees (including disabled persons) The Trust has taken the following actions: Regularly provided employees with information on matters of concern to them, including updates on Trust and academy developments. This has been through staff meetings and briefings, with notes circulated for those who could not attend. Consulted employees regularly so that their views can be considered. Consultation has taken place through a variety of communication channels including staff surveys. Encouraged the involvement of employees through staff associations, union meetings and regular staff updates. Sought to improve the wellbeing of staff through on-going consideration of work-life balance and commitment to the DfE’s Staff Wellbeing Charter. Held an annual Trust-wide conference for all staff and those involved in Trust governance. Entered into a Trust-wide Join Union Recognition Agreement to formalise the Trust’s relationship with the unions and facilitate collective bargaining, negotiation and consultation on key staffing matters.

Additional information

Significant achievements at The Sixth Form College, Farnborough include: The College continues to provide a wide range of Level 3 subjects with over 45 different courses offered in 2025/26. Despite this expansive curriculum offer, standards of Level 3 attainment remain excellent across both the A Level and vocational offer. During 2025/26, the College supported over 4,000 learners from Hampshire, Surrey, and Berkshire. Despite the considerable number of schools from which it draws students, the College maintains its traditional close links with its local Partner and Link schools in the boroughs of Rushmoor, Hart, Surrey Heath, and Woking. The A Level pass rate in 2024/25 was 99.3 per cent with 74.5 per cent of grades on or above target, and 39 per cent and 69 per cent of A level grades awarded at A*-A and A*-B respectively. The value-added score under the Alps system for A levels was graded 2 (rated ‘outstanding’ – in the top 10 per cent of providers nationally). The vocational pass rate was 99.6 per cent, with 83.5 per cent of students achieving high grades (D*-M/D*D*-MM). The College continues to provide learners with high quality support and guidance through the tutorial system, which was fully reviewed during the year. The tutorial system works alongside a team of specialist counsellors to support learners' mental health. In addition, the College offers a wide-ranging enrichment programme, available to all learners, including sport, music and performing arts, as well as a broad range of other clubs and societies reflecting its diverse student community. Student recruitment remains robust, with the highest ever numbers of first years starting in September 2025. other achievements included the Quality in Careers Standard Award; a full review of the digital strategy; as well as achieving Cyber Essentials accreditation. The College benefits from continued investment by the Trust through ongoing IT network infrastructure improvements and computer upgrades in maths. Significant achievements at Tomlinscote School include: Impressive outcomes with 74 per cent of pupils achieving at least five GCSE passes including English and Maths in 2024/25. While there were no national Progress 8 measures in 2024/25 due to the absence of SATs in 2020, internal data analysis suggests this cohort achieved the second best progress in the history of the School. Teaching and learning targets for the school continue to be focused on embedding the pedagogic priority of mastery learning using Rosenshine’s Principles of Instruction. The School remains extremely popular, with the September 2026 intake oversubscribed by approximately 20 per cent (based on first choice school). The School continues to benefit from a stable and highly-skilled teaching staff team. Tomlinscote was awarded the Quality in Careers Standard, a highly prestigious, national quality award for careers education, information, advice, and guidance. Significant achievements at Frimley Church of England School include: Frimley Church of England School achieved its best ever results, significantly higher than national and Surrey comparators in reading, writing and maths. There were no KS1 tests in 2020 and therefore national progress measures are not available. However, based on internal data, progress made by Frimley pupils during 2024/25 was the best ever, continuing the solid upward trajectory since Frimley joined the Trust. Frimley received the Social Impact Schools Award 2025, a recognition of the passion and dedication the children have displayed through meaningful social action. The careers curriculum at Frimley has been developed so that learners are exposed to explicit links between what they learn in school and their future selves. Frimley has been awarded the ‘Investor in Careers’ award. Significant achievements at St Marks Church of England Primary School include: St Marks’s has been awarded the Brightcore Excellence in Safeguarding Commitment Award following a very thorough and successful safeguarding audit in March Whole school consistent approaches to phonics, reading, writing and maths have been implemented across the school. ELS has been purchased for phonics and White Rose Hub has been purchased for maths. The role of subject leaders has been developed this year and all teachers have focused on a smaller number of subjects so that monitoring and feedback is more effective. The Sports Premium has been allocated to enable the children at St Mark’s to access wider opportunities both in school and in the local community. An external Hockey coach provided lessons for KS2 students and CPD for staff. Orienteering markers and planning have been implemented (again including staff CPD). A range of instructors and sports are being represented in Sports Week. Promoting the success of the company The Trust has taken the following actions to promote its success: Provided the necessary support and challenge to continue the exceptional standards and results achieved by our Academies. Ensured that there is robust financial management across all academies, and that there are systems in place to support this and investigated processes and options to improve financial efficiency Recruited and retained high-calibre teaching and support staff Ensured that there are robust safeguarding policies within academies, which have been subject to rigorous external review. Drawn upon external expertise to support the Trust in terms of evaluating existing effectiveness in terms of school standards, safeguarding and special educational needs. Identified shared opportunities for CPD (Continuing Professional Development), curriculum and resource planning to strengthen the quality of teaching and learning and its impact on learners’ progress. Held annual Trust-wide conferences for all staff and those involved in Trust governance. In 2025 the programme centred on artificial intelligence (AI) in recognition of the priority AI is being given across the Trust. Invested in a Trust-wide talent management programme and a Leadership Development Programme for newly-appointed and aspiring middle and senior leaders. Developed and implemented Trust-wide ICT programmes to continually improve ICT hardware and software to deliver desired outcomes. Continued to implement a programme of staffing efficiency savings to ensure best value is achieved across the Trust. Adopted new Articles of Association to enable St Mark’s, a Voluntary Aided Church of England school, to join the Trust (from 1 September 2025). The CEO and Principal of The Sixth Form College Farnborough continued to strengthen relationships with local schools. Appointed an external agency to review marketing resulting in a new digital brochure and upgrades to the website. Created a public speaking competition for local secondary schools, hosted at the College. Concluded discussions with Weydon Multi-Academy Trust with the decision to integrate and build a larger, stronger Trust from 1 April 2026. Public benefit In setting the Trust’s objectives and planning its activities, the Board of Trustees has considered the Charity Commission’s general guidance on public benefit. During the financial period, the Trust furthered its charitable purposes for the public benefit by providing 4-19 general education incorporating GCSE and vocational qualifications plus wide-ranging sixth form provision including A Levels and BTEC courses. Going concern With effect from 1 April 2026, in accordance with a legal transfer of undertakings, all assets, liabilities and activities associated with The Prospect Trust transferred to Weyden Multi Academy Trust including, following consultation, all staff under the Transfer of Undertakings Protection of Employment (TUPE) regulations. For this reason, the Trustees do not deem it appropriate to adopt the going concern basis and therefore have prepared the accounts on a basis other than going concern. After making the appropriate enquiries the Board of Trustees has a reasonable expectation that the Academy Trust has adequate resources to continue in operational existence until it is wound down in 2026. Financial review The Trust's income continues to be provided predominately by the DfE in the form of recurrent grants, some of which are restricted to particular purposes. The grants received from the DfE during the period ended 31 March 2026 and the associated expenditure are shown as restricted funds in the Statement of Financial Activities. Where The Trust received grants for fixed assets in accordance with the Charities Statement of Recommended Practice, 'Accounting and Reporting by Charities' (SORP), these grants will be shown in the Statement of Financial Activities as restricted income in the fixed asset fund. The restricted fixed asset fund balance is reduced by annual straight-line depreciation charges over the expected useful life of the assets concerned. During the period ended 31 March 2026, total expenditure of £23.2 (2025: £38.8m) was met by recurrent grant funding from the DfE together with other income. Due to staffing restructure costs associated with the merger along with the shortened accounting period the excess of operational expenditure over income for the period (excluding both the restricted fixed asset fund and FRS102 pension adjustments and also before transfers) was a deficit of £89k. (2025: £0.7m). At 31 March 2026, the net book value of tangible fixed assets was £46.8m (2025: £46.9m) with investment properties at £1.1m (2025: £0.4m). Movements in investment property and tangible fixed assets are shown in notes 11 and 12 respectively. The investment properties were revalued during the period with the above value reflecting the revised valuation. The tangible fixed assets are used exclusively for providing education, and associated support services to the learners of the Trust and the provision of resources for the benefit of the local community. The Hampshire and Surrey County Councils’ Local Government Pension Schemes, in which the Trust participates, showed a balance of £Nil at 31 March 2026 (2025: £Nil). The Trust held total fund balances at 31 March 2026 of £49.7m (2025: £49.7m) comprising £1.5m of unrestricted general funds (2025: £2.7m), £251k of restricted general funds (2025: £81k), £48m of fixed assets (2025: £46.9m) and a balance of £Nil on restricted funds arising from the pension scheme (2025: £Nil). Financial report for the period Total income for the period (including the restricted fixed asset fund and before transfers) was £24m (2025: £38.1m). The results for the period are shown on page 288. Financial and risk management objectives and policies The Trust’s financial objectives are focused on ensuring that each year and over the next three-year period, the Trust as a whole and its constituent academy partners are self-sufficient in terms of generating operational (cash) surpluses to cover fixed asset funds movements including capital expenditure. This work will be continued following the integration with Weydon Multi Academy Trust. Reserves policy- The Trustees have reviewed the reserves of the Trust, encompassing the nature of the income and expenditure streams, the need to match them with commitments and the nature of the reserves. The Trust’s unrestricted reserves as at 31 March 2026 were £1.5m (2025: £2.8m) compared to an agreed £2.0m minimum. The Trustees’ policy is to carry forward a prudent level of resource that will enable the longer-term cyclical needs of the Trust to be met as well as retaining a provision for any unforeseen contingencies. The level of reserves as at 31 March 2026 represented 7.4% per cent of income (less fixed asset fund) (2025: 7.4%). This is in excess of the best practice requirement of the DfE that reserves are more than five percent of income. During 2024/25 the Trust focused on increasing classroom space and improving shared areas. In 2025/26, the Trust continued to improve IT accessibility and further increase classroom space. The Trust aims to support levels of reserves in the short term by securing operating surpluses in line with budget forecasts. Revenue reserves total £1.7m (2024/25 £2.8m) and will help towards financing the Trust’s ongoing capital expenditure programme. Trustees believe this to be a prudent amount to enable it to invest in its development plans and to respond to current economic uncertainties. Investment policy Due to the merger with WMAT the Trust released the medium-term investment deposit of £2.15m (2025: £2.13m) on 31 March 2026. Prior to this the investment deposits were in line with the Trust’s agreed Treasury Management approach which notes the requirement for Trustees to take particular care when investing funds by identifying low risk deposits, setting out minimum bank account levels and restricting investment exposure of any funds. PRINCIPAL RISKS AND UNCERTAINTIES The Board of Trustees, through the Audit & Risk Committee, has considered the major risks to which the Trust is exposed and has implemented controls, systems, and processes to mitigate them. The existing key known strategic risks and the associated mitigating actions include: Performance of individual academies – The Trust actively monitors the performance of academy partners in terms of recruitment, retention and attainment, and promotes and shares best practice through collaborative working across and between academies. As part of this the Trust is reviewing how it will respond to known and future Governmental changes in academic qualifications. Financial constraint – As with most education establishments across the country, the Trustwill be adversely affected by the current national economic pressures. To respond to this and to maintain sufficient level of reserves, the Trust continues to review its cost base across the organisation. Resource distribution – The Trust historically has operated a GAG pooling approach, ensuring that campus, systems, and people infrastructures are equitable, and allocations are made based on risk and need. As the Trust moves towards a membership fee model under Weydon Multi Academy Trust, academies will work to achieve sustainable efficiency. Infrastructure – The Trust continues to invest in its infrastructure across all academies including the IT network and IT security, building on the Cyber Essentials accreditation the College achieved in 2024/25, as a recognition of the work that has taken place to improve IT security. Governance – Due to the merger with Weydon Multi Academy Trust no further Governors were recruited in 2025/26. Integration –The Trust is merging with WMAT on 1 April 2026, up until the merger date the working group continued to monitor any associated risks. The Trust has an effective system of internal financial control, as explained in the Statement on Internal Control, and insurance arrangements are in place where significant financial risk remains. PLANS FOR FUTURE PERIODS Since its formation, The Sixth Form College Farnborough, Tomlinscote School and Frimley Church of England School have successfully been transferred into the Trust. During 2024 the Trust began working with St Mark’s Church of England Primary School which joined the Trust on the 1 September 2025. Going forward, the Trust will continue investment into its IT network infrastructure to support an effective digital strategy. Following successful discussions with Weydon Multi Academy Trust the decision to integrate with them was ratified and takes effect on 1st April 2026.

This report was approved by the board of directors on 15 July 2026
and signed on behalf of the board by:

Name: Andrew Needham
Status: Director