DOWNSIDE SCHOOL

• ⚠

  Material uncertainty over going concern

  Governors acknowledge that as a result of all the factors mentioned above, a material uncertainty exists that may cast doubt on the School's ability to continue as a going concern. However, having considered all of the circumstances and mitigating actions, the Governors consider it appropriate that the accounts are prepared on a going concern basis.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Governors acknowledge that as a result of all the factors mentioned above, a material uncertainty exists that may cast doubt on the School's ability to continue as a going concern. However, having considered all of the circumstances and mitigating actions, the Governors consider it appropriate that the accounts are prepared on a going concern basis.”

Significant events

• “The School continues to face challenges brought about by the onset and introduction of VAT on fees from January 2025, and the consequent drop in pupil numbers. This is compounded by significant increases in expenditure caused by the loss of Mandatory Business Rates Relief and a substantial rise in Employers' National Insurance liability from April 2025.”
• “To mitigate these, the School has undertaken a comprehensive review of staffing and expenditure, with over £1m of savings planned for the forthcoming year.”
• “We have also taken steps to increase pupil recruitment and retention, including opening a new sixth from centre in September 2024 to help retain more pupils post-GCSE and attract local day pupils.”
• “A fundraising appeal in support of this was launched on 12 August 2025 and pledges and donations totalling over £800k had been received within 2 weeks.”
• “The Community of St Gregory the Great announced in March 2025 that they would shortly be moving to Hereford to begin exploring the possibility of a union with Belmont Abbey. The Monks, whilst remaining committed to owning and caring for the Downside Abbey Church and Library, indicated that they would like to sell other parts of the Estate, including the former monastery, and the land and freehold of Downside School.”
• “The bank loan was repaid by the DAGT in full on 26 March 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +16.1%

  £11,538,345 → £13,393,829

• Cash

  +136.4%

  £966,277 → £2,284,555

• Net assets

  +92.3%

  -£2,418,565 → -£185,182

• Employees

  -1%

  195 → 193

• Wages

  +1.4%

  £5,362,250 → £5,439,033

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers