GRESHAM'S SCHOOL
Financial health, per its FY2025 accounts
The accounts state that the School had unrestricted funds of £48,609,000 at 31 August 2025, with a net movement in funds of £26,906,000 for the year. Per the trustees' report, the School considers free reserves of £2m or two months' expenditure to be practicable, noting that it currently has no free reserves as unrestricted funds are deployed in premises and equipment.
What the accounts disclose
“The Governors consider that free reserves of £2m or two months’ expenditure, would be practicable and achievable in order to cover the risks and uncertainties of operating as an independent educational establishment.” — page 19
“Sir James Dyson, Governor, is a trustee of the James Dyson Foundation, which generously donated £28.5m to the School, following its previous donation of £6m in 2023 for the purchase of Holt Hall, for the construction, renovation and restoration works necessary to put Holt Hall in condition for use by the School as a Preparatory School.” — page 55
“James Morgan is a trustee the Earle & Stuart Charitable Trust that made a payment of £12,000 (2024: £6,000) to the School for School fees paid for two pupils (2024: one).” — page 55
“Sir James Dyson, Governor, is a trustee of the James Dyson Foundation, which generously donated £28.5m to the School, following its previous donation of £6m in 2023 for the purchase of Holt Hall, for the construction, renovation and restoration works necessary to put Holt Hall in condition for use by the School as a Preparatory School.” — page 55
“James Morgan is a trustee the Earle & Stuart Charitable Trust that made a payment of £12,000 (2024: £6,000) to the School for School fees paid for two pupils (2024: one).” — page 55
“This actuarial valuation was certified on 11 December 2024 and showed assets of £99.2m, liabilities of £151.5m and a deficit of £52.3m.”
Structured financials (annual return, FY ending 31/08/2025)
Trustees
- PAUL MARRIAGEchair
- Airlie Anne Inglis
- Anna Maria Dugdale
- Charlotte Coventry
- Debra Hayward
- JAMES KENRICK MORGAN
- Martin Anthony Richard Collier
- Martin Bailey
- Nigel Clark Flower
- Richard James Malcolm Baker
- Richard Roy Grisenthwaite
- SIMON GORTON
- SIR JAMES DYSON CBE
- Sarah Kate Fletcher
- Sarah Louise Maxwell
- Simon John Spencer Clarke
- Sir James Jeffrey Corfield Bucknall
- William Alan Donger
- William Stabb Mills
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/08/2025 | £51.7m | £24.9m |
| 31/08/2024 | £23.5m | £23.1m |
| 31/08/2023 | £28.4m | £21.4m |
| 31/08/2022 | £20.0m | £19.5m |
| 31/08/2021 | £17.4m | £17.0m |
Common questions
Is GRESHAM'S SCHOOL financially healthy?
The accounts state that the School had unrestricted funds of £48,609,000 at 31 August 2025, with a net movement in funds of £26,906,000 for the year. Per the trustees' report, the School considers free reserves of £2m or two months' expenditure to be practicable, noting that it currently has no free reserves as unrestricted funds are deployed in premises and equipment. Its FY2025 accounts were audited by Saffery LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 17/03/2015 | £10k | "Schoolfriends who died for Britain" |