00:00First established in 1897, Morelands is the oldest prep school in Leeds, but it's become the second private school in the city to announce it's going to close, 128 years after first opening its doors.
00:12A full statement by the trustees of the Methodist Independent Schools Trust, or MIST, said the decision followed a period of careful reflection and a thorough review of the school's financial viability, in the face of increasingly difficult economic conditions that are impacting many independent schools and showed little sign of abating.
00:31The statement added that the introduction of VAT on school fees alongside a decline in inquiries and registrations, the withdrawal of charitable relief on business rates, increases in employer national insurance contributions, the limited ability of a small school to reduce fixed costs, and the rising budgets required for the upkeep of the school site and buildings have sadly all contributed to an unsustainable financial position.
00:57From January 1st, 2025, private schools in the UK are required to charge 20% VAT on all education and boarding services provided for a fee, having previously been exempt.
01:09MIST trustees have pledged to work together with staff and governors to ensure education and activities continue uninterrupted until the end of the autumn term.
01:18The statement added that the school is deeply grateful to all those who have contributed to Moreland's over the years, pupils, past and present, families, staff and the wider community, saying that Moreland's has been a special place of learning, growth and community.
01:34It's the second historic Leeds private school to announce its closure, following Fullneck School in Pudsey revealing it's also due to close.
01:41Moreland's school will close on 31st December.
