2024-08-31-accounts

Company No: 03245525 {England and Wales) ELTHAM COLLEGE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Eltham College Dir8ctors' Report For The Year Ended 31 August 2024 The Directors present their report and the audited financial statements forthe year ended 31 August 2024 in accordance with the Companies Act 2006, the Charities Act 2011 and the Company 5 Memorandum and Artides of AssoGiation. Reference and Admrnistrative Infomiation Eltham College is a registered charity, number 1058438. and is also a company limited by guarantee, registered mpany number 03245525. TnMteg¥ and Offi¢¢rs The Goveming Body, in whom the governance of the School is vested and which forms the Board of Directors and the Charity Truslee body. was as follows during the year.. NAME COMMIThEES OTHER Js ss BP GN HS Mr P Doyle (Chairl Mr P Ashcroft" Mrs F Brown" Mr M Curry Ms A Hart)er Rev W Hawkins Dr D Huang Mr D Hudson" Aopointed 1.9.23 Mr L Jagge Ms S King (Vice Chairl Mr N M¢Quoid Mr M Melia. Appointed 24.7.24 Resigned 24.10.23 Appointed 1.9.23 Appointed 1.9.23 MrT Meunier MrA Neden Mr B O'Donoghue' Mr O Obidipe Dr S Tumer Committees F - Finance & General Purposes. E - Estate and Safety. JS - Junior School, SS - Senior School, BP - Blackheath Prep. GN- Governance and Norninations + Denotes Chair of the committee Q Denotes Member of the committee Denotes School par8nt at the time of their appoinlment The Committee structure provides for six Committees of the Board.. Finance & General Purposes Committee,. Estates & Safety Committee., Senior School Committee., Junior School Committee., Blackheath Prep Commrttee," and Governan￿ & Nominats'ons Committe8. In addrtion, Mr D Huang is the nominated Safeguarding Governor for the Senior School and Mrs F Brown is th8 nominated Safeguarding Govemor for the Junior School and Blackheath Prep. Other Governor Oversight HS- Health and Safety- thè nominated Health and Safety Govemor attends the temly meeting of the Strategic H&S Oversight Forum which is chaimd by the Bursar.

Eltham College Directors. Report For The Year Ended 31 August 2024 No Governor had an interest in any contract or arrangement of a material nature during the period under review except as disclosed in note 20 to these financial statements. Key Management Personnel Headmaster. Mr G Sanderson MA {Oxonl FRSA Bursar.. Mr R Wlkinson OBE Head of the Junior School= Ms V Lloyd (until August 20251 (From S8ptsmber 2025 Mrs Rachel Thompson) Head of Blackheath Prep Mr A Matthews (until July 20251 (From September 2025 Ms V Lloyd) Senior School Senior Deputy Mr J Martin Head Deputy Heads.. Mrs A Massey {S8nior School) Ms K Nutbeem {Senior School) Mr J Willatt {Senior S¢hooll Mr A Taylor (Junior School) Mrs Jo Dudley (Junior School} Ms K Cubley (Blackhealh Prep) Registsred LYfi¢e Eltham College Grove Park Road Mottingham London SE9 4QF Advisers Bankers.. Barclays Bank PIC 5th Floor Corinthian House 17 Lansdowne Road Croydon CRO 2BX Lloyds Bank PIC Lèvel S. 110 St. Vinc8nl Str88t Glasgow G2 SER Auditors= Azéts Audit Servic8s 2nd Floor, Regis House 45 King William Street London EC4R 9AN Solicitors.. Broadfield Law UK LLP {form•rly BDB Pitmans) One Bartholomew Close London EC1A 7BL Farrer & Co LLP 66 Lincoln's Inn Fields London WC2A 3LH

Eltham College Directors, Report For The Year Ended 31 August 2024 Structure, Governance and Management Governlng Do¢ument Eltham College was founded in 1842 as the School for the Sons of Missionaries and incorporated in 1996. The Schools within the Group operate as a charity and are regislered with the Charity Commission under Charity Number 1058438. The Charity is governed by the Articles of Associalion of Ellham College Ilncorporated, registered company number 03245525), dating from 1 s￿teMber 2018 and amended in May 2023. Group Stru¢ture and Relatlonshlps Eltham College operates and runs three Schools under the°Eltham College Family of Schools" group structure.. Eltham College Senior School, Eltham College Junior School and Blackheath P￿P. FSSM Ltd (registered Company number 03113910) is a wholly owned subsidiary of the School. It is a non-charitable limited company which 0￿rats$ the Eric Liddell Sports Centre for community us8 under a management agreement. FSSM Ltd has its ovm Board of Directors. From 3 February 2021, the Board comprises the College Bursar, the Headmaster 2nd the Chair of Governor5. Eltham College is the Sole Member of the Blackheath Prep Charity and Company Limited by Guarantee (Charity No.. 312732 and Company No.. 672569). The Charity and Company are currently in a dormant state and since September 2023 have no role in the ownership or running of Blackheath Prep school. The Headmaster is a member of the Headmasters, and Headmistresses, Conference, and the School is a member of the Independent Schools Bursars, Association and of the Association of Governing Bodies of Independent Schools. Govemlng Body The Trustees are the Goveming Body. All members of the Governing Body are Trustees of the Charity and act as Directors ofthe Company. As reqUI￿d under the Articles ofAssociation, during the yearthe Governing Body con$isted of a minimum of tsvelve Governors. of whom a minimum of were parents at the time of their appointrn8nt. and of whom three may be nominated Govemors, one by each of the following.. Baptist Missionary Society Council for Worfd Mission United Reformed Church Recruilm•nt and Training of Gov•mors Eltham College has a policy on the Recruitment of Proprietors, Govemors and Trustees which is available on the School's website. Eltham College makes us8 of training opportunities provided by AGBIS and other organisalions within the sector providing sp8¢ialist briefings for Govemors, includiro the Independent School Bursars, Association. Oryanisatlonal Managemgnt The day to day running of the three Schools is delegated to the Headmaster & CEO of the Eltham College Family of S¢hools and through him lo the Bursar and to the Executive Leadership Team which includes the Senior Deputy Head of the Senior School, the Head ofthe Junior School and the Head of Bla¢kheath Prep. The Headmaster and the Bursar attend 811 meetings of the Governing Body and its Committ8es. The remuneration of the Headmaster is set by the Board of Govemors, with the objective of ensuring parity with equivalent posts in other Schools and appropriate reward for enhan￿d performan￿. The remuneration of the Bursar. the Senior Deputy Head of the Senior School, the Head of the Junior School and the Head of Blackheath Prep is set by the Headma$ler with guidance from the Board. The remuneration of other key managèment personnel is sét by the Headmaster with the Bursar, wthin the budgét parameters approved by the Govemors tsking into account ben¢hmarking infoffnation for equivalent posts within the sector. A Remuneration Committee mee1$ before the budgel is prepared annually to hear feedback from staff body répresentatives which is then tsken into account during consideration of whether to award a cost-of4iving increase to the stsff body. These meetings are attended by the Chair of the Board. Ihe Chair of the Finance & General Purposes Committee and one other Governor. as well as the Headmaster, the Bursar and HR Director. In addition, five members of staff reflecting teaching and support staff across the three schools attend the meeting. The meeting is minuted and

Eltham College Directors, Report For The Year Ended 31 August 2024 the record of thè meeting is shared with all staff. Th￿ infomiation gleaned through the Remuneration Committee is used by Governors to inform their consideration of the budget and pay awards. Recruitment Pollcy for Staff Eltham College has a published recruitment policy which aims to achieve the following". to recrurt staff of the highest possible qualty who will maintain and indeed improve the education that the Schools offer, and who will contribute to the academic, co-curricular and pastoral life of the Schools to ensure that all staff are recruited on the basis of their ments, abilibes and suitrability ft)r the position to ensure that 211 staff appointments are made fairfy and transparently. and that all job applicants are considered equitably and consistently to ensure that no job applicant is treated unfairly on any grounds including gender, sexual orientation. marital or civil partner status, pregnancy or matemity, gender reaSS￿nMent, race. religion or belief, disability or age to ensure compliance with the relevant recommendations and guidancè including Keeping Children Safe in Education, Safeguarding Childr8n: Safer Recruitment and Selection in Education Settings and the Disclosure and Barring Service Code of Practic8 to ensure that the Schools meels their commitment to safeguarding and prornoting the welfare of chibsren and young people by carrying out all ne￿$sary pre-employment checks to deter potential offenders from applying- all advertisements make reference to the S¢hools' Child Protection and Safeguarding Policy Communlcatlon wlth Staff The Headmaster and CEO ofthe Eltham Coll8g8 Family of Schools, and the Heads ofthe Junior School and Blackheath Prep, engage extensively with staff on a range of matters. This includes formal briéfing sessions which are usually held at the start of each temi on matters such as health and safety, data privacy and financial updates as well as a range of other matters relating to teaching and learning and academic results. 'Open-house" style question and answer sessions are also held on specifi¢ issues that are of interest to staff. Intemal stsff infomation briefings take place weekly al each School and are followed up with a written nots for those unable to attend. Obl￿tIveS and Actlvltles Charitable Objectivès Following approval from the Charity Commission. the Objects of the Charity were updated in May 2023 and are now as follows: "For the public benefit, to advance the education of children and young people by (without prejudice to the generality of the foregoing) the provision of a school or schools, in particular but not exdusively. those conducted in accordance with the ethos and values of the Christian faith and those with a preference for the admission of children of Protestant missionaries subject to the discretion of the Twstees." The Trustees confirm that they have referred to the guidan￿ contsined in the Charity Commission general guidan on public benefit when reviewing the charitable company's aims and objectives and in planning future activities. Eltham Colle Principal Activitigs Eltham College S8nior and Junior Schools aim is to educate children by the provision of ¢Owedu¢ational preparatory and secondary education within a Christian 8nvironmenL We are committed to excellence within and beyond the classroom, with high expectstions on achievement contributing to the overall development of students.

Eltham College Directors, Raport For The Year Ended 31 August 2024 Alms and Intended Impact The Mission Statement for Eltham College Senior & Junior S¢hool8 is to be: "A thriving. leading London day school. built upon Christian pnnciples. that provides an outstanding and well- rounded education for girls and boys.. To this end, Eltham College has seven equal aims.. Instilling a love of leaming in students and to achieve eX￿lIent academic outcome5 Providing exceptional artistic. sporting and musical opportunities so that students develop diverse talents. enjoy their school days. and excel in their ftjture lives Providing strong pastoral ¢are and a tolerant. and mutualty respectfvl environment so that all members of the school community are knovffl. valued and supported as individuals Re¢ruiting and developing passionate and commiiled teaching and support staff, reGognising that their skill and expertise create5 an outstsnding and well-managed school Enabling students to consider Christian beliefs and values. whilst wamly including those of other faiths and none. so that all mrght live a life for the beneffit of others Maintainin9 Strong lies wrth everyone within the Eltham College community {students, staff, parents, alumni, and their wider families} and providing bursary provision to ensure that the school is accessible for all Providing excellent facilities that meet the educational needs of present and ￿tUre students and those who teach and support them in a sustsinable manner Objeclfves for thè Year 2024125 The School maintains a three-year development plan setting out its strategic priorities. The cajrrent three-year plan covers the period 2024-27. Key Senior School projects within that plan included: Academlc Instilling a love of leaming in students and to achieve excellent academic outcomes- Develop Eltham College's provision for SEND Increase Vo offers from elite universities induding °/0 from Qxbridge Establish a Middle School {Y9-11) academic enrichment programme to support achieving higher outcomes at GCSE Reviéw of the A Level opts'ons process Improve use of assessment and homework to support higher oUt￿meS at GCSE Provide cU￿1¢UlUrn that stretches and challenges all learners to achieve excellent outcomes 2. Co4uffi¢ular Providing eX￿ptIOnal artistio sporting and musical opportunities so thatstudents develop diverse talents. enjoy theirschool days. and ex¢d in their fvture lives- Recrurt higtrFlevel Art. Drama. Music. and Sport scholars into Y7 and Y12 each year Retain students achieving higt￿leVel performance in ArL Drama, Music, and Sport Achieve national reputation in each of Art, Drama, Music, Sport. and STEM Maximise balan￿ and breadth of opportunity in the c¢>cunicular programme Embed a whole school student4ed charity programme Maintain an indusive travel programme mindful of economic and environmental headwinds Develop meaningfvl opportunities for student leadership across CO-curri¢ular provision 3. Well4olng Providing strong pastoral care and a tolerant and mutualty respethl environmentso that all members of the School community are known, valued and supported as individuals.

Eltham College Directors. Report For The Year Ended 31 August 2024 Achieve a minimum of 450/0 girls in Y7 each year Foster an inclusive environment where students and staff are accépting of difference, confident in challenging prejudi￿ and stereotypes. and act with integrty and kindness Activety promote and support positive mentsl health, physical health and wellbeing throughout our communty Develop the role of student voice and ensure that there are a range of opporiunities for this to be heard and acted upon. To provide opportunities for students to disagree respecttully and for staff to role model this Work in partnership with parents and guardians Suppori students in understanding and forging healthy and supportive relationships in all aspects of their lives 4. Staff Rectuiting and developing passionate and committed teaching and support staff, recognising that their skill and expertise creates an outstanding and well-managed school: Implement a strong CPD programme l Great Teacher Toolkit Develop the programme Teacher Insight Programme (minority backgrounds) Ensuring pay remains attractive against the maTket staff well-being 5. Christian Beliots and Valu•s Enabling students to consider Chriskn'an beliets and values, whi15t warmly including those of other faiths and none, so that all might live a life for the benefit of others.. Continuè th8 studént-led discussion groups available for each year group in the Senior School Continue the annual camp for students who are interested in Christian matters 6. School Communlty Maintaining slrong ties with everyone within the Etham College Community (students. staff, parents, alumni, and their wider families) and providing bursary provision to ensure that the S¢hool 1$ a¢¢essible for all.. Dévelop an intemational Sixth Fomi experience and programme for up to 10 students Fer annum from September 2025. Deepèn existing Partnership projects wth local Primary and Secondary schools Further d8v8lop the careers programme, beginning in Year 7 with lunchtime talks from guest speakers 7. Facilities and Infrastructure Providing excellent facilities that meet the educational needs of present and future students and those who teach and support them in a sustainable manner.. Maintain the programme of refurbishment across the Science Centre Ensuring sufficient sport5 facilities for a growing number of girl students Deliver the new IT strategy to inspire digital ieaming I computer science Refurt)ish the King George's Hall Refurbish changing facilities in the London Marathon Pavilion Explore options for an integrated Art Centre and gallery based around the current Gerald Moore Gallery Work to maintain the fabric of Senior School buildings to a high standard and ensure all high-risk Health and Safety issues are prioritised Reduce the volume ofelectricity and gas consumed on site Actively explore opportunits.es for stronger income generat.on from use of the School facilities. including through the FSSM.

Eltham College Directors, Report For The Year Ended 31 August 2024 Blackh•ath Pro Principal Aclivitios Blackheath Prep offers pupils an outstanding education that is well-balan(d across the academic subjects, sport and the arts, in addition to superb pastoral care and ex￿lIent wraparound care. Facilities include a purpose-built science lab, library and gym, 2.5 acre sports field and three Forest schools, providing ample space for our pupils to roam, discover and have mini-adventures. At Blackheath Prep. pupils benefit from a rich and broad wjucation from Nursery upwards. and when they leave in Year 6 they are wellquipped for the 11+ prO￿sS and the next stage of their education. As part ofthe Eltham College Family of Schools, Blackheath Prep pupils benefit from a priority application process for those who wtsh to select Eltham College as their Choi￿ of senior school. Alms and Intended Impact Vision.. To offer an educats.on Nmthout boundaries, giwng every child the freedom to shine and achieve theirfijll potential. upholding academic ex￿llen￿, sparking curiosity and a joyful love of learning. nurturing kindness and wellbeing, and Creating a strong 9ense of community. Mission.. We are committed to giving ev8ry child the opportunity to achieve their full potential and the courage to striv9 for excellence in all their endeavours. Through innovative and inspiring teaching and a rich and varied curriculum, we aim to spark children'5 natural curiosty and sense of fun and adventure and to nurture a joyful love of learning. Community is at Ihe very heart of Blackheath Prep, and kindness, appreciation. collaboration and contrTbution are values that we work hard to put into practice each day. We encourage every child to make thé most of their time here so when they complete theirjournéy with us they are ready for the next stage of their education and have the foundation for a Success￿1. happy and fvlfilled life. Our Values.. Bla¢kheath Prep has seven core values that guide our Ihinking and our behaviour. Each value is outlined in more detail to forn our aims. Kindness.. We aim to be an inclusive, diverse, friendly and welcoming school, where kindness, compassion, Courtesy and respect are paramounL We are generous and considerate towards others and take ¢are of each other and ourselves. We hélp children leam how to put the powerful potsntial of kind words and deeds into action. Curiosity.. We aim to spat* children's natural curiosity for the world, leading them to discover, to wonder, to dare to go further. With their attention capts"vated, children Ihink more deeply, ask more inquisib've questions and pursue their learning to new levels. Freedom.. We aim to give children freedorn to grow, to push tjoundaries, to exceed their own expectat.ons and ours. Our superb outdoor space provides wonderful scope ft)r exploration and exhilaration. Oui independent status allows us to be an innovative school that nurbjres creab.ve thinkers and risk takers. Ambition.. We aim to be ambitious in the goals we set. striving to ensure that every child shines and reaches their fvll potential. We unlod( confiden￿. ex<itemenL fresh thinking and a sense of fijn and adventure. in the full belief there are no limits to what each indrvidual child can achieve. We are committed to academic ex￿llenCe and to offering a rich and varied curriculum that inspires and fvlfils a vast range of interests and aspirations. Courage= We aim to help children develop the ¢ourage to believe in themselves, to take risk5 and make Chol￿s, to ty new things, to be bold, brave, resilient and tenacious. to léam from mistskes and to rise to challenges. Community: We aim to nurture a sense of belonging and a strong appreciation of ¢ommunity. As well as deepening collaboration be￿een our own pupils, teachers and parents, we aim to look beyond the s¢h¢)ol and

Eltham College Directors. Report For The Year Ended 31 August 2024 engagé with the widerworld, contributing to our local community and wod(ing with other schools, organisats'ons and charities. Joy.. We aim to nurtur6 a joyful love of learning. We are committed to prowding a happy and exciting school environment where each day brings new experien￿ and where thildren's personal d8velopment, happiness and wellbeing all flourish. Objectives for the Yoar 2024125 The School maintains a three-year development plan setting out its stratsgic priori(io$. The Current three-year plan covers the period 2024-27. The key objectives for 2024125 v￿thin that plan aré.. Teaching & learning.. To improve the quality of teaching and leaming and maintain the highest stsndards across the School Pupil personal development.. To str8ngthan th8 School's approach to pastoral care and maintain the highèst standards across the School 3. People.. To foster a culture of high4ualty professional léaming and strategic development and improve staff wellbeing 4. Sustainability.. To improve th8 efficiency and sustainability of the S¢hool's operations and develop the School's site for the future S. Community.. To enhance thé School's parental engagement and communications strategy and str8ngth8n the School's approach to charitable fundraising and communty service Prin¢1 Activities: FSSM The aims and objectives for FSSM Ltd are to operate Ihe Eric Liddell Sports Centre in line with th6 Manag8ment Agreement. and to facilitate the achievement of the Famity of Schools, aims as above. Tho Ethos of the Eltham Colle e Famll of Schools Eltham College Family of Schools is a charitable Trust which seeks to benefit the public through the putsurt of its statèd aims. Our fees are set at a level to ensure the financial viability of our three Schools and at a level that is consistsnt with our aim of a first<lass education for boys and girls. We welcome students from all backgrounds. To admit a prospective student we need to be satisfied that we will be able to educate and develop Ihem to the best of their potential and in line with the standards a¢hieved by their peers. In particular. at Eltham College Junior and Senior Schools. entrance èxaminations, ass6ssments and interviews are undertaken to satisfy ourselves and parents that potential Students wi51 thrive with the pace of leaming and benefit from the education we provid6. An individual's economic status, èthnicity, racé. rèligion and. in most cases. disability, do not form part of our assessment prO￿s$ in our Schools. We ap committed to achieving high standards in safeguarding and promoting the w8lfar8 of our students and 8xpect all staff and voluntèers to Sha￿ this commitmenL Parents are given régular information about their children's social and academic progress through parents, evenings and interim reports as wéll as th8 traditional full r8POrts. We maintain regular contact with parents throughout the y8ar through the weekly 8-Bull8tin, and regular opèrational communications. We are an equal opportunity organisation and are committed to a working environment that is free from any fomi of discrimination on the grounds of nationality, ra￿. ethnicity, religion, sexual orientation or disability, or any other irrelevant factor. Bursary and Scholarshlp Pollclos Th8 Gov8rnors view bursary and scholarship awards as important in helping to ensure Children from families who would not otherwise b8 abl8 to afford the f88s have access to the education we offer. Although the College does not have the benefit of a historic èndowment to support bursary provision. we seek to maintain a fiJnd through appeals to fonner

Eltham College Directors. Report For The Year Ended 31 August 2024 pupils and existing parents to help finance such awards (the Bursary Fund). However, most bursary funding comes from the general account, which means we have to be mindful to ensure a balance bel￿een fee-paying parents, many of whom make considerabl8 pérsonal sacrifices to fvnd their child's educath'on. and thosè ￿neffitting from the awards. Bursary awards for new sludents to the Senior School are available to those who perfonn strongly in our general academic entry requlrements and are made solely on the basis of parentsl means. Bursary awards may also be made to students in all Ihree Schools to relieve temporary hardship where a student's education and future prospects would othetWi8e be at risk, for example, in the case of redundancy. We draw on the assistance of the charity Bursary Adminislr8tion Ltd with the process of thé objéctivé assessment and validation of financial data. Awards range from 10 /0 to 11)0 /0 remission of fees and are r&assessed annually. We have a Travel Club fund that supplements bursary awards to fvnd curricular school trips. We glso have a staff dtscount scheme wherèby staff members may be offered the opportunity to educate their children at Eltham College for a réducéd féè at the discretion of the Headmaster. Scholarships may be awarded to Senior School students on the basis of Ihe indiwdual's Academic, Sport or Artistic (Art, Drama, Mu$i¢l meril or potential, subject to any conditions imposed for parbcular awards by the original donor le.g. Leverhulme Trust). Scholarships are awarded with a fixed remission of fees of be￿een 10V/o and 50Q/o, which may be supplemented by a bursary. Pupil NUm￿rn and F••s The numèer of students educated at the three Schools remains strong. with 380 pupils at Blackheath Prep, 260 pupils at the Junior School and 782 pupils at the Senior School during the 2023124 academic year. Our temly fees for the past year, before the dedudion of any scholarships or m8ans-tested bursaries, were: Blackheath Prep Nursery- £4,915 Blackheath Prep Pre-Preparatory- £5,520 Blackheath Prep Preparatory- £5,975 Eltham College Junior School - £6,518 Eltham College Senior School - £7.929 STRATEGIC REPORT REVIEW OF ACTIVITIES AND ACHIEVEMENTS- 2023124 Senlor School Academic The 2024 A level and GCSE results continued to place Eltham College among the most academic schools in the county. The A level results wère 30 /0 A. grades, 680/0 A. and A grades and 920/0 A. to B grades. These were in keeping with the pr&pandemic high of 29 /ty A. and 70010 A. and A grades. From this year group, nine re￿iVed offers from Oxford or Cambridge with eight students now studying at Oxford. At GCSE, results We￿ among the strongest in South East London. 390/0 of all grades were 9s. 660/0 of all grades were 9s or 8$ and 880/0 were 9s, 8s or 7s. 82Q/o of students achieved eight 91817 grades or more and 450/0 achieved ten 91817 grades or more. Co£urrfcular & Partnershlp A¢llvltie8 The S¢hool has a particular interest in, and focus on, co<urri¢ular activitses such as art, drama, music. sport and trips, and is recognised as providing luition and opportunities in Ihese areas which is excellent by national standards. students in music enjoyed p8rformance opportunit18s during the Michaelmas term at the Celebration of the Piano and Voice. Further musi¢ perfomiances in the same temi included the Year 7 Showstoppers evening. an 'Early Music, celebration of Renaissance and Baroque at St Alfege in Greenwich whith featured composers Gabrielli, Purc811, and 10

Eltham College Directors, Report For The Year Ended 31 August 2024 Bach. a series of informal concerts, and various Christmas Concerts. The Lent term calendar highlights included the Celebration of Musical Theatr8 Concert, Inft)mal Concerts and Chamber Music Weeks. The ABT hosted the Jazz Concert, and the Eltham Coll8g8 Symphony Orchestra perfomed Ihe entire Beethoven 5 8t Blackheath Halls in March. Students also performed at Royal Albert Hall at the Proms Praise event, celebrating the life of Eric Liddell. ECCO Concert 2024, thèmed Reimaginations, featured a number of specially written arrangements includin9 a jazz version of Vivaldi's Wnter, and the orchestral centrepiece was Mussorgsky's Pictures al an Exhibition. Our String Octet perfonned at the Pro Corda gala concèrt in cèlèbration of winning the national chamber music competition earlier in the year. In Drama. sludents performed Romeo & Juliet as part of Ihe Shakespeare Schools Féstival., a four-night run of the musical Kipps- The New Half a Sixpence; Brainstonn as a partnership project wilh St Thomas More school at the Camden Fringe festival,. Odyssèy, Gothic Talès, and Chariots of Fire by smaller ¢a$ts in the junior, middle. and senior sections of the School rèspectiv81y. In Sport Students continved to compete re9ularty in fixturès. tournaments and tours in Rugby, Hockey, Netball, Crid(et and Aquatics. A highlight being a second cons8CUtiv8 undefeated season ft)r the U12 rugby team, winning all 13 fixtures with an overall +430pts difference. The U14 boys, hock8y team won their Kent tournament, and the U15 team secured third place in the National Independent Schools Hockey Cup. In netball, the U12A team finighed second in the Kent Netball County Tournam8nt. In aquatics, the U15 squad were pla￿ 5th and the U13 squad placèd 4th in National Girls Water Polo. SurKe$s in aquatics continued wih the Boys U13 team qualifyimng for the English Schools National Finals, being placed 11th and 18th in thè Freestylé and Medley Relays. A number of individuals were selected for repres6ntats.ve pathways. Notable individual success in sport included.. Emily Cadman 1 OOM and 200m champion at U17 Kent Schools National Athletics Championships., and Hayden Sanders winning 17 gold medals at the swimming County Championships. Students also ènjoy8d success in Chess, Cross-country, Danct, and Tennis. In Art, the work of Sixth Form Art student Uriel Jinadu (OE 2023) claimed the Sovereign Art Foundation Prizé. whist the Gerald Moore Gallery hosted Exhibitions from students and local artists across tides such as DT & Art A-Level & GCSE show, Next'.Previous, What's on Your Mind?, Essential Structures. and Press-gang. The Gerald Moor8 Gallery programme remains varied and dynamic. 'Everything is connected in life.. Art and Wellbeing. ¢oncluded th8 gallery's 3-year Art Therapy and Wellbeing in Schools Project. A year-lon9 'Art and Creativity in Schools, project supported by Mottingham Big Local finished in May, benefiling lo¢al primary school children. Ellen Eburah Iyear 10} won the prize for presentats'on at this years National Discover Articulation finals coordinatsd by The National Gallery and held at Leeds Univetsity. STEM teams and senior debaters also performed strongly in national and intemational competition$= debaters winning the Ambassadorfs Frankly Speaking Debating competition at the US Embassy The curriculum continues to be ¢omplemented by a broad range of trips and expeditions, which this year in¢luded= Sports tours to Dorset, Midlands, Scotland. France, Spain, and South Africa.. Christian Union trips to Kent.. Language visits to Cologne, Munich, Paris, and Montpelli8r,' G8ography to Iceland, Yorkshire and Liverpool,. Drama to Athens., Art to Cornwall and Madrid,. Physics to CERN Swilzerland,. D.T. to Italy., and Classics to Greece. Our students once again fundraised for International Needs Uganda. with the charity b8nefiting from some of the near £30,000 students fundraised for ¢h8ritable causes in 2023124. A group of 12 Lower Sixth students ran from P8rks to St Andrews, marking the Eric Liddell 100 anniversary and in doing so raised fvnds for charities. Junior School 2023124 saw 260 pupils on roll at thé Junior School with continuéd strong admissions at both 7+ and 8+ For the first time, all year groups in the Junior School weré Co-éducational with a roughly 50150 balance across the girls and boys. During the year we 5UPPOrted several charitable organisations including Living Well, Bromley and our Intemalional Needs tharity whioh is supported across the wider school community. W6 also visited a local residential Care home before Christmas to entertain the residents with musi¢ and share Christmas Cards. Our community also ¢olle¢ted toys and games for young Children in Lewisham at Christmas. Our provision for clubs continued with children taking part in a range of activities before, during and after the school day. Our pupils continued to dèvèlop musically with over 180 children learning at least one musical instrument with our visiting music teachers. 58 children had lessons in instruments with nine having lessons in three différént instruments. Consequently, many children took fomal instrument exams and achièved excellent outcomes. LAMDA continued to be a popular part of school life for our children with almost 60 taking formal exams. Our chess teams conts'nued to thrive with our girls being Nabonal Chess Champions. Every child at the Junior School exlhibited at least

Eltham College Dlre¢tors' Report For The Year Ended 31 August 2024 one piece of art in our Junior School exhibition in the Gerald Moore Gallery. This induded collaborative ple￿$ as well as individual designs. Blackheath Pr• Blackhealh Prep enjoyed a successful and impactrul academic year, 2023-2024. There were 386 pupils on roll, wlth continued stron9 interest at the key points of admi$gion.' Nurtsery and 7+ The School made excellent progress towards its key objectives outlined in the Slralegic Aims and the priorities identified in the On8 Yéar School Improvement Plan were achieved. Plans for the School's nexi Thréé Yéar Development Plan We￿ finalised at the end of the academic year in Pfeparation for the 20241>202718 ¢yde, reinforcing the School's commiknent to strategic devélopment and operational excEllence. The academic framework has undérgone significant refinement in re￿nt years, resulting in the full roll out of our updatsd curriculum across the 20234 academic year. Updated progression maps, parent handbooks, and the integration of vertical, horizontal, and diagonal links across subjects has facilitsted excellent opportunities for leaming. Key initiatives included thé successful implementation of the Read Write Inc programme in English and the extension ofthe Mastery approach in Maths. New assessment schedules and targeted téa¢hertraining and development sessions focusing on areas such as Rosenshine's Principles and vocabulary development, have supported a culture of continuous improvement in teaching and lèaming. staff development remains a Gornerstone of the School's ethos, with regular appraisals, and tailored training sessions, including leadership development and specialised support in SEND. Sevéral staff members are pursuing advanced qualifications, and re￿nI recruilmen( such as appointing a now SENDCO, have strengthened the team further. The newly design8J appraisal system, now in its third term, emphasises both professional growth and staff wellbeing and is having 8 positive impact on staff professional development and retention. In the area of pastoral care and student wellbeing, the class teacher model and enhanced Fonn Time initiativès have contribut8d to a calmer, more supportive learning ènvironment, with 920/0 of pupils acknowledging the value of their Form Time. Complementary initiatives in playtimes, safeguarding, and active pupil engagement Ihrough the School Council furthér underscore the School's comprehensiv8 approach lo foslering 8 nurturing atmosphere where pupil voice is prioritised. In addition, the retention of subject specialist teaching in the Arts, Sport, S¢ience and Technology have further strengthéned a¢ademic development, whilst valuing the importance of pupil wellbeing. Thé Cr￿curriCUlar programme continues to thrive, with over 70 clubs and activilies, alongside a comprehensive wraparound care system ènjoying high attendance. In addition to a diverse range of trips. workshops, and music 8nsembles, bolstered by new staff appointrnents, the School has maintained a strong emphasis on the breadth and depth of the curriculum. Successful inter-house events, alongside annual productsons, Gon￿rtS and a significant programme of fixtures, have also significanlly enriGhéd the pupils, experien￿S. Furthermore, several day trips and three residential trips were facilitated. The earfy years. provision. encompassing Pre-Prep. Nursery, and EYFS, has delivered exceptional results, with EYFS outcomes significanlly su￿asSIng local and national averages. Desptte uncertainties around VAT, Nursery applications remain robust, supported by enhancements in continuous provision and outdoor leaming environments. Senior school transfers have béen a notsble success, with Year 6 pupils achieving outstanding outcomes. including numerous independent school offers and scholarship awards. Th8 refined 11+ process, marked by increased parent engagemenl and robust support mechanisms, ensures that transitions remain smooth and Ihat the School continues to deliver a balanced, broad curriculum with exceptional academic out¢omes. Financial and operational highlights demonstrate positive progress on the School Improvemenl Plan, wbth strategic investments planned for School facilities. Fundraising efforts Ihrough PTFA events and charity initiatives have also generatsd welcom8 revenue, fvrther supporting community outreach and operational enhancements. Looking ahead, Bla¢kheath Prep is focused on implementing Ihe next thré8 year cycle of our School Development Plan whilst delivering an ambitious programme of dassroom and site refurbishments. This will enable us to sustain academic excéll8nce within a nurturing pastoral environment where ¢QTh¢urricular provision remains exceptionally strong. Gerald Moore Ga110 The Gerakj Moore Gallery (GMG), now in its tsvelfth year. hosted 10 exhibitions and welcomed over 5,000 naw and repéat visitors. Partnerships with the local community have remained central to the gallery's mission. 12

Eltham College Dlrectors, Report For The Year Ended 31 August 2024 Since September, students from various local stste schools have benefited from GMG'S expertise and facilities. The gallery's ongoing relationship with Mottingham Big Local Refocused IMBLR> has led to long-term projects with both Elmstead Wood Primary School and St. Vincenys Catholic Primary School. Following the SU￿esSfUl completion of an art therapy project in schools last academic year, the 'Art and Creativity in Schools, Initiative ran from Septsmber 2023 to May 2024, offering free weekly on-site art workshops to students in Years 2 to 6 at these schools. In addition to these projects. GMG hosted a solo exhibilion by Eltham Arts ft)under Pragya Kumar in early 2024, further strengthening its partnerships within the local arts communty- GMG has also continued its collaboration with Eltham College, working wth the Art Depattnent to present one exhibition each temi. Highlights included the well4eceived Art Scholarfs Dear Earth exhibition, as well as Together on aARTh, a show that featured athork from every student in the Junior School. In collaboration with the Music Department, GMG brought together music and art in a unique exhibition that explored the relationship be￿een the hvo. Learning has remained a key focus at GMG. Throughout the year, the gallery hosted a variety ofworkshops, talks, and work experien￿ placements, bringing together a diverse group of people and solidifying GMG'S role as an accessible and vital creative space in South East London. During the 202312024 season, the gallery hosted the following exhibikn'ons= Next.. Provlous A group exhibition curated by Steven Scott {2- 30 September 2023) NOW 2023 Art school graduates exhibition that included works by Abdulmohsen Al Bin Ali, Syeda Aatik8 Fatima, Angélique Nagovskaya, Sean Synnuck. Zinong Zhang and Paula Zvane.(12 October- 25 November 2023) Doar Earth Eltham College Art Scholars exhibition Curated by the Art Department.17- 9 December 20231 Everythlng Is connected In lrfe.. Art and Wellbeing An exhibition that celebrated the conclusion lo GMG'S &year Art Therapy and W8llb8ing in Schools project. {11 January 3 Febwary 2024} What's On Your Mind? Pragya Kumar's solo exhibition. Kumar runs Eltham Arts, 8 local voluntary arts organisation which aims to connect arts to the community- {29 February- 6 April 20241 Press-Gang Luke Burton {Artist-in-Residence 2023- 2024) solo éxhibition. (22 April - 18 May 2024) Together on eARTh Eltham College Junior School Summer Art Exhibiknon 2024121- 23 May 20241 GCSE Art Exhibition (6- 8 June 2024) A Level Art Exhibition (19- 22 June 20241 Essential Stm¢tures Annual open call exhibition with athorks inspired by the broader interpretations of Minimalism. (6- 27 July 20241 The highlights of the year Included.. GMG'S classes. workshops, events. and holHlay programmes attracted many visitors. showcasing the fantastic artists and creatives involved. This was a testament to the relevance and popularity of the offenngs. which included after-school art classes. adult painting courses, Life Drawing for 6th Formers, Christma5 workshops. Summer Art Camp, artist talks. and our free Craftemoons. In September 2023, The Garden of Hope, a collaborative projed initiatèd by artists Mary Bank8r and Eliana Rico, was installed in the Guy Hughes Library at the Junior School. Previously displayed in GMG'S Glass Link. the installation explores transforrnation. ￿lebrating the connections bebveen hope, ath'on, and Change. The animals and plants in the installation wère ¢rafted from reGy¢led rnaterials and ¢reated by the artists with the help of 400 schoolchildren at Blackheath Prep over 18 workshops. 13

Eltham College Dlrectors, Report For The Year Ended 31 August 2024 In October 2023, Nicola ￿llIaMS joined GMG as a new gallery assistant, bringing a wealth of experience in leading art and creative workshop$ for Students of all ages. In collaboration with the Art and Musi¢ departsnents, GMG hosled an Evening of Art and Music on Friday, 3 November 2023. The event featured art and musical perfomances by talented students, with the exhibition NOW2023 serving as the backdrop for the perfomiances. December 2023 saw the gallery host a series of well-received creative Christmas workshops, induding wreath-making and casting decorations in Jesmonite. In March 2024, Year 6 students from Eltham College worked with artist Pragya Kumar during her exhibition What's on Your Mind? to learn the traditional SoLth Asian art fomi of Warfi, using natural materials. Several of these works were displayed in the Junior School Summer Art Exhibition. Kumarf5 solo exhibition also featured collaborakn've ar￿rkS created with local artists and children from primary schools-Haimo Primary and Wyborne Primary. In May. we hosted the highly anticipated Junior School Art Exhibition.. Together on eARTh. This colouthl and vibrant show displayed 8 work by each student from the Junior School, celebraltng their creativity and exuberanc8. On Saturday, 6 July 2024, we held a private view for Essential Structures, an afternoon filled with both art and music. Guests enjoyed musical performances by Eltham College sludents, who played scores inspired by the exhibition's théme of Minimalism. The athorks in Essential Struotures were select8d by a pan81 of 22 Art Scholars. Our holiday creative workshop5 for children including our summer art day camps, which totslled over 40 throughout the year, proved to bè extremely popular, with many dates selling out. Highlights included painting and drawing animals from lif8, pumpkin carving, ghadow puppets, and batik painting. PUBUC BENEFIT- 2023124 In accordance with its ststus as a Registered Charity, the TTUStees' Board is mindful of ils obligations to prowde public benefit over and above its nomial educational servic8s. We audit on an annual basis the public benefit provided by the schools. We educated 1,422 children during 2023124 As a matter of policy, we provide access to our education to Children from families who would not ¢)therwise be able to afford the fees. In this year we provided financial help to 357 students as follows.. Yr4 Yr5 Yr6 Yr7 Yr8 Yr9 Yr10 Yr11 L6 U6 2 bursaries. O scholarships 1 bursary. O scholarships 1 bursary, O scholarships 4 bursaries. 43 scholarships 6 bursaries, 57 scholarships 4 bursaries. 47 scholarships 2 butsaries, 51 scholarships 4 bursaries, 37 scholarship5 6 bursaries. 50 scholarships 2 bursaries. 54 scholarships The School's financial contritrtrtion toward5 these fee remissions for the year was £2,362,869. The School also contributed £5.082 towards music lessons for five pupils. In addition, £126,960 was transferred from our Restricted Funds to allow six pupils to study at our School. Students in r￿1p1 of a scholarship may have been awarded mults.ple scholarship types. Some pupils hold both a means-tested bursary and a scholarship, and we are aware that in a significant number of instances the award of a scholarship has provided financial support whi¢h would otherwise have been required on a mgans tested basis. In addition, there are partnerships with Thomas More school for opportunitiès in drama perfonnance and the teaching of Latin. We also value our patherships with local state primary and secondary schools for opportunith'es in the Arts. 14

Eltham College Dlrector8' Report For The Year Ended 31 August 2024 The School's Charities Committees raised £13,378 for a numb8r of charities in addition to monies raised for Uganda. Local Community Engagement and Use of Facilitles The Senior School has a nationally recognised programme of Community Service and almost all students take part in this for a portion of their time in the Sixth Fomi. This involves Cowoperation with Primary and Nursery Schools. Special Schools, care or nursing home$, and communty or day care centre5. Over 150 pupi15 in Year 9 and above took part in the Duke of Edinburgh Award Scheme, which includes volunteering as one of its elements. This involves all pupils providing extra help within the communty in activities that range from assisting Scouts, Guides. Cubs and Brownies, to working in Charity Shops. A lot of students also volunteer wrthin Eltham coll￿e, assisting in the library, as mentors to younger students or helping run a c curricular club. These activit.es teach students more about society and the needs of others as part of their education. Now in its third y8ar. our Teaching Insight Programme hosts undergraduates to gain a taste ofteaching as a career. They have spent time both in the Senior and Junior Schools in departments related to their degree courses. Eltham is a pioneer in running this kind of initialive for which the obj-ective is to attract mor8 young people into teaching from historically under-representsd backgrounds. The Senior and Junior Schools collected for foodbanks in Mottingham and Bromley, in addition to book donations for ABC Book Club in support of fumishing the library at Cardwell Primary School in w00￿1¢h. Many local schools continLke to make use of the Eric Liddell Sport Centre. Beyond the swimming pool, the climbing wall and sports fièlds have been utilised for GCSE assessments and sports days. The latest community proj8Ct is the administrating and hosting of the Bromley Primary S¢h¢)ols Cricket Toumament in the summ8r t8rm. The Gerald Moore Gallery outreach programme engaged with ovér 150 pupils across 8 local schools. The flagship art therapy programme in partnership with Big Local pioneering support through a￿StiC activity- Other activities indudéd.. a oné-year Art & Craalivity in Schools project, supported by Mottingham Big Local Refocused, which ran art workshops at state schools.. Sl. Vincent's Calholic Primary Sthool and Elmst8ad Wood Primary School. The project benefitted more than 200 students from Years 2 to 5. three Graftemoon sessions on Saturday 21 October 2023. Saturday 6 April 2024, and Saturday 13 July 2024, where families were invited to create athiorks. Free art materials were provided for both kids and adutts, fostering a fun and easy-going atmosphere for explorakn'on. The free sessions We￿ well-attended, with over 120 individuals from the local community parttcipating. In February and March 2024, hosting a series of three art workshops for 12 sixth-fom students from Darrick Wood School, introducing them to plaster casting and life drawing. On 8th March 2024. 23 Year 5 students and 5 brtors from Haimo Primary School visited What's On Your Mind?thrnan exhibition by Pragya Kumar. The students had previousty collaborated with Kumar to creats athorks, and they were thrilled to see their work displayed in the gallery. On 18th March 2024, 50 students from Wbome Primary School visited Whats On Your Mind? to view their collaborative athorks created with Kumar. As part of the Whafs On Your Mind? exhibition programme, Kumar also hosted several free ¢ommunity arts and wellbeing workshops on select Saturdays. The exhibition focused on arts, wellbeing, and the ￿ of Sustainable materials in visual arts. These workshops offered an insight into the exhibition's themes and included a sound bath by Fiona Gulec. weaving by Nicola Reid, and art & wellbeing sessions with Shemiaino Slocombe. Throughout the year, the gallery offered work experience pla￿ments to students from state schools, providing them with valuable insight into how gn art gallery is programmed and managed. We hosted 8 students through our partnerships with Lèwisham WEX and other schools in South East London. 15

Eltham College Dlrectors, Report For The Year Ended 31 August 2024 Eric Liddell Sports Cent Eltham College is the home of Eric Liddell Sports Centre, a public facility originally fvnded by the National Lottery and the London Borough of Bromley On 31 August 2024 the centre had 166 active a114nclusive members, an increase of 18 on the previous year. 4932 guest users registered to use the gym, swimming pool, studio classes and sports hall for activities such as badminton and table tsnnis, an increase of 1376 on Ihe previous year. 203 registered Eltham College stsff family members. 53 pupils were registered to use the fa¢ilibes during public opening hours. Membership con￿SsiOnS are provided for the unemployed, to families in receipt of Universal Credit, the over- 60, full time students, amed forces personnel, and emergency seNices workers. Swimming lessons were provided to 10 local state and indépéndént schools throughout thè school y8ar {ov8r 500 children). The swimming pool continues to be made available on a weekly basis to a disabléd swimming association free ofcharge (The Sharks of Mottinghaml, whose members have achieved international compelrtion success. Eric Liddell Swimming Academy teaches over 700 children to swim on a weekly basis through its Group and 1-2-1 lesson with occupancy of 87Y• across all abiliti'es. The academy is accredited as a Swim England Centre of Excellence. Eric Liddell Sports Centre is the chi￿￿ venue for many local sports clubs and district squads. including Swimming. Badminton. Cricket, Martial Art, Football, Hockey. Basketball and Netball Clubs. The Cenlre is a registered training ￿ntre the Royal Life Saving Society. Delivering Ofqual regulated first aid and rescue qualifications for lifeguarding and teaching. Children's Multisport, Football and Swimming Pool birthday parties are hosted at weekends. The College is the home ofthe Old Elthamians Sports Clubs= Junior Rugby and Cricket sections, as well as Blackhe8th and Elthamians Hockey Club. These partnerships permit many local children and adults to participate in hockey, cricket and rugby at all levels on the College site, making full use of the excellent facilities outside core school hour5. 16

Eltham College Directora, Report For Tho Year Endod 31 August 2024 STREAMUNED ENERGY AND CARBON REPORTING Current UK based annual energy usage and associated annual greenhouse gas l GHG") emissions are reported PUTsuant to the Companies (Diredors. Report) and Limited Liabilty Partnerships (Enérgy and Carbon Report) Regulations 20181.the 2018 Regulations.) that Came into force 1 April 2019. In accordance Ihe 2018 Regulations, the energy use and associatsd GHG emissions are for those assets owned or controlled within the UK only as définèd by the opérational control boundary. This includes staff housing, a junior School, senior school, and Blackh8ath prep, which joined Eltham College 1 September 2023, along with ccmnpany vehicles and personal vehides used for business mileage {'grey fleev). The annual r6POrting period 1$ 1 September to 31 August each year and the energy and carbon èmissions arè aligned to this period. The 2019 UK Government Environmental Reporting Guidelines and tha GHG Protocol Corporate Accounting and Reporting Standard (revised edition} were followed. The 2024 UK Government GHG Conversion Factors for Company Reporting were usèd in èmission calculations as these relate to the majority of the reporting period. The report has béén r8vi6wed independently by Zenergi Limited (trading 2$ Briar Consulting Engineers Limited). Electricity and gas consumption were based on invoice records, while mileage and fuel purchase records wéré used to calculate energy and emissions from company vehicles. There is no grey Ileet reported this period. Where data falls outside the reporting period, the apportioning technique has been applied to ensure alignment. Where gaps in data wère identified, the direct comparison technique has been applied as well as prrprata estimations. Gross calorific values were used eX￿pt for mileage energy calculations as per Government GHG Conversion Factors. The emissions are divided into mandatory and voluntary émissions according to the 2018 Regulation$, then further divided into the direct combustion of fuels and the operation of facilities (scope 1). indirect emissions from purchased electricity (scope 2) and fvrtheT indirect emissions that oGGur as a ¢on$equen¢e of ¢ompany a¢tivities but oGcur from sources not own•d or controlled by the organisation {s¢ope 3)- Breakdown of energy consumptlon used to cal¢ulate emission8 IkWh>: (Note.. 2022123 relates to Eltham College onty. 2023124 includes Bla¢kheath Prep) 2022123 2023124 Energy type Mandato Gas Purchased eledricity Transport fuel & grounds vehides Total energy (mandatory) 2,669,491 1.130,847 70,028. 3.870,365 2.663.546 1.405,006 85,820 4,154,282 Note.. figures may not sum due to rounding 'Figure adjusted for accuraGy Breakdown of emi8sion8 a8sociatsd with the reportgd energy uso {tCO2e): Emlsslon sourco Mandato Scope 1 Gas Company t)wned vehicles Scope 2 Purchased electricity Ilo¢ation-basedl S¢ope 3 Category 6.. Business travel (grey fleet) Totsl gro88 eml88lon$ (mandatory) 2022123 2023124 488.3 17.4. 487.1 21.6 234.2 290.9 740.6 799.6 Note.. figures may not sum du8 to rounding "Figur8 adjust8d foraccuracy 17

Eltham College Directors, Report For The Year Ended 31 August 2024 Inlonsity ratio Intensity rati08 Mandato emissions onl Tonnes of C02e per pupil 2022123 2023124 0.715. 0.567 'Figure adjusted for acGiiracy The intensity ratio is total gross 8mis$ions in metri¢ tonnes CO£ (mandatory emissions) per total pupil, which is the recommended ratio for the sèctor for consistency and comparability. Thi$ metri¢ relates lo UK operations only to align th the energy and emission reporting boundary and is also considered th8 most relevant to the Company's energy consuming activities and provides a good comparison of pérformance ov8r lim8 and across different organisalions and sectors. In the reporting period, September 2023 - August 2024, across the Family of Schools there has been an ongoing review of usage to identify areas for improvement, including installing new and more efficient boilers in the Scien block. and planning additional boil@r installations across the estate. Ellham College remains committed to reducing its carbon footprint and continues to look out for new energy saving and nding opportunib'es going forwards. Flnanclal Revlew and Ros•rve$ Poli¢y The Group's operating surplus was £1,198,470. Taking into ¢on$ideration restricted and other funds the total of net incoming resoUr￿S before investment gains as shown in the Ststsmenl of Financial Activities was a surplus of £2,410,718. Not8 15 to thè accounts shows the assets and liabilities attributablé to the various funds by type and also describes the various trusts of the Charity and summaTises th8 yearfs movements on each fund. After transfers to and from restricted and other funds the General ReseNe (the Yree reseNes'l within the Group's unrestricted funds at 31 August 2024 lotalled £22,621,993 (2023.. £21.098,615}. The Board's policy is to maintain and, where possible. strengthen Ihe Group's financial position to enable the ¢onlinued development of School facilities. Tangible fixed assets are held for use by the Group. The Governors are unable to estimate whether the current material value of these assets is materially different from that shown in the accounts. Inve8lment Policy The Trustees, investment powérs are governed by the Articles of Assoriakn'on, which permit thè Charity's fvnds to be invested in any security listed on the London Stock Exchange. Grant4daklng Pollcy The Govemors, policy, in line with that of other Independent Schools, is to rnake these awards on the basis of the individual's educational ability, subject to Ihe particular conditions imposed by the donor where the award is out of restricted fvnds. All schOla￿hlpS and oth8r awards are subject to annual review. Fundral$lng and Othor Work Undertaken by tho Development and Careors Offl¢e The overarching purpose of the Development Office is to offer support and assistance to ￿ture. Cur￿ nt, and former students. In addition, we are wort(ing to support the Schools in raising funds for infrastructural projects - at present focusing on the redevelopment of the scien￿ Centr8. Over the last three years, our efforts have been focused on engaging, in a personal manner, current parènts, fomer parents and OES to secure substantial financial support to meet the needs of the College and improve our public bénefit. The Places and Spaces campaign launched in February 2022 with tsvo clear goals. Firstly, to providé 100-110/0 bursaries and secondly, to provide funding for the refurbishment of science labs as part of the wider regenèration and growth otthe Eltham College Science & Technology Centre. In 2023. a decision was made to explore the establishment of a Places and Spaces Bursary Endowment Fund- effectively a third goal of the campaign. The campaign involves engaging wlh potential major donors to tell our story. rélay our aspiralional plans, and make requests for financial supporL During the period September 2023 - August 2024 ten major donors provided £1,236,416 (include gift aid). This induded a onewoff £1,000,000 donation towards the Pl8¢es & Spa¢8s Bursary Endowment Fund. Regular giving brought in £117,657 over the same period made up of 575 don0￿ providing over 2,890 gifts. This is an increase of 18

Eltham College Dlrectors, Report For The Year Ended 31 August 2024 350/9 compared to the previous year. Thanks in part to fundraising efftirts. 24 students are now attending the College on 100 percent bursaries and the new extension to the Science Centfe opened in September 2024. In October 2023, the Development Team conducted two legacy discovery days with a view of Èstablishing a legacy giving campaign to help fiJnd the Eltham Col￿ge Bursary Endowment Fund. Attendees were carefvlly selected using a number of criteria and attendance was excellent. Based on valuable feedback from the discovery days, a legacy strategy and bespoke materials were developed. followed by the launch of a legacy giving campaign in April 2024. This campaign has been very su¢cessfiJl to date, we have received five confimed legacy pledges. In addition, the legacy campaign wa5 the catalyst that led to engagement with an Old Elthamian who has provided a gift of £1 mi1Sion towards the Endowment Fund. Administration and stewardship practices for current donors are fvlly embedded and working well. Payment arrangements are discussed with donors, grant agreements are drafted and signed by all parties. Future donations are carefvlly plotted on Raiser's Edge (our CRM) and donors re￿1ve timely updates and reminders of donations due- all of this is constanuy checked and kept up to date on separate spreadsheets as well. Another important aspect of our work involves eng4ing wilh our alumni and fostsring a sense of communty betsveen them, current students and the School. In this regard, our efforts are underpinned by our online platform, the Ellhamians Network. As well as enabling Sixth Form students and ￿cent graduates to contact Old Elthamians to request advi and guidance about fvture Study or career pathways, the platfom also supports our ambitious Lower Sixth Form Work Experien￿ Programme, generating innumèrabl8 OPPOrtuniti8s across a wide range of sectors. Importantly, the 'Wlling to help, option allows members to signpost how they want to get involved, which has facilitstsd excellent engagement with the Sthool. providing sp8ak8rs for societies and other events, as well as the Scholarship Programme. Our Oxbridge. Law and MédicslDentistslVets Programmes also benefit from a high level of OE support, with many acting as mentors and mock inteNiewers. In 2024, V￿ wer8 able to harness the power of our alumni ne￿ork by organising a weèklong programme of lunchtime talks for students of all ages, delivered by inspirational female OES, to mark Intemational Women's Day. Then in June, 50 members of the OE ¢ommunity gathered in School to participate in our inaugural Speed Ne￿OrkIng Event for Lower Sixth Fotm students. It was a remart(able event, from which students derived a hug8 amount of benefit, and OES were genuinely appreciative of the opportunity to give something back to the School. Finally, the new Careers Hub, based in the library and at the centre of the School, provides the opportunity to highlight the career journeys of some of our more recent alumni, and in so doing. off8rs inspiration to current students as they consider they post 18 pathways. Overall, the Dèvelopment Team has played an important role in the provision of funds for bursaries and science, however there is much to do to ensure that the Team can help support the goals of the School$ and our focus on widening public benefit through continued financial assistance. Princlpal Rlgks and Un¢ertalntles The Board has examined the principal areas of the three Schools. operalions and considers the risks faced in each of these areas through regular review of the Risk Register at Govemors, meetings. There are thirteen key risks for which the various mi'ga'ng actions are kept under review and uwlated regularly by the Senior Leadership Team. Not recruiting the correct number of high caliber students of bolh genders Failure to maintain a high16vel of academic stsndards Failure to maintain a vibrant co-curricular programme Failure to recruit or retain high qualty stsff Decline in pastoral provision or failure to deal appropriately with the welfare and safeguarding of children 6. Failure to achieve an IT architecture that enabkn the Schools to achieve academic success A major Health and Safety incident occurs 8. Failure to maintain and adequately develop the Schools, prémisès. grounds and facilities which impacts on recruitment or the ability of the S¢hool to fiJn¢tion 9. Inadequate governance 10. The Group's finances fail to provide for the needs or aspiration of the Schools 11. Failuré to stay ahéad of, or prépare for. risks in the wider political and economic 8nvironmènt 12. Inspection failure 13. Unplanned or unexpected loss of CEO, Heads, Bursar or Chaimian Each of th6 mitigating actions is plannéd into the annual budget, and résponsibility for the mitigating actions allocated to a named senior member of staff. In the opinion of the Governors, Eltham College has established resources and 19

Eltham College Directors, Report For The Year Ended 31 August 2024 review systems which. under normal conditions. should allow these risks to be mitigatsd ti an a¢￿ptable level in its day-to-day operations. Going Concern The Group has budgeted to achieve a profft in 2024125 and current pupil numbers are strong. Consequently, the Govemors have a reasonable expectation that the School will have sufficient funds to continue to meet its liabilities as they fall duè for the foreseeable future and therefore have prepared the financial statements on a going concern basis. 20

Eltham College Dlrectors, Report For The Year Endod 31 August 2024 Trustees, Responsibilities in Relation to the Financial Statements The Ttustees (who are also directors of Eltham College for the purposes 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 ￿'ngdorn Generally A¢￿pted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the stste of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the Trustee5 are requir8d to.. select suitabl8 accounting policiès and th8n appty them consistently- observe the méthods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent., state whether applicabl8 UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prépare the accounts on the going concern basis unless it is inappropriats to présumé that the chariLgble company will continue in operation. The Tnjstees are responsibl8 for kè&pin9 ad8quats a¢￿Unting records that disclose with reasonable accuracy at any time the financial position of the charitable company and énable them to ensure that the financial statements comply with the Compani8s Act 2006. They are also responsible for safeguarding the assets of the charitable company and hènce for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware.. there is no relevant audit information of which the charitable company's auditor is unaware., and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomiation and to establish that the auditor is 8war8 of that infomiation. This report has been prepared in accordance with the Statement of Recommended Practice.. 'Accounting and Reporting by Charities.. Approved Board of Governors on 26 March 2025 and signed on its behalf by.. P DOYLE Chair 21

Eltham College Independent Auditor's Report to the Members of Eltham College For The Year Ended 31 August 2024 Independent Auditor's Report to tho Mombors of Eltham College Oplnlon We havè audited the financial statements of Eltham Co[￿e (the 'parent charitable company,) and its subsidiaries (the 'Group'} for the year ended 31 August 2024 which compris8 the Consolidated Statement of Financial Activities, the Consolidated Summary Incom8 and Exp8nditure Account, the Group and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including 8 summary of significant accounting policies. The financial reporting tramework that has been applied in their preparation is applicablé Saw and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting standard applicable in the UK 8nd Republic of Ireland (United Kingdom Generally Accepted Accounting pra￿1￿}. In our opinion the financial statements- give a true and fair view of the state of the Group and parent charitable Gompany's affairs as at 31 August 2024, and of the Group's incoming resources and application of résourcès, including its income and expenditure, for the year then ended. have been properly prepared in a¢cordance with United Kingdom Generally Accepted A￿OUnting Practi￿., and have been prepared in accordance with the reqU1￿MentS ofthe Companies Act 2006. Basls for Opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS IUK}} and applicable law. Our responsibilities under those stsndards are further described in the Auditols responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordanc6 With the ethical requirements that 8re relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our oth8r éthical responsibiliti'es in a￿ordanCe with thesè r8quir8ments. We believe that the audit 8vid@nce we have obtained is suffiaent and appropnate to provide a basis for our opinion. Con¢luslon8 Relating to Going Concern In auditing the financial statements, we have concluded that the Trustees, use of thè going concem basis of a¢¢ounting in the preparation of th8 financial statements is appropriate. Based on the work we have perfomed, we have not identified any material un¢ertainties relating to events or Conditions that, individually or collectively, may cast significant doubt on the charitable ¢ompany's ability to continue as a going concem for a period of at least tsvelve months from when the financial statemen18 are authorised for issue. Our responsibilities and the respon5ibililies of th8 Trustees with respe¢t lo going concern are described in the relevant S8clions of this report. Othèr Infomiatlon Th8 other infonnation comprisés the information included in the Trustees, annual r8port, other than thè financial Statements and our auditor's report thereon. The Trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other infomation and, except to the extent otherwise explicitly stated in our report. we do not express any fom of assuran￿ conclusion thereon. Our responsibility is to read the oth8r infonnatson and, in doing so, Consider wheth8r the other information is materially inconsistent with thè financial statements or our knowledge obtained in the course of the audit or otherwise appears to be matenally misstated. If ￿ identify such material in¢onsi$lenaes or apparent material misstatements, we are required lo deteThin8 whether this gives rise to a matsrial misstal8m8nt in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other informalion, we are required to report that fa¢t. We have nothing to report in this regard. Opinions on Other Matters Pro$¢rlbed by tho Companies Act 2006 In our opinion, based on the work undertaken in the course of the audÈL- the infomation given in th8 Trustees. report {incorporating the direclors, report and Strategic Report) for the financial year for which the finan¢ial statements are prepared is consistent wrf(h the financial ststements,. and the Tw8tées' report has been prepared in accordance with applicable legal rèquirements. 22

Eltham College Independént Audltor's Report to the Members of Eltham College For The Year Ended 31 August 2024 Matters on Which we are Requlrod to Report by Exception In thè light of the Kno￿edge and understanding of the Group and the parenlcharitable company and its environment obtsined in the course of the audit, we have not identified material misstatements in th9 Trustees, report. We have nothing to report in respect of the following matters in relation to which the Companiès Act 2006 rèquirés us to report to you if, in our opinion.. adequate a¢¢ounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us,. or the financial ststements are not in agreement with the accounting records and returns. or rtain disclosures of directors. remuneration specified by law ar8 not made,. or we have not re*ived 811 the infomation and explanations we require for our audit., or the Trustees were not entiued to prepare Ihe financial statements in accordance with the small companies, regime and tske advantage of the sm911 ￿mPanIeS, exemptions in préparing the directors, report and from the requirement to prepare a stratsgi¢ reporL R•sponslbllltl•s of Trustees As explained more fully in the Trustees. responsibilits'es ststement set out on page 11, the Trusteès (who ar8 also the directors of the charitable company for th8 purposès of company lawl 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 th8 preparation of financial stat8m8nts that are free from material misstatsmenc whether due to fraud or error. In préparing the financial statements, the Trustees are responsible for assessing the group and parent charitsble company's ability to continue as a going concem. disclosing, as applicabl8, matters related to going concèm and using the going concérn basis of accounting unless the Trustees either intend to liquidate the charitsble company or to cease operations, or have no realistic alternative but to do so. Audltotrs ResponsSbilitlos for tho Audit of tho Financlal 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 lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bui is not a guarantee that an audit cOndu￿ed in acwrdan with ISAS (UK} will always detect a material misstatemént ￿6n it exists. Misstatements can arise from fraud or error and aré considered mat8rial if, individually or in thé aggregate, they could r8asonably b8 eX￿cted to influ6nc8 the eeonomic dècisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-complian￿ with laws and regulations. We design procedures in lin6 with our r8sponsibilitiés, outlined above, to detect material misstatements in resp8Ct of irregularities. including fraud. The specific procedures for this engagement and the extent to which these are ¢apable of detecting irregularities, including fraud, is detailed below.. Reviewing the reports of any regulatory inspections carried out in the year., Enquiry of management and those charged with govemance around actual and potential litigation and claims as well as actual, suspectèd and allégéd fraud- Reviéwing minutés of meetings of those charged with g0veMan￿.. Assessing the extent of compliance with the laws and regulations consider6d to hav& a direct material efféct on the financial statements or the operations of the company through enquiry and in$pe¢tion', Reviéwing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and rngulations.. Performing audit wort over the risk of managém8nt bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitstions of an audit, thèrè is a risk thatwe wll not detect all irregularities, including those loading to a material misstatement in the financial statements or non<omplianc8 With regulation. This risk increases the more that ¢ompliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will bé 18ss likely to become aware of instsnces of non-complianc8. Th8 risk is also greater regarding irrègularities o¢curring due to fraud rather than error. as fraud involvés intentional concealment, forgery, collusion, omission or misrepresentation. 23

Eltham College Independènt Auditorfs Report to the Members of Eltham College For The Year Ended 31 August 2024 A ftjrther description of our responsibilities is available on the Financial Reporting Counal's website at". https..IlvNM.frc.org.uklOur-WorklAuditlAudit-an¢>assuran￿stsndardS-and-guIdance1stand2rds-and-gUid8nce-f0r -auditorslAuditors-responsibilities-for-audiUDescriplion-of-auditors-responsibiltties-for- audit.aspx. This description fom$ part of our auditorfs reporL Usg of our Roport This report is made solely to the GTOUP and charitable company's members. as a body, in accordance with Chapter 3 of Part 16 ofthe Companies Act 2006. Our audit work has been undertaken so thatwe might state to the charitable company's members those matters we aré required to state to them in an auditorfs report and for no othér purpose. To the fullest extent permitted by law. we do not a¢￿pt or assume responsibility to anyone other than Ihe charitable company and the charitable company's manbers as a body, for our audit WOTk. for this report, or for the opinions we have fomed. John Howard FCA (Senior Statutory Auditor) For and on behalf of Azet5 Audit SeNi<%S Statutory Audrtor 2￿ Floor, Regis House 45 ￿'n9 Imlliam Street London EC4R 9AN Date: 25 April 2025 24

Eltham Colle9e Consolldated Statement of Financial Actfvltles For The Year Ended 31 August 2024 Unrestrlcted Fund$ Schoo15 Oth•r Rostrlcted Funds Endowgd Funds Total 2024 Totsl 2023 Note INCOME Income from charitable activiti¢s- School fees re￿1vable Less.. awards Other educational income other ancillary trading income 29,660,896 12,631,240) 263,067 1,428,868 29,660,896 27.484.939 (2.758,200) 12,660,139) 263.067 228,921 1.428.868 1,301,716 1126.9601 Income fr￿n other trading actSvSti0s: FSSM Ltd income 664,641 864.641 614,456 Income from g•noratod funds: Investment income Donation$ and appe81 receipts Rents and Lettings 363.496 5.639 140,899 37,281 12,286 11,577 288,070 1,000,000 413.008 1,305,995 140,899 171,300 424.382 155.014 Total 29,231.62S 714.208 172.687 1.000.654 31.119,174 27,720.589 EXPENDITURE Costs of raising funds: Fund-raising Financing costs FSSM Ltd costs 60.454 509,993 12,155 144.348 216,957 509.993 501,662 215.226 533.326 555,206 501.662 570.447 513,817 144.348 1,228.612 1.303.758 Charitable Activities: SGhools and grant making 27.463,683 130 17,006 27.480,819 25.495.228 Pension scheme deficit funding arrangement 23 1975} 1975} 1960} Total 28.033,155 S13,947 161.354 28,708,456 26.798,026 NET INCOMINGIIOUTGOING) RESOURCES 1,198,470 200,2e1 11,333 1,000.654 2.410,718 922.563 Transfers b@￿een funds 324,907 1319,158) (5,095) {654} Investment gainslllossesl 32,361 8.583 40,924 (8,094) 1.523.377 {86.536} 14,801 1,IK)O.OtKI 2.4S1.642 914.469 NET INCOMEI{DEFICIT) 1,436,841 14,801 1,1)00,000 2,461,642 914469 Fund Balances at 1 September 2023 21,252,112 521.871 32.559 21.806.542 20.892.073 Fund Balances at 31 August 2024 22.688.953 538,672 1,032.559 24.258,184 21,806.542 The notes on pages 29 to 46 fomi part of these financial statèm8nts. 25

Eltham College Balance Sheets As at 31 August 2024 Notes Group Schools 2024 2023 2024 2023 Flxed assets Intangible assets Tangible assets Investsnent assets 15,667 43,150,353 577,505 25,046 38,764,886 511,390 9,382 43,112,589 577,507 18,761 38,725,370 511,392 43,743,525 39,301,322 43,699,478 39,255,523 Current assets stocks Debtors Cash 2,592 1.992,566 17,725,658 2,592 1,227,885 5,613,702 10 1,977,980 17,697,758 1.183,740 5,580,267 19.720,816 6,844,179 19,675,738 6.764,007 Creditors: Amounts falling due within one year 11 112,918,587) 16,038,478) {12,896,422) 16,064,004) Not current a$$etsl(Ilabllltlesl 6,802.229 807,701 6,779,316 700,003 Total assets loss current assetsl(Ilabilitie5 50,545,754 40.109.023 50,478,794 39.955.526 Cr￿ltOrs. Amounts falling due after more than one year 12 126,287,146) (18.301,082} 126,287.146) {18,301,082) Provlslon8 for liabllltl8s 21 1424) (1,399) {424) (1,399) Net assets 24,258,184 21.806,542 24,191,224 21,653,045 Endowed fund• 1.032,559 32,559 1,032,559 22,ssg Restrlcted funds 15b 536,672 521,871 536,672 521.871 UnroStri¢tod funds Designat8d and gener81 fund5 15c 22,688,953 21.252,112 22.621,993 21,098,615 Total funds 15 24,258,184 21.806,542 24,191,224 21,653,045 Approved by Board of Governors on 26 March 2025 and signed on its behalf by.. P. DOYLE A NEDEN The notes on pages 29 to 46 form psrt of these financial statements.

Eltham College Consolidated Cash Flow statement For the Year Ended 31 August 2024 2024 2023 Not•s Ca8h flows from oporatlng a¢tlvltles 17 18,984.524 2,438,668 Cash flows from investing activities: Investment income re￿IVed Interest received Interest paid Sale of fixed assets Payment for tangible fixed assets Payment for investments 49,512 363,496 {509,993) 15.350 167.682 (533,326) 450 {2,954,0191 (5,998,987} 125,191) (6,121,163) {3,303,863) Nèt cash flow beforo financlng acllvllles 12,863,361 {865,1951 Cash flow from financing activitiès Repayment of borrowing 18 (751,405) 1712,564} Changè in cash and cash equivalents in the year 19 12,111,956 (1.577.759) Cash and cash equivalents brought foThvard 5,613.702 7,191.461 Cash and ¢a$h equlvalents at 31 Augu$1 2024 19 17,725,658 5.613,702 The not8s on pages 29 to 46 form part of th8se financial statements. 27

Eltham College Summary Income and Expendlture Account For the Year Ended 31 August 2024 2024 2023 Gross charitable incorne 31,119,174 27,720,589 Charitable expenditure 28,708,456 26.798.026 Net In¢ome for the year 2,410,718 922,563 Notes Gross charitablè income is net of bursaries, grants and allowances and consists of the Schools, incom8 of £29,231,625, restricled income of £172,687, other irncom? of £714,208 and Endowed income of £1,000,654. A detailed analysis of income by source is provided in the Statement of Financial Activities. Charitable expenditure consists of the Schools, direct chaniable expenditure and management and administration totalling £27.462,708 plus costs of generating funds of £570,447 plus restricted funds expenditure of £161,354 plus other expenditure of £513,947. A detailed analysis of the exp8nditure is provided in the Statement of Financial Activities and notes 4 and 5. Net income is before investment gains and inter-fund transfers and consists of the Net Incoming Resources of the Unrèstricled Funds Ischools and Other} of £1,398,731, Restricted Funds of £11,333 and Endowed income of£1,000,654. Th8 Summary Income and Expenditur8 Account is derived from the Statement of Finan¢ial Activities on page 25 which together with notes to the financial statements on pages 29 to 46 provides the fvll information on the movements during th8 year on all the ftjnds of the School. Gross charitsble income includes development income of £12,286 {unrestricted). £288,070 (restri¢ted} and £1,000,000 {endowed}. Gross charitable expenditure includes £12,155 of dire and apportioned unrestricted development expenditure (befor8 transfe￿) and £144.348 apportioned restrieted development expenditure (before transfers). In addition to this the ndraising and publicity costs in the Schools includes the developm6nt director's salary. The unrestricted developmgnt reseNe at the year-end stands at £nil after transfor$ & approprialions (2023.. £nil} and the ￿$trIcted £425,375 after transfers {2023'. £420,601). 28

Eltham College Notes to the Financial Statements Forthe Yoar Ended 31 August 2024 ACCOUNTING POLICIES The Charity is a registered Charitable Company limited by guarantee in the Unitsd ￿.ngdorn. The address of the registr￿d office is given in the reference and administrative detsils, on page 3. Basis of preparation The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. statement of Recommended Practice applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in England and Wales and the Republic of Ireland {FRS 102) (effective 1 January 20151,, Finanaal Reporting Standard 102 'The Financial Reporting Standard applicable in England and Wales and the Republic of IrelaTrJ' and the Companies Act 2006. The financial statements have been prepared on a going cOn￿M basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charitable company. Bagls of consolldatlon These financial statements consolidate the results of the Charity and its wholly owned subsidiary FSSM Limited on a line by line basi$ in accordance with FRS 102 Section 9 and the SORP IFRS102) section 24. Details of the subsidiaries are given in note 9 of the financial statements. A separate statèmont of financial activities for the charitable company has not been presented because th8 charitable company has taken advantagé of the exemption afforded by Section 408 of the Companies Act 2006. The charty prepares a consolidated cashflow statements and has therefore taken advantage of the exemption Conferred by FRS102 Section 1 not to prepare a cashflow statement for the Schools. The accounts include th8 results of the unincorporated charity 'Eltham College,. This unincorporated charity continues to hold certain endowed funds not transferred to the charitsble Company following its incorporation in 1996. Golng ¢on¢ern The Group has budgeted to achieve a profit in 2024124 and current pupil numbers are strong. Consèquéntly. the Govemors have a reasonable expectatr'on that the Group NMII have sufficient funds to continue to meet its liabilib.es as they fall due for the foreseeable future and therefore have piepared the financial statements on a going concern basis. b> Intangible assets Intangible assets are measured at cost less accumulated amortisation and any impairment losses. Amortisation 15 charged, when impaiThent has occurred. so as to allocate the cost of intangibles les8 their residual value over their estimated useful lives, using straight line method. The intangible assets are amortised over the following useful economic lives= Goodwill - 10 years (when impainment has occurred). Goodwill relates to the acquisition of FSSM Limited, the Charity's trading subsidiary in September 2019. Tanglbb Flx8d A$$•ts School Bulldlngs and Equlpment The original Schools, land and buildings are eArried at original cost as the Directors consider it is not appropriate to apply a modern valu8 to such property. The Group is responsible for keeping these properbes in fit and useful condition and these costs are written off as incurred. Items ¢osting less than £500 are written off when the expenditure is incurred. 29

Eltham College Notes to the Financial Statements For the Year Ended 31 August 2024 ACCOUNTING POLICIES- continuèd Tanglble Flxed Assets - continued Depre¢lation The treehold land and building work in prog￿$$ are not depreciated. Depreciation is provided on all other assets at rates calculated to spread each asset's cos( less its estimated residual value at current market prices, evenly over its expected useful economic life, which for each class of assets is initially assessed at averaging.. Leasehold Land Buildings Improvements and reftjrbishmentg Computer equipment other equipment Molor vehicles Over the period of the lease. to a maximum of 50 years 20- 50 years 3- 20 years 3 years 5-10 years 4 years d) Investments Investrnents are valued in the balance sheet at their market value at the balanc8 sheet dale. Inveslmenls in subsidiaries are accountsd for at cost less impairment in individual financial statements. Stock stock is valued at the lower of cost and net realisable value. Cash at bank and in hand Cash at bank and in hand are short-temi, highly liquid investsnents that are readily convertible to known amounts of cash that are subject to an insignificant risk of changes in valu8 g) Debtors and creditors recèivablelpayable wlthln one year Deblots and creditors with no stated interest rate and receivable or repayable within one year are recorded at transadion price. Any losses arising from Impai￿nent are recognised in expenditure. h) Fees and slmllar Income Fees receivabl8 and charges for services and use of premises are accounted for in the period in which the seNce is provided. Fees recèivable are ststed after deducting allowances, scholarships and other remissions granted by the School, but include contributions received trom restricted funds for scholarships, bursaries and other grants. Fees received for educats.on to be provided in future yeats are carried fomard as deferred income. FSSM income refers to the revenue èarned from the Company's principal activity, the provision of sports and leisure activitie5 ar)d services, and is recognised in the period in which the service is provided. Membership inci)me relating to fvture periods is carried forward as deferred income within creditors. The revenue shown in the statement of comprehensive income represents amounts invol￿d during the year. Exclusive of Value Added Tax. Donations Donations received for the general pujposes of the Schools are credited to voluntary income. Donations subject to specific wishes of the donors are carrted to relevant restricted funds or to endowed funds where the amount is reqUI￿d to be held as pem)anent capital. 30

Eltham College Notes to the Financial Statements For the Year Ended 31 August 2024 J) Expenditure Expenditure is allocated to functional headings either on a direct cost basis or apportioned accordingly. The irrecoverable element of VAT is induded with the item of expense to which it relates. Supplies of books. expenditure and sundry equipment are written off when the expenditure is incurred. Support costs are those that assist the work of the charity but do not directly represent charitable activities and indude office costs, govemance costs, and administrative payroll costs. They are incurred direcuy in support of expenditure on the Objects of the Charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resour￿. Governance costs include those incurred in the governan￿ of the charitable company and are Pfimarily associated with constitutional and statutory requirements. k) Operating leases Rentals payable under operating18ases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. Pension schemes The Group contributes to the Teachers, Pension Defined Benefits Scheme. This scheme is a multiryemployer pension scheme. It is not possible to identify the College's sharé of th& underlying assets and liabilities of the Teachers, Pension Scheme on a consistent and reasonable basis and therefore, as requirèd by FRS102, accounts for the scheme as if it were a defined contribution scheme. The College's contributions, which are in accordance with the recommendations of the Government A¢tuory, are chgrged in the period in which the salaries to which they relate are payable. The Group also contributes to p8rsonal ￿nSIOn schemes for non-teaching staff and teaching staff who have opted into this pension rather than the Teachers, Pension Scheme. Pension contributions are ¢harged to the Statement of Financial Actlvlties in the year in which they fall due. Fund a¢¢ountlng Unrestricted funds comprise those fijnds which the Gov8mors may use in the furtheran￿ of the objects of the Schools. Designatéd funds are unr8strict&d funds set aside by the Governors for specific future PUTposes or objècts. Restricted funds consist of funds that can only be used for particular restrictèd purposes within the obje¢ts of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Income and expenditure related to school projects and productons are classified as recharges rather than restricted fvnds. Pemianent endowrnent funds represent assets which must be held peThanently by the charity. Income arising on these fvnds may be used for general purposes. Hlre purchase Assets obtained under hire purchase contracts and finance leases are ¢apitalised as tangible assets and depreciated over the shorter of the lease term and their usefvl lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance elemenl of the rental payment is charyed to the profit and loss account on a straight-line basis. Judgements and Uncertainty Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. The charitable company makes estimates and assumptions Con￿rning Ihe future. The resulting accounting estimates and assumptions will. by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carryirwJ amounts of assets and liabilities within the nexi financial year are discussed below. Useful 8conomic liv85 oftangible assets The annual depreciation charge for tangiblè assets is sensitive to changes in the estimated usehJl economic lives and residual values of the assets. The useful e¢onomi¢ lives and residual values af8 rèassessed annually. They are amended when ne￿$sary to reflect current estimates, bas8d on technological 31

Eltham College Notss to the Financial Statements For the Year Ended 31 August 2024 advancement. fvture investments, econornic utilisation and the physical condition of the assets. See note 7 for the carrying amount of the property. plant and equipment. and note 1 'tangible fixed assets, for the usefijl economic lives for each class of assets. Defined benefit pension scheme The present value ofthe defined benefit pension deficit contribution5 payable depend5 on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the fijture recovery plan contributions due include the discount rate. Any changes in these assumptions, which are disclosed in note 21, will impact the carrying amount of the pension liability. Furthemiore, a roll forward approach which projects results from the lalesl full actuarial valuation has been used by the actuary in valuing the pension liability. Any differences be￿een the figures derived from the roll fO￿ard approach and a full actuarial valuation would impact on the ¢arrying amount of the pension liability. Bad dabt provision The value of trade debtors is sensitiv8 to the recoverability in full of School fees. Once a debt becomes overdue, it is chased and periodically reviewed to ensure it is r8cov8rabl8 in full. If a provision 1$ deemed necessary, this is included on an annual basis. SCHOOL FEES 2024 2023 Th• Schools fee Income comprisod: Gross fees Less.. Total bursaries, grants and allowances 29,660,69fj (2,758,200) 27.484,940 {2,660,1391 26.902,696 24,824,801 The above educational awards were made to 385 individuals {2023'. 3891. OTHER INCOME 2024 2023 Other educational charitable activi￿eS Exam Fees Entrance and registration fees 124,634 138,433 112,567 116.354 263.067 238,921 other an¢lllary activitie8 School meals School buses Other 878,098 550,763 798.662 503,042 12 1,428,868 1,301.716 32

Eltham College Notes to the Financlal Statements For the Year Ended 31 August 2024 EXPENDITURE 2024 2023 Govemance expendlture Includes: Auditors, remuneration.. For audit servicés For other services 38,550 2,590 54,848 2.800 Total 8tsff costs comprisèd: Wages and salaries Social security costs Pension contributions 15,194,861 1,612,797 2,338,782 13,936,210 1,481,663 2.186,212 19,146,440 17,604,085 In addition, there were staff costs of £419,53512023: £371.921} incurred by the trading subsidiary induded within FSSM Limited costs in the Ststsment of Financial Activities. The ave￿8 numbèr of employees in the year was.. Number Academic Administration Other 247 74 60 227 63 74 381 Nèithér the Govemors nor persons connected with them received any remunerab'on from the School during the year. The number of employees whose emoluments eX￿ded £60,000 were.. £60,001- £70,000 £70,001-£80.000 £80,001- £90,000 £90.001-£100.000 £100,001- £110,000 £110,001- £120.000 £120,001- £130,000 £150,001- £160,OIXI £250.001- £260,000 £280,001- £290,000 39 23 10 33 15 The above emoluments exclude employer pension contributions and employer National Insurance contribution costs. £40.000 included within the pay of the highest paid employee was in lieu of an employerfs pension contribution. Pension contributions totalling £1,042,712 (2023.. £737.710} were made to the pension schemes {Teachers Pensions and Royal London) in respect of these higher paid employees. 33

Eltham College Notes to the Financial Statements For the Year Ended 31 August 2024 ANALYSIS OF TOTAL RESOURCES EXPENDED Staff costs (note 4) Othèr Doprècialion Total 2023 Costs of ralslng funds: Fund4aising Finance costs Trading costs of subsidiary 225,493 (8.536) 509,993 501,662 216,957 509,993 501,662 215,226 533,326 555.206 225.493 1.003.119 1,228,612 1,303.758 Charitable activities: Teaching costs Welfare Premises Support costs 15,332,216 62,363 1,294,617 2,214,251 1.256.101 1,446,173 1.398.988 2.739,760 16,588,317 1,508,536 4,307,125 4,954,011 15,514,438 1,431.768 4,030,466 4,473,015 1.613,520 School's operating costs 18,903,447 6,841.022 1,613,520 27.357.989 25,449,687 Grants Awards and prizes Govemance costs 17,500 105,330 122,830 45,541 Total 18,920.947 6.946,352 1,613,520 27,480.819 25,495,228 Pension scheme deficit arrangement {9751 1975) {960) Total expenditure 19,146.440 7,948,496 1.613,520 28.708.456 26,798,026 TRANSFERS Within unrestricted fvnds, a total of £319,158 (2023: £103,410} was transferred to general reserve from designated unrestricted funds. Income totalling £654 (2023: £350) received on our endowed funds was transferred to general rese￿e. A total of£5,095 {2023: £28,673) was transferred to general resèrve from restricted funds (see note 15b} to cover expenditure incurred for the purpose of the funds. Transfers were within the terms of the original gffts where relevant.

Eltham College Notes to the Financlal Statements For the Year Ended 31 August 2024 INTANGIBLE ASSETS Group Cost At start of year A¢quisition 53,183 At end of year 53,183 Amortlsatlon At start of year Charge for the year 28,137 9,379 At end of year 37,516 Net book value 15,667 Schools Cost At start of year Acquisition 46.898 At end of year 46,898 Amortisation At start of year Charge for the year 28,137 9,379 At end of year 37.516 Net book value 9,382 Intsngible assets relate to web91te development costs amortised over S years and goodwill. Goodwill (Group ontyl relates to the acquisition of FSSM Limited. the Charity's trading subsidiary, in September 2019. The value of goodwill was deemed to remain static during thè year as the net assets of the subsidiary exceed the valuè of th8 goodwill and the subsidiary is fore¢ast to trade profitably. 35

Eltham College Notes to the Financial Statements For the Year Ended 31 August 2024 TANGIBLE FIXED ASSETS Froohold Land and Buildings Fumlture and Equlpmonl Leasehold Land Motor Vèhlchs Total GROUP Cost At 1 September 2023 Additions Disposals & write offs 50.485.282 5.763.126 825,000 6,116,595 235,861 31,506 57,458,383 5.998,987 At 31 August 2024 56,248,408 825,000 6,352,456 31.506 63,457.370 Depr¢¢iation At 1 September 2023 Charge for year Disposals & write offs 13.408.614 1,212,034 336.875 16.500 4,916,502 31,506 18.693.497 1,613.520 At 31 August 2024 14.620.648 353,375 5,301.488 31,506 20.307,017 Nèt book valuos At 31 August 2024 41,827,760 471.625 1,050.968 43,150,353 At 31 August 2023 37,076,668 488.125 1,200,093 38,764,886 SCHOOLS Cost At 1 September 2023 Additions Disposals 50.485.282 5.763.126 825,000 5,997.882 226.876 31,506 57,339,670 5,990.002 At 31 August 2024 56,248,408 825.000 6.224,758 31,506 63.329,672 Depr•eiation At 1 September 2023 Charge for year Disposals 13,408,614 1,212,034 336,875 16,500 4,837,305 374.249 31,506 18,614,300 1,602,783 At 31 August2024 14,620,648 353.375 5,211.554 31.506 20,217.083 Not book values At 31 Augusl 2024 41,627,760 471,625 1,013,204 43,112.589 At 31 August 2023 37,076,668 488,125 1,160,577 38,725,370 36

Eltham College Notes to the Fbnaneial Statements For the Year Ended 31 August 2024 INVESTMENTS Unrestricted De8ignatèd Rastrlctod Total Balan¢e at 1 S6Ptember 2023 {sharesl Additions Increase in market value 400,715 25,191 32,361 110,675 511.390 25,191 40.924 8,563 Balancé at 31 August 2024 {Group) Shares in subsidiary 458,267 119,238 577,505 Balance at 31 August 2024 (School) 458,269 119,238 677,507 Nel income from the subsldlary tradlng acllvltles FSSM Limited is a 100'/0 subsidiary company number 03113910 whosè règistsred office is Eltham College, Grove Parf( Road, Mottingham, London SE9 4QF. Thé company was acquired for £2 on 1 September 2019. During Ihe year it was the sole trading subsidiary with thè principal activities ofthe provision of sports and leisure activities and services. The résults for this subsidiary were as follows-. Profft and loss account 2024 Turnover Cost of salas 667,238 (21.955) Gross profit Administrative and other expenses 645,283 (482,3031 Net profit Ib8fore Gift Aid) 162,980 Net asséts as at 31 August 2024 60,677 FSSM Limited was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies. The Charrfy has guaranteed all outstanding liabilities to which the subsidiary company was subject at 31 August 2024 until they are satisfied in full,. and this guarantee is enfor￿able againstthe parent undertaking by any person to whom the subsidiary is liable in respe￿ of those liabilitses. 10. DEBTORS Group S¢hools 2024 2023 2024 2023 Due withln one year: School fees Trade debtors Sundry debtors Prepayments Accrued income 110.791 6,625 267.378 1,454,293 153,479 29.858 30,236 336,954 707,645 123.192 110,791 29.858 267,376 1,450,492 149.321 336.952 704,008 112,922 1.992.566 1,227,885 1,977,980 1,183,740 37

Eltham College Notes to the Flnanclal Statements For the Year Ended 31 August 2024 11. CREDITORS: Amounts falling due within one year Group Schools 2024 2023 2024 2023 Bank loans and overdraft (not8 131 Fees received in advance Advance fee payments under contract (note 141 Other creditors Inter-company creditor Social security & other taxes A¢¢ruals Fee deposits 747,876 2.878.007 739,771 1,564,992 747,876 2,878,007 739,771 1,564,992 6,257,647 1.055.749 1,043,697 1.281.881 6,257.647 1,051,744 11,915 408,661 847,822 692,750 1,043.697 1,277,155 50,719 383.740 683.130 320.800 430,126 856,432 692,750 393,178 692,159 320,800 12,918,587 6,036,478 12,896,422 6.064,004 12. CREDITORS: Amounts falling due after more than one year 2024 2023 Group and Schoo18 Bank loans {not8 13) Féé deposits Advance fee payments under contract {note 14) 13,1)64,748 2.280,238 10,942,160 13.824.259 2,143,638 2,333,185 26,287,146 18,301.082 13. FINANCIAL INSTRUMENTS 2024 2023 Group and Schools The bank loans and overdraft are repayable by inslalmonts.. Between one and two yoars Bank loan 764,191 767,232 Betwèon two and flvo years Bank loan 2,482,962 1,866,573 Duo after more than riva years Bank loan 9,817,595 11,190,454 13.064,748 13.824,259 Due within ono year Bank loan & overdraft 747,876 739.771 Total borrowings 13,812.624 14,564,030 Financial inslruments. measured at amortised cost, comprise the loan financing provided by Lloyds Bank plc. Thrèè loan agreements have been entered irsto with Lloyd$ Bank plc. Loan 1, for £2.6m, was drawn down in fijll on 5 June 2017. This loan is repayable over ￿nty years and interest is payable at a fixed rate of 3.495°/o. The balance outstanding as at 31 August 2024 was £1,868,448 {2023.' £1,982,094). Loan 2, for £12.138m. b8came fully drawn down on 24 August 2020. £6m was ffixed at a rate of 3.640/0 from S September 2018 and re-fixed at a rate of4.556¥o for ten years from 29 August 2024. Repayments ¢ommenced February 2019, with the final repayment Febwary 2039. £6.138m was fixed at a rate of 2.674 % from 28 August 2020 and re-fixed at a rate of 3.436Q/o for ten years from 29 August 2024. Repayments commenced September 2020, with the final repayment January 2039. On the expiry of the fixed rate toms the interest will be variable at 2.05 /• over base rate. The balance outstanding at 31 August 2024 was £ 9,772,97912023: £10,314.798}.

Eltham College Notss to the Financlal Statements For the Year Ended 31 August 2024 Loan 3 is for £2,707m and was fixed in August 2023 at a rale of 5.11 yo, Wlth the final repayment January 2039. The balance outstanding a s at 31 August 2024 was £2,261,777 (2023.. £2,364,398). The borrowings aré secured by way of a fixed tharge and debenture over thé Schools, land and buildings. 14. ADVANCE FEE PRE-PAYMENTS UNDER CONTRACT Parents may enter into a contract to pr8-pay to thè School up to the equivalent of eleven years, tuition in advance, subject to current tems and conditions. Assuming pupils will remain in the School, advance fees will be applied as follows.. 2024 2023 Group and Schools After 5 years wrthin 2 to 5 years Imthin 1 to 2 years 2,002,223 5,347,893 3,592,044 410,700 1.228,506 693,979 10,942,160 6,257,647 2.333.185 1.043.697 Within 1 year 17,199,807 3,376,882 The balance represents the accrued liabilty under the contract The movéments during the year were: Balance at1 September 2023 New contraGts 3,376,882 14,866,622 3,610,674 866,663 18,243,504 4,477,337 Amounts utilised in payment of fees (1,043,697) 11,100,455) Balance at 31 August 2024 17,199,807 3,376,882 39

Eltham College Notes to the Financlal Statements For the Year Ended 31 August 2024 15. ALLOCATION OF THE CHARITY NET ASSETS The net assets are held for th8 various funds as follows.. Tanglble Flxed Assots Invoslments & Goodwlll Net Curront Assets Long Term Llabllltles Group Totsl Endowed ftjnds Restricted fijnds Unrestricted fvnds 1,032.559 417,434 5,352,236 1.032.559 536,672 22.688.953 119.238 473,934 43,150,353 {26,287,570) 43,150,353 593.172 6.802,229 (26,287,570) 24,258.184 School$ Endowed funds Restricted funds Unrestricted funds 1,032,559 417,434 5,329,323 1,032,559 536,672 22,621.993 119,238 467.651 43,112,589 (26,287,570) 43.112,589 586,889 6,779,316 (26.287.570) 24.191,224 15a. ENDOWED FUNDS Balanc• 1 Septsmber 2023 Balance 31 August 2024 Incoming Resource8 Rosour¢oS Expended Transf•rs Other Endowed Funds 23,2Q8 1,000.466 14661 1.023,208 Prize Trust Fund 7,203 145 1145) 7,203 ECPA (Neville Wood) Leaving Trust 2.148 43 143) 2,148 32,559 1.000.654 {654} 1.032,559 The above endowed funds represent amounts invested in the original Ellham College Charity {ChaTity number 1058438 -11 and included wthin the Schools. accounts. other Endowed Funds Ipreviously called scholarships and bursaries} include the capital element of the Places & Spaces Bursary Endowment Fund. Morton Paton Memorial, Edwin Unwin bursary, Eltham College Endowment Fund, WAT Green Memorial Fund. JE Salmon Fund, GP Janes Fund and the Anthony Callard M8morial Trust Fund. The Prize Trust Fund is a general fund to support the books awarded on Speech Day. The ECPA (Newlle Woodl Leaving T￿￿t provides leaving awards to the sons of missionariès. A £1,000,000 donation from a foTher OE was received in the year and placed in endowed fvnds, for the purpose of supporbng bursary provision. 40

Eltham College Notes to the Financial Statements For the Year Endéd 31 August 2024 15b. RESTRICTED FUNDS Balance 1 Septembor 2023 Incoming Resourcos Resources Expended Transfors Balance Investment 31 August Gains (losses) 2024 Prizes and Alumni Support Fund 101.270 11.577 (22,553) 21,003 111,297 Development Fund 420,601 288,070 {265.7611 {17.535) 425.375 521,871 299,647 <288.314 3.468 536.672 Prizes and Alumni Support Fund consists of various small fvjnds donated to provide prizes for particular achievements and funding for alumni lespecialw for the sons of missionaries). The Devèlopm&nt Fund consists of a number of separate funds, which are as follows.. 1. Culture & Arts £32,283.. this fund is to bé used for the promotion of cultural and arts within the School. Bell Family JS legacy.. £8,190.. this fund is for use in the Junior School 3. Sport & Outdoor £338, this fund is to be used for the promotion of sports and ouldoor activities within the School 4. Annual Fund £S,OOO', this fund was to be spent on the refvrbishment of the School War Memorial. 5. Places & Spaces Bursaries £204,038= this hjnd is to provide 100010-110010 bursari8s PLa￿S & Spaces Science £175.547.' this fund is to bé us6d for the refurbishment of scien￿ laboratories as part of the wider regeneration and growth ofthe Eltham College Science Centre 15c. UNRESTRIGTED FUNDS Balance 1 September 2023 Incoming Resources Rèsources Expendgd Transfors Invgstment Gains (losses) Balance 31 August 2024 Designated: Scholarship and bursary fund Development & appeal fund 37.281 12,286 {37,281) (12,2861 Not designated: General reserve 21,098,615 29.231.625 {28,033.154) 324,907 22.621.993 21,098.615 153,497 29,281,192 664.641 {28.045,440) 1501,6621 287,626 {249,516) 22,621.993 66,960 Trading Subsidiary 21.262.112 29,946,833 128,547,102) 38,110 22,688,963 The General reserve represents tha 'fr88 r8sèNés° of thé School. Transfers aré détailed in notè 6. 16. CONTRACTS, COMMITMENTS AND CONTINGENCIES Capltal ¢ommllments As at 31 August 2024, the capitsl commitments of Eltham College were £1,324,743 (2023.. £4,559,570}. This principally relates to th6 completion of redevelopment and expansion of the Science and Technology Centre. Contlng•nt Ilablllty There are no contingent liabilities. 41

Eltham Colleg8 Notes to the Financial Statements For the Year Ended 31 August 2024 17. RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATIONS 2024 2023 Net Incomlng Resour￿$ 2,410,718 922,563 Depreciation charge Amortisation of intangibles Profft on sale of fixed asset Fixed assets written off Investment income received Interest ￿ceiVed Interest paid {Increase) in stock {Increase) in debtors Increase in creditors {Decrease) in provision 1,613,520 9,379 1,614,194 9,379 {450) 11.731 (15.350) (167,682) 533.326 (49,512) 1363.496) 509,993 (764,681) 15,619,578 {975) {357,974) (110,109) (960) 16,573,806 1,516,105 Net cash inflow from operatlon8 18,984,524 2,438,668 18. ANALYSIS OF CHANGES IN FINANCING 2024 2023 Loans: Balance 1 September 2023 New loans advanced Loan repayments 14,564,029 15.276.593 {751,405) (712,564) Balance at 31 August 2024 13,812,624 14,564,029 19. ANALYSIS OF CASH AND CASH EQUIVALENTS Balance 1 Septèmber 2023 Cash flows other changes Balance 31 August 2024 Cash at bank and in hand Bank overdraft 5.613.702 12,111,956 17.725.658 6,613.702 12,111,956 17,725.658 42

Eltham College Notss to the Financial Statements For the Year Ended 31 August 2024 20. RELATED PARTh TRANSACTIONS Five Trustees paid school fees for children who were pupils at the School. Tolal fees payable in respect of these seven pupils, before scholarships and bursaries. were £143.022 {2023'. £112.575 six pupils). A scholarship wa$ awarded to the son of on8 of these Trustees, which reducEd the fves payabke by £9.035 (2023- £8,412) No Trustee paid réducéd school fees as a result of their office. Fees for the other children of Trust88s were chargéd in full. Amounts due from Trusteès in rèspéct of nét fé8s payable were settled in full by the year end. Key management personnel were paid staff costs of £977.925 during the year12023. £1,310,329, including additional staff previously designated as key management personnel}. For 2024 key management personnel comprises the Headmaster, Butsar, Senior Deputy Head (Senior School), Head of Junior School and Head of Blackheath Prep. The corresponding stsff costs figure for these posts in 2023 was £886.829. 21. PROVISIONS FOR LIABILITIES 2024 2023 Net present value of pension deficit conlributs'ons payable {note 23) 424 1,399 43

Eltham College Notes to the Flnancial Statements For the Year Ended 31 August 2024 PENSION COSTS Teachers Pension Scheme The Schools participate in the Teachers. Pension Scheme {'the TPS'I for its teaching stsff. The pension charge forthe year includes contributions payable to the TPS of £1799,958 {2023= £1,749,012). At the end of the yearthere were outslanding employer and employee contributions payable of£220.66812023 £199.689). The TPS is an Un￿nded multimployer defined benefits pension scheme govem8I by The Teachers, Pensions Regulations 2010 (as amended) and The Teachers, Pension Scheme R￿JulatIonS 2014 (as amended}. Members contribute on a °pay as you go. basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary's Department. The most re￿nt actuarial valualion of Ihe TPS was prepared as at 31 March 2016 and the Valuation Report, which was published in March 2019, cOnfi￿ned that the employer contrtbution rate for the TPS would increase from 16.4°h to 24.6% from 1 September 2019. Employers are also required to pay a sch8m8 administration levy ofO.08YD giving a total employ8r contribution rate of 24.680/0. The 31 March 2016 Valuation Report was prepared in accordance with the benefits set out in the scheme regulations and under the approach specified in the Directions, as they applied at 5 March 2019. However. the aSs￿nptions were considered and set by the Department for Education pricr to Ihe ruling in the 'M¢CloL￿/Sarge8nt case,. This case has required the courts to consider cases regarding the impl?m8ntation of the 2015 reforms to Public Service Pensions including the Teachers, Pensions. On 27 June 2019 the Supreme Court denied the govemment peThission to appeal the Court of Appeal's judgmentthattransitional prowsions introduced to the refoThed ￿nSIOn schemes in 2015 gave rise to unlawful age discrimination. The govemment is respécting th8 Court's decision and has said it will engage fulty with the Employment Tribunal as well as employer and member representatives to agree how the discriminations will be remèdièd. The govemment announced on 4 Fébruary 2024 that il intends to pro￿ed with a deferred choice underpin under which members will be able to choose eithér légacy or refomied scheme benefits in respect of their seNce during the p6riod between 1 April 2015 and 31 March 2024 at the point they become payable. The TPS is subject to a cost cap mechanism which was put in pla￿ to protect taxpayets against unforeseen changes in scheme costs. The Chief Secretary to the T￿asUry, having in 2018 announced thal there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal's rulin9 in the Mccloudlsargeant case and until there is certainty about the value of pensions to employees from ApFiI 2015 onwards. The pause was lifted in July 2023, and a consultation was launched on 24 June on proposgj changes to the cost control mechanism following a review by the Govemment Actuary. Following a public consultation, the Govemment have accepted three key proposals recommended by the Govemment Actuary and are aiming to implement these changes. In view of the above rulings and decisions the assumpb-ons used in the 31 March 2016 Actuarial Valuation may become inappropriate. In this scenario, a valuation prepared in accordance wilh revised benefits and suitably revised assumptions would yield different resutts than those contained in the Actuarial Valuakn"on. Until ihe cost cap mechanism revision is completed it is not possible to condude on any finanaal impact or future changes to the contribub.on rates of the TPS. Accordingly. no provision for any additional past benefit pension costs is induded in these financial ststements. Under the definitions set out in Financial Reporting Standard 102 IFRS 102). the TPS 2nd the Pension5 Trust Scheme (below) are both mulb'mployer pension schemes. The Group is unable to identsfy its share of the underlying assets and liabilities of these schemes. Accordingly. the Group has taken advantsge of th8 exemplion in FRS 102 and has accounted for ts Gontributions to the schemes as if they were defined contribution schemes. Followng a decision by Trustees in NOVem￿r 2024, the Group has initiated a phased withdrawal from the Teachers, Pension Scheme effective from February 2024, meaning that new m8mbers of teaching staff joining the Schools after this date wrll not be eligible to join the scheme and will instead be autonrolled in the School$. alternative Defined Contribution pension scheme.

Eltham College Notes to the Flnancial Statements For the Year Ended 31 August 2024 22. PENSION COSTS - contlnued Pensions Trust's Growth Plan The Schools a150 participate in Ihe Pensions Trust's Growth Plan (PTGP) for forner members of the non- academic staff, a multi*mployer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore rt accounts for the scheme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 De¢ember 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial standards issued by the Financial Reporting Council. set out the framework for funding defined benefit occupational pension schemes in the UK. The sctteme is classified as a 'last-man standing arrangement. Therefore the company is potentially liable for other partiapating employers, obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the stheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To éliminate this funding shortfall, the Trustee has asked the participating employers to pay additional ￿ntrIbutIOnS to the scheme as follows.. Deflclt contrlbutlons From 1 April 2023 to 31 January 2025= £3,312,000 per annum (payabl8 monthly). Unless a concession has been agreed with the Trustee the tenn to 31 January 2025 applies. Note that the sch8m8's previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to thè scheme as follows.. From 1 April 2019 to 31 January 2025.. £11,243,000 perannum {payable monthly and increasing by 3010 each on 1 April). The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilrties. Ihjhere the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit redudion contributions payable under the agreement that relates to the deficit The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. PRESENT VALUES OF PROVISION 2024 2023 Value of closing provision 424 1,399 RECONCILIATION OF OPENING AND CLOSING PROVISIONS 2024 2023 Provision at start of period Unwinding of the discount factor (interest expense) Deficit contribution paid Remeasurements - impact of any change in assumptions Remeasurements - amendments to the Contribution s¢hedule 1,399 51 {1,027) 2.359 81 (1,027) {14) Provision at end of period 424 1,399 45

Eltham College Notes to the Financial Statements For the Year Ended 31 August 2024 22. PENSION COSTS - ¢onllnued INCOME AND EXPENDrruRE IMPACT 2024 2023 Interest expense Remeasuremenls- impa¢t of any change in assumptions 51 81 (14) ASSUMPTIONS 2024 °A por annum 2023 °/0 por annum Rate of discount 5.13 The discount rates shown above are the equivalent single discount rates which. when used to discount the future recovery plan contributions due, would give the same ￿SuIts as using a full AA corporate bond yield curve to discount the same recovery plan contributions. The Charity recognisés a liability measured as the present value of the contributions payable that arise from the deficil recovery agreement and the rèsulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arisés. It is these contributions that have been used to derive the balance sheet liability. The Charity abo makes contributs'ons to other personal pension schemes and auto*nrolment pension schemes for non-téaching staff and teathing staff who have opted to join the schemes rather than remain active mèmbers of the Teacher's Pension Scheme. The pension cost for the year relating to these schemes was £515,830 {2023= £415.9351. At the end of the year there were outstanding émployer and employee contributions payable of £61,002 (2023.. £45,744). 23. FINANCIAL COMMITMENTS The total of ftrture minimum lease payments under nonwcancellable operating leases as at 31 August 2024 were as set out below.. Office equipment and vehi¢le$ 2024 2023 0￿rating leases which expire: Under one year Betsveen two and five years Over fv8 years 162,795 310,065 734 125,481 244,174 473.594 371,221 24. TRUSTEES, REMUNERATION AND BENEFITS There were no Trustees, remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. 25. POST BALANCE SHEEET EVENTS On 23 Sèptember 2024 the school drew down a further £3.500.000 10-year loan. On 29 October 2024 this was fixed at a rate of 6.56Q/ty.