2020-08-31-accounts

CHARITY NO.. COMPANY REGISTRATION NO.. 1071298 3625063 ABINGDON ABINGDON SCHOOL Report and Accounts for the year ended 31 AUGusf 2020

A8INGDON SCHOOL IKfRooucfi(X4 TO THE REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGusf 2020 Contents Introduction Structure. Govemance and manage￿nt Obje¢t, aims. objectives and actNlties Capital developments and reserves Investment powers an(J policy Public Benefit Equality Art ststement of Dirertorg Responsi1Ml￿e$ Independent Auditorf5 Report 12 16 Consolidated Statement of Financial Activities Ilncorporatin8 income and expenditure account) School and Consolidated Balance Sheets 19 Consolldated St*ement of Cash flows 21 Notes to the aCc￿jnts 22-37

A81NGDON SCHOOL INTRooucnoN TO THE REPORT AND ACCOUNTS FOR ThE YEAR ENDED 31AUGUST2020 Introductlon fjovemor$. Dkertors, Offl¢ers and Ad The Board of Governors of Abingdon School is appotnted in accordance vrith the tems and conditions laid down in the Schools Memorandurn and Arbcles of Assodatlon incorporated on 2 September 1998 as amended in March 2LX)S and January 2017. The Govemors who served in the year were as fdlows: Ichael Stevens Damian Tracey Penny Chapman Mark Lascelles Robbie Barr Jonathan Carroll Glynne Butt Steven Sen5e¢all Harriet Woollard Kate Wheeler Mlchael Fan¥ell Chairman I￿ Chainnan Christ s H05pltolofAbingdon Tom Ayling The MeKery' Compory RobertJardine-Brown Matthew Tate The OldAbirtqdonknn Ken Welby Dlrerto All Abingdon Schod Governors were registered with Companies House as Dirertors of the Company. Michael Windsor Craig Williams Justin Ho(*e5 Headmaster, Abingdon Scho( Headrnaster. Abingdon P￿paratory School Dlrertw of Finano & Operatlons. Comp￿¥ Secretary and Clerk to the Governors Page I

ABIP4GDON SCHOOL INTRODUCTION TO THE REPORT ANO ACCOUNTS FOR THE YEAR ENDED 31 AUGU5f 2020 Adv15ers Bankers National Westminster Bank PIC 11 Market Place, Abingdon. Oxfordshire OX14 3HH Solicitors Harrison aark Rickerbys Ellenborough House. Wellington Stree( Cheltenham. GLSO IYD Auditors RSM UK Audit LLP 25 Faftin8don Street, London EC4A 4AB Investment Advisers Rathbone5 Finsbury Circu5. London EC2M 7 A2 Insurance Brokers Marsh Insurance Brokeis Ltd Capital House, I-S Perrymount Road. Haywards Heath, West Sussex RH16 35Y Addresse5 Abingdon School Park Road, Abingdon. OxFordshire OX14 IDE IRegistered office and rnailin8 address) Abingdon Preparatory Sch¢)ol Josca's House. Frilford, Abingdon. OxFordshire OX13 5NX Reference & Admlnlslratbve Information The senior school (Abingdonl and the junior school IAbingdon Preparatory School) are hereafter rèferred to as 'Abingdon School. or the 'Sthool' and are re8lStered with both Companies House and the Charity Commission a5 Abingdon School. In this report where specific ￿fereNce to etther 5th001 is necessary the senior s¢hool is referred to as'Abingdon' and thejunior school as'Abin8don Preparatorf- Abrngdon is thown to have exlsted in 1256. It wa5 re-endowed In 1563 by John Roy>5e, a London Mercer. It moved to ils present site in 1870. In September 1998 Abingdon combined with Abingdon Preparatory School lat that time known as Josca'sl. fom)ing a new Registered Charity (No. 10712981 and a cornpany limited by guarantee INO. 36250631. which was incorporated on 2 September 1998. The Company, Abingdon School. is governed by its Memorandum and Articles of Association. The School has chosen in accordance with Companies Art 21))6, s. 414qlll to set out in the group's strategi¢ report information required by Lar8e an(1 Medium-sized Companies and Grwps {Acco￿￿t5 and Reports) Re8ulations 2008, Sch. 7 to be contained in the dirertors. report. It has done so in respert of public benefit and energy and carbon reporting. Strurture, Governance and m￿agerne Oryanlsotlonolstrl￿Ure ¢7nd dedslofvmoklno The School Governors. as the Directors ol the Charity. are legal￿ responsible forthe overall manaBement of the school and for its strategic direction. Governor5 benefit from presentations by staff and by third-party experts, and from fa¢e-to-face meetings with staff. pupils and parents in order to deepen their knowledge of the school and of issues of current importance. The Govemors were assisted in undertaking thelr responsibilitles durlng the year by four Governors. sub<ommittees, namely the Educab"on Committee, Finance Committee. the Audit Risk & Compliance Committee. and the Rernuneration & Nominations Committèè. In particular, the Remuneration & Nominations Committee review5 the remunerntion of the Senior Leadership Team with referen￿ to benchmarks and sertor trends. The Headmastef is responsible to the Chaim)an and to the Governors ￿the management of the School, which the Headmaster achieves With the support of the Director of Finance and Operations. the Second Master, the Headmaster of Abingdon Preparatory Schod and members of the Senior Leadership Team5 at Abbn8don School and Abingdon Preparatory School. Page 2

ABINGDON SCHOOL INTRODUCTION TO THE REPORT AND Accou￿ FOR THE YEAR ENDED 31 AUGUST 2020 The Govemors and Senior Leadership Teams recognise the importance of engagement with employees and stakeholders to the ongoing Su￿55 of the School. En8agement with employees happens in many forms includin8 weekly staff meetings. regular meetin85 of the Staff Consultation Commrttee. and regular suNeys of staff. Engagement with other stakeholder5 abo takes many forms induding parents evenings and webinar& parents associations. an active alumni ¢lub and a student council. The Governors are aware of the Charity Govemance Code and believe that Abingdon School applies in all material respects. all seven of the principles and recommended practice for good govemance contained in the Code. In addition, the School is registered with the Fundraisin8 Re8ulator. Recrultment ond Tmlnlng oAGobrrnors The appointment of Govefnors is confirmed at meetin85 of the Full Governin8 Board on the basis of norninations received to the Board'5 speofiotions concemin8 eligibility. personal competence, specialist 5kn11s and availability. New Governors are inducted into the workings of Abingdon and of the CharTty, including its strategv, policies and pro¢edures, at induction Meetin￿ organised by the aerk to the Governors. On-golng G￿eMor trainin8 is carried out through seminars organised nationalty or arranged intemally. If Gtsvernor3 in¢AJr tralning costs. Abingdon offers to reimburse these. Group Strurture ond Relotioftshlps Abingdon School has a wholly owned non-charitable subsdiary, Abingdon school Enterprise5 Limited. Objert. alms, obje¢1￿$ and a¢d¥lths Chorttoble objert The Chariws objects, 35 set out in its Artides of Association a￿= to advance. for the public benefiL the education of thildren and young people not oldèr than the a8e of nineteen years at Abingdon khool or su¢h other sthool as the Governors may from time to time determine, and to promote for the benefit of the pupils of Abin8don School and thè inhabltants of the surroundi area the provision of faaliti.es for reueation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infimiity or disablement, financial hardship or social and economi¢ cir¢um5tan￿s or for the public at large in the interests of social welfare and wlth the obje¢t of improving the condition of the life of said inhabitants. Alms ondkntendedlmport-AblngdorfsAlms ond Ethos stotement. OU8h proud of its conyderable syttesses. Abingdon enjoys a down-to4arth atmosphere that Stems from being a school that knows itself well. does not seek to be what it is not and es¢hews the flashy, the false and the arrogant. There is a constant eye on innovation to reflert the needs of a rapidly<hanging world but the school is also careful not to dispense with the traditional where tried and tested pracbce proves still to be the most effective. While Abingdon is certainly academically selertive and vigorouly pmmotes the life of the mind, academic achievement is far from bein8 the sole (riterion either for entry or for 5ucce55 whilst at the school. The choice of title for our formidable extra-curricular programme- the Other Half - swnbolises the importance to the school of nurturing well-rounded l)oys and our belief that the de¥elopment of their skills and characters is of equal importance with their a¢ademi¢ progress and achlevements. We offer exceptional facilities but recognise that the success of Abingdon School rests upon the qualtty of ￿r staff, so we recruit and develop highly qualified colleagues of dNerse tslents and stron8 commitment. We value our powerful links with the wider community and nourish them through active and effective partnerships,. this includes our comrnitment to keeping access to an Abingdon education as wide as possible. Underpinning all that the school doe5 is a remarkably strong pastoral system. The house and tutN structure anchors day boys and boarders alike with a powerful sense of belongin8 and ensures they are known individual and feel genuinely and personally supported by a range of people in theirjourney toward5 adulthood." Page 3

ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGusf 2020 STRATEGIC REPORT FIna￿l￿1 Reylew The total income fortheyeartomprised £26,604k12019.. £28.225kl fromschool fee5and arKillary income. f452k 12019.. £123kl from tharitable donations and £830k12019.. £1,233kl from other activities. Thedecrease in School fees was as a result of discounts gNen on fee5 to all families in the summer term as a result of the COVID pandemic partlyoffset by a 3.5% increase in average tuition day and b03rdin8 fee5 and increased pupll numbers. Expenditure on school operatingcosts was E25.284k12019'. £26,086kl ofwhith 62% is represented by staff ¢osts. The total funds as at 3118120 amounted to £60,196k 13V8119.. £58.596kl. of which £47,094k1£45,202kl is unrestrirted funds. As an educational charity. the Sthod ha5 tsx exemption5 on its educational activttles and its investment income and is entitled to an 80% redurtion on business rates on the properties occupied for charitable purpose5. The financial benefits derived from thèse tax e¥emptions are all applied for educational purposes, includin8 the provision of bursaries. Abin8don School Is not able to reclaim VAT input tax on its costs as it is exempt forVAT purposes. The Governors consider both the level of actNity and the year-end financial position of Abin8don School to be satisfactory. Rlsk Manoqement The Board of Governors is responsible for putting in pla￿ a strategy to manage the risks faced by the School, which they review annually. The Governor￿ Audit Risk & Compliance Committee provides increased focus on this important area and revlews the risk re8lSter termly. Governors ￿erSee the Headmaster and the Senior Leadership Team who have eyecutive responsibility for identifyin& a55e55in8 and controlling risk. The key business risk5 for Abingdon include retaining pupil number5, child protection, ICT, and welfare and academic standards as well as external factors such as Covid-19 and thanges to the ptslitical environment and the Teachers. Pension Scheme. Controls and safeguards which are put in place to manage the major risks include appropriate levels of Insuran￿ cover,. terms of referen￿ forall the Governors. 5ub-committees,' strategic plannin& budgeting and managernent accountirn& fomial written policies; dear authorisation and approval leve15.' 5tritt adherence to safer recruitment procedvres in order to protect school pupi15,' complet￿￿ of appropriate risk assessments on relevant aspects of the school's artivitie5; and disaster planning. The School's Health and Safety committee supports the Suitable managements of health and safety risks and seeks to ensure that appropriate risk assessments are in place. The Governor5 are of the opinion that they have put in place a strate8V to identify and, where practicable, mitigate the major risks. It is recognised that while this pr¢Kess provides reasonable assurance that identified risks are being mitlgated. rt cannot provide absolute assurance. Response to Cov•d-19 When 5choo15 were told to physically close by the government in March 2020, the School rapidly moved its teaching and extra-curriojlar activities online as rnuch as possible. 8oarder5 returned home and the school's physical fadlities were quickly shutdown. The move orbline was done using Èxisting tèchnology platforms such s Firefly but also newer services suth as Z¢x*m video conferencing. Extenstve trainin8 of staff and pupils was done to help them make the move to online leamin8 as effectNe and as safe 3$ possible. Regular surveys of Staff, pupils and pa￿nts were condurted and feedback incorporated as necessary. In addition, an emphasls was placed on the pastoral rore of students through regular online meetings between students and their tutors and housemasters. With the national cancellation of public examinations, a great deal of work was also donè by the academic team to submit carefully considered Centre A$5essed Grades. &Jpport for children of kev wort(ers was provided throughout the Easter holidays and surnmer term. In parallel. extensive planning was undertaken to prepare the 5th0015 for reopening in line with governmènt guidance when allowed. At AbinBdon Preparatory Sth00l, a partial reopenin8 was allowed for certain year groups dudng the Summer Term whilst a full reopening for both schrAls was only pos%ble in September 2020. Page 4

ABINGDON SCHOOL REpoKf OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2020 Finandally. during the period of dosure, the School's costs were minirn4sed a% much as possible and capital projects suspended where prarticable. The School accessed the 8overnmènYs furlough scheme where reasonable to do $0 but was very con5QOUS to be Tesponsible. Fee discounts for the summer term, of varying amounts depènding on year group and day/boardin8 Status. were offered to all families in recognition of the reduced cost base of the School and the change in offering. whe￿ parents needed additional discounts or tlme to pay these were considered on a castrby<ase. means-tested basts. An annountèment was made in the Easter holidays that fees for Michaelmas term 2020 would be the same a5 the pre-di5count fee5 for the academic year 2019120. In the Summer holidays rt was announced that fees for the Lent and Summer terms 2021 would rise but at reduced levels compared to retrnt years. Coronavirus COVID 19 is currendy considered a reputstional risk to the School gNen the potents.al Impart on the school's reputation if the School does not put in place sufficient measures to ensure the safety of the school community and thecontinuity of quality education forall pupils in different scenarios including learning in school and online. The School managesthis riskthrou8h comprehensive risk assessments and relatèd actions.. providing additional resources; extra meetings wth 8overnofS.' investing in training,. and extensive communications wSth all members of the school tommunity. The overall aim bein8 to ensure the safety of the school v)mmunity and the continuity of quality education In all foreseeable artumstsnces. lrn addition to the reputational risk arising from a problem wth COVID 19 there L5 a financial risk, e.8. the Impact on pupil numbers and therefore the school'5 finances if parents. and potential parents. finan￿S are adversely affetted by COVID 19. The School manages this risk by prudent finèrtcial lorecastin8 and providing additional financial support for families who need it a5 a result of COVID 19. AChIe￿n*￿ts andPerfornwnce Abingdon is a boarding and day s¢hool whith provides education to boys between the ages of 11 and 19. Abingdon Preparatory provides education for pupils between 4 and 13 years of age. The average number of pupils in the schools durin8 the academic year 201912020 was 104412019.. 10161 for Abingdon and 25312019.. 2621 for Abingdon Preporatory. Demand for places is h4gh allowing for tomprehen5ive planning for future irnprovements and developments. Acodemic Results Public exams in Summer 2020 were rancelled by the government ovAn8 to the Coronavirus epidemlc. In place of public exams, exam centres were asked to provide Centre Assessed Grades ICAGS) to the exam boards for each of their candidates. These CAGS were required to SU88e5t the 'mosi likely grade" candidates would have 80ne on to achieve had the public exams happened but they were also expected as a whole to reffle¢t eath centre's 'typical' grade profile in ea¢h subject across recent years. cent￿ were told thèt QIG submissions that devlateil from this statistical model would result in a moderation of their CAGS in order lo make them fit the model. As a result of public outcry around the time of the release of results in Au8USt. the 8overnment removed the moderation element ofthe process, meaning that centres. CAGS were allowèd to stand. Given most schools naturally wished to take an optimistic wew of their candidate5 most likely. 8rades, the ￿sUIt of the government's last minute decision was significant 8rade inflation at both G￿E and A Levels at a national level. Schools that were partlculady optimistic enjoyed better than average years. Abingdon's approach to the formation of CAG5 was more at the'cautiously realistic, end of the spectrum and so our 2020 results do not look particularly out of kilter with prE¥ious years. Under the CAG system in 2020, at A Level, 69.4% of grades were in the A. to A ran8e12019= 69.4%) and 89.1% at A• to B12019- 90.2%). At GCSE. 44.2% of grades were awarded at grade 912019: 42.1%), with 88% in the 9-7 range12019'. 86.6%). 99.7% were in the 94 ran8e12019.. 99.3%). Grunt-making policy The Governors are cornmitted to broadening access to Abingdon School by offerin8 means-tested bursaries to pupils whose parents/guardians are unable to pay the full day fees. All bursaries are means-tested annually and have a value of up to IIJO% of the day fee5. Pupils must meet the Schools. usual entrante trtteria but need not necessarily show exceptional ability- Abingdon offers an enormous breadth of opportunity and bursaries are aimèd at those boy5 who wll take full advantage of all the School has to offer. Durin6 the year 5912019.. 571 Page 5

ABINGDON SCHOOI REpofff OF THE DIRECTOR5 FOR THE YEAR ENDED 31 AUGUS[ 2020 pupils benefited from Bursaries at a total cost of £709k12019.. £677kl. Of these. 1212019.. 111 were ICiI% bursaries. Abin8don School has a range of stholar5hips and awards offered to pupils entering the School. Scholarships and awards are provided in recogftttion of exceptional academit, music. art and design. drama or sporting abiltty. they carry kudos and privileges wthin the School. Scholarships carry a nominal financial value of £3(#J. and 191 12019.. 1821 were awarded durin8 the year. All scholarships and bursaries #re subjert to satisfactory academit prLEress and behaviour, and in the case of scholarships and awards. to a continued contribution to the disciplirbe5 for whith they were granted. Each case is assessed on its own mertts and awards are made atcordingly. subjett to the Sthoolg ability to fund these within the context of its overall budgets. Pl•nslorfvture perlods To consolidate its position as the school of ¢hoi¢e. the broad aims of the Sthod are.. To develop its position as one of the leading independentsth¢)ols in Britain, wth a reputation for excellent academic, sportinÉ and cultural achievement To encourage in eath pupil, the development of thararter and the many skills they wlll need to flourish at school and bèyond. To malntain and extend the traditSon of accessibility to pupils of high ability. whatevertheir economic or soaal background, particularly through Scholarship and bursary schemes. To win reco8nttion as a centre of excellen￿ in educational practice and to continue to attract hlgh quallty Staff. To maintain and invest in its facilities to support its ￿m5 and Ethos statement. To seek and utilise extra sources of funding. To promote awareness of the School in the community and raise the school's profile in the region by hosting Confe￿nces. sportin8 events and other outreach and partnership actNities. To be environmentally responsible and promote sustsinability. Capltsl de¥elopmemts and re5•Thes Capftoldevelopments The latest phase of capital development has recently fintshed at Abingdon School. This follows a previous set of Capital developments that included a new scien￿ Centre.. Beeth Court.. improved SpI￿1r6 facilities at Tilslev Park,. a heavily refurbished Theatre.. and new all-weather 5POrts Surfa￿ on thè main school site. The latest developments costing approximately £6m indude a new three storey building called Faringdon Lodge to the north of the School. Farin8don Lodge contains new teaching spaw for Business Studies. Economics and Computer Studies, new houser00rn5 and impr(Ned reception faallties. At Abin8don Prep. a new Multi Use Sports Area was built during summer 2017. This is the size ot three tennis tourts and is a fenced artificial surface that can be used for a variety of 5POrts including hockey. football and tenni5. Two new classroom5 were a150 installed at Abingdon Prep alon8side a substantial refurbishment programme of various intemal spaces and the car park and other extemal a￿4$. Resernes Note 13 to the financial statements sets out an analysis of the School's endowment, restricted and unrestricted funds and their attributable assets. These asset5 are sufficient to meei the eharity's obl￿gatiOnS. It is the School's policy to build up funds to meet planned improvements and addition5 to the School's resources prin¢ipally by means of annual operating surpluses. The Governors re8ulady r￿leW the finances, budgets and the spending against budget as part of the effettive stewardship of the Charity. In comrrKn with other independent schools. Abin8don School has invested substantial sums into new school buildings in recent years. and operates a continuin8 pro8ramme of Pa8e 6

ABINGDON SCHOOL REpoKf OF THE DIRECTORS FOR THE YEAR ENDED 31 AU6usf 2020 refurbishment, development and investment to maintsin eX￿lIent tea¢hin& welfare and boardin8 facilities for its pupil5. At the end of the finanoal year the total level of 8roup ￿SeNe$ stood at £60,196k12019.' £58,596kl of whlth £47.094k12019.' £45,202kl was in unrestricted funds. As vAth many indeperndent sthools, the group has ne8ative free reserves as all of the surplu5e5 are reinvested into the school's fixed assets in order to malntain a high stsndard of facilities. The Governors are of the view that given the predirtability of cash flow arisin8 from pupil rolls, the on8oin8 demand for places at the School and the availability of banking finance towards the ¢ost of capital expenditure, despite hawng negative free reserve5, the group has adequate workin8 capital for its ft*reseeable requirements. In¥eslment power5 and policy Investmeftt monoqement The Governor5 are authori5ed by the Memorandum ofAssociation and by the Trustee Act 2CW to invest monies not immediately required for the schools. purposes. or where there is a specific obligation to invest funds to comply with thè terms of a restricted donation, in securities, property or other investments as tfiay be thought rtt. Strat￿1r investment policy 15 set by the Governors and the School then works wtth Rathbo ès, the Schod's Investment managers who then manage the imiestments within prescribed 8uidelines on a discretionary basls. The Investment objectSve is to prote¢t the real value of the capitsl whilst generating incorne with a voew to producing annual growth of a rate at lèast equivalÈnt to the increase in the Sthool's tuition fees. The Governors remain ¢onfident that their investment policy is prudent and likely to produce attrartive returns over the longer term. InvestmentperfomJon¢e The Sth001'5 listed investments deuease(I from £1,271k in 2019 to £1.23Sk in 2020 following an unrealised loss of £41k12019.' £lkl on retsined investments. The Governors wll continue to keep all investmeThts under close review. Publ1¢ Benefft In setting the School's objectives and planning its actI￿tIes. the Direttor5 of Abin6don School, as charity trustees, cornply with their duty in s.17 of the Charities Act 2011 to have dye regard to the Charity Commission's published general guidan￿ concerning the operab.on of the public benefit requirement. Abingdon School has a long history of supportin8 the edu¢ation of young people across the town of Abingdon and in 201&19 developed Abingdon School in Partnership IASIPI in order to coordinate and develop its partnershlp actNItTes. ASIP has threè key 3im5'. For Abin8don School to build on the postb¥e role ti Pla￿ in the local ￿mMunIty For students and staff to collaborate effecbvety and posttively wrth members of the local community. For students and staff to Stretch and (haMen￿ themsefves via collaboration. The followng sections focu5 on the work thatwas undertaken in 2019120 in support of these three aims. Commun Byrsarles.. The Governors of Abingdon khool are committed to broadenlnB access tcithe 5¢hool. The Sthool erndeavour5 to provide an education to those pupi15 who wll best benefit from the 5ty1è of teaching and the facilltie5 that we have to offer. Inevitably, not all parents of such pupils will possess the mean5 tts fund the school fees that the Sthool necessari￿ has to d)ar8e. The Schod pro￿deS mean5 tested bursaries to help address this challenge. During the year 59 pupils beneffted from bursaries at a totsl ¢ost of £709k. In addition to this direct assistance with fees. thè Sthool also sub5idi5e5 ancillary expenses suth a5 school trips wherè parents would otherwise experience financial hardship. Information al)out bUrsar￿S is made available to all Page 7

ABINGDON SCHOOL REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 3IAUGusf 2020 those applying to the School. The Governors make sure that the availability of these awards is well publicised through advèrt15in8 and when visits are made to local primary 5choo15. In addition, details of how to apply are made available on the Sthool's web￿te. Cornblned Cadet For¢e: The school continBent parddes as part of the Remembrance town parade whilst the Contingent Commander serves as a member of the Oxfordshire Lord Lieutenanvs Cadet Selection Panel and as member of the Oxfordshire joint Service Youth and Cadets Commtttee. The ¢adets and staff took part in a charity event and raised just over £2C(N) for a Parkinsons charity. In 201￿20 CCF staff assisted with the natlonal Air Cadet Leadership Course and the Cadet Leadership Course. The SSI a55iSted other CCF contingents. including CEP schools, and local ACF units. Local ATC and ACF units used the School's facilities. includin8 its fllght simulator, at no cost to support thdr activities. Communlty Ser¥l¢e: The Schoofs pro8ramme of visits included over ICKJ pupils in a variety of attrvities suth as.. visits to Abin8don Communtty Hospital both to the wards and the 5ensory8arden,' gardening at St Ethehvold's House.. visits to six care homes to run quiues, play music and for general soual interaction- temily tea parties for residents of the local community.. visiting Abingdon Library to provide information technologysupport to users (often elderly or those with learnin8 difficultiesl- helpin8 Out at the Older and Bolder groy and vi51ting individual reS￿￿ents of Abin8don in small 8rrwJps. Nine mernber5 of 5tsff were involved with the mmunity Sènrice programme. Duke of Edlnbur8h Award: The Abingdort 5¢hool OofE coordinator is the ¢halr of the Abingdon Area DofE committee. Regular meetings prowde a forum for l¢xal youth group5. State and independent schools that provlde acces5 to the scheme to meet and 5UPPOrt one another. Last year boy5 Partiopatin8 in the DOE Award completed over 21M)O hours of volunteering in their local cornmunity. This included volunteerin8 in charity shops, visitlnB the eldedy, coachin8 sports. runnin8 youth groups and helping to run Community organisations. Fundrablnll and OverseasAld: During the 2019120 academic year the Abingdon School community raised £13,9(Ki through a wde range of fundraisin8 events. from home-clothes days and cake Sales to charity concerts. Money raised was donated to tharities voted for by students induding The Abingdon &id8e, Mind. UNICEF. Save the Children and Close the Gap. £l¢)Xl was donated to MAMA U8anda, a charity that was featured in one of the Abin8don Film Unit projert5. Students also collected ttem5 to be donated to the Abingdon Ernergency Foodbank and over two minibuses full of food and hy8iene products were taken in February. In addition to this the D&T department produ￿￿ t)ver 200 rtems of PPE to donate to the NHS. Amey Theatre.. Abingdon School has a 446 seat modern theatre which regularly hosts events forthe community and local schools at discounted or free rates. In the months running from Septelnber to March, the Amey Theat￿ hosted a variety of external events. many of which were either charitsble organisations Isuch as the Abingdon Operatic Soaetyl or organisations fundraising for tharity Isuth as Kinecroft School of Dancel benefiting from a generous discount. The Amey Theatre also ran a live 5creenin8 programme to include the National Theatre Live. Royal Shakespeare Company INe and Royal Opera House Live seasons. Local schools were offered discounted tickets if they wished to bring student groups. Throughout the lockdown, the Amev Theatre created an online platforrn to advertise and prornote &cess to online arts from National venues such as the National The81￿, Royal Shakespeare Company and more local venues suth J$ Pegasus and the Oxford Playhouse. rilsley Park and Sport5 Centre: In September 2014, Abingdon School took over the lease of a substantial track and field fa¢ility in the north of Abingdon called fi151ey Park. The site has three 5-a-side football pitches, two full size a5trfrturf hockey pitches. a full size artificial pitch for ru8by, football and American football as well as a 7-a-side football pitch that is also suitable for rugby training. These fatiltties are regulaAy rented to local community clubs 3nd schools. In 2019120 thirteen IcKal schools used filsley Park free of charge to hold their annual sports day5. Further community use includeé.. three free sport5 events run by the Abingdon School's Sports Partnership,. 35 community club5 re8ularly using Tilsley Park for training andlor competitive matches., along with hostin8 the Abingdon Marathon for a substantially discountsd fee. Schools and other charities are also offered a discount when booknn8 outside of their sports day. The Sports Centre has also introduced an Page 8

ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2020 extènsive pro8ramme of activtties forthè ¢ommunity, including the Ablngdon Sports and Leisure dub membership iwolving access to the facilities and an a￿0V of e¥erose dasses,. courses such as climbing and squash.. birthday parties.. and the successful Abingéon 5wirn School. We have also worked closew wth Oxfordshlre Cricket to prowde the Abir)gdon School sports hall as a regularwinter training base. General publ1¢ and ¢ommunlty programmes: Abingdon School, through the Abingdon Science Partnership IASPI, plays a crucial role in organising and hosting many events during the anrnual ATOM Festival of Science and Technology. This year Abingdon Sthool offiually became a main sponsor of the Festival. The ASP Coordinator has tsken over the rde of Chair of the Festival for 2020121. ASP continued to run monthly Saturday scien￿ aubs on behalf of Stience Oxford who provided all the resources whilst ASP provided teaching staff to run the sessions, the Partnership Lab to host and Scien Ambassadors to volunteer and help out. A total of 156 children plus theirfamilies visited Saturday Saen aubs, delivered and supported by 6 members of staff and IS Abingdon student scien￿ Ambassadors. In addf(ion. a new partnership was estsblished thos year with Autism Family Support Oxfordshire- during the summer holidays ASP delivered 3 online workshops with the help of a student ambassador and a researcher from the University of Oxford Department of PhySKS. Collaboratbon Abin8don School is aware of the unique position it holds both within the Itxal educational landscape and within a broader national pirture of School provision. To this end we have worked hard to set up and develop partnerships with other local 5¢hools whith continue to Brow and thrive a¢ross academic and cross-curricular settings. Abingdon School in Partnership IASIPI was officialfy launched in September 2018 and encomp3s5es all areas of partnership at Jbingdon School, including the Abingdon Science Partnership whith has been running since 2014. The aim is to help staff and students at Abin8don collaborate with. and leam from others within, the local educational community. Impart.. 2019120 saw over 12,SfXI student'experien¢es' within ASiP1Student Experiences ss calajlated as number of students ¥ number of actiwties rnn x number of hours partaken in). OFthese. 2.500 were from primary schools and lo,0￿ were fmm secondary sthools. AblnBdon Sthool In Parffiershlp: Student collaboration and a(ademi¢ rnentoring represented a principal focus of this learning partnership. This year srrtth form students from Abin8don. Fitsharrys, Larkmead and John Mason worked in 8roups to plan and deliver elements of theyear 11 currifAJlum in English tè younger pupils from all schools across a 6-week course. 56 students have been involved in this programme with over 550 sttjdent experiences. In the lent terni the maths department o￿anISed an inter-school maths team thallen8e involving L6 from 3 s¢hoo15 and almost 40 years 8 and 9 students from Abingdon. Latkmead and Fittharry5. In addition, a town-wide peer mentoring pro8ram was established in 2018119, this year over 40 students from five local maintained and independent schools have been trdined in li5tenin8 and counselling skills,. each school then deployed these students to support their exis1in8 pastoral systems. For the first year. a Ru8by partnership was developed with Wasps Rugby. This was a five week wurse in whith the year 7 and 8 pupils at Frf(zharrys were taught basic rugby from scratth. As well asthis we inwted >40 partner school students to wsit the En8land Rugby team when they trained at the sthool in February 2020. We also provSded Latin teachin8 to 11 thildren from three local Secondary schools. with three groups in successlon now hawn8 completed a twikyear GCSE tourse with twice-weekly ontrhour lesson5 from member5 of the Cl3ssi¢s department.. in 2020 82% of the candidates athieved level 7 or better. Lastly, in February 2020 over 50 students from partner Schools attended ourAfter Abingdon ￿ent where tslks were 8Nen on the UCAS process. Gap years. Oxbrid8e and altematives to university- Page 9

ABINGDON SCHOOL REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 31 AUGUST 2020 Prfrnwi School Ualson., A serie5 of curriculum events for local maintained primary school pupils was held in 2019120. Subjects covèred included Business. Modern Languages. the Humanities and Sport. Approximately 80 children and 12 teachers attended each of these events. Transport was arranged from their primary Khoo15 to Abingdon School. The School also visited a variety of local primary xhools to run curriculum workshops and Bive curriculum support and thice, for example. Design and TKhnology at Rush Common and Dunmore, largua8es ènd Geography at Lon8 Furton& Art at Buckland and Lon8 FurfoTh& Ancient History at Carswell. A Small group of Abingdon students visited Carswell every Friday moming to support the readin8 of Year 5 pupil5. These artivities have collectrvely invofved more than local primary sthool pupils. Durin8 lockdown primary schools were contacted and sent materials to help deliver their curriojlum or for use by key-worker5 children. Abln8don Arts Partner5hlp: In 2019120, the Director of Arts Partnerships cNersaw a range of developments in the provision of artS4elated partnership activity. induding primary arts and music partnershlps. Musically we orgHni5ed (although had to Postpone due to C￿1￿19) a joint schools WOfk5hop with the celebrated beatboxer Shlomo. In Film the first joint partnership screenin8 was held in the Arney Theat￿, and featured five new films by partner schools, students. Work with new students was tarried outvia a combination of taster se$5ions at partner schools. followed by a number of Saturday and holiday sessions run at Abin8don. In tern￿ of drama, four students from partnerschools partiopated in the National Theatre's New Wiews playwritin scheme. which involved weekly iwo hour after school sessions run by Abingdon khool 5t3ff. as well as two workshops with Brian Mullen, a NT playwri8hL and a trip to see Yhe Welkin. at the National Theatre before lockdown. fjovernance: Thirteen stsff sèrve as governors of IcKal maintained primary and secondary 5choo15. Abingdon is happy to release collea8ue5 to complete thelr govemante duties when those commitments fall at times when the staff would usually be in s¢hod as the Sch¢)ol understands the benefrt for all parties. Llbrapr. In March 2020, the library funded. adMiniste￿d and hosted an author visit for 3LX) students plu5 their teachers and librarians from four local secondary Schools. In 2020, the librarian also seNed on the commlttee for the twentieth annual Abingdon Schools Carnegie Forum, which would have brought tO8ether around 100 students frorn seven lo(al secondary sth0015 to di5CUS5 books shortlisted for the Camegie Medal and Select the town's favourite. Since eady February 2020. thè librarian has been one of four people spearheading an initiative to promote the greater integration of 'information literarf teaching into the secondary school curriculum,. this initialive. which is on8oin& has attracted support from more than 150 organisations across the UK. Over the course of 2019120 the librarian ha5 continued to mentor three new librarians at other secondary schools, provided information and a¢fvio through the School tibrarians Network ISLNI and supplied lesson plan5 and other resources to 76 setondary sthools auoss the UK. Challen A key aim of ASIP is to ehallenge students and staff throuBh partnerships and collaboration. All the artivities ijexribed above are informed by this sense of thallen8e and fvrther examples are prowded by the Abingdc Science Partnership IASPI. Abin8don'5 Yan8 Suence Centre includes a large. fle￿ble laboratory (the Galileo Laboratory) dedicated for use by the Abin8don Sa'ence Partnership. Abingdon has created an extensive pro8ramme of science partnèrships, establishing itself as a national centre of excellence in this area, as indicated by its shortlistingfor the TES Sthools Award in the Community and Collaboration category in 2018 nd for the TES Independent Schools Award in the Independent-state Sthool Partnership cate80ry in 2019. Import.. In 2019120 ASP worked with 23 primary schools and 7 secondary sth¢)ols as well as 22 other organi5ation5. Over 6,4￿ ASP experience5 (calculated by the number of attendees x number of hours x number of sessions) were1088ed by primary and secondary school students. adults attending Continuing Professional Developmeri ICPDI events. and the general public. (hter 4CPA of ASP experiences were part of lon8-term engagement projects. In total. 125 Abingdon students were inv(Aved in ASP events during the year. Students In other 5chods.' ASP worked with primary and secondary schools atross all key stages during the year. The highly successlul 8rit15h Science Association CREsfstar and Superstar Award xhen7es were delwered t Six primary schools by 6 member5 of ASP stsff supported by 9 Abingdon School students. with 220 Year 2 Page 10

ABINGDON SCHOOL REPORT OF THE DIRECTOR5 FOR THE YEAR ENDED 31 AUGUST 2020 and Year 3 pupils gainin8 award5. ASP offers a Tange of over 20 primary scierce worshops. tailored to the primary soence curriculum, or adaptable for specific topics on request e.8. pirates and materials or development issues such as water purification or climate change. During 2019120. 45 workshops took place in the PartnÈr5hip Lab with 13 different schools. Primary Science Club continued to be su¢ce$5ful *n 2019120, with Abingdon pupils collects'vely volunteering over hours to plan and delNer a weekly soence club for 63 primary pupils from 6 local school& For secondary sthools, ASP staff continued to offer after-school ¢lub5 and research projects open to stLMlents frorn local schools. A team of ATOM Festival Student ambassadors from 3 local secondary schools volunteered their time to advertise, recruit volunteers and desi8n a MUN4nspired aimate Solutions Conference. As part of their research they attended the House of Lords Climate Change Debate. In addition, 30 secondary students from 2 local schools engaged in weekly GCSE Astronomy sèssions delivered by ASP. Once a8ain. The Wellcome Trust Centre for Hurnan Genetics ran their. now award-wnnin& A-Level genetit fingerprinting wod(shop, brin8in8 UP to ￿ght Scientists to work 27 A-Lèvel studènts from 2 different partner schools In the ASP Lab. In a new venture, ASP delivered 2 workshops to sewndary Students at the Oxfordshire Hospital School. Tea¢her< ¢ontlnulng professlonal development {CPDI. Asp organised andlor hosted a number of CPD events for teachers, including the Ogden Trust Primary Sciente Partnership annual training day for 9 schools in the partnership and several workshops in partnership ￿th Prattital Attion forteachers in training. The ASP coordinator chairs the science coordinators. 8roup of the Abin8don Parknership of Schools. organlsing and hostin8 th￿e twili8ht CPD sessions per annum. Furthermore, Abingdon School was selected as a Lead School for the Institute of Physics, Stimulating Physics Network. Four IrKal scho(As have been supported through the weekly 5econdment of the ASP Eoordinator as a School-based Physics Coach in 2019120. Abingdon khool a8reed to provide 0.2FfE of the Coordinatorfs time to thSs initiative free of charge. Èxtludih8 expen5e5. ASP also h05ted the Institute of Physi& Regional CPD day, with over ILhJ attendees. Abingdon hosted a tÈathing and learnirh8 5toff CPD event in September 2019. ￿er 30 teachers from 6 xhoo15 shared experiences on startlf8 Out in teathing and in addition. several Abin8don teachers have had secondments to lo￿1 secondary sthtr)Is to help with their teacher training and professional dèvelopment. Finally, we have welcomed 15 members of staff from partner schools to take par¢ free of char8e. on our Youth Mental Health first aid course. Worklng wlth natlonal orEanlsatlon> A number of primary and secondary students from lotal s¢hools have continued to work on a wildlife monitoring research project supported by the Royal Soclety In ¢ollaboration with our resear¢h partner from Oxford Universitvs Wildlife C£JnseThation Research Unit. Groups of students have presented at the Royal Society Student Conference. The Royal Institution Maths Mastercl3$5e5 were once again organised with Abingdon students receiwng trainin8 before designing and delivering weekly workshops for Year 516 pupi15 from local primary sthools. Finally, ASP worked with Charitable dance organisation Impelo and several research organisations. such as the Weatherall Institute of Molecular MedTrcine and Imperk31 College, to produce the educational dance show CELL. Pa8e 11

ABINGDON SCHOOL REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 31 AUGUST 2020 Energy and Carbon Remln8 ISECR) As part of the obll8ations set out underthe Energy and Carbon Report Regulations 2018, the School is required to disclose the energy consumed and carbon created as an orBanisation over the last reporting year startin8 on or after April 2019. To fullil this. we have measured our UK energy and greenhouse 8a5 emissions as tlassified withln s¢ope l and 2 Istreamlined Energy and Carbon Reportin8 ISECRII which are presented in table l. This statement exclude5 scope 3 emisyon$ 35 these are not tonsidered material to our Sthoofs activities. Table 2 tontains the conversion lactor5 used in the calculation of these fi8ure5. Energy and emissions figures for two prior reportin8 periods lusing 2019 and 2018 conversion fartorsl have been induded for comparison. (Wnlsatlonal and Operarlonal 8oundarie5 of the Sthool. The School does not have a complex company stfurture and therefore atcounts for Icfvj percent of the greenhouse 8a5 IGHGI emissions Irom operations over which it has control, Includin8 the tradin8 subsidiary. Its structural and operational boundaries are the sne with the School operating from four sites.. Abin8don School. Park Road. Abin8don Abin8don Preparatory School, Joscas House. ￿ngSton Road. Frilford rilsley Park, Dunmore Road, Abingdon Boathouse, Wilsham Road, Abingdon Thè khool operates a fleet of 5e¥enteen minibuses for the purpose of pupil transportation as well as a number ofgrounds and other road vehicles used in the operation and Maintenan￿ of Tts sites. Methodolo8y. The methodolc%y used for determining energy and carbon ernissions within thi& section of the report Uses data from a number of Sour￿ of ourgreenhouse emissions: Natural gas used for heatin8 the buildings we occupy and fty hot water (Scope 11. Fuel consumption in vehide5 that are used for business use including stsff vehides and minibuse5 (Scope 11. Milea8e from reimbursed daims for business use in staff owned vehides Iscope 11. Electricity used for li8htin& coolin& air ￿ndItIOning and point of use water heatefs (Scope 21. Ga5 and electricity consumption figure5 have been taken from invoice5 an(15ub-meter readings as appropriate. whe￿ the readingslinvoices do not cover a full year. we have estimated the consumption for the full year based on the avera8e consumption per day in the period. Fuel consumption is measured from fuel cards used by staff when in control of business owmed vehides. Mileagefroffl reimbursed claims from staff has been caleulated using the standard rate of 45p per mlle. For a base year the School has set the financial year September 2017 to Au8USt 2018 as the earliest period for which reliable data is available for the sources above. We therefore include fi8ures for the financial year Sèptember 2018 to Au8USt 2019 (Year 11 as a comparison. taknng into accountthe unusual events ofthe finanaal vear September 2019 to August 2020 (Vear 2) whid) affected the levels of actrvity at all four 51tes. Intensity ratios compare emissions da with an appropriate business metrit orfinanoal indicator. This allows a comparison of energy efficiency performance over time and with other similar types of orBanisation. We have chosen to measure our overall emi5yons per average number of pupi15 as well a5 per £IOO,IXO of annual turnover. Page 12

ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGusf 2020 EnerBy Consumptlon, Greenhwse Gas Emtsslons athd Intenslty RaiiDs TOl￿e l."GHGemlsslonsondeneryyusefvrreporthyyear, comparison rewth¥ ￿￿andb￿se reportlngyears. Ga5 combv5tion kWh1Scope 11 Transport school vehides litres (Scope 11 Transport staff reimbursed miles (Scope 11 Transport kwh (Scope 11 using conversion fattor5 from milesllitres to kwh Electricity kwh Iscope 21 Totsl consumptlon Ikwhl Emissions from combukn.on of gas tC02e Iscope 11 EMIS￿On5 from combustion of fuel for transport putposes tC02e (Scope 11 Emissions from purchased electricity tC02e Iscope 21 4.974.278 5,201.434 5.172,946 25.4CA) 16,S86 27,468 24.483 11.370 21.303 186.226 314.562 288,871 1.734.575 6.895.079 2,202,719 2.150,598 7.718,715 7.612,415 915 956 952 45 77 72 563 Total gross tC02e based on above Average annual pupil number Intensity Ratio.. IC02e 8ross figu￿10verage annual pupil number Turnover £IC¥),OOOs Additional Intensity Ratio- tC02e gross fi8urel£lOO,CQOs tumover Source.. Gos ond electrti¢itysupplierin¥oKes meterreoding5,fvelcard invoices, stuff miletyge cloims. 1.364 1.5% 1,632 1.297 1,278 1.272 1.25 1.28 27.81 29.58 28.29 49.0 53S 57.7 Table 2.. Coth?n Con￿1$[0￿ Rirtoi& Gaseous Fuels Natural gas Diesel (average biofuel blend) kwh 2020 0.18387 Liquid Fuels litrts 2020 10.583 2.54603 Llquid Fuels Petrol (average biofuel blend) Transport Average car. unknown fvel UK electritlty Elertricity generated kwh 2020 Source." UKGovernment GHG Convers￿n Fortorsfvr Compuny Re￿rtIn￿ 2020, BEIS. litres 2020 9.459 2.16802 miles 2020 1.11256 0.27584 0.23314 Page 13

ABINGDON SCHOOL REpoirr OF THE OIRECTOR5 FOR THE YEAR ENDED 31 AUGusf 2020 Enery EffidÈn¢y Artlons Over the last few years Abingdon has been working to redu¢e Sts Carbon Footprint, this has included over the last 12 months the roll-out of LED li8htin8 induding the Amey Theatre and Prep School hallways, the in5ts11ation of Solar Panels on our Estates Hub and modernising our control systems for heatin& ventilation and air ¢onditionin8 IHVACI. We are committed to redu¢e our Carbon Footprint and to aLso Improve t)ur EnNironmentsl Sustainability. The following planned measures will build on tyjr Emiironmental Sustainability Strategy. Instsllation of Solar Panels on the heaviest elettrical demand building. 2. Qjntinuation of LED lighting Roll out. Installation of our First EV Charge poinL Plantin8 of biodiverse areas. Equality Art Abin8don School complies with the Equality Act 2010 and is committed to pro¥Kling equal opportunltles in employment. The Sthool'5 polioes seek to avoid unlawful discrimination in all aspetts Of emploLment including recruitmen¢ promotion, opportunities lor trainin& pay and benefits, disciplirie and selection for redundancy. Dlsabled persons The School will employ disabled persons when they appear to be the most suitable candidate for a particular vacancy and every effort is made tt> ensure they are given full and fair ¢ongderation when such vacanoes arSse. During employment the School seeks to work with employees, taking into account their personal circumstances. to ensure appropriate trainin& dÉvelopment and advan￿ment opportunities are available to enable them to reach their full potential. Sertlon 172 Statement This section 15 in response to a new reF￿rtIng requi￿rnent to explain how the Go¥emors, as Oirectors of the Charlty, have had regard to broader stakeholder interests when perfonning theirduties under section 172 of the Companies Act 2¢Y)6. It is intended to act a5 a 'si8nposV to the relevant areas of the Governors, report and not to repeat the discu￿On in other sections of the report. The Governors understand the importance of maintaining productr¥e relationships with all stakeholder5. Thev do this In many ways. including as described in our se¢tion on Public Benefit Ipage 71 and Employee involvement Ipage 31. The addition this year on paÈe 12 of an Energy and Carbon section demonstrates the Governor￿ re8ard to the role the Charity plays in dimate ¢han8e. Our Aims and Ethos statement on pa8e 3 guide5 the long-terni decision making of Govemor5 and the section cv) page 4 explains in detall the decisions tsken this year in the interests of all the (harf￿s stakeholders in rèsponse to Covid-19. The commentary, startin8 on page S. that discusses our academic results, grant-making policy. plans for future periods and capital developments helps explain the Governor5. focus on the promotion and su¢¢ess of the Charity for the pupi15 at Abin8don, both currendy and in the future. Finally, the 5ertion on Structure. Govemance and Management starting on pa8e 2 undedines the focus of the Governors on nJnnin8 the Charity effertivety and to high standards forthe benefit of all rts stakeholders. Page 14

ABINGDON SCHOOL REPORT OF THE DIREcfoRS FOR THEYEAR ENDED 31 AUGUST2020 Statement of Dlrettots. Responslbllltles The dirertors are responsible for preparingthe (Arectors. Reportand thefinancial statements in accordance with appllcable law and re8ulations. Company law requires the dirertors to prepare financial 5tstements for each financial year in accordance with United Kingdom Generalty Accepted Accounting Practice (United Kingdom Accountin8 Standards) and applicable law. Under company law the dirertors must not approve the ffinandal Statements unle55 they are satisfied that they give a true and fair view of the state of affairs of the charity and the group and of the surplus or defiut of the gmup for that period. In preparin8 these financial statements, the dirertors are required to.. sele¢r suitable accounting polioes and then apply them consistently; observe the methods and prinaples in the Charrf(ies SORP.. makè jud8ements and •¢¢ountin8 estimates th* a￿ reasonable and pwdent. state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements,. prepare the finanval ststements on the 8oin8 COn￿M basi5 unle55 it 15 inappropriate t6presume that the charitable company will continue in busine55. The direttors are ￿sPonsIble for ensuring that adequate accountTng records are maintained that are sufficient to show and explaSn the chariws and the group's transactions and disclose with reasonable accuracy at anytimè the financlal position of the charity and the 8roup and enable them to ensure that the financial Statements comply with the Compènies Art 21￿. They are also rÈspon5iblè for safeguardin8 the assets of the charity and the gro¢Jp and ensuring their proper application in accordance with charity law, and hence for takin8 ￿asonable steps for the pwention and deteciion of fraud and other irwularitles. Provision olinform(rtTon to the auditor Each of the persons who are directors at the time when this directors. ￿pOrt is approved has confimed that.. so far as that each director is aware. there is no relevant audit infomiation of which the charitable company and the Group's wditor is unaware. and each director has taken all the 5tep5 that OU8ht to have been tsken as a director in order to be aware of any information needed by the charitsble company3nd the Group's auditors in connettion with preparing their report and to establish that the tharitable cornpzny and the Group's auditor is aware of that Information. Audltor A resolution to ￿apPOint RSM UKAudit LLP a5 auditorfor the ensuin8 year wll be proposed at a forthcoming Governws meeting. The Report of the Directors and incorporated Strategic Report were approved by the Board on 2 December 2020. MIC EVENS Irman of Govemors DAMIAN TRACEY Vts Chairman of G¢)vernors Pège 15

ABING()ON SCHOOL INOEPENDEMT AUDITOR'S REPORTTO THE MEMBERS OF ABINGDON SCHOOL FOR THE YEAR ENDED 31 AUGusf 2020 Independeni Audltorf5 Rewt Oplnlon We have audited the financial statements of Abin8don School Ithe 'parent tharitable compan) and its subsidiary (the '8roup'l for the year ended 31 August 2020 whith ttmprise the consolidated statement of financial attivities, the school and con501idated balance sheets. the consolidated statement of cashflows and notes to the financial statements. induding a Summary of sgntficant ￿CoUnting policies. The financial ￿porting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. includin8 FRS 102 Ihe Financial Reportin8 Standard applicable in the UK and Republic of I￿land. (United Kingdom Generally Accepted Accounting Prarticel. In. our opinion the financial statements.. Bive a true and fair view of the state of the group's and the parent charitable companVs affairs as at 31 Au8USt 2020 and ol the group's incomin8 resource5 and application of resources. includln8 its income and expenditure. for the year then ended. have been properlyprepared in attordancewith United ￿ngdoM GenerallyAccepted kcountin8 Practice,. and have been prepared in ac(C￿dance with the requirements of the Companies Act 2C#J6. B￿•510T0P1n10n We conducted our audit In attordance with Intematlonal Standards on Au(litin8 IUKI IISAS IUKII.and applicable law. Our responsibilities underthose stsndards are further described in the Auditorfs responsibilitie5 forthe audit of the financial ststements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requi￿rnents that are relevant to our audit of the financial statements n the UK, including the FRC'5 Ethical Stsndard and we have fvlfilled our other ethital responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for ￿Jr opinion. Concluslons relatlng to golftq concem We have nothing to report in respect of the following matters in rdation to which the ISA5 IUKI require us to report to you wherè.. the Directors. use of the goin8 concern ba95 Of accountinB in the preparation of the financial statements Is not appropriate- or the Directors have not disclosed in the finanoal statements any ideniified materfal un￿rtaIntieS that may cast ygnificant doubt about the group's or parent charitable compan¢s ability to continue to adopt the 80in8 concern basis of atcounting for a period of at least twefve months from the date when the ffinancial statements a￿ authorised for issue. 0therlnf0rn￿tlort The DirErtors are responsible for other information. The other information comprise5 the information included in the Report and Ac£ounts otherthan the financial statements and our auditorfs report thereon. Our opinion on the financial statemènts does not cover the other information and, ex￿pt to the extent otherwise explicitly stated in our reporr. we do not express any fom of assurance conclu%on thereon. In connection wlth our audit of the financial ststements, our responsibility is to ￿ad the other information and. in doing so. consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the auditorotherwise appears to be materially misstated. If we identify5uth material inconsistencies or apparent material misstatements, we are required to determine whether there is a matedal mi55tatement in the financial Statements or a material rnis5tstement of the other information. If, based on the work we havè performed, we concludè that there is a material misstatement of this other Information. we are requi￿￿ to report that facL We have nothing to report in this regard. Page 16

ABINGDON SCHOOL

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ABINGDON SCHOOL

FOR THE YEAR ENDED 31 AUGUST 2020

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Directors Report, which includes the Directors’ Report and the Strategic Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Directors’ Report and the Strategic Report included within the Directors Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report or the Strategic Report included within the Directors Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Directors’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Statement of Directors’ responsibilities set out on page 15, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial 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 to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council’s website at http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Page 17

ABINGDON SCHOOL INDEPENDENT AUDrroR'S REPORTTO THE MEMBERS OF ABINGDON SCHOOL FOR THE YEAR ENDED 31 AUGUST 2020 ilse ofowxeport This report is made solety to the tharitable coMpan￿S members. a5 a body. in accordan￿ with ChaptÈf 3 of Part 16 of the Companies Act 2CIJ6. Our audtt work has been undertaken so that we rn18ht state to the charitable compan*s members those matters we are required to state to them in an auditorf5 rep￿ and for no other purpose. Tothe fullest extent perniitted by law, we do notèc￿pt orassume respon5ibilty to anyone otherthan the charitsble company and the charitable companvs members as a body. for our audit worl forthls report or for the opinions we have fom)ed. SP4 Llk AJ& LLP NICHOLAS SLADDEN (Senior Statutory Auditor) For and on behalf ol RSM UK AUDIT LLP. Statutory Au(litor Chartered Accountants. 25 Farringdon StreeL London EC4A 4AB Date.. 3 2020 Page 18

ABINGDON SCHOOL FINANCIAL StATEMENTS FOR THE YEAR ENDED 31 AUGusf 2020 Consolldated Statement of Hn•Klal Iln¢orporatkni kncome and expendltuve account) Z020 Total Fund$ 2019 Total Fund5 Funds Funds Funds £'ooo INCOME AND ENDOWMEpif5 FROM: Charitsble acUvities= School fees Ancillary Income Ezmed from charitsble acMies 24 1.774 24￿*0 25,892 1,774 2,333 28,225 Donations Tr3din8 & letbngs Investments TOTAL INCOME 217 779 235 452 779 51 27A87 123 1,188 45 29,580 27M9 EXPENDttURE Expenditure on charitable a¢b￿lies= School operatln8 ¢0$ Costs of raisin8 funds 24W6 76 361 25284 26.086 136 Other expenditu￿.. Trading & lettings Costs Flnance costs TOTAi EXPENDifuRE 5a 970 17 17 26246 27,208 76 367 NEf INCOME BEFORE GAINSI (LOSSESI ON INVESTMENTS 105 (350) 1.642 2,373 (Losses) l Gains on investments Transfers 9b 14 19) 119) 1181 {411 MOVEME1￿ IM FUP4DS li92 (387) 2,374 Balance brou8ht forward at I September 2019 45.202 461 12.932 58,596 56.222 BALAPKE CARRIED FORWARD at 31 AuBu5t 2020 14 47JI94 557 60.1% 58,596 All amounts relateto continuin8 operatlon The notes to the financial statements on page5 22 to 37 form part of these ac¢ourt& Pa8e 19

ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 School and Consolklated Balance Sheets GROUP 2020 Notes 2019 2020 2019 FIXEDASSET5 Tangible fixed a55ets Investment assets 59.603 1.235 57,217 1.271 58.488 59.522 1235 60.757 57,113 1,271 58,384 CURRENT ASSErs Stocks Debtors Cash 23 19 io 1.146 4,828 5.992 4.912 6,031 5.864 6,690 5,622 6,521 CREDITORS.. Due wthin one year li 14,3011 I4￿64) 14,0981 NETCURRENT ASSErs 2.390 1,929 2.424 TOTAL ASSETS LESS CURRENT LIABIUTIES ,877 62,686 60.808 CREDITORS.. Oue aftèr more than one year (2A47) 12,2811 IL4471 12,2811 TOTAI NET ASSET5 60,196 58,596 60,239 58.527 ENDOWED FUNDS 12.932 12,932 RESTRICTED FUND5 557 461 SS7 461 UNRESTRicfED FUNDS 45.202 47,137 45,134 TOTAi FIJNDS 14 60,196 58,596 60,239 58,527 A5 permittetl by $408 of the Companies Art 2(lJ6. the tharitable company has not presented è separate Statement of Financial Activities and Income and Expenditure AccounL The tharitable compan￿$ net In¢ome after expenditure was £1,711k12019.. £2.222kl. The finan al statements were approved bythe Board of Govemor5 ofAbingdon School on 2 December 2020. Ml EVENS Chairman of Governors OAMIAN TRA Vice Chaimian of Govemors The note5 to the finanaal ststements on pages 22 to 37 forrn part of these accounts. Page 20

ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU￿ 2020 Consolldated stateffiL￿t of Cash Ilows Notes 2020 2019 fr4et cash ￿nerated from opeRtlon5 5,751 Investment acll¥ltles.' Payments for tangible fixed assets Proceeds from sale of fixed assets Payments for financial investments Cash withdrawn from investment portfolio Bank interest received Proceeds from sale of investment property Net ¢ash absorbed by inbstin8 artivits 162871 13.5081 9b 9b 28 89 12 13.4131 Fln•n¢ln8 a¢tl¥ltl•&' Bank charges Net cash absorbed byfmmndng arti¥lt*s iioi {ioi (Decreaselllncruse In cash In the ¥ear 19511 2,328 Cash and Cash equivalents at I September s￿64 3.536 Cash Cash equfvalents * Yi August 4.912 5.864 The notes to the financial statements on pages 22 to 37 forrn part ofthese accounts. Page 21

ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU￿ 2020 COMPANY LIMITED BY GUARANTEE The School is a company limlted by guarantee. ￿gistered in England, and is a RegiSte￿d Charity. Each ￿reCtO￿S liability would be limited to an amount not exceedin8 £10 in the event of the School windin8 UP. ACCOUNTING POLICIES A¢¢ountin8 Con¥entlon The fSnancial statements have been prepared in accordan¢e wth Accounting and Reporting by tharitie5.' Statement of Recommended Prartice applicable to charities preparin8 their accounts in accordance wlth Ihe Financial Reporting Standard applicable in the UK and RepublK of Ireland IFRS102 effective l January 20191- Charities SORP IFRS 1021. the Financial Reportin8 Stsndard applicable in the UK and Republic of Ireland IFRS 1021 and the Companie5 Act 2￿6 and under the historical cost convention modified to include the revaluation of investments at falr value. In accordance with FRS 102 as a qualifyinÉ entity. the School has taken advants8e of the exemptioTh from the following disdosure requirements'.- Sertion 7 Statemeni of Cash Flth¥s- Pre5entstion of a tharity only Statement 0￿Sh Flow and related notes and disclosures. The finan¢ial statements are prepa￿d in sterlin& whith is thefundonal currenry ofthe charity. Monetary amounts in these financial statements are rounded to the nearest £i.rxKJ. Abin8don Sthool rneets the definition of a public benefit entity under FRS 102. The charitys business address is Abin8don Sthool, Park Road. Abin8don, thfordshire OX14 IDE. bl Going concern At the time of approving the financial ststements, the Di￿ttOr$ have a reasonable expectation that the ¢harity and group have adequate resources to continue in operational existence for the fo￿Seeable future. We have prepared a number of Scenarios that consider our cash position, sources of intome and planned expendlture. This includes the impact of ￿[onaViTy$ on operations together with assumptfions around recovery thereafter. These scenarios consider reduced pupil numbe￿. reduced fees and potential bad debts as well as impact on costsfrom the measLrrestsken so far. SensitNity around these assumptions has also been tonsidered in ourlowasting. Results ol this cè5h flow and Sensitivity analysis indtcate that the cash reserves of the charity are adequate to meet the tharitws obligations as th¢y fall due. Thus the Dirertors continue to adopt the going concern basisof accountin8 in preparin8 the financial statements. Basis olconsolbdatlon The consolidated Igroupl accounts comprise the charity and its whtslly-owned subsidiary Abingdon School Enterprises ￿mIted. All inlra*roup transactions. balances and unrealisetl gains on transactions between 8roup companies are eliminated on consolidation. A summary of the proffc and loss account for the subsidiary is shown in note 17. A separate Statement of Financial ACt[￿tieS and Income and Expenditure account for the khool itself has not been pr¢sented in accordance with the exemptions afforded by Section 408 ofthe CornpaniesAct 2￿6. The School'5 income was£27.148k12019.. £28,458kl. expenditure £25,395k 12019 £26,239kl, and a loss on in¥e5tments of £41k, 8Mng net income of £1.711k12019: £2,222k}. d) Fees and Similar Income Fees receivable and (hargesfor semces and use of premises a￿ accounted for in the period in whith the Service is provided. Fee5 receivable are stated after dedu¢tin8 allowances, scholarships and other remissions allowed by the School. Interesi income is accrued on a time-apportioned basis. by referencÈ to the prinapal outstandin8 at the effective interest rate. income was generated in the U Page 22

ABINGDON SCHOOL FINANCIAL sTATEME￿rs FOR THE YEAR ENDED 31 AUGusf 2020 Donatlon5 Donations receNed for the general purpose5 of the Schools are C￿￿lted to 'unrestri¢ted fvnds, and are recognised when entitlement to the funds exists, receipt is probable and the amount can be reliably measured. Donations subjert to specific wishes of the donors are carried to relevant restrirted funds or to endowed funds where the amount is re9uired to be held as pem)anent capital. Empendlture Expenditure is reco8ni5ed On￿ there 15 a le8al or constructive obligation to make a payment to a third party, it is probable that settlement will be ￿qUired and the amount of the obli8ation can be measured reliably. Certain expenditure is apportioned to cost categories based on the estlmated amount attributable to that activity in the year. The irrecoverable element of VAT is induded with the item of expense to which it relates. Costs of raising fund5 comprise the costs assooated with attracting voluntary income as well as costs incurred liaising wth alumni. Charitable expentliture comprises those costs incurred by the tharity in the delivery of 'ts acttvities and seryices for its beneficiaries. It indude5 both c05t5 that con be allocated directly to suc actlvities and those costs of an indirert natyre necessary to support them. Governance costs comprise the cost of runnlng the charity. including external audit, Governor5 le8al advice and constitutiona! and statutory compliance costs. Investments sted investments are carried at th*r mt&market value at the balance sheet date. REalised gain5 and losses on investments are calculated as the difference between sale proceeds and market value at the start of the yearor subsequent Cost and are ¢redited or char8ed to the statement of financjal actNities in the year of disposal. Unrealised 8ain5 0nd1055es representthe movement in the market values during the vear and are credited or Charged to the statement offinancial acbkities based on the Ma￿et value at the vear end. Unlisted investments are hdd at C05t. h) Inve5tmerbt Income Income from these imiestments is accounted for on a receivable basi& Inte￿$t Is ac¢ounte(I for on an accruals basis. Stocks Stock Ss valued at the lowerof cost and net realiSab￿ value. Debtors Trade and other debtors are reco8nised at the settlement amount due after any tradè discount offered. Prepayments are valued at the arnount prepaid net of any trade discounts due. k) Tan8ible Fixed Assets Tangible assets are stated at historical cost or valuation less depreciation. Items of £5,OlJJ or less are expensed in the year. Projects under wstru¢tion are not depreciated. Depreciation is provided on a straight4ine basis as follows: 8uildin8S 8enerdlty 25 year& in event more than 50 years Motorvehides 4 years Sports equipment 4 years Fixtures. Fittin85 and Equipment 4 to 10 years The carryin8 values of fixed assets are wewed for impairment only when events ind￿ate the carrylng value may be impaired. Page 23

ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGusf 2020 Cash at bank Cash at bank and cash in hantl includes cash and short term hi8hty liquid investmentswith a short maturty of three months or less from the date of acquigtion oropening of the deposit or similar account. Credltors Liabilities are recognised within the finanoal statements in respert of all expenditure for whith the entity has a measurable obligation, be it construrtive or legal, at the balance sheet date. Flnanclal InstNments The School applies the provisions of Section 11 'Basic Finanaal Instruments, of FRS 102, In full. to all of its rinantial instruments. Finanoal assets and finanoal liabilitlesare recognised when the khool becomes a partyto thecontractual provisions of the instrumenL and are offset oft￿ when the Sthool currentty has a legally enforceable right to set off the recognised amounts and intertds either to settle on a net basis, or to realise the 055et and settle the liability simultaneous￿. FIn0n¢￿10$$ets Basic financial assets which include trade and other receNables and cash and bank balances. are initially meBsured at transaction price induding transaction costs and are subsequently carried at amortised c05t usin8 the effertive interest method. unless the arrangement constitutes a financing transactlon. where the transaction is measured at the p￿sent value of the future receipts discounted at a market rate of interest. Fint7nciol liabilities Basic financial liabilities including trade and other creditors are initially measured at transaction piice, unless the arrangement constitutes a financing transaction, where the dèbt instrument is measured at the present value of the fvture receipts discounted at a market rate of interest. Other financial liabilities dassified as fair value through profit or10$5 are measured at fair Value and are subsequèntly measured at amorused cost. Penslon Costs The School operates two types of pen￿on schemes for their èmployees. Teoching Stoff The School contributes to the Teacherg Pension Lkfined Benefits 5¢heme at ratey set by the Scheme Actuary ènd adw5ed to the Board by the Scheme Administrator. The scheme is a multimployer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the School. In accordance with FR5102 the￿fore. the scheme is accounted for a5 a defined contribution scheme. Non-Teo¢hing Stoff SclRme There are five different schemes all of whith operate on a defined contribution basi5. The pension cost harged to the Statement of Financial Activities represents the amount of the contrib￿lOn$ payable to the scheme in respect of the accounting period. p) Emptre beneffts The costs of employee benefits are recognised as a liabllity and an expense, unless those costs are required to be re¢o8nised as part of the cost of sto( or fixed assets. The cost of any unused holiday entitlement is reco8ni5ed in the period in which the employee's servites are received. Terminètion beneftts are recognised immediately a5 an expense when the School is demonstrablv committed to terminate the employment of an employee or to provide termination benefits. Page 24

ABINGDON SCHOOL FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGusf 2020 ql Leases Assets obtained underhire purchase contracts are capitslised in the balance sheet. Those held under hire pur¢hase Contrarts are depreciated over their estimated useful INes or the lease temi, whithever is shorter. Rentals paid under operatin8 leases are thar8ed to 5tatementof finandal acuvities on a straight Ilne basls over the period of the lease. Fund ac¢ouffitSng Restricted funds are to be used for specified purpose5 laid down by the donor. Expenditure for those purposes is thar8ed to the fijnd, together with a fair allocation of (hferheads and support Costs. Unrestrirted fvnds are donations and other incoming resourw re￿iVed or generated for expenditu￿ on the 8eneral objeclive5 of the Trust. Endowment fund5 ¢on5iSt of fixed asset donations where the capitsl is hdd to provlde income for bursarles. The purpose towhith these assets may be applied is restricted in accordance wlth the tem)s of the endowment trust. Judgernents and key sources ol estlmatloTh uncertaknty In the application of the thariws accountinB poliaes, the tlrectors are required to make ju(J8ements, estlmates and assumptions about the carryin8 amount of assets and liabilitles that are not readily apparent from other sources. The estimates and assoaated assumptions are based on hi5toTical experience and other factors that are considered to be relevant. Actual ￿5￿11$ may 4Jifler from these estimates. The estlmates and underlying assumptions are reviewed on an ongling basis. Revisions to accounting estimates are recognised in the period in which the estimatè is re¥ise<l where the revision affects only that period, or in the period of the and future periOdSwhe￿ the ferfision afferts both current and future periods. The following judgements have had the most significant effect on amounts re¢o8nised in the financlal statements.. Depreclatlon of tsnglble fimed assets The Governors exercise their judgement in assessingthe experted remaining useful lffe of the assets held. Page 25

A81NGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf 2020 SCHOOLS. FEES Fees re¢el¥abl* conslstof: 2020 £'o 2019 Gross tuit￿￿ fees Less.. Scholarships. Foundation Grants and Commissions 26,111 15711 27,ILN) 15301 26,569 Less.. Bursaries from unrestricted lunds Less: Bursarie5 from restrirted funds Totsl Bursarie5 16321 1451 16771 164) 17091 Net fees roc•l¥able 24,830 25,892 OTHER INCOME a) An¢lllary In¢ome 2020. 2019 Coache5, trips and other rechar8es Registration fees Retsinedlforfeited deposit income Govemment Grant Other ancillary income Total 1.124 2,140 102 41 39 1.774 2,333 bl ITh￿$￿ent l•Kome Z020 2019 Dwidends re¢eNed in investment portfolio Bank Interest ￿CeIVed Total 51 45 <) Donatlons Income 2020 2019 £'ocx) Restrlrted bursaries Other restricted donations Unmstricted donation5 Total 147 217 452 123 Page 26

ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUSf 2020 EXPENDITURE Analysts ol total exp•)dltyre Totsl latlon 2020 £'coo Expenditute on tharft4ble act￿￿1 Teachin8 Costs Welfare Premises 128 IY,Y28 1,925 6,024 744 855 L536 L181 1.704 669 29 Support Governan￿ costs (note 71 Coaches, trips and other 1,169 25,284 15 5.857 3,59> ooher expendbture: Tradin8 and lettin8 Costs Fundraising Costs Finance costs (note 61 Total reSt￿l¢e$ expended 850 95 17 26.246 17 6338 16292 3,616 lndudes prOfit￿o$S on disposal and profit from sale of fixed assets Staff ¢¢>sts Deprec- latbon. Total 2019 £'(KID Expenditure on ¢haritsble •thibe&" Te3¢hing ¢osts Welfare Premlses Support Governance costs (note 71 Coathes, trips and other 11,661 727 828 1,552 1,329 1,561 2.238 151 13.142 2.288 6,186 2,353 35 2,082 Z6.086 3,119 29 1.998 7,137 13,984 2,887 Other expend5ture: Trading and letting costs Fundraising costs Finance costs Inote 61 Total resources expended 322 623 970 136 17 27,208 17 8,652 15.260 3,296 'includes profrtlloss on disposal and profttfrom sale of fxed assets Support Costs include staff costs and other costs related to marketin& ad¥erbsin& finance, HR, photocopyin8 and other administration costs. Page 27

ABINGI)ON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf 2020 EXPENDITURE l¢ontinuedl bl Net Incomlng resouices are stated atter thar8ln8: 2019 Depreciation of tan8lblè fftxed assets Loss on disposal of trn￿ts1e fixed assets Operating leases Auditorg remuneration for audit Other professional services from audit firni.. Tax compliance 5er¥i 3,616 3,274 22 58 27 27 The above costs indude irrecoverable VAT. Employef pwll costs 2020 2019 Wages and $3larie5 Social security costs Pension contributions 12.057 1.230 1.701 14.987 1289 2278 16AIIO The average number of person5 employed bythe Group and thecompany in theyearwa$39312019.' 3881. Of these 159 were teathin8 Staff12019.. 1571. In addition to the above there were 4912019.. 591 muslc. sport and English as a Foreign Lan8uage tsathers. Neither the Directors nor persons connected them recewed anyremuneratlon orotherbtnefitsfrom the Schools or any connerted organisation. The number of employees whose emoluments exoeded f60,1x￿ were.. 2020 2019 No. £60.0)1-£70,rA)o £70,CQl-£80,(M)O £80,CQI-£90,OJO £90,CKII-£ITr),O(M) £iOO,CKJi4110.C(Q £110,001-£120,0 £150,001-£160.CD) £160,001-£170.CD) £200.001-£210.rxi) £240,(XJI-£250,C 22 PensSon costs for staff eaming over £60.IM> were £5(Th12019'. £345kl. This relates to Defined Contribution stheme5 for 5 staff12019.. 51 and Defined Benefit schemes for 29 staff12019.. 24). Pa8e 28

ABINGI)ON SCHOOL FINANCIAL sfATEMEpirs FOR THE YEAR ENDED 31 AUGUST 2020 EXPENLHTURE Icontinuedl Key rnanagLbment per￿)nnel (Group and Schoo The annual cost lor the members of staff who are considered to bè key mana8ement personnel lin addition to the 8ovemorsl were= 2020 2019 roo) 1,147 1.143 Key mana8ement pery)nnel indudes the Headmasters of Abingdon School and Abingdon Prep School, the Director of Finance and Operations, and the Director of AdMi55ions and Marketing. It also indudes the Second Master, Deputy Head Academic and Deputy Head Pastoral at Abingdon Scho￿. FINANCE Costs 20 2019 E'OLKI Bank Charyes Investment managerfees io- li 17 17 GOVERNANCE CO 2020 2019 E'OLM) Auditorfs remuneration Governor administration costs Director expenses and costs 26 32 35 During the year 3 CArectors12019.' 3} were reimbursed £2.08812019: £2,862) in respect of travel expenses. Page 29

ABINGD014 SCHOOL FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2020 8. TANGIBLE FIXED ASSET5 al Group Land Prokcts & Progress Bulldings Motor Veh•des Total Equlpment Fbttlngs & Equipment £'o Cost At I September 2019 AddStions Transfers Disposals At 31 Au8USt 2020 59,370 L540 5.786 12731 677 56 16,186 59 273 151 16513 711 ioi 78,484 6.003 1221 712 1531 759 1791 59A70 7.053 Ilepredaii¢)n At I September 2019 Charged for the period Disposals At 31 Au8USt 2020 13.858 2,050 6,295 1.405 21,268 3,616 1791 24.805 51 1221 637 iio 1531 7.696 Net Bookvalue At 31 August 2020 7J)53 75 8￿18 195 59,603 At 31 ALgUSt 2019 45.512 69 9.891 203 57,217 bl Sthool land Projects In Pro8res5 Equlpment Total Flttlngs & Equlpment r￿0 Vehicles Bulldln85 At I September 2019 Additions Transfers Disposals At 31 August 2020 59,370 668 15.986 59 273 711 ioi 78,276 6,003 5,786 12731 1221 703 1531 759 1791 84.199 59370 7,053 16314 Depreciation At I September 2019 Charged for the period Disposals At 31 August 2020 13.858 2,050 602 49 1221 629 6.197 L385 151 7.577 508 iio 1531 564 21,164 3,593 1791 24fi78 Net Book Value At 31 August 2020 4YA63 7.053 74 8,737 195 59.522 At 31 Au8USt 2019 45.512 9.790 203 57,113 The above assets are all used in the fvrtheran¢e of the tharitvs objects. Pa8e 30

ABINGDON SCHOOL FINANCIAL 5fATEME1￿rs FOR THE YEAR ENDED 31 AUGUST 2020 TANGIBLE FIXED ASSEfs Icontinuedl Revaluatlon reserve The net tarylng value of the Sthool's f￿hold land and buildings of £43,463k12019'. £45,512kl are held at deemed cost based on a valuation tarried out byGVA Grimley Intemational Property Advisers in August 1999. who prepared Existing u￿ Valuations on eath of the tsvo Schools, adopting a Depreclated Replacement Cost basis for the Abin8don site and boathouses. This gave rise to a revaluatlon reserve of £12,576k12019.. £12,576kl. Had the land and bulldings been irbduded in the accounts at historical cosL the net book Value would have bÈen as follows: 2020 2019 rooo 46.794 110.5171 36,278 Attumulated depretiation Historical net bookvalue (12,5661 INVESTMENT5 The ChafitVs are as follo￿. 2020 2019 Listed investments, at market value Cash awaiting re-investment 1,1 1.214 1,218 17 1,235 1.254 17 I,Z71 Unlisted inVestm￿ts Investments The carryingvalue of Abin8don Sthod Enterprises Ltd is £1. The mo¥￿ent during the year on investments and cash is shown below: Unrestrlcted Restrkted Pernianent endt)wment Total At I September 2019 Additions Dividends receNed Cash withdrawn Cost offvnd management Unrealised loss At 31 Au8wt 2020 336 227 7C8 1271 18 {iii 1281 161 1411 1235 161 1191 {￿1 {91 227 Pa8e 31

ABINGDON SCHOOL FINANCIAL STATEME1￿5 FOR THE YEAR ENDED 31 AUGusf 2020 INVESTMEMTS Icontinuedl The historic cost of the investments linclu*Jing cash) is £1,148k 12019.. £1.149kl. Included in the investments are overseas investments wth a market value of £281k12019.. £176kl. Ins￿¢m￿nI In subsldl¥y The investment In AJ)in8don School Enterprise5 ￿Mited represents of the share capital of that company. The Company is re8lStered in the UK and operates a retail business. The results of this entity are consolidated into these financial statements The imiestment in the subsidiary 15 eliminated on consolidatlon. The results of thesubsidiary are disclosed in Note 17. 10. DEBTORS GROUP 2020 SCHOOL 2020 2019 2019 Sundry debtors and prepayments Fees and extras Amounts due from subsidiary 743 58 713 19 148 61 124 1.146 ii. cRED￿oRs.. AMOUNTS DUE WtrHIN ONE YEAR GROIJP 2020 SCHOOL 2020 2019 £'ooo £,￿0 2019 Fees recèived in a(fv3nce Trade creditors Sundry creditors and accruals Acceptance deposits L624 L267 853 1,871 686 1.321 422 4.301 L871 674 1,129 422 4.098 1258 702 4.226 4.064 Sundry ¢reditQT5 and accruals include £466k12019.. £751kl in respect of atcmed works for capital projects. 12. CREDITORS.. AMOUNt5 DUE IN MORE THAN ONE YEAR GROUP AND SCHOOL 2020 2019 rooo £'ooo Acceptance deposits 1447 2,281 Acceptance deposit5 represent deposts taken at the time a pupil has been granted a pla¢e at the school and are refundable when the pupil finishes his education at the sthool. The deposits are allocated to creditors owed in les5 or more than one year according to when the pupil is nomialty expected to leave thesthool. Page 32

ABINGLY)N SCHOOL FINANCIALsfATEMENTS FOR THE YEAR ENDED 31 AUGusf 2020 ALLOCATION OF GROUP NET ASSErs Totsl Sess total Ilabllbtles £￿￿0 2020 Pemmnent endawment Hammond legacy Land and buildings Expendable endo¥mient Land and buildSngs Totsl Endowment fvnds 9.559 9.559 2,304 li 12y6 Restrlcted funds 227 557 Unrestrl¢ted fvnds 47,658 47.137 Total School 59522 1518 60238 Subsldlary reserves 81 1124). 1431 Total Group 1612) Flxed Assets In¥esknents Currerrt assets besstotal Ilablltles Total 2019 Hammond legacy Land and buildings Expendable endowment Land and bulldings Totsl Endowmentfunds 9.792 9,792 2.433 12224 2.433 12,932 Restrlcted funds 226 235 461 Unrestrkted funds 336 91) Total Sthool 57J13 1271 144 58A27 Subsldlary re5er¥e5 104 1361 Total Group 57217 1271 58.596 Free reserve512020.'1£645kl, 2019: £210kl are defined as thè unrestritted elements of Investments and Current assets less totsl liabilities. Page 33

ABINGDON SCHOC FINANCIALSTATEMErirs FOR THE YEAR ENDED 31 AUGUST 2020 14. FUNDS Income ExPendhU￿ Invesimnt in Balance 31 AuBust 2D20 31 AU￿$t Tr•nsfers 2019 2020 Pemanent endowment Hammond legacy PrTze funds Land and buildings Expendable endThvffieftt Land and building5 Total Endowment fvnds 1181 1191 683 9.792 12331 9.559 2.433 12,932 11291 13671 2.304 1191 Restrirted funds 461 1761 557 Unrestricted fvnds 26.950 I24￿52) 47.137 Totsl Sth¢)ol fund5 58x7 27.148 IZ5J951 60239 Subsldiary ￿serveS 739 18501 1431 Total Group funds 58J96 27m7 26.146) 141) 60,1% Balance 31 Aulusl Trnnsler5 20 Balance 31 Au8USt 2019 8Jln 2019 Peimanent endowment Hammond legacy Prize funds Land and bvildln8S Expendable endowrnert Land and buildings Total Endowmem fvnds 711 415 11.892 1211 14081 12.IWI 21 161 708 9,792 3.386 16A04 19531 13.483) 2,433 IZ,932 21 its) Restrf¢ted funds J5 14791 461 Jll,￿ 3.962 28J59 126.1531 45,134 Total Sthool fund5 56J06 126.2381 58,527 Subsidiary reserves 1841 1.122 19701 68 Total Group funds 56222 127308 58,596 Page 34

ABINGLK)N SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf 2020 The Hammond legacy is an endowment invested to provlde in¢on for bursary and other support. The income from each year is then transFerred into un￿Stricted to pr￿de fvnd5 for the sthL)oI. Restricted funds are to Provide for the long temi future fc the Sthool and to provide funds for bursaries and scholarships at the Govemors, discretion. The addition5 in the year are either for bursaries and scholarshlps or areas specifled by the donors. 15. CAp￿AL COMMrrMENTS- GROUP AND SCHOOL Capltal commitments as at 31 Au8USt 2020 totalled £nil12019.' £4.903kl. 16. OPERAnNG LEASE5- GROUP AND SCHOOL At 31 August2020, there wwe outstanding commf(ments forfuture mlnimum lease paymehts under non- an¢ellable operatin8 lease5. whith fall due as follow5: 2020 2019 £'oco 58 88 Within one year Within two and fwe years Over ftve years 145 17. RESULTS OF THE TRADING SUBSIDIARY The xhool LK4ns a non<haritable trading subsidiary. Abingdon Sthool Enterprise5 Limited, re8lStered company number 4442429. which operates as a retail and lettings business and distrlbutes any taxable proflts to the school under Gift ￿d. The trading results for the subsidiary are shown below.. 20ZO 2019 E'OOO Profft and Lo$sA¢¢¢￿ni Tumover Cost of sales Gross profft 739 12201 519 1,122 13111 811 Cost of administration Net surplus {6301 {iiii 16581 152 Balance Sheet Total assets Totsl liabilities 242 12851 143) 419 13511 Called up share capital Profit and Loss account (43) 143) Included within cost of adminlstration i5 £2C12019= £1(l thar8ed by the Charity to Abin8don School Enterprises for use of the Amey Theatre. This charge has been eliminated on con501idation. The net Ilablllty of thetradin8 subsidiary ￿￿ed to the Charrty as at 31 Au8USt 2020 was £124k.12019.. £148k} Page 35

ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU￿ 2020 18. NOTE5 TO THE STATEMENT OF CASH FLOWS Reconaliaiion of net incomin8 resources to net tash generated from operations 2020 2019 £'coo Net movement of fund5 Investment IriCOme Finance c05t5 Depreciatiorh tharges Loss on disposal of fixed a55ets Profit from sale of fixed assets Decrea5e/lincreasel in stocks Ilncreaselldeuease in debtors Increaselldecreasel in creditors lexc capital ¢￿ditor movement) LossllGainl on inveStm￿ts 2,374 1451 17 3.274 22 1511 17 3,616 {61 1271 143 {ii 1296) 37 41 Net cash generated from operations 5,751 19. PENSION SCHEMES Teacherf PeTr5ion kheme The School participates in the Teacher< Pension Scheme l-the TPS") for its teachin8 Staff. The penslon charge for the year indudes contributions payable to the TPS of £2.585k12019:£2.050kl. At the yearnd there were no unpaid accruals in respect of contributions to thls stheme. The TPS is an unfunded multimployer defined benefits pension scheme 8overned by The Teachers, Pensions Regulations 2010 las amendedl and The Teachers. Pension Scheme Re8ulations 2014 las amended). Members contribute on a -pay as you go- basis with contributions from members and the employer being credited tothe Exchequer. Rth"rementand otherpension benefitsare paid by public funds provided by Padiament. The employer contribution rate is Set by the Secretary of State followin8 Scheme valLtations undertaken by the Govemment Attuarfs Department. The m05t recent actuarial valuation of the TP5 was prepared as at 31 March 2016 and the Valuation Report. which wa5 published in March 2019, confirmed that the employer contribution rate for the Tr5 would increase fr¢)m 16.4% to 23.6% from 1 September 2019. Employers are also required to pay a stherne administration levy of 0.08% si￿ng a total employer ¢ontribution rate of 23.68%. The 31 March 2016 Valuation Report w35 prepared In attordance with the benefits set out in the scheme regulations and underthe approach specified in the Directions, asthey applied at 5 March 2019. However, the assumptions were considered and set by the Department for Education prior to the rulin8 in the 'McCloud/Sargeant case.. This case has required the courts to consider cases re8ardin8 the implementation ol the 2015 refomis to Public Service Pensions including the Teachers, Pensions. On 27 June 2019 the Supreme Court denied the g￿MMent pem)ission to appeal the Court of Appeal's judgment that transitional provisions Illtroduted to the reforrned pension schemes in 2015 gave rise to unlawful age discrimination. The government is respecting the Courfs deo&on and has said itwill engage fully with the Ernployment Tribunal 35 well a5 ernployer and member representatives to a8ree how the disthminations will be remedied. A con5ultstion was launched by the govemment of 16 July 2020 and dosed to responses on 11 OLtober 2020. Page 36

ABINGDON SCHOOL HNANCIAL STATEMÉNTS FOR THE YEAR ENDED 31 AUGUST 2020 TheTPS ISs￿bletttoa costcap meChan￿M whith was put In placeto proterttsxpayers against unforeseen changes in stheme costs. The Chief Seuetary to the Treasury. having in 2018 announced thatthere would be a review of thls cost Cap mechanism. in January 2019 annoUn￿d a pause to the cost cap mechanism following the Court of Appeal's rulin8 in the Mcaoudlsargeant case and untyl there is certalnty about the value of penslons to employees from April 2015 onwards. The pause wa5 lifted in July 2020 and the government Is preparing to complete the ¢0st control element of the 2016 valuations. and Is expected to be ¢ompleted in 2021. In wew of the above rulings and de¢isionsthe assumptions used in the 31 March 2016 AC￿arIal Valuètion may become inappropriate. In this scenario. a Valuation prepared in accordance with revised benefits and suitably revised a5surnptions would yield different results than those ￿rtt81ned in the Actuarial Valuatlort. Until the consuttation and the tost ¢ap methanism review are completed it is not Possible to conclude on any financial impart or future chan8es to the contribution rates of the TPS. A¢¢ordin8ty, no provision for any additional past benefit pension ¢osts is induded in these finantial statèments. Non-Texher< Penslon Schemes The School a150 runs pension stheme5 for its non-teaching staff. which a￿ all defined contributlons stheme5. The cost for the year of £455k12019'. £419kl represents the CharitV5 contribau ions to these 5theme5 and the￿ were no unpaid contributions outstanding at the year end. 20. RELATED PARTIES Durin8 the year donations were received from Governors totallin8 £15012019.. £2LKJI. During the year, the School purtha5ed u538e of filsley Park totalling £37k12019.' £68kl from the whollv owned subsidiary undertakSn& Abingdon school Enterprises ￿mIted. At the balance sheet date. the subsidiary owed the School £124k12019= £148kl. 21. ANANCIAL INSTRUMENTS 2020 2019 Carying amount of flnancial assets Financial a55ets at falr value throu8h inc(Mne or ex4>enditure 'L2a5 1.271 Page 37