2021-08-31-accounts

CHARITY NO.. COMPANY REGI￿RATION NO.. 1071298 3625063 ABINGDON ABINGDON SOIOOL Report and Ac¢ounts forthe year ended 31 AiIGUST 2021 •AAJW1RN4* 1611212021 COMPANIES HOUSE A07

ABINGDON SCHOOI INTRODVCTION TO THE REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Contents Introduclic Structure, ￿ernance and ManageM￿t Obje¢ airns, obieeti¥es and athities Capital developments and resè¥ves Investmeni p)wets ar￿ poliry PU￿1t Benefit Streamlined Energy and Cathi Reporti￿ ISECRI Equality Art Disabled persons Section 172 Ststement 13 15 15 15 Ststement of Directo￿. Respo1￿1￿lItieS Consolidated Statement of Financial ArtMth5 lincorpoTrting income and expendituwE account) School and Consolidated 8alance Sheets 16 21 22 Consolidated Statement of Cash flo 23 Notes to the Finanoal Statements 24-39

ABINGDON SCHOOL INTrODucnoN TO THE REPORT AND Accouf4TS FOR THE YEAR ENDED 31 AUGUST 2021 Introduthon Go¥Èrntsrs, Direckn￿ Offltersand Athisws The Board of Governor5 of Abl￿don Sthool is app(Mnted in 3ccordancÈ with the tenr& and conditions laid dowri in the Schools Memorandum and Artides of Assooathm incorpLwated on 2 September 1998 as amended ift Marth 2{￿?5 and ￿Uary 2017. The Govemors who ser¥ed in the yearwere ￿ fdl(rs'. Miehad Stevens Damian Tracev Penny Chapman Mark LaS￿lIeS Robbie 8arr Jonathan Carmll Glynne Butt Steven Sensecall Harriet Woollard Kate Wheeler Michaél Fèrwell Chaiman Vice Chaimian n5Ys H05pitolofAb#Jg Tom Aylin8 Ilje Merce￿. COM￿ny, lon Robert Jardine-8rvn Matthew Tatt (resigned Il" Dtc•mber20201 The OldAbirydonii7n Club Ken Welby All Abingdon khool Governots were reeistered wth Crynpanies House a5 Directors of C￿PaTrY. Michael Wi)dsor Craig Williams Justin Ho(es Headmaster. Ablryd￿ Sthooj Headmaster. Abirydon Preparatwy Schoc4 Di￿(torof Finance & operati￿$. Comparw Secrethryand aerk to ihe'Governors Pa8e I

ABINGDON SCHOOL INTrODUCTION TO THE REPORT AMD ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 Advlsffs Bankers National WestmirL5ter Bank Pk 11 Maret Pla￿, Abiredory Oxfordshire OX14 3HH Solicitors Harris¢x) Clath Rickerbys Ellenborough House. Wdlin8ton Street, Cwtenham, GLSO IYD Auditors RSM UKAuditLLP Dawdson House. Square. Reading RGI 3EU InvestmntAd¥ise Rathbones Finsburyfjrcu5. Lond￿ EC2M 7 AZ Insurance Broker5 Marsh IrGurdntÈ Brokets Ltd Cawtsl Hwse. 1-5 Perrymount Road. Hayward5 Heath. West ￿SSeX RH16 3SY Addres Abingdon School Park Road, AbIn8dc￿. Oxfordshire OX14 IDE IRe8tstered office and mailin8 addr￿5) Abirvddon Preparatw School Josca's How. Frilford. Abl￿don. OAfordshire OX13 5NX Reference & Admlrfstratht InfomatiDn The Senior school IAbin8donl and the junior sthool Wbin8don Preparatory Sthodl are he￿after ￿ferred to as 'Abingdon School. or the 'School' and are registered v•ith both Companies House and the (harity Commission as Abingdon khool. In this report where SF)eL7fic reference to either school s ne￿Sary the senior sthool 15 referred to as'Abin8don' and the juniorsthool as'Abir8don Prepara1￿. Abingdon 15 knwn to have existed in 12%. It was rtrendrhved in 1563 by John AD￿se. a London Mercer. It moved to its preseni site in 1870. In September 1998 Abin8don combined with Atsn8don PreparatorySch¢)ol lat that time known as Josc3'51. formirg a new Registered Charity (No. 10712981 and a tompany limited by 8uarantee (No. 3625LK)31. whith was incorporated on 2 Septtynber 1998. The Compary, Abin8don School, 15 governed by its Memorandum and Artbdes 0fAsX￿1ati0n. The School has cP)sen in %tordante Companies Att XK6. s. 414C(111 to set out in the group's strategi port information required by Large and Medium-sized Companies and Groups IAccounts and Reports) Regulations 21J08. Sth. 7 to be contsined in the ￿l￿tt(¥s. repyt. It has done so in ￿Pect of P￿IlIC benefit and energy and (arbon ￿pOrtIre. Strurturè. Go￿￿rnan￿ and Mamgement Thesthool Governors. asthe Director5 ofthe Charity. are legaltyre5PCffi5ible forthe ovwall managèment ofthe sthool and for its strategicdirection. G¢wemor5 benefit from prèsentations by staff and by third-party Èxperts, and from fac&t(>f￿ meetiry wth stsff. puw.ls and parents in order to deepen their knowledge ol the sthool and of issues of current importante. The G￿eMor$ We￿ assisted in undertaking thtir respmsibilities during the year by four Go¥emrys' s￿￿cOMmittee5. namdy the Education Cornmittee. Finance C(ynmittee. the Audit Risk & Compliante Committee. and the Remuneration & Nominations Commtttee. In particular. the Remuneration & Nominati¢)rs Committee rtwews the rmuneration of the Sen￿r Leadership Team with reference to benchmarks and sertof I￿nds. The Headmaster is re5pon5ibleto the Chairnan andtothe Governor5 forthe management ofthe 5th001. which the Headmaster achieves with the support of the Director of Finance and Operations. the Second Master, the Headmaster of Abingdon Preparatory 5thts￿ and member5 of the Senior LeadershipTeams atAbingdon School and AEM'nedon Preparatory School. Pa8e 2

ABINGDON SCHOOL IP4TRODUCnON TO THE REPORT AND ACCOLINTS FOR THE YEAR ENDED 31 AUGVST 2021 The Governws and Senior Leadership Team5 recognise the impwtance of engaKement with employee5 and stskeholders to the ongryrg SUCCV•S ol the 5cho(A. Engnsultation Committee. and ￿gular 5urvtys of stsff. E￿a8￿Ment with other stskeholders also takes many forn￿ induding pa￿nts, evenings and webinar5. parents, associations an artNe alwnni dub and a student council. The Govemws a￿ aware of the Charity Gry4emance Code and belI￿e that Abir¥don Sthcd appl¢e5. in all material respects, all seven of the prinoptes and recoMm￿ded prartice for8ood gcwernance containtd in the Code. In addition. the School 15 re8i5tere(6 with the Fundrai5in8 Regulator. Recruitmentond TrniffiryoA6orfernrys The appointrnentofGovernor5 isconfimied at meetuy of the Full G￿ernIng Board on the ba5rs of nomination5 reteived to the Board's speofications concemin8 eli8ibility. personal ttmpetence. specialist skills availability- NewGovemoYs are inducted into thewothngs OfAbIngd￿ and of the(harity, indudin8 its strate8y. policie5 and procedures, at indurt1￿ meetiw organi5ed by the Clerk to the G¢)vernors. On-goin8 Governor training is carried out through seminar5 0￿dn￿ed natlonalty or a￿anged internally. 11 Govemor5 incur training Costs, Abin8don offers to reimbuyse these. Abingdon School has a wholly ¢ywned noTrthawitablesubsidiary, Atsn8don School Enterprises timited. ObJe¢L alrnoblecll¥e5and artiTAOes Chprttubleoblert The Chariils objects, as set out in its Artides of are: to a￿anCe. for the P￿111C benefi( the education of thildren and young people not older than the age of nineteen years at Abiredon or such other 5th(￿ as the G(￿mOr5 may from tirne to time determine. and to promote ft*r the benefit of the pupls of AbinKdon School the inhabttsnts of the surroJndin8 area the provision of facilities fw ￿￿ea￿on w other leisure ts.me ocojpation of indNiduals who have need of suth fatilities by reason of th•r youth. age. infirmity or disablemenL finantial hardship or sooal and etonomicorcumstsnces or forthe pU￿1t at Lloe in the interests ofsooal welfare and with the obiett of improving the conditson of the life of said inhabitants. Though proud of its considerable successes. Abingdon enfftw a down-to-earth almL￿Phere that stems from being a sthool that kn0V￿ itsdf well. tloes not seek to be what it is notand eschews theflashy. the false and the arrogant. There ss a constant eye on innowatioTr to reflett the needs of a rapOtythn8irvd wodd but the school is also carefvl not to dispense the traditional where iried and tested practice proves still to be the most effertive. While Abingdon is certainly a(ademICal￿ sdertNe and ¥i8tyoUs￿1 promotes the life of the mind. a￿deMiC athievement is farfrom bein8 the sde criterion wther forentry or forsuC￿5 whilst at the school. The th01￿ of title for our formidable exira-curricular pro8ramme- the Other Half- symbdses the impLYtance to the school of nurturin8 well-rounded boys and our bdief that the de4eIopm￿t of their sktNs and tharnrters 15 Of equal importancewith their academrc pro8ress and athi￿ements. We offer exceptional facilities but rectydnise that the success of Abingdon Sehod rests upon the quality of our statt. so we rettuit afio aèvÈlop hiEhty qu31mLYI ttlleil¥i1￿S u(dlvElS¥ Ldl¥iilJ aiid Sii-oirf commitment. We volue our powerful links wih the wider community and nourish them through artive and effective partne￿hipS,. this indutles ￿r commitment to keepin8 access to an Abin8don eduCatiL￿ as wide as possible. Underpinnin8 all that the school tloes s a rernalkab￿ Stro￿ pastoral sistem. The fv￿e arnl tutor strurtUTe anchors dayboys and boarders alike with a p￿erful sense of belon8in8 and ensures they are known indi¥idually and feel genuinely and pe￿(￿alty suppcKted by a rar4ge of people in theirioumeyt(ward5 adulthood." Pa8e 3

ABINGDON SCHOOL REPORT OF THE DIREcroiis FOR THE YEAR ENDED 31 AUGvsf 2011 STRATEGJC REPORT FIMnclulRebvew Thetotal incorne fortheyearcomprised£27I26k12020: £26.fA14kl frL¥n schoc4 feesandantillaryincomè. £SOlk 12020.. £452kl from tharitable donations and £593k12020.. £830kl from other artivities. Expenditu￿ on school operating costs %￿S £26.761k12020.. £25.284kl ofwhith 61% LF represented by staff tosts. The total funds a5 at 3118121 nounted to £61.958k13118120.. £(￿,196k1. ofwhith £48,748k1É47,¢YJ4kl is unrestrirted funds. As an educational charity. the Sdtod has tax eX￿p￿or￿ on its edvcational artivibes and its irv￿stMent income and is entitled w an 80% redyrtion on busine55 rales on the properbes octypied for tharitable purposes. The financial benefits derNed from these tax exempti￿$ are all ap￿led ts edu(ional purposes. induding the provision of bursaries. Abingdon School is not able to redabm VAT input tsx M its costsas it ts exemptforVAT purposes. The Governrys congder both the level d actNTrty and the year-wd financial p9sitt￿ of Abiredon Sthool to be satisfadory. RIsMonogement The 8oard of Govemots is resw)sible for putting in ￿ate a strategy to manage the risks f￿d by the sthool. whith they review aThnual￿. The Govemors. Audit Risk & Com ￿lance Committee pr(wides inrseased focus on thi5 important a￿a and wews the fisk re8iSter tenmty. G￿￿rtOrS oversee the Headmaster and the Senior Leadership Team who exetutf4e responsibilrty for Identifyi￿ WJ5e55inB and contrdling risk. The kev business risks for Abl￿dON intlude retainin8 pupil nlwmbe￿. thild protertion. Icr. and welfare and academi standards as well as etternal factors suth as Covid and tharyes to the p￿￿"(31 environment and the Teachets. Pension Scheme. Controls and safeguards whith are put in ￿ate to manage the major risks i￿jUde approFNiate levels of insurance Cover,. tems of ￿fe￿nCefQrall the Govemc¥s' sutrktommittees-strategicplannin& bu¢etin and management accounting- formal vffltten pdities.. dear authorisation and approval I￿elS- strirt adherence tosaferrecnjitrnent procedure5 in orderto protect sch¢)ol pupils." completion of appropriate risk a55e55mentsc relevant aspects of the school's aul￿ts,. and disaster plannir%. The Sthool'5 Health antl Safety committee supports the suitable mana8nknts of health and safety risks and seeks to ensure that appropriate risk assessments a￿ in pla￿. The Governor5 are of the opinion that they havè wt in place a strategy to Klentify and. where prarticable. mitl8ate the major risk5. It 15 reccgni5ed that while procw provffles ￿aSonable assuran￿ that identyfied risk5 a￿ being mitigated, r( cannot pr￿de absolute assurartt. ftésw￿e to Covid The start of the acadtmieyear in September 2020 saw the physical reoptning of both $th0o￿ in full. Inevitabty there were a large number of adjustments in Pla￿ folk)wing significant risk a5se5ynent work to reflert the ongryng pandemic Whibt itwa$8ood to see Sivdents back in classrocrfns and with thwrfriends. school life was still heavily impacted by Covid. Pre4fentatNe Measu￿ induded year group'bubbles. tominimise rni¥inE of year group5.' sooal d￿tanon8 where p055iWe." additional dinin8 faolities- extra deanin8 and hygiene emph35is- limits tovisitorswith pa￿nts. evenings and a&￿1$s1on5 events moved online.. inter-school fixtu￿ and events cantelled alon8 Wlth edLKational wsits and trips.. a55emblies and thapel seTrices also moved online.. and support staff continued to workfrom hwe whefe possible. In addition. internal contart traong wa5 Put in place to'track and trace. any oses of Cowd in the school community and arran8ements We￿ made to enable boarders to SW in sehod tluring haw tem if thry were unable to return home due to Intem3tional quaranLinè thallenges. The Schod continued to access the8￿ernMen￿$ furfough scheme whereappropriate. particularly forstaff invo in the School's subsidiary focused on leisu￿ antl sporting tt*mmeroal attr￿tIes. Academic prc£ress contynuedwth'mrAed modrf learnin8throu8hthe useof onllnetechnology 5uth as Zoom for some students that were unable to be present in scho(A and behind the scenes. teathers did their best in uncertsin CIr￿mStanCeS to pr￿Te students for publi¢ex&ims in s￿￿er 2021. Pa5toralty. s¥nificantemphasis Page 4

ABINGDON SCHOOL REPORT OF THE DIRECTOAS FOR THE YEAR ENDED 31 AUGUST 2021 remained on prowding as much extra svppL¥t as P055ibletO students and staff alike. EXaMp￿S included wular theck-ins by housemasters with tutorgroups to maintsinAbingdon's ethos of pastoral casevia its ht￿$ system.. personal risk 3sse55ments for staff who were dinically vulnerable.. online wdlbein8 seminars for students and farnilies; and regular'pulse checv survey5 of stsff to promotr feedback. Partnership activiiie5 alsoadapted with thE ¢reatNe use of online events to sharegood lotal sthools. january 2021 saw a new national I￿(￿•￿ and the physical dOSu￿ (rf schools at the ¥ery stsrt of term. The School rapidly retumed to the way of worknng in the national Ickdtr•m in the prewous year with teaching and extrn<urricular acliwties moved online and the rdaunth of dubs to support the children of key workers. Academically. the requirements for Teather Assessed Grades for the summerfs public wrrs becoming dearer for teachers and students alike. Similar to &Jmmer tem) 2020. fee d￿cOUnts of varyin8 amounts depending on year group and daylboarding stztU5. were offered to all familie5 in recognftion of thereduced c05t base of theschool and the changein offeringduring Lentterm 2021. Where parents needed additional distounts ortimeto pay thesewere considered on a case-by<ase. means-te5ted basis. In eath Marth 202L when sthooLs were able to physically reopen. there w35 a150 3 si8nificant Operati￿ to roll-out the governrnenvs requirtd lateral flow testing wime in sthods. Jmmerterm 2021 C￿tinUed to be disrupted by Covbd Iwt at least sthods nationallycould be physically opeTh. Abingdon ￿tUrned to the way of working that it had devdoped in Michaelmas Term with the usÈ ol 'bubbles' and other prvlentative measures. Academscalty. the focus for the public exam yeargroups wa5 on the required gathering of evidence and intemal discussions to ersure a riBL￿oU5 process tletem)inin8 Teather Assessed Grade5. The govemors remain grateful to the Senior Leadership Team and the whole stsff body for thor responseto the pandemicand ensuring that the Schod has continued to operate efftttNety during a difficult period. Covid, and pandemics generally, a￿ considered a reputational risk to the School gNen the potential tmpact on the school's ￿puta￿On if the Sthool does not put in Pla￿ suffioent measures to ensu￿ thesafety of the 5th001 communityand the C￿tInuitY of qualityeducationfcff all pupi15 in differentscenarios indudin8 learnin8 insthool and online. The School manage5 ths riskthrough comprehensNe riskas5es5ments and related acticfis- providin8 additional resources- extra meetings 7fvrith govemots.. investin8 in trainin&" and extensive comrnunicatitins with all members ofthe sthool community. The ¢)verall aim being to ertsU￿the safetyof the5th001 community and the continuity of qualityedycation in all foreseeable orcuMstan￿. In addition to the reputational risk arisi￿ from Covid there is a financk41 risK è.& the impact ¢)n pupil number5 and therefore the SthLX)I's finances if parents. and potential pa￿nts. finanw a￿ adversety Ferted by Covid. The khool manage5 th￿ risk by prudent finanuaj forecasti￿ and prv4idirg athJitKJnal fIn￿(la1 support for families who need it as a reS￿t of CO￿￿. Abin8don is a boardin8 and day sthod whith provides education to bojs between the a8es of 11 and 19. Abin8don Preparatory priNides education for pupils between 4 and 13 Yea￿ of a8t The ara8e number of pupils in the sthools durin8 the academic year 202012021 was 103812020.. 10441 for AbirEd￿ and 24S12020: 2531 for Abin8doTr p￿paratory. DtThand for ￿aCeS is hgh allowir* for ((¥Mp￿hensrWe plannin8 for future Improvements and de4elopmen AcodernicResults Publit ex3ms in Summer 2021 were cancdled by the 8thEmment (A¥in8 to the LL?rohaVINS epidemlc. In pldL Dfpublicexarns. exam centre5 were asked to pro4ideTeatherAsswed Grade51TAGsl totheexam board5. These TAGS were wuired to ￿flect the achiev£x))ent in eath subject that ea(h student hèd shown they had reached during the course. In cases where students cwld rea50nabty be seen to be on the borderline between two grades, schools were encouraged to KNe them the 'benefit of the dcwbt.. meaning that the national grade inllation seen ynderthe 2020 CAG system wa5 dearfy expetted to Increase. Theye was a QualtyAssurance IQAI Page 5

ABINGDQN SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGVST 2021 pro￿5 in place to attempt to ensure that sthods did noi stray too extravagantly beyond their historical model of results. All schools were subjetl to scffte compulsoryQAwith some then beingsubjected to a second process if theirgrades were not felt to have been justy"f￿. Abrngdon's TAGS were all accepted exartty as they had been submitted to the Exam Boards li.e. Abingdon passe(l the initial QA process and wa5 ngt Subje￿ io the follow-up Pro￿$$). Underthe TAG system in 2021. atA Level. 80.2% of grade5 were in the A" to A rnNde12020.. 71.5%) and 94% at A to B12020.. 90.5%). At G(5& 49.4% of8rades were awarded at 8r3de912020.. 44.2%). with 91.1% in the 9-7 range12020.. 88%). 99S% were in the 94 range12020.. 99.7%). Gmnt-moknng ￿lleY The Governors are committed to broailenin8 access to Abin8don Schod by offering means-tested bursaries to pupi15 whose parentslguardians are unable to pay the lull day fee5. All bur5awies are rnean5-t￿ted annually and have a value ol up to IOLI% ot the dayfee5. Pupils must meet the Sthod5' usual entrante criteria but need not ne￿ssarIlY show excepttonal abilty. Abin8don offers an encffmous breadth of opportunity and bursarie5 are aimed ai those who will take fvll advantage of all the Sthool hès to offer. During the par 6412020-. 591 pupils benefited from Bur5arie5 at a totsl c05t of £888k12020.. £7cfJkl. Of thtse. 16 1202Q. 121 were lOO% bursarie5. Abin8don Sthool has a rar8e gf 5d￿larShIpS and award5 offered to pupils enterin8 the School. Schglarships and awards are provided in recognition of exceptional academi4 mu5iQ art and de5¥n. drama ￿ sporting ability.. they cary kudos and priwle8es wthin the schl￿1. Scholarships (arry a nominal financial value of £300, and 186 12020.. 1911 were awarded during theyear. All SChda￿h1PS ahd bur53ries are subiect to satisfactory acadÈmit wogre5s and bthawtyjr. and in the case of scholarships and awards. to a continued (ontribution to the discipli￿ for whKh they We￿ 8ranted. Each case is assessed on its own merits and awards are made accordin8ty. subjea to the Schods. ability to lund these vAthin the context of its overall budgets. Plonslorlutweperfods To consolidaie its Posltion 35 theschool of d￿1￿. the broad aims of the Sthool are.. To develop its positK>nasl￿e oftheleadiTra independertschoolsin Britsin.with a reputstKJn fLYexcellent aeademit. sportin8 aThY cultural achievements. To entourage in eath pupil. the development of tharatter and the mary skills thLy will need to flourish at school and beyond. To maintain and extend the trndition of attesSI￿"1ity to pupils of high abil￿, whatever th•retonomicor sooal ba¢k8round. partiojlady through stholarship and bursary sthemes. Town recognition as a ttntrt of txtslltntt in edutational prèrtice and io tontinueto attract htgh quality staff. To maintain and invest in its fxilrtie5 tosupwt iisAims aThJ Ethos stat￿￿L Tg seek and Ulilise extya sources of funding. To promote awareness of the Sthwl in the ￿￿MUnIty and raise the sthod's profile in the re8ion bv hosting conferen￿, sportin8 events and other out￿ath and partnersh4J acb¥ities. To be enwronmentalty responsible and promote sustainability. To be a sertor leader in equality. dfversoty and i1￿u$l￿ matters. The 5eniorleader5hip team and 8(Nernors expect to Use the yearendirvd 31 Au8iL4t 2022 to re￿eW plans fLY future pericxls and create an updated fv&year Foundation Development Plan. Pa8e 6

ABINGDON SC+IOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2021 Capltal d•¥dopmèhts and reser¥es The last decade has seen sgnificant caixtal de4elopments atAbingdon Sthoolwith substantial in¥estrnent inthe UP8rade and modemtsation of faolr(ies. These de¥dopments have induded a new Scierce Centre and Sixth Fomi Centrt a5 well as improved fatilities for Art. Mu51¢ Drama. the ￿brary. Sport. houser0￿$. BLsiness Studies. Economics and Computer Studie5. These d￿elOpments have happened alt￿E51de extensivÈ reFU￿1$hMent ofthe Sthod. Future a￿a5 ot opital de¥dopment a￿ foojsed on the bgarding accommodation with planning consent receNed this yearthat will enable the significant rnoderni5ation of two boardin8 h￿55. At Abingdon Preparat￿y. the siÉniftcznt investment of ￿ent years is continving eonstnJttion underway ftx a new Music Schod antl Des*n and Technoltw departmert as well as four additional cla55rooms and refvrbishment and expansion of the sthool library. Note 13 to the finanoal statements sets out an anzly5is of the Sthool's endowment. restricted and unrestrirted funds and their attributab￿ 355ets. These a55ets are suff￿entl0 meet the tharity's obli8aiions. The Governors re8ularly revie￿ the finance5. budgets and the spending against trHJdgets as pwt of theeffertive stewardship of the Charity. In mrnm￿ with other independeni schwls. Abingdon Sch¢)ol has invested substantrdl sums into new sthod buildings in recent year5. and opèrates a continuin8 programme of refurbishment. development and investment to maintain excdlent teachMi& welfare and boardin8 faolities for its pupil5. At the end of the financial year the totsl of group ￿elveS st{￿1 at £61,958k I￿20.. £￿,]96k) of which £48.748k12020.. £47.094kl was in unrestricted funds. It is the Sthool'5 policy to build up fund5 to meet planned improvements and additions to the Schod's resourtes prinopalty by means of annual operating surpluses and therefore the Govemors have not set a tsr8et le¥el of free reserves. The Governors are of the view that the 8roup has adequate working cawtal for its foreSeea￿e fequirementsgiven the predictability of cash flowarising from pupil ro115. theongoin8demand for plates atthe Sthool and theavailabilty of banki￿ finan￿tOwardS the tost of capital expenditure. In¥estmeM powers pDIIc¥ The Governor5 areauthorised bythe Memorandvm ofAssotiation and bythe TnJsteeAct 2(J)Oto invest monies not immediately ￿Uired f¢x the sthods, pvrpo5es. or Whe￿ there 15 a speufic obl18at1￿ to invest funds to Comp￿ with the temis of a ￿tricted donation. in securities. property or other investments as may be thought fit. Strategic investment policy is set by the Governors and the Sthool then works wtih Aathlx)nes, the School's investment mana8er4 who then manaeethe investments within pre5uibed 8uiddine5 on a disuetionary ba51S. The investment objectyve is to protert the real value of the capi￿1 whilsr generati￿ income a view to produong annual 8rwth of a rate at least equNalent to the Increase in the SchocA's tuiti￿ fees. The Governors remain confident that their investmo)t pdicy is prudent and liketyto produce attractNe returrs ￿erthe lorÉÈr The Sthool's listed investments in￿sed from £1.235k in 2020 to£l.479k in 2021 follcrwing an un￿aliSed gain ot£173k12020= E4lkl on retained investments. Ihe tiovèrnors will totitifiueroKeep all inveSTMen￿ underc105e revlew. Pzge 7

ABINGCK)N SCHOOL REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 31 AUGUST 2021 Pybllc lenefit In settingtheschool's objecbvesand plannirv8 its acti￿ts, the dirertor5 of Abiredon Schod. a5 tharitytrustees, comply with theirduty in 5.17 ofthe Charitie5Art 2011 to have dueregard tothe Charitycommssion's published general 8uidance ￿￿rnin8 the operation ofthe public benefit requirement. Abingdon School has a long history of sUPPQrting the education ol young Peop￿ acr055 the town of Abingd and in 2018-19 developed Abl￿d0￿ in Partnersfvp IA&"Pl in tyder to coordu)ate aftd develiJp its partnership 3ctivitie5. A&P has three key aims.. forAbin8don Sthool to build ￿ the pogtive role it play5 in the locall0mm￿Ity For students and staff to rolla1￿r￿¢ effertNdyand positivdy with member5 of thè lotal tommunity. ForstudÈnts and staff tostretth aThJ d4llèrye themsefves collaboration. The following sections focus on the work that was undertaken in 2020121 in supwt of these three aims. Communi Bursarles: The G¢)vemors of Abin8don Sthod are committed to broadenin8 access to the School. The Sthe endeavours to pr(vide an education to those pupiLs who will best benefit from the Sty￿ of teachin8 and the facilitie5 thatwe have tooffer. Inethitably. not all parents of suth pupiLs will pos5e5S themeans tolund thescho fee5 that ihe School necessarily has to tha￿e. The Sthod pThides means tested bursarie5 to help address this thallenge. Ouring thè ￿ar 64 pupils btnefited from butsaries at a total cost of £888k In addition to this direct assistance with fee5. the Schwl a150 sub5idi5e5 antillary txptnses suth as $th(￿)I trips where pa￿￿t$ would otherwise experience financial hardship. 1nfcmlati￿ aljout bursaries is made available to all those aPp￿n8 to the School. The G¢)vemots make sure that the availability of these awards is well publiosed through advertisin8 and when visits are made to local primarysthools. In addit￿}n, detaiL% of how toappty are made available on the khool'5website. Additional resources for bursaries is an increasing driver of fundraising attwities. For example. a successful Gr¥in¥ Day to rai5efunds for bursaries wa5 held thi5 year. Mental Heath and Wellbeiry: As part of the Schoofs commitment to rnÈntal health and wellbein& webinars were delivered this year lor parents and famtlies in 5choo& zcr05s Oxfordshire and beyond. induding'Emotional Wellbein8 For You & Your FamiV1178 attendees) and'Mana8irE The Mind In Uncertain Tim￿.1237 attendees). A p￿entatIOn on mana8ir stress was also delweted to 120 year 11 students at Fittharrys School,. as was a workshop on cO￿ent for 140 year 9 students at St Helen & St Katharine Sthsjol. For Children's Ment31 Health Week. recorded a55emblies were madeavailabletothe schools within theOX14 Learning Partnership and 3 local prirnary5chools. The charity. .1 Can & i Am.. founded by Jame5 Shone. wsited John Mason Sthool and Thtrharrys School in thè 5ummwtÈrm. wthine many students on self-esteem and buildine a growth mindset. As part oftheSchool'5 Relationshipsand Sex Edutation proErnmea seriesofw0￿sh0￿ on pubert¥w￿ delivered across 4 primary schools, reathiTr8 201 thildren in total. Di8ltal todkits on 'RSE for Parents,. 'Retum to SchoG4' and'Arger Mana8vnenY have also been (￿ated and shared wth 15 5th0015 rounty. Comblned Cadet For￿. The School contingent parades as Part of ￿ A￿￿emI￿anCe town parade whilst the Contin8ent Commander seryes as a marber of the QAfordshire Lord lieutenant's Cadet Selertion Panel and as a memberoftheOxford5hireJ¢4nt kniiceyouth and Cadets Committee. Thecadets and staff took part in a tharity ent and raised over £3,6(Kl. The Cont1Nd￿t Ccmmander and SSI assisted other CCF ￿ntI￿gents, induding CEP schools, and local ACF units. Lotal ATC and ACF units used the sth￿r$ faolibes, iNludin8 its flight simulator, at no cost to support th•r xtivities. Cornmunity serv1￿. The Sthod's programme ofvisits was not able to run due to regulations. However. the Schod kept in contatt with the places tha¢ it usually visits by sendin8 the residents parcds with quitzes, letters and trH"scuits. Instead ofthe temilytea paty, thecatering department P￿pa￿d afternoon tea boxes whith were delivered to local care homes. It wa5 aLs0 PaS5ible to organtse all the Abl￿dOn H05Pital volunteer placements and papefwck in thesummerterm so that volunteer5 were ab￿ to start ¥isitin8 the Stroke ward in September 2021. Page 8

ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2021 ke of EdlthrKh Award: The Abingdon Sthod DofE cocKdinator is the thabr of the Abingdon Area Do committee. Regular rneeting5 prrwide a forurn for I￿1 youth group5. State and indepentlent 5thools that provide access to the scheme to meet and svpport one another. Last year students participating in the Do Award complete(l over 20CrfJ hours ofvolunttering in th•r local t￿￿MUnIty. This induded volunteèring in tharity shops. ¥￿iting the dder+y. coaching sports. runnin8 youth groupE and helpin8 to run communityorgani53tion and 0￿WaS Al Durirvd the 2020nl acadernic year the Abingdon Sthod ctynm¥nity raised £16.925 throu8h a wide range offundraising events. from h(mtrdothes days and quizzes to poc4 toumaments. Whole school e¥ents were limited by Co41&19 but students and staff enthu51a5tically took on individual events suth as climbingthe heightof Everestup theirstairs. MonLry rasedwas donated tocharitie5 Voted lorby students includin8 SSNAP. Agape. Oxlordshire Mind and The A&heimerfs Society. Students also donated tOV5 to the Abin8don CommunityT(ry Orive. and Lwer 250 toys were to supwjrt those less fortunate. Amey Theatre.. AbirEdon Sthod ha5 a 446 5eatfflc4lern theatre whKh regularty h05t5 events forthe community and lotal sthods at discounted or free rate5. Due to the o￿oI￿g pandernic in 2020121. the Amey Theatre was closed to members ofihe public foll¢Mng 8(AfemmentguNlan￿. Howertr, in l)ecember. theAmLyTheatre ran shorc Iwe screenin8 prc8ramme to indude The Nutcroc&tr. WorHtstse and slweral other popular titles. Frorn July. theArneYTheat￿ reopened for public useand hosted a IrKal prirnary sthod fry theirend of￿aT produttion at 100% discounted hire fee. Several kn(al dance and drama schools ￿ed the Amey Theatre through July and August, many ofwhithwefe raising moneyfor local tharities. Throu8hout202012L theAmeyTheatrecontinued to advertise and promote access to online arts from national venues such as the National Theato. Royal Shakespeare Company and more local verujes 5uth as Peg35U5 and the Oxlord Playhouse. TIl￿eV Park and 5wts Cenirt: In September 2014. Ab1nEdC￿ Sch¢)I took the lease C+f a substantial track and field facility in the north of Abinzdon called filsley Park The site has three 5-a-side football pilthe5. two fyll size aStrTrturfhc￿ey pitches, a full size artifioal pitth for rugby. football and American football as well as a 7-a- side football pitth that is a1sosu1ta￿e ru8bytrainin8. These faolities are re8ularfy ￿nted to local community dubs and schoo15. fiL%ley Park SuP￿rts annual Spts￿ day5 for lot815th001s free of tharge. Further community ust included.. free fatility hire fortrD partnership groups that run sports e4ents for local schools- 35 community dubs re8ularty using Tilslty Park for trainin8 andlor competitNe mat(hes' alorkg with hosting the Abingdon Marathonfor a substantia1fyd￿c￿JntedIee. In2021,fi1sl￿ Park became a hub forthesport ofAmerican Football with arrnngements set up with the Oxford Sainty Oxford Unr¥er5ity Lantrr5 and Oxford Brooke5 UnNetsity Panthers. Schools and other tharitie5 are also offered z discount when booknng outsidè of thai sports day. The Sthool's Sport5 Centre also runs an exten5Ne prc%ramme of activitie5 forthecommunity. induding the Abin8don Swm Sthool.. the Abingdon and Leisure dub with accw to faolitie5 and exeruse dasses.. as well as courses. camps and acadtThies. The Schod also wots closely with Oxfordshire Cricket to provide a re8ular winter trainin8 base. Generil P￿¥11¢ and comrnuth woBran¥nek the khod. throu8h its Abirygdgn scien￿ Partnership attivitie5, plays a cnjcial role in ooanising and hosti￿ manyevents duringthe town's annualATOM FestNal of Science and Tethnology. This year. due to Covid. a novd hybrid fe5tNal induded an eleetronit scienee treasure trail around the town des%nefJ and implemented bytsvo Abirgdon students. In èdditityl. a new partnership was established with the Oundle. Peterborough and East Northants IOPENI Le3min8 Partnershipthat devdoped online resources for partner schoc4s throu8hout the pandemic Collaljorawon Abingdon School is aware of thè unique position it hdds both wthin the loral edLttational landscape and vrithin broader national pirture of sthool prthfision. To this end the School has wOfKéd hard ro ser up and develuv partnerships with ILKal schods which continue to grow and thriveauoss academic and uoss-ojrriculaf settin85. Abingdon Schod in Partnership ¢A&PI encompa5se5 all areo of Partne￿hIP at Abingdon School. includin8 the Abingdon Science Partnership which has been running since 2014. The airn 15 to help stsff and students at Abirgdon collaboratewith. and leam from othetswithin, the kKal educational comfflunity. Page 9

ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2021 Impqrt.. 2020ni saw twer 55CXI student'e¥periences' within A&P Istudent Experiences is calwlated as number of students x number of attivities run x number of hours partakert inl. Non Partnership Abir8don Staff put in over3W hours ofadditionol timeto run Partne(shipacrMties. Partnership artMtie5 irwow 27 Prbmarykhcd5. 13 Secondary Schools and many other institsjtions in the lo¢al and wder community- Abl￿dOn khool In PartrwsNp: er the past five year5, ASiP ha5 gone frLXn Strn8th to strength. worknn8 Wlth sthods in the a￿a. Buildin8 on these relationships, the main focus for 2020121 wa5 to ueate a rn0￿ fomial. mutually beneficial and imparttul partnership forthe young people. staff and Pa￿nts ofthe a￿a. OX14 le￿1￿ Pdrtnernhlw Abiredon has bnwht ￿ether local s(hocA leaders to discuss how a collaborative, partnership apploach tould help delwer key pritsrities as wdl as supporting futhef partnership aims. Cornrnon themes were those of raising aswratiors. widening OpP￿tunitieS and reuproaty. This yearfs distussions have led to a Memorandum of Undersiandin8 outlin1￿$ the details of the partnership as wdl as 8Mn8 real clarity of the CO￿ aims. The OX14 Leamin8 Partnership (named after the Ic￿1 aw's p05tcodel la￿Ched in November 2021 and the website on beviewed at www.ox141 A￿leM{C Coathlne proyamme: the Sthcd has trained ow 50 Year 12 students from auoss the town in kev ommunication and leadership skills so that they may coach Year 9 and 10 students. Online coaching sessions helped ihose S￿dents who have fallen behind durin8 school dosure. helpin8 ueate positNe study habits and goal settin& 80% ofstudents f(wtuI the e¥Perien￿ worthwhile, rewardin8 and would recommend it to a peer. Peer Support Lead progranyne: ￿lIding CKI thesuccess of its cMn'in-hous¥ progrartNne the School has helped l+xal sthools work tO8etherto expand the Peer SuppNt Lead prcgramme. ther 50 Year 13 st￿￿ents from across the town took part in several training ses5iofG With a loojs on how to 5UPPOrt other5 With mental health is$L￿. They were then available in th￿r own schools to Pr￿Ide pastoral support to you￿¢￿ students. This pro8rJn is becoming increasingfy embedded w¥thin eath school's pastoral system. This year, muth of the mentorire took place online providin8 invaluablt pastThal tare forstudents who may have been feeli￿ is￿are{l due to Cowd. 'After Abin8dorf pro8ramme: In February 2021 over 20 students frrni partner sthools attwded the Sthool's online'AfterAbin8don' event where talks were8iven on the UCAS prO￿s, Gapyears, Oxbridgeand altematives to unNersity. In additiorn several member5 of Abingdon stsff offered Oxbridge UCAS SUPKK)rt and interview piattite to $￿eral students fr¢yn partnerschools. Prlmay S¢lK>ol tiawn: In-per50n cyrriculum mornily were not p05s1t￿ in 2020 to ￿ld. However. curriculum vide05 and packs were made and sent to primary schoo15 to support various curriculum area5. e4. English. MFL, Art and literacy. Art tyrriculum 5UPPQrt and lessons were 8iven bywdeo linkto Buckland and Lon8 Furfong priMarysCh￿l5. Arts partnersNp T￿. the annual sueenin8 of wwk ty Film Aodvny students fflorphed into three online $C￿en￿ng5 due to Cowid. These incOrp￿￿ed a dooJmentary by a Larkmead student who had teen a memberof the Film Academyforttvoye3r5. Work newfilms by Academystudents tontinuecl in this pèriod wth 3 partner school students. AnewinitiatNe¢alled theOxfvrdshireAcodemyolBroodcostJovrnolismwaslaunched byschool stsff and profe55ional 5POrts broadcaster5. It started with seven taster online wwkshops in p￿sentin& podca5tin8 and bloggin& for whith nearfy fifty students $4gned up and rJJkninated in a virtual showcase of students. wor. The launch of theAbtrngd.￿J ArtsForum sawaseriesotfikned interviewswith arts prart1ti0ne￿ indifferent fields with tht aim of bringing tcgtther alumni from Abingdon and partner sthLY)ls to c￿ate a bank of ￿ourCeS to infom and inspirestudents withan inte￿t in career5 in thearts. Thevideos werethen shared online with pupils, parents and staff auoss partner sthcJs. Pa8e 10

ABINGWN SCHOOL REPORT OF THE DIRECTORS FOR ThE YEAR ENDED 31 AUGUST 2021 Go¥ern•Ke: se¥￿teen members ot staff seNed as Gcwemors ol Ifxal maintained primwy and secondary schools or the local MAT, with 25% takingthe role of (hair. AbirEdon is happyto release collea8ues to cc¥nplete theirgovernance dutie5 when th05e crynmitments fall at times when the stsff would LLsually be in school as the SchocA understands the benefit for all parties. ub1￿. In May 2021. the library funded and administered a ￿rtUal author visit for 3C(I students plus their teachèrs and the librarian from Fitzharrys 5th￿1. Abin8dm. The librarian zlso contbnued to hdp spearhead a national initiative, be8un in February 2020, to pr¢ynote the8reater integration of 'infomation liternc( teathin8 inio the secondary scheol turritulum.. this initiative has attr3Cted support frun rngre than ISO organisations across the UK. O¥ef the course of 2020nL the librarian tontinued to menwr three new librarians at other secondary sthools, and supplied- on request- lesson plans and other resourtes supporbn8 read¥n8 for pleasure and ￿$earth skills to more than IW secondary sthools acr055 Eng￿nd. Wales and 5totlan¢S. Abl￿d￿rt Prtpin Partnenhip Partnerships atAbin8don Prep Schod IAPSI were a150 Ir￿vitablY limited by Covid. APS pupilsioined an initiatNe measurin8 airquality andcomparingand contra5tir¥athatwith otherprimary and secondary schods. Other iniliatives are bwng planned such as a business tha1￿￿e with local primary schoo15. 5POrts aftern¢)ons and art da￿. Staff continued their PEf50nal link5 primary School coordinators and shared 8ood prartice with the introdurtion ofwhole sthod Artdays around a theme at a partnership5th001. OT support continued and APSstsff worked to prwde restxjrw and equipmenttosthoobs. Challe A key aim of 6 to thallen8e Students and stsff thro￿ pHrtnw5hip5 and collaboration. All the activitie5 desttibed above are informed by this sense of thaller¢e and further examples are provided by the Abin8Jon sOen￿ Partnership IASPI. Abin8don's Yan8 Soence Centre indudes a large. flexible laboratory (the Galileo iaboratoryl dedicated for use by the Abin8don Soente Partnership. Abiredon has treated an extensive programmeof science partnw5hips. stabli5hing itselfas a national (entre of exCdIen￿ in this area. as indicated by its shortlisling for the TES Schcd5 A￿rd in the Comrnunity and Cdlaboration category in 2018 and 2019 and fortheTES lThJependent Schods Award in the Independ￿t-￿ate P¥thership (ate8¢vy in 2019. IMP￿.. In 2020ni ASP W0￿ed with 40 primary 5th001s and 9 secondary sthoob as wdl as 20 other or8anisations. 2.9C¥J ASP experiences l(4loJlaied by the number of attendees x number of hours x number of session51 were logged by primary antl secondary school students. adult5 attending ContiThJin8 Professional Development ICPDI events. and thegeneral PLtblTrL In total. 140Abir%don students were invow in ASP events during the year. Students in sthools: ASP worked wth primaryand secondarysthods au055 all key 5taEe5 during the year. The hi8hlysuccessful British ScienceAsswialion CRESTStarAward stheme5 continued to run butwith a modified format where ASP provided all the resour￿ and schools ran the aaNities themselves. Two sthools took part with 84 Year 2 pupils gainin8 awards. Primary So"ence Oub tofttinued to be suceessful even when Abingdon students could only connect ￿th ILOI primary pupils rernotely. Abingdon students collectwety¥olunteered 480 he4Jr5 creatin8 res0W￿ and actNitits to t￿age l(al pupils with sfEM. Over 20 secondary students Irom 2 local schools engagtd in weeklyGCSE Astrorwjrnysessions ddivered byASP. One Student from Jthn Mason Sthool adwe4ed GCSE LThTel 9 in tre summer 2021 assessments. Abingdon suc￿sSfUllY bid for STEfrA fundin8 from The Mercers. Company to wtxkwith 3 local secondarysthods to mitygatethe impacts of the pandanicon STEM learnirg to rnisetortffider￿e in STEM, to broaden st￿lents. kn¢)wledge of sfEM careets. This tunding was ￿ed to.. Recruit dedicated ScienCStudySupp￿tAS￿startS2.sdayS PErweekateach ofthe3 partnerstcondary schools Partner Study H¢her. a Ictsl partnership of hehtr and further tdutation instttutions to prwde menlorin& an or6oir8 programme of studysknlls suppcrt. and eXperien￿dayS. Page 11

ABINGDON SCHOOL REPORTOF THE DIREcfoRS FOR ThE YEAR E140E0 31 AUGUST 2021 DelNÈr a ftyJr4ay series of Ctsnfideno in STEM wcYksh¢)ps invofvin8 fil pupi15 fr¢rn the partner S￿￿dary schools in en8ineering and practical science skills artNities atAbin8don and Witney Colle8e and in the Yan8 sOen￿ Centse at Abin8don hcd. Pupils worked in dasses of seven or fewer with 5ubjert specialist teathets andwith apparatus foreath indNidual whith allowed them to c￿p1eteGr5E prattical tssks in Saen￿ subjects. TeKherf contlnulry wolessional dthlDpnrt (CPDI. The ASP Lead thairs the science coordinators. 8fOUP of ILKal schools, organisin8 and htzting three twilight CPD sessions per annm). Abingdon a150 hosts CFO sessions for the Omfordshire Soence Leamin8 Partnership. pro¥iding a Venue for their trainers to delNer prartical soence workshops; as well as a speofic'A4evd Physi(s for ScIen￿Te(hnloanS. course delNered by School staff. wolk1￿ with national orwisation& A number of students from local schoc4s we tskire part in a research project on airpdlution supported bythe Iloyal Societyof Chemistryin cdlaboration vesearth partners from the University of Chile and the Erwironmental Chemistry Group of the Royal Scoety of Chemt5try- Presentations on the project were gwi by staff and students at three. national. 5aentifit t￿feren￿5. Lihks with'Schc*S5Togetherf continued withtheDrectry of Partnerships atAbingdonthairin8the8roup'5 events committee. AINn8don hosted a webinar p￿Senting partnership (ase studies about h¢)wto ￿pOnd to the Covid pandemic throu8h partnerships. This Èvent was well received with ￿￿60 attendees from across the C￿Intry. Page 12

ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2021 5trèamIl￿d Enèrgyand Cart)n Reptyli￿15ECltI As part of the obligations set out underthe Enerly and Carbon Report Regulation5 2018. th• Sthool is required to disdose the ener8y consumed and ¢arbon dioxide ueated as an organisation over the last reportyn8 year starting on or after April 2019. To fvifil this we have measured ¢yJr UK ener8y and greenhouse 8as Émissions a5 da55ified within scope l and 2 whith are presented in table l. In addition we have indvded ourscopE 3 emissions related to business travel in employee tmned vehides Whe￿ the sthool r&mburses the mileage and fuel allowance. Table 2 contabns the con¥ttsion fattors used in the calculation of these figures. c￿￿paratIVe fi8ures usin8 historical conversion fartors have been indyded for prsoryear5 and our base reportin8 year. fganlsatlonal and OpèratA)nal Boyndarlesof tht Sthool. The d(s havea complex company strutture and therelore accounts for 100 percent of the ereenhouse gas IGHGI emission5 from operat10115 over whith it has control. indudin8 the trading subsidièry. Its Stwe￿ra1 and operathtinal b￿ndarieS a￿ the same with the operating from four sites". Abingdon School. Park Road. Abin8don Abingdon Preparatory Jostas HtyJst. Kireston Road. Frilfo rilsley Part Dunmwe Road, Abiryd Boathouse. Wilsham Road, Abin8don The School operaies a fleet of sixteen minibust5 for tht purK)se of pupil transportation as as a number of ground5 and other mad vehi&s used in the operdtion and maintermnte of its sites. MethodobAy. The method(1108y used fordetermining energy and (arbon emissions within this section olthe report uses frrm a number of sourtes of ereenhouse emissions.. Natural Bas ￿ed for heaDng the buildints we ot￿pY3nd forhotwatrrlSt¢pe 11 Fuel C{￿sUmption in companytmned vehides fry business use (Scope 11 Electricity used for lightirl ￿￿lIn& air mnditioning and point of use water heater5 (Scope 21 Mileage from ￿1Mbur5ed daims for business Lse in stsff owned vehides Ikope 31 Ga5 ond eleclrioty consumption figure5 have been tsken frorn in¥ty￿S and su￿rneter readin85 a5 appropriate. Where the readin8s[Invoices do not ttrier a full year, we have estimated the tonsumption forthe lull year based on the average consumption perday in the period. Fuel crnsumption for tompany owned vehicles is measured from fuel cards used by stsff when in control of business owne(l ¥Èhides. Mileage from reimbursed claim5 frorn st311 ha5 been calojlated using the standard rate of 45p permil Fof a base year the School has set thefinanoal ￿ar September2017 toAu8U5t 2018 as the ea1iest period for which reliable dats is availaWe forthe sourtes above. We therefo￿ bndude figu￿ forthe financial year Septernbw 2018 toAugust 2019 Iyear 11 and September 2019 toAugLtst 2020 IYear2135 a cornpari50n takire into account the continuin8 efferts of COVID-19 ￿ thefinancial yEarSeptember2020 toAuB￿t 2021 (Year 31 whith affected the levels of activity at all sites. Intensity ratios normali5e emissions data with an appropTrate business rnetric orfinancial indicator. This allows a comparison of energy effioency ptrformanct tr4ertime and wth othersimilar typts oftrganisation. We have thosen to measure our overall emissions pera¥era8e annual pupil nwnber in each ￿porting¥eara5 well a5 our annual turnover I£lOO,C￿0S). Page 13

ABINGOON SCHOOL REPORTOF THE DIRECTORS FOR THE YEAR ENDEO JI AUGUST 2021 Enery Consumpt10￿ Greenhousè Ga5 Ernl551on5 ￿ Inten51ty RalAos rable l.. GHG emirsit>fts and erttt9y wefvr yetr. t&￿￿￿50n repxtirtg bose reyting yeoTS. Current. ' re￿￿ing year. 202￿2021 Comparfson,, Comparison, Base rep(rting year reporting year,, repothng yea 2019.2020 2018-2019 2017-2018 Gas com1￿￿tiOn kwh (Scope 11 Transport school vehiclt5 Ittrts Istope 11 Transport kvlh (Scope 11 usin8 conversion factors from mile5litres to kwh Elertricity kWh1Scope 21 Trnnsport miles (Scope 31 Transport kWh15cope 31 usin8 conversion factor5 frorn mileslitres to kwh Totsl consumption Ikwhl Emissions from ttfflbusth.on of gas k4C02è (Scope 11 Emissions from ccqnbustion of fud for transport purposes k8C02e Iscope 11 Emissions from purthased electrioty k8C02e Iscope 21 Emissions from business travel in employee owned vehicles, where the School ￿1MbUr5ed mileage daims k8C02e (Scope 31 5.33L%I 4.973.8J8 16.587 5.201.434 5,172,946 25,401 16.56 27.468 173.13 173.576 287.682 265..920 1.781.83 1.734.575 2.202.719 2.150.598 11370 24.483 21.303 12.650 6,894,8)9 28.145 7,719,981 24,979 7,614.443 7,291544 976.EO 914,534 956.284 951,615 41.571 70,IC 65,351 37&33 563.015 608.770 1.37 3.136 6.978 6,193 •• Total 8rosS tC02e based on above Average annual pupil number Intensity Ratso.- tC02e 8r055 fi8ure/average annual puyl nurnber Turnover £100,0￿5 Additional Intènsity Ratio.. tC02tgross rigurel£lOO.DJOs turnover 49.0 Source.. Go5 ondelertficty5upplierinvoKes, reoding5.fvel cordinvgices. stoff mileo9e claims. L397 1,596 1.278 1.632 1,297 1,272 28.9 27.8 29.6 28.3 54.0 57.7 Activty Gaseous Fuels Unit "Year '_kWh k8C02e 0.18316 Natural gas quid Fuds Diesel (average biotuel blend) quid Fvels Petrd laver4e biofuel b7￿￿) Transp Average car. unknown fuel UK elertrioty Elertricity generated kwh 2021 0.21233 Source." UK GovernftentGHG Conversitsry Fortor5for ComponyReportiffj. 2021. BEIS. kwh 2021 lit 2021 10.607 2.51233 litves 2021 9.545 2.19352 miles 2021 1.1217 0.27596 Page 14

ABINGDON SCHOOL REPORTOF THE DIREcro FOR THE YEAR ENDED 31 AUGUST 2021 Ener￿ Eif4¢iency Artions. In recent years. actions ha induded rofi-out of LED lightin8 in the Amey Theatre and Prep Schod hallways. ihe installation of solar panels on Maintenan￿ buildin8s and modernisin8 control 5V5terns for heatin& ventilati¢)n and air crKxlitiWbn& EcTrCunmittee5 are also inrre35ingty active. Thi5 yeor Saw the completion of a maiorenergy 5avin8 project with the instalkntion of 152 solar pane15 on the Sports Centre roof. Thi5 is of particular note as the Sports Centre is the School's hi8he5t energy consuming building. In addition. the lighting in the dining hall has also been e¢nverted to LED lightlnE whith will help reduce energy con5UrnPtion in this busy part ofthe Sthool. The modemisatbvn ol the Sthool's minibu5 fleet has also continued with the replacement of c4dervehides for newer ones that can use theAdblue additive whith converts hamiful NOX gas￿ into nitrogen and water. We ￿Main committed. hOw￿er. to fvrther reducin8 cwr Carts￿ Footprint and improving (wr Environmental Sustsinability- In parbcular. the ft>ll¢Jwir Measure$a￿ planned.. Installation of more solar paneb e.8. cffi buildings 5uth as boardin8 accommodation. 2. Er￿Ul1￿8 sustainability measures are ful￿ embedded in thedesi8n of neweapital de¥elopments 3. Continuation of IED I￿hting Roll tyJt e_g. atfilslty Park. Upgrade modemisation of boi￿r5 and related plant room5 e.z. in theAmeyTheatre bth1dI￿. Plantin8 of biodi¥er5e areas e.& 20 wildllower habitats a￿ planned around the Sthool. Equallty Art Abin8don School cOrnpl￿ with the Equality Art 2010 and is C￿mItted to pro￿din8 equal opportunities in employment. The Sthool's poliaes seek to avoid unlawful discrimination in all aspects of employment induding recfuitmeni, promotion, oppwtyniiies fortrainif% payand benefits, disopline and selection for rthndancy. DlsablÈd pèrsons The School wll employ disabled persons when they appear to be the most Sultsb￿ candidate frjr a pèrticular vacancy and every effort is madt to ensure theyzregiven lull and fairtonsideration when such vacanci& arise. During employmeni the Sthool seek5 toworkwithempl¢)yees. takire intoatcount their pwsonal t1rturnstarn￿. to ensure appropriate trainin8, dthlopment and advancement opportLM)rtie5 are available to enable them to reach their fktll potential. Setth>n in statemÈnt This seetion is in response to a ￿p¢￿ing requirernentto eXp￿In h¢)w the Gtr4emors. a5 Oirertor5 ¢fthe tharity. have had regard to broader Stakeholder interests when perfomiing thetr duties under section 172 of the compani￿ Art 2crJ6. It is intended to act as a'si8nposV to the rdevant areas ofthe Gtyfemors. and not to repeat the discussion in other5ections of the ￿Porl The Govemors understand the importance of maintsining productive relationships with all stakehdders. They do this in manyways, indudingas described in our sertion on Public Benefit Ipage 81 and Empbyee involvement Ipa8e 31. The addition thisyearon page 13 ofan En￿and Carbon section dernon5tTrte5theGovemor5' regard tothe role the Charity play5 in dimate than8e. OurAtm5 and Ethos Statement on 3 guides the lon8-tenn decision making of Governors the sertion on pa8e4 explains the decisions tsken this yearin the inte￿ts of all theChariVs stskeholders in response to Covid. The commentary. starting on page 5. that dis(usss <wJr atademlt results. Bftnt-maki￿ pdicy. plans for futkre prie4Js and tapital dtvtlopments hetP5 explaintheGovemor5' foojson the pnynotion and5uccessof thecharity forthe wpi15 at Abingdon. both currently and in thefvture. Fjnalty. the sett￿n on StTUCture. Governance and Management starting on page 2 undedine5 the f¢xus of tht Governor5 running thecharrty effectwely aftd tohh stsn¢Jards forthe benefitof all its stakehoJtSws. Page 15

ABINGDON SOIOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2021 Statementof Dlrertorf RespoNybis Thedirector5are re5ponsiblefor preparirotheDirettor< Reportand the finantial statements ) accordancewith applicable law and regulations. Ccfflpany law requi￿ the director5 to Prepa￿ finantial statements for eath financial year in acttrdante with United Kingdom Generally Attepted Actounting Practice Iunited Kin8dom Accounting Standards) and applicable law. Under cornpany law the dirertors must not approve the finanaal Statements unfe5S they are sisfied that theygive a true and fair of the state of affairs of the charity and the group and of the surplus ordeficit of thegrovp forthat ptriod. In preparing these linanoal S￿t￿Ments, the dirertors a￿ required to-. select suitsble accountin8 Oioes and then applythem consistentlr. obser¥e the meth(￿5 and wrKiFle5 in the Chartties SORP: make judgernents and accounting estimates thatare reasonable and prudenL state whether applioble UK Accountin8 Stsndards have been followed. subjert to any material departu￿ disdosed and explained in the finantial statements. prepa￿ the financial statements on the going concem basts unless it ts inappropriate to presume that Charitable companyw711 continue Hi business. The direttors are responsible for ensuring that adequate attounting records a￿ mainiained that are sufficient tosh¢)w and explain the tharivs andthe group'stransactions and disdose reasOnab￿a￿Urèryat anytime the finantial position of the thartty and the group and enable them t¢ ensure that the finanual statements comply with the Companies Art 20(%. They are also ￿Sponsible for safeguarding the a$5ets of the tharity and the eroup and Éfouring thwr proper application in actordarKe with tharity law. and hen￿f0rtsking reasonable steps fr￿the prevent)n and detection of fra￿￿ and other irwularities. Eath of the persons vtho are ￿1￿ctorS at the tsmewhen this diretttys. report is approved has confirmed that. 50 far as that eath dirertor is awar¢ there is no relv4ant audrfc information of whith the tharitable cornpany and the Group's auditor is unaware- and each director has taken all the 5tep5 that D￿ht to have been taken a5 a dirertor in order to be aware of anyinformation needed by the tharitablec¢¥mpanyand the GrLWP'S auditors in connecrion with preparin8 their ￿port aNI to establish that the tharItab￿ company and the Grtyjp's auditor is aware of that inlomiation. Audltor A re501utM)n to reappoint RSM UX Audit LLP as auditor for the ensu1￿ year ryll be proptyed at a forthcomin8 Governor5 meeting. The Aeport of the Directors and inmrpoTrted Str8ic Reportwere appr(F4ed by the Board on 1st i)ecember 2021. MICHAELsfEVENS Chaimian of Govemors DAM1￿4 TRACEY VI￿ Chairman ofGtyvnors Page 16

ABINGDON SCHOOL INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ABINGDON SCHOOL FOR THE YEAR ENDED 31 AUGUST 2021 INDEPENDENT AUDtroRS REPORTTOTHE MEMBERS OFABII4GDtr4 S¢TrKX)L Oplnion We have audited the finanoal statth)ents of Abibydon Sthod lthe 'Pa￿nt charitable compantll and its sub5idsarie5 Ithe'8roup'l for the year ended 31 August 2021 which uThprise consolidated statement of finanoal activities, theschool and consojidated baIan￿$heets. thetonsdKlated statement of cash flgws and note5 tothe financial statements. includin8 S￿nificant accounbn8 policies. The finanoal ￿portir8 framework that has been applied in their preparation is applicable law and United Kin8dom Acrounting Stsndard5. induding FRS 102 Ihe Finanoal Reporting Standard applioble in the UK and Republitof IrdanLf (United Kingdom Generally A￿pte(s Accountin8 Practi￿1. In our opinion the financial statements.. gTrve a true and fairwew of the state ofthe gnxy'5 and the parenttharitable companls affairs as at 31 Au&L￿t 2021 and ol the group's incoming re50vr¢es and application of reS￿r￿. induding its income and expenditure. for the year then ended- have been properly prepared in accordance with Llnited ￿r￿￿orn Generalty Atcepted Actounting Practice.. and have been prepared in accordan￿ ¥￿th tht requirements of the Companies Act 2(￿6. Baslsfor 0Onlon Wè condurted our au(lit in accordano International Standards ￿ Auditin8 IUKI IISA5 IUKII and applicable law. Ourresporsibilities underthosestandards are furtherde5cribed in theAudttorf5 ￿￿on$1b111tles fortheaudit of the finanaal statements secti¢)n of our ￿pOrt. We are independent of the gr￿p and parent charitable company in accordancewith the ethical requirements that a￿ ￿l￿ant to ￿r audit of the financial statements in the UK, indudin8 the FRCS Ethical Stsndard and we have fulfilled our other ethiral responsibilitie5 In accordan￿ with these requirements. We beliewe that the audit Érylden￿ we have obtained is sufficient and appropriate to provide a basis for Our oFMnion. condu￿on$ rnlatingto tolTrz<oKern In auditing the finantial statements. we h￿￿ conduded that the tru5tee5' Use of the I￿ng concem basis of accountin8 in the p￿paratiOn of the finanoal statements is apwopriate. 8ased on the work we have perfomed. we hale not identified any material uncèrtainties relatin8 to events or conditions that. indi￿dUal￿ or cdlectivdy. may cast significant doubt on the group's or parent tharitable companrfs ability to continue as a 80in8 concern ftx a pÉYod of at least Thvelve months from when the financial Statements are authorised fw issue. Our re5pon5ibilities and the respm5ibilit￿s of the tnstee5 ￿ respert to g￿n8 c¢M￿rn are desu1b￿ in the relevant sertt¢)ns of thi5 reporL Other InfomatloTh The other infonnation comprise5 tht infomation induded in the Report and Accounts other than the finanoal statements and our auditorfs report thereon. The trustees are ￿p￿SlI￿e for the other inlormation contait)ed within the Report and Accounts. Our opinion on the finanoal staternents not c￿er the other infomation and, except to the exlent otherwise explititty stated in our report we do not express any form of assuran tondusion thereon. Our responsibility is to read the other infomation and, in doing 50. consider whether the other infomation is materially incon51Stent with the financial statements or our knowled8e ob￿l￿e￿ in the course of the audit or othenA*ise appears to be materially misstated. If we identifysuch material inconsistenoes or appa￿Tht material Page 17

ABINGDON SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ABINGOON SCHOOL FOR THE YEAR ENDED 31 AUGUST 2021 m1sstat￿ents. we a￿ requi￿ to detemine whetherthis 8ives risetoa material mi55tstement in the financial ststements themselves. If. based on the work we have perfomied, we conclude that there is a material misstatement ofthis other infomTration. we are required to report thatfatt. We have nothin8 to rewyt in ths re8ard. Oplnlonsonother rnatters prÈSCrib￿ by thè CompanitsAtt2(rf16 In our opinion. based on the work undertaken in the tr￿￿e ofthe audit.. the information 8Nen in the Oirertors. Report. whith indudes the Oirertors, Report and the Strategi Report prepared for the purp￿e$ of company law. for the finanaal year for whith the financial statements are prepared 15 consistent with thefinanaal 5tatements- and the Directors. Report aftd the Strategic Report indudedwrthin theDkrert(Ys' Rewt have been ￿pared in aceordance with applicab￿ legal requirÉments. Matters t)n whl¢h we e required to reN>rt by eMop11on In the Irdht of the knthvledge and understanding of the 8r¢xJp and the pa￿nt tharitsble cornpary and their environmentobtained inthe courseof the audit, we have notidentified material misststements in the DirettDrs' Repwt orthe Strate8ic Report induded within the Directws. Re We have r￿thIng to report in respect of the follwin8 matters where the Crynpanie5 Art 2C06 requirÈs us to report toyou if, in our opinion.. adequate aCcO￿tIng rect￿ have not been kept by the parent tharitable company or returns dequate forour audit have not been received from branche5 notvisited by u5: or the parent tharitable company financial ststements are Mt in ¥eement the accountin8 re￿r￿S d returns.. or tertain disdosures of trusiees. remuneration specified bylaw are not made: or we have not ￿e1ved all the information and explanaticffi5 we require ftsrt￿r audit Rèsponsibilitie5 Ot tnslee5 As explained more ful￿ in the Ststernentof OirectOf5' resp￿sIt￿lItIeS Set out on page 16. thetrustees Iwho are also the director5 of tht tharitable tomparty for the purposes of company lawl a￿ ￿ponSIble for the preparation of the finanaal staternents and for bein8 5atsfied that thty give a true and fairview, and for suth intefnal control as the truste￿ determine is ne￿saryt9enabI¢ the preparation of financial 5taternentsthatare free from material rni5ststement. whether dueto fraud or error. In p￿paring the finantial ststements, the Dtrectoys a￿ ￿ponSible fty assessin8 the 8roup's and Pa￿nt tharitable cornpanvs ability to continue as a going concern. di5d05in& a5 applicable. mattèrs related to going concern and using the going concern basis of accounting unle$5 the tn&stee5 either intend to liquidztethe 8ri)up or parenttharitable company orto cease operations, or have no realistic altematNe but to do so. Audltorfsre4>onstbilili•slorthe thellnamlal ststemènts Ourobjectives are to obtain reasonable assuran￿ about whether the finanoal statements as a whole are f￿e from material MsSta￿Ment, whether dueto fraud or error. and to issue an audttorfs ￿pOrt that indudes o opinion. Reasonable assurance is a high level of assuran￿. but is not a gyaranteethat an audit conducted in accordan￿ with IUS IUKI ￿11 ahmays detect a material misststementvthen it exists. Misstatements can arise from fraud or error and a￿ ton5idered material if. Ind￿ldUal￿ or in the aggregate. th£y could reasonabty be expected to influence the economic dtcisions of usets taken on the basis ol thesè finantial statements. Page 18

ABINGtK)N SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ABINGDON SCHOOL FOR THE YEAR ENDED 31 AUGVST 2021 The e¥tenl lo which the autht was ¢onslduedopableol detertlwA kreRul¥llles. IrKlwdlr¥ fraud Irre8ul3ritie5 are instances of non-compliance with lawsand wulations. Theobiettives of ourauditare toobtain sufficient appropriate audit evidence regardin8 Complian￿ with laws and re8ulation5 that have a dirett effect on the determination of material amounts and disdosures in the finanoal ststements. to perfom audit protèdures to hdp identify instan05 of non-compliance with other la￿ and regulatioTL4 that may have rnaterial effect on the financial statements. and to ￿pOnd apprvpriatdy to identified or suspected rth- complian￿With laws and regulatiL￿$ identified during audiL In relation to fraud. the objectNes of our aL411ta￿ to identify and assesstherisk of material misstatement of the financial statements due tofraud. to obtain suffitient appropriate audit twdert￿ ￿ardIng the asstssed risks of material msstatement due tolraud throu8h de5¥ning and implementing appropriate re5ponse5 and to respond appropriately to fraud or susperted fraud identifd duri￿ the audit However. it is the primary re5Pry55ibtlity of managemenL with the ry￿￿51ght of tlh)se tharged with Bovernan￿. to ensure that the entivs operations are condurted in accordance with the provisio￿ of laws and re8ulat￿)nS and fortht pr+￿ntI￿ and detedion of fraud. In identifw'ng and a55e5sin8 ri$1s of material misstatement in respect of irregularities. indudin8 fraud, the 8roup audit ery838erner¥t te￿.. obtaine(l an understanding of the ThatU￿ of the settty, induding the lega and re8ulatory frdmewcks that the group and parent tharitable company operate in and hry the group and parent tharitable Company a￿ complying with the legal and regulatory frameworks- inquired of managemenL and those tharBed with govemance. alxwt their identifiration and assessment of the risks of irregularities. indudsng any known actual. Suspected or alle8ed instances of fraud.. discuss￿matters3tsC#Jt nort-compliance with zndregulztions and hofravd might ocwr ￿d￿dif a55e55ment of how and where the finanoal ststements may be suswtilAe to fraud. A5 8 resuk of these procedures. we consider the most siznifKant laws and regulations that hwe a dI￿rt impart on the finanoal statements are FRS 102. Charities SORP IFRS 1021. Compafis Act 2¢))6, Charitie5 Act 2011. the parent charitable companrfs g(Wern1￿ document. tax legislation and Charities IProtection and Soaal Investment) Act 2016. We pertorn)ed audit prcKedures to detert non¥trnancewhetherthe tharitsble company is in Complian￿ with these law5 and re8ulations and ir6pected correspondence with regulatory authorities. The group audit en8a8ement team identified the risk of managwnent override of controls as the area Whe￿the ffinanaal statementswere mostsusceptible tomaterial misstatement duetofraud. Audit procedu￿$ performed indvded but were not limited to testing manual Jwrnai èrttnes 3nd orher adj￿[111￿111S, evdludliiix LIIE ￿511}e rationale in relaticffl to any si8nificanL unusual tran53ction5 and transacti￿5 entered into outside the nomial course of bu5ines5. Page 19

ABINGOON SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ABINGDON SCHOOL FOR THE YEAR ENDED 31 AUGUST 2021 A further de5CriPtion of our re5ponsibilitie5 for the audit of the financial ststÈments ts pr￿ttled on the Finanoal Reporting Councifs website at h auditors This description forms part of r auditorfs report. Use ofow report This rèport is made solefy to the tharitable companrfs M￿bers. as a boty. in accordance with Chapter 3 of Part 16 01 the Companits Att 2(K16. Our audii work has been undertaken so that we mi8ht state to the charitable companls mernÈers those matters we a￿ ￿qUired to state to them in an auditorfs ￿pOrt and for no other purp05t. Tothe fullestextent permitted ￿ law. wed0n0tac￿pt01 as5umt Fesponsibilitytoanyoneother than the tharitable company and the tharitsble ￿mpan(S mernbers ￿ a body, fwour audit for this ￿POrt or for the opinions we have fomed. Gfiuafjkgk KERRY GALLAGHER Isenior Statutory Auditor) For and on behalfof RSM UKAUDIT LLP. StatutwAudf(or Chartered A¢¢o¥ntants Davidson House Forbury Square Reading RG13EU Date 10 December2021 Pa8e 20

ABINGDON SCHOOL FINANaAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Consolldated 5Mementof A￿a￿lJI orml￿rat1￿ ir￿rne experkne accou￿) Note Uwe5tricted Restrlrted Endowed Fund5 Funts Fund5 £'o)o 2021 T¢)tal Fynd5 2020 Total Funds £'coo INCOME AND ENOOWMfl4TS FIIOM: Charitable 3ctNlties= Schod fees Ancillary income Earned from charitable aclivit 26313 26227 24030 1.774 26,604 27.912 27*26 DonotlQll5 Tradin8 & lettin85 Investments TOTALINCOME 501 561 32 28.920 452 779 51 27187 561 4b 419 EXPENDITURE Expenditu￿ on charitsbleatti7dtbes: SchocA operating costs C05ts of rni5ing fun( 5a Sa 26J43 57 361 26.761 25.284 95 Other expenditure.. Trading & lettin85 tosts Finance costs 5a 451 15 26307 451 21 27332 850 17 26.246 TOTAL EXPENDITURE 57 NET INCOME BEFORE GAINSI ILOSSESI ON INVESTMENTS 1350) 1.642 ILossesl IGains on investments Transfe 9b 14 32 173 1411 1181 NET VKWEMENf IN FUND5 1286) 1.762 1,6 Balance brwght forward zt I September 2020 47x194 557 12,546 60,196 58,5% BALANCE CARRIED FORWARDat 31 August 2021 14 48.748 951 12260 61.958 60.196 All amounts relate to Continui￿ optration The notes to the finanoal ststements on ￿e5 24 to 39 fom) part otthese accounts. Page 21

ABINGI)014 SCHOOL F114ANaAI STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 School arKI Con5011dated Balance Sheets GROUP 2021 SCHOOL 2021 Notes 2020 2020 £'ooo FIXEDASSErs Tangible fixed assets Investment assets S9.603 1.23S 60.838 .736 IA79 58.215 59,522 1.235 60.757 1.479 CURRENT ASSETS Stotks Debtors Cash 26 21 23 1.436 9.419 10177 18 1.146 4.828 5.992 io 4.912 6.031 10,966 CRED￿OR&. Due within one year li 14,2261 14.6971 14,0641 NET CUIIIIENT ASSETS 1.805 6.181 1,929 TOTALASSETS LESS OJRRENT WIUTIES 64A29 62,643 64396 62,686 CREDITORS.. Due afterm(Yethan one year 12 12An) 12.4471 12A711 12.4471 TOTAL N￿￿55￿5 61?58 60.1% 61.925 60,239 END0￿￿D FUNDS 13 12259 12,546 12259 12.546 RESTrICTEO FUNDS 951 557 951 557 UNREsfR1￿ED FUNDS 13 48.748 47￿94 48,715 47.137 TOTAL FUNDS 14 60,1% 61J25 60,239 A5 permitted by 54C8 of the Cc4npanies Act 2(X6. the charitable company has not presented a separate Statement of ￿manti81 Artivities and Income and EX￿￿1t￿r Atcount. The tharitable companvs net income after expendtture was £1.687k12020.- £1.711kl. The financial statements were apwod ty the Bowd ofG￿¢M￿S ofAbingdon Sthool on 1st December2021. MICHAEL STF_IIFN% Ch￿rMan of GcNunors DAMIAN TRACEY ice Chaiman of Govemors The notes to thefinancizl ststements on ￿t$ 24 to 39 form part ofthe5e accounts. Pa8e22

ABINGDON SCHI)OL FINANOAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Consdidated Slatement otcash flow5 Notes 2021 £'tho 2020 NetushgeMratedfmmO￿iO 18 5,306 Irh¥estrnt atll7Alle' Payments fortan8ible fixe(l assets Pr(￿ed$ from sale of fixed assets Payments forfinancial investments Cash wthdrawn from investment porrfolio Bank interest receNed 19551 33 11401 93 16,2871 9b 9b 4b 28 12 19691 16.2471 rinanciNd artl¥itses: Bank charKe5 Net cash ats￿rtsed tr•finand￿ athl￿$ 1151 iioi iioi (Decreaselllwe•e in tash inthè y 4.no 19511 Cash and Cash equwalents at 15epttmber 4.912 Cash and Cash t￿¥￿nts al 31 Awst 9.632 4,912 The notes to thefinantial statements on pages 24to 39 fomi part Df these a¢Ltynts. Pa8e 23

ABINGDON SCHOOL FINANaAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 COMPANY UMITEO BY GUARANTEE The Sthool is a company limited by8uarantee, rt8Stered in England. and ￿ a Registered Charity. Eath Dirertorf5 liability would be limited to an amount not exteeding £10 in the event of the Sthod wndtn8 up. ACCOUNTING POUOES Accounti￿ Convention Thefinancial statements have been prepared in acc￿dan￿ wth Accounting and Reporting by Charitles.. Statement of Recommended Prartice applicable to charitie5 p￿paring their acwunts in acrnrdan￿ with the Financial Rèporting standard 3pplicable in the UK and Republit of I￿land IFRS102 effective l January 20191- Charities SORP IFRS 1021. the financial Aepoffjng Standard applitable in the UK and Republic of I￿land IFRS 1021 and the compan￿ Ati 2C)6 and under tr historic81 cost torNentiLffi modified to indude the revaluation of investments atfairvalue. In accordance with FRS 102 as a qualifyng entity. the *h¢)ol ha5 tsken ao%4antffje of the exemption fr¢ the following disclosure requirements=. Section 7 Ststernent of Cash FI￿S- Presentation of a dwrity only Staternent of Cash Aow and related notes disdosures. The finanoa15tatementsare Prepa￿ instedin& which ￿ thefunrtional thrreneyofthethariry. Monetary amounts in these financial statemeAts are rounded to the nea￿t £l.(KQ. Abintdon Schcd meets the d¢fir￿tIOn ofa public benefit entrty under FRS 102. The businw address ts Abl￿dOn Sthth￿, Pa￿ Road, Abin8don. Oxfordshire OX14 IDE. bl GOI￿ contsrn At thè time of approving the finana31 ststernents. the Director5 have a reasgnable expettation that the tharity and 8roup have adequaie resc￿r¢￿ to Contin￿ in opwational exi5tentr for the foreseeable futu￿. We have prepared a number ofscenarios that (onsider our cash position. of income and planned expendilure. This indudes the impatt of ct￿n8vIrUS on operations together with assumptions around recovery thereafter. These 5cenari05 consider reduced pupil numbers. reduced fee5 and potential bad debts 35 well as on msts from themea5ures taken sofar. SensitNityaround the5eassumpt¢on5 has aLso been considered in ourforecasting. Results of this osh flow and sensitwity anatysis indicate that the osh fesefves of the tharity are adequate to meet ihe thariVs obligations as they fall due. Thus the Director5 ￿￿tinue to adopt the 8Obng concem basi5 of accountin8 ￿ preparbng the financial Statements. 8aslsof ￿n$01[datIon Thec¢)nsolidated18rouplaccounts comprise thetharity and itswholly-owned subsidiaryAbiAgdon S(hool Enterpri5È5 bmittd. All intra-8roup transartions. baLintr5 and unrealiseO8ains on transactions be￿leen 8roup companie5 are eliminated on consolidati￿. A summary of the profit and 105s account for the subsidiary 1$ Shown in note 17. Aseparate Statement of FinawalActtvities and Inccrne and Expenditure account for ihe School r(self has not been presented in accordance with the exemptions afforded by Section 408 oftheC¢ympaniesArt 20C6. Thes￿0￿,3 incomewa5 £28.394kl2020". Q7,148kl. expenditu £26,815k12020 E25.395kl. and a gain on in¥esknehts of £l73K gr￿ng net inccvne of £1,687k 12020.. £1,711kl. d) Fees andSimil¥ Incoff Fees re￿•Vable and charges ft>r5eMces and u5È of premistt a￿ aCt￿rnted for in the period in whith the Service is pra￿ded. Fees reca¥a￿e are stated after deducting alliNances. schoLqrships and other remissio￿ allowed by the Sthool. Interest income is attr￿￿ on a time-apporbwed basi5. ￿ reference to the prinopal outstarKlin8 at the effective inte￿t rate. All incomewas generated in the UL Pa8e 24

ABINGOON SCHOOL ANANaAL ￿ATEmENTs FOR THE YEAR ENDED 31 AUGUST 2021 Don•tions Donations received for the 8eneral purposes of the khoots a￿ uedited to 'unre5tricted fund5. and are retognised when entitlement to the fund5 exists. recwpt 15 probable and the amount can be reliably measured. Oonations 5ubiert t05peofic wishes of the donors are carrted to relevant ￿$triCted funds or to endowed fvnds where the amwnt 15 required to be hdd a5 permanent capital. Empendlwre Expenditwe 15 recognised once there is a legal or constructive obligation to make a Pa￿￿ent to a third party. it is probable that settlement VMII be requi￿ and the amount of the obltgation can be measured reliably. Certain expendilure is apportioned to t05t categories based on the estimated amount attributable ttt that actrwty in the ￿ar. The Irrecoverab￿ element of VAT is included with the item of expense towhich it relates. Costs of rai5irq funds tomprise the tosts assotiated with attrattl￿ Vduntary income as wll as costs inojrred liaising with alumni. Charitable expenditure comprises those costs irthfftd by the tharity in the delNery of its actmties and services for its beneficiaries. It indudes both costs that on be allocated directly to such actNities and th95e costs of an indirert nature nece$53ry to support them. Governan￿ costs comprise the c￿t of running the charity. induding exiemal audi¢ GtY4emors le8al and constitution31 and ststutory cclnplian￿ costs. gl In¥estmnts Listed investments are carried at their mi&market value at the balance sheet date. Reali5ed gains arKI 10s5es on investments afft calculated as the drffferen￿ betsveen 531e proceeds and market value zt the siart of the year or subsequent costand are credited or charged to the 5taternent of financial activities in theyearoldisposal. Unrealised 8ains and losse5 represent the m(Nement in the marketvalues durin8 the year and a￿ C￿￿lted orchar8ed to the ststement of finanoal attiwties based on the market¥alue at the year end. Unlisted investments art held at COSL h) InTRstrnert IrKorne Income from these investsments is accountrd for on a recewable basts. Inte￿t is a(C￿nted for on an accwals basi St￿k is Valued at the lower of cost and net ￿lIsable val￿. Debtors Trade and ¢)ther debtt>r5 a￿ recr8ni5ed at settloxent amount after ary trade discount offered. Prepayments are valued at the amgunt prepatd net ofanytrade discounts du k) TahÉlble Flxed Assets Tangible assets a￿ stated at htstorical cost or valuation deP￿tiation. Items of £5,{￿ or le55 arè expensed in the year. Projects under construction are not depretiated. Depreuation is provided on a 5trai8ht-line basis as fdk74¥S.' 8ulldin8S 8enerally 25 years. in no more than 50 years Motor vehicle5 4 yEar5 Sports equipment 4yEars Fixtur&. Fitting5 and Equipment 4 to Ioyea The caryirvA values of fixed a55ets are ￿￿1¥￿ed for impaimient only when events indirate the carryln8 value may be impaired. Pogt 25

ABINGDON SCHOOL FINANaAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Cash at bank Cash at bank and cash in hand indudes cash and$￿)rtte￿n h¥htyliquid inve5tmentswith ashLYtmaturity of three moftth5 orless frryn thedate of a¢qusitI¢￿ or OPEning of the deposit orsimilarattount. Crethkn)rs abilities are ￿(OSnI5ed wthin the finanoal ststernents in respett of all expendtturèforwhith tht entitv has a measvrdble obligation. be it constructive or al, at the balan￿ sheet date. Finarfial irtruments The School aP￿leS the provisi￿$ of Settion Il'Ba￿t financial Instruments. of FRS 102. in full. to all of its rinanoal instruments. Financial assets and finanoal liabilities a￿ recc£niseLI when thesthool be￿rne5a pakTrtothecontractual prowsions of the instrumenL and are offset onty when theschool tyrrentfy ha5 a legallyenforceable rieht to set off the ￿￿nised amounts and intends esther t9 5ettJe on a net basis. ortts realise the asset and settlethe lia￿.1￿ siMul&￿e¢#￿1y. FinoncM71as%ets Basic finanoal assets which indude trade and other ￿c￿Vable5 and osh and bank balances, are initially measured at transattion price induding transaction costs and a￿ svbsequently carried at amortised cost usin8 the effertNe interest method. unl￿5 the arrangernent constitutes a finanon8 tra￿aCtiOn. where the transaction ￿ Measu￿ at tho present value of the future reoipts discount￿ at a market rate of interest Fin0nc￿l li0￿-litS Basic financial liabilities induding trade and othef creditors a￿ initially measured at transattion pric< unless the arrdngement constitutes a finanting tfansattion. where the debt instrument Is measured at the p￿Sent¥alUe of the luture reteipts distounted at a market rate of inte￿$t. Otherfinancial liabilities d355ified as fairvaluethrough profit or loss are measured atfairvalue and are subsequenvy ￿3$U￿d at amortised c05t. Perfjlon Costs The School operatss two types of pertsi￿ schemes for theiremployees. Teoching Stoff The School contr￿Jut& to the Ttathets. Pension [￿fined Benefits Stheme at rate5 set by thè Sthtme Artuary and advised to the Board bythe Scheme Administrator. The scheme is a multi-employer pension Scheme and rt is not possible to identify the assets and liabilities of the sthemewhich are attributable to the Sthool. In acCwdan￿ v•ith FAS102 therf0￿, the stheme is accounted for as a defined tontribution Non-TeothiThJ Stqffschen There are five different sthemes all of whith operate on a defined contribution basis. The pen510ft tost charged to the Statement of Fin3nazl Artivitie5 represents the nount of the contributions payable to the scheme in ￿Pertaf the accoJntin8 period. pl EM￿0ve* benefits The costs of employee benefits are ￿cCen￿ed as a liability and an expense, unless those Costs a required to be ￿08￿4$ed as part of the tost olstotk or fryed assets. The cost of any unffjed holiday entitlement 15 recoBnised in the wiod in which the employee's seNices re received. Temiination benefits are reco8ni5ed immediatety as an expense when the Sthool ￿ demonstrabty cornmitted to temiinate the emplownent of an employee or to provide temination benefits. Page 26

ABINGDON SCHOOL FINANaAL STATEMENTS FOR THE YEAR EP4DED 31 AUGUST2021 Assets obtained underhirepvrchasecontrdcts are rapitslised inthe baIan￿5heet. Those held under hire purthase contracts a￿ dep￿￿ated thtir estimated usefvl lives or the ￿se tsmi, whithever is shorter. Rentsls paid underoperating leasesaretharged to ststementof financial acti¥ttTres on astrai8htline basis over the period of the lease. nd attouhtii Restricted funds a￿ to be ￿￿ed for specified puryoses laKI down by the Expenditure for those purposes is thar8ed to the fvnd, ￿ether with a faira1l(tstl¢￿ of￿￿rheadS a￿1 support costs. Unrestricted funds are donations and other intrnI￿ receb¥ed or generated for expenditure on the general obiertives ofthe TnJst. End¢)wment funds consist of fixed asset donations wfve￿ the capital is held to provlde incorne for bursaries. The pvrposeto whith the5eas5ets maybeapplied is re5triaed in accordan￿ with the tern75 c the endowment trusL j￿Ments d kerf st)urw destimath)n wxertainty In the applicaiion of the thariVs accountin8 polioes. the Di￿￿Or5 are wiuired to make wd8ements. estimates and assumptions about the carrwn8 amount of a55ets and liabilities that a￿ not ￿adIlY apparent from other s￿r￿S. The estimate5 and associated assumption5 are based on historical experien￿ and other fartor5 that ￿ considered to be rdernnL Actual results may differ frtyn these estimates. The e5timate5 and underfwng a5sumption5 are re4fwed on an on80in8 basis. Revision5 to attounting estimate5 are rtYO8nised in the per￿d in whith the estimate is wsed t*there the revision affects on that period. orin the period of the relisionand futureperiodswhertthe rÈwsionaffects Ixjth current and future periods. The f¢Jlowin8 judgements have had the most sv&nifi(ant effert on amounts reco8nised in the financial statements.. Deprnciation ol t￿ble￿X•d assets TheGovernor5 exercisetheir judBernent in355es5in8 theexperted remainirrf usefvl life of theassets held. Page 27

ABINGCrf)N SCHOOL FINANaAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 SCHOOLS. FEES Feesreteivable ￿nSIst ofr. 2021 2020 £.(￿0 Gross tuition fees Less". Schdarships. Foundat*Jn Grants and commi￿£￿$ 27.750 16351 27.115 26,111 15711 2S.540 Less: 8ursaries fr(m unresvicted funds Less: 8ursaries restricted funds Totsi 8ursarie5 18021 86 16461 1641 17091 Netfe¢s re¢elYab 26227 24,830 OTHER INCOME al AntHlary Inrome 2021 2020 £'¢yJo CoathES. trips and other rethar8e5 Registration fees Retained/forfeited deprAit income Govemmentgrants Other ancillary income Total 1.097 121 121 223 36 1,599 1.124 124 128 360 39 1.774 In addition to the Government grants5hovffl ab(Y4e. the Sthod'5 tTrdin8 sutsidiary had Govemment 8rants in 2021 of £95k12020.. £80kl. bl InVestrne￿ IrKome 2021 2020 £'oJo Dividend5 receNed in investment portfdio Bank intefest recebved Totsl 31 40 12 51 31 cl Donatlons IKome 2021 2020 £,￿0 Restricted ljursaries Other restrirted donatior Unrestricted donations 88 147 217 452 76 501 Page 28

ABING[￿N SCHOOL FINANOAL STATEMENTS FOR THÉ YEAR ENDED 31 AUGUST 2021 EXPENDITURE Analys15 oli0￿eMp?nth￿e Staff rosts Other Costs T¢)tal iation 2011 £,￿0 Expenditure on th•ritablÈ aEti¥its&' Tèaching costs Wdfare P￿miseS Support Governance costs (note 71 Coaches, trips and other 13305 763 872 L445 I4￿93 2,067 6.702 2,132 27 2.135 3.695 24 1.053 16514 3.739 26.761 Trading and lettin8 Costs Fundraising costs Finance costs Inote 61 Totsl ex￿ndIt￿e 331 65 104 17 451 98 21 27332 21 6.667 . Indudes Iw on disposal of fixed assets Totsl sts 2020 Expendlture on dwrltsble aclhlts: Teaching costs Welfare Prernise5 Support Governante tosts Inote 71 Coathes. trips and other 12.6LfJ 744 855 1.536 128 13,928 1,925 6.024 2.206 32 1.169 25,284 3,466 669 29 I.CB3 5,857 86 Is￿34 3,593 OthereMperMllture: Trading and letting costs FU￿1raIsIng costs Fjnante costs (note 61 Totsl expendlDJre 389 439 26 17 6,338 23 850 95 17 26.246 16.292 3,616 ' Includes loss on disp(sal of fNd assets sUpp￿t Costs indude staff costs and other costs related to fflarketi￿ adverttsin& finance. H photocopying and otheradministTrtion wst& PaBe 29

ABINGDON SCHOOL Fif4ANQAi STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 EXPENDrruRE {C￿tinued) bl Net IrK(vnln8re50wces ¥estaled after th￿1￿. 2021 2020 Depreciation of tanBibk fixed assets Loss on Oispc6al of tangible fixed assets (Profit) frorn sale of fixed assets Operating lease5 3.756 3,616 1331 42 Auditor5, remuneration for audit Other prOfessi￿al fr(wi) auditfirm: Tax coMpl￿anCe 5ervi(e5 l)ther non-audit services 29 27 The abtwe costs intlude irretoverable VAT. Ernployer payyoll costs 2021 '(￿0 2020 £'ooo Wages and salaries al security Costs Pension contributions iYm6 1368 2399 16A63 12.444 1.289 2,278 16.010 The a¥erzgÈnumberof persons employtd trytht Groupand the crmpanyin theyearwas 37612020.. 3931. Of these 158 were teaching st3ff12020= 1591. In addition to the above there We￿ 3412020.. 491 musi sport and Enelish as a Forei8n La￿ul£e t&icht¥S. Neitherthe Director5 norper50ns connededwith them receNed any￿mYr￿at10n or other benefits from the Schools or any mnnetted organisation. The number of employees whose emoluments exceeded £60.CA)J wÈrÈ'. 2020 No. No. £60.OJi470.(rfJO £70.c¢jl-£80.￿J0 £80.ts)1&90,C#)O £90.ts)I4I￿,0C £iDJ.OOi-£iiO,C £110,001-£120,QX) £15O.001.£I￿,¢ £160,001-£170.Q)o £2￿,001.£21o,[ £210,CQI.£220.C 24 Pensioft eosts for stsff eaming overf 60.(KOwere £625k12020.. £5(X)kl. Thi5 relate5 to Oefined Contribution 5cheme5 for 5 stalf12020.. 51 and Defined Benefit schemes for40 staff12020.. 291. Pa8e

A8INGtKJN SCHOOL HPIANCIAL STATEMEP4T5 FOR THE YEAR ENDED 31 AUGUST 2021 EXPENDITURE Icontinuedl Key rnanagèment ptrsonnel IGroupar¥l S£knll The annual cost for the members ofstaff who are cor6idered to be kof management person￿1 lin addition to the governotsl wtte.. 2021 2020 £'tsJo 1.147 Key managernent personnel indudes the HeadmastW5 of Ats1￿￿0n School and Abiredon Prep SthcKJl, the Director of Finan￿ and Operations. and the Directorof Admi55ion5 and Marketing. It also indudes the Second Master. Deputy Head Arademic and Deputy Head P35toral atAbir*th 5th0￿. FINAKE COSTS 2021 2020 Bank thar8es Invtstrntnt man4er fees 15 io 21 17 GOVERNAN￿ COS15 2021 2020 AUdit0￿S remuneration Govemor administration ¢05ts Director eXp￿se$ and costs 24 26 27 32 Durln8 theyear l Director12020.. 31 was rtimbursed £105 R020: £2.0881 in respett of tfavd expenses. Page 31

ABINGDON SCHOOI HNANaAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 TANG18LE FIXED ASSEf5 a) Group Prohts Sports in Proyess E4￿1pMent M¢wes Motyr Vehtdes Total Building5 Eqwpmert Cos¢ At I September2020 Addition5 Transfers Disposals At 31 ALgUSt 2021 59.3 7.OS3 712 16.513 138 465 1871 17J)29 759 130 84.411 954 131 12081 85.154 5.370 15.8391 11211 64.744 712 DepreciatK>n At I September2020 Char8ed for the period Disposals At 31 A￿uSt2021 15,9L 2.227 637 33 7.696 S64 108 11211 552 24,805 3.756 12081 28.352 1871 18J34 670 Net Book Value At ai AL¥u￿ 2021 4610 8m3 217 56JOi At 31 A￿￿5t2020 43.466 7.053 75 8.818 195 59.6L b) School land in s￿rts r￿l￿re$ 08ress Eqwprnent fitlSngs & Equlpment Motor Vehicfe5 T￿al £'coo Co At I September 2020 Additions Transfers Di5posa15 At 31 Au8USt 2￿1 59.373 7.053 703 16.314 138 465 1871 759 130 84.202 954 131 121)81 84,945 5,370 15,8391 11211 64.744 703 Depreclatlon At I September2020 Charged for the period Disposals At 31 ALEUSt2021 15.9C 2.227 628 33 7,578 1.371 1871 8A62 564 24,678 3.739 12081 28209 11211 552 18.134 661 Net 8¢)okValwe At 31 2021 46*10 217 56.736 At 31 A￿uSt2020 43.4bb 1.053 75 8.736 195 59.525 The ab￿e assets are all used in the further3n￿of the (haritvs objects. Pa8e 32

ABINGDON SCHOOL FINANaAi STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 TANGIBLE FIXED A55Et5 I￿￿tInued) The net caftwn8 value of the sth0￿$ freehold land and build1r￿ of£46.610k12020.. £43,466kl are held at deemedtost based N avaluatifffi (arried out byGVA GrimlLylntemational Property Advisers in Au8USt 1999, who prepared Existirya Use Valuations on eath of the two Schools. zdopting a Depreiiated Replacement Cost basis for the Abil￿dorI 51teand tr*)athoLW. Thi5 gave rise to a revaluation reserve of £12.576k12020.. £11576kl. Had the land and buildings been inctuded in accounts at hbstorical cos( the net book value would have betn as follows.. 2021 2020 Cost Accumulated depreciation Historical net book value 52.165 {14.7931 373n 46.794 112.5661 34,228 The Owrlt¢s I￿eStMents are asfolkn￿. 2021 2020 Listed investment% at market value Cash awaiting rtrinvestmeni i.￿0 28 1.218 17 1.235 36 L462 17 1.479 Unlisted investments In¥e5tments The tarTringvalue ofAbingdon 5thod Enterprise5 Ltd is £1. bl The movement durin8 theyearon tnvestrnents and cash is shown below: UMe5tritted Réstrirtéd ￿lMartent ernlowrnert £.(￿0 Totsl At I September 2020 Additions Oividend5 received Cash withdrawn Cost of fvnd mana8ement Unrealised gain At 31 Awoust2021 325 15 227 125 1.235 140 32 1931 161 173 IA79 16 1161 161 82 758 1691 32 322 399 Pa8e 33

ABINGDON SCHOOL Hr4ANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2021 INVE5TMEKfs Icontsnuedl The historic cost of the investments lindudin8 (ashl is £1.257k 12020". £1,148kl. Induded in the investfflents a￿ ty4erseas investments a marketvalve of£229k12020= £281kl. In¥èstrMnt In sthldiy The inveStm￿t in Abin8Lkn Sthod Enterpwists Limr(ed rewesents I￿% of the share capital of that tompany.Thetompanyis registered inthe UK and operates a retail business. The resvlts of this entityare ton501idated into these financial statements. The investment in the subsidiary 15 eliminated on consolidation. The results ofthe subsidiary3￿ disdosed in Note 17. io. DEBTORS GRCKIP 2021 SCHOOL 2021 2020 £'(W E'(KlO 2020 Sundry debtws and prepayments Fee5 and extras Amounts due from sutrtsidiary 962 61 124 1,146 173 209 1.436 i.t89 ii. CREDITOAS: AWVNTS t)UE WITHIN ONE YEAR GROUP 2021 SCHOOL 2021 £'wo 2020 2020 £.￿0 Fees received in advance Trzde C￿ltorS Sundry ueditor5 and atcNals AC￿ptanCe deposits 1.553 ¥547 1.624 1.267 853 ijsa 1,624 1.258 702 481 1,152 452 4,697 452 4￿18 4.226 Sundrycredittys and accrua15 indudt £609k12020.. £466kl in ￿pect of aCcn￿￿ works lor¢apital proietts. 12. CREDITOAS.. AMOUNfs DUE IN MOAE TFLAN ONE YEAR GROUPANDSCHOOL 2021 2020 Acceptan￿ deposits ZJ71 2.447 Acteptance deposits represent deF)5its takèn att￿ time a pupil has been granted a place at the sthool and are relundable when the pupil finishes hi5 education at the 5thod. The depgsits are allocated to reditots owed in le55 or more than one year according to when the pupil is normaljy experted to leave the SthLXJ. Pa8e 34

ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 13. ALLOCArnN OF GROUP NEfASSEfS Totsl less total Ilabllitles 2021 PerniaTrpnt endawrnèrt Hammond legacy Land and buildings Expendable endownrt land and buildin85 Totsl Endowmentfvnds 758 758 9.326 9.326 2.175 li 2.175 12259 758 RÈstri¢t•dfvnd5 322 629 951 Urye5tr1cd funds 45235 399 48.715 Total Sthool 56.736 IN9 3.710 61925 Subsidiary reserves 65 1331 32 Total Group IA79 3,678 61.958 Cwfenl xsets less totsl liabifities Totaj 203) PernIaMntendth￿nrtt Hammond legacy Land and buildin8S Expendawe endowment Land and buildings Totsl Endow￿nI1￿jds 683 683 9,559 9.559 2.304 11546 liJ64 RestrfctÈdfvnds 227 557 UM•stricd fun 47￿58 315 47 Totsl 5th001 s9￿￿1 1235 1518) 6023B Subsidiary r￿erVeS 81 11241 43 Total Group ' s9￿3 1235 60J96 Free reserves12021: £3,aM8k, 2020.. £1645lkl a￿ (lefined as the ￿lestrIcted elements of Investments and Current assets lÈss totsl liabilities. Page 35

ABINGDON SCHOOL HNANOAL sfATEMENTS FOR THE YEAR ENDED 31 AUGusf 2021 14. FUNDS Income Expendilwe Investment Kain Balan 31 August 2021 31 A￿USt Tran 2020 2021 Perrnanent endth¥mÈrt Hammond legaty Prize funds Land and buildi Empendable endown Land and buildings Total Endownwnt funds 1181 18 161 82 758 9.559 12331 9.326 11291 13681 2.175 12259 y6 I￿} Re5tr1ctedlyrn 557 419 {57) 951 Unrestrftthd funds 47J37 27957 P6.456} 59 48,715 Total SdKx>ltsrK15 60239 28394 173 61.925 Subsidiary reseNes 1431 526 14SII 32 Toial fMo4yfvnd5 60.196 28920 {27.3321 173 61.958 Balance galrt 31 AuB￿St 2020 31 Tr 20 2020 r(w rL Permant t￿d￿￿lent Hammond le8acv Prize funds Land and builth.ngs EXpenda￿e endowment Land and buildin8$ Total EndowmÈntfimds 161 1191 9,792 12331 9.559 2,433 ?32 11291 1367) {￿1 1191 12,546 Res￿(1ed fvnd5 461 P61 p) 557 UnreslrTrfted 45.134 26JS0 {24.952) {131 47.137 Trfal Sthooltiv 58J27 27J48 125.3951 1411 60239 Jb5idiary reser 739 18501 1431 Tolal Group1￿ s8￿ 27 {26.2461 60,196 Page 36

ABINGDON SCHOOL FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31 AUGVST 2021 The Hammond legacy is an endowment In¥￿ed to pr￿de irKome for bursary and other supporL The income from eath year is then transferred into unrestrirted to prtwide funds for the sthool. Restricted funds ar• to forthe long tem fvture fortrSthool and to prThfide funds forbursaries and scholarships at the G(wemors' d$LYetion. The additions in the year are either for bursaries and scholarships orareas spetified bythe donors. 15. CAPITAI COMMITMENTS-GIIOUP SCHOOL Capital cornmilments a5 at31 Au8iL4t 2021 rotsied £3,328k12020.' fnill. 16. OPERATING LEASES-GROLW AND SCHCM)L At31 Augu5t2021, therewereoutstsndin8 commitments forfuturernin¢mum lease payments under non- cancellable operaiin8 leases, which fall due as fdlows= 2021 £.(￿0 2020 £'o)D 42 46 Wiihin oneyear Within h¥0 and fiv Overfive years 130 88 17. RESULTS OF THETWING SUBSIDIARY The school ¢)wns a non-charitable tralin8 subsidiary, Abinedon khool Enterprises knmited, ￿gIstered company number 4442429. vA)ith operates as a ￿ts11 and lettings b￿lnesS and diltributts any tsxable profits to the school undtr Gift Aid. ThetradinÉ results for the subs1dlarya￿ shown below.. 2021 2020 £'oJo Tum¢Jver Cost of sales Gross profit 526 1891 437 739 12201 519 Cost of adminislratK>n Net swWys 16301 iiiii 75 Balance Sheet Totsl assets Total liabiliti 362 13301 31 242 12851 1431 Ljiiéd up share c3plul Profit and Loss accthjnt 32 32 1431 1431 Induded wthin c05t of administTation is £20k12020.. £20kl tharged by the Charity to Abingdon School Enterprises for use of the Amty Theatre. This char8e has been eliminated on consolidation. The net liability ofthe trading subs1diarytr*￿￿ to the Cfvrity as at31 Avgust 2021 was E209k. P020.. £124kl Page 37

ABINGDON SCHOOL FINANaAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 18. NOTES TO THE STATEMENTOF CASH FLOWS Reconciliation of net incomin8 resourw to net cash 8enernted from operati￿$ 2021 2020 £'ooo Net rn￿rnent of fund5 Investment income nance costs Dep￿0atIon charges Los5 on disptyal of fixed assets (Profit) on disposal of fixed assets Decreasellincreasel in stocks Ilncrea5el/decrease in debtLY5 Increasellderyeasel in creditors lexccapilal creditsy movemenil Loss/lGainl on investments 1.762 1321 21 1,600 1511 17 3,616 {331 12961 376 41 616 11731 Net cash 8enerated frrrfn operatiw 5,306 19. PENSION SQIEMES Teather5' Pe￿10￿ Stherne The Sthod partitipates in the Teathers. Pension Stherne l-the TPYI for its teathI￿ staff. The pension thar8e for theyear includes contributions payable to the Trs of £2.718k120z0￿2.58Sk).Att￿ yearr th￿ were no unpaid accruals in ￿$pert of contribulions to thi5 5theme. The TPS is an unfunded mult￿emplLryer defined benefits pension stheme governed by The Teathers, Pension5 Reguktions 2010 las amended) and The Teathers. Pension Stheme R4ulatsons 2014 la5 amended). Mambers contribute on a -pay as go- bas¢s with contributions from members and the employer bein8 uedite(I tothe Excheouer. Retirementandotherpension benefit5 are paid by wblicfunds provided by Partiament. The employer contributicm rate is set by the Setretary of State following sthtme valuations undtrtaken by the G¢)vernment Actuatys Departr)ent The m05t recent actuartal valuation of the TPS w35 prepared as at 31 March 2016 and the Valuation Report. whith was pvblished in Marth 2019. confimed that the employer contribution rate for the TPS would increase from 16.4% to 23.6% from I Septernber 2019. Employers are also required to pay a stheme administmion of 0.08% giving a total employer conthbution rate of 23.68%. The 31 March 2016 Valuation Report was ￿pared in accordan￿ the benefrts Set crtrt in the schème re8u13tions and underthe approath speofied in the Dirertiryt5. a5 th￿ap￿￿ed at 5 March 2019. However. the assumptions were coridered and set by the Department Education prior to the ruling in the 'McCloudlSar8eant we.. Ths case has wuired the courts to tonsider cases règarding the implementation of the 2015 reforrnsto Public servi￿ Pensions indudin8 theTeathers' Pensions. On 27 June 2019 the SU￿rne C(KJrt denied the g￿￿Mment pèmtssion to appeal the Court of Appeal's judgmènt that tran51tional provisions introduced to the refomed pension schemes in 2015 gave rise to unlawful agediscrimination. The8overnment 15 respertin8the Courfs decision and hassaid it wll en8a8e fully with the Employment Tribunzl 35 well a5 employer and member representattves to a8￿e how the discriminations wll be remedied. The gcwemment annc¥Jnced on 4 Febfuary 2021 that it inteTrds to proceed with a defe￿d d)oi¢e underpin under whith members will be able to th005e either legary or Page 38

ABINGDON SCHOOL FINANOAL STATEMENTS FOR THE YEAR ENOEO 31 AUGUST 2021 refomied stheme benefits in ￿SPeCtOftheirSe￿£èdU￿ngtheperiod between i April 2015 ar￿ 31 Marth 2022 at the pthnt they become pay81￿. TheTPS is subject toa thstop methanism whithwas wtin p$￿t• protett taxpayus against unfo￿eeN thar8es in scheme costs.ThethiefSecTetsryto theTreasury. having in 2018 announ￿ that the￿ would be a rtwiew of t￿S cost cap methanism. in January 2019 announced a pause to the tost cap mechanism followin8 the Court of Appeal's wlin8 in the Mcaoud/Sargeant Case and until there is ￿rtaInty about the value of pens￿n$ to employees from April 2015 onTwards. The pause was lifted sn July 2020, and a coThsultation was launthed on 24 June on proposed thar%e5 to the cosl contrc4 mechanism following a review ￿theGOVernmentAttUary. Followir¥ a publicconsultation, theGovernment have accepted three key proposals recommended by the G￿ernmentActuary. and are anin8 10 implementthese tharye5 in timè for the 2020 valuati¢)n& Inviewof theabove rulings anddeosi￿s theasstxnptiorts used in the 31 March 2016Artuarial Valuation may become inappropriate. Inthis scenario. a valuation prepared in accordafVWith revised benefits and svitably revised assLrnPti¢)ns would wdd different ￿Ults thanth0sec￿tèlned in theAttuarial Valuarion. Until the cost cap methanisrn remsion is completed it is not possible to condude on any finanoal impact or future changes to Iht contribution rate5 of the TPS. Accordingly no provisirm for any additional past benefit pension costs is indude<l in these finanoal siatenents. Non.Teather< Pension 5d￿ME$ The Sthool alw runs Pensi￿ schemes for its non-teaching staff. whith a￿ all defined contributions schemes. The cosi for the year of £490k12020.. £455kl represents the Charitvs contributions to these schemes and ihwe were no unpaid cTr)thtutions Outstandi¢￿ at thèyearend. RELATED PARnES Duri￿ the year donations wert rerer¥ed from Gthpmgr5 totall1￿ £6.34512020'. £1501. Durin8 the year, the School purthased usa8e of fi151ty Park totalling £35k12020.. £37k) from the wholly owned subsKliary undertakin& Abingdon khod Entwpri5es Limited. At the balan￿ sheet dat¢ the subsidiary cthved the khts)1 £209k12020= £124kl. 21. FINANCIAL INSTRUMENrs 2021 2020 £'LI)O Carryin8 amtyJnt offinanoal assets Financial assets attsirvalue throu8h income oreKpenditu 1.479 L235 Pa8e 39