CHARITY NO.. COMPANY REGISTRATION NO.. 1071298 3625063 ABINGDON ABINGDON SCHOOL Report and Accounts for the year ended 31 AUGUST 2023 ABINGDON SCHOOL INTRODUCTION TO THE REPORT ANO ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 Contents Introdurtio Structure, Governance and Management ObjECt. aims, objective5 and activlties Investrnent powers and policy Publlc 8enefit Streamlined Energy and Carbon Reporting ISECRI Equality Aci Disabled perso￿$ Section 172 Statement 12 14 14 14 StatemeAt of Directors, ResponsibFllties Independent Audltors, Report to the members of Abingdon School Con501idated Statement of Financial Artlvities ItiTrcorpofating income and expendtture accountl School and Con501idated Balance Sheets Consolidated Statement of Cash flows 15 16 20 21 22 Notes to the Flnancial Statements 24-39 ABINGDON SCHOOI INTRODUCTION TO THE REPORT AND ACCOUNTS FOR THE YEAR ENDEO 31 AUGUST 2023 Introductio fjoverDors. Dirertors. Offittis and Advlsers The Board of Governors of Abingdon School 15 apposnted in accordance wr(h the term5 and condltions laid down in the School'5 Mernorandum and Articles of Assoclation incorporated on 2 September 1998 as arnended in March 2005 and January 2017. The Governors who served in the year were as follows: Cfyopted Governo Michael Steven5 Penny Chapman Mark Lascelles Robb*e Barr Jonathan Carroll Glynne Butt Steven 5ensetall Harriet Woollard Kate Wheeler Michael Farwell Mark Beer Briony Bowers Chalr VS£e Chalr NomlnotedGovernors Christ's Hospltol of Abingdon Kevin Senioi The Mercers, Compony, London Robert Jardine-Brown The OldAbingdtsnitsn Club Ken Welby Dlrectors All Ablngdon School Governors are re8iStered with Companies House as Directors of the Company. Officers Michael Wlndsor Craig Williams Justin Hodges Headmaster, Ablngdon School Headmaster, Abingdon Preparatory School Director Df Finance & Operations, Company 5ettetary and Clerk to the Governors Page I ABINGDON SCHOOL INTRoDucfioN TO THE REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 Advlsers Bankers National Westrnin5ter Bank PIC 11 Market Place. Abin8don, Oxfordshire OX14 3HH Solicltors Harrison Clark Rickerby5 Ellenborou8h House, Wellington Street, Cheltenham, GL50 IYD Auditors Critchleys Audit LLP Beaver House, 23-38 Hythe Bridge Street, Oxford OXI 2EP Investment Advisers Rathboftes Flnsbury Circu5, london EC2M 7 AZ Insurance Brokers Marsh Insurance Brokers Ltd Capital House, 1-5 Perrymount Road. Haywards Heath, West Su55ex RH16 3SY Addresses AbinBdon School Park Road, Abingdon, Oxford5hire OX14 IDE (Registered offlce amd rnalllng addre5s1 Abingdon Preparatory khool Josca's HoL¢se. Fr¢lford, Abingdon, O¥ford5hire OX13 SNX Referen¢e & Adminlslratl¥t Informatlon The Senior school IAt>ingdonl and the junlor School IAbinEdon Preparatory School) are herealter referred to as 'Abingdon School, or the '5chool' and are reglstered with both Companies House and the Charity Commlsslon as Abingdon School. In thi5 report where specific reference to either School is necessary the seniDr School 15 referred to as'Abin8don' and the junior ￿h0o1 as'Abingdon Preparatory,. Abingdon is known to have existed in 1256. It wa5 le-endowed in 1563 by John Roys5e, a London Mercer. It moved to it5 present slte in 1870.1n September 1998 Abingdon combined with Abingdon Preparatory School lat that time known as 10sca'sl. formin8 3 new ReglstEred Charity (No, 10712981 and a company limited by guarantee INO. 36250631, which was incorporated on 2 September 1998. The Company, Abin8don School, is governed by its Memorandum and Articles of A5SQClatlon. The School has chosen In accordance with Companies Act 2006, 5. 414CIIii to Set out In the group's Strategic report information required by Large ar>d Medium-slzed Comp3nies and Groups IA¢eounts and Reportsl Regulation5 2008, Sch. 7 to be contained in the dlrecttsrs, report. It has done so In respect ol public benelit and energy and carbon reporting. structure. Go¥eYnanre and Managemènt Orgunlsotlonulstrurture and declsion-moking The Schoo5 Governors. as the Directors of the Charity, are legally responsible for the overall management of the school and for its strategic direction. Governor5 benefit from presentations by stalf and by third.party experts, and from lace-to-face meeting5 Wlth staff4 pupils ènd parents in order to deepen thelr knowledge of the school and of issue5 of current Importance. The Governors were 3551Sted in ulldert3kin8 their re5ponsibllitle5 durirng the year by four Governors. suk)-committee5, narnely rhe Educatlon Committee, Finance Committee, the Audit Risk & Compliance Committee. and the Remuneration, Nominations & Staff Consultation Committee, I pèrticular, the Remuneration, Nominations & Staff Consultation CommitteÈ reviEw5 the remuneratlon of the Semitsr Leadership Team wlth reference to benchmarks and sector trends. The Head is responsible to the Chair and to the Govemor5 for the mènagement of the School. which the Head achieves w•th the support ol the Director of Finance and Operations. the Second Master. the Head of Abinedon Preparatory School and member5 of the Senior Leadershlp Tearn5 at Abingdon School and Abingdon Preparatory School. Page 2 ABINGDON SCHOOL INTRODvcfioN TO THE REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 The Governors and Senior Leadership Teams recogni5e the importance of engagement with employees and stakeholders to the ongoing succe55 of the school. En8agement with employees happens in many forms Incl￿dIng weekly staff meetings, reBular meetings of the Staff Con5ultatlon Committee, and regular surveys of staff. Engagefflent wlth other stakeholders aSs0 take5 many forms iThcluding parents, evenin8s and webinars, parents. associations, an active alumni club and a student council. The Governors are aware of the Charity Governance Code and believe that Abingdon School èppl*es, in 311 aterial respects. all seven of the principles and recommended practice for Bood govemaace colilained in the Code. In addition, the School is registered with the Fundraising Re8ulator. Recruitment Evnd Tmlnln9 0AGovemors The appointment of Governors is confirmed at meeting5 of the Full Governing Board on the basls of nominations received to the Board'5 specifications concernlng eligiblllty, personal iompetence, 5peciali5t 5ki115 and availability. New Governors are inducted into the workings of Abingdon and of the Charity. includin8 Its sirate8y, policies and procedures, at induction meetings organi5ed by the Clerk to the Governors. On-goin8 Governor training is carrSed out through seminars or8anised nationally or èrranged internally. If GovÈrnors incur training Costs, Abingdon offers to reimburse thèse. Group StrnrtU￿ qndRek*tlonshlps AbSngdon School has a wholly owned non-charltable subsldlary, Abinsdon School Enterpri5e5 Lirnited. Objert. alm$. oblectlve5 and a¢tlvltlts Choritoble obierts The Charl￿S objects. as set out in it5 Articles of Assoclatlort are.. to advance, for the public benefit, the education of childrery and young people not older than the a8e of nineteen years èt Abingdon School Dr such other School as the Governor5 may from tlme to time determine, and to promote for the benefit of the pupils of Abingdon School and the inhabitants of the surrounding area the provision of facillties for recreation or other leisure time occupatlon of Individuals who have need of such lacillties by reason of their youth, age. Inflmity or dlsablement, financial hardshTrp or social and etonomic circumstances or for the publlc at large In the Interests of social welfare and with the objecl of improvln8 the condition of the Itfe of 5atd inhabitants. Alms ondlntendedlmpurt-AblngdoD'S Alms ttrtdEthos st#tement.' "Though proud of its considerable successes, Abingdon enfroys a down-to-earth atmosphere that stem5 from being a school that knows itself well, does not seek to be what it is not and eschews the flashy. the false and the airogant. There is 3 constant eye on innovation to reflett the need5 of a rapidly-changing world but the schoDI is also careful not to disper¥se with the traditional where trled and tested practlce prove5 Still to be the mDSt effective. Whtle Abingdon Is certainly academically 5electSve and vigorously promotes the Ilfe of the mind, academic achlevement is far from being the sole criierion eliher for entry orfor success whilst at the school. The choice of title for our formidable extra-curricular programme- the Other Half- symboli5es the importance to the school Df nurturin8 well-rounded pup115 and our belSef that the development of their Skills and character5 is of equal Importance wlth thelr academic progress and achievements, We offer exceptioTral facilttie5 but recognlse that the success of Ablngdon School rests upon the quality of our staff. 50 we recruit bnd develop highly qualified colleague5 Of diverse talents and stronE cornmitrnent. We value our powerful links with the wider cornmunlty and nourish thern through active and effettlve partnerships.. thls include5 our ComM￿tment to keepinE acce55 to an Abingdon education as wide as possible. Underpsnning all that the School does Is a very strong pastor315V5tem. The house and tutor structure anchors day pupils and boarders a11ke with a powerful sense of belonging and ensures they are known indlvidvally and feel genuinely ond persoTralty supported by a range of people thelr journey towards adulthood, Page 3 ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2023 srRATEGIC REPORT FlnanclulRevlew The total income forthe year comprised £32,036k12022.. £30,519kl from school fees and anclllary income, £629k 12022.. £644kl from chatltable donatSons and £1,305k12022.. £1,182kl from other actiwtie5. EKpendSture o School operatins costs was £32.600k12022.. £29.042kl of which 64% is represented by staff costs. The total fund5 as at 3118123 amounted to £64,158k12022.' £64,020kl. of which ESI.230k1£50,985kl Is unrestricted funds. As an educational tharity. the School has tax ememptlons on its education31 actiwties and Its investment income and is entitled to an 80% reduction on bu51ness rates on the properties occupted for chaTltable purposes. The financial beneflts derived from these tax exemptson5 are all applied for educational purposes, Including the provision of bursaries. Ablfjgdon School is not able lo reclairn VAT input tax on its Costs as It is exempt forVAT purposts. The Governors consider both the level of activity and the year-end flnancial positlon of Abingdon School to be sat15fa¢tory Rlsk Mun¢7qement The 8oard of Govemors is responsible for putting in place a strategy to manage the risks faced by the School, whlch they review annually. The Governor5. Audlt Risk & Compliance Committee provides increased focus on this important area and reviews the risk reglster termly, Governors oversee the Sernior Leadership Team who have executivÈ responsibility lor iderJtifying, assessing and controlling risk5. The key business risks for Abingdon indude maintaining pupil number5, child protection, I￿, and welfare and academic standards. They also indude external factor5 such as the general economy. cost inflatSon, pandemlcs and chan8es to the political environment ènd the Teachers, Pension Scheme. The Labour Party's commitment should they form the next Eovernmentto adding VAT to school fee5 and removlng rT)andatory bu51ne55 rate relief is an area of particular risk. Controls and safeguards which are put in place to manage the major risks include approprlate leve15 of insurance cover,. terms of reference for all the Governors, suIFcommittees,' strategic planning, budgeting and mallagemenl ccouDting,' formal wrltten policies.. clear authorlsation and approval levels; strict adherence to safer recruitmeni procedure5 iTt order to protect school puplls,. completion of appropriate risk 35se55ments on relevant 3spect5 of the Srhool's activitles., and disaster plannlnR. The School's Health and Safety CDrnmittee supports the suitable management5 of health and safety risks and seeks to ensure that appropriate risk ès5e5sments are In place. The Governor5 are of the opinion that they have put In place a 5trdtegy to identify and, where practicable, mitigate the major rlsks. It is recognlsed that while this process provldes reasonable assurance that identified risks are bein8 mifigated. it cannot provide absolute assurance. Achlevements ondperforniunce Abingdon is a boarding and day school which provides education to pupils between the ages of 11 and 19. Abin8don Preparato¥y provldes education for puplls between 4 and 13 years of age. The average number of pupils in the schools durlng the academic year 2022123 was 106812022.. 10581 for Ablngdon and 21712022.. 2351 for Abinsdon Preparatory. Demand for place5 15 high allowing lor comprehensive plannlng for future mprovements and development5. Page 4 ABINGOON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2023 Acudemk Results External exam grades in 2023 were widely reported to have retumed to pre-pandemlc levels and Abingdon's results were comparable to those achieved in 2019, At A-Level in surnrner 2023, 70.1% ol grade5 were in the A* to A range12017-19 average.. 65%1 and 90.5% at A. to 812017-19 averaRe.' 87.1%). At GCSE. 34.8% 01 grade5 We￿ awarded at grade 912019.. 42.1%), with 81.4% in the 9-7 ran8e12019.. 86.6%). 99.6% were in the 94 range 12019.. 99.3%). Gronr-making polity The Governors are committed to broadenln8 access to Abingdon School by offering rnean5-tested bur5arie5 to pupils ￿￿Ose parents/8uardians are unable to pay the full day fees. All bufsaries ale means-tested annually and have a value of up to 100% ol the day fees. Pvpils rnust meet the Schools, usual entrance criteria but need not necessarily show eyceptional èbility. Abingdon offer5 an enormous breadth of opportunity and bursaries are airned at those students who wlll take full advanta8e of all the School has to offer. During the year 7612022.. 691 puplls benefited from Bursarles at a total cost of £1.148k12022,. El.056kl. Of these, 2112022., 191 were lOO% bursarie5. Abingdon School has a range of scholèrships and awards offered to pupils entering the School. 5¢holarships and awards are provided in recognition of exeeptlonal academic, music, art and design, dfama or sporting ability., they Carry kudos and privileges within the School. ScholaTships carry a nominal flnancial value of £300. and 181 12022.. 1841 were awarded durln& the year. All 5cholarshlps and bursarie5 are subject to sat15f3ctory academlc progress and behavlour, and in the case of 5cholarship5 and awards. to a continued contribution to the di5cipliThes for which they were granted. Each case 15 assessed on its ov4n merit5 and awards are made acctsrdirngly, subject to the Schoo15' ability to fund these within the context of Its overall budgets. Plonsforfutureperiods During the year. the senior leadership team and governors reviewed the plan5 in its five-year Foundation Dèvelopment Plan for 2022-27. To consolidate it5 POSltion as the school of choice, the broad aims of the School are: To develop Its posltlon as one of the leadlng independent schools Britaln, wlth a reputation for excellent academic results, pastoral care and co-currlcular athievements. To encourage irTr each pupil, the development of character and the many ski115 they will need to flourish at school and beyond. To maintain and extend accessibllity to pupils of hi8h ability. whatevertheir econornic orsoclal bac*8round, particularly ihrough bursary schemes. To be reco8nised as a centre of èxcellence In educatlonal practice and continue to attract high qualily Staff. To maintaln and invest In Its facllitles to support its Aim5 and Ethos staternent. To build on the positive Tole it play5 in the local comrnunitythrough effective partner5h(p5 and collabDratioM. To be environmentally responsible and promote sustainability. To be a sector lea*4er in diversity, inclusion and eqvality matters. To Ensure the Abingdon experience ftsr pupi15 and their families is enjoyable, rewardir+g and enga￿￿g. To seek and uti1Sse extra sources of funding. To be as affordable as posslble in the context of these aims and the eronomic environment. Page 5 A81NG(X)N SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2023 Capltal developmentsand reserves Copltal develOpn￿nts ThE last decade has seen SiRnificant capital developmertts at Abingdon School wlth substantial investment ITh the upgrade and modernisatlon of facilities. These developments have included a new 5ciente Cemtre and Sixth Ftsrrn Centre a5 well as improved facilities for Art. Muslc, Drama, the Library, Sport. houseroom5, Business Studles, Econom*c5 and Computer 5tudie5. These developments have happened alongside extenslve refurbishrnent ol the School. The most recent area5 of capital development have been the substantial rnodernisation of two boardlng house5 and the creation of a second dining hall, café and flexible space attached to the Amey Theatre. These were completed in the term following year end. Moderni5ation of the rema*ning boarding house 15 scheduled for tbe next period. At Abingdom Preparatory, the significant investment of recent years has been completed with the openin8 In Septernber 2022 of new buildln8s for a Music 5choLIl and DeslEn bnd Technology department as well as four additional cla5sroorns and refurbishment and expansion of rhe sehool library. Reserves Note 13 to the financial statements sets out an analysis of the School's endowment, restricted and unrestilcted fund5 and their ottrSbiitable assets. These assets are sufficient to meet the charity's obligations. The GDvernors regularly review the flnances, budgets and the spending against budgets as part of the effective stewardship of the Charity. In commorb with other independent schools. Abingdon School has invested subsrantial sums into new school buildings in recent year5, and operates a continuin8 programme of refurbishment, development and investment to Maintai￿ excellent teaching, welfare and boardTrn8 fècilitle5 for At the end of the fihancial year the total level of group reserves stood at £64.158k12022.. £64.020kl of which £51.230k12022.. £50.985kl was in uare5tricted funds. It 15 the School's policy to build up funds to meet planned improvements and additions to the School's resourtes principal￿ by means of annual operatin8 surpluses and therefore the Governors have not set a target level of free reserves. As wlth many independent schools, the group has negative free reserves a5 all of the surpluses are reinvested into the school'5 fixed assets In order to aintaln a hlgh standard of facilities. The Governors are of the view that the group has adequate working capital for Its loresee3ble requlren7ent5 8lven the predict3bilityof cash flow arisin8 from pupil rolls, the ongoing demand for places at the 5thool and the availability of banking finance low8¥d5 the cost of capital expenditure. Investment powers and pollcv Investmentmonagement The Governors are authorised by the Memoraodum of Assoriation and by the Trustee Act 2000 to Invest monies not immediately required for the schools, PUFP05es. or where thEfe is a specific obligation to invest fur+ds to comply with the terms of a restricted dDnatiDn, in seC￿rItIeS. property or other investments a5 may be thought flt. StTategic investment policy ts set by the Governor5 and the School then Works wlth Rathbones, the school's investment managers, who then ffiana8e the investments whhin prescribed guideline5 on a discretlDnary bas1S. The investment objective is to prDtect the real value of the capital whilst generaiing income with a view to producin8 annual growth of a rate at least equivalent to the increase in the School'5 tuition fees. The Governor5 remain confident that their investment policy is Pfudent and likely to produce attractivE retk*Tn5 over the longer term. Investmentperformonce The School's Investments decreased from £1,733k in 2022 to £1,495k in 2023 following a transfer of donated funds and an unreali5ed loss of £48k12022.. Ios5 of £130kl on retained investme.nt%. The Governors wlll continue to keep all Ir+vestment5 under close review. Page 6 ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2023 Publlc 8on•fft In setting the School's objective5 aThd plafining its activities, the directors of Abingdon School, as charity trustee5, comply with thelrduty ir s.17 of the Charities Act 2011 to have due re8ard to the Charity Commission's publlshed general guidance concerning the operation of the publlc benefit requlrement. Abingdon School has been involved in the local community for rnahy years and places greatvalue on supporting young people across the town. Abingdon School in Partnership IASIPI was developed in 2018119 to coordinate and develop partnership a£tivitie5. ASIP works closely with prirnary and secondary schools across sectors as well as bein8 involved with the Strategic development of partne¥ship5 at a national level. ASIP'S aims Include.. ForAbingdon School to build on the p051tive role itploys in the locul communlty For 5tudtnts ond stoff to collubornte effertively ondpositively with mernbers of the locul community. For students tindstoff GtAbingdon School to challenqe themselves through portner5hip5 Our VIs￿n., CentrGfl to on Ablngdon school educotion is otsrnotionullyrespected pt7rtnershippmgromrne where cornmtsnityi ¢olloborution and challenge run through o1105pects of School Ilft. Our Mission.. To help ourstudents become umbitious ond re5illen¢ stoff ro be collubon7tive OndreIlectr￿4 parents to feel infvrmedond engoged, andfvrollstt7keholders tofrelsupported by, ond 9lven opportunitles throijgh. partnership5. The followirtg sections focus on the work that was untlertaken in 2022123 in support of these aims. Communl 8ursaries: The Governurs of Abingdon School are comrnitted to broadenlng 3tcess to the School. The School endeavours io provide an education to those pupils who will best trjenefit from the style of teachinE and the facilities that we have to offer. Inevitably. not all parents of such pupils will p05se5S the rneans tts fund the school fèès that the School necessarily has to charge. The School provides means tested bursar+es to help addres5 thi5 challenge. During the year 76 puplls benefited from bursaries at a total cost of £1,148k. In addition to this direct assistance with fee5, the School also subsldSses anelllary expenses such as school trips where parent5 would othen￿lSe experlence flnancSal hardship. The Governor5 make Sure that the availability of these awards is well publici5ed through advertlslng and when V151ts are made to local primary schools. In addition. details of how to apply are made available on the School's website. Additional resource5 for bursaries are an Increasing driver of fundraising activilies. A new fundraising campaign for bursaries was launched in autumn 2021, '5even years to change a life,. This led to a positive response from donors. Furthermore, a successful fundraising and awareness building telephone appeal In support of bursarles was held in June 2022. In light of the recent situation, the School has wven 4 full bursarles across the foundation to children from the ukraine. Mèntal Health and WellbelnB.' We continue to base our provi5ionsfor mental heahh and wellbeingon the whole school approach, supporting young people, their families and school staff. In 6 primary schools across Oxfordshire. we have delivered a series ol 'Preporing for Puberty, workshops for year5 5-6, with 247 children takirig part. Several assemblies on topics including, 'monoging worry ontl unxietrf, 'celebruting diversity/, 'when bonter becomes bullylng,, 'mtinogAng blgfvelings,. 'whot is menr¢71 heotthf and 'tJn intr(￿uCtion to mindfulness. were delivered to over 300 children at Caldecott primary school. For secondary schools, assemblies included 'leorning to cope. for 200 year 9 pupi15 at Wood Green School, 'cornmunicoting consenv and '5hould we cancel concelcultureP for 287 pupils in yeèrs 12 and 13 at IMF6, and'munoging ortxletrf for 670 pupils In year5 7, 8 and 10 at John Mason School. For the OX14 Learning Partnership, 40 Peer Support Leads learnt about anxietv management and how to help younger pupils and 40 pupils from the 6 schools also took part in an LGBTQ+ soclal event held at Abingdon School. Page 7 ABINGDON SCHOOL REPORT OFTHE DIREcfoRS FOR TH£ YEAR ENDED 31 AUGUST Z023 Mental Health First Aid trainlng (Youth and Adultl was dellvered to 54 staff across our partnersnip schools. CPD sessions on 'stoff wellbelng, were g*ven to 24 staff at Comper Foundation School, 100 staff at John Mason School and l(MJ staff at Fitzharry5 School. A talk on 'getr)der, sexuLTlity and mentol heolth. wa5 tjelivered to 60 staff at Plnewood Prep School and 100 staff at John Mason School, An LGBTQ+ inclusioin workln8 Broup wa5 est3bli5hed for the OX14 Learning Partnership, wlth 8 Staff member5 working together to develop student experlence, parentèl engagErnent and School policy. For parent5 and families, regular webinars were offered to our partnership schools, including'supporting young people smentqlheulth'wlth psychiatrist. Dr Mei Simmons1137 attendees), 'sUPPOrtlng yourchlldthrough exoms. 1101 attendees), and 'trJ conversation withjumes Shone'l117 attendees). Bespoke webinars and talks were given to Sunnlngwell1211, St Peter's1241 and St Christopher's prlrnary1201 schoo15 Oll the ASE curriculum and staying sale online. A specialist CEOP weblnar recording on online safety was offered to all famllie5 at Fitzharrys School, Comblned Cadet Force: The broad fvnition of the Combined Cadet Farce is to provide a discipllnEd organisatitsn within a School so that students may develop powers of leadership by mean5 of training, to promote the 4ualities Df responsibilrty. 5elf-reliance, re50urcefulne55. endurance and perseverance. and a sense of service to the community. It is firmly believed that the 5elf-confldence and self-discipline required in Service life are equally important in clvilian life. 201 students were members Df Abin8don's Combined Cadet Force in the year. Community Servlce: Forty students visltEd six care home5 and residences for older peuple on a weekly basis to run quizzes and share the cakes that they had bèked. We hosted 3 tea parties at school for 50 local residents. The caterin8 department prepared aftemoon teè boxes which were delivered to the local care homes that could not attend the tea party. Students volunteered at two charitv shop5 town and four aspirin8 medlc5 Vlslted AbingdDn Hospital to help on the wards. The Music in the Communitv group vi51ted care homes and Abingdon hospltal at Christma5 Wlth a festive performance of carols. We have a termly rotatlon of student volunteers but usually eiEhty students are involved in community service each term wlth over a third of all our st￿dentS coTrtrSbuting at some point in the acadernlc year. Ouke of Edlnburgh's Award.. In 2022123, 227 students participated in the DtsfE Award and cornpleted over 20OJ hours of volunteering In their lotal comrnunity. Thls Included volunteEring in charity shop5, ViSltin8 the elderly, coachin8 sport5, running youth 8roups and helping to run communlty or8anisation5. Fundra151ng and Overseas Ald.. During the 2022123 academic year the sihool raised £10,000 through a wide range of fundraising event5. HDme clothes days and 5pon50red athletic endeavovrs were popular a5 were the usual Abingdon Comrnunity Toy Drive. Tutor group5 held pool tourrnaments and quizzes. 2023124 will be a bLtmper year with the biennial sponsored walk. AmeyTheatie: Abingdon School ha5 3 446 seal modern tbeatre which regularly host5 events for the community and local schoo15 at discounted or free rate5. This year the Theatre rall a Live Screening programme 124 screenlngs Includlng those from ROH Live and NT Livel which Is open to the local community. We hosted several local primary schools for a range of end of year performances and event5 at 100% discounted hire fee, 5evernl local dance schools use the Amey Theatre throughout the year, many of which were raising money for local charstie5. where thls is the case, a reduced. hire fee 15 offered. The Amey Theatre is a150 used as a performance base for several youth theatre groups, including DIY Theatre Cornpany and the loc31 Stageeoach schools helping produce several of their production5. In 2023, the theatre was a central venue for the ATOM Festival of Sclence and Technology and Abingdon Music Festlval. Tllsley Park and Sports Centre: Abin8don School operates a substantlal track and fi.eld facility in the north of Abingdon called Ti151ey Park. The slte has three 5-a-side football pitches, two full s4ze 35tro-turf hockey pitches, full-size artificial pitch for rugby. football and American football as well as a 7-a-5ide football pitch that Is a150 suitable lor ru8by trainlng. These facilities are regulady rented to local community clubs and Schools. Mlsley Park support5 annual sports days for IDcal schools free of charge. Further community use included.. free facllity hire for two partnership groups that run sports everit5 lor local schools., 35 community clubs re8ularly usSTh8 Tilsley Park for tr31nlng andlor Competit￿Ve matche5,' along with hosting the Abin8don Marathon for a substarntially Page 8 ABINGDON SCHOOI REPORT OF THE DIRECTOR5 FOR THE YEAR ENDED 31 AUGUST 2023 discounted lee. Schools and other charlties are also offered a discount when book+ng outside of theirsports dav, in some cèses the facility is provided free of charge. In 2022, a jolnt venture with the Abingdon Bridge mental health charity started the North Abingdon Youth Club. This continues and sees between 10 and 20 yovn8 people attess the youth space at Tilsley Park each week. The Schoovs Sport5 Cèntre also runs an extensive programme of activitSes for the community, Includln8 the Abingdon 5wlm School,. the Abingdon Sports anLI Leisure club with access to facilltie5 and exercise classes,. as well as course5, camp5 and academles. The School also works closely with Oxfordshire Cricket ro provide a resul3¥ winter training base. The swimming potrl has been used to support 16 Year 7 non-swirnmers from è loca5 school as well as students from a local primary s¢hool. Collabo Abingdon School is aware of the fortunate positlon It holds both within the local edocational landscape and within a broader national picture of school provision. To this end the School ha5 worked haid to set up and develop partnerships with local schools which continue to grow ènd thrive across academic and cross-curricular settings. Abingdon School in Partnership IASIPI enccmpa5se5 all a￿a$ of partftership at Ablngdon School. ncludin8 the Abtngdon Science Partpership which has been running since 2014 and the OX14 Learnin8 Partnersh*p which launched ir$ 2021. The aim15 to help staff and students at Abingdon collaborate with, and learn from others within. the local educational Community. Impact: 2022123 saw over 190CX) hour5 of student experience within ASIP. with over 7500 Studènts involved from 80 Schools acr055 ages and sectors. Approximately 25%of teaching staff have been involved with the partneY5hip programme in some way. A core Partnershlp Committee of staff mernber5 spend many hours each week dedicated to planning and implementing partnership events and acllvittes Abingdon S¢hool In Paftnershlp: The main focus of 2022123 was to implement a Prlmary Strategy wlth a focus on three local Primary 5choo15 ill soiith Abingdon and to develop partnership activities in the arts and sport. Ablngdon Sthool 15 a founding member ol the OX14 Learnlng Partnership Iwww.ox141 .ukl. A formal state and independent and state School partnership, the OX14 LP 15 now in its third ye3r. Headteachers from across the 51X Schools Involved have worked together to create a mutually beneficlal partnershlp based on challenge, inspiration and sUPPOrt for students and staff. In 2022123 there were over 5000 hour5 of student experience and 50 activities. The Director of Partner5hip5 and Partnership Coordinator meet regularly with representative5 from each of the 6 schools as well as workin8 Wlth the Headleachers to ensure the stratesic vision is met. Teachers at Abingdon School create and lead on events as well a5 joining wider networks to plan events together. Now in its third year, the Academlc Coachlng programme alms to train Sixth form 5tudEnt5 In the coachln8 conversatlon. Coaches are taught how to develop meaningful coaching conversatlons wlth younger pupi15 and through a series of one-to-one sessions they help to build techniques and resilience whereby learnlng chèllenges can be explored and eventually self-managed. Itls also a valuable opportunlty for self-reflection and d15covery. 60 students were trained in coaching and carried out 300 hours of coaching. After 415 sessions coachee5 showed evidence of increased growth mindset and growin8 confidence to make positlve changes. Across nearly all metrics, data showed increased levels of empathy when working with younKer Students. Now irn its ftfth year. the Peer Support Lead programme works with students across OX14 LP 5choo15 to train and deliver a collaborative pro8ramme for sixth form Students. The PSL prosramme airnsto enhance existing pastoral support structures in schools and brin8 Students together to learn Thew skills. Over So students took part and 100% tsf survey respondents improved their ability to support a younger pupil over the programme. 87% felt their listersirng skills had improved to a large extent. The pro8ramme provides addttional 5UPPOrt for internal pastoral systems in each 5cltool. 'After Ablngdon, programme: partner schools attended the School's online 'After Ablfigdon, event In February where talks were Kiven on Oxbrldge and altern3tives to university. Dther webinars and activitle5 were also open Pa8e 9 A8INGDON SCHOOL REPORT OFTHE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2023 to local.students including Informational sessions on gap years, understandFnB student loans and the Fuiures Fair, a unlversities fabr with 40+ UK and International in51itutions. In addition, AbinEdon staff provtded OxbridÉe guidance and InteTview practice to students from partner schools. Governance: Eight members of staff seryed as Governors of local primary and secondary schoo15, Wlth 25% of those taking the role of Chair. Ablngdon is happy to release colleagues to complEte their governance dutles when those commltments fall at times when the staff would usually be In school as the school understands the benefit for all parties. Library.. Over the past year. the librarian has continued to 5UPPOrt the development of a natSonal partnershlp Df public. private and voluntary-sector organisatlons, initiated in February 2020, to encourage and a55Jst the integration of 'information Ilteracy. teaching into the secondary school currlculum,. thls Snitiative has attracted support from more than ISO organisations acros5 the UK. In addition, he ha5 worked with the education resour¢e5 provlderJCS to provide free CPO lor Secondary schools rtsnnin8 the Extended Project Qualification and seekSng to make thtr most of dlgital learnin8 resources. Over the course of 2022123, the librarian continued to mentorthree early-careerlibrarians at other secondary5chools in England. arnd liaisewith school librarian5 across the UK to holp them evaluate new informatlDn technologv. Prlmary School Partneyships: In 2022-23 we organlsed a range of curriculum work5hop5'. Tsme and Place Topic morning 145 student51. Busine55 Challenge142 Students) and Let'5 Commtsnicète154 5tudentsl at Abingdon School. Our students had the opportunityto lead some of these sessions. 5tudenls visiteil Carswell School to run a chess club and book &roup and Thame5ide school to run a nurture group and a music group, which performed In their assembly. Our students went to primary school assembl*e5 to demonstrate their instruments and to slng. Thlrd year language leaders vlsited a local primary school to deliver some modern foreign language Sessons. We also made seed boxe5. a summer holiday fun p3ck and designed a sensory 8arden in coThlunctlDn with local pr￿Mar¥ schoo15. We were contacted by the Puppetbarge and we Staged a day of puppetry workshops forprimary school Children. lft july. tg follow up this experience. 200 KS2 students visited the P4Jppetbar8e moored on the Thames to watrh a performance of the Selfish Giant. Sports Partnership5.. This year we have been co113boratlrng wlth two of the local senlor sthoo15, Fitzharrys ar¥d John Mason, delivering the rugby elefflent of their PE currlculum. This Involved two hour5 twice a week Irom September to December, leading rugby sessions for both boys and girls In year5 8, 9 and 10. We also provided . 5UPPOrt foi Caldecott school on a weekly basi5, introducing tag rugby to years 5 and 6. Arts Partnerships: We ran our rnost ambitlOU5 pro8ramme of OxfordshTre Academy of Broadcast Journalism 5ession5 to date, Involvlng 50 students from Fltzharry5, Larkmead. John Mason and Abifigdon in a mix of eleven rrper50n & online workshups on wrlting, recordin8 and presenting for broadcast. New offerin8s included sessions on rned￿a law & ethlcs, iesearching and sound I video editlng. OurAbingdon Fllm Academy ran 5fXteen weekly after school se55ions èt Larkmead. involving a iotal of 15 student5 in the creation of 3 short fictlOD films. one of which was screened at BFI Southbank in London. Three further students from Larkmead & Fitzharrys jolned the AFU'5 regular Weclne5day afternoon se55ions at Ablngdon, and made two fictlon film5, both of which were screened at BFI Southbank in London. New initiatives included arranging free partner school screenings of three Natior431 Theatre productions (The Crucible, Life of Pi, Othellol in the Amey Theatre, which attracted over 500 students from local 5chool$. A partnership5 playwritin8 competition was launched w￿h Radley College and involved 30 Students drawn from four of the OX14 schools. 6 Abingdon drama student5 took part in a rnorning of primary school workshops that focu5Ed on various forms of communication and Involved 60 pupi15 fiom three local primary school5. A very successlul musical collaboration between pupi15 from local 5choo15 took place at the end of the Summer term in the form of the"Anything but Classical" concert, in whith over a dozen bands perfofmed. Page 10 ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 AUGUST 2023 Abingdon Prep In Partntrshlp IAYIPI.. We have continued to build our links across the Foundation between APS and AS. A notable part of thSs has been the sessions held between Sixth form Peer Support Leads IPSLS) and Year 8 pupils. Year 8 have asked quesiions about life at AS and these have been answered durlnB lunchtime sessions by S PSLS from Abingdon. Lower down In pre-prep, Year 2 have used the planetarfum at AS and Year 5 have taken part in the Science partnership se55ion5. We have established links Wlth three local prlmary schools. Year 5 and 6 pupils from these schools came and took part In a Force5 workshop from Science Oxford. After being lent some electrlcliv equlpment they also c?me In and took part in a practical sesslon in the lats. Hagbourne Primary have been to APS to take part in a scienee session om micioscopes where they looked at their cheek cells. Abin6don S¢ience Partnership {ASPI.. The dedlcatEd partnershlps laboratory In the Yang Science Centre continue5 to be an essential community asset. Abingdon Science Partnership's extensive programme of primary sctence workshops, science clubs and a5trontsmy activities enga8Ès with a netsvork Df nearly thirty other schools in the area as well as community 8roup5 from the Scouts and Guides assoclation. ASP Impact.. In 2022123 ASP ran 80 primary science Workshops with schools from the local network 35 well as the Abingdon Area Home Educators 8roup. Two outreach visits were made to deliver workshops for science weeks at other 5choo15, Includlng one wlth Ablngdon School's mobile planetarium. Student Science Ambas53dors and colleagues assisted with the running ol monthly Saturday ScSence Clubs for children and parents in collaboration wSth Stience Oxford. In symmer 2023 six students from three local secondary schools were supported to take a GCSE in Astronorny through vleekly contact sessions and a self-study programme. Levels btained We￿ 2 M Level 8,. 3 x Level 5 and one Level 3. ASP Studeftt5 ill other sthools.. DUI Student Science Ambassadors have contributed to core ASP proErammes, especially the weekly Prlmary5cience Club attended by up to 30 year 5 and year 6 puplls. Sessions are organi5ed and presented entirely by our Science Ambassadors and many of these use the actiylty to qualify for the volunteering criterion of the Duke tsf Edinburgh's award. ASWS Confiden¢e InSTEM Pmgmrnme.. Abingdon School's award of STEM funding frtsrn The MErcers' Company continued to provide workshops and vi51ts for selerted pupi15 from the thiee partner secondary schools but ended Injuly 2023. The award wa5 used to partlally fund the salaries of Science Studysupport As515tants 2.5 days per week at each of the 3 partner Secondary Schools as well as to provide an Easter revision day for Year 11 p￿P115, 3 summer PractScal Skills day for Year 9 and 10 pupils and engagement vlsSts to Reading and New BLJcks Universlties. GreenpowerF24 Ch¢711enqe Team. ASP has provlded extensive logistical and administrative support to a team at Fltzharrys Sthool takin8 part in the Greenpower Challenge. ASP obtained substantial SPDnsorshlp for the team from Abingdon companies GKN Automotive and Zircotech as well a5 submitting a successful applicatlon for a Tesco Community Fund grant. This funding and 5UPPOrt allowed the eight members olthe Fitzharry5 School team to build and race an electrically powered go-kart, taking part in heat5 at Ford's Dunion test track in July and nishing 20th out of 30 cars at their very first event. 5clence Teochers. contlnulng pmft551onul development ICPDI. The ASP Lead hosts the science coordinators, group for theAbingdon Partnership of Schools. orgènisln8three twilight CPD sessions per annum in collaboration wlth the Oxfordshire Science Learning P3rtnershlp105LPI. Ablngdon School also hosted a CPO dayforthe OSLWS science technicians, network in July 2023. Working with norfonal science orqonisotlons ond commerciol companies. The ASP Lead a150 Serves on tho Educarion Comrnittee of the Royal Meteorological Society, contributing to discussions Df the Society's policie5 on link5 between science 3rd climate change In the currlcvlum. A very 5ucce5sful partnership has been established thTS year with GKN Automotive whose Innovation Centre is in Ablngdon. This has resulted in a STEM careers vislt to their centre, visits from young engineers to local schoo15 aFTrd a5 well as sponsorshlp for local 5choo15 to participate in the Greenpower Challenge. Pa8e 11 A8INGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENDEO 31 AUGUST 2023 Streamllntd Enew and Carbon AeportlnKISECRI As part of the obligatlons set out under the Energy and Carbon Report Regulations 2018, the School is required to disclose the energy consumed and Carbon dioxide cre3ted as an organi5ation over thè last reporting yèar stzrting on or after April 2019. To fulfll this we have measvred DUI UK energy and greenhouse gas em155i0ns as classlfled wtthin scope l and 2 whlch are presented in table l. In addltioll we have Included ourscope 3 emissions related to buslness travel in employee owned vehicles where the school reimburses the mileage ar>d fuel allowance. Table 2 contains the conversion factors used in the calculation of these figures. Comparative figures using historical conversion factots have been included for prSor years and our base reporting year. Or8anisatlonal ahd Operational Boundarles of the School. The School doe5 not have a complem companv structure and therefore accounts for IOD percent of the Ereenhouse ga5 IGHGI em155ions from operations over which it has control, includlng the trading subsidlary. Itsstructural and operational boundailes are the same wSth the School operatinB from four 51tes'. Abingdon School. Park Road, Ablngdon Abingdon Preparatory School. Joscas House, Kingston Road, Fdltord ri151ey Park, Dunmore Road, AbinBdon 8oathouse, WiSsham Road, Abingdon The khool operates a fleet ol sixteen mimibuses for the purpose of pup51 transportation as well 35 3 number of Krounds and other road vehicles used in the operation and rnaintenaace of its sites. MethodolDgy. The methodology used for determinin8 energy and carbon emissions wlthin this section OF the report use5 data from 3 number of sources of our greenhouse efni5sions'. Natural ￿$ used for heating the building5 we occupy and for hot Water (Scope 11 Fuel consumption in company owned vÈhirles for business use Iscope 11 Electricity used for lighting. cooling. alr condltioning and point of use water heater5 Ikope 21 Milea8e from reimbursed claims for business use in staff owned vehi£le5 (Scope 31 Gès and elertricity consurnption figu￿5 have been taken from involce5 and sub-meter readings as appropriate. Where the readlngslinvolces do not cover a full year, we have estimated the consumption for the full year based on the average consumption per day in the peritsd. Fuel consumption for company owned vehicles is measured frorn fuel cards used by staff when in control Lif busines5 owned vehicles. Mlleage from reimbursed claims from staff has been calculated using the standard rate of 45p per mile. For a base year the School ha5 Set the financial year September 2017 to August 2018 as the earliest persod for which reliabSe data is available for the 50urce5 above. We therefore include figures for the financial year Septeffiber 2021 to August 2022 (Year 11 and September 2022 to August 2023 (Year 21 as a compartson. Intensity ratios normali5e emissions data wlth an appropriate busine55 metric or financial indicator. Thi5 allDWS a cornparison of energy efficiericy performance over time and with other similar types of organlsation. We have chosen to measure our overall emission5 per average annual pupil number in each reporting year as well as our annual turnover I£ICQ,CK)051. Page 12 ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENOED 31 AVGusf 2023 Energy Consumptlon. Greenhouse Gas Emisslons and Intensity Ratitis Table l.. GHG ernlsslon5 ond eftergy usefvr reporting year. compurlson reportlng yeurs und bose reportlnq yeor5. urren repo Ingv 2022-2023 4,631,684 29.850 ear 2021.2022 4.944,009 2017-201 5,172,946 25,401 Gas combustion kwh Isco Trans ort litres (Scope I Transport kwh (Scope 11 usin8 conversion factor frorn mlles/lltres to kwh Elettriclt kwh Iscope 21 Trans ort mlles Sco Transport kwh (Scope 31 using conversion factor from miles/litres to kwh Total consum tion Emissions from combustion of ga5 kgC02e Sco e 11 Emission5 frorn combustlon of fuel for transport purposes kgC02e Sco Emissions from purchased electricit C02e Sco e 21 Emissions from business travel in employee owned vehlcles, where the company repaid mileage claims k C02e Sco Total gross tC02e based on above Avera eannual pu il number Intensity Ratio.. tC02e gross figurelaverage an￿Ual pupll number Turnover £lOO,O(KJS Additional Intensity Ratio.. tC02e ros5 fi urelEIOO,OOOs turnover 38.69 42.71 Source.. Gas und electrlcity supplier invoices. meter reodings, fuelcurd invoices, stoff mileuge claims. 310,748 1,898,279 10,440 31S,615 2,076,963 265,920 2,150,598 21,303 11,548 6.852 259 10.509 7 347.097 24,979 7,614 443 kwh 845,560 900,749 951,615 72.913 74.633 65.351 393,084 401.643 608.770 1,314 1.285 1,380 1.292 1,632 1.272 1.02 33.97 1.07 32.30 1.28 28.29 57.69 Tgble 2.. Corbon Converslon Fortors. Gaseous FueL% d F￿Ls Lid F￿15 Tra LK el￿n¢1 l￿aL DE5d Petrol Avera e car, Electr￿11 as kwh ties tres 0.18256 e blo￿ e biofuel 2023 10.5Cfj 9.462 1.10608 2.47887 2.08354 0.26817 0.20707 avera reraled Source.. UK Government GHG Conversion Foctorslor Compony Reporting, 2023, BEIS. kwh Page 13 ABINGDON SCHOOL REPORT OF THE OIAECTORS FOR THE YEAR ENDED 31 AUGUST 2023 Energy Efflclency Action5. Last year the School produced an environrnental sustainabiltty policy bzsed on the 10 One Planet Living principles to guide and support it5 environmental action plan and work has been ongoin8 to complete the agreed activities. Key actions In the year included the completion ol the two 8oardlng House projects whSth have been designed wlth a4r50urce heat pump IASHPI heating, LED Ilghting, waste water heat recovery and solaf panels. We have also completed the new Pavilion Dlnin8 room which has LED lighting, natural ventilation. a green sedum roof 3nd ASHP heating. We have rnoved our waste contract to Grundon's and can now state thatthe School waste is 100% iero to landfill,. the waste Is esther recycled or goes Into energy generation. Acr05S the Abingdon Foundation estate portfolio. we have five rools fltted with solar pan@15 and one with 501ar film and vlè our ener8y monitoring software Isolarwavel we have calculated that the annual energy generation from these is 115.46 MWH pa. Thls èquates to 23,000 kg C02 saving pa. We remain comrnltted to further reduclng our Carbon Footprlnt and Improving our environmental sustalnabllity. In particular, the followlng projects are planned for the near future.. Installation of solar paFkels at the Prep School. Cot7tinuation of LED lightSng programme in the Science Centre circulation spaces and further rollout of LED light￿ng in the main dining hall. 5POrts centre changing areas and Tilsley Park floodlighbng. Planting ot biDdlversity areas and 30 new trees. 4. Implementation of 'Ttsmblebv8'_ an onsite orgaThlc food waste solutlon. E4uallty Abinedon School complie5 Wlth the Equality Act 2010 and is commltted to providing equal opportunities in employrnent. The School's policles seek to avoid unlawful discriminatiofi in all aspects of employment includlng recruitment, promotion, opportunities for trainin& pay and benefit5, discipline and selection for redundancy. Dlsablèd pprsons The School will employ disabled persons when they appear to be the most suitable candidate for a pèrticular vacancy and every effort 15 made to ensure they are 8iven full and fair coThs4deration when such vacancies arise. During employment the School seeks to work with 2rnployees, taking into account their personal cirEum5tances, to ensure appropriate tralnlng, developrrent and advancement opportunities are available to enable them to reach their lull potential. 5ettlon 17Z Statement Thi5 Section is in re5pon5e to a reporting requirement to exp131n how the Governors, as Directors of the Charlty, have had regard to broader stakeholder Interests when performSng their dutie5 under Section 172 of the Compan*es Act 2006. It is intende¢J to act as a 'signpost' to the relevant areas of the Governors. report and not to repeatthe discusslon In other sectlons ot the report. The Governors undefstand the Importance of maintaining productlve relationships wlth all stakeholders. They do thls in many ways, Inclu¢Jlng as described in our sectlon on Public Benellt Ipage 713nd Employee involvernent Ipage 31. The inclusion on page 13 of an Energy and Carbon section demonstrate5 the Governors, regard to the role the Charity plays in cllmate ¢hange. Our Alms and Ethos 5taternent on page 3 guides the long-term declsion making of Governors arsd the Section on pa8e 4 explaiTr5 the deoslons taken in the interests of all ihe Charitws stakeholders in response to risk. The commentary, startln8 Dn page 5, that discusses our academic result51 grant-making polbcyi plans for future periods and capital developments helps explain the Governors, focuson the promotion and succe55 of the Charity for rhe pupS15 at AbSngdon, both currently and in the luture. Finally. the section on Structure, Governance and ManaBement starting on page 2 Iinderline5 the ftscus of the Governors on running the Charity effectively and to high Stsndards lor the benefit ol all its stakeholders. Page 14 ABINGDON SCHOOL REPORT OF THE DIRECTORS FOR THE YEAR ENOED 31 AUGUST 2023 Statement of DlrertDrs' Responsibllitie5 The directors are responsible for preparinBthe Directors. Report andthe linanctal staternents in accordance wlth applicable law and regulation5. Company law requires the directors to prepare financial Statements lor each rinancial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdorn Accounting Standard51 and applicable law. Under company law the directors must not approve the 1Snoncial statements unless they aTe sat15fied that they give a true and fair view of the state of affair5 of the charity and the group and of the surplL+S or deflcit of the group for that period. In preparing these finarnclal statemert5, the director5 are ￿quIred to.. select s¢Jltable accounting pollcles and then apply them consistentlv,. observe the methods and principles in the Charitie5 SORP.. rnake judgements and accountinB estimatesthat are reasonable and prudent.. state whether applicable UK A£covntlng Standards have been followed, subject to any materlal departure5 distlosed and explained in the financjal statements,. prepare the financial statement5 the going concern basis unlESS It Is inappropriate to presuffle that the charitable company will continue in bu5ine55. The dlrectors aTe responsible for ensuring that adequate 3ccounting records are malntained that are Sltfficient ta show and explain the charity'5 ènd the group's transaction5 and disclose wlth reasonable accuracy at anytime the financial position of the charlty and the group and enable them to enskbre that the ftnancial statement5 cornply with the Companles Act 2006. They are also responsible for safeguarding the assets of the charlty and the group and ensurln£ their proper application in accordance with charity law, and hence for taking reasonable Steps for the prevention and detection of fraud and other irregulartties. Provlslon oflnAornJotlon to the oudltor Each of the persons who are directors at ihe time when this dlrectors, report is approved has confirmed that.. so far as that each director is aware, there is no relevant audlt inforrnation of whlth the charitable compatty and the Group's audttor 15 unaware,. and Each dlrector has taken all the steps that ought to have been taker as a directo¥ in order to be aware of any information needed by the charitable company and the Group's au¢Jitors In connection with preparin8 their report and to e5t3bli5h that the charitable company and the Group's auditor is aware of that Information. Audltor Critchleys Avdit LLP wa5 appointeLI as auditor during the year. The Report of the Directoys and incorporated Strate8sc Report were apprpved by the Board on 6th December 2023. MIC TEVENS ir of Governors Page 15 ABINGDON SCHOOL INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ABINGDON SCHOOL FOR THE YEAR ENDED 31 AUGUST 2023 Independent Audltors. Report to the m*mber5 Ot AblnBdon School Qpinion We have audited the financlal staternent5 of Abingdon School Ithe 'parent charltable company'l and Its sub51dlaries Ithe'group'l for the year ended 31 Augktst 2023 which comprise con501id3ted statement of flnandal activities, the school 8nd consolidated balance sheets, the consDlidated statement of cash flows and nDtes to the financlal statemeftts, including 5ieniflcènt accountin8 policies. The financial reportin8 framework that has been applied in their preparation is applicable law and United Kingdom Accountlng Standard5, including FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" Iunited Kingdom Gener311y Accepted Accounting Practice). In our opinion the flnancial staiements.. give a true and fair vlew ol the state of the group's and the parent charitable company'5 affairs as at 31 August 2023 and of the group's intoming resource5 and application of resource5, includin8 Its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Klngdorn Generally Accepted Aceo¥ntin8 Practi￿., and have been prepared in accordance wlth the requiremÈnt5 of the Companies Act 2006. Basls for O￿nIon We condutted Dur audit in accordance with Internatlonal Standards on Auditlng IUKI IISAS IUKII and applicable law, Our responsibilitles underthose standards are further described in the Audiiof'5 responsibilllie5 lor rhe audit of the financial statements section of our report. We are ￿ndepelldent of the gioup and paTent charitsble company ITh accordance with the ethical requirement5 that are relev3nt to our audit of the flnancial statement5 sn the UK includlng the FRC5 Ethical Stèlldard and we have fulfllled our other ethScal responslbilitie5 1 accordance wlth these requirements. WÈ believe that the audlt evidence we have obtalned 15 sufficient and appropriate to provide a basis for our opinign. Con¢lusion5 relatlng to goln8 ¢on¢ern In auditing the lin8nci31 statements, we have concluded that the trustees. use of the golng con￿r￿ bas>s of accountin8 in the preparation of the flnancial statemeTIt515 appropriate. 8ased on the work we have performed, we have not identified 3ny materlal uncertaintie5 relating to events of conditlDns that, individually or collectively. may cast significant doubt on the 6roup'5 or pèrènt charitable cornpany's ability to continue as a going concern for a period of at least twelve months from when the financtal statements are authorised for issue. Our responsibilitles and the responsibilities of the trustees with respect to £oncern are described in the relevant sections of this report. Other Inlormation The other information comprise5 the informatlon included In the Aeport and Accounts Other than the financial statements and our auditor'5 report thereon. The trustees are responsible for the other information contained within the Report and Accounts. Our opinlon on the financial statements does not cover the other informatlon and, except to the extent otherwlse explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our respon55bility is to read the other information and, in doing 50, consider whether the other information 15 materially inconsistent with the financlal statements or our knowledgp obtained in the course of the audit or otherwise appears to be materlally mlsstated. If we idehtify such material inconslstencies or apparent material Page 16 ABINGDON SCHOOI INDEPENDENT AUDITORS, RÉPORT TO THE MEMBERS OF ABINGDON SCHOOL FOR THE YEAR ENOED 31 AUGUST Z023 misstatements. we are required to d￿ermine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that there 15 a material mi5Stalement of this other information, we are required to report that fatt. We have nothing to report In this regard. Oplnlons on other matters prescrlbed by the CompanF•s Ag over £60.000 were £954k12022.. £784kl. Thls relates to Deflned Contributloll 5cherne5 foi IS staff12022: Sl and Defined BeTrefit schemes for 48 staff12022.. 441. Page 29 ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2023 EXPENDITURE Icontinuedl dl Key mana8ement personnel (Group and Sthog11 The annual cost for the members of staff who are considered to be key management personnel lin addition to the 8overnor51 were-, 20Z3 rooo 2022 É'ooo L284 1,211 Key management personnel Includes the Headmasters of Abingdon School and Abingdon Prep School, the Oirector of Ffjnance and Operètions, and the Diiector of Admissions and Marketing. It also includes the Se£ond Master, Dlre¢tor of Teachin8 and Learnin& Oeputy Head Academicand Oeputy Head Pastoral at Abingdon School. FINANCE COSTS 1023 £'ooo 2022 £,￿0 Bank charges Interest paSd on loan5 and overdraft Ir+vestment manager fees 20 16 53 27 GOVERNANCE COSTS 1023 rooo 2022 e'ojo Auditor's remuneration Govornance adminlstratlon costs Governor expenses and costs 21 28 28 35 During the year 5 Governors12022.. 41 were relmbur5ed £t,91512022.. £1,132) In respect of travel expenses. Pa8e 30 ABINGOON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 TANGIBLE FIXED ASSETS a) Group Land Projects & In Pro¥re55 ulldlngs E'OOO Sports Equlpment Flxtures Httings & Equipmènt Motor Vehl¢les Total £'OOD Cost At I September 2022 Additions Translefs Disposals Al 31 August 2023 64,705 42 4,315 11.188 67.873 ,759 15,139 14,6281 731 37 16,747 279 313 779 75 91,722 15,572 11,2051 106,089 19,271 768 17,328 Depreciatlon At I Seprembef 2022 Charged for the period Disposals At 31 Atsgust 2023 20.378 2,368 17771 21.968 689 30 10,118 1,392 181 11.502 612 95 31,796 3,885 17911 34.890 719 701 Net Book Value At 31 Au8USt 2023 45,905 19.271 49 5.826 71,199 At 31 August 2022 44,330 8,759 43 6,628 167 59.927 bl School Land Projects In Proiress Sports Equlprnent FIMtures Flttinus & Egulpment £'ooo Motor Vehlcles Total BulldlnBS £'ooo E'OOO É'ooo Cost At I September 2022 Additions Tr3n5fer5 Disposals At 31 Augv5t 2023 64,705 42 4.315 1,1881 67.873 8,75Y 15,139 14,6281 722 37 16,548 279 313 779 75 91,513 15,572 151 11,2051 849 105.881 19,271 759 17.129 Deprecration At I September 2022 Charsed for the period Disposals At 31 August 2023 20,378 2,368 17771 21.968 9.967 1,375 181 11.333 612 95 31,637 3,868 17911 34.713 30 710 701 Net Book Value At 31 August 2023 45,905 19,271 48 5,796 71,167 At 31 August 2022 44,330 8.759 43 6,577 167 59,876 The above asset5 are all used in thè furtherance of the Charit￿5 objects. Page31 ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 TANGIBLE FIXED ASSETS Icontlnuedl Revaluatlon rese The net carrying value of the School's freehold land and buildin8s of £45,905k12022.. £44,330kl are held at deemed cost based on a valuation carrled out by GVAGrimley International Property Advisers in August 1999, who prepared Existing Use Valuation5 on each of the two Schools, adopting a Depreciated Replacement Cost basi5 for the Abingdon site and boathouses. This gave rise to a revaluation reserve of £12,576k12022.. £12,576kl. Had the land 3nd buildlngs been Included in the accounts at hlstorlcal cost, the net book value would have been as follows.. 2023 2022 Cost Accumulated depreciation Historiral net book value 55.297 119,4221 35￿75 52,132 117,0541 35,078 INVESTMENTS Th¢ Charlty's investments gre as follow$.', 2023 2022 £'OOD Listed investments, at market val¢Je Cash awaitin8 re-investment 1.465 12 L478 17 IA95 1,603 ioi 1,703 30 1.733 Unllsted investments Investments The carrylng value of Abingdon school Enterprises Ltd is £1. Investments The movement during the Veèr on investment5 and cash Is shown below.. Unrèstrlcted Aestrlcted Permanent endowment Total £'ooo At I September 2022 Transfers Additions Oividerid5 received Cash withdrawn Cost of fund rnanagement Unrealised gain At 31 August 2023 473 566 693 1,733 36 20 Izoii 36 58 12781 16 1551 22 1221 161 1231 665 iioi 4Z4 1481 1.495 406 Page 32 ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 INVESTMENTS Icontinuedl The historic cost of ihe Investments lincluding cashl is £1,452k 12022.. £1,639kl, Included in the investments are overseas investments wlth a market val￿e of £1,117k12022.. El,273kl. Investment In subsldlary The investment Tn Abingdon School Enterprises knmlted represents ILYJ% of the Share capital of that company. The eompany is registered the UK and operate5 a lettings, sports and leisure buslne5s. The registered Dffice ts Ablngdon School, Park Road, Ablngdon, Oxon, OX14 IOE. The results of this entlty are consolidated into these financial statements. The investment the sub5idlary is elirninated on consolidation. The results of the subsidlary are dixlosed In Note 17. io. DEBTORS GROUP 2023 E'OOD 5CHOQL 2023 É'ooo 2022 £'ooo 2022 £'ooo Sundry debtors and prepayments. Fee5 and extras Amounts due from Sk*bsidiarv 1.453 454 1.438 377 67 IA82 831 330 83 1,245 386 1.907 1,230 ii. CREDITORS.. AhAOUNTS DLIE WITHIN ONE YEAR GROUP 2023 f'OOO SCHOOL 2023 £'ooo 2022 £'o 2022 £'ooo Fee5 received in advance Trade creditors Other tax and social security credttors Sundry creditors and accruals Acceptance deposits Revolvlng bank credit facility 2,038 927 715 1,159 511 2.000 8.351 1,890 664 672 1,476 451 2,038 923 711 2.057 511 2.000 8.240 1,890 656 672 1,394 451 5,153 5,063 Sundry creditor5 and accrua15 include £1,282k12022.' £643kl for atcruèd works for capltal Projects. A secured revolving credtt lacllity of up to £3.5 million was arrangèd in the year to manage the workin capital requirements of the new building developments. The Credit faclllty incur5 interest at a rate tsf 1.4% over the 5terliMg oveinight index average rate. 12. CREDITORS.. AMOUNTS DUE IN MORE THAN ONE YEAR GIIOUP AND SCHOOL 2023 2022 £'ooo Acceptsnce deposlts . 2,878 1738 A￿ptsnCe deposrts repyesent deposlts taken at the time a pupil has been granted a place at the school and are refundable when the pupil finishes hls education at the schoDI. The deposits are allocated to redltois owed in less or more than one year according to when the pupll Is normally e¥pectEd to leave the School. Page 33 ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 13. ALLOCATION OF GROUP NET ASSET5 Flxed Asstts Investment5 Current assets less total Total 2013 É'ooo Permanent endowment Hammond 5egacy Land and buildings Expendable endowment Land arnd buildings rotal Endowment funds 665 665 8,861 8,861 1,918 10.779 1.918 11.444 665 Restrlrted funds 1,485 Unrestrlrted funds 60.389 424 19,904 50,909 Total 5¢hool 71,167 IA95 18.8261 63,837 5vbsidtary rese￿e$ 31 290 321 Totsl Group 71.199 1,495 18,5361 fj4,158 Fixed Assets Investments Current assets less total Totsl 2022 E'OOO £.￿0 £'ooo Permanent endowment Hammond legacy Land and building5 ExpehdablE endowment Land and buildSngs Total Endowment lunds 693 693 9.093 9,093 2,046 11.140 2,046 11,833 5Y3 Restrlcted funds 566 636 1,202 Unrestricted lunds 48.736 473 1.619 50.828 Totsl 5¢hool 59,876 1,733 1255 63.863 Subsidiarv reserves 51 ios 156 Total Group 59.927 1,733 2,360 64,020 Free resefves12023:1£9.190kl, 2022.. £2,197kl are defined as the unrestrlcted elements of Investments and Curreat assets le55 total liabilitle5, Page 34 ABINGOON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2023 14. FUNDS 8alanc• 31 August Tran5fer5 2022 In¢ome Expendtrture Invèstrnent loss Balance 31 August 2023 2023 £'ooo £'ooo Permènent Èndowment Hammond legacy Prize funds Land and building5 Expendable endowment Land 3nd b￿llElIngS Totsl Endowrnent fund5 693 1221 Z2 161 1231 665 9.093 12331 8,861 2,046 11.833 1291 13671 1,918 11.444 1231 Restrlrted funds 1.20Z {2191 iiyoi iisi IA85 Unre5tr1cted funds 50,828 241 32,150 13¥011 iioi 50.909 Total School funds 63.863 32.820 13l7981 1481 63,837 Subsidlary reserves 156 i.lso 19861 321 Total Group funds 64.020 34.160 133.9741 1481 64.158 a¥lance 11 August Transfers 2021 Income Expend4ture Investrnent 8ain Balance 31 August 2022 202Z £'ooo £'ooo £'ooo £'ooo £'ooo Permanent endowment Hammond legacv Prize funds Land and buildlngs Expendable endowment Land and buildings Total Endowment funds 758 1181 19 171 159 693 9,326 12331 9,093 2.175 12,259 11291 13681 2,046 I1￿33 1181 iy 1591 Rè5trkted funds 951 11121 478 1861 1291 1.202 Unre5trirted funds 48.715 130 30,783 128.7571 1421 50.828 Total Sthoul fvnds 61.925 31,280 129.2111 11301 63.863 5ub51dSary reserves 32 1,065 19411 156 Total Group funds 61,958 32,344 130.1521 11301 64.020 Page 35 ABINGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2013 Th* Hammond lègacy is an endowment invested to provlde income for bursary and other sUPPOrt. The income from eèch year 15 then transferred into unrestricied to provide funds for the school. Restricted funds are to providÈ for the Ion8 term future for the School and to provide ftindsfor bursaries nd scholarshlps at the Governors, discretion. The additions in the year are either for bursaries and scholarships or areas specified by the donor5. 15_ CAPITAL COMMITMENTS- GROUPAND SCHOOL Capital commitmèn15 as at 31 August 2023 totalled £2,432k 12022.. £16,916kl. 16. OPERATING LEASES-GROUP ANO SCHOOL At 31 August 2023, there werE Outstanding comrnitmentsfor future minimum lease payments under non- cancellable operating leases, whlch fall due as follDw5'. 2023 £'ooo 2022 E'OOO 48 34 Withirn one year W*thin two and five years Over five years 34 82 17. ESULTS OF THE TRADING SLIBSIDIAAV The School owns a non-charitable trading subsSdlaryi Ablngdon School Enterprise5 Lirnited. re8isterÈd company number 4442429, which operates as a retail and IEtting5 business and distributes any taxable profits to the school under Gift Aid. The tradins result5 for the subsSdlary are Shown below.. ZOZ3 E'ooo 2022 £'ooo Profit and Loss Accoynt Turnover Cost of sale5 Gros5 profit 1.150 12801 870 1,065 12471 818 Cost of administration Net Ilossll surplus 17061 164 16941 124 8alance Sheet Total asset5 499 11781 321 330 11741 156 Called up share capitgl Profit and Loss account a21 321 156 156 Included within c05t ol administration Is £20k12022.. £20kl charged by the Charity to Abingdon SchoDI Enterprises for use of the Arney Theatre. This charge ha5 been eliminated on consolidation. The net liability of the trading subsidlary owed to the Charity as at 31 August 2023 was £67k.12022.. £83kl Page 36 ABINGDON 5CHIXIL FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 AUGusf2023 18. NOTESTO ThE STATEMENT OF CASH FLOWS Reconciliatlon of npt incoming resources to net cash geNe¥ated from operation5 2023 2022 £'ooo Net movement offunds InvE5tment income Finarnce costs Oepreciatlon charge5 L05s on disposal of fixed assets Iprofitl on disposal of fixed assets (Proceeds) on sale of fixed a55ets Decrease/lincreasel in stocks Ilncreasellde£re35e in debtors Intreaselldecreasel in creditors lexc capitsl credltor movement) Loss/lGalnl on investments 138 11181 53 3,885 414 2.062 1721 27 3,769 104 181 16771 1,339 48 79 602 130 Net cash generatéd Irom operatlons 5.076 6,694 PENSION SCHEMES Teacher5. Penslon S¢heme The School participates the Teachers. Pension Scheme 1.the TPS-I for its teaching staff. The pension charge for the year includes contfibuiions payable to the TPS of £2.557k12022..£3,037kl. At the year-end the￿ were no unpaid accruals in respect of contributions to this scheme. The TPS is an unfunded rnultl-employer defined benefits pension scheme governed by The Teachers, Penyons Regulations 2010 las 3mendedl anLI The Teachers. Pensioll Scheme Regulations 2014 las amemdedl. Members contribute on a 'pay as you go" basi5 Wlth crintrlbutions from member5 and the employerbeingcredited to the Exchequer. Retirement and otherpension benefits are paid by public funds provided by Parliament. The employer contrlbutlon rate 15 set by the Secretary of State followlng scheme valuations undertaken by the Governrllent Actuary's Department. The m05t recent actuariBI valuation ol the TPS applicable d¢j￿ng the year was prepared a5 at 31 Maich 2016 and the Valuation Report, which wa5 published in March 2019. confirmed that the employer contfibution rdte for the TPS would increase frorn 16.4% to 23.6% from I September 2019. Employers are also reouired to pay a scheme admlnistration levy of 0.08% givirg a total Employer contribution rate of 23.68%. Since the end of the financial year, in October 2023. the new actuarial valuation of the TPS 85 of 31 March 2020 was published. As a result of thls, the employer contribution rate for the TPS will increase by 5 percentage points from l Aprll 2024. The 31 March 2016 Valuation Report was prepared ill accordance with the benefits set out in the scheme regu1ationsand underthe approach Specified in the Dirertlons, as they applied at 5 March 2019. However, the assumptions were considered and set by the Department for Educalion prior to the rLtlinB in the 'McCloudlSargeant case,. Thls case has required the courts to consider cases regarding the Implementation of the 201S refoim5 to Publlc Servlce Pensions including the Teacher5, Pen51ons. On 27 June 2019 the Supreme Court denied the government permissSon to appeal the Court of Appeal's judgment that transitional provisions introduced to the reformed pension schemes 2015 gave Tise to unlawful age discrimination. The government is resperting the Court's decision and has said it will engagé fully with the Employment Tribunal as well as employer and member representatives to agree how the Page 37 A8INGDON SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2023 distriminaiiors wlll be remedled. The government announced on 4 FebTuary 2021 that it inreTrds to proceed with a deferred choice underpin under whlch rnembers will be able to ch005e either legacy or reformed scheme benefit5 in respect of theirservice durin8 the period between l Aprll 2015 and 31 March 2022 at the point they become payable. The TPS Is subject to a cost cap mechanism whlch was putin place to protecttaxpayers agalnst unforeseen chat)ges in scheme costs. The Chief Secretary to thèTreasury, havlng In 2018 announced that there would be a review of this cost cap mechanism, in January 2019 announced a pause to the cost cap mechanism following the Court of Appeal's ruling in the McCloud/Sargeant case and until there 15 certainty about the valuo of pensions to employees from Aprll 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes to the c05t control mechanism following review by the Government Actuary. FollDwing a public consultation. the Government have accepted three key proposals recommended by the Government Actuary, and are aimln8 to implement these changes in time for the 2020 valuation5. In view of the above rulings and decisions the assumption5 Used in the 31 March 2016 Actuarial Valuation may become inappropriate. In th15 scenario, a valuation prepared in èccordance with revlsed benefit5 and sultably revised assumption5 would yleld different resultsthan those contained the Actuartal Valuation. Until the cost tap mechaTrism revision 15 completed It is not possible to conclude on any flnancial impact or ftsture changes to the contribution rates of the TPS. Accordingty no provlsion for any additional past benefit pension costs Is included in these financial statements. Non-Teacher< Penslon Schemes The School also runs pension schemes for it5 teaching and non-teaching staff, whlch are all defined contributions schemes. The costforthe year of £735k12022'. £526kl represents the Charity's contributions to these schemes and there were no unpald contributions outstandlng at the year end. 20. RELATED PARTIE5 During the year donations were received from Governors totalling £1.92012022: £1.9101. During the year, the Sthool purchased usage of 7llsley Park toralling £59k12022.. £66kl from the wholly owned subsldlary undertakin& Abinsdon school Enterprise5 Limited. At the balance sheet date, Ihe subsidiary owed the school £67k12022.. E83kl. 21. FINANCIAL INSTRUMENTS 2023 2022 £'ooo Carrying amount of flnancial assets Financral assets at fair valuè rhrou8h Income or expend*ture IA95 1,733 Page 38