2021-08-31-accounts

THE GODOLPHIN AND LATYMER FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUCUST 2021 Company Registered Number.. 3598439 Charity Registered Number. 1073924

THE GODOLPHIN AND LATYMER FOUNDATIOIY FINANCIAL STATEMEKrs FOR THE YEAR ENDED31 AUGUST2021 CONTEiYrs Page Company infomation Trustees. Report Report of the independent auditors 10- 12 Consolidated statement of financial adiviiies 13 Group and Foundation balance sheets 14 Consolidated siatement of cash flows and nthe5 15 Notes to the financial staiements 16-33

THE GODOLPHIN AND LATYMER FOUNDATION COMPANY INFORMATION FOR THE YEAR ENDED 31 AUGUST 2021 Status and Admintstr•tlon T￿ Godolphin and Latymer Foundati¢m {'the Foundation.) is a company limited byguarantee without having share capital (registered number 3598439 and charity number 1073924). Dlrectors, Members Trustees The following served during the year end¢d 31 Augusi 2tr21 a￿j sirtce the year end: Mr5 A J Paines (Chair) Mrs P Bose Roberts (retired 31.08.2021) Mrs J Collins (retired 31.08.2021) M5 S B Davie$ S A Davies M L Esiri {appointed 15.06.2021) G E Fendl¢y TJHoweQC Mrs S J Kinross K G Knibbs Dr L Magrill N McLaughl#n (apFKiinted 01.09.2021) Ms T Meller Pmfessor Geraint Rees (retired 31.082021) Mrs D Rose MTS K S Slesinger O F H Waring MTS E T Watson Secretary Mrs D M Lynch Registered Offi¢¢ The Godolphin and Latymer School lffley Road Hammersmith London W6 OPG Bankers HSBC plc, 21 King's Mall. London W6 OQF Audltors Haysmacintyre LLP. 10 {￿tt￿ Street PlaK London EC4R IAG Soliettors Veale Wasbrough. Orchard IAne. Bristol BSI 5WS Inveytment Advtsers Quilter Cheviot. St Helen's. l Un(lershaft London EC3A 8BB Insiirers Marsh Brokers Limited. 9-17 Pe￿Ount Road. Hayyards Heaity West Sussex RH16 3DU

THE GODOLPHIN AND LATYMER FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The directors, who are also trustees of the charity for the purposes of charity law, present their ann￿[ reprt under the Companies Act 2006. together with the audi1ed finan¢ial StateTh￿nts for the Foundation for the financial year and ¢onfimi Ihat the financial staiemenis comply with the requirements of the A￿ the Foundatioft's governing do¢ument, appli¢abl¢ law and Siatement of Recommended Practice: A¢wintin8 and ReFKJrtin8 by Charities applicable io ¢harities preparing their accounis in accordanc¢ with the Financial R¢porting Standard applicable inthe UKand Republic of Ireland IFRS102) (Second Edition, effectiv¢ l January 2019). In addition to this rewL the dirwlor5 prepare a detri1￿ repon io accompany the finw)cial Sla￿Ments of the Godolphin and Latyiner Schi)ol (regisiered charity number 312699) of which the Foundation 15 th¢ sole mJste¢. This typort contains summary inforniation about the Foundation in that role in order to provide an appropriate record of all the Foundion's functions during the year. for a fullcr accounl, however. of lh¢ Foundation's operntiots of the Godolphin and Latyrner School, the dire¢iors refer lo th¢ir report filed in rtlation to charity number 312699. STRucfuRE, GOVERNANCE AND MANAGEMENT Constitution The Foundation was incowated as a company limited by guarantee on 15 July 1998 and registered as a charity on I I February 1999. 1¢ 15 governed by ils memorandum and articles of asxKi8ti(Mi. Strn¢ture The Foundation has a dual function: it ¢ontinues to acl, as it has done since 1999. as the Sole Tru￿Ce of Godolphin and La¢ymer School (r¢8iStered Charity number 312699): then. on I Sewember 2020, the Foundaiion merged wilh Redcliffe Sch￿1 Trust Limited. charity registration number 312716, (with thai rnerger being recorded on the Charity Commission register of meTgers), and ihe Foundarion in consequence took over the operation of Redcliffe School. which, from Sepiember 2021. became forn￿llY known as Godolphin and Laiymer Re(kliffe Garden5 SchcM)l. On a day to day ba5lS, the iwo schools eoniinued to operaie separately - Godolphin and Laiymer School as a leading a￿deMiCallY sel¢dive secondary school for girls, ond Redcliffe Gardens Schwl Ls a well-estsbli5hed Coveducational prepardlory ￿hth)I. Trnsleej The Truste¢s of the Foundation during the year. and up io the date of signing of the accoun￿ are shown on page l. They are also the directors of the Foundion in Its corporale eapaciiy and are ¢olloquially are referred to as Governors of the Iwo schools. In addition. the Trus1￿5 of ihe Foundatioo are its cornpany members. each agreeing to ¢oniribu(e of up to £1 on the winding up of the Foundation. The Foundation's ¥rticles of a550¢iaiion tKovide for a board of not more ihan Dineteen GovernoTS (CoaOP(ed Governors). including two who are paren15 of pupils ai the Godolphin and Latymer Sch(KTrl (Parent Govemors}. iogether with one Governor. nominwed as an Heir of Sir William Godolphin (the Nominated Governor). Parent Gov¢mors are apwinied by ihe Governors for four years or until they no longer have a child in the Godolphin and Latym¢r School. whichever is the lesser t¢rni. They may subsequently be appoimied (and re-appoinied) under the ordinary provisions relating lo Co-opted Governors. Iheir prior S¢Tvice as a Parent Governor being disregarded in r¢lation to their perniiff¢d tern￿ in post. All other Govemors are apEKTrint¢d for four-year ternis by resolution of the Governors in Offi￿ at the lime. The Nominated Governor is eligible for reappointment without limit. Ciwted Govemors are eligible for reappointment for a fvrth¢r terni of four years and. in exceptional circumstances, for a further four-year le￿ or i¢m)s.

THE GODOLPHIN AND LATYMER FOUNDATION TRUSTEES, REPORT (¢ontinued) FOR THE YEAR ENDED31 AUGUST 2021 Goyerllance and Management Th¢ Governors. a5 the Tn￿teeS of the Foutthtion. are legally reS￿nSIble for the overall management and control of the Godolphin and Latymer Sch(M)l and th¢ Rethliffe Gardens School. and m¢eL a Minimu￿ during each school tem). D￿lO•daY managemenf The day-to4ay education and pastornl ¢4re of pupi]s and the appointh)ent and management of teaching StstT￿ Godolphin and Latymer School is dele8ated to the Hea<L Dr Frances Ramsey. Sup￿rted by Mrs Anna Paul. Senior Deputy Head Pastordl. and Dr Sard Hamett, tkputy Head Academic. At Redcliffe Gardens sc1K￿l. th¢ Head Mr Benedia DutthilL is supp)rt¢d by the Dep￿Y Head. Mr$ Sorah Glen¢ross. The Redcliffe Gardens School Head reports ¢0 the Head of Godolphin and Latym¢r School. Responsibility for th¢ non-leaching staff and for the fina￿la1 ￿￿￿gement and supN)n functions at both schools is delegated to the Bursar. Mr5 Diana Lynch. The Governors eonsiderthatthey, together with the Gcthlphirt al￿ Latymer School Headand Deputy Heads and the Bursar comprise the Key Management Personnel. The Governorn give of their time frttly. The pay and remuneralion of the Key Manag¢m¢nt Per50nnel i5 S￿ by the Senior Salaries Committ¢¢ and is kept under annual review. A number of criteria are used in Setting pay: nature of the rol¢ atid responsibilities,. comwitor salaries in the region. the sector average salary for ¢omparable positions; and trends in pay. In re¢¢nt yeaTS, flexible pay in the sector h&$ affe￿¢d the ease of recruitmertt to ¢¢rtain role5; the Senior Salaries Committee iniends to be in the upper quartile for prty for xnior rojes in the indepertdent school sector. The Govemors have estsblished board committees with specific objeciives; a minimum of Thvo Governors sit on each committee. As appropriate, these conllnittees either pass down d¢¢i$ion5 to the executive managem¢nt under delegated authority from the Govemors or refer rnatters for decision to the Foundation's board. The principal Gommittees ar¢". The Policy and Governan¢¢ Cornmittee: this comwises the rhairs of all the ￿her commitre¢& tog￿ber with ihe Chair and Deputy Chair, so ls to ensure a common understanding of the major issues itw both s¢hoo15 face and to co- ordinate a consistent approach to these ￿tweeft th¢ Governors, commitLees and th¢ Godolphin and Laiymer School's Senior Lead¢r5hip Team. The Committee also rewmmend5 appointments of Gov¢moT4 the Chair and Deputy Chair. and c￿SiderS membership of Governors, committets. Th¢ Finance. Audit and Investmeni Commi¢lee.' this Committe¢ meets terrnly to assem the financial position of Godolphin and Latymer Sch￿1 and R¢(kliffe Gardens School and to review the capitsl and operating budgets. ¢ash fowasts, managernent accounts, audit¢d account& the annual r¢￿rt for pr¢sentation w the Governors. The Health, Safely and Risk Management Comrnillee: thi$ has r¢sponsibility delegated from the Foundation's board to identifyand r¢vi¢w any majorrisks associ￿ed with the Foundation itself and ILS OtrationofGodolphin and Latymer School and Red¢liff¢ Gardens School. The Dev¢lopmenL CommuniC￿lOn$ and Alumnae Relations Committe¢". thi5 commiitee principally Works with the Godolphin and Latymer School's DeY¢lopm¢ni Office. which rdises fimds for buT5aries and &ldiiional fa¢iliti¢$ for Godolphin and Latymer sch￿1. and mahnfain5 wntact with its ￿uMn¢- the Old Dolphins. The Education Committ¢¢'. this is ¢stablished in relarion to Godolphin and Latymer School and considers matters relating to the curriculum. and. more widely. to teachi￿ learnin8 and pastoral mallers 8en¢rdlly. The Prep School Committee.. this oversees ihe continuing integration of Redcliffe Gardens School into the Foundaiion's 8oveman¢e and management. and all matt¢rs relating to Redcliffe fjard¢ns Sthool's ongoing operacion and development (including teachin& learning and p05toral matters).

THE CODOLPHIN AND LATYMER FOUNDATION TRUSTEES, REPORT {¢ontAnlled) FOR THE YEAR ENDED31 AUGUST 2021 Recryitmexi andiraining ofGoverntYS Before se¢kin8 new Governors. the Poliey and Govern#n¢e Commillee will be guided by the Televant competence, experien¢e and specialist skills sought by the FoundioD'S board from new Governors. New Governors are appointed only after inierview by the committtt and after consid¢ration of the committee's findin85 by all Governors. Vacancies for the position of Parent Governor are notified io all ¢urreni parents. and candidates ar¢ interviewed and assessed under the same crit¢Tia &8 for Covopted Governors who or¢ not Parent Governors. but taktng account of the potential conflict issues. Aftcr appointment, all new Governors undertake an induction programme and are given appropriate guidance on all aspects of the operations of both schwls and iheir own role ond rtsponsibilities. access is provided to outside courses on Truste¢ship and related matters. Principolrisks Iwd ¥n¢ertainlies The Governing Body ts responsibk for over5ttirtg the risk managemeni pr￿¢$5 conducted at Godolphin and LAtymer School and Redcliff¢ Gardens Sch(N)l. Review of risk is delegated to the Health. Safery and Rt5k Management Committee. The H¢ad of G¢)dolphin and Laiymer School. Bursar, tksignated Safeguwding Lead for Godolphin and Lotymer School. Senior Teacher (School Organisation) at Godolphin and L4tym¢r School and th¢ Assistant Bursar{Compliance) att¢nd and inforni this committe¢. A fornial review of the m•jor risk8 (including reglllatory and Compliance nvltters) for each schLKTrI is uJ¥Jenaken annually by.. Glxlolphin and Latymer School- the Head Bursar, Lkwty H¢ad& the Senior Leadership Team and the A55iStarf Bursar {Compliance)- Redcliffe Gardens ￿h￿1- the Head of G(thlphin and Latym¢r School. the Butsar. the Head oThJ tkputy Head of R¢dcliffe Garden5 SclKJoI and the Assistam Bwsar (Compliance). Sysms and procedures that control and miiigate risks are considered and discussed as ne¢essary. The r¢suIt5 are then reviewed and di%u55ed further by the Healih. Sof¢ty and Risk Ma￿Sement Committee before being reported to ihe fvll Governing B(wJy. The Governors have assessed the rnajor risks io which th¢ schools are exposed a￿1 are satisfied thai systems are in place to miiigaie earh school's exposure to the major risks. Such risks and eonirols are reviewed on a regular b&sis in order io mitigate any itnpact rhat they may have on the schools in the future. The main risk5 that the Governors have ideniified for GI￿01phIn and Latyrner School and Rtdcliffe Gardens School are Iho% of.. The political climate of anlipathy towards itthwident schools. This gives rise lo a range of risks: from the purely finan¢ial, such as the potential loss of charitable reliefon business rnies- io the operional, should VAT be introduc¢d on schty)I fees (which would make them un#ffordable for many parents). and even the exisiential, such as the recent prow5al that independent schcK)Is should be abolished. and th¢irassds redistributed. li is diffi¢ultto identify effective control measures, but ihe schoo15 coniinue io WOTk with the Ind￿ndent Schools Council and other representative bodies to defend the charitable 51atus of independent schools and publicise the positive ¢ontribuiion they make. The Foundation is also looking forway5 to reduce c05f5 {in a way consisieni wilh maintainingthe school's high standards), generate addition￿ income and ￿ndraISe in order t(> offsei the wenlial financial IM￿1. The potential danjage to reputation. The schools, successes are built on repuiaiioD for the education and wellbeing of pupils. The key controls inclLkde the maintenance of high au(kmTrc sthndards within a disciplined but friendly aimosphere, Ihe close moniloringof majorrisks and a review ofall areas of school life. strong pastoral communication and action (both pre•emplive aThJ reattive) and a strongrelation5hip with paren￿ andthe wider community io mitigate )ieniial irnpact. The public profile of the schools is monitored. and public relations adviseTS in reputation and crisi5 manag¢meni have been appoinied. In addition. a filrther risk has be¢n identified in relation to Redcliffe Gardens Sch(M)l. being a reduction in pupil numbers leading 10 loss in revenue and cash reserves. Pupil numlr movemen15 are closely monitored and in¢T￿ed mar8inally during the year. The Governors aTe addressing way5 in which ihe school'$ change of ownership and leadership, and ¢onsequ¢ni enhancement of leaching and leaming. can best be marketed to attract pr05P¢Ctive parent5 and pupils including the renaming of ihe school as 'Godolphin and tatyner Redcliffe Garden5 khool. from SeNemb¢r 2021. The risk is currently assessed as being manageab5e.

THE GODOLPHIN AND LATYMER FOU]YDATION TRUSTEES, REPORT (¢ontlDued) FOR THE YEAR ENDED 31 AUGUST 2021 Tht Godolphin and Latymer Seb￿1 Bursary Fund The Godolphin and Latymer School Bursary Fund 15 a separatr chority (¢haritynumber 1187911) aims ofwhich include the advan¢¢ment of the charitabl¢ objects of the Foundation. The Godolphin and Latymer BuT5ary Fund makes sums available to the GLhJolphin and tatymer School each yearto enable Ihe s¢hool io supplement the means-tested bursaries ihat it awards. it has a150 loaned funds to th¢ Godolphin and Latym¢r Sch(K)l and to the Foundation ift respect of Redcliffe Gardens School at commercial rates of interest to help fvnd development of the school's hcilitie5. The Governors appoint two m￿treS of the Bursary Fund's board, and other Governors may serve as trusttts provided Govemors do not consiitute the majority of the Bursary Fund's board of trustees.. conflicts of in¢¢re￿ and loyalty are appropri¢ly identifiedand managed inrelation ￿the Bursary Fund's decision- making. OWECTIVLS AND ACTIVITILS Objects The 'Obje¢t' of the Foundation is io advance the edU￿10n of the public, under which it is empowered to Provide for the tnstru¢tion of the schools. pupils th¢ir'spiritual. moraL mentsl and ph>sical training.. Aims The Foundation's overridin8 aim in relation to each school 1$ ¢0 provide thepupils with an outstanding educaiion. Through the lessons and activities in which they participate. th¢ pupils learn for life. They develop habits of mind that promote curiosity and initiativ¢, intellectt￿l rigour and indep¢nd¢nce ofthou8hi r¢fl¢¢tive learning and flexible thinkin& the ability to maintain an open mind and to reach a balanced judgement. Ai both schools it is recognised th all the pupils are differenL the aim is io provtde each one with a stirnulating and enjoyable education. The 5¢hools offer an exciting range of iniel1e¢tt￿1. ¢reative and physi¢a] cha]lenges and opportunitie& encourdging the development of individual passions and Wicular skills alongside the self-esteem and onfidence with whÈch to succeed in unfamiliar situalions. In accordance with the schools. history of providing education for pupi]5 from a wide rdnge of backgrounds. an enri¢hing and inclusive atmosphert is created. Within these principled, caring friendly communities, pupils learn to lead, io work together for mutual benefi( to communicate clearly and to fiyrge firrn friendships. The school$ en¢ourage pupils io learn aix)u¢ local, national and global issue& from which they ￿lIeVe ihey be￿rne considerate, ¢ompassionate and courageous young adults who fully expect to thke activ¢ reswisibility for the community and the environment in which they live. &% well a5 for themselve4 iK)th now and in Lhe future. ObJe¢tives for the Year Principal Activity In ih¢ yfdr, the principal aeiivity of the Foundation, oimting in its own righL was running Redcliffe Gardens School which provides a day education for boys and girls aged two and a half io elev¢n. The school is Djn from two 5ite5 at 47 Redcliff¢ Garden& LAindon and St Luke's Church. Redcliffe Gardens. The aim 15 to nurture every child to maximise their pot¢niÉai ihrough a combination of academic excellence. innovative enrichm¢rtt andan individualis¢d 4)proath that equips pupils to ensure a successful se¢ondary edUC￿lon. In its capacity as its sole trustee. the Foundation also Godolphin and Latymer SchooL a se¢ondary School for girls. Godolphin and Larymer School offers a broad and balan¢ed academic curri¢ulum and extra•curri¢ular activities. where both are consideredto be ne¢ess8rycomponentsof a go(Klgeneral education. The academic curriculum include5 the option of the International Baccalaureale diploma The Godolphin and Latym¢r School seeks to chall¢nge the girls intellectually and to encout7ge independent thought. by making available to them a wide range of athic and non-ocademtc opportunities. including outreach programmes which provide involvement Wit￿ and support to. th¢ wider communsty. As already noted. more extensiv¢ inforn)aiion on Godolphin and Latymer School 15 included in the Foundation's report a¢¢ompanying the financial siatements of ihe Gtyjolphirt and Larymer School (registered charity rturnb¢r 312699). Publie Benefi¢ The Chariiies Aci 2006, having withdrawn ihe legal presumption ethi¢ation in itself offers benefitto the public at large.

THE GODOLPHIN AND LATYMER FOUNDATION TRUSTEES, REPORT {eontinu¢d) FOR THE YEAR ENDED31 AUGUST 2021 pla¢ed an obligation on th¢ Foundation to demonstrate that it Emvides'Public Benefrt, as part of its provision of edu¢aiion a5 8 charity in a fee-ch#rging environmenL In setting each school's ObJ￿IlYeS and in rheir ¢4abltshment of rnanagemeni of each schooL ihe Govm)ors have paid due regard ¢0 the Public Benefit 8uidance published by the Commission. Grnnt Maklng The Governors re¢o8nise that inde￿tht school fee5 are * levels which may exclude rnany children from applyin8 for a place, but they ar¢ committed to wid¢ning access io the education offered. Accordingly, they advertise the availability of bursary awards. The value of any award is drferniined th a means-iested b￿1$ and reviewed annually.. at Redcliffe Gardens Sch(K>l. Foundation awarded 14 means-i¢Sted bursaries during the year io the value of £234.725 (2020= £Nil); at Godolphin and Lat)Tr¢r Schwl, the Foundation. as the Sole Trustee for the Go&)Iphin and Latymer School. awarded 83 mean54esl¢d bursaries during the year to the value of £1.490.646 {2020.' £1,403,329). The Governcrfs, objective 15 to coniinue to inCre￿e the number of b￿sf0mla1lODa1 I￿rSarleS available, and there 15 fundTaisin8 programme in place to facilitate this. Community ¥nd Partnership Lin Th¢ Foundaiion strives to be a good neighbour in ihe loc81 wider cornmunity. and ihe Govemors facilitate a¢c¢ss to lh¢ Sch￿]s. resources in ¥ number of ways.. Redcliffe Gardens School ha5 ¢ttjoyed a long traditi￿ of being an ￿1ve part of its local community.. Thc hire of the sPOrt5 facilities ai Ifiekl Road help5 inject funds inio lo¢al proieas forthe youth club and pupils are a¢liYe in local clubs swh as judo and Swimming. Ai its premises ar St Luk¢'s Church the playground is shared wilh the iocal ¢ommunity, m05t Te¢enily Afghan refijgees. Redcliffe Gardens School works wilh Plogolution CIC which has been granted charity staius and now operates as ihe Connecied Planet Foundation. they deliver assemblies and provide t-shirts and litter picktTS to the sch¢)01'5 Ploggers. Wiihin ihe widercommunity. pupils and staff pick up litter in the local area once a week in the Plogging Club and ihe School raises awareness and money for ¢harities such as the Poppy Appeal, Royal Naiional Lifeb)ai Snsiilution, Water-Aid, Uniid World Schools, Shooting Star Chase. Chelsea & Westminsrer Children's Hospitsl. Grear Orniond Street Children's Hospital. Redcliffe Gardens Sch￿1 also supports a number of charities to help raise awareness of local, national aThJ global issues including United World Sch(M)1s who visiied th¢ school io explain how the money we fijndraised is pui io use: classes adopied rhinos aThJ snow leopards through the WWF. Harvest As%rnbly, Remembrance Day Assembly and book donation% to charities. The Battersea Cats & Dogs Home was Redcliffe Gardens Sch¢)01'5 chosen charity this year. Year6 purchased items forthe homeles5 U5jrtg their own pocket money; rhere was a whole school collection for Kensingion & Chelsea Food bank during Harvest Festival; pupi15 helped out with cooking for the Night Shelter and on Iniernaiional Day parent5 carne io talk aboui their owrt countrie5 and cultures. At Godolphin and Lat￿ S¢hwl: th¢ Foundation, as the Sok Trustee of Godolphin and iAtymer Sch¢x)l. supports a full programme of rneaningful, mutually4)eneficial partne￿hipS with organisations includin8 the volunl8ry traching by our siudents of ¢hildren in local schools, charithble fundraisin& acce5$ 10 sports, rnusic and drama facilities to local primary schools. and work with elderly people. This programme is a cor¢ element of ihe broad, enrichirtg education offered at Godolrthin and L8tyTner 8nd shaTts importan¢e with the ￿h0o1,$ fornMI, timetabled curriculum. The Bridge programme is an acad¢mic enrichmeni pmgramme for Year S girls and boys from local primary schoo15. The first year of ihe rmgrdmme Concluded in tk¢ember 2020. It w&$ particularly

THE GODOLPHIN AND LATYMER FOUNDATION TRUSTELS, REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2021 pleasin8 thai five of this first ¢ohort of44 pupi]s were successful in applying for place5 ￿ Godolphin and Latymer at I l+ and that three will b¢ joining the school a5 Year 7 pupils in September 2021. Other Bridg¢ childTrn were success￿1 in gaining bursary places aE other independent ￿h()1$. Informing families about 5u¢h OPFKJrtuniti¢s remains a key element of the pro8ramme. Further details of th¢ ¢xien$ive community and parthership links and other public b¢nefit a¢tiviti¢5 of ¢he Godolphin arKI Latymer School are reported in the Foundation's report accompfynying the financial statements of th¢ Godolphin and Latymer School (regi5t¢red chariiy number 312699). Achievements and Performanee The Governor5, objective for the year at Redcliffe Gardens School been to provide a high stsndard of preparation for the next st¢p in ¢a¢h Child's education, providing the widest possible edu¢ational facilities and (kvelop a number of extra- curricular prograrnmes. By way of example of this approxh.. Education for Social Responsibility (ESR) and SpirituaL MoraL Social and Culiural d¢velopment (SMSC) are woven throughout th¢ ¢Y￿1¢u1uM and provide the children with an all-round a¢ademi¢ and socia]. mordl and cultural education to pr¢par¢ th¢m for both their next school and life beyond. The Personal So¢ial Health Cultural & Economic Education (PSHCEEI scheme of WOTk includes elements of health and wellbein& including Growth Mintht. R¢lationships; Living in the Wider World" Fundamentsl British Values. The United Nations Global Goals are laughi in Year 4, 5 and 6. Years 4, 5 and 5 also study Life Below Water. Good Health and Wellbein& Clean Watrr and Sanitation. Reduced Inequalitie4 Sustainable Ciiies and Communitie& Affordable and Clean Energy and CliM￿e Aaion. In March 2021. the Child￿ l¢arned the c¢nsu5 in their Maths lessons. Each Cl￿ then eondu¢ted their own 'counts' on the theme of 'Thi$ Matt¢TS to U5, and Cr￿ed data chafts to forni a display. The display wa5 entered into the Let's Count Census 2021 wmpetition and leaflers reminding parentslearers to fill out the census were handed out. The pupils take part in M8th5 We¢k England and m￿hS Week London ¢a¢h year. participating in online workshops and enwing ¢omwitions through the'sumdog. plaiforni. S¢hwl trips have included the Wetland Centre (ReceNio￿ Y¢gts 5 al￿ 6), Kew Gardens (Years l and 2), th¢ Garden Museum (Years 2. 3 and 4) and a residential visit to Swanage (Years 3. 4. 5 and 6). Various other core curriculum events took platt to engage the children's inierest in ¥pe¢ts of leaming which are additional to the rnain provision. Afterchool rlub5 have been held in both the lower and upper S¢1￿01 for activities including ball￿ sustainable f&shion, ¢h¢55, model makin& arts and ctafts. debating ortd COMp￿¢T cIKlin& Mu$1¢ ¢ontinues to play an importani part of school life. Piano, violin. cello, hary, guiw. flute, clarinet. recorder. singing, trumpet and horn lessons are available in addition to the music curriujlum. The pupils from all yearwups ¢nt¢rtd 8 nuTnberofcomwitions includirtg National Geogrnphic Plastic Pollution Awareness (awarded runner up). My Chelsea Writing Compeiition (awarded rurtn¢r up) and Take One Picture at Ihe National Gallery. The Foundation. as Sole Trwee of GINIol￿1tt and Latymer sch￿1. is committed to off¢ring a broad and relevant choice of 5ubjecis and the cutTiculum is k¢pi under regular review. Aside from the academie progrdmme, the year has been one of coniinued activity in Music, Art, lh¢ sciences Drami languages and stKJrt. Gixlolphin and Latymer Sch(x>l provides an enriching programme of educational visits including a range of lingui￿1¢ and cul￿ra1 exchanges. The pupils continue to participate in an exciting range of musical and drama ￿rfOrn1anCcs perforn)ed and pr(xlu¢¢d by pupils of all gates. Over 75 club5 and societies tske place on a weekly b&sis and the majoriry of them ar¢ org8nis¢d and by (he pupAls. Details of the exiensive curricular and wwricular offering and the publi¢ examin￿lon results of pupils are reported in the financial statements of the Godolphin and Latymer sch￿1. There have been oppommities for ￿lu￿tional collaboration beThY¢¢n the two sthools which have focused ort ytaff development and, where possible given th¢ restriaions resuliing from th¢ pandemic. opportunities for the ehildren.

THE GODOLPHIN AND LATYMER FOUNDATION TRUSTEES, REPORT (eontinlled) FOR THE YEAR ENDED JI AUGUST 2021 Members ofthe Godolphin and tatymer School SenioT LeadeT5hip Team have ￿)ntrIbuted to staff training at Redcliffe Gardens School on a variety of topics including safe8uardin& preparation for inspection, arml teaching and leaTnin& In Jun¢ 2021, the Redcliffe Gardens School children were able to come to the Godolphin and Latymer School site forthe fLr$t time for their Sports Day. &ssi5ted by the PE depament and Year 9 stlhdents from ihe 5¢nior school. FUTURE PLANS The Foundaiion will continue lo ensure that academic ￿andardS at Redcliffe Gardens School are as high as possible and that each individual pupil will flourish. Redcliffe Gardens School will ¢ontinue io iniegrate ever more closely wilh the Godolphin and Laiymer Sch¢x)1. 5cekin8 OPPOrtuiiities for mutually b¢neficial crossover which cart benefit teachers and pupils in both schools. For 2020-2021, the Foundation. as Sole Twstee of the G(thlphin and IAiymer S¢hwl, will foc￿ on developing the next phase of the 51te masterplan with a view io commen¢ing the next buildingdevelopment in Summer 2022. The development will enhance facilities for dining and for the Sixth Forni, improving the link5 between all areas of the 5iie. An ex¢iiing aspect of the plans is the provision of ¥ new librdry aTta ihai incorporates modern learning spaces with enhan¢¢d Higher Education facilities and a seminar ro￿. This new building will filrther support our leaching and learning strategy. providing a welcoming envir()nm¢M in whTch io promote bLrth collabffttive and IndeF￿dent karning. With the increase in transforniaiional bursary awards and the impad of the PaTKlerni¢ hi8hligh(ing the importance of the Godolphin and Latymer School's means iesied award& the 2021-2022 Annual Fund fundraising programme will f￿u9 on raising income for ihe bursary programme. The Foundation, across i)th schcM)Is, will continue lis mission fo emb￿lY its values and to develop key ¢haracteriMic5 in all of th¢ schools. pupiSs'. ConfKlence. Ctsriosiiy. Independence, Empathy and Self-belief. FI￿￿(11 Res¥lts The Financial Siatem¢nts for the year ended 31 August 2021 are published with this report. The Group had net income before investment gains and 105se5 during the year of £1.843.741 (2020.. £1.767.326). after providing for depreciation of £696,02412020.. £616.355). Of thi5 surplus. (£187,265) was attributable io Unrestricted FuDds12020.- £rtil) and £2,467,824 to restricted fiJnd$12020.. £2.199.939). £436.818 depreciaiion ¢xpenditure was allocated against the Endowment Fund in the year (2020= £432,613). Nd invesimeni gains attributable io Res(ricied Funds, w¢re £18,081 (2020.. £{8,488)), giving an overall Surplus of £1.861.822 before the transfer of assets from Redcliffe School of £3,977,239 (2020.. £1,758.838). The Goyemors have identified that contiTtuin8 surpluses wtll be required If invemmeni in the Group's activities and facilitie5 is io be maintained. and fee increases in the cuffent year, which continue 10 be reviewed annually, are intended to support ihis objeaive. Rtserves Policy The Governors regularly review ihe level and nature of ihe reserve fijnds of the Group. Funds held at the year-¢nd were as follows.. Unrestrided general fijnds: Restricted funds.. Endowmeni fund.. £3.552.103 £11.885.996 £12.364,404 Unreslrict¢d FuThls represeni the general funds of Godolphin and Latymer Foundation. The Re5trided Funds representgeneral. d¢5ignated and restricted fvnd5 ofGtylolphin and Latymer ￿h{JoI and the restricted fijnds of Godolphin and Latymer Foundation. Funds raised through Annual Fund (designated fund ofGodoltthin and Latymer School) areexpended c(xnpletely. nornially ring the current flnancial year. In previous years the Godolphin and Latymer Sch(M)l Found￿70n, a5 Sok Trnstee of the Godolphin and tatymer School has invested substantial sums in school buildings ai the lffley Road Sile. In furtherance of those development projects.

THE GODOLPHIN AND LATYMER FOUNDATION TRUSTEES, REPORT (¢ODtittued) FOR THE YEAR ENDED 31 AUGUST 2021 most of ihos¢ unr¢strithd general fijnds are now invesd in fixed ¥ssets. At the 2021 finoncial year end fre¢ reserves of the ￿0Up w¢re £(538,232) (2020:£Nil). Mangement of Investrnents Th¢ Gov¢moTS have appointed Quilw Ch¢viot &4 Investment Managers. The investsnent poli¢y is to produce apredictable l¢v¢l of incoTne from a low-medium risk portfolio invested in equili￿ c&sh and fixed interest sto¢k5, $0 85 to provide in¢oTn¢ to fi￿d school prizes. The Governors rec¢iv¢ quarterly repons from the InveSth￿nt ManageT5 and consider that perfonnanc¢ in the 202￿2021 year ha8 been wisfa¢tory. Fundrai$ln8 pr•dke$ 4nd performance The Governors are aware of the Charities (Protection and Social Investment) A¢t 2016 and recognise the importance of meeting the highest stsndards of pra¢tic¢ And Care in rel￿]0n to fimdraising a￿]VIll¢s. Currently these are fo¢used only on Godolphin and Lat)Ther Sch1￿)1. The Foundation. as Sole Tn￿(¢¢ of the Gi)dolphin and Latymer School. has signed up to the fimdratsing ¢ode of prnctice and has voluntarily r¢gisi¢red with the Fundraising Preferen¢e Service {FPS). The Godolphin and Latymer School Foundation is a member of the Institute of Development Professiona15 in Education and the Coun¢il for Advancement and Support of Education. The Foundatio￿ as Sole Trustee of the Godolphin and Latymer School. only rdiS¢S fimits from Old Dolphins parents. ￿aff and those with a personal conneciion to th¢ school and does rtot undertake fijndraising Campaigns io members of the publi¢. The Foundation considers the origin of un501icited dOn￿]OnS and I¢8￿1¢$. The Foundation. as Sok T￿ste¢ of the Godolphin and Latymer S¢hool. doe5 noi share or w￿hase any dorttsr data with or from third parties. In 2020-2021, the Foundation did not ¢ng8g¢ with indeFendeni professional fimdrai5ers. In 2020-2011 the Foundation did noi re¢eiv¢ any complaints in relation to fiEndraiSTng or raise any matt¢r wilh r¢gulators. STATEMENT OF TRUSTEES. RESPONSIBILITIES The TrusLees, who are also the Direciors of the FoUnd￿lOn for the purposes of company law. are responsible for preparing the Trustees. R¢porf, incorporating the straiegic report. and the financial statements in a¢¢ordan¢e with applicable law and United Kingdom A¢¢ounting Standards (Uniied Kingdom Generally Accepted A¢¢￿AtIng Practice). Company law require5 the Trustees io pYepAre financial statements for each firtoncial year which give a true and fair view of the state of affairs of the charirable company and group and of th¢ in¢omin£ resources and application of r¢sour¢¢s. including the income and ¢xpendiiure. of the group for thai p¢riod In preparing these financial statem¢nts. the TnLStees are required to.. select Suitable accounting p)licies and then apply them consist¢ntly- observe the methods and prin¢iples in the Charities SORP- make judgemenis and esiimates that are reasonable and pTudenL slate wheiher applicable UK Accounting $tandarth have been followed. subje¢t to any material departur¢s disclosed and ¢xplaiTKd in the financial swem¢nts- prepare the financial statements on the going concern b&%is uAl¢ss it is inappropriate to presum¢ thai the charitable company and group will continue in busine The Trustees are responsible for keeping proper accounting records tha¢ disclose with reasonable a¢¢ura¢y at any time of the financial position of ihe charitable company and the group and enable them io enswe that the financial statements comply with the Companies Act 2006. They are also responsibl¢ for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the p￿ventIOn and detection of fraud and other irregularities. So far 8s each of the directors is awar¢ at the tirne the ryrt is approv¢d.. there is no relevant audit information of which the ¢hariW5 auditors are unaware. and th¢ Tn]ste¢s have taken all sieps thai they ought to have tsken to make themselves aware of any relevarti audii infonnation and to estsblish the auditors are aware of thai inforn)ation. In approving ¢he Trustees, Report. Ihe board 8r¢ also approving the str*gi¢ rewrt included within the report in their capacity as company directors. Approved by the Tru5tee5 on 2 December 2021 and s]￿ed on its behalf by: Mrs A J Paines Chair of Trustees

REPORT OF THE INDEPENDENT AUDITORS, TO THE MEMBERS OF THE GODOLPHIN AND LATYMER FOUNDATION Oplnlo W¢ have audited the financial 5tJtemeffls of The Gothlphin 4nd LIt￿ner School Foundation forthe year ended 31 Au8USt 2021 which comprise the Statement of Financial Acliviiie5, the Balance Shtti, the Ststemeni of Cash Flows and notes to the finan¢i&l statements. including a surnmary of 5i8nificani accounting policies. The financial reportin8 framework that has been applied in their PTepaTation is applicable law and United Kingdom Accounting Stmdard% including Finan¢i#l Reporting Si8nd¥rd 102 The Financial Reportingsiondardapplicable in ihe uKandRe￿bllc oflrelond(United Kingdom Generally Accemed Accouniing Ptactice). In our opinion, the financial 5tatem¢nts'. give a true and fair view of the State of the Bft)up's and of the par¢nt charitable comp3ny'5 affairs as at 31 August 2021 and of the group's and parent ¢h4ritsble company's net rnovement in ￿nd1 including ihe income and expenditure. for the year then ended. have been pro￿rIY prepared in accordance with Urtited Kingdom Generally A¢cepted Accounting PMti¢¢: and have been prepared in accordance wilh the requiyements of the Companies Act 2006. B•$is for OPiniOD We conducied our audit in Krordartce with Iniemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities underth05e standards are furtherde5cribed in the Auditor's re5pon5ibililies for ihe audit of the finan¢ial stat¢menis section of our reFrt)rt. We are Inde￿dent of the group in accordance with the ethical requirement5 Ihat are relevant to our audit of the financial ￿ateMen1$ in the UK. includingt1￿ FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these r¢quiremenis. We believe that the audit evidence we have obtained is sufficient and appropriaie to provide a basis for ow opinion. Cottclusions ￿lating to going Concern In Auditirtg the financial statements, we have concluded that th¢ trwWS' use of the going ¢on¢ern basis of accounting in Ihe preparniion of the finan¢ial smements is appropriaTr. Based on the work we have performed. we have identified any material uncertainli¢s relating to events or conditions that, individually or ¢oll¢dively. Tnay casi signifi¢ani doubt on the group's ability to continue as a going concern for period of at lea￿ twelve monihs from when the financial siaiements are auihorised for issue. Our responsibilities aThJ the re5ponsibilili¢s ol the ir￿￿ee5 wilh re4rd to going concern are descri￿ in the relevant sections of this re￿. Other infDrm*tlon The nwstees are responsible for the other information. The other information comprises the infornialion included in the Trustees, Report. Our opinion on the financial statetnents does not cover the other infomiation and, excepl ¢0 th¢ extent oiherwise explicitly stated in our report. we do not express any forni of assurdnce conclusion thereon. In connection with our audii of the financial Statemen￿ our responsibility is to read ihe other informaiion and. in doing so, consider wheiher the other infomiation is materially inconsixent with the finartcial siaiement5 or our knowledge obtained in ihe audit oroiherwise appeyr5 to be materially missiated. If we identify such material inwnsl￿enCie5oraPpareryl maierial mh551atemenis, we are required to detemiine whether there 1$ a material misstatement in the financial slatemenis or a material misstatement of the other infomiaiion. If. based on the work we have perform¢d. we conclude that there 1$ a n]at¢rial tnisstaiementof this other infomiation. we are requiredto report thai facL We have nothingto report in this regard. Opinions ort other matters prescribed by the Companies A¢t 21106 In our opinion, bosed on the work undertaken in the course of the audit.. the infoTmation given in the TNstees' RerrfJrt(which includes the St￿¢81¢ report and the dIr￿lor9, reÉx)rt prepared for th¢ purposes of cornpany law) for the finarKial yeaT for which the financial statements are prepared is consistent with the fin8n¢ial siatem¢nts- and the 5trAl¢8iC report and the dIr￿torS, report included within the Trustees. Annual Rewrt have been prepared in accordance with appli￿ble le8al requirements. 10

REPORT OF THE INDEPENDENT AUDITORS, TO THE MEMBERS OF THE GODOLPHIN AND LATYMER FOUNDATION Matt¢r4 OTr whieh w¢ 4r¢ required to report by ex¢¢piion In the light of the knowledge and understsnding of the group and the pamit charitable company and its environment obtained in ihe course of the audit. we have noi ideniified material mi55tstements in th¢ Trustees, ReFK>rt (which incorporate5 the strategic ￿port and the dire¢tor5' re&￿). We hav¢ nothing io reporf in respect of th¢ following man¢r5 in rel1￿ to which the Companies Act 2¢KJ6 requires us report to you if, in our (yinion.. adequate accountin8 r¢¢ords have noi been kept by the parent charitabl¢ ￿Mpany' or the par￿¢ ¢haritsble company financial statements are in agreement with the accounting record5 and reftwns" or ¢ertain disclosures of trusiees, r¢munerdtion specified by law aTe not made. or we have not r¢¢eived all ihe information at)d explanations w¢ r¢quire for our audit. Responslblllties of tru$te¢s for the flnaD¢ial sttemtnts As explained rnore fully in the tnjstees. respon5ibili1ies siatementsei on p￿e 19. the tru#¢es (who are alsothe directors of the clwitsble company for the purposes of company law) are responsible for the preparation of the financial ststements and for being satisfied tha¢ they give a true and fair view, and for such internal control as the trumees determine is necessary (o enable the preparaiion of financial statem¢n15 that are free from maierial rnissthtem¢nL whether due to fraud or error. In preparing th¢ financial statemenry th¢ trustees are responsible for a5se5sin8 the wup'5 and the parent charitsble company's ability to continue as a going ¢oncern. disclosin& as appli¢able, matters related to going ¢oncern and using the going ¢on¢ern basis of ￿COUntIng unle$5 the trll￿eeS either intend to liquidate the group OT the parent charitabl¢ company or to f¢45e operations, or have no realistic alternative but to do so. Audltor's responsibilltles for the audit of the finanelal ststemeDts Our objeclives are to obtsin reasonable assurance #bts￿ wheiherthe financial ststernents as a whole are free from rnaterial misstatem¢nL whether due 10 fraud oruror. and io issuean auditor's report that includes ouropinion. Reasonable assurance is a high level of ￿suranCe. bui is lloi a guarantee an audii conducted in accordance with ISAS (UK) will alway5 deteci a maierial missiacement when it exists. Misstat¢ments can arise from frdud or error and are considered material if. individually or in the awegaie, they could reos(NMbly be exmed to intluence the economic decisions of users taken o the basis of these financial s(atements. Irregularities. in¢luding frau4 are in5tsnces of non-compliance with laws and re8ulations. We design procedures in line wilh our responsil)ilitie5, Outlined above, io detect material MI￿latementS tn respect of inegularities. including fraud. The extent to which our procedure5 are capabl¢ of daecting irregulariiie4 including fraud is detsiled below.. Based on our understanding of the clwity and the environmeni in which it operdt¢& we identified thai the principal risks ofnon-compliance with laws ond regulatioL% r¢lat¢d tothe independent schwl regulations. safeguardingr¢gulations, health and safrty requirements. GDPi( ¢mployinent law and chariiy law and we con5Tdered the exteni to which non-wmpliance might hav¢ a material effe¢t on the financial 51aterneni$. We a150 considered those law5 and regulaiions that have a dir¢¢t impact on the preparation of the financial statements such the CharAti¢s Aci 2011 and Companies Act 2006 and consider other factors such as pa￿011 tax. We evaluated management's in¢entivesand opportunities forfiaudulent manipulation ofthe financial stsiements (including the risk of ove￿Ide of ¢ontrols). and deterniined thai the principal risks were related to to the improper re¢ognition of revenue and management bia5 in accounting estimates. Audii procedures perfom)ed by the engagem¢nt team in¢luded: Inspething ¢OTresponden¢e with regulator5 and rax authorities: Discussions with management including wnsideration of known or suspectrd instsnce5 of non*ompliance with laws and regulation and fraud. Evaluating managemeni's controls designed io prevent and deteci itTegularities: Identifyin8 and t¢5ting journals, in particular journal entries posted at the year end- and Challenging assurnwions and judgements mad¢ by management in their critica] accounitng estimaies. A further descriNion of our reswnsibilities for th¢ audit of the financial ststernents is lo¢ated on the Financial Reporting Council's website at.. iLiKs This description form5 part of our auditor's report.

REPORT OF THE INDEPENDEKf AUDITr)RS' TO THE MEMBERS OF THE GODOLPHIN AND LATYMER FOUNDATION Use of our report This report is made solely to the charitable Companys rnerni￿ as Y4 iM)dy, in accordance with chap￿ 3 of Part 16 of th¢ Companies Act 2006. Our audit work has been undertaken so thai we mithi state to the charitable company'$ members those matters w¢ are requiredto stsie to th¢m in an AudIt0￿S rep)n ond forno otherTwose. To the filllest extent pennitted by law, we do noi accept or tssume responsibility to anyone otherthan the charitable cornpanyand thecharitable companys members, as a body. for our audit worl for this reprt or for the opinions we have fornied. Tracey Young (S¢nior Statutory Auditor) For and on behalf of Hay5rnac]ni￿e LLP. Swutory Auditor 10 Queen Street Place LDndon EC4R IAG Date.. 1611212021 12

THE GODOLPHIN AND LATYMER FOUNDATION CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST2021 Unrtstrlcted EhdoTvNent Restricted Funds Funds Funds Tot1 2021 Total 2020 INCOME AND ENDOWMENTS FROM: Note Charitable Adivities.. Nei fee5 receivable Othereducational income Investments Donations and legacies Gran15 1,435.710 23.(M)4 22 120 17,488.111 1247.974 6.830 774293 45,048 18.923.821 1270.978 6,852 774,413 45,048 16,790.097 1.104.735 30.201 566.547 127,420 Total In¢ome ,45&856 19.562256 21,021,112 18.619.(KKJ EXPENDITURE ON.. Charitable Aetivilies 1.646.121 436.818 17.094.432 19.177.371 16,851.674 Totol Expenditur¢ ,646.121 436.818 17.094.432 19.177J71 16,851,674 Net ith¢omel(expenditure) before investment in￿{1055￿) (187265) (436.818) 1467.824 1.843,741 1.767,326 Investhient gains/(loss¢s) 18.081 18,081 {8.488) Net incomel(expendilure) befo￿ transfers {187.265) (436.818) 2,485.905 1.861,822 1.758,838 Transfers 14 989.142 (989.142) Transfer of assets from Redcliff¢ S¢hool 21 3.739.368 237.871 3.977.239 Net movement fw#d5 3.552,103 552,324 .734.634 5,839.061 1,758,838 Total funds brought fon¥ard I September 2020 11.812.080 10.151.362 21.963,442 20204.604 Totsl funds earried forward at 31 Aug￿%¢ 2021 14 3.552.103 12J64.404 11.885.996 27.802.503 21.963.442 The x¢ompanying nos fonn pon of these financial Statern￿ts. Full ¢omparaiives for 2020 are shown in noie 20. 13

THE GODOLPHIN AND LATYMER FOUNDATION GROUP AND FOUNDATIOiY BALANCE SHEETS AS AT 31 AUGUST 2021 Group Foundatio 2021 2021 21llO 2020 Note5 FIXED ASSETS Tangible fixed assets Investments 24,318.255 130.042 20.519282 116,561 4,090,336 24,448.297 20.635.843 4,090,336 CURRENT ASSETS Debtors Cush and cath equivalents 10 228.142 9.876,699 297J29 7.111982 46.736 613,393 10.104.841 7.410.311 660,129 CREDITORS: amounts falling due within one y¢ar (4.581.649) (3.503.632) (480.024) NET CURRENT ASSETS 5,523.192 3,906,679 180.105 TOTAL ASSETS LESS CURRENT LIABILITIES 29.971.489 24.541522 4,270.441 CREDITORS: amounts falling due Y4fter more ihn one year 12 (2,168.986) (2.579.080) (700.0￿)) TOTAL NET ASSETS 27.802,503 21,963,442 3,570,441 UNRESTRICTED FUNDS 14 3.552.103 3,552.103 RESTRIcfED FUNDS 14 11.885.996 10.151J62 18,338 ENDOWMENT FUND 14 12.364.404 11.812.080 TOTAL FUNDS 27.802.503 21,963.442 3.570.441 The Foundation income for the year Wds £1.459k (2020: £nil) wilh a defi¢ii of £407k12020:£nil). The financial ststem¢nis were approved and alrthorised for issue by the Governors M 2 December 2021 and were signed below on its behalf by: Mrs A J Paines Chair of Govern￿S av Chair of nance. Audit and Investment Committee The ac¢omp8nying notes form pJrt of these financial sts*meni 14

THE GODOLPHIN AND LATYMER FOUNDATION CONSOLIDATED STATEME1￿ OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021 2021 2020 Note Net ¢J$h intlow from opertiODS: Nei cash provided by op¢rdtions Cash nows from investing #¢tlvlties: Income frorn investm¢ntS Interest re¢eived Proceeds from sale of investments Paymenis to acquire tangible r￿ed assets Cash r￿cIVed on merger wlth R¢d¢liffe Sch￿1 3.185.209 2.933,837 4.642 2.210 4.600 {351,447) 245.366 4,210 25.991 (45.997) Net cash M¢d in invegtl•g diYlti (94,629) (15,796) Cash Ilow$ from finan¢l% aetivltks: Finance costs Bank loan repaymeTrts Bursary Fund loan repaym¢nts New Bursary Fund loan (196,388) (455,475) (375,OCN)) 700,(KKI (246.124) (426.876) (250.000) Net esh uged fin•nciTrg aetlvilies (326,863) (923,001) Chane¢ in cash ond cash eq•fvlents in the reporting period Net cash and cash equivalents at begirtfting of peri Net cash and cash equivalents ai end of peri(Ml 2.763,717 1.995.040 7.112,982 5.117,942 9.876.699 7.112,982 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH INFLOW FROM OPERATIONS 2021 2020 Net mov¢m¢nt in funds Depreciation charges (Gainy10$5 on investmeni Increase in debtors Increas¢ in creditors Investtnen¢ income and interesi received Finanr¢ costs Transfer of net a8ws from Redcliffe School 5.839.061 696,024 (18.081) (69.187) 525.095 (6,852) 196,388 (3.977239) 1.758,838 616,355 8.488 (102.296) 436.528 (30,201) 245,125 Net cash iDllow from operntk)DS 3.185,209 2.933.837 ANALYSIS OF CHANGES IN NET DEFr At I September 202 Other Changes At 31 August 2021 Cshfiows Cash and ¢4$h equiv*lents Cath D¢posit accouM$ 952,982 6.160.0(M) lJ13.717 1,450.000 2.266.699 7.610.000 Borrowln8S tkbt due within one year Debi due after one 7.112.982 (705.475) (2,551,402) 1763,717 830,475 {7￿.[￿K)) 9,876.699 (985,094) (2.141.308) (1.110.094) ,110.094 (3.256.877) 130.475 {3.126.402) Tothl 3.856.105 2.894.192 6.750.297 15

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31 AUGUST 2021 ACCOUNTING POLICIES BA5ig of Prnpartion of the Finnelal stateme￿($ The financial statements have been PTepared in a￿<th¢C with the Financial Reporting Standard applicable in ¢he UK and Republic of Ireland (FRS102), the Companies Aci 2￿6 and the StatemeDi of Recommended PrKtice applicabl¢ to charities preparing iheir accounts in accordance with the FinaDcittl Reporting Standard applicable in the UK and Republic of I￿land (FRS 102)- Second Edition. effective l January 2019. The Foundatton has taken advantage of theexernption avaiiAbleioaqualifyingentity in FRS102 frcAnthe requirement to PTes¢nt a charity only Cash Flow Siatement and with the consolidoted financial stsiements. The financial ￿￿eMents are drawrt up under the historical cost cmveniion exceo that inve$tments are carried at market value. The Foundation is a Publi¢ Benefit Entity registered &s a charity in EnglaThl and Wales and a company limited by guarantee without having share capital (registered number 3598439 and chority number 1073924). Going coneern Having rEYiewed the funding facilities available io ihe Foundaiion together with ihe cxpected ongoing demand for places and the Foundaiion's fvture projected cash flows. the Tn￿¢5 have a wsonable expectation that the Foundation has adequate resources io continue lis activities for the foreseeable future and consider that th¢r¢ were no material uncertainties over the Foundation's financial vÉabiliiy. Accordin8ly, they also contirtue to adopt the going con¢em basis in preparing th¢ financial staiemenis. Ba$iJ of consolid8tio The financial siatements of the Group inclLKl¢ the results and balances of the Foundation con501idated on a line by line basis with The G¢xlolphin and Laiymer School. In accordance wilh Section 408 of ihe Companies Act 2006. no separydte ￿ateMent of Financial Aciiviiies is presented for the Foun(l•tion. Crltical 4¢¢ounting judgements key sourtt5 of estirn¥tioM u•cert•lmty In the application of the a¢councing wjlicies. the Tr￿￿eeS are required lo make judgem¢nt, estima￿5, and assumptions about the carrying value of assets and liabilities are not readily apFqr¢nt frorn other sources. The estimates and underlying assumptions are based on historical ex￿lence and other factors thai are considered io b¢ relevant. Actual results may differ from ihese eslimates. The estimates aThd underlying assumoions are reviewed on an ongoing basis. Revisions to accouniing estimates are recognised in ihe period in which the esiimate is revised if the reviston affeas only that period, or in the period of the revision and future periods if the revision affecied CUTr¢nt and future wiod& In tht view of the Tru&ees. assumptions concerniNg ihe fvture or estimation urKertaiffly affecting assets or li4bilities at the balance 5h¢et date aTe likely io resuli in a material adju5trnent to their caTwn8 amounts in the n¢xi financial year. The followirt8 accountingpolicie5 have been applied consigeftily in dealin8 with items which are ¢onsidered material in relatiOD to the FouTththon's finan¢ial Matements. 16

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (¢ODtiDued) FOR THE YEAR EIYDED 31 AUGusf 2021 ACCOUNTING POLICIES (coiwfINUED) Funds The general funds of the Foundation represent unrestricted funds expendable at the discretion of the Trnstees. in fi￿h¢rance of the objecL8 of the charity. Resources received for purp￿ spe¢ified by the donor, whether for we a5 income or capital, ar¢ credited io an appropriate r¢5tricted Amounts expended in accordaTKe wirh th¢ resrriciions are charged directly to the restricted fund. The 8en¢rai funds of the Godolphin and Latymer SCI￿01 aTe represented by the Elizabeth Godolphin Fund and represent fund5 expendable at the discreiion ofthe Sole Trustee in furtherdnce ofth¢ objects ofthe School. De$ignated funds comprise fund5 which hav¢ i%en set &side by the Sole Tntst¢¢ for a specific purpose. The Endowmeni represents r¢striaed funds held on trust to be pernwiently retained for the tnefit of the Godolphin and LAtym¢r School as a capiial fund. FinAnelal Iustruments Basi¢ financial instruments are initially recognised attsansaction value and subsequ¢nily mea5Uftd at amortised wtth the exception of investments which are held at fair walue. FiTJancial assets held at amortised cost comprise cash at bartk and in han(L together with trade and oiher debiors. A specific provision is rnade for debts for which recoverdbility is in doubt. Cash ￿ bank and in hand is defined &s all cash held in bank accounts and used as Working Capital. Finan¢ial liabiliti¢$ held * amortised cost comprise 411 crediioE5 ¢xcew wia] security and other taxes and proyisions. Fixed #uets Tangible fixed assets are stated at ¢osi less accumulated (kprecialion. fkpreciaiion 15 charged on a consistent basis $0 as to write off the cost of r￿ed ¥sets, less their emimated Tesidual va]ue, ov¢r their expected ￿eful lives. All assets costin8 more than £l,O(K) are ¢apiralised. Depreciation i$ charged from the dale on whi¢h assets art bTOUg￿ into use. Th¢ following rnie5 ar¢ used on i strnight line b0SiS. Freehold buildings Leasehold property improvements Astroturf Fixtures, computers and equipnknt Plant and machinery 1-2% str4ight line 24°h straight line IOty/• Straight line 25-33.3Vo Straight line 5•/• Straight line The fjodolphin and latymer School freehold prowty was revalued on the 23 September 1999 by Matthew5 and Goodman ai 46 Bow Lane, Cheapside. London using the open market va]ue. In accordan¢e with the transitional provlsiolls of FRS102 section 17. this Value h&% not Een updated. The Red¢liffe School freehold property wa5 valued by CBRE on I September 2020 using op¢n market value. Freehold land 1$ depreciated. InveJtment$ Investsnents are valued in the balance sheet at closing price at the balan¢¢ sheet date. Realised gains are the diff¢rence between sales proceeth and opening Tnarket ￿luC where the investment w&s held at the beginning of the year. or sales proceeds [¢$5 ¢05t of purchase where the investment was acquired in the year. Unrtalised gain$ are the Change in value of Énvestmenis after tsking into ac¢ount any movem¢nts in investment holdings such as purchases and disposa]s of investments. Reolised and unrealised gains are accounted for within the Ststement of Finan¢ial Activitie5. 17

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {¢o#tlnu¢d) FOR THE YEAR ENDED31 AUGUST 2021 ACCOUNTING POLICIES (CONTINUED) Debtors School fee aTKI other deb¢m are recognised at the settl¢ment amount due after aDy trdde dis¢wnt offered. Prepayments ar¢ valued at the amount prepaid of any trade disc(MmL% due. Creditors and provi5iOnS Creditors and provi5i0ns are recognised whwe the Schth)I has J present obliwion resuliing from a past event that will probably result in the transferof funds to athird party and the arnouni due to settle the obligation can be measured or estimat¢d reliably. Creditors and provisions ate nom)ally re¢ognised at their settlerneni amount after allowing for any trdd¢ discounts due. Fees and similar income Fees r¢ceivable and charges for setvice5 and use ofthe premises. less any allowan¢es, scholwship5. burwies grdnted by ihe School agaill￿ tho% fee& bul including contribuiioD received from restri¢i¢d funds, are accounted for in the period in which the serlice is provid¢d. Dongtifrnsi grants and legjeies Voluntary ineome is aCcoUn￿d for as and when entitl¢ment aris¢s. the amouni can be reliably quantified and the economi¢ benefii to ihe School is considered probable. lwvtstment iD¢ome Investmeni income from dividend& bank balance5 brtd fixed interest securities is 8K¢ounied for on an aeeruals basis. EsptTrditure All ex￿ndIt￿re is accounted for on an accrnals basis a￿1 has been classified ￿￿er headings that aggregaie all costs relating to that ¢*e80ry. Teaching cosis are direci costs of leaching the pupils ￿ rhe School. Welfare costs are mainly ihe domestic costs of the khool. Premises ￿sts are the ¢osts incurred in maintaining premise5 of the sc￿), including rale5. insurance and general ¢xpenditure on repairs and r¢newdls. Support costs are the costs of directly adminiMering and supw1ing the School's operations. Govemance costs are audii fees a￿1 governors, insurarKe. Valve Added Tax Value added tax is not recoverable therefore, shown inclusive of value added tax suffered. Penjiott cNts The Scho(Trl is a member of the Teachets. Supernnnuation kheme rurt by Teachers. Pensions. Th¢ scheme is an unfunded, defined benefii scheTne. li is a mulii•employer pension scheme and it is rn)i possible to identify the a5s¢ts nd liabilities of the 5eheme which are attribuiable to the schwl. Accordiftgly uTrd¢r FRS102 section 28 the scheme 15 accounted for as if li were a defined contritr￿tIO￿ Scheme. The School also contributes to a defiT￿l conrribution scheme for non-teaching staff. The School'5 ¢1)ntributions to nsion funds for its employees are ¢harged to the Sthtemeni of Financial A¢tiviiies on an accruals basis in tht year in which they f811 due. Operating lease5 Rentals under operating kases are ¢harged on a straight-line basis over the lease tem. even if ihe payThents are T￿t math on su¢h a basi5. Benefits re¢eived and receivable as an in¢eniive to sign an operating lew are similarly Spread on a straight-line b&si5 over the lease i¢nn. Trnnsfer of #$$ets from Red£liffe School The assets and liabilities transf¢￿ed from Red¢liffe School on I September 2020 have E¢en recognised at the Trustees besi t￿lmate of their fair value on the date of transfrr. 18

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMEIYTS l¢oDtln•ed) FOR THE YEAR ENDED31 AUGUST 2021 NET FEES RECEIVABLE 2021 2020 Net f¢H rncelvable ¢om$lst of: Gross f¢¢5 receivable Fees given as scholarships Fe¢$ given as burwie$ Fee r¢mis5ion for stsff 20.549,566 (103.883) (1.731.751) (79,649) 18.230,645 {116,725) (1.417,434) (77.059) 18.634283 16.619.427 Add: Bursaries paid by restri¢ted fijnds 289.538 170.670 Payable by paren15 {n¢t of scholaTships and bursarie5) 18.923.821 16.790,097 OTHER EDUCATIONAL INCOME 2021 2020 School lun¢h income Music Registration fees Registraiion deposits forfeited Insurance cornmissions Management fees Lettin8wThir¢ income Sundry rrteipts 435.785 532.881 188.400 11.696 22,667 1.000 1250 77.299 405.066 545.139 115.025 4.500 31.665 iooo 1.140 200 1270.978 1.104,735 IIYCOME FROM INVLSTMENTS 2021 2020 Eliubeth Codolphin Futtd Deposit inierest Prlze Fund Dividends 4TKI interest 2.188 25.991 4.642 4,210 Other interest 6.852 30,201 19

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMEIYTS (tomtln¥ed) FOR THE YEAR ENDED 31 AUGUST 2ffll DONATIONS AND LEGACIES 2021 2020 UnT¢strieted FuDds: Other donations 120 Rutrleted Fuftd$: Elizabeth Godolphin Fund Annual fund Ye¢eiVS Godolphin and LAtymer School Bursary Fund Bursaries- Godolphin and Latyn￿ SclMx)I Bursary Fund- R¢dcliffe 62.8c￿) 641,488 23,085 46.170 750 19,325 376,552 90.732 79,938 Total rtStrl¢led funds 774.293 566.547 Totsl 774,413 566,547 ANALYSIS OFTOTAL EXPENDITURE St*ff cost5 2021 Other ¢•sts 2021 Depreciatio 2021 2021 Charitable Aetivities: S¢h(K)l Operating Coms.. Prizes Teaching costs Welfare ¢0515 Premises ¢osis Support and governance c051s FiThance costs 12.1(X) 780.940 754.159 1.833,178 887.356 196,388 12,IlXI 11.799,080 893,3 13 2,761,359 3,225,393 196.388 I I.INXb.989 139.154 249,508 2.338.037 17.151 678,873 BuT5aries from re5tricied fund$ 289,538 289,538 13.727,688 4.753.659 696.024 19,177,371 Comparnlive analysls ollolal&Ypendilure StafT¢osts 2021b Other eosts 2020 Depretiltion Tothl 2020 2020 Charitsble Activities: School Operating Costs: Priz¢s Tea¢hing costs Welfare costs Premises ¢QSts Support and govemance costs Finanre rosts 9.5 770,981 577.088 1.336.968 802,626 246,125 9,51K) 10,489,259 716.567 2.246,6 2.972,953 246.125 9.714.636 139,479 296.919 2.170J27 3,642 612,713 Bursarie5 from restri¢ted funds 170,670 170,670 11321,361 3.913,958 616,355 16.851.674

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMEIYTS l¢ontintAed) FOR THE YEAR ENDED 31 AUGUST2021 ANALYSIS OF TOTAL EXPENDITURE (eolltlDu¢d) Analysis of Support e0515 Teaching costs primarily repr¢sent departmerttsl and related cott Support costs can be further analysed as follow$: 2021 2020 Support and govern*nce costs of Sch￿11￿1 Printing stationery and postage Tel¢phone Advertising and re¢Nitment Insurances Sundry expenses Legal and professional Courses and confeTen¢es Governance costs 36.665 18.084 124,193 155.791 297.692 147.279 54.092 53,560 23.434 17,859 89,930 165.201 1gYI.648 191.170 95,079 29.305 887,356 802.626 Analysls of governamee costs: Governors indemnity insurance Auditor's r¢munerdtion- for audit services for the S¢h(x)I 2.￿)5 50,655 2,905 26,4LK) 53.560 29.305 STAFF COSTS 2021 2020 Wages artd salaries Social security co#s Pension contribution5 Redundan¢y and tern]inatiort ￿YThents 10,436,000 1.174228 2.061,139 56,321 9.357,202 .051,357 1,868,725 44,077 13.727,688 13.321.361 The average number of persons employed by the group during the year was: 2021 2020 Teaching staff Peripatetic and support sthff Temporary staff 146 100 126 10 248 237 Th¢ number of employees who received remuneration of £60.(￿ or ￿ater. in ihe following bands was.. 2021 2020 £60.000- £70.000 £70.0(M)- £80.000 £80.0(K)- £90,000 £90,000- £100.0( £I(K).000- £I10,(MX) £120,000- £130,0th) £150.000- £160,0 £160,000- £170,0(x) £200.000- £210,0 £250.000- £260,0 22 24 The totsl cosi to the employer of remunerning key managemthjt pewnnel is £882.084 (2020.. £704.084). 21

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (eontlnued) FOR THE YEAR ENDED 31 AUGUST 2021 & TANGIBLE FIXED ASSETS GROUP Flxw Pla•t & M¢hithtr) Eqlliprnmt Asiro Tryrf Prow Totsl Al I Sqernbtr2020 AddiliM$ 81 eosi Transf¢￿ed in 20.794.167 158.666 2.950.LKAI 943.578 355.(yXJ 34.327 249 26254 115.659 170.532 412.465 28.659.196 351.447 4.143.550 J.167J96 At 31 Au8usI2W21 23.906.833 8.110.874 355.( 216.191 412.465 33.154.193 Dcprttilio At 15eptrmber202Q ctW8¢ for y 15.W5.459) 1453.4491 (1.714.779) I159.￿?) (88.750) (17.7501 (10.9261 124.5681 (330,0001 (412501 18.139.914) (696,0241 A¢31 A￿8￿￿2021 16.448.gJ81 11.873.786) (lo6.5￿) {35.494) 1371250) {8.835.938 Nei BoolL Value At 31 AUg￿t20?1 17.457.925 6237.088 24&5(X> 47.336 286.191 41.215 24Jl&25S Atjl Auwtst 2020 14.802. 522BAO) 266250 23.401 115.659 82.465 20,519282 FOUNDATIO1¥ Flityr Freekdd Proptr Pro￿rty PIANt & hintry Eq¥lpment A¥trO Turf TotAI Cost or vlw4tlon Al I S¢rA¢mber 2020 Addiiions ￿ c05t TYwsfrrr¢d in 22.249 26254 22.249 4.143.550 2.950.IXXI 1.167296 AI 31 Au8USE 2021 2.950.rTh) 1.167J96 48.503 4.165.799 Depre¢i*tio At I SeNeM￿l 2020 Clw foi 134J81) (20.157) 120.9251 175.463) Al 31 Awa2021 134J81) (20.157) {20.925} 175.4631 AI 31 Au8U5¢ 2021 2.915.619 1.147.139 27.571 4.M.336 At 31 2020 The freehold premises held by G¢yJolphin & Latymer School with a net book Vfllue of £14,790,806 were augmented out of the endowment of the iAtymer Foundation in IW5. The property i$ to be heid in p¢rpetuiiy as a p¢rmartent endowmeni. In Ma￿h 2006, the Godolphin and iatymer School entered into a long-terni lease for the use of Church premises adjoining the main School properry. The It￿. which is for 125 ￿, ¢ommenced on I Seprember 2007. Rent 15 £235,620 per annum and it is subject io review at 5-year inietvals. Alli¢d Irish Bank (GB) hold a fixed legal charge over the freehold land tting ihe site and premises of the Godolphin and Latynw Sclwl &8 security for the loan detail¢d in no￿ 12. The Gothlphin and Latymer Bursary Fund I￿ld$ a legal charB¢ over the freehold property 47 Redclifft Gardens as security for the loan details in ]hxe 12.

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (eoDtl#ued) FOR THE YEAR ENDED 31 AUGUST 2021 FIXED ASSET INVESTME]YTS 2021 2020 Group Balance at I September Disposal Realised loss on sa]e Unrealised gains 116,561 (4.6(M)) (149) 18.230 125.049 (8.488) Balance at 31 Augu 130,042 116,561 Tr balances &8 at 31 Augum was mth up of the followin Fixed interest Governmeni Stocks UK Equiti¢s 11.636 118,406 16,578 99.983 130.042 116,561 Histhri¢ Cost 57,760 62,567 Bengale Llmit¢d This Company is a wholly owned Subsidiary of the Foundation. The company did not trade in the current year or the prior year. The Net Assets &$ at 31 August 2021 amounted to £100 (2020: £ILK)). io. DEBTORS Growp Found•tion 2020 2021 2020 School fee$ Prepaym¢nts and accrned income Other debtors 5.962 193.962 28,218 299 253,628 43.402 2,942 24,547 19,247 228.142 297.329 46,736 Groip Foundation ii. CREDITORS: due within oBe yar 2020 2021 2020 Bank loan (see rtote 12) Bursary Fund loan (see not¢ 12) Fees in advart¢¢ Registration deF*)sits Other iaxalion and social sKurity Other pensions Old Dolphins Association Text book deposits Acenkals Other ¢reditors Other ¢reditors Godolphin and Latymer School Bursary Fund Amounts due to Godolphin and tatymer School 485.094 s￿.[ 440,833 1.418,428 293,929 30205 77.495 368.780 758.691 77,483 455.475 250.(IKJ 372.125 .118.71)0 284.632 32.471 72.606 335.160 129295 217.321 48,684 222,028 18.109 71.772 344 130,711 235.847 15,172 103.915 4,581.649 3.503,632 480,024

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS l¢oAlinued) FOR THE YEAR ENDED31 AUGUST 2D21 12. CREDITORS: due gfter more tlJn on¢ yeAr Group Fol￿datIO 2021 2020 2021 202 Old Dolphins A550ciation Bank loan (5¢¢ ￿lOW} Godolphin and t2tynw School Bur5Jry Fund loan 27.678 261.308 27,678 746,402 1.880.0(K) 1,805.0 700,C￿0 2.168.986 2.579,080 700.¢X)O The bank loan is rewyable in insialmÉnis.' Due after five year5 Due within two to five years Due within one to Iwo years I75,￿0 450,OCKJ 75,000 261.307 485.095 261.308 Due after more than one year Due within one year (see note I l) 261,308 485.094 746.402 455,475 7(K),( 746.402 1.201,877 7[￿￿.0(￿) In April 21KJ7 the Godolphin aTKI taiymer School took out a loan wilh a maximum aggregate amount of £5 million, of which £4.882.910 was drdwdown, with the Allied Irish Bank towards the cosr of a building development project in and around ihe adjacent Church property. The104n h&8 been provided ai a fixcd r￿¢ of 6.350/9. The tern) of ihe loan is for 15 years comm¢ncing September 2(K)7. In JanuaTy 2014. the Godolphin and Latymer SchiKIl Bursary Fund ITU5tees granted a loan of £3.25 million to rhe S¢hool towards ihe c05t of ihe building developmeni projeci of which £3 million was drawn down. Th¢ loan ha5 been provided at a rate of S•/• floating above six-monih LIBOR. with a cap of 6 1/10/￿. fixed for the first five years. The loan ￿p1th1 is repayable by 30 Sepiemt¢r 2028. The School CUTrenily innds io make a minimum repaymenl of £500,(M)O per annum over the remaining loan ienn. In April 2021. th¢ Godolphin and LatyTheT School Bursary Fund trusttts granted a loan of £700,tMK) to The Godolphin and Loiymer Foundation which was fully drawn down. The loan has been prowided at a rate of 5Yo floating above LIBOR. wilh a cap of 6.5*• There is ￿ ayeed repaymenl plan siartiDg on 30 April 2023 with ihe fina] payment in 30 April 2027. 24

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (eOlltiTrued) FOR THE YEAR ENDED 31 AUGUST 2021 13. SPLIT OF NET ASSETS BETWEEN FUNDS Net curreD¢ 455ets #nd Investments long term debt 2021 2021 GROUP Flxtd asgets 2021 Total 2021 Unrestrided Funds 4.090.335 (538232) 3.552.103 Restrieted Funds 5.437,114 14.790.806 130.042 6J18.840 (2.426.402) 11,885,996 12,364.403 ETrdowmtnt Funds Balances at 31 Augum 2021 24J18255 130.042 3.354206 27.802.503 Compamlve splllofnetassets b¢fveeMf4nds 14et eurrent assets And Investffjents long term debt 2020 2020 GROUP ￿￿ed assets 2020 Tot*l 2020 Unrestrleted Funds Restrlcted FuDd$ 5.450.326 116,561 4.584.475 (3256,876) 10,151.362 11,812.080 Endowment Funds 15.068.956 Balances at 31 August 2020 20.519.282 116.561 1.327.599 21.963.442 25

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMEKfs IcotttlDued) FOR THE YEAR ENDED 31 AUGUST 2021 13. SPLIT OF NET ASSETS BETWEEN FUNDS (eontiDMed) Net curre*t assets wnd long term debt 2021 FOUNDATION Ftxed 2021 Total 2021 Unrestrkted F•nds 4.0￿.336 (538233) 3.552.103 Restrleted FU￿d5 18,338 18.338 Balances at 31 Au8USt 2021 4.090J36 (519.895) 3,570,441 The Foundation ha5 no funds in 31 Augu$1 2020.

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (¢ontinued) FOR THE YEAR ENDED 31 AUGUST 2021 FUND MOVEMENTS IN YEAR GROUP Balance at I September 2020 Transfers & Inv¢$tment g41n￿(kISses) Balanee at 31 August Income Expendhure Unrestr5¢ted fund$ 1.458.856 (1.646.121) 3.739,368 3,551103 R¢stTl¢ted funds Godolphin and Latymer School: Elizabeth Godolphin Fund Designated- Annual Fund Prize fijnd Elizabeth Crdne Fund Bursary Fund Bursaries FoundAtiDn: Bursary Fund- Redcliffe Trnvel wt fimd Curri¢ulum enrichment Fund Alumnae Programme (70th Gaia) Wellbeing programme (70th Gala) Lego coding and science equipment 9252.935 777.634 105.126 15.667 18.846,121 (16.783.622) 641.488 (9.172) 4.642 (12.100) (989.142) 10,326.292 1.409,950 115.749 15,667 18,081 23.085 46.170 (23.085) (46,170) 750 (220283) 220.283 2,637 ,637 5,154 5.154 3.006 750 2,637 1.637 5.154 5.154 3.006 10,151.362 19.562256 {17.094,432) (733.190) 11.885.996 EndowThent Funds 11.812,080 (436.818) 989.142 12.364.404 21.963.442 21.021.112 {19.177.371) 3,995.320 27.802,503 comporni1￿lINd￿￿W￿¢￿ts InJ*ar GROUP Bal•Det at I September 2019 Tr8Dsfers & iThve5tment insl(losses) B#ianee •t 31 August 2020 Income Expenditure Unrestrieted fun Restricted funds Godolphin and IAtymer Sehool Elizabeth Godolphin Fund Designated - Annual Fund Prize fund Elizabeth Crdne fund Godolphin & L￿Ymer Bursary Fund Bursaries 8,226,684 275532 118,904 15.667 17.896.898 (16.193.771) 547222 (45,120) 4210 (9,500) (676,876) 9252.935 777.634 105.126 15,667 (8,488) .732 (90.732) 79.938 (79.938) 8.636.787 18.619.&)0 (16.419.061) (685J64) 10,151,362 Ertdowrntni Funds 11,567,817 (432,613) 676,876 11,812.080 20,204,604 18.619,1X)0 (16,851,674) (8.488) 21,963,442 27

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (contiDu¢d) FOR THE YEAR ENDED 31 AUGUST2021 14 FUND MOVEMENTS IN YEAR (Continu￿) FOUNDATION B#lanee *t I Septembtr 2020 Trnnsfers & Inve5tmeTrt gainsl(105ses) B8lan¢e at 31 August 2021 Income Expenditwre Unrestricted funds 1.458.856 {1.646.121) 3.739.368 3.552.103 R¢$tri¢ted funds Bursary fund- Redcliffe Travel grant fund Curriculum enrichment fund Alumnae Progrdmme {70 Gala) well￿¢1ng programme (70th Gala) Lego C￿ling and science quipment 750 (220283) 220,283 2,637 1,637 5,154 5.154 3,IYJ6 750 2.637 1.637 5,154 5,154 3,006 750 237,871 18.338 ETrdowmeni fvttd$ 1.459.606 11,866,404) 3.977,239 3,570.441 c0mpar411vefundm0￿neHts Inyear The Foundation has no fund mov¢m¢nts in ihe prior year. 28

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FI]YANCIAL STATEMEKfs {¢Oll1in￿ed) FOR THE YEAR ENDED 31 AUGUST 2021 14 FUND MOVEMENTS IN YEAR (Coatlnued) Godolphln & Latymtr sch￿1. EIIz8beth G￿jOIphln Fund This represents the unrestri¢ted general fund5 of Godolphin and tatymer Schwl which are expendable at the discretion of the sole trustee in furtherhn¢e of the objects of the charity. Annual Fund - Deslgn4ted This represents donations received from various SOUTttS which have designated by the Governors towards ￿tIng bursaries and for specifi¢ capital projects within the School. Prlze Fuftd The prize fund rtwesents investments held through Quiherand bank deposits. The income generdied is used to furtd prizes for pupils. The Elizabeth Crnne Fund The Elizabeth Crane Fund Wds established in 1999. and purpose is to encourag¢ girls io widen their horizons beyond the cor¢ ¢urriculum in English. thn)ugh pcw. drama and lileratUTe. The Fund is Tepresenied by bank deposits. BuTJ4ry Fund The Godolphin and Latymer Bursary Fun¢ a %parak Trwt, established in 1977 and provides Bursary assistan¢e to girls at the School. Bursarles This fund represents donations received from Vario￿$S0urCeS whi¢h have b¢¢nrestric*dtOwartsd￿pr0vISi0n ofbursaries. All donations have been expended in th¢ year. Godolphin and L4tymer FollDd•tlon: Bumry Fund- Redcliffe Funds received specifically to assist the funding of buT58ries ot Redcliffe Garden School. Travel gr•rt¢ fund A grant that was re¢eived to be restrided to expcnditure on items in¢luded within the travel plan approv¢d by the Roy41 Borough of Kensington & Chelsea Curri¢wlum enrichment fund A donation to assist in the provision ofadditional curriculum enri¢ltment activitses. Al￿￿n￿e Programme fund Funds Teceived to promote nthorking opNwtuniii¢s foT previous Students. Wellbelmg Programrne fund To train a member of statT &% an emotional literdcy SUPP)rt assistsnt who is trained in psy¢hology and who allows children th¢ time to tslk thr￿jgh ony difficulties or worri¢s that they might be exprriencinB. Endow t Fund The Endowm¢nt fund represents assets which must be held pernwnently Godolphin and Latymer School is the net book value of the freehold school premi5e& less Ixm)wed ffijnds exF¢nded on the premises. 29

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL sfATEMEWTS (CODtIDued) FOR THE YEAR ENDED 31 AUGUST 2021 IS. PENSION CONTRIBUTIONS AND COMMrrMENTS The Sch(M)I participa$ in the Teathrs. Pen5iim Scheme {Yhe TPSY for its leaching staff. The pension charge ftsr th¢ y¢ar includes ¢ontribuiions paydble to the TPS of £1,666.870 (2020.. £1.002.384) atyj atthe year<nd £Nil (2020 - £Ni4 was accrued in respect of contributions to this scheme. The TPS is an unfvnded multi<mployer defined pension scheme gov¢rned by The Teachers, Pension$ Regulations 2010 (as arnertded) and The Teachers. Pension Scheme Regulations 2014 (as amended). Members contribute on a'pay as you go" basis wih contributions from members and the employer being ¢r¢did to the Exchequer. Retirement and other pension b¢nefiis are paid by publi¢ funds provided by P¥rliamenl. The employer contriFArtion rate 15 sd by the Sec￿lary of State following scheme valuations undertaken by th¢ Governm¢nt Actuary's DepartmeTlt. The mosi receni acluarial valuation of the TPS was Prepared as ai 31 Mawh 2016 and the Valuation Repor¢ which was published in March 2019, ronfirnied that the employer contributKon r￿C for the TPS would increase frorn 16.4/• to 23.6/0 from I September 2019. Employers are also required to pay a scheme administration levy of 0.089/0 giving a iothl employer Contrib￿lon rate of 23.6V/•. The 31 March 2016 Valuation Rewt was prepared in accordance with the benefiis set out in the scheme regulations and under the approach Specif￿ in the Direciion& as they applied ai 5 Mar¢h 2019. However, the 3ssumplion5 were considered and set by the Depameni for Education prior to the ruling in the'McCloud.'Sarge¥nt case.. Thi5 ¢ase has required the courts io consi(kr cases regarding ihe irnplemeniation of the 2015 refornls lo Public Service Pensions including the Tea¢lJers' P￿￿IOnS. On 27 June 2019 the Supreme Court denied the governm¢nt perni1￿10n io appeal the Court of Appeal'5 judgment that transitional provisions intriwjuced io the reforn*d pension Schemes in 2015 gave rise to unlawful age discriminaiion_ The government is resF¢Cting ihe Court's decision and has said it will engage fully with the Ernp5oyment Tribunal as well as employer and member representatives io agree how th¢ discriminations will be remedied. Thegovernmentannounced on 4 February 2021 that it intends io priK¢ed with a deferred choice underpin under which members will be able to choose either legacy or r¢fornied %heme beneflts in respect of their service during the p¢riod betsY¢en l April 2015 and 31 March 2022 at ihe point they becornc payable. The TPS 15 subject to a cost cap m¢¢hanism whi¢h was put in place io prote￿ tsxpayers again51 unforeseen changes in scheme cosis. The Chief Secretary to the Treasury. havin8 in 2018 announced thai there would be a review of this Cost cap mechanism, in January 2019 announced a pause to the cost mechanism following the Court of Appeal's rnling in the Mccloudlsargeani case and until there is Certainly about the value of pensTrons to employees from April 2015 onwards. The pause was lifted in July 2020, and a consultation was launched on 24 June on proposed changes io the c051 ¢ontrol me¢hanism following a review by ihe Government Actuary. The ¢onsulthtion clos¢d to resp￿5¢ on 19 Augu# 2021 and the Government is Currently analysing the responses. In view of the above rulings and de¢isions ihe assumptions used in ihe 31 March 2016 Actuarial Valuation may be¢ome inappropriate. In this scenario, a Wall￿10n prepared in accordance with revised benefitsand suitably Tevised assumpiions would yield different Tesults ihan those coniained in the Acluarial Valuation. Until the Coa cap mrfhanism review is completed it is not possible io ¢onclude on any finwKial impact or ffijture changes toth¢ conrribution rale5 ofihe TPS. Ac¢ordingly. no provision for any additional past benefit pension costs is in¢luded in these financial ststements. In addition. the group contributes to a d¢fined contribution scheme for non-¢eaching staff. The pension charge for the year includes contributions payable to ihe scheme of £394270 (2020-. £266J42) and ai thc year-end £30,205 (2020.. £32,471) was aCc￿ed in resFvt of contributions to ihis scheme. 30

THE GODOLPHJN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (¢ontinued) FOR THE YEAR ENDED 31 AUGUST 2021 Total pension ¢ontributions made in th¢ year are 8naly5ed as follows: 2021 2020 Totsl contributions during the year w¢Y¢: T￿hIng siaff Non-teaching staff 1.666,870 394270 1.602,384 266,342 1061,139 1.868.726 I& COMMITME]¥TS UNDER OPERATING LEASES: LEASE PAYMENTS The Group's f￿U[C minimum 0F￿ratIng lease payments are as follows.. Equipmettt Charity Equipment Group 2021 2021 2021 2020 Within one year Between two and five years 184,054 176,838 137,185 195,000 360.892 332,185 Lease commitments for long-tenn leasehold buildings are di￿105ed in note 8. 17. RELATED PARTY TRANSACTIONS Covernorj, remuneratlon lld reimbursed npemses Trustees indemnily insurance pr¢rnium of £2.905 (2020.. £2.905) was paid on behalf of the governing body in the year. No other expenses were paid on behalf of th¢ governing l)(yJy. Two governors were reimbursed £165 for travel ¢xpense5 in the year12020.. £132 one governor). Governors, DothtioDs The aggregate of dona¢ions received from the Governors and their conne¢ted parties in the year was £540 {2020.. £750). No Govemors wer¢ remuneration forservice5 provided to the Group. There were no other transa¢tion5 Wlth related parties in either year. 18. CAPITAL COMMITMENTS Ai 31 August 2021 the Group and Foundation had no capital commi¢ments (2020: no Capital commitsnents). 31

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (¢oThtinlled) FOR THE YEAR ENDED 31 AUGUST 2021 20. COMPARATIVE CONSOLIDATED OF FINANCIAL ACTIVITI&S Unrestricted E•dowment R¢slrieted Funds Fu#d$ Total Fundi 2020 INCOME AIYD ENDOWMENTS FROM: Nolt Clwitable Activities.. Net fees receivable <￿er educ￿lonal income 16,790.097 16,790,097 1,104.735 1,104,735 Investments Donations and lega¢ies Grant5 30.201 566,547 127,420 30,201 566.547 127,420 To¢1 Ineome 18,619.WO 18,619,000 EXPENDITURE ON: Charitsble Activities 432,613 16.419.061 16,851,674 Tothl Expe•dlture 432,613 16.419,061 16,851.674 Net Ineomel(expendilurt) fort Investment g4ill$ (432,613) 2,199.939 1.767,326 Inveslm¢ni gains (8.488) (8.488) Net incomel(expendityr¢) before tr•iisfers (432.613) 2.191,451 1.758.838 Transfers 14 676,876 (676.876) Net movernent in funds 244263 1,514,575 1,758,838 Total fvnds brought forward I September 2019 11.567.817 .636,787 20204.604 Total funds¢•rried forward t 31 August 2020 14 11.812.080 10.015,362 21.963.442 21. MERGER WITH REDCLIFFE SCH(KIL On I September 2020. when the mergertook place between Redcliffe &hiM)l Trust Limited and the Godolphin & Latymer Foundion. the net assets of ihe School were transferred to the Foundation. The followtng iable shows the fair Yalue of the net as%ts of Redcliffe School transferred to Godolphin & Lymer Foundation School on I September 2020: Tangible fixed assets Cash her net liabilitie5 4,143.550 245,366 (411,677) Totsl net assets 3.977.239 32

THE GODOLPHIN AND LATYMER FOUNDATION NOTES TO THE FINANCIAL STATEMENfs (eontinued) FOR THE YEAR ENDED 31 AUGUST 21121 22. SUBSIDIARY CHARITY The Godolphin and 12tymer Founthion is ihe sole m¢mber of The Godolphin and Latymer School. The GOd0￿)hin and tAtymer Sch￿1 hav¢ Iwi w)solidated ittio these accounts. The G(xlolphin and Latyrner School 15 a Public Benefit Entity regi￿ered as a chariry in England and Wales. it was registered in 1977 (charity number.. 312699) and ha5 a year end of 31 August. A surnmary of the Statement of Financial Activiti¢s and Balan¢¢ shed ar¢ given below.. Statement of Financial Aetlvities 2021 2020 com Net fees r¢¢¢ivabk (Xher Educaiion41 In¢ome Investments Donations and lega¢ies Grants 17.488.111 1.247.974 6.830 773.543 45.048 16,M,097 ,104,735 30,201 566,547 127,420 19.561.506 18.619,IKKI Charitabl¢ Activities 17.310.697 16.8Jl.674 Inv¢5ttn¢nt gainl(Ios5) 18.081 (8.488) N¢1 movement in fund5 2.268.620 1.758.838 Total fvnds Eh)ught forward 21.963,442 20.204.604 Totsl funds ¢arri¢d fonvard 24,232,062 21.963,442 Balanee Sheet Tangible fixed assets Investments tkbiors Cash in hand and at bank Creditors.. Arnounts falling due within one year Creditors.. Amounts frdlling due after more than one ye4r 20.227,920 130,042 285.324 9.263.306 (4.205.544) (1.468,986) 20.519.282 116,561 297.329 7,112.982 (3,503.632) {2.579,080) N¢t Assets 24232.062 21.963,442 Unrestricted Fund5 Restricted Funds Endowment Fund 11,736242 131,416 12,364,404 10.030.569 120.793 11.812,080 Accwnulated Funds 24.232,062 21.963,442 33